Good morning, everyone. Before we begin the official remarks, here is the cautionary note regarding forward-looking information. Certain information to be discussed during this call contains forward-looking statements within the meaning of applicable securities laws, including, among others, statements concerning the company's objectives, the company's strategy to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Please refer to the cautionary statement and the risk factors identified in our filings with SEDAR+ for a more detailed explanation of the inherent risks and uncertainties that could affect such forward-looking statements. Following the presentation, we will conduct a Q&A session. I would now like to turn the conference call over to Tal Hayek, Chief Executive Officer. Good morning, everyone, and thank you for joining illumin's 2026 third quarter earning call. My name is Tal Hayek, co-founder and CEO. I will begin with an overview of the quarter, followed by some clear goals that I had when joining back in Q2, followed by an update on our platform and our priorities, and then turn it over to Michael Amaro, our Interim Chief Financial Officer, for a closer look at our financials. In Q3, revenue was CAD 42.7 million, driven primarily by the strong growth in our exchange business. Exchange revenue increased to CAD 25.5 million. We continue to see momentum in this part of the business, and it remains an important driver of our growth. Our DSP revenue was CAD 17.1 million, a slight decrease over Q3 of 2025, which was CAD 17.7 million. When I came back as the CEO in the beginning of Q2, I had a few clear goals. Number one is to stabilize and grow the DSP revenue. In 2025, the DSP business declined by 27%. It is now stable, and I will talk about how we are taking it back to growth. Number two was reduce and eliminate the cash burn. The restructuring we did in April has helped us reduce operating expenses by 6% year-over-year. We also seen positive progress in our cash burn, which was CAD 16 million in 2025, and this year declined from CAD 4.3 million in Q1 to CAD 1.2 million in Q2 to CAD 1.1 million in Q3. This is an important step as we work towards building a more sustainable business. The DSP margin rose by almost one percentage point in Q3 over Q2 of this year. We achieved that by eliminating some very low margins account from our system. The third quarter marked an important period of strategic progress for illumin, as we continue to position the company for its next phase of growth. We are actively reshaping our sales organization and go-to-market strategy across North America, Europe, and Latin America to improve execution, strengthen customer engagement, and create a more scalable commercial organization. For me, this is most important part of what we are doing, and this is how we're going to start seeing major growth on the DSP side. At the same time, we reached a significant product milestone with the beta launch of our AI-powered infrastructure across campaign creation, reporting, and optimization. A full release is planned for the fourth quarter. We also continue to strengthen our exchange business by expanding our platform publisher relationship and attracting additional demand. When it comes to AI, I just wanted to get into a little bit more explanation of what it is. So, in the old days, you would have to go into our system and create new campaigns. It would take time. You would also, after the campaigns were running, you would have to go and pull reports from the system, again, in a manual way. Today, you can just log into the system and speak to our AI agent that you can tell the AI agent, please start a new campaign for me. This is the budget. Here are the creatives. Go ahead and start it for me. You literally have a conversation with the agent, and the agent will set up the campaign for you. That saves a massive amount of time and requires much less knowledge on how to set up campaigns. After the campaign's running, you'll be able to go and talk to the agent and ask for specific reports. Again, you need less time and less knowledge about how to work the system because the agent is going to do it for you. So, we are very excited to see this launch and looking forward to see how people interact with it. Together, these initiatives reflect our commitment to building more differentiated, efficient, and competitive technology platform while establishing a stronger foundation for sustainable long-term growth and shareholder value. I will now turn the call over to Michael Amaro to share financial remarks. Thank you, Tal. Good morning, everyone, and thank you for joining our 2026 third quarter earnings call, which we reported earlier today. Third quarter 2026 revenue was CAD 42.7 million, representing 12% growth from CAD 38.2 million in Q3 of 2025. Exchange service continued its momentum and was a strong performer in the quarter. Gross profit or net revenue for the third quarter of 2026 was CAD 14.9 million, increasing 5% from CAD 14.2 million in Q3 2025. Similarly, gross margin for the quarter was 35.0% compared to 37.2% in the prior period. This represents the continued shift in revenue mix towards service lines with traditionally lower gross margins. Exchange service revenue for the third quarter increased 24% year-over-year to CAD 25.5 million, reflecting strong new customer acquisitions and augmented spend from existing clients, as well as expanded partnerships with publishers. Exchange's success continues to demonstrate the impact of the strategic investments we made over the past year, core technology enhancements, strengthened external partnerships, and expanded customer capabilities. Turning to self-service, revenue was CAD 8.6 million for the quarter, which was an increase of 3% compared to prior year, and represented 20% of total revenue. In managed service, revenue was CAD 8.5 million for the third quarter, a decrease of 9% compared to CAD 9.4 million in Q3 of 2025. Total operating expenses for the third quarter of 2026 were CAD 16.3 million compared to CAD 17.3 million during the same prior year period. The year-over-year decrease reflected lower sales and marketing, share-based compensation, and general and administrative costs that were partly offset by higher depreciation and amortization. The decrease in sales and marketing and general and administrative costs were mainly due to lower salaries, benefits, and bonuses from our cost containment initiatives that were undertaken in previous periods. The decrease in share-based compensation is attributable to forfeitures from a reduced workforce and a general decrease in share-based grants. By contrast, the increase in depreciation and amortization was attributable to a higher asset base from capitalized salaries. Q3 2026 operating expenses as a percentage of revenue was 38.2% compared to 45.3% in Q3 2025, and is down primarily as a result of the increased revenue and the restructuring initiatives the company has undertaken. Q3 adjusted EBITDA was CAD 1.1 million compared to CAD 0.2 million in the prior year period. This was primarily attributable to higher revenue and lower operating costs, partially offset by lower gross margins. Net loss for the third quarter of 2026 improved by 14% to CAD 1.8 million compared to CAD 2.1 million in Q3 2025. This year-over-year change reflects the higher EBITDA mentioned and lower severance and share-based compensation expenses, partly offset by a shift to a foreign exchange loss position. Net foreign exchange loss was CAD 0.5 million for the quarter compared to a gain of CAD 0.9 million for the same prior year period, reflecting the strengthening of the Canadian dollar against the US dollar in contrast to the weakening observed in prior periods. Effective December 31, 2025, the company commenced a normal course issuer bid, or NCIB, to purchase for cancellation up to 3.9 million of its outstanding common shares. As of September 30, 2026, 686,558 shares had been purchased and canceled under this program at an average price of CAD 0.85 per share, totaling approximately CAD 0.6 million. The NCIB remains open and can continue until December 30, 2026, or until we reach our targeted repurchase limit. The company did not purchase any shares in the third quarter to conserve cash in preparation for potential acquisitions, but may elect to do so in the future. We ended the quarter with CAD 30.3 million in cash versus CAD 43.8 million as of December 31, 2025. Cash was down in this period primarily due to investments to enhance our product platform, timing of working capital, common share repurchases, and lease payments, partly offset by foreign exchange gain on cash and cash equivalents. Compared to June 30 of 2026, cash was lower by CAD 3.4 million, primarily due to investments in our platform, timing of working capital, payments on leases, and a foreign exchange loss on cash and cash equivalents, partially offset by cash from operations before non-cash working capital. Excluding the impact of working capital timing, we generated positive cash from operations in Q3. Overall, the decline in our cash position this quarter reflects working capital timing differences and proactive operational investments rather than structural headwinds. We expect working capital movements to reverse over time to support stronger cash conversion in future periods. Turning now to our balance sheet. We ended the quarter with CAD 30.3 million in cash, no debt, positive adjusted EBITDA, and maintained our strong balance sheet to support our long-term strategy. We are taking additional steps to find further efficiencies in our business, to improve upon our liquidity, and to improve our financial flexibility to pursue selective, strategically aligned, and accretive acquisition opportunities that expand our capabilities and enhance shareholder value. While we have yet to complete an acquisition, we continue to see attractive opportunities and more rational valuations, and we will continue to evaluate them with a disciplined approach as we move through 2026 and into 2027. As of September 30, 2026, the total number of our outstanding common shares stood at 52,544,683 compared to 51,602,090 as of December 31, 2025. This increase reflects the exercise of vested equity instruments, partly offset by shares repurchased in Q1 2026. Shares on a fully diluted basis stood at 55,504,875 compared to 55,801,361 as of December 31, 2025. This decrease relates to forfeitures and lower grants associated with the reduced workforce. Additionally, our insider share ownership is at 34.4%. In closing, we remain optimistic after our third quarter 2026 results and look to better position ourselves for sustainable growth. We continue to see strong performance in our Exchange service line, and we remain committed to strengthening the performance of our managed service and self-service lines. Continue to look for opportunities to improve operational efficiency and remain disciplined with our capital allocation. Looking ahead, we are highly focused on optimizing our working capital, stabilizing cash flows to match our improved EBITDA trajectory, and are well-positioned to build on our progress and to strengthen our business over the long term. With that, I will now turn the call back over to Tal for closing remarks. Thank you, Michael. Looking ahead, our priorities remain clear: grow revenue, improve margins, and manage cost carefully. Exchange growth, lower operation expenses, and cash burn are encouraging steps, but increasing the DSP revenue and improving profitability remains the key priority. We will continue to build on this progress while advancing our platform and delivering value to our customers. Thank you to the illumin team for continuing efforts, and to our customers, partners, investors, and stakeholders for all their ongoing support. With that, I would like to open the floor for questions. Good morning, everyone, and thank you for joining today's presentation of illumin Holdings' third quarter financial and operating results. As there are no further questions, this will conclude our time this morning. My thanks to Tal, Michael, and a special thanks to our shareholders for attending. Please join us next time as we present our fourth quarter 2026 financial and operating results. Bye for now.
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