VIQ Solutions Inc.

Good day, ladies and gentlemen. Today, we are hosting a conference call to discuss the 2024 First Quarter Financial Results for VIQ Solutions, Inc. Currently, all participants are in a listen-only mode. For those that dialed in, should you require any assistance during the call, please press star, then zero on your touchtone phone. For questions and answers regarding recent disclosures or any other matter, please reach out directly to the company using the contact details on the company website. Your host for today is Audrey Liu. Corporate Finance Controller for VIQ. Please go ahead.

Thank you. Good morning, everyone, and welcome to VIQ Solutions 2024 First Quarter Financial 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 risks, uncertainties, and other factors. For a complete discussion of the risks and uncertainties facing VIQ, we refer you to the company's MDNA and other continuous disclosure filings, which are available on CDAR at cdar.com. As a reminder, all dollar amounts are in U.S. dollars unless otherwise stated. With us today, we have Sebastian Paré, CEO, Susan Sumner, President and COO, and Alexi Edwards, CFO of VIQ. I will now turn the call over to Sebastian Paré to begin. Sebastian.

Thank you, Andre. Welcome everyone to our first quarter of 2024 earnings call. At our last earning calls as recently as March 28, we made reference to clearing the way forward to 2024. Q1 results came in reinforcing the trends that we saw in Q4 last year. Q1 results were significant on several fronts. Directionally, the adjusted EBITDA path is the result of five specific factors. Number one, the commercial competitiveness and the positioning of our technology platform, both NetScribe and AI Assist. Number two, the human adoption of our own domain-specific AI is making its way. The previously announced cost reductions are starting to yield results. The price increase adjustments are starting to be reflected. and the launch on some of the larger bookings in the insurance segments that we announced last year. These five drivers have laid the foundation for continued financial improvement as the year develops. We remain committed to the core elements of returning the company to both positive adjusted EBITDA and cash flow in 2024. We more or less closed the gap in Q1. and we plan to build on that new base in Q2 and trail the second half of 2024. Our AI is built on vast amounts of specialized domain-specific data, human expertise, and supervised learnings. These are directly tied to the adoption rate of our technology by our global production teams and the acceleration of their revenues, which align with our software-as-a-service and platform-as-a-service products. Legal documentation usability and accuracy is at the core of our global adoption that is underway among our customers. The confidence in our technology has facilitated a much more aggressive pivot of the solutions we present to our current and new customers. We continue to lean into this disruption. We're very proud about the growing number of customers, including law firms and courts, that subscribe to our technology are renewing and expanding their use of our workflow and AI tools to supplement critical shortages in court reporting resources globally. We have spoken about the many challenges in the industry over the last several years. While we still have a significant amount of work ahead of us, the results in each of the months of the quarter demonstrate strong incremental progress once the seasonality of the court segment in January was over. One quarter certainly doesn't make a trend, but coming out of the most challenging quarter so strong with incremental improvements each month is a clear validation that the hard work we've invested in technology, AI, operation, and cost reduction is working. Such validation does position the company well for 2024 and 2025, with much stronger positive financial growth going forward as the industry continues to expand towards AI advancement at a much faster rate than anybody expected. Our industry is clearly expanding, undergoing a tangible AI revolution alongside clients, a large amount of data, and human experts collaborating in industry-made workflows. VIQ is leading globally on how AI enables human quality content creation at scale for legal documentation. I will now turn the call over to Susan Sumner to discuss some of the operational highlights. Susan?