SeaChange International, Inc. (NASDAQ:SEAC) Q2 2020 Earnings Conference Call Transcript

Aug 29, 2019 • 05:00 pm ET

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SeaChange International, Inc. (NASDAQ:SEAC) Q2 2020 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the SeaChange Corporation Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. If you have not already done so, please close all other programs on your computer. [Operator Instructions] It is now my pleasure to introduce, Mary Conway, Investor Relations. Thank you. You may begin.

Executive
Mary Conway

Thank you, Diego. Good afternoon, everyone and thank you for joining us. SeaChange released final results for the second quarter of fiscal 2020 ended July 31, 2019 today after the market closed. If you would like a copy of the press release you can access it on the IR Section of our website at investors.seachange.com. With me on today's call are Mark Bonney, Executive Chair; Yossi Aloni, Chief Executive Officer; Peter Faubert, Chief Financial Officer; and Marek Kielczewski, Chief Technology Officer. This call is being webcast and will be archived on the Investor Relations section of our website.

Before Mark begins, I'd like to remind you that the information we're about to discuss today may include forward-looking statements, which are based on the current expectations that are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. These risks are outlined in our SEC filings, including our annual report on Form 10-K which was filed on April 12, 2019. Any forward-looking statement should be considered in light of those factors. Additionally, this presentation contains certain non-GAAP or adjusted financial measures as defined by the SEC. We have provided a reconciliation of these measures to the most directly comparable GAAP measures in the tables attached to the press release.

And with that, I'd like to turn the call over to Mark. Mark?

Executive
Mark Bonney

Thank you, Mary. Good afternoon and thank you all for your continuing interest in SeaChange. As Mary indicated and you've seen in our earnings press release, we announced that Yossi Aloni, previously our Chief Commercial Officer, has been named our President and Chief Executive Officer effective today. I have worked very closely with Yossi over the past five months, and I have been impressed with his depth of knowledge of the industry, both the people side and the technology and technical details of the various offerings in the market. Yossi has also demonstrated excellent leadership, and the Board and I are confident that he has the capability and passion to drive SeaChange forward. Congratulations, Yossi.

Chad Hassler, previously our Head of North American Sales, has replaced Yossi as Chief Commercial Officer. Very well known to Yossi, having worked together for 20 years, Chad is well positioned to drive the sales organization to achieve our growth objectives going forward.

Now, turning to our second quarter results, the second quarter was a period of important achievements for SeaChange. We strengthened our Framework offering with the addition of the seventh generation of our Backoffice solution, also known as Adrenalin, as well as the addition of our Orchestrator and Analytics engines.

Our financial performance compared to the second quarter last