Boardwalktech Software Corp.

Good afternoon, ladies and gentlemen, and welcome to the Board WOC Tech Software Corporation Fiscal Full Year and Fourth Quarter 2023 Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, June 28, 2023. I would now like to turn the conference over to Graham Farrell. Please go ahead.

Thank you, Operator. Good afternoon and welcome everyone to BoardWalk Tech's quarterly conference call. The call will cover BoardWalk Tech's financial and operating results for the full year and fourth quarter of fiscal 2023, period ended March 31, 2023. Following our prepared remarks, we will open the conference call to a question and answer session. The call today will be led by BoardWalk Tech's President and Chief Executive Officer, Andy Duncan, along with the company's Chief Financial Officer, Charlie Glavin. Before we begin our formal remarks, we'd like to remind everyone that some of the statements on this conference call may be forward-looking statements. Forward-looking statements may include, but are not necessarily limited to, financial projections or other statements of the company's plans, objectives, expectations, or intentions. These matters involve certain risks and uncertainties. Companies' actual results may differ significantly from those projected or suggested in any forward-looking statements due to a variety of factors which are discussed in detail in our regulatory filings. Today, we issued our fourth quarter and annual fiscal 2023 financial results, a copy of which is available in the investor relations section of our website. www.boardwalktech.com and post it on CDAR. I would like to remind everyone that today's call is being recorded on Wednesday, June 28, 2023. I will now turn the call over to the President and the Chief Executive Officer of BoardWalk Tech, Andy Duncan. Please go ahead, Andy.

Thank you, Graham. I would like to welcome everyone to BoardWalk Tech's quarterly earnings call to discuss the company's financial results for the full year and fourth quarter of fiscal 2023 ended March 31, 2023. As we close on another fiscal year, our fifth as a public company, 2023 has proven to be the inflection point in the business that we have been discussing for some time. Our digital transformation business and land and expand strategy continues to yield results. The banking channel remains very active with our Velocity product. We added new Fortune 100 logos to our client list. Our pipeline continues to expand and replenish. We hit our annual revenue growth targets that we presented to you at this time last year. That said, while we achieved our goals, we are still not satisfied and look to continue growing the company as quickly as we can. This new fiscal year is about execution and growth. every day my entire team wakes up thinking about growth and adding ARR at the Gartner supply chain conference last month we began customer demonstrations of a new supply chain visibility product called radius control tower based on our core technology stack while we were quite pleased by the level of interest at the conference and subsequent prospect engagement since then We aren't surprised that current solutions can't manage, search, curate, and present timely information across the enterprise. The BoardWalk Radius Control Tower can identify and resolve issues as they unfold, not after the fact, and this will prove to be an important part of many enterprise environments going forward. On a macro level, the past 12 months have been quite eventful in the technology sector. Rapidly rising interest rates, economic uncertainty, including layoffs and reorganizations, and banking failures have led to dramatic challenges within our customers' respective markets. As it relates to BoardWalk Tech, the company has been largely unscathed. However, one area where we have seen an impact is we experienced timelines being pushed out with respect to closing of certain contracts. As an illustration of how layoffs created delays or timing issues for us, you may have seen a temporary drop in our sequential ARR. This was due to one existing contract in particular, which we have previously referenced, who had an internal delay getting their contract extension signed off due to several new out of scope requests. So even while we had approval to issue the invoices, we had full agreement with legal and our customer, and we still had us, and the customer still had us in their budget, we did not have all of the requisite paperwork needed or that we were expecting, which would have allowed us to recognize the revenue under IFRS 15. Therefore, to be clear and based on what this customer told us as recently as this week, we did not lose this contract, but rather this is a timing issue. So we do expect all of this revenue to catch up in subsequent quarters. Generally, we are not overly concerned with some of the delays we are experiencing as our pipeline is robust and our clients remain quite engaged. However, this does offer some explanation as to why we've seen contract negotiations extend further than anticipated, especially as we expected some of these agreements to be closed and announced. Key financial metrics to share with you include a 50% year-over-year increase in annual recurring revenue from fiscal 2022 and a 105% increase in revenue from licenses. We hit our previously stated guidance and have increased our guidance for fiscal 2024. Charlie Glavin, our CFO, will get into more detail on our results after my remarks. As we look ahead to fiscal 2024, we remain enthusiastic at what we see on the horizon. We anticipate closing more deals in the banking channel by year end. Our land and expand strategy will continue to thrive as we go deeper with our Fortune 500 client base. We plan to further expand our new and existing client base with our Radius Control Tower product later this year, which will further drive revenue. and ARR growth. With that, I will pass the call over to Charlie to walk you through the company's financial performance. Go ahead, Charlie.