Care.com, Inc. (NYSE:CRCM) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 08:00 am ET

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Care.com, Inc. (NYSE:CRCM) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the Care.com Third Quarter Earnings Call. [Operator Instructions] A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

It is now my pleasure to introduce your host Mr. Jon Wright, Senior Director of Finance. Thank you. You may begin.

Executive
Jonathan Wright

Thank you. Good morning and welcome to Care.com's financial results call for the third quarter ended September 30, 2019.

During the course of this conference call, we will discuss our business outlook and make other forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These may include, among other things, projected financial results or operating metrics, anticipated business and marketing investments and strategies and expected results of those investments and strategies, anticipated future products or services, anticipated market demand or opportunities for our products and services, anticipated management transitions and other forward-looking topics.

Such statements are only predictions based on management's current expectations. Actual results or events could differ materially from these predictions due to a number of risks and uncertainties, including those set forth in the press release we issued today as well as those more fully described in our filings with the Securities and Exchange Commission.

In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if our views change. Therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.

We will be also referring to non-GAAP measures on this call, including adjusted EBITDA, which we refer to as EBITDA throughout this presentation. This measure represents pretax net income or loss from continuing operations, excluding the accretion of preferred stock dividends, less depreciation and amortization as well as certain other unusual expenses and non-cash adjustments, such as stock-based comp, M&A and restructuring costs.

We also refer to non-GAAP EPS, which represents net income or loss, less certain unusual or non-cash expenses, such as stock-based comp, M&A, restructuring costs and the realization of a valuation allowance on deferred tax assets. These non-GAAP measures are not prepared in accordance with Generally Accepting Accounting Principles. Reconciliations to the most directly comparable GAAP financial measures are provided in the tables in the press release and Form 10-Q filed this morning.

We will also be referring to profitability on this call. When we refer to profitability, we're referring to it on an adjusted EBITDA basis, unless otherwise noted. Today's call is available via webcast and a telephone replay will be available for two weeks following the conclusion of the call. To access the press release, supplemental and financial information or the webcast replay, please consult the IR website.

With that, let me turn the call over to Sheila Lirio Marcelo, Founder, Chairwoman and CEO of Care.com.

Executive
Sheila Lirio Marcelo

Thank you, Jon,