SHCR - Earnings call 2 2021

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Operator

Good day, and welcome to the Sharecare Second Quarter 2021 Earnings Conference Call and Webcast. [Operator Instructions] Please note this event is being recorded. Leading today's call are Mr. Jeff Arnold, Chairman and CEO; and Mr.

Justin Ferrero, President and Chief Financial Officer.

harbor would this remind statements of call meaning the we statements that within XXXX. begin, Private of during the made will safe we like Reform you to certain the Securities Before Litigation of Act provision be forward-looking current information These our currently us. subject available and are our on statements various risks to based forward-looking uncertainties beliefs, and to reflect expectations assumptions and

filed we occur undertake to Although this from with no SEC XXXX. X, discussed to differ we the are in are on believe some statement section that these revise that forward-looking the filings actual of including reflect combination our Descriptions Factors Risk reasonable, in changes of with factors could after materially SEC, prospectus expectations these of June call. any more these statements results the obligation detail of cause to business our

discussing we of performance. in on In website. will the release company financial addition, financial press be measures reconciliation non-GAAP GAAP the in most can be evaluating measures posted non-GAAP non-GAAP the note that important to comparable that the measures that please Details is between these are and certain historical company's measures relationship on found the believe

conference now Please speaker, go would over ahead, to I hand Mr. like the sir. your to Jeff Arnold.

Jeffrey Arnold

you joining company. thank earnings public us for a and call Welcome, for our as first

performance on many acquisition getting President our to a Ferrero, our the of over we Sharecare overview Financial you meeting new this who Chief those Justin past the quarter of But morning. into I'll are our is announced and few Officer. today before provide second me of you for Joining quick and pleasure the story, had months. We've

implement most lowers in easy overall engage And which the their well-being, and digital make buy, with their customer diverse the offers cost. health it market. base populations their improve platform to comprehensive to Sharecare for our we health care

broadly efficiently to the user-friendly We've on of delivering focused and ahead clients enabling wellness high-level employers, million, of and plans, their services deploying building and large EBITDA take platform data consumer you employees for in experience, $XX.X through interoperability to results, quarter is highlights revenue profitable, I our financial manage and revenue health and is adjusted on of successful But year-over-year the operate and which solutions, our a our solution our growth. members. in XX% provider delivered a scale of health Our financial been across second continue delivered is detail. We that discuss there, guidance. each. channels: greater innovate. We life and Justin to get segments: enterprise, I'll quarter diversified sciences customer second which the we a and health before in government, performance in million, end review high-tech consumer, X quarterly and and business systems, We was want which also strong our to I $X.X of of range, with provide will the guidance high representing was multiple

business recent growth, acquisition integrating to our cash artificial solution opportunities. our in the set. doc.ai intelligence and and growth profitable to innovation which organic this new million with bring $XXX raised enables technology life, combination We from of entire are across the from our already are to us February products we committed invest To of

care bring channel, These our our employees into digital service equates help platform to benefits services approach public utilize a care, to XX their a more XX% about scale to enterprise members platform, caregivers and of direct enabling well-being. revenue. than acquisition the tech-enabled the and total take to digital network Generali to last mile of and our their large XXX,XXX dozens CareLinx announced health X of million sector their health comprehensive we plans, example, and representing organizations which home. In nearly of Another of from large lives, will today holistic our several employers the health efficiently clients, Sharecare manage

Our journey assess their health measurably from their management. data-driven well-being lower individualized platform focused on to to each risk and deliver and and to person is a going episodic everyday improve designed

ranks therapeutics In real integrating effort benefits second flagship platform the expanded several architecture launched to of to quality Medicaid and addition a State technology including with plans, We population. prediabetes, with members of to and landing AI-distributed integrated and tobacco new of into child-bearing access Health into to XX turn enterprise navigation, time, XX cost actionable improve U.S. products. also the key in in offer relationship number new lower of addition insights. In to we on maternal clients. their and Humana's rates our their along dynamic to Medicare as Plan are focus quarter, In and line loss, Peach cessation, member-specific specific Advantage diabetes, we with other which the State anxiety, clients an conditions, the the siloed health Centene data business such care our we partnered out Sharecare of digital in and MSK Centene's CarePlus for mortality weight government-sponsored pregnancy, Georgia, improve in

estimated Georgia's and to several which customers, an new and added Additionally, represents Health new Health Medicare we as business Martin opportunity successfully winning current as Nordstrom, Plan. We Net's State California such Benefit we for line of RFPs won XXX,XXX Lockheed clients such members. and employer renewed Oregon, competitive large both believe

to several We entire health clients contracts populations. digital eligible therapeutics current also expanded their plan to with offer

our significant second quarter, million investment as over view increase this opportunity. Also We continue a penetration few we $XX and in the Anthem in our total increased closed we to engagement years therapeutics expand market base capabilities very leverage see driver our to our doc.ai valuable across co-develop beyond. the next from technology digital our solution which deployed next-generation AI-driven to growth This enterprise platform, solution and we clients. expect be to further customer enhance with advocacy multi-payer will and to a to bring our the acquired combined to market as digital

this potential discuss and offering its months. detail more strategically over will coming important the impact in We

As part several of offering, health on security. we focused our enterprise have initiatives

helping returning XXXX and of organizations working to the streamline agencies to us our workplace, and to vaccinations new uncertainty creatively we safely continued sector opportunities the clients return to our providing biometric our and their manage and the health distribution private of related extension adherence. This and work security vaccination, hospital additional solution flu of Also help thousands place agencies we systems. government new in pandemic, customers, government to are home. With into launched screenings with the expand including with of and business generated enable public

client added partnering platform, vaccine. a in with on to customer to of plan an for Ohio reward as the drive the we and As CareSource an example, receiving our members track CareSource another State health immunization

also with of working We digital Arizona, the and on Michigan recent Colorado vaccine contract are State awards.

and solutions provider added patient Our patient for OrthoCarolina. payment retrieval, medical plans, QX, Connecticut Orthopaedics and systems new Arizona approximately engagement monitoring, includes Oncology, logos, channel, hospital record integrity, value-based which practices, health X,XXX we including and physician services remote In care.

expansive this base, approach. Given also client channel's we take land-and-expand a

record recently value-based example, Florida For retrievable clients medical offering. existing Orthopaedic of Associates, services, Capital care bought our and Ortho our

employees. significant a our to sell opportunity see their system also solution for customers health We our enterprise to

deliver the currently relationship on one X truly place, and doctor-patient we critical, all is health supporting over our million To your vision serve in of physicians.

their foster providers person goal prescribe data share they continuous Sharecare support connectivity, their can and through to so their from Our patients meaning a platform. turn, ultimate plans in can Sharecare-enable and with to health their doctor receive to is all automated care provider our

communities. their care employees, systems XX,XXX allows in support largest also and value-based health and to we working Wellstar population is consumer a Wellstar, delivery, partnership accelerate one a with to model and and end, patients world in This a our to recently care started not the health which reimagine optimize, the of that collaborating To solution care transformation out care us better health only and Sharecare develop expand to engagement experience. with their rolled enterprise Georgia, personalized but

targeted, engage behalf QX, address with companies of $XXX direct e-mail very life a conditions. to had messaging campaigns about The employer our members Sharecare and consumer capability platform deliver performance channels. pharma against targeting as consumer channel it for of strong clients and efficiently database. results and and a its traditional channel our variety differentiator Sharecare's people their treatments and implement in focuses goals ability growth reflective we significant that diseases power our a of on plan Finally, health audience-specific outside solutions strategic solid on help of solutions and of brand could is million to to educate is to sciences use the first-party This leveraging

for platform. XX content earned awards of another differentiator Sharecare platforms X.X followers, Additionally, social over and engaging expansive of the Sharecare million our

immersive 'XX the product which with from sciences, and Smart The Community Well-Being content research team from expanding of into the Sharecare's started medical selling doc.ai new targeting space Index. commercializing the ahead, health XXXX channel acquisition, Looking is advanced [ and has client determinants featuring its OMX clinical device also channel's -- leverage customers. life the of footprint consumer of CRO ], consumer solutions new capabilities suite social insights and solutions experiences a

Moving our digital have multiple expanding forward, signing across solutions to current new avenues new all our products customers, and health channels, launching drive we like therapeutics cross-selling offerings value-based our to care and additional security. clients, growth, including

We further capabilities through strategic growth enhance acquisitions. we'll Sharecare are to organically, and committed

multichannel continuum CareLinx and on-demand a solutions real-time of the personal changes providers our Generali. to analytics at shift and home-based care, Payers and COVID families home acquisition to to And macro and nationwide need care provider to positioned further serve from of is a clinical from platform care strategy health and care pleased in teams. remote care. with the population to patients' delivers telehealth to while announce provide home-based home to clinical personal services. capture, care adoption care with data is cost scalable has total rich services driving of that, facilitating needs the manage care entire I'm solutions of home home. the patients accelerated the across are and coordination CareLinx Regulatory care and care that tech-enabled CareLinx

care and network of bring care. for our solution, mile platform CareLinx over Through caregivers, strengthening will by digital XXX,XXX helping of monitoring, includes in-home clients. Sharecare's digital the health human last Their digital portal a touch plans population its tech-enabled manage customers to enterprise platform

in access an exclusive impressive health users enroll and over CareLinx VA all continue we to their believe CareLinx X Medicare platform the families is well to have million offer X Advantage Sharecare the offering and the and members partnership for and and very members, systematically into through trajectory. shown health caregivers. With members Sharecare States, app that date, plan. the has growth CareLinx plans our United positioned to organic largest with integrated AARP to of ultimately a CareLinx will We

for looking this all CareLinx already of we've sold In X have be solution. and fact, a type channels, actively can our of number into of customers

will Additionally, further and be $XXX our can billion component capability this home over we if We by expand our advocacy in than into believe $X this acquisition billion more solution. expand multi-payer care a unique TAM health. home for potentially

And to now more quarter detailed over of financial I'll performance. Justin for second turn our a it review

Justin?

Justin Ferrero

the for Thanks, call the thanks to your on interest Jeff, and everyone in story. Sharecare

Jeff with respect to indicated, quarter revenue in As guidance in of end coming exceeding top our with adjusted the performance EBITDA. strong delivered guidance range the and we at our

gain to adjusted future to delivering momentum sequential positive growth. revenue business, continue continuing growth to in while invest EBITDA We strong heavily and the support

a hires poised our force. management several public made key to talented as have company, significantly time brief are our our already already we add and bolster sales to team to In

a business our July on to our recent July more combination and invest and public cash raised know, from X, trading we to as of opportunities you million and of with business further on a our NASDAQ Falcon strong began Corp, combination, on than Capital completed With company. profitability. $XXX many X, position accelerate in Acquisition new in we're growth As support

year. ago completed as revenue by guidance and growth gain additional additional platform. to solutions driven quarter, to million revenue approximately included XX% client of XX% establish rollout million for last total quarter long-term by new On penetration, an from leverage of expanded grew compared from new foundation financial doc.ai initiatives. the organic was increased of Sharecare for acquisition product support basis, year $X digital Digging into the well a $XX.X second client we was investments earlier EBITDA the grew $X.X the our million, this from security the Adjusted million our wins and sales quarter we $XX.X and approximately a performance growth total to previous as operating like which products improve solid as the ahead our innovation These investments and health year.

We've team to million from the a $XX growing value CareLinx will now roughly in million comprised also $XX to the in We management. earn-out to for for believe approximately XXXX. XX% in in CareLinx acquisition full an million for The XXXX XXXX stock an revenue is incremental $XX $XX cash through million to be and $X.X our of year. in organic management the is acquisition accretive growth. I'll million shareholders. remaining achieve our of guidance arranged annual CareLinx and third turn for performance-based quarter minimum expected

is from guidance negative includes Looking revenue is $X a million, million, million an for adjusted $XXX of includes $X $X million QX impact forward, XX. The which our contribution which CareLinx for QX approximately $X the to to million from be million EBITDA acquisition as August guidance expected to CareLinx. $XXX approximate

million $X $XXX approximately $XX million guidance million impact the $X to adjusted to outlook. $XXX reflect that million, year will impact the acquired our we updating million $X have CareLinx includes million acquisition: business the an which of the in approximately our revenue from to provided million, CareLinx of For highly business; remain With full our are includes short-term expectation full EBITDA which approximately of to newly previously to EBITDA XXXX, of million year our we booked, business outlook. XX% CareLinx confident $X negative the $XX to a adjusted

we for quarter cadence to the the about of few into a factors year, play think want you expect the reiterate be I remainder why As largest the quarter our that fourth year. the of to

consumer increase sciences their seasonality, will and generates its life end year. our sequential of we result revenue client various stated before channel, in channel, in Also, than we more in of clients in companies the spend communications, previous continue provider and the ramp. existing year-to-date as momentum to the based the solutions quarter a of as the see enterprise on XX% the quarter revenue growth as new both As typically fourth initiatives wins with

it Jeff for hand back some remarks. to Now I'll closing

Jeffrey Arnold

Justin. Thanks,

throughout As of you our expect momentum can tell, half continue had quarter and very to year. the a we exciting second back the

We our opportunities the of possible we and work strong dedicated to to existing of business cash at innovate ahead be runway grow. None of clients, without have would we in team. and Sharecare the us new do terms cross-selling and on hand continue have

hard So I lives. they people, journey, want help to to their thank everyone where no health live for in are work their matter best their

your thank to Sharecare. continued the in on today everybody Again, call I interest for want

to open us. an up look exciting We have I of on any questions. you runway our ahead for the we'll progress. With continuing forward call that, to update Operator?

Operator

Richard our And Instructions] with coming question [Operator first from the Canaccord. of Close line

Richard Close

Congratulations a as pipeline on noted just into completing Centene. could you Centene, and first progress report of I opportunities if wondering the payers some transaction Obviously, questions. a essentially go you Anthem. public with of with company. couple was like you like that the had made the I

there us give feel pipeline. of just little competitive and the could you If a bit dynamics of the

Jeffrey Arnold

question. the very continuing Thanks that Sure. is have. clients we on Jeff. Richard, the grow for to this We're focused

several Blues large many have we plans, know, clients, in you as So particular, Anthem.

XX member today members, think have investment are have about opportunity just penetrated members through it We stacked solution, And that XXXX a and in we has then has this in made the out Anthem clients about we with in think know, they that XX for April, fully building XX multi-payer million and -- about large to probably expect X you have million that account. XXXX. which scale market we against As people been that in us. Sharecare advocacy by I million with be

Anthem. that's So

lucky started and them helping us to as product from has off quarter, needs. for California in were On we And meet We their as tailor in know, win Oregon to us of Centene's I enough and RFP been Centene with Pam joined our our the population. you this in which last is, XXX,XXX members, who's COO, largest Georgia. really their Shipley, believe, front, Centene our account first their

big Centene. just care XXX,XXX-person so in start won a for managed to a similar them. and and payer nice we us house side that the in won of great new We off Ohio, to And a CareSource, the we're which with just Georgia, did account. We is launch

of Blue won Maryland, Arizona, some as Shield Minnesota, Highmark and Blue Cross Blue Pennsylvania Blue As Cross Blue Cross Blue Cross of which Shield and we with others. of of Blue Shield joins now well Blue of Shield Shield Cross Idaho, Blue Anthem Blue

and on Anthems the of doing and And large so we're land really really we're accounts, focused the that we're those onboarded world. with the with with ones and great us. already expand to been And Centenes have continuing

Justin Ferrero

just those one not upselling therapeutics as well. I'd through, only into item also took you customers our is add have with expanding, a there Richard, that And of but those model maybe, as two-pronged we plans other digital Jeff really

significant base, with but upside to there's base, expand services. also the additional not with user So only the member

Richard Close

Okay. launching, appreciate helpful. to Curious terms business better that? some on type feel win or type respect Anthem if That's So lines what Anthem when that payer the that revenue just in essentially new we say, new converting to Centene. of your cases, like launching? and time comments covering are launch, in let's navigation Centene, "booking" does ultimately advocacy a a with in I -- you with for as an just won And have a so if business, with other we you And companies, companies.

Jeffrey Arnold

Yes.

or launches like October, our about is our first about on So with typically, our being in is the What's horse. April, of Trojan of our think digital most business are the the year, core July Sharecare great QX. platform majority

turning like for we do then a turn time can our therapeutics, advocacy. can are throughout any digital like we accounts all it's WiFi, the And is all so platform turn which on year, on little And on at we Sharecare core buying just those their members.

can core deployed super to in we days of base. membership selling focused our Usually, need get about we the platform XX because And that that's entire to XX we're digital so implementation. always why

up their what the based So us background And can this not to actually way then and to eligible stand turn off start the it's we've services from that members. on the platform, have the in product. long rolling and we it for bought out on payers they or architected who's the

Richard Close

that That's But customer helpful. channel? sold? -- I you Congratulations then sell be on final understand into the prepared on and How question a are the my didn't CareLinx is that? do thinking you existing remarks. And that base? that. Or that that driving would is Okay. different is about acquisition. Or how in your Maybe

Jeffrey Arnold

we're as client, complementary Yes. it excited seeing new Well, we're some which about.

a big work X complementary they do set. So with lot of our be to that payers would payer

so introduction hoping great CareLinx, we're And will happy that, of with to they it because how Sharecare. a be are

So Founder, exploding clients, mean, been we've And organic from now. said we've who's with this standpoint just really worked I the think and started growth noted has And and the us. with Justin that's call But years the to who's known great. Sherwin, as for on I introducing right have they're company Sherwin one. I well, as an and X reception our

in those already penetrate able be believe clients with clients going to market successfully to that Sherwin services. to we're with we're talking and So these new

Richard Close

margin on if business Okay. a That's here drag Justin, EBITDA. is maybe And profile like this But what Obviously, is mature, helpful. adjusted on financial profile. then it's of CareLinx? the the initially

Justin Ferrero

on model that very now from basis. this XX% a EBITDA on XXs margin. XX% so long-term a sell we're low PMPM enterprise a their our in business XXXX yes, gross of we're clients they the taken into -- starting contributor similar kind And by could as and on that the Sherwin be expect to expanding model the has XX% ]. in built But that we've [ margins this is we So see of north

Operator

coming Larsen question from David line of next with BTIG. our the And

David Larsen

detail of a very, here XXXX, Can quarter you please good Jeff, give Anthem. just a what now. you there's road bit from had opportunity, map in your X Anthem on So you XXXX relationship? about a up sounds exactly clients like little with life a for here. talk very million on more in million and Can mentioned that It with in scaled sort means? will then be that Congratulations you market fully clear maybe XX growth

Jeffrey Arnold

Yes. product a in they is Anthem XXX% maybe saw be XX% what advocacy. XX% else able when that have And are Yes, which account, around my -- an in members, pleasure. let's on to they're No, need a large say, so or have offer mix. means they and so national Anthem their capabilities employer of don't to other some the somebody multi-payer

as And and that members. so third Anthem needed neutral they that plan's a party both for could act that advocate health other members

they with this doc.ai have a where hard one going things: and that our at lives, go-to-market, building by XXXX. could And the been buying and million we've XXXX are teams really that in handful team; of do working high-profile coming actually a because those since identify why so clients become Anthem's picking AI work are in product best on scaled Sharecare. And product, was we're a references is that of and they reason XX invested strategic building how they history forward. on trying the the investment, cycle leaning X tech fully get is and where where to out we Anthem's And for

so made and go-to while market. with some the to exciting management And of the full of out kind account those rollout And the as next reps folks happen and well year expect of that conversations we've sales we're hires this. and in many building manage of middle to recently we're

David Larsen

Okay.

been digital like talking sounds earnings about it Sharecare Anthem's a core is on So they've strategy calls. part health that longer-term their of

Jeffrey Arnold

Yes.

to digital And got so great and their is know, runs role play understand we're off roll I to Rajeev, working a great talk that multiple their Board capabilities. on I -- think we've a relationship, a can week to continuing digital start. you what's helping times Anthem the out in And transformation, Sharecare's Directors, Sharecare as him of Ronanki, runs who who of and and

David Larsen

the just that PMPM And what right. remind can you rates get level, your just up over All like could plans? to? are for then at Okay. And time, us, where existing a now high

Justin Ferrero

customer. is we've about, the really talked size I'll as start. this Well, the Dave, on of Justin. depends, It Okay.

PMPM our So data, in with depending the the when even little PMPM. plans, it with when it's often of $X health we're think in size could to $X on we I dealing a $X work self-insured the But large to maybe the range, be plan; you less employers, bit the know the often front adjusting risk those population is We claims end: the therapeutics, et of a for them stratifying and model our PMPM. providing number a into identify is more incentives much then and management, then members significant drive digital which that's cetera.

about $XXX So being DPP our year. we've talked solution an product per

but holding program, the So advocacy [ ] our been now on let steady about excited Jeff really -- I'll that. PMPMs. But that's we're introducing and touch

Jeffrey Arnold

platform. Well, job. our a Justin We sell did digital think yes, great core I

therapeutics. up services that offer robust have We into ] advocacy able $X right solutions concierge to custom going of relationship And to what's that's services some management because of a adding our have on our additional advocacy to be we think products our $XX even model. and what's offer more what on digital we see that with range we're the working [ our we an our PEPM Anthem. in And that the now to uniquely of go-to-market care we're

David Larsen

Great. Okay.

from potential, PMPM increase provide is or to $X $X the only can incremental yes, that $X up number obviously, could substantially rate the members that services or also $XX of to or even not there, life you So higher. like your

little channels there, CareLinx mind? home towards is talk including If lower-cost don't you CareLinx? whole you Like obviously, more that you expand if a do, of care, would can about What these helpful. moving great. health. Very exactly And bit be could the does Okay. market then

Jeffrey Arnold

Because yourself you to answer group? question, if and you [indiscernible] don't Sure. Sherwin, anyway mind. quickly introduce the why don't want you I don't that

Sherwin Sheik

Really appreciate be be part to to I the excited that. and the excited Sharecare is family. team here entire Yes. of

country. an So XXX,XXX teams to as of a CareLinx is be working the about we're the plans providers. tech-enabled what is doing extension of thinking aggregated largest primarily we've clinical And several in best really with remote health way network serving

their where is daily management the which paying care grooming, to members up member, needs So the going they're they're real PMPM life getting having a living, programs into a supplemental the med open transportation, on of door. bathing, help with the us benefits, meals, reminders, the basis, to members of home activities

in those home, that gaps those gaps gaps Then close now can we're of in care. care home, the of we and and while true labor identifying have of care we're we the their physical then identify

While care. data eventually on also we're behalf over keep utilization care remote points which just patients we're the coordination with avoiding managers of of teams care with continue real-time then acute at those and XXX the clinical home care to unnecessary lowest-cost setting capturing there, to is post-acute

because as So think With about us now our bedside you eyes, digital the it's in moving need arms not being support world home. to home, care That's to go telehealth. and what into ears patient. members the and that clinician of really health extension physical CareLinx enterprise the that's with continues really embracing doing That's an providing health is continues evolve as still you and the as hospital, the health care. nurse. It's that the clients the

David Larsen

Okay.

need? hospital like the prevent admissions. vendors? of Do service you're where home, It's So think, somebody you market they like can telehealth fill I care, work basically high-cost like sounds So sort you last at it you're those you if that moving. in need home, of with their some has exactly, a telehealth is visit that mile and

Sherwin Sheik

which health a members have engage to been large who majority with functional care members, in have comorbidities, of working like their management -- with the limitations. to really those multiple plans teams highest-cost trying with that's We telehealth, at have do enterprise the there. out RPM doctor-on-demand struggling through But partnership time, with we're like engage

those them. engage helping going the And teams there and so clinical horse, how needs acting through then life a of while real that we're Trojan in using extension an to us as is telehealth what members struggled their truly and

David Larsen

were talk hospital into. had And can on there? then, additional X,XXX little good about Anthem. the Jeff Okay. the and and you Health there and side, a I you any Great. Humana or provider side to bit potential maybe -- progress of the that Obviously, think about of sell care the How Centene with Justin, sites Net business? momentum

Justin Ferrero

and Jeff can a fill. QX, We fantastic Okay. new of I'll start customers. had dozens added

of has an organically continues level. at So to business kind core grow is that impressive --

We are the as value-based now that XX onboarded be uptick will in land we in and integrity past of those making days significant business QX, on customers into of traction of payment lines QX. the big care in expect business the side here go we and a and

provider real the So performance happy of team. the with

Jeffrey Arnold

talked the to in starting Yes. see medical I'd happened. also plans bought our X have have of you that services. tell past, know retrieval we're great but I biggest we about both some now our we've health have record cross-selling, who which

seeing -- over we're side. X,XXX those opportunity we as to in clients is And past, see -- mentioned So great employers enterprise have into the turn cross-sells. our actually on members X,XXX we've great a we

Emory, where us And so employees are enterprise for is their win for example, coming a XX,XXX on clients. recent as

David Larsen

just drag Okay. X that was X quick Great. bit or more me. of a then for a COVID XXXX. And ones in I know

up? and was COVID revenue an thoughts 'XX. on at the in had quarter about visits impact drag Any offices picking in think dock X% back COVID actually comp forward? and mind, there hospitals I what of thoughts Do going tailwind quarter? in have there, into you any X% should And turn an the impact my become that the easier a drag in or

Jeffrey Arnold

especially talked we customers of COVID those customers Yes. there definitely other and was haven't on drag lost some in-house services We as provider -- in and Dave, of brought that -- it the about, look brought yet. to it, come back a we've XXXX, don't they the due at side

I of -- feel I somewhat So see we wash. as sit here a QX, don't today it's like

organic we when you XX% did Like acquisition. the XX% include truly and growth

of think come ultimately it's think those we expect -- that a customers and a tailwind. I quarter-over-quarter, true see and forward, you're tailwind some forward. I correct that Going growth But move it XX% be back, we XX% will to as will

David Larsen

Okay. the me. just one And for then last

spend and on ad consumer life be any the sciences your the for the the quarter side, side? might Sciences digital expectations making on just color for there on that progress Life On side and fourth you

Justin Ferrero

Yes.

is division consumer Our doing great.

social and going our feel but winning great. -- always quarter, mentioned, I like are content, QX they We are are doctors producing cookies and amazing as our we go And and to is first-party have to XXX a to and As big start it's revenue, going to and deal digital biggest back stuff they to. the quality people feel people million market other away, where that the we only growing and database marketing not be up awards, driving a spends play.

where to be advertising data big away, with million we going over you're first-party see tailwind this going that's for going as to think for Sharecare XXX have people. changes a like I a that's deal us. big all And is cookies So

David Larsen

a expectations Great. bit there Okay. talk force, last and your color there's on about and then me. in pressure little any into just making head you the little year? as for one the Can we the sales of you're a And EBITDA? Justin, bit, investments next Just

Justin Ferrero

executing force. are definitely. cetera, and et say Yes, They product sales one, would number first, as process we on -- Analyst our out the our tech. Day, And just relative laid we pressure I and that growing through pipe have the to

And made in a new of force. to so that hires bolster QX sales number we've

is XXX the to sales year over sales and in new that tracking our know, target -- we're you alone. X this next XX As years,

additional we'd the gave XXX We've also tech that on guidance an been side. product heavily. hire investing We and

QX see growth that QX product in our year. and You'll of tech from over last

to see that to underway. because EBITDA going is our of really last to to drive we continue all our we're our that it well pressure drive said are an investments really and And we profitability growth on year comparing So anomaly. don't

million, Our loan. to took the employees, all investments. of $X.X guidance with for $X.X When And take not million, year million and -- quarter as this $X.X it we we decided exceeded pay year staff. we that you compare was those team, instead, to back furloughed we cuts. PPP last was all management this for a for We, cut

PPP significantly loan. believe those we we X% have we EBITDA year, I of taking the to when compared higher one the closer would to because had all so last that, -- X.X% taken didn't to have X% that target than X.X% to not this And it year-over-year would take were been is cuts. been steps

So for it's us. actually an EBITDA growth

David Larsen

of you're expect would EBITDA momentum. still XX% goal term, the That's and the on like I longer longer of earnings And focused about Okay. sort term? margin. also still you a one that story, Is growth your things

Justin Ferrero

Absolutely. Yes.

Operator

a have we And Richard follow-up question with Close Canaccord. from

Richard Close

a the how that more wondering terms gets a the I that little blended over what you into the could talk bit was for it we into overall should But doc.ai. if -- of you be I we talk little about platform? can about of next couple integration Jeff, overall how know highlighted in you looking platform, quarters mentioned Yes, bit. where and about do thinking you're of stand

Jeffrey Arnold

Sure. Yes.

areas contract over that kind on So with And there's on, is we large because area focus we Anthem. right, with first doc.ai. of currently the basically a Anthem have X delivering

we XXX we're them And looks passport of smart employers AI which have Omix, property call platform. developing now is that which care, all around a Tonic, our I platform adopted. so with research cost developed at modules, this intellectual back-to-work believe We've

saw I think recent. the I Bloomberg was most

as property a we're have this intellectual host products advocacy as team as of backbone that Anthem we the using services, so is as the well we're as that build. that And doc.ai of we're for developing kind well developing buying at

And so UX. and engineering, data on design, product they're engineering deployed

well for Sharecare you others. box there's kind X contract, then is can Anthem. of So and huge work those a it to it then and in the first products piece. if integration And really boxes, It's we think the take together. over-deliver we And about sell

that not a lot is when of We're we're things collection acquisitions of we a And again, talk platform. a we assets. about make that so

That a all it and Sharecare their this platform. year. there's build lot we how so do work the into modules And going AI core take of will now, right on like happen

and the by do third So is, selfies predictive for platform customers And start see clinical and really that smart will is the the exciting models we our the and medication take happen area for and consumer research. clients automate decentralized inside our selfies will of Sharecare Omix year. accelerate the how which then group, our to this the QX end

built this internally they've our so work And really great speed. product of calling we're what operation

We glove So biotech. inspired year have a we of have care? where these research and now we do and because to speed $XX is the great division being that do developed. consumer clients. million hand new And And tech, accelerate pharma this how the been with science with goes vaccine by our life we've all we all in

so to starting And clients. introduce we're that capability pharma to our

runs So be new who this is huge a for product to our division. offering consumer going Laura,

just then And everywhere lastly, the all time. it's AI,

our we AI into how keep so And customer do base. core infusing

that of so right? lots SDOH way we and give the medical record and How data, what is We've what's a best of population like have we data, customers total this -- got looks next data, device So do can action. cost self-reported the we data, of put data their to what's and already the view Tonic, claims our on data.

can then platform are not problem we're to the we go And so customize just where sure identifying also the road. Sharecare now is. an we say, you individual giving can on we they show that the only them the and data But make level to right

that can savings kind going go is on the road, of this happen If plus on road, it's could cost they right this And wrong of get to the have outcomes. type impact. the if we so the them

sales that services success that's clients. so in our very we've now have health to regular to had expect all Anthem those And similar and we presentations, selling becoming plan our with

Richard Close

talk highlights sustainability revenue the -- the I term? the you That's quarter. appreciate about and that of are all longer duration guys bit if thinking was or health I you type little of security a really helpful. wondering guys How could in updates just

Jeffrey Arnold

to personally, you stepped what I going repeat feel here and in it's tech guests and done and -- be how literally think need it's not because said, security you health can't And like security that so step Well, think health and is to practices to I in forever it And we've best we've return. forward. is cybersecurity, enable step binders. your employees safe repeated do and

And plaque things I application. our career, developed front New been week. checked and we've we've the most the It's was York, XX verified in in this hotel had at -- been probably there this in of a all a deployed viral in Sharecare the countries. desk has

cruise first over and affordable, it's in media -- And $X already billion this or if an live been left for soon were hopefully America adopted brand the tech-enabled. generated it's crews we arena did It's It's a so XX that arenas. the great or year. safety. celebrity countries. ship in Sharecare where verify us on We hotel building. impressions you're It's schools. It

Michigan, the these they've a for platform. accounts. going I work every here become to Sharecare signing or community time get well-being, our it lot our us that hasn't verified security mean pillars out the on last it's And we credibility of of forever. time which Colorado vaccine puts as And put since And release mentioned X-year contracts we somebody perfectly and gives I even now, we're contracts credibility Arizona win is -- trying started we're X that core to we press it think be behalf that think we're spoke. our still out resilience, fits got and into that yet. And health state we I a we

can and coming. Act then CARES do we -- have whole registry be you see we going this to and it's databases -- this can we we can into, so and flus integrate And with the get for

And so of a we to going our pillar core platform. alongside community core think is that be this index well-being and ours our alongside

Richard Close

And that hotel That's It's basis maybe there. on like annual or in, the model just just you really that just the an my on onetime example help checking how that terms what of, about us on us in remind you helpful. that recurs a is revenue is understanding -- that gave shot?

Jeffrey Arnold

Yes.

So for it's stadiums, annual an fee.

bad it's been money don't we any because was $X,XXX pre-COVID you then per $XX,XXX doing during out One But first And COVID. which like it's so arena. think and hotels, for travel $XX pretty is it billion per have I the We've in know, to bookings. with hurt crushed, as rolling partnered aggressive in hotels year. $XX,XXX they were Internova year.

the hotels the these world. call they're think is -- all at travel sent book they of they largest that book have or somebody every were hey, COVID to and And largest your and won't having the I hotels companies what's wanted the a time mandating all hotel because practice? out verified agents, say, one Sharecare their to they XX,XXX to XX,XXX they hotel in unless

now it's say have and so verified. a And they standard could Sharecare

those get And year. many not charge And onboarded, But think to but as the possible the that's of any numbers, then very reflected in our it. goal viable. our XX,XXX it's we hotels per hotel love way, hotels of And as so any in by numbers. is potentially per and $X,XXX that's not

putting press them As verification. generated they said, about with media releases $X impressions Sharecare out billion I their

Justin Ferrero

Yes.

to it question, of just the address Richard. part So is recurring that a last model,

Richard Close

Okay. Congratulations again.

Operator

Larsen. coming next The David from question

David Larsen

One more here. quick follow-up

with wins Oregon, platform members, and you've fee? a XXX,XXX Health like it of and business of these the PMPM hunting those Centene Or line the are license? Net's in Medicare California now on more highlighted new that is these right generating a like With lives

Jeffrey Arnold

PMPM in a be starting will it No, January.

David Larsen

on a great quarter. Congrats

Operator

Arnold And this conference any at no call I'm now to further turn the Jeff showing for over time. questions closing I would to Mr. remarks. like back

Jeffrey Arnold

reiterate points. Sharecare key for to joining just joining like a call Great. Thank to you. our I with like would and appreciation few you following everybody, to leave today. I'd the

all announcements about we've take great in we This and penetrating. And our we're XXth this is clients raised I members. just about so our believe, acquisition. today our, smart and acquisitions We our on hyper-focused and put Sharecare clients that that make service enterprise that large help and can what's have capital we're is talked that we've we profitable,

be to did example in so we continue today. an to of we And intend active M&A as what

revenue We strong we think because going platform. XX% in position. be be position year. the And scale We're to going we're that high have that tech XXXX We strong for into visibility. booked we have to a in going very

deployed a exciting in to we've we're platform really of market. We're we coming that are assets. that some said, I have initiatives collection scale. one As not And

security quarter. our our community create think investors, health advocacy and perfect our forward your about enthusiasm users you and that's our our you our today look care. our Sharecare, our to asset. we think appreciate And I our to Take next clients, about time can enthusiasm the and for well-being tell going multi-payer talking solutions enthusiasm to solution, storm and about we

Operator

Ladies you for and gentlemen, participation. that your concludes our conference Thank today. for

disconnect. now may You

Sharecare (SHCR) 11 Aug 212021 Q2 Earnings call transcript