This meeting is being recorded. Results investor webinar. On the call today, we have Teri Thomas, our Chief Executive Officer and Managing Director, and Craig Hadfield, our Chief Financial Officer. If you would like to ask a question at any point, please do so using the Q&A facility at the bottom of your screen, and we will endeavor to answer as many questions as possible. If we can't get to your questions today, don't worry. Please send me an email. You'll find my address on the bottom of the announcement that was released this morning, and I will come back to you as quickly as I can. To start today, I'll hand over to Teri. Thank you very much. Thank you so much, Hannah. Hello. Craig and I are delighted to present to you the results of our first quarter fiscal year 2024, which ended on the 30th of June, 2023. I want to start with thanking our shareholders for investing in us. We appreciate your support and our purpose of saving families from cancer. For those of you who are considering investing in us, I'm pleased to share a bit about Volpara with you first. I'll give you over to Craig with a review of our financials, and I'll conclude with a recap of our progress this quarter, as well as some of what we're working on that should bear fruit in future quarters. First, a short bit about who we are. Volpara is a Certified B Corporation, which means we follow rigorous standards in conducting our business as a force for social and environmental good. As I mentioned, we focus on saving families from cancer. We're a software company. We don't make or sell any hardware, and although we do have some very skilled and experienced staff who provide services to help support our customers with integrations and program development, with an underlying goal of helping our customers get the best value possible from our software. Our software automates and speeds up mammography recording. It provides insights to improve the actual quality of mammograms and manages optimal mammogram clinic workflows. It also supplies risk models to assist in early detection, as well as putting people on a path to preventing them from getting cancer to begin with. Our scientists and our researchers support global leaders in their research about mammography, breast density, and our innovation team at the cutting edge, applying artificial intelligence to solve real world problems. That's a bit about what we do. Knowing most of you are tuning in to hear about our performance this quarter, I am absolutely thrilled about Volpara's progress. We are ahead of schedule on our strategy. To not steal his thunder, I will let Craig give you the actual numbers. First, I want to say, Craig and his team are absolutely wonderful, and I want to thank them. This is also an entire company effort. I left our last management meeting with an extra skip in my step as I reviewed our corporate dashboards, and everyone is rowing in the same direction, executing on our strategy, serving our purpose as a SaaS company at scale, and driving value for our customers. This includes our sales, onboarding, support, customer success, innovation, engineering, absolutely everyone. I'm proud of the company's efforts, and our success is well reflected in this quarter by payments from happy customers as we deliver on our commitments to innovate and provide real value. That said, take it away, Craig. Awesome. Thanks, Teri. We're going to look at the 4C cash metrics first, that were posted on the ASX this morning. What seems to be my standard opening line these last few quarters, but again, I'm delighted to tell you that we exceeded our forecast for cash receipts again this quarter, bringing in a little over NZD 11 million. That's up 27% compared to the prior year, or over 21% in constant currency. That is now the third time we've exceeded NZD 10 million, all happened to be in a row, and the second time we've exceeded NZD 11 million in cash receipts, the other time being in Q3 of last year. This has all helped us post our third consecutive net operating cash flow positive quarter, just this time, NZD 9,000. For us, as a business, we see this as a significant milestone, as Q1 is usually, and in this case it was as well, the quarter with the largest outflows. To be operating cash flow positive signals to us that we've sort of crested the peak, and from now on, we should start to see consistent cash flow positive quarters going forward. We do have lumpy cash flows, as I've talked a lot about in the past. Over the next few quarters, we may have a surprise negative cash flow quarter, but on the whole, we see net operating cash flow positive quarters going forward. As a result of this, Volpara is now also guiding to operating cash flow break even for FY 2024. That is a full year ahead of our guidance that we gave in the strategic update in July last year. You will also have seen an announcement a couple of weeks ago about Volpara reducing our Kiwibank revolving credit facility from NZD 10 million - NZD 2.5 million. If cash flows continue to play out as we expect them to over the next couple of quarters, we'll look to reduce the facility even further. Overall, our free cash flow was slightly at NZD -700,000. However, that's a significant improvement over the NZD 3.8 million from the same quarter last year, so a more than NZD 3 million improvement quarter-on-quarter. Cash on hand at the end of Q1 was NZD 12.1 million. That's just down slightly from NZD 12.7 million at the end of March. Now we'll talk about the SaaS metrics. That's our SaaS or recurring revenue metrics. During Q1, we added over $700,000 of net new ARR. That now takes our ARR to $27.2 million. Amongst other sales, we expanded our offerings with Texas Health Resources, University of Miami, Woman's Hospital Baton Rouge. All of those expanded with Risk Pathways. And Baton Rouge, we also added our professional services offering, which is new. We also welcomed some new customers during the quarter. You will have seen an announcement about BreastScreen Victoria. We also added University of Pennsylvania, Rochester Regional, and Benson Radiology in Australia, where we added analytics. We also secured a number of key three to five-year renewals with large organizations like Centura and SSM, re-signing for Risk Pathways, and Christiana and Appalachian, re-signing with Analytics. In terms of annual recurring revenue, we increased that by $600,000 from the end of FY 2023 to $21.5 million. I will say this number is slightly conservative. We've been working on improving how we recognize some of our revenue, so we're not entirely comparing apples with apples, year-over-year here. However, when we do get to the half year, which is audited, we do a wash up, and at that point, we'll be comparing apples with apples. I expect that figure will jump much more than the $600,000 from this quarter, to bring us much more in line with the sort of $1 million quarter that we've been adding in the last few quarters. The last number I'll talk to is just ARPA, average revenue per account, which we've been focusing on ever since our strategic review last year. That number continued to increase, this time from $37,400- $39,000 at the end of Q1. With that, I will hand back to Teri. Thank you, Craig. I'm delivering this presentation from a hotel room, as I'm not yet back from my trip to Redmond, Washington, in the United States. That is the global headquarters of Microsoft. We are proud to have just received two Partner of the Year awards from Microsoft. As most of you know, they're a global leader in innovation and a major investor in OpenAI, who is the maker of ChatGPT. They announced that over 4,200 companies applied for these awards, we are thrilled to have been chosen for not one, but two. Our relationship with Microsoft provides us with a great Azure technology base and also access to some of the best experts in the world in areas like IT security and artificial intelligence. I was absolutely surprised, actually, honestly shocked, to be the only Microsoft partner to speak live at their annual Microsoft Inspire kickoff, just before Satya Nadella, Microsoft's CEO, did his keynote. Even though we're a small company, we do make a big impact, and Satya's keynote had two themes. One of them, integrating artificial intelligence to create positive impact on customers, and then overall, making a global impact. We've been in Microsoft's Cloud Partner Program for a few years, but we've gradually expanded our engagement with them. We're a security design partner. We're a Microsoft Cloud Partner. As I mentioned, we have a co-selling solution published on the Microsoft commercial marketplace, which generated over $1 million in revenue in under six months. With Microsoft's growing expertise in AI, we'll build on the work that we've done with them, leveraging the Azure Machine Learning platform to identify and quantify breast arterial calcifications into other areas. I look forward to meeting with them again in the upcoming months, and about new joint projects leveraging their expanding AI technology and expertise. For a quarter that ends when much of the U.S. is on summer holidays, we continue to grow our customer base, and as Craig mentioned, we welcome BreastScreen Victoria to the Volpara family. We've had already a great start to Q2 with continued growth of our ARPA. We continue to take advantage of industry tailwinds with an outreach campaign to support the new 2024 standards for the National Accreditation Program for Breast Centers, or NAPBC, from the American College of Surgeons. More than 600 NAPBC accredited sites will need to shift their care delivery to greater use of risk assessments, genetic testing, and preventative protocols. The standards are meant to encourage more multidisciplinary collaboration and to require documentation in the patient's medical record, giving Volpara's EMR integration a unique path to supporting compliance. The standards are being finalized this fall and go into effect January 1, 2024. As a leader in this space, Volpara is offering physicians an educational webinar with Dr. Terry Sarantou, a surgical oncologist and contributor to the new standards, and also a current NAPBC site surveyor, which will happen next month. We expect this and similar engagements will help support growing our pipeline, and we continue offering professional services to assist our customers in meeting these new requirements with our software. Of course, our customer engagement platform, Volpara Hive, is buzzing. With additional webinars and customer network and sharing best practices. We love supporting our customers' successes and providing concrete value, plus it's energizing for our staff to hear the success stories from our customers and stay connected with our purpose. Last year, we indicated our focus will be on our biggest and most profitable markets, the United States, Canada, and Australia. During this upcoming quarter, Volpara leadership will take a new look at Europe. We're going to be attending some key conferences and engaging with expert researchers and key opinion leaders in the industry, as well as taking a closer look at some of the upcoming national breast screening programs. Our product and innovation teams are working on new products, we have one new product in the mix, which we've named Quiver, which will provide imaging clinics with an easy way to keep track of equipment health and some key staff educational requirements, taking the headaches out of inspections and saving time for our customers. We are laser focused on helping our customers with their biggest problems. Last week, I visited a couple of our biggest customers, as I do each time I go to the U.S., I ask them: What is challenging you most? What are your biggest problems, how can we help? I have to say, what I've heard from absolutely 100% of our customers in the last year, is that time is their biggest problem. There are not enough radiologists, not enough radiology technologists, and imaging backlogs all over the place, particularly in mammography. Releasing time and giving them efficiency, so they can work through what's actually a global industry problem, is our focus at Volpara. We are listening to our customers, and they love it. Next slide. Speaking of listening, one thing I just couldn't help but mention. While I was in the United States, I was surprised to hear a lot of coverage about breast cancer again on the national news. Like the TV personality, Katie Couric, last year, speaking about her breast density and cancer diagnosis, which I believe was a catalyst for the FDA ruling on density. U.S. TV viewers were once again invited to hear the very personal experience of 10-time Emmy Award-winning journalist, Jill Martin. My heart went out to Jill as she shared about her breast cancer journey. Honestly, I ignored my breakfast and watched a seasoned professional tear up on national television. She was urging women to get to know their risk and get genetic testing. I had intended to end this 4C webinar by talking about how well we are do operationally, and we are in fantastic shape. Instead, I actually want to end by reminding everyone how very important the work we do is. If you're a woman over 25, ask your doctor for an assessment of your risk. Get a mammogram. When you get a mammogram, ask about your density and encourage people you love to do the same. Because knowing your risk, understanding your density, understanding if you have a genetic predisposition, can truly make the difference between catching cancer early when it's curable, or later when treatment is far less certain. Tell your wives, tell your daughters, tell your friends. At Volpara, we care deeply about what we do, and we're glad to make a positive impact on families. I thank you for your attention, and we're happy to take some questions. Thank you very much, Teri. We do have a few questions that have come in advance of the call and then some live. Okay. The first one being, have these results that are unexpectedly positive, brought forward your timeline's profitability? All right. Well, we've said we'll operate cash flow break even for the full financial year. As Craig mentioned, we may have a quarter that would be lumpy, so it's possible that we would dip here and there, so we're sticking with our guidance, but we feel pretty dang strong about how we're doing. If things run forward as expected, we expect to continue to operate cash flow positive. Again, we have that caveat out there because we do get paid by customers in the United States in physical paper check into the mailbox. Sometimes these checks are for hundreds of thousands of dollars, and if a couple of them come the day after the new quarter begins versus the day before it ends, that can have a significant impact for us. Anything else you want to add, Craig? No, I think that's it. Okay. All right. Thank you very much. Has there been any improvement in the global staffing shortages or increased resources that are helping your sales team? We have seen that there's more availability for staff when we're out recruiting, that we've got a bigger base and stronger responses to the ads that we put out there, so I think that that's beneficial for us. Unfortunately, a number of other tech companies have done significant layoffs, and I know there were more announced in the U.S. last week. We have welcomed a new sales team member just last week, and we do have a couple open spots. If you know anybody who cares deeply about breast cancer and is great at sales, let me know. We do expect to take advantage, though, of the reduction in staff shortages in terms of availability for our staff. Our customers are still struggling, though, to get radiologists and technologists, so that only supports the need for them to rely on technology to help them do more with less. Okay. All right, thank you. We have two questions here from Stella. How is the implementation going? The incremental ARR for the last couple of quarters is not as high as the PCP. While we wait for the half-year auditing to confirm the number, do you see much project delay? I'll take that one, Teri. Yeah. Just in terms of how we recognize revenue and ARR, it depends largely on when some of our big projects go live. At this point, we have a number of large customers that are in the implementation phase. You know, in terms of elephants, there are probably five in that category, and there's a couple of other larger customers as well. At the moment, August and October/November are shaping up to be very large months for us with customer go lives. As I mentioned in my talk a little bit earlier, our revenue recognition, we've changed slightly, so we're not necessarily comparing apples with apples right now. It will wash up in September, where I do expect that ARR number to jump up in line with previous quarters, so more in the $1 million plus category. That's partly due to the revenue recognition, but also partly due to some large implementations we expect to go live in the next couple of months. I don't think there's anything untoward there. It's more just timing of implementations. Yeah, to the question that was asked just before this one around staffing shortages, there is still a massive shortage of staff in the U.S. and elsewhere, especially in the IT space, despite layoffs. IT staff at hospitals are in short supply, so customers are having to fight for resource to get implementations live. I would say we've probably had a few delayed, but our team is working really hard to get some of those customers live, and we expect a number of them to go live in August, which will be a material boost to our revenue, as we come in towards the end of our half year. All right. Thank you very much, Craig. Another one from Stella. It's very encouraging to see expansion with current customers. Are those customers adding new modules, or is it that they are stepping up in volumes under the contract? Can take that one as well, if you want, Teri. Okay. Sorry, Teri, then you can add. Most are adding new modules. I mentioned a few of our customers, in the 4C cover letter, we did announce a few of those. We had a few adding Risk Pathways, which is very positive, we see a lot of that. We added some new customers, entirely new customers. Those ended up being mainly analytics. I don't see a specific trend there, you know, it can change quarter on quarter, there's definitely new modules being added. Some customers are adding volume. It's not uniform, some are adding material amounts of volume, some a little bit, some are reducing slightly. You know, there is a lot of consolidation going on in the industry, and in some instances, part of some of our customers may be sold off to a group that doesn't necessarily have our software yet. We have seen a couple of those, but actually, those are very positive for us as a business because it provides us with an opportunity to, again, go into those new sites that may have acquired part of one of our customers, to upsell them or to sell them, some of our software. It's a bit of a combination of everything, I would say. Do you want to add anything, Teri? Nope. Yeah, my answer was gonna be, it's a bit of both. We are seeing, though, a really good response to moving our customers from annual contracts to locking them in for five years. That's, I think, positive for us in terms of predictability of our revenue. All right. Thanks very much, Teri. One here from Anonymous. It says, "Congratulations on the Australian success. Can you give a bit more detail around the Benson and BreastScreen Victoria deals and any other progress you've made in the ANZ region? Oh. Sure. I'll take that one, and maybe you can add as well. Go ahead. Benson's actually been a customer of ours for a while, mainly with our Volpara Scorecard product or density. They've just recently added VolparaAnalytics. They're a relatively small customer, but, you know, in Australia, we have almost the entire private market. There are only a few private entities left, and Bensons was one of those that didn't necessarily have our suites of products. They still don't, they added VolparaAnalytics last quarter, which is a good win for us. BreastScreen Victoria, that's the third BreastScreen we've now managed to close a contract with in Australia. They are slated to go live in August. The only caveat around that one is, part of their procurement processes, they do require some network testing. That's entirely to do with their network, nothing to do with Volpara's software. Due to the large volume of data that flows up into the cloud, they need to make sure that it works as expected. We don't foresee any issues there. Assuming there are no problems there, you know, full go live is slated for the 1st of October. We're looking forward to that. In terms of the rest of ANZ, you know, we are looking at how we can bring Risk Pathways into the Australian, New Zealand market. We're working closely with Microsoft on that. That's probably the main update for Australia and New Zealand. Do you want to add anything, Teri? Nope. That's good. Thank you. Cool. All right. Thank you very much. Another one: With increasing media coverage on genetic testing, do you see customers increasing DNA testing ordering through your platform? The collaboration line is still quite small. How material can we expect that revenue to grow over the next few years? You know, this coverage just happened earlier this week, so it's hard for us to know what the impact will be. I've seen a number of [Teri-Ann] and I actually wrote an article, or together with my team, and posted on LinkedIn about it, too, because we're very encouraging about customers in creating these genetic programs. The biggest barrier to being able to go forward with it, actually, is availability of genetic counselors. There are just not enough of them, at least in the United States. Most organizations, to put one of these programs in place, want to have somebody that is available to discuss those results with patients. Myriad offers their own genetic counselors, we've got our closest relationship with Myriad because that critical piece of the puzzle is something that they can supply. People can then place that order directly with our software and communicate it to Myriad electronically. We're very supportive of it. Because it's a primarily HR-driven barrier, there is also a little bit of time barrier in terms of just going through that step and making sure that the already time-short radiologists involved with mammography are willing to engage, is something that we are helping drive in our professional services in our program development. The other area that I think may open up more revenue for us is, as we grow in primary care. We've submitted to speak at a couple conferences. We'll see what happens on that in terms of supporting primary care doctors to do risk assessment and identify those people that might be at high lifetime risk or high genetic risk and get them tested well before mammography. Craig, do you want to comment about the material nature of the revenue? I think it's just in terms of, we do rely on the genetic testing companies, so Myriad, Natera, Ambry, et cetera, to implement on their side. That can take a while, just like some of our implementations can take a while. It's a relatively slow burn, but, it does provide us with, you know, 100% gross margin revenue. We are keen to grow that line. At the moment, it's a little bit of a slow burn. All right. Thank you very much. We have a few more that have come in. Is there any access to New Zealanders in the South Island to your products? Hmm. No. No. At the moment, access in New Zealand is largely limited to the North Island. We have a couple of private clinics up in Auckland, Auckland Breast Centre, Mercy. Sort of lower North Island, you can go to the Breast Institute down in the Hutt, as well as Hutt Hospital. Broadway, I think, up in Palmerston North, are the five. We just haven't seen Pacific Radiology have to a large degree a monopoly of the business in New Zealand, we have tried to engage with them a number of times, there hasn't been a lot of appetite. If you look at the South Island, they have most of that. We continue to try, but, New Zealand has been a very slow burn for us, frustratingly. Do you want to add anything, Teri? We would love to do more in New Zealand, but it appears that the focus at a national level is much more on getting people in, but less about what happens when you get there to get a mammogram. We hope that changes in the future. Yep. All right, thank you. What changes, if any, have you seen in prospective customer inquiries following the FDA density decision, both in the U.S. and then maybe internationally, too? No, we've seen more interest in understanding density and customers who are asking about the fact that it's a vendor-neutral, raw data analysis, not the processed images. A little bit more sophistication in trying to understand the differences between the offerings that are out there on the market. We haven't seen as fast of a response or as big of a response to the FDA ruling yet, but there's also plenty of time before it needs to be implemented. In general, you know, it's been good exposure. I would say right now, we're getting a little bit more interest in risk. Okay. All right, there's just a few more, I think, for now. Why were there no elephants added in Q1? Well, BreastScreen Victoria was an elephant added in Q1, and we did have a few. What we call them is calves, which is, you know, still six figures, but not over NZD 250,000. We do have several that are around the gates, I would say. This summer tends to be a difficult time, though, for bigger organizations to be able to conclude selection processes because people are often on vacation. We did have some that we thought would come in during Q1 that will likely come in as part of Q2. Anything you want to add, Craig? All right. Final question for today. What can we expect to see from your operating costs over the next 12 months, Craig? Yeah. I think our operating costs are pretty stable right now. We're sort of somewhere in the NZD 10 million-NZD 11 million a quarter range. We're not looking at adding any material headcount. We're sort of around about the 160 mark. We've got a few open positions. I foresee the operating cost base remaining pretty stagnant over the next 12 months. Our folks are pretty good at managing to the budgets. All right. Thank you both. I did see a comment from somebody called Evan, asking if this presentation will be made available on the website. It will be, as soon as it downloads from the cloud on my computer. If you send me an email, Evan, I can send it to you directly, probably tomorrow or Monday. That's it. That wraps up all of our questions today. Thank you, everybody, for joining. Before we go, Teri, do you have any closing remarks? Thank you for investing in us, and, we look forward to giving you an update in our next quarter with our positive momentum. Thank you. Thank you, Craig. Thank you, Teri, and thank you, everybody, for joining us today. Goodbye. Bye-bye. Bye.