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Shift Technologies, Inc. (SFT) Q4 2022 Earnings Call Transcript

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Shift Technologies, Inc. (SFT) Q4 2022 Earnings Conference Call March 28, 2023 5:00 PM ET

Company Participants

Susan Lewis - VP, IR

Jeffrey Clementz - CEO & Director

Oded Shein - CFO

Conference Call Participants

Richard Reid - Wells Fargo Securities

Michael Baker - D.A. Davidson & Co.

Marvin Fong - BTIG


Good day, and welcome to the Shift Technologies, Inc. Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Ms. Susan Lewis, Vice President of Investor Relations. Please go ahead, ma'am.

Susan Lewis

Good afternoon, and welcome to the Shift Technologies Fourth Quarter and Full Year 2022 Earnings Call. Joining me on the call today is CEO, Jeff Clementz; and CFO, Oded Shein.

During our remarks, we will make some forward-looking statements, which represent our current judgment on what the future may hold. And while we believe these judgments are reasonable, these forward-looking statements are not guarantees of future performance and involve certain assumptions, risks and uncertainties. Actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements.

Please refer to our filings with the SEC for a full discussion of the factors that may affect any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise after this conference call.

During the course of the call, we will be referring to non-GAAP measures as defined and reconciled in our earnings materials.

With that said, I will now turn the call over to Jeff.

Jeffrey Clementz

Thank you, Susan, and good afternoon, everyone. 2022 was a year of significant change for Shift. Given auto industry and capital market dynamics, we adjusted our strategy to prioritize balance sheet health, reduce cash burn and accelerate our path to profitability.

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