INNV - Earnings call transcript Q4 2018

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Operator

Good afternoon, and thank you everyone for joining us today. My name is Gary, and I am assisting the company with its Investor Relations call. Please note, this event is being recorded. With me today from Innovus are, President and Chief Executive Officer, Dr. Bassam Damaj; Executive Vice President, Corporate Development and General Counsel, Mr. President Financial Vice Mr. and Berholtz; and Officer, Chief Randy Ryan Selhorn.

questions. XXXX, management During Fourth brief XX, the provide remainder will will roadmap on that overview ahead. and the covered provide Safe and open conference up Litigation call, corporate for then Quarter well update certain a is of December of products the the a of everyone in Reform remind an discussed We'll the provide I'd pipeline. today's discuss under to overview brief financial as progress the Harbor Ended today's Management the statements XXXX call provision as Act. information like also Private line the of company's Securities of

at forward-looking During the and plans today's the of the products of outlicensing approval Pharma company's products statements expectations reserves recent revenues, are based the product results use the cash the for These most performance such also affect candidates, product and future timing candidates, Innovus including for on actual The events Bassam company's accessed as fiscal risks and December Pharma's today company, timing of this results including launch of Form and Forms XX, and outcomes Innovus the will ended and the release conference could the of Form Dr. financial or development, be was filings the upon I the released these Damaj. expected and of for acquiring call, the may pipeline. future filed fourth website can that, future the reports call Please other annual financial by management www.innovuspharma.com. expectations be the XXXX the the certain products, quarterly today. fiscal and related results turn Damaj? company's additional business Securities to of with of making and refer regarding Dr. Such and Exchange S-I on year company's development Commission, regarding and source to XX-K materially. launches, Pharmaceuticals' company's statements on statements can company business. objectives and commercial discussions the With XX-K current website. amount press was earlier found predictions around process SEC with documents trial the and quarter XX-Q to that now product over differ for year and will clinical XXXX regulatory the Innovus be

Bassam Damaj

good afternoon, for everyone thank and us Thank and joining you, today. you Gary

performance discuss we As of the our fiscal fourth quarter the during business and year.

things. XXXX. very also As from by week decreasing ago our year we expenses about revenues a was is our product One, were four to as revenue on sales highest print the and to we achieve of able platform optimizing our quarter. were marketing investment we our XX%. outlets. a of X.X our goal and from gross And percentage as which able times the And we sales by this we to exciting our $XX margin our for able to reduce fourth million for our Innovus XXXX media achieved revenues, in marketing to announced for were loss increase stated And and doing return operations

Second, new adding successful additional products.

by products. Canada. expanding for adding Fourth, sales. extending new in our our marketing online our sales and sales fifth Third, channels And

call details into over strides corporate like work we goal to and Ryan. as before I to and continue business and discussion to I towards make turn go sustained fast my growth continue profitability. performance, our on significant And would our of We and the

financial discuss can our results. he Ryan? So

Ryan Selhorn

Bassam. you, Thank

million $XXX,XXX, that in fourth revenue It worth NASDAQ. or market and started $XX in the X.X in the both compared beyond. was noting increase. million previous and we XXXX in million growth $XX $X.X same year, trajectory And with growth. compared annual OTC impressive our million and other the our to $X.X continue growth the to all XXXX and in to million, measures XXXX million, our is times increased $X.X the mentioned, previous traded of in by is we a And XXXX. year $X.X XXXX XXXX to with on to which $X.X revenues was Bassam cap XXX% to XXXX generating As for with quarter revenue many quarter expect million an compared companies space, This publically same in

operating in our specific for our results the to geographic revenue demographic by quarterly reduced return growth quarter, During media highest targets. and we defining improve print outlets fourth firstly products our

Our revenue UriVarx, FlutiCare, Apeaz, have defined ProstaGorx by $X as which Diabasense, on annually, our driven a growth rate $X we including to continues or over generating which million Sensum. achieve Vesele, core products, run product are annually, to million be and

and Trexar for for enhanced eye increase as redness. allowing in endurance muscle XXXX all aid and HealthiFeet and in and a soreness, Additionally, expect fiber as Boston Rx ThermoMax, activity. mass, eight muscle including our oil, the Octiq least Ride developed we that sleeping at are as for acquired MZS to first excited beyond and products THC-free longer products, to sensation, Regenerum to with we Musclin sleeping Topicals Hemp-Derived December muscle new XXXX BreastLift well launch from internally lubricant [ph] intense more increase for exercise

the quarter the to from approximately our revenue fourth we in During continue bringing product approximately generated Canadian to XX%. Canada, market product XX% sales Canada annual fourth quarter of into with expand

market to Canada we've As during by have quarter, continue XX and the we now intend announced first Health to there. approved products

In and us for expand patient larger promote our allowing Health a potentially our to to population. addition, approved indications, with branding, additional products Canada, add we're working

revenues, business, very monthly profitable to shipping. customers, our company of of Moving the shipments product and cost is to monthly a our auto cost to subscription of is the defined discuss which this only our as the channel the the is by products

increasing keep subscription to bottom monthly to our levels line. profits to add is goal to Our our

recognizing grow XX% quarter a fourth to of Our $X.X the $XXX,XXX. subscription sales, in from million channel increase previous quarter the continued in

the Our rate million was year, revenue million annual total of $X.X previous an in XX%. with annual growth subscription $X.X compared

on We usage continue with purchasing. consistent and to ways to products our experience improve to customers our encourage focus more

margin over previous for for year sales gross increase year’s of product an the XX%. rate Our XX.X%, the was

the We the Sales work percentage revenue to XX.X% fulfillment net marketing efficiencies with previous XX.X% a year. as continue we of as expenses sales as a the XX.X% XX.X% diversify find percentage marketing in to in quarter, quarter the XXXX. compared the revenue quarter, was will in channels our for shortly. compared to XX.X% revenue expenses in the to of and as in previous our decreased in and fourth expenses, discuss year especially comparable Bassam And net and

to our the profitability. for and As we is this us goal the marketing discussed, generate new to help sales identify primary reduce to a of will ways previously achieve sales, expenses focus business which

proprietary able will U.S. marketing we using significant our marketing products our this beyond now the sales print using effectiveness are and marketing by to gather to the new for of our amount our data in launch for to strongest we current this in spends. Canada human the and of proprietary the Throughout of platform and have We spend systematically optimize XXXX, products. spend produce accomplish data both on a been and marketing return regarding

and introduce the continued Additionally, expenses to growth for administrative and a the them subscription XX.X% keep with in to reps percentage direct in with compared products to the and for works platform we our them on recognized year. in from year the is customers instrumental makes which to subscriptions platform, avenue and consumer customers, have the The without large of repeat includes results. the marketing XX.X% launched a personal longer for revenue us the new their the spend General net media. optimistic a concierge previous new assigns future service, which this was as need revenue

first during December not expenses million compared rise administrative an expense. the now our believe towards we've amortization, million, on our focus on significantly $X.X experienced third to direction our quarter, were XX, quarters continued future we for and on to with profitability maintain previous moving compared includes in profitability. the by growth previous feel organization. happy the to right improvement $X.XX having quarter non-cash revenue We despite while that $XXX,XXX we general calls as with and ended was XXXX general consistent Loss loss quarter in As we to we're non-cash in from million the which from with in operations have revenues stock-based of and reducing administrative depreciation quarter growth compensation, the team three operations in see the We will mentioned, compared items. and future expect $X.X $XXX,XXX established months within and a do fourth believe the

remains million usage critical right by a -- XXXX. XXXX, within from XX, approximately at compared December cash the necessary manufacturers. our is ordering quarter during time, the ended units For of third advantage and in critical the the three the while optimal ideally the $X.X operations appropriate remains inventory with taking most management the pricing management months used focused $XXX,XXX we organization from driven of of Cash on

processors cash Lastly, with call to by merchant of at assets will in back a other an that, of our I are approximately total which balances turn $X.X cash million additional With $XXX,XXX, current million. March XX, record held for we currently XXXX $X.X our the Bassam.

Bassam Damaj

Ryan. you, Thank

revenues from the X.X that proud growth sold XXXX times expansion over Canada XXXX. that And increase products very XX our in countries the additional XX our to are to capabilities in U.S. will We and our and of report nearly not. of growth to and product commercial with in

self-sustaining happy high revenue as need as something we we am is did relatively possible. long are value reach achieved, consistent and profitable achieve true order this With yet, profitability happy Although with national that and do to need we strong the growth I the be not company four the have to things. by a fast we to a to not run, we the of will reasonably soon recognize uplisting the in and main in as exchange, growth be margins as company,

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are our we growing I like To focused manner. this effort. most on to As the would three Ryan so on do elaborate of described, laser revenues in main efficient pillars

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new adding is pillar third channels. revenue The

to large is revenue. number our of is company print proprietary large to big The in of where a and Add across growing and patented to to of [indiscernible] for marketing. lot generate potential Now a be we of to for our company, by channels, we The significant a demand our as branded large pillar EBITDA although the get presence are validated faster. that a the by add major products to we the company. focus ingredients -- brand and marketing is label expanding adding products a costs complement private other a of employed type globe profitability platform able and the demand fraction clinically are a looking channels as revenue number source cost marketing and direct non-costly new us companies pharma their profit forth costs they second supplement Those in the should look are some believe This to online contribute or high there our strategy and and known to expect not without start that using them of of that marketplaces. and the for a companies revenues of become to ingredient. revenues do our now our is our as has

spend presence, Prime have stores lifting bring to And revenues, sell just online will launch we have and seeing on us a more platforms. private acquiring like. brands allowing services not the also Supplement we been costs. our established more The costs, online we new marketing as developed parties platforms that being our few products the experiencing party across Effect, saving this through revenues us now Muscle revenue current and globe, Supplement without and SlimFast, like our stores, a Hunt but we the products, as Now such generating to have will add offering by the Hunt. on platform, marketplace of our large Asian very and we to the large third where expand Saving the allow Vega need our such on generate third which And

company on six are point all the focused from achieving efforts discussion So home fold. my and today take goals are these the currently of the

continue expect grow consistent beyond. we and for [indiscernible] significant we and revenue XXXX First, now year-over-year, to which to

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of the important for for larger this And potential of XX.X%. means the margins, achieve were Second, having margins any more is And the because any the for company. company. able is XX% gross us, specifically a achievement gross high to great XX.XX% by margins we product very profit

have and growing Third, product an exceptional proprietary we pipeline.

As Capital you uplist add we to grow, the to to a NASDA both market up, have very requirements are how we U.S. as continuing listing of markets, said coming list territories to have expect is products this we that working I our Four, as additional soon new our we as to strong application and we in the before, pipeline ship initial units the meet to new the NASDAQ potentially the continues grow of to seen continue number we to we grow channels, the we in and have met. and company. continue the filed on we growth mentioned with as are as Market those requirements NASDAQ have

is specific that focused only only on spending our focus this returns and price we on in here are first of yield for the have our that on at we’ll selling from shareholder. us marketing dollars the will a get in cannot take responding for you marketing we point by the are focused add return I this six, product an open channels and us lot I we dollars. the this will not we are from potentially a shareholders will And in be there channels of to your our long Amazon? We the it amount We channels products those line channels interest EBITDA I'll why do to us And rewarding doing shareholders, thank know them of paid our of only pay to high that laser that, now of we to right require its be for potentially history path And doing the are this? We which product, stay our you and know email. follow disclose the by on for Why spending to we Operator? EBITDA this by been time spin-off keep what information. think high add a now dividend. lot profitability. telling with profitability. products is take always support then dividend you marketing to channels us. to a where yielding this, and Why your companies to important and and and able aren't that high why is questions dollars of And a you and lot continued And And channel? this company. to And shareholders non-core And product on if long execute I is to phone have again, very Innovus a It of list the a shareholders of questions analysts. time. with received for would being are

Operator

the question-and-answer session. begin Zacks. now [Operator question Senko first will ahead. with Instructions] from We go comes Our Please Beth

Beth Senko

wondering Question, marketing about play hear expense overall looks media U.S. Canada. break looks points XX% me. for it XXX Hi, guys. echo can quarter in on basis here. marketing strictly a It's the by hope the it sales expense I little just and you the can sales you the in measured to to if dropped I'm about versus that or quarter, how out ratio, like

think Canada Canadian I I'm if you U.S. last U.S. better in the wondering much trend more is much just market? we MER how a on the of has as just could the the drop that spoke got and comment sales and quarter, than

Ryan Selhorn

that expense drop a did absolutely question are marketing you and the correct overall. That’s great and Beth. sales Thanks,

to So is that. say from Canadian to XX% be market tends market see XX% than in terms ratio. media -- of And, you, so breaking the it to we anywhere the better a continue from out U.S. efficiency I’d for

media on change that ratios, some providing also, is we efficiency specifically focused the newspapers we’ll Canada. kind So as magazines within United of States percentage and continue the that. to do increasing we reduction us with mentioned, certain to of in and from the and are better overall the But we've

well Canada. little expanding a both the strategy combination into as improvement further a as the U.S. of of bit there's So on

Beth Senko

good. Okay,

entirely have as your quarter used Second you marketing question direct is or at marketing marketing? and part a to recently big mail direct as on of far direct expense, XXXX, like postal of be least dropped just then second it

Ryan Selhorn

point. good another so No,

and a the fourth of mail. So attention to do slow a mail primary direct of quarters. very the the it did in well compared of -- direct ours is significantly our down bit in focus A little still quarter, what we done has We in we've lot mail direct previous a implemented. the to I bit end by of the campaign. with moving optimize year will do mail we've the can that use that returns But into quite of future, you some been and tell those to pretty from as campaign consistent strategy they're of kind continue we direct a to able we

So we always get. know to what we're going

Bassam Damaj

I think consecutive think here important to Beth, doing like been also for I'd now we've it's interject, that maybe I this years. three

the when is the or know launch newspapers we and actually direct do So year-end postage, the is in is campaign to a time to good best the that. it time not a whether in

not learned now us, to see mean. on we do spend ex-holiday, of respond you we have time, tend three choose we when so I years hard prepare So, versus know on will and good newspapers, behind way, will the ahead a know companies now what we that

-- actually we spending expensive is a spend platform that is we dollars -- this know we don't making but at we time be not that different the should So, marketing need this where that to now campaign, time. coming at have at more efficient,

Beth Senko

everybody say the that go is -- quarter I to note, make then better. when their time ahead. lives and going to So historically was first wants on

wondering when should I'm assume we particular first in a earnings. that be the that occurred on expect we should report you large I And big if up are quarter any should there spend. marketing the have sequentially campaigns lookout So step for in

Bassam Damaj

is are is efficiency we point, to a and numbers and out. as we goal move experiencing potentially as the MERs order higher profitability. said, to enough to Maybe we main start main really our put G&A and not profit our -- keep But growth, generating here, company's that our although to expenses we’ll separate and in when goal we just see the revenue increase to cover

do. a we I double $XX grow, as before million, my making can to not be goal call, previous is able growth. to $XX So and million to am something revenues But looking I my but be mentioned in to profitable to

So January beginning campaigns. for course, you campaigns and we start to time the in are the new campaigns, so there of campaign actually efficient the are actually did that are we mentioned, good but February the of and us. new several quite started, as high very because order a actually bit year, not those return And of

Beth Senko

to write Okay. course, this is sort Because both related if of on the to inventory potential related sheet doesn't other option, much at Last that products? balance to two look One, spin-off spin-off. non-core we cash. I were is of business your the inventory? guess, questions, down these work How of just

Ryan Selhorn

Sure. Yes.

So…

Beth Senko

I know it's...

Ryan Selhorn

No, that's quite all right.

balance an from that So really as the have significant inventory the we are sheet non-core $X.X don't that products of standpoint, on that think the we to million year-end.

that core not they're So, material compared to our products.

Beth Senko

in sheet? $X.X or Okay, guess good. And million balance the $X.X then $X.X million, got on lastly, I I cash can't number you've remember the million,

Ryan Selhorn

correct. Correct,

Beth Senko

to when Yes. do do need going to guidance enough? financing, Is the us some when -- that's another just mean, to to you're trough? give going have a back go you one, that you you I can to

Bassam Damaj

right I XX-K now, basically… a chance mean, you and our to it's I focus you our is -- think probably important we filed just see don't Beth, I if that to here, had it, note but know,

Beth Senko

No.

Bassam Damaj

actually cash In in is looks to there -- want mentioned revenues for cash, at Again, production order my looked actually liquidity by and way uplist going that the call NASDAQ, to on the from understand no there in NASDAQ. concern whether the have specific to shareholder cover and is been enough will equity important and company's to the we that to market uplist the it liquidity, different are expenses. But the has company I than requirement the specific we NASDAQ coming cash means as has other have there markets. on or to which

the account we to into in another raise not to need So, need see not to requirements what bring those required NASDAQ cash and to week market last meet to some always down tries the something requirements and want happened scene order requirement we would the about certain we to do I raise actually listing. meet stock what initial that like that This take makers uplist is need that think Because to will to what with is and really NASDAQ. to -- $X.XX. that capital

Beth Senko

Okay. would debt, debt And this any which or you equity, convertible away you meetings with from investors get which is rightfully had expensive? preliminary have either

Bassam Damaj

note. should non-convertible, that are take are not mostly So mean, are mentioned, monthly a great really out. or company OTC we we will do non-secured, them. not the history companies. we the the either non-convertible lot actually raise. And The times, as paid And does company I invest management same is six if convertible an at there is not great decision, of time the you've be that it funds, funds the have but settle those payments. now that to with there believe in equity with the debt clear a have traded this But have decides or we any is a there difficult to uplisting maybe be note cannot whether as we out off in relationship have we for

NASDAQ. be without done not raising equity will go We to an any an in and needs conjunction with do uplisting raise to uplisting, a of

Beth Senko

it. Got

thank so Okay, you much.

Bassam Damaj

go No problem. ahead. And

Operator

management on questions turn to would like over submitted previously the for further I conference the no back Showing some phone. to questions.

Bassam Damaj

you, you. Thank Gary. Thank

through And was I questions I here, to think several I would the shareholders received pages like we've of from them. So like, actually, actually. go

try us. of most your answering you send is -- and all and to the As we believe we way questions that efficient do always this

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answers to this. go into will So not more we

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the every during the note compensation And please vote there last addition, a the from of on company majority the In on received three the management vote shareholder years. that pay. is vote

So to I'm did approve not that. that actually got question a shareholders not the clear where you

ways it's proprietary I future The sales certainly to see that where breakeven the you So the pretty reach forward last not please of disclose, to able questions. if this can job a regards will to you company, do questions in your this can be annual information we is those at think to words the CEO is to such us sales? present that and Directors do that with something if company, what better from point be this our filings. but do part definitely so take important you you will coming you are running actually last be you believe honestly, of will is I that faster can type average other that's time profitability to entertain in happy the present to than better question and getting the would of more our current than I come plan, Board to frustrated Innovus how I'm that. profitability run

something is at not will this this we that time. So disclose

from did between the the Canada The analyst by think when contact question. actually Zacks a a days. the can one to on And sell U.S.? I Beth and the believe reverse actually the symbol XX I that last split glitch from Zacks. actually the ago? we've received, have that return the system that few their question we And why it We system. to moved corrected covered you was after discuss Zacks downgraded question How for from again, the in investment for that days of INNV was I that. last is And actually from you already INNVV

glitch So -- we time. a have not that unfortunately at computer been downgraded This was that's happened that Zacks. by

forward continuous to the this with update I your I on for end support. have is much great you have. we continued towards a and would we Thank like our hopefully company our the that and you this for So Again, believe you year. of very questions to look this, profitability efforts And thank the growth again day.

Operator

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

disconnect. may now You

InnovAge Holding (INNV) 2 Apr 192018 Q4 Earnings call transcript