Sylogist Ltd.

Good morning, everyone. Thank you for standing by. This is the conference offer here. Welcome to the Syllogist Limited fourth quarter and full year 2024 results conference call and webcast. As a reminder, all participants are in a listen-only mode. 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 and then one using your telephone keypad. Did you need assistance? During the conference call, you may signal an operator by pressing star and zero. At this time, I'd like to turn the floor over to Alex Balka with Syllogist. Please go ahead.

Thank you, Jamie, and good morning. Joining me to discuss Syllogist Q4 and full year 2024 results, Paul Wood, Syllogist President and Chief Executive Officer, along with Sajit Keeney, Chief Financial Officer. This call is being recorded live at 8.30 a.m. Eastern Time on March 13, 2025. Our Q4 2024 press release, MD&A, financial statements, and accompanying notes have been issued and are available for download on CDAR+. Please note that some of the statements made on the call today may be forward-looking. Actual events or results may differ materially from those expressed or implied and still just disclaim 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 safe harbor statement is available in both our MD&A and press release, as well as on tillages.com. We encourage our investors to read it in its entirety. We are reporting our financial results in accordance with IFRS accounting standards or IFRS. We may also make reference to and discuss non-IFRS performance measures, which should be viewed as supplemental. We have included in our MD&A the definitions of non-IFRS performance measures used by the company. All the dollar figures expressed on this call are in Canadian dollars, unless otherwise noted. I'll turn it over to Bill first for opening remarks. Then Sajeet will continue with review of our Q4 financial performance. After which, Bill will conclude with scripted remarks, at which time we will open it up for questions. With that, Bill.

Thank you, Alex. Good morning, or good afternoon to everyone joining us. Building on the momentum from the first three quarters of 2024, we delivered a strong fourth quarter. Our Q4 results further confirm our transition to an ARR-driven enterprise with recurring revenue reaching 72% of total revenue. We continue to foster an increasingly engaged and empowered partner channel, a thriving customer community, with strong net revenue retention and an expanding presence across our three strategic markets. We're very pleased with the results of our value creation strategy. I want to highlight a few key aspects of our Q4 performance. We saw a significant 63% year-over-year growth in bookings. driven by new logo wins, as well as successful customer upsells and cross-sells. Of note, nearly 40% of our bookings came from our syllogist ed sector, showing the acceleration we anticipated in that segment. Our effective go-to-market strategy focused on targeted competitor displacements and strong SaaS offerings, sustained high win rates exceeding 50% in the quarter. This includes both direct and partner led sales, underscoring our combined success against targeted competitors. We have an increasingly balanced pipeline and bookings across our syllogist mission, ed, and gov market segments. Again, our bookings pipeline was up 63% year over year in Q4 and win rates remain high, underpinning further SaaS ARR growth as we look to 2025 and beyond. As I highlighted previously, a key pillar of our strategy is our partner network, which allows us to scale profitably and capture market opportunities quickly. Over the past year, we've made significant progress in building and enabling a strong partner community within the Syllogist Gov and Syllogist Mission segments. Partner attached bookings represented almost 32% of our total bookings this quarter, compared to just 12% in Q4 2023. In the Syllogist Mission and Syllogist Gov sectors, Partner-attached bookings accounted for 60% of their respective total bookings, a very strong result for future value creation. To ensure project success and effectively train, monitor, and co-deliver with partners during the ramp-up, we continue to invest in an expert internal project delivery team. While essential for building a strong partner ecosystem, this transition has temporarily compressed gross margins as we shift project service revenue to partners while still absorbing internal project delivery team costs. However, this is intentional and a strategic phase of our transition. As our partners gain expertise and take on a larger share of implementations, we expect a natural shift in our cost structure. Over time, this will enhance our operating leverage as partners increasingly manage service delivery independently, allowing us to concentrate on scaling high margin, fast revenue. In the latter part of 2025 and beyond, we anticipate strong scalability and even more profitable revenue mix, further reinforcing our long-term value creation strategy. Long execution continues to drive growth in our higher margin SAS ARR and SAS NRR. In Q4, our SAS ARR increased by 17% year-over-year to 31 million, and SAS NRR came in at a healthy 108%. I'll now hand it over to Sujit to provide more details on our financial performance for the quarter. Sujit.