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Sylogist Ltd.
5/12/2026
Thank you for standing by. This is the conference operator. Welcome to the SELOGIS first quarter 2026 results conference call and webcast. As a reminder, all participants are in a 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. You will hear a tone acknowledging your request. Should you need assistance during the conference call, you may reach an operator by pressing star, then zero. I would now like to turn the conference over to Jennifer Smith with LoadRock Advisors. Please go ahead.
Thank you, Danielle, and good morning. Joining me to discuss the first quarter 2026 results are Craig O'Neill, the Logistics Interim 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 Tuesday, May 12, 2026. I'd like to remind everyone that our Q1 2026 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 SOGIS disclaims any intent or obligation to update or revise any forward-looking statement, 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 SOGIS.com. We encourage all of our investors to read in this entirety. Additionally, we are reporting our financial results in accordance with IFRS accounting standards. Today, we may also refer to or discuss non-IFRS performance measures, which should be viewed as supplemental. We have included in our MD&A the definition of certain non-IFRS performance measures used by the company. Furthermore, all of the dollar figures expressed on this call are in Canadian dollars unless otherwise stated. Now, I will be turning the call over to Craig for his opening remarks. Following that, Sujit will provide an overview of our Q1 financial performance with Craig returning to conclude with closing remarks, after which we will open the line for Q&A. With that, I'll hand the call over to Craig.
Great. Thank you, Jen, and good morning, everyone. Thanks for joining us today. Well, it's been just over three months since I took over as interim CEO and about two months since our last update. Since then, I've dedicated my time to diving deeper into the business and our products, our partners, and our market opportunities. And what I've found has reinforced my confidence in our business. We have some excellent growth opportunities ahead of us. We're reaching product market fit for these opportunities, and we have a growing list of partners who recognize this and are motivated to work with us. Syllagist is advancing on its transformation journey. from a software vendor with older perpetual licensed style products to a modern SaaS business with cloud-based products implemented via a partner ecosystem. That journey is a challenging one and it's not yet complete, but it is showing early signs of improving revenue quality and operational efficiency. I'm pleased to report that Syllogist's adjusted EBITDA, recurring revenue and gross margins, stabilized sequentially while the company's SaaS subscription revenue improved compared to Q1 of 2025. These results reflect the company's sustained focus on this transformation. Looking ahead, the company remains intent on completing the final steps in the transformation. Following several years of investment, we are now proving the value of our cloud-based products with our customers and partners, especially in our government and education segments. and we're maturing our partners' sales and delivery capabilities and our ongoing support for them. We're also making meaningful progress on operational efficiency and go-to-market performance, and that includes this ongoing transition to partner-led project delivery. Although that transition has created some short-term pressure on one-time project services revenue, We anticipate that we'll unlock greater scalability in the future as our SaaS products gain traction in their target markets and ultimately drive stronger recurring revenue growth. For these reasons and more, my confidence in the long-term prospects for the company has grown stronger. We've got a talented team. We have a portfolio of ERP, CRM, and other mission critical software solutions that are valued by our customers. and we continue to strengthen our brand in a competitive environment that can significantly benefit from our suite of products. With that, I'm going to turn it over to Sujit to walk you through the detailed financials for the quarter and the year. Sujit.
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