Marrone Bio Innovations, Inc. (NASDAQ:MBII) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 04:30 pm ET

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Marrone Bio Innovations, Inc. (NASDAQ:MBII) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, everyone and welcome to the Marrone Bio Innovations Third Quarter 2019 Earnings Conference. [Operator Instructions] At this time, I would like to turn the conference over to Ms. Linda Moore, General Counsel. Please go ahead.

Executive
Linda V. Moore

Good afternoon, everyone and thank you for joining our call. Welcome to the 2019 Third Quarter Earnings Conference Call for Marrone Bio Innovations. On the call today are CEO, Pam Marrone; President and CFO, Jim Boyd; and Chief Commercial Officer, Kevin Hammill.

If you would please refer to Slide 2, I would like to remind you that this conference call may contain statements regarding management's expectations, hopes, beliefs, intentions or strategies regarding the future as well as projections, forecasts or other characterizations of future events or circumstances. Such statements are based on management's current expectations and beliefs concerning future developments and their potential effects on the company.

There can be no assurance that future developments affecting the company will be those that management has anticipated. Such statements involve a number of risks and uncertainties, some of which are beyond management's control or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these statements.

Important factors that could cause differences are contained in the reports filed by the company with the Securities and Exchange Commission, including under the heading Risk Factors, and elsewhere in the company's annual report on Form 10-K for the year ended 2018 and in our earnings release posted on the company's website.

Should one or more of these risks and uncertainties materialize, or should any of management's assumptions prove incorrect, actual results may vary in material respects from those discussed today.

Any guidance that management may offer in this conference call represents a point in time estimate.

The company expressly disclaims any obligation to revise or update any guidance or other forward-looking statements to reflect events or circumstances that may arise after the date of this call. After our remarks, we will hold a question-and-answer session.

I will now turn the call over to our President and CFO, Jim Boyd. Jim ?

Executive
James B. Boyd

Thank you, Linda. And thank you to everyone for joining us on this call. In the third quarter, we continued to drive revenue growth in margin expansion. We continued to build upon our platform with recent acquisitions that offer near-term accretion and expand our global reach. In addition, we continued to make strategic investments in our R&D pipeline and commercial team, while also establishing a new financing facility that gives us cost-effective and flexible options, all of which accelerate our path to breakeven.

As I'll discuss in more detail, some of these strategic investments had non-reoccurring operating expenses associated with them, but they are an important investment in our long-term growth. We have a firm view of what our underlined expense structure should be and have invested in our commercial team to deliver our growth potential.

If you would turn to Slide 3, let's start with the third quarter