Leaf Group Ltd (NYSE:LEAF) Q1 2019 Earnings Conference Call Transcript

May 08, 2019 • 02:00 pm ET


Leaf Group Ltd (NYSE:LEAF) Q1 2019 Earnings Conference Call Transcript


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Good afternoon. My name is Christine, and I will be your conference operator today. At this time, I would like to welcome everyone to Leaf Group's First Quarter 2019 Earnings Call. On the call with me today is Sean Moriarty, CEO; Jantoon Reigersman, CFO; and Shawn Milne, Investor Relations.

Shawn Milne, you may begin the conference.

Shawn Milne

Good afternoon, everyone. On behalf of Leaf Group, welcome to our conference call. I'm pleased to have Sean Moriarty, our Chief Executive Officer; and Jantoon Reigersman, our Chief Financial Officer, on the call with me today. Any metrics discussed on the call without reference to a specific third-party source are based on our internal data.

You will find the letter to shareholders and a related release along with supplemental materials posted on the Investor Relations section of our corporate website located at ir.leafgroup.com. Before we get started, we need to make the following safe harbor statement. We would like to remind everyone that during today's conference call, management will make certain forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from our current expectations discussed in such forward-looking statements.

In particular, comments about our anticipated future revenue, earnings, operating expenses, operating metrics and growth rates, as well as statements regarding our business strategy and objectives, plans, intentions, operating outlook, planned investments and the impact of recent acquisitions are considered forward-looking statements.

Factors that could cause actual results to differ materially from anticipated results are detailed in our letter to shareholders, earnings release and our SEC filings. I would like to point out that during the call, we will discuss certain non-GAAP financial measures while talking about the Company's financial and operating performance, including adjusted EBITDA and free cash flow. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures can be found in the financial tables included at the end of our letter to shareholders and press release.

Lastly, I would like to remind everyone that today's conference call is being recorded and that it is also available via webcast through the Investor Relations section of our corporate website. A replay will also be available on our website.

With that, I'll now turn the call over to our CEO, Sean Moriarty.

Sean Moriarty

Thank you, Shawn. Good afternoon, everyone, and welcome to our Q1 2019 earnings call. Before we jump into the Q&A, I'll provide a brief update. As many of you know, April was an eventful month for Leaf Group. On April 15, we announced that the Company had commenced a comprehensive review of strategic alternatives. The process is ongoing, and we will not be making further announcements until the Board has approved the course of action requiring disclosure. On April 16, Osmium unilaterally terminated their potential proxy contest with the Company.

We also announced that we have added Lanny Baker, the CFO of Yelp, to our Board of Directors. Lanny brings a wealth of financial and operational experience in leading and advising consumer