USA Technologies Inc. (NASDAQ:USAT) Q3 2020 Earnings Conference Call - Final Transcript

Jun 24, 2020 • 04:30 pm ET


USA Technologies Inc. (NASDAQ:USAT) Q3 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the USA Technologies Third Quarter Fiscal Year 2020 Earnings Conference Call.

[Operator Instructions]

I would now like to hand your conference over to your first speaker today, Alicia Nieva-Woodgate, VP of Corporate Communications and Investor Relations for USA Technologies. Please go ahead.

Alicia V. Nieva-Woodgate

Thank you, and good afternoon, everyone.

Welcome to the USA Technologies third quarter fiscal 2020 earnings conference call. With me on the call this afternoon are Sean Feeney, Chief Executive Officer, Michael Wasserfuhr, Chief Financial Officer, Anant Agrawal, Chief Revenue Officer, and Doug Bergeron, Chairman of the Board.

Before we begin today's call, I would like to remind you that all statements included in this call, other than statements of historical facts, are forward-looking in nature. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, business, financial, market and economic conditions. A detailed discussion of the risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included with our filings with the SEC and in the press release issued earlier today. Listeners are cautioned not to place undue reliance on any such forward-looking statements, which reflect management's view only as of the date they are made. USA Technologies undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.

This call will also include a discussion of certain non-GAAP financial measures that we believe are useful for, among other things, evaluating USA Technologies's operating results. These non-GAAP financial measures are supplemental to and not a substitute for GAAP financial measures, such as net income or loss. Details of these non-GAAP financial measures, a presentation of the most directly comparable GAAP financial measures and a reconciliation between these non-GAAP financial measures as well as the most comparable GAAP financial measures could be found in our press release issued this afternoon, which has been posted on the Investor Relations section of our website at

And with that, I'd now like to turn the call over to Doug Bergeron. Doug?

Sean Feeney

Alicia, we may have lost Doug. He's going to dial back in. So maybe we'll just jump to me. This is Sean Feeney, the Chief Executive Officer. And Doug had a fabulous introduction that he was going to make about me, but we'll jump right into.

So it's a great pleasure to join you all today on my first earnings call. I look forward to reporting results that I've actually been involved in driving going forward. I joined US Technologies [Phonetic] because I believe the company has a great opportunity to build on its history and begin to write a great new chapter, and I'm thrilled to have the chance to lead the company as we begin that journey. I want to first take this chance to thank the employees on our team at US Technologies for their tenacity and