Sylogist Ltd.

Thank you for standing by. This is the conference operator. Welcome to the Syllogist Limited third quarter 2024 results conference call and webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star then zero. I would like now to turn the conference over to Jennifer Smith with LoadRock Advisors. Please go ahead.

Thank you, Alan, and good morning. Joining me to discuss Zoologist Q3 fiscal 2024 results are Bill Wood, Zoologist President and Chief Executive Officer, and Sujit Kinney, Chief Financial Officer. This call is being recorded live at 8.30 a.m. Eastern Time on November 7, 2024. Our Q3 press release, MD&A Financial Statements and Accompanying Notes, has been issued and are available for download on CDAR+. Please note that some of the statements made on the call may be forward-looking. Actual events or results may differ materially from those expressed or implied, and Syllogist disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. The complete fake-harbor statement is available in both our MD&A and press release, as well as on Syllogist.com. We encourage our investors to read it in its entirety. We are reporting our financial results in accordance with International Financial Reporting Standards, or IFRS. Before, we will also discuss non-GAAP performance measures, which should be reviewed as supplemental. The MD&A contains definitions of each one used in our reporting. All of the dollar figures expressed on this call are in Canadian unless otherwise noted. I'll turn it over to Bill first with opening remarks, and Sujit will review our Q3 financial performance, after which Bill will conclude scripted remarks at which time we will open it up for questions. Bill?

Thank you, Jen. Good morning and good afternoon to those of you joining us overseas. Building on the momentum we generated the first half of 2024, it was a strong Q3 for the business. Our results continue to validate the successful transition to a SaaS-driven enterprise. With growing recurring revenue, an effective and engaged partner network, and an expanding presence across our three strategic markets. In short, we're very pleased with the results we're seeing from the execution of our value creation strategy. I'd like to add some color to our Q3 performance. We saw 14% year-over-year bookings growth in the quarter. Especially encouraging was our success with customer upsells and cross-sells that's largely attributable to happy customers using more of what our SaaS platforms now offer. I also want to highlight that nearly 40% of our bookings came from our syllogist ed sector. Reflecting the continued acceleration I've been signaling was on the horizon is now clearly occurring. The success we're seeing from our targeted competitor displacement strategy The success of our SaaS offerings relative to the competitive landscape and strong customer referrals drove our overall win rate even higher to above 70% in Q3. This impressive win rate is inclusive of both direct and partner-led sales motions. We're now seeing an increasingly balanced pipeline in bookings across all three strategic markets, so just Mission, Ed, and GloVe. At the end of Q3, our bookings pipeline is up 122% year over year. These leading indicators bode well for more balanced SaaS ARR growth across all three sectors as we look out to 2025 and beyond. One of the pillars of our value creation strategy is a carefully selected, aligned, and enabled partner network to allow us to scale profitably and capture market opportunity quickly. It's been just over a year since we turned earnest attention to building a strong partner community and we're well ahead of plan in terms of the results we're seeing. As of Q3, partner attached bookings have grown more than 700% year over year and grew 52% quarter over quarter. Partner attached bookings represented almost 50% of our total bookings this quarter, compared to just 7% in Q3 of 2023. In our syllogist mission and syllogist gov sectors, so net of syllogist ed where we don't yet engage partners, partner attached bookings came in at 77% of total bookings. again a very strong result for a kpi that bodes well for future value creation to help ensure project implementation success we continue to maintain our expert internal team to both empower the expanding partner community as well as deliver syllogist mission gov and add project services to customers directly As our community of high-quality partners becomes more self-sufficient, we see increasing leverage in sales and, even more importantly, broader implementation capacity in the back half of 2025 and beyond. As we execute our channel strategy, one of the outcomes is the accelerating handoff of our direct-to-customer project service revenue. This effectively inhibits our top line revenue growth in the near term as we settle to a new top line revenue mix that's increasingly comprised of more lucrative SaaS ARR. As I've said previously, this is an exciting, purposeful shift, and we're very pleased it's happening at a faster than expected clip as it validates that our partner strategy is working. To that end, strong execution continues to drive robust growth in our higher margin ILTB SAS ARR, as well as our SAS NRR. Our SAS ARR increased by 13% year-over-year to just shy of $30 million, and SAS NRR came in at a healthy 107%. I'll pause here and let Sujit take you through our financial performance for the quarter in a little more detail. Sujit?