This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only. Earnings Call, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
spk_0: Good day ladies and gentlemen, today we're hosting a conference call to discuss the first quarter 2021 financial results for VIP Solutions, inc at this time, all participants Ernie listen only mode for those that dialed in. Should you require any assistance during the call, please press star then zero on your touch tone phone. We'll 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 one and identify themselves before asking a question. Please let me yourself to one or two questions so that others may have a chance to ask questions. You may re enter the queue. Your host for today is Miss Lauren, current head of investor relations. For the Please go ahead.
spk_1: Thank you so much. Good morning everyone and welcome to the I Key Solutions 2021 1st quarter 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 the queue. We refer you to the company's M. DNA and other disclosure filings which are available on cd R at cdr dot com and the otc in the United States. As a reminder, all dollar amounts are in US dollars unless otherwise stated. Certain key one numbers Q 1 2020 numbers have been adjusted to reflect changes Which were implemented in the company's amended filings in November 2020 with US. Today we have Sebastian Parade ceo Alexey Edwards, Cfl and Susan Sumner, president and chief operating officer of VQ, all of whom will be available for questions following the presentation, following comments from each of them. We will do A Q and A sessions so I will now turn the call over to Sebastian parade to begin.
spk_0: Thank you Laura, Welcome everyone to our first quarter of 2021 earning call. We deliver strong first quarter results driven by substantial growth margin improvement, steady increase until revenue, an exponential growth in Australia. The positive response to a unique approach to transform an industry using Ai power solution has clearly accelerated the digital transformation in our market. Our product portfolio is gaining momentum and we're keenly focused on strategy and execution. This is a pivotal year for vic As we increase our investments in infrastructure to propel VIP 3.0 to greater heights using our technology to broaden our portfolio and support the transformation and the modernization of the vast amount of digital content recorded within our expanding global markets. We continue to see tangible results from our Conference of Strategy that is starting to flow to our financial statements. We started to react and reactivate and recognize the backlog revenue as we enter a post and dynamic environment. We have experienced positive proof of this in Australia, Where revenue increased 22.5 in the quarter to 2.4 million versus the prior year. Initially we're very excited about our SAS technology and related sales which have started to influence the margin profile with 1.4 million in sales representing an increase of 108% from Q one of 2000 and 20 importantly, growth in our technology portfolio provides the highest growth margin as compared to a technology services segment which includes a human workforce components. As we continue to execute against our plan, we're confident in our ability to not only increase our market share and our average revenue per customer but also to deliver revenue growth, higher margins and higher editor. Now I will hand over to elected to speak our financial results. He will be followed by Susan It will provide some insight into cooperation. She will hand it back to me and my research some questions. I'll actually thank you Sebastian and good morning,
spk_1: good afternoon
spk_0: and good evening to everyone. This quarter results indicate that were falling through with our strategy. We continue to improve
spk_1: quality of revenue, moving towards your
spk_0: current staff accounts, support acquisition strategy through the most effective
spk_1: low cost liquidity
spk_0: and improve productivity
spk_1: by migrating
spk_0: our clients on to our next live platform.
Disclaimer