comScore, Inc. (NASDAQ:SCOR) Q3 2018 Earnings Conference Call Transcript

Nov 08, 2018 • 05:00 pm ET


comScore, Inc. (NASDAQ:SCOR) Q3 2018 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to the comScore's Third Quarter 2018 Financial Results Call.

(Operator Instructions)

As a reminder, this conference call may be recorded.

I would now like to turn the conference over to Hattie Young. Please go ahead.

Hattie Young

Thank you, George. Good afternoon, thank you for joining us to discuss comScore's third quarter financial performance. Joining me on today's call are comScore's CEO, Bryan Wiener; and CFO, Greg Fink.

(Forward-Looking Cautionary Statements)

I will now turn the call over to Bryan Wiener.

Bryan Wiener

Thank you, Hattie. Hello, everyone. Thank you for joining our Third Quarter Financial Results Call, my first full reported quarter as CEO. I'm joined by Greg Fink, our CFO.

I'm really excited about the progress we've made over the last five months, stabilizing the business and returning it to growth. As we discussed last quarter, while this turnaround will not happen overnight, we believe we will be able to demonstrate progress in quarters, not years. We believe today's report is a significant proof point that we're on the right track and poised for improved revenue growth with expanding adjusted EBITDA margins.

We've made progress in streamlining our cost structure as evidenced by our third straight quarter of positive adjusted EBITDA. Our team is laser focused on moving with increased velocity each quarter in terms of product innovation, customer engagement, revenue growth, adjusted EBITDA and cash flow.

As we discussed last quarter, we believe our longer-term growth will be driven by increased adoption of our solutions as a trusted currency for planning, transacting and evaluating media across platforms.

The great news is that the market is moving rapidly in our direction. Consumer behavior is leading media properties and buyers to accelerate their demand for cross-platform advertising packages across linear television, OTT and digital platforms. And buyers and sellers alike are demanding products and solutions that can accurately predict and measure audience and advertising delivery across platforms.

We are particularly encouraged by the traction we are getting as a currency in premium video advertising and digital local television, national television, addressable television, and the OpenAP television network consortium all converge in a cross-platform environment.

We described our strategy to launch new products in our last earnings call. I'm really excited to be able to go into far greater detail on our value proposition and progress at our Investor Day next week in New York. At Investor Day, we will discuss the environment for our products, our product road map and the model for each of our major product categories. We also plan to provide a multi-year financial outlook, including 2019 guidance that we believe will demonstrate our belief in our products, our business model and our excitement about the overall industry growth outlook. At Investor Day, we will also introduce our expanded management team, including Sarah Hofstetter, our new President.

Her reputation precedes her, and she is already make an impact in her first 30 days at comScore overseeing our recent brand launch and helping re-architect our