ProntoForms Corporation

Good day and welcome to the Pronto Forms Corporation Second Quarter 2022 Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Babak Pedra. Please go ahead, sir.

Thanks very much, and good morning, everyone. 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 2022 objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intention, 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 is 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.com and our websites. 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. Please go ahead, sir.

Hey, good morning, Babak, and thank you, Sergey. Good morning, everybody, and welcome to our company's conference call. Before I hand the call over to Dave, our CFO, to discuss this quarter's financials, I would like to take some time to discuss the pro-performance business. Hey, we started 2022 with a disappointing Q1. In the second half of 2021, we added new leadership, followed by large changes to the sales organization. Q2 2022 showed improvement, but didn't reflect the volume that we expected. We finished Q2 with 9% annual growth in recurring revenue and 2% over Q1. We had an important enterprise expansion in Q2 with growth that is expected to continue. After the lag in bookings in the first half, we are seeing value building up. We are seeing more new and expansion activities, and we're confident that we have a capable enterprise go-to-market structure that is as scaly as our enterprise salespeople ramp. We recently passed the $20 million ARR milestone. 51% of the base now comes from enterprise size, higher than 2,500 employees, customers. And 41% of the base comes from customers with greater than 100K of ARR each. This is a crucial ARR milestone for SaaS companies. Compared to other size businesses of our size, we have a strong foundation, excellent logos, very good retention, high gross margin, and good capital efficiency. I recently had a meeting with a large enterprise customer that is looking to expand their footprint. They are concluding their retooling of two core back-office systems, and we're seeing that the demand for more workflows in the field is increasing substantially. Their new systems offer some difficult ways to do that. But as they progress, the cost and complexity make them reassess their approach. They're exploring instead scaling ProntoForms to be their prime tool to help them accelerate their field automation to scale their business. This week, I was invited to give an opening keynote at Field Services, one of the largest shows in our industry held this year in Hilton Head. I shared with the audience our vision of how agile automation can unite their field teams. The model basically enables a greater level of collaboration around workflow improvement between the field sales leaders, the field service analysts, and the technicians or engineers, resulting in durable customer value. I shared with the audience some of the key results of our annual customer survey that clearly shows powerful business ROI and major impact in the technician productivity and job satisfaction. I also shared the incredible stat that 80% of the workflows built with ProntoForms are up and running in less than eight weeks. The message resonated very well with the audience and we had the opportunity to demo diverse use case examples at the booth, which are becoming templates to help simplify and speed the implementation even further. The increased demand of enterprise automation in response to the challenge of technicians' enablement is not going away anytime soon. People identify with our proposition and message. As you may imagine, we did secure many opportunities from this show, a great show. This year, We have Empower 2022 in Austin at the end of September. We will be in intimate meetings with key customers who will learn and be inspired by their peers on how ProntoForms is used in multiple industries of hundreds of diverse use cases. It will also provide a formal and informal setting for establishing deeper connection between our customers and our go-to-market teams. I wanted to share just a small sampling of solution sharing and advocacy that attendees will experience. A global brand in the medical industry will be sharing how ProntoPars is a key mobile technician enablement strategy they have developed and grown, fully integrated into Salesforce, and has facilitated them to rapidly grow their business to meet a booming demand. They also leverage our solution to more rapidly onboard and ramp technicians to full productivity in a fraction of the time that it took them in the past. Another example is a leading utility service provider will be doing a deep dive into how rapid and agile deployments of ProntoForms has enabled them to reach and drive incredible ROI and has utilized ProntoForms capabilities as a strategic differentiator for earning business and contracts throughout Multiple divisions, seven divisions. One of the largest elevators and escalator brands in the world will be sharing their stories of how ProntoForms is quickly becoming their prime solution for tracking installations, maintenance, and service compliance, in addition to being a powerful solution enabling technicians to handle complex service reliability. The focus of product development for much of this year has been on improving technician experience and productivity. In Q2, we introduced a number of features that enable app users to review, capture, and revise data sets more rapidly and accurately. This means better and more comprehensive data and analysis for our customers, but it also means technicians that are more content to adopt the solutions and contributes to their overall satisfaction with their work. Q2 also saw improvements to integration features with online services for Microsoft and Google Workspace, and with more in progress for other leading CRMs and field service management systems. With these, we continue to push to enable the business technologies or citizen developers within our customers and minimizing the need to have pro IT admins and developers. Our people and culture focus continues to evolve. We're back at the office in hybrid mode. We have been improving our tactics to deal with the people challenges that we're all living through. Our strength is our culture, so we continue to focus on growing a company culture that is attracting the best talent. As CEO, it's an exciting time to be in this industry. Lead a team of talented professionals. and most importantly, provide a solution that improves the life of those field technicians that keep our world running. I will now pass the call to Dave to discuss our financial results for the quarter. Dave.