BioTelemetry, Inc. (NASDAQ:BEAT) Q3 2019 Earnings Conference Call Transcript

Nov 05, 2019 • 05:00 pm ET

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BioTelemetry, Inc. (NASDAQ:BEAT) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good afternoon. Thank you for joining us for the BioTelemetry Third Quarter 2019 Earnings Conference Call.

Certain statements during this conference call and question-and-answer period to follow may relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities and Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance, or achievements of the Company in the future to be materially different from the statements that the Company's executives may make today. These risks are described in detail in our public filings with the Securities and Exchange Commission, including our latest periodic report on Form 10-K or 10-Q. We assume no duty to update these statements.

During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release, which is distributed and available to available to the public through the Investor Information section of the BioTelemetry website at gobio.com. At this time, all participants have been placed on a listen-only mode. The floor will be open for questions and comments following the presentation.

It is now my pleasure to turn the call -- floor over to your host, Mr. Joseph Capper President and CEO of BioTelemet. Sir, you may begin.

Executive
Joseph H. Capper

Thank you, operator, and good afternoon, everyone. I'm Joe Capper, President and CEO of BioTelemetry. With me for today's call is Heather Getz, our Chief Financial Officer.

I'll start with highlights about our third quarter performance and other recent developments. Heather will take you through a detailed review of our financial results. I will then provide commentary on how we anticipate closing out the calendar year and why we believe 2020 is setting up to be another tremendous year for BioTelemetry. As always, we will open up the call for questions after our prepared remarks.

I am pleased to report that we delivered another excellent quarter, once again leading or exceeding all of our expectations, marking our 29th consecutive growth quarter. As you may recall from prior years, the third quarter is usually our toughest from a seasonal perspective, with revenue typically pulling back on a sequential basis. Because we had an acceleration of MCT growth during Q3, this year's pullback was nominal compared to prior years, a particularly positive indicator for the business.

Over the years, our commitment to product innovation, combined with exceptional client service, has provided us with numerous competitive advantages and consistent results. We now possess an unrivaled portfolio of connected health solutions that is taking the Company to new heights. Our innovation in the cardiac monitoring market has produced the most technologically advanced and expansive offering in the industry. As a result, BioTelemetry remains the far and away leader in this market. And like all successful growth companies, we seek to augment our growth through the acquisition of other accomplished innovators whenever possible.

Earlier this year, we delivered on that strategy once