The following is a summary of the Dun & Bradstreet Holdings, Inc. (DNB) Q1 2024 Earnings Call Transcript:
Financial Performance:
Dun & Bradstreet reported Q1 2024 revenue of $565 million, marking a growth rate of 4.5% compared to the previous year's quarter, and 4.1% before the effect of foreign exchange.
Net loss of the company was reduced from $34 million to $23 million.
They demonstrated an Adjusted EBITDA of $201 million, an increase of $11 million or 6%, and an adjusted net income of $85 million, contributing to an adjusted earnings per share of $0.20.
A new share repurchase program of up to 10 million shares was authorized.
Business Progress:
Groundwork in gen AI has strengthened Dun & Bradstreet's position as a provider of high-quality commercial data sets, with ongoing projects involving IBM and Google Vertex AI.
Dun & Bradstreet is focusing on retooling its customer value proposition and sales force, with a specific emphasis on helping small businesses improve their credit score, leading to a 20% increase in data acquisition.
The company has adapted its sales acceleration tool, Hoovers, to provide a small business-friendly version named 'Hoovers Essentials' being cross-sold with their existing offerings.
More details: Dun & Bradstreet IR
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