SHCR - Earnings call transcript Q3 2021

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Operator

Good morning and welcome to Sharecare's Third Quarter 2021 Earnings Conference Call and Webcast. All participants will be in a listening-mode. After today's presentation, there will be an opportunity to ask questions. Leading today's call are Mr. Jeff Arnold, Chairman and CEO; and Mr.

Chief and President Ferrero, Financial Officer. Justin

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

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

press please the like can Details non-GAAP is historical In reconciliation Arnold. most go conference performance. Jeff non-GAAP believe evaluating in note discussing in GAAP Please hand between the non-GAAP are and comparable company's important measures on ahead. that over of be the found posted website. certain measures the to I financial will now measures that would financial these to measures to be Mr. the we addition, relationship on the company that

Jeff Arnold

further reach members, consumers quarter our XXXX proud we quarter for to leading consolidate overall improve that their employees in Good and platform performance one easy providers, of strong morning wellbeing. they you regardless very of expanded we and payers, to By I'm to millions of everyone conference delivered to call. Sharecare's manage the and life and with partnering are measurably buy, their on health joining populations all and fiscal make engage where companies thank digital it enable for science with another third their them employers, implement health journey. and their of health place, financial

a results let financial our provide the me Now, brief quarter. of overview for

quarter adjusted and expand of The period seeing EBITDA strategy, our and to of results acquisition. delivering are reflect in revenue EBITDA of revenue expectations. the land the demonstrate to exceeding execution guidance, of our recent CareLinx our adjusted beat the business and integration We we $X.X advancement $XXX.X million continued our and growth initiatives The the million. development third initial market, of successful year XX% our prior the compared results the momentum

to with Smith, key UST's Jaffry continue Kevin Anthem; also our bolster working with closely he our We team executive Anthem; from was and Evan Investor of joining Head new led business Relations, plans Salesforce's ran Healthcare. previously us healthcare and sector who including Mohammed, with Change health O'Laughlin, hires, including healthcare who

Additionally, I'd Committee his Shah on recent Dr. appointment like Director. Advisory to congratulate our the the Nirav CDC Chief of Medical to Officer,

and remainder to build for XXXX and fiscal XXXX. of gives momentum, great in fiscal are profitability growth continuing for confidence We the us which

performance relationships in our and Lennar clients, year. enterprise. second expanded which by enterprise and we channel, quarter, with begin AFLAC, on In Let color to will our new next fourth including starting well me as provide some several on clients ramp early quarter with as key the the

the with well program clients quarter. Humana's note disclosed previously as the are implementation that government CarePlus I several executing on would commercial including both also well many we launched health Nordstrom also and others. corporate sponsored Martin, as like We Centene and Lockheed during plans among wins, and of

nearly the the are platform. on base million our to track result, we with year a of on As expand XX and end continue lives to lives

our when growth smoking suite Sharecare, consumer the to over growth will total help therapeutics and of are we July winning behavioral we which issues, new engagement These further both Director we're expand seamlessly minds their with work, build behavioral In digital of support including employers' eating, who Unwinding growth It's than seeing their and virtual by XXXX. habits. as opportunity. and people health empowering and next and this market the integrates app into healthier emotional overcome launched science-based physical by interconnected Medical acquired and by increase few we of in for Dr. anxiety, platform vaping Unwinding comprehensive a research wellbeing. demands increasing Jud enterprise. a addiction improve reduce Behavioral MindSciences and be people our years our opportunities deployed address in introducing broad-based their that more Health clinically proven of understand people Executive therapeutics, in aspects also digital neuroscientist how in proven mental a area, based of To on stress, award complements care help increased Sharecare's health current therapeutics driver addition, mental designed psychiatrist, to and manage digital a well-being to and decade penetration became significant customers renowned Brewer, better solutions

the Lastly, CareLinx, the integration of of very plan. team which well against given I'm is proud performing

House loneliness. functional X.X XXX,XXX Elizabeth while support pandemic. the through care remote for minute monitoring XXXX platform Through of by these more real-time realized Medicare with supported seniors over Sharecare to activity million Dole demand CareLinx and veteran care to personal care over rich the a their care our health that isolation tech-enabled hours on coordination facilitates at X.X population needs services that home analytics been million services ultimately health members AARP with having home-based living event like CareLinx and the care. in on of than acquisition. to patients deliver determinants right chronic in-home With advantage since has is delivering recap access teams today. professionals endorsed and capture, a than reinforce with providers more the with plans of has and helping CareLinx's with CareLinx care tech-enabled technology increasing now, advantages platform Foundation to home nationwide relief the this care, a data leading conditions in health, visits, call, To I'd last a program take competitive digital the families administer address care the clinical of social and gaps identified digital to military amid Today, close respite X,XXX White recognized in-home network

a in capabilities we're advocacy the in developing digital capabilities a with base the differentiating including employers, In to see And unique strong and leverage existing addition as decision deliver market to and becoming in a all and will capabilities significant the Plus. platform, working in risk integrated a of to partnership customer to Anthem, and support. leveraging our we we benefits flexible the with the with to artificial performance plans are have Plus Sharecare their home. via as comprehensive our will live needs they seeking solutions, bring from providers. navigation Sharecare harness payer the address solution cross-sell health how to engage prefer well or this on we where and existing or therapeutics drive of more their assessment importantly, of step precision health industry-leading uniquely and scale component data partnership their Plus, solution, CareLinx's customers, building engage, best-in-class informed Anthem as with whether solution, Sharecare closely digital providing every components at strength where new opportunities engage health drive talking on in Sharecare's the and positioned power to outcomes to of we to to go them person the agnostic Sharecare solution assistant people By payer agnostic our capabilities more intelligence journey, decisions quarter, digital advocacy and by the improve their a to

move our physician provider systems, approximately services on and me let health to Now, with channel hospital plans. practices, X,XXX

medical with systems XXXX a our launched largest unified companies offering the strength We a our which signed to channel, contracts demand contract see for Vendors with Class of one a signed the center and diversity new volumes based retrieval, integrity, clinicians regional world. leading and continue overall of and value We care retrieval XXXX. which Showing contracts and the our and provider our with ROI value-based regional in and care re-insurance Report. solution highest medical physician suite across performance we positive for multi-specialty patient solutions. and life the record begin payment of and division record their We our enable rating health strength with in and group payers will Sharecare quarter opportunity trends this offerings, the payment of to first integrity during the for the in quarter, hospital signed received business, for

with next since wellbeing clients supported plus science for database. life audience a of performance which targeted leveraging to companies suite in average platform campaigns year significant new very against dollar consumer leverage targeting to solutions prior index. new new continues The and reflect already from on a in Sharecare’s behalf has brand consumer team XXXX power time our campaigns. positive of the by channel, compared goals in and per focuses million trends adding to had results increase QX, brand implement our pharma ability Moving on the which of brands revenue momentum this significant and number million our selling an content solutions first-person its solutions to specific community advanced experiences of The year messaging we approximately strong build which XX insights to momentum feature built capabilities, Sharecare’s channel strong deliver XXX immersive

integrated efforts companies doc.ai data acquisition powered sciences research Omix research actively through intelligence studies. new We artificial and and clinical smartphone-based decentralize Smart advance capabilities relevance, our from to and have equity marketing further and pharmaceutical life to integrity to to are

approach automating a biopharmaceutical exemplified Omix, recent collection data are achieving generated of realizing by understanding Smart building among but representation symptoms company, UCB, specific a streams. Through fact, for only scale. rare today build disease, a a behalf journey of future we are relevant able on people by conditions, to rich everywhere. the medical care real UCB effected to these research global from yield we research With our population maximize and like observational of patient speed research digital conducted partners the this study and diverse at highly also measures not of objective complete futurist findings virtual studies, conducting world to of of which In

in these fiscal We are support growth XXXX. our further which excited the in potential about will areas,

demonstrated of to I’ve channels, launching our by platform strength signing products. expanding value-based and and our Based drive results additional we And cross acquisitions. new our strategic care all third to selling of additional we now growth as current momentum our to review As with Justin and we over can a the clients, have date, performance. organic turn our multiple recurring capabilities avenues financial further I’ll digital remain we deliver therapeutics revenue and across to call through on quarter Sharecare’s offerings our strong more customers, opportunities solutions growth new confident growth for enhance detailed the

Justin?

Justin Ferrero

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

As with Jeff EBITDA guidance. we strong revenue quarter both and delivered exceeding indicated, our another adjusted

continue and positive business, sequential evidenced we the our momentum As to support adjusted EBITDA, heavily growth. to by in growth and invest delivering to results, strong revenue future continuing the year-over-year gain while

During total increased line CareLinx I of year. was acquired expectations. ahead and prior which is also the excess the quarter technology increased our entire of we support to note several client X% would into recently year well organic the we and previous talent an $X in sequential land EBITDA million, our our key current million of in organization with of quarterly quarter, compared as wins represents as the third the to primarily Salesforce executives and $XXX.X Adjusted was attracted also a penetration, new quarter, platform. revenue our to from growth. period driven reflects quarter to in also $X.X executing investments $XX.X basis, of which implementations the if across for strategy expansion. hired on revenue ahead not the growth. grew great grew by guidance $X and was more for million expand performing than XX% XX% that both Digging On million, total across This ago and million, initial the client which

platform We expect fourth now with our long-term greater and leverage the full investments customers. guidance growth traction new year. gain and to for Sharecare and to digital drive existing our I’ll where quarter turn operating the as we support additional the

the science as in companies fourth The fourth $XXX.X Our EBITDA revenue typically expected $X to their reflects which to well million is as various strong initiatives end life to QX million is consumer revenue million XX% and the channel, for seasonality ramp guidance million. than generates guidance spend increase our of of $XXX.X as growth solutions be adjusted $X in as more for quarter the quarter year. sequential its

addition, negative as from sales investments certain expenses, fourth CareLinx marketing of quarter. EBITDA and as impact seasonal occur In additional related includes the and the previously in impact disclosed well in the adjusted technology, which

to full million, of are guidance, midpoint the for the low range the which $XXX while we essentially a the $XX million the the be For of expected to of to $XX third revenue reiterating XXXX, million. $XX guidance fully we million increasing from quarter increasing and year. adjusted year that our million, the now reflects end This of EBITDA booked is are $XXX million strength of to $XX range our the remainder in of

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

Jeff Arnold

Justin. Thanks,

nine first operational growth year, tell, As months we build we delivering as the financial, our of the through you objectives. continue to and can on momentum move

wins, of established profitability. strong strategic an interest Sharecare. a to today new business solution everyone sheet, growth runway a acquisitions thank we As foundation have to extremely want support and and your in on continued Again, introductions, balance I new call for result the future and strong

to we'll open look have us, Operator? forward on to continuing call for And We that, and opportunity significant our update the ahead progress. any a with you of I questions.

Operator

first Our Instructions] [Operator you. Percher Thank Nephron with Eric comes question from Research.

Your open. is line

Eric Percher

the disrupted you. what of hear thank lives XX platform relative saw historically XXXX, versus the to and January at of you've on what October what's the and go-lives look seen been When it's April, in we a and XXXX? you morning to Question good Good trend you're July million. in maybe number the on nearing goal and

Justin Ferrero

Hi, Eric. what you Based to question. our It's on the Justin. Thank tracking year. we're expected really for exactly conversations, this we

at by provided the the at Jeff and end year, opening, we as remember guidance to quarter-over-quarter million. sequentially target we're the of million And our X.X lives in and end we the ended last to, of you alluded million think to of expect I hit to growing provided X.X X.X year.

Eric Percher

Right.

there have? sounds I'd maybe of difference And the not lives accessible of in like it years. ask what accessible versus So any then, perspective you real additions expansion -- how ramped to lives a currently lives your on is relative is from penetration prior

Justin Ferrero

where we don't is going of KPI with we we XXXX. which those to and Well, our is wins that out, a which break target expanding we we lot base, our growth sure are again to is but do. cross-selling as the as, which focus to existing the hit from growth that it's new But drive we have into we customer look make to bringing ways all and significant on to expect to of to we provided, contribute

Jeff Arnold

Justin, Hi, maybe add might Jeff. I This that. Eric. And to is

clients. is plan what's unique think these large Sharecare have about health we I really

that mean, So surface number has. is we're tons the to Centene there covered clients. with scratching opportunity I just grow on of those the lives has of or Anthem

last on Homes that XX in also us to on Farm. and opening employees. like comments, mentioned bring employees to having and who in trying effort. we XX starting and wins AFLAC sales same since success on space. lead Delta mentioned the in as onto large we've And have And our past, bringing announced, about the the constantly the at recent Kevin, brought or we're we're call we're so, But time, members employer Pam year. to like Lennar talked joined had But that's or in State we And had people I we've people with that comments, my my we platform wins the mentioned well. with And throughout self-insured ramp Jaffry I sales and

increases our the new prove of these large just punch to lives. add that one, and eligible growth roster, them really the two of add and within for work on time nice from members basis which more total kind same plans health at services So it's the logos our combined

Eric Percher

Georgian in And XX coming in Jeff, there most do ramping? far be point out some think of were you It about to there. are felt productivity How we those you a saw additions for make we the And productive? great how on actually like wins and the time, neighborhood.

Jeff Arnold

to up speed fast. coming They're

is XXXX. like that we to logos sales participation As -- sales and know, -- of those be in expect new you this logos And some already we're of Lennar. people it's little AFLAC a but in their like I seeing cycle, a bit contributing isn't the mentioned

Our pipeline even is year way more than robust last this it year. was

we're so, getting more And a about. lot

just is that So, I RFPs our than we're ago, the year known volume but it I a was was last think, brand year. getting is say -- probably Xx what of more it

Justin Ferrero

been people, Eric we if to know not I thing – earlier. don't spoke have that over sales three that one of you laid research might that were hire is we And out when Yes. report years. across clear going period to your a from that that we came And XX

track So north and right with year the we're hire guidance of years. three the right quarters this through over in next on the year to three XX of line of XX

Eric Percher

then full guidance transaction comp us That's in the the stock-based $XX.X any line last can maybe with helpful. and question, million expense financial Justin items. across costs give relative to And G&A you

Justin Ferrero

Stock-based There Really on significant is the Yes. shares. $XX due transaction comp stock-based $XX related million was as the three were comp, The to of on vesting transaction million areas. all was which expenses. was there well.

important million. that So, was And debt. point then it's out just paid to $XX I all our off we think of

We very have clean a sheet. balance

million accrued out fees. $XX saw financing deferred our you of so, And come

Eric Percher

headwinds provided to how quarters the S-X? Okay. the should company, acquisition, That's you a think and as the we after numbers helpful. about in relative and two back XXXX Last public CareLinx one, tailwinds

Jeff Arnold

Do maybe explain as that? Justin, that, to want CareLinx as let after – want you I'll do take do S-X. the to far you but Well, you

Justin Ferrero

$X know the reiterate very year. as numbers. million year-over-year. growth guidance in confident there, our confident again, you XXXX We achieving million we're that grew around We're provided $XX XXXX. guidance Yes. for We very to that we we feel for And very – XX% in

with has it's we So fantastic and fantastic for to as transaction been CareLinx come. for years pay dividends a accretive integration the going and see our shareholders, that very to

Jeff Arnold

XXX on Yes. CareLinx, million up We health plans have now which makes members. X.X advantage Medicare

Eric Percher

Thanks so much. Perfect.

Justin Ferrero

Sure.

Jeff Arnold

you. Thank

Operator

comes BTIG. The next [indiscernible] question from with

is open. line Your

Unidentified Analyst

about bit on of relationship is Can and digital large Hi. just Thank talked with plan other clients? quarter. these your plans? designs. maybe Everybody health it. United talked you good about Sharecare's little some about talked about Aetna you. there talking talk first CVS, contribution what color about to you Congratulations is some Can Anthem Anthem a it. it. around very a give your

Jeff Arnold

Sure. Hi, David. This is Jeff.

I think important play and with particularly strategic role an clients asked our about Anthem. we you

that So a our significant made Sharecare powers It with their other you to services. so we're solution, million in investment intelligence Sharecare, when play into know co-develop solutions -- artificial as much Anthem's Sydney through platform as with And Sharecare we it Anthem advocacy. addition $XX of Sydney. multi-payer for that is that which that could well role have Plus as in we our was April we driving

employers well XXX% as well. Sharecare where Anthem we're with we're as Anthem, Plus they solution which in a solution the have leading large on other they're to our So as not selling clients that

of becoming their leverage Sharecare door helping multi-payer we it's And digital front opportunities has lots within the clients see and decade then especially those assembled over that appropriate all our for went our growth relationships. all of last clients. So capabilities own the

Unidentified Analyst

Group a in-sell client is Or United their is And there? CareLinx? then Health of Okay. potential

Jeff Arnold

Yes.

as relationship to other for it as will with to have roster us has give capabilities. relationship to that in United CareLinx XXXX we're have Sharecare past. on as we the well some XXXX hopeful from an CareLinx a other continue payers does some that it So, grow opportunity as cross-sell will new well And significant our didn't

Unidentified Analyst

there's million I'm like for I thinking Sydney. price number doc.ai members is like very think those charging Isn't dollar And the and members? about the X think rate to – through then potential. you're XX like just a or serves So of PMPM that upsell lives Okay. what large I that would that maybe in in the the multi-million the that Anthem range like

Justin Ferrero

PMPM Justin. a fee as basis. license long-term Thanks We charge It's charge question. the more relationship that a Yes, for We it don't David. on Anthem. it's and Hi. with a

and – so And it's the in millions. double-digit

Unidentified Analyst

provider thoughts had? the sounds good is slowed Great. doesn't my It business. just Delta surge question then like Any the momentum there. down here Okay. It what on the sound last record you've it's selling on medical side. impact like from got variant very retrieval And the

the into Just any in-sell you color you and you or that thoughts still XX% booked? like And X,XXX there about are sites longer-term. talked had could

be Just there or would any update helpful. color

Justin Ferrero

We that to QX well. business are. in That growth there's saw, division And very from you QX. as performing is QX sequential to

expect year. to do We more record QX. number of in this We're retrievals record going a

hit KPI is and tracking million Our we're there to X that.

So, performance division. very the pleased with of the provider

Unidentified Analyst

Okay.

Jeff Arnold

is division starting say, cross nice we would hoped selling for. I had see Yes, the David, two what's the about that we're to

enterprise XX,XXX I we in hospital think mentioned thousand an Emory will Wellstar for example, Healthcare, the had as platform client. client, past come is So XX plus plus employees employees the January will in platform onto enterprise as come which onto the

the And enterprise city we're so, often which in X onto medical these come clients, there Sharecare their largest force that new a the our opportunity health we rich out X,XXX to really services. as to employers ROI sales records. as got platform million are like staying is systems in in clients these as And retrieving have addition

Unidentified Analyst

you in great. health seeing there, and stadiums, used traction And that any? restaurants, vaccine of what I could security vaccine What lift seen have developing developed are know are then passport of or you winds? you've around That's be sort hotels. related sort if a

Jeff Arnold

clients. countries in and XX Well, business we've the that built space been We've to new surpassed bring verified. the quickly really product just well. We to X,XXX ourselves and solution pandemic over tech-enabled a Sharecare help arenas. world adopted night restaurants arena the I saw has got relationships last with are hotel we on in the reopen. I reacted in X,XXX continue amazing positioned That think, to

around rolls implement, And and well plus able Biden employees. really We to have we with mandate under with proposition path we're companies, think We a to And easy mandate the employers our system that global value health use be as you've to seen companies, positioned week. really our we're just made tech XXX that's first that last great big out. government. sell in conversations

here we're positioned this It's think And said be And like to well cybersecurity. our that we that build is I've really stay. to so brand. to our and to the health is in able past deliver like security clients

Unidentified Analyst

Great. Thanks all. good back I'll in Congrats quarter. queue. a on hop the

Jeff Arnold

Okay. Thanks David.

Operator

Thank you. [Operator next Richard Canaccord Close with from comes Genuity. Instructions] Our question

line Your open. is

Richard Close

lot But A questions a my of Anthem. just Great. have been deeper maybe Sydney and asked on and bit here. going answered little

So call in most they It represents when an national Anthem more commercial signed Sydney like their have gives preferred. for update, XXX,XXX like recent XX that up accounts members. than

that, as clear, Just positively because respect you have with necessarily Sharecare impact with doesn't contract be from to Anthem that to minimum guaranteed doc.ai. they legacy grow it

Jeff Arnold

well more are that both that digital we're or and needs it's think that going – new and in solutions And as and help have them be doing with a doc.ai obviously Sharecare we they're whether business with Plus we're digital good make across members throughout Anthem. of that capabilities solutions deploy Sydney lot as strategic their the that we'll to we Plus. as more that which a as is Well, major valuable and well. through their be Sharecare priority, a win to artificial think a partner intelligence platforms and of they mean Sharecare more to through providing and continue that I their a have role will services them Sharecare be very their what sold can Sydney or through engaged through sold other has sold Sharecare But more

Richard Close

through gauge that. that they're call that like trying but guys looking there should have be advocacy you to you potential door How you members understand number thinking as accounts we landscape? guys minimum partnership, the about at the a Dip] Anthem to of and a and are navigation I you upside because track If great a how or number about Anthem thinking partner on quarterly advocacy? – competitive are read [Audio just and the have overall, I'm Obviously, reporting you that. – the environment with basis. No, we Yes. like in of the competitive how it all that

Jeff Arnold

intervention So, to were assembled to platforms we of Anthem, and valuable that valuable I cool. it to our four but partners, a they're other were at we well really platform think our before about these partners, we're advantage Sharecare also we think blues because that we've positioned think, our pillars clients holistically And are Medicaid that Medicare our RealAge, self-insured have predict do and care so that navigation? pillar it's do like to the intervention? of do really offering then And how digital And you cost outcomes. how of a doc.ai, pillars employers. second strong plus of and And other against we three digital of So is first think therapeutics. across the

and for trying solve point these all of who solutions. the therapeutic to at aggregate time we point pain our a are the because So get big right utilization have such high right higher digital engagement, we clients

where The this building third is this we're Sharecare out Plus. advocacy,

can this caregivers, multi-payer healthcare, deploy and shop And think that's starting one this across being last we of really across lastly, to so be have enabled caregivers we'll to tech able opportunities. XXX,XXX country, stop of kind we're And advocates the that mile then themselves. XXX,XXX of those

that, had hand-in-hand in with spot got a And We've engage so on million when we're developing one our digital you take take the got robust content. payers. HRA the We've largest our solution advocacy therapeutic marketplace. most of we've that XX people and

that. got last mile we're across all Anthem. one when is it believe first then wins data the friendly. what getting time. seeing platform getting where just on We're board. the covered It's we've interoperable. And And not right we're the to So we It's this be user

take also provider one business together you believe then of and and platform. big business. those that excited we We where And one on super this in category one three we're so in have And a million talked account roadshow. we all work $XXX a company consumer into ecosystem about that that our

Unidentified Analyst

there. XXXX. on we're Obviously, up little there consumer And bit. then to dive side, in Helpful coming maybe Great. on the a

quarter Justin, you usually fourth strongest there. mentioned quarter is the

comes year thinking thoughts it's the regarding of – budgets in know about of But thoughts any your legacy, for versus that. how discussions marketing Based any mix the fourth your and digital? the from they terms with XX% shift those on all are and in towards said how I XXXX customers’ quarter. looking you early shift think towards I budgets are and channels digital guidance clients, just – like the

Jeff Arnold

is I'll our This really is Jeff. that is start consumer Yes. Hi. Maybe division strong. Justin

leader, have We a a team. great tremendous

to this back long in been This going pharma think science a a We health big kind WebMD was But first back party for and Sharecare from COVID. with database. about for digital space, late our is appreciate We've the pharma what way all life working time. have experience I lot of of pharma, a in in bounce companies year XXXXs. a

We XXX database. our first party on people million have

think really to ability like they an XX have quality our as I emails produce example. our high million content. appreciate high content, we And quality

we think database. example, a from over our I and have and for be perform because quality that XX,XXX able videos content of quality library the of to them of

new keep to So back us campaigns. coming they

note differentiates us we volume that release their that last produce that a clinical that and state-of-the-art us we out So can earned for potential is doc.ai life really their personalize us. called we on just for we our bring against product. that's that the their But week the like decades this Omix, also introduce to doc.ai. with really think about trial if relationships has users. we've we term. a sciences that we to product, to clinical going two it's division real We excited well massive for all about over all think capability decentralized experience the up trial peers our and the campaigns press continue content is performing be big our you first client have I'd Smart which been We by decentralized underwrites this them last pharma that put enterprise, picked from contributor. the And to received them this now in long clients going And our and take it's UCB. that of and it to we're content use for grow expect which we to the

You'll year, in see next to start it's it take we XXXX, but really going off. to think

Unidentified Analyst

on on Apple’s the and question anything with with like a impact consumer, situation? final securities, guy, that in that your advertising side Sharecare does lot whatnot A respect cookies, and changes to marketing noise of Okay. changes

Jeff Arnold

of a for party And that it's referenced. that database Sharecare great great a because opportunity It's I first question.

irrelevant And would go our It's tomorrow. cookies away so deliver we to how campaigns.

Unidentified Analyst

provider Okay, payment just great. And can value on two and couple based on on little seeing more helpful? a integrity I would about side, fronts the if could bit care talk those what slip you're efforts be you a in

Jeff Arnold

Sure. Yes.

see we but a enterprise, growth on focused provider unit highly we're great well. as our obviously as opportunity So,

to unit So how things but million we we take other of do so enterprise cross-sell enabled it? we've can we Sharecare and a focused grow this idea this X,XXX them, $XXX One and have clinicians. and clients, on is remain

risk. us thinking And is, providers to take the there to types so the going on health of that need are takes as off are same the payers from care that the buying platforms value-based systems and

health within Sharecare payment we're being there confirm made to WhiteHat and able I'll this traction come revenue have Basically then be we we integrity identify well. back systems, One we've to value the and the let for complement repackaged the strategy. so abnormalities obviously, And starting Justin, to And I'll it was that base. the is there to talk see on acquisitions as side. which real platform. some to two and then it then And able to and

Justin Ferrero

Richard… And Yes.

Unidentified Analyst

Justin. Hey,

Justin Ferrero

second that's executing talked XXXX, expected is also contract to outlayed about, in the based happened integrity value-based value Jeff opening be half we're and his integrity large contract. payment in a payment on and remarks care we this As we contributor of a which

XXXX. in good not them go to we as And but also momentum have only now, nice up QX, from a set into contribution so we're

Jeff Arnold

Yes. Then on value the will that mentioned base with care, launching we customers XXXX. of in QX I be

our have bring resonating with platform is like, go that the value So that the as we same into care. me base of payers clients

Unidentified Analyst

Thank Great. Congratulations. very much. you

Jeff Arnold

Thank you.

Operator

Cantor Our next comes from Ben Fitzgerald. Sherlund with

open. is line Your

Ben Sherlund

relative At on me to which $X.XX million of wanted follow how up users to XXX segment. would you XXXX, media monetization of suggest could Can You for party disclosed consumer of have guys. first I like XXX Hey stages taking a a the platform? for way the color platforms. in the these you opportunity? other Thanks very to me It just unique signal question. frame my any million help some advertisers guys there the the engaged of on users, you of says provide with roughly you're actively very bit is are users, I in here. many early ARPU seems

the be the Thanks. color base, increasing So the advertiser growing that engagement is driver would expansion major any maybe monetization helpful? users forward from of moving or these

Jeff Arnold

adopted. build really these human mentioned to but of been it's that excellent for think launching job quality it's a I we products, our to product, immersive really from – to But body good the great enough that got has We've I Sharecare space. innovate well I maps leadership, lots up awards for a Like Google think, the we've space. continues brands from we win have database, renewing our to history continuing kind can done which new kind we rate. adding a the Omix and in our high that where And brands the the of – think in brands. which new roster I XX It's often of team, and campaigns we clients we clients. the got have the existing content I coming are recently Smart grow. Labs fulfill and won database of of ability innovate the Reality fulfill, product have a deliver new a really renewal these to with capacity we've We Yes, called of we think,

new adding a we’ve and to of just bringing matter what products. got, introduce on more continuing keeping And logos, so new it's brands

Ben Sherlund

guys. color for Thanks great. the Okay,

Jeff Arnold

Sure. Thank you.

Operator

is David question a with BTIG. from Next Larsen follow-up

line is Your open.

David Larsen

virtual you recruit talk members? bit have that on helping what the based Thanks. you please, into that those you have clinical little trial the Can about activity patients Hi. more on detail you Maybe conduct to trial are a trials clinical the in data describe and those actually you're doing on? going

Jeff Arnold

Yes.

So this idea is go believing could collection platform from one of of care doc.ai’s kind of itself. premise the within when research to data we an bought smartphone this be amazing them to how that was

platform in. That could could smartphone intelligence build And faster data that could to built help researchers. that the so, start could a artificial that how from the make collect had you predictions

mean, the foundations I this kind is AI research And core of care so of doc.ai this research using of was to was, one for researchers.

nurture. these these And continued we pharma brands. with how create great introduced operation and all have consumer hey, all our of work so we've guys group speed. we could that you And product to got technology this they've taken have we've And these to relationships users version all that and we've said, that and our

we of And can stage the week, relationships a to a And life it. the So discovery. future outlook with week we're came results role development And seen. us that to last the opportunities on How business and that. we technology we've we for a comply well so for and year. this great demand UCB decentralized in positioned same trials way can that think, use give the in really conversations and do were talking Boston lot about our that our what and we're users seeing in accelerate Sharecare think clinical of the be our vaccine announced we to I it we able that

David Larsen

Great. Thanks very much.

Jeff Arnold

David. Thanks,

Operator

with Eric Our Percher Research. next comes Nephron from follow-up

open. is line Your

Eric Percher

the unwinding, you Thank demand? and digital particularly It's good where hear think program. therapeutic you. new Wanted bit about to What tools interest follow do commentary. to the your on up for most a pent-up there's are getting

Jeff Arnold

just our think an within for on I space interesting on this. angle kind behavioral whole is I of unwinding, taken And clients. fire think the Well, we've health

was So mindfulness. it during based. the others. pandemic, all had NIH done on and is in we liked we research They one based when $XX acquired [ph] what million evidence and Yale-Brown is was about with MindSciences MindSciences And it

are lose have other So, issue. relationship losing could found all financial financial next what you these So do you you really research their big stress like I've do said that we things. And that is you what weight. that things? with in the help smoking And food? relationships is stress people different Or a our in and is retirement the have what about jobs and and diabetes past, with worried

for can research you've actively look, XXXX. so we clients we internally, that? evidence so and could a people to people surveys that amazing consumers and that seeing And mindfulness MindSciences, back our and could sales stress. help the of solution with we developed resources and that build that team at that off bring that enterprise And we unwinding said, are this we financial we're selling How All got went under tremendous approach. to based are is the

into on there's platform. get it opportunity. going approach now huge make it's million for into the it's available huge, as opportunity because we're is all And with platform. mindfulness And But are WiFi it's to people prevention in turning on So XX into so well those can to clients that a members switch Diabetes base, members just really We like it's getting the then it's a our and to is pre-diabetic. as active the their getting our that and trying so back clients. the resonating the them, enrolled always see of contract just integrated then already financial that hit we that the as to issue right And sell upsell they recognizing stress. XXXX. current our it of

trying And so, stop then your people to we that have And and et grow. and cetera. that lose a solution always continues staples, smoking, weight are interested to is for all in

Justin Ferrero

Yes.

but it new sleep, in And what for is XXXX it's a don't to per we're Based us, like Eric, individually, hypertension expected. now so areas we expanding significant. with in is big others. Pre-diabetes about your comes areas break is them our research like it's and on one into you line when conversations, talked would've is, we and out it diabetes

conditions really it's expect. major So would the you that

Eric Percher

a program when about for ever Justin, approach the two. It incremental that. that we something think covered should quarter we digital would to under next new out following have and think or as pharmacy you sounds or market, therapeutic And you these would be benefit? go Thanks be like of up a will in medical or Sharecare’s roll PMPM, to

Justin Ferrero

well. as at it that PMPM. you're of that short – looking But incremental we're expand it models term, In ours, in but I at the to incremental would PMPM, the think look could

Eric Percher

utilized Got would risk it thinking – it where an or And themselves you. if are is take opportunity a earlier be in it come who that willing would or a mentioned last, on it provider then from? to that for outside pays you at enterprise, mostly of by situation consumer does the you be physician who'd this

Justin Ferrero

think I Yes, we're pursuing of all reimbursement. of forms kind

the So to therapeutic. at consumer, at of for models different we're all looking risk, direct kinds

Eric Percher

much. so Thanks

Justin Ferrero

Sure.

Jeff Arnold

much. so Thanks

Justin Ferrero

Absolutely.

Operator

Arnold Thank for you. to call questions. no remarks. the currently closing And I'm back Jeff over showing turn I

Jeff Arnold

Thank you. Great. million EBITDA. be We We our and numbers. going to target, rate. hitting and Well, our year calling revenue run strong more And we to update care. at you. everybody progress our about $XXX take like we're adjusted feel continuing going nearly in excited into appreciate Thank couldn't really QX end about learning forward and on year next the our look to you today

Operator

conference This today's concludes participating. Thank call. you for

You may now disconnect.

Sharecare (SHCR) 10 Nov 212021 Q3 Earnings call transcript