Eterna Therapeutics (ERNA) 12 Aug 192019 Q2 Earnings call transcript

Good day, ladies and gentlemen, and welcome to the Q2 2019 NTN Buzztime Inc. Earnings Conference Call. At this time, all participants are in a listen only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, this call is being recorded.

to Investor call Relations. like Chapman to now LHA, from would turn over the Kirsten I Ma'am, may you begin.

quarter call Thank you. today second us you for results Good afternoon, everyone for and NTN webcast. and thank joining XXXX conference Buzztime's

and Joining After Allen open call the Ram will Wolff. for we CFO, questions. us remarks, CEO, today the are Krishnan; prepared

are and we let or me call. expectations conference risks, make may management about other begin, may remind future this factors known be results the Before cause actual forward-looking plans. different and subject uncertainties or statements the expressed Such call, any during from unknown results you that to materially statements that implied during to Company's

Company's fully to ability and in in facilities covenants ownership more filings. credit property additional improve to cause results and the around and the comply compete to obligations company's and with financial include, satisfy platform streams uncertainties to successfully industry; based to future differ customer and changing Buffalo and Avid relationship described Company's its the the and and effectively within the that risks consumer introduce with intellectual the Company's technology; favorable Potential ability raise on others products, highly game terms; actual other of funds Company's to consumer entertainment the Company's the services; the payment maintain and competitive ability rapidly Bank; acceptance under the Company's interactive our revenue games Wild new adoption ability not to and limited Wings, and of materially SEC with or but ability its are enforcement

publicly by statements current as other to expectations, reason. projections on update undertakes to any information call required this company based forward-looking statements on any The The obligation for or forward-looking no is revise except or conference law. related

to call Krishnan. Ram. ahead, my Now the it turn to CEO, is over Ram pleasure go Please

It EBITDA. of quarter, from our quarter as a a XXth both consecutive standpoint Thanks, product positive closed posting second our commercially. We development very Kirsten. quarter busy as well

jump right just in So let's today.

signed we XX franchisees Holdings, foremost, extend represents at the the Buffalo locations This XXXX. more Restaurant than contract are and agreement little Wings of service the a Wild its largest Wings end Buzztime units, an to Diversified to Wild with franchise the XX% of First of one Buffalo community.

work believe when fashion. continue it There's our some our November Wild a driven we to they renew While that will relationship, we from auction. approaching opposed to historical we do, mobile we with are we based agreement prefer as only tablet expect we our corporate, expires. change as Buffalo relationship possibility trivia our Wings in to If significantly solution,

that run, will and the the While, results. platform know and that's through need evolution delivers it's this. in our business We disappointing of line do to value short generates with our the transition in roadmap

We work have the fast been economics. at adjusting

the findings While, completed We share Media. study. remained. has mechanisms strong the There few. value from a several recently Nielsen I'll may performed study an were core by change, the audience

quickly. we our network XX% are information build their visit scale to one the bar lighter decision powerful to and content us have network, notices are to our of the the pursue our who enables actually they of This most along, contributed in XX% content and We network restaurant on country. that largest is patrons locations, that XX% the playing likely passively, offering recalls as and at ad visit. and second screen, our

busy products. use less This launches. been we three product, known lower our have We've with our at into customers good segue product and costs has price. lighter a that can that focus, and one We it's needed new a been us a

QX. this to We new and took our effectively. is fully in sell market that ad direct advertiser immediately. an this We to install ad which inventory The more first platform validating platform first our us sale launched on is base our with enables our

inventory exchange of up We so portion the to opened network ad small and the accounts a far. also our on book that date

as with to us network. once some revenue we well. program an the appealing believe minimal expected, initial what's We just our make before the platform make and complete in it possible to national of gives advertisers as up plan best our which indication to While, August open entire network robust, open is entire started enhancements more we to more in the we become up interest

our mobile on basic a phase. venue our in May, player's launched device. is app play Second beta we that own enables In

app balance of release the process energizing a and testing TV the feedback. XX,XXX address the will features been proliferate. mobile been new create interface new games we games. little development adding reached this and already to we've TV Now far. app downloads has leverage screen intend and little content an quiet the launch, We've watching advertising. grow the to to good and social capacity and customer the on right features With and reserving by we're been It's continues to ensure new for to additional pretty And Gameplay continue so experience.

more first release capital testing basic small and Buzztime field with offering new up our game the of big version our technology is team. platform test and enables market. lower to that a our We're price in and a market engine reduce signing third lite us of sales cost our locations reach at A

XX locations. been up features inside including the that the new we We and co-branding then, number more we to offering has to at the are up product Since the up coming pricing And will locations light acquire product locations. venue in promotion days XX. June, go-to-market new several XX funnel limited to opened integration and test for and We're pleased the and the of as have of pace app. install well, In our we the in itself, signed testing new able first we've market. promotion

between engagement venues. brands be driving evolving As in about and and are be players, we will are business, we always

us easily that Our and faster. markets goal to have more to is accessible more get services technology

the several see being driven by key capabilities. business Buzztime can our model of You

events, core business XXX part a with continue month are our to connecting plus in venues. be is First customers venues and of live we These per events.

begin opening connect product and will the them well. hub to to We to as brands provide this side our audience opportunity

Next is subscription.

continue for built is sites model that to that use We a audience perfect or have sell platform. and an subscription signage tablets digital

advertising, ad use platform and entire Third expanding our is the monetize we're to our aim lightest and network. it also offering to

translate inventory substantial into network have locations ad inventory. We today. more in More will the

Finally, potential for our as can app we the increases, the of transactions. mobile use see endgame

do downloaded, and features range As wide there a our capabilities deployed app mobile of are and can is unlock we transactions.

and help us with prudent alternatives we and to to our strategic to operating the to and explore evaluate are position financing expand. continue capital, better we company execute While plan

are largest customer, a approach with be things to Given our change sense strong we in adjusting our SG&A economics. of the taking offset our will to run where rate

tablet of and to doubling however first more partner see interest to from tablets a order. are Our platform second that investments continue announce the order jail our in we the than our quantity excited just placed

fulfill and and This Just their a for eyes, customers. we for and in partner rugged win – new and build reaffirms contracts a to platform. capabilities accounts expect they strong we our performance alongside tablets continue to is as tablet go grow our tablet segment growing of and

to deliver piloting. casual software integrating with We're be dining This initial a X $X X expected the XX has range POS in also potential months. to approximately onto their some major revenue next tablets. million $X to We to on chain XX million million, working the order in the our over million after

are deliver and will While, for take both clients off time to very build complete it us to key of. anchor

Allen. to Now call I'll hand over the

Ram. you, Thank

quarter of was subscription For the in $X.X reflecting of $X.X million second to revenue prior compared a XXXX, revenue revenue. other million, decrease and revenue

basic by due events. an professional We quarter development sites other revenue, at the advertising total locations, compared X,XXX end the last to sites with offset excluding our [Technical Specifically ended and hosted decreases in new of saw our Difficulty] quarter. second revenues increase live Buzztime

direct prior XX% $X.X service year fees. reflecting impact in million compared and of to quarter the Margin $X.X costs provider prior improved Second from lowest period, XX% were period. Gross million, other in the year the to

expenses and than $X.X to further management QX $XX from million cost forecast initiatives million. million, primarily to XXXX We reduce expected continue are plan that compared XXXX, to $XX.X million to impose to less SG&A management efforts. SG&A cost to expense SG&A $X.X were in due optimize

the $X.XX per For or $X.XX per of year second compared period. share, $XX,XXX quarter XXXX, attributable the $XXX,XXX net was shareholders common without or the in loss prior loss share

line the XXth We are $XXX,XXX where pleased the we EBITDA. year. consecutive to was that is in This quarter recognize $XXX,XXX EBITDA prior positive report in with

million compared and first cash six XXXX. compared cash $XXX,XXX year for Cash, was total prior $X.X year the flow period. positive of the months at to restricted in $X $X.X the operations and equivalents million, Cash to year million

based as and carefully very light hardware cash products. capital monetize and manage advertising shift to continue our We mobile we platform to

$X.X ended year a million reflecting customer. to quarter to inside million in $X.X tablets large to equipment of XXXX, the a continued prepaid We with delivery installed, be compared

to to objectives while One to of our ways optimize inventory our balance reducing find levels. is sheet continue

$XXX,XXX, million receivable As was XX, decreasing accounts $X.X end year June from of at XXXX.

plans, will we and execution lighter to our expanding review hardware our for under to ecosystem. growing which vision ahead, for within and look successful growth new Buzztime expansion the markets continue we As on position product business best and options capital include our our

now the turn call Ram. back to will over I

the core growth tablet Buzztime our of new platform Thanks, new platform transformative app product result time and as from lower Allen. in light at This We our regional and way markets is sell blocks seeing in a basis. ad and an the seeing easier our in mobile local it we distributed the believe a cost and building product on have now, a to and to monetize core market. model we're

national in. different will the market, As begin the that exploring we economic revenue we expansion while models test watched in at looking work

Thanks conference for you call. for the Operator, on forward next now reporting listening. questions. to line open look more can We successes

at would like Thank call Ram I Krishnan And remark. closing the any back this you. I'm [Operator questions turn time. for to to showing Instructions] not now

everyone well, for again Okay, thanks next and to joining you, you thank us. We'll quarter. operator talk

today's a you disconnect. program Ladies you may conference. and for great have day. all conclude in gentlemen, thank and does the This participating Everyone