SHCR - Earnings call 3 2023

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Operator

Good day, and welcome to the Sharecare Third Quarter 2023 Earnings Conference Call and Webcast. [Operator Instructions]. Today's call is being recorded and will be available on the company's website.

On today's call, we have Mr. CEO; and Chairman Arnold, and Mr. Jeff

President Ferrero, and Chief Officer. Financial Justin

statements of our we to the which this statements capabilities, made forward-looking like we Private new call cost savings, regarding the you be Before Act would include statements Securities remind Litigation begin, of provisions safe the harbor that guidance. Reform certain will strategic and within of expected meaning XXXX, pipelines during initiatives,

our risks forward-looking to based current statements reflect are uncertainties These and us. available expectations various our currently and assumptions to beliefs, on and subject information

from actual these reasonable, of any Descriptions will Although expectations we to changes after obligation occur undertake some revise of believe to that results reflect are cause we the call. no factors the statements could ended that discussed in are materially XX, differ section in SEC, the statements year forward-looking filings our our Risk these the December detail of for including Factors the with 'XX. XX-K more Form to

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

please now like ahead. go Jeff, to over Arnold. would I Jeff to hand call the Mr. conference

Jeffrey Arnold

we mark Sharecare. and good and at joining significant everyone. today We a you, morning, as moment you Thank of for appreciate exciting us all us

day-to-day for growth and Corporation's appointment forward Executive are CEO new also next our working is Sharecare. remain to President our Chief activities Centene and the our closely operational In looking I'm multiple business addition we in years third Chairman. objectives as strong engaged former Operating role continuing evolution quarter near-term him as business in with as in business the I my sustained the of results, Officer, with and excellence in execute to the making, as to positioning represented Layton, This Brent of

been health an digital personal have are people we improving in end-to-end inception, no focused on platform journeys. for Since well-being building matter where their they outcomes

here As we just sit today, that. have we done

country's and for plans. We have some the a health of notable employers platform choice of most built

opportunities also there right focus growth operational ensure CEO have why Brent excellence. which the accelerate our is believe We strategic expertise role are direction to time technology significant and is solutions, data, to ahead, to new on me into the create now our my continue to platform for leveraging step and and

with I'd Brent's I in detail, Third an discuss Before to our like Quarter appointment start overview Results. of

$X.X we For million and of EBITDA of the quarter, $XXX.X reported million. adjusted revenues

teams, EBITDA our guidance exceeded and the program. and revenues Provider our the the at segment This strong Revenue record by execution of guidance of driven high of our range. in the realizing was reduction benefits was expense forecast adjusted end our

affirm million $XX adjusted million. In X year-to-date, year. million to our in million guidance million our between of full EBITDA prior is was was and it over and quarters fact, triple it $XX the an I of would quarter. revenues And versus $X first last $XXX of adjusted what year of year to EBITDA the $XXX.X like improvement

the call. Justin later will in latest update our estimates discuss his guidance on

XX.X Importantly, that breakeven customers, payers, a quarter, to our million large it high-touch and year-end personalized well-being we and and forward. and to carry expect well health lives strong was and and overall employers, track health government including we TPAs populations, solutions that members cash remain as on high-tech, flow our clients' our systems, momentum be deliver platform to delivers through commitments to proven eligible service as

industry's are well transition to apart from the and from the within Sharecare want digital value-based why to sets health what space to spend a also fee-for-service care. we I benefit moment highlighting positioned

Our risk outcomes require high better by simply our chronic are routine platform preventative for members costs managing delivering care conditions successful with and proven lowering our or people in in interventions engaging resulting health and and both whether users, personalized customers. our has recommendations and

our investments ever-growing in AI continued data our improve efficiencies to Our generative enhance technology, continue capabilities. expansive leveraging and and sets

high-touch We are efficiency supplementing AI and to with member our quality clinical coaching advocacy the interactions. of and services improve

delivered call Bolstered on clinical customers to with data to full power and relevant our that the and quickly their dozens the care and AI, our from our value-based behalf files navigate work, specialists using user and AI capabilities center plan multimodal both health. information people critical across benefits platform for optionality. we in pull Data can manage seamlessly and digital are of resources unlocking to types of the of is their that ensure our resources,

and outcomes to improve tech-enabled lower continues integrated CareLinx, solution, differentiator care ability Our and another be key in home to our cost.

Net Our training XX Promoter Score importantly, level the bedding of industry, quality, our is ensure rigorous to commitment underscores the of professionalism and and the process our safety. and highest in among most

plan care management employers Our their a benefit, themselves a extension to as for health as customers benefit solution and provider clients teams. as help an ones of when so. their loved our our to care not supplemental their our able And they're home use care do employers better

functional or and members' trust can that drives complexity and clinical clinical a unmet address help our which not have services advocacy needs risk for the referral also XXXX programs. only pipeline home, beyond, factors and but we through assist in and engagement third-party growing identify social with We

assets and cost without leveraging the As sacrificing service customer progress outlined above, customers drive our deliver in our efforts improvements improvement our margin ROI with healthcare continue solutions made and that ecosystem approach. globalization track. we significant to across We've unique data-centric as planned on and our for

digital customers, of proprietary the interoperable to our the experience the for have we they seamless Overall, of and technology, and be platform partner serve. deliver choice regardless a populations data

believe there value, two of are we As shareholder opportunity. significant I continue look our and unlocking focus ahead we areas on

health have thousands health a currently resources where hundreds We insurance and customers government-funded to number state in is in employees. first to plans Medicare, well-being of health state several sector, The of and including programs, marketplace. including this we Medicaid the benefit provide

addition, are multiple with using as home with programs, members well supplemental CareLinx, engage for their offering millions technology both care In as service, benefit Advantage we their our members. a Medicare to platform as contracted MA of our

to poised existing are state go deeper local with contracts. We even government and

in roll and savings leveraging to challenges we second the The share develop is our DNA, With their our To models to cost choice. new announced are many to the actively customers assets our are our both and And offering exploring end, adjustment in in address that that are we we of our solution facing. care strategic earlier, solutions value-based as I in we QX addition value-based XXXX. contracts be to of in partner with innovation risk customers. risk out will in capabilities mentioned new

that X, on a this strong the excited XXXX. Layton together focused foundation opportunities the comes agreed transition and Sharecare His positioning ahead. backdrop, to appointment Brent on As from has deliberate Board with our and against well-planned capitalize following effective become done I'm to that CEO January next the

early experience and member a and than familiar roles, who growth-oriented are of Centene with sure of of since you XXXX of more Brent, a healthcare at variety executive X he brings of XX of those Directors Corporation. not, than been including has the decades I'm public you Sharecare policy more years Board but many are and

nation's Brent Medicaid health many including while held as Development largest plans, to Officer, X capacities the company which roles Business during managed from Centene, at becoming scaled XX Chief serving the and plans time company. care health

including Centene, value-based He divisions time contracting, led care. oversaw he company and many of in at the the provider his where products into

the As Medicare and Advantage retirement the President largest health from company. nation's sixth in XXXX CEO. as Adviser largest Senior stayed Centene, of the and Ambetter, with Brent he announced COO exchange nation's Centene late insurance provider, Centene and WellCare, oversaw his to

million grew billion during revenues $XXX from $XXX Brent's tenure. Centene annual to

I am in digital growth for enhanced and with well scale We extensive we and in the large contracts and role. users, confident for and our profitability assumes detail expertise continue positioned deliver driving forward once and officially our combination product look the to my to more at experience XXXX value execute M&A shareholders. sharing are to strategy value-based customers Brent health, of with growth in Brent's that innovation,

Before who company, also additional hand Justin, nonbinding provide unsolicited disclosed received previously that financial the the action by Brent. on in a on Chadwick, of comment call the from who is the will John reviewing carefully and Board its over preliminary Claritas, we to course Sharecare's the shareholder to and which and details, fiduciary I is led we of pursue the the to Capital. I of proposal shareholders. interest want Directors Claritas Board large it our company will duties, with of all determines Consistent with me serves is proposal, be best of his

from rest of our And We our we have ahead path the the go-to strong accelerating team, apart a digital distinct on evolution industry. with health are the a set Brent partner. as and advantages us

with And I'll over to Justin. it that, turn

Justin Ferrero

the margin going Third and guide. reported million, public, X.X% increase EBITDA is Quarter and exceeding over of of margin Sharecare adjusted QX revenue with million, of is of Since As adjusted end Results positive our we high at of Jeff which noted, guidance $X.X $XXX.X X%. adjusted single very our approximately represents margin EBITDA a EBITDA highest for adjusted our quarter significant QX EBITDA the

Provider our primary channels, KPIs year. in are annual XX.X lives on X.X million Enterprise are meet Additionally, and which processed we million both and track eligible operating for the records to

as our millions performed And and results XX% yielding clinical satisfaction channel gap Promoter member closures satisfaction in client over expectations of readmission with to driving and well Net both of dollars is in nearly line XX%. advocacy Score solutions XXX. advocacy over rates with as avoidable potential care Enterprise savings outstanding at rates, our The leading of in our

by channel Medicare I risk efforts. chart set related report mitigation channel that realizing meaningful globalization once also in resulting reductions to ongoing Provider the expenses adjustment revenue am again QX, is and driven volumes. The a increases record in from cost the pleased in quarterly Advantage

spend and year revenue as and have macro we throughout QX the year. with was despite Sciences' anticipated line the the with industry in Life period seen in softness prior expectations pharma across

We of XXX zero and benefiting our million this from people. over party are of pleased of targeting are with the database proprietary with channel resilience value our high-quality the

approximately $XXX $XXX a liquidity. and in strong. financial Our quarter million available balance health We ended of the remains with million third cash

other to burn one flow $X.X to in advance As stock million buybacks million, and payroll in continue impact compares cash in $X burn which had to the toward period. the breakeven, QX of target payments excluding of which cash our we we reduced fewer nonoperating QX quarter, onetime approximately achieving

and our continuing optimization other breakeven. flow execute cash business are be against We globalization, to to automation initiatives

XX.X leaving million update X.X on under authorization million repurchase an May. previously of stock the to our current As remaining back next announced bought have worth date, through we shares program,

to business. value strongly previously, strategy our noted current allocation not does we of As evaluate stock full continue represent our capital price and underlying believe the our

calls the revenue lift amounting to annualized million in year. It EBITDA in aforementioned QX, as to and $XXX QX of the $XXX marketing expense pharma adjusted have to forward in in the the earlier million in we driven important spend. business, guide are another our is $XX.X guiding initiatives due represents million. expected $XX the to within million operational revenue EBITDA conservative to approach This earnings that we taken a to reduction softness underway discussed range to note Looking between million on by improvement myriad across $X.X and adjusted margin of

our XXXX year release expenses, reorganization now I'd focus recent guidance. non-GAAP Revenue all on historical abandoned excluded our includes at of $XXX to guidance changes, around fiscal and conformance and note to GAAP staff adjusted net a financials update adjusted our an were presented reporting. EBITDA clarified and to reflect like SEC's related which disclosed earnings reconciliation EBITDA million. previously this guidance exited of with reiterated million adjusted these historical In for adjusted inclusive contains add non-GAAP certain and But all EBITDA from current income, calculations on measures. one but of The our and to the is measures, leases EBITDA to financial costs $XXX.X contract,

and million, these respectively. costs XXXX QX QX and In year-to-date totaled $X.X XXXX, million $X.X

been have put context, the QX higher margins record that reported. To adjusted margins than would into EBITDA delivered in even

year updated for guidance have $XX to fiscal this we reflect million adjusted to Additionally, million our to $XX change. XXXX EBITDA

XXXX. is into also there are back or to impact below-the-line expenses and expenses flow. the our on EBITDA important will these This balance are highlight is previously in no adjusted no discussed note sheet expected It recur moving that new not guidance. cash simply to I expenses

quarter and third flow core our In cash margins, are report the successful closing, implementation program positive our against to cost included breakeven. of savings continued advancements performance pleased execution comprehensive record we towards adjusted EBITDA KPIs,

you We're your and vision. support take Thank the ready Sharecare for commitment questions. to continued your now to

Operator

first David which Instructions] BTIG. [Operator Larsen question, Our will from with come

David Larsen

Congratulations RFP then without activity, talk a on the then growth. any Can about the on division, pipeline? Carelon the EBITDA the little the Enterprise the And obviously. you're color what Enterprise was making revenue And excellent for getting progress you thoughts quarter? bit too in specific, or in sales

Justin Ferrero

a Dave. Thanks, packed lot out for significant had the growth. at to first? me since record Which do We our There's one. X.X%. a on we ton a one think EBITDA quarter. IPO, I want that -- We of set with on in I'll focus start came you

did QX. EBITDA that percentage As know, you our almost that's we Xx in

-- quarter. pleased there. really so sequentially, And we're a So significant the just with lift

pipeline, to but new XXXX. a -- talk to will up grow. the It's QX. customers can't how had real excited strong in and for a continues in had of double-digit out about Relative them that yet, later, very us are to sets number Those We we it wins pipeline. we come

Jeffrey Arnold

only add high, I with results to great, have Jeff, deployments, outcomes some a in than but it's starting to results and we're strong would just pipeline, coming the conjunction in And quarter, get David, of really Sharecare+ better really great Yes. lot that, our been in like satisfaction, expected. Carelon from not

super we're encouraged that. so And by

David Larsen

opportunities sounds on like you're large customers. your color you sort it moving helpful. incremental within of that? there like And Like for sort any Enterprise PMPM also Just efforts. of sounded value-based Okay. risk-sharing or see provide we be would there rate? thoughts and to a value-based a like with be you you care like be it any existing Can accepting like an Privia And forward some me arrangement would Would care with example? like a Evolent, have

Jeffrey Arnold

Yes.

the plan same. remains So the

We have a big installed base.

expand some therapeutics stories digital and digital is continues to obviously, And the And now within added those PMPM who have the those of so clients and start and even CareLinx. bought to to added door the opportunity clients in good then have success front increase. examples, and advocacy added then

in adding -- to And remain addition obviously we then logos. that, on new focused

And three day really then we our value-based we're our across platform wins. so of our with huge the care. big -- as in pipeline. We is segments, had for well example, business happy our all yesterday, pull-through And new a positioned an think

of the we participate risk, is And technologies that of into way which particular, move care guarantees and performance risk sharing performance outside of of making form people, today to and a where lot and we a aggressively Brent, guarantees, kind PMPM our that do beyond a investments more we'll shared arrangements. into just are of in lot in our move value-based is PGs

David Larsen

cost EBITDA of just I step-up new level, around Okay. onboarding? in a some incremental for And margin for Just higher Is a should this hop we queue. then in expect at one color sustainable before high more in me sustainability next margin. back year? Or into like the investments

Justin Ferrero

to -- maybe been have first going note but think well, important Those our that it's was been record higher have some in -- in my for around the will not I'll you non-GAAP measures. margin of that to the year. Those heard this I had all, go are higher Well, would to it that EBITDA discussions next a would we recur due clarified shifts even percentage us, even of away.

already there tailwind a will So be there.

as our get EBITDA comfort you in are at guide. I QX sustainable you look should margins our also that think

margin step-up to guiding at in And so we're million. another $X.X million EBITDA $XX.X to

and going in to a XXXX, Brent we with come give take want into nice we without that the year. year, the getting this tailwind time we spend to an it guide. the we up too of across expense next you're to results -- we that. million put as significant is us against with up out seeing as $XX And that are set go executed just annualized much which we effort organization, have we the 'XX But is very All into in So well.

David Larsen

Okay. I'll Congrats the in hop good on the back queue. EBITDA.

Operator

come next with Stanley. question our Craig will from Hettenbach Morgan And

Unknown Analyst

good This congrats good next on role. steps or luck is -- Brent Guys. new kind [ And to luck, the on the ]. and McCoy of Jeff,

kind Carelon. you've those seen saw kind Just know wanted to relationship talk some about you about if in of stabilize? I just PMPM with PMPMs And want earlier is pressure to year. going? that I talk of the how

also, as wanted of with then tracking how has line kind of expectations. kind I plus Sharecare+ engagement is again, if open to And in started and enrollment just going that's see up just

Jeffrey Arnold

Yes.

Everything I for I as answered we're expectations. think It's are of is have And we've become the have that segment believe tracking last we course. sites course. results it's of kind executing within on we lots the the Carelon story staying clients Provider the our Carelon things And same with Enterprise which got been kind great our and against, pursuing segment. that across reference opportunities us both of is stay we're current and question that the really good.

platform as emphasis of been The driving becoming Awareness is awareness this goes is which the more there's with at big mature brokers, year advocacy. a offers Sharecare+ growing on time on.

increase way up. we're we're the coming are the that having brokers so seeing number that in of door. kind RFPs in is And with The an the dialogue of

it's but business pull-through months We we we ago that X ultimately we But would We've seen finalist the had contract. say won at delays I finalist. this presentation found a some as like and were that one of week day, end that the decision-making, yes, yesterday seeing in out the usual. our did

Unknown Analyst

new what the means then Appreciate on more just company. for kind that. CEO Brent role And this of one and Great.

to you forward? experience guys Can programs at into. government how just Just about might and relationship curious, Centene looking you talked talk has are of about going grow that that Brent you that the help the kind

Jeffrey Arnold

Yes.

part just So the been like But this he from I at billion. works a the argue for us, success contributor massive Medicaid, I opportunity within initially state state on in huge time probably for have that for to another And next programs. long plans, index year, a has when the just we the about it's of it Sharecare, lot of And yesterday. And run benefit who's a Centene, being would XX state I but I and $XXX in as a today our us that to X I with stories had obviously, our come State to clients best community feel in a million I've best Medicaid like expert been might an within recruiting account. government-funded of would a think at of made person years, not as grew off a years say personally, strategy example. look Georgia for when Advantage. Brent finalist meeting is Board. the which Medicare team, growth Brent that think as We I Georgia, was big country kind The of kind whole well me a we'll I of the well-being unbelievable maybe for -- and be been think also just health kick about $XXX on

have Medicaid we today. We health state business plans. So do in

last already year. He's with view. Board on is We an for Medicare coming the of Brent And in have informed been million lives couple Advantage. a the

passion not for Rolodex to And a share vision do bringing how and team. but communities. the an well-being, we amazing to think improve he's for technologies we individuals, use a enabling only of I

working that him he's as the I witnessed that with about excited all doors growing, And XXXX super with especially us. of these on field programs. just Board we're think him opened personally us, speak and with in getting for within I've of government-funded a And I member

Operator

our will come Percher Eric Research. from And next question with Nephron

Eric Percher

full and question on year last to us answer time? maybe consumer? bids, review, is unsolicited. what considerations company Jeff, was made were for provider at look Or say for the that you could that that on they truly or there's to solicited when strategic I limitations back know limited in be we One can the you

Jeffrey Arnold

focus the sum The the primary was strategic of the review of parts.

during in so our the along And entire people had business, -- the focus sum conversations might of have we way it parts of was the strategic the but on the review. interest is

Eric Percher

for Okay. stopping And moment SEC just then a the on change.

items come. that? back I through impacted have line been to sure X over you look -- to and want walk Can make what crystal just as Justin, on we're clear the then can may months the we first guidance

Justin Ferrero

contract Yes. was two can in moved we It's items, going and there was But with up, models termed PCMH exited we've the areas. contract certainly the It then forward. line really help were leases. two were And term and you it that back you And lease fully again, the of exited the those year. as in about, throughout -- exited both and highly will contract QX. the know, talked all be disclosed. ended The especially these

no new into is below expense. reporting. this So back It's non-GAAP moved just the from being our line

better that in going news recur that the conversation we've are and of And later-stage pricing. good been to us XXXX. contract for in with to expenses And is these able reimagine none are

Eric Percher

And Okay. think on clear segmentation. turning well, then to the just I that.

bit state is? that of growth? talked macro Sciences and current us the You affairs Life a sequential little Has business you there what Or can returned on to pressure. about give the

Justin Ferrero

grew resilient year been of a in that all, nicely tough We incredibly QX And has. from It first division QX. market. to this has

maybe start So well. They've very there. I done

there. sequentially. digits. QX. down And you know, the QX sequentially XX%-plus we aren't higher. market that year-over-year slightly again, to We But And still often whereas expect number down a like is XX% even tough market wanted grew growth all We about -- double we is just it's out a -- is from as

have to somewhat will conservative want still. tough a is growth We because in market QX. be we it just definitely So

Eric Percher

marketplace? Do that you believe you're gaining share in

Justin Ferrero

QX, get It's then our the assets grow in well, more our and why we is because is and buy-ups and get QX very over and the year. perform better programs reason the We why share. we our We do. reason QX QX which we performed that the of back think half

Eric Percher

segment then the you growth is the last other us for just one there? maybe the levels And segments. give detail a Can

Justin Ferrero

single -- will be Enterprise digits it so about sequentially. XX% will our business down will then Provider The Yes. slightly be be up so --

Eric Percher

When just we you talking you are saw? say will quarter about -- the

Justin Ferrero

Yes, comes out, when just all. -- quarter the you'll see Q the it Yes.

Eric Percher

where saw. we Right. assume were And no for just we quarter I the specific on roughly That's sort commentary QX? of

Justin Ferrero

no just No, comment. that And that we're our margin the, Other specific reiterate than EBITDA we headwind the additional presented. expense even I to record of a call want in guide EBITDA it, adding guide, measures, going in to another QX. with to our non-GAAP have

Operator

our with Richard Genuity. And come next from will question Close Canaccord

Richard Close

Yes.

Just the respect be are to with change, want historical to clear Just SEC restated? there. non-GAAP the numbers

Justin Ferrero

tables it's It not the -- a There is updating restatement. year-over-year.

the but only And And out, we the not same of for we you lay so all is footnotes, half well. the for if answer the XXXX do look into it year, this first yes. as

Richard Close

should double-digit in I Okay. double-digit about David's those the January, Is see think of year, in you're wins And the number earlier than some is like response about in of quarter. you or, How in, saw you question, then come And it this talked number year-over-year? to lives to significant with respect guess, January? of so we the wins third -- we'll the thinking lives that greater lives wins? launch

Jeffrey Arnold

Yes.

there'll yesterday the would well. we is a in always But I we We'll do. example, have out like year X/X this start. half I we starts imagine the is And year. the be And the we some the X/X Jeff. Richard, of think won as like, close have account XX/X as starts majority -- first for

yes, a And so see our it, starts half covered feel in from growth in line with year, front then lot you'll throughout we're And loaded. into the we lives 'XX. but like 'XX of

Richard Close

are to Sharecare+ or be basic just those clear, the Sharecare, platform? And

Jeffrey Arnold

Yes. It's mix. a mix. It's a

we're the in So of space accounts, competitors our -- we're with accounts. We we're one still to wellness had selling merge and a the win new Sharecare+ continuing TPA.

the side, expand good us has provider so tailwinds momentum given some wellness because business that a part that's TPA good -- which us given of we land -- on us love and a some it being stand-alone being gives of So the opportunity. that

Richard Close

all the to employer respect management there on market? managed at you care any market would see focusing -- the deemphasizing be thoughts any Okay. helpful. expect any the do With more transition, and Or

Jeffrey Arnold

No.

The is pure I think has incredible -- market as and like member exchange in the but -- side, joining side. to offense definitely payer team employer the the And the I this opportunity, I well. Board in of is Brent's is going strengths us side upside think, bring be move. a lot said, a an there as on sees informed benefit MCL and obviously the

-- yes. so And

no. So, anything. not deemphasizing We're

payer just on I we'll going it's to to to us hard to be allow to employer aggressive business. think more win but the side, continue really work

Richard Close

That With that, discussion into helpful. little would you on the can respect that detail a more bit looking to go care, exactly the front? would more value-based at what you be be doing on

Jeffrey Arnold

Yes.

overall technology is management if risk is basically, about our think what a you platform. is Sharecare So

clients and of medical data clients it's and claims them and we data. And and and could data a data working Sharecare And record of where some our impact. how with risk at at services with populations we those and their in-home percentages and have one better data certain have our manage ways looking GLP-Xs tons And SDOH whether out manage so self-reported we could we're it's technology, a and of can the to with data, or clients, think lot of programs, sitting how device we're go we examples, using that them. from the can they with financial data get figure of benefits alignment is just that risk we're

the go that we're but to the do some in you'll more a of opportunities measured so we're see have to charge the going of of going to And clients upside not going our on certain to approach. based we're on XXXX, risk, carve-outs coming from And very meaning where PMPMs some populations, for savings. our that these get traditional in

want good to so is some but wanted in have really lines. we get on be we've dollars And get bigger certain And and can which our with confidence to able we where and think one populations then better where XXXX to to participate alignment data we of have impact. think have you're the carve-outs to going we trend in always we to to And in now basis see like financial forward, Sharecare this point, strategic clients. want going limited certain that we the greatest a needed

Richard Close

question. Final Okay.

in proposal that the any timeline you be Claritas us when by review, the can expect that complete? of On there is Board and to you provide terms

Jeffrey Arnold

as a Yes. I that timeline. firm to is But what don't quickly you tell I -- committed a we're possible. have working can as this through

had in lengthy we strategic particular, extremely a this Claritas example, know, fairly you is review in As informed. and

quarter, And We so to turning the wanted through fully CEO, through get attention this the to onboarded and new as we're working get Brent this. we to quickly. wanted we're our

Richard Close

And from share that executing precluded proposal going as review the All right. -- reviews on? and on you repurchase are

Jeffrey Arnold

have windows we're shares opportunity of could repurchase where We that we evaluating.

Operator

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

David Larsen

I sure wanted just to you Jeff, that correctly. heard make I

going I involved to the think be in of still activities you're day-to-day the business.

to going through the this with him. CEO guide You're work new and transition

right? So going you're anywhere, not

Jeffrey Arnold

that evangelizing, to I But going to that's on think where company help the clients development being product in I and active. on as and and I the the great very to bring can No. all the I Brent's business. things focus I'm plan know and going most, strategy

Operator

session. question-and-answer closing remarks. concludes to over the this any Jeff our to And turn back for I'd Arnold like conference

Jeffrey Arnold

to users, for we're are this the confident and our our Hope Board financial reiterate Well, and the working in Sharecare that to with delighted enhanced thank with And CEO. shareholders. our next great agreed has we deliver pleased future. today quarter. this customers very And respective In areas In as into Executive and role Brent closing, time my are that everybody I Sharecare's combining And him to become and I want you. you. your day. Take performance appreciate value looking Chairman, I'm to has interest care. we morning. forward expertise Thank of and continue a to

Operator

for now attending The Thank conference today's has presentation. concluded. you

now your may You lines. disconnect

Sharecare (SHCR) 9 Nov 232023 Q3 Earnings call transcript