ProntoForms Corporation

Good day, ladies and gentlemen, and welcome to the Pronto Forms Corporation third quarter 2022 results conference call. For your information, today's call is being recorded. At this time, I would like to turn the conference over to your host, Mr. Babak Pedram. Please go ahead, sir.

Thanks very much, Elaine. 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 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 and 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, Alvaro.

Hey, thank you, Babak, and thank you, Alain. Good morning, everybody, and welcome to the Pronto Forms third quarter earnings conference call. Before I hand the call over to our CFO, David Croucher, to discuss these quarters for financials, I would like to take some time to discuss the ProntoForm business. Although we had a difficult start to 2022, I'm pleased to report that our focus and drive of our enterprise expansion strategy has started to realize ARR growth in both absolute and proportion of total ARR. As the enterprise account managers hired last year, are becoming increasingly productive. We continue to allocate our resources to expanding the number of large enterprise customers, as well as expanding their use of our products as they show increasing acceptance of the high ROI that we can drive in their field service activities. We also achieved declining overall churn, led by the enterprise segment. where we typically enter long-term contracts and enjoy superior renewal performance. We continue to execute our plan, holding overall costs steady while shifting investments towards the enterprise sales. Gross margin remains high, and when combined with the ARR growth, it's a great sign that we're reducing losses and maintaining a good cash position. As the world finally started opening its economy this year, We've been very active in meeting face-to-face with our existing and prospect customers. We hosted our Empower 2022 customer conference in Austin, Texas, and brought together field service leaders to discuss the impact of rapid automation and the future of the ProntoForms platform. It was remarkable to see how our customer champions, which belong to very large enterprises, sharing diverse use cases and positive business impacts. It was inspiring the audience to do more with our products. We provided our customers an early view of the product roadmap, which was very well received with great excitement and anticipation around all the features we revealed. Our product constantly evolves influenced by our customer needs. Expect to see in the coming weeks a press release outlining these very powerful enterprise capabilities being released. We were also present at the Service Council Symposium in Chicago this fall, a very important event for service leaders. We were the proud recipients of the Best Overall Solution Award. I'm currently in Europe visiting customers. Yesterday, I saw how a world-renowned logistics company uses our product in both warehouse and field environments. I was very proud to see that every box that is shipped out of a warehouse is assisted by robots, plus inspected by humans using ProntoForms. This quality control step has reduced quality complaints by 94%. And this is just one of the many processes where ProntoForms is deployed. There are a few hundred more warehouses left to adopt these processes, this is a significant expansion potential for this account that we're actively pursuing. Also, as you all know, the energy sector is in an upswing. A top five global oil and gas enterprise expanded its deployment from 100K ARR to over 300K to ensure optimal production on worksites and safety and environmental compliance. Two other multi-billion dollar oil and gas enterprises expanded their front forms deployments to improve drill operations and compliance reporting. In our operational highlights, there are some other sizable examples of manufacturing, construction and facility management, and other industries, all with the same challenges. Mobility has been proven. Now it's time to scale its use throughout organizations rapidly and efficiently. That can only be achieved with an agile enterprise solution with capabilities like ProntoForms. The speed of our product innovation is increasing, and business owners, citizen developers, and field technicians are constantly providing us with great feedback that we incorporate into our product. It is a powerful enterprise product, rich in features and capabilities, but above all, with a consistent level of simplicity that accelerates adoption and demonstrates clear ROI. Earnings saw a passionate response from customers and lots of expansion potential within our base. We recognize that we will see challenging markets ahead, and we're making sure that we are maximizing productivity in all parts of our organization, especially in our go-to-market. The uncertain labor and economic conditions provide us with a unique opportunity as field leaders need to automate faster than ever before. 80% of our customer deployments are achieved in less than eight weeks, delivering reliable workflows, measurable ROI, and most importantly, a great technician experience. We are not seeing a slowdown in the opportunities, and we have ensured that we have the financial capability and capacity to deliver results. A CEO is an exciting time to be in this industry. leading a team of talented professionals, and most importantly, providing a solution that improves the lives of those field technicians that keep our world running. I will now pass the call to discuss our financial results for the quarter to Dave. Dave.