Good day, everyone. Thank you for joining us today for the Lytham Partners Spring 2026 Investor Conference. My name is Joe Dorame, Managing Partner at Lytham Partners. I would like to welcome IPM, which trades on the Nasdaq under the ticker IPM. Today, Jason Katz, Founder and Chief Executive Officer, will be taking us through a brief slide presentation. Let's get started. Welcome, Jason. Thanks for having me today, Joe. Very pleased to be here. Great. All right, I will turn the floor over to you. Thanks so much. Hi, everybody. Very happy to be here today. As Joe said, we're Intelligent Protection Management Corp. We trade under the symbol IPM. We also have the URL ipm.com. That's a nice, unique advantage there, easy to remember. We're a managed technology solutions provider, mostly focused on cybersecurity and managed cloud infrastructure, lots of different IT services, including secure private cloud and managed backup and disaster. We do professional services, projects for companies. Procurement services means we buy hardware for companies associated with the services we provide. We also have a web hosting business, which is actually a sort of a legacy business. It's about 15,000 customers, which makes it interesting, and we use that as a base to upsell all these other services, too. A largish company. We provide these services to enterprises and commercial clients, as well as small, medium-sized businesses. Again, managed IT, security, managed cloud hosting, managed backup and disaster recovery, professional services, procurement, and web hosting. Just to note, the kind of industries we focus on are usually highly regulated, tend to focus on financial services, law firms, accounting firms, and those sort of companies. You can see from this slide, just for background, we acquired this business in the beginning of 2025, and we were originally a software company. We trade on the Nasdaq. We still trade on the Nasdaq. As a management team, we thought that this IT business, managed IT and managed cybersecurity was a much better area for us, and I think that's been true for the last 17 months. We've been very focused on, A, building the revenue, but B, also doing that profitably. Very important to be able to show profitable growth. The first quarter of 2026 was our best revenue quarter by a good amount, good growth, with $6.4 million. If you do the math, that annualizes to well more than the $23.6 million than we did for the first year of this in 2025. You can also see the deferred revenue grew substantially year-over-year. I think the biggest takeaway from this slide is managed information technology is the majority of what we do, and that we like to look at that metric as a recurring metric, so customers on term agreements, and that is the one that we want to grow, and that is the one we report. The procurement is buying hardware, as I said, tends to be lower margin, tends to be a little bit lumpy. Professional services, we do as those projects come up. Why does anyone need to use IPM in a world where you have Amazon and Google and Azure, Microsoft Azure? We're different than all of those things. We're a comprehensive end-to-end security and cloud management. Small, medium businesses really don't have staff to do all of that. Those are very self-service places. I can tell you that's true because in my software development days, we owned a couple data centers and had hundreds of servers that we managed ourselves. We were able to do that, but I would say the average small, medium business cannot. I think that those companies are very well-served just saying, Hey, you guys do this for us and you take care of your business, we'll take care of the IT piece. All U.S.-based management and staff, U.S. data center, which is important, certified CISO, security, and service, really important stuff, 24/7. You could have a mix of private and public cloud if you want, which some of our customers do. Professionals on the ground, any city. It doesn't matter where you are in the United States, we can have someone in your place of business in two hours, and that's a huge differentiator also. As I said, our largest customer is actually a bank, so we focus on being able to provide these services to banking, finance, legal, healthcare, manufacturing, energy, and retail. Lots of customer references as well. We have customers who like us. That is important in this business. It's not a one-hit wonder. It's a recurring revenue business. The high-touch and white glove experience is important. You're going to talk to somebody in America, they're going to speak English, and they're going to be there 24/7. It's your business, and you deserve that kind of service. It's really a big differentiator for us. Bottom of the slide, the gross margins are dependable, predictable, 50%-55%. Again, mostly managed IT and managed security at a good competitive price point, and lots and lots of uptime. Just to amplify that, the public clouds have been less dependable, I would say, than they used to be. If you pay attention, there are outages here and there with AT&T phone systems. It could be your cell phone, it could be a website, it could be Amazon, it could be anything. We tend to have less of that because we have our own cloud, so it's a private cloud. I think that our customers have come to really appreciate that. This slide's important, refers to the acquisition we made in January of 2025. We acquired Newtek Technology Solutions, NTS, which I've renamed IPM, for $4 million in cash and 4 million shares of our stock, which is now symbolled IPM. It's a 20-plus-year-old business that had more than 50 employees and 17,000 customers. It was a business that was predictable. It wasn't something that we had to think about. Lots of growth potential. Newtek, who we bought this from, is a bank. They refer a lot of business to us. We refer business to them as well. We divested our original business, which was video conferencing, as I said, $1.4 million and up to another $5 million potential in earn-outs over the next three and a half years. There's some upside with that business as well. Full-year revenue in 2025 was $23.6 million. We really improved the operating financials. Net loss declined by 42%. As this slide importantly says, positive EBITDA in Q4 2025. Slide doesn't say we have over $8 million in cash and no debt, but that is a fact. Q1 2025 was our first quarter in this business, and we expect the growth to accelerate because that's where the world is going. I don't think anybody would argue anybody's going to need less IT. Why are we different? Security first is important. We have a wide range of professionals at the company that you can rely on that are watching 24/7. Very important. Long-tenured staff, so very little turnover, and people have been here 10 and 20 years. Very important. We have a big virtual bench, that's at the bottom of this slide in the left column. Very, very important that we can put people on the ground in two hours anywhere in the country. 99.9% uptime. We just don't have downtime. That, again, when it's your business, you should run your business, and we should run the IT. Dedicated private cloud, for those customers who want it. We'll manage your stuff in the public cloud as well, or it could be a hybrid of both. Consulting, very important. Data readiness around AI is a core issue to focus on. AI, everybody knows, is sort of the topic of certainly maybe the decade, if not even the century. Companies are not ready for AI. What do I mean by that? I mean that any AI depends on the data, and if the data is not organized in a place to make it accessible, then you don't have anything. We've really focused a group on creating AI readiness for companies so they can even engage with AI. That's important because as you watch technology, the AI is actually enabling companies to run their businesses with less cost and fewer people. You know everybody wants that. I'll skip through this quickly, we're a technology provider to FDIC-registered banks, which means we're also SOC 2 Type 1 certified, CIS certified as well. Very, very important. That is a huge differentiator that is hard to do. You can't provide these services to those industries unless you have these certifications, and most don't. Partners are important, too. We're a platinum or gold partner of a who's who of companies, Citrix, Dell, Microsoft, Nvidia, of course. NewtekOne being the bank that we bought this from, that is our largest customer. Fortinet as well, and others. This is an important slide. This happened recently. We had two years left in our lease in a world-class data center with a lot of excess capacity and power in that data center, I was nervous specifically that because of the demand for AI and everything else, that that left us vulnerable. We were able to extend that lease till 2032, almost like owning the data center rather than just being a tenant. By the way, at a good price. It provides price predictability for the business as well. In a sort of time when there's not that much capacity of power of data center in the country and maybe the world. Lots of excess compute as well. Not only do we have more space, but we have existing space on existing hardware compute, very redundant. As I said, private, hybrid, public, as any customer wants. No bandwidth consumption fees, very important. If you go to AWS, you will go broke, if you're doing any real bandwidth, because they charge for that too. We don't. Go-to-market strategy, referrals, and channels are very important. We've built up the number of referral partners, and we'll continue to do that. Newtek, who we bought this from, continues to refer. We have an inside program for our own employees who refer, and also, of course, marketing. M&A is core and key. There are many of these businesses around. They tend to be smaller mom and pops, local. We believe we can buy them at attractive multiples and just put them on top of our excellent foundation here as a public company. We think we can roll up lots of these things. I've referenced that our staff has been there a long time. We have great continuity, and we think we can continue to build this and make it much bigger. Balance sheet's important. I referenced it earlier, $8.1 million of cash, no long-term debt. We produced cash of $1.1 million in 2025, even though the overall year was an EBITDA loss, we still generated $1.1 million. The preferred stock of 4 million shares is Newtek shares. They have actually since converted those into common shares. It says 13.1 fully diluted. Just as this slide, for those who want to, GAAP to non-GAAP reconciliation important. We like the direction we're going. We're very focused. By the way, I've been in business as a CEO since 1998. I wouldn't be here unless I was very focused on profitability, and I am. It's growth, but it's growth with profit. Just to tie it up, very strong balance sheet at the end of the first quarter, $8.1 million in cash. Insider ownership, that means me and my family, is quite high at 26%, Newtek at about 30%. We haven't referenced the patent award. We still retain eight patents. One of those patents we asserted against Cisco Systems Webex, specifically for video conferencing. I'd referenced that we were in the video conferencing business. We were awarded $65.7 million in a jury verdict almost two years ago. Cisco's obviously appealed that. We expect a resolution of that probably sometime next year in 2027. The first quarter revenue was up 15% to $6.4 million. The managed information technology revenue, that's the repeatable term contract revenue, was up 19%, even better. Procurement up as well. As I've referenced, that's good business. It's a little lumpy. Revenue for the year of 2025, $23.6 million. Net loss improved by almost 90%. Very, very happy with those numbers and positive EBITDA for the Q4 of 2025. I said we generated $1.1 million in cash in 2025, even though there was an operating loss and an EBITDA loss. We have a credit facility with Newtek of $1 million, and our deferred revenue is building, and to us, that's obviously a sign of good financial performance and demand. Again, tying it up, reliability. We have critical certification, SOC 2, as I said, a good margin. We have our patent verdict. By the way, I should reference that that patent verdict, we've said publicly, we won't get more than a third of that. There's interest that will run on top of that too. Let's just say it ended up at $75 million, we would get $25 million. The whole market cap of the company is less than that right now. We are definitely positioned for growth. We have a seasoned management team with real experience. Some nice pretty pictures here of the management team. I think I'll hand it back to Joe. Great. Thank you, Jason, and thanks to everyone for watching. If you have any questions or would like to schedule a meeting with IPM, please send me an email at dorame@lythampartners.com. Thank you, and have a great day. Thank you.
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