Quotient Technology Inc. (NYSE:QUOT) Q4 2018 Earnings Conference Call Transcript

Feb 12, 2019 • 04:30 pm ET

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Quotient Technology Inc. (NYSE:QUOT) Q4 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Welcome to the Fourth Quarter 2018 Quotient Earnings Conference Call. During the call, all participants will be in listen-only mode. After the presentation, we will conduct the question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded and will be available for replay from the Investor Relations section of Quotient's website following this call.

I will now turn the call over to Stacie Clements, Vice President of Investor Relations. Thank you. Ms. Clements, you may now begin.

Executive
Stacie Clements

Thank you, operator. Hello, everyone, and welcome to our fourth quarter and full year 2018 earnings call. Please note that slides to accompany the remarks on today's call are available on the IR section of our corporate website.

On the call with me today are Mir Aamir, our President and CEO; and Ron Fior, our CFO. Steven Boal, our Executive Chairman, is here as well and available for questions after our prepared remarks.

Before we begin, please note that during this call, you will hear forward-looking statements. These forward-looking statements include projections for our first quarter and full year 2019; our expectations for solution, partnership, pricing strategies, growth drivers and platforms; as well as the expected growth of and investment in our business generally.

Forward-looking statements are based on information available to and the good faith beliefs of our management team as of the time of this call and are subject to known and unknown risks and uncertainties that could cause actual performances or results to differ materially. Additional information about factors that could potentially impact our financial results can be found in today's press release and in the risk factors identified in our quarterly report on Form 10-Q filed with the SEC on November 9, 2018. We disclaim any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events or otherwise.

Please note that with the exception of revenues, operating expenses, gross margins and net loss, financial measures discussed today are on a non-GAAP basis and have been adjusted to exclude certain expenses. A reconciliation between GAAP and non-GAAP measures can be found in the financial result press release issued today and in the slide deck posted on the company's website.

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

Executive
Mir Aamir

Thanks, Stacie, and welcome, everyone.

2018 was an exciting year. We delivered accelerated revenue growth, up 20% over 2017 as compared with 17% growth in 2017 over 2016. Adjusted EBITDA dollars in 2018 were up 22% over last year. We generated $22 million in cash from operations and ended the year with a strong balance sheet, over $320 million in cash and short-term investments.

During the year, we repurchased shares of our common stock for $16 million. We significantly expanded our solutions with the launch of retail performance media, and we enhanced our marketing technology platform with the strategic acquisitions of Ahalogy, SavingStar and Elevaate. We entered 2019 on solid footing and are excited about continuing to grow the business at