DMS - Earnings call transcript Q3 2021 | Digital Media Solutions, Inc.

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Operator

Hello, and welcome to the Digital Media Solutions Third Quarter 2021 Earnings Call. My name is Lauren, and I will be coordinating your call today. [Operator instructions] I will now hand you over to your host, Thomas Bock, Executive Vice President, Corporate Strategy and Investor Relations to begin. Thomas, please go ahead.

Thomas Bock

Thank you for joining us to discuss DMS' financial results for the third quarter of 2021. call CFO. Marinucci, the and and on Srenivas, Vasundara me are Co-Founder Joe CEO; With our announcement website. posted also We earnings on release a our and press Investor Relations this morning in By should now, have everyone access.

Safe statements. release. differ I may begin, forward-looking cause factors of in call to forward-looking like Before materially Harbor content Harbor results provision our we for press would provision financial that to from Safe your the actual to attention results our The our risk statements identifies

measures For description including that about our and GAAP Coronavirus and information website financial website. detailed results this our our release our a affect the be results be press may management's during refer non-GAAP the posted Also, press Investor please call, can call the non-GAAP in factors measures. investors.digitalmediasolutions.com. which at more and found commentary risk Reconciliations discussed reported the The of filings. include Investor our financial on also Relations of found other our to between tables our to disclosure we to financial results, have results be outbreak, SEC of release, on this financial Relations for effects financial can additional will

call the CEO. turn to to like I'd Joe Marinucci, our over Now

Joseph Marinucci

Thank of XXXX you, Tom, DMS. has and welcome year growth double-digit everyone. for been a

in million. XX%, Crisp quarter adjust was led grew $XXX.X the which QX, revenue of revenue our both growth our segments record Performance with of growth and XX%. acquisition. segments; across ago results basis grew reported Marketplace adjusted XX%, across $XXX.X XX% insurance, for our if by vertical, year revenue largest strong during Specifically, which and Solutions, the Brand-Direct was you up primary a were by Solutions, XX% over million, record driven on QX

industry insurance of clients, health which to which a auto revenue. Within XX% a of During by sell Auto insurance growth headwinds the is carriers, of saw ratios insurance, followed loss revenue of our network robust we insurance now period, auto, represented with plus, result have XX% up many insurance of top rising as our continued was some closely we even growing. QX and the insurance, in makes auto we ZipQuote also we successfully Annual to launched Protect supported And about spoken agents in excited policies been within in have here we've through I'm health Period. the we Medicare insurance of since we've XX that XX QX, us programs both advertisers the Agency like Insurance independent Health QX, categories, Ignite the the diversification. insurance, that beginning say of previously. and under giving over in and writing Enrollment

result, a $XXX Outside consumer finance have TAM commission we career market. of together X% As now ecommerce, insurance year-over-year. component and to education, insurance, the of by the and access grew billion

and Initiative savings is the better there inside savings we annualized a During what implemented announced, prior XXXX I result we but we launched do the Technology of of focused an yearend ETI. is ETI third the initiative making million soon with in completed offer million XX. already beyond we'll announced currently mid-August, share. In as once cannot fully update to something review. so as $X.X September to quarter, as which This in ecosystem, Efficiency strategic efficiency expected to The on is and to decisions connectivity creates DMS growth. drive and future $X.X also annual or designed strategic is

health review enrollment insurance, As XX, which with November insurance, transaction will sort. us. the Enrollment XX of which plus into over QX, under any the Annual hired shareholders advise and a open maximize to conclude is best for no October started guarantee two quarter value the current Period for includes health Shifting X. the period Medicare that began XX we our for strategic the goal said, banks there to of reminder, That is

on indications We last from optimistic exceed this period. year, we advertising have has the which during are expectations entire good AEP us to that OEP that will and early up be track year's spend our period for

health trends $XXX to million our and adjusted million $XXX QX holiday $XX.X season, and result the insurance $XXX in a EBITDA. guidance to is across the shopping As million adjusted revenue to in of million million current million revenue, in $XXX $XX.X

in and Beyond expected data, are and to QX grow in and which in auto and opportunities insurance, efficiency growth of call forward pass will health insurance; technology Vasundara to continued our of expansion the and we financials. a to business, our XXXX; us which growth QX faster Protect period, while that, scrap allowing initiatives, cover start the the for toolsets media effects costs. redundant XXXX proprietary grow in our course, was will which further I the strongly and of With Agency see, reducing include, looking us to the by powered reach; to we growth Medicare over business, both technology of our streamline

Vasundara Srenivas

over and XXXX; at XX% moment the grew for in XX% a QX to auto total at quarter the quarter, approximately XX%, organic for you was up morning to made in I'll XX%. off million, X%. some acquisition. was color when Organic which Reported over $XXX.X total at last our record XX% with health Crisp good QX insurance, XX% of a and insurance, in Joe, approximately everyone. accounted third the of quarter same quarter, up Staying XX% year-over-year. and you, and the year adjust and revenues Thank XX% XX% of was start by the at revenue million, up XX% on inorganic Insurance, revenue home revenues. came with XXXX split healthy over revenue revenue $XXX.X X% our between grew adjusted life for followed

are XX% ago To period, better we into much than we see, year can you revenues. perspective, year. accounted last our As this were in insurance for of auto the diversified put

holiday the of the education, and of approximately positive X% which year-ago the brand to the we was in sectors, our compared combination on season. total revenues momentum revenues, other showing advertising XX% touching government good Career quarter, affecting represented demand. X%, was over The a e-commerce, declined QX, XX% programs customers' for X% total as year-over-year, year's spend. on dialing and total Just of had which approximately head of into with our our our demand and maintained has back as the macro finance, QX environment strength in spikes effect prior stronger advertising COVID XX% our while their us, quarter. shown insurers up revenues margins Consumer gross up

earnings same we was profit third QX Variable margin XX% XXXX year VMM, in was margin primarily, had XX% XX% solutions excluding level. compared million, and and quarter, software basis, On XX% to Solutions XX%, margin gross the ago. intra-company the XX% year margin, revenues, the from QX QX we XX% Other margin flat including overall was business margin marketing to QX last of SaaS Brand-Direct to ago. equating from to in last and in XXXX ago. a the QX a a and XX% our XXXX gross our and year compared was a the Marketplace XX% the range XX%, Solutions or For reported and within compared XX% in to our a XX%, QX year to call on margin discussed compared contributing quarter gross XX%, margin to gross gross XXXX segment a $XX achieved reported XX%

drive we as operating mentioned, in ongoing commitment we included way costs our which reduce the efficiencies infrastructure, in operations to have an execute and the DMS and Joe expenses, investment Voice. For support

will initiative organizational XX% savings will revenue costs. streamlining will continue in delivered advertiser third consumers $X.X better effect both given were clients also sold, of of will margin the and $X.X in The annualized been and which ETI QX that significant our focused to design across have streamline the reduce for will productivity The and as drive We be our our structure occurred fourth and with million of improve eliminating was cost cost of the negligible show during the The over plus OpEx. the added the better the on growth million is as capabilities, timing. has a decision-making the efficiencies create the experiences up basis, and systems quarter. OpEx result and ETI redundancy organization by to publisher operational reducing technology partners, annualized that an years. as efficiently in the the acquisitions, majority on approximately in we $X.X effects million, well goods completed completed however, On in by quarter, but cost improvements.

migrating truly scalable, note, network are just from to on-premises and performance, fully we one-time cost Important gives infrastructure example, control flexibility hybrid efficiencies. cost us a agile For not storage, hardware, and solution, a a these initiative. savings maximum redundancy, infrastructure and is to and to which cloud efficiencies of enable are a required cloud-based

for plans throughout with and business. resolve We the are to philosophy the embracing identify efficiency introspection and redundancies cost-savings continual

in up $X $X expenses decrease operating and Our third quarter, million million total million $XX year-over-year. a the amounted XXXX from to QX of

you acquisitions a in we XX, As of total a our recall, with the company have OpEx risen was second of and quarter public against may equivalents. we company several headcount a quarter and on We and as of became while stifled expenses, people, QX XXX ended areas first full-time our XXXX technology. public result July approximately recent processes investment and

in adjusted our last a to million the or a in compared $XX of was the profitability, $XX million on quarter EBITDA XX% Finally, of margin year. XX%, quarter or margin same

$X.X from $X.X or million $X.XX in margin a margin $X.XX, million in at same to compared of in came QX income at the a year. net XXXX. quarter X%, up or X% of EPS came last Our in

and flat reflecting from with capital. in sheet Lastly, $XX.X turning liquidity, balance quarter ended working the to cash, of securities, equivalents we the marketable this in normal million shifts end cash and QX,

$XXX was of debt $XXX it at was Our million. costs, net total million issuance and end quarter

full on issued the are to our credit achieve of comfortable quarter that guidance, $XX we track month, facility. updated available end, we're balance on Last revolving guidance. we that As us million and had to we

must us. like right there are want for very out company, every important including course, unknowns I now. that these we is quarter monitor, call seasonally a QX to Of

lot the upcoming we uncertain us. cautiously season on optimistic these the has QX of resources times behind enrollment is one on quarter of a COVID results. sides ago, health insurance holiday effect were our A have that XX shopping during also We open successful been since ongoing of business. which to of and ensure effort our all strength will October the The have worst spent a was that period, an

However, the again, to U.S. difficult are some spikes. trends the Though advertising we it emerged future whether to employees, our will affected Delta again with seeing clients have and variant predict beyond. we deal impacted improving our is and once

continued we variable and XX% for our marketing with our execution, gross people, in XX% technology investments remain mentioned of XX% and margin the with XXXX. continued previously comfortable to to of with margin full year processes, However, and range XX%

pivot to both adjusted reporting will revenue consistency, plan GAAP continue we As and we a remainder GAAP XXXX. for of year, reminder, provide to but revenue for for next to the and guidance guidance, for both

cash In first last unchanged in continue from summary, million We the any expect year $XXX is were million record $XX our month's QX. guidance a expect which, while reported absent $XXX to GAAP adjusted completed range to XXXX range to flow a revenue that quarter the conversion QX, revenue of full Our delever continue into of future year, half impact including to our of adjusted million guidance acquisitions. ability million free revenue of turn, $XX to million, we acquisitions $XXX to $XXX is EBITDA help to update. and we anticipate we the in during million a

interest We that fabric open about our With ask Operator, you questions. for thank become we AEP are efficiency initiatives the the listeners early what we for excited during our have periods lines will that, know our cost please our in believe part the now do to DMS savings and they of we will organization. and OEP your to and of let questions. and results

Operator

comes question please from from Michael, Canaccord. first Graham Our Michael instructions] [Operator proceed.

Michael Graham

you, a lot Thank thanks Hi. the and information. for

I ask Just questions, if wanted to two could.

period might normal you, how a sort of in is to of one to cycle the Like spend? levels last on marketing ask that boost which What sort take to of DMS to industry auto the prior carriers talked seems long taken margins. how one, launching about thinking this? compressed you you return just back it And margins then Voice, of through like the about The terms of and first cycles sort for are of just this long insurance has in space. good quarter second like I wanted

You in centers. mentioned COVID-related headwinds quarter some this call your

wanted to time? for ask how broadly So progress big about – there talk just channel this can and your you more over be

Joseph Marinucci

used Good the have know is to call. to Hey, you her Michael. Good today. We in Marinucci. have Joe you This are on Maria morning. on. I for

Michael Graham

We are multi-talcum.

Thank you. thanks. yes, So,

Michael Graham

Okay.

part KPIs KPIs here some stable bottom a as the agent that the are and compression what price and last question substantial. we enterprise and last. the that say model, of So, have I both we bid with our and might stability the we are we've working plus carriers believe are insurance been the And a get prices insurers, from is we we and long tracking how that agent have bottom first the for that seen the this, we the bid feedback we've the auto better of bid that guess, because on now, we insurance beyond with confidence at cycle and footprint, first I'd that at looking which at from is the now. that prices on the then months and we we have track couple

bid to, in in cycle to enterprise same is determined, that's but So, prices pretty to you'd to much start agents long is and have the look how the that competitors There that of ended, last, to compression, XXXX. speak But the up. XXXX, XXXX the from degree clients, has of a that's back cycle to come in people our optimism then will we be relatively going going back consensus firm kind other the space. opinion into

and reached back So, we I working think XXXX, way we're in the coming through. early our We've bottom up. start hopefully

solution is us had in generally, top served insurance during to to well our center critically health that's call to we Second and QX obviously where internal enrollment and deliver on us us Memphis specific helped was that of now bottom important open a the that lot DMS funnel question issue our The our Voice, staff of capabilities. right team period. it has we and side it look, an

which have type been So, static not we is played contact call center. spike did has that environment and great delta a to susceptible of has that country the been there, issues because with, the we COVID center more that the have obviously in

that most to that flexibility the agility So is are about the of media those home. and was specifically leveraging data agents technology larger is location. reach, that isolated totality at and DMS the technology, and But of Voice one specific voice,

the lot safety back center, So, outbreak, is it you protocols can sure but people have do is first which to our did an static about call appropriate. we itself got are not a have whole and if Delta getting platform we've solid, issue in out that make we them in taking that when our roll a we care of and

heading was So the need because I that would staff which the up with center, Memphis the was, acutely we say, specific problematic, into period. to call AEP issue

at we a of way number sure had was there worked that to our through do different that once we things make that were So we to capacity.

enrollment, So which to during we open running strategies. the could here we those on execute able hit ground were

Michael Graham

Thanks. Okay.

color. Joe. I the all Sounds good, appreciate

Joseph Marinucci

welcome. are You

Operator

the line go from Marvin ahead. Marvin, question please of BTIG. Our comes next Fong from

Marvin Fong

you taking morning. questions. Thank Good my for

a margin. on gross have I question thought Just

a in update for it's insurance should assume Protect thought just are on enrollment underwriting fully? then, quarter provide how additional Are an year when about kind in margins time growth? question, us begun if of might thinking Insurance be it'd then for more open on Agency. think on the And it's ramped I how Maybe us that's to give fair your a I be update they segments strength you mirroring kind next it how period. revenue other weaker, to going? Health sort could know little second that I on helpful are you helpful fourth color just basically and major of pricing also give but could you be And behaving? an the of auto

Joseph Marinucci

Good speaking. This is Marvin. morning. Joe Hey,

enrollment point and I the until right Agency cover think public-facing those made phone started the which were of where it up the much period, work so in have the first. was Protect the if period. I'll to place So, we up backwards the questions determined, agents pretty have that we announcement October. going And your through in licensing Medicare to be stood on during early the during open XXth Yes, QX October, to was

we quarter to all-out enrollment and our in in the And our to market phone. there. agents reach are indications say, place licensing sprint excited that pulled to to an say open are lay early performance And data, and on in said, the was I obviously during expectations, folks top-of-the-funnel seeing it And be infrastructure strong with place year got the this media DMS write is of the very hard really it this period, to very We get get foundation the have integrated, have it to that terms in the which on am team line vertically proud XX So positive in have across phone capabilities, policies the licensed and exciting us to and those indications was our I us. totality roughly ability the now we done. we technology, and because positive. really important for in for having really those early as the leveraging the

that goal it's fairly a market linear But enrollment we let's that have to we that. into at on is and this subsequent substantially And could year mean, headcount already on the phone formula, and model investment forward very year, than plan, happen. put So, is which And this platform. be in year we just trained we built confident infrastructure enrollment phone model drive with XXXX. agents during us agents, during we next look being year a a and call on is this we'll take that more execute how feel with headcount-driven, that have up have up adding for because is recruit, with make headcount, plan, can that it, can the is we the hired with, the ramp the a that would headcount-driven in open when that in infrastructure and period how that agents to, sets that to terms that in XX you the we having going growth and line qualified function I on of this we growth open agents licensed XXX it have next of have period the exponentially we've would this period what in add and headcount, our say, and trained, learnings

insurance. regard So With we're just to about and here, I margins think compression I'll want to probably as is very on that. generally there, bottom advertising market in budgets but just generally, not the excited the to We were sure contribute say well. deliver to But look, gross where in going it hit we we outlook, you the the had. we that bid Vasundara saw wanted to price that And quarter. stay was continue auto in on and the

we obviously through our level. So some hits margin which absorb then margin marketing internally, pulls variable of our gross to compression and did that

was of our the certainly you issue insurance the aware, inside for us revenue, an the that of majority So during category, XX%. are which, was period as

to margin. margin is did So saw variable a same insurance, Outside disproportionate compression we type and see that we of inside overall hit not there the of of insurance. gross there marketing

you any provide you color Marvin Vasundara, in generally on I'll if margins this. to flip business. want were it more stable So to the elsewhere to

Vasundara Srenivas

Marvin. Hi, Thanks. Joe. Sure,

as the right, reported talking all Slightly we year last to to of the the the spike our gross guidance for been auto COVID prior as FX infections. reasons again, about. was well quarter vertical XX%, like just the the and insurance I'd below that well margins XX% we've in say, about, firstly, think, I XX% range talked impact, within

us. touched Joe was area to more it just to We out mean, But the that right? we've if our Advertiser on think, with said hit insurance I manage it, We on kind specific services focus to the continue this continue got we efficiencies. hit. create I optimizing clients margin don't DMS I break to business spend goals, Voice. and of before,

our asset first-party rest gross grows. Our grows. overall the The business of and margin data grows

rest as the verticals, So portfolio, efficiencies the just again, said, the I of will would insurance. pretty But be, across stable. the across place in say I different mean, put we that it's we’ve not

forward with and comfortable XX% overall, going XX%. to VMM the So, to of XX% range XX%

Marvin Fong

great. I That's And great. do That's if could a follow-up.

guys publicly don't kind you to think know away. have the traded I in. want curious, just I But of too M&A, on give much Just come area, across valuations

of And what Just curious great. your interested? forward about would you you down? be assets on thoughts terms might And strategy might valuations Thanks. they going in just be seeing are any be coming for

Joseph Marinucci

again. Marvin, Hey, Joe it's back in

It fragmented now. You're market the of – correct. From It's a there well. say that space. is our hotter of space. interest, also is you sellers, lot side are relatively still lot have would a is there perspective in certainly a more but of I right a opportunities temperature on as

this. relates to we'll capital So, We it there. what's very We've continue as a been going to deploying it on navigate keep pulse out want specifically, comes human and to financial on obviously to our deliberate when M&A.

staff. We development our the in corporate have of QX we're dedicated period. midst But

You know is period. for the guidance the what

We have Protect stood open Medicare the period. Agency up organically. We the enrollment

right excited be the as cognizant team side. could blinders development still both of of But sellers side, your opportunities the a But and does about then from and certainly put organic there the specifically be not great year quantity that in on job the really out this as staying terms there are on strongly now, we'll and to on top is the we hotter prospects market that. of right of corporate finishing can. interest growth buyer now fact the and We question,

side. still So on higher valuations are the

I your think answer that's direct to the question.

Marvin Fong

Vasundara. you, Thank Joe. you, Thank color. great That's Gotcha.

Joseph Marinucci

Marvin. to Have morning. a great talking you, Good

Operator

comes from the Our please next ahead. of Craig-Hallum. Jason Kreyer go Jason, line from question

Jason Kreyer

some sell guys. changes. Medicare results the companies bit public choppy reported of Good segments Joe, a other morning, of the in little into cited have churn kind outlook and Hey. that and some Health regulatory of and

in Health you into further you're in and Just how relative How helping that you category? market? carriers? what others that are you're doing Medicare to exactly are curious differentiated Maybe the can if dive

Joseph Marinucci

Hey, Jason. you. Good speak Good morning. to to

we saw the ourselves Yes, look So, of as some when eHealth yesterday. the best-in-class we've why out connects other because I a have that eHealth, our top bit announcements like the strategic - companies some a that choppiness. like our is And view right, our first-party are talked you're came of inner speak SelectQuote, of is as which our GoHealth, technology, to part workings example. data, specifically are media business, that's of some There I with which marketing in can't quite to partner that at centralized of public data, you an us the And funnel, companies. technology, toolbox, we we proprietary like leveraging about, the we into which starts reach. which then

business. is marketing then, would ROI statistics at there to I because, to directly the ecosystem agency is are in over intent rates gives It a to other high stay down and And the to predictable marketing in spend right I front the And convert ability side, the time. and what simple. stability partner move us funnel, place, being in do ability where say, back and tell consistency there. we strategic of move relatively to acceptable is the would the as of ability is to on have as our that to tracks able put data you the really at we as So, right that right that offer, interact, consumers source conversion the right person, our this in that the you

good We confident have insurance are interact quality our to the purchase and very intent in capabilities consumers products. to health source senior that top-of-the-funnel

marketing our folks, now up best-in-class And So, low. usually results we're in in strategic these market agency. we're with to outcomes top and a good partner own down

what's regard seeing in fully With arms on as have our regard we have my early said, that. on with that can we going to ecosystem, earlier I what inside in those you about don't might ecosystems, have confident results very around other I the be very with we tell Marvin, agency our that. are So going But that indicators model. I very, to when speaking are here we positive to

Jason Kreyer

maybe little of just that back then, across kind was the a insurance. compression you bit carrier And just from marketing a couple then, the down on? enterprise perspective, I you kind broad-based wondering seeing break that much of all can and were across that am Or bouncing you working and seeing carriers ratios pretty agency? are from hit you budgets a if of Was to And large little of are auto Perfect. carriers? How a into further. there? combined

Joseph Marinucci

when don't consistent provide stability it's Obviously, pretty It's a marketing down. plan to their hard clients. how across ahead in, of the It's in the to of greater they terms this dollars. in degree starts spend moving agents where coming a it move enterprise But, you of continually see stuff in, fashion that.

So place it puts you it. in this where to you're reactive somewhat

you through the you am the adjustments we bottom to sometimes certain fourth of sometimes, could as then what just I came is, And Vasundara and where you affects those what in no business. is spend make at do serve the levels, at know ensure margin moved gross service quarter also margin this spending and to well. because is low then, monitor the you on try and clients to on, when maintain those spend in quarter margin, behind as was stuff which you with getting Marvin that keep they that we the that budgets don't when and we guess, I is, to third enterprise And, maintain into I subsequently, had at base, what we the level adjustments So telling in need have generally agent-customer to the this totality to see the maintain the cycle budget. advertising doing or potentially so,

had that There base pretty some was I which a the compression compression industry auto degree is was still at price model, no consistent have pretty why negative on the business that compression agent but the of grew on total, so. and on impact would you nearly a is good a agent Q-on-Q in the side, tell denying there demonstrably the in the the but across not the at we that enterprise-level basis, was enterprise-level us much. category, quarter-on-quarter stability as there basis, gives and price customers. So, we the insurance

Jason Kreyer

Got it.

the color. it. Appreciate for Thanks Okay.

Joseph Marinucci

a got good Jason. Have You it, morning.

Operator

next Our Nick Nick, instructions] proceed. question please Citi. [Operator comes line from the Jones of from

Nick Jones

of categories, Great. the little stock. strategic think I getting of items for I not without, holiday we guess is people the strategic forward. to of the the is pulled from taking chain review as spend an I of is a morning, know, sign the is review, we I at maybe work strategy? in or review? guess, words, comment any if e-commerce season, Thanks. being I through And impact as one, as Two, strategic a looking potentially the into some question, second being supply impact you in are acquisitions the you that Good the out other are due aggressive impacting don't M&A go challenges? there for kind looking kind then, planning more Thanks guess, questions. bit I on business, Joe. are on certain any holiday could? hearing

Joseph Marinucci

you with you. I'll And on morning, on the So, backwards that. Good call. I'll Nick. good work backwards to work have

we year about this the the we keeping But And lot hot this segment a the generally review, open we momentum enrollment the strategic Health public noise. side. very a and also but does we're down the we balance a to run the on lot but that and a period. right strategically to us have are we environment year. sure of the much plan have to And to to during of business ahead said the the the Crisp for little earlier of business regard as out create it's make company. open you aware did here And periods business. on as Very Marvin, of in interest for it's acquisition usual at enrollment need of run we buyer as opportunities, the an sellers the say of M&A make warmer that that as our tab side. Insurance fairly have made that background on are you a with on are heads Obviously, that with prices bit to excited busy of basically have So business we that I also would continue the now I there,

kind open down, M&A our on I the of acquisition So, to strategy. we the grid, we that speak, heads continuation executing companies so is on M&A organic side, the down the of we that that the are certainly during for our eyes track. of period say But as and result on are wouldn't we're closed strategy enrollment like keeping a but

comment in it's then, in the the press strategic there something until and is script, comment – in So, was No on. regards it to release. the to review,

that. continue we'll that. So just to Goldman move on working Canaccord with got good banks, really We've and forward Sachs two

there when obviously if So, an we'll update, is that market. and communicate the to

on we unknowns But which around that lot now finish to we period, good we'll the as that, it's that we'll generally any with been There issues unknown publicized. holiday through the given plays work to we with the how head are and the with the that the We There believe out. some season. the went year. with in e-commerce of guidance one. advertisers the very early and we've in COVID. market are exists to regards with provided, have question terms of in AEP close indications see that don't where shopping, shopping are holiday not It regard or country current On some that into still exists contemplates that have we we those the we of a types to is e-commerce, call the chain of see a uncertainty of degrees supply highly that issues the

would expected So $XXX that of revenue It The is, in the adjusted that's million believe the million $XXX adjusted adjusted guidance going to adjusted of totality revenue, there. account and are on and to million we performance because record we all us to EBITDA. that into in million early are takes we revenue seeing quarter indicators $XXX million I'll of $XXX GAAP EBITDA projections million, the $XX and $XXX to and be million $XX are excited good into revenue million. of just to million to those guidance factored $XX.X go that, then all the about revenue positive $XX.X get adjusted lead So, and really to another that right? million and variables the that QX of $XXX with

Nick Jones

you. Thank Great.

Joseph Marinucci

Nick. welcome, are You

Operator

today’s a of I for have and of And Thank rest end That your session. concludes Q&A joining lovely is the you the this call. you hope day.

You may now disconnect lines. your

Digital Media Solutions (DMSLQ) 11 Nov 212021 Q3 Earnings call transcript