Hi, good morning, everyone, and thank you for joining us today for our 2024 fourth quarter conference call. With me on the call today are VitalHub CEO Dan Matlow and CFO Brian Goffenberg. After our prepared remarks, we will open up the line to questions from analysts. Please press star 1 or use the raise hand function to indicate that you would like to ask a question. Before we begin, I'll read our cautionary note regarding forward-looking information. Certain information to be discussed during this call contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those set forth in such statements. For a discussion of these risks and uncertainties, please review the forward-looking statements disclosure in the earnings press release, as well as in our SEDAR filings. As well, our commentary today will include adjusted financial measures, which are non-IFRS measures. These should be considered as a supplement to and not a substitute for IFRS measures. Reconciliations between the two can be found in our SEDAR filings. With that, I'll hand the call over to our CFO, Brian Goffenberg, to go over financial highlights for the quarter. Over to you, Brian. Thanks, Christian. Good morning, everyone, and thank you for joining the call today. We are pleased to report the results for the fourth quarter and full year of 2024. The fourth quarter was a record for us, for the first time achieving over CAD 20 million in revenues, over CAD 5 million in adjusted EBITDA, and organic ARR growth of CAD 2.6 million. Our progress over the full year reflects the success of our two-pronged growth strategy to deliver organic and acquisition growth. On an organic basis, we grew the annual recurring revenue by 15% in 2024. As well, we closed four acquisitions in the year, growing our annual recurring revenue base to over CAD 70 million. We are well positioned and well capitalized to continue on this growth strategy. In a moment, Dan will provide commentary around the business and the outlook. First, I'm excited to share with you the financial milestones we achieved in the quarter. Detailed full year results and support can be found in our SEDAR filings. For today's call, I will go over select highlights from our fourth quarter. Our annual recurring revenue was CAD 71.1 million to close the year, an increase of 59% over the prior year. In the fourth quarter, total revenue was CAD 20.6 million, an increase of 51% year over year. Recurring revenue, or term license maintenance and support segment, comprised CAD 17.17 million, or 86% of total revenue. This compared to CAD 11.3 million, or 83% in the prior year period. Perpetual license revenue was CAD 100,000 in the quarter, a decrease from CAD 300,000 in the prior quarter. Our services, hardware, and other revenue was CAD 2.9 million in the quarter, an increase of 42% year over year. Our gross margin was 81% of revenue as compared to 83% in the prior period. Moving down the income statement, net income before taxes was CAD 0.2 million compared to CAD 2 million in the prior year period. With two acquisitions closing in the fourth quarter, we recognized CAD 2.6 million of business acquisition, restructuring, and integration charges as compared to only CAD 300,000 in the prior year period. Adjusted EBITDA for the quarter was CAD 5 million, or 25% of revenue, compared to CAD 4 million, or 29% in the prior year period. Turning to our balance sheet, as of December 31, 2024, we had cash on hand of CAD 56.6 million. Subsequent to year end, we completed a bought deal financing for total gross proceeds of approximately CAD 34.5 million. We have no debt currently and recently expanded our borrowing capacity to CAD 65 million. This, in combination with our strong cash generation, which gives us significant financial flexibility for growth in 2025. With that, I'd like to hand the call over to Dan for an update on the business. Good morning, everybody. I'll try to give everyone a little bit of outlook and commentary on the quarter and then turn it over to some questions and hopefully fill some of the gaps that the entire people might have. I just want to recap what our strategy is. I know we're starting to get some newer people starting to look at the story and have done a lot of investigative work. Just as a reminder of our approach, we're a healthcare IT software company primarily focused on single-payer-based systems, which is outside of Canada, the U.K., Australia, and the Mideast are our primary areas where we market products. We have a two-pronged approach of acquisitions as well as M&A with a very high-powered synergistic-based model that is really geared to organic growth and some really good cost rationalization in the strategy. What 2024 was, in my opinion, was just, again, more definition and concrete awareness of what the model can do and what the ability of what the model can do. It was a good proof of what our model was. I think the real important thing for 2024, from my perspective, although the results were great, was really internally within the company. I think the awareness of what the potential of our model do and really the synergistic approach internally of the staff and the excitement of our staff of what our model is and how effective it can be and really the understanding of what this can be from a growth perspective. That was something exciting, and it is something that might not be visible to the investor approach, but definitely visible internally with the company. We are excited what that was about. The fourth quarter, yeah, was record ARR, and really it came again from multiple base sources. In Canada, the Treat continues to add customers and the service backlog is still really, really high for that product in terms of delivering those solutions to our customer base. The province of Nova Scotia still keeps kicking on in terms of adding users, and we started to see some increase from the Strata-based business in the Canadian market. The nice part about Strata is it continues to grow. As new pathways become available and as new areas of use come available, we start extending that solution, and that leads to increased ARR. We're starting to see some synergistic approach of Strata with our Treat client in terms of doing referrals in the community agencies and the mental health. A lot of our bigger clients have started to approach us as using Strata as their solution, as opposed to alternative solutions in the marketplace that could be out there such as Ocean, etc. We are excited that we are bringing in some new life into that community agency for the Strata-based product that is out there. In the U.K., it continues to move along. Shrewd definitely continues to add stuff. We are starting to see some impact from InTouch again. It was a little bit quiet over the last year. It did work, but we are starting to see some increased work in that area. The Oriel product and Hicom continue to add users on a regular basis. All of this is leading to increased ARR. We continue to work on cost rationalizations. Our Sri Lankan team is up to close to 200 employees. We've started the work in getting the Sri Lankan group primarily working on the Strata-based solutions. There are AI initiatives that are in place that we are working through in terms of add-on solutions that we hope to introduce into the product over the next year. We are hoping that that starts increasing revenue as well as we continue to grow. We are comfortable in terms of where our ARR figures are, and we continue to move along. Typically, Q1 is somewhat of a strong quarter for us. You never know, but we like some of the activity that continues to work on as government year-ends keep moving through there. On the acquisition side, we got lots in play. As the awareness keeps approaching, the more acquisitions that start coming to us is starting to increase, and our pipeline is continuing to grow. We do have CAD 90 million that we're sitting on in cash, and we're looking to deploy that as effectively as we can, making the right decisions in terms of solutions that we think add value and are synergistic to our approach that we can increase our organic growth in terms of a strategy of how these things fit together from a cohesive narrative. We're proud of what we did in 2024. It's already March of 2025, so it's hard to think of that. We are well into Q2 planning in our company, but it is a good time to reflect on what we have accomplished in 2024. We look forward to 2025 and continuing to perform in the same way that we have before. Happy to turn it over to any questions that anyone might have. Thanks, Dan. We'll now open up the line to questions from analysts. Please press star 1 or use the raise hand function to indicate if you would like to ask a question. Today's first question comes from Gavin Fairweather of Cormark Securities. Gavin, your line is open. Good morning. Thanks for taking my questions and congrats on the strong numbers. Maybe just to dig a little bit deeper on kind of Strata and MedCurrent, I know a big part of the investment thesis there was kind of plugging those products into your sales team to accelerate growth. Maybe we can discuss where we are in that process and to the extent that you're seeing pipeline increasing post-acquisition on those deals. You know, still early days. We just got it three months ago, but MedCurrent continues to evolve. There's a lot of activity going on in the U.K. from it. It's sort of that team there just continues to plod along. They were plodding along before. We've had some things that we're going through there. They keep adding deals and continue to add deals on a regular basis. We continue to move forward there. We haven't really done much in terms of technology integration or things like that with the lab yet. It's a pretty tight, small group, and it's really set up organically to continue to make money, even though without many changes to it. We are introducing that to our U.K. team and to our Australian teams. They're getting equipped to build leads with that in the Canadian team as well. Things are done. Strata, yeah, it's definitely more synergistic than MedCurrent is, although MedCurrent is as well. Strata really hits the bull's eye in terms of what we do. We're seeing a lot of activity, and we expect a lot of activity in the referral business, not just across all of our geographies. We expect that. That's a big issue with healthcare in terms of integrating all the disparate patient pathways. It's an issue that's there. Strata has a really good solution that we think will really do better with how we market it and how we integrate it to some of our ideas. We are seeing definitely an uptick in the U.K. pretty extensively. We are seeing a lot of activity in the Canadian marketplace with our Treat customers, especially on the large size, which are looking for pathways and referrals into their organizations where they take referrals. If you can think of all the referrals that get referred into mental health and community agencies and the size of what our install base fees for Treat product. We already started working on a Treat integration with Strata before. That is being polished up, and it is ready to go. That is really what is going on with those two products. Appreciate that, color. One thing that stands out in your 2024 results is just how efficient you are in turning your sales and marketing spending into ARR organic growth. Curious if you're seeing any opportunities across your regions to add a bit more sales investment and generate even higher ARR bookings. Yeah, we're adding a few new people into it. Really, a focus of 2025 is to beef up the operational expertise of our sales team. As you can appreciate, we're a bunch of small companies that have had salespeople and have used approaches before that have made them successful. We feel that we can get our sales and our customer success people to the next level by increasing a little bit more structure and investing in tools to automate those processes and really trying to put our Salesforce system on steroids and our other marketing systems on higher value props. We are going to have an emphasis in terms of what we can do from productivity tools to really get our Salesforce up there. There could be some capital expenditures that go with that or some operational costs as we invest in those tools. I don't anticipate it's a large increase in headcount. It's more efficiencies and how do we mine these accounts more effectively in a scientific process. That's a little bit of emphasis that's going to start going into 2025 into the organization. Got it. Lastly, for me in the U.K., I saw the news recently that the NHS England is kind of folding into the Department of Health. Curious for your take on how that could influence ARR bookings in the near term or the longer term, if you're seeing anything in Q1, and how the team feels about that structural shift over the next little while. Yeah, it's concerning in a little bit of ways and exciting in other ways. I really think the concerning part about it really comes from the unknown factor of where this is going to sit. We haven't seen any impact of it yet, and we're not sure we will see any impact negatively or positively, but it's the unknown that's really there. What we do know is our systems are used, and they're happy, and there's interest from all levels of government to digitize the NHS in a more efficient manner. We're right at the center of it. When we speak to our customers and we speak to the people, they keep stressing that message across to us. They keep saying, "Hey, they don't think that this part is going to be impacted." Yeah, we really don't know that answer as of yet of where it goes. You always get concerned when there's change going on. We think overall that change will be positive in terms of the focus of how digitization works and so forth. It will take time for that change to work through the system. We expect them to be still investing in systems during that process. No one's 100% sure how this will all go, and we'll just have to keep monitoring it and keep going from our organization. The good part is we've got a huge install base, and most of a big chunk of our sales are add-on sales to those particular groups. It's not new initiatives, and it's usually a lot of the time. We expect those add-on sales to continue for sure. Appreciate it. Thanks so much for passing along. Thanks, Gavin. Next question comes from Doug Taylor of Canaccord Genuity. Doug, your line is open. Yeah, thanks. Good morning. I'll echo the congratulations on a strong finish to Q4 and to 2024. It sounds like top-line synergies from the Strata and MedCurrent, or Strata at least, are already starting to show through. The margins also for the business overall held in pretty well despite the two acquisitions in that quarter being, to my knowledge, at least starting below VitalHub's corporate average. Maybe I'll get you to speak to the integration steps and stage you're in now with the benefit of a couple more months behind you and the considerations as we try to map the linearity of any margin compression and then the subsequent expansion that was anticipated for the year. Yeah, we knew exactly what we were going to do with MedCurrent and Strata, and we moved pretty quickly to get some changes. The two organizations came in with pipeline already that we knew was looking to close. We knew that when we did it, and those deals did happen from what they said would happen. That was a good part of why we did some good ARR for the quarter. Will that continue? I don't know. Both those organizations have solutions that are in demand, and they continue to add value. We still had work on the cost rationalization to do in the company outside of Strata, and that continued to happen and still continues to happen. We've looked at the organization and have done some more combinations, especially in the U.K., to get some cost-effectiveness going. We continue to move stuff into Sri Lanka. That is really where that is going. We have not done much cost-synergistic stuff on both Strata and MedCurrent. There is some stuff that has happened for sure. You can see that in the restructuring and so forth that was put to that quarter. I do not know if that helps you answer your question. I think we were 25% in Q4 versus 28%, but 25% of a bigger number is a bigger number, and it is still pretty good. I think we can get this thing back to 28% again, and that is what we are trying to do here. I mean, maybe to put a finer point on that, you said you're expecting typically strong seasonality in Q1 as it relates to ARR build. We're only a couple of days from the end of the quarter. Based on what you just said, I mean, should we be expecting, as we get MedCurrent and Strata for a full quarter here in Q1, for there to be any EBITDA margin compression from the 25% level? I mean, do you see that as a good place to start the run rate with these acquisitions in the fold? Probably a good place to start, I think. What's that? Brian? Probably a good place to start, Doug. You always get some additional costs with any acquisition. There are IT things as we move over, some infrastructure costs and adjustments to compensation and stuff like that. Then as we get more synergies, you'll start seeing the margin, I think, compressing as we go forward throughout the year. Expanding, I think you mean. Yeah. Okay. I mean, you've been able to move quickly there. That's great to see. One last question for me. You're pretty explicit in both the press release and your comments you've made here so far about your ability to keep up the pace of M&A after closing last year with a couple of medium-sized deals. You say there's a lot at play. I mean, have valuation expectations shifted in your favor here as well? Or is there something else that's giving you confidence to make the statement that you're going to be able to keep up this pace? I just think it's the deal flow, right? Yeah, there's some deals that are value compression that are a little that are distressed out there that are somewhat attractive to us just based on the ARR and the ability to take those companies and potentially turn them around scenarios that are out there. On the bigger side, I don't think there yeah, there's some reduction probably than the past, but it all just depends on the asset and the competitive nature of the bid really, Doug, that drives that. I think on the bigger acquisitions, there's not as much reduction. We're not seeing it. A good asset is a good asset. On the smaller side, there's some struggling companies out there where we're seeing that we can take things over. It might be some work in progress, but at the end of the result, we can make some good money at those things. We are seeing it on both sides. Okay. I'll pass the line. Thanks. Thanks, Doug. The next question comes from Salman Rana of TD Securities. Simon, your line is now open. Good morning, everyone. Congrats on the strong Q4 numbers. Salman on behalf of David. First of all, my question is on how much activity, Dan, do you think has moved to Sri Lanka with respect to the Strata and MedCurrent acquisitions? What do you think is still planned or in the works there? It takes time to move things over there. We've started to ramp up people in Sri Lanka for Strata. The Strata team was over to Sri Lanka in Q1. I think they've got projects that are kicking off there. We're starting to kick off projects to move things and get expertise moved over there. Yeah, that's all started to happen. MedCurrent already runs a very small development group. The IP in that company isn't the tech, although the tech is very good. It is still pretty comprehensive. It's really in the clinical aspect of that product that is the driver to that solution. It's already a very cost-effective-based organization that just needed to get its sales up and get that 80% margin ARR into the business to start getting the returns that we want. In that group, we're just being patient and waiting for that pipeline, which it seems to continue to add and is getting closer to our rule of 40. When we get our companies and we do that, we always look at what is it going to take to get it to the rule of 40 and put a plan in place to get it. We start executing on it. It doesn't necessarily happen day one, but we look for an approach to get it there within three to four quarters for sure. We're on our way with those two organizations. Understood. Earlier on in your commentary, you talked about Strata and bigger clients starting to take a look at that. I'm just wondering, what do you think is differentiating Strata versus other solutions out there versus OceanMD? They cross paths in some places, but really, they've got their own separate rails. Ocean is a physician referral system. It goes from a physician out. Strata is more of an enterprise-based system where it works from the acute care, from the hospital out to the community. It goes inward out, where something like Ocean would go outward into the acute care. They also go clinician to clinician. I think clinician to clinician is really where their sweet spot is. We're really more geared to a larger enterprise-based system. They do interfere in some places. I think they got their own lanes that they run in. Understood. Have you seen any material changes in the sales environment lately because of the ongoing macro challenges, like the potential headwinds we could see from the tariff/trade war? Are you seeing any sales cycles lengthening? I don't. The tariffs don't affect our industry at all, right? You're talking about healthcare. I don't think government, I don't think there's anything the U.S. can really do to affect our internal healthcare systems in the U.K., Canada, Australia, or the Middle East. None of that affects us at all. Okay. Just one last question for me. Given your sequential organic ARR growth was, again, really solid, it's been in the $1 million-$2.6 million range for the last two years. Do you think your target of adding $800,000-$1.5 million is pretty conservative at this stage now? Yeah, it's probably conservative. We could probably take that up to 1.1-1.7, 1.8 type of thing. I've been in this industry for 30-something years. I understand government healthcare, and I understand feast and famine and really approaches. I still also understand that the way our products work, right? There's opportunity to really have a lousy quarter in here. There's opportunities to have an amazing quarter. I think we are starting to get enough products in our suite that one will pick up for the other to really get some consistency in there. I don't have visibility into like, "Oh, wow, the pipeline is strong, and we can do things." I don't have visibility into like, "This is going to be record all the time," right? I am conservative by nature. I'm going to be there because I don't want to be on the other side of this phone someday. We continue to strive to build as much ARR as we can. We're pretty bullish that we can. At the same time, I want to be conservative. Thank you. That was great color. Thanks, Simon. The next question comes from Richard Chu of Scotia Capital. Richard, your line is open. Morning. Thanks for taking my questions. Congrats on another strong quarter. I was wondering, can you provide further color on the composition of ARR added in this quarter? I know it was very well balanced between the two markets. Were there any particular products that did better or any big wins that you had? As I said in my narrative, it really was spread across. I think we had a couple of Shrewd deals in there. Nova Scotia continued to add users. We had some Strata expansions in there. We had some MedCurrent deals that got live and started recognizing revenue in the quarter. Our services was pretty good for the quarter. That added to it. We had CVS was a contributor in Australia that quarter. Intrahealth c ontinued to add new deals and continue to do that. We started to see an impact from the Caseworks and Coyote products as well in the Canadian marketplace on the smaller government agency. It really was spread across. There is nothing that really stands out as, "Hey, here was there was no million-dollar ARR deals," if that does anything. I think there was a lot of transactions that happened in the quarter and a lot of smaller ones. Okay. Thank you. I know you mentioned you're not seeing any tariff-specific headwinds. Are you able to offer any additional color on ARR trends in Q1 so far, given we're almost through the quarter? Yeah. Yeah, I'm not comfortable in terms of doing that. CAD 2.6 million is a pretty high goalpost to get to. We knew we were coming into some deals from Strata and MedCurrent that were in the works when we got this accomplished. We were excited to get those over the finish line. We still got a pipeline. It is Q1. CAD 2.6 million could be hard to get to. We got things in the works, and we continue to do it. Yeah, I'm not prepared to put any guidance at this point. It's sometimes challenging to get bookings into recognized revenue. Although we see things, it doesn't mean from a RevRec perspective that's going to come through. Just not comfortable at this stage. Got it. Thank you. I'll pass the line. Richard. The next question comes from Michael Freeman of Raymond James. Michael, your line is open. Hey, good morning, Dan, Brian, Christian. Congratulations on closing out a great year. I'm the new guy, so happy to be the caboose here. I'm curious if you could describe some of your areas of your toughest, most direct competition in winning new customers. You mentioned Ocean a few times during this call. I wonder if you could highlight a few other areas. There's other data platforms in the NHS. There is a company called Radar, which we compete with in the NHS on the Shrewd side. InTouch, there is some—I'm sorry, with Treat, there are smaller players. We sometimes get into the Telus competing and sometimes into the AlayaCare. Sometimes we are competing with the big EHRs, depending on what is going on there. It is hard to say where that sits. There are a bunch of small players that would compete in there. InTouch, we start competing. Epic has its own kiosk-based strategy. Sometimes they use it, and sometimes they do not. Cerner has other partners that they have done kiosk work with in the U.S. that you start seeing floating around once in a while in U.K. bids. They come from different angles depending on the solutions. The space is really serviced by just a lot of smaller-based vendors that are there. I think MedCurrent doesn't really have any competition. Some group out of Ireland came through the other day attempting to try to do where it is. They haven't seen it before. Yeah, that's sort of the way this landscape is, Michael. Okay. That's super helpful. I appreciate all that color. I'm curious now. You mentioned the deployment, or at least the preparation of AI by your Sri Lankan team to extend some of your products. I wonder if you could describe more sort of how you intend to leverage AI into your businesses and just your overall AI posture. Yeah. The EHR product, the Treats and those things, scribing is a big one, right, in that world. There is a lot of progress notes and things that are coordinating it. We are the electronic record for these organizations. Adding that functionality makes a ton of sense. It is an easy win and an easy upsell into that base. That is one that we are definitely focused on. Things that are predictive, like our MCAP product, which is a clinical criteria-based product, it makes sense to, as opposed to data entries, extract that information out of the EHR and apply it into our criteria to get the results, as opposed to having the frontline caregiver enter that data into that product. That is another one that is visible to us in terms of what we can create out there. Those are our two examples. MedCurrent already has AI initiatives that they've started and already have some of that stuff approached in their product in terms of predictability and should patients go through imaging or not go through imaging as a predictive analysis. It is a light version, but they continue to work on that. Those are examples of three. There is some other work going on on the Shrewd side and the predictive side there as well. Some evidence of some things that we're trying to do. Okay. Thanks, Dan. If I could shoehorn one more in here. You mentioned just basically as your portfolio expands, you might be able to smooth out, the way you described it, the potential for you to have a tough quarter in organic ARR growth. As you think about the acquisitions of new businesses, what kind of businesses are you seeing out there that would best complement your portfolio? Are you thinking about broadening your capabilities or going deeper into a customer set? Yeah. I think broadening our capabilities and going deeper in our customer set is the same thing. The more solutions we can get, the more comprehensive we can talk to those customers. The more narratives we can have of, "Okay, you got this one product. Here's some ideas of how to extend this into others and what our approaches are and what we can do for you as an organization." We look at all the pathways of patients and how they move through the healthcare system and all the different ideas that people have come up with in terms of streamlining that approach, be it from an analytical perspective or from an end user's perspective or how they can streamline those processes and make it better. We look for evidence that those solutions have been rolled out at customers and customers are actually getting the benefits of those systems. It is comprehensive enough for us to continue to grow those solutions out there. Yeah, the pathways are really big, right? There are lots of different ideas and approaches on how we can get patients moving more effectively through the healthcare system on the patient flow side. We are looking for solutions all the time on how that can help. On the EHR system, yeah, on the EHR front, we are just looking for similar systems that might be a little lighter weight that will eventually upgrade to a higher value-based system such as Treat and trying to get that install base and see what we can do to lift that. We have been successful in doing that in Canada. We are looking for acquisitions where we can continue to do that. Okay. Terrific. Thanks very much, guys. Hope you're looking forward to a great 2025 and very happy to be up on the name. Take care. Thank you. Thanks, Michael. Next question comes from Gabriel Leung of Beacon Securities. Gabriel, your line is now open. Good morning. Thanks for taking my questions. I wanted to ask about your Canadian business. Obviously, that's bulked up with the recent acquisitions. Given the buy Canada sentiment, I imagine your hit rate can only improve at this point. Obviously, a lot of tailwinds for Canada. Dan, can you just talk about what you're seeing in terms of the pipeline here in Canada, maybe the size of some of the opportunities you're working on and timing for some of these opportunities? Yeah. I never thought it would. In Canada, we do get a little bit more influence of US solutions coming into the marketplace. Our sales team did tell me the other day that they spoke to some organizations that I won't mention that, "Yeah, we're looking at this." They have actually told me to remove that from the buying process. We are just going to look at you guys from that perspective. I never thought I would hear it. We did hear that in a couple of different places. It is a good question, Gabe. Anything you can talk about in terms of maybe the quantum of opportunities you're seeing or expect to? Still early days. This just started, right? You do not see a ton of U.S., you see the bigger solutions in the Epic and the Cerners of this world. Will that sentiment change? That could be interesting if it does. I do not expect it. It could if this continues to go on, right? In my personal belief, it should to some degree. There are better answers for those equations. I think there are no Canadian vendors that can actually do what they do. I do not think that will change. There is a company called Meditech, which has started to go into it, does the smaller hospitals. It does go into the community and the rehab-based world to a different degree. That could see some issues with those guys in that market for sure that you would see. Yeah, for the most part, the competitors that we see aren't US-based. Although you are giving me an idea. There is one competitor that we see a fair bit that is owned by US private equity that our sales rep should actually talk about a little bit more. I actually didn't think about it much until the question and just some of the stuff that you're there with. Gotcha. Brian, just a follow-up question for you. Anything we should be watching out for in terms of additional restructuring charges as you go through the integration over the coming quarter or two? Anything unusual about CapEx we should be expecting this year? No. I think we probably will add a little bit more to CapEx as we try and get more systems in place. I don't think anything will be really material. As far as the restructuring, I think as you go forward, there will be some. I don't think to the level that we had a lot of in the last year, there were a lot of external legal fees and valuations and stuff like that which really added to the complexity and the cost. I don't think you'll see to that level. There will be some, obviously, I think, as we make changes to the businesses. Gotcha. I appreciate that. Congrats on the progress. Thanks. Thanks, Gabe. Thanks, Gabriel. The next question comes from Daniel Rosenberg of Paradigm Capital. Daniel, your line is open. Good morning. My first question was around the sales option. I was curious if you've seen any changes in the trends of just inbound leads versus your outbound lead generation. How has that shifted over time? Do you expect it to shift as you're kind of getting bigger and bigger scale and more of a presence in markets? Yeah. This is the type of business that most of the players that buy the stuff know of us to some degree. Some of the products, I think, in different markets could have better in Canada where it's stronger in some geographies and other geographies and provinces, I mean. Yeah, we are seeing definitely more inbound leads overall in the business if you think about it, the inertia of one product in coming through. We just got more people on the street every time we do this and more customers and more ideas. We are being talked about a little bit more. That word of mouth is definitely the better way of things happening. I'm not sure how much people look at their marketing in terms of inbound leads in our space. Presence and ideas are definitely how people buy. Yeah, we definitely see more inbound leads. Thanks. I'm wondering if there's anything built out specifically in your products and processes that can trigger kind of that realization for somebody to want to cross-sell. Could you speak to any examples of that? Or is that untapped territory? I'm trying to connect that virtuous cycle that you're seeing in your organic growth. Yeah. Treat is the electronic medical record that really drives the process of how patients are taken care of. Some of these large agencies and these patients come into these organizations because they get referred by a specialist or a hospital or something to go for care or counseling or services based on there. How does that referral work? How does that come into those agencies? They do not want that working on two different systems. They are going to want that referral to come right into the electronic record and how that connectivity all works, right? They definitely will they buy the system that we own because we also own the electronic record? I think they would. That is an idea that we have. We got a system called Diamond in the U.K., which has about 60 customers that does all the diabetes-based work. It would get a ton of referrals too. Will Strata fit into that base world? We have Shrewd, who's showing you all the visibility of patients within a particular region. Would you not like to see those patients that are in transition, those services that are in transition as part of that data? 100%, you're going to want to see that data. Those are evidence of how we can talk about how our products fit together and different ideas that will continue to happen. We got to get better at teaching our sales reps on that narrative and how that all stuff fits together. There is a method to our madness on what we buy and how this all fits together and different ideas of how that can lead to upsells. Okay. Thanks for that color. It sounds like certainly opportunities to explore there. Last question for me, maybe one for Brian. I was just wondering, the contingent consideration on the balance sheet seemed to have gone down quite a bit. I was just wondering how you're booking the earnouts or potential liabilities from earnouts for your recent acquisitions. Did it go into any other lines? No. Basically, the value of doing the valuation does calculate what they think the expectation of the contingent payout of the contingent consideration is. That is what we end up looking through in the balance sheet. You can see the expectation is relatively low. Great. Thanks for taking my questions. I'll pass the line. Thanks. Daniel. There are no further questions at this time. I'll hand the call back to you, Dan, for any closing remarks. Yeah. Just there's a lot of questions. I think everyone's got some visibility into where we are and what we're doing. Again, just trying to stress, we believe in our model. We believe in it for the long term with ups and downs. We just came through an up quarter. We'll take that win and move on to the next one and hope it's, again, another up quarter and continue just to move. We believe in the big picture of this. I'm just trying to stress to the analysts and to the investors out there, we invest in our business as shareholders for what the long-term approach is and believing in what the business model is. We like these calls to try to really effectively articulate that. If you got questions, we're always open to it. Feel free to get in contact with us. Thanks very much, Dan. This now concludes today's conference call. Thank you all for joining. Thanks, everyone. Bye-bye. Thank you.