2/26/2026

speaker
Operator
Conference Operator

Good day and thank you for standing by. Welcome to Q4 25 earnings conference call. At this time, all participants are in the 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 one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one 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, Katie Kata, IR lead. Please go ahead.

speaker
Katie Kata
IR Lead

Thank you, operator, and welcome, everyone, to NEET's earnings conference call for the fourth quarter of 2025 and the full year. Today's call will be hosted by Eddie Ryan, NEET CEO, and Dave O'Reilly, NEET CFO. Note that the safe harbor statement on slide two and the forward-looking statement disclosure at the end of the earnings release inform you that some comments made on today's call may 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. Also during the call, we may refer to certain supplementary financial measures as key performance indicators. We use both IFRS and supplementary financial measures as key performance indicators when planning, monitoring, and evaluating our performance. Management believes that these non-IFRS measures provide additional insight into the company's financial results, and certain investors may use this information to evaluate our performance from period to period. With that, I will now pass the call to Eddie Ryan, CEO of Neets.

speaker
Eddie Ryan
CEO

Good morning, everyone, and thank you for joining the call today. In order to leave more time for your questions, we will keep our prepared remarks brief. As I laid out in my letter to shareholders, 2025 was a year that proved the strength of Neets' resilience. In a period of macro uncertainty, elongated buying cycles, and new considerations presented by AI, we continue to gain share with software revenue up 33% for the full year, and we welcome the record number of new customers. These new customers were added to an exceptionally stable base of existing large customers. Our net revenue retention was 115%, reflecting continued expansion with that base. Customers come to me today because we are a trusted domain expert in a field where confidence in the product is paramount. There's our highly regulated mission critical environments where validation data needs to be attributable, traceable and auditable. All things for which NEET has been purpose built. With this in mind, NEET's advantage in leveraging AI to deliver business value for companies is clear. Over the last while, we've been building AI into our platform to accelerate the advantages NEET already brings to validation. We introduced AI powered features designed specifically for environments adhering to good manufacturing practices. These include content review agents, a natural language process analysis expert, a user support expert, and an instant language translation function. Building in AI to improve the platform extends our competitive advantage, which was already considerable. With these tailwinds, we are excited about where we are heading in 2026. Our platform is second to none. Our pipeline is strong, and our land and expand model, which contains significant expansion potential and brings more with each new customer we add, is proving to scale, putting cash flow profitability within line of sight. This is a necessary milestone as we plan for the long game in pursuit of our mission, that any regulated company can be confident they are developing, manufacturing, and delivering their products to the highest safety standard. I will now turn it over to Dave, who will take you through the numbers.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, 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.

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