DHI Group, Inc.

Good day and welcome to the DHI Group, Inc. First Quarter 2022 Financial Results Conference Call. 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. 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 Todd Curley. Please go ahead.

Thank you, Operator. Good afternoon, and welcome to DHI Group's Fiscal 2022 First Quarter Earnings Conference Call. With me on today's call are DHI's CEO, Art Zaley, and Chief Financial Officer, Kevin Bostic. Before I turn the call over to Art, I'd like to cover a few quick items. This afternoon, DHI issued a press release announcing its Fiscal 2022 First Quarter financial results. The release is available on the company's website at dhigroupinc.com. This call is being broadcast live over the internet for all interested parties, and the webcast will be archived on the investor relations page of the company's website. I want to remind everyone that during today's call, management will make forward-looking statements that involve risks and uncertainties. Please note that except for the historical information, statements on today's call may constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. When used, the words anticipate, believe, expect, intend, future, and other similar expressions identify forward-looking statements. These forward-looking statements reflect DHIA management's current views concerning future events and financial performance and are subject to risk. and uncertainties and actual results may differ materially from the outcomes contained in any forward-looking statements. Factors that could cause these forward-looking statements to differ from actual results include delays in development, marketing or sales, the adverse impact of an uncertainty surrounding the COVID-19 pandemic, and other risks and uncertainties discussed in the company's periodic reports on Form 10-K and 10-Q and other filings with the Securities Exchange Commission. DHI undertakes no obligation to update or revise any forward-looking statements. Lastly, during today's call, management will be referring to specific financial measures, including adjusted EBITDA, adjusted EBITDA margin, and adjusted EBITDA – adjusted earnings per share that are not prepared in accordance with U.S. GAAP. Information about and reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are available in our earnings release and on our website at dhigroupinc.com in the Investor Relations section. I'll now turn the call over to Art Zailey, CEO of DHI Group.

Thank you, Todd. Good afternoon, everyone, and welcome to our fiscal 2022 first quarter earnings conference call. Thank you for joining us today. I'm happy to report that we again delivered outstanding financial results for the quarter. with total bookings growth of 32% year-over-year and total revenue growth of 29% as more employers are using our subscription-based offering. As demand for technologists continues to grow at a rapid pace and their unemployment rate remains at an all-time low, employers need our growing community of technologists and our sophisticated toolset to find, attract, engage, and hire the highest quality tech professionals. During the first quarter, U.S. employers posted 1.1 million tech jobs, 43% more than a year earlier, according to information technology trade group CompTIA. At the same time, DICE's proprietary annual salary report, which we shared in January, indicated that average tech salaries increased 6.9% from 2020 to 2021. A recent McKinsey study gives some insight for these data points, explaining that due to the pandemic, businesses have accelerated their digital efforts and technology initiatives by three to four years. Furthermore, the report states that the pandemic had an even bigger impact on those companies focused specifically on digital products and portfolios, accelerating their plans by seven years. All of these activities require technologists to build platforms and products, maintain and sustain tech infrastructure and to continue to drive digital efforts forward. Dyson clearance jobs are tech-focused career marketplaces that attract the highest quality tech professionals and enable employers to find and engage these skilled candidates as they look to fill the millions of new technology jobs flowing into the U.S. economy. Both sites use our proprietary skills mapping technology that was recently approved for patent US Patent Office. Our skills mapping algorithms allow our clients to find and engage with the best tech candidates for their open positions and provide a substantial competitive advantage for both Dice and CJ. Unlike generalist career sites, we are solely focused on serving the technology market where candidates are measured on the technology skills that they have acquired over their career and not job titles. Now let me dig into both of our brands' performance during the quarter and where we see them heading. Let's start with Dice, which addresses our largest market opportunity. Our bookings for Dice increased 32% year-over-year in the first quarter, and our revenue renewal rate continued to grow, coming in at 104%. All this resulted in our Dice revenue for the quarter increasing 29% year-over-year. Dice has two opportunities for expansion in front of it as it directly serves the growing market demand for technologists. Dice Commercial Accounts is our largest white space opportunity with tens of thousands of companies in the U.S. looking to hire high-quality tech professionals. These are companies like Bloomberg, Blue Shield of California, Capital One, Disney, TIAA-CREF, and Walgreens that are all using our tool internally to find and engage the right technologists to fuel their digital strategies. These tens of thousands of companies embarking on digital initiatives are an ideal target for our commercial accounts team to sell the Dice career marketplace. The staffing and recruiting industry is the second growth opportunity for Dice, with over 18,000 staffing and recruiting firms operating in the United States. Today, we service approximately 4,000 of them. leaving us with a significant opportunity to expand in this client segment as well. Combined, we believe that these two client segments have a total addressable market value of over a billion dollars annually. To capitalize on these two large growth opportunities, we continue to add incremental new sales professionals during the quarter. We also continue to increase our marketing spend to generate more qualified leads to fuel our expanding new business teams. In the first quarter, our new business teams were successful in converting leads to new clients. As a result, our Dice customer base grew sequentially for the fifth consecutive quarter, adding 245 net new clients. In addition to successfully driving new bookings through our improved sales and marketing efforts, We are also focused on generating increased brand awareness to further expand our technologist community by increasing the size of our Dice brand advertising campaign. With this campaign, we continue to see higher reach and engagement metrics on Dice, adding 45,000 new Dice members each month to our growing community of technologists. Now let's talk about clearance jobs. Our bookings for CJ increased 31% year over year in the first quarter, and our revenue renewal rate remained strong, coming in at 104%. All of this resulted in our CJ revenue for the quarter increasing 27% year over year. CJ also reached record new candidate registrations, record candidate profiles, record posted jobs, and record messages sent on the platform during the quarter. As with DICE, We also have two growth opportunities for CJ. The first is the government contractor market, where we currently have approximately 1,800 contractor clients, but know that there are thousands more that can use our services. CJ's second opportunity for expansion is selling its subscription offering directly to the multitude of US government agencies that are in need of highly qualified technologists and are competing against the private sector for these candidates. We continue to advance our relationships with both government contractors and U.S. government agencies, adding several new clients during the quarter, including the National Reconnaissance Office, Aerojet Rocketdyne, Honeywell, Iron Mountain, LexisNexis Special Services, and Spirit Aerosystems. CJ sales and marketing teams continue to execute on their growth plans to further penetrate these two market opportunities, as evidenced by their solid bookings growth during the quarter. CJ was successful in adding 50 net new clients in the first quarter. As we look ahead, we will continue to execute on our growth plan by increasing our investment in our proven sales and marketing engine as we look to capitalize on the growing market for tech professionals. We have large addressable markets for both Dice and CJ. And as I said before, we are just scratching the surface. You will see a constant increase in our sales team capacity this year as we take advantage of our opportunities for sustained double digit revenue growth. We will also continue to focus on creating the industry leading tools for matching employers with the highest quality tech professionals. A great example of this continued innovation is our recent release of time zone based candidate search. As over 35% of our job postings are now remote location allowed, this is a key feature our clients have requested, and we are the only career site that delivers this capability. To summarize, we believe that with our unique marketplace capabilities and tech focus, DHI Group can capitalize on the millions of new technologist jobs being created over the next several years by selling our subscription-based offering to the companies, government agencies, and staffing and recruiting firms that will be looking to fill these jobs. With that, let me turn the call over to Kevin, who will take you through our financials, and then we'll take any questions you may have. Kevin?