Wishpond Technologies Ltd.

The conference call will be starting shortly. Thank you.

Thank you everyone for joining us today and welcome to Wishpond's 2023 fiscal fourth quarter and full year 2023 financial results conference call. My name is Adrian Lim, group controller, and joining me on the call today are Ali Tashkandar, chairman, founder, and CEO of Wishpond, and David Pace, the company's CFO. This call is being recorded and we will be having a question and answer session at the end of the call, which will be limited to analysts only. I trust that everyone has received the copy of our financial results press release that was issued earlier today. Listeners are also encouraged to download a copy of our quarterly financial statements and management and discussion and analysis from cedarplus.ca. Please note portions of today's call other than historical performance include statements of forward-looking information within the meaning of applicable securities laws. These statements are made under the safe harbor provisions of those laws. Please refer to today's press release and in our management discussion and analysis for disclosure of risks and uncertainties. We provide forward-looking statements solely for the purpose of providing information about management's current expectations and plans relating to the future. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, assumptions, or circumstances on which any such statement is based, except if it is required by law. We use terms such as adjusted EBITDA, annualized revenue run rate, and monthly recurring revenue on this conference call, which are non-IFRS and non-GAAP measures. For more information on how we define these terms, please refer to the definitions set out in our management discussion and analysis. And with that, let me turn the call over to Mr. Ali Tazkandar, Chairman and CEO.

Thank you, Adrian. Good day, everyone. We hope that you are all keeping well. We truly appreciate everyone for joining us today. On today's call, I will first provide some general commentary and an update on the quarter and the full year ended December 31st, 2023, followed by our CFO, David Pace, who will provide a financial summary of our results. I will then come back and provide some commentary on our outlook. 2023 was a transformational year as Wishbone underwent the two most significant new product initiatives in the company's history. The first being the launch of Propel IQ, our next generation marketing platform, and the second being the development of our suite of AI-powered marketing tools, including our flagship Sales Closer AI product. We believe the combination of Propel IQ and Sales Closer AI positions Wishpond for the next phase of the company's growth. Propel IQ firmly places Wishpond in an elite league amongst very few digital marketing companies and all in one bundled sales and marketing platform. Meanwhile, the recently launched Sales Closer AI product launch is garnering tremendous interest in the industry. We believe artificial intelligence is going to completely change the way that companies will do sales calls and demos in the future. And Sales Closer AI is leading the charge in this evolution. We are very excited about the company's outlook for 2024. In Q4 2023, we completed the transition of our sales team to selling our new Propel IQ product, which we expect will be a key driver of revenue growth this year. Furthermore, Propel IQ has higher gross margins, lower customer churn, and greater customer lifetime value compared to the company's other product offerings. We are expecting to improve profitability this year as we aim to achieve positive adjusted EBITDA in each quarter of 2024. Our cash position should also improve in 2024 as a result of higher revenues and because the company has now completely paid out all of its earn outs related to prior acquisition. We feel confident in our ability to fund the company's future growth through cash flow from operations and the company's $6 million credit facility. Turning to our financial results, I'm very pleased with our record fourth quarter and record annual revenue, which one achieved revenues of $6.1 million in Q4 2023, representing approximately over 24 million annualized revenue run rate driven by the company's focus on organic growth and successful market positioning. We are also pleased to report the sixth quarter in a row of positive adjusted EBITDA, demonstrating our commitment to profitable growth. Wishbone's cost optimization efforts over the past year have contributed to the company's continued positive adjusted EBITDA profile. Our outlook is strong and positive for 2024. I would like to emphasize that despite 2023 being a transition year, Wish Fund continue to increase its revenue and we achieved positive adjusted EBITDA in each quarter in 2023. With renewed optimism based on continued sales growth and improving cashflow, we expect our accelerated hiring of new sales resources will drive growth in 2024. We are also experiencing increasing demand for our products as we continue to transition to the bundled Propel IQ product offering and leverage our suite of AI marketing solutions, including sales closer AI. I will provide additional details on our output later on the call, but first I would like to turn it over to our CFO, David, who will review the financial results for the year.