The following is a summary of the Quisitive Technology Solutions Inc. (QUISF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Quisitive reported a total revenue of $28.4 million from global Cloud solutions, marking a decrease of 12% from the previous year.

• Gross margin for Q4 2023 was $12.1 million, a 5% decrease from the previous year, however, the gross margin as a percentage of revenue increased from 39% to 42%.

• Recurring revenue increased to 38% in 2023 from 31% in 2022, mainly due to expanding services activities and increased licensing revenue.

• Pro forma adjusted EBITDA was $16.4 million or 14% of revenue for the fiscal year 2023.

Business Progress:

• Quisitive has strategically refocused as a premier cloud and AI solution provider and divested of its Payment Segment, including PayiQ and BankCard.

• To facilitate growth, significant investments have been made in cloud infrastructure and an AI-focused sales team has been established.

• These initiatives, coupled with collaborations on go-to-market strategies with Microsoft, are anticipated to enhance Quisitive's offerings in cloud services and solutions for data, infrastructure, security, alongside modern work and business applications.

• A significant growth in AI adoption is expected, with further investments in AI-related resources planned to meet rising demand.

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