Information Services Corporation

Good day and thank you for standing by. Welcome to the ISC fourth quarter and year-end 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Jonathan Hackshaw, Senior Director, Investor Relations and Capital Markets.

Thank you, Liz, and good morning, everyone, to joining us today. Welcome to ISC's conference call for the year ended December 31st, 2022. On the call today with me are Sean Peters, President and CEO, and Bob Antichow, Chief Financial Officer. This morning, Sean will take you through some of the highlights of the year. Bob will then provide some financial highlights for the year as well as speak to our outlook and guidance for 2023 before passing the call back over to Sean for some closing remarks. Before we begin, we would like to remind everyone that we'll only be summarizing results today. The company's financial statements and MD&A have been filed on CDAR and are available on our website. We encourage you to review those reports in their entirety. I would also like to remind you that any statements made today that are not historical facts are considered to be forward-looking statements within the meaning of applicable securities laws. The statements may involve a number of risks and uncertainties that are described in detail in the company's CDAR filings. Those risks and uncertainties may cause actual results to differ materially from those stated. Today's comments are made as of today's date and will not be accepted as required under applicable securities laws. Today's conference call is being broadcast live over the internet and will be archived for replay shortly after the call in the investor section of our website. With that, I would now like to turn the call over to Sean.

Thank you, Jonathan, and good morning to everyone joining us for today's call. Just a few comments before I turn it back over to Bob for some financial remarks. Overall, 2022 was another successful year for ISE with increases in revenue, EBITDA, and free cash flow, along with a stable net income. Yet again, our two core segments, registry operations and services, delivered strong results. As we anticipated, the second half of 2022 saw registry operations return to more normal pre-pandemic behavior while continuing to be the excellent EBITDA and free cash flow generator that it's always been. For services, 2022 marked a milestone for the business when it exceeded registry operations in revenue for the first time since we acquired ESC in October 2015. This is a culmination of the steps we've taken to diversify the broader business as well as grow organically through new customer acquisition. To drive that growth, we've invested purposefully in our technology and we now have platforms like Registry Complete and Recovery Complete, which provide all of our customers with easy access to our suite of solutions. Last year, we noted the technology solution segment was the most impacted by the COVID-19 pandemic. And that was evident this year as we saw weaker results in technology solutions in 2022 compared to prior years. However, with jurisdictions now able to refocus on moving various technology projects forward, we're energized about the potential of the business and we've been driving new opportunities post-COVID. With our new ERS leadership now fully on board and focused on business performance and our continued commitment to customer excellence, I'm confident we'll see a return to growth and new contract wins ahead. As part of our long-term strategy to diversify our portfolio, we completed and integrated two transactions in 2022 that allow us to maintain market leadership in our industries and expand our range of services and customer base. In services, we acquired Uplevel in February 2022, expanding our leading role in the PPSA market credit lifecycle product suite by adding early and late stage collections to our portfolio. As well, we expanded registry operations for the first time through the acquisition of ReaMind Systems Inc., a recognized leader in providing property tax assessment management infrastructure and services in the province of Ontario. While not a registry in the traditional sense, this business has a similar profile to our Saskatchewan registry business, both through its financial profile as well as its long-standing relationship with the province of Ontario. It highlights our expertise in delivering a range of services on behalf of governments and demonstrates our expanded thinking in growing this business. As a result, ReaMind has been an excellent complementary business to our Saskatchewan registries. During the course of the year, I was fortunate to meet with many of our shareholders, prospective investors, and other stakeholders. I would like to thank all of them for their support during my first year as President and CEO of ISC reiterate my commitment to ensuring isc delivers value to shareholders through deliberate and thoughtful execution our growth is calculated and consistent and it builds on the strength and stability of our underlying business that growth potential combined with a healthy dividend yield makes it hard to find a more solid company than isc i'll now turn the call over to bob to discuss some of the financial highlights before providing some closing thoughts