Dun & Bradstreet Holdings, Inc.

Good morning and welcome to Dun & Bradstreet's third 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 listen-only mode. A brief question and answer session will follow the formal presentation. At that time, if you have a question, please press the 1 followed by the 4 on your telephone. If anyone should require operator assistance during the conference, please press star 0 on your telephone keypad. With that, I would like to turn the call over to Sean Anthony. You may proceed.

Thank you. Good morning, everyone, and thank you for joining us for Dun & Bradstreet's Financial Results Conference Call for the third quarter of 2022. On the call today, we have Dun & Bradstreet 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 forward-looking statements are subject to are described in our earnings release and other SEC 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.dmb.com. With that, I'll now turn the call over to Anthony.

Thanks, Sean. Good morning, everyone, and thank you for joining us for our call today. I'll begin with an update on our third quarter results and then provide a general business overview, including some of the more strategic initiatives we have going on. Following my commentary, Brian will provide additional detail on the third quarter results and an update on the outlook for the remainder of the year. After that, we'll open up the call for questions. The third quarter was another strong quarter of financial and operational execution. Adjusted revenues for the total company grew 2.7% or 6.6% before the effects of foreign currency. On an organic constant currency basis, we grew 3.9% while also bringing adjusted EBITDA margin back up to 40%, driven by margin expansion within our organic results. As global macroeconomic conditions continue to deteriorate, I'm proud of our team's resiliency and ability to deliver results in this challenging environment. While many businesses are facing significant headwinds, we are impacted very little by these external factors, which has allowed us to show our defensible growth profile. With 51% of our revenues under multi-year contracts and 96% gross revenue retention rate, and 95% recurring revenues, we continue to build our business into a sustainable mid-single-digit growth engine with further upside from increased innovation, continued market expansion, and better leveraging pricing power. Organic constant currency growth for the total company remains balanced between our North American and international markets. Beginning with North America, the segment grew 4% overall and mid-single digits overall when adjusting for the impact of the GSA. Our finance and risk solutions continues to be the primary driver of growth as clients and prospects alike are focusing their efforts on leveraging the highest quality data and analytics during these times of heightened risk and uncertainty. Driven by strong double-digit growth in our Know Your Customer and Know Your Partner platforms, Along with the direct integrations of our third-party data and supply chain risk analytics, our risk business has grown strong double digits for its seventh consecutive quarter. On the finance side, we continue to see significant lift in our mid-size and large-size clients as they fortify themselves for the foreseeable future and continue to extend their multi-year contracts that include built-in pricing escalators. On the sales and marketing front, we grew 12% overall and 3% on an organic basis, with solutions like master data management growing high single digits and our digital marketing solutions growing low double digits. And while solutions we have invested in, like Hoover's, are now heading in the right direction, we continue to have a mix of legacy solutions and solutions that are in the process of being turned around that are still offsetting the significant progress we have made in the sales and marketing solution set. Overall, with 4% growth in our largest segment and 5% when excluding the impact of the GSA, I'm pleased with the continued momentum we are building upon in North America. Turning to our international markets, we had another consistent quarter of 4% organic growth on an organic constant currency basis. Similar to North America, finance and risk was a key driver as European and Asian businesses are in some ways even more exposed to the current geopolitical and financial conditions. And our clients and prospects in those markets are looking to tighten up their credit, compliance, and overall risk standards. With a global data set now covering over 500 million entities throughout the world, we give our clients an unparalleled view of current and future financial performance