You are currently on hold for the Think Research Corporation Conference Call. At this time, we are assembling today's audience and plan to be underway shortly. We appreciate your patience, and please remain on the line. Good day, and welcome to the Think Research Corporation Fiscal Year End 2021 conference call. Today's call is being recorded. At this time, I would like to turn the conference over to Sachin Aggarwal. Please go ahead. All right. Thank you operator and good day to everyone on the call. Joining me is John Hayes, our new Interim Chief Financial Officer, and he will review the financial results in more detail after I discuss some of the operational achievements during the fourth quarter and the full year 2021. Just before I do, a reminder to everyone that some statements made on today's call are forward-looking in nature and therefore subject to certain risks and uncertainties, which we do outline in detail in our regulatory filings, which can be found on SEDAR.com. As a reminder, Think Research is an industry leader in delivering knowledge-based digital health software solutions. The company's focused mission is to become, for clinicians, an essential data service that organizes the world's health knowledge so everyone gets the best care. We're building for healthcare what Bloomberg is to finance, right? Our evidence-based healthcare technology solutions support the clinical decision-making process and standardized care in order to facilitate better healthcare outcomes. The company gathers, develops, and delivers these knowledge-based solutions globally to customers, which is enterprise clients. That's hospitals, health regions, healthcare professionals in clinics, and/or governments, right? The company has gathered, as a consequence of this, a significant amount of data by building our repository of knowledge through our network and our group of companies, including the companies that we've acquired. In all, Think licenses our solutions to more than 13,000 facilities for over 300,000 primary care, acute care, and long-term care doctors, nurses, and pharmacists who rely on the content and data provided by Think to support their practices. Millions of patients annually receive better care due to the essential data that Think produces, manages, and delivers. In addition, the company collects and manages pharmaceutical and clinical trial data via the Bio Pharma Services entity that we acquired on September 13th, 2021. As a reminder, Bio Pharma Services is a leading provider of bioequivalence in phase one clinical research services to pharmaceutical companies globally. We also have a network of digital-first primary care clinics and a medical clinic that provides elective surgery. The company's financial performance during 2021 reflects the impact of four acquisitions that transform the business, such that revenue in the three months ended December 31st, 2021 of CAD 19.1 million was 438% higher than in the same period a year ago. The reported financial performance of the company includes CAD 5.7 million of one-time costs incurred during the year associated with these transactions. To lay the foundation for profitable growth of the consolidated operations, the company has embarked on a plan to realize cost and operational synergies during the year. In addition, very importantly, we signed several multi-year, multi-million dollar contracts both internationally and domestically throughout the year. I'll highlight a couple. For example, in November, we announced a five-year, CAD 5.2 million dollar contract with our partners at the Better Access Alliance to provide patients with better access to healthcare information and providers across the province of Ontario. This SaaS contract is an expansion to the company's digital referral network and will connect patients to healthcare providers, get them information and guidance throughout their healthcare journey in what is referred to as a digital front door. It's the digital front first point of entry for when patients are looking for care. I am particularly pleased to say that this solution went live across the province just last week, and we have already seen thousands of daily accesses by providers and patients. During the year, we also signed international multi-year contracts, which increases our geographic footprint to eight countries, including in March. We signed up eight facilities in Iceland with an option to expand to other Nordic countries such as Sweden, Denmark, and Norway. In addition to this notable deal, we also expanded multiple licenses across our solution set. For digital referrals alone, we doubled our scale from half the province of Ontario to the entire province and doubled usage in the same time period to over 300,000 digital referrals processed for the year. All of these contracts and/or contract awards and expansions give us enormous confidence that we are building an essential data service for clinicians everywhere that Think has a presence. We've worked very hard to exit the year with approximately CAD 6 million of acquisition synergies and our operations optimized for profitable growth. With the recently announced injection of up to CAD 25 million of new capital, of which we will access CAD 10 million in the short term, we have the capabilities and capacity to turn Think into an essential data service for our clients. We are just embarking on that journey now. We feel like we're still just 15, 16 months into being a public company. We feel like we're just very early in this journey, and we are very excited about the future. Now, I'd like to invite John Hayes, our Interim Chief Financial Officer, to review the financial results in detail for the quarter and for the year. After he reviews the financials, I will conclude with a bit of an outlook, which offers some thoughts on how we plan to become an essential data service for clinicians. Over to you, John. Hey, thanks Sachin. I will start my comments with the fourth quarter of fiscal 2021 and compare that to the prior quarter, Q3 of 2021, and to the comparable quarter of 2020. Due to the transformation of our business resulting from the four acquisitions in 2021, I'm going to suggest that the quarterly comparisons are the most relevant indicators of our baseline operations going forward. After that, I'll briefly review the full year 2021 performance. We are pleased to report that revenue for the quarter ended December 31st, 2021 was CAD 19.1 million, an increase of CAD 15.6 million or 438% compared to revenue of CAD 3.6 million for Q4 of 2020. Sequentially, revenue in Q4 of 2021 grew by 90% compared to CAD 10.1 million in Q3. The strong growth quarter-over-quarter was due to the impact of a full quarter of operations from the Bio Pharma acquisition, along with new revenue from the acquisition of Pharmapod in November, supplemented by the organic growth in contracted revenue that Sachin referenced earlier. For the fourth quarter, our software and technology segment delivered CAD 6 million, or 31.5% of total revenue. Clinical research represented CAD 9.2 million, or 48.3% of total revenue. Clinical services generated CAD 3.9 million, which is 20% of our total revenue. Our cost of sales increased to CAD 10 million in the quarter, up 398% compared to CAD 2 million reported in the same quarter of the prior year. The increase in cost of sales generally tracked the increase in revenue, as well as an impact from revenue associated with the acquired clinics in Bio Pharma, which have a lower gross profit margin than the software and technology business line. Turning to gross profit, during the last three months of 2021, the company generated gross profit of CAD 9.1 million compared to CAD 1.5 million for the same period in the prior year. That's an increase of 489%. The increase in gross profit was primarily related to the increase in revenue that I just mentioned. In Q4, that 2021 gross profit represents an increase of CAD 4.9 million or 115% compared to Q3 of fiscal year 2021. For the last quarter of 2021, the company generated gross margin of 48% compared to 44% for the same period in the prior year. The change in gross margin was due to a change in revenue mix due to acquisitions and also due to synergies gained from integration. The gross margin in Q4 is also up from 42% when compared to Q3, primarily as a result of operational synergies being realized during the quarter that reduced cost of sales. Our general and administrative expenses increased by 87% to CAD 7.3 million in the fourth quarter of 2021 compared to CAD 3.9 million for the comparable period in 2020. The increase was primarily due to personnel costs associated with acquisitions completed during the past 12 months, higher salaries and wages to support the continued growth of the business, and higher stock-based compensation. Other expenses that increased year-over-year and quarter-over-quarter due to acquisitions includes depreciation and amortization and sales and marketing costs. Sales and marketing expenses also increased due to our strategic emphasis on driving scale through elevated branding and securing and retaining revenue generating talent through higher salaries and wages. Acquisition, restructuring, and other costs for the quarter ended December 31 decreased by 78% to CAD 1.3 million compared to CAD 5.8 million in Q4 of 2020 due to significant one-time costs incurred in 2020 in connection with the listing of Think's shares at the end of that year. As part of the HCP acquisition on December 23rd, 2020, the company acquired 100% of the shares of Aireon Tech, a non-core business unrelated to the healthcare sector. In Q4 of 2021, the company divested Aireon to focus on its core business, resulting in an impairment loss of CAD 677,000 on intangible assets. Turning to Adjusted EBITDA, it's a non-IFRS measure that we believe helps explain the cash-generating potential of operations after adjusting for non-cash and one-time items. For the fourth quarter, Adjusted EBITDA loss was CAD 200,000 or 1% of revenue. That represents a thirteen-fold improvement compared to an Adjusted EBITDA loss of CAD 2.7 million in the fourth quarter of the previous year. Sequentially, compared to Q3 2021, Adjusted EBITDA improved 17th-fold from a loss of CAD 3.4 million in that quarter. Although there's more work to do, we believe that operations are trending positively towards future cash generation as the company concentrates on organic growth and scale. The company's cash balance during the fourth quarter increased by CAD 340,000 from CAD 6 million at September 30th to CAD 6.3 million at the end of 2021. Cash used in operating activities was CAD 158,000 for the three months ended December 31, 2021, compared to CAD 5.2 million in the third quarter of last year and CAD 3.4 million for the same period in the prior year. The primary reason for the decrease in cash used was more favorable changes in net working capital and the reduction in listing-related costs in Q4 of fiscal 2021. Think's net loss for the fourth quarter was CAD 7.6 million, down by CAD 5.5 million when compared to a loss of CAD 13.1 million for the same period in the prior year. This reduction in net loss is due to decreases in expenses reflected, relating to the acquisitions and RTO in Q4 2020 and the recovery of income tax expenses. Earnings per share loss for the year was CAD 0.62. For the fourth quarter, it was CAD 0.13 compared to an EPS loss of CAD 0.49 for the same period in the prior year and a CAD 0.34 loss in the third quarter of 2021. Now I'll review full-year performance for fiscal 2021 compared to the full-year performance for 2020, which includes periods when the company operated prior to its public listing. Revenue for fiscal 2021 was CAD 47.8 million. That's an increase of 178% compared to CAD 17.2 million for the comparable calendar year, 2020. The revenue growth was driven from our organic sales and the four acquisitions completed during the year. The impact of this revenue growth cascades down the income statement. Rather than pointing at specific items, it's accurate to say that the acquisitions and organic growth impacted all margins, costs, and expenses. The company's Adjusted EBITDA loss was CAD 6.6 million compared to an Adjusted EBITDA loss of CAD 4.6 million in the calendar year 2020. When expressed as a percentage of revenue, Adjusted EBITDA loss margin for 2021 was 13.8%, down from a 26.5% Adjusted EBITDA margin loss reported for the calendar year 2020. Net loss for the full year 2021 was CAD 29 million, compared to a loss of CAD 18.1 million for the calendar year 2020. The company's cash balance at the end of 2021 was CAD 6.3 million, down from CAD 10.9 million on December 31st, 2020. This decrease in cash reflects the net impact of cash outflows from operations during the year of CAD 11.5 million and from investing activities of CAD 27.4 million, offset by debt and equity financings of CAD 34.3 million. Subsequent to quarter end, we announced signing a CAD 25 million convertible debt agreement. We expect to receive the first tranche of CAD 10 million in the coming days once we complete the customary closing conditions, including approval from the TSXV. That first CAD 10 million will be convertible into common shares of Think at conversion price of CAD 1.44 per share. We intend to use this capital to fund organic growth, potential acquisitions, and for general working capital. Sachin will now give you an update on our plans to make Think an increasingly important provider of solutions to the healthcare industry. All right. Thank you John. Very nice to have you on board and, great job for your, for your first call with us. Suffice it to say, I think we're very pleased with our progress and our results in Q4 of 2021. I think everyone can see the very significant progress quarter-over-quarter. Our objective is to grow revenue with improving margins by becoming an increasingly essential data solutions provider for healthcare clinicians everywhere, so they can deliver the best outcomes for patients. We have effectively optimized most of our operations to deliver on this objective, although there is a little more to accomplish there. That being said, we are measuring three operational growth KPIs that we are allocating resources and attention towards. First, we are adding more users to current licenses by promoting adoption and usage. There's a lot of room for us to increase users and usage of already deployed solutions. As we add more users, our solutions become more essential to licensees, which gives us pricing power and switching barriers. Again, I'll use the example of digital referrals here. In 2021, we doubled the size of this long-term agreement. It's a total of a 10-year agreement with the province of Ontario, adding thousands of new user licenses. The resulting network effect has dramatically increased usage and stickiness through the year from less than 150,000 processed in 2020 to more than 300,000 processed in 2021. I'm very pleased to say that that trend continues. Second, we aim to increase revenue per user by increasing the number of services and solutions that a licensed user adopts and uses regularly. Product development, along with recent acquisitions such as MDBriefCase and Pharmapod, give us an opportunity to cross-sell these solutions to existing licensees to increase revenue per user. Okay? Finally, with a user base that now exceeds 300,000 doctors, nurses, and pharmacists, we have an ability to sell solutions and content developed internally and with strategic partners that monetize licensed users directly over the top of their enterprise or facility license. We believe that direct user licensing could generate entirely new revenue streams. In a very simple example, we are adding pharmacist education through MDBriefCase to the Pharmapod product, so that tens of thousands of our existing pharmacist clients will be able to access the industry-leading continuing medical education provided by MDBriefCase. Number one, add more users to existing licenses. Number two, increase our revenue, our revenue per user by selling in additional services and licenses. Number three, sell new solutions and content to users in our facilities directly over the top of facility licenses. Okay? In support of these strategies, our product teams and business development teams are focused on strengthening the utility of our data and data solutions, such as digital referrals, through ongoing product development, platform integration, and content development. We plan to add new third-party solutions to our data services and solution set via supplier partnerships and integrations. We're expanding our solutions footprint via new facility licenses and over-the-top direct user licenses in eight countries where Think has a market presence. In the immediate time frame, in order to effectively execute on these strategies, the company is undertaking the following now. First, we're completing the integration of recent acquisitions, Bio Pharma and Pharmapod. The company has gained CAD 6 million of cost synergies to date. That's to the end of December 2021. There is more to recognize in the coming quarters. In addition, Think is improving operations and sales potential at both in order to maximize adoption scale and earnings potential as we add more licenses and users to these acquired businesses. As we optimize operations through integration, we are continuing to evolve from a product-focused conglomeration into a cohesive data solutions company with a focus on clinician data and knowledge needs. Our product and R&D teams are constantly reviewing our user needs, our solution set, and sales and marketing strategies with an effort to become more essential to users and licensees alike. As we optimize operations, we are realigning resources to increase sales and marketing capacity and revenue-generating support functions in key areas. With the recently announced CAD 25 million convertible debenture with Beedie Capital and the access to senior secured debt from Scotiabank, Think has more than enough capital to fulfill our strategic objectives. I want to conclude by summarizing our major achievements over the past year. Think has begun to transform into an essential data service for doctors, nurses, and pharmacists. This is a journey that will continue as we scale. Over 300,000 clinicians use at least one of our solutions, and we have a presence in research facilities, pharmacies, hospitals, clinics, and long-term care health facilities in eight countries. Our annual revenue run rate this year exceeds CAD 80 million, up from CAD 16 million revenue base prior to our public listing 16 months ago. We have worked hard to get close to break-even Adjusted EBITDA, and we are confident that we should begin delivering long-lasting profitability soon. We have optimized our operations, strengthened our balance sheet, and are gaining more strategic focus. At our current share price levels, we are absolutely convinced that investors can benefit from our profitable growth plans and earn excellent shareholder returns. With that, this concludes our pre-prepared remarks, and I would ask the operator to open up the line for questions. Thank you. Thank you. If you would like to ask a question, please signal by pressing star one on your telephone keypad. If you are using a speakerphone, please make sure your mute function is turned off to allow your signal to reach our equipment. Again, press star one to ask a question. We'll take our first question from Rob Goff with Echelon. Please go ahead. Thank you and good morning. Congratulations on solid results coming out here. As we look forward, how should we look at operating savings? Like, we realize that you achieved CAD 5.8 million of savings in 2021. Could you talk about those realized versus, you know, an exit rate, run rate savings going into 2022? To what extent might those be somewhat offset or more than offset by increased sales and marketing expenses? Thank you, Rob. Thanks for the question and appreciate the highlighting of that very important point. We did of course see some of those efficiencies within Q4 because many of them were executed within Q3 and even those executed in Q4, you see some of that impact in quarter. You see the full run rate of those savings heading into Q1. You're correct, we have invested significantly in sales and marketing heading into 2022. There is an offset of those savings relating to our reinvesting in sales and marketing. Overall, while I don't have the numbers at my fingertips, I can tell you that the sales and marketing overall budget are more than 4x what they were before we went public, right? It's a significant increase. That of course has some impact, but it's the right place to put our investment, particularly with the significant opportunities for cross-sell and upsell that we now have between our solutions. We are pretty excited about that. I will, however, highlight that the CAD 5.8 million achieved last year is not the end of the story. There are more synergies to be had, and we can talk about that further when we talk about our Q1 results in a few weeks, and we'll talk about that further still when we talk about our Q2 results just a couple of months away. Okay. If I may, could you talk to the impact of COVID on Q4 and perhaps a bit of a preview in terms of how that may have impacted Q1 or, you know, looking ahead, presumably, hopefully, we won't see the impact in Q2 this year. Again, thanks for that question, Rob. Q4 had some impact from COVID, particularly in the month of December as we started to see Omicron really have an impact on the healthcare system, right? Its impact overall in Q4 was mild. In Q1, however, Omicron did have a modestly significant impact because the government issued another order as it's done previously through the pandemic to close clinical operations. Right. For the entire month of January, our largest clinic, the elective surgery clinic, was closed to all patients. Right. That of course has an impact on our Q1. It also has an impact on the biopharma entity when you close clinical operations, studies get moved. We don't lose those studies, but they get rescheduled. There was some shifting of studies out of Q1 into Q2 and Q3. Overall pipeline remains healthy. Those two items do have a bit of an impact on the Q1. The good news is you don't lose those clients. It's a shifting of some of that revenue into later months and later quarters. We'll take our next question from Chris Thompson with PI Financial. Please go ahead. Great. Thanks, guys. On 2022, I didn't see any update on guidance. Are you still thinking top line CAD 90 million-CAD 100 million and EBITDA in the CAD 7 million-CAD 10 million range? We are not changing guidance at this time, Chris. You can stick with what you've got at this time. If we decide to change guidance or update you on guidance, we will do so. Roger. Just in the MD&A session, you mentioned, you know, improving margins as a focus going forward. Is that a function of gross margin or are you planning to scale revenue a little bit faster than OpEx or a combination of both? It's a combination of both. We do expect good organic growth heading into this year. Our pipelines are very healthy. As you get scale, of course, you should expect that your cost of goods sold relative, particularly for the SaaS components of the business, you should expect that your cost of sales relative to the whole should decline as a percentage. We expect to see some of that. We still have synergies to achieve. It'll be three-fold. It'll be top-line growth, just a benefit from our size overall and then of course, some synergies yet to be realized. That's across the business, by the way. We still have, while we've achieved our first line of synergies at Bio Pharma, just by way of example, there's still, you know, more to do in digitizing that entity. There is room, yeah. As a reminder, to ask a question, please signal by pressing star one. We'll take our next question from Jerome Dubreuil with Desjardins. Please go ahead. Hi. Good morning everyone. Congrats for the results. Maybe a broader perspective question for me, just given I think we are anticipating a change to potentially turning EBITDA positive either next or in the next few quarters. With the convert being completed now, I kind of feel there's a bit of a change in tone in terms of accelerating certain initiatives. Turning EBITDA positive and converts, were these milestones that could possibly change the way you operate or allocate capital to your capital priorities going forward? If I can read between the lines of your question, I think what you're asking is are we shifting our focus as between M&A and operations. Is that kind of what you're getting at, Jerome? Well, maybe there were some initiatives that you weren't full throttle on, just given your situation in terms of profitability that now you'll be able to go forward with. Well, let me say a few things. Our focus will be those items that I spoke about in the later part of my script, which is increasing our licensed users within existing contracts, upselling those licensees for new user licenses or new solutions, essentially cross-selling, upselling, and then selling directly into our user base through over-the-top licenses so that we're getting multiple sources of revenue from a single user, right? That will be our focus, right? You're right in the sense that becoming EBITDA positive, as will occur in the coming quarters, will allow us the flexibility to double down and triple down on sales and marketing for those purposes, right? Yeah, I definitely think, Jerome, that you're gonna see a bit of a, you know, a change in focus as we shift towards that, right? Maybe I'll just address the question on M&A. We will always keep our ear to the ground here in terms of M&As, and we will be opportunistic as it relates to really remarkably good opportunities for tuck-in acquisitions. I'll highlight the Pharmapod acquisition because it was just a stellar acquisition that is delivering such remarkable results for us already. We'll always keep our ear to the ground for those kinds of opportunities. The focus for the near term remains on the operations and those key items that I spoke about earlier. Great. No, definitely great to have the flexibility there. I know you mentioned you're not changing your EBITDA guidance for 2022, but at the same time, you're seeing more potential for additional synergies. What's baked in in terms of synergies in relation to the current EBITDA guidance? Is it maybe more the CAD 6 million that's in the guidance right now? Would the additional synergies be on top of the guidance that's already out there? No. We've always had additional synergies that are planned into 2022. Now, we're putting a finer point on them or scheduling them out for the balance of the year. They're certainly, excuse me, a part of previous plans and previous guidance. What I will say is again, these synergies open up the opportunity for us to invest and reinvest in things like sales and marketing, which is where we're putting our precious dollars. As a reminder, if you would like to ask a question, please signal by pressing star one. It appears there are no additional questions at this time. All right. With that, genuinely appreciate you joining us this morning. We're very excited, very pleased to be approaching break-even EBITDA and planning for positive EBITDA in the coming quarters and for later this fiscal year. With that, we think it gives us significant flexibility and we're excited about what's yet to come. Thank you for joining us this morning. This concludes today's call. Thank you for your participation. You may now disconnect.