SeaChange International, Inc. (NASDAQ:SEAC) Q2 2021 Earnings Conference Call - Final Transcript
Sep 08, 2020 • 05:00 pm ET
Good afternoon, and welcome to SeaChange's Fiscal Second Quarter 2021 Conference Call for the period ended July 31, 2020. My name is Diego, and I'll be your operator this afternoon. Joining me for today's call is the Company's Chief Executive Officer, Yossi Aloni; Chief Commercial Officer, Chad Hassler; and Chief Financial Officer, Michael Prinn.
After the market closed, SeaChange issued its financial results for the fiscal first quarter of 2021 in a press release, a copy of which is available in the Investors section of the Company's website at investors.seachange.com. To accompany today's call, the Company has made available its prepared remarks along with a supplemental slide deck, both of which are posted in the Investors section of SeaChange's website. Management encourages you to download the slide deck, if you haven't done so already.
Before we begin today's call, I'd like everyone to please take note of the Safe Harbor paragraph that is included at the end of today's press release. This paragraph emphasizes the major uncertainties and risks inherent in the forward-looking statements that management will be making today. As we have indicated, forward-looking statements are based on management's current expectations, and are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties are also outlined in the Company's SEC filings, including its annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements should be considered in light of these factors.
Additionally, this presentation contains certain non-GAAP financial measures as that term is defined by the SEC in Regulation G. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP. Accordingly, SeaChange has provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures in the Company's earnings release issued today.
I would like to remind everyone that this call is being recorded and will be available for replay via a link available in the Investor Relations section of SeaChange's website.
Now, I would like to turn the call over to SeaChange's CEO, Mr. Yossi Aloni. Sir, please proceed.
Thanks, operator. Good afternoon and thank you for joining our second quarter fiscal 2021 conference call. As many of you know, the global COVID pandemic continued to present challenges for business worldwide. And while the crisis has dramatically transformed the TV industry in terms of content consumption, it also forced most TV providers to postpone their decisions for a few months in favor of supporting their existing operations and infrastructure. This was certainly the case for SeaChange customers and prospects in the first half of the year. This dynamic has impacted our business in the near-term. It's also generating new opportunities and growing interest in our framework solution, with a unique value-based engagement as TV providers look to reduce their operating expenses.
Over the last decade, the television advertising industry has faced a steady decline in revenues to online