Sharecare, Inc. (NASDAQ:SHCR) Q3 2022 Earnings Conference Call November 10, 2022 8:00 AM ET
Company Participants
Jeff Arnold - Co-Founder, Chairman, Chief Executive Officer
Justin Ferrero - Chief Financial Officer
Jaffry Mohammed - Chief Operating Officer
Conference Call Participants
David Larsen - BTIG
Richard Close - Canaccord
Craig Hettenbach - Morgan Stanley
Cindy Motz - Goldman Sachs
Dolph Warburton - Nephron Research
Operator
Good day, everyone and welcome to the Sharecare Third Quarter 2022 Earnings Call and Webcast. All participants are in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. Please also note today’s event is being recorded.
On today’s call we have Mr. Jeff Arnold, Chairman and CEO; Mr. Justin Ferrero, President and Chief Financial Officer, as well as Mr. Jaffry Mohammed, Chief Operating Officer, who will join for the question-and-answer session.
Before we begin, we would like to remind you that certain statements made during this call will be forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, which includes statements regarding potential strategic reviews and our guidance. These forward-looking statements are subject to various risks and uncertainties and reflect our current expectations based on our beliefs, assumptions and information currently available to us.
Although, we believe these expectations are reasonable, we undertake no obligation to revise any statement to reflect changes that will occur after this call. Descriptions of some of the factors that could cause actual results to differ materially from these forward-looking statements are discussed in more detail in our filings with the SEC, including the Risk Factors section of our Form 10-K for the year ended December 31, 2021.
In addition, please note that the company will be discussing certain non-GAAP financial measures that we believe are important in evaluating performance. Details on the relationship between these non-GAAP measures to the most comparable GAAP measures and reconciliation of historical non-GAAP financial measures can be found in the press release that is posted on the company's website.
I would now like to hand the conference call to Mr. Jeff Arnold. Jeff, please go ahead.
Jeff Arnold
Thank you all for joining us this morning. For the third quarter of 2022 we delivered revenue of $114.6 million and adjusted EBITDA of $7.2 million, reflecting our continued momentum across the business. During the quarter, we executed on our strategy as evidenced by signing a multi-year strategic agreement with Carelon, the healthcare service subsidiary of Elevance Health, expanding our EBITDA margin, reducing our cash burn and tracking to hit our core KPIs of $12 million eligible lives and $6 million medical records processed by year-end.