Ladies and gentlemen, thank you for standing by, and welcome to CDK Global's Q2, 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star then one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star then zero. I would now like to turn the conference over to your speaker for today, Reuben Gallegos. You may begin. Thank you and good afternoon. I'd like to welcome you to our second quarter fiscal 2022 earnings call. Joining me on today's call are CEO Brian Krzanich, Chief Operating Officer Joe Tautges, CFO Eric Guerin, and Mahesh Shah, our Chief Product and Technology Officer. Following their prepared remarks, we'll be taking questions. Our earnings press release was issued after the close of the market today and is posted on our investor relations website at investors.cdkglobal.com, where this call is being simultaneously webcast. In addition, our website includes an updated Excel schedule of supplemental financial information and a copy of our results presentation that we will be referencing during our prepared remarks. Throughout today's call, we will be discussing our continuing operations only which do not include the international business results, which are presented as discontinued operations. Unless otherwise noted, all references to financial amounts during our call are on a non-GAAP adjusted basis. Reconciliations of adjusted amounts to the most directly comparable GAAP amounts are included in this afternoon's press release. Please also note that all our growth percentages refer to the year-over-year change for that period, unless otherwise specified. I would like to remind everyone that remarks made during this call may contain forward-looking statements. These statements involve risks and uncertainties as further detailed in our filings with the SEC which could cause actual results to differ materially from those mentioned in the forward-looking statements. With that, it's my pleasure to turn the call over to BK. Thanks, Reuben, and thanks to everyone for joining the call today. I hope you have all had a good start to the new year. As we begin the new calendar year and the halfway point for our fiscal year, I'd like to thank our employees, our customers and partners for their contributions to making Q2 another great quarter for CDK. For the second quarter, CDK continued to execute to our expectations with revenue of $437 million, EBITDA of $168 million, and EPS of $0.74 per share which is a remarkable result. Our focus investments in strengthening our core products including significant improvements to our customer service and technology solutions, have distinguished us from the competition and resulted in a 12th consecutive quarter of year-over-year site growth. Now, before I get into some additional commentary on the industry, I wanted to mention that I'm excited that you'll have the opportunity to hear from Mahesh Shah, our Chief Product and Technology Officer, during today's call. Many of you have asked for additional insight on our product roadmap, engineering acquisition integration and the R&D investment required to execute our roadmap. I'm excited about our progress in these areas so this would be a great time to have Mahesh provide some comments and take a few questions at the end of the call. I believe there has never been a more exciting time to be in the automotive industry and several trends are creating new opportunities for CDK to continue to drive innovations that elevate the consumer experience when buying and owning a vehicle. The most significant trend is the demand by consumers to start the buying process online. However, most people still want to finalize the deal in store. In order to meet consumer expectations, OEMs and dealers will need to collaborate and provide a seamless experience and one that transitions easily from digital to physical. A great example of this is our collaboration with Hyundai Motor America. The CDK Roadster solution is being used to connect hyundaiusa.com visitors with its dealer network digital retailing capabilities, leveraging our robust retail APIs and Roadster. Hyundai's new program further streamlines the car buying experience by helping consumers who start their shopping journey at hyundaiusa.com to instantly discover local dealership pricing while seamlessly transitioning them to a local dealership for the completion of the purchase whether online or in store. Another exciting trend that we are driving innovation around is the connected vehicle. According to Statista, 80% of cars sold in the U.S. are now connected and by 2025 this will grow to roughly 100%. Yet in a recent study by CDK, only 58% of shoppers are even aware of connected car technology. This is an area where OEM and dealer collaboration will be essential. Customers are very excited about our work in leveraging artificial intelligence to derive insights at the intersection of connected car data and dealer systems. OEMs and dealers are increasingly using data to provide customers with experiences that predict when a service is needed and even proactively schedule the appointment, creating a seamless car-owning experience. Lastly, I would be remiss if I didn't mention the implications of the growing adoption of electric vehicles. First, let's get grounded on the data. While EV is an exciting future, by 2030, research done by a global consulting firm estimates that only 32% of the new car sales will be EV, and EVs will make up less than 10% of the car park. Change is happening but it's an evolution, and our dealer customers will play a central role. As the EV market scales, traditional OEMs will be the dominant distributor of EVs. Again, based on our research by 2030, 83% of all EVs will be distributed through the dealer networks of incumbent OEMs. These OEMs see the dealer as a strategic competitive differentiator against the direct-to-consumer EV players and will be using their dealer networks to both assist with sales and provide a superior service experience. Now in closing, this is an exciting time to be in the automotive industry. The auto market is large and growing, and we believe dealerships will remain the dominant channel for all car sales. CDK is uniquely positioned at the heart of the automotive ecosystem to connect our industry. Through our technology, we unite dealerships, software developers and OEMs. It's through these connections that we share expertise and facilitate collaboration for the benefit of everyone. Now I'm excited to turn the call over to Mahesh. Thanks, BK, and good afternoon, everybody. I'm happy to join the call today and provide some highlights relating to the investments we've made in our product roadmap over the last couple of years. I'll start by sharing an overview of the architecture, our innovation efforts and provide an update on the progress we have made with acquisition integration over the last 12 months. Hopefully, at the end of this, you'll have a better sense of how these efforts tie together, as well as an appreciation for how they are already impacting customer response and contributing to our financials. I look forward to providing regular updates on these efforts in future earnings calls and in meetings with you over the course of the year. First off, regarding our architectural footprint, we've provided supplemental material this quarter including a slide showing the architecture of our solutions. What we've built over the last two years is a connected cloud platform architecture that is deployed in the cloud and utilizes common building blocks, which are developed by CDK to speed innovation, integration and deployment of new functionality. This concept is not new in software development and a similar model has also been used in the automotive industry with the concept of a common chassis with reusable components that are paired with unique styles, engines, and capability layered on top. In our space, components like document management and e-signature can be utilized by any application using our APIs without having to be built into each application separately. This unlocks a tremendous amount of efficiency we didn't have just two years ago. Data which was once fragmented is now connected, allowing us to deliver insights and to enable a trusted stream of data that is critical to the emerging connected car adoption. Applications which were once siloed with limited workflow capability are now integrated through shared services, making the sales process much simpler for dealers. This is enabled by hundreds of modern APIs that facilitate integration and by a cloud environment that uses standard containers and product images which improve deployment and management of our products while running at scale across thousands of customer sites. The structure I just described is like what other software peers sometimes call a Platform as a Service, and it's central to our efforts to simplify the development and deployment of cloud-based applications. Now turning to our innovation efforts. Using our cloud platform, we are updating our products and moving faster in developing and deploying new software while driving innovation. Platforms are critical as they allow us to leverage reusable components and deliver continuity of information across our products, ultimately simplifying the experiences our customers have with our software. We are using this public cloud-based platform to update our DMS software in areas that benefit our customers' workflow the most and we are driving a very regular quarterly cadence of workflow and interface improvements. For example, we've now deployed several simplifications in our accounting workflows that enable customers to simply capture invoices by taking a picture with a mobile phone and loading them into the system for digital payment. Our Lightspeed product used by customers in powersports, marine, and RVs, has just undergone a significant upgrade and will be migrated to a public cloud over time. The refreshed platform now includes capabilities like embedded tax and e-signature and has led to revenue expansion opportunities in that customer set. On the truck and agriculture side, we are now introducing additional solutions such as Elead CRM, heavy equipment, integrated rental and cybersecurity are helping drive growth. Turning to acquisitions. The architectural work we've completed has allowed us to rapidly integrate our recent acquisitions and benefit our customers who are excited to deploy these new solutions in their dealerships. First off, I'm pleased to say we've integrated Roadster with our product portfolio and are now enabling a simplified sales process for dealers. Last quarter, we mentioned that the engineering teams of Roadster and Elead merged under one leader to help create an efficient development team. These themes have moved rapidly and we're happy with the progress and the resulting positive response from our customers. When using our CDK Modern Retail Suite, we are now able to support a simple online experience where dealer customers can complete a full purchase online or through a seamless and synchronized combination of online and in-store. Through a combination of Roadster and our cloud platform, we have now digitized the entire workflow. Salty has been fully integrated into our portfolio, taking just 30 days to complete. Workflow automation to initiate the insurance process for a vehicle has been seamlessly integrated into the sales process and the product has already been deployed with a number of dealers. This is remarkable given we just closed the deal in Q1. Customer adoption has been brisk and we have seen a significant level of interest from our dealers to deploy in coming months. Neuron has continued to grow and recently added a large U.S. OEM as a customer. Our customers are using our data science capabilities and products, the Performance Suite, and new real-time data APIs that allow OEMs and dealers to gain visibility to critical supply chain data such as inventory and vehicle information, to support sales of new and used vehicles. Neuron is also being leveraged as a built-in component of our core products including within CDK Service, where we have deployed the predictive service capability beginning with the top five OEM. The pipeline is healthy for FY 2022, which will add to a healthy customer base of OEMs, dealers, and automotive ISVs. Fortellis is critical to executing our strategy to become the enabler of product innovation and Fortellis capabilities are foundational to our modernization efforts, providing an efficient way for us to enable the benefits of our open architecture approach. In addition to internally focused benefits, we continue to add new APIs and applications into our Fortellis marketplace both from CDK and third parties and connect them into our customer workflows, enabling a faster pace of innovation for our customers. We believe this will allow us to be much more agile in meeting our customers' needs today and tomorrow and will differentiate us as many OEMs and dealers look to pare back the number of software providers they use in order to lower the complexity and cost of their operation. The traction we've seen has been remarkable and gives us confidence this platform is resonating with our customers and partners as a prime resource for software development and innovation for the automotive industry. I'm proud of what we have built over the last few years. As I look into the next few quarters, we will continue to invest in innovation efforts which allow us to execute our roadmap while keeping R&D expense as a percent of revenue at current levels which I think are healthy and sustainable. I'm excited about the ongoing innovation this will introduce for our customers in the coming year, and I look forward to meeting with you again soon. Now, I'll turn the call over to Joe. Thanks, Mahesh, and welcome everyone to the call. I want to start by adding some context around the strategy and technology update that BK and Mahesh covered earlier with respect to our go-to-market activities. We are proud of the performance we had this quarter, with revenue growth of 7.5%. Our growth is being driven through leveraging the deep customer relationships built by our sales organization.
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