iPass, Inc. (IPAS)
Q4 2010 Earnings Call
February 17, 2011 5:00 PM ET
Steven Gatoff – CFO
Evan Kaplan – President and CEO
Frederick Ziegel – Blue Water Capital Markets
Mark Silk – C. Silk and Sons
Kevin Hanrahan – KMH Capital Advisors
Justin Orlando – Dolphin Management
Good day and welcome to the iPass Q4 2010 Earnings Conference Call. Today’s conference will be recorded.
At the end of today’s call, we will take questions. (Operator Instructions)
At this time, I would like to turn the conference over to the company.
Previous Statements by IPAS
» iPass CEO Discusses Q3 2010 Results – Earnings Call Transcript
» iPass Inc. Q2 2010 Earnings Call Transcript
» iPass Inc. Q1 2010 Earnings Call Transcript
Before I turn the call over to Evan, I’d like to bring the following to your attention. For starters, our conference call provider had some technical difficulties that impact our Q&A on last quarter’s call. Just to let you know, we switched to another conference provider and are doing things differently so that the Q&A will run smoothly.
Please note that you can also email any questions to firstname.lastname@example.org. We did a dry run 2 days ago and it all worked beautifully, so off we go. The date of this call is February 17, 2011.
Our discussion today contains forward-looking statements about events and circumstances that have not yet occurred. Statements regarding our projected financial results for the first quarter of 2011 and the full-year 2011, statements containing words such as, will, expect, believe, plan, intend and should, and other statements in the future tense are forward-looking statements.
Actual outcomes and results may differ materially from expectations contained in these statements due to a number of risks and uncertainties, including the risks and uncertainties set forth in today’s press release as well as in our most recent quarterly report on Form 10-Q and annual report on Form 10-K under the section, risk factors that are filed with the Securities and Exchange Commission. These reports are available on our website and at www.sec.gov. Please note that iPass undertakes no responsibility to update the information in this conference call under any circumstances.
On this call, we will also provide and talk about our results using non-GAAP financial measures. The press release and our website include text and tables that explain how we define and calculate the various non-GAAP metrics and the reconciliation of non-GAAP results to GAAP results.
The press release and Form 8-K announcing our financial results are available on our website at www.ipass.com. This earnings call is being recorded for replay. It is being webcast and will also be available on our website for one quarter until the next earnings call. Please note that this webcast is the property of iPass and any copying or rebroadcast without the express prior written consent of iPass is prohibited.
With that, I’d like to turn the call over to Evan.
Thanks, Steven. Good afternoon, everyone. Thanks for joining the call.
Before I jump in to my commentary, I want to take the opportunity on this kick-off call of the year to provide, in addition to the consistent narrative about our performance for the quarter, little more expansive discussion about the changes we’re seeing in the mobility market, how it’s impacting us and what we think it means. Hope you find that useful.
With that, let me start by saying that I edited some of my comments here on a flight back from Barcelona yesterday where I attended Mobile World Congress. Mobile World Congress is the largest gathering of mobile telecom companies and their suppliers globally. I was there to meet with customers and partners and I want to try relate to you some of my enthusiasm on the massive changes that are happening in our marketplace and the increasingly important role that iPass can play working with enterprises, global telecom companies to help them address their pain points and take advantage of their opportunities.
Particularly exciting for us is the increasing recognition of the importance of Wi-Fi for mobile network providers. We see the activity and it feels like we’ve begun what some are calling the second wave of Wi-Fi. It’s a great dynamic, and I’ll talk to you more about it in a few minutes.
Looking at the company results for a moment, I’m pleased that we’re coming off a better than expected Q4 performance, but the far more important takeaway is the business is beginning to get some real traction around open mobile and signing deals with enterprise customers and, importantly, with carriers.
With that in mind, let me begin with three takeaways that I want you to leave the call with. First, we believe there are important material and compelling themes in the enterprise mobility and global network connectivity markets that are playing out really well for iPass. Second, we’re pleased with the solid financial results for Q4 and third, we’re bullish on what we’re doing and excited about the 2011 – about 2011 and look forward to the important milestone if we’re turning to growth for the company as we exit this year.
First, let’s begin by talking about the important evolution that’s going on in the enterprise mobility and network connectivity market. These are playing to iPass’ core competencies, our set of unique assets on our overall strategy.