Cornerstone OnDemand, Inc. (NASDAQ:CSOD) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 08:30 am ET


Cornerstone OnDemand, Inc. (NASDAQ:CSOD) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to Cornerstone OnDemand's Third Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder today's program is being recorded.

And now I'd like to introduce your host for today's program, Jason Gold Cornerstone's Vice President of Finance and Corporate Development. Please go ahead.

Jason Gold

Good morning, everyone and welcome to Cornerstone OnDemand's Third Quarter 2019 Earnings Call. Before I read the obligatory Safe Harbor disclaimer, I'd like to point out that in the letter we've outlined our Investor Relations calendar for the quarter, including the conferences we will attend and when we plan to enter into our quiet period. If you'd like to participate in any of our scheduled events, please feel free to reach out.

And now, for our disclaimer. Our press release and shareholder letter were both furnished with the SEC in a Form 8-K, we plan to file our Form 10-Q for the third quarter prior to the deadline on November 12. You can access the shareholder letter, press release and related investor materials including detailed financials on our Investor Relations website.

As a reminder, today's call is being recorded and a replay will be made available following the conclusion of the call. Our discussion will include forward-looking statements, including but not limited to statements regarding the expected performance of our business, our future financial and operating performance including our GAAP and non-GAAP guidance, strategy, long-term growth and overall future prospects.

Forward-looking statements involve risks, uncertainties and assumptions. These risks, uncertainties and assumptions as well as other factors that could cause actual results to differ materially from those contained in our forward-looking statements are included in our most recent 10-Q and 10-K, as well as subsequent periodic filings with the SEC.

During the call, we will be referring to both GAAP and non-GAAP financial measures, all financial measures discussed today are non-GAAP, unless we state that the measure is a GAAP number. The reconciliation of our GAAP to non-GAAP information is provided in our shareholder letter and in our press release.

With that I'd like to turn the call over to Adam.

Adam Miller

Thanks, Jason, and good morning everyone. As I think about our performance for the first three quarters of 2019, I'm quite pleased with what our team has accomplished and feel good about our transformation and our positioning for the future.

Despite some recent noise in the macro economy globally, our outlook for the balance of the year remains solid and we've raised our guidance across all metrics accordingly. Over the past few quarters, we've talked a lot about how we think the combination of our Learning Suite and our emerging content offering has started to create a flywheel effect, which we believe distances us from our traditional competitors. We've also talked about the benefits we get from the immense volume of data we have collected over the