j2 Global, Inc. (NASDAQ:JCOM) Q2 2020 Earnings Conference Call - Final Transcript

Aug 11, 2020 • 08:30 am ET


j2 Global, Inc. (NASDAQ:JCOM) Q2 2020 Earnings Conference Call - Final Transcript


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Welcome to J2 Global's Second Quarter 2020 Earnings Call. I am Michelle, the operator who'll be assisting you today.

[Operator Instructions] On this call will be Vivek Shah, CEO of J2 Global and Scott Turicchi, President and CFO of J2. I will now turn the call over to Scott Turicchi President and CFO of J2 Global.

Thank you, you may begin.

Scott Turicchi

Thank you. Good morning, ladies and gentlemen, and welcome to the J2 Global Investor Conference Call for Q2 2020. As the operator mentioned I'm Scott Turicchi, President and CFO of J2 Global, joining me today is our CEO, Vivek Shah.

We had our best second fiscal quarter ever, setting records for revenue, adjusted EBITDA, non-GAAP earnings per share, and free cash flow. In addition, due to our strong free cash flow generation, we ended the quarter with more than $616 million of cash. In addition, our Board authorized a 10 million share repurchase program through August 6th, 2025.

We will use the presentation as a roadmap for today's call. A copy of the presentation is available at our website. When you launch the webcast, there is a button on the viewer on the right-hand side, which will allow you to expand the slides. If you have not received a copy of the press release, you may access it through our corporate website at j2global.com. In addition, you will be able to access the webcast from this site.

After completing the formal presentation, we'll be conducting a Q&A session. The operator will instruct you at that time regarding the procedures for asking a question. However, you may e-mail us questions at any time at investor@j2global.com.

Before we begin our prepared remarks, allow me to read the Safe Harbor language. As you know, this call and the webcast will include forward-looking statements. Such statements may involve risks and uncertainties that would cause actual results to differ materially from the anticipated results.

Some of those risks and uncertainties include, but are not limited to, the risk factors that we have disclosed in our various SEC filings, including our 10-K filings, recent 10-Q filings, various proxy statements and 8-K filings as well as additional risk factors that we have included as part of the slideshow for this webcast. We refer you to discussions in those documents regarding Safe Harbor language as well as forward-looking statements.

Now, let me turn the call over to Vivek for his opening remarks.

Vivek Shah

Thank you, Scott, and good morning, everyone. Second quarter of 2020 was the most challenging and disruptive quarter our economy has ever faced. With GDP in the United States estimated to have declined an unprecedented 32.9%, this period presents a test of business resilience unlike any we've ever seen before.

I'm proud to say that J2 passed with flying colors on every financial metric; revenue, adjusted EBITDA, adjusted EPS, and cash flow, we exceeded our expectations, and remarkably, set records. This is a tribute to the thousands of hard working and focused employees at J2 around