Dun & Bradstreet Holdings, Inc.

Good afternoon and welcome to the Dun & Bradstreet's first quarter 2022 conference call. As a reminder, today's call is being recorded and your participation implies consent to such recording. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. With that, I would like to turn the call over to Ed Yuen, Investor Relations at Dun & Bradstreet. You may proceed.

Thank you. Good afternoon, everyone, and thank you for joining us for Dun & Bradstreet's Financial Results Conference call for the first quarter of 2022. On the call today, we have Dun & Bradstreet's CEO, Anthony Jabbour, and CFO, Brian Hipscher. Before we begin, allow me to provide a disclaimer regarding forward-looking statements. This call, including the Q&A portion of the call, may include forward-looking statements related to the expected future results for our company and are therefore forward-looking statements. Our actual results may differ materially from our projections due to a number of risks and uncertainties. The risks and uncertainties that Fort Lauderdale Savings are subject to are described in our earnings release and other CCC filings. Today's remarks will also include references to non-GAAP financial measures. Additional information, including reconciliation between non-GAAP financial information to the GAAP financial information, is provided in the press release and supplemental slide presentation. This conference call will be available for replay via webcast through Dun & Bradstreet's Investor Relations website at investor.dnb.com. With that, I'll now turn the call over to Anthony.

Thanks, Ed. Good afternoon, everyone, and thank you for joining us for our call today. The first quarter of 2022 was another quarter of solid financial performance. Adjusted revenues for the total company grew 5.3%, or 6.9%, before the impact of foreign currency. And revenues on an organic, constant currency basis grew 4.5%. Balanced organic growth in both North America and international were driven by continued demand for our finance and risk solutions as broader business and macro conditions continue to create a strong demand environment. For example, third party and supply chain risk management continues to be a focus for companies throughout the world and our revenues in that sub-segment grew over 20% versus the prior year quarter. customers are increasingly looking to drive finance and risk underwriting decisions on both public and private entities in a more scalable, repeatable, and data-driven manner. Our end-to-end solution set, including fraud, financial diligence, regulatory compliance, ESG scoring, and cyber risk management, continues to differentiate itself from our competitors to the breadth, depth, and accuracy of our analytics. On the sales and marketing side, we understand our clients' biggest challenges include privacy, personalization, and proliferation. Through our master data management, digital marketing, and sales acceleration suite of solutions, we provide an integrated intelligence backbone for modern revenue-generating teams. At DMV, we continue to innovate with urgency across our use case continuum, and I'm very pleased with our performance this quarter. and how things are setting up for the remainder of 2022 and beyond. As we continue to execute against our strategy, our guiding principles remain the same. Innovate solutions and localize them throughout the world. Increase our wallet share with strategic clients through expanded data sets and complementary solutions. Approach and monetize the SMB channel in new and innovative ways. and continue to grow international in both our own and worldwide network markets. I'm pleased to report on the progress of some of our previously announced initiatives as well as new solutions we rolled out this quarter. Last quarter we discussed our strategic partnership with Google to further enhance our cloud strategy and also to innovate new solutions through a blend of our data assets, analytic capabilities, and customer bases. We discussed that our first initiative was to assist clients in better assessing and proactively managing their supply chains. Google Cloud Supply Chain Twin will combine our unique D&B data and analytics with critical alerts, collaborative event management, and AI-driven optimization to have end-to-end visibility of global supply chains. While this joint effort was launched earlier this year, we already have our first client testing the solution. Also with Google Cloud, we're exploring new ways to enable the small business community by providing the right products and services at the right stage of their journey. Businesses come to DMV and Google for many reasons during the setup stage of their operations. As we find different ways to connect with entities early on, we can leverage the power of the DUNS number and allow access to our growing suite of small business solutions ranging from tools to enhance credit inclusivity to prospect creation and activation. Currently, we're adding around 25,000 new small businesses into our data cloud each working day. This significantly enhances our ability to grow and expand our data cloud and the number of SMB companies in our growing sales pipeline. Apart from some of the joint innovation underway with Google, the new set of fraud solutions we introduced last quarter has quickly gone from proof of concept to full-scale rollout with significant client interest. In one example, we signed a new deal with a global B2B payments company who's experiencing heavy fraud instances resulting in significant financial losses. Their prior fraud solution was causing 85% false positives, which ultimately required manual review, leading to increased costs and slower turnarounds. Their newly appointed Chief Revenue Officer's first initiative was to decrease the fraud losses and false positives and chose EMB's Fraud Risk Insights API to achieve this. Fraud is a great example of how we're turning ideas into solutions and solutions into new sales. I look forward to continuing to update you on our progress around these initiatives and the many others we have in flight as we continue to innovate with urgency at D&P. Moving on to key sales wins in the first quarter, as I mentioned earlier in my prepared remarks, third-party and supply chain risk management continues to be a focus of companies throughout the world. In North America, we signed new business with an existing client. one of the largest online retailers in the world, to modernize their address verification processes. Previously, they spent millions of dollars annually to manually validate business addresses through less efficient legacy processes. By leveraging our data cloud, our client was able to automate the verifications and free up time and capital to continue to innovate and expand the rapidly growing enterprise. In our DB Europe market, we won new business with Volkswagen, who chose our risk and compliance API solution to better assess and monitor their vast supplier network. This multi-year deal will enable Volkswagen to standardize and automate their supplier risk assessments, helping to avoid supply chain disruption. We look forward to working with Volkswagen to help them better manage the risk in these uncertain times. Another win in Europe is a reflection of our ability to rapidly bring a new solution to market to help businesses navigate the rapidly changing environment due to the conflict in Ukraine. We signed a deal with a large European-based bank to provide them sanctionless screening and ultimate beneficial ownership of their supplier portfolio to ensure compliance with regulators and safeguard their brand and reputation on a global level. Turning to Asia, as a trusted partner to Alibaba, we've continuously grown our relationship with them. In addition to leveraging our data to verify worldwide buyers on their leading global e-commerce platform, they have extended their application to include sellers, know your customer processing on international buyers. Through D&B DataBlock's API solution, trusted data can be obtained in real-time, facilitating improved efficiency and effectiveness of transactions between sellers and buyers. With the recent rollout of our finance analytics platform in the Nordics, we are pleased to support a Swedish buy-now, pay-later company, and their goal is to enhance their underwriting processes. The underwriting relies on local-based financial scoring models, and where in the past, Format, content, and data quality were inconsistent between operative countries. D&P's finance solution will harmonize data for merchant onboarding and underwriting across multiple markets, creating a significant gains in efficiency and data consistency. On the sales and marketing side, we won competitive new business with Daimler Truck North America, who chose our master data management solutions to improve their customer and supplier master data structures, which will enhance their direct and aftermarket integration process. And finally, a longstanding visitor intelligence customer, DXC technology needed a one-stop shop for data aggregation, audience segmentation, and omni-channel activation enabled through RevUp ABX's always-on capability. We took business from a competitor due to our ability to deliver site-level insights within their largest commercial accounts rather than domain-level insights provided by competition. While winning with large customers continues to fuel our accelerated organic growth, I'm also very pleased with the continued progress we're seeing in the SMB strategies we have put in place. This quarter, we recorded strong net new subscriptions to our SMB platforms with our average daily signups reaching 2,000, up 36% from first quarter 2021. E-commerce sales increased almost 20% year over year and sales of our credit monitoring solution, which have been redesigned for the micro small business market, increased 24% year over year. With our latest foundational enhancements to our digital strategy, we're increasingly excited about the opportunity to capture a share of a massive and growing TAM. Overall, we are very pleased with the strong start to 2022 and I look forward to updating you on our progress in the coming quarters. With that, I'd now like to turn the call over to Brian to discuss our financial results for Q1 and the outlook for the remainder of 2022.