CarParts.com, Inc. (NASDAQ:PRTS) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET
Company Participants
Tina Mirfarsi - Senior Vice President of Global Communications & Culture
David Meniane - Chief Executive Officer
Ryan Lockwood - Chief Financial Officer
Michael Huffaker - Chief Operating Officer
Conference Call Participants
Ryan Sigdahl - Craig-Hallum Capital Group
Ryan Meyers - Lake Street Capital Markets.
Operator
Good afternoon. [Operator Instructions] Please note this call is being recorded. I would now like to pass the conference over to our host, Tina Mirfarsi, Senior Vice President of Global Communications and Culture. Please go ahead.
Tina Mirfarsi
Hello everyone, and thank you for joining us for the CarParts.com Second Quarter Conference Call. Joining me today are David Meniane, Chief Executive Officer Ryan Lockwood, Chief Financial Officer and Michael Huffaker, Chief Operating Officer.
Before I turn it over to David to start the meeting, I have some important disclosures. The prepared remarks and responses to your questions could contain certain forward-looking statements related to the business under the federal securities laws. Actual results may differ materially from those contained in or implied by these forward-looking statements due to risks and uncertainties associated with the business.
For a discussion of the material risks and other important factors that could affect results, please refer to the CarParts.com annual report on Form 10-K and 10-Q as filed with the SEC, both of which can be found on our Investor Relations website.
On the call, both GAAP and non-GAAP financial measures will be discussed. A reconciliation of GAAP to non-GAAP financial measures is provided in the CarParts.com press release issue today, and with that, I would now like to turn the call over to David.
David Meniane
Thank you, Tina, and thanks everyone for joining us today. I'd like to start with the most important takeaways from this quarter before I turn it over to Ryan to review our financial performance in detail.
Last quarter, we discussed our emphasis on financial discipline by focusing on driving gross and net margins, accelerating efficiency and effectiveness to quickly deliver improved profitability, and achieving a path to sustainable and profitable growth with strong long term free cash flow.
In the second quarter, we made significant progress on gross margin and operating efficiencies, which reinforces our confidence that we're on the right track. We expect fiscal year 2024 to be a low watermark year as we execute on the changes we have been making.