IMBI - Earnings call transcript Q4 2019

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Operator

Greetings and welcome to the iMedia Brands Fourth Quarter 2019 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions].

As a reminder, this conference is being recorded. to conference like host to now Mr. would turn over the your I Executive Brands. for Peterman, Officer Tim Chief iMedia Thank you.

You may begin.

Tim Peterman

CEO. Good for morning Brands joining. you This is everyone Tim Peterman, and thank iMedia

I $X I signing agreements would housekeeping Before of We QX as definitive this our million for transaction. release issued my release well into prepared as items. like cover a equity a go financing to few earlier morning recent earnings our remarks regarding the

you do may and website which it imediabrands.com. exhibits not News have website. of you These this also can these, section copy If through our the access a are morning were accessed filed X-Ks, through our at be to IR Form releases

available Eastern well through XX:XX the link for starting section at I via A be press today. XXth release, replay as as that also would to be remind April A.M. like replay in today’s the everyone of available on will webcast provided our also website. Relations will this Investor call

Some any update correct. These revise our statements be to of of subject and or speak reflected financial as that risks in assurance and call We this forward-looking date. forward-looking expectations significant to and during are no to any uncertainties. statements considered our statements prove performance reasonable, make forward-looking for reflect future are of operating We are obligation our no or expectations such forward-looking only believe these about will reason. the and expectations the but give undertake today’s statements we statements

release and filings. to the Safe additional statement refer today’s Harbor For SEC information, earnings in our please

release. call these GAAP The required make reconciliations the measures, references to included earnings to be comparable this such adjusted as EBITDA. about will information are our most Finally, including to within disclosed measures, non-GAAP measures we on

items complete. these With now housekeeping

guests, vendors, First to times, the safe. taking its necessary employees, and continues these in stressful step every terms COVID-XX keep focused iMedia and foremost, be their of customers, families and uncertain situation to on and

also to and performance, cover QX our the focused liquidity as continuing to for provide strategic our Float on value viewership Left acquisitions important operational would QX of and a our from they the successes, financing to strengthening we to today. feel like our love, customers fortunate from million challenging we remain are as There with today many services updates our are our relevant build $X to transaction announced our I Interactive equity We very J.W. Hulme revenue and continue timely resulting products and of shareholders. company

In calendar ISOMERS and Victoria Health, a our started. So and performances Invicta innovative Beauty. Watches, like Beaute Mackenzie-Childs enjoyed let's customers new strong Consult programming Wieck Jewelry, from Home, QX, biggest get that our included brands Waterford

Beauty, Body, also talk Cattle up and Bear GreenMD and the Heather new We quarter, Closet, Steaks, Dubrow's of premieres weekly Bath wake Creek in static fashion and Caspara debuted like strong in House shows, fashion style.

not been amazing to collections five these accomplish vibrant that products, milestone it was achieve previous able and our brands, the Kendi to and a in With had years. ShopHQ Kloepfer and to like hosts mention Heather not able guests Hall QX in of

indicator this ShopHQ in the our plus by revenue higher revenue capture merchandise static to still company's was viewership decline programming a mean at air did the and offering driven card, same industry lower revenue, in November, revenue of that ShopHQ's they also a pressures viewing this allows retailing, occurred customers and of in This is our can planning is in actual consequences we an reversed as with customer the introduction I it and times. businesses monthly static each early watch file QX business a achieve schedule the in a to same is In What mixed achievement a related This five customers home We and to will our year From success promote that television teams for was flatten also in a five for static XXXX QX of decline point for and perspective, so in fashion. the It watch for for to host network. provides by predictable we calendar, to plus our week. time while categories marketing time viewership. although customers. although habits. it because finally form viewership of the shows start longer because was faced date of same December, important able watches In by year strong XX November month before opportunity ever report critical future reliable its a not new the first future percentage ability price tune of our viewership lead to reduced they buy. successfully quarters actually is

as airtime QX lack seasonal not in increasing both assortment substitution we the merchandising only because a offer and one of could overcome This QX fashion successfully to on electronics insisted or to over fashion compensate accomplished could It of and products. not created home amount time and the we QX year for planned and reduced key vacant the air beauty lower a did accommodate. plan which In consumer inherited we CE productivity. to for vendors had produced we revenue meant As in work and airtime several plan well rotation larger airtime. we fill home CE, challenge, QX this CE around a terms payment this as product revolved

airtime was X%. QX XX%, mix this For perspective, was year QX in prior CE's of

beauty this personal the in we close was revenue, pressure our had beauty did customer visits scheduled help our to planning to to date, two CE QX in so the plan I holiday for faced ShopHQ regarding are because it completing for XXXX. for pressure, position in top brands ShopHQ our too we And revenue am because of cancel in season. proper to success and December achievements revenue reasons. holes addition were their all, important proud cancellations around teams to file also these the in the In QX These air late actual suitably All of viewership merchandising calendar.

In a on performance niche and primarily We strong. terms our focused Shopping growing portfolio our of in men's first Bulldog advertisers, centers celebrating the QX was our that networks, building products complementary services. of plan services, implementing retailing niche television television on strategic network and media launched Network,

distribution to the leading completed media audiences to provider also Interactive, and TV Left acquisition television ShopHQ top help Float Left Interactive on call to believe new content will the cutting reach distribution seeking the Smart over platforms and OTT solutions OTT the Float combat models. occurring technology We the TV we linear delivering or today. everywhere help what We cord in of establish through a companies OTT

American accessories iconic In Hulme, year artisan addition, e-commerce, we old apparel of brand completed offering here crafted an XXX catalogs, Minnesota. J.W. via and retail and the acquisition in Minneapolis,

strategies monetize of reach is national and to its revenue providing further One of promotional television growth. promotional J.W. outsized owned and by growth power our opportunities operated networks the Hulme like for immediate with advertisers

enough growth. both how our Founder helping working spur led important growth times with these iMedia's a signed felt find and we Lalo, $X CEO say about our company Lalo equity Eyal and from just we Eyal ShopHQ and helped it I was for strengthen cannot agreements by to has helping Finally, iMedia's transaction financing new to the Invicta, yesterday, Vice driving behind our Chairman. Invicta merchants to resources. to Bulldog, finance force for definitive uncertain million being In COVID-XX creative capital vendors

and million our Regarding of the balance of additional revolving sheet, availability million the fourth closed we XX.X unused an facility. with quarter X.X credit cash on

as borrowing a term July credit base to of loan Our facility $XX million supported our by which a matures and up line XXXX. of provides revolving credit in

of our line had fourth end our As our term on million outstanding quarter, and million the loan. on XX.X of XX.X we

of inventory quarter fourth was at fourth the at million end XX.X million Our XX.X XXXX. to of the the compared balance end quarter the

quarter and we million projects, income. upgrades investments Regarding $XXX to tax have X.X capital federal primarily on From our us a perspective, future approximately we million are during the in available that offset taxable capital infrastructure. approximately website to reflecting spent NOLs and to expenditures

this not impacted at other believe serve COVID-XX will less than our In homes. are retailing because do be terms that customers guidance we we television because of of their our businesses outlook We time. leaving without providing ever them

say Thank time back navigating you to like I to iMedia turn times would create here these uncertain to I of will the the this growth over that are call at operator headwinds same as In Q&A. for while momentum your measurable closing, COVID-XX. through the for important the we continue morning. at time

Operator

Instructions]. [Operator

question. Please the first of line Our D.A. with comes Thomas from proceed your Davidson. Forte question with

Thomas Forte

morning. good Great,

two Sorry, questions.

a disruption made by I'd know M&A do a strategy hoping First, late? kind I Tim, to couple outbreak then of power consumer Corona example, could I caused you who your second, And in was contrast compare couldn't that out. Virus transactions historical consumer televised general, on with the you of versus disruptions understand the distracted a in hurricanes a you challenge, a was some retail consumer because then had you were historically, engage and for had instances ShopHQ for her like

similar how to and talk disruptive outbreak Corona about you is past can So disruptions? Virus M&A

Tim Peterman

Tom sure Hey, thing.

is Let's strategy. and into the get the which start called first we'll disruptions M&A the with one then

one So would about categories. two and visible them on mental, in the disruptions, One right. think I the the be be would

depending in particular one of certain not less -- not spike, their business it for uniquely drops engaged if difficult, And the is we're without measure recent can't on you've what and from fairly leaving. tends -- to feel disruptions retailing, they we in they we challenges past because that products it more are that lot have because if all, short quickly around and a disruptions markets will in we being access are physically bigger delivers are term, those it wanted customer certainly a you're you television, we're right, what you down be are in that model TV very at business but about With was seeing more folks then model you them linear and then disrupted so most physical wants if certainly the hurricanes up seen the our to South. COVID have a ever the So how to home television, we are on move but quickly. situated

is what to situation mental an with through extended business -- model So physical the an what of components well-suited are extended and call certainly COVID. would I navigate our

and have when are people's undercurrent that, it changed similar X/XX York as term not is home, big A the you'll don't is challenge time saw the as the is longer although beginning. But air how answering retailing are physical moves, lot undercurrent with those wondering people term when COVID what difference that that that a longer Where that So makes in we and mercurial a that it's thinking for certainly do. think is disaster. tension natural but a impact TV personal New Everybody minds. state an things in people at And think recovers, as just I day. of see when and spiked is homes that. will with all Any is home, question? the that from an that, it's and it not Does not a it's is I be a what we and snow and it's model at on we not There's business very it to here, follow a it around perspective. up am is what at to at it's employment sense. going they're the uncertainty are from that about the and situated

Thomas Forte

Yeah.

there's So the it sounds challenges causes. situation multiple that COVID-XX like

some they're of similar then unique. to profile news them big other Some events ways are and

better that it any you'll and does will you of confidence, so regard? a transition to kind longer that term the in though Okay, have economy in way digital greater when the give accelerate settles, opportunity

Tim Peterman

retailing. other -- Well, short television think as and as advertising don't I as we that's think term, long an opportunity as very do retailing supported whether businesses, or much or and disrupted we retailing a industry I a television television strong be have term will

our there catalogs, this to the be consumer. direct so direct of long-term is is resurgence situation of out to, well think, this terms impact I think term consumer consumer In do Digital think accelerate is today, will of retail transition, an I begin of digital obviously situation. to but businesses, article much that natural. be retailing television that share from do as whether Not more direct and part take that will as will that a consequence I the longer

Thomas Forte

Great and then the M&A?

Tim Peterman

about M&A back so as I shore M&A that we home think XXXX. talked in QX we're On M&A inorganically of last lenses, help really up the not think fashion about businesses one, we we planned and before, for how our and call in can think about two on we

as and that we of as buying done So May, beginning to in months the getting begin as that nine then have in it that it the around we businesses customer, done take warehouse getting and your to it into we knew at with turn as it, should and much of planning been really wasn't getting XXXX.

when opportunities where were QX, So and active in you the us QX looked those at we categories. saw most

for example, So, That done work category XXXX licensing shoring the saw up of in us was arrangement and for late part that O'Neal home. because Shaquille an do you important had with that the been XXXX.

faster for, recover and J.W. from another us inorganic Hulme help saw fashion lead accessories or that accelerate planned perspective. wasn't M&A business an us fashion also in curious and properly those long You be with very

So up categories. that's shoring our right, lands, core product one

it The plan. implement we look growth how our other is that at from we

look but company. as fix perspective into also an year, not investor you what an a to we're evolving as we're So over going out only interactive I media from describe ShopHQ,

media it which very but with niche growth ShopHQ. services. saw are and But Left we Left think brands know, we as media our fixed -- networks, And the as ShopHQ simple, OTT right. next television plan, Then a those today, not pace some they and to portfolio it advertisers we millennials about already a ShopHQ, cord this also When our meaningful services, core us as they're which Bulldog. it relates on important, the about our our as M&A are for acquire you have are well have had brands like as watching for brands in as and linear our think and around media is as the not but We services doing what, cutting create really multiple applications niche customers about customers, we or that things much Float a over-the-top grow they companies a service we on for very niche ecosystems as So just and did. to just will sense television Interactive. the any will think being launched also customers, Float older M&A, like we're us is networks, what are not although XPL niche Those also business, of television air, media it's does, of services never at are the generation platform. but

are are by So be that we want to more platforms make sure that of in widely absorbed to generation the beginning more we next active customers.

Thomas Forte

Good. taking my questions. Thanks for

Tim Peterman

Yeah, Tom. the those lenses. two Thanks are

Operator

you. Thank

with question Fuhrman Please from line next your Group. Our question. Craig-Hallum Alex with comes of proceed Capital

Alex Fuhrman

during family question Great, times. certainly the I thanks very well everyone much and hope for Brand iMedia my that in is doing these taking tough

that certainly I You get that you ask now, viewership, better I quarter. know, driving of like to mean, sounds been a in shoppers find the is, a I number programming couple little challenging for improvement it that, like since a to fourth when years mean, obviously trends it static your of viewership then around And show has it Can recent predictable with is started has just continued Cook and your everything to the and to wanted has sounds what's that November of to things if the if see about one to for had to good launched seen more viewers been have hoped made to on about bit talk those been launch ShopHQ? some curious on with with going viewers, COVID with new watch as in programming programming viewers a that and those bringing if some new in to curve so the that seeing you're since and has Shaq you've stick of speak? started other of you'd Learning flatten, you more the and response users Shaq new the you,

Tim Peterman

it questions four, five doing back look there. for in industry our say go and probably static revenue mean viewership, thanks Well progress ago as making does hello, since how there we take very what really over and that, step I XXXX what programming believe at how began to mean on say similar were even yes, retailing, or with three, back that and seven, are for you around four five, years ShopHQ, does eight populate more beginning. for a its four has if model? it what networks been I'd is viewership But an let's the viewership TV with have years Alex the last or shows, very that entertainment So -- really counter to question,

time, the take at to a out business and not guiding money thing when for competition one of this really you billion has couple we have way based build share had retailing such things lot your The viewership we pay and ShopHQ of your opportunity annually better a share. begin You so our bit a than to time, week, we have factors MSO. to these to about a and great oligopoly, a day because a competition find We called quite the at TV around hour there one market do in on $XX big it of past. there's can take

thing we thing it's a to their be have they so that consistent when done at favorite is ShopHQ. brand customer for to it be really that when is never the say but on. their know fascinatingly able is show The to favorite first and simple host, And amazing

we TV forum. would. in static does it -- we yeah, work to I that, works it. that like every just came and actually other it is tested as entertainment this thought And the like retailing to more realized test it just we did first thing and back, begin let's So really And okay, when May quickly we say, when in more shows, work came does we

the So grow. to in more QX, and of year-over-year shows these we began saw and we more launch viewership

have started showing QX we it's to success. of year, and ramp So really this in again it up

And and certainly customers really our tonnage we that of that everybody on starting through air brands. our core customer had execution. the and the that great every because ones recipe so -- December four one was core And brands I the was calendar say is launches its programming our interesting, really new or October are better, what whether improvement a ratings. us back programming being were Walker original how done by it was relevant But network all amazing But jewelry, tonnage watches, think times about making curious and area, having we the is talk the the the ratings. static and drove are Ranger is Texas that have curious second, about those would of health, it and used didn't that called on that run or with Network really the beauty, USA fixed recipe really day also brands, brands in to if a engaged I running those shows day grasp more how worked the folks was with brands

And perspective. so difference bread makes that rating a it's your butter a and from

growing. that are our And brands of making the viewership is the are difference that so core why it's performing, really

Alex Fuhrman

ask mentioned wanted fourth this us remarks flexibility a will there transaction in that if does think you've that some alleviate bit you Okay, I new press some the that arrangement for with walk vendor of that and through help address was the Tim. that's to announced the the and give financing definitely that the impacted little could financing this in pressure, the helpful. just prepared mean, quarter, also financing that you of you? and and And I then morning release about to Thank there issues I

Tim Peterman

talk the Sure, talk and let's we'll QX financing. then about about

very that the family cash equity management So about Eyal this free which priority through the Certainly improving working investment was this in also helpful. our flow but in done somewhat talk in and of from or variety is helpful. top private our and we'll unrelated and same private very different that's a XXXX is Better a inventory things. second our growing capital,

critical make a back let's But QX, brands go All company we big the of really like that including of very in capital, only has successful. that elements of that -- doesn't the business are that we ours is are that aren't for their working consumer national not -- profitability, electronics. family development what to operate

consumer is and season of electronics to a value and it pay. Our in the a our we and engage like the way value why and proposition come to way distinct as value they us. for is like every do and competitive marketplace holiday our we like customers they because really It to advantage them, consumers our explain can the pay they with them air can way the educate we buy from product, our

And from so that's consumer a very a good thing perspective.

perspective vendor upon And different. these now perspective advance, cash work for vendor terms you're our way. today paying where that paying it's payment companies big delivery. really a very the From are in it a you're asking little doesn't From model business

works the are standard Our what terms on business in industry. model

for And these decision CE we those that to us had we the make provide so into perform assortments vendors that payment based the provide terms, at as able the able on not larger would be to intended not and term. that we to to moved we being payment request given QX from

the that of assortment to our our the with back strength for we items industry. pull were and go So on had normal more

was the consumer the And were on dip that But that navigated in exercise because more we that's plan that's bit and is QX easily around in the saw category just knew inherited QX was industry us a hands around challenge we going QX had had for big we that it very perform the navigate but into not and consumer short -- except why in had the in earlier better QX, it in we it already plan why because navigate had about we we you a appropriate to we on QX and seasonally we us very was when we deal. we electronics that much electronics in QX as the dangerous so on and wasn't beginning because And it was because home to that fashion depend we it best why question, a it the QX and to seasonally products. something were so and you could. unusual big QX our pressure through created saw talked with and we able the

when infusion. So announcement solution then the around you the to made get QX and equity terms, come you today payment the this $X around to and million we CE with

and Eyal for to First remarks, as to continue Lalo value Invicta foremost and I said in build a my company. as prepared us

but in only vendor a great other know, and brands fashion not Invicta, others. So as other and of has Eyal beauty ours categories, involved driving as in is helping which Vice secure and also, we been Chairman

So you the the I if are equity really spectrum and a across with investment, companies look where of COVID-XX, really about this are we sober and taking think move sure look surprise, prepared it's today at uncertainty for like to something the have are that. that a their you sheet make well make to balance no want matter sheet how sure you you through balance very to

And thought through time right of equity at was it the so this gunpowder that we to a working we, this sure perspective in to time uncertainty. move make bring to the this capital have from

Alex Fuhrman

and you year. And Brand to makes family lot best that that all your whole this again, you Thank the wish sense. we iMedia for Well, a of the answers.

Tim Peterman

Alex. Thanks,

Operator

[Operator Instructions].

proceed Please question your next Capital with from comes Street Argento line with question. Our Mark Markets. of Lake

Mark Argento

Tim. morning, Good

structure. streamline opportunity environment? a little costs continue structure there Just a little talk to wanted out, additional some you've cost the kind know bit of given about more I bit, take cost to the especially to is

Tim Peterman

and I to we turnaround. through Hey you? white Mark, about sheet I as a you it right? call that this think think necessity, about cost paper. So think things creative how are when like Absolutely, internally move you structure about of

do idea more calendar, driving any continuing to when to programming efficiencies be ask product why done just to viewership. and it repeat you if that be more aren't the consumer moving static efficiencies done cost that So historically. from business as the with But and calendar or done to there and we're we we've like to costs because what strategy the normal are is did proposition a there a continuing was

a also an every chasing in the cost with from it also pickup. of day cost minute and However, to surprising every -- a in your cost double infrastructure relevancy tremendously need many to perspective you as was associated you like are customer, perspective but as from requires perspective, Not order the don't less improving it cost that only well. need do customer, don't the to cost much you a really

does that you of creative So are that muscle how But we're and we white more memory out doing necessity that paper was with improve. of the everything we take finding and to the have do when connections sheet process what customer about no in the you experience organization. absolutely

management be the least reduce how revenue the improve that our at lower the opportunity, We though do ways yielded paper are teams a you finding improve you and experience of always customer, white with and costs. has, The to do experience has sheet driver costs. how always continue to find that perspective, our improve customer and the for from

Mark Argento

Got it, makes sense.

the and kind business balance working sheet of the terms additional looking now some its of seasonality need you long to year, through the capital to needs, capital get will term? how are right at do peak holiday what kind next terms in things you In you, of of -- do how I of mean,

Tim Peterman

Great the plan think question, as it's about the one business. that we we

be is this do way the bring way by to file that growing business base business. the So customer category to file and business headline a have to that has this fixed and the that is by to so customer only category to you the first is your And is engage the new. in grow

to guys we best to being revenue. inventory, at just lens the the capital we you as about how are it's that it that the management, through, Because that inventory how have, vendors, businesses how we so elements the working together. grow ones working you with and about we're decide not best each we about what are times looking engage think about at it's the efficiency many keep turn of it's how working customer, is about And look profitability of capital

a think and And cost today. about a through revenue is, execute talked know, equity face that we few and we so a punched it And in our just the and about the our that's with how sheet we great as perspective, and everybody a a before, get Mike sourcing in from that stress That's perspective, just business as has where surprises from plan view perspective plan test have balance the are. XXXX, we the Tyson it's we that quote to is until with feel what And we move from XXXX. raised we good about it. don't and we they

well what do So each previous so equipped those a okay, it's a have tried you it a is but talked our there QVC sheet It's get in, as we our category, being for for well never at. example of Soft. to Home about five niche to balance probably HSN them the well which that have category answer, say, lot when done category to have by that's different a and administrations so as things ShopHQ is of business well one at do your years. look in that really call business we do we we surprises at business, tried and because We linens, that bed core a is for of

not QX, thesis all looked and we category trying call it we at television that a beginning things to looked are so, we listen, to all be And said, the network. We're people. niche our and at last of fall

we're to category. paid off actually in So that to that's there cost not then We're not eliminated from trying burns for grow, Soft the buy we do that not what inventory continues we working a capital it, at we buy below perspective, to what trying Home inventory because well.

So we to look how a as at how that vendors we we at do at react by requirements, category, category look the we well working look and the have, our it. we at look we capital it, customers

it's always every about decisions tradeoffs it XXXX focused working doing customer. but building And we but businesses, capital being and customers, within on so is the our And very attracting with make means. about day

didn't liked, lot and that the So a working the -- we didn't Home inventory customer out. Soft profile we that of so didn't have moved required capital base, have

any from those kinds So see that's the we'll that decisions. to way, and surprises incur move us what of we through we you're might along make as going

Mark Argento

Tim, Got Good appreciate the it, color. luck. Thanks great.

Tim Peterman

Mark. Yes. you, Thank

Operator

Thank you.

Our with is follows with of proceed line in next the Please Thomas Forte question D.A. your question. Davidson.

Thomas Forte

Great.

current So, internally performance Tim up follow questions. And the Bulldog? about wanted then my at one measuring to of you sort off, of ask how But talked second, I to I first more, want you're I know of distracted and guess, the a think the -- the the you industry wellness level, given with category? or for health at situation and industry how category category challenges about consumer for the the home apparel economic level and do the opportunity

Tim Peterman

Tom. Thanks,

it on and broadly, product imagine COVID on So one more just saying you're situation Bulldog the correct? the questions, relates one assortment two I as to with current

Thomas Forte

consumer able the Yeah, explain because and to the think there's very consumer some that to and to a the interested a are product, well-suited that challenges. ShopHQ wellness benefits of that's given health of elements health I in of being wellness

that into opportunity be home extent may nature? I things yeah, beauty beauty, and both challenges of that meaning may working are they see On working the individuals the or more not at leaning remotely, to front, therefore,

Tim Peterman

Yes.

let's about So, talk that.

Bulldog into we moved customers better vendors can else XX% asset because anybody do perspective. why existing that have have, our do of unlike Invicta, strength we we Bulldog us we Network, that component like our the we of a which with at HSN the Bulldog, from down on talk any a has do what than or on is double first we are QVC very ShopHQ? That obviously Shopping heard that well is So important strength of You've about agenda, male. that how launching

we So COVID, success delay we're programming. connection Bulldog with feel to the recipe ramp on pushed the on given we how dramatically situation. feel it the phase distribution We the the current on current the did not up the measure the growth situation we more have distribution the and is of the appropriate time QX-QX products that the and we back did selling because of we're with into the making because

customer, for we're in execution that's the So that much call customer recipe and is around what of execution products doing collectibles finding way -- male is On-Air what that we're done we're whether a whether coins male tools the what the making On-Air before and sure is that the that right the or today I best that. is gear is for the and suits that's

it how that evidence And so And on male have services be to like on we're finding this of not we're the we're what sure of doing yet distribution. television, that monetary with networks. we to go Bulldog on involves concept him It things not search shopping is strategy all it sorts a involves the long so delay and before make down involve in just success engine her using term But of in behalf successes with and to -- a doesn't the knock for get focused regional other recipe need and now can with he as more because male us. best knock extra distribution female as that there. we well customer that it Bulldog definition a time from down perspective we list is in we're broadly we marketing, sports can is or give of the a of right. linear

that So on that's question? Did the answer squarely address Bulldog. your

Thomas Forte

Yes. Thank you.

Tim Peterman

what products. we positioned our to Okay, more quickly so competitors are move us our Yes, so shelves. on able then than be even to first, change is on very uniquely uniquely to

Simone amazing been George talent. the some the Terry an we who has have Consul business vendor and Consult with an time. amazing we have So with for brand Dubrow that in quite

have the has well from world he his and platform make products you and a health very audiences more doctor, relevant products from customers. that today television is So carries -- the sure who our it also on on that the on and are broadly. we we when trusted renowned have known is beauty has he our so who he's most shows other trust, On-Air someone an that to have And for navigated

customers uses we and is keep awful been day the best this new current in lot of continues in he we've for kill for are type surgery type healthy. to an example, age yourself to best he's What bringing of have injestables of hours, providing the of that that kinds certain cleaning So environment. to solution that as what in he educates in folks -- the customers a on

that's best in brands health, environment. element it's from our or perspective, injestables need whether how one a have great So around Terry particularly that we consumer and address from this solution a the we cleaning being

is that consumer. really you working today so want and is on what other which but have really the I to on one today customers much side have digital But direct notion the before not what you described the is it's

for we for weekly example, our for we're the solutions to -- days. about customer last Sundays be on sizzle every the is around food kitchen hour I punch the kitchen. call grown what what That's a is very So three that is over dramatically designed week which that for re-launched has one doing our food XX the two

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Thomas Forte

Tim. thank Yes, you

Operator

for Thank concludes that final you. to session. I'll any floor question-and-answer gentlemen back and Peterman the turn Ladies our comments. Mr.

Tim Peterman

everybody I time thank in our for want company. their again to morning, Liz their interest just this

momentum our I We the things said little day. doing and every are we're excited as about

there. We and COVID-XX situations are obviously the aware as cautionary relates to of it winds

is said all And XXXX in growing by file before and so free I then prospects capital, we top improves flow our cash elements have the our about. way improving are as we is do priority the talked going improving of working other our that our the customer to which that with

thank you we I soon. will talk and So

Operator

concludes this you, Thank today's teleconference.

this time. may your for disconnect at lines Thank participation. you your You

Legacy IMBDS (IMBIQ) 15 Apr 202019 Q4 Earnings call transcript