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Beyond, Inc.
10/25/2024
I'm the executive chairman of Beyond. Thank you for coming today. Today is going to be broken up into two distinct sections. First, we're going to spend some time, a material amount of time, on the third quarter results as well as get into the strategic vision of where we're going. Before we jump into the details and Alexis reads the safe harbor, I want to be clear that as we review things today, what you're not going to hear us talk about is the macro environment, interest rates at a 20-year high, consumer demand and inflation. We're going to stay away from all of that because in our honest opinion, what we truly believe is fixable in our own business is absent the macro issues. And as the macro repairs itself and comes back, I think everybody will be a benefactor of all of that.
Thank you, Marcus. My name is Alexis Callahan. As most of you know, I head up investor relations for Beyond. We're excited about today's presentation and your interest with us today. You'll be hearing from several members of management today, including Executive Chairman Marcus Limonis. Chief Financial and Administrative Officer Adrian Lee, President Dave Nielsen, Chief Digital Information Officer Gunsha Mehta, Chief Brand Marketing Officer Jennifer Evans, SVP of Finance and Corporate Development Alex Thomas, and VP of Loyalty and Partnerships Tim Ryan. We'll also have a few special guests to be introduced later. During our time today, we will discuss the quarter, how we are restoring our core businesses, as well as walk you through our strategic vision and where we are going. Before we dive in, a few cautionary statements. Today's discussion and our responses to your questions reflect management's views as of today, October 24th, 2024, and may include forward-looking statements. Actual results could differ materially from such statements. Additional information about risks, uncertainties and other important factors that could potentially impact our financial results is included in our form 10 K for the year ended December 31st, 2023 and our form 10 Q for the quarter ended June 30th, 2024. and in our subsequent filings with the SEC. During this call, we'll discuss certain non-GAAP financial measures. The slides accompanying this webcast, those published this morning on our IR site, and our filings with the SEC contain additional disclosures regarding these non-GAAP measures, including reconciliations of these measures to the most comparable GAAP measures. You can find a copy of both of these presentations today on our investor relations website. We would encourage you to review the forward-looking statement disclosure on slide two of each. As a reminder, this webcast is being recorded and will be available for replay on our investor relations website following the conclusion of today's live event. Finally, as Marcus mentioned, our intention with this event is to be highly interactive. So we'd invite you to ask questions as they arise. We'd like this to be as conversational as possible. Just one housekeeping item, we will be taking several breaks throughout this session. So with that, let me turn it back to you, Marcus.
Great, thank you, Alexis. As Alexis mentioned, we're looking for more of a fireside environment today as opposed to us just talking at everybody. As we get into the Q3 financials, we're going to spend a significant amount of time going through each of these boxes, because obviously the results on the bottom line are unacceptable to us as a management team. As we look back at the last 12 months, we're going to show you several slides that show you the sequential improvement. But these six boxes are going to get distilled down to essentially three problems, conversion, margin, and SG&A. And throughout the day, we're going to keep coming back to conversion, margin, and SG&A and what we're going to do about those things. I'm going to have Adrian take us through the financial results for the quarter.
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