Perficient, Inc. (NASDAQ:PRFT) Q1 2023 Results Conference Call May 2, 2023 11:00 AM ET

Company Participants

Jeff Davis - Chairman of the Board and CEO

Paul Martin - CFO, Treasurer and Assistant Secretary

Tom Hogan - President and COO

Conference Call Participants

Mayank Tandon - Needham

Jonathan Lee - Morgan Stanley

Surinder Thind - Jefferies

Brian Kinstlinger - Alliance Global Partners

Puneet Jain - JPMorgan

Vincent Colicchio - Barrington Research

Jack Vander Aarde - Maxim Group

Divya Goyal - Scotia Bank

Maggie Nolan - William Blair

Operator

Good day, and thank you for standing by. Welcome to the Q1 2023 Perficient Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker, Chairman and CEO, Jeff Davis. Please go ahead.

Jeff Davis

Thank you. Good morning, everyone. This is Jeff. With me on the call today is Paul Martin, our CFO; and Tom Hogan, our President and COO. I'd like to thank you for your time this morning. And as typical, we'll have about 10 to 15 minutes of prepared comments, after which we'll open up the call for questions.

Before we proceed, Paul, would you please read the safe harbor statement.

Paul Martin

Thanks, Jeff, and good morning, everyone. Some of the things we will discuss in today's call concerning future company performance will be forward-looking statements within the meaning of the securities laws. Actual results may materially differ from those discussed in these forward-looking statements, and we encourage you to refer to the additional information contained in our SEC filings concerning factors that could cause those results to be different than contemplated in today's discussion.

At times, during this call, we will refer to adjusted EPS and adjusted EBITDA. Our earnings press release, including a reconciliation of certain non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with generally accepted accounting principles or GAAP, is posted on our website at www.perficient.com. We've also posted a slide deck, which includes a reconciliation of certain non-GAAP guidance to the most directly comparable financial measures prepared in accordance with GAAP on our website under Investor Relations.

Jeff?

Jeff Davis

Thanks, Paul. Well, thank you all again for your time this morning as we discuss Perficient's start of the year and continued growth and profitability. Revenue was up 4% during the first quarter and already best-in-breed services gross margin expanded by 10% -- 10 basis points, excuse me. We remain confident that 2023 will prove to be another year of solid revenue and earnings growth and that our position in the market continues to strengthen.