Good morning, everybody. Deanna Jurgens is here to present Armanino. Thank you. Great. Thank you. Hi, everybody. How you doing? Ready for the sprint over the next couple of days? Well, I'm really excited to be with you all. This is my first time at MicroCap, second time for our company, really excited to share some information about who we are, and look forward to our discussions with some of you over the next two days. I'm going to start with the answers to the test. I'm going to tell you three things about our company that really makes us special and unique that I hope you walk away with today, and I'll talk a little bit more about it as I get into the slides. The first thing is Armanino Foods is a frozen pesto company in the food service space, and we have over a 60 share of the category. We are by far the number one branded name in food service. As I think about this, I came from PepsiCo. I spent 16 years there. It's brands like Doritos, Mountain Dew, Gatorade. Those are the type of brands that command 60 market share. It really shows you our dominance in the food service space. That's number one. Number two is the strength of our balance sheet. One of the things that I loved about this company when I first came here was the consistency of our top-line growth organically over the years. It really shows you we weren't doing anything. We weren't buying things. We weren't artificially propping ourselves up. We were consistent in our top-line growth over the last 20 years. It's not just top-line growth. We are an incredibly profitable organization, and one of the things that I'm really proud about our Q1 earnings, our gross margin was almost 50%, which is quite high in the consumer packaged goods space. We have operating margins in the low 30s. We have over $30 million worth of cash, and we have no debt. Again, when you think about consumer packaged goods, those type of financials, along with the consistency of our top-line growth, are very hard to come by. Why I'm here and what I'm really excited to talk to you guys about is our future. Sometimes you come into a company like this and go, "Oh my gosh, am I going to be able to make a difference? Can we sustain this?" We are just getting started. We have barely scratched the surface in terms of the opportunity and our potential, I am really, really excited to talk a little bit more about that with you. Those are the three things, share position, strength of our financials, and the opportunity for growth. I'll go into a little bit more detail. Here, I would say look in the upper right-hand box, you can see our share price over $10, our market cap over $300 million. Our dividend, we have given a quarterly dividend for the past 100-plus quarters, so very, very consistent with our shareholders. We have about 31 million shares outstanding. Latest financials. I want to take us back a bit about who is Armanino? Where did we come from? We are a founder-led business, the Armanino family immigrated from northern Italy, they came to the Bay Area. What they came with was two things, a know-how about farming and a basil pesto recipe. Their son went to college. He went to go work for Kraft Foods, learned how to commercialize products, he came home and he talked to his parents, he was like, "You know, I think there's something to this basil pesto recipe." Why this is so unique is at that time, you could not buy basil pesto. It was only something that was made at home. The Armaninos were the first brand to commercialize basil pesto, that is why we are the number 1 brand. This is the same recipe that we hold ourselves to today, quality, premium, consistency, clean-label ingredients. We have Armaninos on our board, it's very important to us as a company that they continue the legacy, what made Armanino so special. I really spend time with them to make sure that we are preserving the values that have really driven Armanino and who we are. The cool thing too about the farm is when they decided to create this basil pesto recipe, they sold the farm. Here we are all these years later, we still buy our basil from that same farm today. Kind of this full circle. This is where I talk about the opportunity, because you might have seen our sales were about $80 million. When you look at the opportunity globally with sauce, we haven't even penetrated this, yet we are the number one branded share. We should have a greater percent of that fair share. You can see over $200 billion in the sauce and condiment and dressing category and over $60 billion in the premium culinary sauces. I am all about getting our fair share of that. The other thing is, I spent the last year out in the market talking with our customers. For those of you that may know food service operators, they are all about managing profit. Everywhere they can save money to drive profitability is critical for them. What I bring them is a premium sauce that if they were to make it back of house, what I'm proud of is we not only meet that same threshold, but we often are superior to the homemade sauce that they make. We take away the labor, we reduce the costs because we drive it in scale, now more than ever, for these operators, they are looking for points of difference. They are saying: How do I bring consumers back into my restaurant? Well, a premium sauce like Romesco or Southwest Chipotle or Roasted Red Bell Pepper, add that to your menu item, and for not a lot of cost, you have elevated your menu. Customers, retailers, restaurants, they are ready for our sauces now more than they have ever been. This shows you a little bit about our portfolio. On the left-hand side is really our primary focus. We are largely a food service company. You can see we have our sauces, our pestos, our sauces. We have about 30 of them. We also sell pasta, and this is all frozen. We have an 18-month shelf life, so by the time it gets to the operators, they can thaw it, and they have about 14 days of shelf life. On the right-hand side is our retail business, which is secondary. It's less than 10%, I would say, thereabouts, of our revenue, but we do offer a full Italian meal, although to our consumers that they can buy not only our sauces, but meatballs and pasta together, and that is available at retail. As you take a look at how we distribute, how do we get our product out? On the left-hand side, in food service, we are carried at all of the major distributors. It's one of the things that our customers talk to us about to say, "I can get your sauce anywhere. Any one of my restaurants, no matter where they are in the U.S., they can get Armanino. Our competitors that are largely regional are generally only carried in Sysco or US Foods. We're in all of the big distributors. Last year, we made the decision to shift to one national broker. Before that, we were in a patchwork of brokers all throughout the U.S. Now Affinity represents Armanino Foods across the U.S., and we have 1,000 feet on the street. I have 1,000 people repping Armanino every day, going out, getting new business, expanding our distribution, and we are really, really connected as two companies in driving that growth. I'm very excited about that partnership, and we're already seeing the benefits of that as we go into this year. Over on retail, you can see where we're carried in some of the banners. What I would add to that is we are also now on e-commerce, so you can go onto a retailer's website to find us. We are in Club. We are in Costco, in their business centers. More emerging is deli. Back of house we're working with, which is kind of like food service, as they are doing prepared meals to make sure our sauce is available for them. Here is the opportunities for growth, and this is really where I am spending a lot of my time and focus because I think there is so much upside for Armanino as we have the next chapter of our growth. Starting with our pesto and our sauces. I shared that we have about 30 sauces today, but I would say that we're really selling four or five. All 30 of these sauces are incredible. The Artichoke Pesto I was having on a dish the other day, and I was like, "Oh my God, this sauce is amazing," but it's number 17. We are very focused on re-introducing ourself to our customers. Who are we? What is our capability? What do we carry? Every time I go out into the market with customers, we cut, which is we will have our sauce versus the competitive sauces. It blows my mind every time because we were in New York recently. They had a competitor, we had our sauce, we just have the sauce, we put it in a pasta, the sauce that they're carrying currently starts to oxidize on the pasta. It is literally turning brown while we're all standing there. The customer's like, "Oh my God, what is happening with-- Is this our sauce? Hey, Johnny, this is what we're carrying?" Then you see the Armanino. Flavorful, colorful. We have no preservatives. Their product had preservatives, and yet it was still oxidizing. You really see the light bulbs go on with our customers. We show them all the secondary sauces, that is really where the incrementality and the opportunity emerges. Very, very focused on expanding our breadth and our depth within our current portfolio, we are innovating. We just launched this month Calabrian chili. You guys might have heard of that. Very on-trend heat and spice, younger consumers are really looking for. It is just blowing off the shelf for us. The chefs, the culinary teams, they absolutely love it. We are continuing to push the envelope, monitoring trends, what is relevant, we are innovating in those spaces. Second is white space. This is what I call national accounts. This is tier 1 QSRs, think McDonald's, Yum, Chipotle, Subway, large national accounts. We have never played there, we should. This is where I've spent most of my career with these customers. I know what it takes to get in, I know what they're looking for, I know them. It helps us to get our foot in the door; I will tell you the early conversations that we have been having are incredibly positive. It's a longer sell cycle. It's a 12 -1 8- month sell. We're hoping to start seeing the national accounts emerge in 2027. Lastly is international. We have a business in Asia today, largely in Japan, that's just kind of been there for a long time, we've never really dedicated people to this business. I went out to Japan twice in the last six months. I met with our distributor, I got in the market, I met with customers. For those of you who have been to Japan, you might know that they love Italian food. It's everywhere. It's a really emerging business for us, but I brought someone in because I'm like, "We should be more than in Japan." He has worked for me in the past. He grew a business from 0 to $100 million in less than three years. He knows what it takes to succeed here. We are very focused on our international growth. This is closer in. While national accounts take a little longer, our international business, we can get there, one to two markets is my hope, by the end of this year. As I look at technology, as I look at how can we supply this business. We're out there, we're selling, we're getting new business, international, national accounts. Everybody asks me, "Deanna, can you supply it?" How can I manage cost? One is we've locked in our contract pricing on all our main commodities. I have cost assurance this year, which is really important because of the volatility of the market. The second thing is I ensured that we had supplier redundancy on all of our top ingredients. Should something happen, we have secondary sourcing where we can get access to ingredients. Third is I am leaning into the scale of Armanino. We are the largest buyer of basil. How can we use that to our advantage? The more we buy, the cheaper it becomes. We're really leveraging that. Technology for me is how can I be smarter, faster, and more efficient, and how can technology help us get there? When we take a look at all of these things combined, one of the things that we've been focused on, and as we've shifted a little bit from our retail side into food service, we spend less trade. I've been able to pour all that money back into profit, by taking it out of trade spend. You can see that Armanino, our trade rate there is about 49%, and I just showed a few of the consumer packaged goods comparable companies from a gross profit standpoint. You can really see the strength of Armanino, and the consistency of that margin. As I talk about technology and enablement, we have in our current facility in Northern California, we've spent some money to automate, buy new equipment, it's really helping us to produce more faster, quicker, I'm able to pull headcount out of our system, as a result of it. We are continuing to say how do we make sure that our current facility is working as hard as it can for us. That said, we've been in the same plant for over 30 years, and we're hitting a wall. As I go back to these levers of growth, I sit there and say: How are we going to supply this? Because we're almost at capacity. We recently announced a few weeks ago that we have signed a new lease, on a 91,000 sq ft property. This is compared to 24,000 at current. We have 91,000. We will be bringing all of our production capability under one roof. We are leasing a building, but we are custom building to suit for our needs. We are investing in the latest and greatest equipment, technology, AI. This facility that we just signed a 15-year lease, we have one five-year extension. This will enable us to triple our capacity. Not that we're going to be set up to do that initially, but over this period of time, we will have that ability to triple the size of the business. The other thing is we are funding this completely from our cash. We are taking out no debt to fund this new facility, and we continue every single month to bring more cash in. I feel very good about we're not just draining our cash position, but we're continuing to add to it. This is our snapshot on performance. You can see the graph over to the right, the continued sustainable top line with 2025 being a record year for Armanino. We had record sales. You can see over here on the left that our profit margin has continued to grow over the years at 44% in 2024 to 48% in 2026. Same thing with our operating margins in the low 30s. You can see our cash position continuing to increase. What I would tell you is we are a great bet. If you are looking for a place to invest, and you are looking for strength and stability and consistency and profitability, that is who we are. I have brought in a world-class team to help me deliver on these expectations. I feel so good with the team I have assembled, and that they are going to help me to deliver against these strategies for growth. Our CFO, Andrew, he just started with us at the beginning of the year. Brian Jones, real trusted ally. He has worked for me over the years. He is leading our growth strategy for the company. Then as I looked at national accounts, I hired someone who worked for these national accounts. She worked for Chipotle and Panera Bread, so she knows exactly what's required to be successful. Then Ehab, he has spent all of his career internationally. We worked together at Beyond Meat, and I think that he has already, in just a few short months, really showing what his capability and impact will be. Then Sarah Harris is my HR lead. She helped me assemble this team, Sarah is ensuring that we as a company have the development, the culture, and the talent to sustain this progress over time. With that, I will end where I started and just, again, three things for you guys. Number one is Armanino is the number one branded frozen pesto and sauce player, over a 60 share in this category. Our second-largest competitor sits at around 6%, to give you an idea. Number two is the strength of our balance sheet, not only from where we were, but my confidence in going forward. Number three, and most importantly, is the opportunities for growth. With that, I will open it up for a few questions if you guys have some. Yes. Yeah, it's a great question. First of all, we have set up an entire KPI financial metrics that hit every function, not only P&L, but operations, sales, talent. It's setting up the KPIs, but very clear metrics that we are working to accomplish. We review these every single month, and we look at where are we succeeding and where are we falling behind, so that as a team, we're very aware of progress. For me, what do we need to be doing if there are areas of concern? I will give you assurance that we have a very comprehensive reporting and KPI measurement. The second is a great question. Why California? When we started looking for a new facility, we looked all over. We looked at Nevada, we looked at Arizona, we looked at Texas, and we looked at California. What has happened of late in the last couple of years is a lot of businesses have left California. As we started looking at these surrounding states, costs have gone up significantly because of these other businesses that have gone there. Less access to buildings, cost of labor has gone up. I was really surprised. Yes, there's some tax benefits, but it was really offset by everything else. What's happened in California is there's a lot of empty buildings. The building that we were able to get, again, it's in Northern California, but in the Central Valley, brand new, it's been empty for five years. You can understand, we had a landlord that was very motivated. My cost per square foot from what I'm paying right now has gone down significantly. The Central Valley is an agricultural region, my access to talent and labor is much cheaper. Cost of living there is cheaper. As a frozen food company, my electricity is on a different grid, which is a 50% reduction from what I'm paying today. All of these things together were why we decided to stay in California. What is our shelf life? We are frozen. Again, we have full clean ingredients. When we make our product, within 90 minutes of production, we freeze it. That frozen helps us really capture the quality of that product. Then we have 18 months of shelf life. If it's going on a boat, it easily has the shelf life to take it. If I have smaller customers that want to do custom sauce, if they hit that minimum order threshold, we can produce it for them. Then they have 12 months to pull it and sell it. Then once they thaw it, they have 14 days to use it. They have 12-18 months to freeze and then 14 days once it's thawed. One last question. Yes. I rarely have people saying, "Deanna, when is those margins going to come down?" Great question, and I have stated that. Q1 was a bit of anomaly. We hit almost a 50% gross margin. Why that was is my U.S. food service business, we sold a ton. My international business was less. It was really a mix. To your point, and why I have guided towards more of the mid-40% is because as we shift our mix more internationally, national accounts, we will take some margin compression to get that business, but along with that, I'm going to get scale. What my hope is I'm going to be able to drive some of those efficiencies back into the system to manage my cost, but that's why over time, I think committing to mid-40% is going to probably be more realistic. Thank you, guys. Really appreciate it