OneSoft Solutions Inc. Reports Third Quarter Fiscal 2023 Financial Results - Seite 3

Company operations through Q3 2023 have generally progressed in accordance with Management's expectations, including the addition of new customers and increasing interest in new functionality modules from existing customers. The Company organized a user group conference during Q3 2023, which took place during the first week of October at the Microsoft Executive Briefing Centre in Houston. This event was attended to maximum capacity by our customers, who collaboratively shared their input regarding current CIM functionality and future technology requirements. We are pleased to report that customers expressed complimentary views that our services and development personnel and CIM solution are highly valued, and that most customers intend to utilize new functionality modules that are under development or part of our technology roadmap.

BUSINESS OUTLOOK

Q3 Fiscal 2023 results continued to progress our achievement of the guidance disclosed by the Company in January 2023, and Management is optimistic that Q4 Fiscal 2023 will evolve as anticipated, with continued sales and revenue growth into Fiscal 2024 and the foreseeable future. We are encouraged that our customer base and pipeline miles under CIM use continues to increase and that some large pipeline operators, such as our latest customer addition, are viewing the adoption of CIM as a better alternative than pursuing in-house software development projects.

Sales efforts are currently underway with prospective customers in North America and certain international regions, which we expect will result in new customer adds. OneSoft is poised to achieve 47% revenue growth in Fiscal 2023 over Fiscal 2022, with near to break-even cash flow. With a strong and strengthening balance sheet, sufficient cash on hand, a strong base of hallmark customers who generate recurring revenues and promising ongoing sales activities we believe there will be no requirement to raise additional capital to execute current business and operational plans.

Q3 2023 EARNINGS WEBCAST / CONFERENCE CALL

OneSoft's CEO Dwayne Kushniruk, President & COO Brandon Taylor and CFO Paul Johnston will host a live webcast on Thursday, November 16, 2023 at 11:00am ET to review the results, provide Company updates, and answer investor questions following the presentation. Webcast / Conference call details are as follows:

DATE: Thursday, November 16, 2023
TIME: 11:00am ET (8:00am PT)
WEBCAST: Webcast Link

OPTIONAL PARTICIPANT TELEPHONE NUMBERS: