We will reference certain non-IFRS financial measures. Although we believe these measures provide useful supplemental information of our financial performance, they're not recognized measures and do not have standardized meanings under IFRS. Please see our MD&A for additional information regarding our non-IFRS financial measures, including reconciliations to the nearest IFRS measures. I'd like to turn the call over to Pivotree CEO, Bill Di Nardo. Thank you, Jeff. Good morning, everyone. Thanks for joining us on our 1Q 2023 conference call. It seems like it wasn't that long ago we just did this. With me today is Mo, our Chief Financial Officer. Looks pretty great forward quarter. 1Q went as planned and was in line with expectations. The one thing I'm excited about is that the pieces of our strategy are coming together. We're pleased with how the business units are progressing, and we're really pleased with how our products are evolving and how customers are really taking an interest in those areas that we've been working on for practically well since the IPO. Now again, you know, I'm sure you're hearing it from everybody. On the economic climate. We'll talk a little bit about that, but overall, I feel pretty good about this quarter. Revenue is $ 25 million. That was up 2% from Q1 of last year. Last year we had a really strong Q1, and that was on the back of record professional service bookings. Now, we've talked about this just recently. This year, we're also coming off record bookings in Q4, as we said last quarter, a number of those bookings were much larger contracts than normal, and they're spread over multiple quarters. These are, you know, 4-quarter, 5-quarter type deals. As a result, revenue growth is gonna be modest despite the record bookings, what we've got is better certainty on future. One of the things again we've talked about, I think we're seeing it and in talking to our peers, we're also hearing, you know, consistency around this. Just longer timelines to get signatures on new deals. We expected this going into 2023, and I think this is gonna be the new normal this year. We remain on a critical path for many of our customers, and that has a lot to do with the systems that we implement for them and manage for them. It's really the backbone for their revenue and operations. Again, one of the great indicators our products are on the right track is our ARR grew 6% year-over-year. It's been pretty stable. We are transitioning project customers to recurring services. This also has a bit of an impact on timing. You know, we can finish a project, we can initiate and start another project, we have been having these conversations around converting from project basis to more of an outcome and recurring revenue orientation. That, you know, automatically creates a little bit more sign time. We're excited to see that transformation. That's really been part of this transformation we've been expecting and planning for, which is that switch to more productization, more outcome orientation, and less of a project orientation. I think the other thing we're benefiting from, particularly in some of our legacy businesses, is longtime managed service customers have been delaying migrations from older systems to new. These tend to be bigger capital projects. As we've talked about, those are under way more scrutiny than they used to be. If you can find ways of saving folks some money in the short term, you can delay even further those migrations to new initiatives. Overall, you know, when you look at the stability on the ARR, you look at the conversations we're having with customers around converting to recurring revenue and the larger multi-quarter projects that we've booked, it gives us confidence we're gonna be able to execute on our profitability goal this year. As we stated from day one, this year is about driving consistent, repeatable EBITDA. Q1 EBITDA adjusted was almost $ 1 million. We had a 270 basis point improvement from last year, and 300% growth year-over-year. Again, we're really pleased with we're doing what we said we were gonna do. We're focusing on bottom line. We're stabilizing and helping our existing customers, in a way that our revenue retention was good as well. We're having a good start to the year. I think one of the things I mentioned in my CEO letter that's worth talking about, that's just bookings, because I think we refer to that quite often as a good leading indicator. It's helpful to explain this quarter's bookings. Last quarter, Q4, we had a record. When we stated that that record was really based on a couple of very large multi-quarter contracts. If you take out the large multi-quarter contracts, they're still a bit of an anomaly. I think we're seeing more of them in our pipeline, there's more volatility around the timing of closes on those. We kind of think about those as spikes. If you look at our rolling four-quarter average, somewhere between $ 15 million and $ 17 million, particularly when you normalize out the big. We're quite comfortable that this quarter was right about our average. If we wanna start hitting some of those growth targets that we've talked about, that we're aiming for, you know, over the next three years, then we need to do better than our rolling four-quarter average. I would tell you right now that better is gonna come from the spikes. When those spikes become the new norm, I think you'll start to see us settle into the 20s. I wouldn't say that the 20s right now are the norm. I'd say our 15 is our rolling four-quarter average. Pipeline is great. It's healthy as it's ever been. In fact, it's the strongest it's ever been. We are again, seeing those delays. We're seeing more scrutiny, more CFOs, CEOs, and frankly, we've seen a couple now where private equity owners and major shareholders at board level are getting involved, particularly around capital decisions. I expect continued volatility around bookings, but I think we've got a great, healthy pipeline. I think for us, we've just gotta stay diligent and honest about the quality of that pipeline. One of the things you will find in an economy like this is you'll have customers that, you know, have the propensity to tell you it's coming and then it just doesn't. This is where we're gonna stay vigilant and make sure we look at the quality of that pipeline. Right now, we remain cautiously optimistic. Again, many of our service offerings present clients with cost savings opportunities while advancing their digital transformation journeys. One of the things we're combing through our pipeline looking at which of the initiatives and which of the opportunities actually represent cost savings for customers. We find those, if they're in year, those move quicker to close. Good start to the year. You know, good signs in our pipeline. Good quarter of bookings. I think, you know, the tale of the tape is gonna be this next two quarters on how this year is gonna shape up. We've talked about this repeatedly. We've got three business units. They've got full leadership teams. Admittedly, from an OpEx perspective, there could be some inefficiencies in running three BUs. We think we're getting great efficiencies from attention to detail, M&A opportunities, and very specific product development initiatives that are coming from this. We've also made them very accountable for their bottom line. These BUs are incentivized to find synergies, to find shared resources amongst them in order to increase their delivered EBITDA back to the company. We're seeing good operating dynamics between them, and each of these quarters, you know, where we're consistently producing EBITDA, it's coming from this group operating well. We've had a couple of really big deals that have landed that are cross business unit. This really is, you know, the definition of the future of frictionless commerce. It's not so much a BU-based approach, but more of an industry vertical approach, where customers are buying a complete solution. We've had a couple now that are closed and working through, and we've got a few more very large ones in the pipeline, where we're being asked to look at the entire ecosystem all at once. Again, that, you know, really bears fruit when these three business units behave as one with our customers. We did introduce the CaaS offering, which is Commerce-as-a-Service, which is timely right now. We are finding that customers are looking at, you know, potential to take project plus integrating a number of different service providers and turning that into a monthly recurring as a great way to, you know, convert capital-intensive projects to a more spread out and a longer cycle for them, which manages to their budget needs right now. Again, CaaS is getting some good traction. We're getting, you know, great conversations with customers on it. Data management continues to be a clear strength. If anybody watches our social media, we had an amazing couple of weeks recently at a number of our partner conferences, winning awards with Stibo and Informatica, being on stage and being able to present some of our product innovation, which is going over really well. We were really fortunate a number of customers got on stage with us, including Psycho Bunny, Grainger, ABC Supply, all great brands and demonstrating the power of our Guide machine learning platform. Generative AI is it's an extremely exciting technology, and I hesitate because it feels like the entire planet is now talking about Generative AI and ChatGPT in particular. What I'll tell you is, we've practically applied it already now. It's in our workflows. We are using it for customer cases, and we are finding great synergies with our other machine learning. I think, you know, the difference between us and maybe some of the other people who are talking about it, we've been talking to you and our customers about machine learning and its practical application in our workflows for a couple of years now. This is just another tool to us, and it's a tool that's synergistic with our existing toolset and our existing workflow, and we're seeing immediate efficiency. We're actually really excited about the potential to work that into more of our workflows. We also have a team that knows how to use it, and I think that's another important factor. This is foundational. I mean, if you look at the kind of work, and the automation and the amount of time savings, quality improvement, and just overall acceleration, this is going to be game changing and certainly in the data industry. I think really all that's happening right now is while we've talked about it was hard to explain it or demonstrate it. Things like ChatGPT are just making it more accessible to the common person to see what its potential is. I think our technology providers and our business solution providers, have been using tools that aren't dissimilar and getting these kind of efficiency gains. I think the whole world sees it now and wants to take advantage of it. In supply chain, we're seeing really strong interest with our WMS. This is our warehouse management system and our Control Tower. We've completed 16 of the microservices. There's another seven coming online this year. That product is getting really close to being fully complete. The component parts are all sellable. We've had a number of customers now start to pilot it. Along with the legacy customers, I think we've talked about this in the past. We're already running about 500 warehouses for customers. It's the new systems that we're getting more excited about the efficiencies that they can enable. We're actually gonna be hosting a product day on 23 May We're excited to be sharing more of the developments in our IT across all of our business units and some of the interesting work we're doing with AI. Again, we're continuing to improve the way we talk about, and we're really trying to shift away from tell about our products to actually be able to show them and demonstrate them. I'm excited about the progress we've made since we did the same thing last year. Overall, a great quarter. Really excited about what the team's doing on products. And, you know, just cautiously optimistic. I think anybody that is overly optimistic in the face of this economy would be naive. We're trying to balance our enthusiasm and our optimism, with what we think is gonna be a little bit of turbulence over the next three quarters. With that, I will. You know what? I'll spend 1 minute on EBITDA. I think this is one last important topic because we've talked about this for a year. We produced our first solid quarter in Q1, and a first Q4, now we're doing it again in Q1. From a capital allocation, from the work we've done over the last, you know, couple of years, you know we've added great businesses. We've done M&A well. That's converted into good revenue growth, and most importantly, that's got business units that are all contributing EBITDA. You can kind of see the pattern, right? We bought them, we integrated them, and now we're focused on more profitability. We're gonna continue to maintain our discipline around M&A because we've seen what we can do with companies to produce EBITDA. We're being really cautious about acquiring anything that would be a drag on EBITDA. You know, part of the challenge in this kind of economy as well with lower valuations, if you're producing cash, you're not in a rush to sell. It's about trying to find the right balance. Finding good companies either close to cash flow positive or cash flow positive that we think under our guidance can shift and start contributing to what is our growing bottom line. I think we've positioned ourselves well for organic growth. We've got cash on the balance sheet that will allow us to buy. With EBITDA, we've also created that, you know, again, confidence if we need to tap into our credit lines, we will, but again, only for EBITDA positive or very soon to be EBITDA positive businesses. I think this chart really demonstrates, you know, what we've been able to do over the last couple of years. For us, it's about creating long-term shareholder value, be managing those KPIs, you know, consistently grow this and continue to improve our gross margins and not take on undue risk. I think this year is about the year of who blinks first. We're not gonna be the ones to blink. I think we're in a great spot. We're gonna do our best to take advantage of this year. You know, despite all the challenges, I think those challenges are gonna represent opportunities for us. Pass it over to Mo. Great. Thanks, Bill. 1Q of 2023 revenue was seasonally down from Q4 as we expected, and we had communicated in our previous calls. The impact wasn't as pronounced. We were able to offset some of the seasonal impact we expected by extending some of that spend into this part of the quarter. Professional services revenue declined by 4.3% year-over-year for the reasons that Bill mentioned, as it relates to new bookings and conversion of our pipeline, which is taking in the corner of longer cycles now. Although we're seeing some of the project revenue come to an end, we are seeing our managed services continue to expand overall across our existing and new customers, which contributed to the 12% year-on-year growth. Horizontal churn was less apparent in our numbers and in some cases continued to extend its life. That's contributed positively to our results. There were some customers coming off legacy platforms. It was more than offset by some of the growth we were able to deliver in managed service. Net revenue retention was 95%, and greater stability in this metric is again a reflection of less legacy revenue churn and the improved stability and growth we are seeing on the managed service revenue line. Move to the next slide, Bill. Onto the PNL. Gross profit margins improved to 46.2% from last year's 42.6%. Managed service growth was 53% and up from 52% in the most recent quarter. Improvements in our margin profile quarter-over-quarter and the year-on-year on the, on our relative. Professional services gross profit margin was 41% versus 40% in the most recent quarter. We tracked much higher than that in other TS-based businesses. A key factor in our gross margin that provides room for a further upside is our investment in bench capacity and also the use of Pivotree IP to further drive down the dependency on labor. Over 20% of our data projects are leveraging Pivotree IP, including those that you've heard of, Guide, Natalie, Control Tower. As we continue to leverage this, more of our automated products and tools and manage the utilization rate and investment in bench, we see a path to improving gross margins to 50% and beyond. Our operating expense was at $ 12.8 million, similar to that of the most recent fourth quarter of 2022, and we plan on continuing to manage our OpEx to drive our commitment to positive EBITDA trajectory. Adjusted EBITDA was $ 0.8 million, improved by 270 basis points from prior year and grew more than 300%. Our adjusted free cash flow was positive $ 300,000, and our net loss improved by $ 1.9 million year-on-year. Moving on to the balance sheet and cash. The primary use of cash in Q1 was related to the working capital charges changes that are seasonal in nature and came in better than typical for the 1Q of the year. We had better working capital results as certain changes shifted to the second quarter. For comparison, typically in Q1, we see a $ 4 million negative working capital impact, we saw an improvement of over $ 101.5 million in Q1. With the positive EBITDA and operating cash flow improvements that you've seen, we ended the quarter with $ 15.8 million in cash, we have not tapped into our $ 25 million credit facility. As Bill mentioned, with improved cash flow performance and continued focus to optimize it, we are now more than inclined to leverage our credit facility if the right asset becomes available, providing us with over $ 40 million of total capital available. We think our patience will continue to pay off as we pick up transformational assets like we did in 2021 and deliver compelling results that penetration the bottom line. I'm going to turn it back to Bill now for a closing summary. Thanks, Mo. We had a couple of questions come in. I don't know whether, you know, it's appropriate for me to answer or maybe I'll ask our analysts to chime in on it, but both the questions that came in were about our share price. I'm gonna avoid temptation to comment on share prices. Again I can't tell you why the market does what they do. I think oversimplification is it's supply and demand. If there's not enough demand, your share price doesn't go up. If there's too much supply, your share price goes down. You know, it's that simple. Why isn't there more demand? Why is there so much supply? That I can't answer the question for you. I think our analysts could probably give you some perspective. Being intellectually honest, I believe in this economy and this market, being a small cap, not highly profitable business or microcap to many, means you're not getting a lot of attention. We're gonna just keep our heads down, keep running the business. We believe we're creating value, and we think that value is gonna manifest over the coming years. Economies will change, demand will change as people wanna put more capital to work. I think the market will eventually look after itself. You know, I don't know that anyone can give you a definitive answer why stock prices do what they do. I think they can give you directional answers. We need to be bigger, we need to be more profitable for this market to care about us, and that seems to be a lot of the message that I get from the analysts that we work with. Frankly, we're not gonna let our stock price dictate how we run the business. We believe we're building a great business. We believe we have an opportunity to own the space around frictionless commerce, which we think is gonna be enormous. That's what we're focused on. The stock price will do what it does on our way to becoming an North American and world leader. From my perspective, it's about patience. Again, I invite our analysts, if you care to give, you know, some of the folks on the call some of your perspective, you know, please feel free to. We're applying UC at a lot more companies than I analyze on a daily basis. Let's just bring it home. You know, to thank Mo, first of all, because a lot of these benefits we're getting around our operating discipline, the improvements in EBITDA, that's Mo and his team and the general managers. Again, thanks, Mo, for the relentless work on finding efficiencies, driving up our utilizations, and delivering on our commitment to be EBITDA positive. To reiterate a bit of what he said, we entered the year with some good bookings. We entered the year with a path to profitable growth, and we're executing on that. We've got a strong backlog of bookings and a highly qualified pipeline, and we continue to add bookings at a healthy rate in a challenging environment. I think that's really a testament to the critical role we play in our customers' revenue-generating operations. We're really excited about the progress in B2B. I'm really excited about the products and the, and seeing them in action and actually fully appreciating what they're capable of doing for our customers. Again, I believe our foundation in data, and I've been saying this for the better part of two years, data and automation alongside some of these accelerated advancements in AI, it's making an incredibly exciting time to be positioned as a trusted partner in some of the world's leading B2C and B2B organizations who share our vision for frictionless commerce. We look forward to sharing more on the exciting developments we have on product front over the coming quarters. Ultimately, the real test is when those things start showing up with expanded MRR bookings and expanded MRR overall. I'm looking forward to the day when we show you rather than tell you. With that, turn it over to our analyst for questions. Thank you, Bill. We'll now take next questions from the analysts. As a reminder, to ask a question, please click on the icon to raise your hand. Actually, let's just go ahead with that. The first question comes from Rob Young, Canaccord Genuity. Rob, I think you're on mute. Okay. Now that I figured that out. Sorry. Okay. It's been a short time since last update. I mean, what, is there one or two things that, I mean, you'd highlight as the biggest difference from the last update? Just listen to your comments. I guess maybe a little more caution on the macro. You're saying there might be some turbulence manifest in, I think, maybe the pipeline or bookings. Is that the right way to think about it? I think the pipeline and, you know, we had a good conversation with our board. We've got lots of experience around the boardroom who, not to say they're old, but they've lived through some of these, you know, these types of economies before, they've seen the playbook. We've talked about pipeline. I think pipeline we've got to be careful with. Pipelines can get misleading. You know, when your bookings are getting delayed or pushed, inevitably your pipeline grows because people aren't taking things out of the pipeline. They're not saying no. It's just the delays in getting signatures. If those delays kick on too long, I think one of the things we're paying really close attention to, how long are they living in the pipeline? What's the sales cycle turning into? What's the average days? We're not reporting that yet, we're paying attention to it. I think that's the real test is it a good high-quality pipeline. Right now, the indications are yes. We believe the bookings are just slow rolling and delayed, that'll be the test. If they're sticking in the pipeline too long, I think we'll probably have to remeasure them. It's a bit like AR, right? If you get into 90 and 120 days, you start worrying about collectability. I think if you're getting into 9 and 12 months, you should start wondering whether that deal's ever gonna close. We don't have that right now. I think that's the risk this year. Okay. No cancellations that's good to hear. No. Last quarter you were talking about new logo activity. Maybe give us a little bit of an update there. Are you still seeing the top of funnel? You know, and understanding your comments about, you know, some of the longer duration features in the funnel, but how's the top of the funnel looking? Yeah. Again, I think it's a bit, it was a bit early in the year, you know, a month or two ago. If you'd asked me a month or two ago on the team, I think they were seeing some softness, all of our marketing activities kicked in, all these conferences started up, and we were out in front of customers demonstrating our capabilities. I think now the top of funnel with new logos has started to pick up. Our partners are seeing us differently. You know, this is the other important change. We are being invited into conversations that aren't just about the implementation of a piece of software, but taking advantage of that software in a different way. You know, the automation of the data pipeline that feeds that governance software as an example. It's different kinds of conversations at the top of the pipeline as well. That's hard to capture in, you know, simple metrics. Okay. Got it. The net retention, I think quarter-over-quarter, that declined a little bit. I'm trying to understand the moving parts there. Is that a delayed shift of the delayed turn or is it maybe a slowdown in expansion? Like maybe just help me work through the parts or pieces there. Yeah. Rob, a good portion of that was legacy hosting only riding part of it for a specific few years. We had acquired in the prior attending days. I think Oracle wasn't as prominent in that metric for us. There's more of the legacy hosting and general managed services that we had. Again, we purchased several hosting services prior to the acquisitions and prior to even Pivotree systems. Okay. Last question for me, just on gross margins the past going forward. You know, like to see the expansion graphs on that. The drivers going forward, I know a lot of this is mixed with managed services and the growth in the quarter was great there. VIP mix as well. Maybe just give us a reminder on, you know, where the margins are likely to go, and what are the drivers, and then I'll pass the line to someone else? I'm excited with what the team's doing around margins. I think some of around our existing and how we price for outcomes rather than just selling, you know, labor. I think that's shifting and You know, I'm expecting there's opportunity, upwards opportunity. I again, we made the statement in the last earnings that we see past the 50% and we're investing in a bench, and we're doing it because our pipeline is still holding strong. It's still holding at record levels for us that to, you know, get a great bench was the right decision for us. I think some of it will come in the next coming quarters to turn that into return, into revenue. The margin efficiency and the tools and solutions will continue to provide upwards on the managed services side. I'm optimistic, and I see the team working pretty hard from a great leverage for us to improve those metrics. Okay, thanks a lot. Thanks, Rob. Okay. Thank you. Our next question from Daniel Rosenberg from Paradigm Capital. Please go ahead, Daniel. Hi, good morning, everyone. My first question was around the pipeline, and you mentioned delays in, you know, signing orders. I was curious if there was anything to say, in terms of enterprise clients, versus some of the larger, let's say, mid-market. Is there any discerning difference that you see between the markets? Interesting question, because, you know, I've got one in mind in particular that the direct client we're dealing with, you would probably think of as a mid-market client, but their own, you know, there's a parent organization that it really is probably more large enterprise, and it's owned by a major capital firm sitting on top of it. Is it really mid-market? It's got disciplines now that look more like large enterprise. You know, it's a mid-market buyer, but it's a capital outlay that's big by its standards, so it's getting escalated through large enterprise type procurement. And I would say on all the big ones, and when we talk about big ones, you know, we are talking about substantial contracts now, multi-million dollar contracts. Most of those are living in very large enterprise, and most of those then come with much more complex procurement, including, you know, you sign the contract and then there's still kickoff processes to get those things moving. They're more complicated. They take a bit longer, but, you know, you're not renegotiating those things or you're not setting up new projects every 90 or 120 days. Once it's landed, you now have that capacity to move. Even the big ones we've signed have been slow rolling on, just the nature of the kind of large enterprise. That's the one thing I think you're gonna see different with us, is the bigger the companies, the bigger the first projects, the slower it takes to get them moving. Thanks. Appreciate that. I had a follow-up on the net retention revenue. I was wondering if there was anything to say if we were to dig down deeper versus some of the newer microservices that you're launching in terms of how the spending habits are trending from a retention type point of view. I know it's, you know, early days in some of these products. Anything to say about more digital offerings versus some of the legacy offerings? I think Mo probably has the best visibility into that. Yeah. No, I mean, if I look at our existing customers, the ones that are contributing to expand for us are those that sign up for the outcome and as their business grows, continue to sign us up for a different outcome. You know, it's never a... We don't have a pay per transaction type model, but it is driven by volume and activity. As you continue to drive efficiency improvements, especially some of our newer offerings, they continue to see the business value and the value prop. Us doing it through running it through our process, our technology, they're starting to realize that there's more that they could shift towards that model and can take benefit so they can focus on this. That's the real lever for us. You've heard kind of the data story, the guide story, putting them through our own technology products. They continue to get the client more excited, especially as they continue to learn how efficient that could be versus the current approach that they're applying. Outcome base seems to have triggered some positive discussion and momentum where they don't have to worry around the variability, and they're really gonna tie it to their business success and growth. Okay. Thanks for that color. My last question before passing the line was just around the seasonality. You know, you obviously go through it at the top of the year, but can you just remind us of the cadence, let's say in a normal year, putting aside the macro environment, you know, how does that generally flush out for the balance? Seasonalityality piece, I'd say that Q1 was, uh, didn't see the hit, uh, that we expected. So it was actually that Q1 was better than expected. I think we explained on the last call, Q4 and Q1 typically see somewhere between $ 700,000-$ 900,000 reduction, as I know we shared on the last call. That didn't materialize in Q1 as customers continued to keep their volumes and levels of services that we've been running in peak season. So that's something that's, yeah, has a bit of a delayed impact for us, but we've benefited for, well, from what we typically see in Q4, Q1. Just looking forward, could you just remind us on how to, you know, aside from macro and being conservative, but typically in a normalized year, do you see any of those changes other than Q4 to Q1? That's really the main seasonality. Yeah, that's the most material one, Q4 to Q1 from a managed services perspective. Professional services does take some capacity and holiday slowdown, typically without sort of how many other outside providers are there. I think there's the offset. Managed service builds up Q4. Professional services could potentially come down $ a few thousand with additional labor and capacity. Okay. Appreciate that. Nice to see the improving managed services as well. That's excellent. Thanks, guys. Thank you. I see none of our analysts wanted to rise to the challenge of explaining stock price, so I guess we'll let that one sit. Bill, I don't see any more questions, so I'll turn it back to you. That's great. Yeah, we really were just here 60 days ago. I don't think things changed dramatically in 60 days. I think we've been consistent in what we've been signaling. Again, I think a real credit to the operators and the organization. They're doing what they promised they were gonna do, and they're gonna keep doing it. I, again, I think I've sensed a high degree of optimism from our board all the way down. I just got back from India, from our people working on these things. They're excited about the products that are getting built. I think, you know, everyone has to recognize transforming from a professional services, managed services company to a product company comes with some challenges, right? You change the booking profiles and the revenue consumption profiles, those are all positive things. If we get our folks, our customers buying these products, our margins go up, our efficiencies go up, I think we become much more meaningful to our customers over a longer term. We're excited about the transformation we're going through, and I think the early signals are finally starting to bear out in the metrics. Yeah, stay tuned. You know, we got a few more quarters of this. I'm excited to see how this year unfolds. Thanks everyone for attending today, and we'll see you in what, 90 days, Mo? 90 days. Bye, everyone. Thanks, everyone. Goodbye.