FatPipe, Inc.

Good afternoon and thank you for joining FADPipe's earnings conference call. Before we begin, I would like to remind everyone that today's discussion may include forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding FADPipe's expected financial performance, business strategy, growth opportunities, customer demand, Product Development, Recurring Revenue Initiatives, Market Position and Future Operating Results. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. For a discussion of important factors that could affect FatPipe's actual results, please refer to the risk factors and other disclosures contained in the company's filings with the Securities and Exchange Commission, including its most recent annual quarterly reports, current reports, and other SEC filings. Any forward-looking statements made on today's call speak only as of today's date, except as required by law. FabWeb undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. And during today's call, we may also discuss certain non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most structurally comparable GAAP measures where applicable are included in today's earnings release and related materials available through the company's investor relations website and SEC filings. With that, I will turn the call over to management.

Thank you very much, Vikrant. I appreciate it. Vikrant is our director of CorpDev and investor relations. Sitting along with me in the room today is Sanch Datta. She's the co-founder of the company, CTO, and now the president of the company. We like to let all of you know that Sanch is a major player in this company, directing all of engineering and also assisting in customer relationships and product management. Today, as you can see on the screen, Vikrant is this screen being shared. Yes, it is. Thank you. So our sales has grown about 27% and income has gone up around 65%. And we are happy to let you know that the earnings per share has gone up to 9 cents a share from 5 cents a share the previous year. and as we grow and we start doing bigger deals, obviously the margin falls a little bit, but not by a lot. It's still around 92, 93%. So overall, we had a good quarter coming on the back of a previously very large quarter. We are very thankful to our employees, our partners and our customers who are continuing to support us in our endeavor to be the very best company in this space in terms of product and in terms of support and management of customer relationships. As you'll see in the next slide, our products have been recognized for their contributions to the technology space. And this is Channel Vision, the largest channel partner show in the United States or probably in the world. And we got an award for our product offering. We have been able to successfully convert customers from other vendors such as VeloCloud. We have an active VeloCloud conversion program. VeloCloud is a company that became part of two different large companies and since then we have been able to win customers who are using those products. I'll show you as a sample are here. This is Infotech. They are about a 4,000-person data analytics company. And as you can see, the third or fourth year in a row, our products have distinguished themselves sharply compared to everybody else, whether it's Cisco, VMware, or any of the other big boys. And on the right, you see in every category, we have a very good rating, top of the chart. We also like to pick one competitor and show you the comparison in a Gartner survey. This is a Gartner survey of customers, end customers. We have not paid Gartner for any of this. These are pure rankings by customers. As you can see here, we beat out Cisco's products in this space. and 97% of customers said they will recommend FatPipe. So this gives you an idea of our product offering and what we do in this space. We have been fortunate. We have been developing new products. We earlier released a cybersecurity product and now that's going into various customers, quotations and more marketing. and this year, this quarter is one of the first quarters where we spent a significant amount of money in developing our partners, marketing, trade shows and related travel. And that is helping us a lot. For instance, in Las Vegas at Channel Vision, we hosted a happy hour. at one of the bars, and we thought we needed only a quarter of the space. We ended up occupying the entire bar, and about 120 people, partners, showed up. And that is becoming an event by itself, because last year we had 80, and the previous year we had about 40. So we are finding that our name is getting out there, which also means that more partnerships to come. With that, I will open it up for any questions. Vikrant, Kanishka, if you want to add any more to this conversation.

If you have any questions, please feel free to put them in chat and raise your hand and we can answer them live. Looks like the first question is coming from Lisa Thompson from Zacks. Let me see if I can bring you into the room. Lisa, you are now unmuted. Please ask your question.