Cimpress plc (NASDAQ:CMPR) Q3 2023 Earnings Conference Call April 27, 2023 8:00 AM ET

Company Participants

Meredith Burns - Vice President of Investor Relations

Sean Quinn - Executive Vice President & Chief Financial Officer

Robert Keane - Founder, Chairman & Chief Executive Officer

Conference Call Participants

Operator

Good day ladies and gentlemen and thank you for standing by. Welcome to the Cimpress Third Quarter Fiscal Year 2023 Earnings Call.

I will introduce Meredith Burns, Vice President of Investor Relations and Sustainability.

Meredith Burns

Thank you, Howard, and thank you, everyone, for joining us. With us today are Robert Keane, Founder, Chairman and Chief Executive Officer; and Sean Quinn, EVP and Chief Financial Officer. I hope you've all had a chance to read our earnings document. We appreciate the time that you've dedicated to understand our results, our commentary and our outlook. This live Q&A session will last 45 minutes to an hour, and we'll answer both presubmitted and live questions. You can submit questions live via the questions and answers box at the bottom left of your screen.

Before we start, I'll note that in this session, we will make statements about the future. Our actual results may differ materially from these statements due to risk factors that are outlined in detail in our SEC filings and the documents we published yesterday on our website. We have also published non-GAAP reconciliations for our financial results and our outlook on our IR website. We invite you to read them.

And now, I will turn things over to Sean for some brief remarks before we take questions.

Sean Quinn

Thanks a lot, Meredith, and thanks to everyone who's joined us today and who's listening later on the recording. Before we get into the questions, I'll highlight just a few key points from the financial results and outlook that we published yesterday.

As we outlined in our September Investor Day, this fiscal year's results were going to be characterized by margin compression in the first half of the year as we lap the impact of cost inflation and a higher OpEx base and then expansion in the second half of the year. before factoring in the material benefits from the cost reduction outlines that we outlined for you in our March 24 investor update, we saw significant year-over-year expansion of adjusted EBITDA in the March quarter from a combination of accelerated revenue growth, gross margin stabilization and leverage in advertising spend and operating expenses.