AutoWeb, Inc. (NASDAQ:AUTO) Q3 2018 Earnings Conference Call Transcript

Nov 08, 2018 • 05:00 pm ET

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AutoWeb, Inc. (NASDAQ:AUTO) Q3 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon, everyone, and thank you for participating in today's conference call to discuss AutoWeb's financial results for the third quarter ended September 30, 2018. Joining us today are AutoWeb's CEO, Jared Rowe; the company's Interim CFO, Wes Ozima; and the company's outside Investor Relations advisor, Sean Mansouri with Liolios. Following their remarks, we'll open the call for your questions. As a reminder, this conference call is being recorded.

I would now like to turn the call over to Mr. Mansouri for some introductory comments.

Executive
Sean Mansouri

Thank you, Joel (ph). Before I introduce Jared, I remind you that during today's call, including the question-and-answer session, statements that are not historical facts including any projections, statements regarding future events or future financial performance or statements of intent or belief are forward-looking statements and are covered by the Safe Harbor disclaimers contained in today's press release, the slides accompany this presentation and the company's public filings with the SEC.

Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. Specifically, please refer to the company's Form 10-Q for the third quarter ended September 30, 2018, which was filed prior to this call, as well as other filings made by AutoWeb with the SEC from time-to-time. These filings identify factors that could cause results to differ materially from those forward-looking statements.

There are slides included with today's presentation to help illustrate some of the points being made and discussed during the call. The slides can be accessed by visiting AutoWeb's website at www.autoweb.com. When there, go to Investors and then click on Events & Presentations.

Please also note that during this call and/or in the accompanying slides, management will be disclosing non-GAAP loss or income, non-GAAP EPS, adjusted gross profit and gross margin. These are non-GAAP financial measures as defined by SEC Regulation G. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in today's press release and slides, which are posted on the company's website.

And with that, I'll turn the call over to Jared.

Executive
Jared Rowe

Thank you, Sean, and good afternoon, everyone. Since I joined AutoWeb earlier this year, our team has conducted a comprehensive review of our operations and go-to-market approach to better align with our mission of reestablishing AutoWeb as a premier matchmaker of consumers and automotive providers. Now this review included an assessment of our products, traffic acquisition, pricing policies, distribution channels, technology infrastructure, strategic positioning and organizational structure as well as our long-term prospects in the future of mobility.

Now as an outcome of this review and in an effort to improve transparency with our shareholders, we have introduced several new operating metrics that we plan to report on a quarterly basis including measures to help assess audience size, traffic acquisition efficiency and distribution channel effectiveness. Wes will expand upon these new metrics but they can also be found in the presentation posted in the Investor section of our website.

Now the assessment of our go-to-market