To ask a question during the session, you will need to press Star 1 on your telephone. I would now like to hand the conference over to your speaker today, John Evans. Please go ahead. Thank you, Operator. Good afternoon, everyone, and welcome to the Off The Hook Third Quarter 2025 earnings conference call. With us today are Brian John, Off The Hook's Chief Executive Officer, Jason Ruegg, the company's founder and president, and Chad Corbin, the company's Chief Financial Officer. Jason will begin the call, followed by Brian discussing Off The Hook's recent highlights and strategic initiatives. Chad will review the financial results, after which management will be happy to take analyst questions. I'd like to start by reminding you that certain of our comments are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Any forward-looking statements speak only as of today. These statements involve risks and uncertainties that could cause results to differ materially from expectations. These risks include, but are not limited to, the impact of seasonality and weather, global economic conditions, and the level of consumer spending, the company's ability to capitalize on opportunities or grow its market share, and numerous other factors identified in our Form S-1A and other filings for the Securities and Exchange Commission, which can be found in the Investor Relations section of the company's website. Also, on today's call, we will make comments referring to non-GAAP financial measures. We believe that the inclusion of these financial measures helps investors gain a meaningful understanding of the changes in the company's core operating results. These measures can also help investors who wish to make comparisons between Off The Hook and other companies on both GAAP and a non-GAAP basis. The reconciliation to non-GAAP financial measures to the most directly comparable GAAP measures is available in today's earnings release. The company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. Please also note that all comparisons of our Third Quarter 2025 results are made against the Third Quarter of 2024 unless otherwise noted. I'd also remind everyone that today's call is being recorded, and an archived version of our call will be available on our website sometime after the call. With that, I'd like to turn the call over to our President and Founder, Jason Ruegg. Jason? Thank you, John. Good morning, everyone, and thank you for joining us. This is our first earnings call as a public company. I want to start by saying I'm proud of the team and what they've built as a result of a lot of hard work, long hours, and relentless focus on execution. I'm grateful to everyone who helped get us to this point. As we move through 2025, we continue the growth trajectory that brought us here. And with our recent capital infusion and access to public markets, we believe we can accelerate that momentum over the next three to five years. Our focus is simple: scale responsibly, drive profitability, take great care of our customers, and create long-term shareholder value for all of you, our investors, and for our broader group of stakeholders. It's also important to be clear about what we are and what we are not. We are not a traditional boat dealership. We're a scaled platform for buying and selling used boats, one of the largest in the country, and that difference matters. Our growth doesn't depend on opening more locations, and we're not constrained in the many ways new boat dealers are, where growth often requires us buying more rooftops and taking on significant debt tied to brand rates and OEM restrictions. We grow by adding brokers, many of whom can work from anywhere, and by increasing our access to capital, and by expanding our ability to acquire more pre-owned boats. We don't need big, expensive showrooms to do all that. On real estate, we're going to stay disciplined. We're only going to buy real estate when it comes to the economics of the core business, either because it creates operational efficiencies or because it allows us to store company-owned inventory at company-owned marinas, lower our storage costs, and reduce service expenses. And when we do pursue a marina, we're going to underwrite it like any other investment. The returns have to exceed our cost of capital while also strengthening our operating platform. I'd now like to turn this call over to Brian John, our CEO. Brian? Thank you, Jason, and thank you, everyone, for joining our call. We're all excited to be here. As Jason mentioned, I'm proud of the way that our team executed not only becoming a public company on November 14, 2025, but also in our successful quarter and year-to-date financial results. Off The Hook sales were the largest pre-owned buyers and sellers in the United States. We continue to recognize as a leader in the marine industry and the go-to market maker for pre-owned boats. We offer a comprehensive suite of services that spans the entire boat value chain, from purchasing, financing, servicing, selling, disposing, asset recovery, and repossession of boats. We now have nine physical locations strategically located across the United States, and with brokers opening nationwide, offering unparalleled reach and accessibility to clients around the country. I'm extremely proud of our recent successful launch of Autograph Yachts Group, located in Jupiter, Florida. With 30-plus years' experience in high-end brokerage, I can't wait to see what this team produces in 2026. By leveraging our nationwide platform of 45 virtual brokers, advanced CRM technology, and synergistic portfolio of entities, the company delivers exceptional value to our clients. As a leading pre-owned boat buyer and seller, several market trends are driving expansion in OTH to addressable markets, including increased demand for pre-owned boats. The rising cost of new boats and supply chain constraints have fueled higher demand for pre-owned inventory, benefiting OTH wholesale and resale models. Growth in center console and offshore fishing boats. The center console segment has become one of the fastest-growing categories in the boating industry, as more buyers seek versatile, multi-purpose boats suited for both fishing and recreation. We experienced this trend firsthand in 2025. Rising participation in recreational boating, the post-pandemic surge in outdoor activities has led to record-high participation in recreational boating. With new buyers entering the market at unprecedented rates, this shift has expanded the customer base for both entry-level and high-end vessels. Technological advancements driving resale demand, innovations in marine technologies such as improved fuel efficiency, onboard automation, and digital navigation systems have shortened the product cycles and increased the resale value of late-model boats, strengthening the pre-owned sales market. Shifting demographics and lifestyle preferences. Younger generations are increasingly entering the boat market, driving demand for affordable, high-quality pre-owned boats. Additionally, high-net-worth buyers are investing in larger luxury yachts as part of a growth trend in high-end leisure experiences. Financial and alternative lending solutions. The expansion of boat financing and alternative lending options, including hard money loans, has made boat ownership more accessible to a wider audience, further expanding our potential customer base. This is why our Azure Finance Unit, now growing from a small base, has a great potential to grow into a substantial profitable business. In our Azure Finance Unit, 85% of the boat loans are from other broker-dealers. For this reason, we have the opportunity to increase OTH's attachment rate from 15% of Azure loans by changing the process and incentivizing our boat buyers to use our Azure financing other than other companies. Expansion of online sales and digital marketplaces. The shift towards digital transactions and online boat sale platforms has created new opportunities for us to capture market share through our digital property and its brokerage network and auction platform initiatives. To this end, we formed a dedicated WeBuyBoats.com BDC team focused on direct-from-owner liquidation. In addition, we're working to create metrics to track off-market boat sales through proprietary AI. As we continue to focus on the pre-owned boat market, we believe that we can quickly capitalize on boat trends and help us successful in any market, regardless of whether pre-owned boat prices go up or down. As we think about our growth drivers in the future, I'd like to discuss some of the initiatives that we expect to focus on. Number one, purchase discounted boats for OTH to sell. A fundamental pillar of our strategy is leveraging shifts in supply and demand to acquire boats at discounted rates. Many new boat dealerships are overstaffed and lack floor plan capital, forcing them to turn away pre-owned boat trade-ins and manufacturer offers. This creates an opportunity for us to purchase inventory at below-market prices. Our increased purchasing power will allow us to turn inventory quickly while maintaining high profit margins. This accelerated access to public market capital allows us to expand our floor plan financing either with other floor plan finances or complete financing with our own capital. Two, scaling. We believe that we can create a seamless, hassle-free experience for customers looking to sell their boats. We believe that our digital property will streamline transactions by matching buyers and sellers, while an integrated auction platform will provide additional liquidity for customers and aged inventory. These innovations will increase efficiency, improve customer experiences, and drive higher transaction volumes. Three, advanced technology, enhanced CRM and data analytics. Investments in our proprietary CRM system will optimize our sales process, enhance decision-making, and improve overall operational efficiency. By leveraging data-driven insights, we can refine inventory management, improve customer targeting, and maximize our return on investment. We believe that automation and predictive analytics will further streamline workflow, creating a more agile and scalable business model. Four, expanding financial capabilities. As traditional banks tighten lending criteria, demand for alternative financing solutions continues to grow. We plan on expanding money lending programs to capitalize on this trend, providing flexible financing options to both retail customers and industry partners. We believe that this initiative will strengthen our ability to serve a broader range of clients while generating additional high-margin revenue. Five, strengthening brand and marketing presence. We believe that increasing market efforts will play a crucial role in expanding our customer base, and a combination of enhanced digital marketing, lead generation, and traditional advertising will drive brand awareness and lead conversion. Strengthening the company's online presence and platform capabilities will likely further attract high-value buyers and sellers, reinforcing our strong market position. Six, launch new high-margin services. We believe that the reintroduction of warranty sales, insurance, and auction services will create new revenue opportunities while enhancing customer retention. As you can tell, we have many exciting initiatives to focus on as we continue to strategically deploy our capital. I could not be more excited about what's in store for us. I'm looking forward to continuing to update you on our progress. Turning to our results for the third quarter, please remember that we went public after the end of Q3. Even with the added work of going public, our team continued to drive year-to-date growth. Our story is our year-over-year growth. Year-to-date revenue for 2025 is $82.6 million compared to $69.2 million in 2024, for a growth rate of 19.3%. The number of boats we sold in the Third Quarter was up over 50%, indicating our ability to maneuver with market conditions. Total boats sold in the first nine months of 2025 of 310 is 24.5% more boats than in the same period of 2024. For Q3, we sold 51% more boats overall, with brokerage boats growing by 100% and sales from our own inventory growing 17%. The average price of our own boats that sold in the first nine months of 2025 was $397,000 and $278,000 for the Third Quarter of 2025, and for brokerage, the average boat price was between $275,000 and $300,000 for the first nine months of 2025 and $372,000 for the Third Quarter of 2025. Most importantly, our average growth profit on boats less than $500,000 was 20% in 2025. As I previously mentioned, we have many levers to drive future growth and scalability. Our goals as a company over the next three to five years are to grow top-line revenue that will improve our gross profit margin and drop more money to the bottom line. Now that we are public and our capital structure is being put in place, we can buy boats with our increased floor plan, grow our profitable brokerage business with more and more producing brokers, and leverage the entire life cycle of our customers' boat buying experience. We expect that after our 2026 building year, as we refine our business model with this increased capital, we expect to grow into the ability to drop a substantial amount of gross profit to the bottom line and grow our top line between 20% and 40% and our bottom line between 30% and 45% per year on a consistent basis. I now turn the call over to our CFO, Chad Corbin, who will provide details on our financial results. Chad? Thank you, Brian, and good morning, everyone, and thank you for joining us today to discuss our financial results. I want to begin by thanking our team for their dedication to our customers and their hard work over the past nine months in helping take our company public. Turning to our results. For the nine-month period ending September 30, 2025, year-to-date revenue increased by $13.4 million, or 19.3%, to $82.6 million over the prior year. The revenue increase is primarily due to a high number of boats sold, driven by increased utilization of our floor plan. Our year-to-date gross profit increased by $1.4 million, or 20.8%, to $8.4 million over the prior year. This increase was primarily driven by our increase in overall sales revenue, specifically our pre-owned boat segment. Our gross profit as a percentage of sales increased slightly. This improvement results from management's continued focus on monitoring overhead and direct costs associated with our inventory. In addition, our enhanced margins reflect our purchasing team's strategic and skillful decisions in acquiring pre-owned boat inventory. Year-to-date Selling, General, and Administrative expenses were $6.1 million compared to $4.3 million a year ago. This step up in SG&A reflects intentional investments in our growth, including increased marketing and advertising spend for the year, especially at the highly visible boat shows, which we plan to continue to spend money on this business driver. Additionally, we made investments in our public company infrastructure and scalable operations. This growth is broadly in line with our plan, and we expect SG&A as a percentage of revenue to decline over time as we realize operating leverage. Our year-to-date floor plan interest was $1.4 million compared to $700,000 in prior year. As we continue to expand our wholesale boat activity, we expect the expense to continue to expand, but at a slower rate due to access to public capital and lower interest rates. We also utilize a non-GAAP metric referred to as Adjusted EBITDA. Year-to-date Adjusted EBITDA was $2.6 million compared to $3.1 million for the prior year. As I indicated, many of the expense drivers were related to our ramp-up of go-to-market capacity and public company capabilities designed to support our significantly higher revenue over the next several years. As a reminder, we have already delivered a strong year leading up to our public listing, during which we successfully raised $15 million. I'm looking forward to future earnings calls as we strategically deploy the capital and continue to execute on the initiatives that Brian has laid out for us. With that, I will now turn the call back to Brian. Brian? Thank you, Chad. Reflecting back on the successful 2025, I'm excited at the future as we begin to execute on our strategic initiatives. Our team's laser-focused on driving revenue growth and continuing our scalability. As Chad mentioned, we expect to finish this year strong with significant increases in our pre-owned boat inventory, as well as continued purchase inventory at below-market prices. With that, Chad, Jason, Blake, and I will be happy to take your questions, so operator, please open the lineup for questions and answers. At this time, if you would like to ask a question, press Star, then the number one on your telephone keypad. To withdraw your question, simply press Star one again. We will pause for just a moment to compile the Q&A roster. Your first question comes from the line of Mark Smith with Lake Street Capital Markets. Please go ahead. Hi, guys. First off, I wanted to ask about Autograph Yachts and kind of how we should be looking at that and the potential revenue lift from Autograph here in 2026. Great question, Mark. This is Brian. Blake, do you want to answer that one, please? You're directly involved with that. Yeah. Hey, Mark. Thanks for the question. So Autograph Yachts was an opportunity that we recognized to elevate our presence in the large boat segment. And so we quite commonly acquire large inventory, and we'll call large inventory inventory over $1 million. That inventory requires a greater emphasis on presentation to the marketplace and a greater call to follow through. And so the formation of the Autograph team was really inspired by the ability to represent some of our best and brightest inventory while simultaneously having those very same brokers bring aboard their respective listings. So each of these brokers that we've brought aboard has a really deep portfolio of brokerage listings. So they've brought along their great portfolio of brokerage listings while simultaneously being the listing firm for some of our best inventory acquisitions. It was just a great addition for us to make at this moment in our history. Excellent. And then I know that you guys highlighted some during the call, but maybe if you want to just discuss kind of other growth drivers that you expect here as we look at 2026. Another great question, Mark. Blake, do you just want to continue since you're on a roll here? Yeah, sure. Hey, Mark. So I would say another great growth driver for us would be the fact that we've really taken a page out of the automotive space. The automotive space, because of its breadth and because of its transaction rate, is commonly a great kind of point of reference or point of inspiration, if you will. So we've taken a page out of the automotive space and formed a true business development team that focuses on 7-10X touches on leads that we derive from boat owners seeking quick liquidation. So by leveraging our pre-existing lead generation tools, WeBuyBoats.com and OffTheHookYachts.com, along with our pre-existing infrastructure, our marketing, closings, and accounting team, we're pretty confident that by putting a greater emphasis on inventory acquisitions directly from owners is a significant revenue driver for us. And it'll afford us with tremendous opportunity to connect that very same inventory with buyers at a rapid pace by utilizing our proprietary software. So the majority of our inventory acquisitions have come from boat dealers that we offer wholesale assistance to. We've put good emphasis on acquisitions direct from boat owners by providing a liquidation outlet. And those motives for people to turn to us for liquidation are very much like the same motives that people will turn to a CarMax or Carvana to quickly liquidate their trade. If you're going to buy a new car at a store, it's quite possible that that store is showing you a number, and you want to shop that number against the CarMax or Carvana. Well, people do that very same thing with us all the time. We're putting a greater emphasis than ever in our history on direct- from- owner acquisitions rather than simply putting our greatest emphasis on acquisitions through dealers. Okay. And that kind of leads me to my last question. Just you guys talked on the call a lot about kind of the buying and the selling of boats here. I'm curious just how difficult this is if you're seeing changes in the macro environment and if there are any changes, kind of what risks or opportunities it presents. Another great question. I'll answer this one for you. I think because we're so active, we turn our inventory four or five times a year. We're able to adjust on situations that we see, whether they're economic conditions or conditions within our market. Let's say we're getting less wholesale calls or something along those lines. We're able to adjust our pricing and adjust the level we buy boats at based on what we see, economic conditions, whatever it may be. Because we're so active, we have the ability to do that, and that's why we consistently make money, even up, down, or sideways markets. Excellent. Thank you, guys. Your next question comes from the line of Mike Baker with D.A. Davidson. Please go ahead. Okay. Thanks for taking my question. And admittedly, relatively new to the story, but very intriguing. A couple of questions, if I could, real quick. Just first, simply, I think in the press release, you talked about a swing of a couple of boats that closed in the fourth quarter versus the third quarter. Any way to quantify that? In other words, if you could adjust for those two days, what would the third quarter growth rate have looked like? Chad, that's probably a good question for you to address. Yeah, sure. Yeah. If we had to adjust those, I'd say we are on track with the same growth rate we had for the first nine months. So yeah, it's just the way the timing of those few deals closed out. But we're definitely on track with the same growth rate for the year. So in other words, you're on track, you think, for 2025 revenues to be up 20% year-over-year. Is that the right interpretation? Roughly 20%? Roughly. Okay. Thank you. A couple more questions on just to get to that number, so then to grow to 140-145 for next year. I'm just curious, where do you need to invest mostly? So you have 45 brokers now. Can you get there with that number of brokers, or do you need to add more brokers? And same type of question with advertising, which, at least to my sort of untrained eye here, looks pretty low as a% of sales. It looks like there's maybe an opportunity to invest more in advertising. Or do you need to invest more in advertising to drive that kind of revenue and then presumably ultimately leverage that investment? I'm just sort of curious what kind of investment you need to get to the kind of growth rates you're thinking about. This is Jason Ruegg. To get to that growth rate, really the biggest thing is going to be, which were the final stages of securing our new floor plan. It's going to be securing that floor plan. Really, with the brokers we have now, I think we could hit those numbers. But we are still going to be hiring. We're going to be building up our sales team quite a bit this year. I mean, in the last quarter, I think we've already hired like 10 or 11 more brokers. I mean, now that we've IPOed and we're about to ramp our marketing up, we have our new or not our new, but we've had our operating software that we're about to do our base of our Version 2 of. We're going to launch Q1. We're going to be set up to hire quite a few brokers next year, but that is one of the drivers, but really, the biggest driver at this point is just getting the new floor plan secured because the boats are out there. The deals are out there. We have people coming to us just organically. We're going to ramp that up quite a bit once we get the new floor plan, and really, it's going to come down to getting that extra capital. Got it. Got it. Makes sense. All right. One more, maybe along the same lines. Well, just as you grow, I suppose, what's the different margin structure? Presumably, it's a higher margin when you buy a boat from an individual owner versus a dealer. Correct me if I'm wrong on that. But what kind of margin swing do you get there? And ultimately, if you get to $140 million-$145 million or then grow 20% on top of that, etc., what's the right mix long-term on the number of cars you buy from individuals versus dealers? If you think about you compare yourself to Carvana, that's always a big thing for them to try to push more sale purchasing from everyday consumers because the margins are just so much higher. Is that a related question? It's really hard to say because we can't control who is going to, in a certain month, who's going to be wholesaling more boats out between private individuals and dealers. I would not say it's. I mean, we do get a lot of great deals from private sellers, but we also get a lot of great deals from dealers. A lot of times, you buy that boat from the dealership, and that customer trades the boat in, and the customer they show them one number, and they have a lot of margin on that new boat that they're selling to the guy. So they'll typically sell it to us for less than what they actually gave the guy in trade. So I wouldn't necessarily say that we get better deals from private sellers with, what is it, a million boats or so a year. I mean, a lot of that are private transactions. I just think we're not tapping into the private market quite enough right now. That's really going to be something we're going to be focusing on here going forward. As far as the mix goes, it's really hard to say. We'd love to get a lot more of the boats that are under $500,000 because we typically see about 20% margins on those boats. But we're kind of a one-stop shop. We have to take what we can get from everybody. So it's impossible to say what we will get in a certain quarter. I mean, we could focus on certain things. For sure, we'll probably focus more and more on trying to get more of these boats that are running at a $500,000 price range. Got it. Awesome. All right. Appreciate the call. Thank you. That concludes our question and answer session. I will now turn the call back over to Brian John for closing remarks. Thank you, everybody, for taking their time today. And thank you for the great questions from the folks on the phone today. We certainly appreciate it as our first earnings call. I think we're on the right track, and we're very excited to execute on our well-defined business plan. And we're super excited for our next earnings call. I think you guys will be impressed on what we do moving forward. Ladies and gentlemen, this concludes today's call. Thank you all for joining. You may now disconnect.