VIZIO Holding Corp. (NYSE:VZIO) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET
Company Participants
Michael Marks - Director of Investor Relations
William Wang - Founder & Chief Executive Officer
Adam Townsend - Chief Financial Officer
Mike O'Donnell - Chief Revenue & Strategic Growth Officer
Conference Call Participants
Laura Martin - Needham
Nick Zangler - Stephens
Michael Morris - Guggenheim
Vasily Karasyov - Cannonball Research
Wamsi Mohan - Bank of America
Steven Cahall – Wells Fargo
Tom Champion - Piper Sandler
Jim Goss - Barrington Research
Michael Marks
Good afternoon, and welcome to VIZIO's Q3 2022 earnings call. I'm Michael Marks, Director of Investor Relations. Joining me for today’s discussion are William Wang, our Founder and CEO; and Adam Townsend, our CFO. Also joining us for the Q&A portion of today’s call is Mike O’Donnell, our Chief Revenue and Strategic Growth Officer. Please note that in addition to our earnings release and today’s remarks, a slide presentation can be found on our Investor Relations website at investors.vizio.com.
I’ll refer you to the third slide in the presentation and remind you that certain statements made on this call, including certain statements about our expected fourth quarter results, upcoming product rollouts and functionality and future customer demand for our products are forward-looking statements that involve risks and uncertainties.
These risks and uncertainties that could cause actual results to differ materially from these forward-looking statements are discussed in more detail in our filings with the SEC and our press release that was issued this afternoon. We undertake no obligation to revise any statements to reflect changes that occur after this call, except as required by law.
During the call, we also refer to non-GAAP financial measures, including adjusted EBITDA. Reconciliations with the most comparable GAAP measures for non-GAAP financial information discussed on this call can be found in our earnings release or in the Investors section of our website. Note that all quarterly comparisons in today’s remarks will be made on a year-over-year basis unless otherwise specified.
Now, I will turn the call over to William.
William Wang
Thank you, Michael, and hello everyone. Thank you for joining us today. An important milestone for VIZIO has always been growth meets discipline. Our third quarter results are a continuing reflection of this, as we grew our Platform+ net revenue by 49% and gross profit by 38%. And our total company adjusted EBITDA came in at $17 million. All of which surpassed the high end of our guidance ranges.