Tradeweb Markets, Inc. (TW) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 2, 2023 9:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to Tradeweb's Fourth Quarter 2022 Earnings Conference Call. As a reminder, today's call is being recorded and will be available for playback.

To begin, I will turn the call over to Director or Investor Relations, Sameer Murukutla. Please go ahead.

Sameer Murukutla

Thank you and good morning. Joining me today for the call are our CEO, Billy Hult, who will review the highlights for the quarter and provide a brief business update, our President, Thomas Pluta, who will dive a little deeper into some growth initiatives and our CFO, Sara Furber, who will review our financial results. We intend to use the website as a means of disclosing material, non-public information and complying with disclosure obligations under SEC Regulation FD.

I'd like to remind you that certain statements in this presentation and during the Q&A may relate to future events and expectations, and as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Statements related to, among other things, our guidance are forward-looking statements. Actual results may differ materially from these forward-looking statements. Information concerning factors that could cause actual results to differ from forward-looking statements is contained in our earnings release and presentation and periodic reports filed with the SEC.

In addition, on today's call we will reference certain non-GAAP measures. Information regarding these non-GAAP measures, including reconciliations to GAAP measures are in our posted earnings release and presentation.

To recap, this morning we reported GAAP earnings per diluted share of $0.42. Excluding certain non-cash stock-based compensation expense, acquisition-related transaction costs, acquisition and Refinitiv-related depreciation and amortization and certain FX items, and assuming an effective tax rate of 22%, we reported adjusted net income per diluted share of $0.49. Please see the earnings release and the Form 10-Q to be filed with the SEC for additional information regarding the presentation of our historical results.

Now, let me turn the call over to Billy.

Billy Hult

Thanks, Sameer. Good morning, everyone. And thank you for joining our fourth quarter 2022 earnings call. Before I start, I'd like to congratulate our colleague Ashley Serrao, on the birth of his daughter, and we're excited for his return post his paternity leave.

As I kick off my inaugural earnings call as CEO, I want to celebrate the past and the amazing journey that the team has taking to get where we are now. Since joining the firm almost 23 years ago, I've had an exciting front row seat to helping the team grow an innovative startup into a global business that generated nearly $1.2 billion in revenues in 2022, marking our 23rd straight year of record revenues.