DHI Group, Inc. (NYSE:DHX) Q3 2018 Earnings Conference Call Transcript
Nov 01, 2018 • 08:30 am ET
Hello and welcome to the DHI Group Inc. Third Quarter 2018 Financial Results Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation there will be an opportunity to ask questions. (Operator Instructions) Please note this conference call is being recorded.
I would now like to turn the conference over to Rachel Ceccarelli. Ms. Ceccarelli, please go ahead.
All right, thank you, Keith and good morning everyone and welcome to our third quarter earnings conference call. Joining me today are Art Zeile, President and CEO; and Luc Gregoire, CFO.
(Forward-Looking Cautionary Statements)
During today's call, we will be referring to certain financial measures, including adjusted EBITDA and adjusted EBITDA margin that are not prepared in accordance with US GAAP. Information about and reconciliations of these non-GAAP measures to the most directly comparable GAAP measure are available in our earnings release, which is posted on our website at www.dhigroupinc.com.
Now with that, let me turn the call over to Art.
Thanks, Rachel and good morning to everyone who has joined our call. We appreciate your interest in DHI. I am pleased to be here today to talk about the progress that we've made in moving our business forward this past quarter. We finalized the last of our non-core divestitures, completing our transition to a company with three complementary tech-focused brands. The fundamentals of the business are showing solid improvement, reinforced by clear, strategic priorities that are already delivering results. With the addition of a Chief Product Officer, and a Chief Marketing Officer this quarter, we now have a strong execution-oriented management team in place.
Our strategy of delivering high-quality specialized offerings for technology professionals and the employers who recruit them addresses a substantial unmet need in the marketplace. ClearanceJobs also known as CJ is an excellent example of this and the template for how we believe DHI will look in the future in each of its brands. CJ connects employers with actionable candidates through functionality and communication tools that I believe are the most innovative and sophisticated in the market today. The employers and candidates who use CJ view it as an invaluable and irreplaceable resource and CJ's revenues have been consistently growing at 20% plus year-over-year as a result.
CJ is effectively our test bed for innovation. The introduction of TalentSearch with IntelliSearch in Dice this past quarter was the first step in enabling Dice to deliver an equally strong value proposition. The key features that make the CJ experience unique and compelling are now embedded in our Dice and eFinancialCareers or eFC product roadmaps. In addition to the progress we're making on the product side, our fundamentals are also improving as a result of the changes we have made to our sales strategy and the work we are doing to rationalize our expense base. The rate of our revenue decrease continue to slow this quarter and we're on course to hit the inflection point in the fourth quarter with positive year-over-year growth following in 2019.