HireRight Holdings Corporation (NYSE:HRT) Q1 2022 Results Conference Call May 12, 2022 5:00 PM ET

Company Participants

Guy Abramo - President and CEO

Tom Spaeth - CFO

Conference Call Participants

Andrew Nicholas - William Blair

George Tong - Goldman Sachs

Kevin McVeigh - Credit Suisse

Ashish Sabadra - RBC Capital Markets

Mark Marcon - Baird

Shlomo Rosenbaum - Stifel

Jason Celino - Keybanc Capital Markets

Operator

Good afternoon, ladies and gentlemen and welcome to the HireRight First Quarter 2022 Conference Call. Joining today's call is the Company's President and Chief Executive Officer, Guy Abramo; and Chief Financial Officer, Tom Spaeth. [Operator Instructions]

I remind everyone that management will refer to certain non-GAAP financial measures. An explanation and reconciliation of these measures to the most comparable GAAP financial measures is included in the press release issued today, which is available in the Investor Relations section of HireRight's website.

Also during this call, management's remarks will include forward-looking statements related to HireRight's market opportunity, customer retention, competitive differentiation, pandemic recovery, strategies, including technology investment to increase revenue and margins, growth potential for specific customers, industry sectors and our international business, future cash flows, operational improvements and guidance for 2022 revenue, adjusted EBITDA and adjusted EBITDA margin improvement.

Such statements are predictions and actual results may differ materially. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statement is contained in Form 10-K filed with the Securities and Exchange Commission, in particular, in the section of that document entitled Risk Factors. Forward-looking Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations.

Now it's my pleasure to turn the call over to Guy Abramo.

Guy Abramo

Thank you, operator and good afternoon, everyone. We're pleased to have you with us today to discuss our strong first quarter results. While there is plenty of turbulence in the global economy these days, one thing that has remained consistent is demand for talent and the increasing options of employment for candidates. With more than 11 million job openings in the US alone, the competition for people has never been higher. This demand coupled with an ever-increasing mobile workforce continues to drive the need for efficient and effective talent acquisition and management solutions.

We feel HireRight provides the best partnership and solution to the global market through our United Global platform, proprietary databases, compliance-centric approach and industry-leading customer support. Our customers rely on us to deliver for them with speed, precision and innovation and this industry leadership is reflected in our strong financial performance.