Good morning, ladies and gentlemen, and welcome to the Newmark Security Plc Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time via the Q and A tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and we'll publish those responses where it's appropriate to do so on the Investor Meet company platform. Before we begin, we would just like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. And I would now like to hand you over to the executive management team from Newmark Security plc. Mary Claire, good morning. Good morning to you. Thank you very much. So, well, I'm Mary Claire Dweck, CEO of Newmark Security, and I'm joined by Paul Campbell White at CFO. Today, I'll show you how we're framing our plan to accelerate growth and give you the headlines from our latest full year audited results for 2025. For those of you who know us already, life in security tech continues to be exciting. I'll talk more about these points later on, but as a quick preview of the headlines. We've entered the new financial year strongly with good trading for q one. We've just signed a new five year supply agreement with ProTime to capture full share of wallet across the extended European territories. We've laid the all important foundations for our direct to end user channel with market leaders like Oracle, Workday, and SAP. We recently announced partnerships with Cenarion. It's a major step forward combining our platforms and helping us accelerate our plans in The US. We've extended our product mix with a new digital solution that enables tablets to act as time clocks in mobile field solutions where fixed devices just aren't appropriate. This isn't a replacement for our core devices, which remain the premium solution for fixed locations, but is an extremely valuable extension. And in a world of supply chain uncertainty, our devices remain tariff neutral. So the Independence Day impact and everything that has followed has been relatively straightforward for us to manage. All in all, progress continues apace, and it's always nice to be recognized for our achievements with a recent article in Forbes and an award nomination to AIM. And for those of you who don't know us, let me give you a short introduction. Newmark has carved its niche, delivering long term value through products and services at enterprise security. We're focused on solutions that protect human capital. And headquartered here in The UK and in The US, Newmark has a strong presence across North America and The UK and Europe with over 60% of our HCM revenues coming from The US business. Through two market facing brands, we focus on three segments of the market. Through Grosvenor Technology or GT, we focus on human capital management, otherwise known as HCM, and access control. GT is our people and data business and is a well established provider of time clocks, access control, and all of the software and services that run these devices. This business have been growing rapidly in HCM, particularly in The US and Europe. And through Safetel, we focus on physical security. Safetel is also a well established business where we deliver long term, full life cycle value for our customers by manufacturing and servicing products like auto doors, entrance control, retail protection screens, and building security. All of our products and services across the group are delivered at high margin and increasingly generating recurring revenues through long long term enterprise security subscriptions and service contracts. And although we've been around for thirty years, we've recently been transforming this business into a high growth, high margin business as part of a long term strategy that's already demonstrating clear results. Today, I'll tell you more about that strategy and how it's accelerating. With a list that many would recognize and perhaps even envy, together with our combined businesses, we've partnered with major customers across numerous industry sectors, creating long term relationships with leading brands. Indeed, our blue chip base provides ample opportunity for our solutions, and our growing confidence is based on a wide range of relationships that we've worked so hard to create over many years. But of greatest interest is the bottom right hand block, which shows our growing success with software vendors mainly based in The US. Partnering with these vendors is a primary focus of our accelerating growth strategy and activity. These are the software houses that make h m systems running people, the human capital in almost every company in the world. There are major organizations in themselves with huge lists of customers across every industry, and they give us much faster access to them rather than trying to go to each one ourselves. By unlocking access to multiple customers through these partnerships, this avoids the need to mobilize large direct sales forces, giving us a much more efficient way to scale. I said accelerate. By focusing on HCM software vendors, particularly in The US, where almost all the top 20 largest software houses are based, we are creating an exciting road map for faster growth. And this is the core focus of our growth strategy, which I'll come on to. First, let me give you some operational highlights for financial year 2025, which clearly demonstrates how the market opportunity is opening up for us. For growth of technology, our people and data business, a good place to begin is the context of what we do. So let me describe the problem we solve. The common challenge for our primary clients, both human capital management software providers and the enterprises they support, is about knowing how to manage resources, people more effectively. And nowadays, it's all about the data. For example, data that helps identify employees and tells employers when they're in a building or not. This is the heart of time and attendance systems, a major tech investment growth category which has come a long way since the days of manual punch cards. Nowadays, time clocks need to instantly verify thousands of people clocking in and clocking out of the workplace at speed, whilst at the same time, linking directly with the systems that run these companies so their workforces can be managed with absolute precision. In an age of high-tech workforce management, we bridge the gap that exists between the physical world occupied by real people and organizations and the digital world where systems and increasingly AI need to operate. By providing time clock devices, software, and services, we connect the physical employee to the digital employer by transacting and protecting people's identity, time, access, and security data to drive efficiency and productivity in the systems that manage people. Naturally, we manage a sensitive identity information extremely carefully and in accordance with strict compliance regulations, giving employees complete peace of mind over the security and the accuracy of the data. Having operated in this space for three decades, we have now grown to a team of over a 100 and spend 10 specialists who spent all their time obsessing about innovations in people's data and devices. That obsession has created market leadership with the best all round proposition that includes the highest quality devices, software, and services, which we can quickly connect and bring life for our clients. And with the acceleration of AI adoption across every enterprise, it's a very excite exciting time for our customers who need a responsive partner that can offer high quality products that rapidly enable their advancing strategies. This is allowing us to target full share of wallet, which includes replacing low end devices for manufacturers like China. Put simply, our task is to scale quality innovation as quickly as possible. To compete across the market, first, we deploy the complete range of our specially designed time clocks from entry level to premium with pricing designed for most needs and budgets. All our devices come with services attached, meaning they are all using connect are all connected using GT Connect, our software that brings devices, data, and service together in one secure cloud platform where everything can be remotely controlled. GT Connect is a connective tissue that is at the center of everything we do. Our remote services enable us to see the status of every connected device anywhere in the world. We can quickly diagnose issues and securely manage customers' configurations in the cloud. If necessary, we can send replacement devices that can be immediately swapped in, And all of the data is managed with strict security and compliance, removing major headaches for organizations. Our h m strategy consists of three layers with key initiatives aimed accelerating growth at each level. The first layer is revenue growth where we continue to seek, build, and expand h m strategic partnerships across the industry to open up new sales channels and drive growth. Earlier this year, our partners, Workforce Software, was acquired by ADP, one of the world's leading employee management solutions company. Whilst another partner, Paycor, was acquired by Paychips, a global payroll and HR solutions company. While this caused some disruption to orders in H two, we're excited by the scaling opportunities we have to introduce their far broader range of customers to our products and services. Similarly, our largest European partner, Proton, completed several acquisitions in H1 to expand into new European territories, presenting the opportunity to become their sole time clock provider. And we've just announced signing a new five year supply agreement. We've also delivered a series of upgrades for long term UK retail clients, demonstrating our strong local relationships and products. By actively working to displace incumbents with competitive pricing for high quality devices and services right across the market, we're now increasing targeting full share of wallet. In North America, demand for g t four and low cost g t four Lite has been particularly strong with orders for the latter helping to displace our main low cost competitor from China. The second layer is margin growth, which continues our strategy of increasing high margin recurring revenues by attaching services to all new business. This includes pushing services through to every existing partner to ensure they're taking advantage of our constantly advancing software. In fact, every customer in North America region with exception of what has now attached recurring revenue services. This is also where we anticipate seeing further impact of launching GT tablet to extend beyond hardware. More of that to follow. The third layer is all about scale and quality innovation, where we continue to invest in selling direct to end users by partnering with the world's leading HCM platforms, Oracle, Workday, and SAP. Through well established global market channels, we aim to unlock enterprise customers for large orders of our GT time products with our per employee subscription model. More of this on the next slide. Here are just a few key highlights of the progress we've made in DTE earlier this year. During the second half of the year, our business gained Oracle integration status following the successful testing of clock and cloud was cloud based software. The sales pipeline is building, and we expect to secure our first DTE customer during this financial year. Our workday integration is progressing well. We plan to have sufficient certification by the autumn, which will enable us to build pipeline over the remainder of the year. We've also completed our integration with SAP earlier than anticipated and are also targeting the first sales during the year. We recently announced exclusive partnership with Cenarion, a global provider of cloud workforce management software, further accelerate our DTE strategy. The partnership combines HM's GT clocks and Scenarios workforce management software, integrating our products and services into the Scenarios platform partners in North America, enabling us to provide a fully uniform hardware and software solution. This remains a very exciting space for us with huge potential opportunity for Newmark, with activity and interest building strongly at global trade show events with Workday, Oracle, and SAP. As you heard earlier, GT tablet extends HCM pass hardware with our first solution of OniClock. With similar functionality to fixed devices, now in a tablet compatible form, GT tablet links existing customers tablets through our secure cloud platform, GT Connect and GT services. So I'm excited to tell you GT tablet will be launching on Google Play Store and iOS App Store this year. Actually, we've begun marketing GT tablet directly to partners late in f y twenty five, receiving significant interest, including one partner already committed to onboarding it and ongoing discussions with several others. We anticipate this to be an important incremental source of recurring revenue in the future. This didn't happen by accident. In fact, we're continuously innovating to remain at the forefront of our market and have created a new five year technology road map putting both AI and development capability at the heart of r and d. So Newmark continues to define the leading standard for state of the art quality and protection at HCM Edge. As I mentioned at the beginning, despite this year's tariff tariff volatilities, there will be little impact on our clocks because of the tariff neutral classification as data terminals. And with growing demand, this gives us confidence to think to think five years ahead. Now Paul and I will give you an overview of the key financials for 2025. Overall, group performance was as anticipated. Second half of the year was much stronger in terms of group sales and profitability. And we reported a slight growth in group year in group full year revenue and adjusted EBITDA. HCM went from strength to strength in this period with revenue growing 14% and the division now accounting for approximately 67% of total group revenue, up 7% by proportion on the previous year. The highloud was undoubtedly the continued significant growth and annual recurring revenues. In accordance with our long term strategy, and I will offer some further analysis on the next slide, once again, the core h m business is enjoying its sustained period of rapid growth but that continues to contribute to higher margin. So our consolidated group reporting shows the following audited results. Total group revenue for f y twenty five was £23,000,000, up 3% on the prior year. EBITDA increased by 8% to £2,400,000 We executed strategic focus on HCM with FY twenty five revenues of 15,400,000.0 up 14% year on year. HCM annual recurring revenues increased by 24% year on year to £3,600,000 in April 2025 contributing to profit margin growth. We now service over 40,000 monthly device subscriptions for GT Connect and other GT services, up 32% year on year. Gross profit rose 2.2 percentage points to 40.7% due to enhanced product margins and an increase in higher margin recurring revenues. Profit after tax has increased by £600,000 to 700,000.0 which was higher than the increase in EBITDA due to lower interest charges and higher tax credits. Group debt including leases decreased by £900,000 to 4,000,000. Cash as at 04/30/2025 was £300,000 a decrease of 800,000 on the prior year primarily due to the debt repayments. This strong performance was somewhat masked by some delays in access control, product upgrades and the timing of large contracts in Safetel noting that both business units reported stronger revenues in h two after several contract start dates were deferred into this year. Whilst these businesses are moving in the right direction and we have line of sight to substantial future orders, Clearly HCM is our focus given its growth and the scale of commercial opportunities we've been creating. As such, we're reviewing both access control and SafeDale's growth strategies to assess how we can best drive value for the group and ultimately for our shareholders. To understand our transformational journey, let's look at our five year numbers. As you can see in chart one, the top line revenue for the oval business has experienced four years of consecutive growth year on year revenue growth, rising from 17,600,000.0 to 23,000,000 in early last year. Although this is an impressive 31% growth overall, it represents 7% compounded growth year on year, which masks the true story. If you dig a little deeper, you'll see what makes Newmark such a compelling investment case. Looking at the numbers on chart two, you will see this growth is being fueled by our HCM division in Grosvenor Technology supported by these initiatives I've described. Here here, revenues have grown from 9,700,000.0 to 15,400,000.0, achieving a far more attractive 12% compounded growth rate over the same period over five years. What's drive this growth? The answer is subscriptions in our HCM services and clocks, increasingly used by major retailers and large employers. If you look at chart three, you'll see the number of subscriptions have grown from nearly 6,700 in 2021 to over 40,000 in our latest results. In 2025, GT clocks are handling over 12,000,000 monthly transactions. And in almost all cases, we are generating hardware, software, warranty revenues from each device. Our compounded growth in subscriptions over the last five years has been running at over 57% year per year, with annual recurring revenues growing from a 150,000 in 2021 to 3,600,000.0 this year, an even more impressive a 121% compounded growth with more to come this year and beyond. Now let me give you some more details starting with HCM. As Mariker has outlined, the growth story continued at Groza in FY twenty five with top line revenues increasing by 10% to £18,100,000 up from £16,500,000 in 2024, a gain of £1,600,000 and now accounts for nearly 80% of group turnover. Gross profit also continued its upward trajectory rising by 2.8 percentage points to 42.5% which is particularly pleasing as we transition towards greater forward visibility from a higher proportion of recurring revenues. Our strategy to focus on HCM continued to drive our growth with revenue increasing by 14% year on year to £15,400,000 up from £13,500,000 in the previous year. ARR increased by 24% to £3,600,000 up from £2,900,000 further improving HCM's profitability. We reached a new milestone achieving over 40,000 monthly device subscriptions for GT Connect and other GT services, up 32% year on year with an additional 10,000 subscriptions. For the first time, this included 3,000 subscriptions under the new per employee per month model designed specifically for the direct to end user market. And all of this shows how the HCM business is establishing the necessary foundations to position itself for even stronger growth in the month and years ahead. Meanwhile, Axis Control experienced a slower start in FY twenty five with sales impacted by delays from our software partner in the development of our new Genesee four Ultra product as well as to several upgrade projects. The division did see sales improve in the second half as we have anticipated, although full year revenues of 2,700,000.0 was 10% down on last year. Whilst not our primary strategic focus, the drop in performance has triggered important changes. These include renewed focus on high value opportunities where returns remain strong alongside various tactical initiatives to accelerate migrations, new product development. We're also assessing the best options to determine how this unit can deliver better value for the group. At Safetail, the transformation to long term value continues as it shifts to an increasing proportion of recurring services. In fact, it has now crossed the tipping point with services now accounting for more than 56% of total revenues at £2,700,000 This valuable progress was achieved despite a disappointing year in projects where a number of public sector contracts were deferred into FY twenty six due to extended building schedules and procurement cycles. Whilst these delays have created a rebound effect for this year with a robust f y twenty six forecast and a solid pipeline of opportunities, f y twenty five products were also suppressed in the retail sector where clients were impacted by high inflation and a slowdown in consumer spending, which created delays in planned rollout programs. This combination led to a drop in overall revenues of 15% year on year to £4,900,000 However, we're confident that the completion of the third projects together with substantial new opportunities and the rising baseline of services will deliver a positive FY 2026 and a welcome return to growth. The highlight of f y twenty five was undoubtedly the continued growth of service and maintenance revenue, up 30% year on year, providing increased forward visibility to add significant value and reflects the advantage of our high quality operations in this space. It was also a year of noticeable growth in door services, which grew 49% to £1,000,000 driven by new strategic accounts and a greater share of wallet from existing customers. Notable too were supply only product revenues, which exceeded expectations significantly, achieving 400 k of orders, 146% of our budgeted target. This strong outperformance demonstrates a healthy demand for our standalone products in this high margin segment reinforcing its strategic importance and growth potential. Indeed, Safetail has already had a more confident start to FY twenty six with a good pipeline building and a proportion of the deferred orders already being delivered in H2. As in FY '25, it expects to continue to grow its service revenues through expanding its store services offering and we continue to review the business to ensure focus on the best growth opportunities and outcomes for shareholders. Thank you, Paul. So in summary, and as anticipated, the second half of the year was in stronger group sales and profitability with strategic growth in HCM and continued strong growth in annualized recurring revenues. And as a characteristic of our business model, we continue to invest heavily in r and d in q one to to drive benefits through h two and beyond. We continue to win and extend contracts, increase share of wallet, and expand partnerships with major customers representing new scaling opportunities through their m and a activity. Like last year, our sales pipeline group wide is in great shape as we continually build and scale and profile in our target markets. We've increased our investment in building to our direct to end user channel, developing partnerships with world leading HCM platforms, Oracle, Workday, and SAP, targeting significant d to e growth in North America market through close collaboration with partners like Cinerion. I'm equally proud of our continued innovation, keeping us at the forefront of our industry with GT tablet launching on Play Store and iOS App Store this year, and a new five year technology road map that puts AI and development scalability at the heart of r and d. This strategic combination positions the group for rapidly expanding market opportunity. And as you heard me say at our opening remarks, we're already off to a great start in f y twenty six In our present and collaborative culture acknowledged by our partners across the industry, the future of the Newmark platform continues to be very exciting. Thank you. That's the end of the presentation, and I look forward to your questions. Perfect. Mary Claire, Paul, if I may just jump back in there. Thank you very much indeed for your presentation this morning. Well, I'll just bring back up your cameras there for the q and a. Ladies and gentlemen, please do continue to submit your questions just by using the Q and A tab that's situated on the right hand corner of your screen. But just while the team take a few moments to review those questions that have been submitted already, just like to remind you that a recording of this presentation, along with a copy of the slides and the published Q and A, can all be accessed via your investor dashboards. Guys, as you can see there, we have received a number of questions throughout your presentation this morning, and thank you to all of those on the call for taking the time to submit their questions. But, guys, if I may just hand back to you just to read out those questions and give your responses where it's appropriate to do so. And if I pick up from you at the end, that would be great. Thank you. Thank you very much. So the first question is, how have the businesses with Workforce and Paycor developed since the acquisition? Is there already new business with Paychex and ADP? So we're working very closely with both of these, paychecks and ADP. We haven't received orders directly, but a close collaboration is being formed, and we anticipate this moving forward. So we're very positive about this, and this opens up new channels beyond for us. What's while the status of a strategic review for Safetel and Janice, when will these finally become sustainably prop sustainably profitable? So we're looking at the strategic review of both of this. We see increased orders for Safetel quite dramatically this year, but we're doing a strategic review on Safetel and access control. And at the half year, I expect to share more with you. I think this is similar question in one area. David, thank you. Fair to say good second half after the first half shocker. SafeTel continues to be a drag and creates complexity, organizational, and opportunity costs. It impacts shareholders' returns and hides GT growth. Returning it to growth doesn't mean profits. Should we we merge it, selling it to reduce costs, improve numbers, When will we be clear or have obvious shareholders what you have taken appropriate steps to maximize shareholder values? Similar to the last question, I look forward to sort of updating you at the half year results on a strategic review there. Not more I can say at this point. And over to Martin's last question, how do you differentiate against larger global HCM and security players who are also targeted to end five cards with integrated hardware and software? Well, both our product lines are very different. On HCM, I think we're becoming one of the world leaders because they're integrated product and the services we offer and the security we offer to our customers, which has been widely appreciated by some of these very large software houses. And so we are making a difference, and people are seeking us out and calling us out. We've been in the market for over thirty years with both HCM and security, and that's really sort of why we're a number one player in these markets now. And that comes oh, sorry. Two more questions. Cool. R and D increased spend 25% on year. Should we expect investments to contend to continue, especially given the pipeline of our integrations and products? Well, in h one, we've sort of having a big crease in spends, but we see expect this to level out over time in r and d. But we will need to keep growing the group as we continue to grow and spend in different areas. And I think that is the end of our questions. Absolutely, guys. If I may just jump back in there. Thank you very much indeed for addressing all of those that came in. And, of course, if there are any questions that do come through, we'll make these available to you immediately after the presentation has ended for you guys to review. But Marie Claire, perhaps before really now, just looking to redirect those on the call to provide you with their feedback, which I know is particularly important to yourself and the company. If I could please just ask you for a few closing comments just to wrap up with, that'd be great. I think our results sort of mask really what's going on in the group. And as I shared with you during the presentation, with the launch of our tablets, with sort of increase in customers, and sort of all our customers taking services with the exception of one, and also sort of moving and displacing sort of low cost Chinese manufacturers. On HCM, the exciting the future is extremely exciting. And I think we're beginning to see this evolve and grow with the number of connections and the recurring revenue growing and the good margins that we're receiving. And on the safe tell on the access control, on access control, we're seeing that develop. We're looking at products and services with that and what we can do. And on the safe tell, with the growing order book increasing and coming back to you later in the year on sort of strategic outcomes there. But it's exciting at Newmark, and the team are driven and very well posed and follow following as five year strategic plan, a very exciting technology road map ahead of us as well. So it's good at Newmark at the moment, and we're very excited about what's happening. Perfect. Mary Claire, that's great. And thank you once again for updating investors this morning. Could I please ask investors not to close this session as you will now be automatically redirected for the opportunity to provide your feedback in order that the management team can really better understand your views and expectations. This will only take a few moments to complete, but I'm sure it will be greatly valued by the company. On behalf of the management team of Newmark Security plc, we would like to thank you for attending today's presentation. That now concludes today's session. So good morning to you all.