Greetings, and welcome to the RealNetworks, Inc.'s fourth quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn this conference over to your host, Mr. Brian Prenoveau, Investor Relations. Thank you, sir. You may begin. Thank you, Laura, and welcome to RealNetworks' fourth quarter and full year 2021 financial results conference call. Before we begin, I'd like to remind you that some matters discussed today are forward-looking, including statements regarding RealNetworks' future revenue, operating expenses, and adjusted EBITDA, as well as trends affecting its businesses and prospects for future growth and profitability, liquidity, and financial condition. Other forward-looking statements include the company's plans to implement its strategy, invest in its products and initiatives, and restructuring efforts, as well as the expected growth, profitability, and other benefits from these activities. In addition, today's call contains certain forward-looking statements that relate to the December 2020 sale of Rhapsody International, Inc., which does business as Napster to MelodyVR Group PLC, and certain forward-looking statements that relate to Scener Inc., including its future growth and profitability and financial activities. Effective in 2020, Napster has been presented as a discontinued operation for accounting and disclosure purposes, and comparable historical periods have been recast to conform to this presentation. Statements that express our belief and expectations and all statements other than statements of historical facts are forward-looking and involve a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. We describe these risks and other risks in our SEC filings, including in the risk factors set forth in our most recent reports on Form 10-K and Form 10-Q, and in other reports. A copy of those filings can be obtained from the SEC or from the investor relations section of our corporate website. Forward-looking statements made today reflect RealNetworks expectation as of today, February 9th, 2022. The company undertakes no duty to update or revise any forward-looking statements made during this call, whether as a result of new information, future events, or any other reason. In addition, we will present certain financial measures on this call that will be considered non-GAAP under the SEC's Regulation G. For reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure, please refer to the information included in our press release and in our Form 8-K, dated and submitted to the SEC today, both of which can be found on our corporate website at investor.realnetworks.com under the Financials tab. With us today are Rob Glaser, Chairman and CEO, Mike Ensing, President and COO, and Christine Chambers, Senior Vice President, CFO, and Treasurer. Rob will discuss the company's strategy and the progress the company made during the fourth quarter of 2021. Mike will then provide a more detailed update on Real's AI businesses, and Christine will conclude with a more detailed review of the financial results. After today's prepared remarks, we will open the call to questions. With that, I will hand the call over to Rob. Thanks, Brian. Good afternoon, everyone, and thank you for joining us today. My remarks will center on three topics. First, I'll discuss our 2021 results. Second, I'll discuss our games business and our plans to revitalize it. And third, and finally, I'll share some overall thoughts about our AI-based initiatives, SAFR and KONTXT. I'll then pass the baton on to Mike Ensing, who will discuss the AI initiatives in more depth. After Mike, Christine Chambers will go through our detailed financials. First, 2021. As I typically do at the beginning of a new year, I'd like to look back at the previous year. I'll start by discussing how our 2021 results compared to what we hoped to achieve going into the year, and then share my perspective on how 2021 set us up for 2022 and beyond. Our total revenue in 2021 was $58.2 million, down from $68.1 million in 2020. Inside of these results is a tale of three cities. Our 2021 growth city was our AI businesses, which grew meaningfully, SAFR by 44% and KONTXT by 14%. That said, this growth was not as fast as we'd hoped, especially for SAFR. We'll talk about what we've learned and how we're applying those learnings in just a few minutes. Our reboot city was Games. While Games had grown in 2020 to $28.6 million, which was up 12% over 2019, in 2021, our Games revenue was $24.1 million, down 16% compared to 2020. As 2021 unfolded, I determined that we needed to make a leadership change in Games, which I'll discuss in a few minutes. Our legacy city is the home of the rest of our businesses, which declined as expected from $33 million to $26 million, but continued to contribute financially on the bottom line. Our EPS from continuing operations was a loss of $0.48 per diluted share compared to loss of $0.13 per share in the previous year. 2021 adjusted EBITDA was a loss of $13.8 million compared to adjusted EBITDA loss of $8.6 million from the prior year. Christine will explain the bridge between net loss and EBITDA, and we'll discuss some non-recurring elements that should be considered when comparing the two years. We continue to have a strong balance sheet with $27 million of cash available to us and no debt. We'll use these resources judiciously to set us up for future growth. Christine will discuss our results in much greater detail in a few minutes, as I mentioned. Stepping back from the financial details, our strategic focus continued to be our three big growth initiatives, SAFR, KONTXT, and Games. Concurrently, we will continue to manage the rest of the business for stability and profit. We remain very bullish on Real's prospects. Our lineup of current and new AI products is very strong, as is our sales pipeline, and our new Games leadership team has put together an excellent plan that I believe will set Games up for significant growth in 2023 and beyond. Taken together, we believe that in 2022 we will achieve double-digit overall growth, excluding Games, and we expect Games to be approximately flat. This segues into my second topic, which is Games. As I mentioned, it became clear to me by mid-2021 that the Games leadership team we had had taken the business as far as they could, and that we would need to make a change. We started a rigorous search process and found a fantastic new leader, Simonetta Lulli. We and Simonetta got to know each other through a strategy consulting assignment she did for us in the summer of 2021. In October, we appointed Simonetta to our new Head of Games. Simonetta's hit the ground running and has put together a great plan that I strongly endorse. As it unfurls, we'll discuss it in more detail in the months ahead. The global market for gaming is huge, and it's one where female players are vitally important. According to a recent study by App Annie, 64% of players of the top 100 games in the U.S. are women. Similar stats for female gamers are reflected in Canada, France, Germany and Australia. Compare that to the games themselves, where female protagonists are represented in less than 5% of games. This data suggests that a significantly untapped market exists, where we can expand gaming options and increase interaction with the differentiated products created for and often by women. Games has already had a focus on female players before Simonetta arrived. She's doubling down on that focus while making significant operational and business changes that I believe will result in significant growth in 2023 and beyond. Now I move on to my final topic, a few words on our AI businesses, SAFR and KONTXT. As mentioned, SAFR, our computer vision platform, grew 44% in 2021 over 2020. While this is significant growth, it's lower than we'd hoped for and was lumpy. We've learned a lot about where the SAFR value proposition works well globally, namely in access control and authentication, and where it's a more selective fit, specifically in the safety and security or SNS market. We see great SNS opportunity in our U.S. federal business and in select other geographies. Accordingly, we've retooled both our product initiatives and our sales focus to focus on the areas with the greatest potential growth and the least friction. In a few minutes, Mike will discuss SAFR in more detail. A few words about KONTXT, our natural language processing business. Its 14% growth in 2021 was close to our plan in total dollars. That said, we believe the progress we made in 2021, improving and maturing our KONTXT product line, sets us up for accelerated growth in 2022 and beyond, which Mike will discuss in more depth in a minute. Finally, a few closing words. 2021 was a challenging year for the world on the whole, as we've all had to slog through the second year of the pandemic. While vaccines are remarkable and have saved millions of lives, they have not yet put an end to the pandemic and to all the ways it's disrupted our lives. I'm deeply grateful to all of our stakeholders, employees, customers and partners who've stayed focused and continued to work hard to achieve excellence in spite of the turbulence around us. I foresee brighter days ahead for us all. With that, let me pass the mic to Mike. Thank you, Rob. I'd like to briefly discuss progress made in our two AI-based businesses, SAFR and KONTXT. Starting with SAFR, sales grew by 44% in 2021. Although the annual growth would be considered healthy in most businesses, we fell short of internal expectations. In 2021, we significantly advanced our product, delivered customer and partner successes we will build upon, and gained a better understanding of market needs shaping our strategy for 2022. During the year, we advanced our product across several dimensions. The SAFR algorithms made significant progress in accuracy while maintaining our size and speed advantages, reinforcing our leadership position for real-world live video applications. We continued to leverage our ability to easily embed our software on popular chipsets, allowing the SAFR product to be easily and cost-effectively deployed on edge devices and standalone hardware, giving our customers a flexible and high-performance solution. We have added enterprise-level features like unlimited face registrations, event archiving, and central server administration. Finally, we have developed two different types of anti-spoofing technologies, RGB liveness and structured light liveness. These new technologies will allow our customers to protect themselves from presentation attacks for an added level of security. Looking forward, on the commercial side of the business, we are placing increased focus on access control and authentication use cases. Regarding access control, there is a large and growing market and strong customer need for touchless biometric access control products. This space provides for a great application of our algorithm that is differentiated by being fast, accurate, and compact, making it especially valuable for customers seeking to embed face recognition, liveness spoofing detection, and person-centric analytics directly in devices operating at the edge. During 2022, we will be launching a suite of products that we think will provide clear differentiation versus other products in the access control market today. In the authentication space, we plan on building on 2021 customer successes to provide facial recognition solutions to both authentication providers and end customers. As Rob mentioned, we will hone our focus in the safety and security space and continue to pursue opportunities in key geographic commercial markets and the federal side of the business. Regarding the federal side of the business, we will continue to build upon the successes we had last year. In the fourth quarter of 2021, we were awarded an additional phase two SBIR, a Small Business Innovation Research award, for the U.S. Air Force to explore facial recognition use on unmanned sensors and evaluating SAFR running on a compact processor. The award is in excess of $500,000, with the work being completed by the end of 2022. In addition, during Q4 2021, we were awarded two phase one SBIRs that will help us expand our face recognition capabilities, increase our ability to detect and identify faces under more degraded scenarios, introduce new object detection capabilities, and provide more comprehensive analytics. While phase ones are relatively small monetarily in value, they open up opportunities for further work in 2022. Now I'll move to a discussion of KONTXT, our natural language processing platform. We increased revenue 14% year-over-year and believe we have a path to accelerate growth in 2022. As discussed on prior calls, our team is focused on delivering AI-based products and services to help facilitate improved voice and messaging-based services for our customers. Our AI-based filtering tools leverage more than 1 billion SMS/MMS messages that are processed daily to deliver the best filtering tools for our customers. In 2022, we believe we will see accelerated growth for three reasons. One, increased industry demand due to changing market and federal regulatory conditions. Two, a more robust, mature, and further differentiated omni-channel product. And three, an expansion of the sales channels that we sell into. Demand for the KONTXT product is only growing. The average number of spam texts a person receives per month is 16.9, up from 14.7 in 2020, 10.6 in 2019, and 8.5 in 2018. It was estimated that 60 million Americans fell victim to phone scams totaling approximately $30 billion according to Truecaller's 2021 Global Spam & Scam Report. We believe the environment is ripe for more regulation, which means telecoms and major enterprises will demand more tools like KONTXT. On the product front, we have developed and proven out several new capabilities, expanding our product set to a full omni-channel offering while leveraging several key differentiators. Building on our core MMS/SMS fraud and spam prevention capabilities, the offering now includes voice with robocalling blocking, image hashing, that's inline scanning of text, 10DLC, 10-digit long code interconnect support, and brand smishing detection and prevention. In addition, we have continued to enhance our product differentiation. The KONTXT suite of products are differentiated by our robust data models leveraging over four years of ground truth, labeling and training for our AI message classification, our ability to examine both content and meta-metadata, tremendous platform flexibility with capability to be deployed on the cloud, on premise or hybrid in both fully managed or self-service environments, and finally, great scalability with the ability to process up to tens of billions of messages per day. On the selling side, we are continuing our focus on the needs of U.S. and international carriers and broadening our efforts to also include UCaaS, Unified Communications as a Service, and CNAM, Caller Name providers. We are seeing increased interest by these types of customers. We believe this is driven by changing needs in the market and enhanced reputation and trust in our product that has matured through the years. With that, I will now turn the call over to Christine to discuss financial results in greater detail. Christine. Thanks, Mike, and good afternoon, everyone. In my remarks today, I will first review our consolidated fourth quarter and full year results, followed by a more detailed discussion of our segment business performance. As a reminder, we completed the deconsolidation of Scener as of June 30, 2021, and as such, costs related to Scener are not included in our financial results in the second half of 2021. Now turning to our results. Total revenue for the year was $52.8 million compared to $68.1 million in the prior year. For the full year 2021, growth in our AI businesses was more than offset by declines in our games and foundation businesses. In 2021, mobile services revenue decreased approximately $3.1 million year-over-year. SAFR revenue increased 44%, primarily due to increased commercial sales. KONTXT grew 14% year-over-year, driven by the addition of new context services. Growth year-over-year from our AI businesses, again, was more than offset by declines in our ringback tones business. Consumer media revenue in 2021 decreased $2.3 million year-over-year, driven by declines in our legacy PC business and lumpiness in our IP business. Games revenue for the year was down $4.5 million compared to the prior year. The decrease was due to sales declines in both our legacy and free-to-play mobile games. As Rob discussed earlier in the call, we're excited about new leadership in the games segment and the direction they can take the business while recognizing the progress from a revenue growth perspective may still take a few quarters. Consolidated gross profit in 2021 was $44.4 million, compared to $51.6 million in the prior year, the decrease driven by lower revenue. As a percentage of revenue, gross margin was 76% and flat compared to the prior year. Total operating expenses in 2021 were $65.3 million, compared to $56.6 million in the prior year. The increase was primarily due to the $8.6 million favorable fair value adjustment in 2020 related to the contingent consideration from our Napster acquisition, compared to the $1 million favorable adjustment in 2021. Operating loss in 2021 was $20.9 million compared to $5 million in 2020. This was due to the $7.2 million decline in gross profit, and in 2020 a $7.6 million higher benefit related to the fair value adjustment of the contingent consideration. Net loss for the full year from continuing operations attributed to RealNetworks was $21.2 million or $0.48 per diluted share, compared to a net loss of $4.8 million or $0.13 per diluted share in the prior year. In addition to the items I just mentioned, included in 2021 was a net loss with a $7 million non-cash fair value adjustment to Napster's stock, offset by net gains related to Scener of $4.1 million and a net gain on the forgiveness of the PPP loan of $2.9 million. 2021 adjusted EBITDA was a loss of $13.8 million compared to adjusted EBITDA loss of $8.6 million in the prior year. Turning to the fourth quarter. Total revenue was $13.4 million compared to $17.6 million in the prior year period, and $14.3 million in the prior quarter. Mobile services revenue decreased $1.7 million or 23% year-over-year, and $100,000 or 2% sequentially. SAFR revenue declined 41% year-over-year, lapping a significant Q4 last year, but grew 23% sequentially. KONTXT grew 19% in Q4 year-over-year and 15% sequentially. Our remaining legacy products within this segment declined year-over-year and sequentially. Consumer media declined $1.2 million or 36% year-over-year, and $600,000 or 22% sequentially, primarily due to lumpiness in our IP business. Games declined $1.3 million year-over-year or 19%, and a sequential decline of $200,000 or 4%. On a year-over-year and sequential basis, the decreases were due to sales declines in both our legacy and free-to-play mobile games. Adjusted EBITDA for the fourth quarter was a loss of $3.7 million compared to a loss of $900,000 in the prior year period, and a loss of $2.7 million in the prior quarter. Net loss for the fourth quarter was $1.8 million and was impacted by a $2.1 million net gain related to Scener. A full reconciliation of our net loss to adjusted EBITDA can be found in our fourth quarter press release. Now turning to our full year 2021 segment results in more detail. Mobile services segment contribution margin was a loss of $5.9 million compared to a loss of $4.2 million in the prior year. The year-over-year change was driven primarily by decreased revenue in our legacy businesses. Consumer media segment contribution margin was a gain of $1.1 million compared to $1.5 million in the prior year. Decrease was primarily due to lower revenues and timing of IP license revenue. Games segment contribution margin was a loss of $1.3 million compared to a gain of $1.6 million in the prior year. Revenue declines from fewer subscribers and declining traffic were the primary drivers of the year-over-year decline. Turning to our balance sheet. At December 31st, 2021, we had $27.1 million in unrestricted cash and cash equivalents compared to $23.9 million at December 31, 2020. We had no debt and no borrowings outstanding on our revolving credit facility. Our balance sheet remains strong and we'll use these resources judiciously to set us up for future growth. Now turning to our outlook. For the first quarter ending March 31, 2022, we currently expect total revenue to be in the range of $12 million to $14 million and adjusted EBITDA loss to be in the range of $5.5 million to $4 million. We expect Q1 will be a trough for the year and believe the initiatives we undertook in 2021 will set us up on a path towards growth this year and beyond. We anticipate achieving double-digit revenue growth in 2022, excluding the Games business. With that, we'll now open the call for questions. Operator? At this time, we'll be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two to remove your question from the queue. For participants using speaker equipment, it may be necessary for you to pick up your handset before pressing the star keys. One moment while I pull for questions. Our first question comes from the line of Mark Argento with Lake Street Capital Markets. You may proceed with your question. Hey, Rob, Mike, and Christine, thanks for taking my questions. Just, I just wanted to kinda hit on both segments, starting with AI in particular. Seems like you guys have had some success in terms of getting, you know, the solution set into the hands of some bigger players, working with guys like NTT Docomo and other, you know, systems integrators, also in the government channel. It seems like a lot of the initial touch points have been, you know, bigger, kinda bigger projects or the front end of bigger projects or bigger initiatives versus Yeah, kind of more nuts and bolts applications. Any thought in terms of targeting additional markets with the solution? You know, particular municipalities seem to be getting, you know, more and more involved, other types of solutions that you could, you know, potentially see, you know, going from conceptual to actual, you know, full deployments with additional revenue behind it. Well, I'd say a few things, Mark. It's good to talk to you. Hope everything's well in your world. As Mike mentioned, and as I touched on a little bit, we definitely think that focusing on access control is probably the best path we have for scaling the AI business globally or the SAFR business globally. Security and surveillance, which has historically been probably our primary focus, is still gonna be a focus for our federal business and for certain geographies. I think we've come to see based on what we observe with customers in terms of what they've been both coming to us to talk about or engaging with us on, and then when it actually followed through through sale and deployment is that access control looks like a fertile market for us in many different geographies around the world and in many segments. That's sort of a partial answer to your question. In terms of deal size, I don't think we typically comment on deal size, but I think it's fair to say that the goal would be to have a business where you have a robust pipeline. You get a lot of people doing initial deployments, some of which might be small because they're in trial phase, or because they're experimenting with, you know, for instance, branch offices before they go to the headquarters. I was in a call with a customer this week that talked about they like doing some of their international work first. They're primarily U.S.-based, but they find that the international operations work is kind of a laboratory. You know, we definitely see there's a multi-phase deployment cycle for big customers, and we're good with that. Sometimes we go straight to large deals. We've done that a few times, and we like those, of course, but I think we try to be persistent and focus on what we think are gonna be, you know, larger aggregate opportunities, whether it's lots of customers buying a medium amount or certain verticals where it's a small number of customers placing very big orders. We're happy to do either one. I don't know, Mike, if you wanna add anything. No, I think that covers it, Rob. Mark, you had a couple other sub-questions you said you wanted to talk about each segment. I was gonna just pivot over to games and just talk a little bit. I know you said you'd probably provide more visibility, you know, as the year progresses there. You know, obviously games, there's a lot going on, a lot of M&A activity in the space. You know, anything you can kinda give us in terms of just general direction in terms of, you know, focusing on, you know, doing more mobile, more social? Any, you know- Yeah. How do you- Yeah. How do you differentiate yourself in a tough, you know? Yeah a crowded market? Yeah. Well, the dominant focus is mobile, for sure. That's not a change. Between free-to-play and premium, I think we've come to feel or Simonetta has come to feel that there's leverage and synergy between being in both segments. We have some products on the premium side, which is where we came from, that continue to be very popular and get lots of downloads and can operate as kind of a funnel. You monetize the free-to-play products much higher. Our three biggest grossing games are all free-to-play games, which is typical. You know, I'd say we're gonna probably over time most of the dollar growth will come from the free-to-play business. That was up until we hit the air pocket in 2021. That was our fastest growing part of our games business, and I think Simonetta is highly committed to reinvigorating that growth. In terms of how she's doing it, I think she's of a mind, and I share this view, that it's better for us to put points on the board and then talk about how we did it in detail rather than be sort of predictive of which initiative is gonna work. I will say that I've been very, very pleased with the rigor that she's approaching things in. I mean, she's got a lot of experience in a broad set of the disciplines in games, so I knew she'd be very strong in monetization type ideas 'cause she comes from that world. She also has a background in actually in finance, and it turns out a lot of these businesses, you have to really understand the metrics in an incredibly rigid, rigorous way because these businesses are almost like mini economies, where you've got to measure the revenue per daily user. You've got to measure the engagement. You've got to look at the cost of acquisition across various cohorts and various geographies 'cause it's not just the difference between the Android platform and the iOS platform, that they monetize somewhat differently, but also the highly variable differences in geographies and even cohorts within geographies. It's a super interesting but also economically and financially complicated business. Then obviously, you gotta make games that are fun, you know? You know, at the end of the day, you know, consumers are voting in record numbers with their pocketbooks in these categories. You're right that there's been a lot of inorganic activity, M&A activity out there. That certainly we think that's positive because it means that there's you know across all ends of the food chain there's interest you know all the way from you know Microsoft buying or trying to buy Activision for $70 billion whatever it is down to acquisitions more at our range of the business. We see a lot of you know interest in the business. We are believers in it. We've described it long term that we think it's a strategic asset and it sort of stands alone as a strategic asset. With a leader like Simonetta in there, as we revitalize it, there's a lot of ways we can go with it in terms of how we get shareholder value out of it. But first things first, the primary focus is to revitalize the growth. I’m guessing that investors will be excited to see that happen. I’m super impatient about it, but also, you know, when making the tough decision to bring in a new leader, wanna give her an opportunity to really dig in and make progress before we start talking about everything that's going on on the ground. Great. This last question, just philosophically, obviously, you got, you know, a decent balance sheet. In terms of M&A, being a you know buyer of businesses, dog, but both either AI or maybe even in games, you know, how do you think about, you know, your capital on your balance sheet? You know, I know you guys are, you know, still in a cash consumption mode, but just maybe talk about, you know. I guess the third thing you could buy back stock as well since the enterprise value is pretty small. Maybe just think about, maybe kinda opine on your thoughts about capital and deploying capital going forward. Thanks. I don't know, Mike or Christine, you wanna take a cut at that, and then I'll give what's on top of that? Sure. Yeah. You know, we ended the year with just over $27 million in cash. You know, like I said in my remarks, we are allocating that judiciously as we go into 2022. You know, we remain a focus of investment around our AI products and the, as Mike talked about, the investments in SAFR and KONTXT. Yeah, Mark, just a little bit more around that. With our cash, we are pretty focused on making investments over the next year in the AI-based businesses. Regarding acquisitions, you know, we're always open to things, but the first priority is our AI-based businesses. Yeah, I don't know if I can add too much on top of that, Mark. I think it's fair to say that we see very strong prospects for return based on investing, you know, in our growth initiatives. You know, we're gonna make those investments carefully, I guess I would say. You know, our belief is that having great products, having people that are in the position to sell them and put them in customers' hands, that those are investments that ought to have pretty good return on them, assuming we pick the right people to build the products, the right people to sell and market the products, and pick the right markets products to make. That's our job to make good choice on all three of those. I appreciate the call, Eric. Good luck. Thanks. Thanks, Mark. Thank you. Ladies and gentlemen, we have reached the end of today's question and answer session. I would like to turn this call back over to Mr. Rob Glaser for closing remarks. Thank you, operator. Well, I hope everybody is well. 2022 is off to a safe and healthy start. I am well, and everyone on this table is well. I had my bout with COVID early in January and fully recovered from it. It was more than the sniffles and less than a debilitating thing. Hopefully those of you that have had to go through it have had similar experiences. Hope everyone stays well and healthy. Again, want to thank everybody on our team, all of our stakeholders, the partners, et cetera, and customers for everything they have done to help during this most unusual couple of years. We remain optimistic about the future and have our heads down trying to create value here and working hard every day to make that possible. Thanks, everyone. We'll be talking to you soon. This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation. Enjoy the rest of your day.