Finjan Holdings, Inc. (NASDAQ:FNJN) Q1 2020 Earnings Conference Call - Final Transcript

May 13, 2020 • 04:30 pm ET


Finjan Holdings, Inc. (NASDAQ:FNJN) Q1 2020 Earnings Conference Call - Final Transcript


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Thank you for standing by. This is the conference operator. Welcome to the Finjan Holdings Shareholder Update Conference Call. [Operator Instructions]

I would now like to turn the conference over to Valter Pinto, Managing Director, KCSA Strategic Communications. Please go ahead, sir.

Valter Pinto

Hello, everyone, and thank you for joining us today for our shareholder update conference call. Joining me on today's call are Phil Hartstein, Finjan's President and Chief Executive Officer; and Jevan Anderson, Chief Financial Officer. As a reminder, this call is being webcast, and a replay of the webcast will be available on our website.

Turning to our Safe Harbor. During the course of this call, we may make statements related to our overall business outlook, future financial operating results, outcomes of pending and future litigation, accounting matters and future prospects of our operating subsidiaries. These are forward-looking statements based on certain assumptions and are subject to a number of risks and uncertainties that could cause future results to differ materially from our expectations. You can learn more about these risks in our most recent filings with the SEC. These documents are available on the Investor Relations page of our website at We assume no obligation to update any forward-looking statements.

With that, I'd like to turn the call over to Phil Hartstein, President and CEO. Phil?

Phil Hartstein

Good afternoon, and thank you for joining us. Before we begin our prepared remarks, I would like to extend my well wishes to everyone who's listening to our call today, our entire team, all of your respective families. I hope everyone is doing well and staying healthy during the COVID pandemic.

COVID-19 is impacting every business in one way or another, and Finjan is not immune to this global pandemic. At this time, the most important thing for us is the safety of our employees, vendors and their families. So we have made some adjustments operationally. Fortunately, for us, we have a business model that affords quite a bit of flexibility to work remotely, at least for the time being. To date, that has been relatively seamless for our operations. However, some aspects of our business are out of our control. For example, the Federal Court system, which, as we experienced with our recent ESET mistrial, relies upon the general public to sit as jurors in our patent trials.

Additional timing issues have presented themselves, but scheduling of our pre-existing docketed matters is beginning to normalize. I must say that I am pleased with the court's swift action during this shutdown to make certain adjustments to the courtroom settings and procedures in an effort to continue operating.

As everyone now knows, in the first half of this year, we were approaching two significant trials. ESET was up in March, followed by Cisco in June. Just as we were being introduced to the COVID pandemic, our first trial with ESET concluded in a mistrial after a full week of testimony. Just yesterday, we had a scheduling conference with the court to discuss