Q4 2021 Kaleyra Inc Earnings Call
[music].
Speaker 1: Good afternoon.
Good afternoon.
Speaker 2: Welcome to Kaleira's fourth quarter and full year 2021 earnings conference.
Welcome to <unk> fourth quarter, and full year 2021 earnings conference call.
Speaker 2: After the market close, Calera released unaudited results for the fourth quarter and full year ended December
After the market close collateral released unaudited results for the fourth quarter and full year ended December 31 2021.
Speaker 2: Press release as well as a replay of today's call can be found on company's investor relations website at investors.calera.
Press release as well as a replay of todays call can be found on the company's investor Relations website at investors start to layer on dot com.
Speaker 2: Please view the release for additional information on what will be...
Please view the release for additional information on what will be discussed today.
Joining us today are <unk>, founder and Chief Executive Officer, Dr. Youll, Calogero, and Chief Financial Officer, John Campbell.
Speaker 2: And joining us today are Calera's founder and chief executive officer Dario Calogero and chief financial officer Giacomo Dalalio following their remarks. We will open the call for your questions.
Following their remarks, we will open the call for your questions.
Speaker 2: During today's call, management will be making forward-looking statements.
During today's call.
Management will be making forward looking statements.
Please refer to the company's S E C.
Speaker 2: filings including company's annual report on Form 10-K for a summary of a forward-looking case status
Filings, including company's annual report on Form 10-K .
For a summary of our forward looking statements and the risks.
Speaker 2: uncertainties and other factors that could cause actual results.
Certain fees and other factors that could cause actual results to differ materially from those forward looking statements.
Speaker 2: differ materially from those forward looking.
Speaker 2: Alera cautions investor not to place undue reliance on any forward
<unk> cautions investors not to place undue reliance on any forward looking statements.
Speaker 2: The company does not undertake and specifically disclaims any obligation to update or revise
The company does not undertake and specifically disclaims any obligation to.
To update or revise statements to reflect.
Speaker 2: in new circumstances or unanticipated events that occur, except as required by law. Today's press release and on the call will refer to the following...
New circumstances are anticipated events that occur.
<unk> as required by law.
Throughout todays press release and on the call.
We'll refer to adjusted gross profit margin.
Speaker 2: adjusted EBITDA and adjusted earnings per share.
Adjusted EBITDA and adjusted earnings per share.
Speaker 2: These metrics are not determined in accordance with generally accepted accounting principles and therefore are susceptible to varying calculations.
These metrics are not did them did you mind in accordance with generally accepted accounting principles and therefore are.
Yes.
To varying calculations.
A definition calculation and reconciliation to the financial statements of these non-GAAP .
Speaker 2: definition, calculation and reconciliation to the financial statements of these non-GAAP leaders can be found in the tables included in our press release.
Measures can be found in the tables included in our press release.
Speaker 2: We believe these non-GAAP measures of Palera's financial results provide useful information regarding certain financial and business strengths and the results of operations.
We believe these non-GAAP measures of the layer of financial results provide useful information regarding certain financial and business trends and results of operation.
Speaker 2: Now I would like to turn the call over to Kalaera's CEO , Dario Calogero. Sir?
Now I would like to turn the call over to <unk> CEO Dario call a general.
Sir Please proceed.
Speaker 3: Welcome everyone and thank you for joining us today. For those who are new to our story, I'll begin with a brief overview of our business. Kaleira is a communication platform as a service or C-Pass provider. From a high level, we provide our global partner base with an omnichannel suite of powerful APIs and visual tools to bridge the communication divide between businesses and their customers.
Welcome everyone and thank you for joining us today.
Who are new to our Scotty I'll begin with a brief overview.
Helane I use a communication platform.
Or C bus provide.
From a high level, we provided our Gatineau pilot phase with an Omnichannel suite of powerful API is Mb.
The range of the communication device between businesses and their cost.
Speaker 3: Brand worldwide often face coverage gaps when trying to communicate with their customers, especially in industries that require security and must prioritize reliability, such as financial institutions and healthcare.
Brian worldwide open phase governor yet.
Trying to communicate with that customer is especially meaningful.
Thank you Dorothy.
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The bvd, such as financial institutions and health care.
Speaker 3: Our mission is to have been lasting relationships between brands and their customers across channels and to do so while providing service that our clients can trust.
Our mission is to have been lasting relationships between brands and their customers across channels and to do so while providing service to.
Our clients.
Speaker 3: Today, our success in bridging the gap between businesses and their customers has enabled us to move closer to our long-term vision of being the trusted global CIPAS provider for our partner SmallWise.
Today, our faxes and bridging the gap between businesses and their customers as the neighborhood as well.
Our long term vision of being the trusted global cheapest way, that's what I want Fabulous worldwide.
Okay.
Speaker 3: While we have made substantial progress towards realizing this vision over the past few years, our work over the last year in particular has accelerated our road...
While we have made substantial progress towards realizing this vision over the past few years, our work over the last year.
And that has accelerated our road map.
Speaker 3: Today's version of Calera has increased capabilities and influence across our global footprint and China Law.
Ladies bathroom escalator is increased capabilities and new clients across our global footprint and chime in Las Vegas.
Speaker 3: Combined with consistent execution in our existing operation, we now have a more diversified approach to growth that will enable us to compete in more markets and at a greater scale.
Combined with consistent execution and our existing operation. We now have a more diversified approach to grow that will enable us to compete in more markets and at the great escape.
Speaker 3: Our chief financial officer, Giacomo Dalalio, will discuss our financial results shortly. But before I end over the call, I'd like to look up a few recent highlights from our stellar quarter and the... This article was legion's report 5 Disciple The
Our chief financial officer of exactly what the law.
We'll discuss our financial results shortly but before I end the call I'd like I'd like to look up a few recent highlights from our stellar quarter India.
Speaker 3: Looking at some of our key operating metrics, in the fourth quarter, we delivered 15.1 billion billable messages and connected 1.7 billion voice calls, both representing new quarterly records.
Looking at some of our key operating metrics in the fourth quarter, we believe at 51 million billable messages and connect and $1 7 billion by schools, both representing New quarterly records for Kelly.
Speaker 3: In our largely volume-based business, this is a display of our ability to leverage the benefits of scale and is an adding which we hope to drive continued growth in the future.
Our longevity volume based business. This is a display of our ability to leverage the benefits of scale and seasonality, which we hope to drive continued growth in the future.
Financially our fourth quarter results were a reflection of the new collection.
Speaker 3: Financially, our fourth quarter results were a direct reflection of the new Calera that we had to build throughout 2021.
Throughout 2021.
Speaker 3: even through what was an uncertain and chaotic time for our industry and our partners, to remain consistent and outperform even our own expectations.
Even through what was an uncertain time for our industry and our partners will remain consistent and outperformed even our own expectations.
Speaker 3: highlighted by our first quarter in which we were a bit positive in our time as a public company.
And by our first quarter in which we were.
EBITDA positive in our time as a public company.
Speaker 3: For most the quarter and year, we once again set new records for revenue, adjusted gross profit, and adjusted the DBA.
But most of the quarter and year, we once again set new records for revenue adjusted gross profit and adjusted EBITDA.
Speaker 3: Our full year revenue was 267.7 million with 90 million coming in the 4th.
Our full year revenue was 267 7 million with 19 million coming in the fourth quarter.
Speaker 3: Even while only accounting for seven months of engaged revenue following the acquisition date, this represented an 82% increase versus the prior calendar year and the 103% increase for Q4 2021 versus Q4 2020.
Why.
On the accounting for seven months or thin gauge revenue. Following the acquisition date. This represented 82% decrease in the bathroom for your calendar year.
And one of them by then.
I think a useful Q4 2021 .
Q4, 'twenty 'twenty.
Speaker 3: Our 2021 adjusted gross profit was 61.4 million with 22.8 million coming in the fourth quarter with a 145% increase compared to the year ago period.
How about 2021 adjusted gross profit was 61 4 million with 22 8 million in the fourth quarter with 145% decrease compared with the year ago period.
Speaker 3: Our adjusted gross margin in the full year and the fourth quarter improved as well, with 22.9 and 25.3% respect.
Our adjusted gross margin the full year in the fourth quarter improved as well with $22 nine and 25, 3% respectively.
Our full year adjusted EBITDA.
Speaker 3: Our fully adjusted NDDB, a BDA, increased nearly five times to 18.6%
EBITDA increased nearly five times to $18 six medium.
Speaker 3: 7% of total revenue compared to 3.2 million, 2.2% of total revenue in the comparable year ago period.
7% of total revenue.
Compared to $3 2 million three 2% of total revenue in the comparable year ago period.
Speaker 3: In the fourth quarter, adjusted EBDBA, increased 498% to $9.6 million, 10.7% of total revenue, compared to $1.6 million, 3.6% of total revenue in the comparable year-ago period.
In the fourth quarter adjusted EBITDA increased four four.
498% to $90 6 million.
10, 7% of total revenue compared to $1 6 million.
6% of total revenue in the comparable year ago period.
Speaker 3: In addition to the above record KPIs, our full year adjusted earnings per share achieved a new milestone by reaching 16 cents per basic share and 13 per diluted share based on 37 million and 48.1 million weighted average shares outstanding respectively.
In addition to the above record Kpis.
Full year adjusted earnings per share achieved a new milestone by reaching 16 cents per basic share and diluted.
Diluted share based on 57 million and 48.
One 1 million weighted average shares outstanding respectively.
Speaker 3: We are encouraged by our ability to remain stable from choppy waters in our space and expect to continue achieving new milestones in the waters ahead.
We are encouraged by our ability to remain stable.
You will see in our space and expect to continue achieving new milestones in the fourth quarter.
<unk>.
Speaker 3: In addition to our standard measures of success within our business, this quarter we are introducing a new KPI, which is our dollar-based net expansion.
In addition to our standard leisure itself taxes within our business. This quarter, we are introducing a new API, which is our dollar based net expansion rate.
Speaker 3: In line with standard industry definition, our dollar-based net expansion rate is a metric that says to identify a rate at which customers' accounts increase their usage of a product, expand the usage of a product with new applications, or adopt a new product within the Kelleher class.
With standard industry definitions, our dollar based net expansion rate is a metric that says we identified right.
<unk> customers account increased their usage of our products expand their usage of our products and the new applications or adopt the new product within the <unk> platform.
We think that dollar.
Speaker 3: We think that dollar-based net expansion rate will be meaningful indication of our effort to increase revenue from existing cash.
Base net expansion rate will be meaningfully indication of what I spoke to increase revenues from existing customers.
In 2021, our dollar based net expansion rate was 130%.
Speaker 3: Before I pass it over to Jacomo in just a moment, a few operational highlights stand out as well. As many of you listening today well know, in 2021 we successfully acquired an integrated engage bolstering our United States customer base and infrastructure network and are the new product to our offering, specifically MMS and FCS.
Before I pass it over to <unk>, just a moment a few operational highlights turns out as well.
As many of you listening today, well know in 2020 , one we successfully acquired and integrated engage bolstering our United States customer base and the infrastructure network and other new products to our offsetting specifically MMS and Fcs messaging.
Speaker 3: A key consideration in our combination with Engage was their existing messaging presence that we have provided a greater reach for our business.
Key consideration in our combination with thin gauge what their existing messaging presence that maybe I can you provide us greater reach for our business.
Speaker 3: Much of the engaged footprint is in the United States, and they have direct connection to all Tier 1 cars.
I'm not sure I'm engaged footprint is in the United States and they have a direct connection to all tier one caveat.
Speaker 3: With this expansion into American markets through engaged infrastructure, for the fiscal year 2021, we were closer to having around a third of our revenue from each of the Americas, approximately 29%, Europe , approximately 36%, and Asia, approximately 35%.
With this expansion into American market through engaging for flagship for the fiscal year 2021 workload that we're having around a third of our revenue from each of the Americas, approximately 29% Europe , approximately 36% and Asia approximately 35.
That's right.
Speaker 3: a favorable balance that makes Calera one of the most prominent and geographically diverse C-pass companies in the world.
A favorable balance that makes gilead I one of the most prominent and geographically diverse bus companies in the world.
Speaker 3: We also successfully integrated Bandir, now Caleron Video Offering, as one of a multitude of investments worth expanding our omnichannel capability.
We also successfully integrated <unk> now can add on the BD offering is one of a multitude of investments towards expanding our omnichannel capabilities.
Speaker 3: One of our main goals for the year was to further develop our omnichannel services offering. And in doing so, improve our managing profile as well.
One of our main goals for the year was to further develop our omnichannel services offering and in doing so improve our margin profile as well.
Speaker 3: Beyond providing the most global suite of services to our partners, new channels such as video and audio calling have better margins than our traditional messaging channel due to the additional costs associated with messaging next.
Beyond providing the most robust suite of services, while our partners new channels, such as video and audio call me.
The margin than our traditional messaging channel.
The additional costs associated with messaging networks.
Speaker 3: This year, most of my investments, including the acquisition of Mandir, Calera Video and audio made significant progress, highlighted by the aforementioned record volume in those channels.
Do you see most of it by investments, including the acquisition of <unk>.
Made significant progress highlighted by the aforementioned had record volume in both channels.
Speaker 3: We have already seen the impact on this progress on our margin profile, and while we have worked ahead of us before our platform is truly omnichannel at the global scale, this advances early progress points in our ongoing commitment to creating an omnichannel platform.
We have already seen the impact on this progress on our margin profile and while we have work ahead of US before our platform is truly omni channel at the global scale. These are banks and the progress points.
In our ongoing commitment to creating an omni channel.
Speaker 3: The combination of a steadily growing call messaging business along with new evolving channels underlines both the problems opportunities available in our legacy business as well as the opportunity to grow our only channel.
The combination of a steadily growing call messaging business, along with new with all the channels and the lines. Both resolved we see opportunities available in our legacy business as well as the opportunity to grow our omnichannel offering.
Speaker 3: Our 2021 first quarter was our first full quarter with Engage and Bandier completely integrated into the business. And we now believe we have reached the point in our integration where these businesses are part of Calera. Now that our integration are more than a quarter in our rear view mirror, our continued growth rate and margin expansion indicates to us that our growth strategy within our traditional businesses unit remains viable.
Our 2021 third quarter was our first full quarter with Cengage <unk> completely integrated into the business and we know we have reached the point in our integration. While these businesses are part of Gallagher.
Now that our integration of more than a quarter in our view.
Our continued growth rate and margin expansion.
Indicates to us that our growth strategy within our traditional businesses units really.
A viable.
Speaker 3: We have a few other updates to share as well. First of all, we successfully uplifted from the New York Stock Exchange American to the New York Stock Exchange. Graduating to the NYSE, the premier worldwide market was a significant market.
We have a few other updates to share as well.
In August we successfully at least from the New York Stock Exchange.
They come to the New York Stock exchange and graduating to the NYSE Premier worldwide not it was a significant milestone.
Speaker 3: Being able to meet these more selective criteria is a testament to our improvement financially and operationally over the past few years.
And you're able to me.
As more selective criteria is a testament to our improvement financially and operationally over the past few years.
Speaker 3: This year, we also launched applications on both the Shopify and the Salesforce marketplaces, connecting our C-Pass channel to a potential addressable market for over 1 million users of their software service platforms.
This year, we also launched and applications on both the shopify in the face loss marketplaces, connecting our sheep as John noted to a potential addressable market of over 1 million views of their software as a service platforms.
Speaker 3: This year was another strong year for the industry recognition as well. During the year we received the following notable distinctions.
<unk> was another strong year for the industry recognition as well.
Midyear, we received the following notable distinctions.
Speaker 3: C-Pass provider of the year at the Juniper Research Future Digital Award 2022.
<unk> us provider of the year at the Juniper reserves future Digital Awards 2022.
Representing vendor gardeners market guide for CBS .
Speaker 3: Representative Bender, Egana's Market Guide for CIPA.
Speaker 3: Establish leader in global CIPAS by Julie Perrazzo.
Established leader in global feedback by Junipers edge.
Speaker 3: one of the top chatbot solution providers by CIO applications.
One of the top chart lob solution provider.
Ill applications.
Speaker 3: best RCS provider and the future digital awards by Julie Perrozza.
That's the Rcs provider of the future Digital awards by Juniper Research.
Speaker 3: We were also recognized as trusted vendor by Crowdlist and software suggest customer choice award in 2021.
We were also recognized trusted vendor might cross mess.
In software suggest customer choice award in 2021.
Speaker 3: Lastly, we were recently awarded the Platinum Mover and Shaker in the Tycho with the Free Award at the Uniper's Future Digital Awards 2020.
Lastly, we were recently awarded the platinum mover and Shaker Tactical you just see award a big unit does that future Awards 2022.
We very much appreciate the recognition.
Speaker 3: We very much appreciate the recognition we have received from such respectful sources over the course of the year, recognition that validates the work our team is doing to build a more comprehensive platform of service.
C zone, such with respect those sources over the course of the year.
That validates the work our team is doing to me the more comprehensive platform offset it.
Speaker 3: In aggregate, the growing number of industry accolades we are receiving and the score and increasing awareness of Calera is a major player within the CIPAS NARC.
In aggregate the growing number of industry accolades and we are receiving underscore an increasing awareness of cologuard as the major player within the us market.
Speaker 3: In summary, 2021 was a transformational year for our business, one that represented reaffirmation of our deliberate growth track.
In summary, 2021 was a transformational year for our business one that represents a reaffirmation of our deliberate growth strategy.
Speaker 3: As we move into 2022, we continue to believe that our growth strategy will drive sustainable long term.
As we move into 2022, we continue to believe that dollar growth strategy will drive sustainable long term growth.
Speaker 3: As a reminder, that strategy relies on three main pillars.
A reminder, that strategy relies on three main pillars.
Speaker 3: One, we are focused on expanding our geographical footprint.
One we are focusing on expanding our geographical footprint.
Speaker 3: As mentioned, Calera revenue comes from global customers and we are working to both expand our food free and maintain our diverse revenue split among geoggers.
As mentioned I'm calorie revenue come from global customer and we are working to expand our footprint and maintaining our diverse revenue split among geographies. The submission is driven by our view of the us market as a whole which is very fragmented underpenetrated in many parts of the world.
Speaker 3: This ambition is driven by our view of the CIPAS market as a whole, which is very fragmented and under-penetrated in many parts of the world.
Speaker 3: We believe we are well positioned to expand our footprint to other geographies that would benefit from CIPA support.
We are well positioned to expand our footprint into other geographies.
Benefit from CPAP to pork.
Speaker 3: Two, we will continue to invest in our omnichannel suite of seven.
So we will continue to invest in our omni channel suite of services. It's our goal to meet our partners' whichever channel as they are required to best connect with their customers as video and voice communication proliferate globally, expanding to new communications place remains an important area of investment.
Speaker 3: It's our goal to meet our partners on whichever channels they require to best connect with their customers.
Speaker 3: as video and voice communication proliferate globally, expanding into new communication streams remains an important area of investment for our...
Sure.
And lastly, we remain committed to secure trusted service our business thrives in industries that have the highest standards for security in their communication.
Speaker 3: And lastly, we remain committed to secure trusted service. Our business thrives in industries that have the highest standards for security in their communication with that consumer.
Ms <unk>.
Speaker 3: banks, financial institutions, as a example, they all need to be able to trust that their interaction with consumers are handled with the utmost security and consistency.
Banks financial institutions as good an example that all need to be able to trust their interaction with consumers to handle them with more security and consistency.
Speaker 3: later delivers on that in a way that no other use to play a part.
Laila delivers on that in a way that no other industry players.
Speaker 3: While other players strive for partner volume, we know that our expertise in trust with CIPAS influences customers' attention, and that with the right partners, this is an era in which we can excel.
While other players side for five and a volume we know that our expertise in trust vascepa influences customers sanction and that with the right partner. This is an area that we wish we can access.
Speaker 3: And with that, I'll now turn the call over to our Chief Financial Officer Giacomo Dalaglio to discuss our financial results for the quarter in greater detail. Giacomo?
And with that I'll now turn the call over to our Chief Financial Officer, Jack <unk>.
Our financial results for the quarter in greater detail Jack.
Sarcoma.
Speaker 4: Thank you, Dario. Turning now to our financial results for the fourth quarter and the full year ended December 31, 2021.
Thank you Daniel turning now to our financial results for the fourth quarter and full year ended December 31st 2021.
Speaker 4: First of all, let me set the tone by saying that for both the course and the year, we once again achieved new records of our KPIs. Revenue adjusted gross profit, adjusted EVDA, and adjusted earnings per share in our time as a public.
First of all let me set the tone by saying that for both the quarter and the year.
Once again achieved new records of our Kpis revenue adjusted gross profit adjusted EBITDA and adjusted earnings per share in our time as a public company.
Speaker 4: Our total revenue in the fourth quarter increased 103% to 90 million from 44.3 million in the comparable year ago period.
Our total revenue in the fourth quarter increased 103% to $90 million from $44 three media in the comparable year ago period.
Speaker 4: For the full year, the total revenue increased 82% to 267.7 million from 147.4 million in the comparable year ago period. And these are only
For the full year total revenue increased 82% to $167 7 million from Andre and $47 4 million in the comparable year ago period.
And these are only.
Speaker 3: accounts for seven months of engaged revenue following the acquisition date. It grew during the quarter and the year was driven by the complete integration of the engaged and bandia business as well as strong organic revenue growth across channels and a well-balanced portfolio across geographies.
Accounts of four seven months of engage your revenue following the acquisition date, they grow during the quarter and the year was driven by the complete the integration of <unk>.
The engagement <unk> business as well as the strong organic revenue grow across chinas, and a well balanced portfolio across geographies.
Speaker 3: Gross profit increased 169% to 21.1 million from 7.8 million in the comparable year ago period. Gross margin for the fourth quarter of 2021 increased to 23.5% compared to 17.7% for the fourth quarter of 2020.
Gross profit increased to 169% to $21 1 million from $7 8 million in the comparable year ago period.
Gross margin for the fourth quarter of 2021 increased to $23.
5% compared to 17, 7% for the third quarter of 2024.
Speaker 4: For the full year ended December 31st, 2021, gross profit increase 135% to 57.5 million.
For the full year ended December 31st and fun and friendly one gross profit increased 35% to 57.
$5 million.
Speaker 3: from $24.4 million in the comparable year ago period. Gross margin the full year 2021 increased to 21.5% compared to 16.6% for the full year 2021.
From $24 4 million in the comparable year ago period.
Gross margin in the full year 2021 increased to 21 point.
Our sand compared to 16, 6% for the full year 2012.
Speaker 4: Increases in gross profit were driven by increases in revenue for the quarter and the year that out pays the costing.
Increases in gross profit was driven by increases in revenue for the quarter and the year that the out phase that cost increases the increases in gross margin was largely due to the.
Speaker 4: the increase in gross margins were largely due to the
Speaker 4: engage in barrier integration and increase performance by Calera Video and Calera Voice as well as by the campaign registry, our software as a service offering that has developed over the past few quarters.
Engagement <unk> integration and the increased performance by Kelly I'd be doing call. It a voice as well by the campaign registry our software as a service offering.
Over the past few quarters.
Speaker 4: Net loss totaled 7.3 million or 17 cents per share based on 41.9 million average share outstanding. Compared to a net loss of 4.5 million or 15 cents per share based on 29.7 million weight average share outstanding comparable year ago period.
Net loss totaled $7 3 million or <unk> 17 per share based on 41 9 million shares outstanding compared to a net loss of $4 5 million or 15.
A share based on $29 70 million weighted average shares outstanding in the comparable year ago period.
Speaker 4: For the full year 2021, net loss total $34 million or $92.10 per share based on 37 million weighted average shares outstanding, compared to a net loss of $26.80 million or $1.09 per share based on 24.7 million weighted average shares outstanding. The comparable year ago piece.
The full year 2021, net loss totaled $34 million or 92.
Share based on 37 million weighted average shares outstanding compared with <unk>.
Net loss of $26 8 million or $1 90 per share based on $24 7 million weighted average shares outstanding in the comparable year ago period.
Speaker 4: the increase in net loss over the year was mainly due to transaction costs, fundraising costs, and the increasing amortization of acquired funds.
The increase in net loss of over the year was mainly due to transaction costs hung raising costs, an increase in amortization of acquired.
Yeah.
Adjusted gross profit.
Speaker 4: a non-GAF measurement of operating performance increased 184% to 22.8 million from 8 million in the comparable year ago period. Adjusted gross margin for the fourth quarter of 2021 was 25.3% compared to 18.1% in the comparable year ago period.
non-GAAP measurement off operating performance increase and an 84% to $22 8 million from 8 million in the comparable year ago period, adjusted gross margin for the third quarter of <unk> 21 was 25, 3% compared to $18 one.
They are saying in the comparable year ago period.
Speaker 3: For the full year 2021 adjusted gross profit increased under 45% to 61.4 million from 25.1 million in the comparable year ago period. Adjusted gross margin for the 2021 full year was 22.9% compared to 17% the comparable year ago period.
For the full year of 2021, adjusted gross profit increase under our 45% to 61 point for.
<unk> 4 million from $25 1 million in the comparable year ago period.
Adjusted gross margin for the 2021 full year was 22, 9% compared to 17% the comparable year ago period.
Speaker 4: Adjustment net income and non-GAAP measurement of operating performance increased 3,056% to 3.9 million or 9 cents per basic share and 8 cents per delivery share based on 41.9 and 51.9 million weight average shares of spend years.
Adjusted net income a non-GAAP measure.
Operating performance increased to 56% to $3 9 million or nine cents per basic share and <unk> <unk> per diluted share based on 41, nine and $51 9 million weighted average shares outstanding was 50 million.
Speaker 3: It's an increase from $124,000 or $0 for both basic and divisory share based on 29.7 and 42.8 million weight average shares outstanding, respectively, in the comparable year-ago period. For the full year, 2021 adjusted net income increase. Isn't this value elite?
<unk> from <unk>.
124000 dollar or euro dollar.
For both basic and diluted share based on 20.
$29, seven and 42 8 million weighted average shares outstanding.
In the comparable year ago period.
Full year 2021, adjusted net income increase.
1023% to $6 1 million or 16 cents per basic share and <unk> <unk> cents per diluted share based on 57, and 48 1 million weighted average shares outstanding at a speed.
Speaker 4: 1023% to 6.1 million or 16 cents per basic share and 13 cents per deleted share based on 37 and 48.1 million weight average share outstanding.
Speaker 3: This is an increase from loss of $656,000 or 3 cents per basic and diluted share based on 24.7 million weight-averse shares outstanding in a comparable year-ago period.
This is an increase from a loss of 600.
$56000 or three per basic and diluted share based on 24 by 7 million weighted average shares outstanding in the comparable year ago period.
Speaker 4: Adjust ABA and unguet measure of operating performance increased five times to $9.6 million, 10.7% of total revenue compared to $1.6 million, 3.6% of total revenue in the comparable year ago period. For the full year 2021, Adjust ABA increased nearly five times to $18.6 million, 7% in many cases since 2003.
Our adjusted EBITDA and a great measure of operating performance increased five times grew $9 6 million 10, 7% of total revenue compared to $1 6 million three 6%.
<unk> of total revenue in the comparable year ago period.
Full year 2021 adjusted EBITDA increased nearly five times.
$18 6 million or 7% of total revenue compared to $3 2, million% to 2% of total revenue in the comparable year ago period.
Speaker 3: of total revenue compared to 3.2 million, 2.2% of total revenue in the comparable year ago period. The increase in adjusted BDA was primarily due to the impact of the business combination with Engage and Bandir and cost synergy between the two legacy...
Increasing adjusted EBITDA was primarily due to the impact of the business combination with the engagement and cost synergy between the two legacy businesses.
Speaker 3: At the end of the fourth quarter, cash equivalent, the cash and short-term investment were $97.9 million compared to $37.8 million on December 31st, 2020. Our solid financial position at the end of the fourth quarter is also reflected in our net current assets, which exceed $80 million and in a significant reduction in our loan facilities.
At the end of the fourth quarter cash cash equivalents restricted cash and short term investments were $97 9 million compared to $77 8 million at December 31st Glenn frame, our solid financial position at the end of the fourth quarter is also reflected in our current assay, which exceed the $80 million.
And then in a significant reduction in our loan facilities.
Speaker 3: reducing to 38.7 million on December 31, 2021, from 48 million at the end of the previous.
Mission to $58 7 million at December 31st 2021 from $48 million at the end of the previous year.
Speaker 4: our debt financial trust is only marginally exposed to foreseeable raise in interest rate with over 80% of our financial building at coupon interest rate and the average variable interest rate under 3% bearing on our loans with Italian banks. For the full year 2020
Our financial structure is only marginally exposed through the foreseeable raising interest rate with the over 80% of our financial beating our coupon interest rate in D&A advantage, a variable interest rate under 3% that's bidding on our lowest with your tenant base.
For the full year 2021 net cash use.
Speaker 3: operating activity was 11.9 million, primarily affected by over 22 million transaction and fundraising cash out.
In operating activities was $11 9 million, primarily affected by over 22 million transaction and palm raising cash outflows.
Speaker 3: Before I turn the call back over to Davio, I'll now take a few minutes to provide our financial outlook for the remainder of the day.
Before I turn the call back over to Doug.
Now take a few minutes to provide our financial outlook.
A reminder of the year.
Speaker 4: As a reminder, at this time, Calera provides quarterly and annual revenue guidance, and we believe that these metrics will be key indicators for the overall performance of our...
As a reminder, at this time, Colorado provides quarterly and the annual revenue guidance.
We believe that these are metric to be key indicator for the overall portfolio muscle of our business.
Speaker 4: Moving to our guidance, as a reminder, our fiscal year for 2022 ends on December 31st, 2020.
Moving to our guidance as a reminder, our fiscal year 2022 will end on December 31st 2022.
Speaker 4: As of today calls, we have now spent revenue for the first quarter to range between 84 million and 86 million. And for the revenue...
As of today, Colin So we have now expected revenue for the first quarter range of between $84 million and 86 million and for the revenue.
Speaker 3: for the full year 2022 to range between 400 million and 405 million. Overall, we remain highly confident in the financial health of our business as well as our ability to sustain growth for the foreseeable future.
For the full year 2010 to two range of between $400 million and 405 million overall, we remain confident in the financial.
Our business as well as our ability to sustainable growth for the foreseeable future is.
Speaker 4: This completes my financial summary. I'd now like to turn the call back over today to ramp up our remarks for the call.
This completes my financial summary.
Now like to turn the call back over to Dave to ramp up our remarks for the call.
Got it.
Thanks Jack.
Speaker 3: Looking back, we believe this past year and the fourth quarter will serve as a bellwether for the future direction of our business. Our geographical footprint has materially expanded into a global balance that we will look to maintain moving forward.
Looking back we believe this past year in the fourth quarter. It will serve as a bellwether for the future direction of our business our geographical footprint has materially expanded into Iot global balance.
We will look to maintain moving forward.
Speaker 3: Our inroads into new growth areas, including Calera Video and Voice, along with promising results from the campaign registry, have begun to drive leverage into our operating model. Combined with the record and growing volume we are driving across our global customer base, we see a clear path to scale and increase profitability over the long term.
Our inroads into new growth areas, including color video and voice along with promising results from the campaign.
It began to drive leverage through our operating model.
Mining was tobacco and growing volume, we are driving across our global customer base, we see a clear path to scale and increase in profitability over the long term.
Above all we are remain consistent in our ability to deliver on our promises and to execute against our growth strategy moving forward. We will look to build on our steady track record and positive momentum as we advance along our journey to become the trusted partner in the rapidly expanding.
Speaker 3: Above all, we have remained consistent in our ability to deliver on our promises and to execute against our growth strategy. Moving forward, we will look to build on our steady track record and positive momentum as we advance along our journey to become the trusted partner in the rapidly expanding and evolving CPAS market. And with that, we are ready to open the call for your questions. Operators, please provide the appropriate instructions.
And again, they've all been seatback market.
And with that we're ready to open the call for your questions. Operator, please provide the opportunity doctors.
Thank you.
Speaker 2: At this time we will be conducting a question and answer session. If you would like to ask a question, please press star 1 on your telephone keypad.
At this time, we will be conducting a question and answer session.
If you would like to ask a question. Please press star one on your telephone keypad.
Speaker 2: A confirmation tone will indicate your line is in the question queue.
A confirmation tone will indicate your line is no question Q.
Speaker 2: You may press star 2 if you would like to remove your question from the queue.
You May press Star two if you would like to remove your question from Q.
Speaker 2: For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. As a reminder, we ask that you limit to one question and one follow-up. One moment please while we poll for questions.
For participants using speaker equipment, it may be necessary to pick up your handset.
Before pressing the star keys as a reminder, we.
Ask that you limit to one question and one follow up one moment. Please while we poll for questions.
Thank you.
Speaker 2: The first question comes from the line of Tim Horan with Oppenheimer. Please go ahead.
The first question comes from the line of Tim Horan with Oppenheimer. Please go ahead.
Speaker 4: I'm going to ask a few questions if okay, and then I can, I got a bunch of I can hop back in line. But, um, can you maybe talk about the currency and COVID impacts on revenue in the quarter and maybe on the on the guidance going forward? If you have that?
I'm going to ask a few questions of Okay, and then I can I've got a bunch of I can hop back in line, but.
Can you maybe talk about the currency and COVID-19 impacts on revenue in the quarter and maybe on the on the guidance going forward. If you have that.
Speaker 4: This is Giacomo, I can take this question. So of course we have an adverse effect on currency on revenues in euros because the euros
And did the Jackup market and take the next question. So of course, we are.
Have an adverse effect on currency.
Revenues.
Code.
EMEA rose because of the euro.
Speaker 4: value decline when we transfer the revenue to dollars and that can be an impact going forward but is already included the guidance of a few million dollars so our guidance is still very solid nevertheless
They do decline when we transferred the diving into dollars.
That can be an impact.
Forward that is already included in the guidance of a few million dollars. So our guidance is team that is solid.
Nevertheless, these effect.
Yeah.
And any impact from Covid on the quarter and maybe can you talk about the currency impact on the quarter you just reported.
Speaker 5: And any impact from COVID on the quarter? And maybe can you talk about the currency impact on the quarter you just reported?
Yeah.
About the Colby, let me say that.
Yes.
It is much less affected.
From the past because the government there.
The new policy and there are no any.
Yeah.
Speaker 4: big restrictions, in particular in Italy and India, where we recovered very well.
Thanks, Sherman, particularly in Italy, and India, where we need to cover the.
Very well.
Speaker 4: About the quarter is the same as next year's projections because Q4 this year we have a stronger dollar compared to the previous Q4 last year.
About the quarter.
The same for next year projection because.
Q4, this year, we have a stronger dollar in comparison with the.
Previous.
Q4 last year.
Speaker 5: Great. And then on the gross margin front, you obviously have a lot of leeway if you want to grow revenues faster or slower depending on the gross margin. Can you talk about, do you think the gross margins can continue to expand here? Any kind of color around what you're expecting for gross margins the next year or two.
Great and then on the gross margin front you. Obviously you have a lot of leeway, if you want to grow revenues faster or slower depending on the gross margin.
Can you talk about do you think the gross margins can continue to expand here.
Any kind of color around what you're expecting for gross margin for next year or two.
Speaker 4: Yes, so this is our record gross margin, just the margin is 25.3% ever and we are continuing expanding considering the seasonality.
Yes.
So this is our record of gross margin.
Because margin is $25 three ever and we are continuing expanding consider the seasonality.
Okay.
Speaker 4: As you know very well, we have a seasonality and the second half of the year because margin is higher than the first one, but we expect to increase gross margin in the next year.
You know very well, we have a seasonality and the second half of the year because the margin is higher than in the first one but.
We expect that.
To increase the gross margin in the next years.
Speaker 5: And then lastly, the dollar based net expansion 130% for the year. It was down a little bit in the fourth quarter. Can you give us the numbers if you have them for 2020?
And then lastly, the dollar based net expansion of 130% for the year.
It was down a little bit in the fourth quarter can you give us some numbers if you have them for 2020.
Speaker 5: also the full year and the quarter, if you have them? Or why was it declining in the first quarter? Yeah, so we started from this quarter to give this. And we measure for the full year, that is 130. And the quarter is 124. Of course, there is in the...
Also the full year in the quarter, if you have the more as well.
Why was it declining in the fourth quarter.
Yeah, Yeah. So we started from this quarter to be able visa and we measure for but when you hear about the brand and the uncertainty and the court is online 24 of course.
In the full year.
Speaker 4: only seven months of engage, so we change a little bit the perimeter, but let me say that both are very very strong and
Only seven months of engaged so we changed a little bit the perimeter, but let me say that both are very very strong.
Speaker 4: they demonstrate the ability to grow with the same customer for Calera.
<unk> demonstrate.
The ability to.
Two to grow with the same.
Customer for Colorado.
Thank you.
Thank you thank you Tim.
Speaker 2: Thank you. The next question comes from the line of Jonathan Navarrait with Covid. Please go ahead.
Thank you. The next question comes from the line of Jonathan <unk>.
<unk> <unk> with Cowen. Please go ahead.
Speaker 6: Hey, good afternoon and congrats on the quarter. In particular, it's a great job on the adjusted gross profit margin. Can you walk us through one of the main components, what were the main components of the improvements and to what extent did engaged revenue mix help in the improvement?
Hey, good afternoon, and congrats on the.
In the quarter.
In particular, a great job in DHL adjusted gross profit margin.
Can you walk us through one of the main components what were the main components of the improvement and to what extend at engage.
Engage revenue mix helped.
And the improvement.
Speaker 4: Yes, maybe Giacomo, I want only to address briefly the question and then I will hand over to you. Jonathan, in general, our Grossman.
Yes.
Gabe jacamar companies, but Jack months not only.
To address briefly the question on that and then I will handle that for you.
Jonathan in general our gross margin.
Speaker 3: tend to expand for multiple reasons, not only one reason.
Then to expand for multiple reasons not only one reason.
Speaker 3: One is related to the integration with Fengage, which having a much wider footprint in the United States rather than Calera before the combination has been very accretive in terms of financial magic, so the gross magic. So there's been an help. The other thing is that we're
One is related to the integration with thin gauge with Chevy a much wider footprint in the United States.
Rather than an <unk> before the combination has been very accretive in chamonix.
Gross margin so it's been a mess.
The other thing is that we are working on the product mix.
Speaker 3: investing in new channels that typically have a much higher gross margin. The campaign registry is a good example, voice, video, all of these channels comes with an higher gross margin because you don't add in the cost of goods sold, the cost of determination, you should switch it and it's more relevant and varies significantly by count.
Investing in new channels that typically have a much higher gross margin. The campaign registry is a good example voice video all of these channels counts with an eye to grasp.
Gross margin because you've done that in the cost of goods sold the cost of the termination, which is the switch and it's a more relevant and bodily significantly by by country.
Speaker 3: The other thing that is helping is the scale, because the volume is this, the higher the volume, the better the termination.
The other thing that is helping is the scale.
This is a volume business the idea of the volume berth of the termination fee.
Speaker 3: and this is functional to the expansion, towards the expansion of the gross match. Giacomo, if you wanna add anything to this show, I think you address, yeah, you address all. So you are proud of me, the help of Engage for geographic footprint in the US, these are all the drivers that bring high-
And these dysfunctional through the expansion towards the expansion of the gross much Jack if you want to add anything to.
Alright, thank you.
Yes, yes, you're either sold so it's not a problem.
And Paul for engagement toward a geographic footprint.
<unk> footprint in the U S. These are all the drivers.
Bringing high Big mismatch.
Speaker 6: Understood. Thank you. On the revenue front, so $19 million for the quarter, how much does it engage contribute to that 90?
Understood. Thank you.
On the revenue front, so $90 million for the quarter, how much of the engage contribute to that 90.
Speaker 4: In the quarter, engage is 37.8 minutes.
In the quarter engage.
7.8 to me.
Speaker 6: Okay, and just to tell us, if I may, I know you mentioned campaign registry. How's the process of that going? I think last quarter we mentioned that the margins there were around 80%. Did the margins remain at that level, or are they changing?
Okay.
Okay.
Yeah.
And just last one.
I mean, I know you mentioned campaign registry.
How has the process of that going I think last quarter, you mentioned that the.
The margins there were about 80%.
Our margins remain at that level or are they changing.
Speaker 4: Now, maybe it's confusing with a bandir that has a margin of about 80% of video.
No.
Maybe you're confused.
But there is a margin of about 80% of anemia.
Yeah.
Speaker 4: The margin for campaign registers is more around 70% and I can disclose the revenue for the full year 2021 is 6.5 million for the full year.
The margin for a company of agencies and more around 70%.
I can disclose the revenue for the full year 2021, 6.5 million, a 40 basis point either.
Speaker 6: Perfect. Great. Thank you so much guys and congrats again.
Perfect great. Thank you so much guys and congrats again.
Thank you Jonathan.
Speaker 2: Thank you. The next question comes from the line of Mike Latimore with Northland Capital. Please go ahead. Great, thanks. Alright, thanks.
Thank you. The next question comes from the line of Mike Latimore with Northland Capital. Please go ahead.
Great. Thanks, Yeah, congratulations great results there.
Speaker 7: So I guess, thank you, Jack, I'm on the economy just made about the campaign registry at 6.5 million. That's a fair amount above. I think what you were originally thinking kind of mid year, I guess. Can you just talk a little bit about the drivers of that? And do they continue into 2022? And any just general projections on the campaign registry?
So I guess, thank you Jakob on the comment you just made about the campaign registry at $6 5 million. That's a fair amount above I think what you were originally thinking kind of mid year. I guess can you just talk a little bit about this.
The drivers of that and do they continue into 2022.
Just general projections on the campaign registering for 2022.
Speaker 4: Yes, so we started to record revenues, significant revenues, let's say, on the second half of the year and we are in the...
E.
Yes.
So with.
We started to record revenues significant revenue, let's say on the second half of the year and.
We are in the.
Speaker 4: scale up of the operation with the campaign register and
Scaling up off of the operation.
The compare register and the.
Speaker 4: is reasonable to forecast for next year, for this year 2022 to cross the double digit in revenue.
Is that reasonable.
Our forecast for next year for the year 2022.
Two to cross the double digit in revenue.
Okay.
Speaker 7: Very good. And then just in terms of the overall business, it seemed like demand was fairly broad based, I guess. Are there any regions that are maybe outperforming more than others? And should that continue kind of this year?
Okay.
And then just in terms of the overall business. It seems like demand was fairly broad based I guess.
Are there any regions that are maybe outperforming more than others and should that continue sir.
Speaker 4: I think the revenue, as I said during the call, is very well balanced across the geography. We saw a very good recovery in India, in particular in Asia, after the pandemic.
I think the revenue.
Said that union.
The call is very well balanced across the geography.
We saw very.
The recovery in India in particular in Asia after there.
The pending.
Yeah.
Right.
Speaker 7: And then M-Gage looks like it's proven nicely sequentially. I guess, did that sort of hit or exceed your internal goals? And then what are some of the main factors in the sequential improvement? Awesome.
And then engage looks like it's improved nicely sequentially.
I guess does that sort of hit or exceed your internal goals and then what are some of the main factor.
Sequentially, yes.
No.
Also better so we receive engaging in June with the 10.
Speaker 4: also better. So we receive engage in June with the $10.2 million revenue in the month of June . And this quarter, the average monthly revenue is $12.6. So we increase in seven months 23.5%. I think it's a very, very important issue.
$10 2 million of revenue in the.
<unk> for the June .
This quarter the average monthly revenues 12, six so we increase and some amount of 23, 5% I think is.
That if any.
Important achievement.
Yes.
Alright.
Thank you.
Thank you Mike.
Speaker 2: Thank you. The next question comes from the line of George Sutton with Craig Haden.
Thank you. The next question comes from the line of George Sutton with Craig.
Hey, Liam Please go ahead.
Sorry, you mentioned that you are planning to invest in Omnichannel and.
Speaker 8: Dario, you mentioned that you're planning to invest in omni-channel. And obviously, you've got voice, video, and SMS capabilities. So I'm curious what you mean by the investment in omni-channel. Are there iterations to those deliveries that you're planning?
Obviously, you've got voice video and SMS capabilities. So I'm curious what you mean by the investment in Omnichannel are there iterations to those deliveries that you're talking about.
A good question Hello, George.
Speaker 3: We still have to expand our reach, our geographical footprint of our own China capabilities. So let me say both voice, video and the campaign registry at the moment have a local footprint in some regions. And we're working towards the expansion in the other regions of the same product.
We still have to expand our reach our geographical footprint of our omni channel capabilities. So.
Let me say, both voice video and the campaign registry at the moment.
Lockup footprint in some regions and we are working towards the expansion in the other regions itself the same product.
Speaker 3: And this is the explanation of the statement that I have made that will keep on investing in expanding the omnichannel play in multiple regions, rebalancing the mix between the traditional SMS business that is here to stay because SMS is...
And this is the.
The explanation of the statement that I've made with will keep on investing in expanding.
The Omnichannel play in multiple regions rebalancing the mix between the traditional SMS business that it's easier to say because that's a massive base.
Speaker 3: very significant for Kaleiwa and will keep on remaining very significant, but rebalancing the mix with other channels, this will be functional to the expansion of the gross margin profile and providing more value to the customers because it's easier to up selling of a new channel to an existing customer rather than winning a new customer as you can reasonably imagine.
Battery significant.
And we will keep on remaining very significant but rebalancing the mix with other channels. This will be functional to the.
The expansion of the gross margin profile and providing more value to the customers because it's easier to up selling of the new channels with existing customers rather than winning and you've got.
As you can.
Reasonably imagine.
Speaker 8: Gotcha. No, that's helpful. You made a point that the market is
Got you no. That's helpful. You made a point that the market is.
Speaker 8: both fragmented and under-penetrated, we are seeing a very rapid consolidation in the
Both fragmented and Underpenetrated.
We're seeing a very rapid consolidation in this space can you discuss.
Speaker 8: what you're seeing around you from a consolidation op.
Kind of what you're what you're seeing.
<unk> from a <unk>.
Consolidation opportunity.
Yes.
Speaker 3: Well, a lot of activities, a lot of talks among different players and different parties.
Well.
Lots of activity lots of talks.
Different players and different parties.
Speaker 3: a lot of work for the bankers, as you can imagine. And I believe that we are at the very, very early stage of the consolidation process. If you think that no one in the industry is a market share, a global market share that is relevant in this market. So this market is due to keep on consolidating.
A lot of work for the bankers.
As you can imagine.
And I believe that we are very very early stage of the consolidation process, if you've seen but no one in the industry as the market share that would be all about market share that is relevant to this market. So these markets do keep on consolidated.
Alright, perfect. Thank you.
Most welcome.
Yeah.
Thank you.
Speaker 2: Again, if you wish to ask a question, please press star 1 on your telephone key.
Ken if you will.
Wish to ask a question. Please press star one on your telephone keypad.
The next question comes from the line of Allen Klee with Maxim Group.
Speaker 2: The next question comes from the line of Alan Glee with Maxim Group.
Speaker 2: Please go ahead. Yes, hi. Can you talk about how you think about this revenue synergy opportunity from M-Gage going forward?
Please go ahead.
Yes, Hi can you just talk about how you think about this revenue synergy opportunity from engaged going forward.
Speaker 3: I will say one thing and then we'll hand it over to Giacomo. We'd no longer.
I will say one thing and then we'll end it over to Jacqueline mall, we'd no longer.
Speaker 3: think of Calera and Engage. We have one Calera and Engage is fully part of Calera.
Think of <unk>, and then gauge we have one <unk> and engages prudently part of color right.
Speaker 3: And going forward, it's going to be also complicated to keep an accounting.
And going forward is going to be also complicated to keep on accounting.
Speaker 3: of the two separate business because they are not separate, I think. And second thing, because due to the cross selling and the upselling, there's a lot of significant inter accounting between the two, let me.
Of the two separate business because they are not separately kind of thing and second thing because due to the cross selling and upselling them, there's a lot of.
Significant theater.
Accounting between the two.
Let me see pull my legacy.
Speaker 3: So we have one company, this company is Calera, and Calera is made by a number of different regions and number of different piece of products that are coming together into one third.
So we are one company this company's collateral and collateral is made by a number of different reasons and number of different piece of products that are coming together into one foot.
Speaker 3: So let me say, Engage is doing great and it's completely assimilated into Calera. And at the moment I'm in London because I had management meeting with the team here in London. And they tell you that it's very, very promising. And also the customer meeting are very much appreciating the fact that we are now one firm.
So let me say <unk> is doing great and it completely.
Related into Carolina.
And the.
At the moment I'm in love them, because they add Matt has been meeting with the team here in London and they tell you that it's been very promising and also the customer meeting very much appreciating. The fact that we are now one for them.
Yeah.
Thank you my last question is.
Speaker 7: How do you think about growth in operating expenses in 2022 relative to revenue growth?
How do you think about growth in operating expenses.
In 2022 relative to revenue growth.
Hi.
Yes.
Yeah, Yeah exactly one please go ahead.
Yeah. So.
Speaker 4: For the year 2021, we have an adjusted ABA of about 7%.
For the for the year of 2021, we have an adjusted EBITDA of about 7%.
Speaker 4: of the revenue. We think we can improve this EVDA next year. So we think that we can have an operating leverage even if we are going to invest in people.
Of the revenue we have.
I think we can improve our.
EBITDA next year so we.
We are seeing.
We can ever on operating leverage it even and we are going to.
Invest in people, but.
Our.
Speaker 4: to improve our MBDA and our margin.
Forecast to improve our EBITDA margin.
Okay. Thank you.
Thank you Alan.
Thank you.
Speaker 2: The next question comes from Jeff Bernstein with Covid.
The next question comes from Jeff Bernstein with Goldman.
Please go ahead.
Speaker 3: Hey Dario and Giacomo, congratulations on a good quarter. A couple of questions for you. While you're in the UK, you know, IMI Mobile was bought by Cisco quite a while ago now and I guess it's been folded into WebEx.
Hi, Daria Giacomo congratulations on a good quarter a couple of questions for you.
While you're in the UK.
Mobile was bought by Cisco quite a while ago now and I guess, it's been folded into webex.
Speaker 5: What have you seen in terms of any change there? Are they still a contender as a trusted CPAS kind of player or have they become more generic? And any thoughts on your position as the trusted CPAS player versus others out there?
What have you seen in terms of any any change there.
<unk>.
Are they.
Still a contender as a as a trusted C pass kind of player or have they become more generic and.
Any thoughts on on your position as the trusted C pass.
Layer versus others out there.
Speaker 3: Well, Jeff, thank you for the question. I do not want to say anything about the competitor because this would be unfair as a meaning.
Well, Jeff. Thank you for the question.
I do not want to say anything about the competitive because this could be.
I'm fine with me anymore.
Speaker 3: IMO Mobile is a very well reputed company, but the strategy of IMO Mobile seems to be changing significantly with the integration system.
I am on mobile is a very was rapidly company.
But the strategy of IMI mobile it seems to be changing significantly with the integration and physical so we see basically two pieces of product the voice cloud contact center product, which is more let me say consistent with the all thinking about Cisco.
Speaker 4: So we see basically two pieces of product, the voice cloud content center product, which is more, let me say consistent with the offering of his Cisco, well integrated in the content center product strategy and the messaging part, which has been attached to the Webex.
Well integrated in the in the in the in the contact center product strategy and the messaging part which has been attach it to the webex.
Speaker 3: So it's more like UCAS rather than CIPAS. And frankly speaking, we do not consider IMI a challenger of the position of Kalerna and we never meet IMI mobile in any pitch or any customer. And the integration of IMI mobile into CIPAS.
So it's more like ucas, rather than seatbelt, and frankly speaking, we do not consider IMI challenger of the position of Kalina, and we'd never meet Ini mobile Leigh and Andy Pease for any customer and.
The integration of <unk> into Cisco.
Speaker 3: being a very good news for Cisco and IMI Mobile sellers, sellers may unlock opportunities for collection.
Being a very good news for Cisco in the Hi, Mike.
<unk> mobile.
Sellers.
May unlock opportunities for Colorado.
Okay.
Speaker 5: And in terms of anyone else out there that you see as a peer on the trusted element of CPAS, is there really anyone?
And in terms of any anyone else out there that you see as a peer.
Trusted element of <unk> is there is there really anyone.
Speaker 3: Frankly speaking, we think that our positioning based on the three pillars that I mentioned in the call is unique, distinctive and defendable in the long term. So at the moment we think we are pretty unique. Calera is the trusted seepers and I don't see any other trusted seepers.
Frankly speaking.
We think that our position in based on the three pillars that I mentioned in the call is unique distinctive and.
Sensible in the long term so at the moment, we think we are pretty unique.
Ah is the fastest cheapest and I don't see anything out of the plastic cheapest of violence.
Speaker 5: That's great. And then could you just touch, you had some fintech contracts in the Latin America region last year? Could you just talk a little bit about what's going on there?
That's great and then could you just touch you'll have some fintech contracts in the Latin America region last year could you just talk a little bit about what's going on there.
Speaker 3: Well, in the business, the new business development in Latin America has been significantly affected by the pandemic, because basically it's more difficult to entertain relationships with potential prospects and customers. So we're still working on it.
Well in the business and new business development in Latin America has been significantly.
Factored by the pandemic, because basically it's more difficult to entertain relationships with potential prospects and customers. So we're still working on it and.
Speaker 3: And we think Latin America as a whole is a very promising market for our services. And we look very much forward to be able to travel again. You know, this week to me is the first week traveling for business over...
And we think Latin America as a whole is the battery promising market for our services and we look very much forward to.
Be able to travel again.
This.
In the first week traveling for business over the last three years.
Speaker 3: I hope that we won't face further restrictions going forward and then looking very much forward to working with our leads in Latin America. Also because it's a large market, very innovative, with significant investments in innovation and in fintech. That's great.
I hope that we won't face, Florida restrictions going forward and then looking very much forward to working.
With our needs in Latin America also because the market. It's a large market very innovative with significant investment in innovation and in Fintech.
That's great. Thank you very much for answering the questions.
Thank you for your questions.
Thank you Ed.
Speaker 2: At this time, this concludes our question and answer session.
At this time this concludes our question and answer session.
Speaker 2: I would now like to turn the call back over to Mr. Calogero for his closing remarks.
I would now like to turn the call back over to Mr.
Carlo Daryl for his closing remarks.
Thank you.
Speaker 3: Thank you, operator, and thank you for joining us on today's call. As always, we would like to thank our extensive worldwide network of partners and investors and stakeholders, as well as our employees, for their continued support. Looking very much forward to the next early.
Thank you operator, and thank you for joining us on today's call as always we'd like to thank our extensive worldwide network of partners and investors and stakeholders as well as our employees for their continued support looking very much forward onto the next.
Nicole.
Thank you.
Speaker 2: Thank you. I would like to remind everyone that the recording of today's call will be available for replay via link available in the investor section of company's website.
I would like to remind everyone that a recording of today's call will be available for replay via link available in the.
Investors section of the company's website.
Speaker 2: Thank you for joining us today for Calera's fourth quarter 2021 earnings conference call.
Thank you for joining us today for <unk> fourth quarter 2021 earnings Conference call you may now disconnect.
Okay.