Earnings call transcript: Plurilock Security sees growth in Q1 2025 with strategic expansion

Published 02/05/2025, 16:46
 Earnings call transcript: Plurilock Security sees growth in Q1 2025 with strategic expansion

Plurilock Security Inc. reported a robust performance in Q1 2025, with significant growth in gross sales bookings and gross profit, despite flat recognized revenue year-over-year. The company’s stock saw a notable increase of 8%, reflecting investor confidence in its strategic direction and operational achievements. According to InvestingPro data, the company’s market capitalization stands at $38.56 million, with impressive revenue growth of 89.92% over the last twelve months. Current analysis suggests the stock is trading near its Fair Value.

Key Takeaways

  • Gross sales bookings increased by 15% to $81 million.
  • Gross profit surged by 50% to $7.8 million.
  • The company launched a new business segment, Critical Services, which grew 152%.
  • Plurilock is exploring a NASDAQ listing to address valuation gaps.

Company Performance

Plurilock Security Inc. demonstrated strong performance in Q1 2025, with gross sales bookings rising 15% from the previous year to reach $81 million. The company’s gross profit saw a substantial increase of 50%, amounting to $7.8 million, driven by improved gross margins, which rose from 8.5% to 13.1%. Despite these gains, recognized revenue remained flat year-over-year at $59 million. InvestingPro analysis reveals the company maintains a healthy current ratio of 5.04, though it faces challenges with cash burn rates. Get access to 12+ additional ProTips and comprehensive financial metrics with InvestingPro.

Financial Highlights

  • Gross sales bookings: $81 million (up 15% YoY)
  • Recognized revenue: $59 million (flat YoY)
  • Gross margins: 13.1% (up from 8.5%)
  • Gross profit: $7.8 million (up 50%)
  • Cash balance: $1.4 million, with an additional $5.5 million raised

Outlook & Guidance

Plurilock is focusing on executing its 2024 strategy, which includes expanding its presence in the U.S. commercial market and deepening relationships with public sector clients. The company is also pursuing higher-margin opportunities and considering a NASDAQ listing to enhance its market valuation. Future guidance projects an EPS of 17.69 USD for FY2025 and 27.45 USD for FY2026, with revenue forecasts of 0.35 USD and 0.36 USD, respectively. With a beta of 1.96, investors should note the stock’s higher volatility compared to the market. Dive deeper into Plurilock’s potential with InvestingPro’s exclusive Research Report, part of our coverage of 1,400+ US equities.

Executive Commentary

CEO Ian Patterson highlighted the increasing complexity of the cybersecurity landscape, stating, "In 2024, the threat environment grew much more complex and dangerous." He emphasized Plurilock’s commitment to solving complex cybersecurity problems, adding, "We’re not chasing hype. We’re solving complex cybersecurity problems every day for organizations that can’t afford to get it wrong."

Risks and Challenges

  • Cybersecurity threats: The evolving nature of cyber threats poses ongoing challenges.
  • Market expansion: Entering new markets, such as NATO jurisdictions, may present regulatory hurdles.
  • U.S. policy risks: Potential changes in U.S. policies could impact operations.
  • Valuation and listing: The success of a potential NASDAQ listing remains uncertain.

Plurilock Security’s strategic initiatives and strong financial performance in Q1 2025 position the company well for future growth, although it faces challenges in an increasingly complex cybersecurity landscape. For comprehensive analysis and real-time updates on Plurilock’s financial health, valuation metrics, and growth prospects, explore InvestingPro’s advanced analytics platform, featuring expert insights and detailed financial metrics that help you make informed investment decisions.

Full transcript - Plurilock Security Inc (PLUR) Q4 2024:

Sean Peasegood, Investor Relations, Soffit Capital: Good morning, and thank you for joining us for Pluralloc Securities conference call to discuss its financial results for the year ending 12/31/2024. I’m Sean Peasegood from Soffit Capital, Plurlock’s Investor Relations firm. On the call today, we have Plurlock’s CEO, Ian Patterson and CFO, Scott Myers. During the call, all participants are in a listen only mode. Following the presentation, we will conduct a question and answer session.

We encourage you to submit your questions through the Q and A tab at any time, and management will answer them following the prepared remarks. Before management discusses the results, I’d like to remind everyone that certain statements in this call may be forward looking in nature. These include statements involving known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in our forward looking statements. For caveats about forward looking statements and risk factors, please see Plurilox MD and A for the year ended 12/31/2024, which can be found on our company profile at SEDAR plus Unless otherwise stated, all dollar amounts referred to in this call are in Canadian dollars, the company’s reporting currency. I’ll now pass the call over to Plurlock’s CEO, Ian Patterson.

Ian?

Ian Patterson, CEO, Plurlock: Thank you, Sean, and thank you all for joining us today. Good morning, and welcome to Pluralloc’s financial results conference call for fiscal year end twenty twenty four. My name is Ian L. Patterson, CEO of Pluralloc. As we review the results, I’ll provide some highlights along with a business update.

Then I’ll turn the call over to Scott Myers, our CFO, to walk through recent financial performance. We’ll wrap up the prepared remarks discussing our outlook, and we will leave some time at the end for Q and A. Before we start discussing our financial results, I actually want to take a moment to reflect on the broader cybersecurity landscape. In 2024, the threat environment grew much more complex and dangerous. We saw state sponsored attacks, AI driven threats, supply chain vulnerabilities become more frequent, more sophisticated, and this puts, unprecedented pressure on both governments, enterprises, and organizations of all size to act decisively.

This has really shifted the cybersecurity industry from a back office IT function to a board level and national security priority. Within that global context, Plurilock continues to execute with discipline. We’ve built our business around real world security needs, ones that are becoming more urgent, more complex and more strategic with each passing quarter. And in 2024, we demonstrated that Pleurlock is a trusted partner to governments and commercial clients across North America and NATO countries who are navigating this increasingly high stakes environment. And I’ll ask Sean, if indulge me, to go to the business overview, and we’ll talk about the three interconnected business segments.

So Plurlock has three business segments today. We have our Solutions Division, which is the core unit which provides technology and cybersecurity products through an extensive network of partners and customers. It also serves as a key entry point for both our critical services and SaaS offerings. Critical services, which is something we’ll be talking about quite a bit on this call, is a specialized team that delivers tailored cybersecurity services to help clients address urgent security challenges and build long term resilience and PlerLock AI, our proprietary software as a service platform focused on advanced security and identity protection. While all segments are contributing to overall progress, Critical Services, which we formally launched in February of twenty twenty four, has become a strategic priority due to its significantly higher margin profile and its ability to create long lasting client relationships.

Acting as a trusted cybersecurity advisor, Plurlock brings deep domain expertise and regulatory compliance, security architecture, technology integration to support government agencies in Canada and The U. S. As well as large global enterprises. Our strategy is to build on existing customer engagements, transitioning them into recurring managed services. By introducing adjacent high value offerings through our reseller network, we help clients solve more of their cybersecurity challenges, deepening relationships, increasing retention and enhancing profitability.

So now I’d like to walk through a few highlights from the year. And so Sean would encourage you to maybe go through and show our business update slide. So to start with, the gross sales bookings of $81,000,000 for the year ended 2024. This is an increase of 15% from our previously reported $70,000,000 of revenue, in 2023. Gross sales bookings are unaudited numbers but are a reflection of what is our revenue what our revenue would have been, rather, had we continued to report with the same accounting practices that we had had in the past.

Now with that implementation of our new accounting practice, which focuses on recognizing revenue from software and services over time rather than upfront, recognized revenue for 2024 was $59,000,000 which was essentially flat over the new adjusted 2023 revenue. Now this shift aligns more accurately with the long term nature of our contracts and strengthens our ability to build predictable recurring revenue model. So as a result, we introduced backlog as a key metric to better reflect the scope and duration of our contracted business. And because we did not previously report contracted backlog on a consistent basis, comparing this quarter’s results to past periods is inherently challenging and may not present a clear picture of the company’s trajectory. We now have a contracted multiyear backlog, which as of 12/31/2024, was $56,000,000 This is a new metric that investors can track and use to model out future revenues.

The introduction of backlog highlights the strength of our current business pipeline and provides a more meaningful indicator of Pleriloc’s future revenue and margin potential. And the backlog is comprised of both critical services as well as software revenue, which we expect to be recognized over approximately three years. Our Critical Services business grew 152% year over year to $8,700,000 and we’ve added multiple new professionals to support that demand. And so again, this Critical Services segment has been a primary focus of the business, and we also expect to continue to focus heavily on this segment moving forward. The other thing to mention is that Plurlock switch from hardware centric technology sales to more software and services aligns with our core thesis of buying access to customers and leveraging that platform to drive higher margin products and services.

And really, these efforts have been designed to support longer term margin improvement by diversifying revenue streams and deepening reoccurring service relationships. Gross margins increased to 13.1%, up from point 5% as we continue to push our unique brand of higher margin critical services as well as software, which led to gross profit increasing 50% to $7,800,000 even with the new reported revenue recognition practices, which again were flat roughly year over year. Now it is worth reminding folks that despite being a Canadian headquartered business, well over 90% specifically 92% of our revenue comes from The United States, which really positions us firmly in the world’s most resilient and security focused market. These achievements are not just financial, they’re also strategic. As threats evolve, customers need partners who can not only sell cybersecurity products and technology, but also architect and implement and operate those technologies in complex and real time security solutions.

And that’s where Ploorlock differentiates itself. We’ve deepened our role with customers by becoming a hands on HITRUST partner, and that also includes our strategic partnerships with leaders like CrowdStrike and Forcepoint, which are a very large part of that. These relationships help us expand market reach, solution depth, while also continuing to enhance our credibility. Leveraging our trusted position within the Canadian and U. S.

Public sector space with government agencies, we are now expanding further into the commercial sector. Our success in high stakes environments like defense and energy and infrastructure builds confidence in our ability to serve large commercial enterprises with equally critical needs. Now it’s worth noting, Plurlock historically has experienced a stronger half, which we certainly saw last year with Q4 and Q Q3 and Q4 consistently driving a larger share of our full year performance. Despite macro uncertainty and volatility, we continue to demonstrate operational resilience, consistency and strategic clarity. And we’re executing on the focused playbook, delivering hands on cybersecurity solutions, building long term customer relationships and selectively expanding into commercial verticals where our credibility, and expertise translates into real world, real world opportunity.

Now in 2024, we made a deliberate investment in strengthening our sales organization along with our growing pipeline and evolving service offerings. And as I said, we’ve added multiple new professionals to our critical services and sales team. PlayerLock’s partner ecosystem also plays a critical role both in market access and service delivery. The company has seen steady engagement and continues to fulfill a wide range of customer requirements across both government as well as enterprise channels, which is contributing to active business development and customer acquisition efforts. And then as we continue to scale, we’re committed to ensuring our sales function remains agile, aligned with our higher margin offerings, and supported by the right tools and incentives to drive long term recurring repeatable customer value.

And so really, it’s the combination of these expanded capabilities that evening client relationships and reoccurring revenue momentum, which is beginning to generate flywheel effects. And that’s something that we expect will accelerate as we execute against our 2025 strategy. At this point, I’d like to turn over to our CFO, Scott Myers, who will walk through some of our 2024 financial results. Scott?

Sean Peasegood, Investor Relations, Soffit Capital: Thank you, Ian.

Scott Myers, CFO, Plurlock: So what I’d like to walk through is just our revenue margin performance, and then we’ll take a look at the balance sheet. So while revenue was flat at 59,100,000.0, gross margin increased 2,800,000.0 to 7,800,000.0. So this was mainly driven by our expansion in critical services. So if you look at critical services, we grew it to 8,700,000.0 this year from 3,400,000.0, so more than doubling. This expanded our margin by $2,000,000 alone, on its own.

So overall, our margin rate went from eight and a half percent of sales last year to 13.1. And this, near five point improvement, again, was driven off of mainly critical services, but we’ve also made some improvements in our resell business as well. Overall, that drove our adjusted EBITDA to improve by $2,900,000. If we take a look to the balance sheet, our working capital. So we’ve driven some of these improvements, it translated into our working capital improving by $2,200,000.

Also, this year, if you recall, if you’ve seen you’ve been following what we’ve been doing, we converted $1,200,000 of our convertible debt. So our total balance sheet improvement was 3,400,000.0 this year versus last year. And with that, I will turn it back over to Ian to look at what’s going coming ahead.

Ian Patterson, CEO, Plurlock: Yeah. Thanks, Scott. So, you know, I think I think largely, we’re we’re gonna continue executing on the strategy that we set out in 2024. We we see flywheels spinning and we want to continue that. I do want to emphasize that Plurlock entered 2024 with strong momentum, a clear strategy and commitment to delivering value both to our customers and to our shareholders.

I think that our foundation is strong. We’re trusted by some of the most security conscious organizations across North America. We’re getting pulled into other organizations outside of North America. Our critical services business is scaling. Our pipeline reflects growing demand for real world solutions.

And we’re not chasing hype. We’re solving complex cybersecurity problems every day for our organizations that can’t afford to get it wrong. So we see 2025 as a year of continued execution. We’re expanding our presence in The U. S.

Commercial market. We’re deepening relationships with public sector clients. We’re pursuing higher margin opportunities that will improve operating leverage. And we’ll continue to invest where it makes sense, people, partnerships, performance, while maintaining the disciplined focus that we brought so far. I will say as part of Plurlock’s strategic roadmap, we’re also actively expanding our footprint into NATO and NATO allied jurisdictions by leveraging really our long standing relationships with the public sector institutions in The United States and Canada.

And in a world where the threat landscape changes day by day, resilience isn’t just a goal, it’s a requirement. And at Plurlock, we’re ready. So thank you for your continued support. We look forward to delivering another year of progress, purpose and performance. And so with that, I might ask Sean if you could help direct us through any Q and A that we might have and we can get into some questions.

Sean Peasegood, Investor Relations, Soffit Capital: Yeah. Thank thank you, Ian and Scott, and thank you for everyone who’s joined the call today and and for, submitting your questions. So, as a reminder, for others on the call who haven’t submitted a question, you can click the q and a tab at the bottom of the webinar, and, we’ll get to them as they come in. So the first question, critical services ramping in the margins, are good. How should we model blended gross margins over the long term?

Scott Myers, CFO, Plurlock: Take that. So as our percentage of revenue becomes more weighted towards PLCS, we expect it to well exceed our traditional VAR offerings. So if you were looking to model this out, I would I would take our services revenue, which is published in our financial results and, do do your own projections there. Again, we’re not giving forward guidance, but we are, if you could look at the performance and what we just showed today, you can see that the growth rate of services has been, quite astounding.

Sean Peasegood, Investor Relations, Soffit Capital: Next question. Do you anticipate hiring more sales and support staff? Would you be doing that now or later in the year?

Ian Patterson, CEO, Plurlock: Yeah. So for us, we we did make an investment this past spring. So early earlier this year, we we we set out on a on a specific strategy. We wanted to continue the flywheels spinning and accelerate those flywheels that we had last year coming into this year. So we did make an investment earlier this spring, specifically targeted that.

We are I mean, the short answer is we are constantly hiring. You never really stop hiring. I think for us, what that looks like is as we find new talent, we’ll look to add those to the team. And I think the thing also that we’re finding is that the salespeople that we’ve added so far have shown materially positive results. So short answer is we’re always hiring.

I think largely, though, this will be kind of a more of a steady state where we add as additional sales performance makes it make sense.

Sean Peasegood, Investor Relations, Soffit Capital: Great. Great. Another financial question. At what revenue level would you be EBITDA positive?

Scott Myers, CFO, Plurlock: Thanks, Sean. So, again, we don’t give, forward guidance. But if you I would say if you’re modeling this out, I would look at, you know, what we’ve done and what we’ve accomplished over the past year, and and you can see that, you know, we’re we’ve been making a lot of strides towards that and look at our sales growth. I would say, also consider how we’ve repositioned this business to be much more focused on services. We’re also seeing that, basically, for every dollar of resell, there’s almost $2 of services out there for us to go capture.

Ian Patterson, CEO, Plurlock: I think also, just to add to that response. So so the question is around what revenue level. I think actually the key metric that we’re looking at is gross profit because really the focus for the business for the last twenty four months has been very focused around driving gross profit. And I’ll give you a practical example. If we have a salesperson and they have two potential sales opportunities, dollars 1,000,000 of technology resale at potentially 1% gross margin and $500,000 of critical services at potentially 40% gross margin, well, the latter example will drive significantly more operating leverage and gross profit to the company, but it will come at a lower revenue rate.

And so for us, the key really is driving gross profit. I think also that comes a quality of revenue improvement as well. So typically, when we’re doing technology resell, it’s a single transaction. Whereas with Critical Services, not only do we get that initial sale, but we also get opportunities to sell additional products and services thereafter. So again, the way that we operate internally is really focused around gross profit, even to the point where our salespeople are compensated on gross profit.

It’s not a revenue compensation plan. And so that’s that’s really the way to to look at this business.

Sean Peasegood, Investor Relations, Soffit Capital: Okay. Great. Okay. I’ve got I’m gonna merge two together that are also financial, and then I have another one. So what this person’s asking what the cash balance is now, and it is probably tied together.

And then another person’s asking, you know, if you’re raising capital. So maybe address the balance sheet.

Scott Myers, CFO, Plurlock: Yeah. So you’ll see that at year end, we’ve we’ve had left the year with 1,400,000.0. Keep in mind then we’ve also done a raise of, of around 5 and a half million, so we are not raising capital.

Sean Peasegood, Investor Relations, Soffit Capital: Pretty great. What risks do you anticipate with respect to the change in US policy to protect US businesses, if any?

Ian Patterson, CEO, Plurlock: Yeah. It’s a good question. I mean, I think I think tariffs also play play into this question. I mean, so from our perspective, the Plurlock corporate structure, we’re Canadian headquartered, but we do have a U. S.

Operating subsidiary. And so if you’re following press releases, we’ll often talk about Aurora, which is one of our U. S. Operating subsidiaries. Aurora is a U.

S. Company. It employs U. S. People.

It sells U. S. Products. It sells U. S.

Services to U. S. Customers. So there’s very little cross border activity that takes place within that business. I would say that the broader trend though of supply chains being deglobalized has been has been occurring for many years.

So if we zoom out from this specific question, I mean, we saw in the last five years a huge shift away from from purchasing brands like Huawei and ZTE from China or Kaspersky from Russia. So there’s been this push for ongoing well before the current U. S. Administration. There’s been a push to kind of focus technology supply chains, including cybersecurity supply chains, to be more aligned with friendly companies or excuse me, friendly countries.

And so that’s always been the case. Now I think what we have done really from day one is that we’ve made a very intentional decision that we were going to align ourselves with the Five I countries, so that’s The United States, Canada, Australia, New Zealand and The United Kingdom, as well as NATO allied countries. And so that’s largely Europe kind of with a focus around Western Europe. Because we saw this trend very early on, and so we wanted to ensure that we as a company will ultimately align ourselves with the West. So we’ve tried to build our organization with that trend in mind, and you can see that show up in a number of places.

You can see that in our corporate structure. You can also see that in our talent. If you look at our Advisory Council, for instance, you’ll see Canadians, you’ll see Americans, you’ll see some British folks. And so you can see that kind of across the business. So that so that’s that’s the long answer and kind of the background for, for how we’re set up and restructured.

Obviously, you know, we monitor the stuff pretty closely. But but right now, we believe that we’re we’re well positioned for, for being successful.

Sean Peasegood, Investor Relations, Soffit Capital: Okay. That’s great. Okay. I’m gonna put another couple together here. Please explain your motivation to pursue interest in the, US accounting convention, PCAOB.

And then the second follow-up to that, and I think it’s probably linked, is, when do you roughly anticipate Pluriloc being listed on the Nasdaq?

Scott Myers, CFO, Plurlock: Alright. I’ll take I’ll take that one. So I think two things. One is just to clarify, PCAOB is an is an auditing standard, not necessarily, like, an accounting standard. So The US and Canada have different standards.

We’re not gonna comment on which one they’re they’re just they’re different. And you need to have a PCAOB audited standard in order to list on the Nasdaq. So this is all part of the process for us to do some sort of potential US uplift. In terms of timing, it’s not necessarily upon us to say when when we’ll do this. There’s definitely a series of steps.

One one is deciding how you’re going to do it. So there’s multiple avenues you can take. You can do a straight IPO. There’s also, you know, potentially to find a a Nasdaq shell, and a few other options as well where we’ve been evaluating where where our best option is, especially for our shareholders. And then, there’s a there’s a process.

So we need to do part of this is the PCAOB. There’s a few other steps that take a bit of time, and we have to get through, of course, SEC approval down there. Now part of the reason we’re doing this is if you look at our valuation on the Canadian markets, we we believe that, US listing would would get us a higher valuation and get us more we’re we’re basically undervalued here in Canada. And if you’ve kind of been following this space, there’s a good business model for PE firms to also take out a company and then later list it in The US and make make multiples on that. So, again, there there’s a, I think, a value gap between Canada and The US, and that’s why we’re focusing and putting attention here.

Ian Patterson, CEO, Plurlock: And I think just to build on that answer, so process was really started last year. I mean, we put out a press release announcing that we were reviewing U. S. Strategic options. We’ve engaged a banker.

And I think what you’re seeing is that we are taking steps to be ready to try and realize some of that value discrepancy that Scott was talking about. And so there’s a lot of work that happens behind the scenes to be able to realize some of that value. And I think the intent was really to educate shareholders on what we are doing to be able to go after that and try and ultimately, realize, increased shareholder value.

Sean Peasegood, Investor Relations, Soffit Capital: Okay. Great. Just as a reminder, we have one more question here so far. But just as a reminder, if you have any additional questions, put them in the q and a tab, at the bottom, and we’ll get to them. So one more here.

Can you provide an example of a a normal customer journey? You’ve said you are increasing software and services as a percentage of sales. How are you shifting them from hardware to software?

Ian Patterson, CEO, Plurlock: Yeah. That’s a great question. So there’s actually two selling motions, and so I’ll describe both. But we two main selling motions, within our business. So the first is that we have well over 400 customer accounts that we sell to.

And that’s really coming from the solutions segment of the business where we sell technology resell to those customers. And so when we do that, when there’s a transaction, there’s usually an opportunity to have a conversation with that customer and say, Hey, you’ve just purchased some firewalls. Do you need help to deploy it, to configure it, to operate it, to manage it? And so that becomes an opportunity for our critical services team to come in and start to introduce the customer to what we’re able to do. So that’s one way.

And that was really kind of the focus in 2023 and 2024. We talked a lot about cross selling during those years. And so really, was around introducing our current clients, captive audience to our critical services offering. Now I will say that of those 400 plus customers that we have, only a fraction today critical services customers. And that’s so even the revenue growth that we have seen so far in the critical services segment, there’s still a very large untapped market within our current customer base.

And we are going after those customers with the increase in sales folks. And so again, I talked earlier about a flywheel. That’s a flywheel it’s running. So that’s really the first go to market motion. The second go to market motion, and this is a little bit newer, but is a reflection of the critical services work that we’ve been doing late last year and then coming into this year is that we’re starting to get notoriety.

We’re starting to get name recognition and we’re actually starting to get pull through from some of our partners. And so that so the way that that looks is that we will be introduced in some way to a potential new customer that we’ve not done any business with in the past. What we’re seeing is that we will start working with them typically on a smaller engagement. It could be a pen test through our offensive security practice. It could be some sort of security assessment.

And so from a dollar figure perspective, that might be a $50,000 project of some Now what we do is when we get into that customer account, we’re really learning about that customer’s environment. We understand what they’re doing. We understand where the gaps are. We understand where the shortfalls are. And then from there, we’re seeing good success and then upselling to potentially a $200,000 recurring Red Team engagement, where we have now an existing relationship and an ongoing relationship with that customer.

From there, then the customer gets a chance to see how we work. We have great results and we have great testimonials from customers saying that they’re happy and then additional doors open. And so perhaps the customer comes to us and asks, Could you provide some help around our Zero Trust strategy or similar. And so the door is open and then we start to see a flywheel of additional customer engagements. And then at that point, we have a great relationship with that customer.

We’re providing value. They’re coming they’re turning to us with their problems, and we can rinse and repeat. This that example that I just gave was one that actually happened with a multibillion dollar U. S. Publicly traded firm, and it worked exactly like that.

I mean, it started with approximately a $50,000 engagement. It led to a low six figure kind of ongoing relationship. And I spoke to the CIO a couple of weeks ago, they said we need help with Zero Trust and we also need help with how do we effectively deploy AI inside our security organization. So that’s the second sales motion. And again, that’s newer this year relative to years past, but that’s the typical way we see we see these things building.

Sean Peasegood, Investor Relations, Soffit Capital: Excellent. Okay. I don’t see any other questions in the queue, So I think we’re gonna leave it at that. If, if you weren’t able to ask your question or you have other questions after the call, please reach out to one of us. We’ll be happy to answer them.

Our contact information is available on the screen here or underneath any of the press releases that we put out. I’ll now pass the call back to management for closing remarks.

Ian Patterson, CEO, Plurlock: Yeah. I just want to say thank you both both for everybody attending today and listening and following Plurlock’s story. We look forward to continuing to share our progress, with you in in the quarters ahead.

Sean Peasegood, Investor Relations, Soffit Capital: All right. This concludes Plurlock’s fiscal twenty twenty four conference call. We thank you for joining us. Have a good day.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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