Entravision Communications Corporation

Greetings everyone and welcome to the EntraVision third quarter 2023 earnings 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 and then one using a telephone keypad. To withdraw your questions, you may press star and two. As a reminder, today's conference call is being recorded. It is now my pleasure to introduce your host, Kimberly Orlando, Investor Relations. Thank you. You may begin.

Thank you, Operator. Good afternoon, everyone, and welcome to EntraVision's third quarter 2023 earnings conference call. Joining me today are Michael Christensen, Chief Executive Officer, Chris Young, Chief Financial Officer, and Jeffrey Lieberman, President and Chief Operating Officer. Before we begin, I must inform you that this conference call will contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ. Please refer to EnterVision's SEC filings for a list of risks and uncertainties that could impact actual results. This call is the property of EnterVision Communications Corporation. Any redistribution, retransmission, or rebroadcast of this call in any form without the express written consent of EntraVision Communications Corporation is strictly prohibited. Also, this call will include non-GAAP financial measures. The company has provided a reconciliation of these non-GAAP financial measures to their most comparable GAAP measures in today's press release. In addition, all pro forma figures noted throughout the prepared remarks include the contributions of various acquisitions to the prior year period. The press release is available on the company's website and was filed with the SEC on Form 8K. I will now turn the call over to Chris Young.

Thanks, Kim, and thank you all for joining us this afternoon. Jeff and I will cover our third quarter financial performance, and we will then turn it over to Mike to discuss Entrevision's key focus areas, and capital allocation priorities. Let's begin with an overview of our third quarter results. On a consolidated basis, we had a record quarter advertising revenue of $274.4 million, up 14% year-over-year, slightly below our previously disclosed pacings of plus 15%. Our digital segment revenue was $231.5 million for the quarter, up 23% year-over-year. The main drivers were our commercial partnerships business, with revenue of 19%, our mobile growth solutions business, which saw revenue increase 19%, and various acquisitions, which did not contribute to revenue in the full comparable period. Both our programmatic and digital audio businesses were up modestly year over year. On a pro forma basis, digital revenues improved 18% compared to the prior year period. During the quarter, digital operating cash flow was approximately 10.3 million with a margin of approximately 4.5%. Next, I'd like to highlight two new partnerships we recently executed to further diversify our digital operations with Match and Pinterest. In September, Entrevision was named the exclusive sales partner to Match Media, the group that powers ads for brands such as Tinder, OkCupid, and Match across Africa. Through our local team of experts on the ground in South Africa, we are able to more effectively assist customers to deploy their advertising investments more efficiently to drive sales growth. Subsequent to quarter end in October, we entered in an international sales partnership with Pinterest to offer advertisers outreach and campaign management in various countries where Pinterest has not been serving ads across Southeast Asia, Latin America, Africa, Europe, and the Middle East. We look forward to partnering with these marquee brands and continuing to grow our portfolio of digital solutions. I'll now turn the call over to Jeff to discuss our TV and audio business segments. Jeff?