Aeries Technology, Inc.

Good day and welcome to the ARIES Technology Fiscal Third Quarter 2024 Earnings Conference Call. All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Ryan Gardella. Please go ahead.

Good afternoon, and welcome to Aries Technologies' third fiscal quarter 2024 earnings call. Joining us from the company is Chief Executive Officer and Co-Founder of Aries, Sudhir Panikvasuri, Chief Financial Officer, Rajiv Naira, and Chief Investment Officer Daniel Webb. Today's call will begin with scripted remarks and will then open to participants for questions. As a reminder, this conference call contains statements about future events and expectations which are forward-looking in nature. Statements on this call may be deemed as forward-looking and actual results may differ materially. Words such as believe, estimate, and expect, as well as similar expressions, are intended to identify forward-looking statements. For a full list of risks inherent to the business and the company, please refer to the company's SEC filings and earnings press releases. ARIES undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances that occur after the call. Today's call and webcast will include non-GAAP financial measures from the meaning of SEC Regulation G. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, GAAP measures. When required, reconciliations of all non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP can be found in the earnings release or other materials available on the company's website.

With that, I'd like to turn the call over to Sudhir. Thank you, Operator, and thank you, everyone, for joining us here again. As many of you already know, my name is Sudhir Panikkashery, and I'm the CEO and co-founder of ARIES. Today I would like to walk you through some financial highlights and high-level commentary before passing it off to Daniel Webb, Chief Investment Officer, for details on some of our new customer deployments in the quarter. I'm pleased with our end to the calendar year and happy to report that this quarter's revenue of $18.9 million exceeded our outlook, while our adjusted EBITDA result of $2.4 million was in line with our outlook. For our third fiscal quarter, revenues were 18.9 million, representing 49% growth year over year, all of which was driven by new clients entering the ARIS platform. For the first three quarters of our fiscal year, revenue was 52.8 million, representing a 39% increase over the first three quarters of our prior fiscal year. Our fiscal year-to-date growth was driven by a combination of new clients on the ARIS platform, as well as additional spend from existing clients. Clearly, we are executing our growth strategy exactly as intended and are seeing strong momentum in new client acquisition. And in fact, we have already exceeded our internal bookings forecast for the current quarter with over a month left to go. North America remains our strongest and target market, representing approximately 77% of our revenue in the quarter and fiscal year to date. I'm also pleased to announce that we have opened a new center of excellence in Mexico during the quarter, which will allow us to better service our North American customers with 80s professionals working within the same time zones. With over 100 Aries professionals currently in Mexico and growing, we view building out our presence in Mexico as a high priority initiative to support a strategy that is of increasing importance and popularity among private equity sponsors and their portfolio companies called dual-shoring. Dual-shoring refers to a combination of near-shoring in locations such as Mexico while retaining centers of excellence in India in order to maintain 24x7 coverage while significantly reducing costs. We will continue to build out our nearshoring capabilities for clients and believe this trend will continue to be a driver of business in the future. I'm also pleased to announce that we opened two centers of excellence for two separate clients in Bangalore during the quarter. representing additional Aries professionals primarily in the digital transformation and business process optimization spaces. As Rajeev will mention, the work mix of our new customers have been trending towards digital transformation, AI, and analytics, which has a positive effect on our gross margins and speaks to the cutting-edge transformative nature of the work that Aries professionals are performing for our clients. And with that, I would like to turn the call over to Daniel Webb, Chief Investment Officer, to discuss some details of new client deployments. Daniel?