Morning, everyone. Welcome to Tecsys Fiscal Year 2027 first quarter results conference call. Please note that the complete first quarter report, including MD&A and financial statements, were filed on SEDAR+ after market close yesterday. All our amounts are expressed in Canadian currency and are prepared in accordance with International Financial Reporting Standards. Some of the statements in this conference call, including the question- and- answer period, may include forward-looking statements that are based on management's beliefs and assumptions. Actual results may differ materially from such statements. I would like to remind everyone that this call is being recorded on Friday, September 11, 2026, at 8:30 A.M. Eastern Time. I would now like to turn the conference over to Mr. Peter Brereton, Chief Executive Officer at Tecsys. Thank you. Please go ahead, sir. Thank you, and good morning, everyone. Thank you for joining us to discuss our Q1 2027 results. We are pleased to open fiscal 2027 with one of the strongest quarters in our history. Q1 delivered record bookings, in fact, the second highest bookings quarter Tecsys has ever recorded, giving us real momentum and visibility as we head into the rest of the year. The story this quarter was expansion. Our installed base, particularly in healthcare, continued to deepen its commitment to the Tecsys Elite platform, with existing customers substantially increasing their footprint with us. We are proud to count organizations like Prisma Health, UT Southwestern Medical Center, and a leading cancer treatment center among the health systems that expanded their relationship with Tecsys during this period, a strong signal of the trust hospitals place in our hospital supply chain platform as they scale their operations. At Prisma Health, South Carolina's largest private nonprofit health system, the expansion extends beyond initial deployments of our warehouse and pharmacy inventory systems to now include our hospital point-of-use technology across their network, giving clinical and supply chain teams greater visibility as they support 1.6 million patients a year across 19 hospitals. Healthcare was the primary driver of this expansion activity, but it wasn't the whole story. We also saw general distribution customers continue their migration to SaaS, including Rinchem, a large global distribution customer, and we added a notable new logo in Europe with a growing life sciences company, evidence that our platform resonates well beyond our core North American healthcare base. Turning to our SaaS metrics, Elite SaaS ARR and revenue growth continued to accelerate. Elite SaaS ARR grew 24% year- over- year or 22% in constant currency, and Elite SaaS revenue grew 24% in the quarter or 23% constant currency. This acceleration reflects both the strength of our SaaS-first strategy and the increasing scale of our Elite platform customer base. We also passed a significant milestone in Q1 with our remaining performance obligations, or RPO, crossing the CAD 250 million mark for the first time, reaching CAD 259 million, up 14% year- over- year or 13% in constant currency. RPO is a key forward indicator of the durability of our SaaS business, and this milestone underscores the growing visibility we have into future revenue. Our strong SaaS bookings and momentum in Q1 give us the confidence to raise our full-year fiscal 2027 guidance across the board. Mark will discuss the updated ranges shortly. On the product side, TecsysIQ continued to gain momentum in the quarter, helping customers turn supply chain data into faster, more confident operational decisions. We continue to invest in TecsysIQ's roadmap with a number of new AI-driven capabilities in early development that we look forward to sharing more about as they mature. We also continued to advance our FedRAMP program throughout the quarter as we work towards full certification. This progress reflects the broader investment we've made in our security and compliance posture, and it's given both public sector and enterprise healthcare customers greater confidence in Tecsys as a long-term trusted platform partner. We're also proud that our commitment to people and culture, including growth in our team in India, helped earn Great Place to Work certification for a third consecutive year across every country where we operate, with 91% of our employees telling us that Tecsys is a great place to work. That kind of consistency across every market we operate in is something we don't take for granted as we scale. With that, I'll turn it over to Mark to walk through the financial results and updated guidance in more detail. Thank you, Peter. As a reminder, our first quarter ended July 31st, 2026. Q1 was an exceptional quarter for Tecsys, highlighted by record SaaS bookings for a first quarter, record total revenue, and record Adjusted EBITDA. Total SaaS revenue grew 18% in Q1, reaching CAD 22.7 million, up from CAD 19.1 million in Q1 last year. That growth was about 17% on a constant currency basis. As Peter mentioned, Elite SaaS revenue, our core product and the predominant contributor to total SaaS revenue, increased by 24% compared to Q1 last year. That was 23% growth on a constant currency basis. Total SaaS ARR was CAD 93.7 million at July 31st, 2026, up 18% from the same time last year. On a constant currency basis, SaaS ARR growth was 17%. You'll notice that we've begun disclosing Elite SaaS ARR separately in our MD&A. This additional disclosure is intended to highlight the underlying growth trend we have discussed over the past several quarters and provide greater visibility into a key leading indicator of future SaaS revenue growth. Elite SaaS ARR was CAD 89.6 million at the end of Q1, up 24% year- over- year, representing 22% growth on a constant currency basis. As Peter mentioned, SaaS RPO was CAD 259.2 million at July 31st, 2026, up 14% from a year ago, or 13% on a constant currency basis. Professional services bookings were lighter, which brought our PS backlog down somewhat. As a result, we expect PS revenue to tick down slightly on a sequential basis in Q2. It's important to note that it's not uncommon for professional services bookings to follow SaaS bookings with a timing lag. As a result, the strong SaaS bookings in Q1 may not translate into professional services demand until later in Q2 or subsequent periods as customers advance through deployment planning and execution. Q1 fiscal 2027 total revenue was CAD 50 million, compared to CAD 46 million in Q1 last year. That is 9% growth, 8% on a constant currency basis. Net profit in Q1 fiscal 2027 was CAD 3.1 million, or CAD 0.21 per diluted share. That is up 306% from CAD 0.8 million in Q1 last year. Adjusted EBITDA was CAD 6.9 million in Q1 this fiscal year, up 113% from CAD 3.2 million same period last year. We ended the quarter with cash and short-term investments of CAD 35 million and no debt. Cash flow from operating activities was particularly strong, driven by profit and strong cash collections. During the quarter, we repurchased 17,400 shares for approximately CAD 0.6 million under our Normal Course Issuer Bid. That compares to 21,300 shares for CAD 0.8 million in Q1 last year. Finally, the board yesterday approved a quarterly dividend of CAD 0.09 per share. Moving on now to fiscal 2027 guidance. Based on strong Q1 Elite SaaS bookings, continued pipeline strength, and robust hardware bookings, we are raising our fiscal 2027 guidance ranges for Elite SaaS revenue growth, total SaaS revenue growth, total revenue growth, and Adjusted EBITDA margin. Our updated guidance for fiscal 2027 is as follows. Elite SaaS revenue growth of 21%-23%. That is up from 18%-20% in previous guidance. Total SaaS revenue growth of 16%-18%, and that is up from 13%-15% previous guidance. Total revenue growth of 5%-8%, and that is up from previous guidance of 2%-4%. Finally, Adjusted EBITDA margin, we are broadening the range and extending it on the high side to 11%-14%, and that is up from 11%-13% previous guidance. I will now turn the call back to Peter. Thank you, Mark. Record SaaS bookings, our second highest ever, accelerating Elite SaaS ARR growth of 24%, and crossing a CAD 250 million in RPO for the first time all point to real momentum as we open fiscal 2027. That strength gives us the confidence to raise our full year guidance, and we are excited about what is ahead. With that, we will open the call for questions. Thank you. Ladies and gentlemen, we will now begin the question- and- answer session. Should you have a question, please press star followed by the one on your telephone keypad. You will hear a prompt that your hand has been raised. Should you wish to cancel your request, please press star followed by the two. If you are using a speakerphone, please lift the handset before pressing any keys. One moment please for your first question. Thank you. Your first question comes from the line of Amr Ezzat from Canaccord Genuity. Please go ahead. Good morning, Peter, Mark. Congrats on the strong performance. Thank you. Peter, clearly a very strong bookings quarter. In your prepared remarks, you highlighted expansions, I believe, as the primary driver. I would like to know if you could give us a better sense of the mix between new logos and expansion. On the pipeline conversion side, did Q1 reflect a release of deals that had been delayed over the last couple of quarters? Or are you seeing broader acceleration in decision-making? On your first question, there's no question this quarter was heavily slanted towards expansions. It's been interesting for us, of course. We really have these three contributors to SaaS bookings. We have migrations from our old on-prem software, we have new accounts, and then we have expansions of customers that are already on our platform. We've seen over the last few years a dropping off, particularly over the last two years, a real dropping off of SaaS bookings coming from migrations from our base. We knew we had to sort of get over that. It's like it was this wonderful source of SaaS bookings, but eventually you run out of accounts to move across. Most of the early and mid-crowd have moved. There's really just a few laggards that are left. We know that's going to decrease, and certainly this quarter it was a contributor, but it was a small contributor. New account bookings are typically light in summer. Our year end is April 30th, so typically whatever is close to closing, we kind of push to get it closed for year-end. Then you got sort of May is kind of cleaned out by the April push. You got June to sell something, and by July, everybody's leaving on vacation. It's typically a tough quarter for new accounts, and this was no exception. It was light on new accounts. We did land one new account in Europe. That said, let me just finish on that thought. Whereas conversions, sorry, expansions, I should say, were widespread. We worked a number of deals, one larger deal, a wide variety of sort of small and medium-sized deals. It was a pretty exciting quarter from an expansion standpoint. Some of that, I think is partly driven by people understanding what TecsysIQ is going to do for them, and the fact that they have to sort of further roll out our underlying platform in order for TecsysIQ to have the data that it needs for the AI engine to operate. Pretty interesting there. From the standpoint of the overall pipeline, as you know, the pipeline really grew substantially a little over a year ago. It's continued to grow. It's up again over this time last year. We knew that at some point, that dramatically larger pipeline was going to start to break and convert to closed business. That's what seems to be happening. We saw some of the surge start to happen in Q4, continued with very strong Q1, and even now where we are in Q2, the activity level remains very high, and that is across new accounts and expansions from our base. Again, there's a small amount still in there that's migrations, but added up, we're probably talking well over 90% of the pipeline activity is a pretty even mix between new accounts and expansions of existing SaaS customers. Fantastic. Just on expansions, I asked you this a few quarters ago and wanted to revisit it. Among the IDNs that initially came to you specifically for pharmacy, have any expanded into your broader solutions? I don't think so yet. No, not yet. Okay. Am I right, Mark? I can't think of one. One of the expansions that we had this quarter was one that had purchased pharmacy, but they were also using other products as well. Yeah. Fantastic. I'll revisit in a few quarters. Just to close the loop on the non-core piece, by our math, Elite ARR increased about CAD 7.5 million sequentially, and the non-Elite ARR declined by roughly half a million. Is that the right way to think about the quarter, or is my math wrong? Are we now at a point. Go ahead. That's good math. Okay, fantastic. Right. Mark, while I have you, on the Q1 EBITDA margin, like 13.7%, already near the top of the new 11%-14% range. At Q4, you said the restructuring savings were fully embedded in your original guidance, but not all the planned reinvestment had happened yet. So when I'm looking at your Q1 numbers, should we expect any meaningful step-up in operating investment through the balance of the year, or is the quarter closer to the underlying sort of earnings run rates? Yeah, no, we're expecting to increase investment. We'll be doing some hiring pretty broadly across different functional areas. We're continuing to scale the business. I think that investment is going to be quite measured, but you will see an increase in investment in the quarters ahead this fiscal. Fantastic. Congrats again. I'll pass the line. Thanks. Thanks. Thank you. Your next question comes from the line of Gavin Fairweather from ATB Cormark. Please go ahead. Oh, hey, good morning, and congrats on the strong quarter. Maybe just circling back to bookings, just very strong, especially for a Q1, which is seasonally weak. I'm just curious what you attribute that to. Are you seeing just more buying intent or urgency in the base? Any kind of further color would be helpful. Yeah. First of all, Gavin, there is always a certain amount of lumpiness in our business, right? Just the sheer deal size relative to our size creates lumpiness, and I don't think that lumpiness is going to go away for quite a while. Some of it I would just attribute to normal lumpiness, if there's such a thing as normal when you're talking lumpiness. T he other factor is, in fact, we know our sales organization is getting much better at using the data out of the hospital networks to put together a return on investment prediction that can now be backed up with real-life stories from other accounts that have already done it. Once you get an ROI study in front of a hospital executive team that shows they're going to save CAD 200 million over the next five years by deploying our platform or whatever the number is, it's created some real urgency around it. Most of these hospital networks are now in a position where, politics in the U.S. continues to ebb and flow, and there's lots of different factors going on there. But the overall long-term trend is reimbursements are declining, and the population is aging, and doctors want to make more money every year, and nurses want to make more money every year. So there's only so many places they can go to save money and try to balance the cash flow picture, and much better management of supplies and drugs is a huge source of potential savings. M aybe, in fact, the primary source of potential savings. As we're getting better at data-backed ROI studies, we're seeing an across-the-board acceleration in pipeline. So we're continuing to invest in that. We've continued to build out the team that puts that together. We have a pharmacist, we have a nurse, we now have a part-time surgeon that's part of that team, as well as some good math and supply chain guys that work together as a team to build out these ROI studies, and it seems to be proving very effective. You talked about pipeline still growing year- over- year, but I'm curious if you grew it sequentially in the quarter, given the strong bookings. Yeah, we did. It actually continued to grow in the quarter in spite of the bookings that obviously came out of the pipeline. Awesome. Good to hear. Maybe just on FedRAMP, a few things, like maybe you can just update us on the timing and milestones to completion. Also curious if you've done any work to size up the TAM, and also curious for your thoughts on some of the political noise around the GSA this week, and whether that could impact opportunities out there. First of all, on your question about what's happening at FedRAMP. The FedRAMP process is underway. There's two main phases to FedRAMP certification. One is you work with a FedRAMP consulting firm to basically review, I don't remember the number, I think it's 491 processes and procedures and technologies that have to be reviewed to make sure they conform to FedRAMP standards. That work is done. We've produced the 900-page book that documents all that. We're now in the stage where there's a second company, which is considered a FedRAMP auditor, that's now in there reviewing everything we've done to make sure that it passes muster, and we are in that process right now. So assuming that process goes well, we expect that we will achieve full certification by late winter, early spring is where I would put it. We might be able to beat that by a bit, but right now, that's what it's looking like. In terms of the political noise going on and discussions around GSA schedules and so on, we do a small amount of business through GSA. But it's a very small amount of business, and we are also set up with a. We do quite a business in the U.S., so we have a U.S. subsidiary, Tecsys U.S. Inc. So it's possible that we may need to shift more contracts to our U.S.-based business. But we don't anticipate it being a problem. It may just be a change in which one of our legal entities does the contracting. Great. Then lastly for me, just on SaaS gross margins, can you update us on where those stand? When I look through your slide deck, it looks like you are still targeting 70% for this fiscal year. But when I dig through the services gross margin this quarter, it feels like you might already be operating there or within striking distance. So maybe just discuss where those are right now and the pace of gains for the rest of the year. Yeah. I will take that one. You want to take that one, Mark? Peter. Sure. Yeah, Gavin, you are right. We are very close to that level now. But we do have, as I mentioned on one of the prior questions, we do have some investment coming, so while we see some expansion opportunity from new bookings that are always accretive to margin, we do expect to continue some investment there in the current fiscal year. So we have got line of sight on that 70%. We are still holding our objectives on that number for the short term. Clearly, longer term, our eye is on a much bigger prize. Just by way of example there, these expansions that we have put on in this quarter, a lot of expansion dollars in the bookings, those are coming in at incrementally quite high. Quite high margins, 80% +. So there is definitely runway for continued expansion beyond this fiscal. Thanks so much. I'll pass the line. Thank you, Gavin. Thank you. Your next question comes from the line of Doug Taylor from National Bank. Please go ahead. Yeah, thank you. Good morning, and again, congrats on a very strong quarter to start here, as others have noted. Really one question area I'd like to get some color on. Given the sequence of events here with the initial guidance you provided and the new guidance you've given with these results, the primary question I'd still like to pin you to is a more specific answer on where the surprise was. It's been just over two months since you gave that guidance. You're most of the way through Q1 when it was provided. It's a good problem to have, but is it just pipeline conversion was well ahead of your initial assumptions? Did some renewals surprise you with increased scope? Just trying to get a handle on that. Any other thoughts there? Sure. I mean- Yeah, I mean, we had two- You want to take it, Peter? Sure. Go ahead, Mark. Yeah, really two main things there, Doug. One is on the SaaS side, and we talked about the big quarter, and we talked about the lumpiness, and we had line of sight to a very large pipeline coming into this year, and we weren't shy about describing that heading into this year. Pipeline velocity is always kind of hard to hit. You're never quite sure how fast that stuff is going to convert. Of course, if you book SaaS in Q1 versus Q3 or Q4, there's a massive difference on in-year revenue realization. Because I think, as you know, when we book SaaS in a particular quarter, in a particular month, essentially, most typically, the revenue starts almost immediately. We set up the platform, we make it available, we start the project, and start recognizing revenue. Pulling forward some of these targeted bookings that we were confident in the year, but less confident on early year timing. The fact that we hit that, pulled in a bunch of that SaaS, it has a pretty massive impact on the SaaS metrics. So that gave us great confidence, including the fact that we've got to still have a robust pipeline to support bookings in the outer quarters. But it gave us really good visibility on how much revenue we're going to realize for the rest of this year. T hose were Elite platform bookings, so that moved the bar on the Elite SaaS revenue growth. Then, as part of that, it also moves the bar on total SaaS revenue growth. The other thing that happened for total revenue, and we mentioned that in the prepared remarks and in the press release, we did have a really substantial amount of hardware bookings that came through in late Q1 and even into the early part of this quarter. W e've got really good visibility on the delivery timing of those hardware bookings. These are lumpy, and they're material enough that they're going to move the needle on headline revenue growth. So those are the two things that happened and why we were maybe a little bit, on the SaaS side, we were a little bit surprised by the timing. On the hardware side, it's just notoriously a hard one to call, and we didn't actually expect the level of bookings that we saw. I mean, fair enough, and we're all focused on the software side more so anyways. So I guess it brings me to the next question then. Given the pipeline you've got, which you've said continues to grow, you don't guide to ARR, but would your ARR assumption for the end of this year have moved positively as well? Or would you say this is more a timing of closure versus ultimate where you're going to end up the end of this year, that having moved much in your internal model? Yeah, that's a great question. For right now, I would say we're very quite confident in our initial objectives on where we wanted to land ARR at the end of this year. There's still several quarters of bookings left to do to get to that number. But I would say our level of confidence in our models has definitely risen substantially. I don't know that I would start to call over-performance on our own internal targeting there, but we'll see. The pipelines are big and very active. I don't know if that's the kind of color you were looking for, but that's how I would couch the remarks. That helps. Thank you. I'll pass the line. Thank you. Your next question comes from the line of John Shao from TD Cowen. Please go ahead. Good morning, guys. Thanks for taking my question. Peter, could you talk about the current spending environment among U.S. hospitals and whether that spending profile is kind of dependent on the results of midterm elections? We don't think so. We were actually just talking about it at the board meeting yesterday. It feels like the hospital networks, at least the ones we're working with, and we obviously are working with many of them, they're kind of just ignoring the political noise. They don't see any sort of short-term massive shift. They've already seen the impact of the fact that the Affordable Care Act, or Obamacare, as they call it, is not being subsidized as it was for a few years. So they've seen more patients that were insured under that program sort of falling off insurance. But they've already really absorbed that impact. They've seen what that impact is, and they're not really expecting any other major shifts. They seem to be largely ignoring the noise, and focusing on their long-term planning and getting their networks into the kind of shape they need to be to really harness the power of some of the technologies they're seeing coming. AI itself is becoming a driver right across the board as they're seeing that you can't run AI against data that you don't have. T he networks that are not working with us really only have information about what they bought and what they build, and they're kind of blind on what's in between. So that's where our platform comes in. It gives them that end-to-end real-time data about where their stuff is, when it's going to expire, utilization rates, et cetera, which is massive in terms of being able to then run AI against that and gain all kinds of efficiencies and advanced planning and so on. We're not seeing and we keep watching for it. There's so much political noise. You keep sort of watching, is any of this affecting this? Isn't happening. Our sales team is slammed with activity right now, with lots of these networks wanting to move ahead. Got it. How much of your SaaS booking this quarter is kind of partner-led, and how should we think about your PS backlog recovery in the context of a growing partnership ecosystem? Our partnership ecosystem is growing. At the same time, some of the deals we are now signing, even with a partner involved, still require a fair bit of work from us. We also believe we are shortly going to see more and more work coming out of the implementation of TecsysIQ. We have seen a little bit of that now. We see that continuing to grow. We are not really expecting growth in PS overall. Last year was quite robust in professional services, and we are kind of anticipating it is not going to move that much. Timing-wise, as you know, our bookings in the first three quarters of last year were actually quite slow, which was, interestingly, was almost identical to what happened the first year of Trump's first term in power was the networks were quite distracted and worried about what was coming and everything slowed down for the first year and then sort of picked up speed. The speed for us picked up in terms of SaaS bookings in Q4 and then accelerated further into Q1. We have now got a number of statements of work and project charters that are being finalized right now to implement that SaaS that was booked in Q4 and Q1. As that gets signed, we expect it is going to fill the pro services backlogs back up. As it is, pro service is still quite busy. It is running fine right now. We do need to fill that backlog back up. With some of these statements of work that are in the pipe to get signed in the very near term, we expect that to catch up very soon. Thanks for the color. I will pass the line. Thanks. Thanks, John. Thank you once again. That is star one to ask a question. Your next question comes from the line of Suthan Sukumar from Stifel. Please go ahead. Hey, good morning, guys. This is Essey speaking on behalf of Suthan. Congrats on the quarter. For my first question, I just want to double-click on the U.S. healthcare backdrop. How are demand signals and sales cycles progressing? It looks like expansions were strong in the quarter, but maybe on new logos, just given all the Affordable Care Act and reimbursement pressure, how do you see new logos for the rest of the year? It's always hard to predict until it happens. We have a number of situations where they've already told us, "Okay, you're the selected vendor. We now want to move to contract." At the same time, contracting in today's world is a complex process. Typically, there's a security committee to get through, there's an IT committee to get through, there's now an AI committee to get through, as well as, of course, legal. So that process can take anywhere from 2- 6 months to get through all those committees. So we have a very active new account pipeline. We're confident we're going to have a pretty strong booking year from the standpoint of new accounts. But the timing is always the killer on this stuff. We continue to push ahead. That's where what I mentioned earlier about ROI studies. These ROI studies really help because what it ends up highlighting to all the parties involved is that there's so much money to be saved by implementing these platforms that, in a sense, if you take six months to get through committee, you've potentially wasted CAD 20 million. It increases the pressure to get these things through committee. There's still a lot of committees. I guess I would say I was going to say cautiously optimistic, but we're actually way beyond cautiously optimistic. We are optimistic about this year's new account pipeline. It looks pretty exciting for us. Sounds good. Thank you. For my second question, maybe to kind of dive into TecsysIQ, I'm wondering how it is affecting pricing and is it becoming more central to conversations across the business and just anything incremental on the AI front. Yeah. That platform continues to move at a great pace. Part of it is once you've built the underlying tech stack that allows you to connect an AI engine to all the underlying data as well as other third-party data sources, to a certain extent, then you build as fast as you come up with good applications. Today, for [Point of Use], for instance, we have a dashboard that shows you your current situation, what you should be worried about, any pending shortages, specifically any pending shortages that may affect scheduled surgeries. That's all there. We've got a chat interface that allows a head of surgery or a charge nurse or whatever to just literally chat with the data. Okay, what's going on? What should I be concerned about? Do I have shortages? Hey, do those shortages have any substitutes we could use? Where are those substitutes in the network? Et cetera. We keep coming up with more. We've got a project underway right now to roll out a dramatically enhanced labor management capability on top of our WMS. It's just utilizing tons of what you would almost call information exhaust that has accumulated in our WMS over the years. We know the WMS keeps track of every single movement of every single worker, and exactly the time of every move they've made right down to the millisecond. You can use that data to plot all kinds of labor productivity trends and concerns and comparisons to benchmarks, and so on. Once you have that data, which we have, it's been sitting there for a long time, and continuing to accumulate, and then you add this AI engine on top of it, the sky's the limit. As fast as we can imagine things, we can build them. We are very happy with how that's coming along, and we are not seeing anyone buy our latest platform without buying TecsysIQ. Even anyone migrating up from previous releases is just adding in TecsysIQ as soon as they get to a release that supports TecsysIQ. Okay, perfect. For my last question, I wanted to touch on the general distribution segment. Could you provide an update on what's happening in life sciences and broader general distribution, and how much is the reported growth being masked by the legacy churn on OrderDynamics? I know that was more of a factor last year, but I think there's some expected runoff for this year as well. Sure. You want to take that one, Mark? Yeah. Maybe I'll start with the sort of the legacy churn thing. We provided in our MD&A kind of a disaggregation of Elite SaaS ARR and total SaaS ARR. The difference between those two numbers is going to be that retail OD ARR number. You can see the decline that's happened there. You can see the decline quarter-on-quarter, and you can see the decline from last year. As I mentioned in the commentary in the MD&A, there was a disproportionate amount of churn in this quarter that came from that non-core Elite platform. We think that'll probably moderate out a little bit now. You can try to read the tea leaves a little bit for the rest of this fiscal year. It'll continue to sort of grind out, but beyond this fiscal year. It'll come down a little bit in the current fiscal year, and still, we think we end up being disproportionately heavy on the overall attrition number. But the numbers are getting so small now. On that business a year ago, that was closer to just under 10% of the ARR. Now it's less than 5%. By the end of this year, it's going to be very much down in the very low single digits as a percentage of the business. So after this year, the number's going to sort of stop. In a way, it's going to matter a lot less. Then your other question, I think, was about life sciences. Can you just repeat that question, if you don't mind? Yeah, just more of a broader comment on life sciences, the general distribution segments. Yeah. That continues to be an important part. Our healthcare provider stuff is obviously the big piece of the opportunity set there for us. But we continue to see really interesting activities and including win activity, in the life sciences area. So it's one that we're quite keen on. There's new stuff popping into the pipeline there pretty much every month. So in some ways, it's a bit of a less sort of tap market for us. In a way, it's sort of broader and a little bit harder to get your arms all the way around. The healthcare provider stuff is a bit more discrete. It's a bit more of a discrete market, so we're super honed in on that. I think over time, we'll sort of start looking at the broader TAM opportunity in that life sciences, non-healthcare provider life sciences world, and fire some more guns in that direction. But right now, the key focus is really that specific TAM around health providers, I would say, as the primary base expansion and new logo driver. Okay, great. Thanks, guys, and I'll pass the line. Thanks. Thank you. There are no further questions at this time. I will now hand the call back to Mr. Peter Brereton for any closing remarks. Great. Well, thank you everyone for joining us for the call. We appreciate your time. As always, if you have additional questions, please don't hesitate to reach out to Mark or I, and we will look forward to chatting to you around the end of November with our Q2 results. Thanks, and have a great day. This concludes today's call. Thank you for participating. You may all disconnect.