Goosehead Insurance, Inc (NASDAQ:GSHD) Q4 2019 Earnings Conference Call - Final Transcript

Mar 12, 2020 • 05:00 pm ET

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Goosehead Insurance, Inc (NASDAQ:GSHD) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Thank you for standing by. This is the conference operator. Welcome to the Goosehead Insurance Fourth Quarter 2019 Earnings Call. [Operator Instructions]

I would now like to turn the conference over to Dan Farrell, VP, Capital Markets. Please go ahead.

Executive
Dan Farrell

Thank you and good afternoon. With us today are Mark Jones, Chairman and Chief Executive Officer of Goosehead; Michael Colby, President and Chief Operating Officer; and Mark Colby, Chief Financial Officer. By now, everyone should have access to our earnings announcement, which was released prior to this call, which may also be found on our website at ir.gooseheadinsurance.com.

Before we begin our formal remarks, I need to remind everyone that part of our discussion today may include forward-looking statements, which are based on the expectations, estimates and projections of management as of today. The forward-looking statements in our discussion are subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These statements are not guarantees of future performance and therefore, undue reliance should not be placed upon them. We refer all of you to our recent filings with the SEC for a more detailed discussion of the risks and uncertainties that could impact the future operating results and financial condition of Goosehead Insurance. We disclaim any intentions or obligations to update or revise any forward-looking statements except to the extent required by applicable law.

I would also like to point out that during this call, we may discuss certain financial measures that are not prepared in accordance with GAAP. Management uses these non-GAAP financial measures when planning, monitoring and evaluating our performance. We consider these non-GAAP financial measures to be useful metrics for management and investors to facilitate operating performance comparisons from period to period by excluding potential differences caused by variations in capital structures, tax position, depreciation, amortization and certain other items that we believe are not representative of our core business. For more information regarding our use of non-GAAP financial measures, including reconciliations of these measures to the most comparable GAAP financial measures, we refer you to today's earnings release.

In addition, this call is being webcast and an archived version will be available shortly after the call ends on the Investor Relations portion of the Company's website at www.gooseheadinsurance.com.

With that, I'd like to turn the call over to CEO, Mark Jones.

Executive
Mark E. Jones

Thanks, Dan and welcome to our fourth quarter and full year 2019 earnings call. I'll provide an overview of our results for the year as well as our strategy and outlook. I'll then hand it over to Mike Colby, our President and Chief Operating Officer, to discuss some of our recent people and technology investments that are advancing our already significant competitive advantage. Our CFO, Mark Colby, will then go into greater detail on our fourth quarter and full year results as well as a detailed discussion on the impacts of adopting ASC 606.