All right. Good morning, everybody. Thank you for joining us this morning for Dropsuite's Q2 results presentation. With me on the call today, I have Charif El-Ansari, who is the CEO, and Bill Kyriacou, who is the CFO of the company. With that little introduction, Charif, I will turn it over to you to go through the presentation. One bit of admin I should quickly highlight. Just to ask a question, please use the Q&A facility at the bottom of the Zoom screen. If that's not working, send me an email, craig.sainsbury@marketeye.com.au, and I'll ask your questions at the end of the call. With that, turn it over to you, Charif. Thank you, Craig. Good day, everyone. I'm really glad to be here to present another solid quarter for Dropsuite. Allow me to start, as always, with a short introduction for those who are new to Dropsuite and to our story. Dropsuite simply exists to safeguard business information to help businesses stay in business. We are 100% SaaS scalable recurring revenue company, building software that is highly scalable, very global, with more than 500,000 users around more than 100 countries. We've been validated for the second year in a row as the email backup leader by Info-Tech. We'll talk more about it throughout the presentation. Perhaps most importantly, we have a highly committed and passionate team across Asia- Pacific, North America, and Europe. Let me first talk about the market overall that we are operating in. This is a fast-growing market. The average growth expected all the way until 2025 is north of 20% per year. This is propelled by some solid tailwinds. First and foremost, the crazy growth of ransomware and cyber threats and the ensuing data loss threats that are really infecting companies, organizations who are also in government as well, small companies, big companies. I'm sure you're hearing tons of news stories talking about ransomware. That's the number one tailwind propelling the industry growth overall. The second one that continues to grow in importance is the growing regulation around data privacy. This started in Europe, and it is expanding to many areas around the world, including countries like Australia and Brazil and Singapore. Thirdly, we continue to see this massive cloud migration from on-premise, where people were using servers in their own office or in their data center, moving a lot of their workloads to the public cloud. Just as a case in point here, when you look at Office 365, they grew their users from 70 million in 2016, all the way to more than 300 million in the first half of 2021. Bottom line, this is a massive industry that is expected to grow double-digit for the foreseeable future. Let me quickly introduce our product suite that has been evolving over the years. Our origin started with website and database backup, upon the founding of the company in 2012. Then we expanded into basic email backup, then on-premise Microsoft backup, which is called on-premise Exchange. Then we launched Microsoft Office 365 Backup. Most recently, we launched the complete backup solution for Google Workspace, which is basically Google's answer to Microsoft 365. Our product suite is packed with meaningful features that are very popular with our partners and with our customers. Everything is fully automated. Being able to restore data is as simple as one click. We have lightning-fast search capabilities that enables our customers and our users to find what they're looking for within seconds. We also are very unique in our ability to combine backup with compliance and archiving capabilities for the lawyers and for the compliance officers, so they can sift through the data quickly in case there's a lawsuit or if there's a regulator query that affects the company that is archiving its data. We also introduced, some time back, GDPR, which is the EU data privacy laws module, and we talked a bunch about how we help companies comply with laws, whether it's GDPR or Healthcare Act in the U.S., et cetera. We deliver our products via an ever-expanding partner set. We are a partner-led company. We have partners that operate as hosting providers or cloud IT distributors and managed service providers. Just to remind everybody, a managed service provider is where companies outsource IT to, right? They tend to work with small and medium businesses and mid-enterprise customers, and they take care with all their IT needs. While we expanded our IT reseller partners by about 10% quarter-over-quarter or 8%, it's really important to note that we're only counting partners that we have signed a contract with and we bill every month. We are not counting hundreds of MSPs that are transacting on our platform every single day. We're already now approaching about 2,000 partners, direct and indirect, transacting with us, and that helped us reach the very nice milestone of exceeding 500,000 users in the June quarter of 2021. We absolutely love this business model because it helps us scale really well across sales support and marketing. We can double down on product improvement and product innovation. It also allows us to grow our revenue at a much faster rate than our operating expenditures, with a very solid path to operational leverage. Now, how we win and what is the advantage that we derive in the marketplace, we deliver this partner experience very seamlessly. We integrate into the partner infrastructure. We let the partner work on Dropsuite through their existing workflows, where provisioning, billing, support, everything is taking place through their existing ERPs and their existing workflows. We also deliver an exceptional user experience, intuitive interface. We talked about lightning-fast search, very granular restoration capabilities. We talked about how we're being unique in combining backup and archiving and compliance in one product. This is something that our partners and our users absolutely love. We deliver all of the above with a cutting-edge cloud platform. We've been cloud native since day one. We've been using the public cloud since 2012, since our founding. That means we don't have any hindrances. We don't have any issues with legacy like many of the players in this market. Very importantly, we have a very highly responsive team that is absolutely loved with our partners and our clients. Now, this has delivered and continues to deliver some very meaningful validation. If you look at the quadrant here, for the second year in a row, as we further up to the right, Dropsuite Office 365 Backup was number one by SoftwareReviews, and this is a company called Info-Tech operating in North America that has been in the software review business since the 1980s. This is something that we are very proud about, and the team is very proud about, and continues to help us achieve more credibility and more brand visibility in the markets that we serve. I want to double-click a little bit more, and this slide is not in the investor presentation that was launched today. This is available, by the way, on our website. If you go to dropsuite.com, you can find it very quickly. If you look at what our customers and our partners are saying about us, you can see that we rank very strongly across multiple attributes, from features and capabilities to something more emotional about integrity and reliability and generosity and caring for the customer in a meaningful way. We combine both the best end results. We also lead in terms of the emotion as well. If you look at the lower part of the slide, you can see that 97% of the people who were interviewed for SoftwareReviews are likely to recommend, 100% are planning to renew, and 87% are satisfied with the cost relative to value. This gave us the very high ranking that you see being 9.3 out of 10 on the composite score. With that, we have been able to continue delivering on terms of product innovation. We mentioned that we launched the full Google Workspace in Q2, and that positively affected our numbers. We also, as we mentioned this in the operations update, have launched a new partner portal. As we expand the number of partners globally, we want to continue enhancing the experience, and that's something that we've launched right now in North America with very positive feedback from the partners who are using the new partner portal. We obviously continue to focus on growing our partnership. This is both getting mutual success with our existing partners, as well as onboarding new strategic partners that we expect to see more of in the second half of 2021 calendar. Finally, the third pillar of our growth is to continue boosting our revenue per user. We've seen that delivered very well in this year. Actually, it's been delivered quite well since about a year and a half. That is driven by the continuous shift mix into the higher priced, higher featured product like Office 365 Backup and archiving as one. We also continue to reduce our revenue concentration with the top 10 revenue contribution being sub 70%. That's a first in this year, in 2021. Q1 and Q2, we've delivered that. That's a first since 2014, just to put things in perspective. Now, with us delivering on solid results, product leadership, partner expansion, recognition from SoftwareReviews as the number one backup vendor for Office 365, we have delivered some very solid results in the June quarter. I will let my colleague, Bill, take us through the results. Thank you, Charif. I'm pleased to report continued solid growth on our key metrics across the business for the June quarter, with ARR increasing 15% from $ 9.56 million -$ 11.03 million in the June quarter, where we saw further momentum with the ARR growth, which was a culmination of strong end user growth, increasing reseller partners, and a solid 5% increase in ARPU for the quarter. We can report our normalized operating cash burn for the June quarter, sorry, was pleasingly down 87% to $ 21,000. That's down from $ 165,000 in the March quarter, with cash on hand at $ 2.4 million. With regards to our cash receipts, our cash receipts were materially higher, 5% quarter-on-quarter on an actual basis and 11% higher on a normalized basis for cash receipt. We normalize cash receipts due to early or late receipt of material customer funds that arrive within a couple of days before or after the quarter end. For the June ending quarter, there were no material normalizations that were accounted for. The total cash used for operating for the month for the quarter of June was $ 21,000, overall for the group, it was just shy of $ 40,000, $ 39,000. Included in that, we have cash used in investing activities of $1 7,000, which is for equipment for newly onboarded staff in the quarter. We also had cash on hand at $ 2.4 million. Thank you, Charif. Thank you, Bill. Short and sweet. As you saw, our results have been positive across the board. We are delivering our commitments in terms of continuing our growth while at the same time investing responsibly in the company. You can see that our growth has continued really solidly throughout. You can also see that our churn continues to be at world-class below 3%, keeping in mind that the industry churn overall is between 5%-7%. We covered ARPU with an 18% growth year-on-year and end user growth of 51% year-on-year. Again, if you look at the whole picture from December 2015 onwards, we have been delivering solid double-digit growth throughout, and we are very optimistic about our outlook going forward. Before I talk about the outlook, I just want to remind everyone that 2021 is our focus on honing and improving and innovating around what we have versus building and adding new products that will start showing in 2022. For this year, our calendar year, our intention is to have the single vendor story, the one-stop shop for our partners, where we can back up and archiving literally any email platform out there. We cover every geography with now 14 data centers. We just launched a new one across Americas, Australia, and everything in between. We are able to appeal to customers anywhere from micro businesses all the way to mid enterprise of thousands of employees. We can cater to many of the verticals, including those that are regulated. We are working on several certifications. One is something called FedRAMP for the federal government of the U.S. That's something in the works in Q3, Q4, so we can work more closely with either vendors selling to the federal government or to the federal government, U.S. federal government itself. We're also putting our finishing touches for SOC Two-Two, which is a very critical certification for companies usually above 500 or 1,000 employees, where they look at SOC Two as a signal that you are dealing with privacy and security with utmost seriousness and compliance. We finished SOC Two-One in November 2020, and it usually takes one full year so they can observe you, how you operate before they give you the certification in November, December of 2021. With all that's going on in terms of solid execution, product recognition, tailwinds affecting the whole industry, we continue to be optimistic about our ARR growth, end user growth. We also will continue investing in future growth. We onboarded a record number of new employees in Q2, calendar Q2, and we expect to do more. However, we continue to do that responsibly, ensuring that we achieve cash break-even and profitability within this year, calendar year. Expect us beyond 2021 to expand our product offerings, both building them organically within our team that has been expanding as we talked, we're investing in the company, as well as through high conviction strategic acquisitions when we see something that strongly complements our offerings. When it comes to investment, we will invest in people, bench strength. We will invest in added sales and marketing activities in the second half of 2021 and beyond. One thing that's been already confirmed that trade shows and conferences, which is one of our most effective way to derive brand visibility and leads is trade shows and conferences. That will start opening up in the U.S. and the U.K. starting with September. With all of this, really bottom line, we are very optimistic about our future. We have a great team, great products, and we are very fortunate to be operating in a fast-growing industry with tailwinds propelling our growth. With this, I will conclude our presentation, and will be absolutely happy to answer your questions for the next 15 minutes, 20 minutes. Thank you. Thanks, Charif. Thanks, Bill. Just a reminder to everyone on the call, if you want to ask a question, just use the Q&A facility through Zoom, and we'll ask the question. All right, Charif, first one is: within your existing channel partners, how many potential end users are there? When we look at the industry overall, one thing that we're also blessed in is that our number one` competitor is white space. When I look at the net new business that we're adding every quarter, and if I want to give an educated guess, I would say 90% of the new business that we're getting is coming from companies who have never done any data protection for their cloud applications like Office 365, r ight? The 10% is usually displacement. When I look at our existing partner base, and when I look at our existing distributor base, I would, again, estimate that we still have about 85% of that market is up for grabs. As we continue executing well, growing our team, expanding our partners, that number will continue increasing as we expand our footprint globally. Great. Thank you. Next question is, performance has been strong. Were there any particular geographic areas that performed well during the quarter? The two areas that performed the best is really reflective on where we are putting our resources. Those are North America, where we have the largest sales presence, and also Europe, where we've been investing lately in more capabilities and more visibility and more staff. These are the two areas that are really shining. Asia- Pacific is growing, but from a smaller base. Again, as we talk about investment in the future, we intend to also add more resources in Asia- Pacific, specifically OECD countries or developed countries in Asia- Pacific, at least for the next couple of years, before other countries like India and Indonesia reach a higher level of IT maturity. Great. Thank you. Just another one on growth. What proportion of growth is coming from existing partners versus new partners? I would say it's a very healthy mix of both. We don't usually separate those two. One thing to look at is, if you look at the concentration of the top 10 partners over time, you can see it's been declining because we're getting newcomers and an increase in new partners or customers who are contributing to the top 10. That's number one. Number two, we are holding ourselves accountable to a very high bar in terms of revenue concentration because we're not looking at it as a percentage of the total number of partners. Of the 2,000 partners that we're looking at, we are counting only the 350 partners. I'm scrolling down, my apologies, to explain on the slide. When we look at the top 10, we are looking at the top 10 of the 350, and that's where the revenue contribution is at, 68%. If you look at it over the 2,000 partners that we have, that revenue concentration will drop sub 40%. Just keep that in mind when you listen or when you see our revenue concentration metrics. Great. As a sort of follow-up question on that one, and while you're on that slide is, who are the biggest MSP partners that you work with? Those are not household names, unfortunately. When it comes to the hosting providers or IT distributors, I will throw out some names that might be known to those attending the call. For example, Crazy Domains in Australia is a partner of ours on website hosting. Ingram Micro, who's one of the largest IT distributor in the world, is a partner. Pax8 in the U.S. and now growing in Europe and possibly Asia- Pacific is another great partner of ours. Unfortunately, not household names, but they're really successful in what they do in the industries that they serve. Great. Another question that just sort of references that slide, Charif, is can you provide an update on marketing to enterprise and government clients? Any significant wins or progress during the quarter? I have to say that we have delivered some good results in Q2 on the mid-enterprise. We're defining mid-enterprise, which is really also enterprises between 1,000 to 4,000, sorry, 5,000 users. Actually, that was one of the reasons why we saw stronger growth in the June quarter with 80%+ year-on-year ARR. What we've done on the enterprise side or mid-enterprise side is that we have doubled down on working with partners who are very focused on the mid-enterprise and enterprise segment. There are several partners that we've onboarded in the last few months that do not dabble in the SMB space. They solely focus on the mid-enterprise and enterprise, and that is starting to show results. Now, government will take a bit longer for us because we are still at early days of having the government cloud live and getting the right certifications in place. That's going to be more in the next three to four quarters. Great. A couple questions on customers now, just changing tack a little bit. Are the top customers locked into contracts, or are they on a month-by-month basis? If they are on a contract basis, what's the standard term of a contract? Usually our contracts with our IT seller partners, and I am talking about the 350 partners, those tend to be annual contracts, and they have a auto-renewal clause, r ight? If nothing happens, if there is no notice given by each party, the contract will renew for another year and thereafter. There are some at two or three years, but in general, it is one year. When it comes to the service provider, the MSPs buying the service from the IT distributors, we were the new kid in the block two to three years ago. There was nobody. We were nonexistent in that channel. What we did is we took a very fresh approach to getting into that market. Historically, backup vendors tend to lock MSPs with longer-term contracts, and they tend to hold the data hostage and charge them an arm and the leg if they want to extract data out of that backup vendor's platform. When we came, and as I said, the new kid in the block, we came with a completely fresh approach to doing business with MSPs. We told them, "It's month- to- month, you can leave anytime. We're going to give you the most simplified billing ever, so you don't have to worry about how you bill your end client. Guess what? You can download your data from our platform for free anytime by yourself without us having to intervene." That has created a solid reputation in the market and a solid trust in the market in a, I would say, in a record time. I mean, you're talking about 2,000 MSP partners in less than three years. Then for those who are worried about churn, you can see that our churn, despite this very generous way of doing business, is sub 3% on an annualized basis. Great. Another question on the customer. Are the switching costs high for the end customer, and are they high for the IT distributors? I would say the switching costs depends on the implementation. The deeper the integration is, we use something called APIs, so they can take our APIs and deeply integrate our product into their platform. The deeper that is, the more difficult it is to extricate yourself out of it. However, as I said, we also make it easy for the smaller MSPs, right? These are small businesses or small and medium businesses selling to their end clients. We really don't stress them out with locking them in anything. If they want to leave, we make it easy for them to leave. This applies for the lower tier, like the MSP here that you can see, just below IT distributors. With IT distributors and hosting providers, it's more difficult just because of the virtue of the tight integration that we have with them. However, it's not impossible. Yeah. Another question on the customer. When you get a new IT partner on board or a new customer, do you ask them the reason for buying into a backup service? Do you know whether the majority of people that come on board of clients have suffered a cyber hack or ransomware attack? Could you repeat the first portion of your question, please? Your voice broke down. Thank you. Right. The first part of the question was, when you onboard new clients, do you ask them the reason for buying a backup service? Sure. What we have been seeing in the market, and that has been a very serious driver of our growth, is that an increasing number of these managed service providers are no longer selling their core product, like an Office 365 or a Google Workspace, without security and backup. What they're doing is they are bundling solutions together and selling it to the end client. For example, in the U.S., they were selling it at about $100 per user per month, and that includes a plethora of IT services combined into one. Now, this has been made, quote unquote, easier for the service provider because, now, the end client is becoming only too familiar with the ransomware events and cybersecurity events that they are hearing about, and that's making the lives of the MSPs to sell it to the end clients easier, and so is our life as well. We're seeing more and more MSPs standardizing on backup offering, ri ght? It's no longer an option for many of the MSPs. The reason is really simple. When you look at some of the most recent cybersecurity events, let's take the one that happened in December 2020. This affected one of the best cybersecurity software companies in the world, FireEye. It affected the U.S. government. It affected also, of course, SolarWinds, where the whole thing started. The bottom line is, there is no amount of cybersecurity software that you can deploy that can fully protect you from data loss. Okay? You have to combine that with two critical components. One is user awareness and user training. Number two, you need to have a proper backup infrastructure, so you can take your data away from your production environment, encrypt it, save it somewhere completely delineated, and have it available for recovery whenever you need it. That really bodes well for us in the foreseeable future. Fantastic. We've got about three more questions left to get through, Charif. Two of those are on ARPU. First one on the ARPU, is that net revenue to Dropsuite or is that after any payment to partners? All our numbers are net to Dropsuite. The ARPU, this one is what flows into our revenue, our top line. One word on our product. I mentioned earlier that we are seeing the fastest-growing products are the highest revenue-producing products like Office 365 Backup. I think what's also equally pleasing is that, especially in North America, where you have a very high level of litigation, we are seeing tremendous adoption of the compliance module on top of the backup. Not only are our North American partners and clients adopting our Office 365 or Google Workspace Backup, but the mix of clients and partners taking the highest priced and highest featured product that includes compliance and archiving is extremely high and very pleasing, and we expect this to continue in the foreseeable future. Forward-looking, let's take a one-year view. We do expect our ARPU to continue to slowly climb beyond where it is today. Great. You actually answered that second question on ARPU. Okay. One other question here that's asking, how big is the Google Workspace market? When did this go live, and what sort of penetration would you expect into this market? Yeah, that's a great question. When we look at Google, it's interesting. Office 365 or Microsoft counts the number of users, and recently I think they said they have 307 million users. Google, on the other hand, does not count users, they count organizations. They claim that there are 6 million organizations using Google. We know that Google is stronger in the SMB space rather than enterprise, if you do some extrapolation and assume they have 50 million users, you're talking about they are less than 10% market share compared to Microsoft. Now, you ask, why are we launching it? Why aren't we launching something with a higher total addressable market? This goes to our strategy of wanting to be the one-stop shop for our partners. We want to deliver all backup and archiving for any email platform. Just take an example of a service provider who's got, let's say, 30 clients. Let's assume that they have 27 on Office 365 and three on Workspace or Google. The last thing we want is to invite the competition to come in so they can take care of the backup requirements for these three clients. What we do is we offer this one-stop solution across everything. Again, 50 million users is not a small amount. Keep that in mind. Now, the real impact of the launch really happened in June. We saw some uptick in June that came just when we launched the full solution. Historically, we've had only the email backup of Google Workspace. It used to be called G Suite. In June, we launched the full thing, and that has resonated really well. There was some pent-up demand that really showed up in June. We still have a long way to go in terms of getting more and more users to come from Google Workspace. Great. One that sort of follows on a little bit from that, so I'll just throw it in here, is why would someone need the backup for Office 365, given one version's in the cloud and the other one sits on your device? First of all, I think it's really important to remind everyone that Dropsuite is not inventing the backup business. I mean, the backup business has been around since the 1960s when information technology became a thing. Number one. Number two, if you read the terms of the conditions of any SaaS provider, including Google and Microsoft, and I encourage you to Google, for example, Microsoft terms of service. If you look at clause six, they clearly say, "We are not responsible for your data, and we recommend that you use a third-party backup to protect your data." Let's take an example where you have your data in the cloud and you think it's protected. Forget about the hardware, because the hardware can melt down anytime. You have a ransomware event, right? You're completely locked from this data, right? You can't access it until you pay the ransomware, and if you're lucky, you get your data back. That's number one. Number two, if you have a situation where you deleted your data from, let's say, your OneDrive, which is part of Office 365. Well, after 93 days, it's gone forever, and you cannot restore it, right? When you think about an organization and you think about data accumulation over five years, right? It's literally impossible to use your production data, let's say Office 365 data, as your data protection mechanism, right? You've got to be able to take what you have, separate it from your production, back it up, and make it restorable at any point of time. Great. Thank you. Conscious of time, this is the last question that we've had come in, Charif, and it's a good one to finish up on. Can you please talk a little bit more about your non-organic growth strategy? Will you be looking at complementary product services, et cetera? Yeah. Thank you for the question. I think it's a good way to end this webinar. Let me say that I'm happy to answer more questions if there are. What we're looking, first of all, is high conviction, right? High conviction means I don't want to be putting a short-term timeframe and put some extra irrational pressure on myself and the team to deliver inorganic acquisition in the shorter term. We are really focused on strategic high-conviction acquisitions in the coming few quarters. That's number one. Number two, we are looking what we call scope, complementary bolt-on acquisitions rather than scale, meaning that looking for companies who are doing more of the same, and then combining the user base together. Now, why are we doing that? We're doing that for a couple of reasons. One is integrating two identical services is a very risk-fraught thing to do, right? Rather than spending your time on building new capabilities and new products to get more users and more partners, you would be diverting, let's say, half of your team working on integrating two companies together, right? If you work on scope acquisition, for example, let's say a Salesforce backup, which we don't have, or some data governance solution, you're talking about very easy integration of these services via APIs, and you can quickly make it available to our customers and partners to use and to buy, right? That is something that's very important. The other thing is we continue to see what I'm calling, or what some people call SaaSification of the backbone of operations for a company. Companies are moving everything into SaaS, and as that continues to happen, more options and capabilities for data protection will become a must-have, and hence our interest in building new products or potentially looking at inorganic acquisitions as well. Fantastic. Thank you, Charif. That ends the questions. If there are any more that do pop up, please, both Charif and my email addresses and contact details are at the back end of the presentations and the releases. Get in touch with us and we can follow up. Charif, thank you very much for your time. I want to thank everyone for taking the time, for being an investor, for showing interest, and I always remain available for further follow-ups and chats. Thank you, everyone.