Hello, welcome to the annual meeting of shareholders stockholders of Q4 Inc. Please note that today's meeting is being recorded. During the meeting, we'll have a question and answer session. You can submit questions or comments at any time by clicking on the message icon. It is now my pleasure to turn today's meeting over to Colleen Johnston. Ms. Johnston, the floor is yours. Well, good morning, and welcome to the annual general meeting of shareholders of Q4 Inc. My name is Colleen Johnston, and I'm the Chairperson of the company. The Board of Directors of the company has delegated to me the authority to lead the meeting of shareholders today. As this meeting is held virtually via live webcast, we think it is necessary to set out a few rules for the orderly conduct of the meeting. Number one, questions in respect of a motion can be submitted by any registered shareholder or duly appointed proxyholder using the instant messaging service of the Computershare virtual meeting interface. Please note that there will be a slight delay in the publication of the communications received. Number two, when asking a question, please indicate your name, which entity you represent, if any, and confirm that you are a registered shareholder or a duly appointed proxyholder. Number three, questions will generally appear shortly after they are submitted but will only be addressed during the question period at the end of the meeting, provided that questions regarding procedural matters or directly related to the motions before the meeting may be addressed during the meeting. Number four, for purposes of the meeting today, voting on all matters will be conducted by electronic ballot. Registered shareholders and duly appointed proxy holders will be asked to vote on each business item after the presentation of all business items. Number five, when you're asked to vote, you will receive a message on the Computershare virtual meeting interface requesting you to register your vote. You will only have a certain amount of time to do so when the polls are open. Number six, if you voted your shares prior to the start of the meeting, your vote has been received by the scrutineer, there's no need to vote during the meeting unless you wish to revoke or change your vote. Before we begin, please read the cautionary statement on the screen. Today's meeting will contain forward-looking statements, these are based on assumptions and are based on risks, including those described in our public filings. Now, before proceeding to the formal business of our meeting, our President and CEO, Darrell Heaps, will make a few remarks. Thank you, Colleen. Good morning, and thank you for participating in Q4's annual shareholder meeting. I'm proud of the progress that we made in 2022 during a challenging year for the capital markets. We continued driving top-line growth despite muted activity, including canceled IPOs, M&A, and take private. I'm really pleased with how we focused on what we're able to control throughout the year. With millions of investors engaging with thousands of our clients on the Q4 platform, we have an unparalleled advantage in how we leverage our data and analytics while integrating generative AI to provide a consistent stream of innovative products and insights to public companies across the capital markets ecosystem. Our purpose is to help our clients win in the capital markets by helping them execute exceptional investor relations program and help connect them with the right investors to the right company. We are pleased with how we've been able to integrate our products, data, and insights to help companies understand their investors better and communicate more effectively. Looking ahead, we are very well positioned strategically, operationally, and financially to take advantage when momentum returns to the capital market, and it will return. We have over 2,600 clients that rely on Q4 to execute critical parts of their investor relations program. I wanna say how proud I am of our team and their commitment to supporting our clients. Their drive to deliver exceptional service ensures our focus on putting our clients first. We believe our continued commitment to this effort is providing successful with our con-current 94% controllable retention rate. I will now spend some time quickly reviewing the progress we made in 2022. In 2022, Q4 delivered revenue growth of 12%, bringing annual revenue to just over $56 million. We are seeing progress on a number of organic strategic initiatives, including our analytics business and our events business, along with new product launches and the impact of AI across all things that we are doing. Sorry, annual recurring revenue per account, or ARPA, continues to grow through delivering our innovative platform products, along with strong upselling and cross-selling. At the end of 2022, ARPA increased by 9% over the same year, same time last year to $19,821, demonstrating the strength of our sales organization, larger new client engagements, and effective pricing strategies. We see significant opportunities to drive our revenue expansion through new logo growth and expanding our share of wallet with current clients as they adopt more products across our platform. For the year, we were able to achieve our highest annual gross margin of 59.2%. Our margin expansion initiatives are starting to materialize. This will continue into the coming years through further execution of our three initiatives: shifting data feeds to fixed cost structure, the vertical integration of our events business, and investing in automation to create scale across our business. Looking to the future, our roadmap is focused on unifying our platform to serve all the critical workflow and data needs for each of the three sides of the market: corporates, the sell side, and the buy side. From the most critical and visible disclosure events, ensuring hundreds of thousands of live earnings calls participants have a flawless experience each quarter, this level of scale, reach, and data exhaust translates to the highest quality engagement analytics and market insights. This is a key competitive differentiator that we believe investors will value over time. In other words, this is the moat of the Q4 story. I believe that we are well capitalized, very well positioned to successfully pursue the massive market opportunity ahead of us, driving growth for many years to come. We remain focused on creating long-term value for our shareholders by delivering strong organic growth and margin expansion. This continued focus on operational excellence is expected to deliver on our future profitability targets, and we are on plan to achieve profitability late in 2023. To close, our conviction is further deepened by new signs of demand and a more robust IPO pipeline, coupled with additional cross-sell opportunities across the business. We are embarking on one of the most important and exciting product cycles in our history. Our offerings will unlock tremendous new opportunities for our clients to wrap the unmatched richness and scale of our proprietary data with generative AI. The result for our clients is simply better investor relations and better insights for our equity capital markets clients. When combining this operating leverage with our focus on efficiency, we are convinced investors will take notice and reward valuation as we break through to profitability. With that, I'll now pass it back to Colleen to continue with the business of today's meeting. Colleen. Thank you, Darrell. We will now proceed with the formal portion of today's meeting. To expedite the formal part of the meeting, I will move and second all motions. I now ask that the annual general meeting of shareholders of the company come to order. I appoint Ken Zito, General Counsel and Corporate Secretary of the company, as Secretary of the meeting. For the purposes of this meeting, I appoint Computershare Investor Services Inc. Through its representatives as scrutineers, to compute the votes of any polls taken at this meeting and to report them to the company. The purpose of today's meeting is to set out, as set out in the management information circular of the company dated April 3, 2023. The notice calling this meeting, the management information circular, and the form of proxy were mailed to shareholders on or around April 13th, 2023, along with the audited consolidated financial statements of the company for the fiscal period ended December 31, 2022, and related MD&A to shareholders of the company who requested such statements and related MD&A. Unless there is any objection, I will dispense with the reading of the notice of meeting. Copies of the management information circular and other meeting materials are available under the company's profile on the SEDAR website. Our transfer agent, Computershare Investor Services Inc., has attested to the proper mailing of the notice calling this meeting and has provided an affidavit of mailing of the notice of annual general meeting of shareholders, the management information circular in the form of proxy for the meeting. I directed a copy of the affidavit be annexed to the minutes of this meeting as a schedule. I have been advised that there are voting shares representing more than 25% of all outstanding voting shares of the company present, and therefore a quorum of shareholders of the company is present and the meeting is properly called and duly constituted for the transaction of business. I have received the scrutineers report and I direct that their formal report be annexed to the minutes of this meeting as a schedule. As the first item of business on the agenda for today's meeting, I now present to the meeting the audited consolidated financial statements of the company as at and for the fiscal period ended December 31, 2022, together with the auditors report to the shareholders thereon. The secretary has placed before the meeting a copy of the financial statements and the auditor's report. They copies of such documents have been mailed to the shareholders who requested such statements, and they are also available on SEDAR and on the company's website. The next item of business is the election of directors. The six directors to be elected by the shareholders of the company shall hold office until the close of business of the first annual meeting of shareholders of the company following election or until their successors are elected or appointed. The directors to be elected are Neil Murdoch, Ned May, Daniel Kittredge, Darrell Heaps, Julie Silcock and myself, Colleen Johnston. Each have been nominated as directors for the ensuing year or until their successors are elected or appointed. Each of the persons nominated has confirmed that she or he is prepared to serve as a director. Since there are no other nominations or objections, I move and second the motion to elect the directors. Unless there are any questions, I will move to the next item of business. The next item of business is the appointment of the company's auditors. The appointment of auditors of the company for the ensuing year, and to authorize the directors of the company to fix the remuneration of the auditors. The audit committee of the board of directors of the company has approved, subject to shareholder confirmation, the appointment of PricewaterhouseCoopers LLP Chartered Professional Accountants as the auditors of the company. I move and second that PwC be appointed auditors of the company until the next annual meeting of shareholders, and that the board of directors be authorized to fix their remuneration. Unless there are any questions, I will move to the next item of business. As we mentioned, voting today will be conducted by electronic ballot. I will now take a moment to ask that the balloting be open to registered holders and appointed proxy holders. Please note if you have already voted before today's meeting, please refrain from voting. The polls are now open. At this point, all registered holders and proxy holders who have properly logged in with their control numbers or username and wish to vote will be able to see on the screen all motions being brought forth at this meeting. Please register your votes by assessing the voting page when selecting the for or withhold buttons next to the name of each proposed director and next to the re-resolution with respect to the appointment of PwC as company's auditors. We will provide registered shareholders and duly appointed proxy holders approximately one more minute to complete the electronic ballot. Once the electronic balloting closes, the voting page will disappear, and your votes will automatically be submitted. I declare the poll closed on each of the items of business. Thank you. I've been advised by the scrutineers that the ballots and proxies deposited for the meeting have been voted in favor of the resolution. We will disclose the official voting results shortly after the meeting. Number one, each of the six nominees have been elected as directors of the company to serve until the next annual meeting of shareholders or until their successors are elected or appointed. Number two, the appointment of PwC as the auditors of the company has been approved, and the board of directors of the company has been authorized to fix their remuneration. I direct that the results of the poll be included with the minutes of this meeting and the results of the voting be announced in a press release in accordance with the policies of the TSX and filed on SEDAR. The formal items of business as set out in the notice of meeting have now been dealt with. I move and second that this meeting now terminate. As there is no further business to come before the meeting, I declare the formal part of the meeting to be concluded. I ask that all attendees who would like to ask a question use the instant messaging feature of the Computershare virtual meeting interface to do so. We will answer as many questions as time permits. When asking your question, please state your name, the entity you represent, if any, and confirm that you are a registered shareholder or a duly appointed proxy holder. Please limit your questions to topics relating to today's subject matter and keep your questions short and to the point. We will now give attendees a moment to type in their questions. For each question we answer, we will summarize the question and read out loud the name of the person who asked such question and if applicable, the entity such person represents. We would like to remind you that questions which were already answered or that are redundant or repetitive will not be published nor answered. We are open for questions. I think it's appropriate to conclude the question period now and thank you all again for attending today's meeting. Operator, please disconnect the platform. This concludes the meeting. You may now disconnect.
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