Sterling Check Corp. (NASDAQ:STER) Q2 2023 Earnings Conference Call August 8, 2023 8:30 AM ET

Company Participants

Judah Sokel - Senior Vice President, Finance

Josh Peirez - Chief Executive Officer

Peter Walker - Chief Financial Officer

Conference Call Participants

Mark Marcon - Baird

Andrew Nicholas - William Blair

Toni Kaplan - Morgan Stanley

Kyle Peterson - Needham

George Tong - Goldman Sachs

Scott Wurtzel - Wolfe Research

Adam Parrington - Stifel

Operator

Good morning. And welcome to the Sterling Second Quarter 2023 Earnings Call. My name is Carla, and I will be the operator of today’s call. [Operator Instructions]

I would now like to pass the conference over to our host Judah Sokel, Senior Vice President of Finance to begin. Please go ahead when you are ready.

Judah Sokel

Thank you, Operator. Welcome to Sterling’s second quarter 2023 earnings call. Joining me today are Josh Peirez, Chief Executive Officer of Sterling; and Peter Walker, Chief Financial Officer of Sterling.

The slides we will reference during this presentation can be accessed on Sterling’s Investor Relations website under News and Events. The slides have been posted to our website and a replay will be made available on the website. After prepared remarks, we will open this call to questions.

Before we discuss our results, I encourage all listeners to review the legal notice on slide two, which explains the risks of forward-looking statements and the use of non-GAAP financial measures.

Additionally, please refer to our most recent Form 10-K and 10-Q filed with the Securities and Exchange Commission for a discussion of risk factors that could cause actual results to differ materially from these forward-looking statements.

Our slide presentation and discussions on this call will include certain non-GAAP financial measures. For such measures, reconciliations to the most directly comparable GAAP measures are in the appendix to the presentation and in our earnings release issued this morning.

I will now turn the call over to Josh Peirez.

Josh Peirez

Thank you, Judah. Good morning and thank you for joining us. Sterling’s second quarter of 2023 was another quarter of successful execution towards our long-term strategy and 2023 focus areas. Results were at or above our prior expectations and I am very proud of the team’s accomplishments.

The macro environment recently slowed during the second half of June and July, and we have narrowed our full year expectations to reflect that slowdown. Even in the face of this macro softness, our clients continue to hire at a rapid pace and are increasingly relying on us to help them keep their employees safe while hiring faster and smarter.