Rubicon Project (NYSE:RUBI) Q1 2020 Earnings Conference Call - Final Transcript

May 06, 2020 • 04:30 pm ET


Rubicon Project (NYSE:RUBI) Q1 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Rubicon Project First Quarter 2020 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Nick Kormeluk of Investor Relations. Please go ahead.

Nick Kormeluk

Thank you, operator, and good afternoon everyone. Welcome to Rubicon Project's first quarter 2020 earnings conference call following our merger with Telaria. Since the Telaria merger closed subsequent to the close of the first quarter, full financial results and our 10-Q will be presented on a Rubicon Project stand-alone basis, and we will provide summary results and commentary for Telaria's first quarter performance. On this call, we will provide commentary on combined business trends following the impact of COVID-19 and actions we are taking to adjust.

As a reminder, this conference call is being recorded. Joining me on the call today are Michael Barrett, CEO; David Day, our CFO; and Mark Zagorski, President and COO, for the Q&A session, all from different locations. I would like to point out that we have posted our financial highlights slides to our Investor Relations website to accompany today's presentation.

Before we get started, I'll remind you that our prepared remarks and answers to questions will include information that might be considered to be forward-looking statements, including, but not limited to, statements concerning our anticipated financial performance and strategic objectives, including the potential impacts of the COVID-19 pandemic on our business. These statements are not guarantees of future performance. They reflect our current views with respect to future events, and are based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements, including with respect to the severity and duration of the COVID-19 pandemic.

A discussion of these and other risks, uncertainties and assumptions is set forth in the company's period reports filed with the SEC, including our 2019 annual report on Form 10-K and subsequent filings, and including our 10-Q for the first quarter of 2020. We undertake no obligation to update forward-looking statements or relevant risks.

Our commentary here today will include non-GAAP financial measures. Reconciliations between GAAP and non-GAAP metrics for our reported results can be found in our earnings press release and in the financial highlights deck that is posted on our Investor Relations website. We define cash flow as adjusted EBITDA less capital expenditures, which excludes changes in working capital.

At times, in response to your questions, we may offer incremental metrics to provide greater insights into the dynamics of our business. Please be advised that this additional detail may be one-time in nature, and we may or may not provide an update on the future of these metrics. I encourage you to visit the Investor Relations website to access our press release, financial highlights deck, periodic SEC reports and webcast replay of today's call to learn more about Rubicon Project.

I will now turn the call over