VIQ Solutions Inc.

Good day, ladies and gentlemen, and welcome to VIQ Solutions' fourth quarter and full year 2024 earnings conference call. 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. Before we begin, please note that certain statements made on today's call are forward-looking within the meaning of applicable securities law. These statements involve risks and uncertainties that may cause actual results to differ materially. Please refer to the forward-looking statement section in our press release and the company's filings on CDARplus.ca. As a reminder, all dollar amounts are in U.S. dollars unless otherwise stated. With us today are Sebastian Paré, CEO of VIQ, and Alexi Edwards, CFO. With that, I will now turn the call over to Sebastian. Thank you, Audrey.

Thank you, Audrey. And good morning, everyone. 2024 was a transformative year for VIQ, defined by measurable progress towards scalable and recurring profitability. We moved decisively beyond post-pandemic stabilization, executing a company-wide operational reset that embedded automation and AI into the core of our workflows across all regions. Today, our editors operate in increasingly specialized, high-value roles, augmented by AI-driven tools and structured content systems, all within a highly secure compliance-focused infrastructure. This evolution is accelerating output, improving consistency, reducing costs, and enhancing the scalability of our platform as we continue to strengthen our financial and operational foundation. These innovative advancements are not only driving client value, but they're also delivering financial results. And 2024 marked a key inflection point for the company. We deliver a full year of positive adjusted HBDA materially narrowing our net loss, and improved throughputs with automation and platform-driven efficiencies. This performance validates the strength of our revised operating model and our ability to generate recurring value in a tech-enabled services environment. While Q4 included typical seasonal softness and some one-time costs related to restructuring and the strategic reviews, Our full-year results reflect tangible progress towards sustained profitability and long-term growth. We're executing against a plan, a clear plan, prioritizing cost control, margin expansion, and the continued evolution of our platform to drive value creation for shareholders. Our strategy in 2024 was anchored around four key priorities. Number one, completing global tech platform migrations in all regions. Number two, driving measurable productivity and regional margin expansion. Number three, optimizing EBITDA performance within our existing recurring revenue base. And number four, advancing towards a free cash flow generating operating model. These efforts resulted in a $6 million year-over-year improvement in adjusted EBITDA, reaching $2 million for the year ended December 31, 2024. This turnaround was underpinned by strategic investments in automation, rigorous cost control, and optimized workflows across our operations. We successfully navigated shifts in industry dynamics as transcription moved further from labor intensive models to a hybrid AI augmented best cost resources for production approach. Our six steps automation blueprint now fully deployed across all regions, positioned VIP to scale securely while maintaining high standards and compliance and sector-specific accuracy. With this foundation in place, the company is well-positioned to drive further EBITDA growth, margin expansion, and free cash flow generation in 2025 and beyond. We're already seeing meaningful returns from our strategic investments, with clear progress in both gross margin expansion and EBITDA trajectory. Our focus on cost discipline is reflected in improvement across both COGS and OPEX. In recent quarter, VIACU has begun tracking towards a full year positive EBITDA and is well positioned to generate the free cash flow driven by stable top line and strengthen operating leverage. Notably, Our gross margin expansion, particularly in the second half, was being fueled by the growing maturity of our platform and the operational efficiencies realized following the NetScribe migration. Now I'm going to ask Alexi to walk over the financial results for 2024. Alexi?