Welcome to the FD Technologies Interim Results presentation for FY 2022. This is our first opportunity to talk to you since we announced plans to increase our investment in the business. In a moment, our CEO, Seamus Keating, and our CFO, Ryan Preston, will describe our progress so far. Before that, I want to draw your attention to the Safe Harbor statement found on page two of this presentation, which can be downloaded from our website. Having done so, I'd now like to hand over to Seamus to take you through the presentation. Thank you, Ian. Our interim results today show strong evidence that our strategy is working across our three business units. It's not fully reflected in our financial reporting yet, but it's coming through in the leading indicators. It's in the quality of conversation with customers, it's in our pipeline, and it's in the types of contracts we are closing, especially those in the subscription area. All our evidence says that the opportunities we set out are large and that we are well-placed in these structural growth markets. We are transforming across the business so that we can scale faster, and we're excited to be delivering growth while we make these changes. Our progress so far this year gives us confidence in achieving our guidance. Front and center of the guidance is our 25% growth rate in exit recurring revenue, setting us up for growth in excess of this next year. We are delivering on the KPIs this year across the business. KX Insights, our cloud-first platform, is in production today with a Tier-1 customer. That's a very significant achievement, 'cause when we were speaking last back in May, we were in early trials and welcoming customers on proof of concepts to get them interested and get them excited. We're really pleased that one of our significant tier-one customers has taken a mission-critical workload live on the KX Insights platform. We're also well on the way to our recurring revenue target with a threefold increase in subscription deals representing over 80% of our first-half sales. In First Derivative, we've delivered a strong performance where we're growing market share and we're improving margins. We're taking, I think, some sacrifice on those margins because of the scale of the growth opportunity that we see this year, and actually particularly looking to next year also. In MRP, we're also reporting strong revenue and margin growth. This is as the digital marketing world accelerates. This is increasingly happening as the world becomes more and more virtual. Let's dive into each of the business units and have a look at the progress and our performance. Starting with KX, we see it here in these, in these two vignettes. It made the front page of The Economist last week, and it's clear that real-time data is the fastest-growing data segment that's out there. What does this mean for our customers? It means that they have the opportunity but also the necessity to use data to be more efficient, to be more competitive, and to be more agile. It means getting more value from data. It means joining the dots across their different data sets, seeing the correlation, applying artificial intelligence and machine learning. It's that combination of real-time and the historical data that drives artificial intelligence at its purest. What does it mean for us here at KX? It validates our strategy to be the most performant streaming analytics platform that's out there. It really focuses our product roadmap on things like ease of use and interoperability, which we'll cover later. It focuses on those so that we can address this growing market. It creates demand in new use cases with enormous growth in device and sensor data from every operation. It makes our proposition with partners more attractive to customers as they see the opportunity to bring the golden nugget of real-time into many of their data services. Looking at some of our performance metrics in KX, our focus on subscription is really driving annual recurring revenue growth, and of course, with that, really long-term value. We've also seen, as we set out, a reduction in perpetual revenue and reduction in the services revenue as more of our sales need less services and allow customers to get to value much more quickly. We've been really excited in the first half to have so many new logos. We have new logos in capital markets customers for Insights, like the Abu Dhabi Investment Authority and like Stifel in the U.S., these customers getting immediate value and bringing significant expansive potential for us. We've also added new customers in manufacturing and in pharma, in energy and in defense. Our deals outside of capital markets in the first half of this year were 31% of the total deals, compared to 21% last year. The key to adding these logos was faster time to value, driven by ease of use. These are the things we've been working on for the last year or more. Expansion deals to existing subscription customers are also starting to increase our net revenue retention. Our deal that we announced recently with Renault is a great example of that. We expect to drive further net revenue retention growth with the transition of many of our existing maintenance customers to our Insights platform as a subscription. We've been working with our cloud partners and also with these customers to present a really compelling business case. We're also investing in the go-to-market. I'm pleased that we've been able to attract really high-caliber leadership and sales reps across the go-to-market organization. We're bringing in people from enterprise software backgrounds who've got good vertical market experience. They can take what we've got to offer and really explain to customers how that's gonna work for them and how they can get value quickly. We've deployed multi-channel marketing, driving a lot of inbound leads and increasing our pipeline more quickly than it's ever increased before. Our work with the industry analysts Forrester and Gartner is paying off as they highlight in their reports the strengths of KX and the places where we play strongly. We've significantly increased our investment in pre-sale skills, and this is really helping us to reduce the sales cycle, make it shorter, show customers value more quickly, and very often having a customer workshop replace what was traditionally a proof of concept. A workshop can take a number of days. A proof of concept can take weeks to months. In addition to investing in our go-to-market, we are also investing heavily in our product innovation pillars. Our investment in R&D has increased by 23% in the first half. This has really been to drive the insights product development that we spoke about earlier in the year. The principles of that insights product development are to maintain the performance advantages that we've always had, but to make them accessible to a much wider population of developers and customers. Making KX accessible today to more than 8 million developers with the implementation of Python and SQL. These two features have been the really big wow factors with our customers as we've been speaking to them in recent months. They see the opportunity to deploy KX more widely, bringing many, many more users and many more use cases. Of course, we always meet customers where they are. Yes, we're cloud first, but we are deployable anywhere. One of the other really big factors of our KX Insights program and the development this year is creating a low-risk migration for our existing customers. A low-risk migration where they get immediate value, they modernize their platform, and they see the opportunity to get significant future value. A few examples here of our success with customers. We show these three examples. Let me talk a little bit here about the manufacturing use case. This is a global medical devices player. The work we're doing with them here is being able to join their real-time datasets coming from different parts of the production line. Joining those datasets, quite often adding relational data, and being able to do the analytics in the moment, helping them to see where the weak spots on the production line are. Actually helping to change the operator behavior on the production line, being able to see which times and which operators are getting the best productivity and where they need to improve. This particular organization has actually got 62 factories globally. We started in Q1 this year with a pilot phase. The second quarter, we rolled that out into one of their key factories. From here, we see the opportunity to work with this customer to roll it out across many more of the factories. That's giving us a significant opportunity to grow our net revenue retention, give that customer greater value right across their organization. A really exciting development, a really exciting use case, and an example of how relatively quickly we were able to give value to this customer. I'd like to talk a little bit also about the customer here in pharma, which is a relatively new sector for us. In winning this opportunity, the ability to show them how SQL and Python were going to work for them was absolutely key in helping them to develop and manage their clinical trials data much more effectively and much more efficiently. They need to join massive datasets and do queries in real time. We're able to bring the time for those queries down, from minutes, you know, down to microseconds. This is bringing significant value to this customer. Growing the KX ecosystem is a very important part of our strategy. The key developments that we've seen this year have been working with the cloud platforms, going to market together, but going to market together where KX is a key enabler of the proposition with the cloud partner. We got a really good example within financial services, working with AWS, where we migrated a mission-critical workload for a tier one client. With this opportunity, we were able to bring combined day one value to the customer. That day one value was a lower storage cost, lower support cost, but accessibility of the data to more users using the SQL and the Python interfaces. In addition to all of that, we were able to bring lower support costs to the customer because of the standardized supported architecture, which literally means that they need less developers supporting the infrastructure. Those developers can be deployed on the KX platform to bring more of the value, more of the analytics, and to really drive value for the customer. Another great example in the cloud world has been our work with Renault and Azure. Here we've been able to grow our business from our initial work in the wind tunnel with the race team right through to the car brands. Again, opportunity here to grow our business, bring increasing value to the customer. The cloud platforms we've seen this year have begun to roll out industry-specific environments. These environments are geared for that particular industry with particular data feeds, analytics specifics. We see the opportunity, working closely with the cloud vendors, to have KX Inside as a high-performance analytic engine in some of these data services. Another good example of progress this year in the world of partners is our work with TELUS. Our industry partnership here means that we can ingest sensor data from any production line with our pre-built integration. With TELUS, we're already going to customers where they have a big group of customers across manufacturing, industry, automotive. Their low latency connectivity plus the KX Analytics stack is a perfect solution for the real-time problems that those customers are looking to solve. That's our view on the progress in KX. Let's move and talk about First Derivative, our consulting business. I've been really pleased with how David and his team have done a super job where we're also transforming our business in First Derivative. We've invested here in some of the senior sales capability so that we can get more value and customers can get more value from our deep skills that we've built over the years, deep in capital markets. With that, we're winning bigger programs. We're winning them with our combination of domain and technology. We have grown with existing clients and see significant opportunity to continue to grow with those existing clients. We've got a couple of great examples of us partnering with KX and First Derivative. Partnering where in KX, we've sold the software, in some cases, selling it, both on a subscription but also a managed service. First Derivative are able to deliver that managed service. Some good examples there, the two business units working in tandem, to both do what they're best at and bring increasing value to our customers. I'm really pleased that First Derivative today has the momentum to continue growing at the rates that we've seen as we've come through the first half of this year. They've got the momentum to do that and to begin to improve margins further from where they are today. We have, during this year, accepted a lower growth in the margin because of the top-line growth opportunity that we see. We've continued to invest both in that senior sales capability, but also in the domain resources to go out and build on that. There are a number of good examples of work that we've done in First Derivative, this year. There are some of them on this chart here, but I actually wanted to talk about a third example where working with a large customer who's both a customer of KX and First Derivative. The reputation that we created implementing a big surveillance application in the earlier part of this year has given us the opportunity in First Derivative to reach high into that organization, have a conversation with the CIO and be able to become their partner as they think about modernizing the application suite right across the middle office and the front office. A great example of the two businesses working closely together and delivering greater value both for FD Technologies and also, of course, for our customer. If we look at our progress in First Derivative, we see here that we've got a services business that's set up for long-term growth, improving margins in what is a very large market. Let's move and talk about our third business unit, MRP. I'm very pleased with the progress at MRP this year, driven by our new leader, Scott Matthews. We've seen a really strong demand environment, and that's driven both growth and margin improvement. There are short lead times to delivery. This actually gives us some leverage as we have discussions with clients on structure and on price. That's helped us to move more of our work into the subscription and the platform structure. And that, of course, helps us to drive long-term growth, sustainable revenue, and value. We are a scale player in what is a fragmented market, one of the few organizations that's able to deliver in North America, in Europe, and deliver across the Middle East and Asia. Again, a very valuable business. Some customer examples here. We've been winning new logos at a very exciting rate in the business here. You see here the speed of ramp-up with some of those customers looking to actually multiply their business with us 7 x in the first year of working with them. I think that demonstrates both the really significant demand that's there, but also the trust that these customers have with us as we start to ramp up and deliver services for them. As we look to the rest of the year, we see that our growth is accelerating in that strong demand environment and also with the advent of MRP Prelytix V3, which is coming on stream, which again drives that platform revenue that we've been talking about. That's a view of our progress in MRP this year. Before I hand over to Ryan to take us through the numbers in detail, let me summarize. Our strategy is delivering results. We're well-positioned in structural growth markets. In KX, we're on track to add 25% to our recurring revenue base this year, and that sets us up to be fully subscription-based for next year and to accelerate our growth from there. We're confirming this year's guidance for the group, excited about next year's growth prospects, and of course, the enormous potential of our business as we look ahead. Thank you. Thank you, Seamus. We are really pleased with our half one financial performance, with group revenue up 7% and underlying performance ahead of this as we transition away from perpetual licenses. We are delivering on all of the targets we set for our business units. We have invested in line with our stated strategy, focusing on the KX business by increasing our go-to-market capability, ease of use, and interoperability of our KX technology. We continue to focus on working capital management and cash generation, with net debt eliminated post half year following the sale of our share in our associate business, RxDataScience. In half one, the group P&L saw gross margin maintained at 40% with growth in both First Derivative and MRP offset by a lower proportion of the higher margin KX revenues. We increased our investment in R&D by nearly 40%, which was offset by capitalization as we continue to create software assets that will support our future growth. The planned investment in sales and marketing up 43% and admin expenses up 37% are aligned with our strategy to accelerate growth and scale the business. We are seeing early signs that our strategy to accelerate growth is working with industry revenue growing at 27%, and we delivered a three-fold increase in subscription deals in the period. Annual recurring revenue grew by 11%, and we are on track to deliver full year ARR growth of 25%. We expect ARR to continue to accelerate in half two based on deals we have signed post the period end and that are advanced in our sales pipeline. Perpetual license revenue is down 70% in line with our stated strategy as we continue to focus on higher value recurring revenues. Service revenue delivered through our customer success team declined due to our focus on reducing implementation times, resulting in faster and far less costly implementations of our technology for our customers. Revenue in First Derivative is growing ahead of expectations as a result of improved market conditions and actions we have taken, including an improved go-to-market strategy, strengthening the organizational structure, and building on our delivery excellence. In addition, recent engagements are longer term in nature and of a higher margin as we add more value for customers. Gross margin continues to improve, driven by our focus on helping clients address their challenges and higher utilization rates. This has enabled us to deliver a gross margin improvement of 5% year-on-year. H1 gross margin includes the benefit of working from home due to COVID, which adds circa 1%-2% to margin. We have invested in sales and marketing to ensure we have the capacity to maintain our current growth rates. We should start to see the benefits from this investment coming through in H2 in the form of continued strong revenue growth and EBITDA margin. MRP continues to perform strongly with revenue growth in the first half of 14%, which includes platform revenue growth of 17% and is on track to deliver full year target growth of 20%. Gross and EBITDA margins continue to improve as we benefit from scale. Future investment in sales and marketing will be required to maintain current growth rates. In addition, the launch of Prelytix version 3 will increase higher margin platform sales. We have eliminated net debt post half one as a result of good cash management and working capital management on the post period end sale of our associate business, RxDataScience. This is notwithstanding our investment in R&D, sales and marketing and admin expenses. Operating cash conversion in half one was 84%, and we expect cash conversion to continue through half two at around 80%-85%. As previously highlighted, we are on track to deliver against our full year KPIs. KX annual recurring revenue growth of 25%. We're on track to meet our target ARR growth based on our Q3 performance and a strong Q4 pipeline. First Derivative revenue growth of 10%. In the first half, we delivered growth of 18%, and we have invested to ensure this growth continues into half two. MRP platform growth of 20%. In the first half, we delivered growth of 17%, and we are confident we can deliver this target in half two, which will benefit from the launch of Prelytix version 3. Full year guidance remains unchanged, with group revenue between GBP 255 million and GBP 260 million, with group EBITDA between GBP 31 million and GBP 33 million, and KX exit ARR growth of 25%. Our half one performance highlights we are on track to grow our business and deliver against our targets.
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