VIQ Solutions Inc.

Good day, ladies and gentlemen. Today, we're hosting a conference call to discuss the 2024 third quarter financial results for VIQ Solutions Incorporated. 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 touchstone 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 Third Quarter Financial Results Conference Call. Before we begin, I would like to point out 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 MD&A 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 DIQ. I will now turn the call over to Sebastian Paré to begin.

Thank you, Audrey. Good morning, everyone, and thank you for joining our third quarter earnings call. Q3 was a transformative quarter for VIQ, where we achieved notable financial milestones. We saw a $2.1 million improvement in adjusted EBITDA year over year, a $7.9 million reduction in net loss over the first nine months, and 10% revenue growth compared to the same period of last year. For the first nine months of 2024, adjusted EBITDA reached $1.5 million, a $4.8 million improvement from last year, truly reflecting our continued operational discipline and focus on margin expansion. The third quarter brought incremental gross margin gains, several major contract renewals, and back-to-back positive EBITDA, all building on the momentum of previous quarters. Today, we will walk you through our key achievements, especially our core Australian markets, along with operational highlights in our strategic direction, focus on strengthening financial stability and driving sustainable profitability as we move towards 2025. Afterwards, Susan and Lexi will provide deeper insight into our operations and financial performance. Q3 2024, we maintain stability in revenue growth and steady gross margin expansion which underscores the success of our technology led strategy to build a more scalable, efficient business model. Key driver of our growth is our first draft solution, which continues to gain strong traction across all revenue segments. First draft is central to our land and expand strategy, allowing us to attract new clients and deepen our engagement with existing ones. This solution positions the company to establish and scale partnerships with aligned organizations, enhancing our value proposition and creating new growth opportunities across the business. SAS revenue from the first draft doubled in the nine months ending September 30th, reflecting the increased value our technology brings to our customers. Originally targeting smaller entities like law enforcement agencies, law firms, and individual editors, VIQ First draft has evolved with deep vertical industry-specific enhancements in speech recognition, domain-specific language models, post-processing, and formatting capabilities unique to our industry and the geographies. We're now expanding to serve larger enterprises, including court reporting agencies, major law firms, court in-house legal teams, insurance companies, and transcription providers. Additionally, we advance our NetScribe platform with Stage 2 of its transformation, introducing the industry-first AI power formatting tool specifically designed for courts and court reporting. This tool automates complex formatting to diverse U.S. and global court templates addressing the pressing need for efficiencies amid a skilled court reporter shortage and crisis-level backlogs within most of the courts. It's already delivering meaningful benefits to deposition firms, courts, and agencies needed quick and accurate document creation under tight resources. Our AI-driven enhancements in Netscribe and across our product portfolio are transformative. enabling more customized, scalable solutions for our client. With foundational migrations now largely completed, we accelerated cost reduction initiatives in Q3, achieving greater operational and administrative efficiencies which strengthen our margins. This process is ongoing and will continue in sync with the platform adoption. Looking ahead, We're confident that these efficiencies will continue to drive improvements in gross margin and adjusted EBITDA in the quarters to come. The IQ solution is strategically positioned to deliver sustained value for our customers and shareholders as we move forward. Thank you. And I will now hand it over to Susan Alexie to private you with additional details. Susan. Susan there.