Questions are welcome throughout today's presentation, and we will address those at the close of the session coordinated by Sam Wells at NWR. Research analysts can raise their hand via Zoom to ask a live question, while all other attendees are encouraged to submit questions using the Q&A function. Today I want to start with a simple question. Why are physicians increasingly switching to Saluda? Why do we believe that this momentum can continue? The answer starts with our technology, but ultimately it shows up in our commercial and financial performance. At Saluda, we believe the spinal cord stimulation industry has lived with two fundamental problems for decades. The first is durability. Many patients initially respond to therapy, but maintaining outcomes over time has historically been more difficult. When outcomes degrade, physicians spend time reprogramming patients, and eventually some patients abandon the therapy entirely. The second is economic. Traditional SCS can require significant ongoing support from field organizations. That creates substantial non-revenue-generating activity and limits the scalability of the commercial model. Our technology is designed to address both of these problems. We believe our clinical outcomes remain among the strongest in the industry, highlighted by 83% pain relief response at 36 months, and no explants for loss of efficacy in the Evoke clinical trial. At the same time, our closed-loop therapy and EVA automation significantly reduce the reprogramming burden associated with managing patients. What makes this story particularly compelling is that those clinical advantages are now increasingly translating into commercial advantages. Revenue growth accelerated throughout fiscal 2026. We have been successfully scaling our U.S. commercial organization, and gross margins continue to expand. Despite that progress, we remain at only 4% penetration of the U.S. physician universe. As many of you know, I joined Saluda after helping build Dexcom. What attracted me to Saluda was the same type of technology disruption I saw in continuous glucose monitoring. Our conviction remains that physiological closed-loop therapy has the potential to redefine the standard of care in spinal cord stimulation. Fiscal 2026 was a year of accelerating growth, commercial scaling, and portfolio expansion. Revenue accelerated throughout the year, with U.S. revenue growth exiting fiscal 2026 at 45% in the fourth quarter. We substantially expanded our commercial organization while continuing to improve physician productivity. Importantly, we exceeded every major operating metric included in our IPO prospectus, including revenue, gross margin, adjusted EBITDA, and operating cash usage. We also achieved a major strategic milestone with FDA approval of our CAP24 lead, opening an entirely new portion of the SCS market that was previously inaccessible to Saluda. Finally, we launched EVA globally, and today the vast majority of patients are programmed utilizing our automation. Taken together, fiscal 2026 was a year where we executed across commercial growth, product innovation, and operating performance simultaneously. Before discussing our technology specifically, it is worth briefly revisiting the market opportunity. Despite being an established therapy with reimbursement, physician awareness, and a decades-long clinical history, spinal cord stimulation remains significantly under-penetrated. Approximately one in four American adults suffers from chronic pain. Yet only a very small percentage of patients who may benefit from SCS ultimately receive therapy. In our view, that gap exists because historical technologies have not consistently delivered what patients and physicians need. They want durable outcomes. They want predictability. They want ease of therapy management, and they increasingly want objective data. We believe technologies that solve those issues have the potential not only to take market share, but also to expand the overall category over time, and that is the opportunity that we are pursuing. This slide illustrates what makes our technology fundamentally different. Traditional SCS systems deliver stimulation, but they do not directly measure the physiologic response occurring in the spinal cord. Saluda's Evoke system does. With every pulse delivered, our system measures neural activation using ECAP technology and automatically adjusts therapy to maintain a consistent target response. A useful analogy would be a thermostat. The thermostat works because it measures temperature and continuously adjusts to maintain a set point. Our system operates in a similar way. By measuring neural activation continuously, we can maintain a personalized therapeutic dose even as patients move, change posture, or go about their daily lives. This objective physiologic measurement is the foundation for everything else we will discuss today. It is what drives the clinical outcomes. It is what drives lower programming burden. Ultimately, it is what creates the commercial and economic advantages embedded throughout the remainder of this presentation. One of the clearest examples of that advantage is shown here. Historically, reprogramming has been one of the largest burdens in spinal cord stimulation. Patients frequently require multiple visits each year to optimize therapy, consuming physician time, patient time, and significant field resources. Our commercial experience continues to demonstrate dramatically lower programming requirements. After the initial therapy optimization period, commercial patients average less than one programming visit per year. That matters for three reasons. First, it improves the patient experience. Second, it reduces burden on physicians and clinic staff. Third, it changes the economics of the business, because every hour a field representative spends performing reprogramming is an hour not spent helping physicians evaluate new patients or growing territory revenue. This programming advantage becomes an increasingly important commercial advantage as scale grows. That leads to EVA. At Aspen and other major conferences over the past year, three recurring themes have emerged: automation, artificial intelligence, and remote patient management. We believe Saluda is uniquely positioned across all three areas. EVA automates much of the programming process by leveraging data collected across thousands of patient interactions. The vast majority of new patients are now programmed using EVA. Importantly, EVA reduces dependence on individual technical expertise, simplifies onboarding of new field personnel, and improves consistency across the organization. One physician recently described EVA by saying, "Now every rep becomes your best rep." We think that that is a very powerful statement. Because EVA is not only improving patient outcomes, it is also accelerating commercial scalability. As you will see throughout the rest of today's presentation, many of our future growth opportunities and productivity gains are built upon this automation foundation. With that overview of the technology, I will now hand the call over to Jim. Thanks, Barry. Turning to our fiscal 2026 performance. Fiscal 2026 concluded with our strongest quarter since commercialization. in fiscal 2026 Q4, total revenue increased 43%. U.S. revenue increased 45%. U.S. patient implants increased 50%, and international revenue increased 39%. Importantly, commercial momentum was broad-based. Active implanting physicians increased 22% in the quarter, while total implants increased 50%. That tells us growth is coming from both physician activation and an increase in utilization rate among existing and new physicians. We also continued making progress in the high-volume ASC channel and continued to see strong demand internationally, particularly in Europe and Australia. Overall, we exited FY 2026 with accelerating growth and strong momentum entering FY 2027. Turning now to our FY 2026 financial results and FY 2027 guidance. FY 2026 revenue reached $90.2 million, up 28% versus the prior year, and approximately 4% ahead of our upgraded guidance. Gross margin improved 230 basis points to 48.9%. Adjusted EBITDA and operating cash usage both exceeded prospectus expectations. For FY 2027, we are guiding revenue to $113 million- $122 million, representing growth of 25%-35%. We also expect further gross margin expansion to a range of 50%-52%. The key takeaway from this slide is that we believe FY 2027 will begin to show meaningful operating leverage emerge. Based on our guidance range, we expect approximately 90% of incremental gross profit dollars generated during the year to flow through to improved adjusted EBITDA. This reflects the combination of revenue growth, continued gross margin expansion, and improving productivity across the commercial organization. In our view, FY 2027 represents an important step toward demonstrating the leverage potential of this business model. It is also worth noting that FY 2026 international growth benefited from favorable foreign exchange movements and approximately $1.3 million of cumulative revenue associated with the revenue recognition related accounting transition in Europe mentioned in past quarterly reports. While we remain optimistic about our international opportunity, these factors create a more challenging comparison entering FY 2027, and as a result, we expect more of the reported FY 2027 growth to be driven by continued execution in the U.S. market. Without foundation, I'd like to spend the next few minutes discussing the growth opportunities that underpin our guidance and long-term outlook. This slide summarizes the four primary growth drivers we believe are available to us. First, continuing expansion into new territories. Second, increasing utilization within existing physicians. Third, launching new products. Fourth, entering new channels. What is particularly attractive about our current position is that all four drivers are active simultaneously. We continue expanding territory coverage, existing physicians continue increasing utilization, the CAP24 paddle lead is just launched, and high-volume ASC adoption is in the early stages of development. Importantly, these growth opportunities are layered on top of a business that already delivered 28% growth in FY 2026 and exited the year growing at 43% in Q4. Turning first to sales force expansion. FY 2026 represented a significant investment year for our commercial organization. We expanded the U.S. sales team from 127 to 161 personnel, while also significantly increasing the number of fully trained representatives. Today, approximately 60% of our field organization is fully trained. Importantly, we are transitioning from a period focused primarily on expansion to a period increasingly focused on productivity. We will continue adding resources to the commercial organization, but at a slower pace than fiscal 2026. The opportunity now is to leverage the infrastructure we have built and continue driving productivity from a more experienced organization. At the end of FY 2026, we had 311 active U.S. implanting physicians in fiscal Q4. That represents only approximately 4% penetration of the estimated U.S. SCS physician universe. In other words, more than 95% of the opportunity remains ahead of us. At the same time, physician utilization continues increasing. The average number of patients implanted per active physician has continued to trend upward. That means growth is being driven by two important factors. More physicians adopting Evoke and existing and new physicians using Evoke more frequently. With the addition of the CAP24 paddle lead, we also expand our offering into approximately 2,100 neurosurgeons and orthopedic surgeons who historically have not been accessible to Saluda. Turning to product innovation, one of our objectives is to establish Saluda as the innovation leader within spinal cord stimulation. Beyond EVA, we have multiple product initiatives in development designed to support both growth and profitability. The CAP24 paddle lead expands our market reach today. Our next generation IPG is expected to improve both patient experience and manufacturing economics. Our next generation leads target meaningful cost reductions and improved physician usability. Longer-term, remote patient management has the potential to create entirely new ways to leverage objective physiologic data. We do not view innovation as a one-time event. We view it as a continuous process that creates patient, physician, and economic advantages over time. Our CAP24 paddle lead represents one of the most significant growth opportunities currently available to Saluda. Historically, all of the growth we have delivered to date has come from the de novo percutaneous portion of the SCS market. Even within that segment, we believe we remain in the early stages of penetrating the higher volume physician-owned ASC environment, which continues to represent an important growth opportunity for us. Before we even discuss the CAP24 paddle lead, it's important to recognize that we see meaningful runway within the market segments we already serve. The approval of CAP24 expands that opportunity further. Historically, our business addressed the percutaneous segment of the market. The CAP24 paddle lead allows us to enter the orthopedic and neurosurgical paddle segment, representing approximately $670 million of annual U.S. revenue opportunity that was previously inaccessible to Saluda. Importantly, this is not a new therapy platform. It is the same closed-loop technology and clinical differentiation delivered through a paddle lead format preferred by many surgeons. It also allows us to leverage much of the existing commercial infrastructure we have already built. Looking beyond paddle leads, we also see a longer-term opportunity in the replacement segment of the market. Today, there are many patients implanted with competitive systems who remain dissatisfied with their therapy. Over time, we believe Saluda has an opportunity to selectively target those patients as physicians become increasingly familiar with the durability and consistency of closed-loop therapy. When we think about long-term growth opportunities ahead, we see all three segments as future opportunities. Taken together, we believe these opportunities significantly expand the runway available to Saluda over the coming years. Turning now to gross margin. We improved gross margin to 48.9% during FY 2026 and expect further expansion to between 50% and 52% in FY 2027. Looking beyond FY 2027, we continue to see a clear path toward gross margins in the mid-60% range. Approximately 70% of our cost of goods sold resides within the IPG and lead systems, so that is where we have focused our engineering efforts. Our next generation IPG and next generation percutaneous leads are specifically designed to address the largest cost elements within the system while maintaining the clinical differentiation that drives adoption. Both projects are well progressed in their development, and their submission to the FDA will be key milestones for the company. Combined with procurement improvements, supply chain initiatives, and increased scale, we continue to see a clear pathway towards substantial long-term margin expansion. The final piece of the operating leverage story is shown here. Historically, profitability has been challenging across the SCS industry, despite attractive reimbursement and procedure economics. The reason is not pricing. The reason is the substantial ongoing cost of management therapy. Our lower reprogramming burden and EVA automation fundamentally change that equation. Reps spend less time servicing patients and more time generating new business. As territories mature, productivity increases and territory economics improve. We believe over the long- term, we can achieve a U.S. sales force at scale in which the cost of the sales rep supporting each territory is reduced significantly from current levels and can support a path to profitability. Even with the recent investments in new salespeople in the U.S., approximately 30% of U.S. sales territories exiting our FY 2026 were already operating below a 40% people cost to revenue ratio. We believe the success of some of our more tenured salespeople is an indicator of the potential future leverage we have ahead of us, as it is already beginning to emerge in the business today. With that, I'll hand things back to Barry to close things out. Great. Thanks, Jim. I'll close with two key observations. First, we believe Saluda is solving the biggest clinical challenge in SCS. That is maintaining durable outcomes over time. Second, we believe Saluda is solving one of the industry's most significant economic challenges, the cost and burden of managing therapy. Those advantages are increasingly showing up in our commercial performance. Growth accelerated throughout fiscal 2026. We remain only approximately 4% penetrated into the physician universe, and CAP24 has expanded our addressable opportunity even further. Our objective is not simply to participate in the SCS market. Our objective instead is to redefine what physicians and patients should expect from SCS therapy, and we believe we are still in the very early stages of that journey. In closing, I'd like to say thank you for joining us today and for your continued support of Saluda Medical. We appreciate your interest and look forward to updating you on our continued progress throughout fiscal. With that, I'll hand the call back to Sam Wells for questions- and- answers. Great. Thanks very much, Barry and Jim. As a reminder, the audience may ask questions via the Q&A function at the bottom of your Zoom screen. Covering research analysts may raise their hands should they wish to ask a verbal question. We would kindly ask that the covering analysts please limit yourself to no more than two or three questions on today's session. We'll endeavor to get to all questions asked, in some cases, combining questions on the same or similar topic. We'll kick off with two pre-submitted questions. Firstly, "Just on revenue growth. You've delivered impressive full-year revenue growth through FY 2026, particularly over the past two to three quarters since IPO. What are the key factors you're focused on to drive growth in FY 2026, and could you anticipate further acceleration sequentially?" Yeah. Thanks, Sam. I'll take that one. Look, we were very pleased with our revenue performance in fiscal 2026, obviously closing at $90.2 million, up 28% year-over-year, and representing a $3.2 million beat to guidance. Over the course of the year, we saw U.S. quarterly growth accelerating. That's a clear demonstration to us that the execution of our commercial strategy is working. To be fair, that's what we expected, and that's what we laid out in our IPO prospectus. To your question, looking forward to 2027, there are four core growth levers. The first one is sales force maturation. A much larger proportion of our reps will become fully productive over the course of the year. Number two, continued physician adoption and training, and we've seen some really nice growth here over the last few quarters. The third one is deepening utilization from our existing implanting physicians, and we've seen a nice trend there also. Finally, as Jim mentioned, the recent FDA approval of the CAP24 paddle, that opens a new $700 million neurosurgeon channel that was previously inaccessible to our sales force. Again, we can leverage our existing sales force with these customers that were previously untouched. We exited the year with a lot of momentum, and we're off to a very solid start in our first two months in fiscal 2027. Great. Thank you. Next question on physician adoption versus utilization. "How much of the current revenue growth is being driven by new physician adoption versus existing physicians increasing the number and frequency of implants?" Yeah, that's a great question. I'd say both levers are active and pretty broadly balanced. Active implanting physicians were up 22% year-over-year in Q4. Clearly, new physician adoption remains a meaningful growth contributor for us. Then in terms of physician utilization, or in other words, implant frequency from existing physicians, this metric also grew approximately 23% year-over-year in Q4. The compound effect of both drivers is visible in our patient volumes, and U.S. implants in Q4 were up 50% year-over-year. Another important metric for us is new customer education. We had over 2,000 healthcare professionals attend a Saluda education forum in fiscal 2026. This was up 90%, nine, zero percent, year-over-year, and that top of the funnel build should feed adoption throughout fiscal 2027 and beyond. Really, the new physician adoption, in my opinion, reflects the growing belief that closed-loop therapy provides a significant improvement in long-term durable outcomes for patients, as well as lowering the post-implant burden on pain clinics. Then the increase in utilization, with our existing docs, that reflects the growing confidence that physicians have in our closed-loop technology and the real-world outcomes that they're seeing with their patients. Yeah, I'd say it's a balanced contribution from both of those levers, Sam. Great. Thanks, Barry. We'll just move to a few of the analyst questions. Just a reminder, please limit yourself to no more than two questions on today's call. The first is from Shane Storey at Canaccord. Shane, please unmute your line and go ahead. Good morning. Can you hear me? Yeah. Yep. We've got you, Shane. Oh, great. Yeah. Hi, Jim. Actually, my question, I only have one question, and it's for you. I'm struck by the leverage implied by the guidance, which seems to have reasonably flattish OpEx overall this year. Maybe my question is, if you could please just chat through how each of the three different expense lines might move underneath that. For instance, you're pulling back on R&D a bit to allocate more to sales and marketing, that sort of thing. Just if you could help there, please. Yeah, really good question, Shane. You're right. Picking at a point we made just earlier in the presentation that we believe we've got nearly 90% of the gross profit dollars that'll be able to drop down to the bottom line. To your point, that sort of implies a flattish operating expense. It really goes to something we talked about earlier in the calendar year. We did do a reduction in force back in December that did start to do some adjusting and right sizing of our non-commercial infrastructure. If you think about the G&A and the R&D lines, we actually think that those will have, in absolute dollars, some amount of decrease that will help offset the fact that we will. I did say, we did just talk about it earlier, we will be continuing to invest in the commercial footprint at a much slower rate than in 2026, but we will continue to increase there. There will be some increase in the sales and marketing, but that will be able to be offset a bit by some smaller spending lines in the other two areas. It is not that we are not continuing to invest there, but we did have some heightened amount of spend in the last year or so, combined with the impact of some of those reduction in force and adjustments that we have made over the last 12 months. Thanks. That is very clear. Last one from me is, it looked like from the gross margin outlook chart that you shared in the deck, looked like that the new IPG and leads are not really the driver of expansion this year in the gross margin. Perhaps, maybe just an update on your expected timing for those approvals. Yeah, really, again, good question, Shane. As we have said in the past and said today, obviously more than 70% of our cost of goods or the unit cost that we sell into any given procedure is really the IPG and the leads. We have got a new IPG and new leads, as we just mentioned, that are coming online. Those will dramatically reduce the unit costs. We said here earlier in the presentation, we expect a commercialization that will be sometime in that calendar year 2027 for the both of them. They are both well on their way in the product development cycle, and in that verification, validation kind of phase. There is always variability of exactly what that timeline looks like from an approval perspective. These will both be supplements to our existing PMA, so a minimum of 180-day review cycle. As you know, familiar in the med tech space, there is always some amount of back- and- forth with the FDA, and with the FDA's reduced staffing over the last 12 months, we are cautious in our expectations of what that timeline will look like. We are confident in our ability to put together a good submission and have confidence in the ultimate approval. The timeline of it is always something that is a bit variable when you are dealing with the interaction with the FDA. Thanks, Jim. That is it from me. Thank you. Great. Thanks, Shane. Next question comes from Melissa Benson at Barrenjoey. Melissa, please unmute your line and go ahead. Thanks. Thank you, team, for taking a couple questions. The first one was on the. It is following on from Shane's question around OpEx. The outlook for the fully loaded territory costs that you have kind of given there, and speaking to kind of 75% this year. Just help us understand a little bit of the numbers of how you got that. What is included in that fully loaded territory cost? Because if we think about the full sales and marketing line, if we split that out and try and back solve, is there, say, 2/3 of that that is actually territory costs and then a third that is supportive or excluded? Just help us, I guess, think about the math. Also, when we look at the graph moving forward, it is 55%-60% for FY 2027. Again, that implies a very flat or a very minor addition of reps. Just help on the math, please. Yeah. Look, I'll start with we were intentionally not trying to be super prescriptive in the message in the chart. We're trying to get at is when we talk about the cost of a territory, we talk about this internally with the team, we're really talking about the people cost that support the revenue. The cost of the sales reps and any support reps, their travel costs, benefits, the cost of really managing the day-to-day inside the territory. In addition to that, as you would know, a full sales and marketing line's going to include overall just sales management, the marketing support, all that professional education that we've talked about. Those are, of course, other parts of our sales and marketing spend. What we're really trying to get at is the way we think about this internally, which is it's a productivity metric at the end of the day. It's for every dollar of revenue we generate, what's the cost we need from the personnel that support that territory? The reason we look at it this way is this is how and what other competitors have failed at. Because of that reprogramming burden, you end up with a large need of people cost simply to support the patients that they're selling to and that they're implanting, but also the patients that have historically implanted. This is the number we think we can continue to bring down. We actually will be adding people to the sales force. Because so many of our sales force, call it 60%, at the end of FY 2026 are fully trained, that means another 40% are finishing their training, getting their quota, and really have very little to no revenue that they're driving yet. Today, we have a large amount of our sales force that it's a cost without a revenue dollar yet to it. A lot of this is just going to be the maturation of the sales force that we've got and that we've put in place, that will be starting to get their quota, start to drive productivity. That's why we'll start to see some sharp decline, is really because of how much of our sales force is so early in their tenure with the company. That's really the message we're trying to get across. The last point I'll say is on the slide, we tried to show the progress we've made thus far. While we have a lot of early sales reps, there is about a third of our sales team that if you take that people cost, that fully loaded people cost, there's about a third of our sales team that are already in a territory where they're already below the 40% threshold. We think we can get the whole field even further. That's just showing you that there is a third of the field that's really progressing to where we want to get. It's what gives us the confidence that over time we'll be able to start to move that number down even further. Thank you. That helps understand the split in that line. Second question was just around, I know Europe is less of the focus versus the U.S., but we did see Germany had a very strong uplift this year. Is there anything in particular you call out there, something in the German market is a little bit of a different dynamic sometimes to the rest of Europe, but I guess any color on expectations in Europe? Yeah. The one thing I will say is we did call out about $1.3 million of growth in the European business that was related to some timing differences of how revenue was recognized post-EVA launch. It is a little bit more of what I will call. It is real business that was sold, but the timing of how it was recognized got a bit accelerated. Trying to just indicate that there is some one-time revenue that will be a difficult comp as we enter into FY 2027. Really, most of that sits in the German entity. Frankly, the German entity was a real strong point for the European business. Our leader there has done a really nice job continuing to build a market there without having to build more resources. It is one of our bright spots. They also benefited from this accounting change. It is a bit elevated then from the underlying patient volume, if you will. Great. Thank you very much, Melissa. Next question comes from Thomas Wakim at Bell Potter. Thomas, please unmute your line and go ahead. Hey, thank you very much for taking the question. Just looking at the revenue guidance, 25%-35%. I was just wondering, are there any one or two factors in particular that you think might really determine whether you end up towards the top or lower end of that range? I am thinking about the speed of, say, the paddle lead rollout or sales force training or pricing. Any guidance or thoughts you can provide on that would be much appreciated. Thank you. Yeah, I will take a stab at that, and Barry may have some thoughts too, as well. I think you hit on one or a couple of those. One for certain, Thomas, I think you hit on is the paddle lead. We have been pretty open and clear about what an important opportunity we think that is for the organization. It is the same sales force, but a whole slew of physicians and a part of the market that exists. It is revenue generating, but we have not been accessing. That is a driver, but it is a process where that is a part of the market is a little bit more hospital-based than ASC based. It does sometimes have a value analysis committee process that can take a little bit longer. These are some of the unknowns. We are starting limited launch, as we have talked about. We will be moving to commercial launch here later this calendar year. The slope of that ramp and the speed of uptake as we enter into that market is one of the big variables that we think we have got a good line of sight to. We have built some, I think, positive expectations into our growth, but that, of course, will be one of the variables of where we land in that range. The other one is really a bit more of what I talked about in that newness of the field team. In the U.S. specifically, at the end of the year, 60% of our U.S. field team is on a quota, fully trained. That means 40% of them are finishing their training here in the first half and coming off quota. The slope of that curve, really, a lot of these reps that we brought on more recently, it will drive that leverage and the profitability at that territory level that we talked about, but it will also have an impact, I think, on where we land in that range. The business just brought on a lot of talent. We are really impressed with the talent. We are impressed with how they have come on board so far. Of course, that has a little bit of variability when you bring those people to market, and will the slope of their curve look the same or better than what we have historically done? Those are the things that we think we have got a good estimate around, but of course, those variations can impact how we ultimately finish. Thanks, Jim. Oh, sorry. Yeah. [crosstalk] Just to add to that, Thomas, I think the things that we're not thinking will have a big impact on whether we come at the lower end or the upper end of the range, pricing. You mentioned that, changes to reimbursements. We don't see those as variables. I think it's down to the quality of our execution. So far, in the three quarters being a public company, we've executed very well. I think that's a big factor. Then retention. We talked a lot about our sales force retention. We're very pleased with where we are right now, but we've got to continue to be focused on that. Look, I think the big variable is the paddle, and I've been doing this for a long time, and there's three certainties in life, death, taxes, and the inaccuracy of a new product launch forecast accuracy. It's just we're doing our best to model it, but it's a huge opportunity for us. I think we're very well prepared for it, but we'll know a lot more as we progress through Q1 and Q2. That's probably the biggest variability factor for us across 2027. Thanks very much. You've answered, to a degree, I think, my second question, which is around that trained sales force. You mentioned 60% are fully trained, with the 40%, I guess, still going through that training process. Can you just elaborate a little bit more on the timing at which that 40% are expected- Yeah. -to come online? Yeah, good question, Thomas. At its core, I will say, generally speaking, that training process is about a six-month process. By definition, this is going to happen in the first half of the year. It is more about how many of them were hired in either our fiscal 2026 Q3 versus Q4. It is mostly coming at the beginning of the year. We will, of course, be hiring new people. You always have some amount of turnover, so you will be backfilling. There will be some obvious churn in the sales force, as there always is. The people that are untrained today, the majority of those will be coming off here early in FY 2027. It goes right back to Barry's point, is can we keep good retention in that sales team so that we are not having to reset as much of any of the territories we have started to launch. That is why we are feeling good about that being part of our growth engine here as we enter into FY 2027. Great. Thank you very much, Thomas. I think with that concludes the Q&A session of today's results presentation. Maybe with that, I will just pass it back to you, Barry and Jim, if you have got any final closing comments. Well, just thanks again for everyone for participating and listening and supporting us. I think with our guidance for fiscal 2027, we expect to continue the great momentum that we saw over the last three quarters. As we said, there is a number of growth drivers that will continue to fuel our expansion in both the U.S. and internationally, and we feel very well-positioned, especially now with the new paddle product, in the hands of our sales reps to take advantage of what we think is still a huge unmet need in the SCS space. Ultimately, as we said at the very beginning, we have got a very strong conviction that we will redefine the standard of care for spinal cord stimulation with our physiologic closed-loop technology. We look forward to giving updates on our progress throughout the course of the year. Thanks, everyone, and thanks, Sam. Great. Thank you very much for joining today's Saluda Medical's FY 2026 Results Webinar. Enjoy the rest of your day. Thank you and goodbye.