Morning, everyone. We're gonna get started with our next presentation of the day. I'd like to introduce Doug Gaylor, President and COO of Crexendo. Welcome, Doug. Thanks, Tina. Greatly appreciate it. Thanks for coming out. Some of you have heard the story before, some of you haven't. I'm just gonna run through the slide deck, and then we'll open up to some questions- and- answers. Really, really excited about the growth and the trajectory that Crexendo's on. If you've been to LD Micro for years in the past, you know, we've been a loyal supporter of LD Micro, been out here for I think eight or nine years in a row now. The story's changed dramatically and changed for the better. Eight years ago when we were first started, presenting here at LD Micro, we were probably a $10 million or $15 million company losing money. This year we're on track to do $100 million in revenue and have been profitable, GAAP profitable, for 11 straight quarters. Great story to tell, excited to tell you guys more about us. A safe harbor statement that I'm sure you've seen all week long. What do we do? Crexendo is a unified communications as a service company, a cloud communications company, basically telecom services using the internet as the backbone. Basically every business in the country has a phone system, and most of them can benefit and need our services. We are pretty unique in the fact that we offer our cloud communications in two flavors. We offer it in a wholesale offering, and we offer it in a retail offering. On the wholesale side, we take our software package, our software technology, and we offer it to other telecom companies that they in turn, buy it from us, and they can put it into their data center. They can host it with us on our Oracle Cloud Infrastructure, hosted infrastructure. Then they basically white label it as their own, and they sell it as their own. In that respect, we are the third largest software telecom platform provider in the country behind Cisco. Cisco bought BroadSoft about seven years ago. They're the number one platform provider in the industry. Metaswitch is the number two platform provider in the industry. Metaswitch was just recently sold by Microsoft about a year and a half ago, to a private equity group, Alianza in Salt Lake. They're the number two platform provider, and Crexendo is the number three platform provider in the country. We're also the fastest growing platform provider in the country because right now we're taking market share from number one and number two. Cisco, when they bought BroadSoft, really hasn't done a lot with the platform in the last six years. We estimate that Cisco's got over 1,000 licensees using their platform out there. Over the course of the last three years, we've taken a lot of Cisco licensees and moved them to Crexendo because, one, we've got a better platform, we've got a better roadmap, and most importantly, a lot less expensive than Cisco's infrastructure. Same with Metaswitch. Microsoft, before they sold Metaswitch, two years ago, end-of-lifed the product. They did a complete 180 and decided, "Well, we're not gonna kill the product. We'll just sell it off." They sold it off to Alianza. What that did is it created a lot of fear, uncertainty, and doubt with the 800 or so licensees that have the Metaswitch platform, and that again created a lot of opportunity for us. In the last three or four years, we've brought over a lot of Cisco licensees and a lot of Metaswitch licensees over to our platform. In fact, in Q1 of this year, we brought on five new software licensees. Of those five new software licensees, two of them moved over from Metaswitch, and that's after six of them moving over from Metaswitch last year. We're seeing a lot of traction taking from number one and number two. We currently have 245 licensees using our platform, fast-growing, 28% organic growth in 2025. We're seeing a lot of traction there. Once they put a platform in with Crexendo, it's a very sticky customer. Our churn there is almost negligible. When we put in a platform, these 245 licensees that we have, you know, they range anywhere from a couple of million dollars in revenue to the largest, which is over $100 million in revenue, actually larger than Crexendo. When we look at our licensees, they span the gap, those 245 licensees from small to mid-size to large. They're growing as well. In Q1, we had nine upgrade orders. Those upgrade orders, when our licensees continue to grow, and most of our licensees are growing nicely, those upgrade orders are pretty significant. The nine upgrade orders that we had in Q1 from our existing licensees, because they were expanding their platforms, the average transaction on that was about $600,000. We're seeing great traction there. That's the software side of the house. The bottom part of the slide here is the retail side of the house. The retail side of the house is where we sell our solutions directly to end user businesses, small and mid-sized businesses, in a retail transaction. On that side of the equation, we compete against companies that you probably have heard of, RingCentral, 8x8, Vonage. Those are the traditional cloud players, and then a lot of the legacy players as well, the Avayas and the Mitels of the world. Very competitive marketplace, but we're growing there nicely as well. In Q1, we had 15% organic growth just in our retail division, and that's pretty significant because if you look at our competition, our competition, the Zooms and the RingCentral and the 8x8s of the world, you know, they're growing at low single digits. How do the two segments come together as one within Crexendo? At the end of 2025, 44% of our revenue came from the software side. That's the wholesale side. That's where we sell our licensees. Forty-four percent of our total revenue, and for 2025, we had $68 million in total revenue. 44% of that came from the software side of the house, 56% of that came from the retail side of the house. Those numbers are gonna change dramatically this year because we just did an acquisition in March of one of our licensees. We're taking one of our larger licensees, and we're gonna move that revenue from the software side, the wholesale side of the house, to the retail side of the house. That acquisition, and I'll talk a little bit more about it in a few slides, but that was a $26 million revenue acquisition that was very accretive right out of the gate. You can kinda see that model that we've got the wholesale side, very, very consistent, strong margins, and the retail side. Our growth strategy is moving those licensees through an acquisition strategy from the wholesale side to the retail side. I'll get a little bit more into that as we go through the presentation. Combined between the retail and the wholesale side of the house, we supply over telecom services to over seven million users across the globe right now. That's a pretty significant number. When I did this presentation, you know, seven years ago, eight years ago, you know, we had 100,000 customers. Now we've got over seven million customers on our platform. Financially, how does the financial picture look? Company's growing and growing rapidly, but most importantly, and very unique in the telecom industry, we're growing profitably. If you look at it, a 182% revenue increase over three years. We finished last year again at $68 million. In Q1 alone, $20.7 million in Q1. That included one month of the acquisition that we just did. If you look at that one month included in our numbers, 29% growth year-over-year for Q1. You take out the acquisition, we still had 15% organic growth in Q1, really strong organic growth. Q1 GAAP income down to $600,000. That was down from previous year, that $600,000 still GAAP profitable for the quarter. That included our acquisition costs. The acquisition was $26 million in revenue. We had $800,000 worth of acquisition costs, $400,000 worth of intangible amortization costs. All of that's included in those numbers, to still pull out GAAP profitability shows you how well the business is run. Non-GAAP net income for Q1, $3.3 million, adjusted EBITDA $3.2 million. Really strong metrics. The acquisition that we did, which we'll get to here in a moment, perfect acquisition for us because very accretive, and you'll see that when I get to the next slide. The segment KPIs. On the wholesale side, our average wholesale licensee, 245 licensees, our average licensee is paying us about $7,700 a month. Very consistent revenue stream. 73% of the revenue that we get out of that segment is monthly recurring revenue, so locked and loaded. Very low churn, as I mentioned, 0.1% on an average monthly basis. You know, that's less than what, you know, 2% on an annual basis. Very low churn, very strong margins on that side of the equation. On the retail side of the house, those small and mid-sized customers that we sell on the retail side of the house, the average retail customer is paying us about $350 a month. That works out to about $18 per seat or per user, okay? When we look at that side of the house, again, strong recurring revenue, 77%. A little bit higher churn. Small and mid-sized businesses get acquired, they go out of business, whatever the case might be. You see a little bit higher churn, but that's still one of the lowest churns in the industry. Most of our competitors are double-digit churn on an annual basis. That works out to a little bit less than 9% on an annual basis. How do we continue this growth? Again, going from $20 million a few years ago to $60 million, now from $60 million, we're on a $100 million dollar run rate now. You know, I anticipate that we'll be a $200 million company in the next four to five years, and that's through a combination of organic growth and inorganic acquisitions. If you look at the organic growth rates that we had in at the end of 2025, 27% on the software side of the house, 6% on the telecom side of the house, and then those inorganic acquisition opportunities, and those opportunities are tremendous for us. Those 245 licensees, after we did the acquisition in March, you know, I had a half a dozen licensees calling me up the next day saying, "Hey, great acquisition. You know, we'd like to talk the next time you guys are ready to pull the trigger on another acquisition." We've got them queued up in a roll-up type fashion to continue the growth on the top line and the bottom line. International markets growing at 44% in Q1, it's not a material part of our business right now. It's about 5% of our business at the end of 2025, we see tremendous opportunity. We only do the wholesale side of the telecom services on international basis, we don't do any retail on the international basis, we see great growth and great opportunity there. Again, those new software licenses. On the wholesale side, we added 14 new logos in 2025. We've already added five in Q1 of 2026, so we're seeing tremendous opportunity for growth on the software side of the house. The acquisition. Again, when we look at the acquisition model, it's a great model for us because these licensees, many of them have been with us for a long time. The acquisition that we did in March was one of our licensees in Dallas, a company called ESI. They've been around for 38 years. They've been a licensee of ours for 14 years. They were doing $26 million in revenue, so it's a great acquisition for us. You know, combined, if you look at the pro formas, we just put out the pro formas, you know, $93 million pro formas that we put out if we looked at 2025. Going forward, you know, we anticipate we'll be at a $100 million run rate at the end of Q2 or Q3. Really strong growth there. It was a profitable acquisition for us. The nice part about and I like to call my 245 licensees my stock fishing pond. From an acquisition perspective, you know, I can look at my acquisition opportunities out there, and we actually looked at ESI about three years ago, and it wasn't ripe for us. It wasn't ripe at the time because they were a little top-heavy, they were losing money. We went back to them and said, "Hey, we'd love to acquire you guys, but you gotta clean up your act a little bit. You're top-heavy. Cut down some of your staffing, get to profitability, then come back and talk." That acquisition was a great acquisition because they did exactly what we asked them to do, and now it's accretive from day one out of the gates. Purchase price, $35 million. We purchased that with $27 million in change in cash and about 7.5 million in stock. Great acquisition for us. We look at that, we paid 1.35 revenue for a profitable accretive acquisition. That's our model going forward to be able to cookie cut these opportunities just like that. The pro formas, I'm not gonna strain your eyes here, but again, very strong pro formas. These are out in the form 8-Ks that we put out two weeks ago. You can look those up, but very strong combining these two companies together. Not only do we see the opportunity to grow organically, we see the opportunity to grow inorganically, the opportunity for growth in this segment is still tremendous. If you look at the U.S. today, only about 60% of the businesses in the U.S. are on the cloud. 40% of the businesses in the U.S. aren't on the cloud yet. They're still using older premise-based equipment from Avaya and Lucent and Nortel and Mitel. It's not a matter of if these businesses move to the cloud, it's when. Over the course of the next four years, you know, Gartner shows that that number's gonna go from 40% down to single digits, there's still tremendous opportunity for growth in the space with people moving from older premise-based technology to the cloud. On top of that, you've got the opportunity for us to cannibalize from other cloud providers, the RingCentrals, the 8x8s, the Vonages of the world, we're doing a great job of taking market share away from those guys as we continue to grow organically at 2x or 3 x the pace that they are. Still a lot of opportunity. Again, as I mentioned internationally, tremendous opportunity on the wholesale side. We're selling our software platform in countries, English-speaking countries across the globe. We just put our first opportunity down in South Africa. Why is that important? As telecom businesses out there realize their infrastructure is weak, our relationship with Oracle Cloud Infrastructure allows us to bring up an instance in any place in the world within a matter of days. We sold an opportunity in South Africa. We never would have been able to sell that prior to our relationship with Oracle. Our Oracle Cloud Infrastructure hosting allowed us to bring up that opportunity in South Africa in the course of a week. Tremendous opportunity for growth there. Why do people pick Crexendo? Not only do we have a great roadmap, we've got a great product, great software infrastructure, a lot of APIs that allow applications to be built on it. We're gonna talk about AI here in a moment. Most importantly, it's customer service. We continue to rank number one across the board from a customer service perspective. Just in the spring of this year, we're ranked number one by real customers, and this is with G2.com, which are surveys that are independently verified by G2, which is the leading website for technology surveys out there. We continue to rank number one, number one in 18 different voice categories over the course of Q1. Switching modes to the next catalyst. AI is gonna be the next revolutionary change for telecommunications. If you think about the slide on the right there, you know, I've been doing this for, I'm gonna date myself here, but 37 years in the telecom industry now. When I first started out in the telecom industry, it was analog telephone systems, premise-based systems, and then we moved to digital. After digital, the internet came around, and all of a sudden, Voice over Internet Protocol became the new standard. Voice over Internet Protocol was the capability to have a remote phone working at your house over your internet connection. All of a sudden, Unified Communications became the norm. Cloud communications became the norm. Mobility came into play. All of a sudden, once I had the Cloud communications, mobility was work from anywhere. You know, COVID was, you know, the silver lining for COVID was that it was really truly a great opportunity for people that realized that, hey, working from home became the norm. That's what happened with mobility and Unified Communications, is that all of a sudden, the opportunity grew for us. Collaboration came. You know, prior to COVID, nobody even knew what a Zoom meeting was. You know, you had video conferencing, but it was only used in corporate boardrooms for Fortune 500 companies. Now it's an everyday feature that everybody uses consistently. Collaboration was the next big step a few years ago, and now artificial intelligence. With artificial intelligence, that's the next driver because for small and mid-sized businesses, they want technology that can help them be more efficient, more productive. What do we do from an AI perspective? We've already got applications that we've been selling for over a year now with AI, and we just introduced one in January for our AI receptionist, which is really just selling off the charts right now. Our older AI technology refers or revolves around call recording, revolves around AI studio applications. What does that mean? Call recording. Call recording's been around for phone systems for 30 years now. That's recording all the conversations in your customer service department or your sales department, or for all of your employees for that matter. What AI does now is that previously before AI, if I had 10 people in my contact center and they all handled 50 calls a day, at the end of the day I had 500 calls that were recorded. Then I'd have to go in and play whac-a-mole to figure out which recordings I wanted to listen to from a quality assurance perspective. Now with AI, I can record all those conversations and AI does a call summary for me, and at the end of the day I can say, "Hey, only send me the recordings where somebody used a profanity or somebody had a bad sentiment analysis," meaning they raised their voice or they said that they were gonna fire us. Now at the end of the day I get applications or I get recordings that are specific to what I was looking for. Those are great tools. Then we've got other applications for conversational AI in the contact center and AI studios that allow you to go in and build your marketing on-hold messages automatically using AI. Our most exciting release to date for AI is our AI Receptionist that we released in January. The AI receptionist takes the place of having an auto attendant. An auto attendant that used to say, "Press one for this, press two for that, press three for this," didn't really give you any information. It just allowed that call to go to a department. Now with an AI receptionist, I've got an application that can answer all those calls, answer frequently asked questions, and even go down to the depths of setting appointments. As an example, I'll use an example that we just recently sold in Phoenix. I'm in Phoenix. That's where the corporate headquarters is. We sold a 16-station air conditioning company. The air conditioning company had, you know, maybe 20 employees. Of those employees, 10 of them are technicians driving around town. If you know Phoenix, you know that pretty much from this time of year for the next four months it's gonna be triple digits and it's hot as hell. If your air conditioning goes out, you call an air conditioning company and you need somebody to come out that minute, that day. If you called into an air conditioning company and somebody didn't answer your call or put you on hold for five minutes, you'd hang up that call and you'd call the next air conditioning company 'cause you just need somebody out there quickly. Now with an AI Receptionist in that same example, that customer only had two people that answered calls. If I pressed one for sales or support, I would go into a queue and I'd be on hold for a couple of minutes. We went to the AC owner and said, "Hey, what if we gave you an AI receptionist that can answer calls and basically have a conversation with your customer calling in to say, 'Hey, thanks for calling Doug's AC Company. How can we help you?' 'I've got an AC unit, it's not working.' 'Okay. Is your AC blowing air? Is it not blowing any air? Is it blowing hot air?' 'It's not blowing any air.' 'Great. What kind of air conditioner do you have?' 'I've got a Carrier air conditioner.' 'Great. We handle Carrier. Can we get a technician out to see you today?' 'That would be great. Can I get somebody out here immediately?' 'I can get somebody scheduled at 2:00.'" All of that can be done through an AI agent. Now I can go to that business owner and say, "Now I can handle 10 calls at a time, and the AI can schedule those meetings automatically for you." Then the AI can actually dispatch the technician, send out a text to the technician and say, "Here's your next meeting." Great opportunity. I mentioned earlier our average retail customer, $340 a month. That application adds about $150 a month to their bill, so now I can increase that average revenue per account by about 40%. Pretty significant. Last two slides and then we'll wrap it up for some questions. You know, I'm telling you how great we are. We continue to win great awards, so independently verified on what we're doing out there. How do we continue the growth? Strong revenue growth, great gross margin growth, tremendous cash flow. We did that acquisition with $27 million cash. We didn't have to borrow any money to do that. And then in Q1, you know, we've got $2.5 million in free cash flow in Q1, very strong balance sheet. Finally, last slide, and then we'll open up for some questions. Why Crexendo? You know, all the reasons that you see up there. Tremendous growth, tremendous growth opportunity. You know, we continue to grow the business. Virtually no debt. Actually, we did take on a $5 million term debt just last month, I need to update this slide because we just closed on that two weeks ago. That $5 million was just for future acquisitions. We had Q1 $7 million cash on hand. We raised an extra $5 million so that we can queue it up for the next acquisition opportunity, 'cause we've realized that there's tremendous growth there. With that, I'll open it up to questions. Again, we think it's a great opportunity. Just since we announced Q1 results three weeks ago, stock went from $6.50, three weeks ago to trading today about $9.75. We're starting to see the reaction to investors realizing that, hey, we're growing, we're doing exactly what we said we were gonna do, and that commitment is paying off in a nice increase in our stock value. Yes. Seeing where you stand, it seems like you're at the peak or what I would say, you're one of the stocks that keeps ringing at this point. Should we sell our losers and buy your winners in your situation? What do you see as a potential threat to your overall success that you've had so far? I mean, y ou've had many years of being in business, and you have made acquisitions that have accreted, good value to the all the investors. What's, what's next and what's gonna keep you in the mind? Again, great question. The momentum is organic growth. We're gonna continue to see that. Strong demand for our products. Acquisition, as I mentioned, after we did that last acquisition, I've got licensees that already have relationships with me queued up. We're gonna take our time, make sure we get the first one integrated. You know, pulling off another acquisition, I can do fairly quickly. If I can get these acquisitions rolling, you know, that gets us from that $100 million to $150 million to $200 million over the course of the next few years with organic growth. That compounds. We're gonna do these acquisitions. They're gonna be accretive. That acquisition we just did was accretive in the first month, y ou know, even after taking the acquisition costs and the intangible amortization costs out, still profitable. we're gonna continue to just rinse and repeat and continue to grow the business. Okay. Thank you. Other questions? Yes. How's the reception been, kind of from your customers to that AI? Fantastic. We introduced it mid-January and rolled it out to our sales floor. Started selling it right out of the gates. We've got about 100 paying customers on it now. We're doing a freemium model where we allow customers to use it free for 30 days, and then we charge them after that. The take rate is great. We didn't have KPIs after Q1 because it was only a month's worth of implementations, but we'll have KPIs going forward. The other nice part about it is that not only does it add maybe $150 a month to the account, but it's a usage-based application. One of our customers last month had $900 worth of overage charges for the AI, but they weren't upset at all. They loved it because that $900 took the place of somebody that was answering calls that they were probably paying $40,000 or $50,000 a year to, and now that person can be more productive in their business. Follow-up to that. Yep. Did you guys develop your own software that you rolled out, or did you use a third party? Yeah, another great question. We've got Our system's very open. We've got over 45 vendors and developers developing applications. 12 of those developers are working AI applications for us. We didn't have to develop in-house. We had a third party develop it, we've got great gross margins on it. We gave them the specs, told them what we wanted. They built it. Time to market was great, and now we've got great margins going forward. I'll follow up on the same question. Yep. With that, is there some sort of revenue share with that third party developer, or is it one-time cost or? There is. Out of the 45 vendors that we have in our EVP program, which is our ecosystem vendor program, most of them are on a revenue share type basis. You know, it's a very strong revenue share opportunity for us. On the application for the AI receptionist, our cost is about $0.08 a minute. We charge $0.25 a minute, so we've got great margins. Very solid. Yeah. Last question. What do the next 24 months look like? More ESI size licensee conversions, different shapes, and how do you keep other licensees comfortable while you execute all of these? Yeah. Again, another great question. The next 24 months is more acquisitions. Those acquisitions, I'd love them all to be the larger size. Some of them might be in the smaller size range. Our average licensee is probably in the $10 million-$15 million range. We're gonna, again, rinse and repeat those opportunities and make those very accretive. I'm getting the hook back there, we can take that offline and follow up on the question. Thanks for coming out. Hope you enjoyed what you heard.