Welcome everyone to the Envirosuite Q4 sales update for financial year 23. Today, I'm joined with our CFO, Justin Owen. Good morning. Myself. We are gonna structure this up today with a couple of slides, just to tell the story through some graphs on the numbers. We will take question and answering at the end of the session. There's two ways that you can ask questions. One, to raise your hand via the Zoom link. The other one is to put it into writing, then we'll have those questions read out. I'm going to first start, though, with a bit of an explanation of who Envirosuite is for the new investors, just to remind people of the journey. We're very much a purpose-driven company. We believe environmental intelligence is the key to improving the well-being of people and the planet, also to drive prosperity. We focus on six key sectors: aviation, mining, industrial, waste, wastewater, and water treatment. We have three product suites within that. We have our Aviation group, our Industrial group, and our Water group. The common part that threads all of them through is that science is the core of everything that we build. We're taking environmental events, and we're turning that into data. We're turning that then into information, knowledge, and decisions. From NASA to BHP, we're an intrinsic part of an efficient modern-day operations, enabling data to decisions. We do benefit from strong demand driven through ESG principles all around the world, and we are a truly global operation, and we operate in three regions: the Americas, APAC, and EMEA. Today, we won't be getting too far into the financial details, as the full year results will be presented on August 22nd. This is going to be primarily focused around the sales update for Q4. From a key highlights perspective, we had a fantastic Q4, one that I'm incredibly proud of, a truly record quarter. AUD 6.8 million (Australian Dollar) in new sales, up 13% on PCP. Total ARR grew by 12% on PCP to AUD 59.4 million (Australian Dollar). Let's get into some of those deeper parts on the key highlights. The record sales of AUD 6.8 was made up of AUD 3.1 million (Australian Dollar) in new ARR and in project sales of AUD 3.7 million (Australian Dollar). The total ARR, which grew at 12% on PCP, actually grew this year at 20% growth at the company level, when excluding the one-off churn event that we spoke about in Q3. We're incredibly proud of the 20% growth on the top line through this year. EVS Aviation achieved a very strong AUD 1.2 million (Australian Dollar) in new ARR. There's an important customer win this quarter that we do want to highlight, which is this 10-year engagement with Egyptian Airports Company, with a total contract value of AUD 9.8 million (Australian Dollar). As we get further into what that contract is made up of, this is an incredibly exciting opportunity for us. We had the full sale of carbon emissions modeling now across 13 sites, as the aviation sector absolutely has been proactive in addressing the climate impact and the greenhouse gas emission issues that it has to deal with. We want to support our customers on that journey. EVS Industrial did have a record quarter. That was AUD 1.7 million (Australian Dollar) of new ARR, driven by particularly strong growth in the Americas once again, as the company's relationship with BHP continues to grow, and that's based on our land, expand, and scale strategy. Two new sites were added during the quarter with BHP. EVS Water, we announced this at the Wilsons Rapid Insights earlier in the year, we were successful in signing NEOM. For those of you who don't know what NEOM is, there's a link in the release. NEOM is an incredibly high-profile city in Saudi Arabia, with a $500 billion investment going through. The engagement is though for two of its existing desalination plants. This is going to be a long-term partner for us as NEOM starts to grow through. There's an annualized churn of 8.1%, which included that one-off event. If you exclude that, our churn is down at 1.9% for Q4. We've spent time on aviation. Let's get into a little bit more detail on this. Total ARR is now at AUD 36.4 million (Australian Dollar), which is up 7% on PCP. Adding that AUD 1.2 million you can see on the left-hand side of the table. That, there is 19% growth excluding that one-off event. If you look at the history of the Aviation segment within Envirosuite over the last three years. This is an incredibly strong year. What is encouraging is we're getting growth in all three regions. Certainly, we've had strong in the H2 of this year, we've seen strong growth in EMEA, which is Europe, the Middle East, and Africa, but we've also had strong contribution from the Americas and also from APAC. In this particular quarter, we added sites in Americas, which is Ontario, Portland, and Naples. Here in the APAC region, we added Christchurch. We also, in the Middle East, we added Abu Dhabi, so two airports there. I want to spend a little bit of time, though, on the flagship win, which is EAC, Egyptian Airports Company. I was actually in Cairo with the customers in June, and it was fantastic to see the way that Egypt is addressing and being proactive in addressing environmental impacts. COP27 was held in Egypt. COP28 is moving to Dubai. As part of the COP27 initiatives, they are being proactive in the way that they want to drive improvements at all levels. This is the first time that we have added noise, dust, carbon emissions modeling, and Omnis solution into one new airport site. That's addressing air quality, noise, and carbon. They are seen now, certainly as the leaders in this region, and arguably the world, as to what they're trying to do in addressing their impact and understanding how this addresses the community and their operations. We're excited to work with EAC. The other part of this, which is important, is it represents a 10-year engagement. One of the strong parts of our Aviation business model is our long-term contracts that we have with customers, and we see this as a true partnership. On the left-hand side, you'll see that new ARR. It's not a linear part. This is going to be based on, you know, like sometimes having large project wins, which you will see. What is encouraging is our aviation total ARR now is up at AUD 36.4. A really strong finish to the year. Moving to Industrial. A strong quarter for total sales, AUD 2.1 million (Australian Dollar). New ARR of AUD 1.7, which I said earlier, which represents growth of 19% on PCP. There's really strong continued growth in the mining sector. What we've seen in FY 2023 is continued growth in the Industrial part within mining, and this is based on a certain need from the customer, but a really strong value proposition. As we have highlighted earlier and throughout the year, adding noise and vibration into the Omnis platform has significantly expanded our reach and the benefit that we provide to our customers. Certainly, with BHP now, we're well positioned to support them for a long period of time. If you think about the mining sector similarly to airports, mines operate for 40, 50, 60 years. We see this as a very strong business model, but a very sticky business model as well. The Americas contributed 52% of new ARR. What we are seeing is that it's not just mining within the Americas. Environmental justice is certainly driving awareness and driving investment from our customers. We also were able to add a significant customer in the waste sector. We will see that in the FY 2024 growth, that waste will continue to play a key part in our growth. What I'm particularly excited about, though, is the emerging blueprint for cross-selling EVS Industrial into a EVS Aviation, as air quality becomes a stronger need to address in the marketplace. Whilst we can't name the mine site with BHP, it is a large copper facility, copper mine in Chile. This is helping them address their environmental risks and identifying when those risks develop and when those risks are expected. This comes back to the strength of our platform, being strong in a predictive capability. We're able to work with them in a proactive sense. The platform is helping them think ahead of time, and this is driving a strong operational improvement. Again, another key part of our strategy that we set two years ago is land, expand and scale. We've spent time with our customers. We understand what the product can do. It's also fed then into new product ideation and making sure that we have a truly scalable, repeatable, and efficient platform to help our customers. Moving into water. As we said, we added AUD 0.2 million (Australian Dollar) for Plant Optimiser and Plant Designer. This is looking at desalination plants, where we are looking to reduce the energy required to produce drinking water, as well as the chemicals that go into the process. This provides a strong ROI. If you now look at the footprint of our desalination plants, we're strong in Hong Kong, in Singapore, and now in the Middle East. What we have seen on the back of this announcement with NEOM, is a strong interest across the board. Our Global Lead for Water, Sada, joined around five, six months ago, and Sada has been working proactively with key customers around the world, both at an asset level with the likes of NEOM, as well as in the Industrial partnership opportunities. Through the coming quarters, we'll start to see some benefits of the investment that we've made with Sada in that space. The other part, though, to think about is what we have already done with our customers, with Water Corp. We continue to work with Water Corp, SA Water, SIAAP, DAM, Kalamazoo, and Evoqua, to work through how SeweX plays a pivotal role in them addressing their operations and their risk moving forward. SeweX has seen significant advancement at a technology level this year, and we're proud in how we've been able to validate the technology and help our customers achieve their goals. I would encourage all listeners today to go onto the link on the bottom of page five, to have a look at NEOM and what NEOM is wanting to do. By us positioning on the first two desalination plants and building that out, we are very well positioned to support the significant investment that NEOM will have over the coming years. Importantly, we don't have to wait for these desalination plants to be built, they're operational today. Finishing up here on project sales. You'll see that graph is a very nice graph, where it goes up for the last three quarters, finishing with a very strong AUD 3.7. That is helped somewhat by the large aviation project wins that we had in Q4. You will also see that this is not necessarily a linear path, so this will be lumpy as we move forward. What we have now seen over the last two to three years, is that project sales are stronger in the H2 of the year. At the moment, we don't anticipate that changing, but just to give you that insight. The other part here of project sales is that it does drive an expansion opportunity. Project sales we see, and, you know, been the case over the last few years, is how that supports the ARR business model. The other part of project sales, why it's important for our business, and I'll pass to Justin in a minute to cover off some of the financial observations of the quarter, is that it does lead then into cash and profit in a relatively short space of time. I'll finish with the outlook. Look, we do reaffirm our position about transitioning to adjusted EBITDA, but we're not going to spend a lot of time on this today, because the results will come out in around a month's time. We did end the year with another record sales for them, and we're really proud of how we finished the year on Q4. We also entered our FY 2024 with really strong momentum. Each quarter, we're seeing a stronger lead generation through our marketing platforms, and we have got a strong pipeline within our current key accounts, so through our land, expand and scale. We're very targeted in those six sectors that we spoke about at the start of the presentation, about how we want to drive growth. We do see strong upward momentum. Also, the other part of that is being a product-led organization, we have strong product portfolios, and we have invested into that technology leadership. A lot of those wins that we had this year, we were actually in competitive situations, which is great to do. We also were able to be successful in just engaging with the customer directly to help them and take them on a journey. They trust us, and we want to be there as a long-term partner. Our three regions now have a mature sales operations and leadership team, and we'll continue to see growth in all three sectors. Justin, I'll pass to you now just to close off on the finances. Thanks, Jason, good morning. As Jason mentioned earlier, we will be providing further visibility on our results and outlook when we release FY 2023 later in the year. Again, confirming the transition to adjusted EBITDA profitability, and what we will see is a significant improvement over our FY 2022 comparative, being a loss of AUD 4 million (Australian Dollar). In terms of the year, we finished with cash above AUD 8 million (Australian Dollar), which is in line with expectations, pleased on that piece. In terms of churn, we mentioned our churn number of 8.1%, including the significant event, and 1.9% on an excluded basis. When we dig a little bit deeper into our reasoning for churn. Couple of the key points that come out on a relatively small population, I should say. Firstly, budget constraints in some of our customers, where there was no alternative provider sought, so it provides an opportunity for us down the track. In another, there was a completion of initial phase of a contract, with a potential for future, but nothing signed up at this point. A last one was a change in management and their priorities. No, in none of the churn events that we identified or we have reported, are there any transition to another provider. We're very comfortable in those ones, as well as providing an opportunity for us down the track. As Jason said, moving to project sales, they are a combination of implementation and instrumentation for some of the major projects in the period. Certainly, Egypt there is a significant one for us, as is Abu Dhabi, where again, the project sales and ultimately shorter-term revenue opportunity will lead to the longer-term recurring revenue growth. Of course, there are, on the project sales, some instrumentation replacement and expansion programs that are operating within our existing customer base that won't have a direct impact on ARR going forward. Lastly, just want to finish off in our implementation activities. They remain well managed with a very deep understanding of occurrences within the supply chain. We mentioned at the half year that our supply chain has recovered from the pre-pandemic, and we're able to manage those customer, sorry, those supplier relationships very positively. More importantly, we have a very strong team leading our implementation process, and we're confident that implementations will, or implementation timeframes will continue to improve as we move forward. That's the highlight, if you like, from the finance piece. Clearly, there'll be more that we will cover in our in our next update. What I would like to do is I'll hand to Jason myself back to the presentation team and open up for questions. Thanks, Justin and Jason. Just a reminder, if you have a question, you can type it into the Q&A panel, or raise your hand, and I will unmute you and allow you to talk. Chris Savage from Bell Potter, you should be unmuted now and go ahead with your question. Thanks. Do you hear me okay? We can. Yes, sir. Great. Good day, Jason. Good day, Justin. Just firstly, was Q4 on budget, or was it ahead of budget in terms of new ARR and total ARR? We think it was slightly ahead of budget. Certainly a strong quarter there, with some significant wins being, you know, the, in the Aviation and the Industrial. Some of those, though, were slightly delayed through the year, just through the procurement part. You know, if you look at it from a full year, you know, slightly ahead of budget. Was there anything that slipped, potentially into Q1? Not in this quarter. No, we closed everything that we did want to close in this quarter. Just the pipeline for 2024, across the three sectors, if you can? Yeah, what we have seen, let's start with the smallest one in water. Obviously, with the, with the validation that we've now got with our customers in the three regions, you know, and also the three product sets, we have seen a strong pipeline build up over time. I understand from some shareholders that they want to see the water go much faster, but I think we have to be realistic with understanding that this is a water utility that we're dealing with, you know, and it is important to understand that this is drinking water, and so we want to be making sure that we're working with our customers, not pushing that through. Chris, very excited about the water pipeline opportunity, and that's with, you know, a mixture of different customer segments. Industrial, I was reviewing the pipeline as we always do, really strong in mining, and in waste, and in industrial. We know that we've got a strong value prop there that we will continue to build through. What we have also seen is, you know, through the last three to 18 months, is the transition into, say, a new improved sales team, they're functioning at a higher level there. Certainly our sales efficiency within the Industrial part has improved. Aviation, look, you know, on the back of carbon emissions coming in with what we're doing with the ANSP in North America, we are seeing certainly a shift into the greenhouse gas impacts. The pipeline and the value prop is certainly evolving in aviation. As the market leader, we're really well positioned to pick up strong market share as we move forward. Just back on water, Jason, what's going on with Water Corp? That seems to have stalled a bit. Is that a fair comment? No, the opposite of that. I think it's a great outcome of how we're working with Water Corp, and proving that I've spent multiple sessions with them myself in Perth, and the water team. Really strong validation that they are really pushing SeweX to what it can do and bringing it into their organization. No, we're very happy with how Water Corp are using the software product and how they're applying it into their business. We're happy, Chris. All right. Thank you very much. Thanks, Chris. We might just go to a written question before we hand over to the next person that's gonna ask it live. It's about project sales. Jason, could you just provide a bit of color around project sales, how it's charged to the clients, and then whether it's on a cost-plus basis? Yeah, absolutely. The project sales has a strong contribution margin and a, you know, strong gross margin contribution to the business. Yes. There's a combination where we have in-instrumentation sales, so it could be instrumentation sales in both the Aviation sector and also in Industrials. Industrial is a slightly, obviously a slightly different product and one that we are open to third-party suppliers and agreements that we've got in place there, as opposed to the aviation, which is essentially our design and contract manufactured product. There's also an element of people cost on project sales with the or project revenue when it comes to people costs associated with implementation. There's a mix across that, but we're seeing right at the moment with the strength around Abu Dhabi, Egypt Air on the Aviation side, we're seeing that combined instrumentation sales as the lead indicator to the future ARR. As mentioned earlier, there are a couple of one-off projects where we are replacing the Noise Monitoring Terminals in a couple of instances, and also expanding within an existing environment with additional monitors. That's across the Industrial space. Thanks, Justin. We'll go to Ross Barrows now. Ross, if you would like to unmute yourself and pose your question. That's great. Can you hear me okay? Yes, all good. There you go. Just, just a question around the ARR growth over the year. It was around AUD 6 million (Australian Dollar) of absolute ARR that was added, that AUD 6.5 million (Australian Dollar) this year. If we look back a year before that, it was also around that AUD 6.5 million (Australian Dollar) level. Is it fair to say that you'd be hoping to, you know, get incrementally higher ARR growth in AUD terms going forward? Do you think that, you know, it could be similar year on year? I'm assuming it's gonna start to accelerate with the pipeline you've got, but maybe some color around that would be helpful. Yeah, Ross, if you look at that, the actual ARR growth is higher than AUD 6 as far as the results, right? We've done AUD 2.1, AUD 2, AUD 2, and AUD 3.1 in the four quarters leading up to this. That's, you know, around AUD 9.2 of ARR growth. What dragged that down was a, you know, let's call it a single event churn in Q3. I think that's a really strong part. What we are seeing is certainly, you know, a stronger lead into FY 2024. Yeah, certainly much higher than AUD 6 moving forward. Justin? Yeah, Ross, the thing to point out when you're looking at the comparison is at FY 2024, when we were at AUD 53 million (Australian Dollar), that included that major churn event. We're calling it out because it is so significant in its impact on the financial result and doesn't truly reflect the effort and the success that the company's enjoyed in growing ARR over the 12-month period. Clearly, all the other churn events are in there, but, you know, again, the severity and the significance of it's worth doing it on a, you know, a normalized position in terms of what the sales team's been able to achieve. Yeah, that's right. Allowing for the churn, that does make sense. The other question I had was just around the project sales where, you know, it is a leading indicator, over time, and hopefully, that's gonna continue going forward. The question I had was, is there any kind of rule of thumb, and it's a really difficult one to answer, but, you know, is there a million dollar of project sales turns into, you know, X million of ARR, or is there any way you can think about it? Obviously, every project's unique and different, so maybe there's no way I'll answer it, but, any color you can around that? There is, and Ross, and it sort of depends on Aviation, you know, and Industrial, but unfortunately, there is no rule of thumb, but we see it as more a part of the business model being able to turn the project sales to revenue and to profit in a relatively short space of time and, you know, a long-term sticking business model. Yeah, thanks. Thanks, Ross. We'll go back to the Q&A board. There's been a couple of questions, Jason, about the competitive landscape, saying you mentioned competitive wins. Who are the competitors? A question from John McBain about, also the competitors and, were there any competitive losses during the quarter? Who are the competitors? The competitors in this focus on water, there isn't a competitive product to SeweX. It is unique in the world, and so we call that in the demand generation space. In Optimizer, there are competitors, but no one that does deterministic modelling and artificial intelligence in the same platform. That is unique, and we use that as a competitive advantage. Industrial, you know, I would argue, we're three or four years ahead of any single competitor in its predictive capability. What we see in that part is more of the competition against sensors. Instrumentation is going into a simple cloud platform. If anyone wants to drive operational improvement, we really are, you know, three or four years ahead in that part. Aviation is slightly different, use the standard new solution. There are competitors, both in North America and in Europe. Having said that, you know, we have been highly successful through that quarter. I can't think off the top of my head of any competitive losses in Q4. Yeah, I, I can't comment on that. Okay, a couple of questions. Just on, I know we made a comment about, yeah, profitability, but could you talk to closing cash and cash burn during the quarter? Also, does that figure of the closing cash include the Egyptian one-off upfront payments? Okay. Thank you for the question. Of course, when it comes to profitability and financial, more deeper financial metrics, we'll provide an update. We'll provide insight on these when we get to our full year results. In terms of the cash, when we advise that it's probably closed at over AUD 8 million (Australian Dollar) in the quarter, which was in line with expectations. In relation to Egypt, that is, that it's announced today as a sale, not yet as revenue. We anticipate, having mobilized the team, we anticipate that the project revenue, so the instrumentation sales and implementation, will be hitting revenue and ultimately cash during the latter part of H1. Those, maybe implementation timeframes are yet to be locked into play, but certainly the team are mobilizing for that rollout. In terms of profitability, in terms of cash and cash burn, you know, it's something that we focus on quite significantly in the executive team. And certainly at the operating cash flow level, we're starting to see some good turnaround in those numbers. What we have got is an increasing position that our customers are wanting to take, certainly in the Industrial space, where they're wanting to transition from an upfront acquisition of instrumentation to one where the instrumentation is packaged up and rolled up with the software access piece They're wanting to convert what we term a CapEx sale into OpEx. We are seeing an increasing pressure, if you like, on or from the sales organization on what and how they want it to deliver to their customers in the Industrial space, and we want to accommodate that. We are investigating options on how we best fund that going into the future. Thanks, Jason. Just mindful of time. I think we'll take one more spoken question. We'll go to Andrew Page. Andrew, if you can unmute yourself and pose your question. Yeah, thanks for that. Obviously, a lot of talk of inflation lately. I'm curious as to what pressures you've felt directly with your costs, whether that be sort of staff or instrumentation, but also perhaps more interestingly, what ability you have to pass on costs? There's fairly low churn, you're pretty tightly embedded into customer workflows. Is that a lever that you have pulled or can pull, and to what extent that might be achieved? Yeah, thanks, Andrew. Good question. Look, you know, it being a software company, our biggest costs are going to be people and the cloud infrastructure to support it. We do manage that tightly. We haven't grown anywhere near the space, you know, from a headcount perspective that other technology companies have done over the last two years. We've really controlled our headcount number, and thereby controlling cost of the business, as we move through that cash flow positive target that we have. From supply chain instrumentation, we do manage that incredibly tightly through good, strong partnerships in the Industrial sector and also our own supply chain within the Aviation part. That is an area that we do focus on, and the realization of cash is strong. yeah, we're happy to date with how we have been able to manage that. Going back to, you know, the ability to flex that with the customer, where we can be doing, within the contract construct, you know, in large parts of the Aviation, and in Industrial part, we do have CPI as a trigger point in that contract. We do, within contract terms, obviously, and, you know, we want to look after our customers and understand their journey, but we do have that ability to do that. Thank you. Thanks very much, Andrew. Jason, I might just, I'll quickly say, we're always very happy to take questions. Please submit any questions at any time to investors@envirosuite.com, and we'll come back to you. John has posed a very specific client question, which I'm not sure we are at liberty to talk publicly about. John, I'll investigate that and look to come back to you with an answer there. Jason, perhaps just some concluding comments from yourself. Really happy with the quarter, but more importantly, happy with the year. First of all, to our staff around the world, to the Envirosuite staff, you know, a fantastic year. I know people have worked incredibly hard to get the results and to really focus in on our customers. First of all, thank you to Envirosuite. For our customers, you know, the partnerships that we've built and the trust that we've built, we'll continue to invest into that and to make sure that we are seen as a leading environmental intelligence technology company in the world, which we are. And certainly the outlook for FY 2024, I think, is exceptionally strong for us. We're well positioned, from both from, you know, the technology and the product perspective, from the go-to-market motion that we have in each of the products. We really are well positioned for a strong FY 2024. To the new shareholders that have come on, thank you. Thank you for supporting and also to the existing shareholders who have supported us for a long time. You know, I think the transformation that we have made in the company, that you would have seen over many years now, you know, I think we continue to improve each part. I think Q4 caps, you know, caps off a great FY 2023, but importantly positions us for a really strong FY 2024. Yeah, thank you to everyone for joining today. Goodbye.