The following is a summary of the Dye & Durham (DYNDF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Dye & Durham reported Q3 fiscal 2024 revenue of CAD107 million, marking a 16% increase YoY.

• Annual Recurring Revenue (ARR) was CAD126 million, indicating an 85% YoY growth.

• The company reported adjusted EBITDA of CAD60 million in Q3 2024, increasing 11% YoY.

• A 26% YoY increase in cash from operations was reported alongside a 36% rise in adjusted EPS.

• The company refinanced transactions worth CAD1.2 billion to decrease annual cash interest expenditure by around CAD20 million.

• Q3 cash flow from operations was up 24% YoY.

• Net finance costs decreased to CAD30.1 million in Q3 2024, compared to CAD40.3 million the previous year.

Business Progress:

• Evolution into a leading global player in legal technology software focusing on small and medium-sized law firms, transitioning to a modern SaaS-based, platform-based solution.

• Diversification of the revenue base has increased annual recurring revenue and decreased reliance on real estate transactions.

• Target of achieving 50% of revenue from ARR in just over 24 months.

• Completed CAD185 million substantial issuer bid to retire 2026 convertible debentures.

• The business improvement plan has generated more than the targeted CAD70 million in annualized free cash flow improvements.

• The company is on a positive trajectory to reduce costs, with most of the remaining synergies expected to be executed by the end of 2024.

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