Radius Global Infrastructure, Inc. (NASDAQ:RADI) Q2 2022 Results Conference Call August 9, 2022 8:30 AM ET

Company Participants

Jason Harbes - Head, IR

Bill Berkman - CEO and Co-Chairman

Glenn Breisinger - CFO

Conference Call Participants

Ric Prentiss - Raymond James

Sami Badri - Credit Suisse

Simon Flannery - Morgan Stanley

Operator

Greetings, and welcome to Radius Global Infrastructure’s Second Quarter 2022 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jason Harbes, Head of IR. Thank you. You may begin.

Jason Harbes

Thank you, operator, and welcome, everyone, to the Radius Global Infrastructure Second Quarter 2022 Earnings Call. In a moment, Bill Berkman, our CEO and Co-Chairman, will provide an overview of our second quarter 2022 results, followed by a more detailed update from Glenn Breisinger, our Chief Financial Officer. After these comments, we will open up the call for your questions.

Before we begin, I would like to remind everyone that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our earnings release and filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those expressed. These statements speak as of today’s date, and we undertake no obligation publicly to update or revise these forward-looking statements. In addition, on today’s call, we may discuss certain non-GAAP financial information. Combine this information together with reconciliations to the most directly comparable GAAP financial measure in yesterday’s earnings release and the supplemental financial information available on our website at www.radiusglobal.com. Bill?

Bill Berkman

Thank you all for joining us today for our second quarter 2022 earnings conference call. As a brief reminder, we buy high-quality, long-dated, long-duration assets in increments over long periods of times, which we believe helps mute the effects of periodic headwinds from currency volatility as well as variations in asset pricing, competition and churn by borrowing in local currencies, redeploying local cash flows and averaging these effects over time.

The growing base of our business is cash flow generated from some of the world’s most critical data infrastructure. Even amidst the current global economic and political environment, I’m pleased to report the continued resiliency and stability of our business as we continue to deliver what we believe to be downside-protected attractive returns. This is evidenced by strong growth in the second quarter where we now own over 8,500 lease streams on over 6,500 digital infrastructure sites in over 20 countries. These assets generated record quarterly GAAP revenue of $32.6 million, up 30% year-over-year, which is net of the impact of recent volatile foreign exchange rates.