TechTarget, Inc. (NASDAQ:TTGT) Q1 2020 Earnings Conference Call - Final Transcript
May 06, 2020 • 05:00 pm ET
Good afternoon, and welcome to the TechTarget Q1 2020 Earnings Release Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to Charles Rennick, General Counsel. Please go ahead.
Charles D. Rennick
Thank you, Grant, and good afternoon. Joining me here today remotely are Greg Strakosch, our Executive Chairman; Mike Cotoia, our Chief Executive Officer; and Dan Noreck, our CFO. Before turning the call over to Greg, I'd like to remind everyone on the call of our earnings release process. As previously announced, in order to provide you with an update on the business in advance of the call, we have posted our Shareholder Letter on the Investor Relations section of our website and furnished it on an 8-K.
Following Greg's introductory remarks, the management team will be available to answer your questions. Any statements made today by TechTarget that are not factual may be considered forward-looking statements. These forward-looking statements are based on assumptions and are not guarantees of our future performance. Actual results may differ materially from our forecast.
Please refer to our risk factors in our periodic reports filed with the SEC. These statements speak only as of the date of this call, and TechTarget undertakes no obligation to update them. We may also refer to financial measures not prepared in accordance with GAAP. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measures accompanies our Shareholder Letter.
With that, I'll turn the call over to Greg.
Great. Thank you, Charlie. I hope everyone is healthy. We are very proud of the TechTarget team. We are very grateful for the resilience and positive spirit as productivity has remained high by working from home. Revenue grew in Q1 5% to $31.4 million; adjusted EBITDA grew 7% to $8.5 million; adjusted free cash flow was $7.7 million, representing 91% of adjusted EBITDA.
Our balance sheet remains strong with $45 million of cash and $23 million in term loan debt, but only $1.6 million of the debt is due for the rest of 2020. In the quarter, we purchased 736,000 shares of TechTarget stock. Today, we announced a new $25 million stock repurchase plan.
I will now open the call to questions.