iClick Interactive Asia Group Limited (NASDAQ:ICLK) Q1 2020 Earnings Conference Call - Final Transcript

May 22, 2020 • 08:00 am ET


iClick Interactive Asia Group Limited (NASDAQ:ICLK) Q1 2020 Earnings Conference Call - Final Transcript


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Good evening, and good day, and welcome to the iClick Interactive Asia Group Limited First Quarter 2020 Financial Results Conference Call.

[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 Lisa Li, Senior Manager IR. Please go ahead.

Lisa Li

Hello, everyone, and welcome to iClick's first quarter 2020 financial results conference call. The Company's results were issued earlier today and are posted online. You can download the earnings press release and sign up for our distribution list by visiting the IR section of our website at ir.i-click.com.

Sammy Hsieh, our Chairman of the Board and Co-Founder, will provide a high-level overview of the first quarter of 2020 for us; then Jian Tang, TJ, Chief Executive Officer and Co-Founder of iClick, will review first quarter results, share insights on our focus and execution strategy; followed by our Chief Financial Officer, Terence Li, who will give us more highlights on the financial results and guidance for the rest of 2020. Then, we will turn the call back over to TJ for closing remarks and open the call for Q&A.

Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the Company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the Company's 20-F as filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update any forward-looking statements, except as required under applicable law.

Please also note that iClick's earnings press release and this conference call include discussions of unaudited GAAP financial information, as well as unaudited non-GAAP financial measures. iClick's press release contains a reconciliation of the unaudited non-GAAP measures to the most directly comparable unaudited GAAP measures.

I will now turn the call over to our Chairman of the Board and Co-Founder, Sammy Hsieh. Sammy, please go ahead.

Sammy Wing Hong Hsieh

Thank you, Lisa. I am extremely excited to share our first quarter financial results, which were robust despite the continuing impact of the COVID-19 pandemic. We delivered the strongest first quarter results compared to any other first quarter in our Company's history, as we reported record high revenues, gross profit, adjusted EBITDA, adjusted net income and gross billings. I'm also proud to report that we have realized a second consecutive quarter of adjusted net income, which demonstrates the profit capabilities of our business model, as we reach higher economies of scale. TJ and Terence will provide more details on the results later in the call.

These numbers reflect solid growth, as we are still operating in a very challenging environment. Little by little, life is beginning to return to normal in China. We see restrictions being lifted and the economy slowly restarting with measures in place to prevent our second wave of