ProntoForms Corporation

Good morning, ladies and gentlemen, and welcome to Pronto Forms Corporation first quarter 2021 results 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 assistance, please press star zero for the operator. This call is being recorded on Thursday, May 6, 2021. I'd now like to turn the conference over to Babak Padram, Director of Investor Relations. Please go ahead.

Thanks very much, Pam. Good morning, everyone. Thanks for joining us this morning. Before we begin, I will read our cautionary note regarding forward-looking information. Certain information to be discussed during this call contains forward-looking statements within the meaning of applicable security laws, including, among others, statements concerning the company's 2021 objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Also, our commentary today will include adjusted financial measures, which are non-GAAP measures. These should be considered as a supplement to and not as a substitute for GAAP financial measures. Reconciliations between the two can be found in our management discussion analysis, which is available on CDAR and our website. And finally, note that because we report in U.S. dollars, all amounts discussed today are in U.S. dollars, unless otherwise indicated. With that, I will hand over the call to our CEO, Mr. Alvaro Pombo, to go over our operational highlights for the quarter.

Thank you, Babek, and thank you, Pam. Good morning, everybody, and welcome to our company's conference call. Before I hand the call over to our CFO, David Croucher, to discuss this quarter financials, I would like to take some time to discuss the Prontoforms business. Q1 2021 was a good quarter for us. Our ARR base increased by 4.7%, back to a level that we're accustomed to. As we discussed last quarter, we ended our relationship with AT&T, which resulted in a strong direct customer base with multi-year contracts, but it did result in churn and lower net bookings in Q4. Even though COVID is still affecting some of our customers, we are pleased to return towards our growth trajectories. In Q1, we started to see results from our clarity in our go-to-market strategy. Our efforts in our four target verticals have resulted in positive progress in new logo acquisition and in existing customer expansion motions. Execution in both has improved with this customer focus. Our pipeline generation motions are also more precise and our passionate focus on the first line or frontline worker is starting to create a stronger solution differentiation in the market. Some of the customer highlights on this quarter include a global oil and gas enterprise expanded their ProntoForms deployment for a three-year agreement with 400 subscriptions. The deployment of ProntoForms improved their safety and compliance workflows. A global medical manufacturing organization expanded their deployment of ProntoForms to over 1,300 additional subscriptions. On a three-year agreement, they integrate ProntoForms with a leading field service management system. A global enterprise customer deployed ProntoForms to over 100 technicians to remove paper from a field and to reduce risk in data collection during the propane inspections. Their technicians can now perform more efficient inspections, and make informed decisions on site. Last, a global medical brand that manufactures sophisticated healthcare equipment deployed ProntoForms in a staged rollout to over 800 field technicians. The organization uses ProntoForms for multiple use cases, including administering preventive maintenance, mandating FDA compliance, and completing inspections. These are simply a few examples that I wanted to highlight as they reinforce our progress in go-to-market strategy in our four target verticals. As stock leaders in this space, we have ongoing programs to communicate our vision to our target markets. Together with the Service Council, we hosted digital transformation Zoom events for field service leaders, featuring moderated panel discussions with field operation executives from all devices and heavy manufacturing organizations. These advocacy programs help us form deeper connections with our customers, prospects, and partners. By the way, next Wednesday at 2 p.m. EST, there is one entitled A Technician and Executive Sit-Down, Fostering Technician Loyalty, Retention, and Satisfaction. And this is called with a panel that brings together executives and technicians on the call. The participants are from Schneider Electric, Trend Technologies, and Cummings, and they'll be talking on how to improve satisfaction across the board. I will invite you and I will welcome you if you can join us. Now, let's talk about our product. Our team work feature has received further improvements, increasing more use case of field technician collaboration. Also, we have been improving our Salesforce integration, as well as the way we enable Salesforce as admin to experience our product while their discovery phase via the app exchange. Finally, after learning details regarding the U.S. government infrastructure plan, we believe there are great opportunities for ProntoForms to empower the frontline workers who will be key in these large-scale projects. In summary, as CEO, I'm very proud to say that our customers truly appreciate our product Evidence of this is how they expand multiple news cases and subscribers. We have a good team with a strong conviction and focus, and we have the financial resources to scale our growth. Last but not least, we also had a very important Front of Forms board addition, Scott Berg, former CEO of ServiceMax and current managing director at Tenex CEOs. has joined. Scott adds invaluable field automation go-to-market knowledge and strengthens our overall board. I will now defer to Dave to discuss our financial results for the quarter. Dave.