Startek, Inc. (NYSE:SRT) Q3 2022 Results Conference Call November 9, 2022 5:00 PM ET
Company Participants
Bharat Rao - Global CEO
Nishit Shah - Global CFO
Ronald Gillette - Head, Business Transformation
Conference Call Participants
Zach Cummins - B. Riley Securities
Operator
Good afternoon, everyone, and thank you for participating in today's conference call to discuss Startek financial results for the third quarter ending September 30, 2022.
Joining us today are Startek's Global CEO, Bharat Rao; the company's Global CFO, Nishit Shah; and the company's Head of Business Transformation, Ronald Gillette. Following the remarks, we'll open the call for your questions.
Before we continue, we would like to remind that all participants that the discussion today may contain certain statements which are forward-looking in nature pursuant to the safe harbor provisions of the federal securities laws. These statements are based on information currently available to us and are subject to various risks and uncertainties that could cause actual results to differ materially. Startek advises all those who are listening to this call to review the latest 10-Q and 10-K posted on its website for a summary of these risks and uncertainties. Startek does not undertake the responsibility to update any forward-looking statements.
Further, the discussion today may include some non-GAAP measures. In accordance with Regulation G, the company has reconciled these amounts back to the closest GAAP-based measurements. The reconciliations can be found in the earnings release on the Investors section of their website.
I would like to remind everyone that the webcast replay of today's call will be available via the Investors section of the company's website at www.startek.com. Now I would like to turn the conference over to Startek's Global CEO, Bharat Rao. Bharat, please begin.
Bharat Rao
Thank you. Good afternoon, everyone, and thank you all for joining. In the third quarter, we capitalized on the momentum from our sales pipeline, developed digital partnerships and focused on delivering a higher proportion of nearshore and offshore services to our clients. The continuing efforts from our sales and marketing teams and the investments we have made into our sales pipeline saw us secured 10 new clients during the quarter, expanding the static footprint across our core verticals and market segments.
Our sales and delivery teams continue to work closely to retain client accounts and make inroads into new business opportunities. Despite persistent macroeconomic headwinds, we have been able to add 28 new clients year-to-date, a significant proportion of service delivery for the 8 new logos won in this quarter will be delivered from nearshore or offshore centers, exhibiting our focus of driving growth to our bottom line through higher-margin offerings. Amongst the new client wins are a large cable operator in the U.S., a leading edge tech player in India, a large multinational e-commerce platform, a large Asia-based airline and a provider of global audio streaming services.