For voting and question submissions for those in person and online. After that, Sam and I will provide an overview of Nitro's performance last year, some highlights and financial results, as well as an update on our business strategy and the outlook for the balance of this year and going forward. Finally, we'll then turn to the formal business of the meeting and the voting on the proposed resolutions. Just a quick reminder that all figures presented today are in U.S. dollars. Let's get into the procedural guidelines here. Starting off, the notice of meeting, dated the 22nd of April, 2022, has been distributed to all shareholders and is taken as read. By joining our hybrid annual meeting today, you as a Nitro shareholder or your appointed proxy will have the opportunity to ask questions and submit votes if you haven't already done so. Voting today will be conducted by way of poll on all items of business. In order to provide you with sufficient time to vote, I will open voting shortly for all resolutions. For those attending the meeting online and who are eligible to vote, a voting icon will appear on your screen when the poll is declared open. Selecting this icon will bring up a list of resolutions and present you with voting options. For those voting online, you are free to submit your votes at any time. To cast your vote, simply select one of the options, and your response will be highlighted. There is no need to hit Submit, as the vote is automatically recorded. To change your vote, simply select a different option. Votes may be changed up to the time I declare that voting is closed. For shareholders, proxies, and corporate representatives in person today, I'll ask you to vote once we've gone through all items of business today by completing the blue voting card that was provided to you upon admission. White cards are for our visitors only who cannot vote or ask questions today. Shareholders with a pink card are not entitled to vote on the items of business. With that, I now declare voting open on all items of business and will provide a warning before I move to close voting. It is my duty as chairman to ensure that shareholders have the opportunity to ask questions and discuss the items of business during the meeting. We ask that all questions and comments be concise, be confined to the particular item being discussed, and to matters relevant to shareholders as a whole, and to be informative and respectful. Given that this is a hybrid meeting, I'll first take questions from those physically present at the meeting, followed by online written questions and finally audio questions from participants who have joined us virtually. When we get to the formal items of business, we'll address questions after each resolution, starting first with any in-room questions and then followed by online written questions. All online audio questions will be addressed at the end of the meeting during a general Q&A period. If you're attending the meeting in person, only shareholders, validly appointed proxies, and corporate representatives who were given a blue or pink voting card upon entry are entitled to ask questions. When I call for questions, please raise your blue or pink card and state your name and the organization you represent before asking your question. For those attending the meeting online who wish to ask an audio question, please follow the link on the Lumi platform under Asking Audio Questions, which will direct you to a Zoom call. Please ensure you mute the broadcast on the Lumi platform before you do, as well as accept the option to allow the host of the meeting to unmute you. You'll be able to listen to the proceedings from the Zoom call while you wait in the queue to ask a question. For those attending the meetings online who wish to submit a written question, you may do so at any time during the meeting via the speech bubble icon on your screen. Type your name, the organization you represent, and your question in the chat box at the bottom of the screen and then select the send icon. Confirmation that your message has been received will appear. Please note that while you can submit written questions from now on, I will not address them till the relevant time in the meeting. While time constraints may prevent us from answering all questions, we'll do our best certainly to address your questions during the meeting. All right then. Let's now move to the business presentation of the meeting. Before I begin, though, I would like to introduce my fellow directors who are also in person and online today. As we start off with, we have Sam Chandler, Executive Director, Co-founder, and CEO, joining us virtually. In person, we have Sarah Morgan, who is the Chair of our Audit and Risk Committee. We also have joining us today in person Lisa Hennessy, our Lead Independent Director. Then joining us online, we have Craig Scroggie, our Director, one of our new directors from last year, and then Michael Brown, the Director representing Battery Ventures. Peter Navin, who is our new Chair of the Remuneration and Nomination Committee, is unfortunately not able to join us today, but he does send his regrets. I think also joining us today is Mark Licciardo, our Company Secretary, and PricewaterhouseCoopers, our audit firm. PwC will be available later in the meeting to answer any questions that you might have regarding our annual audit report for the 2021 financial year. All right, let's get into the business presentation. I'd really like to start off by saying that, you know, 2021 was just our second year as an ASX company and really one of the most dynamic years in Nitro's history. I think some of the key highlights include two transformative acquisitions and a successful capital raise that delivered us an expanded product platform that really opened up new product opportunities, new market opportunities, and provide us with the financial strength to achieve really some very ambitious goals for the company. This last year, we successfully executed not only on our organic growth strategies, but we also executed our growth through acquisition strategy. We significantly expanded our product offering and addressable market through the addition of the PDFpen, Mac, and mobile products, and then the year-end acquisition of Connective, which placed us as one of the global leaders in e-signing capabilities. With these strategic investments, we took a significant leap forward in our journey to become an end-to-end document lifecycle platform. Needless to say, it certainly was an exciting year for Nitro as we really purposely scaled to drive attractive growth, but also set the stage for continued aggressive growth in the years to come. You know, we're really proud to have kept our people safe during another, and hopefully last year of the pandemic, while exceeding our financial plan and laying the foundations as a global leader in e-sign and accelerated digital transformation. Getting into a little more detail for 2021. It was yet another year of high growth in which we reached important scaling milestones. We surpassed the $50 million in annual revenue mark and crossed over the 1 million mark for active subscription licenses. You know, our annual recurring revenue or ARR at the end of 2021, including Connective, was $ 46.2 million, up 62% year-over-year, while ARR, excluding Connective, was $ 40.1 million, representing an increase of 41% year-over-year. We're definitely very proud of these numbers as we demonstrate our ability to deliver high growth rates at increasing levels of scale. Nitro completed the year with total revenue of $ 50.9 million, up 27% compared to 2020, with subscription revenue increasing 59% year-over-year. Due to the strong execution during the year on both revenue and costs, our operating EBITDA loss of $ 7.6 million was in line with the upgraded guidance provided in January of this year, and certainly significantly lower than guidance provided earlier in the year. We finished the year with over $48 million in cash, and certainly that has put us in a strong position for continued growth. Now, as we look ahead, Nitro is uniquely positioned for 2022 with a strong start to the year already. Given the large and fast-growing market opportunity, we are focusing our investments in the areas that are really scaling software companies in areas such as investment in product, investment in go-to-market initiatives, and certainly most importantly, in our people. With a strong start to 2022, Nitronauts around the global markets continue to focus on delivering on our product vision while taking that vision to market and directly or via our channel partners that have been a great addition during the year. We will continue to strive for ways to expand and grow, drive performance and execution, operate with increased efficiency, and meet or exceed customer and stakeholder expectations. Very simply, our goal is to build a truly sustainable enterprise software company, and that ambition drives our investment and operating philosophies. In 2021 we experienced strong support from new and current customers around the world. As we head into 2022, we continue to see customers globally that are choosing Nitro to accelerate their business processes, make people more productive, reduce compliance costs, enhance the security of their signing workflows, and much more. During the first quarter, we celebrated a number of big logo wins with both customers renewing and expanding. We now have over 13,000 business customers, and many of those are household names spanning across many different geographies and industries using Nitro at scale. It's truly inspiring to see the level of confidence and trust that companies of all sizes have placed in our productivity solutions. Turning to 2022, we are pleased to announce strong Q1 results with continued high revenue growth and record cash receipts. ARR was up 61% year-on-year, including Connective, and was driven by the continued success of our Nitro productivity platform and the Connective e-sign offering. In parallel with the sales success, we saw record cash receipts of $17 million, up 42% from Q1 of 2021. Those cash flows, combined with the strong balance sheet that we started the quarter with, put us in a strong financial position as we enter Q2. We have over $42 million in cash and no debt. Another key milestone for the quarter was subscription revenue, reaching 72% of total revenue. Since beginning our subscription and enterprise focus in 2016, we've really built a high-growth, high quality SaaS business with compound annual growth rates in both subscription licenses and revenue around 100%. While our subscription business started very small, it is now really an overwhelming dominant part of our business. Nitro's continuing growth and outstanding achievements are a testament to our people who are at the core of our business and competitive advantage. Like everyone at Nitro, I'm immensely proud of our achievements to date and excited about our potential in the years to come. However, none of our success would be possible without the support of our customers, our partners, our passionate team of Nitronauts, my fellow directors, and of course, you, our shareholders. On behalf of everyone here at Nitro, I thank you for your continued support. Now, I will turn it over to Sam. Thank you, Kurt. Okay, guys. The first thing I wanted to do today was actually put our most recent results in a five-year context. As Kurt mentioned, we started our transition to a recurring revenue business in 2016. In 2015, we had no ARR at all. In 2017, which is the first year, you can see here on this chart, we had $4.4 million in ARR. In 2021 last year, ARR exceeded $46 million. There's a 5-year CAGR in ARR of 80%, and we've seen really strong SaaS metrics, including top-quartile renewal and expansion rates across the business. As Kurt said, very proud of the recurring revenue or subscription business that we've built. Last year, we also crossed that $50 million threshold in total revenue, which is a key milestone for any business, and particularly in enterprise software. While total revenue growth slows when you begin a transition to subscription, it's now accelerating, as you can see here. In fact, total revenue growth doubled in 2021 over 2020. We expect our total revenue growth rate to normalize to our much higher subscription revenue and ARR growth rates in the future. Yes, we're very proud of this now five-year track record of subscription business building and sustained growth at increasing scale. I do wanna take a quick moment today to talk about our product platform and its capabilities as well. Do a quick refresh here, particularly after the acquisitions that Kurt referenced of Connective and PDFpen. Because since our beginnings as an enterprise desktop productivity software company, we've really expanded our offerings significantly to become a multi-product platform, and that encompasses everything from what we've always done with PDF productivity now to e-signing and analytics, workflow automation, digital identity, and much more. With the acquisition of PDFpen in the first half of last year, we added native Mac and iOS capabilities, and that now enables us to serve virtually every use case in the enterprise for PDF productivity. With Connective, we not only added enterprise-grade and high-trust e-signing capabilities, but also the most comprehensive digital identity offering of any e-sign vendor in the market to date. We have a very powerful set of APIs now, in addition to document generation, and automation capabilities. This platform that you see outlined here on this slide is supported by, you know, what I firmly believe is the best customer success team in the market. We are supporting deployments today of up to tens of thousands of end users, you know, 50,000 to 60,000 end users at our largest customer accounts. Of course, many of those accounts are kinda household brand names and the largest companies in the world. When we think about how we are positioned today, both for kind of current and future opportunities, you know, including not just our core product categories of PDF productivity e-signing, but also kind of the adjacencies beyond, we believe this opportunity is extremely compelling. If you look at the enterprise IT priorities typical in 2022, Nitro is really delivering here against all five. High-trust signing and EID. How IT workflow squares very neatly with the security and identity and privacy referenced here as sort of the number one priority. Creating digital capabilities, building the modern workplace, modernizing legacy systems, adopting cloud services are obviously all part of the service and product offering that we support with our PDF productivity and e-signing in an analytics platform. When it comes to the long-term digital trends in digital transformation and in software, generally, there are a few things to bear in mind that really benefit Nitro and provide us with that very exciting future. One is that over time, the lines between the distinct or explicit software categories, including the ones that you see here on this slide, are blurring or eroding. For example, customers are increasingly describing what they need in terms of overall requirements of a desired solution, rather than sort of specific categories and demands for those specific categories. They want fewer vendors, in a nutshell, who can do more for less in a more integrated way. Another consideration actually here is that digital transformation is truly a journey. It's not once and done. For most large enterprises, these are 5 and 10 year plans that cover everything from, for example, the initial digitization of paper-based workflows right through to much more compliant, you know, optimized and accelerated workflows in the later stages of that journey. Particularly in those later stages, you see increasingly the adoption of advanced technologies like AI or machine learning. As the lines between these categories and the products blur and customers demand the sorts of platform providers that can do all these things in a single solution and in more integrated ways. You know, we're very well positioned to succeed, you know, not just in those core categories that we are already successful in, but in future adjacent categories that we're not even touching yet. It's truly a multi-year, multi-decade opportunity for enterprise software vendors like Nitro. In 2022 specifically, we're very much focused on scaling the productivity platform that we have in a few specific areas of product and go-to-market. In product, we're really expanding and strengthening our competitive position in PDF productivity. We are transforming, and I mean, we already have transformed with the acquisition of Connective, our position in e-signing. We're continuing to differentiate with Nitro Analytics, which you know encompass you know if you look at all three of these product offerings of PDF productivity, e-signing, and analytics encompasses our current productivity platform vision. Within go-to-market, we are continuing to scale the sales and marketing machine. We're driving a Nitro Sign or Connective cross-sell aggressively. We are expanding our channel strategy, and we do have an equal focus on winning new customers, as well as renewing and expanding existing customers. When we look forward to the levers for growth, in terms of what we can pull on, not just this year but in the years ahead, we do have a dedicated team focused on customer expansion now and this year, and in the future, we expect a more even balance between upsell and cross-sell of Nitro Sign and other new plans and products and features. Of course, we will continue to take all the big new customer wins from 2021 and earlier years and leverage those to penetrate new accounts and regions and verticals. Another key development in 2022 is the growth of our solutions integrator partner ecosystem. That's based on bringing Connective's over 110 solution integrator partners into the Nitro Partner Program. As we start to do larger and more complex deployments in enterprise workflow, it's increasingly important to have partners who can provide implementation services and account management services, and we're very excited about continuing Connective's success here. Finally, we continue to look in a very disciplined way, actually, at M&A opportunities. We're generally focused on targets that can accelerate our roadmap and bring more of our productivity platform vision to life, just like the Connective and PDFpen acquisitions that you saw in 2021. To talk a little bit further about Connective, because this really has been a transformative transaction for Nitro. It's given us a complete spectrum of e-signing capabilities and has established us as really the global leader in high-trust signing. It's allowing us not just to compete in enterprise-grade signing opportunities around the world, but it really is positioning us in a very unique place with respect to digital identity-backed signing. We closed the acquisition of Connective in December. We've been working hard to integrate the product and the team ever since. We're really pleased to report that we've hit our key Q1 integration milestones, that includes the consolidation of the team into a single new organizational design. From a product point of view, we also launched data residency support for the U.S. and Australia during Q1. This means that customers who need data sovereignty in those regions, that is ensuring that the data actually resides in those specific jurisdictional locations, whether it's for security or privacy or compliance for other reasons, can now do so. This is particularly relevant and important for many of our highly regulated customers in industries like financial services or healthcare, but also state, local, and federal government use cases are leveraging that data sovereignty support as well. Thanks to the incredible product offering that we now have, and the extremely capable team behind it, we're excited about our ability to attack the entirety of the e-signing market globally, and not just the simpler e-signing market opportunity that we were accessing before with our prior less mature and less advanced product offering. You know, in terms of attacking that opportunity in e-signing, I think one of the things we do wanna talk about today is the research coverage that we've been able to gather for Nitro Sign following the acquisition of Connective. This is particularly important in enterprise software evaluation. When you look at the decisions that enterprise IT organizations make when selecting vendors, even choosing a vendor for evaluation in the first place, let alone making a final decision, research coverage is definitely a contributing factor. We've been thrilled actually to report that Nitro has launched into the e-signing category immediately with the acquisition of Connective being named by GigaOm in their latest Radar Report as a top three leader amongst a field of 14 vendors. What's kind of striking about this is that not only was Nitro recognized in this category for the very first time, but we've come in as a top three leader, which is really highly unusual, you know, at first pass. More typically, you would start in a challenger position and work your way up into a leadership role. When we acquired Connective, we were very clear in saying that we believed that this transaction would immediately establish the third truly global enterprise e-sign vendor, and this Radar report is a really wonderful validation of that. I'm very proud of both the Connective and Nitro teams for creating a solution offering and executing, you know, over the last several quarters in a way that made this recognition possible. I'd like to close today with a brief update on our 2022 outlook, and we've made changes to our operating plan for 2022. We've reduced certain costs, given our ability to realize greater investment efficiencies while also still maintaining very robust growth rates. The changes that we have made are expected to deliver the following results for FY 2022, and this includes a significantly reduced EBITDA loss. The operating EBITDA loss outlook is improving to be between $15 million and $18 million. That was previously between $18 million and $21 million. At the same time, our ending ARR outlook is unchanged. That's staying between $64 million and $68 million, representing between 39% and 47% growth over 2021. Similarly, our revenue outlook remains the same, between $65 million and $69 million. That represents 29%-36% growth over the prior year. Finally, in terms of profitability, we wanted to note that we are moving towards a cash flow break-even profile in the second half of 2023. With respect to that definition, the cash flow break-even profile refers to having positive operating cash flow after taking into account net working capital, CapEx, and any lease or tax payments. Throughout this year, we'll continue to focus on the Connective integration as well as the execution against our platform product strategy, and of course, the scaling, the efficient scaling of our go-to-market organization. In closing, from me, we're enormously grateful to have every one of you on the journey with us, and thank you for your continued support. With that, I'll hand you back over to Kurt. All right. Thank you, Sam. Before we move to the formal agenda items, I'd like to address any questions anyone has in relation to the business presentations today or any other business matters of the company. All right, then. If there are no questions, we'll now turn it over to the formal business matters. Prior to commencement of today's meeting, valid votes have been received representing approximately 57% of Nitro's issued capital. As stated in the notice of meeting, I intend to vote all undirected proxies in favor of all items. The first item of business is to receive and consider the annual financial report, together with the directors' and auditors' report for the year ended 31 December 2021, a copy of which has been previously provided to all shareholders. There is no requirement for shareholders to vote on these reports. Are there any questions in relation to the reports or the conduct of the audit? There are no questions at this time. All right, then. Moving forward to slide 23, if you wanna advance that. Resolution 1 relates to the adoption of the remuneration report. The resolution being put to the meeting is displayed on the screen here. Please note that a vote on this resolution is advisory only and does not bind the directors or the company. Are there any questions or comments in relation to this resolution? There are no questions at this time. Okay. The proxy votes received today for this resolution will now appear on the screen. I believe that's showing up now. Is that correct? Okay, perfect. All right. The final poll votes will be provided via an announcement to the ASX later today with the results of the meeting. Moving forward to Resolution 2 that relates to the re-election of Mr. Michael Brown as a director. The resolution is again on the screen. Any comments or questions in relation to this resolution? There are no questions at this time. All right. We'll now put forward the proxy votes received to date for this resolution. Again, the final poll votes will be provided via announcement to the ASX later today. Moving through here, to Resolution 3 that relates to the election of Mr. Peter Navin as a director, and that's being shown on your screen now. Any questions or comments on this resolution? There are no questions at this time. All right. We'll put up the results from the proxy votes. Moving forward here to resolution 4 that relates to the election of Mr. Craig Scroggie as a director, being shown on your screen now. Any comments or questions on this resolution? There are no questions at this time. All right. Continuing on here, move to Resolution 5 that relates to the approval of issue of performance shares and restricted share awards to Sam Chandler, our CEO. Again, the resolution is being shown on the screen. Any comments or questions regarding this resolution? There are no questions at present. Okay. Moving to Resolution 6. Relates to the approval of issue of performance shares and restricted share awards to Gina O'Reilly, our Chief Operating Officer. Any questions or comments on this resolution? There are no questions at this time. Okay. Continuing on, moving to Resolution 7, which relates to the ratification of ordinary shares issued following the capital raise. Again, the resolution being shown on your screen. Any comments or questions? There are currently no questions. Okay. Continuing to Resolution 8, which relates to the approval of the issue of securities under the employee equity incentive plan. Again, the resolution being shown on your screen. Any comments or questions? No questions at this time. Okay. Continuing to Resolution 9, relates to the approval of the non-executive director share rights plan and issue of shares underneath that plan. Any comments or questions on this resolution? None at this time. Okay. Moving to Resolution 10, which relates to the amendments to the constitution for virtual general meetings. Again, the resolution is being shown on the screen here. Any comments or questions? No questions at this time. Okay. The final Resolution, number 11, relates to amendments to the constitution for the renewal of proportional takeover provisions. Again, it's being shown on your screen now. Any comments or questions? No questions at this time. Okay. All right. As I shared before in the other resolutions, the final poll votes will be provided via an announcement to the ASX later today with the results of the meeting. We now come to the general Q&A session of the meeting. As a reminder, we'll first address any interim questions, followed by any online written questions, and then finally by online audio questions. For those who are online and in the queue to ask an audio question, please listen to your name as stated on your Zoom account and ask your question when prompted. We will pause here for a minute and wait for any question submissions. It looks like we don't have any questions submitted or in queue, online. We'll now conclude our discussion on the items of business, and then in a couple of minutes, I will close the voting system. Please ensure that you have cast your vote on all resolutions, and we'll just pause here for a moment to allow you to finalize your votes. All right. Well, thank you, everyone. We're going to now close the voting. The voting results from this meeting will be released again to the ASX and posted in the investor relations section of our website at gonitro.com later today. That wraps up our meeting. I wanna thank you for taking the time to join us, joining the director, Sam, myself today, and certainly your ongoing support is greatly appreciated, and we look forward to sharing the next exciting phase of Nitro's journey, and we'll be speaking with you soon. Thank you, everybody. Appreciate your time.
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