Sylogist Ltd.

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 reach an operator by pressing star then zero. I would like now to turn the conference over to Jennifer Smith with Loderach Advisors. Please go ahead.

Jennifer Smith Thank you, Alan, and good morning. Joining me to discuss Syllogist's third quarter 2025 results are Bill Wood, Syllogist's President and Chief Executive Officer, along with Sujit Kinney, the company's Chief Financial Officer. This call is being recorded live at 8.30 a.m. Eastern Time on November 6, 2025. I'd like to remind everyone that our Q3 2025 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 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. A complete safe harbor statement is available in both our MD&A and press release, as well as on syllogist.com. We encourage all of our investors to read it in its entirety. Additionally, we are reporting our financial results in accordance with IFRS accounting standards or IFRS. Today, we may also refer to and discuss non-IFRS performance measures, which should be viewed as supplemental. We have included in our MD&A the definitions of certain non-IFRS performance measures used by the company. Furthermore, all the dollar figures expressed on this call are in Canadian dollars unless otherwise stated. Now, I will be turning the call over to Bill for his opening remarks. Following that, Sujit will provide an overview of our Q3 financial performance with Bill returning to conclude with closing comments, after which we will open the line for Q&A. With that, I'll hand the call over to Bill.

Thank you, Jen. Good morning, everyone, and thank you for joining us. Syllogist transformation to a mission-critical, SAS Solutions provider continued in our third quarter. I'm pleased to report that SAS revenue pushed even higher to reach 73% of recurring revenue compared to 68% of recurring revenue during the same period last year. Additionally, our SAS ARR increased 15% year over year. Our partner led sales and delivery strategy gained ground in Q3 with 48% of ARR bookings being partner driven. I also want to mention that we are putting contractual changes into place with our partners that will allow us to significantly reduce the time between a booking and the associated SAS revenue recognition. We are also seeing longer contract terms with new customers. In 2024, new subscription agreements across all segments averaged 4.1 years in length. Year to date 2025, new agreements are averaging five years. This is a testament to our mission critical SaaS platforms, strong customer satisfaction, and increasing predictability of future revenue. To that end, we believe our sales success and expanding recurring revenue as a percentage of total revenue confirm the efficacy of our product development and partner enablement investments. With our Syllogist Gov municipal government platform now 100% partner delivered, we are expanding the partner model in our syllogist mission sector over the coming quarters. And we have already attracted new partners that have successful practices in the not-for-profit sector. The total contract value, or TCV, of our bookings in the quarter was $5.9 million, reflecting the inherent quarter-to-quarter lumpiness of the public sector and Q3 summer seasonality in particular. The amount of ARR derived from the $5.9 million in Q3 bookings TCB was approximately $1 million. As a heads up, we are planning to sunset the reporting of bookings total contract value and replace it with bookings contracted ARR, which better reflects our SaaS-centric strategy and is a metric that stakeholders have been asking for. In Q3, Syllogist advanced its longstanding partnership with Microsoft, transitioning from a managed reseller to become a managed software development company or managed SDC. This elevated designation, granted to roughly the top eight to 10% of Microsoft partners worldwide, recognizes Syllogist's growing success as a partner with 100% SaaS solutions that reside in Microsoft's highly secure and scalable Azure cloud environment. Looking ahead, our sales pipeline is expanding and becoming increasingly more balanced across our three strategic markets, which bodes well for growth and value creation going forward. With that, I'll turn it over to Sujit to walk you through the detailed financials for the quarter.