All right. My name is Greg Burns. I'm the analyst at Sunodi, moderating IDT's presentation. I really want to thank them for participating in our September SmallCap Conference. From the company, we have Marcelo Fischer, the company's CFO, and Bill Ulrey, who heads up their IR program. They're going to run through a presentation, and then we'll get to some Q&A at the end. If you do have a question, just enter it through Zoom, and we'll get to as many of those as we can, time allowing. With that, I'll hand it over to Bill and Marcelo. Thank you very much, Greg. Thank you for all your work today. We've had great meetings, and I'm looking forward to the rest of the conference. Thanks to everyone joining us today. I'm going to run us through the slides, and then Marcelo and I will be happy to take questions once we get through the slides this morning. Please note that we'll be discussing our financial and operational results for IDT's third quarter of fiscal year 2025, and that's the three months that ended on April 30, 2025. We report our fourth quarter results on September 29 after the market close. Let's begin with some basics about the company. We're an innovative SaaS and fintech services company headquartered in Newark, New Jersey. We're a small-cap company with a market cap of about $1.6 billion, and that's an increase of nearly 80% over the past year. We're profitable, and we generate significant cash, some of which we return to investors through a regular quarterly dividend and opportunistically through stock repurchases. With our strong balance sheet, including $224 million in cash and current investments and no debt, we have considerable strategic flexibility. This slide is a look at our workforce. As you can see, we're truly global with technology, sales, and marketing dispersed geographically around the world. IDT operates six primary businesses, each serving an underserved community or B2B market. In today's presentation, we're focused on the three high-margin growth businesses listed on the left-hand side of this slide. That's National Retail Solutions, BOSS Money, and net2phone. Collectively, they're the primary drivers of IDT's top and bottom-line growth and value creation. On the right-hand side of this slide are our three largest businesses in terms of revenue. These sit within our traditional communication segment, which generates robust cash flows to finance early-stage growth initiatives throughout the company, fund our dividend, pay for stock buybacks, and build our balance sheet. Now let's dig into the first of our high-growth, high-margin businesses, National Retail Solutions, or NRS. NRS operates the largest point-of-sale platform for independent retailers in the country. We founded this business about nine years ago after having worked with the retailers that sold IDT's BOSS Revolution calling service for many years prior to that. Through these relationships, it became apparent to us that these mom-and-pop stores needed better technology to compete against the large retail chains, and we launched NRS to level the retail playing field. Our proprietary point-of-sale platform now provides these retailers with essential tools and services to help them manage their business more easily and profitably. As of July 31, NRS operated 37,200 active terminals in over 32,000 stores. Just to give you some sense of scale and comparison, the largest retail chains in the U.S. in terms of store count are Dollar General and Subway, with about 20,000 stores each. The primary addressable market for the NRS platform is independently owned c-stores and bodegas, liquor stores, and tobacco shops here in the U.S. Good data on this market is hard to come by, but we believe there are approximately 200,000 such stores in the U.S., meaning that NRS still has a robust opportunity ahead. We've been adding an average of nearly 400 new terminals net of churn per month over the past year. Even as we continue to expand our network, we are working to develop and deploy new offerings to gradually expand our TAM. NRS's recurring revenue excludes the one-time sales of point-of-sale hardware. Recurring revenues are generated primarily by three offerings. First, merchant services, which is predominantly generated by our payment processing service offered under the NRS Pay brand. NRS Pay enables retailers to accept credit and debit cards. Second, advertising and data revenue, predominantly sales of advertising inventory displayed to consumers on the point-of-sale's customer-facing digital screen. Third, SaaS fee revenues are monthly recurring fees for use of the software that drives the point-of-sale's functionalities. NRS's recurring revenue increased 23% year-over-year in the third quarter to $29.4 million and grew at a 70% CAGR from 2021 to 2024. The primary driver of the increase has been the expansion of our point-of-sale network to new retailers. In addition, we've been working to increase the monthly average recurring revenue per terminal. Recurring revenue per terminal in the third quarter increased to $279.79 per month from $271.79 in the year-ago quarter. That's up 3%. Now, let's look at the three revenue streams in greater detail. Over 90% of the revenue in our merchant services category is contributed by NRS Pay, which is now utilized by over 25,000 retailers. For Q3, the number of NRS Pay accounts increased by 31% year-over-year, more quickly than our terminal network. Over the past few years, we've introduced several premium NRS Pay plans to drive increases in revenue per account. The increases in the number of NRS Pay accounts and rising revenue per account drove a 37% year-over-year increase in merchant services revenue during Q3 to $20 million, and the four-year CAGR is 91%. NRS sells its large and growing in-store retail media and ad inventory, both through its direct sales efforts and through programmatic platforms. This vertical also includes revenue from sales of our POS's transaction data to consumer marketers. Advertising and data revenue is the most volatile component of our recurring revenue and the most seasonal. Revenue was $5.9 million in Q3, typically the lowest revenue quarter of the year, and totaled $31.7 million over the trailing 12 months. Full-year revenue has been approximately at this level over the past three fiscal years. Although advertising revenue is impacted by industry-wide factors beyond our control, this business offers abundant upside potential. Now, let's take a look at SaaS fee revenue. NRS retailers pay a monthly recurring charge for the software services that each active POS terminal utilizes. That MRC ranges from between $20 to $75. We've successfully increased the average MRC in recent years by migrating retailers to premium SaaS plans. The increase in the average MRC and the expansion of our POS network drove a 33% year-over-year increase in SaaS fee revenue to $3.9 million in Q3. The four-year SaaS fee CAGR is 51%. We expect continued strong SaaS revenue growth in the coming years. NRS's economics are extremely attractive. The only significant cost of sales, cost of goods sold, are for the terminals themselves. Moreover, approximately half of NRS's SG&A is fixed or semi-fixed, so the economics of the business will continue to improve as we grow. In Q3 of fiscal 2025, NRS generated $7.2 million in adjusted EBITDA and $31.1 million in total revenue for an EBITDA margin of 23%. Thinking about the performance of NRS in terms of the rule of 40, we achieved a 49% score in Q3, suggesting an appropriate balance of growth and profitability. To wrap up, NRS is a fantastic business, both operationally and financially, with an extended runway ahead. Now let's turn to BOSS Money. BOSS Money is our international money remittance business. It generates over 90% of the revenue in our fintech segment, which also includes much smaller early-stage fintech initiatives. When we launched our BOSS Money brand a decade ago, we leveraged our nationwide retail customer base, the BOSS brand, and our retail distribution network to build this business from the ground up. Today, BOSS Money customers here in the U.S. send their cash to friends and family in 50 countries around the globe. BOSS Money goes to market through two channels: digital and retail. Over 80% of transactions originate through our digital channel by customers using our highly regarded BOSS Money and BOSS Revolution apps. Our retail channel, where customers visit a BOSS Money retailer agent and can pay with cash, brings in large numbers of new, often unbanked customers into our BOSS ecosystem. Because our business is predominantly digital, our growth profile is closer to pure digital channel players like Remitly rather than traditional retail channel-centric remittance operators. BOSS Money is growing robustly in the dominant digital channel. Digital transaction volume increased 32% in Q3, while send volume, the total amount being transferred, increased by 40% as customers shifted towards sending larger amounts less frequently. Digital revenue increased 31% to $24.5 million in the third quarter. Our four-year annualized digital revenue growth rate is 27%. Although the money remittance industry is generally extremely competitive, we've been able to achieve and sustain one of the highest growth rates in the industry, primarily by leveraging the synergies of our customer acquisition and retention provided by cross-marketing BOSS Money to our larger BOSS calling and mobile top-up customer bases, or as we refer to it as the BOSS ecosystem. In fiscal 2025, we're spending roughly $15 million marketing the BOSS brand, primarily targeting the large populations of first and second-generation American immigrants from our core market corridors. Our marketing spend drives new customer acquisitions. Once we've onboarded a customer to any of our BOSS offerings, we are consistently able to upsell and cross-sell them. To give you a sense of the scope of this effort, last month we delivered approximately 50 million impressions to BOSS customers. In fiscal 2024, BOSS customers initiated 86 million transactions. This BOSS ecosystem is a unique reinforcing asset that significantly lowers our customer acquisition cost and increases our customer lifetime value. Looking ahead, we are pursuing a variety of exciting cross-marketing initiatives to build on our momentum. As BOSS Money scales, our unit cost structure continues to improve. We leverage our larger transaction volumes to cut better deals with payout partners while also optimizing our operating model through automation, AI-powered solutions, and more. The fintech segment turned adjusted EBITDA positive last year, and in the third quarter of this fiscal year, it generated adjusted EBITDA of over $5 million for the first time, and the adjusted EBITDA margin increased to 13%. Thinking ahead about BOSS Money's profitability, many of the public players in the money transfer space generate 15% to 25% adjusted EBITDA margins. We're working to achieve comparable levels of profitability as we continue to scale the business over the next few years. Now let's turn to the last of our high-growth, high-margin businesses, net2phone. net2phone is IDT Corporation's longstanding B2B brand, and it provides cloud communications services to businesses in North America and also the underserved South American market. Under the Unite brand name, net2phone's unified communications as a service offering is priced in differentiated tiers starting at $19.95 per user per month here in the U.S. net2phone's contact center as a service offering starts at $60 per seat per month in the U.S. Both these services are also offered in our South American markets, which comprise approximately half our total seats served. net2phone's solid growth and cash generation are a function of several strategic differentiators that, in their totality, insulate it somewhat from the competitive pressures in the industry. These differentiators include our focus on the SMB market and mid-market enterprises rather than on the largest multinational accounts. Secondly, a channel-centric approach that makes it easy for technology partners to price, provision, and service net2phone's UCaaS and CCaaS offerings. Finally, as I mentioned, we're uniquely focused on North and South American markets. Latin America remains an underserved market, and net2phone has prospered there. At the close of Q3 of fiscal 2025, net2phone served 415,000 UCaaS plus CCaaS seats across North and South America. Seats served increased 8% year-over-year, driving a 7% increase in subscription revenue. On a constant currency basis, revenue increased 11%. net2phone's third quarter of fiscal 2025 adjusted EBITDA jumped 50% year-over-year to $3.2 million, while the adjusted EBITDA margin increased to 15% from 10%. Margin expansion has been and will continue to be a key long-term driver of net2phone's bottom-line growth. The company has benefited from operating leverage, growth of its higher ARPU CCaaS offerings, and tremendous financial discipline to drive its bottom-line improvement. We expect to continue to drive ARPU and margin expansion in the coming year by gradually migrating customers to premium plans and offerings featuring AI-powered agentic solutions. To that end, net2phone recently launched its AI agent, a scalable virtual assistant, providing exceptional customer experiences across sales, support, and administrative tasks. Early customer feedback has been positive, and we're excited about the potential both to increase ARPU from our current customer base and to accelerate customer acquisitions. Next, we'll look at our traditional communication segment. IDT Digital Payments, BOSS Revolution calling, and IDT Global carrier services, along with smaller offerings, comprise our traditional communication segment. In aggregate, this segment generated $867 million in revenue over the trailing 12 months, equal to 71% of IDT's consolidated revenue. Revenue from the largest of these businesses, IDT Digital Payments, mostly consists of sales of mobile top-up, a service enabling customers to transfer airtime and bundles of airtime, messaging, and data to international and domestic mobile accounts. Revenue from this business has been relatively stable over the past year, while its contribution to bottom-line profitability has increased significantly. Our BOSS Revolution and IDT Global carrier services businesses are legacy businesses in the pay-minute international long-distance calling industry, which is in long-tailed terminal decline. As you can see, we're able to increase traditional communications' adjusted EBITDA contribution significantly over the past year, even as revenues have decreased. The improvement was largely a function of our work to streamline and reduce operating expenditures and to introduce new pricing strategies in IDT Digital Payments. Strategically, we are very focused on expanding IDT Global's digital prepaid platform to capture growth opportunities across eSIMs and eGift offerings, while maximizing the cash flows from BOSS Revolution and IDT Global carrier, even as their top and bottom lines decline with the pay-minute market. Now, let's wrap up by taking a quick look at our recent consolidated results. In fiscal year 2022, the segments that held IDT's three high-margin growth businesses contributed 39% of the company's consolidated gross profit. By the third quarter of 2025, that percentage of gross profit from the growth business segments had risen to 61%, helping to drive IDT's consolidated gross profit margin to a record 37.1%. That's a 470 basis point increase compared to the year-ago quarter. In Q3 of fiscal year 2025, the high-growth, high-margin business segments had an average gross profit margin of 75% compared to 19% for traditional communications. That rotation of the revenue mix to the growth businesses should continue to drive gross margin expansion for the foreseeable future. IDT generated $120.4 million in adjusted EBITDA over the trailing 12 months and we expect to generate at least $126 million for all of fiscal year 2025 as our high-margin growth businesses continue to gain scale. That's a significant step up from the $89.7 million we generated in fiscal year 2024. IDT has also built a very strong balance sheet, including $224 million in cash, cash equivalents, debt securities, and current equity investments as of April 30, again with no debt. Our strong balance sheet provides us with considerable strategic flexibility, and we routinely scout and evaluate M&A opportunities across our businesses. IDT returns value directly to our stockholders through both our regular quarterly dividend, which we increased from 5% to 6% to $0.06 per share earlier this year, and through opportunistic stock repurchases, which totaled $21 million over the last year. That wraps up the presentation. Now, Marcelo and I would be happy to take your questions. All right. Thanks very much for that. Maybe we could start off with how immigration policy might be impacting NRS and BOSS Money. Specifically, there was a question in the chat about the remittance tax proposal and the Big Beautiful Bill. You're muted. Good morning, everyone. It's OK. I'll take that. There is no question that the immigration policy is impacting all money transfer operators in this country. In the case of IDT Corporation, I think we are very well positioned relative to our competitors. The primary reason for that is the fact that we are, first and foremost, a digital money transfer operator. More than 83% of all of our transactions are done via our BOSS Money app. In order to do transactions digitally, customers must have either a debit card, a credit card, or an ACH bank account. Most of our competitors who are on the brick-and-mortar retail channel side, the Western Union, the MoneyGrams, the RIAS, for them, their customers can go in and pay with cash. We believe that most of the immigration impact targeting illegal immigrants is affecting much more those channel retail operators than us. We see that by the fact that a lot of these competitors are seeing weak to negative growth in their businesses while we continue to grow at a 30%+ clip on our digital side. I think that we are weathering this impact on immigration fairly well. In terms of the one, Congress approved a 1% remittance transaction tax. That tax will be kicking in on January 1, 2026. That tax relates specifically to remittances being originated with cash or money orders. Again, now somebody who is willing to do a transaction using the retail channel. Being that most of our transactions and our customers are not doing it with cash or money orders, they will not see that 1% tax impacting them. As a matter of fact, we hope, at least in the short term, to have the 1% tax actually be a source for us to be able to convert perhaps more and more of our existing and other potential customers to try out our BOSS Money app and convert to becoming digital customers and therefore exempt from paying the tax. So far, the immigration situation has not impacted our BOSS Money businesses that much. In terms of our National Retail Solutions (NRS) business, definitely a lot of our 32,000+ retailers around the country operate in immigrant-heavy communities. We were expecting that perhaps their retail operations might be impacted due to the immigration issues. Clearly, based on the data that we are getting from the stores, the stores are not feeling the impact on immigration. As a matter of fact, we just put out a few days ago our monthly recurring sales data that we capture from retailers across the country in our NRS network. We saw that sales for those retailers go up about 8% year-over-year. The retailers seem to be doing well, and they are not really seeing that impact on immigration so far, at least. All right. Great. Maybe we could talk about the outlook for NRS. I don't know if you've publicly disclosed any targets for fiscal 2026, maybe in terms of your expectations for terminal additions and EBITDA growth. You just mentioned kind of the 8% growth you're seeing in the monthly data. Could you just talk about what's driving up the revenue per terminal at your existing customer base? Sure. In terms of any guidance for 2026 with the financial KPIs, we are planning on announcing our Q4 and full-year earnings on September 29, just in about two weeks from now. At that point, we'll probably be providing guidance into 2026. We deferred the comment on that for that point. In terms of NRS recurring revenue, you're absolutely right. We look at our recurring revenue per terminal as being a primary KPI that we follow to measure the strength of the NRS business. We have been generating roughly between $270 to $290 a month in recurring revenue per terminal, and clearly, that trend is going up. We would like to see in 2026, though, that recurring revenue will be going north of $200 on a solid basis. What's driving that is a couple of things. Number one, every month, more and more of our total point-of-sale network signs up for NRS Pay. More and more of our total point-of-sale base is also becoming clients for our merchant processing, and that drives the revenue higher per terminal. What's driving that is the fact that our sales force, I think, has done a real nice job of going back to the base and upselling the additional NRS Pay services and other services to the base to the extent that they were not able to do that at the time that the point-of-sale was first sold. Number two, driving the recurring revenue per terminal higher is that both in terms of our merchant processing business, you see higher ARPU per customer. What's driving that to a large extent is that more and more of total retail sales are being done now by these customers paying with a debit card or a credit card or a BT card as opposed to paying in cash. About two or three years ago, roughly 80% of our retailers used to be paid for those transactions in cash. Today, it's more like 60%. As more and more usage of electronic means of payment increases at the stores, more ARPU for merchant processing services goes up. On the SaaS fee business, although we have not really increased the prices on the monthly fees to our customers, to our retailers, we are upselling them to try to sign up and try out higher SaaS fees offerings. Over time, you're also seeing ARPU improvement on the SaaS fee side. A combination of higher ARPU for SaaS and merchant processing, as well as the growth of our network and more and higher growth of NRS Pay relative to point-of-sale sales, all of those are driving the ARPU per terminal higher. Hopefully, that will continue into next year and beyond. All right. Great. Thanks. We're right at the end of our allotted time, so we're going to have to wrap it up there. If anyone has a question we didn't get to, hopefully, you have a one-on-one with the company later today. You can have it answered there. I wanted to thank Bill and Marcelo for presenting and everyone else for participating and listening in to the presentation. Thank you. Thanks.