Carbonite, Inc. (NASDAQ:CARB) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 05:30 pm ET

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Carbonite, Inc. (NASDAQ:CARB) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Carbonite Fourth Quarter 2018 Full Year Financial Results and Webroot Acquisition Conference Call. At this time, all participants are in a listen-only mode. Later, we conduct a question-and-answer session, and instructions will follow at that time. (Operator Instructions)

I would like to introduce your host for today's conference, Jerry Sisitsky. Sir, you may begin.

Executive
Jeremiah Sisitsky

Thank you, Justin; and good afternoon, everyone. Welcome to our conference call this evening. With me on the call tonight are President and CEO, Mohamad Ali; and CFO, Anthony Folger. Following their prepared remarks, we're going to open up the line for any of your questions.

On the Carbonite website or the transaction website, which is at carbonitewebroot.transactionannouncement.com, you can find the press releases we issued earlier today, the presentation we will walk through on this call and a link to today's webcast.

I'd like to remind all participants that during this conference call, any forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals, including financial guidance, outlook, anticipated results and similar items, including, without limitation, expressions using the terminology may, will, believe, expects, plans, anticipates, and expressions which reflect something other than historical facts are intended to identify forward-looking statements.

Forward-looking statements involve a number of risks and uncertainties, including those discussed in our earnings release and presentation today as well as in the Risk Factors section of our Form 10-K, 10-Q and other SEC filings the company releases. Actual results may differ materially from any forward-looking statements due to such risk factors and uncertainties. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after this conference call, except as required by law.

All the financial figures discussed today are non-GAAP financial measures, unless it is stated that the measure is a GAAP number. A reconciliation can be found in our financial results press release, which is available on our IR website.

With that, let me turn the call over to Mohamad.

Executive
Mohamad Ali

Thank you, Jerry. Good afternoon, everyone. It's a very exciting day for Carbonite and we appreciate you joining us on this call. Today, we announced that Carbonite has entered into an agreement to acquire Webroot, creating a leader in data protection and security.

On today's call, we will provide an overview of this transformative transaction and discuss why we believe this acquisition will support growth and acceleration of our strategy, while creating value for all of our stakeholders. We will also be reviewing our fourth quarter and fiscal year 2018 results, which we announced this afternoon and our guidance numbers for the first quarter and fiscal year 2019.

By combining Carbonite's leading backup and recovery solutions with Webroot's leading endpoint security solutions, we are creating a new approach to protecting one of today's most vulnerable security risks endpoints. Webroot secures those endpoints today and Carbonite can recover those