Good morning and welcome to the Tiny Ltd. Q2 2025 Results Conference Call. All lines have been placed on mute to prevent any background noise, and after the speakers' remarks, there will be a question- and- answer session. If you would like to ask a question during this time, simply press Star and the number one on your telephone keypad. If you'd like to withdraw your question, please press Star followed by two. Before we start, we ask you to take a moment to read the disclaimer at the beginning of the slides that accompany this presentation, as it contains important information. We would also like to remind you that all amounts discussed on this call are denominated in Canadian dollars unless otherwise indicated. Please note statements during this call may include forward-looking statements and future-oriented financial information regarding Tiny and its business, D isclosure regarding possible expectations, events, conditions, or results that are based on information currently available to management, which indicate management's expectation of Tiny' s future growth, results of operations, business performance, and opportunities. Such statements are made as of this date hereof, and Tiny assumes no obligation to update or revise them except as required by applicable securities laws. Such statements involve significant risks, uncertainties, and assumptions, and are not a guarantee of future performance or results. A number of these risks and uncertainties could cause results to differ materially from the results discussed today. Given these risks and uncertainties, one should not place undue reliance on these statements and information. Please refer to the forward-looking statements disclaimer in the slides accompanying this presentation and in the company's press release issued today for additional information. We use non-IFRS financial measures to help investors understand our operating performance. Non-IFRS financial measures may not be comparable to similarly titled measures used by other companies and should be considered along with, but not as an alternative to, measures calculated in accordance with IFRS. I would now like to turn the call over to our executive team from Tiny for today's meeting. Please go ahead. Thank you. Good morning, everyone. Welcome to Tiny's Q2 2025 Earnings call. You've got Jordan Taub and Mike McKenna from Tiny. I have to say that I'm proud of the continued momentum represented by our Q2 results. We closed Serato, which is now included in our consolidated results for approximately half the quarter. This has allowed us to benefit from the consolidated results for Q2, increasing our recurring revenue, our adjusted EBITDA, and free cash flow. We remain excited about the near-term development roadmap within Serato and wanted to highlight the launch of Apple Music within the Serato DJ platform. This is already helping with subscription growth and will continue to benefit our organic growth going forward. We had significant improvements in our adjusted EBITDA free cash flow year over year. This has been a big strategic focus of Tiny for the past 12 months, with LTM adjusted EBITDA improving to $35.3 million and LTM free cash flow improving to $20.9 million, which was an increase of $18.9 million year- over- year. This has helped us to continue our strategic priority of repaying debt, with $5.2 million repaid in Q2, and we will continue to focus on generating free cash flow and prioritizing deleveraging through the rest of the year. Finally, Tiny Fund One increased its net asset value to $142 million throughout the quarter, driven by the strong performance of Letterboxd, which reached 21.4 million members, an almost 50% increase year- over- year. We also received $0.5 million in distributions from the fund, bringing our total fund distributions for the year to $1.5 million. Pro forma revenue increased by 4% compared to Q2 2024, adjusted for our dispositions of Frosty and 8020. It's important to note the comparative quarter included a large enterprise deal in our Creative Platform of around $5 million. If we exclude this from our results for Q2 2024, growth was over 15% in Q2 2025. Otherwise, growth within the quarter can be attributed to continued strength in our Digital Services business, as we highlighted the additional credentials in MetaLab related to AI landmark projects and the inclusion of half a quarter of Serato. This was offset by lower piracy recovery revenue within our e-commerce platform, as this initiative is now largely complete. Recurring revenue increased significantly quarter- over- quarter, as this is mainly driven by the inclusion of Serato, given their large subscription revenue model. Recurring now makes up 26% of our total revenue, and we expect this to increase throughout the year. We continue to see opportunity to grow our recurring base within the portfolio, and we are on track for an annualized figure of over $64 million when including Serato and reflecting the performance of our other subscription businesses. Adjusted EBITDA and adjusted EBITDA margin continue to improve on every year-over-year comparison, with LTM adjusted EBITDA reaching over $35 million for Q2 2025. If we include Serato for the full quarter, adjusted EBITDA would have been $10.3 million with a margin of over 18%. We expect improvement to continue for the rest of 2025, given the initiatives we already have underway related to cost discipline and revenue growth. Okay, Jordan, thank you very much. I'll take over this page here on free cash flow and talk a little bit more about this really important metric. Jordan highlighted this as a really key component of our performance, and I think you'll see by the numbers, obviously we've been very focused on this, but we've got some very positive results here as it relates to our free cash flow, as well as our free cash flow post-debt servicing. These are both metrics that we've introduced as KPIs for the business, and we continue to report on them. We provided a bit more detail this quarter in terms of the quarterly comparison, as well as the first half of the year comparison. You'll see significant improvement in these key metrics, both on the quarterly basis and through the first half of 2025. Our free cash flow overall improved by $9.7 million and adjusted free cash flow post-debt servicing improved by $8.7 million when comparing the year-over-year period in Q2 2025. We've also provided the free cash flow metrics per share, which highlight this important financial KPI down to the shareholder level. You'll also see very significant improvement in those metrics at the per share basis. Importantly, we've enhanced our overall free cash flow while continuing to be committed to debt repayment with available cash flow, as well as ongoing evaluation of potential acquisition opportunities. The acquisition of Serato and the ongoing cost discipline that we've enacted through operational efficiencies and driven excellence will continue to improve cash flow through 2025. I'll move on now to some highlights about the performance of the Tiny Fund One. Again, in this quarter, you'll see enhanced detail on the financial performance and the carrying value of the fund. We will continue to aim to provide financial and operating highlights for the fund and individual companies, as highlighted here in Q2, by a comparative period overview of both revenue and Tiny Fund One distributions for Q1 2025 and the first half of 2025, both compared to the similar period in 2024. We've also noted an increase in the carrying value of Tiny Fund One this quarter, up by $13.2 million. As we move on to some operational highlights, Jordan touched on earlier some of the success at Letterboxd. We've also seen again good performance at AeroPress, with continued new product development and opportunities to continue to enhance the portfolio as the market opportunity expands. In this quarter, AeroPress launched the AeroPress Clear XL, which is the latest evolution in its popular AeroPress Clear, with a now larger 20-ounce capacity. Moving on to an overview of the debt position and cash, one of the important things we want to highlight here is that through the course of the last series of number of quarters, with our continued commitment to debt repayment, we've been able to ensure that we're maintaining our leverage ratio in a much more manageable fashion. We still remain focused on getting the target leverage ratio below 2.5x through debt repayment and natural deleveraging through improvement in adjusted EBITDA. However, it is important to note that the 2.8x at the end of Q2 2025 on a pro forma basis with Serato includes the convertible debt that we did take on to do the transaction, to finance the transaction, as well as some additional debt through our operating facility, which is available for acquisitions. We are still at 2.8x at the end of the quarter, which is a significant highlight in terms of our commitment to this metric. If you compare that to where we were as a business at the end of 2023, our leverage levels have come down significantly, and it shows that we can get us down to that 2.5x or below target that Jordan and I have referenced a number of times. I'll turn it back to Jordan to highlight the rest of the year roadmap and finish up the call. Thank you, Mike. To summarize here, again, I really just wanted to say how proud I am of the continued progress and momentum of the business. You know, there's been significant improvement in adjusted EBITDA, free cash flow, and these are all things that we've discussed at our AGM and throughout the quarters in our financial update calls around driving free cash flow growth, especially on a per share basis. I'm proud to announce that free cash flow increased to $20.9 million from $2 million in the comparative year. You know, this will continue to improve throughout 2025. We're excited to keep you updated on the improvements with Serato and with the rest of the portfolio. We remain committed to improving our leverage ratios and repaying debt. That leverage ratio will continue to come down throughout the year, giving us flexibility for future capital allocation, reducing our interest expense, increasing our free cash flow, and allowing us further flexibility for other capital allocation decisions. We will continue to improve our fund disclosure and provide insights into the portfolio within the fund. We expect to continue to get distributions from the fund throughout the rest of the year, and we're also continuing to evaluate additional net asset value changes or increases based on the performance of the fund. We're excited about the prospects of our major investments within the fund, and we're excited to tell you about them. Finally, closing Serato was a monumental milestone for us within Tiny. We are extremely excited about the acquisition. I just got back from a trip to New Zealand to see the management team and go over our investment thesis and talk about the plans for the rest of the year. We're excited about the rest of the features and product enhancements that are coming out and working with that team, and we'll continue to keep you updated on the performance. Finally, as always, we continue to evaluate additional acquisition opportunities, and we are committed to compounding capital at high rates of return for the near- term and for the long- term. Thank you, everyone. Thank you very much. We can open it up to questions.