Stagwell Inc. (NASDAQ:STGW) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET
Company Participants
Michaela Pewarski - IR
Mark Penn - Chairman & CEO
Frank Lanuto - CFO
Conference Call Participants
Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.
Michaela Pewarski
00:00 Good morning, everyone. Welcome to the Stagwell Inc. Webcast for the First Quarter 2022. On today's webcast, Mark Penn, Chairman and Chief Executive Officer will first provide an overview of Stagwell's first quarter, followed by a full review of the financial results from our Chief Financial Officer, Frank Lanuto. We will then take questions, which you can submit through the chat function on the video webcast portal.
00:27 Before we begin our prepared remarks, I'd like to remind you that the following discussion contains forward-looking statements and non-GAAP financial data. Forward-looking statements about the company, including those relating to earnings guidance are subject to uncertainties referenced in the cautionary statements, included in our earnings release and slide presentation, and are further detailed in the company's SEC filings.
00:52 Unless otherwise stated comparisons to prior year periods and historical results discussed on this webcast will be pro forma for the combination giving full effect to historical results as if the combination have been completed on January 1, 2020. For your reference, we posted an investor presentation to our website at stagwellglobal.com. We also refer you to this morning's press release and slide presentation for definitions, explanations and reconciliations of non-GAAP financial data.
01:25 And now to get started, I'd like to turn it over to our Chairman and Chief Executive Officer, Mark Penn.
Mark Penn
01:33 Good morning and thank you for joining us to discuss Stagwell's first quarter results for 2022. While the economy contracted in the first quarter, Stagwell is growing and growing strongly. We're becoming the essential marketing transformation company that more and more clients turn to for modern marketing based on the right combination of digital transformation, performance media and data, research and insights, and creativity and communications.
02:00 We're accelerating our growth pyramid as 56% of our net revenue and 64% of our adjusted EBITDA came from high growth digital services positioning us for continued faster growth over the long-term. While many legacy holding companies are guiding to 5% and 6% growth, we are reaffirming our strong double-digit growth projections for the year and expanding our long-term targets. Our growth this quarter exceeds all of the reporting industry competitors and even most of the big Silicon Valley tech companies.