Earnings Labs

Intelligent Protection Management Corp. (IPM)

Q2 2019 Earnings Call· Sun, Aug 11, 2019

$1.82

+5.20%

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Transcript

Operator

Operator

Good day, everyone. And welcome to the PeerStream, Inc. 2019 Earnings and Business Update Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Stephanie Prince of PCG Advisory. Please go ahead, ma’am.

Stephanie Prince

Management

Thank you, Odessa, and good afternoon, everyone. Welcome to the PeerStream second quarter 2019 earnings and business update call. With me on the call today is Alex Harrington, Chief Executive Officer, and Principal Financial Officer of PeerStream. I’d like to remind everyone that earlier today we issued a presentation to accompany this call. The presentation can be accessed on the Company’s website at peerstream.com under the Quarterly Earnings tab of the News section or by following the links on PeerStream’s homepage. Before I turn the call over to management, I’d like to inform everyone that certain statements made during today’s conference call that are not statements of historical fact, including those concerning future plans, objectives, goals, strategies, or performance, are forward-looking statements. These statements reflect the good faith, beliefs, and judgments of PeerStream’s management and are based upon currently available information only as of the date of this conference call. These statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from current expectations. These factors include those described in the Risk Factors section of the Company’s periodic reports filed with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and the Company expressly disclaims any obligation to update earlier statements as a result of new information, except where required by law. Certain non-GAAP measures may be discussed during today’s presentation, including Adjusted EBITDA. Adjusted EBITDA has been calculated consistent with the manner in which it is defined in PeerStream’s periodic reports filed with the SEC. Adjusted EBITDA has been reconciled for the nearest applicable GAAP measure in this presentation and in PeerStream’s earnings release, which is also available under the Quarterly Earnings tab of the News section of PeerStream’s website, which, once again, is www.peerstream.com I’d now like to turn the call over to Alex Harrington. Alex?

Alex Harrington

Management

Thanks Stephanie, and thank you all for joining us today. As Stephanie said, I encourage you all to access the earnings call presentation available on our website, www.peerstream.com. And for those of you following along in the presentation, we’re going to be flipping to page three, to first review some strategic update. In addition to a review of Q2 financial performance, on this call today we're going to give a qualitative update on both the Secured Communication Software licensing business, which was introduced to market last year and our consumer video chat app business, which was the foundation of business started now more than 20 years ago and is served nearly 0.5 a billion end users over that time. The Secured Communications business which grew out of work we did in 2018 and through the first half of this year for our foundational client ProximaX now is targeting governments and enterprises in the $45 billion software segment of the information security industry. That estimate coming from Gartner. This is a really big market opportunity with constantly evolving technology and near constant pressure from hackers and regulators and the timing to approach this market is excellent. On page four, we're going into greater depth on our offering. The solution PeerStream is developing and there is really two complementary products, which together offer a solution for maximum security in voice, video, text and data communication. These products are not designed for mainstream consumer use, but for the most sensitive communication situation, military, intelligence, emergency response or highly confidential corporate communication. The first part of the solution is PeerStream Protocol or PSP for short. This is a data routing technology that not only protects the contents of a client's communication, but also the metadata around the transmission, which means importantly that the identity…

Operator

Operator

Alex Harrington

Management

Well, thanks all for joining today. Please do let us know if you have any questions after the fact, I’ll be delighted to answer them and we're looking forward to future communications with our shareholders. So we'll be in touch. Thanks so much.

Operator

Operator

That does conclude today's conference. Thank you all for your participation. You may now disconnect.