Limelight Networks, Inc.

Good afternoon, and welcome to the Limelight Network's first quarter 2021 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Dan Bonsell, Chief Financial Officer. Please go ahead.

Good afternoon. Thank you for joining Limelight Network's 2021 First Quarter Financial Results Conference Call. This call is being recorded today, April 29, 2021, and will be archived on our website for approximately 10 days. Let me start by quickly covering the safe harbor. We would like to remind everyone that we will be making forward-looking statements on this call. Forward-looking statements are all statements that are not strictly statements of historical fact, such as our priorities, our expectations, our operational plans, business strategies, secular trends, and product and feature functionalities. Actual results could differ materially from those contemplated by our forward-looking statements, and reported results should not be considered as an indication of future performance. For more information, please refer to the risk factors discussed in our periodic filings, including our most recent annual report on Form 10-K. The forward-looking statements on this call are based on information available to us as of today's date, and we disclaim any obligation to update any forward-looking statements except as required by law. Joining me on the call today is Bob Lyons, our President and Chief Executive Officer. Bob will start today's call detailing recent accomplishments in pursuit of our three strategic pillars for growth. I'll then review financial results in detail. Following that, Bob will use the remainder of the call to discuss our plan going forward. We will then open the call for Q&A. I'll now turn the call over to Bob. Thank you, Dan, and welcome, everyone.

In last quarter's call, we outlined the foundation of our strategy to improve shareholder value. It is supported by three pillars, each of which balance our immediate and longer-term growth and profitability objectives. They are, first, improving our core, which focuses on client performance and profitability. Second, expanding our core, which focuses on improving our land and expand commercial motions. And third, extending our core. focused on pursuing additional solutions and non peak traffic customers to diversify our revenue and improve our network utilization. I also shared my commitment to transparency and accountability. Having had 90 days to dig into more detail, let me share a bit more color on our loss of momentum in our recent three quarters. As previously discussed, price compression has been a significant contributor. Additionally, we have seen some reductions in our traffic related to client SLA performance. Our plan is to return our company to our heritage of delivering best-in-class performance to our clients. It is something that our people take deep pride in, but we simply lost our focus. Over the past 30 days, we have gotten refocused and are again fully committed and resourced to support our best-in-class performance heritage. We have implemented a rigorous and disciplined process that spans all aspects of our network and our client operations. More specifically, we have established an advanced performance engineering team a collection of our most talented engineers who are chartered with the sole purpose of ongoing tuning and performance and improvement across our client-defined key performance indicators. We have also refreshed the discipline and training of our operational change management. We have strengthened our client success practices with improved tools and processes, enabling us to engage with a much deeper client understanding. And last, each of these teams and processes operate with a daily stand-up meeting and a weekly war room review process. Our industry typically competes on fractions of a percentage difference in performance. With our initial performance improvements, we have experienced the following results. We have seen a top client metric rebuffer rate improve by up to 30%. Our global network throughput has increased by up to 20%. An increase in our Latin America traffic by 40%. And most importantly, we have seen an increase in share of traffic from several large customers. These early indications of progress are no doubt moving us in the right direction. Still, there remains more work to do. At this time, I will turn the call over to Dan to report first quarter financials, guidance for the remainder of the year, and how we expect to achieve that guidance. Dan?