Good morning everyone, and thanks for joining us this morning for our 4th quarter 2022 financial report. Before we begin, I will read our cautionary note regarding forward-looking information. Certain information to be discussed during this call contains forward-looking statements within the meaning of applicable securities laws, including, among others, statements concerning the company's 2023 objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Such forward-looking statements reflects management's current beliefs and are based on information currently available to management and is subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Also, our commentary today will include adjusted financial measures, which are non-GAAP measures. These should be considered as a supplement to and not as a substitute for GAAP financial measures. Reconciliations between the two can be found in our MD&A and which is available on SEDAR and our website. With that, I will hand over the call to our CFO, Mr. Brian Goffenberg, to go over our financial highlights for the quarter. Please go ahead, Brian. Good morning, everybody, and thank you for taking the time to join us this morning. 2022 was another strong year as we continued to focus on our corporate strategy and milestones in growing our client base organically. With growth in revenue, gross profit, and bottom line net income, we continued to grow our healthcare product offerings to our clients and continued to gain market share in our target markets. I'll share our financial highlights for the quarter and the year. Total revenue for Q4 2022 totaled CAD 11.3 million, compared to CAD 6.9 million in Q4 2021, an increase of 63% year-over-year. Total revenue for the full year 2022 was CAD 40 million, compared to CAD 24.7 million in fiscal 2021, an increase of 62% year-over-year. Revenue from term licenses, maintenance, and support in Q4 2022 was CAD 8.7 million, compared to CAD 5.3 million in Q4 2021, an increase of 65%. Revenue from term licenses, maintenance, and support for the full year 2022 was CAD 29.4 million, compared to CAD 19.3 million in 2021, an increase of 33% year-over-year. The increase in term licenses, maintenance, and support revenue reflects the impact of continued organic revenue growth in the company's existing and acquired suite of products, coupled with revenue derived from acquisitions completed during the quarter and year. Revenue from perpetual licenses in Q4 2022 was CAD 498,000, compared to CAD 541,000 in Q4 2021, a decrease of 8%. Revenues from perpetual licenses for the full year 2022 was CAD 3.6 million, compared to CAD 1.4 million in 2021, an increase of 150%. Revenue from professional services and hardware in Q4 2024 totaled CAD 2.1 million, compared to CAD 1.1 million in Q4 2021, an increase of 87%. Revenues from professional services and hardware for the full year 2022 was CAD 7 million, compared to CAD 4 million in fiscal 2021, an increase of 76%. Annual recurring revenue, or ARR, which we formerly referred to as annual contract value, totaled CAD 31.6 million as of December 31, 2022, compared to CAD 22.1 million as of December 31, 2021, an increase of 64%. Sequentially, ARR increased by CAD 5.2 million, an increase of 17%. The sequential growth was from organic growth for acquisitions and the increase of foreign exchange value. Gross margin on total revenue in Q4 2022 was 82%, compared to 79% for the same period last year. Gross margin on total revenue in the full year of 2022 was 82%, compared to 79% in 2021. Operating expenses in Q4 2022 totaled CAD 7.3 million, compared to CAD 4.9 million in Q4 2021, an increase of 51%, while operating expenses for the full year totaled CAD 25.1 million, compared to CAD 17 million in fiscal 2021, an increase of 48%. The increases are due to costs from acquisitions completed during the year and the time it takes to get synergies and cost savings to be recognized, which can be longer for G&A expenses due to their nature. Net loss in Q4 2022 was CAD 338,000 compared to a net loss of CAD 606,000 in Q4 2021, decrease in net loss of 44%. Net income for the full year 2022 was CAD 1.2 million, compared to a net loss of CAD 1.9 million in 2021, an increase of 162%. EBITDA for the fourth quarter was CAD 470,000 compared to EBITDA of CAD 170,000 in Q4 2021. EBITDA for the full year 2022 was CAD 5.2 million, compared to CAD 1.1 million in fiscal 2021, an increase of 371%. Adjusted EBITDA in Q4 2022 was CAD 2.5 million, compared to CAD 1.4 million in Q4 2021, an increase of 82%. Adjusted EBITDA for the full year 2022 was CAD 9.5 million, compared to CAD 4.5 million in 2021, an increase of 109% year-over-year. The continued improvement is attributable to several factors, including increased revenues, combined with improved margins and synergies gained from early acquisitions and management's continued efforts to reduce costs. Cash flow from operations was CAD 6.1 million for the year ended December 31, 2022 versus CAD 402,000 for the year ended December 31, 2021. Cash on hand at December 31, 2022 was CAD 17.4 million compared to CAD 16.4 million at the end of 2021. With that, I'd like to hand the call over to Dan for an update on the business. Thanks, Brian. Welcome everybody. 2022 was, you know, a great year for us. I think we all remember that we came out of the, you know, into the year with a lot of expectations. Markets were still buoyant. I think we did one of the last capital raises of the year about a year ago, and we had a really great Q1 which led us to the year. I think the biggest thing about 2022 is it's really leading us into 2023. I think I saw one analyst report use the word predictable, and I think that's where we've gotten ourselves as an organization. We got a lot of meat on the bone, you know, we have scale, which allows our business model to show really what it can do, And we always thought that as we got to the CAD 50 million revenue rate, which we're knocking on the door on, that, you know, we could start doing some really interesting things. For the total year, we entered the year with CAD 22 million of recurring, and we exited with CAD 37 million of recurring if you include the Coyote acquisition. You know, going in, we got CAD 9 million a quarter on recurring, which really gives us a really good base to run the business and to do what we need to do to get the results that we're looking for. We, you know, as Brian mentioned, we left the year with, in Q4 of last year, we had Adjusted EBITDA of CAD 1.3 million annualized. You know, it's about CAD 4 million-CAD 5 million a year. In 2022, in Q4, we're close to CAD 2.5 million. We're entering the year at a CAD 10 million Adjusted EBITDA rate. We've doubled that, which really creates a good margin, and it starts allowing us to, you know, to get some serious cash flow coming off of what we're doing. We're excited of what we had to do. In Q4, again, predictable. We're continuously adding anywhere between CAD 800,000-CAD 1.5 million of ARR per quarter. We got close to CAD 1 million of new ARR. We're starting to see our ARR starting to spread across all of our business units a little bit more. U.K. still is a nice chunk of it, but we're starting to see some impact from our Hicom group, and we're definitely starting to see a really nice impact from our TREAT group in the Canadian sector, and we expect that as we go into 2022. As I said, Adjusted EBITDA to CAD 2.5 million. We're starting to see a little bit of a tail off in our professional revenue. That's by design. We only have the one unit Intouch that does that, and we're really trying. We've tried to get that business model changed to more of a recurring model. You know, there could be a little bit of blips in terms of the one-time revenue as we go into 2023, but we expect the ARR to camouflage that as that continues to grow. We're figuring, you know, good shape. Going into next year, we're starting with CAD 37 million of recurring. We expect to continue to add our CAD 800,000-CAD 1.5 million per quarter. We expect our Adjusted EBITDA to continuously claw its way forward as we produce, you know, more ARR. It's where our high margin business is. As we get more cost synergies, which we still got a lot of work to do there in terms of some of our newer acquisitions, in terms of our Colombo-based strategy. You know, w e've always been operating this company on the Rule of 40. Traditionally, we've been a 20/20 company, 20% growth. I think you're gonna start seeing it moving more to 25% on the bottom line, 15% on the growth as the denominator grows to do that. We're sitting on a nice cash balance of CAD 17 million. We have CAD 50 million of available other resources for both operating and for doing acquisitions. Acquisitions, we're being careful, but they're still in work, and we still see opportunities, and we still expect to do it. We are starting to invest a little bit more in our sales and marketing on an international level. We're trying to bring our U.K. products into Canada a little bit more robust. I think we made an announcement for some deals in Canada with the Transforming Systems work. The Intouch business, we've ramped up a team to sell that in Australia. We've ramped up a little bit more of a serious team on the back of the Hicom acquisition to start moving stuff into the U.A.E. and the Mid East countries. We are putting a little bit of effort into a little bit more sales and marketing into those other groups. We're excited about 2023. We got a good base to grow off, and I think the word predictable and steady as she goes. You never know. We could have some great quarters. We could have some blips. We got a really good, solid foundation as we move forward. I'm open to answer any questions that anybody has. Thanks, Dan. Should you have a question, please use the Zoom raise hand function on the bottom of your screen, and we will make sure to open your line. First question comes from Gavin Fairweather of Cormark. Please go ahead, Gavin. Oh, hey, good morning. Thanks for taking my questions, congrats on the strong results. Dan, you talked to the, you know, CAD 15 million increase in ARR in 2022, which is obviously a mix of organic growth and inorganic. I guess when you're thinking high level, you know, about 2023, when you look at the organic sales environment and the opportunity set on M&A kind of in front of you, do you think that you could maybe, you know, repeat that level of success? Is that within kind of the range of outcomes, or how are you thinking high level about the year? You know, the acquisition card's always a wild card, Gav. Like, you, I think we can, you know, we, you know, we already added one acquisition. There's There's stuff in play and, you know, it's, we're pretty careful. You know, we got cash and we wanna make sure that we use it properly, and we're generating cash now a little bit. We're not gonna make any mistakes on any acquisitions. I do see the visibility just based on our backlog and what our pipeline grows and some stuff to still add, you know, CAD 4 million-6 million of ARR next year, right? That part is there. Can we add another CAD 5 million, CAD 6 million of ARR through acquisitions? Sure, I think we can. You know, I'm not here to commit on it, but it's there. We don't run our budgets based off of having to do acquisitions. We run our budgets on what we have, and acquisitions are definitely a part. We wanna do them, at the same time, we wanna make sure we're gonna do the right ones. Yeah, that makes sense. You referenced the Q1 of 2022, which was just a blockbuster quarter from a sales perspective. I know that, you know, maybe will be kind of tough to repeat, but how are you thinking about Q1 of this year given U.K. fiscal year-end, the pipeline that you brought into the year, and how sales are progressing? Yeah, it's definitely not gonna be what it was last year. you know, that, it's all one-time revenue from Intouch, and that you know, there, that money's not available like it was, at that point. There's definitely a little bit of tightening of budgets in the U.K. for some of those products. We got deals that are coming over the line, and we have done deals that have come over the line really spread across all of our areas. We expect to still have a pretty strong quarter and, you know, and still progress in the proper fashion. I don't think it's gonna be like last year's, gangbusters, but it's still gonna be pretty strong. You touched on budgets and funding, which was kind of my next question, and then it wasn't really so much about, Q1 of this year, but given that, you know, the new fiscal year is starting, in a week in the U.K., anything that you're hearing from, you know, your customers on funding or IT priorities for the year ahead? Yeah. I think our solutions, especially our Transforming product, is really gaining visibility in the U.K. market, and we expect that product to continue through 2023. It comes from a different type of budgeting than our other products, ’cause it's more NHS, the government body that's buying it, versus the trust themselves. The trust budget seems to be less, and it seems to be tightening up, but there seems to be money floating around at the NHS level that flows down to the trust. I personally think it's definitely a little bit tighter than it was, but our U.K. team thinks there's still money floating around to do stuff, and they always seem to come through in many different ways. Time will tell. It's hard to really measure, but, you know, the conservative side of me says it is a little bit less, but, I wouldn't be surprised if we could knock some big deals out of the block, 'cause we got some interesting stories that are percolating in many different spots. Got it. Then maybe just on M&A, obviously you were very active in 2022, and, you know, obviously it takes some time to kind of integrate all these things. Maybe you could just give us an update on how integration of some of the recent acquisitions is progressing. I'm not sure if you have a sense of the total amount of kind of cost synergies which are yet to be realized? I still think, you know, some of the acquisitions or that we made were pretty complex development environments that are a little bit more challenging to integrate, but we're moving along to do that. Our Colombo team has ramped up to, like, 115 people. We tend to ramp that up, you know, and work in dual mode for a while we move things across or move things into different areas. We're in the process of doing that. There's, you know, there's definitely more to happen. It will happen all the way through 2023 into 2024. It's always work in progress. It's hard to identify i t, we've definitely made some cost synergies type of stuff, and we've moved some of those cost synergies into a little bit more sales and marketing expenses as we've ramped up some teams in Australia and Canada. To bring some of the U.K. products a little bit more robustness and into the Mid East to bring those products there. We are doing a little bit of investment in some of that to bring those over. We are getting some cost synergies. We're earmarking, we, you know, we won't do that at the expense of the Rule of 40. We're still trying to make that happen. We do believe some of those U.K. products needed a little bit more attention abroad, so we have done some work to move those, some increase in cost in those areas to get some sales and marketing going, but not at the expense of still, you know, producing what we need to here. Thanks so much. Very helpful. Congrats on all your progress. Yeah. Thanks. Thanks, Gavin. The next question is from Christian Sgro of Eight Capital. Please go ahead, Christian. Hey. Good morning, and thanks for taking my questions this morning. The first one I'll ask, when you think about 2023 and the backlog you commented on, where do you have the highest visibility this year on organic growth? Like, I'm wondering what you'd wanna share on, you know, anything you're seeing geographically or across your products? Yeah. I think the two promising products going into 2023 from our perspective is the TREAT product in Canada and the Transforming product in the U.K. Both of those are starting to get visibility at a higher government level versus just at the individual areas. The TREAT product itself, there's, you know, I think we saw a provincial announcement yesterday of the huge amount of spending going into the mental health children's area in the Ontario marketplace, and we got the leading software product. We're seeing a lot of attention in terms of that going on. We still have our Solicitor General deal, which we announced last quarter, which is in the process of being delivered, and it's producing a significant amount of professional services that we expect to go right through 2023 and 2024 as we implement that. There's still a fair amount of licenses to go through in that particular perspective. You know, these organizations all talk to each other, and they all get connected. You start getting a little bit of a pinball effect with these things starting to happen, and we're right in the center of that based initiative with the TREAT product. The Nova Scotia project is the outward-facing project called My Account, which I've been talking about for years, is finally becoming reality. All that stuff is starting to go through it. We're seeing some attention on the Transforming Systems stuff from a national perspective. You know, visibility into what it can do. We already got a big scale of that, but we're starting to see recognition of that at a pretty high level. The Hicom business, those guys generate. They bid on very large projects, and a very strong development group. They already have a pretty significant footprint in the U.A.E. market, and we're starting to see more RFPs and tenders for activity in that marketplace, which they already got some pretty nice wins, which they're, you know, they're pretty bullish on doing that. Hicom has this large project called Oriel, which already was doing over CAD 2 million in recurring a year, and that project keeps expanding on a quarter, you know, on an often basis and adding revenue to it. You know, we got a backlog of services work. We got existing customers doing work. We got new initiatives. The CDS business in Australia, you know, has consistently over years added business. We got many different ways to add revenue into the business now, as we, you know, as I said, as we get scale and more meat on the bone. I think you're gonna see a little bit more of a spread out type of revenue stream coming from us, and some areas will have down quarters and some areas will have up quarters. We got different ways to skin the cat here. Yeah. That sounds a helpful color, Dan. Thank you. I'll ask just one more question before passing the line. You touched on Canada quite a bit there, but just wondering, review on the pace of deployments. You said the SolGen contract was gonna be 2023, 2024. I guess between that, Nova Scotia, and everything else going on in Canada, so we expect a good pro services lift and then, you know, ARR to trickle through from? Well, I think we've already seen our pro services lift, right? I think it'll be continuous for a while here. As we add, you know, licenses to those guys and finish modules, we should see lift in ARR in both of those projects, I think more towards the end of the year, as we keep going through those projects. We do expect those to go through 2023 and 2024 with those projects. We're winning RFPs on other projects as well, not to the size of those guys, but they're still significant projects. Perfect. Thanks for taking my questions. I'll pass the line. Thanks, Christian. The next question is from Doug Taylor of Canaccord. Please go ahead, Doug. Yeah. Thank you, and good morning. The forecast for 15% organic top line growth, kindof CAD 800,000-CAD 1.5 million in ARR added per quarter, certainly the highest and the most confidence I've heard you talk about, the expectations for the future. I guess my question is: What's changed here that's, if anything, that's giving you that confidence in your ability to add that kind of revenue each quarter? Is it something about the combination and the acquisitions you've done, or is there something that's changed within your end markets that's provided that kind of visibility? You know, Doug, They're geographical markets, right? When you get, when you get the ball rolling with a particular product, it tends to bleed into other organizations, right? We're starting to see that on some of our product lines. We got a backlog just of our existing projects that we know, that once we get stuff implemented, the ARR is gonna grow on those particular projects, right? SolGen, the Nova Scotia projects, a lot of the Hicom work, which, you know, it's not there yet, but we know that once we implement it's gonna get there, and sometimes these implementations take longer than we think, but eventually they get there. That's what gives a little bit more visibility into what we can do, plus you still are getting newer business, right? Yeah, you know, we're the Some of our product sets, I'm not as bullish as I was before, but some of them I am. You know, things can change there. A lot of it, if you look at our deferred revenue, there's still a fair amount sitting there, you know, that we just keep tapping into. There's, I think, you know, Canada alone, we've got a very big backlog of professional services work that we're, you know, we're puffing and puffing our way through here, and the teams are working hard to get through. The TREAT product is challenging to implement, but once it's there, it's good. We know that there's projects going on, and we know that there's other customers that are watching these projects and will need to go through those same initiatives. We think we're gonna get a little bit of inertia off of that in a lot of our areas. Okay. Within the Canadian market, you've mentioned, you know, some of the increased emphasis in spending on mental health. I mean, stepping back, we've seen obviously the, you know, federal government make cut deals with the provinces on some transfer payments to help fund healthcare expansion. I know a lot of that's primary care and areas that maybe you're not necessarily directly involved with. Can you speak to what you're seeing in terms of the behavior of your customers in the Canadian market and your ability to participate in some of that, you know, increased funding? In the mental health area and in the children's mental health area, the two distinct areas, there's a ton of reorganizations going on and amalgamations of these community agencies into larger entities. As part of those, as part of that, they're ramping up new digital systems to help bring those things to light, and that's where a fair amount of that funding is going, is they're revitalizing those organizations. Some of those are just work around these old archaic systems that might've been homegrown or, you know, other entities, of which we bought in a bunch of them already, in that particular marketplace. We've had a strategy to become the leader in that community agency mental health space, Ontario, but also Canada-wide, and it's starting to work. We're seeing money going into restructuring these organizations fundamentally, into more robustness and, you know, they're putting new CEOs, new management teams, new. You know, they're just revitalizing them. That's where the funding, we think, is coming into a fair amount of this stuff. You know, part of new initiatives is putting a new digital system in which they put tenders out for and we've been winning some of them. Okay. It sounds like still more to come, mostly in the mental health area. Yeah. In that area. We're, you know, we're also bringing, you know, some of the U.K. systems into Canada. I think we, you know, just announced that deal in Winnipeg, which is a city system where the TREAT product, the Transforming product is going in. That, we finally got that one project where we got high governmental visibility into the product. They love it. It's, you know, it's not formally live yet, but it will be very soon, and we think that will be that showcase account for that product. We're hoping we can do in Canada what we did in the U.K. with that product, but it's early days still. All right. One more question from me. The prospect of 25% Adjusted EBITDA margins that you mentioned, the other, kind of the other side that gets you to that Rule of 40 alongside the 15% organic growth, from the kind of 22-ish% level that you've been, you know, clipping at over the last couple quarters, are you messaging that you expect to migrate up towards 25% by the end of this current calendar year? Would that be a reasonable timeframe given, you know, the integration roadmap you've got with the assets that in your portfolio right now? Yeah. Listen, with the You know, if you start, if you theoretically think we're adding CAD 1 million per quarter of new ARR, and that's high margin-based business, and you know, you sort of limit your expense level or just don't increase it that much, theoretically, that should start coming to the bottom line, right? It's a question, do we hit the numbers? Do we get the synergistic value? Can we get it done in time? Can we execute on that stuff? Yeah, we, you know, we're, we've invested a little bit of that money back into sales and marketing, a little bit of a bet that we can grow some of those other verticals. That might not happen as much in 2023, but it. We do think we needed to make a little bit of investment for 2024 to get into some other markets with those products besides the U.K. We are doing a little bit of that. Yeah, I think we can. I think we should. You know, if it's not gonna be at the end of this year, it'll be early the next year, but I think we can get there. You know, we just got to, every quarter we're gonna add more recurring. I don't know how much, but we'll add, and it should come, you know, a chunk of that should come to the bottom line. Okay. Thanks for answering my questions. Thanks, Doug. The next question is from Gabriel Leung from Beacon Securities. Please go ahead, Gabriel. Morning. Thanks for taking my questions and congrats on all the progress. Just got a couple of questions. First, Dan, you talked about, you know, being pretty excited about the TREAT and the Transforming Systems pipeline heading to the current year. Are you able to talk about, you know, what does that pipeline currently look like? I know those are sort of bigger ticket items, maybe longer lead times. You know, can you sort of quantify for us, you know, how many sort of deals you're working on within those two product sets, you know, sort of ticket sizes and, you know, where you are along the sales cycles for some of these deals? The TREAT product, I think, you know, adds anywhere between, like, I don't know, CAD 50,000-CAD 250,000 of ARR on each transaction, depending on the size of it. You typically get that amount of professional services, you know, double it for implementation. If it's CAD 100,000 of ARR, you'd probably get CAD 100,000 of services as well. That goes along with that particular route. Yeah, you know, we're, you know, we're starting to add, you know, two, three deals a quarter it looks like here on that particular product set, and some big, some small. You know, there's a significant When that product gets implemented, that's the one product we're not afraid to do some development work, which the customers pay for as part of those implementations, so that comes along with it as well, but that's probably where it is. Transforming Systems to be in the same level, two, three deals, a couple deals, two, three deals a quarter type of thing. you know, they tend to be chunkier deals, probably, I don't know, CAD 250,000 are our average deal type of thing, right? That they do. there, and there's deals going, but we're starting to see some more visibility, as I said, on a national scale for that product. I, you know, I don't know. You know, I'm always reluctant to say what that pipeline is, 'cause, I've seen stuff where it doesn't happen, and I've seen others where it just surprises me, right? Government tends to move in spurts, and sometimes we think it's happening and it doesn't, and other times we think it's something's happening and something bigger happens because the money's there all of a sudden to go do it and they wanna go do it. We just keep going. I still like to just use my guidance. I think we're consistently gonna add between CAD 800K and CAD 1.5 million per quarter. Sure, there could be variations to that here and there, but, you know, that, I think predictability, we should be okay with that. Gotcha. Just in terms of, I guess the margin expansion, near term anyways, if I look at some of the cost synergies out of CDS, ADI, and I guess Coyote in Q1, would you anticipate, you know, either the margins improving in Q1 combined with the sort of the revenue base you had right now, would you expect an improvement in revenue in Q1? Yeah, it all depends on how much one-time revenue we're gonna produce, right? Like, you know, it's all, w e keep telling our group, "We want recurring revenue, we want recurring revenue." Then come March, you know, come the end of the quarter, I'm begging for one-time perpetual revenue and services revenue, 'cause it's the only thing we can do to change the top line to get the margins, right? So it all depends on how that all comes to work in terms of what we do. But, you know, I do, we do want it to go up from where it is, and we're trying to get it there. Gotcha. Just one last thing on M&A. I think I may have asked before, but I think previously the, you know, potential acquirees were still, you know, hanging on to relatively high valuations in terms of what they want. Have you seen, you know, valuations the last couple of months perhaps come a little bit lower or get to a bit more reasonable level for you guys? You know, it's the same. Every deal is different. Every person has different ideas of what it is and, you know. A lot of our acquisitions are owner-operated businesses that aren't really VC funded, and it. You know, this is their life or their savings or their future and, you know, and their lifestyles or all that other stuff. It all depends on where they are in their, you know, where that company is sitting, what its values are, where it's going, which really stipulates the valuations. I think most of our acquisitions have not been bidding processes. It's just getting to know operators and, talking them through this type of stuff, you know, on a, on a regular basis. Eventually they're saying this makes more sense to do it. You know, so that's my comment on that. Like, we're gonna pay what we think it's worth, and if it is, it is, and if it isn't, it isn't. You know, we'll pay a higher valuation if the business is good and it's growing. If the business isn't growing and, you know, it's sort of flat, then we're not gonna pay that, right? I think we've got enough history with our acquisitions of how we do that and what our models are, and I think that will be consistent in terms of where it is. You know, it's like the housing market. Sure, the prices have gone down, but there's not as much for sale. People still wanna get those values for those houses. Yeah, I don't think pricing has changed that much, and it hasn't changed for us in terms of how we look at things. We, we don't really look at it that way. We just look at it for what it's worth to us. Gotcha. No, I appreciate that, and congrats again on the progress. Yeah. Thanks, Gabriel. The next question is from Richard Baldry of Roth Capital. Please go ahead, Richard. Sorry, I think I was muted. Welcome. Welcome aboard, Richard. Thanks. Maybe given some of the investments you're making in sales, could you recap a little bit your, what you view your sales capacity versus, you know, sort of productivity, maybe average tenure, given, you know, how important sales productivity is with tenure? Any open seats, hiring plans? Just broadly recap sales. Thanks. Yeah. We definitely got a bigger sales and marketing expense in our U.K. market segment. We do a significant more of sales and marketing in those particular marketplaces. It's been where our growth has come from, we got a bigger team. We got an insight group, and we got outside sales reps and we invest a significant amount in account management to maintain stop churn and also for add-on sales. We have that going in there. We just have recently ramped up resources in our U.A.E. market that have experience in terms of doing that. We've just, with our CDS acquisition, we've ramped up a Intouch deployment team, support team, as well as sales teams in the Australian marketplace for the Intouch. We've added some sales people with some experience in the Canadian marketplace to sell the Intouch and the transforming product and the Synopsis product sets in the Canadian marketplace. Yeah, so that was budgeted going into 2023 and we're ramping those resources up. They're good sales reps. You know, where they've been in the markets for a while, and they got tenure. Most of our sales reps have been selling these products for 5 years- 10 years and have a lot of experience in this particular space. We rely on that expertise and tenure to go sell. I think given people are viewing the market as so sort of high risk right now, can you talk about the defensibility of your ARR base and maybe specifically any changes you've seen in your net retention or overall retention rates? Like our churn levels are still, I don't know, 3-ish%, 3%, 4% level. Churn happens once in a while as Churn happens for, in our particular business and for a bunch of different reasons. Sometimes money is given to these organizations too quickly, and they don't actually. And it's one-time envelopes, and they actually don't get the stuff implemented correctly or properly. The regime changes in those particular organizations, and they go, "Well, we haven't really got this in place anyways. And we don't have any money in our operating budgets anymore because it was a grant to begin with, and we're just not gonna continue with it, or 'cause we never really got it started." The other reason churn happens is just on mergers. You know, this place merges with that place, and they just redo all their digital systems, and we get locked out of something. Those are the two primary reasons we get churn. We know why. We've, you know, that's why our team's focused on getting the stuff implemented, on getting them using it. Once they're up and running and using it becomes mission-critical. You don't really get that much churn unless there's a total restructure of the place, of their Epic. We don't have much of that going on in our base, and it's only for our hospital-based system. Does propose a threat sometimes if it comes in because it just, they just erase everything. That's what their strategy is. Epic can be a little bit of a risk, in some of our organizations. For the most part, you know, I think we've got lots of years of experience. The churn has been minimal here in this government-funded based systems. If you get it in there, you're pretty good. Last for me, given the, you know, the backdrop of the, you know, fairly depressed valuations, do you think how you approach M&A sort of changes short term at all? Maybe thinking about how much stock you use or earn-outs, you know? Because you can show the companies you have the ability to offshore some of their costs, increase their core profitability. Do you think they'll be more likely to sort of longer term focus deals where the value comes out over time as they prove what they can do and maybe I think in, you know, I think that makes a lot of sense if we're trying to do like a bigger acquisition, a little bit more transformative. Definitely, being able to use that and you know, in those rare circumstances in our area, we got like a VC-funded organization or someone that's raised a lot of capital, and they actually can't get to profitability because they just don't have that ability to do it or anything really high there. Their, you know, their organic sales have stopped or trickled down, and they got a really big development costs. They're still sitting on a significant amount of cash, but it's going down because it's operationally. Those are scenarios we'd like to see. There are a few of those out there that we're poking around at 'cause I think we can bring something to the table with our offshore development group and our currency and our ability to restructure that into a winning business. We look for those. We want those. Trying to make that happen is a different story. We definitely are thinking about those type of deals for sure. All right. Maybe final question. Now that your Adjusted EBITDAs up to a pretty meaningful level, maybe talk about your willingness to use that to deploy leverage as opposed to, you know, cash flow or, equity for M&A. Well, we sort of got some leverage already in our ability. We think it's there to go do it. We're generally pretty conservative people. We would go into that line of credit if, for something that makes sense. I think we're saving that for, you know, something that's a little bit more transformative. You know, we're still sitting on CAD 17 million of cash, and we're generating cash. We think that cash balance can help us do these small little acquisitions. Interest rates are high, right? It, you got to be careful on leverage. We would use it in the right circumstance for sure. All right. Congrats on a great quarter. Thanks, Richard. I do not see any further questions. I would like to thank everyone for joining us this morning. With that, I will hand over the call back to you, Dan, for your closing remarks. Thanks, everybody. Nothing really more to add. I think the questions were really good. I think we added some pretty good color on where we are. I'd like to think we're in a pretty good, predictable state. you know, everything seems to be going well. We'll have some good quarters. We'll have some maybe not so good quarters. Bear with us. I think, I think the moral of the story is we got a big base of recurring revenue, and we're still adding, and we expect to continue to add. We look at this from a long basis. That's just the way we are. The Shans, which are our big investors, are the same way. What, you know, steady as you go. Sometimes it might be a little bit boring, but that's what we're about, and we're just trying to make things happen. Thanks, Dan. Thanks, everyone. Thanks, everybody. This concludes today's call. Bye-bye. Have a great day.