Thank you for joining us this morning for Volpara's Q4 results investor webinar. Joining us this morning on the call, we have Teri Thomas, CEO and Managing Director of Volpara. We have Craig Hadfield, Chief Financial Officer, and we have Jill Spear, the EVP of Sales and Marketing. You are absolutely able to ask a question this morning. If you want to do that, please use the Q&A button at the bottom of your screen, and we'll do our very best to answer as many as we can at the end of the webinar. I'll now hand over to Teri to kick off. Thank you. Thank you, Hannah. Hello. Thank you for joining us this morning to hear about our fourth quarter of our fiscal year, which ended on the 31st of March 2023. For those of you who don't know us, Volpara is on a mission to save families from cancer. We're a purpose-driven company and a passionate group of people who provide software to quantify cancer risk and to provide personalized care planning, as well as help improve efficiency, accuracy, and quality of the entire mammogram process. Our work improves the lives of the 1 in 8 women who get a diagnosis of breast cancer by helping healthcare providers with detecting it early enough to cure it. We've continued to build on our first-ever cash flow positive quarter at the end of the third quarter by following it up with a second consecutive operating cash flow positive quarter. We are pleased. We've also finished the year with a record amount of net new CARR added for our fiscal year and added 2 new elephants in Sutter Health and Banner Health. The audit's underway, and we'll be reporting out on our revenue and other accounting metrics towards the end of May. As per the ASX announcements that went out earlier, we are absolutely thrilled. I'm gonna turn it over to Craig Hadfield, our Chief Financial Officer based in Wellington. Also joining me today is our EVP Sales and Customer, Jill Speer, based in the United States in North Carolina, and they will also be on hand for questions as well as me at the end, being able to talk about our results as well as sales activities. You can ask the Q&A function in the Zoom call or raising your hand to speak verbally, but I'm gonna hand it over now to Craig. Awesome. Thanks, Teri. Okay. Let's review the 4C metrics posted up earlier this morning onto the ASX platform. I'm delighted to tell you, although Teri stole my thunder, that we've exceeded our forecasts for cash receipts again this quarter, bringing in a little over NZD 10 million. That's 25% up on the prior year or 19% constant currency. That's only the second time and also happens to be a consecutive quarter over NZD 10 million of cash receipts. That helped us post only our second-ever net operating cash flow positive quarter of just under NZD 400,000. On a net operating and investing cash flow basis, we were just shy of break even at a little over NZD 200,000, net outflow. Both significant improvements on the same time last year with a net outflow of NZD 2.4 million and at an operating level, and NZD 2.9 million at an operating and investing cash flow level. We are about a year ahead of our forecast in terms of break even, and this has largely been driven by excellent cash receipts in September. Whilst we've kept tight control over our expenses, with Q4 outgoings being approximately NZD 500,000 less than Q3 at NZD 10.5 million, of which most of that difference related to the final CRA retention payment we made in December last year. In terms of full year numbers, cash receipts, which are unaudited at this point, totaled approximately NZD 38.5 million. That's up 35% year-on-year or 22% constant currency. Net operating cash outflows improved from a net outflow of NZD 11.3 million in the prior year to only NZD 3.8 million this year. That's an improvement of NZD 7.5 million or 66% year-on-year. This is a massive turnaround from where we were at the end of August last year, so not even the end of FY 2022, but as recent as the end of August. Following the revised strategy and implementation of the headcount reduction and other upper operational changes we made. At that point, Volpara had net operating cash outflows of almost NZD 6.3 million. Since the start of September 2022, Volpara has operated in a cash flow kind of positive manner, with net operating cash inflows of almost NZD 2.5 million. Cash on hand at the end of Q4 was NZD 2.7 million. That's up from just under NZD 12 million at the end of December. Together with the NZD 10 million revolving credit facility, that means Volpara has access to almost NZD 23 million. Given this and the last seven months of cash flow positive operations, Volpara does not forecast any further need for capital for business as usual activities. I will, however, note that Q1's net operating cash outflow will very likely be negative, as Q1 includes FY 2023 performance-related payments. With that, we'll flick onto the next slide, please, Hannah. Now we'll turn to the SaaS or recurring revenue metrics. Q4, we added $900,000 of net new CARR, where amongst other sales we had Sutter as a new customer on Risk Pathways, and we moved Banner Health from a legacy MRS customer to Patient Hub, together with Analytics and Risk Pathways, and additionally locked them in for 5 years. Both great new elephants to add to Volpara. Now that takes total CARR to $26.5 million. That's up $4.3 million year-on-year or approximately 20%, which is a record year for Volpara. At the same time, annual recurring revenue increased about $1 million from the end of Q3 to the end of FY 2023, at $20.9 million. For reference, ARR has increased from NZD 17.3 million at the end of FY 2022, which translates into a $3.6 million increase year-on-year or 21%. All of those are just excellent metrics for the year. ARPA, which is our average revenue per account, that continued to increase, going from NZD 28.9 million at the end of FY 2022 to NZD 37.4 million at the end of FY 2023. That's an increase of almost 30% year-on-year as we continue with our strategy of focusing on larger customers. With that, I will hand back to Teri to talk more about strategy. Thanks a lot, Craig, good work to you and your team. The results that we have are largely because we are very focused on our customers. We are glad that our customer churn remains low and our footprint continues to grow with that increase from 10 to 20 elephant-sized organizations. This means that now over 40% of the screening mammograms in the United States are touched by at least 1 of our products in the United States. As the majority of our customers still only have 1 of our systems, we have ample opportunities to cross-sell even within our existing customer base. Our customer success division has grown in its size and importance to our company, engaging with our elephant customers closely and creating tangible value for patients through the use of our software. Our first few customers have contracted for professional services where we work with them on not just the technology, but also the people and the processes needed for world-class cancer risk programs. We've met with Epic about building the best overall workflows, including the EHR components needed for comprehensive and effective programs. We are all working very hard, having fun, anchored in our purpose, and providing concrete value. Sometimes it's important for us to pick up our heads and look around a little bit. It's an exciting time for Volpara. We've exhibited and presented at several different trade shows this past quarter. Breast cancer and breast density in particular, have gotten more and more attention recently. Celebrities have shared their dense breast experiences. The buzz of ChatGPT has raised the visibility of AI for everyone, including in healthcare. The latest news in research from the US and Europe, all very good for us. A big one, as noted in our ASX release, is the US FDA finalizing its rule, finally, requiring mammography facilities across the United States to inform patients about their breast density and to do this by September 2024. The regulation standardizes what language is used across the nation and validates the importance of breast density and the work that we do at Volpara. We hope and expect that other countries, including New Zealand, please, and Australia, follow suit. We've actually just seen the first step in that direction with the recent announcement of one of our customers, I-MED, and that's the largest group of private radiologists in Australia, recommending consistent density reporting and using Volpara. Density reporting is important, and it's a great step forward for women. In addition to that, we're supporting the efforts of educational and lobbying groups such as DenseBreast-info on one other piece of legislation called the Find It Early Act. This act is a critical next step necessary for consistent and equitable care in the United States. The current density notification legislation allows for a woman to be told she has dense breasts and offered supplemental MRI or ultrasound. However, there is right now no consistent ruling across the United States about insurance coverage for any supplemental testing. Volpara believes that a woman with dense breasts should not be limited in her follow-up care based on her ability to pay. We firmly support a national approach for follow-up screening coverage. We care absolutely deeply about the industry and our customers, and we continue to support the scientific community through our software and our expertise. There have been some great new studies this past quarter using our software. Next slide. Particularly out of Europe. Volpara continues to be the gold standard in breast density analysis worldwide. Our deep bench of expertise, combined with regular and rigorous scientific validation, is one reason that the most sophisticated buyers select Volpara. We are proud to welcome Banner Health and Sutter Health as elephant-sized organizations this past quarter, and look forward to welcoming several more coming up. We continue on our strategy of focusing on the most profitable products and aligning those with the needs of the largest healthcare organizations anchored in creating concrete value. This strategy is very simple, but in my belief, it rarely fails. You understand your customer's pain points. You understand where they can gain. You alleviate their pain. For example, the pain of MQSA reporting work that we do with our Analytics product. You increase the gain, reducing callbacks, improving quality, and your customers will love you, they'll need you, and they'll give you. We remain on track to hit our revenue guidance for the year between NZD 33 and a half million and NZD 34 and a half million, subject to the audit. We'll re-be reporting that out as part of our annual report announcements end of May. With that, I thank you for your attention. We are happy to be accomplishing much for and with our customers and the millions of women that they serve. We look forward to continued growth, and we appreciate your investment in us. Thank you for your support and our purpose of saving families from cancer, and we look forward to our end of year results shortly. On to questions. Thank you very much, Teri. We do have a few questions that have come in. I think the first one here is probably for Jill, and it is: what products did Sutter and Banner license from you? Jill, you're on muted. Thanks, Hannah. Thanks for the question. Craig did mention that we had two big elephants welcome into our Volpara reserve this quarter. The first is Banner Health, and Banner was using Analytics and an older version of our mammography reporting software in a subset of their account and their clinics. They decided to expand both across the enterprise, layering in Patient Hub, our mammography reporting software, with our new Risk Pathways risk engine to really amplify their personalized screening program. Sutter, on the other hand, has a very comprehensive high-risk program across all of Sutter, and they really utilize an Epic workflow, bringing in referring physicians, PCPs and OB-GYNs into the care pathway of the patient. They elected to do Risk Pathways to power that workflow to bring all of our risk assessment models across all cancers for their high-risk clinic, team. All right. Thanks very much, Jill. There's one here probably for you, Teri. It's what strategies are in place to increase the number of products your customers are using? You mentioned that some customers are only using one or two products at the moment. Yeah. A big focus area for our product team is building on the strength and foundation of those individual products by creating integrated workflows that are leveraging multiple products and making it easier for a customer to implement, for example, our Patient Hub system with our Risk Pathways instead of using somebody else's risk software, for example. We had previously integrated our Analytics and our Scorecard with our Patient Hub, but we've been working in the direction of deeper integration across all of our products, and then also cross-training our staff so that we can provide a unified Volpara experience to a customer, even if they're using products that historically had been fairly separate. That's the biggest change right there. Anything you want to add, Jill? I was actually gonna add, we've had Volpara Hive, which is our user community, and we just launched the digital experience with that group. We're already seeing lots of customers join in and join our Volpara Hive. To be able to engage more deeply and communicate with other users and share best practices. We see that as another way that we'll be able to really expand customers understanding the full complement of our offerings and how they can work together. I also mentioned earlier about our professional services, but I think one distinguishing value add for us compared to some of our competitors is that, instead of looking at here's this piece of software and here's this piece of software, here's the technology, have at it, we've invested in hiring people who have really deep knowledge and understanding of both mammography and risk workflows and even expanding into areas like primary care. I sat next to a customer who assesses risk on every single woman that comes in for a well-woman check, including pre-mammography age. Us bringing to the table the expertise of how to pull all of these pieces together is a value add that our competitors that just do one piece can't do. All right. Thank you. We have a few questions that are quite similar, so I'm just gonna kind of group them together. It is: What impact do you anticipate the FDA ruling to have for you commercially, but also how has it and how do you expect it to impact your pipeline? Given the pipeline word, why don't I give that to you as well, Jill? Would love your take. Sure. We're definitely seeing an increase in activity and interest from customers just from the spotlight that the FDA ruling has and the legislation, the language has put on this topic. Not only are our customers interested in hearing about it, but patients are asking about it. I personally love that. I want every woman to know her breast density and her best care pathway. We have definitely seen an increase in the Scorecard product, which does measure density. One of the other products we're seeing an uptick in is a software solution we have that brings a patient's thumbnail of her mammography image, so it's actually like a picture of her mammogram into her letter. That has a QR code so that she can go to an interactive website and learn more, and also compares her mammogram to the BI-RADS category standard A, B, C and D. That's gotten a lot of interest. An FDA inspector recently told one of our customers using that technology how impressive that was and what a sea change that was in engaging the patients. We're seeing an increase in that as well, which is important because it's not enough to just tell them, it helps them to engage differently and stand out in their market to their patients. You know, in that concept of anchoring everything we do in customer value, one of the biggest things that I've heard as a response to the density in form legislation is, "Oh my gosh, is this gonna take more time?" For us, again, going beyond just here is our objective measurement of density to here is a robust set of material to explain what this means to you as a provider and to the patient themselves, saves them time and allows them to achieve that objective in a way that doesn't slow them down. That's, to me, another differentiator for us. Thanks very much. One here for you, Craig, and it is: What does the pathway to statutory profitability look like now that you have a reduced cost base, and how much of a priority is that goal? Cool. Thanks, Anna, and thanks, Claude, for the question. I think, Claude, to answer your question, probably in a couple of ways. I think our short-term goal is EBITDA profitability. We've made significant strides in that area, and our annual results will show that in about four weeks' time. Obviously after that would come net profit, net profitability. We have quite a few non-cash costs, as you know, from the two acquisitions that we've done over the last few years, which obviously adds quite a heavy cost onto the P&L. What I can tell you, or what I will tell you, is to a large degree, our cost base is stable. When we look out the next few years, you know, we don't see that cost base increasing materially, and there'll be some costed increase, but there will be some offset from some of our largely non-cash costs as they decline over time. I wouldn't say it is a short-term goal of getting to net profitability, but definitely EBITDA. Then obviously, hopefully, in the next few years, we'll be heading definitely towards net profitability over time. Okay. That also leads on to a question we received prior to today, which is: Have we seen the full cost benefit of the strategic changes that Volpara made earlier in the financial year? Yes, in terms of the fact that we have reduced our cost base in line with what we indicated to the market, if not slightly more. We indicated we would reduce costs somewhere in the region of NZD 1.5 million per quarter. We've done that. That is a saving that we should see going forward. FY 2024, we should see that NZD 6 million over the whole year savings compared to what we would've been running at in FY 2024 pre the changes. The changes have filtered through and, you know, to a large degree, we are comfortable with our cost base where it is right now. As you've seen, our cash inflows have been ramping up, significantly over the last sort of, six to nine months. We see that continuing, together with the reduced cost base. Okay. Thank you. Another one. You mentioned earlier, Teri, that these unexpectedly positive results have brought forward the timeline, the long-term timeline to profitability. Do you have any more detail to add on that? I'll give that back to Craig, since you're talking about the numbers anyhow. In general, we're still maintaining our guidance that we'd given. As Craig mentioned, we expect that next quarter will be unlikely to be cash flow positive based on this being when our incentive payments, which are hard-earned by our staff, being very focused and doing what we set out for our organization to focus on. However, because our revenue is fairly lumpy, and I believe and hope is not a plan, so what we give to the market as guidance, I wanna see a clear path to. We're not planning to make a significant adjustment. Is there more that you wanna add, Craig? Sorry, one correction to what you said is our revenue isn't lumpy, our cash receipts are lumpy. Correct. Sorry. You know, the guidance we gave to the market, just to remind everyone, was that we would be cash flow positive in Q4 of FY 2024. We've done that twice already. Q3, in my mind, was a bit of a bluebird, Q4 was, you know, solid receipts and a stable cost base. I think over the other piece of guidance we gave was that FY 2025 we would be fully cash flow positive. I do not suspect we will be fully cash flow positive in FY 2024, I think where we thought we would be has probably been exaggerated by somewhere in the region of six months. Okay. Thank you. an interesting question here. It says: Has Volpara ever engaged at looking into providing professional training for early training for screening technicians as under the guise that if you are trained on a particular software, you will be more inclined to use it for the rest of your career? That is an interesting question. You know, a lot of the elephant size organizations are actually academics that provide that training and so, you know, we're very much supportive of them using our software. True. We also have something interesting called Analytics in Action, where we contract with a company called Mammography Educators to be able to provide on-the-job training and, using our software to target who are people that need training and what sort of training do they need, and this third party that can provide some very, very high quality training as well. There are a number of ways that we do think that this is part of our purpose of saving families from cancer and improving quality isn't just the technology, but it's also the people, the processes, and the whole infrastructure around it. I'm gonna turn it to Jill, if there are any kind of specific examples that you wanna bring up. Sure. thanks. I would also say if you're asking the question and you want to talk to us, we love to support early educators. Call up my LinkedIn. My email's on LinkedIn. My phone number's there too. Please reach out. Everything Teri said I would agree with, and I think we have a great example. When you go to a lot of the training programs in the United States, you're not actually doing hands-on mammography. You end up going out into the world, into the wild world, and do mammography, and you get on-the-job training to help hone your skills and positioning. We have a great story at the Krohn Clinic in Wisconsin, where a new technologist started off using Volpara Analytics. She got into the top 25% in the world in positioning and her quality in the first 60 days. It was because every day, at the end of the day, she would go back and see where were strengths and where could she have improved while those patients were fresh in her mind. She could look back and see how she can improve. That rigor of giving herself feedback and building that muscle is really powerful with Analytics. We have lots of great stories of technologists really focusing to improve an area and making a difference using Volpara Analytics. It's a fantastic product. The other thing I'd mention is Virginia Mason Medical Center presented at RSNA, showing that they reduced their recalls by 84%. I think it was right around there, but a huge drop in having to bring back patients and recall them due to the improvement in positioning quality. Some nice stories about how the technology can really help you. We'd love to talk to groups, and we try and work with groups that do that have a lot of staff early in their career so they can help improve. All right. Thanks very much, Jill. Just one final question, and I think for you, Craig, how do you expect your operating costs to change on a quarterly basis over the next 12 months? In the last two quarters, we've averaged around ten and a half million dollars to $11 million a quarter. I expect that to increase marginally, to perhaps $11 million, but below $11.5 million average over the whole of FY 2024. There'll be a marginal increase, but nothing material from where we've been running the last couple of quarters. All right. Well, that is all of the questions for today. Teri, do you have any closing remarks before we close the webinar? Well, because I believe in precision and making sure we're accurate, I just wanna correct, it was a 74% reduction in recall. Thank you. I was like, "I think it was 74." I just quick verify. That's still phenomenal. Absolutely phenomenal. For those that you don't, that don't know what a callback is, when somebody goes in, gets a mammogram, and they're told to come back in, they immediately think this means they have cancer, but it might be that they were just moving around, or the compression wasn't right or etc. It's a very, very big deal to reduce those callbacks. With that, again, thank you for investing in us. We're super optimistic about what we have going forward. The work's not done. However, you know, it's a great time to be at Volpara. All right. Well, thank you everybody for joining, and thank you, Teri and Jill and Craig, for being here today. If anyone does have a question that you didn't get a chance to answer it or you couldn't, please send me an email, and I will come back to you as soon as I possibly can. You'll have seen that this is being recorded, and it will be put on Volpara's website within the next 24 hours, so you can always go back and watch. Again, thank you very much, and I hope to see you all soon. Bye. Bye. Thanks. Bye.