Telenav, Inc. (NASDAQ:TNAV) Q2 2019 Earnings Conference Call Transcript

Feb 07, 2019 • 05:30 pm ET


Telenav, Inc. (NASDAQ:TNAV) Q2 2019 Earnings Conference Call Transcript


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Good day, and welcome to the Telenav's Second Quarter Fiscal Year 2019 Financial Results Conference Call. Today's conference is being recorded. In a few moments, we will conduct a question-and-answer session. (Operator Instructions).

At this time, I would like to turn the conference over to Mike Bishop. Please go ahead, sir.

Michael Bishop

Thank you, and good afternoon. Welcome to Telenav's conference call to discuss the financial results of the second quarter of fiscal year 2019. Joining me today are HP Jin, President and CEO; Fuad Ahmad, Interim CFO; and Hassan Wahla, Co-President, Automotive.

After the market closed today, Telenav issued a press release and published a letter to stockholders on the Investor Relations section of its website. During the course of today's presentation, our executives will make forward-looking statements, including statements regarding, among others, the Company's expected financial performance for the third quarter of fiscal 2019, anticipated sources and mixes of revenue, expected profitability, product and business strategies and strategic relationships. We wish to caution you that such statements are just predictions based on management's current expectations or beliefs and that actual results -- actual events and results may differ materially.

We refer you to documents we filed with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2018, and other periodic filings. These documents identify important risk factors that could cause our actual results to differ materially from those contained in our forward-looking statements. We assume no duty to confirm or update or revise the financial forecast for the quarter or any other forward-looking information on this call as a result of new developments or otherwise.

Today, we will be discussing our results on a GAAP as well as on non-GAAP basis. We use these additional non-GAAP measures, as we believe they provide useful operating information in addition to the GAAP results. There are a number of limitations related to the use of billings versus revenue calculated in accordance with GAAP. We compensate for these limitations by providing specific information regarding GAAP revenue and evaluating billings together with revenue calculated in accordance with GAAP as well as considering whether we are likely to satisfy the criteria required to recognize revenue to convert deferred billing -- deferred revenue into revenue and the cost that we will incur over time to provide the services related to that deferred revenue. A reconciliation of GAAP to non-GAAP financial information is available in our press release and on our Investor Relations webpage.

As a reminder, the comparative financial results being reported have been prepared in accordance with ASC 606, revenue from contracts with customers and are not subject to audit until the end of our fiscal year.

I will now open up the call for questions. Operator?