BRP Group, Inc. (NASDAQ:BRP) Q3 2019 Earnings Conference Call - Preliminary Transcript
Dec 02, 2019 • 05:00 pm ET
30 2019 revenue rose 72% to 101.3 million compared to 59 million in the prior year period. Attributable to our 2019 partnerships organic growth and a full nine months of contribution from our 2018 partnerships for the same nine months ended September 30, 2019 adjusted EBITDA rose 68%
9.2 million over the prior year period to 22.6 million for the same period, unaudited pro forma revenue which assumes our 2019 partnerships have been acquired on January 1 2018 was 116 million turning to our balance sheet as of September 30 2019. We had cash and cash equivalents of 11.1 million and long-term in related party debt of 193.4 million. Subsequent to the end of the quarter, we successfully completed our IPO, offering, generating approximately $42 million of net proceeds. A portion of the proceeds was used to repay the subordinated debt of 88.4 million and we can currently close the agreement additionally, last week we repaid a 65 million portion of our revolving line of credit agreement and now have borrowing capacity of 85 million under that agreement with that, I thank you for your time and we'll now open up the call for Q&A. Operator.