VeriSign, Inc. (VRSN) Q2 2023 Earnings Call Transcript

VeriSign, Inc. (NASDAQ:VRSN) Q2 2023 Earnings Conference Call July 27, 2023 4:30 PM ET

Company Participants

David Atchley - Vice President, Investor Relations & Corporate Treasurer

Jim Bidzos - Executive Chairman & Chief Executive Officer

George Kilguss - Executive Vice President & Chief Financial Officer

Conference Call Participants

Rob Oliver - Robert W. Baird

Ygal Arounian - Citigroup

Operator

Good day, everyone. Welcome to VeriSign's Second Quarter 2023 Earnings Call. Today's conference is being recorded. [Operator Instructions]

At this time, I would like to turn the conference over to Mr. David Atchley, Vice President of Investor Relations and Corporate Treasurer. Please go ahead, sir.

David Atchley

Thank you, operator. Welcome to VeriSign's second quarter 2023 earnings call. Joining me are Jim Bidzos, Executive Chairman and CEO; Todd Strubbe, President and COO; and George Kilguss, Executive Vice President and CFO. This call and presentation are being webcast from the Investor Relations website which is available under About VeriSign on verisign.com. There, you will also find our earnings release. At the end of this call, the presentation will be available on that site and within a few hours, the replay of the call will be posted.

Financial results in our earnings release are unaudited and our remarks include forward-looking statements that are subject to the risks and uncertainties that we discuss in detail in our documents filed with the SEC, specifically the most recent report on Form 10-K. VeriSign does not update financial performance or guidance during the quarter unless it is done through a public disclosure. The financial results in today's call and the matters we will be discussing today include GAAP results and 2 non-GAAP measures used by VeriSign, adjusted EBITDA and free cash flow. GAAP to non-GAAP reconciliation information is appended to the slide presentation which can be found on the Investor Relations section of our website available after this call.

Jim and George will provide some prepared remarks. And afterward, we will open the call for your questions.

With that, I would like to turn the call over to Jim.

Jim Bidzos

Thank you, David. Good afternoon to everyone and thank you for joining us. We delivered another successful quarter by focusing on our mission as a critical infrastructure operator. The quarter included the renewal of the .net registry agreement and solid financial results. Additionally, last week, we marked 26 years of 100% availability in the .com, .net domain name resolution system. Throughout the various global challenges over the past 26 years, from the pandemic to natural disasters to evolving cyber threats, our purpose-built network has kept billions of people worldwide continuously connected to what matters most. The work we do to operate, protect and evolve key Internet infrastructure has never been more important than it is today. Reaching this mark is a testament to the ongoing investments made in our platforms, processes and people.