Glu Mobile CEO Discusses Q3 2010 Results - Earnings Call Transcript
Glu Mobile, Inc. (
)
Q3 2010 Earnings Call
November 02, 2010 04:30 pm ET
Executives
Greg Cannon - VP, Finance
Niccolo de Masi - President & CEO
Eric Ludwig - SVP, Assistant Secretary, & CFO
Analysts
Presentation
Operator
Compare to:
Previous Statements by GLUU
»
Glu Mobile Inc. Q2 2010 Earnings Call Transcript
»
Glu Mobile Inc. Q1 2010 Earnings Call Transcript
»
Glu Mobile Inc. Q4 2009 Earnings Call Transcript
»
Glu Mobile, Inc. Q3 2009 Earnings Call Transcript
Good afternoon. My name is Bonnie and I will be your conference operator today. At this time I would like to welcome everyone to the Glu Mobile third quarter 2010 earnings results conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions) Thank you. Mr. Cannon you may begin your conference.
Greg Cannon
Good afternoon everyone and thank you joining us on the Glu Mobile third quarter 2010 financial results conference call. This is [Greg Cannon], VP, Finance from Glu Mobile. On the call today we have CEO, Niccolo de Masi; and CFO, Eric Ludwig. During the course of this call, we will make forward-looking statements regarding future events and the future financial performance of the company. Generally these statements are identified by the use of the words such as expect, believe, anticipate, intend and other words that denote future events. These forward-looking statements are subject to material risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements.
We caution you to consider the important risk factors that would cause actual results to differ materially from those in the forward-looking statements in the press release and in this conference call. These risk factors are described in our press release and are more thoroughly detailed under the caption Risk Factors in the Form 10-Q filed with the Securities and Exchange Commission on August 9th, 2010.
During this call, we will present both GAAP and non-GAAP financial measures. Non-GAAP measures exclude acquired in-process, research and development, amortization of intangibles, stock-based compensation charges, gain or impairment of auction-rate securities, restructuring charges, the non-equity component of the MIG Earnout, transitional expenses and foreign currency gains and losses primarily related to revaluation of assets and liabilities.
These non-GAAP measures are not intended to be considered in isolation from, a substitute for or superior to our GAAP results and we encourage investors to consider all measures before taking an investment decision. For complete information regarding our non-GAAP financial information, the most directly comparable GAAP measures and a quantitative reconciliation of those figures, please refer to today’s press release regarding our third quarter results.
The press release also has been furnished to the SEC as part of a Form 8-K. In addition, please note that the date of this conference call is November 2nd, 2010 and any forward-looking statements that we may make today are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of future events.
Lastly, this conference call is a property of Glu Mobile and any recording, reproduction or rebroadcast of this conference call without the expressed written permission of Glu is strictly prohibited.
With that, I will turn the call over to Niccolo. Niccolo?
Niccolo de Masi
Good afternoon and thank you everyone for joining us today. I'd like to begin by announcing that Ben T. Smith, IV a pioneer in the freemium mobile gaming space has joined our board effective today. Ben was one of the earliest investors in Tapulous and Mesmo and provided leadership to the Tapulous board through its sales to the Walt Disney Company earlier this year.
He is also an investor and Board member in a number of other social platforms including as co-founder of MerchantCircle.com and Spoke Software. We look forward to benefiting from his insights and support. On my first earnings call with Glu this past February we settled a strategic direction for Glu focusing on freemium, social, persistent games that can reach all smartphones and tablets.
We’ve been hard at work ever since bringing in and integrating the new DNA that we needed, retooling teams and processes. In Q2 and Q3 we launched updated versions of our earlier iPhone games with freemium retrofitting social features, micro transactions, offers and ads. Our confidence in operating games as a persistent service has grown. Monthly active users for the month of September were over 4.2 million.
Per our plan, we launched Gun Bros, last Thursday our first of five social freemium titles that we plan to launch in Q4. As many of you may have already seen, Gun Bros previewed strongly in Q3 and has thus far been downloaded more than 490,000 times. It is currently ranked at number four in top three apps in the U.S. Apple Apps store. Our first freemium product Toyshop Adventures went live on October 20th and has been downloaded over 680,000 times. It is currently ranked number 13 in top three apps. Four more freemium social titles will be launching for the holidays including Magic Life which we previewed in Q3.
Three new titles will be unveiled at a launch event in San Francisco on November 11th. All of our Q4 products will be available on the iPad and Android phones a few weeks after their initial iPhone launch. In Q1, we believe we will be able to achieve simultaneous launches on iPhone and iPad.
Glu game availability for all iOS and Android smartphones and tablets significantly expands the potential for virility and social functionality. The universe of friends Glu gamers can invite to play with or against [leachers] creatures across operating systems, carriers, devices and geographies. We will further expand coverage as other smartphone operating systems and devices gain comparable traction with end consumers.
Read the rest of this transcript for free on seekingalpha.com
