NETSOL Technologies Inc.

Good afternoon. Welcome to the NetSol Technologies Fiscal Fourth Quarter and Full Year 2021 Earnings Conference Call. On the call today are Najeeb Ghori, Chairman and Chief Executive Officer, Roger Almond, Chief Financial Officer, Patty McGlason, General Counsel, and Murad Beg, CIO of Autos. I would now like to turn the conference over to Patty McGlason, who will provide the necessary cautions regarding the forward-looking statements made by management during this call. Please proceed.

Good afternoon, everyone, and thank you for joining us. Following a review of the company's business highlights and financial results, we will open the call for questions. I'll now provide the necessary cautions regarding the forward-looking statements made by management during this call. Please note that all the information discussed on today's call is covered under the safe harbor provisions of the Private Securities Litigation Reform Act. The company's discussion may include forward-looking statements reflecting management's current forecast of certain aspects of the company's future and of our actual results. And our actual results could differ materially from those stated or implied. These forward-looking statements are qualified by the cautionary statements contained in Netsol's press releases and SEC filings, including our annual report on Form 10-K and quarterly reports on Form 10-Q. I would also like to point out that we will be discussing certain non-GAAP measures. The press release issued earlier today contains a reconciliation of these non-GAAP financial results to their most comparable GAAP measures. Additionally, the company has posted a presentation to accompany the remarks we plan on making to make on today's call in the investors section of our corporate website. Finally, I would like to remind everyone that this call will be recorded and made available for replay at www.nedsaltech.com and via link available in today's press release. Now, I would like to turn the call over to Najeeb. Najeeb?

Thank you, Patty, and good afternoon. As I speak to you today, we find ourselves close to being on the other side of what has been an eventful 18 months for everyone. Of course, we are continuing to monitor the latest developments and the potential impact from the COVID-19 Delta variant, but I do think we are close to seeing light at the end of the tunnel. I'm calling in today from our Calabasas headquarters where we're still working at a reduced capacity. Over the past few months, we have implemented a staggered alternate day and office plan that has allowed us to keep moving along without missing a beat. Our offices around the globe are continuing to operate partly remotely in accordance with regional mandates. I know I speak to our entire organization when I say I'm looking forward to a time soon when we can all be back together. Looking at our operations, while we are still facing a number of industry and macroeconomic headwinds, we continue to make incremental progress across our business regions as a global economy and broader leasing and financing industry slowly but surely begins to reopen. Looking at the headline numbers, we improved our top-line performance in each quarter of the year, all while making significant adjustments to our spending in the face of a travel-restricted sales environment. Our owner-centric emphasis on managing the business has yielded positive results in several key areas highlighted by a 154% increase in operating income for the year and a record cash position of nearly $34 million. Additionally, subscription and support revenues have now eclipsed a $20 million annual run rate, further validating our investment in a recurring revenue model and providing us stronger visibility into future performance as well. And while we are continuing to pursue high-value, larger deals with incumbent OEMs, our ability to grow a healthy recurring revenue base will allow us to grow our business more predictably over time while still maintaining the opportunity for upside. We also generated over $2.5 million during that period and more than $7.7 million throughout fiscal 2021 by successfully implementing change requests from various customers across multiple regions. These kind of data points support our belief that the long-term industry trends remain in our favor and we have a diversified approach to growth that is now starting to materialize as the world begins to reopen. Looking ahead, with a leaner cost structure to support increased sales and marketing activities, we are making investments to build for long-term success in our key growth markets. We're also entering fiscal 2022 with a record cash position of nearly $34 million, and we'll be looking to deploy our significant resources toward a number of high-value projects in the coming months. As one example, Thanks to the efforts of several key new hires made earlier in the year, we've been able to improve our lead generation processes. Our North American and European pipelines have shown continued outsized promise, and we are now starting to see some of these pending deals come to fruition, most notably shown by our first NFA dissent contract in the U.S., which we announced back in August. The pandemic has made it clear that all businesses need to have a sound digital strategy, and we are confident that we will benefit from this transition as customers continue to transform processes and future-proof their businesses. I'll now hand the call over to our CFO, Roger Arman, who will walk us through the financial results for the quarter and year. After that, I'll provide an operational update and outlook before turning the call over to questions. Roger?