Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET
Company Participants
Adam Varon - Senior Vice President of Finance
Scott Turicchi - CEO
John Nebergall - COO
Jim Malone - CFO
Johannes Hecker - Executive Vice President of Operations
Conference Call Participants
Charlie Strauser - CJS Securities
Operator
Good day, ladies and gentlemen, and welcome to Consensus Q2 2023 Earnings Call. My name is Paul, and I will be the operator assisting you today. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]
On this call from Consensus will be Scott Turicchi, CEO; John Nebergall, COO; and Jim Malone, CFO; Johnny Hecker, Executive Vice President of Operations and Adam Varon, Senior Vice President of Finance.
I will now turn the call over to Adam Varon, Senior Vice President of Finance at Consensus. Thank you. You may begin.
Adam Varon
Good afternoon, and welcome to the Consensus investor call to discuss our Q2 2023 financial results, other key information and 2023 guidance. Joining me today are Scott Turicchi, CEO; John Nebergall, COO; Johnny Hecker, EVP of Operations and Jim Malone, CFO. The earnings call will begin with Scott providing opening remarks. John will give an update on operational progress since our Q1 investor call. Johnny will discuss progress on our go-to-market realignment and then Jim will wrap it up to discuss our Q2, 2023 financial results and 2023 guidance. After we finish our prepared remarks, we will conduct a Q&A session. At that time, the operator will instruct you on procedures for asking a question.
Before we begin our prepared remarks, allow me to direct you to the Safe Harbor language on Slide 2. As you know this call on the webcast will include forward-looking state. Such statements may involve risks and uncertainties that would cause actual results to differ materially from the anticipated result. Some of those risks and uncertainties include, but are not limited to the risk factors outlined on Slide 3 that we have disclosed in our 10-K SEC filing, as well as a summary of those risk factors that we have included as part of the slideshow for the webcast. We refer you to discussions that most documents regarding Safe Harbor language as well as forward-looking state.
Now let me turn this call over to Scott.
Scott Turicchi
Thank you, Adam. While there are many important accomplishments in the quarter, most of them are not yet producing meaningful revenue. As a result and coupled with continuing slow decision making from our perspective corporate customers, weak results from Summit and some near-term loss of efficiency due to our internal sales force realignment, our top line revenue was weaker than anticipated and has influenced us to focus on the lower end of our revenue guidance for the year.