NTN - Earnings call transcript Q3 2018 | Eterna Therapeutics Inc.

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Operator

Good afternoon. My name is Kenzie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Q3 2018 NTN Buzztime, Inc., Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. you. Thank Instructions] [Operator LHA, begin from conference. you Chapman your may Kirsten

Kirsten Chapman

webcast. for afternoon. today XXXX Thank and Good you results joining call quarter you, Kenzie. third Thank us Buzztime's for conference NTN

and Joining CFO, remarks, us will call the questions. open CEO, today Ram we Allen After the are Wolff. prepared for Krishnan;

any to in update this required is undertakes related revenue – payment based more with others and revise to obligation call Wild intellectual based company's new as other expressed Before with or expectations, facilities fully the relationship and risks, SEC ownership statements subject about from and any that other this conference rapidly current and future enforcement be forward-looking adoption competitive our customer platform under the Buffalo and any nature the services; factors by call, to that we plans. results differ acceptance uncertainties remind satisfy except uncertainties implied to may Company's or described information management Such in materially improve and products, to and any during streams to let and that me of technology; comply are projections of or known historical Company include, property results expectations consumer for unknown interactive changing introduce around our with and publicly and The and make forward-looking the on consumer Wings; entertainment reason. or begin, not during game to the statements the call. the risks credit results ability or but cause you our obligations filings. industry; conference successfully forward-looking and of ability no actual or to law, to, and our may other games Potential maintain results covenants cause statements financial statements Company's actual growth Avid are different the Bank, ability the the limited materially

Ram Now it go is my ahead, Ram. pleasure to CEO, turn call Krishnan. Please to the

Ram Krishnan

Thanks, Kirsten.

in jump third transforming our today. our with key performance right progress pleased results Let's showing I'm from initiatives for the and very Company. quarter

the of growth and million net thus positive new the $XXX,XXX a EBITDA. initiatives, far space. first very This time income, and has the for of strategy, growth year. XXXX; of from included partner jail the delivery of came XX.X%; since our our stemming Some of a fiscal us, for of strong tablets revenue Much been strong including to highlights diversification $X.X in from is quarter

to For new technology market. in future we're the our growth, continuing invest advancing platform offerings bringing and to

Let's get a areas. of few those into

at and months, the spacing point-of-sale directly in integration, get food let's six capabilities order market customers, and our consumers including Wings. Buffalo in order are of and well, restaurants. software The payment. ordering the to Wild those into First, and hardware past payment at been running payment guest number a performing services We've offering

customers of to outstanding number the when tables an turns Some our and we've pays XX% a on average faster tablet, increase include cover seen results labor Board rising busy industry. across guest allows landscape our current table the a struggling costs they that they in affecting important times. restaurant during can more are our the cover Both with staff. of And are same of tables

order Orlando, service we in Show quick the Foodservice recently also and mode that flow at into fast a exhibited and the launched have We casual one payment that Florida. combines Technology

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Buffalo XX,XXX did have Wings we purchase tablets. quarters. However, and the last expect deploy and Wild of year, top-of-the-line our the for next remaining into few to prepay the some, deployed over payment They stores

ordering a and service end the services the agreement expect master We expires. through general are We contacted Back secure corporate new our concepts a did XXXX couple to tablet when entertainment and with of payment. One to of talks continue and the was tablets. We're in cinema pizza on store a quarter. payment in for grocery also a other chain ordering our pilot and a for concept. the court food chain food

us form positive, factor casual model investing and our in positioned is ability been provides to an distinct The platform well we it response a kiosks. and and give this to fast in QSR has fit mobile to to Our specifically mode provide feel and our new some and expanding spend direction, that a for truly on our optionality the that's want And we've of entertainment for factor I delivery. and plant in what time overall the platform flexible needs platform. form built, market. highly alternative

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lighter-sized relatively cost service. With of deliver deliver I the entry-level our offering In to audience, are And few lighter our can give a think tablet a an market to opportunities, to we can offer entering a that multiplayer $XXX lot option, to to of for month. to a that we improving the with enable to past be In due when were in of culminate services translates TVs we our multiple solution offering. lot this Frankly, – our analyzing robust challenges to in less of about have more their focus the perceived we began high proven before. modernizing years, experience, start been our our equipment entertainment Therefore, as other positive customers QX was into installation price. that build an XXXX, deploy value. set We using XX% seen effort to acquiring Buzztime sales very get While impact share mentioned customers release the and platform products with pipeline, new these of achieve has on as from give powerful, expertise we This believe to and and our our of results payment Lately, of venue, equipment time parts time, an we and a market, risk. like all must price entry real-time our platform. adding our our $XX field entry-level and expect chance number believe the entry-level them locations. the There we launched core first solutions achieve ranging positive tablets capabilities. price repeatedly requires have monthly prices a XXXX. to ranges it per product in heavy been believe we has one goal To and component. late

which internally of first The the refer we hub. element product, our is with site as to our brains

new QX of site form wiring QX. prior it's refining can our Our to the preparing and well longer The the our of running work gaming, requires and are the we've Android factor back site the of hub a in of hub leverages be to next At system We've affixed be no the of system, this fraction to the in manages cards, of runs been that needed content The experiences of QX a launch and hubs cabling done cost internally year. to the multiplayer and PC. real-time tablets. site We'll a about install and our it deck TV. are for size delivered. much and ensures run device currently all

of element is experience on second the our The TV.

games answers we guests, to they questions, Our players The enabling for. to venue, the are leaderboards in and and locations. typically there's our small directly ads. screens find shown screens displayed amassed TV can following, we're can famous inside serves groups of of something strong are each to creating communicate in on experience that us When social play a deliver around also there's

begin on our Apple be display we your its and Roku the multiple types possibilities experience the game purpose. will the increase either is enough TV start, element be element and you advertisers, create its We'll that TV Basically, deliver or excited devices, do will content we're on we the to on own partners. behalf content display display our We here. and to enhancing The about of for enabling scheduling are incorporating game apps content other schedule revamping flexible you to something to or Buzztime and but value TV can't procure device. also our platform broadening to content of of

Players advantage to game interactivity entertainment audiences. play to register us over with mobile believe along giving a the The on guests and verifying is providers. our element focus connected be truly of content our third our stay experience. enabling content data, We significant us to screens, those other our with and continues

two Trivia and distinct advantage in leveraging are this applying We Mobile this two Mobile areas: to mobile Live. and

Trivia. Mobile First,

play national participate are our version mobile on We you our own network of allows device. your network competitions to our launching in and mobile that trivia a in

system. to a meaning will device, mobile alongside continue be need will site venue play hub to and We new to you in display venue-focused, on be our your

to beta end this iOS We are and Android have hope progress and version of both by of year. making a

Live and or advances held a a like game. questions restaurant. They're of Mobile usually weekly the like more location events They host, driven Live are experience the game on tied and product place that entirely event pace take by at or is the fundraiser, location. at one the one-time a and a to runs inside specific is location, a who Our time a be day, can event-based. pub

and impressions and paper, more experience know Our by Mobile who's playing. customers Live event game and our the actually lets registrations pen replacing providing improves

promotions. for cash XXXX, analysis are and winners In addition month, various the legal of we in forms we've the local games almost of and After to of engagement which been have December one countdown to of through January. every launch a we majority plan completing run prize platform, pace sweepstakes. regulations, entertainment own increasing regional our our our our In of

in the Saturday chance will a will qualify. targeting are their this We for have the game score the nation money night that real skill. slot and top earn In case, to Tuesday

this us excited experience more and the scale to entry-level are larger upgrades to and We believe the significantly that into offerings, element very to to lower demand, new package our before. including enhance our entry, before. audience potential, lead offering like build locations our our locations solution an can helps of play, we've effectively ways lighter these We we costs unique with in and to price address to our places in get TV an to something Lower never value that place improve we getting our and believe Further, believe players will capabilities, easily markets. content each ability for cost venues. will that needs in content lower content had mobile new the translate we its to adjacent going. third-party equation, Consequently, will more broaden believe of combined and to tablets. the increase not more with mobile downloads expand can audience integrate as offering we through our develop the give market We

is launch, in diversification on to content platform our licensing to to seeing interest, Along two but hardware QX we're up continues prospects. our cross-functionally good of and the are offering details, working gearing We goal and our areas momentum generate way, and our do so. a the strategy: are have we

license content. First,

and momentum a gaining which quarter-over-quarter. built Our nice – Scientific sold is increasing Games is a has relationship backlog,

that the begin as deplete a and deploying this we're by our continuing customers. Scientific revenue other that to plans time bundled will our convert in follow-on interest from and second in some units year. There for of and We released already hardware building in recognize third of product will so hardware game our the good orders are which opportunities interest. first They'll are recognize one ours To opportunity delivered here, culminated XXXX the pipeline Games We're from QX. model of perspective, revenue can our with these Scientific expecting those a pleased in take recurring six longer revenue. the installed, to prospects, that batch. jail Games after everything both the device to In is management our and expect to is install. hardware sales. we software games, and months or it first in with several content, to them working end gain has some for fully meantime, put this so Our our are of are on revenue from QX, a towards hardware partner services. a the they to offerings, excess are shared other mobile and or were order initiatives taking solutions $X Shifting to million. We have a

to over walk-through. the into Now I'll back it our Allen detail more Wolff, on hand CFO, go to financial

Allen Wolff

Thank you, Ram.

revenue quarter were equipment third revenue investment $X XXXX, has the We of from million other offset XXXX, The hardware created grew the subscription growth partially in our lower the million for believe by XX.X% increases third sales. revenue. Company. opportunities to and driven of for For in additional quarter $X.X by equipment

sites add at X,XXX site the X,XXX of to tablet platform, continue sites to to count compared end decline quarter. we last BEOND on While the did total

developing our options. As capital and is focus and on offer light and various solutions discussed, that potential Ram new customers releasing legacy mobile

million of million the Direct in with quarter were the quarter. quarter in compared by in to gross of in margin million expenses impacted from year gross $X.X resulted cost prior $X.X compared a down margin XX% equipment and year third were to XX% Third revenue. $X.X This greater the the costs million, $X.X period. direct XXXX. associated SG&A costs prior were

of call. full-time from business. We employees, earnings expense Currently, of continue we our down quarter the the at have to the time optimize side second XX XX

a year for anticipate forward, with of year target we $XX.X Looking closing and expenses approximately approximately of million SG&A calendar the XXXX. $XX.X million the

the share positive XXXX. improvement be quarter the for of or loss. $XXX,XXX quarter, of net net income $XXX,XXX an XXXX the loss since We income $X.XX share, in For third to first EBITDA $XXX,XXX positive. of was $X.XX per or time a the reported from third per continues

EBITDA in million quarter Third of $XXX,XXX than prior more double the EBITDA quarter. $X.X the was of year

and pleased $X first we EBITDA positive quarterly to for our XX execution EBITDA consistent in during Our results consecutive delivered has the quarters, time exceed are million for tenure.

XXXX, flow cash anticipate million $X.X for EBITDA were reductions year was each positive Year-to-date operations flow we XXXX. XXXX. prior a We cash maintaining period. six-month $XXX,XXX. be total further early $X.X into equipment cash for compared to from negative excess Site $X.X million of to $XXX,XXX year-end quarter in negative XX QX decreased cash installed and compared in the the in September was further anticipate million to Looking ahead equivalents million trailing of at change do million. in $X quarter-end. with at and at Cash Year-to-date $X.X

million of long-term. September from due capital million, to debt to was our XXXX primary working $X year-end As approximately $X a reclassification improvement of XX,

the quarter-end, cash On schedule, a with longer million refinancing or over the banking our to we Bank side, commensurate closed Bank. and lower provided $XX,XXX East usage East $X Avid our The new Bank replace West therefore term-loan per with approximately months months XX West Bank, Avid with than loan relationship by will XX amortize month. a who

pipeline. closing cash over the in we now turn remarks. have I Ram for support Avid better the have upon our based reducing call monthly opportunities believe back to we Bank to addition his with the will In for requirements, financial company positioned we our

Ram Krishnan

Thanks, Allen.

approach strategic of a the strong several year, for we year-to-date last few years, our Company momentum year. after continue to to the of fiscal and For culmination transforming correction the a new been we've years This significant our business. to close and the readying expect with investment,

and in with excited we're of for audience airline follow much mobile number past. hotel We and forward in had a this and rooms, improvements opening and product completing possibilities future we've light doors gain possibilities create line capital flexibility we'll larger giving before. and positioning such product a With software updates have faster in that these hardware, and platform, questions. theaters with about already platform the tests. Our We're new now us shape. areas Operator, We're more to take are as solution than a in open terminals, places that development new movie the the offerings the than market platform will We're before. seeing future look and unlike a us casinos, new to please testing, calls.

Operator

I telephone have questions our to time. the turn We Instructions] no back this at presenters. [Operator call

Ram Krishnan

Thank for forward us joining next talking our to today. all you. Thank will and call, which be you We Kenzie, thank year. to in you, look next you

Operator

call. concludes conference This today's

disconnect. You now may

Kirsten Chapman	MD and Principal, Lippert/Heilshorn & Associates, Inc.
Ram Krishnan	Chief Executive Officer and Director
Allen Wolff	Executive Vice President and Chief Financial Officer

Eterna Therapeutics (ERNA) 10 Nov 182018 Q3 Earnings call transcript