CRA International, Inc. (NASDAQ:CRAI) Q2 2023 Earnings Conference Call August 3, 2023 10:00 AM ET

Company Participants

Dan Mahoney - CFO

Paul Maleh - President and CEO

Chad Holmes - Chief Corporate Development Officer

Conference Call Participants

Kevin Steinke - Barrington Research

Marc Riddick - Sidoti & Company

Andrew Nicholas - William Blair

Operator

Good day, everyone, and welcome to Charles River Associates Second Quarter 2023 Conference Call. Please note that today's call is being recorded. The company's earnings release and prepared remarks from CRA's Chief Financial Officer are posted on the Investor Relations section of CRA's website at crai.com.

With us today are CRA's President and Chief Executive Officer, Paul Maleh; Chief Financial Officer, Dan Mahoney; and Chief Corporate Development Officer, Chad Holmes.

At this time, I'd like to turn the call over to Mr. Mahoney for opening remarks.

Dan Mahoney

Thank you, Rob, and good morning, everyone. Please note that the statements made during this conference call, including guidance on future revenue and non-GAAP EBITDA margin and any other statements concerning the future business, operating results or financial condition of CRA, including those statements using the terms 'expect', 'outlook' or similar terms are forward-looking statements as defined in Section 21 of the Exchange Act. Information contained in these forward-looking statements is based on management's current expectations and is inherently uncertain. Actual performance and results may differ materially from those expressed or implied in these statements due to many important factors, including the level of demand for our services as a result of changes in general and industry-specific economic conditions. Additional information regarding these factors is included in today's release and in CRA's periodic reports, including our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC.

CRA undertakes no obligation to update any forward-looking statements after the date of this call. Additionally, we will refer to some non-GAAP financial measures and certain measures presented on a constant currency basis on this call. Everyone is encouraged to refer to today's release and related CFO remarks for reconciliations of these non-GAAP financial measures to the GAAP comparable measures and descriptions of the calculation of EBITDA and measures presented on a constant currency basis.

I will now turn it over to Paul for his report.

Paul Maleh

Thanks, Dan, and good morning, everyone. Thank you for joining us today.

For the past several quarters, we have discussed our sales pipeline and in particular, the growth in our project lead flow as a good indicator of the overall health of CRA's business. I'm pleased to report that we extended this trend in the second quarter as project lead flow increased by 15% year-over-year. This marks the third consecutive quarter of double-digit growth in project lead flow and together represents the strongest period of lead flow activity in CRA's history.