Delisting of the NexJ shares from the Toronto Stock Exchange is expected to occur shortly, and NexJ will apply to all applicable Canadian securities regulatory authorities to cease to be a reporting issuer.

INFOR Financial Inc provided a fairness opinion to the independent committee of the board of directors of NexJ. Blake, Cassels & Graydon LLP acted as counsel to NexJ. Cassels Brock & Blackwell LLP acted as counsel to Harris.

NexJ is focused on improving the advisor and relationship manager experience and optimizing our clients’ engagement with their customers. We are innovators who build and implement software that aggregates data from front, middle, and back-office and presents it in an intuitive, user-friendly, configurable user experience, enabling the advisor/relationship manager to deliver real-time information to manage their client engagement more efficiently.

About NexJ Systems Inc.
NexJ Systems provides Intelligent Customer Management products for the financial services industry. Our award-winning products are designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, its customers benefit from its deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

About N. Harris Computer Corporation
Harris acquires vertical market software businesses, manages them using industry best practices, and builds them for the future. Through acquisitions, Harris has grown extensively from its roots in the utilities, local government, education, and healthcare sectors to operate over 180 businesses globally across more than twenty industries. Harris is an operating group of Constellation Software Inc. (TSX: CSU), one of North America’s most active acquirers of software businesses.

NexJ Forward-looking Statement
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ’s current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently, its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ’s securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com.  Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information: Matthew Bogart, Head of Sales and Marketing, NexJ Systems Inc., Tel. +1 416-227-3708, Email: Matthew.bogart@nexj.com

The post NexJ Systems Announces Completion of Plan of Arrangement appeared first on NexJ Systems.

Constellation is a large public company focused on, through its operating groups including the Harris operating group, investing in, and managing, software companies with mission-critical products and a strong industry presence and has been operating in a variety of vertical markets for over 25 years.

NexJ is joining a financially stable and growing portfolio of companies that will support our future growth objectives. The Constellation business philosophy of long-term value realization and commitment to the companies they acquire will protect our customer’s existing and future investments in NexJ technology.

With strong financial backing, NexJ will continue to focus on building world-class CRM and Integrated Advisor Desktop (IAD) solutions for Wealth Management and Private Banking (B2C) and Corporate and Commercial Banking (B2B).

“Constellation’s buy and hold investment strategy and commitment to providing customers software for life makes Harris a perfect permanent owner of NexJ,” said Paul O’Donnell, NexJ CEO. “NexJ prides itself in its ‘customer-first’ mentality. Once NexJ is acquired by Harris, our customers who rely on our technology to support the day-to-day operations of their business will continue to receive exceptional dedicated support and services for all NexJ products.”

Under the terms of the Arrangement Agreement, each NexJ shareholder will receive cash consideration of C$0.55, on a fully diluted basis, for each NexJ share held (the “Consideration”).  The Consideration represents an approximate 45% premium to the closing price of the NexJ shares on the Toronto Stock Exchange (the “TSX”) on August 26, 2022, and an approximate 35% premium to the volume weighted average price of the NexJ shares over the last 20 trading days.

“The acquisition by Harris, a wholly owned subsidiary of Constellation (TSX:CSU) will provide the financial strength and operational support required as NexJ continues its transition to a subscription-based license model and seeks to grow its global competitiveness and provides a secure future for our customers and employees,” said Scott Beattie, Chair of NexJ’s Board.

Special Committee and Board of Directors Recommendations

NexJ’s Board of Directors (the “Board”) established a special committee of independent directors (the “Special Committee”) comprised of E. Scott Beattie (Chair), William F. Morris and David Yach, to consider the Transaction. INFOR Financial Inc. has provided a fairness opinion to the Special Committee (the “Fairness Opinion”) stating that in its opinion as of the date thereof, and based upon and subject to the assumptions, limitations and qualifications set forth therein, the Consideration to be received by the NexJ Shareholders pursuant to the Transaction is fair, from a financial point of view, to the NexJ Shareholders.

The Board, after receiving financial and legal advice, and following receipt of the Fairness Opinion and the unanimous recommendation of the Special Committee, has unanimously determined that the Transaction is in the best interests of NexJ and is unanimously recommending that NexJ Shareholders vote in favour of the Transaction.

The Transaction was approved by the Board based on consideration of the recommendation of the Special Committee, Bill Tatham abstaining as a result of his role as Executive Chairman of NexJ Health Holdings Inc., which as part of the Transaction will release the Company from certain non-competition and customer non-solicitation covenants in exchange for the release of NexJ Health Holdings Inc. from certain non-competition and customer non-solicitation covenants, surrender of certain of its shares and release of certain accounts payable owing to the Company.

In recommending the Transaction, the Special Committee and the Board considered and evaluated a number of factors, including those listed below:

• Review of Strategic Alternatives Process. Prior to recommending the transaction, the Special Committee considered the extensive nature of NexJ’s strategic alternatives process (the “Strategic Alternatives Process”) to identify a strategic partner or purchaser for the Company which, over the period of the process, did not secure a transaction on terms considered to provide greater value with an appropriate degree of risk than the terms proposed by NHC, and in particular, (i) the public disclosure of the Company’s intent to undertake the Strategic Alternatives Process in September 2019, and the period of time over which interested parties could assess their interest in considering a potential transaction with the Company; (ii) the volatility in the capital markets which negatively impacted the process throughout 2020 and subsequently in early 2022, (iii) the extent of the efforts made by the Company and its financial advisors to identify and engage with parties having interest in a potential transaction with the Company, and, (iv) the assessment of potential transactions and their associated financial risk resulting from discussions and negotiations with parties, other than NHC, that did express interest but did not result in a transaction.
• No Brokerage Fees or Commissions. The Transaction will allow each NexJ Shareholder to dispose of their common shares without incurring brokerage fees or commissions.
• Company Performance and Financial Condition. The Special Committee recognized that the market dynamics and commercial challenges facing the company could not be ameliorated without additional capital to improve its competitiveness. The Special Committee considered the low likelihood of obtaining any additional equity financing for the Company, and the uncertainty and cost that would be associated with obtaining debt financing. The Special Committee has therefore concluded that without additional capital, the risk to shareholders would likely increase in the future.
• Fairness Opinion. The Special Committee considered and relied on the Fairness Opinion and its conclusion that, as of the date thereof, and subject to the assumptions, limitations and qualifications contained therein, the consideration to be received by the NexJ Shareholders pursuant to the Transaction is fair from a financial point of view to the NexJ Shareholders.
• Shareholder and Court Approval. The Transaction must be approved by the affirmative vote of at least 66⅔% of the votes cast by NexJ Shareholders at a special meeting to be held to consider and approve the Transaction, as well as by the Ontario court.
• Arm’s Length Negotiations. The Transaction and the Arrangement Agreement are the result of a comprehensive negotiation process that was undertaken at arm’s length with the oversight and participation of the Special Committee and the Board and the participation of legal counsel, which resulted in an agreement with terms and conditions that are reasonable in the judgment of the Special Committee and the Board.
• Ability to Respond to Superior Proposals. The terms and conditions of the Arrangement Agreement do not prevent a third party from making an unsolicited Acquisition Proposal (as defined in the Arrangement Agreement) and, subject to compliance with the terms of the Arrangement Agreement, the Board is not precluded from considering and responding to an unsolicited Acquisition Proposal that constitutes, or could reasonably be expected to constitute, a Superior Proposal at any time prior to obtaining the approval by NexJ Shareholders of the Transaction.
• Interim Period Restrictions. The restrictions on the Company’s business until the Transaction is completed or the Arrangement Agreement is terminated are reasonable and are not expected to impair or materially affect the Company’s business during such period.
• Deal Certainty. The Special Committee considered the likelihood that the Transaction would be completed in light of the customary nature of the conditions to closing under the Arrangement Agreement, and the fact that the Transaction is not subject to a financing condition.

In addition, directors, executive officers and other shareholders of NexJ, who as of the date hereof collectively hold approximately 43.8% of the NexJ Shares, have entered into voting support agreements to support the Transaction and vote their NexJ Shares in favour of the Transaction.

Transaction Details

The Transaction will be implemented by way of a statutory plan of arrangement under the Canada Business Corporations Act and will require the approval of 66 2/3% of the votes cast by NexJ Shareholders at a special meeting of NexJ Shareholders to be called to approve the Transaction (the “Special Meeting”). Pursuant to the “minority approval” requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, the Transaction must also be approved by a simple majority of the votes validly cast by the NexJ Shareholders present in person or by proxy at the Meeting, excluding the votes of Paul O’Donnell, President and CEO of NexJ, and Richard J. Broley, Chief Operating Officer of NexJ, each of whom is deemed to receive a “collateral benefit” pursuant to the Transaction as a result of the trigger of the change of control payments stipulated in their respective employment agreements.

The completion of the Transaction will also be subject to obtaining required court and other approvals and satisfaction of closing conditions customary for a transaction of this nature.  The Arrangement Agreement includes customary deal-protection provisions.  NexJ is subject to non-solicitation provisions and in certain circumstances, the Board may terminate the Arrangement Agreement in favour of an unsolicited superior proposal, subject to the payment of a termination fee of C$800,000 and subject to a right of NHC to match such superior proposal.  Such a termination fee is also payable by NexJ if the Arrangement Agreement is terminated in certain other specified circumstances, including if the Board changes its recommendation or NexJ wilfully or intentionally breaches its non-solicitation covenant.

It is anticipated that the Special Meeting will be held in October 2022. Following closing of the Transaction, the NexJ Shares would be delisted from the TSX. The Transaction is expected to close in the fourth quarter of 2022.

Advisors and Counsel

INFOR Financial Inc. provided the Fairness Opinion in connection with the Transaction. Blake, Cassels & Graydon LLP is acting as counsel to NexJ and Cassels Brock & Blackwell LLP is acting as counsel to NHC.

Additional Information about the Proposed Transaction

A copy of the written Fairness Opinion, and a description of the various factors considered by the Board in its determination to approve the Transaction, as well as other relevant background information, will be included in the management information circular to be sent to NexJ’s shareholders in advance of the Special Meeting. The management information circular, the Arrangement Agreement, including the plan of arrangement, and certain related documents will be filed with the Canadian securities regulators and will be available on SEDAR at www.sedar.com.

About N. Harris Computer Corporation

Harris acquires vertical market software businesses, manages them using industry best practices, and builds them for the future. Through acquisitions, Harris has grown extensively from its roots in the utilities, local government, education, and healthcare sectors to operate over 180 businesses globally across more than twenty industries. Harris is an operating group of Constellation Software Inc. (TSX: CSU), one of North America’s most active acquirers of software businesses.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416­222-5611.

Notice on Forward-looking Statements

This press release includes forward-looking statements regarding NexJ. In some cases, the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to”, “could”, “should”, “target”, “envision”, and other similar language. Forward looking statements in this press release include those related to the Transaction, the anticipated date of the Special Meeting,  timing for closing of the Transaction, the expected de-listing of the NexJ common shares on the TSX following completion of the Transaction, protection of customer investments in NexJ products and continuing focus by NexJ on its solutions and support and services for its customers; the delivery of financial strength and operating support by Constellation to NexJ and the continued ownership of NexJ by Constellation. These statements are based on the Company’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company’s assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company’s actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) the ability to secure the required shareholder or court approvals; (ii) the occurrence of a “Material Adverse Effect” (as defined in the Arrangement Agreement) or the failure to satisfy any other closing condition in favour of NHC provided for in the Arrangement Agreement, which condition is not waived by NHC; (iii) general business, economic, competitive, political and social uncertainties; and (iv) the future performance, financial and otherwise, of NexJ. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.

The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) risks relating to the receipt of all requisite approvals for the Transaction; (ii) fluctuation in our quarterly operating results; (iii) our dependence on key personnel and our compensation structure; (iv) risks associated with managing large and complex software implementation projects; (v) uncertainties and assumptions in our sales forecasts, including the extent to which sales proposals are converted into sales; (vi) risks associated with our ability to design, develop, test, market, license and support our software products on a timely basis; (vii) market acceptance of our products and services; (viii) commercial success of products resulting from our investment in research and development; (ix) our success in expanding sales into new international markets; (x) competition in our industry; (xi) failure to protect our intellectual property or infringement of intellectual property rights of third parties; (xi) reliance upon a limited number of third-party software products to develop our products; (xiii) defects or disruptions in our products and services; (xiv) currency exchange rate fluctuations; (xv) lengthy sales cycles for our software; (xvi) general economic conditions; (xvii) failure to manage our growth successfully; (xviii) breach of our security measures and unauthorized access to data; and (xix) litigation, including litigation relating to the proposed Transaction, and commercial, product liability, employment, class action and other litigation and claims.

For additional information with respect to risks and other factors which could occur, see the Company’s most recently filed Annual Information Form for the year ended December 31, 2021 dated March 8, 2022 and NexJ’s June 30, 2022 MD&A, and other securities filings with the Canadian securities regulators available on www.sedar.com. Unless otherwise required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The post NexJ Systems to be Acquired by Harris appeared first on NexJ Systems.

First Quarter Summary

• The Company continued its planned transition from a perpetual license model to a more predictable subscription license model generating $691K in license and subscription revenue for the first quarter, an increase of $645K as compared to $43K in the first quarter of the previous year
• Continued to increase the recurring subscription license revenue by delivering new subscription license product to a leading US wealth management firm that supports real-time data streaming for enhanced analytics and reporting
• Unbilled contracted subscription license revenue of $954K will be recognized as revenue in future quarters as compared to zero in the first quarter of the previous year
• $4.03M of revenue for the first quarter as compared to $3.93M in the first quarter of the previous year
• $406K in Adjusted EBITDA loss for the first quarter as compared to $96K profit in the first quarter of the previous year
• $565K of net loss for the first quarter as compared to $283K of net loss in the first quarter of the previous year
• The Company has rationalized its real estate requirements during the quarter which will result in significant cost savings commencing in the second half of 2022

“Our focus on building subscription-based license revenue continued, delivering 17% of total revenue for the quarter and contributing strongly to an overall increase in revenue versus the same period last year.  With over 85% recurring revenues and continued prudent expense management, we have established a strong foundation for future growth”, said Paul O’Donnell, CEO.  “As the market responds to increasing demand for a more cohesive, data-rich advisor experience, NexJ’s core technology and domain expertise in delivering a truly integrated advisor workstation position us well to further capitalize on that demand.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted

EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Systems Reports First Quarter 2022 Results appeared first on NexJ Systems.

Fourth Quarter Summary

• The Company continued its planned transition from a perpetual license model to a more predictable subscription license model generating $551K in license and subscription revenue for the fourth quarter, an increase of $505K as compared to $46K in the fourth quarter of the previous year
• Unbilled contracted subscription license revenue of $964K will be recognized as revenue in future quarters as compared to zero in the previous year
• $3.6M of revenue for the fourth quarter as compared to $4.2M in the fourth quarter of the previous year
• $225K in Adjusted EBITDA for the fourth quarter as compared to $836K in the fourth quarter of the previous year
• $186K of net loss for the fourth quarter as compared to $417K of net income in the fourth quarter of the previous year
• $1.5M in license and subscription revenue for the year, an increase of $1.3M as compared to $156K in the previous year
• $15.3M in revenue for the year as compared to $16.9M in the previous year
• $821K in Adjusted EBITDA for the year as compared to $985K in the previous year
• $468K in net loss for the year is a $1.0M improvement over $1.5M of net loss in the previous year
• Continued to increase the recurring subscription license revenue by delivering two new subscription license products to a leading bank based in Australia and New Zealand that support multiple cloud deployment options and real-time data streaming for enhanced analytics and reporting

“In 2021 our subscription-based license model continued to grow with subscription software licenses making up approximately 15% of total revenue in Q4 and 10% for 2021,” said Paul O’Donnell, CEO. “The new software pricing model introduced in January 2021 resulted in the deferral of revenue recognition on new software contracts which would otherwise have been recognized as revenue under the previous perpetual license model.  Our strategic partnerships in globally recognizable financial services firms, growing subscription license opportunities, and prudent management of expenses have established a strong foundation for 2022.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted

EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning financial services productivity software is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and help drive increased revenues. With users in over 60 countries, our customers benefit from our deep expertise across financial services sub-verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Systems Reports Fourth Quarter 2021 Results appeared first on NexJ Systems.

Third Quarter Summary

• $4.0M of revenue for the third quarter as compared to $4.3M in the third quarter of the previous year
• $370K in Adjusted EBITDA profit for the third quarter as compared to $900K in the third quarter of the previous year
• $180K of net income for the third quarter as compared to $539K of net income in the third quarter of the previous year
• Continued to increase the recurring subscription license revenue by delivering two new subscription license products to a leading US wealth management firm that support multiple cloud deployment options and real-time data streaming for enhanced analytics and reporting
• Continued to leverage eco-system partnerships to service the rapidly expanding RIA market, driving new customers and incremental subscription license revenue
• Unbilled contracted subscription license revenue that will be recognized as revenue in future quarters stands at $1.4M as compared to zero in the previous year

“The increase in subscription license revenue and unbilled deferred revenue demonstrates our continued commitment to transition the business to a recurring license revenue model,” said Paul O’Donnell, CEO of NexJ, “As we continue to focus our efforts on the remainder of the year we fully expect that we will add additional subscription license revenue, providing the strongest foundation for sustainable growth.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted

EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

NexJ Forward-looking Statement
Certain statements in this press release, including statements about the financial conditions, and results of operations and earnings, may contain words such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to”, “could”, “should”, “target”, “envision”, and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on the Company’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company’s assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company’s actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) the future performance, financial and otherwise, of NexJ; (ii) the ability of NexJ to protect, maintain and enforce its intellectual property rights; (iii) the acceptance by the Company’s customers and the marketplace of new technologies and solutions; (iv) the Company’s growth and profitability prospects; (v) the estimated size and growth prospects of the CRM market; (vi) the Company’s competitive position in the CRM market and its ability to take advantage of future opportunities in this market; (vii) the Company’s ability to attract new customers and develop and maintain existing customers; and (viii) the demand for the Company’s product and the extent of deployment of the company’s products in the CRM marketplace. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.

The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) our dependence on a limited number of customers and large project size; (ii) fluctuation in our quarterly operating results; (iii) our dependence on key personnel and our compensation structure; (iv) risks associated with managing large and complex software implementation projects; (v) uncertainties and assumptions in our sales forecasts, including the extent to which sales proposals are converted into sales; (vi) risks associated with our ability to design, develop, test, market, license and support our software products on a timely basis; (vii) market acceptance of our products and services; (viii) commercial success of products resulting from our investment in research and development; (ix) our success in expanding sales into new international markets; (x) competition in our industry; (xi) failure to protect our intellectual property or infringement of intellectual property rights of third parties; (xii) reliance upon a limited number of third-party software products to develop our products; (xiii) defects or disruptions in our products and services; (xiv) currency exchange rate fluctuations; (xv) lengthy sales cycles for our software; (xvi) general economic conditions; (xvii) failure to manage our growth successfully; (xviii) failure to successfully manage and integrate acquisitions; (xix) breach of our security measures and unauthorized access to data; (xx) employee retention and (xxi) litigation, including commercial, product liability, employment, class action and other litigation and claims.

For additional information with respect to risks and other factors which could occur, see the Company’s most recently filed Annual Information Form for the year ended December 31, 2020 dated February 18, 2021, and other securities filings with the Canadian securities regulators available on www.sedar.com.  Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The post NexJ Systems Reports Third Quarter 2021 Results appeared first on NexJ Systems.

Toronto, ON (August 17, 2021) — NexJ Systems Inc. (TSX: NXJ), a provider of intelligent customer management software to the financial services industry, announced today that Celent, a global research and advisory firm for the financial services industry, has recognized NexJ for having the best CRM technology for wealth management in its recently published report CRM Platforms: North America Wealth Management Edition. Click here to download a free copy.

NexJ is Unique, Flexible and Accessible

“NexJ is regarded as a vanguard solution in our North American CRM analysis, in large part due to their AI capabilities supporting Next Best Action and content marketing,” said Awaad Aamir, Wealth Management analyst for Celent. “What sets NexJ apart is how its list of partnerships with system integrators and fintech players has made it a viable CRM tool for large Wirehouses and smaller RIAs”

NexJ Wins Award for CRM Technology

NexJ was named the winner of the XCelent award for CRM technology because of our focus on delivering enhanced client engagement capabilities. Celent believes that “a CRM platform that facilitated strong advisor-client engagement was a cornerstone for strengthening the relationship during and hopefully after the pandemic.” NexJ’s Nudge-AI suite of products does exactly that as Engage presents advisors with a dashboard of recommended activities or the Next Best Actions while Inform automates the collection of content that is hyper-personalized to a clients profile and interests, a capability that is a “key differentiator for CRM providers”.

“This recognition is extremely gratifying,” said Paul DeVriendt, Head of Products of NexJ Systems, “From our very first day we set our sights on delivering best-in-class CRM for wealth management with a strong focus on enhancing client engagement. The industry is receptive to our vision, world-class technology, and breadth of functionality and our continuous innovation fosters our long-standing relationships with the world’s leading wealth management firms.”

NexJ Focuses on Addressing the Needs of Advisors

As a niche provider of CRM for wealth management, NexJ is keenly focused on addressing the needs of advisors including capabilities that enable them to form deep connections to clients. This commitment was apparent to the authors, who noted our focus on:

• Driving better, smarter, and more personalized engagement
• Deep vertical-specific capabilities to drive efficiency and enhance the client experience
• Creating an improved comprehensive view of the client for greater insights and analytics
• Enriching functional capability with strategic product partnerships

“We are continually augmenting our enhanced client engagement software with advanced analytics capabilities while maintaining our focus on introducing functionality that assists wealth advisors build better relationships, maximize productivity, and capture a greater share of wallet,” continued Mr. DeVriendt.

Click here to read Celent’s report, XCELENT Awards 2021, CRM Platforms: North America Wealth Management Editions.  For more information about NexJ’s solutions, please visit www.nexj.com or email info@nexj.com.

The post Celent recognizing NexJ’s CRM Technology for Wealth Management – Advanced Technology Category appeared first on NexJ Systems.

First Quarter Summary

• $3.8M of revenue for the second quarter as compared to $4.3M in the second quarter of the previous year
• $130K in Adjusted EBITDA profit for the second quarter as compared to $582K in the second quarter of the previous year
• $179K of net loss for the second quarter as compared to $1.2M of net loss in the second quarter of the previous year
• Generated new subscription license revenue from our relationship with a leading US brokerage firm by delivering new technology that seamlessly supports multiple deployment options including public, private and hybrid clouds
• Delivered our new reporting and dashboarding platform to a multi-national European headquartered wealth management firm
• Entered the rapidly expanding RIA market through our eco-system partnership, driving more new customers onto our cloud service adding to our subscription license revenue in the past three months
• Building on our partnership with IBM, our products were released on IBM Cloud for Financial Services, designed to help address financial services institutions regulatory compliance, security and resiliency requirements

“New client acquisition and the shifting revenue mix to new subscription-based product revenue within our client base and our partner ecosystem is contributing towards higher recurring revenue,” said Paul O’Donnell, CEO of NexJ, “The journey we began in 2019 is beginning to have a positive impact and while our recognized revenue is lower than last year at this time our subscription license revenue and software contract backlog continues to grow.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted

EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Systems Reports Second Quarter 2021 Results appeared first on NexJ Systems.

Toronto, ON (July 7, 2021) — NexJ Systems Inc. (TSX: NXJ), delivering intelligent customer management software to the financial services industry, today announced a new subscription license agreement with a leading US Brokerage firm resulting from a new product designed and developed specifically for the wealth management market.

Delivering improvements in user experience and performance, this new enabling technology offers further key benefits derived from an enhanced ability to introduce business functionality with greater agility and streamline the process of integrating products across the wealth management eco-system.  In addition, the new platform technology futureproofs NexJ Systems’ prospects and clients by seamlessly supporting multiple deployment options including public, private and hybrid clouds.

“The roster of wealth managers NexJ is proud to serve represents a number of high-profile brand names. We achieved this by offering state of the art technology that delivers real business value. We feel privileged to work with our clients to continually introduce new products to further their goals and business needs,” said Rick Broley, Chief Operating Officer.

The business transformation that was started in mid-2019 has led to the introduction of several new products including the Nudge-AI suite of products; Inform, Engage and Insights, as well as complementary modular products to enhance the deeper vertical cloud CRM solutions that that can now be deployed more cost-effectively. Introducing these new subscription-based offerings to market will deliver predictable software license revenue now and into the future.

The post NexJ Systems Expands Relationship with Leading US Brokerage Firm appeared first on NexJ Systems.

Toronto, ON (June 29, 2021) — NexJ Systems Inc. (TSX: NXJ), delivering intelligent customer management solutions to the financial services industry, today announces new client acquisitions resulting from our cloud initiative and eco-system expansion.

In April of 2021 we expanded the availability of our significantly enhanced, cloud-based relationship management solution through a partnership with Bill Good Marketing. Specifically focusing on the rapidly growing RIA market, NexJ is fulfilling its goal to drive increased customer acquisition and bring its considerable experience to bear across the broader market.

NexJ Systems has a long history of innovation in delivering intelligent customer management software serving world class financial services firms such as Credit Suisse, RBC, UBS and Wells Fargo. As we have evolved our solutions over the years, we have continually demonstrated thought leadership and introduced new complementary technologies though ecosystem partnerships. NexJ Systems’ vision is validated by major eco-system vendors as evidenced by the recent acquisitions of NexJ partners Grapevine6 (by Seismic) and AdvisorStream (by Broadridge).

We believe that BGM is another example of our ability to identify trends and introduce products to market that address a wealth manager’s very specific needs. With industry recognized, out of the box, practice management capability, BGM is driving accelerated client acquisition.  More than 30 new RIA clients have been onboarded to the NexJ cloud in the last 90 days and now manage their book of business with the support of NexJ Systems and our partners.

“While we are pleased with the initial results of our efforts, we recognize that we have a massive opportunity and a lot of hard work ahead of us. We particularly want to thank our partners efforts for their contribution to this early success and their commitment to our continued joint efforts. New subscription agreements will begin to be recognized this quarter.” said Matthew Bogart, VP Marketing at NexJ Systems.

About NexJ Systems Inc.

NexJ Systems develops Intelligent Customer Management products for the financial services industry. Its award-winning products are designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, its products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, its customers benefit from its deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

NexJ Forward-looking Statement

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ’s current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently, its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ’s securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com.  Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information:

The post NexJ Systems Expands Market Reach Through Partner Ecosystem appeared first on NexJ Systems.

First Quarter Summary

• $3.93M of revenue for the first quarter as compared to $3.98M in the first quarter of the previous year
• $96K in Adjusted EBITDA profit for the first quarter is a $1.43M improvement over Adjusted EBITDA loss of $1.33M in the previous year
• $283K of net loss for the first quarter is a $971K improvement over $1.25M of net loss in the first quarter of the previous year
• Cash balance increased by $2.5M to $7.9M at the end of the quarter
• Established three strategic partnerships:
  • AdvisorStream to deliver our Inform product that enables hyper-personalized content to drive improved client acquisition, engagement and retention resulting in greater share of wallet. Click here for more information
  • Bill Good Marketing as a reseller of NexJ’s cloud-based CRM for wealth management creating opportunities for firms of all sizes to take advantage of our deep vertical product functionality to achieve their growth objectives. Click here for more information
  • Sand Hill East LLC, to identify incremental sales opportunities and leverage their business development capabilities in the financial services market to drive revenue acceleration. Click here for more information

“Many of the world’s most recognized financial services firms continue to benefit from our solutions. This underpins our ability to generate revenue as we commercialize new products”, said Paul O’Donnell, CEO of NexJ Systems. “We remain committed to expanding our go-to-market initiatives, as evidenced by our new partnerships and our expectation is that these new initiatives will contribute to our goal of increasing our subscription license revenue this year and beyond.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted

EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Systems Reports First Quarter 2021 Results appeared first on NexJ Systems.

Toronto, ON (April 20, 2021) — NexJ Systems Inc. (TSX: NXJ), announces it is partnering with Bill Good Marketing, the leader in growth, retention, and practice management solutions for financial advisors, and the release of Gorilla 5. Gorilla 5 is powered by NexJ CRM for Wealth Management, NexJ’s deep vertical and industry leading customer relationship management product.

Through this collaboration, Bill Good Marketing have and will continue to develop a new platform that combines both a next-generation CRM and unparalleled marketing content, campaigns, and best practices geared entirely toward helping advisors grow their business, increase efficiencies in the office and improve their client relationships.

“This is a game changer for our industry. Our founder built one of the first CRM’s in the industry, and now we have the capability to continuously improve on the core principles of that technology,” said Frantz Widmaier, CEO of Bill Good Marketing. “Now more than ever financial advisors are looking for cutting edge technology to give them an edge. NexJ CRM for Wealth Management combined with our deep knowledge of the industry puts us in a unique position to help our clients dominate their market.”

“Wells Fargo, RBC and UBS are examples of customers that continue to benefit from our deep vertical CRM. While continuing to pursue these globally recognized brands, NexJ is committed to expanding the availability of our industry leading CRM for Wealth Management to a larger segment of the market,” said Matthew Bogart, VP Marketing at NexJ Systems. “Teaming up with Bill Good Marketing and launching Gorilla 5 will create opportunities for firms of all sizes to take advantage of our complementary expertise to achieve their growth objectives.”

Now is the time to join the growing community on Gorilla 5, sign up here.

About Bill Good Marketing

Bill Good Marketing was founded in 1977 by Bill Good. He was one of the first in the industry to teach advisors how to sell, prospect, and build a team. In 2012, he was named by Wealth Management.com as one of the top coaches in the financial services industry. Bill Good Marketing helps advisors double their production in 2-3 years by offering everything an advisor and their team needs to reach their goals faster. Including strategy, content, campaigns, and guidance.

About NexJ Systems Inc.

NexJ Systems develops Intelligent Customer Management products for the financial services industry. Its award-winning products are designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, its products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, its customers benefit from its deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

NexJ Forward-looking Statement

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ’s current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently, its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ’s securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com.  Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information:

The post Bill Good Marketing and NexJ Systems Announce Partnership and Release of Gorilla 5 appeared first on NexJ Systems.

The Sand Hill East team comprises a network of subject matter experts that have spent the majority of their careers advancing key technology initiatives for some of the world’s leading financial institutions including Morgan Stanley, Deutsche Bank, Merrill Lynch, Bank of America, UBS and Credit Suisse.

“NexJ has a proven ability to deliver great value to many of the most recognized global financial services firms with their intelligent customer management products,” said Andy Brown, CEO and Co-Founder of Sand Hill East. “We look forward to presenting the benefits that can be achieved through NexJ’s technology to key decision makers in the wealth management and banking sectors.”

“With a full revision of our flagship advisor and banking front-office software and a new suite of AI-driven modular technology now available, we are wholly focused on driving top-line growth this year and into the future,” said Paul O’Donnell, CEO of NexJ Systems Inc. “Sand Hill East has a strong track record of connecting innovative software vendors with financial services firms and we look forward to working with them to grow our position in the market.”

About NexJ Systems Inc.

NexJ Systems develops Intelligent Customer Management products for the financial services industry. Its award-winning products are designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. NexJ products have been deployed in some of the largest financial institutions in the world to help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, its customers benefit from its deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-22-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

About Sand Hill East

Sand Hill East LLC is a strategic venture advisory group supporting the growth of digital, technology, and FinTech businesses. Founded in 2014 with the goal of leveraging their extensive technology and business experience, the team has built a robust ecosystem reaching across the tech startup, financial services and investment community. The Sand Hill East Team works in between ideas, capital and enterprises to identify gaps that can be filled by innovative technology products.  Sand Hill East mentors founders and companies through the critical stages of development by offering advisory services and leveraging the strength of their networks. For more information, visit https://sandhilleast.net

NexJ Forward-looking Statement

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ’s current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently, its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ’s securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com.  Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The post NexJ Systems Engages Sand Hill East for Business Acceleration appeared first on NexJ Systems.

Fourth Quarter Summary

• $4.2M of revenue for the fourth quarter as compared to $4.6M in the fourth quarter of the previous year
• $836K in Adjusted EBITDA profit for the fourth quarter is a $1.0M improvement over $164K in Adjusted EBITDA loss in the fourth quarter of the previous year
• $417K of net income for the fourth quarter is a $1.0M improvement over $632K of net loss in the fourth quarter of the previous year
• $16.9M in revenue for the year as compared to $17.2M in the previous year
• $985K in Adjusted EBITDA profit for the year is a $6.2M improvement over Adjusted EBITDA loss of $5.2M in the previous year
• $1.5M in net loss for the year is a $6.2M improvement over $7.7M of net loss in the previous year

“Despite the many challenges faced by the business community throughout 2020 resulting from the global pandemic, we are pleased with our improving quarterly results and the continued support of our customers,” said Paul O’Donnell, CEO. “Our continued investments in AI-driven advisor and relationship manager tools that deliver hyper-personalization at scale to improve client acquisition, engagement and retention are completely aligned with current market demands.  In support of our go-to-market efforts to maximize this opportunity, we have established a partnership with a highly-specialized firm with deep domain knowledge and a strong network in financial services which we expect will have a positive contribution to subscription license revenue in 2021.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted

EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

NexJ Forward-looking Statement
Certain statements in this press release, including statements about the financial conditions, and results of operations and earnings, may contain words such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to”, “could”, “should”, “target”, “envision”, and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on the Company’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company’s assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company’s actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) the future performance, financial and otherwise, of NexJ; (ii) the ability of NexJ to protect, maintain and enforce its intellectual property rights; (iii) the acceptance by the Company’s customers and the marketplace of new technologies and solutions; (iv) the Company’s growth and profitability prospects; (v) the estimated size and growth prospects of the CRM market; (vi) the Company’s competitive position in the CRM market and its ability to take advantage of future opportunities in this market; (vii) the Company’s ability to attract new customers and develop and maintain existing customers; and (viii) the demand for the Company’s product and the extent of deployment of the company’s products in the CRM marketplace. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.

The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) our dependence on a limited number of customers and large project size; (ii) fluctuation in our quarterly operating results; (iii) our dependence on key personnel and our compensation structure; (iv) risks associated with managing large and complex software implementation projects; (v) uncertainties and assumptions in our sales forecasts, including the extent to which sales proposals are converted into sales; (vi) risks associated with our ability to design, develop, test, market, license and support our software products on a timely basis; (vii) market acceptance of our products and services; (viii) commercial success of products resulting from our investment in research and development; (ix) our success in expanding sales into new international markets; (x) competition in our industry; (xi) failure to protect our intellectual property or infringement of intellectual property rights of third parties; (xii) reliance upon a limited number of third-party software products to develop our products; (xiii) defects or disruptions in our products and services; (xiv) currency exchange rate fluctuations; (xv) lengthy sales cycles for our software; (xvi) general economic conditions; (xvii) failure to manage our growth successfully; (xviii) failure to successfully manage and integrate acquisitions; (xix) breach of our security measures and unauthorized access to data; (xx) employee retention and (xxi) litigation, including commercial, product liability, employment, class action and other litigation and claims.

For additional information with respect to risks and other factors which could occur, see the Company’s most recently filed Annual Information Form for the year ended December 31, 2020 dated February 18, 2021, and other securities filings with the Canadian securities regulators available on www.sedar.com.  Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The post NexJ Systems Reports Fourth Quarter 2020 Results appeared first on NexJ Systems.

The Company’s quarterly results will be disseminated via press release and made available on the Company’s website (www.nexj.com) and SEDAR.  As outlined in NexJ’s press release on May 31, 2019, NexJ has ceased holding conference calls to discuss the Company’s quarterly financial results.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Systems to Report Fourth Quarter Fiscal 2020 Financial Results on Thursday, February 18, 2021 appeared first on NexJ Systems.

The new product, called Inform, is the first intelligent digital assistant that enables advisors to offer hyper-personalized, curated content and create superior value-added customer experiences throughout the client life cycle.

Read the full article on WealthProfessional.ca

The post Taking client content customization to the next level appeared first on NexJ Systems.

Innovative ‘Inform’ is first Intelligent Digital Assistant that marries deep data with ROI-focused marketing initiatives to help wealth managers better communicate

Toronto, ON (January 12, 2021) — NexJ Systems Inc. (TSX: NXJ), announces it is partnering with AdvisorStream to enhance a product that enables wealth managers to better address the need to meaningfully engage with clients. Inform is the first intelligent digital assistant that allows advisors to hyper-personalize content and deliver superior, value-added, customer experiences throughout the client lifecycle.

Awaad Amir, Wealth Management analyst for Celent, the leading research and advisory firm focused on technology for financial institutions globally, advocates the critical need for digital content marketing. Understanding how the NexJ and AdvisorStream partnership benefits the industry Mr. Amir says, “Licensed content usually garners higher levels of engagement over content that’s publicly available. Further, using personalization tools to distribute exclusive content is a powerful and smart client engagement strategy.”

NexJ’s innovative Inform product, coupled with AdvisorStream’s trusted 5-star rated content marketing platform drives higher client acquisition, engagement and retention. All content is exclusively licensed from industry recognized sources, with no paywall or advertisements, and is fully compliant with FINRA, SEC, IIROC and FCA regulations.

How it works:

NexJ’s Inform product leverages information a firm has about a client such as demographic and transaction data to build a unique client interest profile. The profile is further enhanced using the most advanced AI, including Natural Language Processing to analyze client or prospect interests sourced from interactions (like email and notes from the firm’s CRM system).  Once the client or prospect interests have been identified, Inform allows advisors to automatically or manually deliver a stream of content, hyper-personalized to each recipient.

“Our partnership with AdvisorStream is a natural fit. We share a vision of helping wealth managers better engage their clients and facilitate their ability to generate more assets,” says Paul DeVriendt, Senior Vice President of Product at NexJ Systems Inc. “Inform, powered by AdvisorStream, helps wealth managers improve the client experience by delivering relevant and meaningful content with no paywalls or ads, and saves valuable time by automating the selection of content that matches client interests. This builds loyalty by enabling regular, proactive interactions with clients.”

Kevin Mulhern, AdvisorStream CEO and Co-founder says: “Inform answers the call of our enterprise clients for a next-level product that helps maximize the return on the significant investments they have made in CRM technologies. It marries deep data with ROI-focused marketing initiatives. AdvisorStream’s partnership with NexJ is aligned with the goals of wealth managers to cost-effectively manage the unspoken expectations of clients and prospects; to have a deeper understanding of their wants, needs, dreams, concerns and life events and deliver the most relevant, real-time, trusted content through unprecedented hyper-personalization.”

To learn more, please visit the Inform website.

About NexJ Systems Inc.

NexJ Systems develops Intelligent Customer Management products for the financial services industry. Its award-winning products are designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, its products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, its customers benefit from its deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

About AdvisorStream

AdvisorStream is the highest-rated marketing platform for enterprises and financial advisors and is fully partnered with the world’s most credible and trusted publishers. The award-winning platform helps financial firms and advisors engage investors through timely, personalized and compliant communications. As an omni-channel marketing service, AdvisorStream delivers the highest-quality and up-to-date article, commentary, video and infographic content through newsletters, social media, emails, websites, and client portals. Every year, AdvisorStream delivers hundreds of millions of communications materials on behalf of its vast network of financial advisors. Headed by CEO, co-founder and industry thought leader Kevin Mulhern, AdvisorStream has offices in New York, London, and Toronto.

For more information, visit AdvisorStream.com or connect with us on social media on Facebook,  LinkedIn, Twitter, or Instagram.

NexJ Forward-looking Statement

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on NexJ’s current expectations, estimates, forecasts and projections about the operating environment, economies, and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. NexJ’s assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently, its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see NexJ’s securities filings with the OSC and other securities regulators. NexJ securities filings are available on www.sedar.com.  Unless otherwise required by applicable securities laws, NexJ disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The post NexJ Systems Partners with AdvisorStream to Solve Critical Problem in Wealth Management appeared first on NexJ Systems.

“Ian has been a long-standing member of the board of directors, and we appreciate his valuable guidance and advice during his 14 years of service,” said E. Scott Beattie, Chairman of the NexJ board of directors. “Over this time, he has made many contributions and always provided thoughtful and thorough analysis of issues affecting NexJ. On behalf of the board of directors, the management team and our shareholders, I thank Ian and wish him all the best in the future.”

“I am pleased to have served NexJ on its board since 2006, said K. Ian McPhee.  “The addition of two excellent new directors this year makes this an opportune time to transition. I wish NexJ and all my colleagues every success”.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Systems Announces Retirement of Board Member appeared first on NexJ Systems.

Third Quarter Summary

• $4.3M of revenue for the third quarter as compared to $4.0M in the third quarter of the previous year
• $900K in Adjusted EBITDA profit for the third quarter is a $2.2M improvement over $1.3M in Adjusted EBITDA loss in the third quarter of the previous year
• $539K of net income for the third quarter is a $2.3M improvement over $1.8M of net loss in the third quarter of the previous year

“Our continued focus on our key clients has delivered another quarter of stable revenue which is providing a solid foundation for building sustainable future growth,” said Paul O’Donnell, CEO of NexJ Systems. “As we continue to release new and innovative modular digital assistants to drive incremental software license revenue we are encouraged that the financial services industry is continuing to invest in digital technology to drive higher quality relationships and improved client engagement.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

NexJ Forward-looking Statement
Certain statements in this press release, including statements about the financial conditions, and results of operations and earnings, may contain words such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to”, “could”, “should”, “target”, “envision”, and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on the Company’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company’s assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company’s actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) the future performance, financial and otherwise, of NexJ; (ii) the ability of NexJ to protect, maintain and enforce its intellectual property rights; (iii) the acceptance by the Company’s customers and the marketplace of new technologies and solutions; (iv) the Company’s growth and profitability prospects; (v) the estimated size and growth prospects of the CRM market; (vi) the Company’s competitive position in the CRM market and its ability to take advantage of future opportunities in this market; (vii) the Company’s ability to attract new customers and develop and maintain existing customers; and (viii) the demand for the Company’s product and the extent of deployment of the company’s products in the CRM marketplace. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.

The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) our dependence on a limited number of customers and large project size; (ii) fluctuation in our quarterly operating results; (iii) our dependence on key personnel and our compensation structure; (iv) risks associated with managing large and complex software implementation projects; (v) uncertainties and assumptions in our sales forecasts, including the extent to which sales proposals are converted into sales; (vi) risks associated with our ability to design, develop, test, market, license and support our software products on a timely basis; (vii) market acceptance of our products and services; (viii) commercial success of products resulting from our investment in research and development; (ix) our success in expanding sales into new international markets; (x) competition in our industry; (xi) failure to protect our intellectual property or infringement of intellectual property rights of third parties; (xii) reliance upon a limited number of third-party software products to develop our products; (xiii) defects or disruptions in our products and services; (xiv) currency exchange rate fluctuations; (xv) lengthy sales cycles for our software; (xvi) general economic conditions; (xvii) failure to manage our growth successfully; (xviii) failure to successfully manage and integrate acquisitions; (xix) breach of our security measures and unauthorized access to data; (xx) employee retention and (xxi) litigation, including commercial, product liability, employment, class action and other litigation and claims.

For additional information with respect to risks and other factors which could occur, see the Company’s most recently filed Annual Information Form for the year ended December 31, 2019 dated March 26, 2020, and other securities filings with the Canadian securities regulators available on www.sedar.com.  Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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The post NexJ Systems Reports Third Quarter 2020 Results appeared first on NexJ Systems.

The Company’s quarterly results will be disseminated via press release and made available on the Company’s website (www.nexj.com) and SEDAR. As outlined in NexJ’s press release on May 31, 2019, NexJ has ceased holding conference calls to discuss the Company’s quarterly financial results.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

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The post NexJ Systems to Report Third Quarter Fiscal 2020 Financial Results on Thursday, October 29, 2020 appeared first on NexJ Systems.

Second Quarter Summary

• $4.3M of revenue for the second quarter as compared to $4.4M in the second quarter of the previous year
• $582K in Adjusted EBITDA profit for the second quarter is a $2.2M improvement over $1.6M in Adjusted EBITDA loss in the second quarter of the previous year
• $1.2M of net loss for the second quarter is a $1.5M improvement over $2.7M of net loss in the second quarter of the previous year

“We are pleased that we have been able to maintain a consistent revenue stream and improved year on year results through the recent challenges in the financial markets. This consistency is a reflection of the underlying stability of our business and the strong relationships we have with our customers,” said Paul O’Donnell, CEO. “This is a strong foundation from which to grow as we continue to focus on bringing real business value to our customers and prospects through accelerated product development and innovation.”

Non-IFRS Measures

This news release includes certain measures that have not been prepared in accordance with International Financial Reporting Standards (“IFRS”) such as Adjusted EBITDA and Adjusted EBITDA margin which are used to evaluate the Company’s operating performance as a complement to results provided in accordance with IFRS. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful supplemental information as it provides an indication of the results generated by the Company’s main business activities prior to taking into consideration how those activities are financed and taxed and also prior to taking into consideration asset depreciation and the other items listed below.

The term “Adjusted EBITDA” refers to net income (loss) before adjusting for share-based payment expense, depreciation and amortization, deferred share unit expense, restructuring costs, foreign exchange gain (loss), finance income, finance costs, and income taxes. “Adjusted EBITDA margin” refers to the percentage that Adjusted EBITDA for any period represents as a portion of total revenue for that period.

The term Adjusted EBITDA and Adjusted EBITDA margin are not measures recognized by IFRS and do not have standardized meanings prescribed by IFRS. Therefore, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similar measures presented by other issuers. Investors are cautioned that Adjusted EBITDA and Adjusted EBITDA margin should not be construed as an alternative to net income (loss) as determined in accordance with IFRS.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management to the financial services industry. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

NexJ Forward-looking Statement

Certain statements in this press release, including statements about the financial conditions, and results of operations and earnings, may contain words such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to”, “could”, “should”, “target”, “envision”, and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on the Company’s current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the Company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. The Company’s assumptions, although considered reasonable by the Company at the date of this press release, may provide to be inaccurate and consequently the Company’s actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) the future performance, financial and otherwise, of NexJ; (ii) the ability of NexJ to protect, maintain and enforce its intellectual property rights; (iii) the acceptance by the Company’s customers and the marketplace of new technologies and solutions; (iv) the Company’s growth and profitability prospects; (v) the estimated size and growth prospects of the CRM market; (vi) the Company’s competitive position in the CRM market and its ability to take advantage of future opportunities in this market; (vii) the Company’s ability to attract new customers and develop and maintain existing customers; and (viii) the demand for the Company’s product and the extent of deployment of the company’s products in the CRM marketplace. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.

The risks and uncertainties that may affect forward-looking statements include, but are not limited to: (i) our dependence on a limited number of customers and large project size; (ii) fluctuation in our quarterly operating results; (iii) our dependence on key personnel and our compensation structure; (iv) risks associated with managing large and complex software implementation projects; (v) uncertainties and assumptions in our sales forecasts, including the extent to which sales proposals are converted into sales; (vi) risks associated with our ability to design, develop, test, market, license and support our software products on a timely basis; (vii) market acceptance of our products and services; (viii) commercial success of products resulting from our investment in research and development; (ix) our success in expanding sales into new international markets; (x) competition in our industry; (xi) failure to protect our intellectual property or infringement of intellectual property rights of third parties; (xii) reliance upon a limited number of third-party software products to develop our products; (xiii) defects or disruptions in our products and services; (xiv) currency exchange rate fluctuations; (xv) lengthy sales cycles for our software; (xvi) general economic conditions; (xvii) failure to manage our growth successfully; (xviii) failure to successfully manage and integrate acquisitions; (xix) breach of our security measures and unauthorized access to data; (xx) employee retention and (xxi) litigation, including commercial, product liability, employment, class action and other litigation and claims.

For additional information with respect to risks and other factors which could occur, see the Company’s most recently filed Annual Information Form for the year ended December 31, 2019 dated March 26, 2020, and other securities filings with the Canadian securities regulators available on www.sedar.com.  Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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The post NexJ Systems Reports Second Quarter 2020 Results appeared first on NexJ Systems.

New independent Director, William F. Morris elected to the Board

William F. Morris to Chair Governance and Human Resources Committee

Toronto, ON (June 29, 2020) — NexJ Systems Inc., (TSX: NXJ), delivering intelligent customer management solutions to the financial services industry, today announced changes to its Board of Directors, including appointing E. Scott Beattie as independent Chair of the Board succeeding William M. Tatham effective June 25, 2020.

William M. Tatham, Founder and former CEO of the Company who was appointed as non-independent Chair of the Board of NexJ in June, 2018, has chosen to stand down as Chair of the Board so that he can focus on his growing responsibilities as Founder and Executive Chair of NexJ Health Holdings Inc.  Mr. Tatham will continue to serve as a Director of NexJ.

“It has been a privilege to serve as Chair of the Board of NexJ and I look forward to providing my full support to Scott as the incoming Chair,” said William M. Tatham. “Scott’s significant capital markets experience will greatly benefit NexJ as we continue to execute our business objectives and enhance value for all NexJ shareholders.”

“On behalf of our shareholders and the Board, I would like to thank Bill for the leadership and contribution he has made as Chair of the Board.” said E. Scott Beattie. “I am very proud to have been asked to succeed Bill and I am excited to support NexJ as it seeks to build success for shareholders, customers and employees.”

As a result of the appointment of an independent Chair of the Board, David Yach will no longer serve in the position of Lead Independent Director.  Mr. Yach will continue to serve as Chair of the Audit Committee of the Board.

Addition of New Independent Director

At the Company’s annual meeting of the shareholders held on June 25, 2020, William F. Morris was elected to the Board. Mr. Morris is the former President of Accenture Canada and his extensive business experience will be of great value to both the Board and the NexJ executive management team.

Committee Leadership and Composition Changes

The Board has made changes to the leadership and composition of its Board committees effective June 25, 2020:

• Governance and Human Resources Committee (GHRC): William F. Morris has joined and succeeded K. Ian McPhee as Chair of the Committee and the GHRC is composed of William F. Morris (Chair), E. Scott Beattie, K. Ian McPhee, and David Yach.

• Audit Committee: William F. Morris was added as a new member of the Committee and the Audit Committee is composed of David Yach (Chair), E. Scott Beattie, K. Ian McPhee and William F. Morris.

About NexJ Systems Inc.

NexJ Systems provides Intelligent Customer Management. Our award-winning CRM is designed to help Wealth Management, Private Banking, Corporate and Commercial Banking, and Insurance firms revolutionize their business. Powered by artificial intelligence, our products help drive productivity, boost client engagement, and increase revenue. With users in over 60 countries, our customers benefit from our deep expertise across financial services verticals, strategic investment in innovation, and commitment to their success.

Based in Toronto, NexJ has clients throughout North America, Asia Pacific and in Europe. For more information about NexJ visit www.nexj.com, e-mail info@nexj.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, or like us on Facebook.

The post NexJ Announces Board Changes appeared first on NexJ Systems.