Good morning, everyone. Joining us today from Nitro Software is Sam Chandler, CEO, and Ana Sirbu, CFO, to discuss the FY 2021 results release. I will now pass over to Sam and Ana, then we will finish the call today with Q&A. Thank you, guys, and good morning, everyone, and welcome to our FY 2021 results briefing. 2021 was our second year as an ASX company for our IPO in December 2019. It was a truly transformative year. It was another year of high growth in which we reached some really important scaling milestones, such as surpassing $50 million in revenue and over one million active subscription licenses. We also significantly expanded our product offering and addressable market with two game-changing acquisitions. We're looking forward to walking you through those and some other updates today in addition to providing more detail on our plans for 2022. I'm Sam Chandler, Co-Founder and CEO here at Nitro, and with me today is Ana Sirbu, our CFO. I'll be taking you through our business and performance highlights, and then I'll turn it over to Ana to run through our financial results. Then it's back to me for an update on our business strategy and the outlook for the year rather. After that, we'll go to questions. Just a reminder that all the figures we're presenting today are in U.S. dollars. Before we get into the results, I want to do a quick intro to Nitro for those of you who are less familiar with the business. We are a document productivity software company. We were founded in Melbourne in 2005. We're headquartered today in San Francisco, and we serve over 13,000 business customers in 157 countries. While we're best known for PDF productivity, and we started out selling to small businesses, today we're delivering measurable digital transformation, including e-signing, at some of the largest companies in the world. We have deployments in over two-thirds of the Fortune 500. More importantly, as of the end of 2021, we're able to count just over 14% of the Fortune 500 as scaled customers. That's actually up significantly from just 10% in June. Companies like Caterpillar, GE, American Express, Deutsche Bank, Chubb, BP, Procter & Gamble, the European Parliament, and dozens of government agencies around the world all rely on Nitro every day to digitize and accelerate their document workflows and to be more productive. In the Fortune 10 alone, we have over 45,000 licensed users across, you know, three of the biggest brands in corporate America. Connective, the e-signing company we acquired in December, is used by eight of the 10 largest Belgian banks, over 60 Belgian government departments, and global customers like BMW or Maserati. These are really strong foundations upon which to build a really substantial enterprise software company. If you look at Nitro today, you know, we really are a reflection of our past, our present, and our future. We've evolved from selling perpetual licenses or one-time licenses to SMBs, you know, to a recurring revenue business today, where a majority of our sales come from larger customers. Since beginning our subscription and enterprise focus in 2016, we've built a high growth, you know, high quality SaaS business with compound annual growth rates, or CAGRs, in both subscription licenses and revenue, of around 100%, you know, per year. And as that annual recurring revenue, you know, has scaled from zero, you know, in 2015 to over $46 million this year, our market opportunity and product strategy scaled with it. With the recent acquisition of Connective, we became a global leader in enterprise e-signing, you know, immediately, and took a significant leap forward in our journey to becoming an end-to-end document life cycle platform. We continue to invest in R&D and product innovation, and we're scaling our go-to-market organization in parallel with that. The acquisitions of Connective and PDFpen last year really did dramatically accelerate our product roadmap and significantly expanded our addressable market. Since the IPO in late 2019, we've assembled a really incredible leadership team that drove us to, you know, $50 million or more than in revenue last year. It'll soon take us to, you know, $100 million in revenue and well beyond. Given that global spending on PDF productivity and e-signing solutions in 2021 was in the range of $4 billion-$5 billion against a total addressable market of close to $30 billion, there's an awful lot of runway here for revenue growth and scale. Combined with the multi-year digital work tailwinds that have emerged as a result of the COVID-19 pandemic, it's really an exciting time to be building an enterprise software company, you know, in this space. Moving on now to slide six. I wanna quickly refresh everyone on our product platform and its capabilities, particularly after the acquisitions of Connective and PDFpen. Because since our beginnings as a desktop productivity software company, we've expanded our offering, you know, really significantly to become a multi-product platform. That encompasses everything from e-signing and workflow automation to industry-leading intelligence and analytics. With the acquisition of PDFpen in the first half of last year, we added native Mac and iOS capabilities that basically now enables us to serve, you know, virtually every PDF productivity use case in the enterprise. With Connective, we added not only enterprise and high-trust e-signing capabilities, but the most comprehensive electronic identity offering of any e-sign vendor. We also added a powerful set of APIs and document generation and automation capabilities. This platform, all the features you see here on this slide, this platform and all these features are supported by what is really undoubtedly the best customer success team in the market today. We are supporting deployments of up to tens of thousands of end users at the largest organizations in the world. As I said at the beginning, 2021 was a year of milestones. These are just a few of the highlights. You know, we surpassed, as I said, $50 million in revenue. In fact, we achieved nearly $51 million in revenue. We surpassed $40 million of ARR. In fact, we did just over $46 million of ARR, including Connective. We set new records for customer wins. We had our largest new customer and expansion deals ever, and we scaled to over 300 Nitronauts in 14 countries now. That includes some new office and hub locations in Toronto, Antwerp, Barcelona, and Paris. Our product engineering teams grew significantly, you know, with that, as did our go-to-market teams and therefore, our ability to serve customers, you know, all over the world. If you look at our key financial highlights, you'll see continued high growth rates, you know, at ever-increasing levels of scale. You know, I mentioned before that in 2015, we didn't have any recurring revenue or ARR. In 2021, ARR was up 62% year-over-year, you know, to $46.2 million. Revenue finished at $50.9 million. Again, these are all U.S. dollars, with subscription revenue up 59% year-over-year. Because of that strong revenue execution, as well as strong execution on costs, our operating EBITDA loss of $7.6 million was in line with our upgraded guidance that we provided actually earlier this year. Of course, following our AUD 140 million capital raising in Q4, which was primarily to fund the acquisition of Connective, we finished the year with over $48 million in cash and a strong position for continued high growth. Moving now onto slide nine, I wanna give you a sense for the scale in the business today and some of the growth rates we're seeing through the lens of product usage. This becomes particularly important as you see Nitro evolving to more of a transaction-based pricing and revenue model with the addition of Connective and our shift into the e-signing business. In Nitro PDF Pro, which is the product for which we are best known, users opened over three billion documents in 2021. The total activity by Nitro PDF Pro users increased by about 70% as remote and digital work continued to drive more electronic document productivity. In Nitro Sign, this is where the numbers are really pretty incredible. Before the Connective acquisition, we had seen an over 100% increase in Nitro Sign business users and Nitro Sign signature requests. You know, going from one million requests or thereabouts in 2020 to over two million in 2021. When you add Connective's more than 20 million e-signatures in 2021, we actually finished last year with over 22 million e-signature transactions in total. You know, more than 20 times our total volume just a year ago. Speaking of those e-signing volumes and the incredible market opportunity that's in front of us, you can see on this slide that not only is the e-signing total addressable market very large at around $17 billion, but the acquisition of Connective now allows us to really serve all of it. Just to note that this is a ground up, you know, total addressable market model based on e-sign contract values that we're achieving today or Connective's achieving today, and it's extrapolated across the total potential customer universe. We estimate that the total market for sort of e-signing at $17 billion can be divided up into essentially one-third for simple e-signing and two-thirds for enterprise e-signing. Prior to the Connective acquisition, we had simple e-signing capabilities, and a relatively simple integration set with no public-facing API. With Connective now, we have full enterprise and high trust e-signature capabilities, including AES and QES or advanced and qualified e-signatures. We have, as I mentioned before, the most comprehensive eID integration portfolio of any e-sign vendor in the market. We have a truly expansive set of integrations now and a really powerful API. We've also brought aboard an amazing team of over 60 Connectivians who are experts in the high-trust transaction and enterprise workflow space, and over 1,000 Connective business customers came with them, you know, including big brands like BNP Paribas, ING, American Express, Pirelli, you know, the Belgian and French governments and many more. The Connective acquisition, it's really been transformative to Nitro. I mean, it does launch us immediately into the global enterprise e-signing opportunity. We believe now that we have the strongest enterprise e-sign offering in Europe, and we can go head to head with competing solutions in virtually all global markets. Not only are these e-sign markets very large, the growth rates are very high. I mentioned earlier that, you know, we're perhaps only, you know, 10%-20% penetrated in e-signing based on the current annual spending relative to the TAM. That is one reason that e-signing spending globally is expected to grow at nearly 30% per annum for the next 10 years. In fact, growth rates in key European markets will be even higher. Again, I said before, we have the strongest offering, we believe, in the European market today. We expect that high-trust signing, which Connective, you know, is an expert in, and frankly has the best offering in market, will become the new standard everywhere. This is signing the identities to enhance security. This kind of signing is already the standard and a legislative requirement in Europe for most business transactions. We believe it will become the standard everywhere. Connective and now Nitro leads the way in this kind of high-trust signing, and we are perfectly positioned to ride the wave rather of secure workflows over the next several years. In terms of the integration of Connective into Nitro, we have three key phases. In the first phase, which has already commenced, we're not only continuing to grow the core Connective business, but we begin cross-selling enterprise e-signing to Nitro customers immediately, in addition to cross-selling you know Nitro to Connective customers. Connective becomes Nitro's enterprise e-signing solution immediately, while Nitro Sign remains our simple e-signing solution for now. Connective's signature-based, you know, or transaction-based pricing model replaces our price per user plans in the enterprise, while our Nitro Sign Essentials plan remains a great way for customers to get started in e-signing. In the second phase, we'll start to bring the Nitro and Connective products together. That's within sort of 6-12 months. The standardization of user experiences and the data platforms, and the application services will all begin. Towards the end of phase two, so sort of towards the end of this year, as we enter phase three, Connective's offering will be rebranded as Nitro Sign. It will adopt the Nitro Sign user experience and visual identity, and will become known globally as the leading high-trust enterprise e-signing solution. We expect most of the changes that are visible to customers, in terms of branding and pricing and packaging and user experience to be complete, this year. We really couldn't be happier with this acquisition, in terms of the quality of the team, the quality of the products that we've acquired, and the success actually of the integration so far. We're incredibly excited about this acquisition and the opportunities and the growth ahead. Just to look back now quickly on 2021, for a moment. We're really proud of the customer wins that we achieved and the success that we're having, in some of the largest companies in the world. I mentioned earlier that we set new records for our largest ever deals for both new and existing customers, and we welcome some very big new customer names right across Europe, you know, North America and Australia, and you know, names like Deutsche Bank, Procter & Gamble, Westpac here in Australia, MetLife. These are, you know, large customers deploying Nitro to tens of thousands of end users at a time. In terms of renewing and expanding customers, we also saw some wonderful wins around the world and across virtually all industries. You know, financial services, healthcare and biotech, transport and logistics, telecommunications and many, many more. We saw global household names like GE and Chubb continuing to grow their Nitro footprints on the back of very successful, very scaled deployments. We can't really wait to see what we do this year and beyond with the added power of enterprise e-signing. That really is transformational for us. Of course, to all of our customers, we say a very big thank you. You know, we're really thrilled to get to support you on your digital transformation journey. Before we go to the financials with Ana, I wanna highlight two customer case studies that I think illustrate both our PDF productivity and e-signing successes and the associated market opportunities, particularly following the acquisition of Connective. I also wanna walk you through what makes us different and why these and 13,000 other customers have chosen Nitro or Connective as their document productivity and workflow solution. This first case study you can see here now, it's a Fortune 500 company in the heavily regulated pharmaceutical industry. They first became a customer in 2018. After several years of success with Nitro at a scale of over 15,000 users or employees, this customer completed a large acquisition that more than doubled their revenue and more than doubled their employee headcount. Even though the acquired company was a heavy user, very heavy user of a competing PDF product, you can probably guess which one, Nitro was tested extensively by the new organization and won out as the preferred PDF productivity solution. As a result, we became the new global standard at the acquired and the combined company, and we immediately added 5,000 more users last year. We're expecting growth actually to nearly 30,000 users total over the next one-two years. Additionally, because we now offer high-trust signing as a result of our Connective acquisition, we also expect to begin providing e-signing capabilities to this customer, you know, during 2022 with the associated kind of account uplift in value. In the pharmaceutical market and related industries, you know, with FDA and other forms of really strict regulatory oversight, highly secure signing, you know, using electronic identities, is a must-have. Now that we have a best-in-class high-trust signing offering, combined with tens of thousands of employees already using Nitro every day, we're in a strong position to cross-sell the new enterprise Nitro Sign, powered, of course, by Connective. This next case study actually focuses on Connective specifically, and really shows the power of Connective e-signing to not just digitize and dramatically accelerate workflows, but also to substantially reduce back-office costs and even reduce fraud risk. This case study is a large bank, in fact, one of the top four banks in the EU, and a top 20 bank globally. They were previously handling online service requests using a labor-intensive kind of manual, you know, risk assessment. The bank was actually able to use Connective's advanced electronic identity and smart documents capabilities to implement an online end-to-end document life cycle with KYC or know your customer identity verification integrated directly into the document flow. This bank is now processing documents instantly using that online KYC powered by Connective. It's a significantly better user experience for customers. They can use any one of many different eID services in Europe. Incredibly, for this bank, the document approval cycle time was reduced from an average of five days to real time. Now only 1 in 10 contracts are actually being reviewed manually. That's saving about 90% on the associated back-office costs. You know, all of that plus additionally, actually the risk of fraud, you know, as well as the costs associated with contract disputes, you know, has been greatly reduced. It's a really, you know, game-changing deployment. I think this case study gives you a good sense as to why we're so excited about the high trust e-signing market opportunity and why we're so excited about the Connective acquisition. We can deliver these kinds of amazing business outcomes like 90% reductions in approval times and labor costs while achieving higher levels of security and fraud protection. You know, we can deliver these sorts of results to customers around the world. We really can't wait to see where we can take Connective or Nitro Sign Enterprise, as it will be known, in 2022 and beyond. Why do these unique customers and 30 other business customers choose Nitro? Look, our primary points of difference and our value proposition to our customers is really best thought of in three distinct areas. First of all, the software we build, you know, that enables digital transformation to happen. Second of all, the analytics tools that we provide to measure and prove the digital transformation story. And thirdly, the unrivaled, you know, service experience that we wrap it in. When you boil it down, these are the reasons that customers ranging from, you know, small accounting practices, you know, to GE or the European Parliament, you know, choose Nitro. When it comes to our PDF productivity and e-signing solutions, we support virtually any end user, any device or workflow as a single vendor. We are almost certainly in every case, a better solution for all stakeholders. You know, whether you are the end user, the IT executive or the project leader in the line of business. Now actually with Connective, we're firmly establishing Nitro as a global leader in high-trust document workflows broadly. Our Nitro Analytics product, which allows our customers to measure and prove their digital transformation story and really tell that story, remains completely unique in market. Nobody is doing, you know, anything like what we do with our analytics today. The service experience, you know, that I referenced earlier today that we deliver to all our customers, I firmly believe it's the best in the world. From sales to support and our incredible customer success organization that's handling deployments for, you know, up to tens of thousands of users of the largest companies on the planet. We have competitive beating customer satisfaction and net promoter scores for a reason. We're really proud of the powerful product and service offering that we're providing, you know, to our customers today, but even more excited about what we can do, you know, in 2022 and beyond. With that, I will pass you over to Ana to take us through our 2021 financial results in more detail. Thank you, Sam, and good morning, everyone. I'm excited to share with you our 2021 financial results for the year ended 31 December 2021, which, as Sam highlighted, was just such a dynamic and transformative year for our business. Please note again that all our reporting is in U.S. dollars. To start, I'll provide an overview of our 2021 performance relative to 2020. 2021 was a year of strong growth. Annual recurring revenue or ARR, excluding Connective at the end of the year was $40.1 million, which represents an increase of 41% compared to the end of year 2020 and in line with guidance. ARR at the end of 2021, including Connective, was $46.2 million representing a 62% increase year over year. Nitro completed 2021 with total revenue of $50.7 million excluding Connective, up 26% versus 2020 and at the top end of the upgraded guidance range, which we provided in October 2021, which was $49-$51 million. Our revenue growth accelerated meaningfully to 26% year-on-year, double last year's year-on-year growth rate of 13%. 2021 revenue, including Connective, was $50.9 million. Subscription revenue increased by 59% year-on-year, driven by the success of Nitro's subscription product via new customer acquisition as well as expansion of existing customers. At the same time, perpetual revenue reduced by 10% year-over-year, given our deliberate and successful shift to subscription business model. Commensurate with the increase in subscription sales, Nitro was able to further improve our already best-in-class gross margins to 92%, from 91% in 2020 because our subscription business has a slightly lower cost of sales. From an operating perspective, 2021 was a year of scaling of Nitro's go-to-market engine to drive future revenue growth, as well as a year of expansion of Nitro's research and development initiatives to deliver further enhancements to the Nitro Productivity Platform. 2021 sales and marketing expense amounted to $29.4 million, representing 58% of revenue or a 45% increase from 2020. An important initiative in 2021 was the implementation of specialized hunter and farmer roles by customer segment and by region, and the scaling of our customer success and channel partner teams. We're expanding our go-to-market engine to drive ARR and subscription revenue scale and are continuing to be focused on strong unit economics. 2021 research and development expense totaled $13.5 million, representing 27% of revenue or a 44% increase from 2020, reflecting Nitro's commitment to innovation and the evolution of our productivity platform. Almost all of this increase is in new headcount focused on product innovation in all product areas, including Nitro PDF Pro, Nitro Sign, and our exciting Nitro Analytics roadmap. Finally, 2021 general and administrative expense was $11.6 million or a 25% increase from 2020, and steady at 23% of revenue relative to the prior year. As you know, Nitro pursues economies of scale in supporting functions. Fiscal year 2021 operating EBITDA loss, excluding Connective, was $7.4 million, and including Connective, it was $7.6 million, in line with the upgraded guidance range which we provided in January of 2022. We want to share a brief reminder that over the years from 2018 to 2020, Nitro has proven that it can operate close to operating EBITDA breakeven while growing its subscription business significantly. We may elect at times to invest at a faster pace, such as this year in 2021, in order to scale the business even faster. We've demonstrated that we can run the business at effectively breakeven whenever we choose to. In terms of how we think about our financial profile overall, we're looking to continue on a strong growth path over the coming years, in line with our growth rates in 2020 and 2021. We're also looking to return to a cash flow neutral profile by 2023. We think of cash flow neutral as being in the vicinity of operating EBITDA breakeven. Moving to slide 19. On the left chart, as discussed already, ARR at the end of 2021 was $46.2 million, including Connective, representing strong year-on-year growth of 62% or a 67% two-year CAGR. Excluding Connective, Nitro also has a strong ARR growth profile over the last two years with a CAGR of 56%. Correspondingly, on the right chart, we've also had strong subscription revenue growth over the last two years with a CAGR of 60%. In conclusion, we're very pleased with our top line performance on ARR and subscription revenue and feel confident that we'll maintain our strong pace of growth going forward, as well as maintain attractive unit economics. Our year-over-year total revenue growth accelerated in 2021 to 27%, including Connective, and 26% excluding Connective, which is meaningfully higher than our year-over-year total revenue growth a year ago of 13%. This acceleration reflects our successful transition to a subscription business model, given that subscription revenue is now the majority of our revenue. Subscription revenue represented 66% of 2021 total revenue, up from 53% in 2020. Over time, we expect our overall revenue growth rate to reflect that of our subscription business as it becomes increasingly dominant in our business model. For example, in Q4 of 2021, subscription revenue was an even larger share of 71% of total revenue. Moving now to slide 21. Well, I wanted to further highlight our successful transition to a SaaS company by looking at the subscription share of revenue in the business sales channel specifically. As a reminder, Nitro's business sales comprise sales executed by Nitro's sales team and exclude online e-commerce sales via Nitro's website. The business sales channel generates the majority of Nitro's revenue. It constituted 76% of Nitro's total revenue in fiscal year 2021. As a reminder, the rest of Nitro's 24% of revenue is generated from the self-serve online e-commerce channel, where purchases of under 20 licenses are transacted via Nitro's website. Online sales are entirely perpetual and will continue to be perpetual license sales in 2022 as well. Returning to our focus on the business sales channel, however, 87% of its revenue in 2021 was subscription, up from 72% in 2020. New bookings in the business channel effectively, entirely at this point are from subscription contracts, with only a very small remaining set of maintenance and support agreements and some occasional perpetual license sale to a small set of developing economies where perpetual sales are still the standard. Having reached subscription revenue share of 87% of total business sales revenue, Nitro considers this transition to subscription in the business sales channel as effectively completed in 2021, and we will no longer report on this transition. Here on slide 22, we wanted to further highlight our successful transition to a SaaS company. To give you some sense of scale and how far we've come, this slide shows performance back to 2016, which is our very first year of subscription. Since launching our business, we've attained the milestone of reaching over three million licensed Nitro users in total. From a subscription perspective, specifically, Nitro surpassed the milestone of one million PDF Pro subscription licenses, ending the year at 1.1 million active subscription users at the end of 2021, reflecting a 108% five-year CAGR. Our subscription customers include household names that Sam mentioned earlier, such as Deutsche Bank, Procter & Gamble, ICON, Chubb, General Electric, but also so many more from every industry and region around the world in which we operate. Moving on to our key SaaS metrics. We're very proud of our performance in 2021, and we see an opportunity to strengthen these metrics even further going forward. Of course, our number one SaaS metric is ARR, which you see here on the right. Since we talked about that already, we'll look now at some of the key SaaS indicators as shown on the left. Nitro saw a gross retention rate of 94% versus 12 months ago. Gross retention rate, or GRR, is calculated as a percentage of overall ARR value from all active subscription customers 12 months ago that was retained as ARR at the end of the current reporting period. This includes the impact of full or partial cancellations, but excludes ARR from expansion or new subscription customers. GRR is the inverse of churn, so this 94% number represents a 6% ARR dollar churn rate compared to one year earlier. For net retention rate, or NRR, Nitro achieved 113% net retention versus 12 months ago. For those not familiar with NRR, it's a measure of how much the ARR value of the entire customer base changes in a 12-month period before adding any new customers. It's the percentage change in the ARR of the current customer base, measuring from a starting point of 100% and then accounting for both churn and extension. Our number of 113% at the end of 2021 essentially means that our ARR from existing customers grew 13% in the year before we sold to a single new customer. Given we know that our churn rate was 6%, in order to reach a 113% NRR, this means that we attained a very high expansion rate in the base of 19%. Over the last 12 months, almost all our expansion in the base has been through upsell. That is, selling more licenses. Going forward, we also expect a balanced contribution from cross-sell and a balanced mix between both upsell and cross-sell, given the acquisition of Connective and PDFpen, which Sam discussed. We're expecting to drive strong cross-sell performance following the acquisition of Connective in particular. As announced at the time of the acquisition, Nitro expects sales of Connective products to Nitro customers to deliver annualized run rate revenue synergies of $2.5 million by the end of 2022. This synergy number does not include the cross-sell potential of selling Nitro's products to Connective's customer base or the increased potential of going to market together with a broader product portfolio comprising both Nitro's and Connective's product capabilities. Finally, we achieved a 4.7 ratio for our lifetime value to customer acquisition cost, speaking to the strength and efficiency of our go-to-market motion. Very simply, this metric means we're realizing a lifetime value per customer that is 4.7 times the cost of acquiring that customer. Our strong LTV to CAC unit economics give us high confidence in our ability to effectively scale our go-to-market engine. Finally, we wanted to highlight our balance sheet, showing our strong cash balance with no debt. We finished 2021 with $48.2 million in cash and cash equivalents. In Q4 of last year, Nitro successfully completed a AUD 140 million capital raise through the combination of an institutional placement and a retail entitlement offer to fund the acquisition of Connective. On 20 December 2021, Nitro completed the EUR 70 million acquisition of Connective, and earlier in the year, in July 2021, Nitro completed the $6 million acquisition of PDFpen. Both of these acquisitions are reflected in our 2021 financials. Nitro's cash balance at 31 December 2021 provides the company with the financial flexibility to pursue continued growth opportunities. That concludes the financial review. I'll hand it over back to Sam to walk us through Nitro's business strategy and outlook. Thanks, Ana. To finish up today, before we go to questions, I wanna talk a bit more about the size of the market opportunity, a bit more about our strategy, the investments that we're making this year, and the outlook for the year, including guidance. Firstly, to talk about market size. Earlier, I referenced the size of the eSign market and the impressive circa 30% annual growth rates that are expected over the next decade. eSigning, of course, is today only about 15% of Nitro's business. The remainder is PDF productivity, and that in and of itself is a very large $11 billion market. Again, per our eSign TAM estimates, and like other vendors in this and similar spaces, we calculate that market size by extrapolating the contract values that we're currently achieving across the known potential customer universe. If anything, this is likely to understate the market size as we don't capture all potential customers in that assessment of customer universe, and our contract values are likely to increase over time through upsell and cross-sell. Regardless, it's clear that the opportunity just in our current two primary software categories of PDF Productivity and eSigning is close to $30 billion per year. When you look at adjacent markets in workflow and other forms of document management, this number likely more than doubles. There's enormous runway here for growth and scale. When we think about how Nitro is positioned for current and future opportunities in both our core product categories today, as well as those that are adjacent and beyond, we believe the opportunity is extremely compelling. Firstly, if you look at enterprise IT priorities in 2022, you can see this top five numbered list here on the left. It reflects a recent Ovum or now Omdia survey. Nitro delivers against literally all five of these top five enterprise IT priorities for 2022. High-trust signing and eID-powered workflow squares very neatly with number one on this list, you know, security, identity, and privacy. Of course, when you look at numbers two through five, you know, creating digital capability, building the modern workplace, modernizing legacy systems, and adopting cloud services, of course, these are all initiatives that we support directly with our PDF productivity and eSigning solutions and the Nitro Productivity Platform more broadly. Second of all, when it comes to the key long-term trends in digital transformation and in software generally, there are a few things to bear in mind. One is that over time, the lines between distinct explicit software categories are blurring and eroding. For example, customers are increasingly describing what they need in terms of their requirements and a sort of stated desired solution, rather than saying they want a product from category A and a product from category B and a product from category C. Customers are increasingly category agnostic. They want fewer vendors who can do more across multiple product categories, providing more use cases and capabilities and in more integrated ways, and particularly with better reporting and better analytics. Another consideration is that digital transformation is truly a journey. It's not once and done. In fact, for most large enterprises, there are rolling five and 10-year plans that cover everything from the initial digitization of paper-based processes, to optimization and acceleration, to enhanced monitoring and reporting and intelligence, and right up to the widespread application of advanced technologies like AI in the later phases of the customer journey. As these lines between products and the categories blur, and as customers demand platform providers who can do more in more powerful and integrated ways, not only is Nitro very well positioned to succeed in our current core categories as those categories start to come together, but our market opportunity over time can scale into multiple adjacent categories. There's really a multi-decade opportunity here, and that's incredibly exciting. Given that and given the, you know, the fast-growing market opportunity and just the scale, we continue to focus our investments in sort of the areas that all scaling software companies do, and that primarily means we invest in product and we invest in go-to-market. Most of our cost is in people. You know, talent is what wins the day in technology businesses and of course, ours is no different. We feel very fortunate that with our office hub plus remote model, we're able to hire in so many different locations around the world. We have offices, and so these are hub locations in San Francisco, Dublin, London, Melbourne, Toronto, Antwerp, Paris, and Barcelona, the last three coming through our Connective acquisition. We're also opening a new engineering location this quarter in Central Europe. Outside of those hubs as well, we continue to hire remote workers where it makes sense, you know, distributed team members, where it makes sense. We're generally flexible about how our Nitronauts, you know, spend their time, where they spend their time in terms of working from home versus working from the office. We've started to see recently a return to our offices, and so it's effectively kind of a hybrid model for us going forward, for those Nitronauts who are in a hub location. We call our model Flexible Forever, basically supported by offices in key locations, and it's really the best of both worlds. It's been pretty powerful in attracting and retaining talent, and it's been amazing for productivity as well. In 2022, we'll continue to recruit talent in all those locations around the world, and Nitronauts everywhere will be focused on continuing to deliver the product vision that we've set out, while taking that vision to market, you know, directly and via our channel partners. Moving on now to slide 29. You can see exactly where we're focused this year in the areas of product and go-to-market. Look, in product, and I'll be quick here. In product, we're expanding and strengthening our competitive position in PDF productivity. We have completely transformed our competitive position in eSigning with the Connective acquisition, and that integration, of course, is ongoing. We are continuing to further our differentiation with Nitro Analytics. All of this together with a lot of the work we're doing on the platform itself is really delivering that Nitro Productivity Platform vision. In our go-to-market organization, we're continuing to scale the sales and marketing machine. We are driving Nitro Sign and Connective cross-sell, and we're expanding our channel strategy pretty significantly this year. We have a really equal focus now on winning new customers as well as renewing and expanding our current customer base. Moving on now to slide 30, you know, just to talk about some growth levers, when you think about what's driving growth, not just this year, but in kind of this multi-year, multi-decade digital transformation rather opportunity that we have ahead. We have a dedicated team that's focused on customer expansion now. While almost all of Nitro's account expansion in the past, which is driving that net revenue retention or NRR number that Ana referenced earlier, all of that's come in the past from upsell, in other words, selling more licenses of Nitro PDF Pro. This year and in the future, we expect a much more even balance between upsell and the cross-selling of Nitro Sign and other new plans and new features and products. Of course, when it comes to new customers, we'll continue to take the big wins we're having and leverage those to penetrate new accounts and regions and verticals. Look at other new development actually in 2022 into the go-to-market is the growth of the solutions integrator partner ecosystem. You know, based on bringing Connective's over 110 solution integrator partners into the Nitro Partner Program. As we do sort of larger and more complex deployments in enterprise workflow, it's actually really important to have partners who can provide those implementation services, account management services, and we're really excited about continuing Connective's wonderful, you know, channel success here. Finally, in terms of, you know, maybe the other lever to mention that was, you know, transformative for us in 2021, we continue to look in a very disciplined way at M&A opportunities. We looked at well over 1,000 companies over the past 18 months to two years. We executed, of course, just two transactions. You know, we're generally focused on targets that can accelerate our roadmap and basically bring more of that productivity platform vision to life and unlock, you know, even greater cross-sell potential. Yeah, these are the areas that we're focused on in terms of driving, you know, growth and scaled growth for many years to come. With that, guys, we're, I think, ready to close. We'll present guidance and then jump to Q&A. For the 2022 calendar and fiscal year, we're forecasting between $64 million and $68 million in ARR. That represents 39%-47% growth over last year. We expect between $65 million and $69 million in revenue, representing 29%-36% growth over last year. We expect an operating EBITDA loss in the range of $18 million-$21 million. These are, you know, truly top quartile growth metrics on certainly Australian, but especially on international software markets, you know, with strong underlying unit economics that Ana referenced before. You know, we remain extremely bullish about the short and long-term prospects for enterprise software and for Nitro specifically. Look, I think with that, we'll go to questions. Look, in closing, we'd like to thank you all for joining us today and for your, you know, continued support as shareholders. We know there's a lot of volatility in equities, public equities right now or probably everywhere. We remain true fundamental believers in enterprise software in the scalable and the cash generative nature of these business models and the enormous global market opportunities. We will stick at it. Thank you for your time today, guys. Let's jump into the Q&A. Our first question is, does the EBITDA guidance include or exclude integration costs relative to Connective? Our operating EBITDA guidance does not include the integration costs. The integration costs, given that they are one-time costs, will be below the operating EBITDA guidance. You know, as we've shared with the market at the time when we announced the Connective transaction, we do foresee that we'll have a total integration cost budget of $5 million, which will be deployed over the course of 2022 and 2023. Our next question is, are you able to give some color on the guidance assumptions for Connective? Excluding synergies, should we assume the historical 30% growth rate? With regards to our revenue reporting, we are reporting as a joint entity going forward. We'll not be splitting out, you know, the Connective performance relative to the Nitro performance, as we're really forging together the go-to-market efforts of the two businesses. I think the best guide in terms of thinking about the revenue is really just our overall guidance for ARR and for revenue. Our next question is, can you please break down the revenue guidance between subscription and perpetual? Are you expecting to see perpetual revenue decline in FY 2022 versus FY 2021? The next question is, what will blended gross margin be for the combined Nitro and Connective business? Blended gross margins will continue to be very strong, potentially marginally below the 92% level that we are at today, but still, you know, in and around kind of the overall 90% level. So we do anticipate continued very, very strong gross margin levels. Another question here. When will the data sovereignty be implemented in the U.S. for Connective? We are literally just a month or two away from having a regional data strategy for Connective. That will include the U.S. and I'm proud to announce also Australia. That support is actually in production testing right now. We are probably just a matter of you know weeks or a month or so away. I currently don't have any more questions on the screen in front of me. I'll just wait for 30 seconds to see if any more come through. Yes, we do have another question through. Can you talk to how adopting Connective's transaction-based revenue model will impact Nitro's enterprise sales channel with regards to how we should be thinking about net revenue retention and ARPU growth on a go-forward basis? Yeah, I can maybe start with this, and then, Ana, you might wanna add to it. A key point with Connective and indeed most e-sign or workflow, you know, pricing models, is that they are transactional or consumption based. For those who are more familiar with the Nitro business, you would know that our previous Nitro Sign standalone offerings in terms of the plans that we presented to customers previously were not actually volume or transaction based. They were a fixed price per user per year, with sort of, quote-unquote, "unlimited signatures". The reality is with those plans, that they're not really promoting very high volume signature usage, because the way they were designed was to support kind of simple e-signing, lower volume e-signing, and the feature set kind of reflected that. It is our belief that there is, you know, a really good suitability in the market for both fixed price per user per year plans with sort of unlimited simple signing to support those kind of ad hoc, occasional low volume use cases. While there is also a strong suitability for the transaction-based pricing models as soon as volumes become material. We had a single, you know, pricing and packaging model previously, you know, and of course, Connective had their own single transaction-based pricing model. Essentially, going forward, we are combining the two. Both will be made available. The Nitro Sign Essentials plan will sort of continue as our entry level or starter pack plan for e-signing, which will just be fixed price per user per year. The Connective plan or plans will be transaction based. We expect that the ARPU uplift or I'd rather than calling it average revenue per user, I'd rather call it average revenue per customer or ARPC. The ARPC uplift, clearly, when customers are migrating from sort of simple e-signing, lower volume plans, or indeed having no e-signing at all, to enterprise volume-based e-signing plans, you would expect a pretty significant ARPC uplift. The average ticket size for e-signing is actually significantly larger in a like for like account than the average PDF Productivity contract size. You know, if you look at a large enterprise account, like some of the case studies, for example, we shared today. In organizations of that size, they will be spending significantly more on e-signing than they are spending on PDF Productivity today, just because, you know, the ticket sizes in workflow can be a lot larger than the ticket sizes in end user productivity tools and software. We would expect, as customers, you know, migrate to e-signing, if they migrate to essentially a light, you know, plan with lower volumes, there'll be some ARPC uplift. It will be, you know, material. If they migrate to enterprise high volume e-signing plans, that ARPC uplift could be massive. You know, it could be as much as a doubling or more in the account value. There's kind of a spectrum of uplift there that you could consider anywhere from kind of 10 or 20 or 30%, right up to 100% or more, depending on the breadth and depth, you know, of e-signing adoption and the volumes. We will have both pricing models sitting alongside each other for the different use cases. Over time, we really expect all large customers, you know, all sort of mid-size to large customers will be on volume-based plans, as they kind of go on their digital transformation journey, and add more and more signature use cases and more and more, you know, signature volumes over time. Ana, is there anything you wanted to add to that? I think that covers it well. I believe we already commented on the NRR aspect with regards to kind of the joint companies operating together and the potential to the upside that is coming from cross-sell. Yeah, I think that's just a really important point to emphasize that, you know, we've had, you know, industry leading, you know, sort of top quartile net revenue retention numbers, you know, and continue to do so. It has been purely based on upsell, that is more licenses of Nitro Pro. This year, once you factor in the potential ARPC uplift, on the back of cross-sell to specifically, you know, really Connective where those ticket sizes are much, much larger, you know, it gives us a lot of confidence, you know, in even stronger NRR numbers going forward. We do have a final question sent through, this will be the last question. Another follow-up, if you are going to get back to EBITDA break even for FY 2023, do you think you can maintain ARR growth at 40%-50% in FY 2023? Which cost line is the leverage to get back to break even being driven from? Yeah. With regards to cash flow neutral, I'll just repeat what we mentioned slightly earlier in the Q&A. Cash flow neutral for us is not the same as EBITDA break even. Cash flow neutral is much closer to EBITDA break even, but it represents an operating EBITDA margin of ±10%. We do anticipate to get there, you know, by the end of in the second half of 2023, possibly for the full year. In terms of the leverage going forward, you know, a big part of the leverage really comes from the fact that we have a very strong retention and expansion in the business. With our really top quartile levels for both GRR and NRR, you know, this provides great leverage for the business as we scale, given the fact that our overall base of subscription revenue will be larger and larger over time and will, you know, we'll maintain it, we'll continue at these strong GRR and NRR levels. A lot of the leverage really in the business models comes from that. Of course, in addition to that, there is just leverage from having teams that are already in place that can take us to the next levels of scale, you know, in R&D, in G&A, and also in parts of the sales and marketing structure that you know do not need to expand proportionally to the revenue. Those two are both kind of important sources of leverage for us as we continue to scale. That concludes the questions. Great. Well, thank you very much, everyone. Thanks for joining us today, guys. Thank you, everyone. That concludes today's call. Thank you for joining us. The webcast will now conclude.