Good afternoon, ladies and gentlemen, and welcome to the PCI Pal Results Presentation. To start with, if we could cover a couple of housekeeping items. Before we begin, we would like to submit the following poll, which you will see on your screens. Throughout this presentation, investors will be in listen-only mode. However, questions are encouraged and can be submitted at any time via the Q&A tab situated on the right-hand corner of your screen, or if anyone has dialed in via pcipal@wallbrookpr.com. The company may not be in a position to answer every question it receives today. However, the company will review all questions submitted and publish responses where appropriate. These will be available via your Investor Meet Company dashboard. Finally, we would like to remind you that this presentation is being recorded. I would now like to hand you over to Chief Executive Officer James Barham and Chief Financial Officer Ryan Murray. Thank you, Tom. Hello everybody. Welcome to our FY 2025 update and walkthrough of the results and the look ahead. We've had a good week seeing investors this week. FY 2025 was a strong year for the business. We think we've got the right strategy, and that's really being seen now with the strength of various areas of the business, whether that be the cloud platform, the integrated partner ecosystem that we've got, and our international reach as well. Those three core parts of our strategy that we've had for a number of years are really ringing true right now. A lot of good stuff going on in the business. Spending most of my time talking about new opportunities rather than fixing things, which I think doing my role is a great place to be. Enjoying life at PCI Pal myself, but also my team at the moment. Ryan and I are actually in the same room. It may not look like it, but we are. When I look across, that's what I'm looking at. Going to quick background today. We do quite a lot of these sorts of things. I'm trying to get out a bit more publicly as well. Please do pick up some of the content that's available on the Wallbrook website. We now have recently initiated with Edison as well. We recently did an update video with them. What we'll do in this session is I will give an overview of the business to begin with, but I'm not going to do too much of a deep dive into the products that many of you know very well. If you just go back to our interims presentation, there's a bit more background in there, but we want to leave enough time for questions as well, which can sometimes be where we run out of time. With that in mind, let me start with some background on the business. If you don't know us, PCI Pal is a fast-growing SaaS business. We have a secure payments platform that empowers customers to transact, our customers to transact business with consumers securely, to do it in a cost-efficient way, and to do it in a way that's compliant with the various data protection standards, particularly around credit and debit card payments. Our platform provides services across every single business communications environment. What we mean by that is the examples would be live voice, web chat, social media, conversational AI, so voice bots, chat bots, all of these incorporated into the contact center mix, or as was known, the call center mix as it is today. We cover everything that goes into the contact center, whether it be human or whether it be bots, which is something we're starting to see a little bit more of over time. Three key pillars to the strategy, which I touched on just in that opening. We have cloud. To be the leaders in cloud technology in our market, we were the first to market with a true public cloud offering in our space by a number of years. We have built the most extensive multi-tenanted global public cloud platform in our space. You'll see as we go through this that it's in a very robust position as a cloud platform that supports our business. We use our cloud technology to be able to access the breadth of our market globally, and we're able to work with any size organization in the contact center market. We work with the very largest contact centers, like in the U.K., the Department for Work and Pensions, and HMRC. We work with many sort of smaller or mid-market end contact centers as well. Actually, the contact center market by majority is that kind of commercial to mid-market end. That's been, you know, it's an important part of our run rate business quarter to quarter. In order to access the breadth of that market, we leverage a channel go-to-market model. We primarily sell through partners or resellers in our case. A bit more on that to come in one or two slides' time. Across our platform, we have more than 700 customers. We've got some fantastic brands who clearly are the ones that we put on the slide collateral. It is often big brands that are looking to protect their data and are being the most innovative around payments and customer experience within contact centers as well. A lot of great customers. Also, you get some big brands who don't actually have very big contact centers either. We do have expansion opportunities within many of our customers as well. As I said, we service the breadth of that contact center market opportunity that we've got. Just on the bottom right there, you can see the partner ecosystem, which is very important to this business. We started out on partners very early, and we've been able to build a very strong ecosystem of integrated resellers as a result. Just yesterday, the new Gartner Magic Quadrant for CCaaS vendors was out, and PCI Pal is integrated to the vast majority of those and certainly is integrated to the largest on that Gartner Magic Quadrant. That's great to see. All right, some trading highlights for you. Not a huge amount that was new in terms of the key metrics that we hadn't already mentioned at the trading updates in July. Just to reiterate, ARR is our key growth metric within this business. We are a SaaS business. Everything we sell is on our public cloud platform. We're growing ARR at 25% year-on-year into FY 2025, with a fastest- growing company in our market and have been for a number of years. I'm pleased to see analysts showing us in peer groups on the financial research that's out there, and we appear to be either top or certainly in the top three of peer groups on [AVE] as well. This is all organic growth. Very pleased with that performance in the year to get to the numbers we got to. Driving ARR is contracted ARR, which is another metric we use to measure our growth. The only difference between contracted ARR or CAR and ARR is that contracted ARR includes contracts that are not yet at revenue recognition. We have a time to revenue before we get to that point. Actually, our CAR is a good indicator of where our ARR is going to be in the next 6 months-1 2 months. For those that know us, we did change that metric, the name of it. It used to be called TACV. It was literally a brand change. There was no change to the definition. We just wanted to align it more closely to ARR because in the future, as our time to revenue continues to reduce, it's likely that we won't need both. We're working towards that. Revenue up 25% in the year. Actually, you have to normalize that because we did have a double count of revenue from the audit issue that we had in FY 2024. Actually, the normalized sort of trend under the surface that I look at is 17% in top line revenue growth. As I say, ARR is the key for us when we're considering growth. Strong retention supporting those revenue numbers. GRR at north of 95%. It is tough in the SaaS market at the moment. For us to maintain north of 95% GRR is a top percentile performance. I'm very happy with that. The board are happy with that too. It really does create an opportunity for us to do more with those customers that we're winning. We've proven that we are good at winning new business. Can we now prove over the coming years that we can sell more to our existing customers? We need to make that available to our sales teams, to our customer success teams to have more products to be able to sell to be able to do that. Just finally, profitable as expected in the period and in line with market forecasts. All in all, just a sort of more general summary of the business. I often talk about the health of the business and that the business is super healthy right now. It's healthy in terms of our metrics that we're delivering. Our public cloud platform is seriously robust. The uptime is fantastic. Our relationships with our customers, high retention, our relationships with our partners, that is in better state than I've ever seen. It's not always perfect working with partners. It just can't be. More on that to come. We do a lot of work on that side of things, and we've got some very concrete relationships there. Also the health within the business as well. The strong culture that we have at PCI Pal, it's so important to what we do. It's had to evolve a bit as we've grown. It really doesn't feel that long ago that we were sort of five, six million revenue. We are now much larger than that. I think we've been able to mature the culture without destroying it. It's a very good position to be in. We're very proud of that and what we've built. Ecosystem, I'll talk about that a bit more in a moment. The partner ecosystem, a big highlight renewal in the year, really emphasizing our credibility in enterprise business. Probably one of the largest PCI contact center contracts in Europe, possibly even globally, that we successfully re-tended through a pretty competitive bidding process with everyone and anyone involved in our space and more. We got some fantastic feedback. I actually contacted the customer about that, and we were told that we performed exceptionally well. Really pleased with my team for that renewal, which, over the six years, if we retain it for the three plus three, which we would expect to potentially north of GBP 10 million in revenue from that contract alone. That's great to see. We want to see more enterprise business in the future. Other highlight wins in the period, some good expansionary activity with a very well-known airline, one of the largest airlines in Europe. We signed another particularly large customer in the U.S., which is an HVAC, so air conditioning type vendor, which might not sound a particularly large business, but when you do that across the entirety of the U.S., it's a pretty large organization. Competitor displacements have continued. A number of competitors' displacements in the period. Mostly we see those in the U.K., which tends to be the more mature market. More of our sales in the U.S. tend to be greenfield, but we do have opportunities to displace competitors. In fact, the one I'm thinking of here that we highlighted was actually in Spain as well. It kind of proves out the benefits of having one or two heads in mainland Europe as well. That language support that we've now got covering some of the key regions for us outside the U.K. and Europe, such as particularly Spain and France, are particularly interesting to us. We've been successful in the period in displacing a competitor. Finally, in the blue box in the bottom right there, the FY 2026 strategy. We announced this in the trading update in July. I'm not going to spend too much time on this. There is actually a pre-recorded Investor Meet Company video where I go into more detail on this, plus the Edison video as well. Please feel free to do that if you are inclined to put yourself through listening to me again. Please do that. We have issued a refresh or an update to our strategy. It's not a new strategy. As I said at the beginning, we think our strategy is the right one. Some of the decisions we have to make are about how hard we push, how fast or slow we go at things. We have to consider that in the mix of everything else going on with the business, the fact that we're publicly listed, etc., etc. We went through an extensive process in the year. This is the first year without that patent litigation that we were dealing with. I had a new CFO come into place in October as well. We told investors we were going to be doing this. We made a pretty prudent decision in my mind. We had GBP 4 million in cash sitting in the bank. We believe that the majority of investors in PCI Pal invested in us for our growth potential, and they invest in it as a growth company. We want to keep the pace up. That's the personality of this business. That's how we feel that we operate best. We took a decision to make a cash investment of GBP 1.5 million in FY 2026. You know, we've got a commitment within the business not to take our low cash down particularly much at all. I mean, we're expected to be pretty much cash flow neutral despite the investment across FY 2026. Off that GBP 1.5 million, 2/3 of that are into marketing and product marketing, and a third of that is into product and engineering. The reason that only a minimum of it feeds through into the P&L in FY 2026 is because that's the marketing spend, because the engineering expenditure is mainly R&D that gets capitalized over a period of time. The trade-off for that is that we are committing, or we're committing to try very hard to ensure organic growth in the region of 18%- 20% ARR growth for the next three years plus. We expect to do these things over the next couple of years anyway, but we want to sustain that as we take this business up to, you know, GBP 30+ million in revenue because we've got a view of where we want to get to in the next five years organically. Yeah, we're very pleased about the decision and we've actioned it and we're now moving fast to make those investments so we can hopefully see the benefits of them later this year. All in all, exciting time at PCI Pal. Partner ecosystem update. Pull this slide forward a bit from the last one we did because it really is so important to us. Actually, the top two areas of this slide here are really kind of background information. Again, you can get that from previous presentations that I've made. Typically speaking, 70%- 80% of our business, our new business contracts come through resellers. Those resellers generally come from the top two categories at the top there, integrated partners or solution providers. The majority of that just tends to come from integrated partners. Actually, in FY 2025, we had 82% of contracts coming through partners and 68% of the value came through partners. That's not unexpected for us at all because when we sell direct, it tends to be of a slightly larger average size. We're quite happy with that, though we have over the last couple of years seen that proportionate value that's coming through resellers increase and go up. That's because we're getting in deeper with these partners and partners are trusting us more to work with their enterprise customers. You know, we will try to do more of that as we go. In fact, our strategy with direct business as well is that we will often look to see whether we can fulfill it through a partner because we're very committed to our partner model and that will help to the longevity of that partner relationship. Just in terms of the highlights, in the bottom right there, the bullet points that you can see, a few highlights of the year in terms of partners. I said about the health of the business, the partner relationships that we have with all our key partners are in really good state. We never go across a full year and things pan out exactly as we expect them to with our partners in terms of how we forecast on a partner by partner, a region by region basis. We operate very, very closely within the business. We keep super close to how those relationships are going with partners and we're able to fix things often before they become problems. We're going into FY 2026 with the ecosystem, particularly key partners in a really good state of play. That growth trajectory going forwards, we have the ecosystem as it is. We expect it to at least stay the same and then grow incrementally what we do with the partners that are in that ecosystem. We then look to layer on one or two new strategic partners every six months. Those strategic partners will layer on top of what the ecosystem has already been producing, which incrementally allows us to sell more going forwards. Speaking of new partners in the year, we signed RingCentral. That was the kind of big news in terms of new strategic partners in the period. RingCentral in the past have done some work with competitors of ours, nothing particularly deep. They've completely standardized with PCI Pal. We went through, in fact, the best bit of this story really is that we've managed to get them to full launch within about four and a half months, which actually from signing a partner of that size, which is an organization that perhaps turns over $2 billion, to integrating to full launch across Europe and North America for us was a real success. You only have to look at some of our Zoom announcements in the year before. I'm not telling you any secrets around this, but Zoom was more like, I think, eight or nine months the gap between when we started the work to when we deployed. An element of that is partner side, but an element of it is also how we're standardizing more of what we do and a bit more on standardization to come. Very excited about RingCentral going forward. Good momentum into Q4. We've signed a number of deals with them already in this Q1, which has started pretty well for us. We did sign another CCaaS/UCaaS player in the U.S. as well, who is unnamed at this point. We're not at a position where we are able to name them in this forum, but hopefully later, certainly later this financial year, maybe later this calendar year, we'll be able to name them. It's another billion dollar plus revenue organization in the U.S. that is standardizing and focusing on PCI Pal. That one will be a slightly slower burn to get up to speed, but exciting reseller partnership nonetheless. Just sort of proving that when these opportunities come up with these big communications vendors, they are coming to PCI Pal. If they're not, we're being successful through competitive processes. I mentioned Zoom there. The reason I update you is because it tends to be one I've been asked about the most. Getting ahead of perhaps other questions, as some of you and I, Zoom moved a bit slower than we wanted it to in the first full year that we had with Zoom. We've seen really encouraging progress in the second half of the year, particularly in Q4. In fact, this Q1, just a month or so ago, we signed our largest deal to date with Zoom. Why has Zoom been a slower start for us than we had anticipated? I think it's purely that it's a very competitive space in the CCaaS market. Zoom, as they would admit themselves, they're a large organization, but their CCaaS product is still relatively new, as is proved by the Gartner Magic Quadrant yesterday where Zoom appeared on it for just the first time. We've got partners that have been on that Gartner Magic Quadrant for 10+ years. Zoom is having to aggressively go after market share. We have a fantastic relationship with them. We've got a very tight product working relationship. As they do gain market share, which they inevitably will, based on the investments they're making and their capability, we are there and we will look to benefit from that as a key partner of theirs. Finally, I'm just going to talk a little bit about conversational AI for a moment. Clearly, conversational AI is a big topic in contact centers. This is voice bots and chat bots. It's something we're completely embracing. I think it's a really exciting thing that's happening with the contact center market. To be clear, we see conversational AI as part of the contact center mix. Whether an agent is a human agent or a bot, it's within the contact center in our mind. Today, we're seeing very few payments going through conversational AI. We have customers using our services in voice and chat bots. That's come about as a result of some early stage reseller partnerships that we have. One of those is listed on the slide. PolyAI, a number of our partners resell other conversational AI platforms. As a result of that, we've integrated with those platforms via our partners already. For example, Cognigy is one of those. We're becoming very well positioned with some of the vendors that are looking like taking the lead in this space as a result of our connectivity and strength in the CCaaS market. That's actually where a lot of the conversational AI piece is going to play out. It's across the CCaaS market. That's one of the reasons why we think we're exceptionally well- positioned. There are a lot of these vendors, conversational AI vendors. Some of them are very small. Some of these largest ones I'm talking about, you're talking GBP 20 million, GBP 30 million, GBP 40 million revenue. They're the largest in the space. The smaller ones are very small. One of the challenges we have is that we want to be able to serve the mass market across conversational AI. How can we do that in a cost-efficient way? We were talking to investors at the half year to let you know that we were working on a conversational AI API. We now have that API available, and it is now active out there in the market. We have customers on it as well. The conversational AI API allows us to give a standardized, more out-of-the-box version of our click-to-pay, speak-to-pay, and key-to-pay solutions that conversational AI vendors can gain access to. We can be relatively hands-off to them doing it. We can leave them to just bill and use the services as they go. The volumes are so low at the moment. We're really not talking about any material revenues. Our main focus is to position ourselves for the long term, which I think we are doing very well right now in terms of what we're doing here. We really want to reserve, you know, custom work, real strategic work to the larger potential conversational AI partners in the same way that we do for our CCaaS partners. If you haven't read it in the CEO statement, we spent some time talking about the value proposition for conversational AI vendors with PCI Pal. I won't take you all through that now, but I think that is worth a read. You'll see that the value prop for conversational AI vendors is actually very similar to our CCaaS vendors. You can see where PCI Pal sits in that mix. We think long term, we have an opportunity here, particularly because it is fully expected by technology analysts and people that know the industry that conversations will increase as a result of conversational AI. You have people interacting with bots within contact centers who historically would never have spoken to a bot. Would never have spoken to a contact center, excuse me. You're actually going to see more conversations going in. We think particularly that's going to happen around voice AI, actually, as it becomes more sophisticated. Today, we're not seeing any sort of immediate impacts in our near-term pipelines or renewals or anything like that. We are more so getting ready for the future, and we're going to be exceptionally well positioned for that. I said I was going to canter through some of the background product pieces. I do have something on platform in a moment. Different types of payments that we cover, agent assisted, fully automated, automated more so today would be bots, but historically was IVR, so auto-attendance, these sorts of services. The three key products that we sell to our customers and make up the vast majority of our revenue today, click-to-pay, key-to-pay, and speak-to-pay, I've spoken to. Now let's talk about our platform for a moment. The PCI Pal platform is a public cloud platform within Amazon Web Services, available globally across numerous different instances. It's entirely integrated to the partner ecosystem that is summarized at the bottom of that slide there. Across leading CRM and desktop environments, we've got connectors into all of those vendors. We integrate to more than 130 payment service providers, and we are still adding them month to month. We've got more and more efficient ways to do that. We effectively can aggregate across all these payment providers. Additionally to that, we are resold by some of the world's leading business communications platforms who are facilitating a lot of these conversations going on. We think from a platform perspective, we're very well positioned. Our secure payment suite, as you can see from the orange semicircle there, is available to all customers across the partner ecosystem. We expect to continue to grow that. We are still seeing very strong demand for our core products. We are, though, intending to broaden our value proposition. We are not doing that because we see an erosion in demand for our core products. No, we expect to continue driving that forward. Those core products will contribute to the growth, the certain mid-term growth by majority that we see over the next two to three years. We do want to broaden our value proposition. As a result of that, we've been talking to investors explaining that we plan to launch adjacent products. One of the reasons we want to do this is we want to generate more new business from existing customers because we've got great relationships with customers. We've always had strong customer retention. We should be able to sell more because we can sell really well. We're selling a new logo and we have products to do that with. Part of this is about capitalizing on the high retention we've got and to drive that NRR metric north. We have a three-year ambition, or I certainly do, to get that to 110%+. To really start moving the needle on NRR from adjacent products perspective. We have the launch of the AI-powered fraud risk scoring product that we announced in July. That's the first in a range of adjacent products that we plan to launch over the next two years. The key areas of focus, you can see the emerging growth space there, the proactive fraud management piece that's already out there. We have the AI-powered fraud risk scoring product in place now with the view to try to reduce chargebacks within our customers' contact center environments. We're also looking at identity and verification. We've been talking about this for a while. It It shouldn't be too new. This is ID verification, things like digital images of driving licenses, passports, these sorts of things. Customer authentication, using solutions such as voice biometrics to, in a really sophisticated way, authenticate your customer. Our strategy around these adjacent products is product partnering. We've illustrated that or evidenced that in the first, the fraud management suite where we're working with a large Belgian company called Telesign, who have extensive fraud management capabilities across a good proportion of the world's mobile phone networks. The reason we're doing this is because we want to move quickly. Our IP is how we make these things available within contact centers, completely integrated to those environments. We also think that fraud identity, customer authentication is going to become even more relevant in a conversational AI world, you know, particularly in the voice space because as conversational AI on the voice side becomes more sophisticated, so will fraudsters. We think there's an opportunity there, which is a slight sideways step from payments and more related to fraud and security. This is where we're focused. We're aiming to be able to update investors later this financial year with the next step that we take towards that. What's important for us when we're launching a new adjacent product, and we will launch other features and things, we talked about data analytics, for example, but they don't necessarily move the needle. We want to leverage our existing product positioning with our partners. We want to leverage our existing go-to-market model with any of these products that we produce. This is our strength. We want to be able to do that from our cloud platform as well, to keep it neat and tidy within the same platform. We have to tick all those boxes, in my view, for any adjacent products that we're producing, or certainly we intend to over the next financial year. In short, we want to capitalize on the position that we've built. Okay, that's my operating update and background. I will now hand over to our CFO, Ryan Murray, for a financial run-through, and I'll control the slides. Thank you, James. Just highlighting that, you know, following on from the strong year that we've delivered with revenue growing to 25%, ultimately we delivered a gross profit of just over GBP 20 million. That was up 26%, which is great. We retained our high, strong gross margins as we still drive towards the 90%. We're at 89.5% for the year, which is very pleasing. With that profit, we continue to reinvest that into key areas in the business. We're driving partner management. As we said, we have a really strong partner network. By expanding into other regions, as we have in EMEA, that's already beginning to deliver returns for us in the current financial year. That's investing in, and also the fact that a large part of our new business comes from our partners. We want to ensure we continue investing in that area and not only driving new business because we're good at winning and we want to continue good at winning and continue that. Once we win, also deployments, which I'll talk a little bit more about when I go into our ARR. All of this investment is really to continue deepening our relationships with our partners, with our customers, and really underpinning our future growth. Following that investment, we still delivered a really strong EBITDA in the year, up to GBP 2.3 million, and a full year pre-tax profit of GBP 800,000. The first full year we delivered profit right down to the public foretalk, which is very pleasing. If we have a look now at our ARR, if you look back over the last five years, the group has consistently, the compounding growth rate for our ARR delivery is really strong at 37%. That demonstrates the stickiness of our revenue and also the reliability of our offering. Once we're deployed and we're with customers, they stick with us because we actually continue to deliver a really strong quality product for them. You will notice we had a nice acceleration in our deployments in FY 2025 compared to FY 2024. That's because we, as a business, started to focus on the processes of our deployment and the standardization of that. That's something we will continue to do. I would also say that not all of the deployment is within PCI's control. Because of the deployment element, there is still a dependency on our customers. We continue to work on that to streamline this as much as possible. Going forward, other years we want to continue to maintain the ARR growth in the region of 15%- 20% going forward. The ARR gets delivered from ultimately our contracted and the recurring revenue. The contracted revenue is all the contracts that were signed but aren't yet live. This will grow at a different rate to our ARR deployment because this is the final building blocks where the new business comes in. We continue to add to that steadily year-on-year. We said over the last five years, 25% compounding growth, but we're up 16% this year. We want to make sure we continue that and increase that in absolute terms over the coming years to ensure that we can continue to deliver the ARR growth that we want to. Ultimately, you know, we have a strong pipeline, which really gives us good visibility on our future ARR. Actually, being a secure ARR gives us strong visibility over our future revenues. How do I close the loop? Our revenues, it's really pleasing to see that within that, the recurring element has increased up to 91% from 89% in the prior year. This really demonstrates the quality of our revenue, and it's being driven from our cloud solution, right? The non-recurring element is remaining pretty static. That's really important for us. That is the key driving. Again, it underpins the visibility of our future revenues and continued growth. Also, pleasingly, we've continued to expand in all our regions. EMEA, being our largest region that we're in, continues to experience really strong growth in the areas with the demand from our customers, either through getting many new customers or winning from competitors. North America, a really strong growth, 27%. As James pointed out, that's mostly from breeding field sites, which really means that we're selling the value proposition to the customers in that region. I will also highlight ANZ as an important region for us. Small in absolute terms, it's about GBP 500,000, but again, experiencing strong growth in the year over 25%. All of that has been flowing through to our adjusted EBITDA trajectory, which you can see has been pleasingly moving in the right direction. We continue to drive that EBITDA to GBP 2.3 million in the current year. That is a balance between growing our revenue and investing in the business. We want to continue to invest in the business to ensure that profitability for the long term continues. That's something that we will be doing through FY 2026. To support the investment in the business, you know, we have a strong balance sheet. We continue to invest in our software to make sure it's the most up-to-date, most performant that it can be. We've also, for the first time, done an initiative for our tax asset recognition, which really underpins that actually the trajectory of the group is in the direction of taxable profits. Therefore, profitability is what we're expecting to continue to see in the future. Cash at GBP 3.9 million, slightly down on prior year, but that was simply due to timing of customer payments in Q2 of the year. We extended our banking facility with HSBC up to 2027, more for flexibility and liquidity should it be required. Actually, we are projecting our cash to be cash neutral for the year. I say in the current year, we are cash generating from our operating activities. We expect that to continue to grow going forward. Even next year, we look to invest over the full year. We expect to be cash flow neutral from the period. All in all, a really strong position to project forward for our future growth. Thank you, James. Thank you, Ryan. Back to me before we get to questions. I spoke about the platform a bit. Something I didn't talk about a huge amount is the uptime of the platform. We've consistently been able to report north of five nines uptime. That means the platform globally is up and available 99.999% of the time plus. It's not uncommon for us to have quarters where we are 100% up. That's the top percentile SaaS performance when you compare that to similar sorts of size SaaS companies, particularly handling communications in many respects. That's really very strong. Our CTO, our engineering team have done a fantastic job to maintain that, which gives me slight nerves whenever I talk about uptime because you always know what's going to happen tomorrow. Really good. Other sort of platform product update highlights, trying to let investors know that actually maintaining the partner ecosystem in the way that it is and the integrations that we have, fantastic as they are, they are pretty deep with these partners. They take a fair amount of work for us to maintain those full integrations that we have. We've constantly, across our engineering roadmap, got various lines which are working with existing partners to either create new integrations to new products that they've got. They might have a new desktop, new single pane of glass, and they want PCI Pal to be part of that. We have to keep doing these things. We do need resources to do that, to keep working with our partners. That is the downside to it. The upside far outweighs that, which is that as we go through these cycles with partners, we get deeper and deeper embedded into their product. We build stronger and stronger relationships on the product and engineering side of the business, and we often call it our competitive moat in the business. The vast majority of our key partners solely work with PCI Pal, or certainly PCI Pal is the preferred if we're not the only one they work with. We'll continue to make sure that that's the case. We've completely majored on that. A fair amount of work goes into that. It's not a case of just signing them, onboarding, and off you go. There is a fair amount of engineering work that goes on in the background to maintain that, but it does protect us because our partners are less likely to, even if we were doing bad jobs, to want to go and speak to somebody else. We are more efficient, though, when we are onboarding new partners. I talked about RingCentral and I mentioned earlier standardization. I said I'd come back to it, so I'm coming back to it now. Top right box there, you've got standardization. We've been talking about standardization a little bit over the last 12 months. This in more simple terms is where we are trying to make what we do a little bit more out of the box, as you would have said. We want our key-to-pay, click-to-pay, speed-to-pay, payment gateway integrations, desktop integrations. We want it to be more standardized. In some aspects, we want it to be more API-led. We've been making progress along that path. The ultimate ambition for us over the next, probably we're probably only a year or so out from this, is for certainly those three current key products today to be completely available digitally through our website. Customers can sign up to them through our website, be deployed, and go live through our website. That's the building blocks we're moving towards. That standardization helps us across the business. Even if we're working with a big partner that we have more of a custom working arrangement, as we make things more standardized in terms of what we do, it makes us more efficient in everything that we do across the business, particularly when we're working with third parties, whether that's customers or direct. Longer term with standardization, it will also contribute to time-to-revenue reducing. We're expecting to see time-to-revenue, which is around five months at the end of FY 2025, come down further in FY 2026. It will get to a point where we don't need to be reporting our contracted ARR and our ARR as different things. We can just bring them together. The only reason we report on those two things is because traditionally we had a much larger gap. I remember the days we had a nine-month gap. Our gap today is half that. We expect actually to move quite quickly towards halving it again over the next 12 months- 24 months. That's good progress from the engineering team on that side of things. A fair amount of work is going on with data within the business at the moment. I won't get too bogged down on the topic, but single source of truth is a bit of a buzz phrase that businesses are using at the moment. We want to have all of our data available to us centrally in one place. We want all of our systems interconnected within PCI Pal so we can be optimally efficient as we use data across the business. We want to be able to use AI to its full extent within the business. Let alone working with conversational AI vendors or coming up with AI product features or enhancements to our own products, we want to be able to use and leverage AI within the business to maximize cost efficiency, drive more sales, all sorts of things that it can bring benefits to us for. We are doing that already, like many organizations, but if you've got full control of your data, then clearly you can be even more efficient from an AI perspective because data is key. One of the advancements we've made is with the data analytics capability that we've added to our reporting module. That's not going to move the needle in terms of material new products. That's where the adjacent products come into play. I would say this is more of a new business win or retention feature, but it's a good enhancement that we're able to make because of the availability of data and our reporting capabilities. Good progress in the year across the product roadmap, which in terms of bright shiny new things culminated in the fraud offering being launched. A number of enhancements across our partners who themselves have launched new products as well. I mentioned earlier about several of our partners launching their own conversational AI products, and we've completed integrations with those during the period as well. I mentioned the voice and chatbot API already, so I won't cover that in any detail again. To wrap up, current trading and outlook. As I said at the beginning, trading for PCI Pal is very good right now. I always complain about starting a year with a July and August, but I inherited that. It can be a slower start to the year, but we've not really seen that this year. It's been a very busy July and August at PCI Pal. Pipelines are good, not just in terms of new business, but also new strategic partners as well. We're very targeted in the organizations that we go after, and we've made a good start and excited to see what comes out of the product roadmap up to the end of H1 and then into the start of H2 as well. Good time to be at the business. Really feels like we're moving into a new phase with the company. Thank you for listening, and we've left plenty of time for some questions. Now, I'm going to handle those. Facilitate, not answer them all necessarily. We did have some submitted in advance. It was 12. Let's try and get through these. One of these questions I think we've already dealt with part of this. Did you have any partners that underperformed in FY 2025? I think I've covered that. Some partners you get up, some partners you get down, and you work through those things with the partners. You identify what the issue was and you try and move forward with it. We've gone into the year with all our key partners in good shape. The other part of the question was, do you have concentration risk? We don't have a single partner with any, if I phrase that another way, all of our key partners are sub 10% of our revenue. We don't have concentration risk, and as we're adding more strategic partners into the mix as well, you can see that that's not substantial. We do have one or two partners that have the potential to be a bit more concentration risk by nature of their customer base of their own. Those that have the very largest contact centers, there are some whale-sized deals out there. If that comes our way, then so be it. It may create a little bit of concentration risk, but nothing substantive by any means. The acquisition, next question, the acquisitions that the board were running, the rollover, were they along the same lines as CNP, which is Card Not Present, products, and other future offerings? M&A has come up a few times to us recently. What I would say is that we put M&A on investors' radar. We didn't really say that we were heavily being proactive to go after M&A. We have to consider it given the size of the organization we are now, and the board believe it's a strategic tool that we have available to us, just like anything else strategically as well. We've got a good platform for it, the team, the culture, everything else. We do need to be extremely cautious about it given the optics of the market today. We're also aware, and myself and Ryan are acutely aware of how distracting that can be within, yes, we've grown a lot, but we're still a GBP 20 million, GBP 25 million turnover company. We're still relatively small. It can be quite distracting. We'd be super cautious around it. The main focus, if we did look at it, would be strategic product opportunities. I can tell you that we're not spending any real time proactively looking at that at the moment. It's something that we have to have, that we have available to us. It's something that we should consider if we think so. Nothing really proactive around that. I've listened, sorry, some of these are quite long. I've listened to the interview with James with Edison, where he talks about all of 4C being difficult for a growing company. Summarizing, there are many software companies delivering significant growth profitably. I think one of the key points, which is hindering a better share price performance, is why a company which has now scale can't be more profitable. It's really questioning a comment that apparently I made on the Edison interview about rule of 40. I think perhaps I misstated that. What I would say is that we're, given our size and given our inflection points, I feel that we're very sensitive to the rule of 40. If we decide to invest what really is not a huge amount of money, if you consider some of the private equity money going in some businesses or venture capital going inside of some businesses, we're investing under GBP 1.5 million. That can push back our rule of 40 ambitions somewhat. We do become quite sensitive to that. What I will say is that rule of 40 is a metric that we measure internally. It's in our own internal forecast of where we expect, when we expect to get to that place. I do know that when we look at the peer group on AIM, that PCI Pal is one of the fastest growing organically. There are very few ahead of us. There are others ahead of us who are growing through acquisitions. We're talking purely organically. I think we're doing a lot of things right. In terms of rule of 40, our aim is we'd like on the current plan to be hitting rule of 40 again within about, getting to that within about three years' time. It's broadly where we would expect to get that based on the current trajectory. That's very much based on that plan. There's a question here I've been asked about our departing CISO, which I will summarize. It's a very long question. The last CISO, PCI Pal appointed a new CISO in August and never mentioned it. The last CISO, Jeff Forsythe, has been with the company for 26 years. Why no thank you for the number of years' service as CISO at the time of the change in August? Why didn't the chairman thank him like he has Jason Starr? I will deal with this question because there's a sort of air of, I don't know, it kind of goes against our culture a bit, really. I want to make sure that this comes across in the right way. It's quite low level, but Jeff and I have a very good relationship. He was thanked publicly in my quotes in the CEO report or on the front page of the accounts. This was the most impactful time to do it. Doing a standalone RNS reach to announce the retirement of somebody that's not on the board and actually not in the SLT is not considered appropriate within the business. I think what matters more to Jeff, and I know some of you know him quite well from patent case and stuff like that, is how personally I thanked him and how the business has thanked him over time. Do bear in mind we've had a very good transitionary period with Royston coming in as well. Jeff is still on a consulting contract with us. We've got his retirement meal just next week, actually, which I arranged personally. Please don't be under any illusions that Jeff has not left on his retirement without our huge thanks. He was an incredibly valuable part of the business, even the business before, which made up a lot of that 26 years. Acquisition is how we're getting on. I think there's any more in the chat. Yes, we'll take this question. There's a question in the chat, which I read when you were talking, Ryan, so I'll summarize it. It's effectively asking that isn't PCI Pal's unique proposition that it joins calls, it breaks into a call at the point that there's a payment and therefore is able to isolate the payment data at the point that a payment is required. Therefore, if that's not a human involved in the payment, i.e., a human agent, and you actually have a bot involved, that PCI Pal's value proposition is not relevant at that point. Probably the easiest way for me to respond to that is to say that a voice bot is really not much different to an IVR. This is an interactive voice response system. This is press one for this, press two for that. It's just far more sophisticated and intelligent. We've been providing, and it's very relevant to IVR systems, secure payment systems to IVR. Whether it's an agent involved or an IVR, PCI Pal is entirely relevant. The reason we're relevant, and I would draw your attention to the value proposition that we summarized for conversational AI vendors in the CEO section of the report, is because we take the environment completely out of scope. Actually, the human agent is the least of the worries of the contact center in that business. A human agent can really steal very few card details. When it comes to card data security, it's more about that data that goes into the systems where it gets sent. It's in the network, it's on the keyboard, it's going all over the place. That's more the concern. Actually, a conversational AI platform has the same issue as a CCaaS platform. It has the same issue as a contact center. Hopefully that answers the question. The final one here is I've been a shareholder for a long time. You've performed very well and are now showing profit for the first time. I'm surprised that the share price is not higher. Can you get more coverage in the financial press? This has been a bit topical really, but we plan to be as proactive as we can be over this financial year. You may have noticed that from the trading update that went out, we're trying to get more analyst coverage going. Although I'm very cautious to a degree to assess what the results are of that because it's very time-consuming, particularly for myself and Ryan. Does it move the needle? You will see that we're investing more time in that. We've got a few investor events coming up as well that we're going to be doing. If we don't see return on that time investment that we're making, then we need to assess that against the time that could be spent running the business and beating our numbers. That is ultimately critically what we need to be doing, I think, to move the price forward. The best thing we can do is make the business deliver, right? Hopefully that clears that one up. I think that's all for the questions today, Tom. Yeah, great. Okay, super. Thank you, James. Thank you, Ryan. Could I ask investors not to close this session as you'll now be automatically redirected for the opportunity to provide your feedback? If anyone has further questions or would like additional information on PCI Pal, please do get in touch via pcipal@wallbrookpr.com. Many thanks for attending today's presentation, and thank you again to the presenters. Thank you, Tom. Thank you, everybody.