Everbridge, Inc.

Good morning. Welcome to the Everbridge Third Quarter 2022 Earnings Conference Call. My name is Vaishnavi, and I will be your conference operator today. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Following management's remarks, we will open the call for your questions. To ask a question, you may press star, then one on a touch-tone phone. To withdraw your question, please press star, then two. I would like to remind everyone that this call will be recorded and made available for replay via a link in the investor relations section of the company's website. Now, I would like to turn the call over to Vice President of Investor Relations, Nandan Amladi. Sir, please proceed.

Thank you, Vaishnavi, and good morning, everyone. Welcome to Everbridge's earnings call for the third quarter of 2022. With me on the call today are Everbridge's President and CEO, David Wagner, and Executive Vice President and CFO, Patrick Berkley. Before the market opened, we issued our earnings release, which can be accessed on the Investor Relations section of our website at ir.everbridge.com. This call is being recorded, and a replay of the conference will be available on our Investor Relations website at the conclusion of today's event. During today's call, we will make forward-looking statements regarding future events or the financial performance of the company that involve certain risks and uncertainties. The company's actual results may differ materially from the projections described in such statements. Factors that might cause such differences include, but are not limited to, those included in our forms 10-Q and 10-K, as well as other subsequent filings with the SEC. Information provided on this call reflects our perspective only as of today. and should not be considered representative of our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements or our outlook. Also during today's call, we will refer to certain non-GAAP financial measures. The reconciliation of our GAAP to non-GAAP financial measures is included in our earnings press release that you can find on our Investor Relations website. Our earnings press release includes highlights from our third quarter in addition to our financial results and outlook. After we review our business and financial highlights, we will open the call for your questions. With that, let me turn the call over to Dave.

Dave? Thanks, Nandan. Good morning, and thank you, everyone, for joining us today. Last week marked my first 100 days at Everbridge. It has been a rigorous and exciting time. Over the last three months, I met with well over 100 of our investors, prospective investors, and analysts. I've had meaningful face-to-face interactions with dozens of our customers, and I've met one-on-one with nearly 200 of my colleagues. The senior leadership team and I spent many days and nights reviewing our operations, aligning on our value drivers, and beginning the process of implementing a strategic plan that we believe will drive the next phase of our growth heading into 2023 and beyond. The opportunity ahead for our business is compelling. To begin today's discussion and to set the foundation of our strategic plan, I'd like to start with an overview of how Everbridge came to be, where we are today, and how the new leadership team is planning for our future. As a company founded 20 years ago in the aftermath of September 11th, Everbridge built the world's premier critical event management, or CEM platform to deliver on our mission of enhancing enterprise resilience for our customers as they work to keep their businesses and people safe during critical situations. Our intelligent automation technologies helped us to capture a leading share of the CEM market. In doing so, we've scaled our platform to reach over 2 billion people globally and to deliver over $400 million of revenue annually. As a pioneer in CEM and public warning, Everbridge has become the leader in a growing early stage market. Over the past several years, the company rapidly expanded its capabilities and global presence. However, 2022 has been a year of discontinuity and major changes for Everbridge. and we are now maturing into the profitable growth stage of our corporate maturation, which will be characterized by stable, predictable growth and expanding profitability. As the team and I have taken a fresh look at where we are and where we're going, we see a clear path forward. We will continue to innovate, and we will serve our customers by integrating and building out our leading critical event management platform to support their maturing requirements for delivering enterprise resilience. However, we also foresee a lower growth rate in 2023 as we focus on organic revenue growth. As a result of this lower growth, we made the difficult decision to extend the strategic realignment that we announced in May, whereby we now expect that 200 more positions will be eliminated by the end of the fourth quarter. This action will allow us to adjust our cost structure, keep control of our financial future, and deliver predictable revenue growth for our shareholders. We expect earnings to grow faster than revenue for years to come as we simplify, modernize, and optimize our platform and our internal processes. The decision earlier in the year to pause material M&A is helping us to focus on execution and to make solid headway in product integration, back office integration, and sales and marketing optimization, which will drive even better customer experiences and opportunities for cost optimization. We see a clear path forward for $85 million of adjusted EBITDA in 2023 with a baseline expectation of total revenue growth in the 6% to 7% range as we lap growth from previous M&A continue to sharpen our focus on our core growth opportunities and further rationalize our portfolio of products. We are driving toward the rule of 30 as we exit 2023 with a plan to reach rule of 40 in the coming years. At the same time, while the team and I were refining our strategy, we continued to execute in Q3. As you can see from our earnings reliefs, the health of our business remains strong as we delivered another quarter of solid financial performance across the board. We grew revenue 15% and delivered strong bookings while generating a 14% adjusted EBITDA margin in the period. Overall, I am proud of the strides our team made this quarter toward positioning Everbridge for solid growth in 2023 and beyond. Before I go further, I will now turn the call over to our CFO, Patrick Brickley, to provide details on our financial results for Q3 and outlook for the remainder of the year. Patrick?