Information Services Corporation

Good day, and thank you for standing by. Welcome to the IFC Q3 2024 earnings conference call and webcast. 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 will 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 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jonathan Hackshaw, Senior Director of Investor Relations and Capital Markets. Please go ahead.

Thank you, Shannon, and good morning to everyone joining us today. Welcome to ISE's conference call for the quarter ended September 30th, 2024. On the call with me today 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 quarter. Bob will then provide some comments on our financial and operating performance for the quarter before passing the call back over to Sean for some closing remarks. Before we begin, we would like to remind everyone that we will 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 Plus 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 updated except 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 on the investor relations 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. The third quarter of 2024 delivered excellent results. with revenue up 12% and adjusted EBITDA up 18% compared to the third quarter of 2023. In registry operations, strong performance from the Saskatchewan Registries Division, combined with the full effect of fee adjustments implemented in July 2023, produced revenue and adjusted EBITDA for the quarter that were up 16% and 23% respectively. We also saw continued strong performance in residential real estate in the land registry, resulting in an increase in overall volumes compared to the third quarter of 2023. In services, there was growth in know-your-customer and due diligence activities from existing customers in the regulatory solutions division as the compliance environment continues to be more stringent within the lending industry. As well, we saw growth in the recovery solutions division as we saw both increased assignments and sales. However, revenue and adjusted EBITDA for the quarter were still marginally lower compared to the same quarter last year following the introduction of a ban by the Government of Ontario on notice of security interests or NOSIs at the start of the quarter, which impacted our collateral management offering. Finally, I'm pleased to report that our technology solution segment also saw an improvement in results, with increases in revenue and adjusted EBITDA of $3.4 million and $1.5 million respectively, compared to the same period last year. With that, I'll now turn the call over to Bob to discuss some financial highlights in more detail before providing some closing thoughts. Thank you, Sean, and good morning, everyone.