AquaVenture Holdings Limited (NYSE:WAAS) Q2 2019 Earnings Conference Call - Final Transcript

Aug 07, 2019 • 08:00 am ET

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AquaVenture Holdings Limited (NYSE:WAAS) Q2 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning and welcome to the AquaVenture Holdings' Second Quarter 2019 Earnings Conference Call. Today's call is being recorded, and we have allocated time for prepared remarks and Q&A.

At this time, I would like to turn the conference over to Courtney Denihan, Investor Relations at AquaVenture. Thank you. Please go ahead.

Executive
Courtney Denihan

Thank you, operator. Good morning, everyone. We released our earnings press release this morning and posted a slide presentation to the Investor Relations section of our website at investors.aquaventure.com. We will be referencing the slides during this call. Present on today's call are Tony Ibarguen, Chief Executive Officer; Lee Muller, Chief Financial Officer; and Doug Brown, Chairman of the Board. Before we begin, let me remind everyone that this call may contain certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These include remarks about future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to AquaVenture's strategic focus; our forecast of full year 2019 financial results; our ability to produce positive operating cash flows; expectations regarding future business development and acquisition activities; expectations regarding performance, growth, cash flows and margins from recently completed and pending acquisitions; the impacts on operating results of the timing, size integration and accounting treatment of acquisitions and other business development activities; and AquaVenture's ability to successfully integrate and operate the acquired businesses or assets and to achieve the expected financial contributions, including EBITDA from them.

Such statements are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those indicated or implied by such statements. Such risks and other factors are set forth in our annual report on Form 10-K filed with the Securities and Exchange Commission on March 11, 2019, and in our subsequent filings with the Securities and Exchange Commission. We do not undertake any duty to update such forward-looking statements. In addition, during today's call, we will discuss non-GAAP measures and other key metrics, which, we believe, can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP measures to the most comparable GAAP measure can be found in our earnings release.

I would now like to turn the call over to our Chief Executive Officer, Tony Ibarguen.

Executive
Anthony Ibarguen

Good morning, and thank you for joining us on today's call. I'd like to start today's call by commenting on our overall performance during the second quarter of 2019, including both financial and operating highlights. Lee will then walk you through our financial results in more detail. And I'll return to provide an update on our outlook for 2019 and some closing remarks. And finally, Doug, Lee and I will take your questions. Starting on Slide 3. AquaVenture had another impressive quarter with revenues of $51.4 million, representing a 49.2% year-over-year increase. This increase was comprised