Verimatrix S.A. (0QAU) Q4 2023 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.925 -- 00:00:05.608 I think we can go. Thank you everyone 00:00:06.992 -- 00:00:09.014 for participating 00:00:09.014 -- 00:00:12.258 in the announcement of the 2023 results 00:00:12.258 -- 00:00:14.779 of Verimatrix. 00:00:15.322 -- 00:00:17.364 There will be my presentation 00:00:17.364 -- 00:00:19.584 at the beginning 00:00:19.727 -- 00:00:23.271 and Jean-François Labadie, our CFO. 00:00:23.271 -- 00:00:28.236 We will talk either about the results of the fourth quarter of 2023, which is the result 00:00:28.236 -- 00:00:34.246 of the year of the full year 2023. 00:00:35.291 -- 00:00:39.757 Before I start the presentation, 00:00:39.757 -- 00:00:41.797 I wanted 00:00:42.901 -- 00:00:47.128 to tell you that for the people who followed 00:00:47.128 -- 00:00:52.355 our story a little bit, in 2021 was the year in which 00:00:52.355 -- 00:00:57.362 we decided to change the business model, to move from a 00:00:57.362 -- 00:01:02.407 business model It was a business model that for the clients, our 00:01:02.407 -- 00:01:07.414 clients, it was capex and we had trimesters 00:01:07.414 -- 00:01:12.741 not balanced, all focused on the end of the year because it was capex 00:01:12.741 -- 00:01:16.964 for the clients, especially the telecom clients. 00:01:17.167 -- 00:01:18.829 We decided 00:01:18.829 -- 00:01:24.176 over a year of COVID and a little difficult to pass a SaaS model and 00:01:24.176 -- 00:01:27.077 a subscription model. 00:01:27.815 -- 00:01:30.900 this transformation, which is a transformation 00:01:30.900 -- 00:01:34.706 in depth for a company, because 00:01:34.706 -- 00:01:40.435 we were forced to redevelop a part of the products or adapt the products 00:01:40.435 -- 00:01:42.419 to a cloud 00:01:42.419 -- 00:01:44.762 world, and 00:01:44.762 -- 0...