Welcome to CloudMD's first Investor Day. My name is Aida Begovic, and I'm the Executive Vice President of Product at CloudMD. I'll be your host today. We're coming to you live from Bay Adelaide Centre, and we're excited to be here today. I wanna take a moment to overview what you can expect from us today. We'll kick off the session with Karen Adams, our President and CEO. You'll then get an opportunity to hear from the team. They'll talk to you about how we're transforming the way individuals are receiving healthcare and provide you a deep dive into CloudMD's products and services. In these divisional segments, the leaders will be sharing market trends and competitive insights and the plans to expand the business. We'll then move on to an overview of the technologies that enable their delivery of healthcare. From there, we'll welcome Prakash Patel, our CFO, to provide his perspective to the lines of finance. Finally, we'll wrap up by hosting a Q&A with Karen and Prakash to bottom the hour. Before we get started, a little bit of housekeeping. If you're watching online, please submit your questions through chat, which you can access in the control panel. Those who have joined us live in the room, we'll take questions at the end. Following the event, we'll share the recording on our website for ease of reference. I'd also like to remind listeners that today's discussion contains certain forward-looking information, which involve inherent risks and uncertainties, and other factors that can cause actual results to differ materially from management's current expectations. Forward-looking information should not be interpreted as assurance of future performance or results. The risks related to forward-looking information are described in the company's MD&A, which is available on SEDAR. We encourage you to review the public disclosure in context of all forward-looking information that you may hear today during the call. Investors are cautioned not to place undue reliance on such forward-looking information, unless such information is considered reasonable based on the information available to management as of today. However, the company disclaims any intention or obligation to update or review any forward-looking information as a result of new information, future events, or any other, except for the exceptions required by law. Okay, so now with all of that settled in, let's jump into the day. Let's welcome Karen, our CEO, my first guest. Welcome, Karen. Thanks for joining us. Thank you, Aida. I'm really excited about today. We've been planning this Investor Day for months, and I'm excited at the opportunity to share all that's been going on over the past 12 months, and I'm particularly excited that we've got the operational leads here to talk about the programs in depth. So much has gone on at CloudMD in the last 12 months. I think it's so valuable now to bring it forward so that we can ensure that shareholders understand our value proposition, start to understand the business, and build confidence in our business. So thank you for having me. Oh, of course. So we know it's been about 13 months since you became CEO, and a lot's happened in that time frame. As many are aware, we've taken time to focus on EBITDA and our core assets that have high growth potential as well as cash flow. So for anyone new to the CloudMD story, can you provide a recap of what's happened over the last 13 months? Well, it's been a busy 13 months. I can say that. You know, the last 13 months, we've been reorganizing the company, and I have to say, I am very pleased with the progress we've been making. For those of us close to what we've been working on, it's been a lot of heavy lifting, and I know sitting on the outside, it looks like it's taken a long time, but trust me, the amount of effort that's gone into everything that we've put together has been tremendous. I'm also particularly proud of the fact that we've attracted a lot of new talent to CloudMD. A lot of people are coming from the competition and starting to take us in leadership and management roles and individual contributor roles, which tells me we're doing something pretty special when you're able to attract that talent and have people proactively coming and joining the company. So that makes me excited. We carved CAD 20 million, yeah, 20 million out of this business last year, and I think that's a huge testament to the ability of people to be able to identify synergies and pull them out. But we also saw revenue growth, and that's an exciting paradigm, and you're able to pull costs out but still see revenue growth. And I know I won't steal the team's thunder. We're going to talk about that, but that's an exciting paradigm. We also increased our gross margin 720 basis points. That is a significant amount of money that allowed us to reinvest back into how we deliver operations. Then our Adjusted EBITDA improved by CAD 12 million. These are really great KPIs and indicators, and we're starting to see them flow through the financials, which is really important. We also took an opportunity to align everybody. We had many different operating divisions. We did 15 acquisitions over eight quarters, and we aligned those businesses now to one company with diversified services. That's a lot of heavy lifting with lots of legal entities in the back end of that. Well, a lot of culture work was going on during that time. We also looked at... We did a strategic review, and the strategic review was done in order to look at the best way to deploy capital. What were the businesses that needed cash flow? What were the businesses that needed additional investment to grow? We said: How can we grow this company and use shareholder value properly to accelerate growth? We had to divest some assets. In the divestment of those assets, we were able to divest them to companies for whom that was their core competency. It's what they did. We found tremendous homes for these individual businesses. The thing I'm really happy about is that we were actually able to retain some of that key technology used to create user engagement, such as Juno, such as MyHealthAccess, very important proprietary technology platforms that you're going to hear about today, that we were able to retain and use, even though the surrounding assets of clinics and pharmacies ended up being divested. I think the last couple of things that I wanted to talk about just in that is, Kii, and you're gonna hear a lot about Kii today. Kii is the platform that brings it all together within one of our divisions. You'll remember we had three divisions, previously. We now have two. We have our health and wellness services, which is designed to support, employees and individuals, paid for by either organizations or insurers. And then we have our health and productivity solution, which is really our technology that is used by healthcare providers, but used in the treatment. And the really neat thing, to close this off, of what did we do in the last 13 months, we hired great people to run those divisions, who's responsible for everything from cost structure to position to retention to delivery. So there's one-stop accountability for both divisions. So that's a lot in 13 months. It's definitely a lot and a great summary. Thanks, Karen. So I think you kind of mentioned about seeing cost of the business, et cetera. So after we become EBITDA positive, is our strategy evolving to meet another goal, or does our strategy remain the same? Well, that's a great question. Our strategy remains the same. I think it evolves. You know, we started with our core purpose of empowering healthier living, and I think that's true. It resonates with our customers, it resonates with our users, it resonates with our employees. It's a really important concept that everybody can get behind, and as we're executing on our strategy, we have that front and center, and we think about it in everything we do. The other interesting thing about strategy is we're at an inflection point in the company. We are now a growth company. We've done a lot of the cost savings. What the inflection point for us now is, how do we create revenue to be able to accelerate our business and make it easier for us? I think the best example of that is in April 2021, we had purchased a couple of EAP companies, and those EAP companies were less than CAD 5 million in revenue. Fast forward today, CAD 30 million in revenue for mental health, and that doesn't include our recent innovation offering around medical care. What a great acceleration and deployment of growth in what I consider a very short period of time. I think the other thing I just want to point out is that while our strategy evolves, it's gonna evolve really around five principles. Those principles are gonna be ease of implementation, very important. Second is tangible services that produce ROI. I think employers are looking for ROI right now. Workflow solutions that help scale and create engagement and take the administrative burden out of what we do. Solutions like Mental Health Coach, which I personally feel very passionate about, early adopters for Sun Life, where we're able to create engagement and use products in different ways to show real return and get people returning to function. And the last one is really around our ecosystem to produce clinical outcomes. So our strategy will stay the same, but we'll be looking at evolutions in what we do. I'd be remiss not to point out people. We are a people business. We are a healthcare tech-enabled business, but we use people, and our people are the trusted advisors to manage users, to manage our clients, and we have a healthcare provider network of over 5,000 healthcare professionals who we work with every day to solve the issues that employees and individuals have. And that requires loyalty building. Why do they choose to work with us? Because of our delivery system, because we're committed to return on investment. But I will say this is an education. It's been an education to educate the healthcare providers, it's been an education to our employees, and then our customers. So I can't leave people out of the dynamic of strategy because they are critical to what we're doing. Mm-hmm. So with the strategy remaining the same, the question probably investors are wondering is what's next? Mm-hmm. So we help thousands of people every day on their healthcare issues, and I think it's really important for us to align around that core purpose. We need to align shareholders and customers around our value. I've talked for the past couple of iterations about what we call our strategic objectives, and they haven't changed. Those strategic objectives are around infrastructure. They're around cost optimization. We're not done. We have to continually look at our cost base for continuous improvement to ensure we're deploying our cash appropriately to drive revenue, growth margin, and Adjusted EBITDA. I think the other thing to be very cognizant about is growth. I keep saying it, growth, growth, growth. We're at a point where our sales team, our account managers, every day are educating our customers on these products and solutions and convincing them to switch from what they currently have to this new format. Product integration is important and human capital investment, so those don't change. What we do need to focus on is our technology and AI in order to drive scale, accelerate onboarding, and engagement of users. I think that's really an important point of where we go to from here. I think you're gonna hear from the team today around how they're using technology to engage people. You're gonna. They're gonna talk about their platform. They're gonna talk about their team. Personally, I'm very excited about the remote patient monitoring that Nathan's gonna be talking about and the momentum we have in the U.S. So that's really what's next for CloudMD, is taking these platforms, transforming the way that people receive healthcare. And I think the last thing I'll comment on this is: How do we empower our team? Healthcare is an evolution.... Healthcare is a constantly investment in the way we do things to solve issues, and we hear about it every day from researchers and scientists. So we need to empower the team to think of things like glucose monitoring, like we're thinking about with our remote patient monitoring. Smoking cessation for monitoring and supporting individuals. So I see us using our platform of our 5,000 healthcare specialists, our employees, and our customers to better inform the evolution of our products and services. Doesn't take a lot of money to do that. It takes listening and deployment of the people that we have. Yeah, I couldn't agree more. I think we have a fabulous provider network. We have a great user base, and it's about getting that feedback back and doing those ongoing cycles and really listening to what the end users and providers are telling us. Great summary. Just as employees and customers have a choice in engaging with CloudMD, so do our shareholders. These economic times make it—investing and sticking with companies pretty tough. Given the current environment, why should a shareholder choose to invest? Well, I just want to comment on the economic times, because, you know, one of the really neat things about our business, and I've been in this business for 20+ years, when the economy's tough, we're relied on even more. People are struggling with financial decisions. They're struggling with, you know, university for kids, and in fact, their mortgage payments are doubling. Whatever the case may be, we become even more important, both from an employer perspective. The premise of CloudMD is risk management. That's what we do. We do help risk management. I think for us, why should shareholders invest in CloudMD? We do what we say we're gonna do. I think we've proven over the last 13 months, we set out a plan, we delivered on the plan, and I believe that that is the single most important thing. We've created financial stability through targeting cost optimization. I think Prakash is gonna talk about this, is really there's still more work to do in our growth margin and improving our growth margin to drive more available funding to help support our revenue growth and to produce better. The market is ready. There's jobs in the market. The spend is billions of dollars that employers are spending. We know employers are saying all these programs are siloed. Like, imagine CloudMD, where we could go to any organization, and we're here, as you mentioned, at the Bay Adelaide Centre in downtown Toronto. There are tons of organizations that have seven, eight, nine vendors they're dealing with and trying to get them aligned to solving the employee health issue. We can do it all with one organization. I think the other thing I would say is, you know, we have a long-term customer base, and those customers have been with us a long time. We're going to drive long-term value out of those customers. It's taking time to educate them, it's taking time to onboard them, but those are our customer base, 7,000 customers, that we're going to focus on. Our growth strategy, we're going to deliver mid- to high double-digit growth next year, and the team has the plan to execute on that, and you're going to hear that today. And we're going to continue to improve on our growth margin and finally expansion, geographic expansion. There are some really exciting things coming up in different provinces where we're expanding our operations. And I guess finally, we have a solid base of reoccurring, recurring revenues, which, you know, we're particularly proud of, because that's something you can depend on each month, each quarter. And I think that is what's going to unlock the value for shareholders, is the EBITDA, the growth margin, the revenue. Finally, I would say Prakash has a lot more to add to all of this in his section. My message is: we are the company that has the experience in solving health issues. We understand the workplace. We understand the issues that the individuals have. We've chosen to focus in one division on the workplace because we're spending so much money, but we understand the issues individuals have, and we've been proven to be able to solve them. So we're at our growth stage, which creates value for shareholders. I hope that was helpful. Very, I think. Thanks for sharing the vision and the opportunity for both customers and shareholders. I think it's time for us to directly hear from the team about all the exciting things going on in the business. We'll hear about the products and services you referenced in your opening remarks and some of the great things in store for the year ahead. I know you have a personal passion for health and wellness, so why don't you introduce the next segment? Sure. Thank you, Aida. I'd be happy to. So every day, 1,000s of people depend on CloudMD for their health and wellness. In this next segment, we're really going to dive deep into our strategy and, you know, how do we couple technology to enable healthcare-supporting individuals? We're going to see platforms. We're going to see the technology come to life. If you've been following our news, you'll have... We've talked about the remote patient monitoring in the United States. Nathan's going to take us through that exciting program, but not only through the exciting program, why is CloudMD so being considered the, at the forefront when there's so many choices in the U.S.? So I'm, I'm looking forward to that. And then Julia's going to take us through technology and how are we thinking about AI and using technology to create synergistic waves of workflows, but also to really create engagement and show ROI and data monetization. So all that to say, this is the real meat of our organization. I'm excited that they're here to share it with the investors, and, I look forward to being listening, and thank you for being our moderator today. Me too. So I'm going to welcome Bram to the stage. Thank you, Bram. Bram is our Executive Vice President and our Commercial Lead for the Health and Wellness Services division. Welcome, Bram. Great to be here. Thank you. Welcome. I guess let's just hop in. Can you provide listeners with an overview of health and wellness services and a little bit about the business and where you join CloudMD? Absolutely. I'm excited to share more about the vision, more about our plan forward. Our health and wellness services is really about one service, one place where you can get health navigation and health risk management all in one. The breadth of services covers a whole range of mental health, access, things that you would know as EAP, iCBT, Mental Health Coach, and of course, all the medical supports that we provide. I'm confident that we can support organizations that are supporting organizations, helping them with mild, moderate, and chronic care issues, and helping them to resolve all of that. I've worked in the EAP field for a number of years when it was first emerging as a frontline clinician and supporting companies and insurers thinking about how to launch and implement the program. I've spent a chunk of my career in an adjacent space focused on attraction, retention, and engagement of employees. I understand the real impact that it has when employees are at work, they're the best they can be, they're showing up, and how that impacts the organization from a productivity perspective, from an engagement, from a brand perspective. I'm excited to be at CloudMD because I know we've got a differentiated story, and I know that we can really make a difference in the market. When I think about our health and wellness business, it really breaks down to three key buckets, three key categories, if you will. Navigation and health services, which is what... Again, what you would know as EAP, iCBT, Mental Health Coach, virtual care. Our fastest growing area of our business represents a little over a third of our total revenue. Occupational health line, which is where we have doctors and nurses on site, so disability management, workers' comp services, and of course, occupational health represents about 20% of our total business. And then finally, the assessment space, where we have over, as Karen mentioned, over 5,000 healthcare practitioners, where they provide diagnosis, treatment plan, meet with individuals, and that represents about a little over 40% of our total. Insurers and employers are our direct customers there. Awesome. Thanks, Bram. So you listed an extensive list of services, and products that we offer through a lot of our assets that have been acquired, and there are many across the healthcare value chain, I guess. And you touched upon the revenue of those three service lines that you mentioned. What we know is that many of these programs have been around for a long time, and investors may be noticing consolidation in the market, where having a single asset or service is no longer serving its purpose because it's potentially seen as siloed prevention or care. And as you mentioned, we're seeing this need to flip traditional models around and manage the health and well-being of individuals across the care continuum. At CloudMD, we believe it's an interesting opportunity to have services available through a single source or a digital front door, so to say, and we deliver that through Kii. Can you talk to us a little bit about Kii and the value drivers in health and wellness and why navigation is at a forefront? Yeah, I think, I think I'm excited about Kii because, you know, it's a one-stop shop for people. I know we've got a video for you. We're working through a user persona, so I'll, I'll leave the detail of that out, but it really is about simplicity and access. And I think what's really shifted as a trend is that employers are... They recognize, especially the more sophisticated ones, they recognize the need to provide support to employees. That the cost for benefits, the cost for mental health, the implication of not having people healthy and at work, as part of their, their productivity, as part of their cost management, as part of their ability to be an employer of choice and attract the best people, is greatly impacting their ability to be successful. So employers are starting to invest differently in services and solutions, and in the past, it's been a siloed service. They've got an EAP here, and they've got massage therapy over there, and people don't connect the dots, and they treat a symptom instead of the root cause. So we've really seen a shift in that. When I think about Kii, I think about three key differentiators there. One is the nurse navigator-led approach. So it's accessing the service, it's having a nurse navigator, a healthcare professional, support everything that they need to do to take care of their full needs across the full spectrum. That. So there's credibility, there's service excellence, there's expertise in how they do that. It's a one-stop shop. It's really easy for people to access it, all the healthcare support that they need, mental health, physical health, medical health, in one place. Nurse-led navigation model, so people can get that all at once versus point solution, siloed solution, which just aren't cutting it anymore in today's world. Finally, it's about user experience, both for the buyer and the end user. So it's really easy to access and use. You get the help you need. It's easy for the buyer to launch, to implement, and to roll out, get utilization, get data back. Awesome. So I know firsthand that Cloud takes measurement seriously and be highly outcome-focused. Can you talk to us a little bit about the outcomes we produce and return on investment? Yeah. It's always about return on investment and how we can demonstrate to our customers that our services, the money that they're spending, really does make a difference. I'm excited with some of the measures we have. I'll share a few of them with you. Our healthcare navigation service has shown to save 248 days on the wait times for specialists and diagnostic treatment, imaging, et cetera. Our iCBT program, so completion, full completion of the program, has a 19 x faster return to work for individuals who are already off on work. There's two published reports out there from this year that show that our iCBT program resulted in an 86% reduction in symptoms for anxiety and depression. Our Mental Health Coach, Karen referenced that. I'm really excited about that as well. We've seen a 90% improvement in symptoms. Finally, when you look at organizations who have implemented a broader mental health approach, not just an EAP or employee family assistance, but broader mental health, there is a five to one return on investment. Every $1 invested returns $5 back to the organization. When I look at things like that, I know Canadian employers are spending CAD 6.3 billion in lost productivity, work productivity. Those are the reasons why employers are saying, "We need to do something different," and our ROI measures can really help them articulate that. I think that really resonates, 'cause outcomes drive impact, right? And so it's not just the intention of the spirit, but measurement gets results, so that's great. Can you talk a little bit about the financial model or elaborate about the mix of fee for service or subscription services and some of the distribution partners you might have? Absolutely. So we have a mix of how, depending on the service, of how employers pay. So we've got for the majority or all of our mental health services, it's a per employee, per month basis. So what we love about this is it's a recurring business. You can count on the revenue on a monthly, quarterly basis. You can budget for that. You can forecast for that. It's recurring and it's renewable. We've got our direct to consumer, so we've got some actual clinics in Toronto, and we're expanding that as well, where you can call, email, request an appointment, get an appointment same day, next day for in-person counseling. You can do that virtually as well, and that's the commercial model of that is you go for your appointment, you literally pay as you're walking out the door. There's no delay in that. Then finally, we have a lot of parts of our business that's on a per case basis. So you have a per case for disability management, for workers' compensation, for our assessment business, and those are invoiced to the customer at the end of each month on a per case basis. Our average contract length depends on the business again, but assessment, which is over 40% of our total business, those are four- to five-year contract lengths going in. Our mental health business is two- to three-year contracts going in. There's nothing shorter than that. Thanks, Bram. Can we just shift gears a little bit and, maybe you can help us understand the plan of action over the next 12 months and what you're excited about? Yeah. There's a lot of things that I'm excited about. Plan of action, Karen. Karen referenced a few of them around our geo expansion across Canada. So, you know, our assessment business is significant. We will be growing that in two... across the country, but in two provinces in particular, which is Quebec and Alberta. We already have salespeople and account management people in those provinces. We already have significant brand name customers in those provinces, so I'm excited about that. And of course, we've got a strong assessment business that we can leverage all of that expertise and subject matter knowledge. So that's a big part of it. Cross-selling, increasing attach rates. We put a lot of energy into that as well. We've seen a nice bump in our attach rates with our existing customer base. We will continue to focus on that. Companies do not want silos anymore. They're looking for broader healthcare, broader support across the life cycle, and so the opportunity to upsell and cross-sell is significant for us. Of course, we've seen multi-product sales, so net new customers going in are more often buying multiple solutions versus just single point solutions on the way in. Continue to focus on that and be able to tell a broader story in the market about all the great services that we offer and how we can support them across the life cycle. Our sales team, continue to expand the sales team, continue to focus on growing our pipeline, reducing the cycle time, increasing the velocity of sales. Those are the kinds of things we're putting a lot of time and energy into. There was an event not too long ago that Karen presented at, a room full of CHROs and chief people officers. The question was asked in the survey, 86% of the CHROs put their hand up and said, "If you could help us find a different way, a better way of supporting people through mental health, because EAPs are not... They're good, but they're not doing everything we need to do, we'd sign up for that conversation." So we know there's demand there. That's what I'm really excited about in terms of building our plan out. The good news is I'm responsible for, in our health and wellness services business, delivery, operations, all the commercial parts of new business, retention, cross-selling. So I get to wrap my arms around all that and, and really be the one person who can focus on that and align it together. That's awesome. You're going to get all those puzzle pieces together, and it's very exciting. You mentioned cross-sells, you mentioned operations, you mentioned all of that. How do you measure, and more specifically for this audience, how should investors measure the success of your plan over the next couple of years? Yeah. So it's always about measurement and data. So we, of course, have our measurements in place, and we are looking at, you know, the percentage of cross-sell, the percentage of multi-product clients going in. I mentioned that those have both gone up. We've got 70,000 existing customers today. That's a wonderful, big, big pool to fish into, to be able to go after those customers. We're bringing in, this year, 60 net new customers a month. Those are the kinds of conversations we're going to have around: How can we help you across the life cycle? So those are some of the measures that we look at. You know, our attach rates have gone up from 30% to 32%. We'll continue to measure those. Our pipeline continues to grow, obviously, a key measurement.... Looking at the within the pipeline and breaking that down for those customers that are at, you know, 50% or greater in likelihood, that we've been shortlisted, that we're, that we're one of two. Those are some of the standard measures. As well, the top brokers that we work with, there's 150 key brokers that we work with across Canada today, where we've got significant relationships and partnerships with. Those are the ones that we're starting with and focusing on how can we have greater penetration with their customers, not just siloed services, but more broadly. And then, of course, it's, you know, making sure that the contract value, we are seeing contract value continue to increase and, you know, average contract value on the way in, so we are going after bigger customers. I have to say, this has been so exciting to be able to provide a service that has so much impact on both people and the organization. So it's really impactful to hear this and just a great part of to be a part of this journey, I think, for all of us that are from CloudMD. Thanks for the summary, Bram, of Health and Wellness Services. As you've highlighted, we know that there's attractive profit for this, combined with the key areas of focus that you'll be focusing on over the next 12 months, really kind of instills, within me anyway, the confidence that CloudMD will continue to gain scale. So thanks so much for joining us and your insightful commentary, and I now invite Nathan Lane up to take it from here. My pleasure. Thank you. Thank you. Welcome, Nathan. Thanks, Aida. We appreciate you being here today- Thanks. -and representing the fast and health, fast-growing health and productivity solutions business. To set the stage for this segment, we know that the macro trends of chronic disease is forcing responses across the industry, meaning more people are trying to solve for the, and address the chronic disease issues that are at large and a leading cause of disability and death in, in the U.S., particularly where you're from. As you know, I don't have to tell you, but we have products that support individuals with chronic conditions and providers also who manage these patients. With that in mind, can you give us an overview of the Health and Productivity Solutions business? Sure. Thanks, Aida. So HPS, in general terms, provides software and services to organizations to better help them manage and care for their respective patient populations. So whether that's using our health education and engagement platform, that provides an incredible amount of vetted, peer-reviewed content, or through our Healthy Life app, that provides the mobile solution that also has a connected portal. That's what we're currently using to deliver the RPM service in the U.S. today. For those of us that don't know, can you give us an overview of what remote patient monitoring is and your Healthy Life app? Absolutely. So RPM, specifically in the U.S., consists of two primary components. One of them is data acquisition. So this is around capturing vital signs or biometrics, such as blood pressure, heart rate, blood oxygen levels, and that sort of thing. The other component is patient interaction. Patient interaction is direct communications with the patient, so this is a care provider speaking to the patient directly on the telephone or reviewing their chart information, or possibly even monitoring their care plan that's been designated by their provider. So tell us a little bit about what was the genesis of getting into this business, remote patient monitoring, that is? So the origin of the business, it may seem like this is something we decided to do overnight and kind of threw our hat in the ring, but the actual fact of the matter is, this is a modeling that's taken place over a couple different iterations of planning and design over a couple years. Obviously, the market for remote patient monitoring, specifically in the U.S., is huge. Payers are understanding that there's a value to this type of service, and so they're willing to pay, so that's why it's attractive for us to be in this market. Fortunately for us, we were able to leverage existing technologies in the organization, so a lot of those iterations of development and design were lower lift from an RPM -- excuse me, from an R&D perspective. Thanks, Nathan. So remote patient monitoring is a tool to support chronic conditions like diabetes, heart disease, cancer, and many more, and you have plenty of experience to support market entry. Can you get into a little bit about the value proposition for remote patient monitoring? So the value proposition for RPM, and just to shorten things down, I'm gonna start referring to it just RPM now. Think of it in terms of this: healthcare organizations, specifically payers, are much more willing to spend $1 today if it means that they're gonna save $5 or $10 or more tomorrow. I've read certain studies that take that upwards of 13 or more per patient. So at the end of the day, the whole concept behind all of this, or the program, is to keep patients out of the hospital, keep them out of the emergency room, emergency department, just help them overall provide better management of their chronic illness. Thanks, Nathan. So as patients, hospitals, clinics, they all cope with the cost of chronic disease that is constantly rising, especially with drug costs, RPM seems like a real opportunity to drive lower care costs and improve patient outcomes, which you just said. But can you talk to us a little bit about the business model? So there's a few different business models. Sort of the basic primary, just about every RPM company in the United States has a business model of, it's more of a revenue share. So there's about four pretty basic CPT, Current Procedural Terminology, codes. Those are the codes that are used for billing in the U.S. for insurance companies. So we provide the services that allow them to bill those specific codes, and then there's basically a revenue share in between them. In this model, we take home about 40% margin in these deals with about 15%-20% EBITDA levels. Again, that's the primary business model. Other models include targeted patient cohorts, where we're working with home health organizations, where they're monitoring a subset of the population, and we're licensing the technology primarily for data aggregation and reporting. A third model is population health. So this is where you have a health plan that may have tens or hundreds of thousands of patients, and we're going to license the technology across the board. This pricing is much more similar to an EAP model, where it's lower, but it's over a much wider set of the population. Final model that we're seeing today, where there's some interest, are sort of single-use applications. So with life insurance policies, this can be used to sort of take a snapshot of an individual, to be used in the underwriting process for these policies. So I think a lot of us are familiar with wearable technologies today, or even single point solutions that kind of suggest there being some format of monitoring by tracking vitals, movements, et cetera. Can you explain to us how the cloud solution is different? Sure. So obviously, you know, device agnostic, it's built on an interoperability platform. I think from a market perspective, what differentiates us from a lot of the other RPM companies out there is we have a mix of technology and service. So if there's an entity that has their own nurse care team, we can just license the technology, so the mobile app and the portal, or we can do both. We also have a mix of device and device-less technologies. So for those populations that have users that are more savvy with smartphones, they can use the smartphone app to take their biometrics, or we have connected devices, if not. There also seems to be a lot of crossover in what you talked about between remote patient monitoring and what we're doing within the health and wellness services division at Bram's. Is this true? And if yes, can you speak to the technology synergies between the divisions? Yeah, I think there's a ton of similarities between what's going on in HWS in Canada and what we're trying to accomplish with RPM in the U.S. I think with RPM in the U.S., in HWS, it's more a combination of reactive and proactive care, whereas RPM programs historically just are reactive care. Patients have already been diagnosed with a chronic condition. The program's instituted to help manage that condition from getting worse. There are a ton of similarities. I think really, when you get down to it, the only differences between the two models, there's no real philosophical differences. It's more based off of the go-to-market strategy and entry point into the market. From the technology standpoint, second part of your question, from a technology lens, we do intend to get RPM in Canada and include that into the Kii platform. And we've already been utilizing some of the HWS or Canadian technology in our own app here in the U.S., in the RPM program, for example, the education. And we'll also be building in the various behavioral health services as well, like health coaching and guided iCBT. Okay. Can you give investors a preview about what you're excited about as it relates to your plans for the next 12 months in the division office? So I think over the next 12 months, what we really want to focus on are adding additional services into our Healthy Life app and program, the RPM program in general, just to make it more attractive outside of just the single lane RPM program. What I just mentioned, including those mental health benefits like health coaching and guided iCBT. This is going to be a clear differentiator for us in this market space. 70% of people that have chronic conditions, like diabetes, hypertension, also suffer from some form of mental illness. Almost every, if not every, RPM program today only focuses on the physical side. They don't focus on the mental side. So when we include these pieces in our solution, we'll actually have a holistic solution to solve both of these issues. It's like a reciprocal relationship with physical health- Exactly. mental health, et cetera. Within the target. That's fabulous. Can you tell us a little bit about your go-to-market strategy and how we'll measure success? More specifically, what investors should track to measure performance. Our go-to-market strategy is currently and will continue to be bringing on high-performing, low to no fixed cost distributor networks. This is going to help us increase our pipeline exponentially. It's going to help us get into areas more quickly of the U.S. that we wouldn't otherwise be able to get into. These distributors have relationships into the organizations that we want to be in, these health systems, these health plans. We get into those organizations more quickly with an established relationship. And as you can imagine, that would help to strengthen the sales cycle somebody. From a metric standpoint, with that being said, since it is a new program that we're really trying to focus on building, annual contract value is something we're going to be really looking at. How many deals did we close over the past quarter, over the past six months? And what's our pipeline looking at? Do we have a healthy pipeline growth, and are we executing on the deals in that pipeline? Thank you, Nathan. Thank you. Appreciate all of your insight that you've brought today. So now that we've heard from both Nathan and Bram, our two EVPs of both divisions, I think it's fitting to showcase how we're bringing these care journeys together and how these services come to life in a short delivery, in a short video of how we deliver care. So why don't we turn it over to the video? Can't find a family doctor or get a timely appointment with the one they have. Each week, 500,000 Canadians look to convert to another group. Canadian employers spend CAD 17 billion on productivity per year due to workers calling in sick as a result of mental health issues. Traditional healthcare isn't delivering on this promise. With fragmenting answers, disconnected providers, and multiple points of contact, we're turning into a reactive, transactional care that addresses only symptoms issues. Customers aren't satisfied with the status quo. We really desire to be centered by care from the center health plan, yet we're probably unresolved. Say hello to Kii, powered by CloudMD. We can trust Kii as it offers a comprehensive, connected experience with faster access to better care. It provides users with choice and care that is tailored to their personal needs through the success of a dedicated care team. A team nurse helps you navigate care options to get the right care easier and faster. It builds trusted relationships to promote proactive health management.... Kii is a unique way to empower users and their dependents with access to a full spectrum of physical and mental health services through a single platform. Kii makes it easy to get the right support they need, when they need it. So let us show you what the Kii experience is like for Amanda, for instance. Amanda has been dealing with commonly experienced challenges impacting her mental health, physical health, and overall well-being. Amanda feels drained and unwell, physically and mentally. She needs to seek help, but she isn't sure where or how to start or what type of care she needs. She tries to contact her GP, but the earliest available appointment is three weeks away, and she doesn't want to waste time in her busy workday waiting for hours like the last time. Not to mention, the last time she did, she didn't get anywhere with addressing her issues and had to follow up repeatedly. To date, she has spent 14 days away from work dealing with these issues and trying to seek help. She's frustrated. Her symptoms are worsening, and she is considering giving up on seeking help. With Kii, Amanda can access care in a new, healthier way, with 24/7 access, personalized care plans, and health navigation with an experienced care team. Kii will help Amanda find the right care for her needs. She can self-start or connect with a nurse through phone or online chat. The Kii nurse starts by listening and conducting an assessment of Amanda's needs and helps her understand services available to her. The nurse develops a care plan to identify Kii services that are most appropriate for her, addressing Amanda's overall well-being, physical and mental. The care plan offers Amanda choice in care based on her needs and preferences. To support her mental health and tackle work stress and relationship issues, Amanda was shown that counseling is Amanda's preferred speaking with an experienced therapist through Kii's extensive provider network. Alternatively, Amanda can start with internet cognitive behavioral therapy, or iCBT, if she prefers to develop coping skills through reading and exercises with a therapist through Hyperchange. The nurse also recommends financial counseling, so Amanda can understand her financial needs and budget appropriately. Medical care informs Amanda of telepathic and by telephone, when she needs medical advice, professional referral, lab work or diagnostics, or a prescription. Depending on Amanda's preference, the nurse can help Amanda get started on any or all of the care options instantly. The nurse will schedule a follow-up call with Amanda in a couple of weeks to check in on how she's doing and whether she needs any additional support. In addition to Kii services, the nurse also identifies Kii tax and dollar savings or benefit situations, specific ways to save and broadly extend the health benefits available to Amanda through her employer. In the U.S., CloudMD is also tapped by providers and health systems to develop remote patient monitoring and chronic condition management services, CCM. These services work and providers. They're enabling providers to proactively monitor and collect medical and health data technology. In Kii, 51 use remote patient monitoring tools like 755, more than 20% of the population. For every non-heart patient monitored, the average annual revenue per provider using remote patient monitoring amounts to $189,000, which is a significant revenue share for CloudMD. We recognize that most of a patient's life occurs outside the doctor's office. RPM provides an effective way for providers to help patients monitor and manage their health from the home, not today from patient status, symptoms, and signs. By promoting proactive care delivery and illness management or timely intervention, providers can identify trends or activate the patient's care path or plan to provide an improved patient outcome, including more for chronic conditions. For example, here's Amanda, with the team to manage depression by examining reducing blood pressure and other conditions are currently very low. Probably more. Kii provides providers care management with the ability to integrate with an existing health system. CloudMD is empowering patients, providers, and organizations with a new transformed experience to healthcare. So we hope you enjoyed the video. I'm just going to pause and take a few moments to speak about the product's strategic priorities aimed to drive business growth. We have four pillars of focus, as you can see on the left-hand side. Let's start with accelerate partner integration. We're going to aim to leverage our API strategy to support evolving integration capabilities, and we're going to do this through new integration standards like SSO. We'll continue to build benefits integration into Kii, and we're going to remove or aim to remove the friction that currently exists through existing paywalls by trying to make that frictionless for users. We believe this will increase market and user adoption. We'll also expand our digital service capabilities through backend user record capabilities that are gonna be proprietary to ourselves, which we're confident will result in reduced operational hardships and reduced existing OpEx costs. We'll expand our self-service broker portal, which will reduce the length of time to launch a customer from 15 days-30 days to hopefully on demand for small to midsize businesses. This will allow us to build for scalability and realize revenue faster. In harnessing meaningful innovation, like Karen mentioned earlier, we'll explore the use of smart nurses and AI chatbots to automate specific needs at time of intake by leveraging this AI to craft our own recommendation engine. I think now I can welcome. So that's just a synopsis of what we're gonna do on the product side. And now, welcome, Dhruv. You're the Chief Technology Officer and Chief Security Officer here at CloudMD. There's a lot going on for you and your team as a shared service, so can you tell us a little bit about your vision for the team? Well, first of all, thank you for having me here. Having worked for a number of multinational companies, in multiple continents, I'm super excited to share my experience as an expertise with the team members here. And the intent is to leverage, and we are actually working towards it, and delivering, leverage proven application stacks that we've acquired over the period of eight quarters that Karen mentioned. And the interesting thing is, Aida did mention something about, you know, putting the puzzle blocks, and I see it as Lego blocks because we can deliver anything and everything, and we are moving towards that. The other area we are curating is the data that we derive from the unified Kii platform, which allows us to have greater insight and create sticky with the customers and the clients, because we have this whole 360 view. In addition to that, my friend Nathan mentioned about RPM, and I personally find that very, very exciting because it allows us to integrate IoT devices, mobile devices into our ecosystem and deliver nuanced services to our customers and clients. Thanks, Dhruv. So you've been in the role since April of 2023. A lot of the work we did in the past, in our early days, let's say, was to set up the organization to be able to scale. So in addition to the more traditional aspects of IT that, you know, you take care of that are under your purview, such as reducing costs, creating efficiencies, can you talk about some of the work you're charting your course on? Absolutely. So traditionally, the idea of what tech was, was to be a support function. Today, the world has changed. Tech is in the driver's seat. We are actually driving business value. And how we are driving business value and what we are doing at CloudMD is focus on data, data monetization, that my CEO, Karen, just mentioned. You know, creating a seamless integrated data warehouse where we are pouring in information from technologies, such as IoT devices, technologies, and application stacks such as, EFAP, nurse care navigation, iCBT, iAssess, which is an assessment platform. In addition to that, we are also driving operational efficiency, which is leveraging AI to reduce the toil that nurses have to go through. Kii video that you just recently saw was about how key nurses review and create a specific nuanced pattern for a client. We are actually working towards moving that into AI platform. We are also working on exposing APIs, you know, health-specific APIs such as, HL7 and FHIR, to create seamless and quick and high-velocity integrations with our clients with self-service. That also creates, industry-specific FHIR and API strategy, but also provides a greater degree of security that is at front of mind of every customer and our, and our clients. And, you know, I'm also very excited about the integration of devices such as CGM devices, continuous glucose monitoring devices, in future with our Healthy Life application, and at some point in time, with e-integration also. There's a lot there. There's the API bucket, there's the RPM bucket, there's the data monetization bucket. So I think just give us a little bit of a sense of what do you think personally are the biggest opportunities for CloudMD in the next, let's say, 12 months? There are a lot of opportunities, but, the immediate one, which we are working on, is creating, infrastructure efficiency. As we mentioned, we have acquired a number of organizations within a relatively short period of time, and that has given us a large infrastructure stack. We have begun that journey, and we are working towards realizing a significant amount of savings, by the end of 2023, which will then be fed into delivering better quality products and highly capable products and nuanced AI capabilities. Oh, thanks, Dhruv. So what are customers' biggest areas of concern or focus when they're evaluating the technology of healthcare providers? Apart from the fact that health is primary for every individual, one of the other areas, which is very, very personal, is security and privacy. We at CloudMD are focused from the very beginning and get-go on information security and privacy. I'm fortunate enough not only to think about this just by myself, but have support from my entire executive leadership team here to focus on security, privacy, and protection of people's data, and anonymizing- ... data insights, which will allow us to create great data monetization capabilities. Thanks, Dhruv. We're fairly lucky because you're a privacy and security expert in the field, so we feel quite secure in that area. Thanks for sharing your vision with us. I'm looking into your strategic priorities. We're really happy to hear those. We're going to now shift our focus, and I'd like to welcome Prakash Patel, our CFO, CloudMD, so we can talk a little bit about the financials and the numbers that everyone's excited to hear about. Welcome, Prakash. Can you tell us about the next chapter of CloudMD, what it's gonna bring? Sure. So I think I'd like to talk about excitement first. You know, what am I really excited about? I think CloudMD is really about the story that, that Karen highlighted and what the past was looking like, and, and really what lies ahead is what Bram and, and Nathan both described. I think the organization has done a lot of heavy lifting, and, really from where we sit, and what I'll describe in terms of the numbers and what lies ahead is really where the excitement is. I can get into the numbers and, and share a little bit more of where we... What we've accomplished, given all that's what's happened. Really over the past 12 months, I want to say, the team has done a phenomenal job. This leadership team has focused on cutting CAD 20 million out of our cost base, but at the same time, we didn't lose the fact that we wanted to grow the business. So if you look at our last 12 months, gross margin increased by 720 basis points. We've increased EBITDA by CAD 2.5 million, and our operating cash flow has increased by CAD 3.2 million. Now, doing this in a vacuum is an effort in itself, but to do that while growing the business requires acute focus, really understand where every dollar is spent and how returns are made. Really, I think the leadership team is really poised for what's coming up. Thanks, Prakash. So this is the current state of financials? That's right. Okay. What are you excited about? What's next? So I think, I think what we really want to focus on is, you know, I think leveraging what we've done and thinking about how do we capitalize on the opportunities that are ahead. So I'll highlight a little bit about what we've done and how we've gotten to where we've gotten to. We focused on four key areas. One of them was sustainable growth, margin expansion, along with prudent cash management and a disciplined capital allocation. From a sustainable growth standpoint, we really wanted to focus on what's going to provide CloudMD with the most long-term benefit. We wanted to focus on things that will be longer term in nature, as opposed to in the previous world, just focusing on the top line revenue number and not worrying about what does that mean from a profitability standpoint. So from our leadership focus, we really wanted to think about every single customer, and does, does it really have accretive value? And so those required hard conversations with our customers, right? Really making sure that every single customer was adding to the bottom line for us, and they were getting the services and everything that they need on their side. We also reviewed all of our key contracts to ensure that they were accretive, and at the same time, we set out to automate and ensure that we were improving the user experience at the same time. The other thing that we focused on was margin and margin expansion and prudent cash management. We, as I said earlier, we took out CAD 20 million from the business, but on the revenue side, we continued to optimize our products to make sure that they were efficiently pushing a higher margin and also ensuring that they were delivering on what our customers needed. Our product offering was, was unbeknownst or, or unfamiliar with those that operated with CloudMD before we consolidated the platforms. And lastly, we had the hard decision to really understand how we were allocating our capital across the business, and so we made some really tough decisions to divest all of our non-core assets that we didn't think were going to be with us in the long term, so Benchmark Systems. These divestments allowed us to really focus on what we want to do going forward. A lot of moving parts to drive towards this balanced result that you're aiming for and you presented to us. Shifting gears now, and after everything we've heard, can you summarize to investors why they should include CloudMD in their investor portfolio? Absolutely. I think there's a couple of things, right? As we focus on what lies ahead, like reinvesting in our business, continue to improve profitability, and optimizing our capital base. I think CloudMD offers a very unique value proposition. CloudMD has a diversified, evidence-based revenue that's recurring in nature, as Graham and Nathan mentioned before. We have a solid pipeline in two of our key areas of business that constantly convert, and we have a high degree of positivity in that space. I think personally, if I was to describe what our moat is and what we're really good at, we have a strong combination of our healthcare provider network and technology, and we bring those two things together using our applications, and it provides efficiency, automation, and as Dhruv described it, it holds together the data behind it, which will allow us to monetize that in the future. I think finally, we're making the right decisions to capitalize on positive market trends, to really drive value at attractive... at an attractive financial profile. It's really, we're doing that on an every day basis. It's what keeps the leadership team communicating on a daily basis, and we do that every single day. Awesome. I'm gonna go back one, because you had a great slide up there, and I just, I think I skipped it, so sorry for that. No, problem. We'll just double-click on some of the strategic priorities that you're focusing on, because I think that really- Yeah. gives a great summary as well. So to highlight here, these are the finance strategic priorities, or the things that, you know, keep me up at night, at the very least. I think there's a fine balance given of what all the things that we've accomplished and what do we want to do? So we want to reinvest to grow our business. And as our cash flow starts freeing up, I think one of the main things we want to do is really drive growth in the areas where we think we have an opportunity. So supporting channel expansion into new geographies like Quebec, where our product differentiation is proving to be positive for our customers. We want to ensure that our pricing model is effective across our customer profiles, large, medium, small, making sure that, as I mentioned earlier, each customer adds value to the organization. And then finally, we want to make sure that our forecast for our cash flow supports the execution of our backlog. We want to ensure that we continue to improve our profitability. This has been a conversation that Karen and I have with everyone that we speak to. Are we going to lose sight of that profitability that we've really pushed forward? And I think we have a tremendous opportunity, as Dhruv has mentioned. We really want to address what I call our integration debt. We've brought together a hybrid of businesses. We need to align our people, processes, and technologies in the back end to ensure that we're delivering. We want to make sure that it's efficient and it's cost effective. And then, of course, we want to continue to emphasize where do we spend our money and how do we get those returns? And then finally, optimizing our capital structure. I think that's top of mind for us as we ensure, as we move forward and we're cash flow positive, we want to restructure and pay down our debt using cash from operations. To do that, we're looking at all sources of capital, and we're also trying to secure non-dilutive sources of capital to secure growth, be it government grants, programs that the governments are running to support expansion into the U.S.. We're looking at all of those strategies, and I think all of those things, what we've done, what we're focused on in the future, how I've described our value proposition and how Nathan, Graham, Dhruv, and Karen have described how we've brought this business together, all drive value to the shareholders. Yeah, I think I can echo that sentiment in terms of our leadership knowing just how important being laser focused on profitability and getting to being cash flow positive. This, coupled with the exciting growth opportunities, is really important for ourselves and shareholders, with the balance of it being our North Star. Do you have any final comments or, like, any final remarks for the investors here today? No, I think, you know, the story is exciting, right? It's a matter of looking back and understanding how much has been done in a short amount of time, and really understanding what is the opportunity that lies ahead. There's a great data element here. There's a great opportunity in a growing market that allows us an ability to capitalize on that, given that our product differentiation is so robust, and our willingness to deliver on that value for our customers is that value prop. Thanks, Prakash. We're going to take a minute and invite Karen back up, and we can take some questions from investors and shareholders. I will need a minute to see if a few have come in. I think they have online, so bear with me for a second. Okay, questions from online. They've come in. Let's start with the first question, which is: What do you need to add still to make the EHS offering a complete ecosystem? Do you think we have all the pieces? We have to start by not calling it EHS and call it HWS. That was totally me reading verbatim. I apologize. We... You know, it's like I talked about. It's about understanding the ecosystem of what is wrong with people, what do they need support in, and adding those pieces. As far as acquiring other assets to help round it out, I think we can just do it organically inside the organization. We have the 5,000 healthcare provider network who are out there every day looking at trends. We were just at an off-site last week, and we had Dr. Solzberg join us, who is a very reputable, occupational health doctor, who works with a ton of our clients, and he was sharing some of the insights, around risk management and around vaccines. We feel like we've got all the assets we need. We're just adding some competencies and some support to the platform in how we deliver around specific chronic diseases, I would say. Thank you, Karen. The next question that's come in is: How does Dialogue being purchased by Sun Life impact CloudMD? I'll take that one. It doesn't. I mean, I think this is a large market space. I think Graham alluded to it. It's a billion-dollar market space, so we are a very small percentage of that billion-dollar market space. So for us, we're narrow focused on what we do, which is... There are similarities in a lot of our competitors with what we do, but there's also a lot of difference in that we have such an expansive in the occupational health and the disability, the assessment business. So for us, it's similar but different. I also think that there's a lot of market consolidation going on right now, and product consolidation going on. I have to tell you, it does the opposite for us. Customers start to ask questions, and so I think it accelerates our ability to educate customers because they're talking about it, gives us a platform to talk about what we do. So we take it as a welcome part of both developing the ecosystem conversation, because Dialogue is about virtual care plus mental health, so that supports our ecosystem. It also gives us great opportunity to talk to customers about what's going on in the marketplace. So we, we really see it as an opportunity. Awesome. Next question that's just come in online is: You have over 7,000 current clients, with many that are global household names. Why aren't any of your adopted clients, your blueprint, built out of what you have? Toyota, for example, our global and long-standing on-site and virtual services client, CloudMD... Why haven't you invested in Toyota to build out a complete solution to advise for all of Toyota North America? I'm not gonna address Toyota specifically- Yeah. But I'll just, I'll just address multinational organizations. So I think it's a great question. We anticipated this question. I'm gonna tell you three things. Number one, we've been focused on the integration, building out the system, taking the cost out, getting the sales team aligned, getting our customers aligned, and educating our customers. Changing buyer behavior is difficult, and so we are starting to see the multi-services, the attach rates growing. I would say that's an indicator to us that education is working. I think that the large multinational customers also have long-term agreements with other providers. We have to wait for those agreements to come to an end, and we are in the constant education mode right now. I think a great indicator for us, and I think Bram would agree with me on this, was Solzberg, who is... Dr. Solzberg is in, and lots of our occupational doctors are in many large organizations, and they themselves are learning. So I think, you know, the focus very much is that we are at an inflection point. We're a growth company. We're committed to focusing on the 7,000 clients we have, selling them more. I know Bram is focused on that, and the sales team is focused on that, because it has the lowest client acquisition cost. So we know that the 7% trajectory isn't enough to take us to the growth company framework, but we're committed in the back end of 2023 into 2024, seeing that rise to the, you know, overall 15%, 15% organic growth in 2024, and that's what we're committed to. Okay. Next question that's come online, I think, might be for you, for you, Prakash, which is, you've said on the Q2 report that you have around CAD 57 million in sales pipeline, in addition to large deals like the RPM one. Of the mix of size and client types, what's the expected cadence conversion, small, medium, large opportunities? I think to Karen's point earlier, like, selling, selling to customers is a challenge, and educating them is part of that process, and events like this is key to getting that done. Our pipeline is healthy. The conversion at the top end, it's constantly evolving, depending on where we are. We're in RFP phases for a lot of our clients. We're in constant communication and conversation. In terms of percentages, off the top of my head, I think, what do we have? I think the real answer is that in the pipeline, we have small, medium, and large customers. Remember, we have a large way we distribute our products. We distribute through insurers, brokers, advisors, and direct to organizations. I have to say, a lot of the mid and small come through the brokers, advisors, and insurers, and a lot of the large is in partnership with the brokers, advisors, and insurers and direct. I think the management and the KPIs that we do at the executive level, and Bram does on a daily, weekly, monthly basis, is managing the sales team to make sure they have the breadth and depth, because the sales cycle time, although we're seeing it shorten, is much larger, much longer for a larger company and much shorter for a mid and small. So to get that churn of anywhere on average between 60 accounts-100 accounts per month, you've got to have that mix of business to bring in the number of clients. Thanks, Karen. Gosh. The next question that comes in is, they're very excited to be a part of Investor Day, and the question becomes: What other things will you do to help keep investors more informed? Yeah, I think, you know, we get this question a lot, and we appreciate the need for information. I think the challenge for us has been we've been focused on taking cost out of the business. I think for shareholders and investors, that's the most important thing we could have done. We had to preserve cash. We couldn't keep at the run rate and the burn rate that we were doing on a quarterly basis, so it's hard to update on that. It's hard to keep, because if I'm an investor, I want to see it flow through the financials. I want to see those cost savings and the evidence that it's coming out. On the sales side, customers actually don't like their name in the news as supporting, like, XYZ company. We just... You know, recently we signed a very large organization that we're all excited about, but they don't want to have their mental health support program in the news as switching from one provider to another. They don't see the value in that. I think the challenge for us is we've made a strategic decision of how we market our products and services. I would say over 90% of our products and services are marketed through brokers, advisors, and direct to organizations. If we had a large partnership with an insurer that we were marketing our products through, you'd be able to update regularly the flow. Now, where I do think that we're going to be able to communicate more with shareholders is on the RPM. The pressure is on my friend, Nathan, over there to be adding patients to the platform and constantly updating you on the patients on the platform. I think that we're gonna find very strong metrics that we're going to keep updating shareholders on, and investors and advisors. I think we're talking about a new investor shareholder strategy that will increase communications in a way that we now have some tangible proof points that we can share on a more frequent basis. We acknowledge, but I think we all benefited from us having our heads down for 13 months, taking the cost out of the business. I would say that that was the most important. And I think to add to that, part of that education journey is also events like this, right? It's a matter of now saying: Look, we've been on this journey. We've, as a management team, we're head down, taking, taking costs out of the business, trying to grow it at the same time. And as Karen mentioned, a lot of our clients don't want to be in the news, but what we do is on a quarterly basis, we release the financials, and you see the results of all those decisions... But then having events like this, allowing us an opportunity to stop, pause, educate, and allow us an opportunity to explain to the market how we brought this business together and what are we offering to the market now. I think we'll start that journey as well as, as I mentioned earlier, reinvesting in the business. This is part of reinvesting in the business and really understanding how do we explain to the market what CloudMD is and where the value proposition. And I think the other thing is we have a leadership team now that's aligned to what we're trying to do here. I think they're from the industry, they're aligned, they're business people, and they get that every day they have to be generating the KPIs that allow us to share. I know we want to get to questions in the room, too. I did have one question. I was sitting on the side that I committed that I would bring forward, so the person probably listening saying- Please do. Are you going to ask? The question was: Why is management not buying shares? And so I think, Prakash and I just wanted to address that quickly. As a public company, we do have blackout periods that happen vis-à-vis, our reporting timelines. And I think those blackout periods are aligned to the time that the month-end closes, to the time we report. My friend Prakash here will talk about in a minute, what he's going to do to shorten those timelines. But as you know, when you're divesting assets, those assets take a long time to divest. We're in LOI discussions, we're in... And they create blackout periods in and of themselves. And as we announced, we're in a, we're discontinuing operations with VisionPros, which has put us in that situation. So understand how frustrating it is for you. It's frustrating for us because the share price is very good for us to be purchasing right now. So I don't know if you'd add anything to that. You and I had that conversation yesterday. Yeah, I think it paints the right picture. As you mentioned, our financial reporting cycle is longer than I would like it to be. Our finance team is working hard to get that as short as possible, and I think that's part of that infrastructure debt that I mentioned before. It's a matter of how do you bring all those different pieces together to report them in a timely basis? And we do field that question a lot, and it gets frustrating in the sense, look, we believe in what we're doing. The leadership team talks about it a lot, but then whenever I field that question, "Can I buy some shares?" It's, "Guys, we can't buy some shares- Well, why? We're in that process. Yeah. Timing is a question, VisionPros. So another question that just came in is: What do you expect to sell VisionPros for? I can answer that question. So, VisionPros has an interesting history. I think to answer your question, I don't think it's really material to our overall operations and balance sheet generally. We've written a large part of that business off, and so from a tax perspective as well, there's not a meaningful hit to the organization, but there is interest, and so the process is continuing, and I can't really disclose where we intend to land. But, confidently say it's not going to be material to the overall PNL and then cash flow statement. But at the same time, it's something that we're looking to sell it to. But the reverse side of that is that the decision to divest VisionPros will also help our cash flow and help our... So it, you know, there's a lot of analysis that went into that decision. Agreed. Is there any questions in the room that people... You know, Dave, I know you've joined us. Is there any questions any of you have? Sure. Absolutely, Dave. No, no. Just going back to the health side, you guys talked about adding new customers per month, I believe it was. So maybe talk about, you know, what are these customers, what are they buying? Are they point solution kind of guys, or are they looking to be part of the full solution set that you talked about? And are these typically displacements of existing customers? So I think that's a fantastic question. We almost had thought we'd place that with you so that we could answer that question. So I can answer it a few ways. So first of all, the number at the core of our business is assessment services, it's mental health support services, it's virtual care, occupational health, and disability management. I would say the fastest growing of that, that we see coming in monthly is a combination of virtual care and mental health support solutions. We are displacing somebody else, and most times it's two providers going away and one. So they have a virtual care provider, they have an EAP provider, and we're building it into one. We are seeing a lot more movement from EAP now to healthcare navigation, which we describe in our contract as iCBT, mental health coach, and EAP, so that it's a price per employee per month, and they get access to all those service navigation. On the disability management side, it is typically a smaller market. You have to be self-insured, so it's not typically taking it from an insurer. It's somebody who's managing their disability in their organization and not doing it very well. And then the occupational health side, I would say we are starting to see some momentum finally in our occupational health business on acquiring new customers, really high retention of existing customers. But we're starting to see interest in the new customers, and I think a lot of that is the healthcare providers going in with the salespeople into our 7,000 client base and selling. So that attach rate that Graham spoke about, it's increasing to 30%. It's just what you're talking about, which is seeing multi-product sales. And yes, in the majority of cases, we're displacing somebody else. I would say it's not typically somebody who's never had these services, which is why we're so passionate about this, Dave, is that most companies have one, if not all, of these services with multiple providers. Just as a follow-up, U.S. operations, any update on the, hopefully, you monitor with the large hospital network where you guys are at right now in terms of that contract? Well, I'm going to pass this to the expert, Nathan. So the question, just if it wasn't clear on the microphone, is just where are we with remote patient monitoring in the U.S. and onboarding the large contract we have with the large patient base? So specifically with that client, we started implementation last week. So, I just imagine Nathan, I think you have to face this way because I might have-- I don't think... I think people aren't gonna be able to hear you, unfortunately. You have a soft voice. So specifically with that organization, so whole system, typically implementation, like for EMR and stuff like that, that can be anywhere between six, 12, even 18-month process. That's not gonna be that long for this, because we're just doing a subset of that. So I'd say, you know, we started implementation last week. There's a lot of training that has to happen with this sort of program. So what you're doing is you're training the individual clinical teams. Again, keep in mind, this is a hospital system that has dozens of actual clinics. In this initial cohort that we're working with, there's four or five clinics we're working with. So we're training their leadership so they can in turn help us enroll those patients. It's all about buy-in from the clinic. So that process has started, and I would hope in the next 30 days-60 days, we'll start to get the patients onboarded. Typically, it's a more of a snowball effect. Once that starts, they kind of trickle in first, and then they kind of exponentially increase thereafter. Thanks, Nathan. Just to also add to what Nathan just described, I think just want to re-highlight the fact that we didn't expect there to be meaningful move in our Q3 results as well. And so I think consistent with what our projection was in that, what Nathan expressed. But I think the other important thing is what the team has done there, is we have the engagement of the CEO of the hospital system. She's in the meeting and pushing us forward. So the confidence level, both from that individual, coupled with myself and Nathan, we knew the onboarding was gonna be difficult, but they have participated with us in creating the revenue flow. So we're kind of got a body and partner so that the revenue flow will be... And remember, they also get revenue from this, so there's a double buy-in for making it happen, right? It's an orientation in the U.S. more around that. Any other... Oh, go ahead. Any other questions from the room before we go back online? We have a few more here. Okay. Okay, the next question that came in, I think it's for you, Prakash, which is: Do you need additional cash to build the business? One of our strategies that I laid out was looking at alternative sources of capital and renegotiating our debt. So we're working with our partner in terms of renegotiating our debt that we currently have on the balance sheet. So we're in active conversations there, and we're, we're hoping to close that by the end of the year. And we're also looking at opportunities where we can leverage non-dilutive debt that the Canadian government offers, for example. When a company like ours wants to expand into the U.S., there's programs that the government runs to allow us an opportunity to fund the business that Nathan described, right? We have a healthy pipeline there that we can support. There's a healthcare provider network that we want to develop down there. If we really want to reinvest in our business, there is a requirement to have some cash, and we're looking at sources of how we get there. The great thing about Nathan's business, once it gets going, it can be self-funded in that space, but it's a matter of, you know, the short term that we're dealing with at the moment. I think the really neat thing, Prakash, that you're not taking enough credit for, is the building of the business cases. So we're actually have built business cases for the investments with expected return on investment of revenue or, or gross margin, which I think is a for us, it's exciting because we've spent 13 months dealing with acquisitions for which there was a framework, and we're trying to pull costs out. This is now injecting capital back into a business like RPM, where we can really build a healthcare network or use our smoking cessation program. So it's really about redeployment of assets to generate more profitable revenue. So I think that's really exciting. Yeah. Getting a lot more questions coming through online, so please take it with me. Question from online is: How do you compete against large companies like Teladoc? Well, I can start, if you want. I think where we have really focused our efforts on building an integrated ecosystem that can solve the healthcare issue. Now, I'm particularly-- I've been with the company now, this is year three for me. I think we came out of the gate hard on the ecosystem, connected care, whole person, and I think the market follows. I think that we... I keep saying it, the market size is so big, players that are big, like Teladoc, that are out telling our story, are telling it with their dollars, and we're following behind. It's not so much somebody else telling the story that it's a problem for us. It's giving assertion or accretion to the fact that this is what the market needs. Now, I think where we differentiate ourselves is our ability to, to talk about our healthcare provider network, talk about our key platform, talk about our AI. I really think we've got the differentiators to surround that. And, you know, that to me is, is less of an issue as far as Graham getting his team out, Nathan getting his team out, and talking about the differentiators and really accelerating. I think somebody said it to me this morning, the sales should now be like a hockey stick, right? Where we're constantly now embracing what we've got and, and getting out there and selling to clients. Thank you. Next question is: What things were you able to do to increase share price? That's a tough question. Price, sure, God. It's continuing to drive profitably, right? Like, you have to say what you're going to say, and then you have to prove it.... I think one of the things that we're looking at to increase profitability at our end is after the, they call it, I call them quick wins. Not quick—they're quick, but not easy. Cutting CAD 20 million out of the business was not easy, but it was like there were clear areas where you could do that. I think in the area now that we wanna focus on to really drive value at the back end of our offering, and that's... I look at HR, I look at IT, I look at myself in finance, right? We've done a lot of acquisitions. Everything is sitting in different businesses. Bringing that together collectively, as Dhruv mentioned, the technology stack, we're doing things like consolidated payroll, centralized finance, finance of the future. There's a lot of opportunity there to drive efficiencies, drive automation, and really push the business to operate more effectively as well. And then I have constant conversations with Brad and Nathan saying: You know, "Here's where we think we have an opportunity. We have an opportunity to monetize data. We're collecting data all the time. How do we build that?" And then it's a matter of us four, five, six leaders coming together and saying: "Okay, so what comes first?" And so that's the big challenge. But I think all of that coming together will inadvertently drive your share price, because that's where value is created, right? The share price really reflects what the company is generating from a cash flow, how our profitability is. I think that's been our frustration and challenge at the same time. Yeah, I think it's about building the confidence in shareholders. I think our stock price has built into it, the financial profile of what we've been experiencing over the past three years. That's built into the becoming profitable, becoming, having free cash flow, Adjusted EBITDA, break even. These are all the data points that are what we said we were gonna do. I think the pivot point is going to be the acceleration of revenue, and being able to sell more of these contracts, and show the revenue growth now at the same velocity as what we're improving gross margin and what we're increasing, increasing EBITDA. Like, that, I think those are, are hand in fist, the two things. Just like we're building customer confidence, we have to build the shareholder confidence as well. There are three more questions there with me. Why do you use the Healthy Life app brand in the U.S. and Kii in Canada? So, you know, my position on that is that Nathan made a very good case for using Healthy Life that spoke to the way doctors would embrace the program because they're managing and monitoring the individual. Kii was built as an employer-type brand, and so I think for now, we are perfectly okay taking the feedback from the doctors of what they're happy using and continuing to use Kii in Canada. Okay. The next question is: How long does it take you to onboard a client? I think Bram and Dhruv address that. I think, you know, it depends on the service level, I'll say first, and the complexity, and how many employees, and geographically where they're located. And some of it is even just based on the clients themselves and their, their ability to communicate. On average, we're somewhere in the 30 days, and I think what I heard Dhruv and Bram say is they're taking that down to 15. So I think that's, that's the onboarding. For us, it's less about that. I think most of the time we're coming up against, to Gabe's question, right? People... We're, we're displacing somebody, so there's a notification period. There's a time that has to come into play. So I think for us, we're moving to onboarding in 15 days. I think it's a lot more on the client. Yeah, I would say onboarding begins when the client is ready. We talked about backlog, for example. We can sign a contract today, but they're on another provider, for example. Sign the contract today, they're on another provider until the end of the year. We're not ready to onboard them until January 1, for example. Really, that timeline begins from client says: "Yes, I'm off the previous provider, ready to go." If they don't have any sort of nuanced requirements that they need, that's a matter of where Dhruv and Bram's team kick in and say, "Okay, look, here's just how long it'll take us." To Karen's point, 15 days is where the target is, and we're all committed to that. Well, and I can tell you, I've set a pretty lofty stretch goal with my team for the small to mid-sized businesses, and a broker portal to be kind of launched, which would take us to on-demand. So we hope we'll get there, but we'll firstly put the 15-day mark and then set that stretch target. So that's awesome. Last question: Do you bring Kii to the U.S.? That's a great question. So I think our strategy right now, the U.S. is a big market. I think what we're trying to do on the employer side is build a Canadian marketplace, do it really well, where we have multinational customers who are both sides of the border. We're gonna service that both sides of the border as our initial entry point into the U.S. I think from the U.S. perspective, there's a lot of players in the EAP market. There's a lot of players in the virtual care market. I would say it's more transactional in nature, and we're looking to build more of that cohesive product, where it's an ecosystem. I think we're, for now, the strategy is focus on multinationals that are both sides of the border, sell them the programs and services that can enable their employees to get the same products both sides of the border. I think it's about taking the assets, such as iCBT, incorporating it inside the RPM model. I will say, we didn't touch on it a lot today, but you're gonna hear more about our business to consumer model, because mental health in Canada is very, well positioned for the business to consumer, because the employer pays for it, but the consumer's making the choice. We're expanding our clinics, we're expanding the way we support the consumer. In the U.S., consumers are purchasers of healthcare. So the iCBT and the mental health solutions we have can be more consumer-driven, I would say, with a faster uptake than the employer-driven. That's helpful. Great. So I think that takes us through all the questions that came through online and in person here. Karen, do you want to just kind of give some closing remarks to close us out as well? I think it was exciting for us to have the opportunity to do this. It was a long time in coming, but I think, you know, from my perspective in particular, because Prakash is relatively new to the organization, we wanted to have the cost out of the organization and flowing through the PNL so that people could feel like they understood the financial profile of the company. I think today was about giving you a flavor for the products and services that we offer, our commitment, management's commitment to continue to drive innovation while balancing the need for cost optimization and revenue. I think a commitment to shareholders to be more transparent. I think that that's our... That's Prakash's and my commitment. We're gonna be more transparent. We're gonna find KPIs that we're gonna be sharing, like backlog and then revenue, sales starts versus sales, and all of those things where we can start to help you understand the value and start to unlock the value for shareholders. But I wanna thank everybody for taking time out this morning, both everybody who managed to show up and come today—this was fantastic—to the many hundreds of people I hear we have online. Thank you very much for attending today. In particular, thank you for extracting all the wonderful information out of all of us. Not an easy job. You're most welcome. Thanks to the executive team for joining us today and have such thoughtful insights that they drive, that they drove forward and home. So I think that concludes our Investor Day session today. Thank you. Thank you.