Sarcos Technology and Robotics Corporation (NASDAQ:STRC) Q3 2023 Results Conference Call November 14, 2023 4:30 PM ET

Company Participants

Julie Kegley - IR, Financial Profiles

Laura Peterson - President and CEO

Drew Hamer - CFO

Conference Call Participants

Rob Mason - Baird

Operator

Good day, and thank you for standing by. Welcome to the Q3 2023 Sarcos Technology and Robotics Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Julie Kegley, with Financial Profiles, for Sarcos. Please go ahead.

Julie Kegley

Thank you, operator. Good afternoon, everyone, and welcome to the Sarcos Technology and Robotics Corporation third quarter 2023 earnings call.

Joining us on the call this afternoon are Sarcos’ President and Chief Executive Officer, Laura Peterson; and Chief Financial Officer, Drew Hamer. Laura will start the call with a discussion of business highlights from the third quarter and recent events, and Drew will then talk in more detail about the financial results, before they take analyst questions.

Before we begin, we must state that today’s call will contain forward-looking statements, including statements concerning future commercial production, release and availability of our products, product usage, features, capabilities and value propositions; target markets and market trends, size and expectations, strategic direction, company facilities, customer demand and future financial results, conditions and cash flows, including future costs and cost trends, cash usage, restructuring charges and liquidity. These statements represent management’s beliefs and expectations as to the future events as of today, but there are many risks and uncertainties that could cause actual results to differ from what we have projected.

Among those risks and uncertainties are those described in our report on Form 10-Q filed today with the SEC and those mentioned in today’s earnings press release, both of which are available on the SEC’s website and in the Investors section of our website at sarcos.com. We encourage you to review the risks and uncertainties described in the press release and 10-Q and in our other filings with the SEC for further information regarding these actual potential risks and uncertainties. We also encourage you to review the special notes regarding forward-looking statements included in the earnings release and 10-Q.

In addition, we will be discussing certain non-GAAP financial measures on our call today. Throughout this call, all financial measures will be GAAP, unless otherwise noted. A reconciliation of any non-GAAP measures to the most directly comparable GAAP measures as well as the description, limitations and rationale for such measures are included in the earnings release. A recording of this call will be available on our website until December 14, 2023.