Good morning, and welcome to the Zoomd Technologies Report Second Quarter 2026 Financial Results Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on a touch-tone telephone. To withdraw your questions, you may press star and two. Please also note today's event is being recorded. At this time, I would like to turn the floor over to Ben Shamsian, Lytham Partners. Please go ahead. Thank you. Good morning, and welcome to this morning's Zoomd second quarter 2026 conference call. With us on the call representing the company is Amit Bohensky, Zoomd's founder and Chairman, Ido Almany, Zoomd's Chief Executive Officer, and Tsvika Adler, Zoomd's Chief Financial Officer. At the conclusion of today's prepared remarks, we will open the call to questions. Please follow the operator's instructions to ask questions. Before we begin with prepared remarks, just a couple of comments. Today's call will contain forward-looking statements that are based on current assumptions and subject to risks and uncertainties that could cause actual results to differ materially from those projected. The company undertakes no obligation to update these statements except as required by law. Information about these risks and uncertainties is included in the company's filings, as well as periodic filings with regulators in Canada and the U.S., which you can find on SEDAR and Zoomd's website. Today's discussion will include non-IFRS measures. These should be considered as a supplement to and not a substitute for IFRS financial measures. Note that all figures on this call are represented in USD, as are Zoomd's financial statements. Finally, today's event is being recorded and will be available for replay through the webcast information provided in the press release. With that said, let me now turn the call over to Amit Bohensky, founder and Chairman of Zoomd. Amit, please proceed. Thank you, Ben, and good morning to all of you. We are pleased to speak with you today regarding our second quarter 2026 results. In Q2, we delivered a broad-based improvement across our key financial metrics compared with the first quarter. Revenues increased by over 10% quarter-over-quarter, and together with an additional 8% reduction in salaries and related costs, resulted in opening income and EBITDA turning positive. Net income also improved by approximately $1.7 million compared with the previous quarter. With more than $22 million in cash and cash equivalents and no bank debt, we believe that we are in strong position to navigate the current transition period while continuing to invest in long-term growth initiatives, business development, strategic partnerships, and our technological capabilities. As discussed previously, two major customers implemented changes to their operating models, reflecting ongoing adjustment in customer acquisition strategies and KPI measurement as part of broader shifts in the digital marketing landscape. We continue to actively work with both customers following these changes, maintaining our position as a trusted partner, supporting their long-term growth objectives. With one of these customers, as time progressed, we have become increasingly cautious regarding the likelihood of a meaningful recovery in activity levels. With the second customer, we continue to see a meaningful increase in activity levels alongside continued expansion into additional geographies, and remain optimistic that the trend will continue. We believe this period of transition reflects an ongoing shift in customer activity mix rather than a fundamental change in our long-term growth strategy. We also continue to expand and diversify our customer base. Over the past several quarters, we expanded our presence across North America and Europe, adding more than 20 new clients across the iGaming, fintech, and e-commerce verticals, including Fieldville Social, SportyBet, and Kraken. Based on the typical revenue ramp-ups cycle, management expects these customers' wins to contribute more meaningfully during 2026. These newly onboarded customers contributed over 20% of the company's revenues during the quarter, supporting the company's transition towards a broader and more diversified revenue profile. We believe this development supports the creation of the healthier, more diversified, and resilient long-term revenue base. As part of our growth strategy, we continue to advance strategic partnerships that should accelerate revenue growth. Alongside the collaboration with E2, we initiated an additional partnership during the year, currently in the POC stages, focuses on expanding capabilities across broad range of digital and multimedia distributor channels. We are expanding the resources dedicated to these initiatives, and we believe they will contribute over the coming quarters. At the same time, we implemented a series of operational efficiency and cost optimization measures designed to better align our cost structure with current activity levels. These actions are now increasingly reflected in our results, contributing to a leaner cost base and improved operating efficiency with dedicated AI tools and internally developed capabilities supporting a growing share of our operational workload. We are therefore entering the coming quarters with an improving revenue trajectory, a more efficient cost structure, and a stronger foundation for renewed growth. Now, I would like to turn to our product and service offering, as it's important for investors to understand our competitive advantage and why clients are coming to us. Our competitive edge stems from our comprehensive 360-degree approach to digital performance with a mobile-first focus, all designed to help our clients achieve their goals. We offer a wide range of solutions tailored to digital and mobile performance, enabling us to deliver a holistic suite of products and services that drive measurable results against our clients' digital performance KPI. Zoomd utilizes a combination of research and development, acquisitions, and methodologies to improve its offerings. One of our strengths is our transparent, direct, and intensive client communication. Unlike many of our industry peers, we don't operate through agencies. We work directly with our clients, engaging with the Chief Revenue Officer side at the organization. This relationship positions us not just as a vendor, but as a trusted advisor. The depth of this engagement fosters long-term partnerships, significantly reduces churn, and creates strong opportunities for revenue growth within our existing client base. This approach enables real-time campaign management without delays, even while simultaneously having multiple campaigns across various geographies. The unique approach positions us as a semi-human, semi-automated command and control platform, effectively combining advanced technology and strategic insights. We closely monitor and respond not only to the shifts in client strategy, but also broader macroeconomic changes beyond the client direct control. As a result, we empower our clients to swiftly adapt to market fluctuations, maximizing their impact and driving significant customers globally. Our main platform is integrated with hundreds of media sources, allowing us to promote our customers' digital assets on multiple channels under one system. We use a DSP or a programmatic media buying. The DSP is integrated into the biggest mobile media exchanges, providing our customers full range and reach for their mobile web and our performance needs. We optimize advertisers' resources and maximize their advertising budget and efficiency. There is no dependency on any specific media supplier or traffic channel. This not only saves valuable time and resources for our advertisers, but also provides enhanced clarity and consolidated insights. Beyond the walled gardens like Google and Meta, the open marketing landscape is fragmented. Zoomd enables advertisers to leverage a wide range in various types of media channels, from social to programmatic, OEMs, SDK networks, and more. Their KPIs are achieved altogether over the mix. I will now review the second quarter of 2026 financial results in detail. Revenue. Revenue in Q2 of 2026 was $7.7 million, a 61% increase from Q2 2025. The decrease in revenue primarily reflects changes in the operating models of two major customers. While the outlook for a meaningful recovery with one customer remains uncertain, activity with the second continued to improve and expand into additional geographies. At the same time, the company continued to execute its diversification strategy, with customers onboarded during 2025 contributing more than 20% of quarterly revenues and customer concentration among the company's largest customers continuing to decline. Reflecting this positive trend, revenues in Q2 2026 increased by over 10% compared with Q1 2026. Gross margin. Gross margin in Q2 2026 was 43% consistent with Q2 2025. Variations in gross margin across periods primarily driven by changes in customer mix remain with our representative for profitability range. Operating expenses. Total operating expenses for Q2 2026 were $2.8 million, a 7% decline compared to Q2 2025. The continued decrease in operating expenses reflects the ongoing benefit of the company's operational efficiency and cost optimization measures implemented over recent quarters, including a reduction of approximately 20% of its workforce and other expense reduction initiatives. This ongoing focus on operational efficiency is also reflected in the quarter-over-quarter results. In Q2 2026 compared with Q1 2026, personal-related costs decreased by approximately 8%, while growth-oriented spending increased by approximately 25%, primarily reflecting a continued investment in business development and customer engagement. EBITDA. EBITDA is used as a primary performance measure by the company's management to ensure it has the right structure to support future growth. We define EBITDA as operating profit before depreciation and amortization. EBITDA in Q2 2026 was $0.7 million, compared to $5.5 million in Q2 2025. The decline in profitability compared with the corresponding periods in 2025 primarily reflects the decrease in revenues. The impact was partially offset by the continued benefits of the company's operational efficiency and cost optimization measures. The combination of positive revenue trends described above and the company's lower cost structure continued to broad-based improvement across the company's key income statements metrics in Q2 2026 compared with Q1 2026. Revenues increased by over 10%, and together with an 8% reduction in salaries and related costs, supported operating income and EBITDA returning to positive territory, while net income improved by approximately $1.7 million. A full reconciliation EBITDA is available in our MD&A filing. Net income for Q2 2026 was $1.2 million, compared to net income of $6.1 million in Q2 2025, in line with the factors explained above. Before we move to the Q&A, I would like to thank all our employees for the hard work and dedication, as well to our investors for the continued support. With that said, I would now happy to take questions. At this time, we will begin the question and answer session. To ask a question, you may press star and then one on your touch-tone phones. If you are using a speakerphone, we do ask that you please pick up your handset before pressing the keys. To withdraw your questions, you may press star and two. Once again, that is star and then one to join the question queue. At this time, we will pause momentarily to assemble the roster. Our first question today comes from Jesús Sánchez from Castañar Investments. Please go ahead with your question. Hi, Amit. It is great to see the quarter-over-quarter improvements. I do not know if you can quantify for this Q2, what percentage of the Q2 revenue was that customer that is coming back and what the Q2 revenue would have been without him? Hi, this is Ido, the Chief Executive Officer. I will take this question. We do not specifically disclose clients, but it was, say, around 20%-25% of the revenue of the quarter. You said that you expect it to come stronger than it was before they had this. Yes. Again, with this customer, as we have said during the remarks, we are seeing continued expansion and testing on their end through our service of new avenues like new geographies, new media types, and we are keep seeing continual growth there. Again, as it is still in the testing phase, it has not stabilized, but we see future of growth with them going forward with this client, yes. Fantastic. Now that I have you, another finance question. We back out the Forex effect on the cash balance. Our non-Forex finance income more or less implies like a 1.5% of the cash on interest yield. Am I reading that right? You are kind of breaking up. Can you please repeat the question? Oh, sorry. Regarding the Forex? We removed the Forex effect from the cash. The interest income implied like a yield roughly of 1.5% on our cash. Is that right, what I am reading? Or why it is not higher and we do not have the money in term deposits or any other high yield? A meaningful part of the finance income come from currency movements, mainly because the Israeli shekel is strange against the USD. We also earned interest on our cash deposits, but most of the finance income came from the currency movement. Most of our available cash is held in new Israeli shekel. At the same time, a large part of our expenses is also in the new Israeli shekel, so that creates some natural offset and reduce the overall effect. Understood. Thank you very much. I will pass the line. Thank you. The interest for our deposit is more or less something around 4% for the deposits, and we don't have interest for the cash balance. Is then the Forex that is counterbalancing that 4%? Yeah. Or we can take more questions. We can set it later. Okay. Thank you. Once again, if you would like to ask a question, please press star and then one. We do have questions that were sent to the company. Ben Shamsian, please proceed. Thank you. With regards to the one customer that you are seeing increased activity, when do you see revenues returning to some normalized levels with that customer? Again, we do not have a crystal ball about the activity. We are currently seeing increased levels with them, the positive trajectory going forward. They are nowhere near the level that we believe are achievable with them. Then again, we are not building our entire growth strategy on them. We are very optimistic about what we can achieve with them going forward in the next several quarters. Okay. We have another question regarding the cost optimization measures. Will these expenses go back up once revenues return to normalized levels, or can we see them stay where they are now? Not expected to materially grow. The way we have set up the new expense structure, it is not expected to grow linearly with revenues. We have induced both general cost efficiencies as well as implemented many AI toolings that are supposed to assist doing our work in a more efficient manner. As revenue grows, obviously there will be more expenses, certainly not in a linear fashion, which will allow us to extend our margin. Okay. We have another question on M&A. Can you speak about the M&A landscape and what specifically is Zoomd looking for as far as targets are concerned? This is Amit Bohensky. We stated we are actively in the pursuit for M&As in order to find, first of all, potential book of clients where we can expand in an inorganic way, just get those clients and go with them with the factor machine that we've built that can help us to do very efficient customer acquisition. Further to that, adjacent businesses that can help us to be implemented further within the organization. So we are looking at different type of business areas that, also because of our positioning with those type of clients, can allow us to expand. Right now we are in live pilots and POCs with some companies, add clients that we bought or that they bought, and when we feel that it's safe enough, we will take the next step and jump to these potential M&As. Okay. Thank you. Once again, if you would like to ask a question, please press star and then one. To withdraw your questions, you may press star and two. It's showing no additional questions. We'll conclude today's question and answer session. I'd like to turn the floor back over to Amit for any closing remarks. Thank you for joining us today and for your continued interest in Zoomd. Before we conclude, I'd like to say that many of you are already in direct touch with me. For everyone else, please feel free to reach out directly over email or WhatsApp anytime. Thank you again for your time, your support, and your continued trust in us. And with that, ladies and gentlemen, we will conclude today's conference call and presentation. We thank you for joining. You may now disconnect your line.