Asure Software Inc

Good afternoon and welcome to Assure's first quarter 2024 earnings conference call. Joining us today for today's call are Chairman and CEO Pat Geppel, Chief Financial Officer John Pence, and Vice President of Investor Relations Patrick McKillop. Following their prepared remarks, there will be a question and answer session for the analysts and investors. I would now like to turn the call over to Patrick McKillop for introductory remarks. Please go ahead.

Thank you, operator. Good afternoon, everyone, and thank you for joining us for Assure's first quarter 2024 earnings results call. Following the close of the markets, we released our financial results. The earnings release is available on the SEC's website and our investor relations website at investor.assuresoftware.com, where you can also find the investor presentation. During our call today, we will reference non-GAAP financial measures which we believe to be useful to investors and exclude the impact of certain items. The description and timing of those items along with a reconciliation of non-GAAP measures to their most comparable GAAP measures can be found in our earnings release. Today's call will also contain forward-looking statements that refer to future events and as such involve some risks. We use words such as expects, believes, and may to indicate forward-looking statements. and we encourage you to review our filings with the SEC for additional information on factors that could cause actual results to differ materially from our current expectations. I will hand the call over to Pat in a moment, but I just want to take a moment to remind folks of our upcoming investor relations activities. On May 15th, we will attend the 19th Annual Needham Tech Media Consumer Conference in New York. On May 16th, we will attend the Jefferies HCM Summit in New York. On May 29th, we will attend the 21st Annual Craig Hallam Conference in Minneapolis. And on May 30th, we will attend the 52nd Annual TD Cowen Tech Media Telecom Conference in New York. On June 4th, we will attend the Stifel Cross-Sector Insight Conference in Boston. And finally, we will participate in the Northland Capital Markets virtual growth conference on June 25th. Investor outreach is very important to usher and I would like to thank all those that assist us in our efforts to connect with investors. Finally, I would like to remind everyone that this call is being recorded and it will be made available for replay via a link available on the investor relations section of our website. With that, I would now like to turn the call over to Pat Geppel, Chairman and CEO.

Thank you, Patrick, and welcome everyone to Assure Software's first quarter 2024 earnings result call. I am joined on this call by our CFO, John Pitts, and we'll provide a business update for our first quarter 2024 results, as well as our outlook for 2024. Following our remarks, we will be available to answer your questions. Our first quarter revenues were strong, coming in at $31.7 million. Our revenues were driven by our contributions from our core business, strategic initiatives, and acquisitions, including our Assure Marketplace offering, payroll tax management, and interest earned from funds held for clients, which we refer to as floats. We believe in 2024, our momentum will grow throughout the year and we're off to a great start. Advancing our business through artificial intelligence, new technology enhancements, leading partnerships, and strategic sales initiatives such as bundling of our 401k products with payroll to drive new client additions continues to be part of our strategy. Small businesses in the U.S. have traditionally not been or not had the resources to offer 401k retirement solutions. The SECURES Act 2.0 from the U.S. government is legislation that aims to increase employee participation in retirement plans by offering tax credits to support the setup of employer-based retirement plans. Currently, there are around 20 or more states in the United States that have mandated these plans. Also, many more have introduced legislation mandating 401K plans for our small businesses. Assure has the solutions they need to set up the plans. Our announcements with Workday and the certification and joining the SAP Partner Edge Open Ecosystem are really strong validations of advancing our technology, and these partnerships will help us with more enterprise-level clients. In today's press release, we highlighted that after receiving the Workday certification, we went live with our first client, which is a Major League Baseball team. This client is an example of the complexity of multi-state payroll as the staff and team members incur payroll tax liabilities in multiple states each week. We're excited to win this business and look forward to achieving more opportunities with Workday. We also remain excited about our partnership with SAP, which allows us to enhance our payroll tax engine by integrating with the SAP system and streamlining payroll tax processes for our existing SAP clients. We have also recently formed a partnership with a tax credit firm, HR Logics, which will provide our small business clients with access to capital. The partnership will help small business owners with identifying employer tax credits that many are unaware of, such as work opportunity tax credits, research and development, and overall tax credit programs. Our sales bookings help drive growth and repetitive revenue for the quarter, Our pipeline is strong as we grow our product portfolio and enhance our technology. We are supporting our sales efforts with digital marketing, and we believe we'll drive higher level of sales leads and productivity in 2024. Based on our current business trends, we're reiterating our 2024 revenue guide of $125 to $129 million with adjusted EBITDA margins of 20% and 21%. As a reminder, this 2024 guidance excludes any potential contributions from ERTC filing, but does include our plans to continue to make acquisitions and grow organically. Our guidance for 2024 implies a 25% growth rate if we exclude ERTC from 2023 revenues for comparison. I would like to hand it off to John to discuss our financial results in more detail as well as our Q2 guidance. John?