11/13/2025

speaker
Operator
Conference Operator

Good day and thank you for standing by. Welcome to the NEET Third Quarter 225 Earnings Call. At this time, all participants are in 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 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 like to hand the conference over to your first speaker today, Katie Keda, IR Lead. Please go ahead.

speaker
Katie Keda
IR Lead

Thank you, Operator, and welcome everyone to NEET's earnings conference call for the third quarter of 2025. Today's call will be hosted by Eddie Ryan, NEET's CEO, and Dave O'Reilly, NEET's CFO. Please note the safe harbor statement on slide two and the forward-looking statements disclosure at the end of the earnings release, informing you that some comments made on today's call contain forward-looking information. This information by its nature is subject to risks and uncertainty, so actual results may differ materially from the views expressed today. For further information on these risks and uncertainties, please consult our relevant filings, which can be found on CDAR and on our website, www.neat.com forward slash investors. Also during the call, we may refer to certain supplementary financial measures as key performance indicators. Management uses both IFRS measures and supplementary financial measures as key performance indicators when planning, monitoring, and evaluating the company's performance. Management believes that these non-IFRS measures provide additional insight into our financial results, and certain investors may use this information to evaluate our performance from period to period. For your reference, we have filed our unaudited consolidated financial statements in MD&A on CDAR, and they are also available on our website. I will now pass the call to Eddie Ryan, CEO of Neat.

speaker
Eddie Ryan
CEO

Good morning, everyone, and thank you for joining the call today. I will take you through an overview of the quarter and the year so far, what we are seeing and what we are planning. Then Dave will share a high level recap of the financials. After that, we will open the call for your questions. The third quarter of 2025 reaffirmed Leet's resilience as the market leader in digital validation. We continue on an expansion journey with our existing customers and continue to sign new logos at a strong pace. As a result, our SAS revenue grew 33% year over year, well ahead of the average for companies our size. This demonstrates the continued demand for our platform, even in a more complex investment environment for the life sciences industry, who also have to deal with uncertainty around trade, pricing, and funding. While these dynamics are extending buying cycles somewhat, customers ultimately continue to invest in their digitalization journey. As such, our sales team continue to manage a robust pipeline into quarter four and beyond. Neat wins because it delivers compelling value for its customers. Our validation workflow platform, NeatGX, is configurable and absolutely no coding is needed. It supports all validation workflows and it meets strict data integrity requirements. That NEET has been able to address what our customers need to do, the way they want to do it, has earned NEET our excellent reputation as the leader in digital validation. This market leadership was underscored this past quarter by the software review and comparison platform G2. Its fall report on pharma and biotech software awarded NEET a satisfaction score of 98 out of 100, a full 20 points higher than the second-ranked company's score of 78. We strive to expand this competitive lead by making the platform better all the time. Our engineering team continues to innovate in line with customers' needs and our strategic vision. Our AI strategy is unlocking new possibilities for speed, intelligence, and insight, while maintaining the highest standards of compliance and integrity. Recent advancements include AI capabilities that enhance usability and global reach, with upcoming near-term solutions designed to streamline content creation, content review, and data-driven decision-making. Based on the significant opportunities that lie ahead, we will continue to invest strategically in R&D and go-to-market, in parallel with our focus on profitability in the year ahead. I will now hand it off to Dave, who will address the financials in more detail.

Disclaimer

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