SITO Mobile, Ltd. (NASDAQ:SITO) Q3 2018 Earnings Conference Call - Final Transcript

Nov 19, 2018 • 04:30 pm ET

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SITO Mobile, Ltd. (NASDAQ:SITO) Q3 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the SITO Mobile Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Rob Fink, IR.

Executive
Rob Fink

Thank you, operator. Hosting the call today are Tom Pallack, CEO; and Bill Seagrave, COO and Interim Co-CFO.

(Forward-Looking Cautionary Statements)

In addition, during the call, we will present non-GAAP financial measures such as EBITDA and adjusted EBITDA. Reconciliations to the most directly comparable GAAP measures and management's reasons for presenting such information is set forth in the press release that was issued earlier this morning. Because these measures are not calculated in accordance with GAAP, they should not be considered in isolation from the financial statements prepared in accordance with GAAP.

Before I turn over the call to management, I would like to remind everyone that a press release disclosing the Company's financial results was issued after the close yesterday and it can be accessed on the Company's website sitomobile.com under the News and Events link that's found in the IR tab.

With all that said, I'd now like to turn the call over to Tom Pallack. Tom, the call is yours.

Executive
Tom Pallack

Thank you, Rob, and good afternoon, everyone. I'd like to provide a high-level update and speak to the progress we've made during the third quarter that go beyond results we are reporting today.

SITO was founded as an ad delivery business and historically was structured and highly dependent on highly competitive RFP fighting on price, not results. Since joining SITO in the June of 2017, we have worked to position our data and analytics as a competitive differentiator to attract larger brands and agencies, who can use our insights and delivery platform to drive more effective campaigns while addressing strategic business issues. We are transitioning from an ad insertion order business to an embedded, value-added partner to our customers. We are actively developing cornerstone accounts to transition our business by addressing the brand imperatives for data analytics.

During and subsequent to the end of the third quarter, we are significantly strengthened -- we have significantly strengthened our organization by adding accomplished brand and advertising executives to our Board, seasoned and accomplished enterprise sales professionals to our team, and a new Head of Product Development to expand our leadership team. Our customers are excited about the potential of data and access to their customers, but we have been staffed as an ad delivery company. Our focus now is to expand development for the product stack and the data analysis sought by our customers. The addition of Alex Cherones brings SITO new development processes and relevant experience.

Alex was appointed as Head of Product earlier in the month, and he has spent the last 15 years at AT&T, where he most recently was responsible for the development of a large-scale, data analytic-focused security solutions for