TransEnterix Inc (NYSE:TRXC) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 04:30 pm ET


TransEnterix Inc (NYSE:TRXC) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the TransEnterix Third Quarter 2019 Corporate Update Conference Call. As a reminder, today's call is being webcast live and recorded.

I would like to introduce your host for today, Mr. Mark Klausner of Westwicke. Please go ahead.

Mark Klausner

Thanks operator. Good afternoon, everyone, and thank you for joining us on today's call. On the call with me today are Paul LaViolette, Chairman of the Board of Directors; Anthony Fernando, President and Chief Executive Officer; and Joe Slattery, Executive Vice President and Chief Financial Officer. As a reminder, this call is being webcast live and recorded and we will be referencing a slide presentation in conjunction with our remarks.

Because there was a short delay between the live telephone audio and the presentation being shown on tenderness webcast, for the best experience please use either the webcast for both the audio and video content or if you dialed in by telephone download the slides from our website and advance them yourselves. To access the webcast please visit the Events section of the IR section of our website, and a replay of the event will be available following the call.

Before we begin, I would like to caution listeners that certain information discussed by management during this conference call, including any guidance provided, are forward-looking statements covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with the company's business. The company undertakes no obligation to update the information provided on this call. For a discussion of risks and uncertainties associated with TransEnterix business, I encourage you to review the company's filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2018, filed on February 27, 2019, and the Form 10-Q for the quarter ended September 30, 2019, expected to be filed prior to the filing deadline and the other filings we make with the SEC.

During this call, we will also present certain non-GAAP financial information related to adjusted net loss and adjusted earnings per share. Management believes that non-GAAP financial measures taken in conjunction with US GAAP financial measures provide useful information for both management and investors by excluding certain non-cash and other expenses that are not indicative of the company's core operating results. Management uses non-GAAP measures to compare our performance relative to forecast and strategic plans to benchmark our performance externally against competitors and for certain compensation decisions. Reconciliations from US GAAP to non-GAAP results are presented in the tables accompanying our earnings release, which can be found in the Investor Relations section of our website.

With that, it's now my pleasure to introduce TransEnterix Chairman of the Board of Directors, Paul LaViolette.

Paul LaViolette

Thank you, Mark. I am joining the call today to discuss our recent CEO transition, and share with you the Board's perspective of the company. I'd like to begin