Wecommerce Holdings Ltd.

Good afternoon. Welcome to WeCommerce's second quarter 2022 financial results conference call. After market close, WeCommerce released financial results for the period ended June 30th, 2022. The press release as well as the replay of today's call can be found on the company's investor relations website at investors.wecommerce.co. Please view the release for additional information on what will be discussed during today's presentation. The company will make forward-looking statements on the call today that are based on assumptions and therefore are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The company undertakes no obligation to update these statements, except as required by law. You can read about these risks and uncertainties in the press release issued by the company this afternoon, as well as in our filings on CDAR. Note that the adjusted financial measures the company speaks to today are non-IFRS measures which are not a substitute for IFRS financial measures. Reconciliations of these measures to IFRS measures are available in the company's earnings release and most recent MD&A. I will now turn the call over to WeCommerce CEO, Alex Pearson.

Thank you, operator, and good afternoon, everyone.

I'm joined today by Dave Chiron, our Chief Financial Officer. I'll provide some brief opening remarks before turning it over to Dave to discuss our financials in greater detail. followed by our standard Q&A. Our second quarter results reflect a return to seasonality and normalized demand environment in the e-commerce, though it continues to be impacted by persistent high inflation, higher advertising costs, and supply chain bottlenecks. Through the first half of 2022, e-commerce spending increased 7.5% year over year, according to Adobe's Digital Price Index, which is about half the growth during the pre-COVID era on a nominal basis, so not adjusted for inflation. As a result of the slowing demand environment, we reduced costs significantly in our pixel union themes business, which is more sensitive to new merchant ads, and fully paid down our revolver, all in furtherance of our disciplined approach to managing costs and our balance sheet. We continue to invest in R&D to build the leading e-commerce enablement provider for merchants worldwide, all the while continuing to generate significant operating cash flow. I'll turn it over to Dave to provide more detail on our Q2 financials.