Ladies and gentlemen, thank you for standing by, and welcome to the MasterCraft Boat Holdings Fiscal Second Quarter 2026 earnings conference call. Please be advised that today's conference is being recorded. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you'll need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. I would now like to hand the conference over to your speaker today, Alec Harmon, Director of Strategy and Investor Relations. Please go ahead, sir. Thank you, operator, and welcome everyone. Thank you for joining us today as we discuss MasterCraft's fiscal second quarter performance for 2026. As a reminder, today's call is being webcast live and will also be archived on our website for future listening. With me on this morning's call is Brad Nelson, Chief Executive Officer, and Scott Kent, Chief Financial Officer. We will begin with a summary of our second quarter results, followed by an overview of the transaction we announced this morning with Marine Products Corporation. There is a slide deck summarizing our financial results, as well as the transaction in our investors section of our website, which we will reference throughout today's call. Following prepared remarks, we will open the line for questions. Before we begin, we would like to remind participants that this information contained in this call is current only as of today, February 5, 2026. The company assumes no obligation to update any statements, including forward-looking statements. Statements that are not historical facts are forward-looking statements and subject to the safe harbor disclaimer in today's press release. Additionally, on this conference call, we will discuss non-GAAP measures that include or exclude items not indicative of our ongoing operations. For each non-GAAP measure, we also provide the most directly comparable GAAP measure in today's press release, which includes a reconciliation of these non-GAAP measures to our GAAP results. As a reminder, unless otherwise noted, the following commentary is made on a continuing operations basis, and all references to specific quarters and periods will be on a fiscal basis. Today's outlook also excludes any impact from the combination with Marine Products Corporation. With that, I will turn the call over to Brad. Thank you, Alec, and good morning, everyone. Today marks an important step in our company's journey. Alongside our strong second quarter results, we're excited to announce that MasterCraft Boat Holdings has entered into a definitive agreement to combine with Marine Products Corporation, a move that strengthens our marine platform through complementary market-leading brands and an expanded dealer network and a more capable advanced product development and manufacturing platform. I'll share more details about the combination in a moment. First, we'll start with our second quarter results. We delivered results that exceeded our expectations, and we are building momentum as we head into boat shows and the spring selling season. We're entering this window with right-sized dealer inventories and a team that continues to deliver on key initiatives, bringing leading-edge innovation to market, executing on operational and cost efficiencies, and maintaining disciplined production management. As always, I want to thank each of our team members and our dealers for their focus and execution as we carry this momentum into the back half of the fiscal year. Now, turning to results. Q2 net sales increased $8.4 million or 13% year-over-year, and adjusted EBITDA rose nearly $4 million, a margin improvement of approximately 480 basis points. This year's progress and performance is a direct outcome of our continued innovation and focused execution. As a result, we are raising our full-year guidance for net sales, earnings, and adjusted earnings per share, which Scott will cover shortly. Due to our balanced approach to dealer health, pipeline inventory levels ended the quarter 25% improved from prior year. While we have yet to see sustained breakout in consumer demand, our early boat show engagement and dealer feedback have been encouraging. We have not changed our original full-year assumption of retail being down 5%-10%. However, recent trends are tracking toward the better end of that range for our MasterCraft segment. While we are encouraged by our Q2 retail results, we remain grounded in our flexible operating model, which allows us to optimize across a range of possible demand scenarios. Turning to our brands. Within MasterCraft, momentum continues to build across the portfolio as we usher in the next generation of premium products with high margins and advanced technology, continuing our mission of bringing luxury, performance, and precision to the forefront of our lineup. Early boat show results have been encouraging, with particularly strong engagement at the Salt Lake City, Atlanta, Toronto, Cincinnati, and Kansas City shows to date. Introduced recently, the completely redesigned X24 and XStar are leading our boat show presence and generating strong demand signals across the network. Building on that momentum, we recently announced the all-new X22, which broadens choice within the X product family, bringing the same premium experience to a more compact offering. Feedback on recent models has been positive, and we expect the X family to improve product mix through the back half of the year.... Turning to our pontoon segment. We are executing with discipline, delivering year-over-year operational improvements, enhancing margin performance, and sharpening our pipeline. We continue to align the business to current conditions, positioning the segment for sustainable growth through assertive actions, including portfolio enhancement, leadership changes, and boosting dealer support. Our luxury pontoon brand, Balise, extended its reach this year with the all-new Halo model, which is making its debut at upcoming boat shows. Now I'll hand it to Scott to review the quarter's financials and forward guidance, after which I will provide more details on the Marine Products Corporation transaction. Thanks, Brad. Focusing on the top line, net sales for our fiscal second quarter were $71.8 million, up $8.4 million or 13.2% year-over-year. The increase was primarily driven by favorable model mix and options, higher volumes, and pricing, which is in alignment with our planned production cadence for the first half of the year. Gross margin improved 440 basis points over the prior year to 21.6%. A strong result of strong operating performance across both segments, favorable model mix and options, along with pricing. Operating expenses were $12.8 million for the quarter, an increase of $2.1 million when compared to the prior year, due to costs related to the implementation of our new ERP system, business development and consulting costs related to the Marine Products transaction, as well as increased selling and marketing costs. Adjusted net income for the quarter was $4.7 million, or $0.29 per diluted share. This compares to adjusted net income of $1.7 million, or $0.10 per share in the prior year, calculated using an effective tax rate of 23% in fiscal year 2026, compared to a 20% for the prior year period. We generated $7.5 million of adjusted EBITDA in the quarter, compared to $3.5 million in the prior year. Adjusted EBITDA margin was 10.4%, compared to 5.6% in fiscal 2025, a 480 basis point improvement over the prior year period. We entered the quarter with $81.4 million of cash and short-term investments, no debt, and ample liquidity. As we look ahead, based on our fiscal Q2 performance and current expectations, we are raising the net sales, earnings, and adjusted earnings per share ranges of our full-year guidance. As a reminder, today's outlook excludes any impact from the proposed combination with Marine Products Corporation. For fiscal 2026, consolidated net sales are now expected to be between $300 million and $310 million, with adjusted EBITDA now between $36 million and $39 million, and adjusted earnings per share between $1.45 and $1.60. We continue to expect capital expenditures to be approximately $9 million for the year. For the third quarter of fiscal 2026, consolidated net sales are expected to be approximately $75 million, with adjusted EBITDA of approximately $9 million and adjusted earnings per share of approximately $0.35. As we move into the back half of the fiscal year, we expect production to accelerate in support of our new product initiatives to ensure that we are well-positioned for seasonal demand. I'll turn it back to Brad for more on the transaction. Thank you, Scott. Our proposed combination with Marine Products Corporation represents the start of an exciting next chapter and one that we are confident will open new avenues of growth and value creation. We have long admired Chaparral and Robalo, their talented teams, and the success they have achieved in creating proven market-leading brands in both recreation and sport fishing. Together, we expand our geographic reach across both coastal and inland markets, unlocking growth through complementary, well-established dealer networks, as well as advanced product development and manufacturing platforms. The result is a stronger, diversified marine platform, delivering incremental categories with a clear path to sustained, profitable growth. As our results demonstrate, there is meaningful momentum underway. With focused execution, disciplined inventory and production management, and a capital allocation strategy focused on value creation, we are successfully navigating this dynamic market environment and operating from a position of strength. Like us, over many decades, Chaparral and Robalo have also built a strong foundation through its disciplined approach, leading brands, and strong dealer relationships. The transaction will deliver compelling and sustainable financial benefits, which Scott will touch on in more detail. For our customers and dealers, this means a broader lineup across more price points and boat lengths, meeting a wider range of needs while preserving brand identities and premium positioning. Our combined network will comprise of more than 500 dealers globally, enhancing customer coverage and improving the efficiency of market entry across key regions. Both companies value the strong relationships we've established with dealers, and maintaining those long-standing relationships and driving our collective success will remain a top priority. Operationally, we're unlocking efficiency with a unified manufacturing footprint across Tennessee, Michigan, and Georgia, with nearly 2 million sq ft of production capacity, including one of the largest single-site sport boat production plants in the United States. At the core of this combination is utilizing our respective powerful product development and technology platforms.... Through leveraging the strengths of both, we expect to deliver differentiated and innovative new products to customers, while also accelerating launches of new models that extend the leadership of our brands. We will preserve our distinct brand identities and keep our focus on quality, delivery, safety, and culture. Integration will protect the front line, dealers, and consumers, while we harmonize processes where it matters and move quickly to focus on clear value opportunities. On slide 14 of the accompanying presentation, we provide a high-level view of what our combined company will represent. Together, MasterCraft, Crest, Balise, Chaparral, and Robalo make up a diverse portfolio containing five powerful brands, offering 65 models, ranging from boat lengths of 16-36 feet across four distinct categories. Our business is built on three fundamentals: strong brands, robust distribution, and compelling products. With Chaparral, we add a storied legacy and brand equity that few in the industry can match. With Robalo, we enter one of the fastest-growing categories in marine, with a leader already recognized for performance and reliability in sport fishing. Moving to the structure of the transaction, with more detail provided on slide 12 of the accompanying presentation. Upon close, Marine Products Corporation shareholders are expected to receive 0.232 shares of MasterCraft Boat Holdings stock and $2.43 of cash consideration per Marine Products Corporation share, representing a total cash consideration of $86 million. Current MasterCraft shareholders will own 66.5%, and current Marine Products shareholders will own 33.5% of the combined company. Based on MasterCraft Boat Holdings' closing share price of $23.12 on Wednesday, February 4, this consideration implies a value of $7.79 per Marine Products Corporation share. The corresponding transaction value of $232.2 million represents approximately 7.2x Marine Products Corporation's expected EBITDA for the 12 months ending June 30, 2026, after adjusting for the elimination of approximately $6 million of public company cost and corporate overhead. The combined company will be named MasterCraft Boat Holdings, Inc., and continue to trade on NASDAQ under the ticker MCFT. We intend to fund the transaction with combined cash on hand, keeping us debt-free with ample liquidity following the transaction. MasterCraft Boat Holdings' board of directors will expand from seven to 10 directors and include three new board members, with Roch Lambert continuing to serve as board chair. Scott Kent will be CFO of the combined company, and I will serve as CEO. The combined company will be headquartered in Vonore, Tennessee, and will maintain Chaparral and Robalo's operating facilities in Nashville, Georgia. The transaction has been unanimously approved by the board of directors of both companies. We are expected to close in calendar Q2 of 2026, subject to customary closing conditions, including regulatory approvals and the approval of both companies' shareholders. Scott will now frame the financial profile of the transaction. Thanks, Brad. I would like to reemphasize our shared excitement surrounding this transaction and the opportunities we believe it will provide. Maintaining a strong balance sheet has been a key priority for us, and we expect to maintain that focus as a combined company. We will be supported by a pro forma balance sheet with no debt and significant liquidity, well-positioned to support the continued execution of our strategic initiatives. We have provided a summary pro forma snapshot of the combined company on slide 17 of the accompanying earnings presentation. At close, we expect a cash balance in the range of $40 million-$60 million, liquidity in the range of $115 million-$135 million, and no debt, while continuing to be cash flow positive. As Brad previously outlined, we have identified several layers of opportunity to enhance value through synergies. Specifically, we expect to achieve approximately $6 million in annual cost savings by eliminating Marine Products' public company costs and corporate overhead. After adjusting for these expenses, we anticipate that the transaction will be accretive to adjusted EPS in fiscal 2027. We've also identified opportunities to achieve incremental revenue and cost synergies over time as we bring our two companies together by leveraging strengths across innovation platforms, complementary dealer networks, and operational capabilities. We believe our financial position post-close will provide us with the flexibility to pursue growth investments while maintaining a disciplined capital allocation framework, all of which will support our focus on value creation and returning capital to shareholders. Brad, back to you to close. Thank you, Scott. We're doing exactly what we said we would: innovating, executing with discipline, supporting our dealers, and building a stronger platform to drive long-term shareholder value. The combination with Marine Products Corporation unites proven, market-leading brands, dealer networks, and product development and manufacturing capabilities... We look forward to welcoming the Chaparral and Robalo teams to our family and continuing to deliver world-class experiences to boaters everywhere. Operator, you may now open the line for questions. As a reminder, if you'd like to ask a question at this time, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Please stand by while we compile the Q&A roster. Our first question comes from Joseph Altobello with Raymond James. Thanks. Hey, guys. Good morning. Congratulations on the transaction here. Scott, I want to go back to your comments earlier about synergies. I guess there's some cost synergies you outlined this morning, the $6 million in public company and corporate overhead costs, and possibly some revenue synergies. I don't know how much detail you want to give on this morning's call, but maybe can you dive into some of the additional synergies, either on the cost or revenue side, that you see from, you know, maybe expanded distribution? It sounds like there's not a lot of overlap from a dealer standpoint, for example, and how this might accelerate, you know, the innovation pipeline, for example. Yeah, I think if you look on page 18 of our investor presentation, we kind of list out some of the areas for synergies beyond just the corporate overhead costs. So we will certainly have some, you know, innovation platforms and some of the pace of introduction of new product we believe we can add and invest in and get a little bit faster there to get some additional, certainly, revenue synergies. We've got manufacturing best practices across both groups that we already have identified some opportunities on both sides to adjust on both sides of the company. We certainly are going to be larger in scale, so we're going to have a little bit more opportunities on the sourcing and procurement side. We've got some vertical integration activities between both of us, some things we do differently between the two companies that we can certainly do better together. As well as the dealer network that you mentioned, and certainly gives us a lot of opportunity over time to leverage. So the good side of all of our synergies is, through our diligence process, we've already got a plan and we already have actions outlined, and we're, you know, gonna have people resourcing all of these initiatives. And there's certainly gonna be more, especially in the SEC documents, that we come out that'll get a little more specific on these. Got it. Okay, that's helpful. Just switching gears a little bit on, on inventory, as you mentioned earlier, you know, the progress that you guys have made. So I guess two questions here. One, is there still more destocking that has to be done here in the, in the back half of fiscal 2026? And two, what does Marine Products' field inventories look like? So I think we've been saying for the last couple of quarters, really, restocking for us is largely over. I mean, obviously, it has a little bit of what happens during the selling season and how much retail is to through that period. But we really don't have plans for further destocking at MasterCraft. We're really happy with where the inventory levels are today, and you know, as we go into the next year, I think we'll start seeing wholesale and retail being a little bit more equal. But obviously, we're still planning on the markets to be down at retail slightly, so that may drive a little bit less pipelines by the time we get to the end of the year, but it's certainly not a something we're driving to do any longer. And like us, the Marine Products group manages their brands really tightly with inventory as well, and they're sitting in fine shape as well from a pipeline perspective. So not a lot of changes we have to make once we finally get past closing on the way they manage their pipeline, because it's pretty complementary to ours. Great. Thank you. Our next question comes from Craig Kennison with Baird. Hey, good morning. Thanks for taking my question. I, I had a question on the process itself. Obviously, you're paying a price that is below the closing price of Marine Products yesterday. Can you shed any light on the process that led to that outcome? Yeah, I do, I do think we, you know, have a compelling case of how we are going to work together as a company and how and I think the other side believes in our vision, as well as the ability to shepherd those brands, because they've been around for a long time. Chaparral is actually even older than MasterCraft. So, the mix of both cash and stock, I think, was interesting to them in the process, and it gives them also an opportunity to participate in the upside of when the two companies actually consolidate. Also, Craig, this is Brad. Good morning. We obviously consider a range of options with capital allocation, and we've been pretty vocal about keeping an always-on pipeline with pretty tight criteria. We're really excited because this meets that criteria, and there's just strategic, operational, and financial benefits that come with this that's in the interest of shareholders. Expanded geographic reach, it's highly complementary. There's zero cannibalization with this and product development and manufacturing platforms. This deal really the new company will have the scale, reach, and product offerings to more than double existing market reach with a robust balance sheet that Scott described. Long-term strength and stability and proven time-tested brands and operational excellence, we just really admire from Chaparral and Robalo. If I could ask on the innovation front... you know, at your scale prior to the deal, like, there's probably some limited investments you can make on technology if you can't use it across a broad portfolio of products. Does having a larger portfolio unlock some innovation as it relates to technology and vertical integration that maybe, you know, you felt like you couldn't pursue at your prior scale? No, no doubt about it, Craig. I mean, we really have a boat for everyone now. So when you look at the various boat lengths, purpose-driven innovation from the ground up for these to maximize the boater's experience in each of these specific categories. Of course, MasterCraft now gets access to a broad and vast recreation boat market, in addition to sportfish and salt fish. And Chaparral Robalo now get access to performance and ski tow wake environments that are attractive. On the innovation front, in particular, just the added scale provides commonization opportunities as we integrate tech stacks, and that includes working with great suppliers and third-party partners. And as we aggregate those volumes and design with purpose, there's no doubt efficiencies. And also, Scott said it before, which is speed of innovation, which is a cornerstone of this combination. If I could just go back to my first question, Brad, on the deal process itself. What was this a competitive process that was initiated by Marine Products looking to sell the business and accepting offers, or, or did it come about in a different way? I really don't want to get into the details of the mechanics of how that came about, other than, we're a company that constantly evaluates opportunities, as are they. And if, as we look at the market cycle right now and project forward, we're in an attractive spot, as are they. Coming together with more scale and diversity right now, which is at or near the bottom of the current cycle, projecting that forward is really attractive for both parties. Mechanically, of how it came together, of course, it's tight partnership, and high scrutiny on both sides to ensure that we're focused on shareholders, and that's exactly what we did and what the boards of both companies did. I think there's also a lot of similarities between the two companies, which is why I think both of us were interested in each entering this deal. You think of another public company in the boating space that has no debt as well, they're probably own the other one. So it is a nice combination. They treat their dealers the same way we do, and everything's pretty complementary between both groups, which just makes it a really nice fit from both sides. Great. Thank you. Thanks, Craig. Our next question comes from Eric Wold with Texas Capital Securities. Thanks. Good morning. Just a couple questions on the planned combination. I guess one, I know it's early, but you've done your diligence. Any early expectations for potential kind of shifts in Marine Products' model mix or model focus once integrated into MasterCraft, that you feel may be more appropriate for the market, or you feel where they are now makes the most sense? Well, they certainly have a tremendous portfolio now, as does MasterCraft, as well as the same thing in our pontoon business. We have identified opportunities there, to add some special sauce in all directions, to quicken the pace of innovation, et cetera, that we know dealers and consumers will love. We do have a plan. It's not ready to be revealed yet, and that's both on the synergy side, from a growth perspective, the innovation side that we just spoke about, including strengthening our dealer network. But there's a vast roadmap of 65 models together, in each category that gives us ample opportunity. The, we are gonna, you know, have that as a separate independent segment running on their own. So the same leadership that has run the brands, for many years is gonna be continuing with us. And so, I think you'll see that, you know, we're gonna just accelerate a lot of what they've already been doing and hopefully add to on top of what they already have. Perfect. And then just, you know, a follow-up question on the, on the combined dealer network. With the, with the 500-plus combined dealers, what is the opportunity to expand distribution for both brands? I guess, of that 500-ish dealer network, what percentage of those or number of those make sense to take, you know, the other side's brands in-house? Yeah. As we evaluate that on the macro, certainly there's opportunity. On the micro, it's market by market, Eric, as you can appreciate. And as we look at the competitor slate, existing slate, dynamics of each market, water type, water access, we've identified a pretty thorough plan already and have identified areas of opportunity for cross-synergy for growth. And that means addition of brands in certain areas. We're not ready to unveil that yet, but we're confident that that those growth opportunities are there. Understood. Thank you. Thanks, Eric. Our next question comes from Anna Glaessgen with B. Riley Securities. Hey, good morning, guys. Thanks for taking my question. I'd love to dig into the pro forma math here, you know, for the combined entity, $560 million in sales, and roughly $60 million EBITDA. If we take out the guidance for MasterCraft itself of roughly $30 million, that gets to roughly $30 million from Marine Products. For the most recent year, they reported $17 million or so as of the press release this morning. Obviously, a little bit different of fiscal year-end here, but could you bridge, help us bridge the gap to that $17 million-$30 million that's contemplated in the pro forma EBITDA? Thanks. Obviously, some of it's forward-looking from their perspective as well, so that's part of it. There are some differences in how we typically do our EBITDA adjustments, so we factor some of that in as well. And then obviously, we should get the $6 million of synergies, really almost immediately, 'cause those corporate costs and public company costs are going to go away pretty quickly. Got it. So, a little bit of adjustments and then the corporate costs and basically the lift as you get into further into this fiscal year. Yes. Okay. Got it. Thanks. And then you talked about in the press release, in the prepared comments, opportunities to increase margin or get more efficient, presumably with the Marine Products business. Could you expand a little bit on maybe what MasterCraft does differently that you could apply to Marine Products to lift that margin over time? Both companies exhibit proven, time-tested operational excellence. So, although that's true, there's always opportunities in all directions. What the added scale and diversity gives us is the ability to share best practices at a minimum, and that's across the board, on the front end of the business as well as the back end of the business, including sourcing and manufacturing. Sharing innovation platforms is another one that can help drive that. As we continue to innovate products, and do it with scale in mind, that's where we can really get margin gains. We've done it in the MasterCraft business. They've done it in theirs as well. We see high opportunity there. We've already identified work streams and eager to get going post-close on those items as we continue to plan. There are vertical integration opportunities, in pockets of the operation that MasterCraft does that they may not do, and same thing in reverse, and that's true within all of the brands. Great. Thanks. Thanks, Anna. Our next question comes from Gregory Miller with Truist Securities. Thank you. Good morning. Going back to the U.S. dealer footprint, and looking at the map of Marine Products locations, there's a heavy concentration in places you're less represented within the Gulf Coast of Florida, as well as the U.S. East Coast. I'm curious, when we think about what's going on in the macroeconomy today, how much the regional geography of Marine Products plays into your decision-making? Well, it's certainly an added strength. You know, I believe every good marine business is built on brand, distribution, and product. And our partners here bring strength in all of those. On the second item of distribution, there's no doubt, geographically, there are opportunities in all directions and, you know, in pockets of Florida. It's go to where the water is and where the access is, and also weather advantages and types of water. There's certainly opportunities in the coastal areas that will advantage our business. And then, you know, we're strong in some of the inland markets. And so that dealer penetration is a geographic advantage, it's a partnering advantage, and it just brings added reach. This deal, through this distribution, more than doubles our market reach. You know, this is a, you know, upwards of a $12 billion addressable market opportunity for us that we're very excited about. Thanks. And, sort of a follow-up, this is perhaps similar to Anna's question. If I were to walk into a Marine Products plant, how similar or different is their manufacturing process compared to yours today? There's a lot of similarities, but there are some differences. You know, one good thing operationally is we're not going from a boat length of... You know, these are, they are small to mid-size boats in both, in all areas, so we're able to leverage those best practices. The types of materials, the sourcing strategies, the sourcing partners present opportunities, and there are just, there are best practices in every operation that can be unleashed. And when we come together, sharing of those ideas will then spur additional ideas. And both companies have a track history of that, and we're excited to share that. And this is not new. There's nothing about Chaparral and Robalo that is a fixer-upper. And of course, we would say the same of our MasterCraft, Crest, and Balise brands as well. This is strength on strength. Okay. Thank you very much. Our next question comes from Noah Zatzkin with KeyBanc Capital Markets. Hi, thanks for taking my question. I guess first, if you think about it kind of in terms of, maybe the TAM that you had, in terms of industry units, in the kind of, you know, planned legacy MasterCraft, business, and then you think about kind of the, the TAM, that's provided by Robalo and Chaparral, is there any way that you'd kind of break that down in terms of, like, the incremental industry unit volume that this kind of unlocks for you? Thanks. Yeah, we certainly. We've certainly looked at that. Certainly one of the reasons we're interested in these, because they are complementary products and complementary markets that we don't totally participate. So now we ultimately have an opportunity to sell to almost anybody. I mean, we actually had some discussions the other day with a bunch of our consultants on the line, and we were all talking about what boat we like, and everybody had a different one. And we are now going to have an opportunity to sell into all those markets, both from a performance base, from a MasterCraft perspective, a more leisurely product with pontoons, you know, a recreational focus boat with Chaparral, as well as a, you know, a sport fishing focus for the Robalo brand. So it couldn't hardly be a better merger for us to expand, to your point, the addressable market. If you look at a unit count level across these segments, the tow, ski tow wake market, roughly 8,000 units a year right now, and here we sit at the bottom of the cycle, these numbers. Pontoon, roughly 45,000 units a year. That's on the traditional MasterCraft side, as our company is today. Going forward, post-close, gen rec market brings an additional roughly 8,000 boats a year from a market potential perspective, and salt fish brings an additional 20,000 units per year. Purely incremental, zero cannibalization. Both those categories are highly complementary from a product perspective, technology perspective, boat length, manufacturing best practices, and of course, through the dealer network. Got it. That's really helpful. And maybe one more, just looking at slide 14, it kind of struck me that Robalo and Chaparral have a pretty kind of wide price range. So how much did that kind of play into your thought process around the acquisition in terms of being able to reach maybe kind of a wider swath of consumers from a kind of income perspective? Thanks. It's an important point and high consideration in this deal. Affordability in marine is an issue, and being able to attract a wider consumer base, and by the way, dealers need this too, provides wide expansion for us to reach a dynamic consumer, not only now, but as we continue to innovate new products in the future and within market recovery, having a much wider range of boat lengths, boat types, segments, and price points is going to be to our advantage, and do it with premium positioning as well. Thank you. Thank you. Our next question comes from Gerrick Johnson with Seaport Research Partners. Hey, good morning. Thank you. I'm going to approach the revenue synergy question here maybe a little bit, little bit more cynically. You know, it seems every dealer has, you know, a fiberglass runabout brand, a pontoon brand, et cetera. So realistically, how long would it take to expand distribution? Because it seems if you wanted to, you'd have to push another brand out to get your brand in. And also, you know, the complementary dealerships, you know, might be a little bit more difficult getting offshore fishing into inland and pontoons and wake ski to, you know, coastal markets. So how do you approach those, those issues? Yeah, a couple things. Thank, thanks, Gerrick. On the water types, I mean, you know, there, there's, as we all know, there's lakes, small—on the freshwater side, small, medium, and large. And on the medium to large size water, center consoles and sport fishing vessels are on the increase, and that's where we have high penetration of inland dealers, with strong knowledge of those local markets. So there's opportunity there. But in most of the coastal markets, there's also, I don't want to say untapped, but under-tapped, freshwater and saltwater opportunities for our boat categories on the MasterCraft and pontoon side of the house. Now, it's not easy, dealer by dealer, market by market. It's not a cakewalk, but at this scale, with this attractive of a portfolio, not only right now, but as we continue to refresh and innovate and differentiate on the product line, that is what's going to create those opportunities, market by market, for brand aggregation, in some cases with the dealers. Not every dealer this is going to work for, but there definitely are some. We've already identified key markets and have work streams ready to go once the deal closes. But we're talking about over 500 dealers. And so market entry, market expansion, much more enabled with this deal than prior. Okay. Yeah, it makes sense. And then, just shifting gears a little bit, maybe, the uptake on Balise and the build-out of that dealer base, how, how is that going? And maybe after this deal, does that kind of put that on the back burner or maybe something you might, you know, not continue with? Well, Balise, in general, continues on its ramp. It's early. It's an ultra-premium product in a market right now that has not rebounded yet, and that consumer and dealer network. And we're also in the dark part of the season, yet approaching spring. Pontoons consolidate even more so into summer selling season. Balise by itself is a modest-sized business, but there is a compelling case out there. We're seeing strong, strong interest from consumers. Dealer feedback has been strong. It's a resilient buyer that's buying off of wealth for that product, and it's largely an incremental dealer network on the Balise side of the house. So no, that doesn't go to the back burner. That continues to expand, especially as the market comes back. We just recently launched the new Halo model, so there's now a portfolio of products in the Balise sphere that our dealers are really excited about. And remember, each of our business units is going to operate independently, so just because we pick up, you know, Chaparral and Robalo, we still have a team in pontoons that is driving their own initiatives and will continue. And Balise is an important piece of that. We are finding a few places where Balise is leading to Crest being picked up by dealers as well. So it's creating kind of a halo effect over the entire pontoon segment and helping the entire segment. Okay. Okay, and lastly, for me, you know, touching on Craig's question, I guess there's probably no risk in this not closing, considering the Rollins family owns 2/3 of the shares? Well, in terms of the mechanics, you know, we are excited about this deal. It's a compelling business case for shareholders, we believe, and it's going to work its way through the process. Now, there's mechanics, and all that stuff will be in our proxy, for reference, but we see advantages out there. We've highlighted a lot of them in our press release as well as in our commentary here today. And I think everyone sees that we can be a good steward of these brands and keep that, you know, that history and the legacy of those brands moving forward. So we certainly have a belief that we can get to closing. Okay. Thank you very much. That will conclude today's question and answer session. This concludes today's conference call. Thank you for participating. You may now disconnect.