Glu Mobile, Inc. (NASDAQ:GLUU) Q2 2019 Earnings Conference Call - Final Transcript

Aug 01, 2019 • 05:00 pm ET


Glu Mobile, Inc. (NASDAQ:GLUU) Q2 2019 Earnings Conference Call - Final Transcript


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Good afternoon, ladies and gentlemen, and welcome to the Q2 2019 Glu Mobile earnings conference call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Harman Singh, Vice President of Finance and Investor Relations. You may begin, sir.

Harman Singh

Good afternoon, everyone, and thank you for joining us on Glu Mobile's Second Quarter 2019 Earnings Conference Call. On the call today are Nick Earl, President and Chief Executive Officer; and Eric Ludwig, COO and Chief Financial Officer. During this call, we will be making forward-looking statements regarding future events and the future financial performance of the company. Any forward-looking statements that we make today are based on assumptions that the company believes to be reasonable as of this date. We undertake no obligation to update these statements as a result of future events. We caution you to consider the important factors that could cause actual results to differ materially from those in the forward-looking statements in the press release and during this conference call. These risk factors are described more fully in our documents filed with the SEC, specifically the most recent reports on Forms 10-K and 10-Q. During this call, we will present both GAAP and non-GAAP financial measures.

The non-GAAP financial measures are not intended to be considered in isolation from, a substitute for or superior to our GAAP results, and we encourage investors to consider all measures before making any investment decision. For complete information regarding our non-GAAP financial information, the most directly comparable GAAP measures and a quantitative reconciliation of those figures, please refer to the supplemental presentation accompanying today's earnings call that can be accessed via our investor website, As a reminder, consistent with our financial presentation and for all the information aside from bookings or as otherwise stated below, we will discuss results on a GAAP basis and refer you to changes in deferred revenue, the deferred cost of revenue and the non-GAAP operating expenses total in our financial tables.

This data will provide a GAAP to non-GAAP reconciliation of the quarter's financial results based on the same methodology we've used in prior quarters. We are also providing a supplementary Excel file on our IR website to more easily aid in this reconciliation. Both the PowerPoint and Excel file are now accessible on the website. We encourage you to follow along with the slides during this earnings conference call.

And with that, I would like to turn the call over to Nick.

Nick Earl

Thanks, Harman. Hello, everyone, and thank you for joining us today for Glu's second quarter 2019 earnings call. I will provide an overview of the quarter's highlights and our game development progress and Eric will then discuss the quarter's financial results and our guidance in more detail. We reported solid financial results in the second quarter that were in line with our expectations. We produced our largest bookings quarter ever of $101.9 million with strong profitability on an adjusted