TechTarget, Inc. (NASDAQ:TTGT) Q3 2023 Earnings Call Transcript
TechTarget, Inc. (NASDAQ:TTGT) Q3 2023 Earnings Call Transcript November 8, 2023
TechTarget, Inc. misses on earnings expectations. Reported EPS is $0.06176 EPS, expectations were $0.39.
Operator: Good afternoon. Thank you for attending the TechTarget Reports Third Quarter 2023 Conference Call and Webcast. My name is Alexis and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call. There’s an opportunity for questions-and-answers at the end. I would now like to pass the conference over to Charles Rennick. You may proceed.
Charles Rennick: Thank you, Alexis, and good afternoon, everyone. Joining me here today are Greg Strakosch, our Executive Chairman; Mike Cotoia, our CEO; and Dan Noreck, our CFO. Before turning the call over to Greg, I'd like to remind everyone on the call of our earnings release process. As previously announced, in order to provide you with an update on our business in advance of the call, we've posted our shareholder letter on the Investor Relations section of our website and furnished it on an 8-K. Following Greg's introductory remarks, the management team will be available to answer your questions. Any statements made today by TechTarget that are not factual including during the Q&A may be considered forward-looking statements.
These forward-looking statements, which are subject to risks and uncertainties are based on assumptions and are not guarantees of our future performance. Actual results may differ materially from our forecast and from these forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including those discussed in the Risk Factors section of our filings with the SEC. These statements speak only as of the date of this call, and TechTarget undertakes no obligation to revise or update any forward-looking statements in order to reflect events that may arise after this conference call except as required by law. Finally, we may also refer to certain financial measures not prepared in accordance with GAAP. A reconciliation of certain of these non-GAAP financial measures to the most comparable GAAP measures to the extent available without unreasonable efforts accompanies our shareholder letter.
With that, I'll turn the call over to Greg.
Greg Strakosch: Great. Thank you, Charlie. As stated last quarter, we feel like we are bouncing along the bottom of the sales cycle. While we haven't seen material signs of improvement yet, we also haven't seen material cycles suggest further deterioration is on the horizon. We excited our guidance range for Q3 and are maintaining our 2023 full year guidance. We are pleased that an extremely difficult year in the technology market, we expect to produce 30% adjusted EBITDA line. Our philosophy is to use our leadership position and strong balance sheet during the downturn to prepare for a future recovery in demand through investments in the value we provide to our technology buyers and our product offering for our customers. Our experience tells that these investments will be rewarded when spending returns to more normalized levels. I will now open the call to questions.
See also 30 Best Whiskeys Under $30 and 15 Countries with the Highest Alcohol Consumption in Europe.
To continue reading the Q&A session, please click here.
