Park City Group Inc. (NASDAQ:PCYG) Q1 2020 Earnings Conference Call - Final Transcript
Nov 07, 2019 • 04:15 pm ET
Good day everyone, and welcome to today's Park City Group Fiscal First Quarter 2020 Earnings Call. [Operator Instructions]
It is now my pleasure to turn today's program over to Rob Fink of FNK IR.
Thank you, operator, and good afternoon everyone. Thank you for joining us today for Park City Group's fiscal 2020 first quarter earnings call. Hosting the call today are Mr. Randy Fields, Park City Group's CEO and Chairman, and John Merrill, Park City Group's CFO.
Before we begin, I would like to remind everyone, this call could contain forward-looking statements about Park City Group within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not subject to historical facts. Such forward-looking statements are based upon current, beliefs and expectations, Park City Group management are subject to risks and uncertainties which could cause actual results to differ from forward-looking statements. Such risks are fully discussed in the Company's filings with the Securities and Exchange Commission.
The information set forth herein should not be -- should be considered in light of such risks. Park City Group does not assume any obligation to update information contained in this conference call. Shortly after the market closed today the Company issued a press release overviewing the financial results that we will discuss on today's call. Investors can visit the Investor Relations section of the Company's website at parkcitygroup.com to access this news release.
In addition in our earnings release and on this call, we may refer to GAAP and non-GAAP financial results including free cash flow, EBITDA, adjusted EBITDA and adjusted earnings per share, which are non-GAAP terms. We believe these non-GAAP terms are useful measures for the Company primarily because of the significant non-cash charges in its operating statement. Reconciliations of GAAP and non-GAAP results are in the earnings release and on the Investor Relations website. With all that said, I would now like to turn the call over to John. John, the floor is yours.
Thanks, Rob. During the first quarter, Park City Group continued to build upon its strengths. We have a large and growing network of blue-chip customers in the largest industry sector of the economy. We have a simple story that is resonating with customers. We get retailers and the suppliers compliant give them visibility to actionable information through our supply chain channels and allow the customer to source, vet and transact business through MarketPlace.
We provide solutions to our customers in a regulatory environment that is increasingly complex. We provide solutions that address the accelerating threat from online retailers like Amazon that makes our tools not only attractive, but a necessity. We have a strong balance sheet, the strongest in our history and a proven ability to generate cash.
Cash balances and cash generation is increasingly important today for our customers peace of mind. Strategically we remain laser-focused on growing our base of recurring revenue within compliance and supply chain as we advance our MarketPlace solution, which is transactional