ServiceSource International, Inc. (NASDAQ:SREV) Q3 2018 Earnings Conference Call Transcript

Nov 07, 2018 • 04:30 pm ET


ServiceSource International, Inc. (NASDAQ:SREV) Q3 2018 Earnings Conference Call Transcript


Loading Event

Loading Transcript


Good day, ladies and gentlemen, and welcome to the ServiceSource Third Quarter 2018 Earnings Conference Call. At this time all participants are in a listen only mode. Following management's prepared remarks we will host a question and answer session and our instructions will be given at that time. (Operator Instructions) As a reminder, this conference call may be recorded for replay purposes.

It is now my pleasure to turn the conference over to Chad Lyne, SVP, Investor Relations. Sir, you may begin.

Chad Lyne

Thank you, Brian, and good day, everyone. Thank you for joining us, and welcome to ServiceSource's third quarter earnings call to discuss our results for the quarter ended September 30, 2018. As a reminder, a copy of our earnings release has been posted on the Investor Relations section of our website at

Leading the call with me today is Chris Carrington, our Chief Executive Officer. As a reminder, we announced on October 18th that Bob Pinkerton has resigned from the company to accept an opportunity outside of ServiceSource. Rich Walker, a board member for the past year and highly regarded financial operator in the technology and information services industry, will take over the full-time role of CFO on November 12, and we look forward to introducing Rich to you in the coming weeks.

For today's agenda, Chris will provide a high-level overview of our third quarter results, share context on what we are seeing in the marketplace to affirm our long-term strategy and review progress against our 2018 priorities. I will cover our third quarter financial performance in greater detail and provide our outlook for Q4 and the full year. Chris will then wrap us up with some closing comments before we open for Q&A.

(Forward-Looking Cautionary Statements)

In addition, during the call, we will also be discussing certain non-GAAP financial measures and projections, which we believe provide additional information to enhance the understanding of how management assesses the operating performance of the business. You can find the reconciliation of the GAAP and non-GAAP measures in today's earnings release posted on the IR portion of our website.

And with that, I'll turn the call over to Chris Carrington, ServiceSource's CEO.

Chris Carrington

Thank you, Chad. Good afternoon, everyone, and thank you for joining us for the ServiceSource Third Quarter 2018 Earnings Call. Year-to-date, in 2018, we've been making steady and consistent progress towards enhancing the fundamentals of our business to support future growth and shareholder value creation. Our marketing business development efforts are driving greater market awareness of the ServiceSource brand and solution set and yielding a healthy pipeline.

Our outside sales teams continue to close more opportunities with a nice mix of expansions and new logo wins. Our delivery teams around the world are raising the bar on performance and driving better outcomes on behalf of our clients. And over the last several months, we have recruited and attracted multiple new executives to further advance the company and reinforce accountability across our organization.

Given the progress we are seeing