Vocera Communications, Inc. (NYSE:VCRA) Q2 2020 Earnings Conference Call - Final Transcript

Jul 27, 2020 • 05:00 pm ET


Vocera Communications, Inc. (NYSE:VCRA) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the Vocera Communications conference call. My name is Gabriel, and I'll be your coordinator for today. [Operator instructions]

I would now like to turn the presentation over to Justin Spencer, Vocera's Chief Financial Officer. Please proceed.

Justin Spencer

Hello, everyone. Welcome to Vocera's conference call to discuss our Second Quarter 2020 Earnings. Joining me on the call today is Brent Lang, our CEO. Sue Dooley is currently out on personal leave, so please reach out to me directly with any follow-up requests. Earlier this afternoon, we distributed a press release detailing our quarterly results. The release is posted on our website at investors.vocera.com and is also available from normal news sources.

This conference call is being webcast live on the Investor Relations page of our website where a replay will be archived. Before we begin our prepared remarks, I'd like to take this opportunity to remind you that during the course of this call, we will make forward-looking statements regarding projected operating results and anticipated market opportunities.This forward-looking information is subject to risks and uncertainties described in Vocera's filings with the SEC, and actual results or events may differ materially.

Except as required by law, we undertake no obligation to update or revise these forward-looking statements. On this call, we will refer to both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in our posted earnings release.

With that, let me turn the call over to Brent.

Brent D. Lang

Thanks, Justin. Hello, everyone. I want to wish all of you good health and safety as we live through the global endemic. Once again, this quarter, a main theme for our call will be describing how we are operating and excelling in this changed -- challenging environment. I want to start the call by saying, I could not be more proud of the job that Vocera's employees have done to remain focused on the task at hand and to deliver outstanding results for our customers and our investors.

Q2 was an incredibly challenging quarter for our world and for our company. We fought through rapidly changing market dynamics, accelerated our supply chain, executed in an unprecedented work-from-home environment and navigated the economic and psychological impact of the global pandemic. We evolved our marketing messages, innovated our product offerings and adapted our go-to-market approach for both sales and service to delivery to a remote work environment.

Through it all, our employees were inspired by our mission to improve the lives of patients and caregivers, and we rose to the occasion to meet these challenges. This translated to excellent performance in our business across the board. Revenues for the quarter were over $47 million, representing solid year-over-year growth and exceeding expectations. We also had a great bookings performance, driven by both urgent orders to respond to COVID outbreaks and large strategic wins with some new marquee customers.

Our professional services team persevered by continuing deployments, both on-site and via remote needs. Badge shipments remain strong, and