Cimpress plc

Ladies and gentlemen, thank you for standing by. Welcome to the SEMPRA second quarter fiscal year 2025 earnings call. I will introduce Meredith Burns, Vice President of Investor Relations and Sustainability. Please go ahead.

Thank you, Michelle, and thank you for everyone joining us. With us today are Robert Keene, our Founder, Chairman, and Chief Executive Officer, and Sean Quinn, EVP and Chief Financial Officer. We appreciate the time that you've dedicated to understand our results, commentary, and outlook. This live Q&A session will last about 45 minutes or so. We got a lot of questions, and we'll answer both pre-submitted and live questions. You can submit questions via the questions and answers box at the bottom left of the screen. Before we start, I'll note that in this session, we will make statements about the future. Our actual results may differ materially from these statements due to risk factors that are outlined in detail, in our SEC filings and the documents we published yesterday on our website. We also have published non-GAAP reconciliations for our financial results on our IR website, and we invite you to read all of them. And now I will turn things over to Robert.

Well, thank you, Meredith, and thanks to all of you who are joining us today. As we covered in last night's release, we continue to progress against the objectives that I outlined in my letter to you and to all investors at the end of July. and which we also covered in detail in our September Investor Day. That being said, our Q2 results were not what we were planning to deliver, and that was due to a number of different items, which Sean is going to cover in a moment. To be clear, we consider the financial results we just delivered to be disappointing. We understand the underlying issues behind them. We are addressing those issues, and we're doubling down to ensure that we continue to progress against what are very well established and communicated strategic and operational objectives. And that's why we believe that in the coming quarters and years when we look back at the second quarter of this fiscal 25, it's going to be seen as turbulence rather than a change of the upward financial path, which we have been on for the past several years. In our earnings document, I outlined a number of examples that give us confidence in our ability to grow our profits and our cash flow in the ways we've described. Focused production hubs that cut the cost of goods that we produce and also increase revenues via new product introduction are one example of that. Others are the pending launch of our upload and print business model in the U.S. Another example is the high growth of Vista's highest value customers and their strong growth at Vista and across all of Sympress in new growth categories. All of these exemplify the progress that we've made and the opportunity we have ahead for the remainder of the fiscal year and beyond this fiscal year. If you haven't read that part of the earnings document yet, I do strongly encourage you to do so, and I look forward to taking your questions on these topics shortly. More details also available in the September 10th Investor Day presentation. All the things we're doing here described in those documents are activities that we believe are going to extend our competitive advantages and enable SimPress to continue our long track record of profitable growth for years to come. In most of our businesses, we do face headwinds of slowing growth in some products and channels. However, we have tailwinds from higher growth product categories that are growing stronger every year. And those tailwinds are in areas of our market that represent a much larger portion of our total addressable market than the market segments of our legacy products. Now, I founded this business 30 years ago this month, and there are a lot that has stayed true over the last three decades. First of all, we continue to operate in a very large market that still is served primarily by traditional suppliers and competitors. Second, our scale-based competitive advantages cross multiple parts of our value chain and give us market-leading capabilities. Importantly, our strategy remains constant to what we've been pursuing for the last several years, and we are maintaining what we call our focus on focus. In other words, an execution rigor to capitalize on our opportunity. Financially speaking, as I just mentioned before, we do feel confident that having exited the turbulence of the past quarter, we can return to the financial path of our previously provided outlook. And when you combine all this together, I'm very confident that as ever, we have an ability to grow our per share value over time. And with that, I'd like to turn this over to you, Sean, to discuss some of the finance results and outlook in more detail.