Care.com, Inc. (NYSE:CRCM) Q4 2018 Earnings Conference Call - Final Transcript

Mar 07, 2019 • 08:00 am ET

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Care.com, Inc. (NYSE:CRCM) Q4 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to Care.com's Fourth Quarter and Full Year 2018 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.

It is now my pleasure to turn the call over to, Mike Goss, Vice President of Finance for Care.com. Please go ahead, Mike.

Executive
Mike Goss

Thank you. Good morning, and welcome to Care.com's financial results call for the fourth quarter and full year ended December 29, 2018.

During the course of this conference call, we will discuss our business outlook and make other forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These may include, among other things, projected financial results or operating metrics, anticipated business and marketing investments, as well as strategies and expected results of those investments and strategies, anticipated future products or services, anticipated market demand or opportunities for our products and services and other forward-looking topics.

Such statements are only predictions based on Management's current expectations. Actual results or events could differ materially from those predictions due to a number of risks and uncertainties, including those set forth in the press release we issued today, as well as those more fully described in our filings with the Securities and Exchange Commission.

In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our views change except as required by law. Therefore, you should not rely on these forward-looking statements, as representing our views, as of any date subsequent to today.

We will also be referring to non-GAAP measures on this call, including adjusted EBITDA, which we refer to as EBITDA throughout this presentation. This measure represents pretax net income from continuing operations which excludes the accretion of preferred stock dividends and issuance costs, as well as federal and state franchise taxes and other income expense net, depreciation and amortization, stock-based compensation, accretion of contingent consideration, merger and acquisition related costs and other unusual or non-significant adjustments such as impairment or restructuring charges.

We also refer to non-GAAP EPS, which excludes the accretion of preferred stock dividends, plus stock based compensation, accretion of contingent consideration, merger and acquisition related costs and other unusual or non-significant cap (ph) adjustments such as impairment, restructuring charges and the release of valuation allowance for deferred taxes due to projections of taxable income. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations to the most directly comparable GAAP financial measures are provided in the tables in the press release issued today, which is available on our IR website.

We will also be referring to profitability on this call. When we refer to profitability, we're referring to it on