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iPass Inc. (IPAS)
Q3 2012 Earnings Call
November 7, 2012 5:00 p.m. ET
Anitha Gopalan - Director, Finance & Investor Relations
Evan Kaplan - President & Chief Executive Officer
Steven Gatoff - SVP & Chief Financial Officer
Marc Silk - Silk Investment Advisors
Fred Ziegel - Topeka Capital Markets
Kevin Henehan - KMH Capital Advisors
Scott Searle - Unterberg Capital
Previous Statements by IPAS
» iPass' CEO Discusses Q2 2012 Results - Earnings Call Transcript
» iPass CEO Discusses Q1 2012 Results - Earnings Call Transcript
» iPass's CEO Discusses Q4 2011 Results - Earnings Call Transcript
» iPass CEO Discusses Q3 2011 Results - Earnings Call Transcript
Thanks, operator. Good afternoon everyone and welcome to iPass’s third quarter 2012 earnings conference call. This is Anitha Gopalan, Director of Finance and Investor Relations. I’m here today with Evan Kaplan, President and CEO of iPass, and Steven Gatoff, our CFO.
We have distributed our Q3 earnings release over the wire services and have posted it on our website at investor.ipass.com. We would also like to bring to your attention that starting this quarter we have introduced and posted a quarterly earnings appraisal on our IR site, along with an updated company presentation to provide investors with specific information on our quarterly results.
This call is being webcast at investor.ipass.com and a replay will 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 expressed prior written consent of iPass is prohibited.
Before we get started, we want to emphasize that some of the information and statements you will hear during our discussions today will consist of forward-looking statements, including without limitations, those regarding our expected performance of the business, revenue and operating targets. These statements involve risk and uncertainty that could cause actual results to differ materially. These forward-looking statements reflect our opinion only as of the date of this presentation and we undertake no obligation to revise or publicly release the results or make any revisions to these forward-looking statements in light of new information or future events. Please refer to our SEC filings for a more detailed description of the risk factors that may affect our results.
On this call, we will also provide and talk about our results using non-GAAP financial measures. Our GAAP results and reconciliation of non-GAAP to GAAP measures can be found in our earnings press release.
Before I turn the call over to Evan, we would like to note for you that management will be meeting with investors and analysts in New York during the week of November 12 and we will be presenting at the IDEAS Investor Conference on November 14 in Dallas. At the LD Micro Conference on December 5 in Los Angeles and at Needham Growth Conference in January 2013 in New York. Along with the investor conferences, management will be present at the Wireless Broadband Alliance, WBA Wi-Fi Global Conference that is currently in progress in San Francisco. And also at the Mobile Roaming World Summit on November 13 and 14 in London.
Evan and other team members will be providing on the growing role of Wi-Fi and our role in defining operator strategies, providing insights and contributing the emerging Wi-Fi roaming business models. If you are interested in connecting with us, please feel free to send us an email at email@example.com.
With that, I would like to turn the call over to Evan.
Thanks, Anitha. Good afternoon everyone. It’s good to talk to you today. Thanks for joining us. As we make our way through the fourth quarter and continue to drive forward focused on some key milestones, we feel like it’s important to benchmark where we are at in the development of our business. The transition from legacy to Open Mobile and what we see going forward from an operating and financial perspective, both in the near term and looking out into 2013.
To that end, I would like to cover three things on the call today. First, I want to give you some color on the underlying fundamentals that are driving our increasing bullishness on our opportunity broadly, and the return to the growth of our core Wi-Fi business specifically. Second, I want to share some insights and details around our progress this past quarter in advancing our Open Mobile enterprise, our Open Mobile exchange and our managed network service businesses.
And third, I would like to give you some early thoughts on the road ahead and how we see things playing out in Q4 and into next year. Before I jump into that I want to share with you some of my excitement coming out of the Biannual Wireless Broadband Alliance or WBA meeting that I spoke at yesterday. The event is taking place in San Francisco and it brings together the key stakeholders driving the rapidly expanding Wi-Fi ecosystem.
As you would expect, the conference has been growing significantly over the last few years but this was the largest to date, and from the perspective of the participants, me included, it was particularly exciting and energizing. While there I had the opportunity to meet with fixed operators, cable operators, mobile operators, independent Wi-Fi providers, software platform and network equipment suppliers. All the key participants from around the world, an interesting many of whom are already our partners.
The excitement was palpable because everything is in motion. Consumer demand, user growth, device proliferation and importantly, network footprint, are all on the rise for the foreseeable future as Wi-Fi expansion both disrupts and complements traditional mobile operators, as all players attempt to deal with the unrelenting growth of data in our increasingly connected world.