Vocera Communications, Inc. (NYSE:VCRA) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 05:00 pm ET

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Vocera Communications, Inc. (NYSE:VCRA) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon, ladies and gentlemen, and welcome to the Vocera Communications Conference Call. My name is Chris and I'll be your coordinator for today. At this time, all participants are in a listen-only mode. After the speakers' remarks there will be a question and answer session. (Operator Intructions). Thank you.

I would now like to turn the presentation over to your host for today's call Sue Dooley Vocera's, Director of Investor Relations. Please proceed.

Executive
Sue Dooley

Hello everyone, welcome to Vocera's conference call to discuss our fourth quarter fiscal 2018 earnings. This is Sue Dooley and joining me today are Vocera's CEO, Brent Lang; and our CFO, Justin Spencer. We distributed a press release detailing our quarterly results earlier this afternoon. The release is posted on our website at investors.vocera.com and is also available from normal news sources.

This conference call is being webcast live on the IR page of our website where a replay will be archived before we begin our prepared remarks, I'd like to take this opportunity to remind you that during the course of this call we will make forward-looking statements regarding projected operating results and anticipated market opportunities. This forward-looking information is subject to the risks and uncertainties described in Vocera's filings with the SEC, and actual results or events may differ materially. Except as required by law, we undertake no obligation to update or revise these forward-looking statements. On this call, we will refer to both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in our posted earnings release.

So with that, let me turn the call over to Brent.

Executive
Brent D. Lang

Thanks, Sue. Good afternoon, everyone. Thank you for joining us. On today's call I will start by summarizing the highlights from the year and the fourth quarter. Then I'll provide some details on key customer wins, some specifics on bookings in each area of our business and an update on some strategic deployments that occurred in the quarter. I will conclude my prepared remarks with commentary on the market environment and our priorities for 2019 before turning the call over to Justin for more details on our financials.

2018 produced record revenue and enhanced profitability, tremendous progress winning large enterprise accounts, significant expansions of our solution within existing customers and another good year in the federal space. We added a record number of new healthcare facilities during 2018, which is a strong leading indicator of future growth. We also made significant progress with our large customer deployments and maintained very high customer satisfaction as reflected by both our maintenance renewals and customer surveys.

Another highlight was the completion of our Smartbadge, a new unprecedented advancement in product innovation for Vocera. The completeness of our solution remains a differentiator for us and customer desire for collaboration solution and their need to mobilize data drove our business this year. We validated our leadership position with several large customer wins and our solution continues to succeed against competitors. As we begin 2019, I'm