Everbridge, Inc.

Good morning and welcome to the Everbridge Inc. 4th Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal Conference Specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would like to turn the conference over to Nandan Ahmadi, VP of Investor Relations. Please go ahead.

Thank you, Anthony, and good morning, everyone. Welcome to Everbridge's earnings call for the fourth quarter and full year 2022. With me on today's call are Everbridge's President and CEO, Dave Wagner, and Executive Vice President and CFO, Patrick Brickley. Earlier this morning, 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 teleconference 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 involves 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 discussed in our Forms 10-Q and 10-K, as well as 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. A reconciliation of our GAAP to non-GAAP financial measures is included in our earnings press release, which you can find on our Investor Relations website. Our earnings press release includes highlights from our fourth quarter, fiscal year 22, in addition to our financial results and outlook. After we review our business and financial highlights, we will open the call for questions. With that, let me turn the call over to Dave. Dave?

Thanks, Nandan. Good morning, everyone, and welcome to Everbridge's earnings call for the fourth quarter and full year of 2022. I am very pleased with the financial results we released earlier this morning. For the fourth quarter, we achieved revenue of $117.1 million an increase of 14% year-over-year, adjusted EBITDA of $19.6 million, an increase of $19 million from $572,000 a year ago, and annual recurring revenue of $384 million, which is up $14 million or 4% quarter-over-quarter, our largest quarter-over-quarter increase of the year. I am also pleased that the team executed these strong results while also executing a 10% headcount reduction in the quarter. We entered Q4 with 1,893 employees and ended the year with 1,713. Our team demonstrated incredible resilience. In addition to the strong operational results, we completed the repurchase of over $300 million in face value of our 2024 notes. reducing our net debt by approximately $28 million in the quarter. Each of these results demonstrates our commitment to execute against the plan we discussed at our Investor Day in December. Our strategy is anchored on our 20-year commitment to keeping people safe and organizations running by digitizing organizational resilience. We deliver our customers intelligent automation technology that empowers them to anticipate, mitigate, respond to, and recover from critical events. We serve customers of all sizes, but our focus for the next five years will be on larger enterprises and governments with the resources to fully leverage our solutions. And we are focused on driving annual recurring revenue with the aim of achieving $1 billion in ARR over the long term. Our results for the fourth quarter demonstrate strong initial steps on our journey. Entering 2023, we are confident in our baseline 6% to 7% revenue growth rate and in achieving $85 million in adjusted EBITDA. Before I go further, I will now turn the call over to our CFO, Patrick Brickley, to provide details on our financial results for the fourth quarter and full year, as well as our updated outlook for 2023. after which I will return to provide more detailed commentary on the quarter. Patrick?