The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: I'd like to start with some of the top line dynamics. On your B2B growth for this quarter, 1.5% year-on-year, a little lower than the last couple of
quarters. Can we get your thoughts, I guess, on what are the drivers there? You mentioned MERX, BidNet in the MD&A. But maybe if you could give
us like additional color on InterTrade? And like how do we think about that? Is that like normal course of business in terms of volatility? Or is there
anything specific?
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: Then, I guess, like any thoughts on InterTrade like being flat, I think, both sequentially and maybe like year-on-year? Is that like the normal course
of business? Or is there like anything to read into that?
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: Okay. That's very helpful. Then, I guess, if we're thinking like longer-term profile of top line, in your 5-year plan, you speak to 11%, 12% and 15%,
like industry growth in the respective verticals in which you operate. Is that what you guys are aiming on an organic basis as well? And do you think
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: And just to be clear, that's organic?
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: Okay. That's great. Just switching gears on the margin profile. You provided some sort of guidance to -- 8% to 12% short term as you undergo this
transition, and we're currently sitting at 9% for this quarter on an adjusted basis. So close to the bottom of that range, is it fair to assume, I guess,
that this is a trough that will probably plateau for like 12 to 18 months, as you mentioned? And a lot of your future expenses will be layered in, in
tandem with sales growth, given that you're already close to the bottom of that range?
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: Understood. Then, I guess, like in your PR as well, you speak to something like AI initiatives and data-monetization initiatives. Can you guys share
with us what you guys are working on?
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: Okay. Understood. So all the data is already in hand, right? That's...
Question: Amr Ezzat - Echelon Wealth Partners Inc., Research Division - Analyst
: Care to comment how much you could increase the ARPU? Or...
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