Welcome to Tucows' Fourth Quarter 2021 Management Commentary. We have prerecorded prepared remarks regarding the quarter and outlook for the company. A Tucows-generated transcript of these remarks with relevant links is also available on the company's website. We urge those listening to, or reading this commentary, to first watch the video we posted in the investors section of our website, on the videos, decks and reports page. The video discusses our transition from reporting business segments to reporting separate businesses, which begins in the first quarter of 2022. It also provides high level context on how to best follow our results. In lieu of a live question-and-answer period following these remarks, shareholders, analysts and prospective investors are invited to submit their questions to Tucows’ management via email at ir@tucows.com, until February 18th. Management will address your questions directly, or in a recorded audio response and transcript that will be posted to the Tucows website on March 3rd at approximately 4 P.M. Eastern Time. We would also like to advise that the updated Tucows' Quarterly KPI Summary, which provides key metrics for all of our businesses for the last eight quarters, as well as for full years 2019, 2020, and 2021, is available in the Investors section of the website, along with the updated Ting Build Scorecard and Investor Presentation. Now for management’s prepared remarks. On Thursday, February 10th, Tucows issued a news release reporting its financial results for the fourth quarter and full year ended December 31st, 2021. That news release, and the company’s financial statements, are available on the company's website at tucows.com, under the Investors section. Please note that the following discussion may include forward-looking statements, which, as such, are subject to risks and uncertainties that could cause actual results to differ materially. These risk factors are described in detail in the company's documents filed with the SEC, specifically the most recent reports on the Forms 10-K and 10-Q. The company urges you to read its security filings for a full description of the risk factors applicable for its business. I would now like to turn the call over to Tucows’ President and Chief Executive Officer, Elliot Noss. Go ahead Elliot.

Thanks Monica. The fourth quarter closed a solid financial performance across Tucows’ businesses in 2021, but the work in each business setting up for the future was even more important. Tucows Domain Services delivered another consistent financial performance, resulting in a record year. Wavelo, our Mobile Services Enabler business, continues to perform as expected, with our first quarter of comparable year-over-year results showing its growing contribution, while completing its pivot to a new business. Importantly, with the naming of this business to Wavelo, I will never have to say, Mobile Services Enabler, or telecom SaaS platform, again. And in our Ting Internet business, we continued to make fantastic progress in the accelerated build out of our network and our customer base, with another record quarter and year, for capital expenditures and other relevant operating metrics. I remind you all, that as we go from 2021 into 2022, we are moving from reporting business segments to reporting separate businesses. I urge you to watch the video we posted earlier today for a high level view of how to best follow our results. Please note that the comparisons I speak of below are based on the previous reporting approach, and when I am talking about forward-looking guidance, the comparisons will be based on the new reporting approach. Turning to our financial results, total revenue for the fourth quarter increased 17% to $82.5 million, from $70.8 million, for Q4 2020. Growth was driven by the expansion of our Ting Fiber customer base, as well as the Mobile Services business. Gross profit was up 41% year-over-year to $24.6 million, from $17.4 million. For the 2021-year, total revenue was $304 million, down 2% from $311 million in 2020 and gross profit was $78.3 million, down 8% from $85.5 million. As a reminder, the full year…

Thanks Elliot. As Elliot noted earlier, the fourth quarter of 2021 was the first with directly comparable results for our Mobile Business following the sale of the majority of our Ting Mobile customers to DISH and the change in our Mobile model from our previous MVNO model to the Mobile Services Enabler, or MSE, model in August of 2020. However, when comparing the full year results, 2020 reflects approximately seven months of revenue and gross margin generated by the customer base sold to DISH, and five months of fees generated under the new MSE model. As a result, adjusted EBITDA may provide a better view on the operating performance of the overall Tucows business for the full year 2021 versus 2020. Turning now to the results. Total revenue for the fourth quarter of 2021 increased 17% to $82.5 million from $70.8 million for the fourth quarter of 2020. The year-over-year change was driven by both growth in Ting Fiber Internet Services revenue and higher revenue from Mobile Services. Fiber Internet Services revenue was up 70% year-over-year as that subscriber base continued to expand. Total Mobile Services revenue was up 217%, with the majority of that increase being driven by Platform Services, as well as, to a lesser degree, by Other Professional Services, which includes transition services and professional services arrangements related to our Platform. As noted on prior calls and mentioned by Elliot earlier, Mobile Services revenue and gross margin will be lumpy for a period of time due to the variability of Other Professional Services revenue as the base Platform Services revenue is ramping. This was especially apparent in Q4, due mainly to a single project related to DISH’s Boost retail initiative. Revenue from our legacy Retail Mobile Services was also up year-over-year. And finally, revenue from Tucows Domain…

Thanks Dave. As noted earlier, we ended the year with $48.8 million in adjusted EBITDA, $6.2 million, or 15%, above our guidance of nearly $43 million. Tucows Domains was $2.2 million above expectations. Inside of that, we had a significant outperformance in our expiry stream and we added on the expense side with our UNR acquisition. Mobile was roughly $3.4 million ahead of expectations, but a lot of this was more in the nature of one-time professional service fees and, as you know, we are more focused on the subscription revenue that will come post-migration. Most importantly, we have to be thrilled with the pivot of this business. We were stuck at a contribution in the $20 million range or sometimes high teens, and we have turned that into a unit that contributed 30% more than that this year and has loads of upside into the future with a business that will be selling provisions to those participating in the telecom transformation of the coming years. Both Ting Internet and head office were right around their numbers combining to lose $600,000 less than planned. All in, a very successful year. Turning to 2022, I will provide guidance for the three business units and for the parent, TCX. I note that when we provide Q1 results, we will start to provide year-over-year comparisons using the new structure. Please watch the video we referred to at the introduction to these remarks explaining the changes. I will not be referencing them here. Domains next year should generate adjusted EBITDA of around $45 million. This will be a couple million below 2021, with a little bit of underlying growth being slightly more than offset by the impacts from a strengthening Canadian dollar in 2022 and some non-cash deferrals flowing out of the pandemic spike…