Voxtur Analytics Corp.

Ladies and gentlemen, good morning. Thank you for standing by. Welcome to the Voxter First Quarter 2021 Earnings Call. I would now like to turn the conference over to Jordan Ross, Voxter's Chief Investment Officer, for opening remarks.

Thank you and good morning, everyone. Thank you for joining us for the Q1 2021 Earnings Call of Voxter. Joining me today, our Chairman and Chief Executive Officer, Gary Yeoman. President Jim Albertelli and Chief Financial Officer Robin Dyson. We caution you not to place undue reliance on forward-looking statements and undertake no duty or obligation to update any forward-looking statements as a result of new information, future events, or changes in our expectation. On today's call, we will report using both IFRS and non-GAAP financial measures. We use these non-GAAP financial measures internally for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons, as we believe they provide meaningful information with respect to the financial performance and value of the company. Non-GAAP financial measures are presented in addition to and not as a substitute for financial measures calculated in accordance with IFRS. To see the reconciliation of these non-GAAP measures, please refer to our press release distributed earlier this week on May 31st and our management discussion and analysis, both of which are available at sadar.com and on our website at voxter.com. A replay of today's call will also be posted on the website. Finally, please note that all references to amounts or currencies during today's call are in Canadian dollars unless otherwise stated. I will now turn the call over to Gary Yeoman.

Thank you, Jordan. And good morning, everyone. And thank you for joining us. This was a great quarter for our company as we continue to execute against our strategic growth initiatives and deliver strong financial results. Specifically, we achieved 183% increase in revenue and 197% increase in gross margin year-over-year for the first quarter. This substantial increase comes as a result of critical milestones achieved by the company, both in the fourth quarter of 2020 and the first quarter of 2021. In October 2020, the company acquired the assets of Apex Software, which added critical functionality to our desktop valuation platform and enabled us to cross-sell our existing products throughout the United States to more than 2,200 existing Apex clients. In February 2021, the company acquired the assets, sorry, in February 2021, the company acquired Boxer Technologies, Brightline title, and certain technology assets of James E. Abertalli. This acquisition of the Boxer Group was a critical turning point that prompted the company's name change from I Look About to Boxer and laid the foundation for future growth. Specifically, this acquisition allowed the company to expand its footprint in the United States, and to diversify its related focused offerings. The first full month of operations for the consolidated entity, including the Boxer Group, was March 1st to March 31st, 2021. For this period, consolidated revenue was approximately $7.3 million. From the date of acquisition, February 3rd to March 31st, 2021, the Boxer Group generated revenue of approximately $8.7 million. Had this acquisition been completed in January, we estimate that the revenue generated by Boxer for the three months ended March 31st would have been approximately $12 million. This would have resulted in consolidated revenue for the quarter of approximately $17.8 million. Further, the company achieved a 275% increase in adjusted EBITDA year-over-year for the first quarter, going from a loss of $665,000 in the first quarter of 2020 to a $1.2 million gain for the first quarter of 2021. The Voxer Group generated adjusted EBITDA of approximately $1.7 million. Had the acquisition been completed, we estimate the adjusted EBITDA generated by the Voxer Group for the first quarter would have been approximately $2.7 million. This would have resulted in consolidated adjusted EBITDA for the first quarter of approximately $2.2 million. Finally, in March 21, the company entered into an agreement to acquire ANOW, or what is known as Appraisals Now Limited, an automated appraisal workflow management platform for the global appraisal market. This is a pivotal acquisition for Voxter that bolsters our recurring revenue stream and accelerates the development of our data ingestion engine. In addition to these accretive acquisitions, the company has taken steps to maintain financial stability in the face of headwinds caused by the COVID-19 pandemic and resulting foreclosure moratoriums. Specifically in February, we expanded our partnership with the Bank of Montreal by increasing our credit facilities with the technology and innovation group. They also invested in our company as well. as equity investors. And further in March, we closed an oversubscribed non-broker private placement of common shares of the company for gross proceeds of $35 million. We believe the success of the private placement is a strong sign of confidence from our investors and reflects their support for our growth strategy. As you can see, we have had a strong first quarter and are well positioned to continue our growth trajectory throughout the remainder of 2021. I'll now turn the call over to Voxer President Jim Albertelli to provide additional guidance as to the company's strategic plan for the remainder of 2021.