VIQ Solutions Inc.

Good morning, ladies and gentlemen. My name is Chantal and I'll be your conference operator. Today we are hosting a conference call to discuss the second quarter 2022 financial results for VIQ Solutions Inc. At this time, all participants are in a listen only mode. For those that have dialed in, should you require any assistance during the call, please press star then zero on your touch tone phone. We will have a question and answer session at the end of the call, at which time all participants wishing to ask a question will be instructed to press star 1 and identify themselves before asking a question. Your host for today is Ms. Laura Kiernan, Head of Investor Relations for VIQ. Please go ahead.

Thank you, Chantal. Good morning, everyone, and welcome to the VIQ Solutions second quarter and first half results conference call. Before we begin, I would like to point out that certain statements made on today's call contain forward-looking information subject to known and unknown risk uncertainties, and other factors. For a complete discussion of the risks and uncertainties facing VIQ, we refer you to the company's MD&A and other continuous disclosure filings, which are available on CDAR at cdar.com and on sec.gov. As a reminder, all dollar amounts are in U.S. dollars unless otherwise stated. With us today, we have Sebastian Paré, CEO, Alexi Edwards, CFO, and Susan Sumner, President and Chief Operating Officer of VIQ, all of whom will be available for questions following the prepared remarks. I will now turn the call over to Sebastian Paré to begin.

Thank you, Laura. Really appreciate everyone joining the call today, and I hope that you and your families are doing well. During today's call, I will provide some high-level remarks on the quarter and the first half of the year. Next, Alexi will speak about our financial results, followed by Susan, who will discuss our operating results. We will then open the phone line to answer your questions. We've made great progress in Q2 against several of our priorities. We reported a 51% growth in revenue, net new bookings of $4.4 million, which are up to 159% versus the first quarter of this year, and a 20% increase in the number of net new clients, also versus the first quarter. This shows strong momentum going into the third quarter driven by organic revenue growth. Additionally, we reaffirm our previously announced full year 2022 goals. We're in a strong position. Our tech platform and digital infrastructures, products, and human editing expertise in all regions are better than they've ever been, and we are more competitive than ever. The choppy waters are behind us as our customers reassert their quest to confront the productivity and the delivery challenges amid the labor constraints that are evident in the global verbatim document industry today. After navigating COVID headwinds for 26 months, we placed a sharper focus on our key performance indicators to provide greater transparency and measures of success. Based on our bookings and the recovery in our production capacity for the first half of the year, we anticipate organic revenue growth, excluding acquisitions, to meet the expectations. Our KPIs related to net new bookings, active clients, production volumes, and annual delivered content all have increased to new high, while the cost to produce a minute of documentation dropped by 8.5% when compared to Q1. We achieve a positive EBITDA in the month of June, and we're on track to achieve positive adjusted EBITDA in the second half of the year. We are reaffirming our goals for 2022, including generating at least $50 million in revenue with a gross margin in the range of 47% to 55%. Now, Alexi will provide you with some details on the results and will speak about the raise we've made after the quarter close. Alexi? Thank you, Sebastian.