VIZIO Holding Corp. (NYSE:VZIO) Q2 2022 Earnings Conference Call August 10, 2022 5:00 PM ET

Company Participants

Michael Marks – Director-Investor Relations

William Wang – Founder and Chief Executive Officer

Adam Townsend – Chief Financial Officer

Michael O’Donnell – Chief Revenue and Strategic Growth Officer

Conference Call Participants

Nick Zangler – Stephens

Laura Martin – Needham

Steven Cahall – Wells Fargo

Tom Champion – Piper Sandler

Jason Kreyer – Craig-Hallum

Jim Goss – Barrington Research

Vasily Karasyov – Cannonball Research

Michael Marks

Good afternoon and welcome to the VIZIO's Q2 2022 Earnings Call. I am 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 Michael 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 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 on 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. VIZIO has always been focused on great design, great user experiences, but just as importantly, a culture of discipline and efficiency, we'll focus on this as well, particularly in environments that we're in now, which is filled with uncertainty and challenges. I'm very proud of our strong and seasoned management team that has endured many business cycles over our 20 year history and proven to be resilient. Our second quarter results showed the power of our leadership team and the success of the dual revenue model we have built. Despite broader marketplace pressures, our total revenue grew by 2% to $409 million, led by our platform business, which grew 69% to a record $111 million.