Rubicon Technologies, Inc. (NYSE:RBT) Q2 2023 Results Conference Call August 8, 2023 5:00 PM ET
Company Participants
Chris Spooner - SVP of Finance
Phil Rodoni - CEO
Kevin Schubert - President and CFO
Conference Call Participants
Maria Ripps - Canaccord
Brett Knoblauch - Cantor Fitzgerald
Stephanie Moore - Jefferies
Operator
Good afternoon, and welcome to Rubicon Technology's Second Quarter 2023 Earnings Call, my name is Lisa, and I'll be your operator for today's call. As a reminder, this conference is being recorded. And at this time all participants are in a listen-only mode. After the speakers remarks' there will be a question-and-answer session. [Operator Instructions]
It is now my pleasure to introduce Chris Bonner, Executive Vice President of Finance. Please go ahead.
Chris Spooner
Thank you. Hello, everyone, and welcome to Rubicon's second quarter 2023 earnings call. A few quick reminders before we begin. This call is being webcast and can be accessed on the Investors section of our website, which can be found at investor.rubicon.com. Today, we will present Rubicon's financial results for the second quarter of 2023, which will be followed by a question-and-answer session.
During the call, management will be making forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance, and our actual results may differ materially due to known and unknown risks and uncertainties as discussed in greater detail in our earnings release and our SEC filings.
We assume no obligation to update forward-looking statements, except as required by law. Additionally, we will refer to non-GAAP financial measures during our call today, including adjusted gross profit and adjusted EBITDA. We provide these non-GAAP results for informational purposes, and they should not be considered in isolation from the most directly comparable GAAP measures.
A discussion of why we believe these non-GAAP measures are useful to investors, certain limitations of using these measures and reconciliations to the most directly comparable GAAP measure can be found in our earnings release and our filings with the SEC. Joining me on the call today are Phil Rodoni, Rubicon's Chief Executive Officer; and Kevin Schubert, President and Chief Financial Officer.
With that, I would like to turn the call over to Phil.
Phil Rodoni
Thank you, Chris, and thank you to everyone for joining us today. To begin today's call, I am very proud to say that since our last call, we have achieved a second consecutive quarter of record adjusted gross profit of approximately $18 million, which represents an impressive 41% increase over the second quarter of 2022. Further, we have completed all the highest priority tasks from our bridge to profitability plan and continue to make significant progress against the goals we announced at the end of 2022.