ACCESS Newswire Inc.

Ladies and gentlemen, thank you for standing by and welcome to the Issuer Direct Corporation third quarter 2024 earnings conference call. My name is John and I am your host of today's earnings call. I'd like to remind you that statements made in the conference call concerning future revenues results from operations, financial position, markets, economic conditions, product releases, partnerships, and any other statements that may be construed as a prediction of future performance or events are forward-looking statements, which may involve known and unknown risks and uncertainties and other factors, which may cause actual results to differ materially from those expressed or implied by such statements. Non-GAAP results will also be discussed on the call. The company believes the presentation of non-GAAP information provides useful supplementary data concerning the company's ongoing operations and is provided for informational purposes only. With that said, it's my pleasure to introduce the company's founder and chief executive officer, Brian Balvernie, and our chief financial officer, Steve Nur.

Brian?

Good afternoon, everyone, and thank you for joining us today to discuss the company's third quarter 2024 results. Our press release, which is accessible in our newsroom, was just released pre-market this morning and provides key takeaways to our performance for the quarter, and nine months end at September 30th. Despite a decrease in overall revenues for the quarter, we made significant strides in our transition towards a reoccurring revenue model, focused on our new media suite products in the third quarter. This shift contributed to a rise in total subscriptions, reaching 1,121 by the end of the quarter, a 9% increase from the previous quarter and 7% year over year. As a result, our annual reoccurring revenue grew by nearly 1 million compared to the prior quarter and over 1.4 million compared to last year. Customers' average revenues per subscriber also grew 7% year-over-year to 10,114 per customer from 94.77. As we have mentioned in previous calls, we believe we can continue to increase our ARR for the foreseeable future. Later in the call, we will discuss the additional KPIs we are tracking for the business this quarter and going forward. As we round out our go-to-market offerings for 2025, we are going to continue to focus the remainder of the year as well as selling our subscription platforms to our current install base. Beginning next year, we will fully market both our refined brand and our subscription business to both public relations as well as investor relations professionals under one platform. There's a lot more to talk about today, so I will turn the call over to Steve to cover the quarterly highlights. Steve?