Okay, I think we're ready. Good morning, everyone, and welcome to our Investors Update Conference Call. All callers are in a listen-only mode. On this call this morning, the company's CEO, Omri Brill, will provide an update on the company's operations and strategy, followed by a financial review by Adcore's CFO, Yatir Sadot, of the company's Q3 2022 financial statements. After which, we will answer pre-sent questions and take questions from participants. I would like to take a moment to remind participants of the safe harbor statement. This conference call contains certain forward-looking information and forward-looking statements, collectively forward-looking information, including statements about the company. I'll give you now a few moments to take a look at the forward-looking information as reflected on the screen. Okay. At this time, I'll be turning the call over to Omri Brill, Adcore's CEO, to update you on the operations and strategy of the business. Thank you very much, Gab, and good morning, everyone. Thank you so much for joining us today. With no further ado, let me start my overview of the Q3 results. Let's start with the numbers themselves. Obviously, our CFO, Yatir Sadot, will go over the financials in more details. For us, it was finally a very strong and good quarter, actually a record quarter for us, Q3, in terms of gross profit. Top-line revenue grew 45% quarter-over-quarter, so that's a massive quarter-over-quarter increase from CAD 5.2 million in the second quarter to CAD 7.5 million in the third quarter. Gross profit growing 62% quarter-over-quarter from CAD 2.1 million in the second quarter to CAD 3.4 million in the third quarter, and that's like an impressive increase in all important metrics. If you look a bit further down the woods, then what we see when we look at the quality gross KPI that the company stated that is gonna be the KPI that we're looking after in 2022, then we can see gross margin actually improved a lot over the last few quarters. If Q3 2021 was 23%, then obviously it grew up to 33% in Q4, and now above 40% in the last three quarters, and this quarter, Q3, was already 46%. That represents 100% year-over-year increase in gross margin, which is a massive increase. Another important quality KPI for us, it's revenue we are able to generate in North America. That's again we see a massive increase to a record of $2 million in revenue. If you look at Q1 2021, it was a bit less than $400K. Fast-forward less than two years, it's already $2 million in revenue and also a massive year-over-year increase and quarter-over-quarter increase as well. Well done over there as well. Working capital, which is another important KPI for us, actually grew this quarter in $400K. This growth is on top of basically, beside the fact that the company did almost CAD 133,000 or a bit more than CAD 133,000 in a share buyback during this third quarter, and the Amphy investment of over CAD 500,000 in Q3 as well. Basically, we did a buyback, we continue to invest in Amphy, but still we were able to grow the working capital in almost half a million, which is a strong and important achievement for us as well. If you look at the important developments that the company announced during the third quarter, then I would say maybe one of the most important of them is the launch of an all-new app, the Alerter app. Basically, the Alerter app is an all-new monitoring app that we launched under the Adcore Marketing Cloud. What the app does, it allow us to monitor 24/7 all our digital assets, including websites that we have, landing pages that we have, data feeds that we might have, all our campaigns and ad accounts as well. Basically, the app gonna send us alerts in real time if something went wrong. If the website is down, for example, we can get an email alert or in-app alert from the app itself. If there's issue, let's say, number of items drop in the data feed, we can get an alert for that as well. Imagine you're a large advertiser, that you run multiple campaigns over multiple accounts with many different data feeds and many different website and landing pages. These apps can basically allow you to sleep well at night while the app continue to monitor and see everything that you are doing and basically send you alert if something went wrong. The app is the fifth actually apps that we have within the Adcore Marketing Cloud offering. That's another yet important milestone to achieve the I would say the ultimate vision of the Adcore Marketing Cloud, which is basically one place that will allow all the essential apps that a marketer need, similar to what Adobe is doing with their Creative Cloud, basically put all the different apps that a designer need. Adcore would like to do the same concept for online marketers, and the Alerter app is basically a very important step towards materialize this vision of us. We didn't talk about Amphy on the previous earnings call, and basically people ask us how Amphy is doing. The short answer is we're doing quite okay. We did, like, a very heavy investment in Amphy, literally rebuilt or rewrite the entire Amphy website and platform from scratch. I'm glad to report that this massive investment starting to bear fruit. The idea over here is what we decided to do is to look at the most important KPI of Amphy, what is the unit economics of Amphy, whether it makes sense, whether it doesn't make sense, and how can we improve it. If you look at all the important metrics with Amphy, if we talk about the current share price and basically and we look at, like, what is the current share price and also comparables. We put on the right side of the slide many different ad t ech and martech company brand names that you all know, like Criteo, for example, so PubMatic and other I would say important ad tech company. What we can see that the EV for gross profit multiple the average is 6.4 versus 2.1 that Adcore is currently getting. If you look at EV to adjusted EBITDA, the market average multiple is around 24, and Adcore is getting less than four. Basically, this is a major upside in the company's stock price, 200 if you look at gross profit metrics and almost 550% if you look at the adjusted EBITDA multiples. Basically, that give the company an idea basically that the stock price is currently still undervalued. There's a lot of upside when we look at the current stock price and market evaluation. In order not just to talk about it, and we can put our money where our mouth is, then basically during quarter three, we continue to buy back shares as well. We bought almost 500,000 shares for cancellation. Average share price that we bought was around CAD 0.28. All in all, the company invested in buyback during the third quarter, CAD 133,000. Finally, we know that last quarter, we already give a guidance for what's gonna be the, you know, what we expect to see in the following quarter. Actually, I'm very happy to see that we beat our even optimistic guidance expectations for Q3. That's always good. It's a good start. Starting in the right foot. When we talk about Q4, what the company decided to do, because Q4 is such an important and massive quarter for us, and there's a lot that's going on during the holiday sales, that we would like to wait until at least Black Friday, Cyber Monday, holiday sales are over, and only then we can feel a bit more comfortable to give guidance because we wanna be accurate, and there's a lot of fluctuation about it. Basically, stay tuned. We're gonna release a different PR in the beginning of December, basically giving the company guidance for Q4. I would say historically, and if you look at the current trend, we expect to see a very strong quarter and a good, I would say, trend and momentum that we saw in Q3. We expect to see it going into Q4 and well into 2023 as well. I think that finalize my remark. You know, like, on a personal note, every day we come to work and work very hard in order to promote this company and build something together. After I would say a few challenging quarters, the company did a shift in strategy and did a lot of hard work, focus more on the quality of growth and not just growth. Finally, all this effort is paying off, and I think like, Q3 now does tell exactly this story, and Yatir will tell this story in more detail when he gonna go over for the financials. I can't be more happy with the Q3 report. Maybe I will be more happy with the Q4 report, but again, this is strong quarter and I would like this type of reports in quarter obviously carry on into Q4 and well into 2023. Thanks to everyone, and now back to you, Gab. All right, thank you. I will now turn the call over to Adcore's CFO, Yatir Sadot, to quickly review the third quarter financials in more detail. Yatir? Thank you, Gab. Thank you, Omri, and good morning, everyone. Before beginning the financial overview, I would like to remind you that the following discussion will include GAAP financial measures as well as non-GAAP results. All amounts will be presented in Canadian dollars. Let's start. Despite a very challenging macro business conditions, it was a record third quarter for Adcore, so kudos to the team. Q3 was characterized by a continued acceleration of the strategy we started in mid-2021 to focus on higher margin revenues. We continue to focus on the more scalable and durable clients, which we believe in the long run will result in more sustainable and profitable business. Now let's review in more detail. For the three months ended September 30, 2021, we delivered revenue of CAD 7.5 million compared to CAD 10.4 million in the same period of 2021, a decrease of CAD 2.9 million or 28%. Cost of revenue decreased by 49% to CAD 4.1 million compared to CAD 8 million in the same period of 2021. Gross profit was CAD 3.4 million compared to CAD 2.4 million, an increase of CAD 1 million or 45%. In the three-month period ended September 30, 2022, gross margin was 46% compared to 23% in the same period last year. This is a tremendous progress. Gross margin was also improved from 40% in the second quarter this year to 46% in the third quarter this year. Moving to operational expenses. R&D expenses for the quarter were CAD 0.5 million or 6% of revenues compared to CAD 0.3 million or 3% of revenues in the prior year. Sales and marketing and general and administrative expenses for the quarter were CAD 2.5 million or 34% of revenues compared to CAD 2 million or 19% of revenues in 2021. Main reasons for the increase related to the increase in headcount and related salaries, partnership expenses, and emphasis on investment. Looking at the operating profit. Operating profit was CAD 0.4 million compared to an operating profit of CAD 0.1 million. This increase was mainly driven by the increase in more profitable clients in the last three months ended September 30, 2022, compared to the same period last year. Net loss was CAD 0.3 million compared to the same amount last year. As we can see in these three charts, revenue kept growing since the first quarter of 2022. We've been experiencing an ongoing increase in revenues from CAD 4.7 million to CAD 5.2 million, up 10% in the second quarter this year, and from CAD 5.2 million in the second quarter to CAD 7.5 million in the third quarter, up 45%. As I previously mentioned, the most significant revenue trend we saw during the last three and nine months was the increase in higher margin global sales. This has been a key strategic focus of ours as we look to drive long-term shareholder value. Thus far, we see that this strategy is working, and we reported an improved gross profits on an intentionally much lower revenue base. This is why we saw a decrease in revenues and increase in gross profit in the same time. Next slide, I will discuss revenue geo breakdown. As you can see in this slide, increase in revenues in North America by almost CAD 1.3 million and 183% year-over-year. Another tremendous increase in revenues in EMEA by CAD 1.7 million and 110% year-over-year. Moving to quarterly revenues, I would like to show a quarter-over-quarter revenues by regions. You can see each region and its own progress in 2022. Major growing regions, as I mentioned slide before, are North America and EMEA. This slide reflects exactly the trends that we are talking about since the beginning of this year. We exited Q3 with a strong cash and liquidity position. Cash and cash equivalents of CAD 8.2 million as of September 30, 2022, compared to CAD 14.1 million at December 31, 2021. The decrease in cash and working capital is mainly attributable to the following reasons. First, repurchasing shares through buyback plan. As Omri mentioned before, the company sees this strategic and important investment in the company in order to derive more value to Adcore's shareholders and investors. Second reason, Amphy's investment. The third one, related to media payments allocated to 2021 that were paid in the first quarter of 2022. Total working capital of CAD 10.6 million compared to CAD 12.9 million at December 31, 2021, a decrease of CAD 2.3 million or 18%. We believe to close this year with a stronger cash position compared to the third quarter this year. Total assets of CAD 19.7 million compared to CAD 22 million in 2021, a decrease of 10%. We still have significantly low debt. The company continues to hold the balance sheet free of debt, financial debt. Quarterly working capital. As Omri mentioned before, we saw an improvement in working capital by CAD 400,000 since the second quarter to the third quarter this year. Adjusted EBITDA. Our quarterly non-GAAP results reflect adjustment for the following items. Depreciation and amortization totaled CAD 230. Share-based payment totaled CAD 76,000. For the three months ended September 30, 2022, adjusted EBITDA was CAD 734,000, compared to CAD 585,000 for the same period in 2021, an increase of 25% or 10% from revenues. Excluding Amphy's expenses from operating profit, Adcore operating profit was CAD 741,000, and the relative adjusted EBITDA was over CAD 1 million in the three months ended September 30, 2022. Now, with that, I will turn the call back to Gab. Thank you, Yatir. With that, we'll turn the call over to questions. This is the opportunity for participants to join in the Q&A if there are any questions. I will give you a moment to do that now. Okay. We will start with a question regarding the accounts receivable. The first question is w hy did the accounts receivable increase in Q3? Okay. Maybe Yatir would like to answer this one. The main reason for the increase is expanding existing clients' accounts and acquiring new clients. As I mentioned before, we have new clients this quarter, more potential clients than last year, so this is basically the reason behind that. Fantastic. We have a question from Francisco asking if there are any major milestones with Amphy. Yeah. I think like a very important milestone that we've been able to achieve with the Amphy is the releasing of the, what we call Amphy 2.0 platform, so it's revision of the entire Amphy website. We're also changing a bit the focus of, Amphy, to put a bit more focus and emphasis on, B2B as well, and focusing on the KPIs, the key metrics that basically making sure that the unit economics is there. We are happy to report that we see major, improvement over there as well. The next step would be to build the marketing effort, making sure that everything is working according to plan. If everything gonna go according to plan, then I would say 2023, should be able to look at full marketing effort, for Amphy. Great. We have another question from Alexei asking why there is the reduction of CAD 5 minimum in cash, noting that there is CAD 700,000 for share buyback. Yeah. I think it's CAD 5 million. I don't believe you would ask for CAD 5 dollar. It's too little. Maybe, Yatir, you would like to answer this one. Basically, I addressed this question during my review. The decrease in cash and cash equivalents mainly attributed to the..., of course, purchasing shares, investment in Amphy, and media payments that we paid in the first quarter this year that are related to 2021. Okay. Another question just came in. Are you seeing any opportunities to acquire another company? Yeah. I think like obviously there are opportunities in different areas that the businesses operate, and Adcore is large enough to operate in a couple of areas, whether it's Amphy related, whether it's, you know, ad tech related, technology related or even team related. Obviously, there are opportunities. Having said that, under the current market condition, the company believe we should take a bit more, I would say, conservative approach about what we're doing with our money. If the company will continue to present strong quarters like quarter three, rebuilding our cash position, then basically M&A should be on the table, and that's probably gonna take place in 2023. That's the short answer. Great. Online ad spend has slowed post-COVID. Is this impacting the business and how? Okay. Actually that's a great question, and we see like the entire, I would say, market is a mix, right? Obviously, even large companies like Facebook, Twitter, Snapchat are challenging and basically having a more and more difficult time to present solid results. Even better companies like Google or Microsoft are slowing down. Having said that, the market is a mix, and Adcore is lucky enough to be in a very unique position within this specific market. I would say majority of our clients are performance-related clients, and for them, like advertising is bread and butter. If they're gonna stop performance activity, they're gonna stop acquiring clients and basically damage their business. We don't see any stop usually in this type of budget, even under recession scenarios. This is one answer. But Adcore is still small enough in order to not to be impacted too much from the current market conditions. We can still grow within the market because there's no glass ceiling for us. I think like Q3 telling that exactly story. We've been able to present far better report than our bigger companies like Google, for example, or Facebook, because we are still much smaller and it's more easy for us to continue growing even under more challenging market conditions. Okay. We have two questions regarding the buybacks. The first is, will you extend share buybacks after May of 2023, and do you expect to make more share buybacks next year? Okay. That's actually great question. I would say with regards to May 2023, we still have enough time to take a decision, so there's no point. Currently six months, there's still like six good months to go to make a decision what exactly we're gonna do in May 2023. We don't know what's gonna be the company cash position by then, and we don't know what's gonna be the share price. I think it's a bit too early for that. With regards to like what we're gonna do within 2023, then again, it's all depends on the stock price. If you believe the stock price is still undervalued and we have enough cash to support it, then we're gonna continue the buyback. We still have enough ammunition to do so, and that's probably gonna be the plan. Again, that's depend on the stock price and other market conditions. Basically, there's ability and there's willingness to continue to support the stock. Okay, we have another question that came in. With the share repurchase program, do you have a target for the share price in the short and medium term? Yeah. If it was up to me, I would say CAD 3, but again, that's like. Obviously, it's not up to me. Like, that's the stock market and there's a lot of different factors that can influence what should be the stock price or share price. Some of them are Adcore related, and some of them, unfortunately, are not really even Adcore related. As long as the company believes it's undervalued and there's an opportunity buying the shares, we're gonna continue buying shares. Ideally, for us and for shareholders, we would like to see a stock price that is a dollar and up. But again, it's not up to us, and that's not something that the company, unfortunately can influence at this point in time. We can do whatever we can do in order to, you know, like, to make use of opportunity and buy shares if we believe that are undervalued. All right. I think our last question. You announced significant client wins for Q3. Did this impact the quarter or is most of this going to impact future quarters? That's actually a very good question. I'm glad to report in the sense that that's a very little impact on Q3. Actually all the good results that we've been able to present in Q3 are almost not affected by this recent client win. Obviously, we will see much bigger impact in Q4 and moving forward into 2023 as well. Okay. Another question just came in regarding the investor relations efforts, and if you're speaking to institutional investors or any updates on analyst coverage? Actually, I just recently came back from a trip to Canada, obviously visiting our partners in Canaccord and other firms, and other investor relations meetings that I did, both in Toronto and Vancouver. I can say the following: Obviously, everybody is encouraged. You know that Adcore is doing very good under this difficult market condition. We believe that, now that the company started to give guidance, it should also be easier for analysts to start analyzing the company. But still, again, we are acting under a very difficult market condition, and that's not easy for the company now to engage. We are smart enough to know that. We continue to build the relationship. We continue to support existing partnership. I think once the market gonna start, then you will see that Adcore will be one of the first movers, and rightly so, because it's a great company, and been able to present great numbers. Okay. Any commentary on the pipeline for new accounts, regarding how many, size, timing, things to note? I'm not quite sure that I fully understand the question. Having said that, everything that we could have disclosed was already disclosed within the PR that we recently released. Okay. If there are no more incoming questions, I think that will conclude the Q&A portion of this call. Okay. Thanks, again, everyone, for joining us today. It was our pleasure to present the Q3 result and obviously answer the different question. Everyone in the team, you know, both myself, Martin, Yatir, are literally an email away, so if you have any follow-up question or anything that you would like to discuss with us, you know, feel free to do so. Let us focus now on Q4, making sure that it's gonna be even better than Q3, and we'll touch base again once we can release the Q4 numbers as well. Okay, guys. Thank you.