VIZIO Holding Corp.

Good afternoon, and welcome to Vizio's Q3 2022 earnings call. I'm Michael Marks, Director of Investor Relations. Joining me for today's discussion are William Wang, our founder and CEO, and Adam Townsend, our CFO. Also joining us for the Q&A portion of today's call is Michael Donald, our Chief Revenue and Strategic Work Officer. Please note that in addition to our earnings release and today's remarks, a slide presentation can be found on our Investor Relations website at investors.vizio.com. I'll refer you to the third slide in the presentation and remind you that certain statements made on this call, including certain statements about our expected fourth quarter results, upcoming product rollouts and functionality, and future customer demand for our products are forward-looking statements that involve risks and uncertainties. These risks and uncertainties that could cause actual results to differ materially from these forward-looking statements are discussed in more detail in our finalings with the SEC and our press release that was issued this afternoon. We undertake no obligation to revise any statements to reflect changes that occur after this call, except as required by law. During the call, we also refer to non-GAAP financial measures, including adjusted EBITDA. Reconciliations with the most comparable GAAP measures for non-GAAP financial information discussed on this call can be found in our earnings release on the investor section of our website. Note that all quarterly comparisons in today's remarks will be made on a year-over-year basis unless otherwise specified. Now, I will turn the call over to William.

Thank you, Michael. And hello, everyone. Thank you for joining us today. The important model for Vizio has always been growth meets discipline. Our third quarter results are continuing the reflection of this as we grew our platform plus net revenue by 49% and growth profit by 38%. And our total company adjusted EBITDA came in at $17 million, all of which surprised the high end of our guidance ranges. And even the most highly unpredictable market conditions will continue to maintain a strong and liquid balance sheet with no debt. Since our IPO in early 2021, I am proud that we have continued to successfully execute our dual business model and deliver consistent performance against our targets and goals. Our experience and discipline management team has a track record of successfully navigating through economic cycles in the past. Through the discipline investment we are making today in our people, our products, and our platform, we will be in a great position to reap the benefits as market conditions improve. A few weeks ago, we celebrated 20 years of delivering great products. at affordable prices.

We continue this tradition with the recent launch of a new collection of smart TVs and smartphones.