TechTarget, Inc. (NASDAQ:TTGT) Q1 2022 Results Conference Call May 10, 2022 9:00 AM ET

Company Participants

Charlie Rennick - General Counsel

Greg Strakosch - Executive Chairman

Mike Cotoia - CEO

Dan Noreck - CFO

Conference Call Participants

Justin Patterson - KeyBanc

Aaron Kessler - Raymond James

Bhavin Shah - Deutsche Bank

Jason Kreyer - Craig-Hallum

Joshua Reilly - Needham & Co.

Eric Martinuzzi - Lake Street

Bryan Bergin - Cowen

Operator

Hello, everyone, and welcome to the TechTarget First Quarter 2022 Conference Call and Webcast. My name is Daisy, and I’ll be coordinating today’s call. [Operator Instructions]

I will now hand the call over to your host, Charlie Rennick, General Counsel to begin. So Charlie, please go ahead.

Charlie Rennick

Thank you, Daisy, and good morning. Joining me here today are Greg Strakosch, our Executive Chairman; Mike Cotoia, our Chief Executive Officer; and Dan Noreck, our CFO.

Before turning the call over to Greg, I’d like to remind everyone on the call of our earnings release process. As previously announced, in order to provide you with an update on our business in advance of the call, we posted our shareholder letter on the Investor Relations section of our website and furnished it on an 8-K. Following Greg’s introductory remarks, the management team will be available to answer your questions.

Any statements made today by TechTarget that are not factual including during the Q&A may be considered forward-looking statements. These forward-looking statements, which are subject to risks and uncertainties are based on assumptions and are not guarantees of our future performance. Actual results may differ materially from our forecast and from these forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including those discussed in the Risk Factors section of our filings with the SEC. These statements speak only as of the date of this call, and TechTarget undertakes no obligation to revise or update any forward-looking statements in order to reflect events that may arise after this conference call, except as required by law. Finally, we may also refer to certain financial measures not prepared in accordance with GAAP. A reconciliation of certain of these non-GAAP financial measures to the most comparable GAAP measures to the extent available without unreasonable efforts accompanies our shareholder letter. With that, I’ll turn the call over to Greg.

Greg Strakosch

Great. Thank you, Charlie. We are pleased to report that we exceeded our forecast in Q1, and we are raising our annual guidance. Additionally, we have repurchased 206,114 shares for approximately $14.2 million since our last earnings call. Today, we are announcing a new stock repurchase program of $50 million.