Consensus Cloud Solutions, Inc. (NASDAQ:CCSI) Q4 2022 Results Conference Call February 22, 2023 5:00 PM ET
Company Participants
Scott Turicchi - CEO
John Nebergall - COO
Jim Malone - CFO
Conference Call Participants
Isaac Sellhausen - Oppenheimer
Jon Tanwanteng - CJS Securities
Joe Goodwin - JMP Securities
Operator
Good day, ladies and gentlemen, and welcome to Consensus Q4 2022 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. I will now turn the call over to John Nebergall, COO at Consensus. Thank you. You may begin.
John Nebergall
Good afternoon, and welcome to the Consensus investor call to discuss our Q4 and full year 2022 financial results and our 2023 initial guidance. Joining me today are Scott Turicchi, CEO; and Jim Malone, CFO. The earnings call will begin with Scott providing opening remarks. I will give an update on a major realignment of our operating structure as well as sales and technology results, and then Jim will follow up and discuss our full year and Q4 financial results.
After we finish with our prepared remarks, we will conduct a Q&A session. At that time, the operator will instruct you on procedures for asking a question. A copy of this presentation and the associated press release will be available on our website. Also, if you have any questions, you can always send an e-mail to investor@consensus.com. Before we begin our prepared remarks, allow me to direct you to the safe harbor language on Slide 2.
As you know, this call and webcast will include forward-looking statements. Such statements may involve risks and uncertainties that would cause actual results to differ materially from the anticipated results. 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 SEC 10-K filing as well as a summary of those risk factors that we have included as part of the slide show for the webcast. We refer you to discussions in these documents regarding safe harbor language as well as forward-looking statements. Now let me turn the call over to Scott.
Scott Turicchi
Thank you, John. I would like to touch on several areas before handing the call over to John and Jim for more details on our operations Q4 financial results, fiscal year '22 results as well as the publication of our 2023 guidance. As noted in our press release, we intend to file an amended Q3 2022 10-Q to primarily address 2 unintentional errors we have identified in the preparation of our Form 10-K. The first area is related to an accounting practice we inherited from the spin. Notably, our SOHO revenue stream was inadvertently grossed up by $5.3 million over the first 3 quarters of 2022 with a corresponding offset to bad debt expense. This correction has no impact on the company's operating income, net income, EBITDA or cash for the relevant periods.