I would now like to hand the conference over to your speaker today, John Evans, Investor Relations. Please go ahead. Thank you. Good afternoon, everyone, and welcome to Off The Hook's Fourth Quarter and Full Year 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. Later on, Blake Phillips, the COO, will join us for Q&A. Jason will begin the call with an overview of the business, followed by Brian, who will discuss our performance and strategic initiatives, and Chad will then review the financial results, after which we will open the line for questions. I'd like to start reminding you that certain comments on this call 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 10-K and other filings with the Securities and Exchange Commission, which can be found on our investor relations section of the company's website. Also on today's call, management will make comments referring to non-GAAP financial measures. Management believes 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 Yachts and other companies on both a GAAP and a non-GAAP basis. The reconciliation of 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 full year 2025 results are made against the full year 2024 results, unless otherwise noted. I also like to remind everyone that today's call is being recorded, and an archived version of the call will be available on the company's website sometime after the call. With that, I'd like to turn the call over to Off The Hook's President and Founder, Jason Ruegg. Jason? Thank you, John. Good afternoon, everyone. I appreciate you joining us today. First, I want to thank our team across the country for the work that went into delivering a strong year in 2025. The progress we've made reflects a lot of hard work, long hours, and relentless focus on execution. I'm incredibly proud of what this team has built and grateful to everyone who helped bring us to this point. Off The Hook YS combines what is best about the boat business on one scalable platform focused on the acquisition and resale of pre-owned boats. This platform allows us to combine buying boats from boat brokers and individuals who want to sell their boats in order to move into a newer, larger boat. It combines a real-time AI-enhanced pricing engine that contains over a decade's worth of real-time listing and transaction data, along with the ability to help calculate cost and expected ROI on the boat. Most importantly, it combines a CRM feature that makes it easy for our brokers and buyers to track and complete transactions profitably and quickly. This weekend, we premiered this new AI-driven second version of our platform with tremendous success. We were swamped with hundreds of leads that are being attended to in real time and should result in the purchase and sale of boats in the near term. We scale primarily through three levers, expanding our broker network, increasing access to inventory, and expanding the capital available to acquire boats. Our brokers can operate from anywhere. Our inventory can be sourced nationally and increasingly internationally, and our technology platform allows us to efficiently match buyers and sellers across markets. The opportunity in pre-owned boats remains robust. Roughly three-quarters of all boat transactions in the U.S. involve pre-owned vessels, and yet the process of buying and selling them remains highly fragmented and inefficient. Our platform continues to bring speed, transparency, and liquidity to that market. We're building the future of used boat sales, a platform that enables thousands of people to buy and sell boats from anywhere, backed by our technology, capital, and infrastructure. This is not a traditional boat dealership. It is a scalable, decentralized marketplace built for how boats will be bought and sold going forward. Although we have always been the nation's premier pre-owned boat buyer and seller, we have the desire to increase our new boat sales. We're being very selective in regards to what brands we represent in certain markets where we have a large database of people who have sourced or bought boats from us and have shown a desire for new boats. We only want to sell new boats that allow us to maintain the same passion and energy that we bring to the pre-owned market. Another advantage of our model is that we maintain discipline in real estate. We don't believe growth requires building expensive retail locations everywhere. Instead, we pursue physical infrastructure only when it clearly improves the economics of the business, whether that's lowering our storage costs, improving service capabilities, or increasing inventory velocity. A good example of that approach is our recently announced agreement to acquire Apex Marine Group in South Florida, which will add significant service, refurbishment, and storage capacity to support our growing inventory pipeline. This type of infrastructure allows us to process boats faster, reduce third-party costs, and ultimately improve margins and scalability. Brian will talk about the Apex transaction in more detail shortly. As we look ahead, our focus remains simple. Continue expanding inventory access, continue growing our broker network, and continue building the technology-driven marketplace that allows to move boats more efficiently than traditional dealers. With that, I'll turn it over to our CEO, Brian John, who will walk through our performance in 2025 and discuss the strategic initiatives driving our growth into 2026. Brian? Thank you, Jason, and good afternoon, everyone. We appreciate you joining us today. As Jason mentioned, 2025 was a transformational year for Off The Hook Yachts. We delivered record revenue of $119.9 million, representing growth of over 21%. We also achieved record unit volume, selling 426 boats during the year, an increase of more than 32%. Importantly, this growth was not driven by a single initiative. It reflects progress across multiple parts of our platform, including stronger broker productivity, improved inventory availability, and continued momentum in our brokerage operations. We believe these results demonstrate the scalability of our model. As we expand inventory across and increase the productivity of our brokerage network, we're able to drive higher transaction volumes while maintaining disciplined cost control. Importantly, we closed the year with particularly strong momentum. Because we operate across both brokerage and company-owned inventory channels, we have multiple ways to generate transaction volume depending on market conditions. The flexibility allows us to maintain velocity even during periods of price volatility or shifts in consumer demand. Another important milestone in 2025 was our successful initial public offering in November. The IPO strengthened our balance sheet, increased our access to capital, and positioned the company to accelerate growth in the coming years. At year-end, we had approximately $12.4 million in cash and significantly improved working capital compared to the prior year. Access to capital is particularly important to our industry because it deeply impacts our ability to acquire inventory. The more efficiently we can source and carry inventory, the more transactions we can drive across our platform. That brings me to several strategic initiatives that we believe will drive the next phase of our growth. First, early this year, we announced the expansion of our inventory floor plan financing facility to approximately $60 million, more than double our capacity from the roughly $25 million level prior to our IPO. This is a very important development for our business. A larger floor plan facility gives us substantially greater purchasing power and allows us to acquire more high-quality used boats as they become available in the market. Increased inventory availability also improves customer conversion rates, enhances broker productivity, and supports higher transaction velocity across our platform. Second, we recently announced the signing of a definitive agreement to acquire Apex Marine Group, a premier marine service, storage, and sales organization based in South Florida. The acquisition will add four strategically located South Florida facilities, along with haul out capabilities for large vessels, refurbishment infrastructure, and a highly experienced marine service team. Bringing these capabilities in-house allows us to significantly reduce our reliance on third-party service providers that we believe will accelerate the turnaround time from boat acquisition to resale and allow us to control the costs related to prepping and storing of boats. Equally important, Apex facilities give us the ability to process a much larger portion of our acquired inventory internally. That means faster refurbishment cycles, more consistent quality control, and significantly improved inventory velocity across our platform. South Florida is one of the most important boating markets in the world, serving as a hub for both domestic and international yacht buyers. With the addition of Apex, we will be able to create a centralized destination where buyers from around the world can access a large selection of competitively priced inventory in a single location, completing our existing technology-driven marketplace. We view Apex as an infrastructure investment that strengthens multiple aspects of our business at once, expanding service revenue, improving margins by reducing operational costs, and increasing the speed in which inventory moves through our platform. We believe these improvements will support our long-term objective of scaling transactional volume while maintaining strong operational discipline. Beyond Apex, we made important progress expanding our geographic footprint through strategic partnerships. Early this year, we announced a partnership with Jefferson Beach Yacht Sales, which gives us access to the Great Lakes region through a right of first refusal structure on yacht trades generated through their network. This will allow us to expand inventory sourcing in an important boat market without the need to build out a traditional dealership footprint. We also announced a strategic agreement with CFR Yacht Sales in Puerto Rico, providing us with a gateway into the Caribbean and broader Latin American markets. These partnerships reflect our asset-light approach to expansion. Rather than building physical dealerships at every market, we partner with established operators while leveraging our centralized operating platform to transact boats across regions. Another initiative we announced recently is a nationwide dealer incentive program developed through our partnership with flyExclusive. This program is designed to deepen engagement with dealer partners and encourage increased inventory flow into our network. Expanding the pipeline of boats entered into our platform remains one of the most powerful drivers of transaction growth. We are bidding on over 500 boats a week, combined with our NextBoat AI that addresses one of the marine industry's core inefficiencies, fragmented inventory discovery and prolonged transactional cycles. NextBoat AI allows consumers to simply input details into their current vessel and their desired next purchase. NextBoat AI then analyzes Off The Hook Yachts' pipeline of proprietary data. Using artificial intelligence, this system generates real-time matches and presentations tailored to the user's preferences. As new opportunities enter the pipeline, the platform continues to refine and present additional matches until the ideal vessel is identified. Taken together, these initiatives, expanding floor plan capacity, strategic acquisitions like Apex, geographic expansion through partnerships, and deeper dealer relationship, all focused on the core objective, increasing inventory velocity and transaction volume across the Off The Hook platform. Looking ahead, we remain confident in the long-term growth opportunity for the business. For 2026, we are raising revenue guidance to $150 million-$155 million. We believe Off The Hook is still in the early stages of building what we intend to become the leading marketplace for pre-owned boats in the U.S. Our vertically integrated platform, which combines inventory acquisition, brokerage, finance, and technology-driven transaction tools, positions us to capture a large share of a highly fragmented market. The key advantage of this approach is that a single boat transaction can generate revenue across multiple parts of our business, from brokerage commissions to financing and other value-added services. One important component of that model is Azure Funding, our in-house recreational financing platform, which provides marine loans along with insurance extended warranty products that simplify the purchasing process for buyers while generating additional long-term margin revenue streams for the company. Today, a large portion of Azure's lending activity originates from external brokers and dealers, which highlights both the strength of the platform and the opportunity ahead. As we continue to scale our own brokerage and inventory transactions, we expect to increase the attachment rate of Azure's financing and related services within our own sales ecosystem. Over time, we believe this integration will enhance our customer conversion, increase transaction efficiency, and expand the lifetime value of each boat sale on our platform. One element that continues to differentiate Off The Hook is the depth of data we've accumulated over more than a decade of transactions across the marine market. That proprietary data increasingly powers with AI-driven tools embedded in our platform, help us price inventory more accurately, match buyers and sellers more efficiently, and ultimately move boats through our system faster. With that, I'll turn the call over to our Chief Financial Officer, Chad Corbin, who will speak to you through our financials in real-time more detail. Chad? Thank you, Brian, and good afternoon, everyone. Starting with revenue, for the full year 2025, we generated record revenue of $119.9 million, representing an increase of 21.1% compared to $99 million in 2024. This growth was primarily driven by the high utilization of our floor plan financing facility, which enabled us to maintain greater inventory availability and increase the number of boats transacted across our platform. Looking at our sales mix, pre-owned boat sales increased 20% year-over-year to $101.7 million, reflecting strong demand across our nationwide broker network and improved access to inventory. Our new boat segment also performed well, with revenue increasing 32% to $14.5 million compared to $11 million in 2024, driven by increased marketing efforts and stronger sales focused on certain new boat brands. During the year, we sold approximately 426 boats compared to 321 in the prior year. Revenue generated through Azure Funding, which includes financing, insurance, and extended warranty products arranged through third-party institutions, was $2.6 million for the year compared to $3 million in 2024. This decrease primarily reflects the higher mix of cash purchases among higher-end buyers, as well as continued elevated marine loan interest rates relative to historical averages. Turning to profitability, gross profit increased 30.6% to $11.5 million compared to $8.8 million in 2024. Gross margin improved by approximately 70 basis points to 9.6%. That reflects a stronger purchasing discipline and continued improvements in our inventory sourcing strategy, particularly with the pre-owned segment. Within gross profit, pre-owned boat gross profit increased 32.1% to $8.4 million compared to $6.3 million in the prior year. While pricing conditions across certain segments of the market remain competitive, our team continued to manage inventory turn carefully while maintaining disciplined buying decisions. Operating expenses for the year were $10.7 million compared to $5.8 million in 2024. The increase reflects investments in marketing initiatives and operational infrastructure to support the company's growth following our initial public offering, along with $1.8 million in stock-based compensation recognized during the year. Interest expense related to our floor plan financing increased to $1.9 million compared to $1.1 million in 2024, reflecting increased utilization of inventory financing as we expanded transaction volume throughout the year. As a result of these factors, the company reported a net loss of $1.5 million for the year compared to net income of $1 million in 2024. The change primarily reflects higher operating expenses associated with scaling the business and expenses related to becoming a public company. On a non-GAAP basis, adjusted EBITDA was $0.5 million compared to $1.2 million the prior year. Turning to our balance sheet, we ended the year with $12.4 million in cash, reflecting the proceeds from our successful IPO completed in November. Total current assets were $39.9 million compared to $28.9 million the prior year, while working capital increased significantly to $9.4 million compared to a negative working capital of $0.4 million at the end of 2024. The improvement in working capital was primarily driven by the $13.4 million of cash proceeds generated through the IPO, which strengthened our liquidity position and provided additional flexibility to support our continued growth initiatives. Since our IPO last year, we've grown from 35 brokers to almost 100 expected by the end of Q1 2026. Our hiring approach deliberately incorporates mentorship to help every new broker achieve full productivity. As Brian said, we are raising our revenue guidance for 2026 to a range of $150 million-$155 million. With that, I will turn the call back to Brian for closing remarks before we open the line for questions. Brian? Thank you, Chad. As we reflect on 2025, we are very proud of the progress our team has made across the business. We delivered record revenue, record unit volume, expanded our broker network and successfully completed our initial public offering, which strengthened our balance sheet and positioned us for the next phase of growth. Looking ahead, we believe we are still in the early stages of building what we intend to become the leading marketplace for pre-owned boats in the United States. The industry remains highly fragmented, and we believe our combination of inventory expertise, nationwide brokerage network, integrated financing capabilities through Azure, and our technology-driven platform position us well to continue to capture market share. On behalf of our entire leadership team, I want to thank our employees, partners, and investors for their continued support. With that, operator, please open the line for questions. 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 Scott Stember with Roth Capital. Please go ahead. Good afternoon, and thanks for taking my questions. As you guys expand outside of the Southeast, could you give us some primary targets for geographic expansion going forward and maybe some timing? Yeah. Jason, do you want to? Yeah. Sorry. Right now, we've already expanded in the Southeast now with the Apex acquisition of Stuart, Jupiter, Fort Lauderdale. We have a massive yard in Miami, 8.5 Acres. Next, we'll be looking on the West Coast of Florida. We're looking at a couple of sites in Tampa. We already have a small office there now. Definitely Naples, and we're already expanding to the Northeast now. Then we're also talking to a group out of the Panhandle about coming on board with their entire team. California, Seattle, and then from there, we'll move into the Great Lakes, and then we'll hopefully start, you know, looking more, you know, international as well. Just really any place where people buy and sell used boats is a place that we can operate and, you know, buy and sell inventory. Got it. It seems like you're in a good spot regarding your funding for used boats. How are you guys set up as you guys you know continue to grow on the new side? Maybe just talk about you know how you're set up there. [crosstalk] [crosstalk] We have a Yamaha floor plan right now, and we're close to getting approval on a Wells Fargo floor plan for new boats. Then for our other floor plan we have for used, that also can be used for new boats as well. We have, you know, plenty of funding for the new boats. It's actually really easy to get funding for new boats. You know, as we grow that, we'll continue to expand on our funding for that. Got it. That's all I have right now. Thank you. Your next question comes from the line of Mark Smith with Lake Street Capital Markets. Please go ahead. Hi, guys. I wanted to ask first just some of the performance drivers here in the quarter. Can you just walk us through a little bit on kind of boat volumes and selling price, kind of how those moved during the quarter? You know, any updates as we look at this next quarter on how the business is trending? Chad? Yeah. I'll answer that. Hey, Mark. So for our drivers, let's say our floor plan, you know, getting that increase, we were able to increase our utilization for our floor plan by over $2 million last year. All of our results are obviously prior to us getting the current approval for the $60 million plan. You know, our average price for the year for our units, for our inventory units was around $450,000 per unit. So it's a little less compared to the prior year. But, you know, it's going to fluctuate throughout the year. You know, we do focus, you know, try to focus a lot on the $300,000-$ 600,000 price range. That average is kind of right in line with what you know what kind of our core focus on some of those center consoles that you know price out about that range, and they offer us usually the best margins. For the year, we sold 240 inventory units, and we had transacted 186 brokered transactions for the year. Increasing our floor plan and obviously increasing our number of brokers was part of our key drivers for the year. Perfect. I wanted to ask just on Autograph Yacht Group here, any real updates on that business and then, you know, if that business has any real impact on the raised guidance? I guess I'll take that one. This is Brian. Mark, that's a great question. Autograph, we put out a press release about their performance early in the year, probably four months in. It probably launched and started before a little boat show, and these guys are doing an incredible job. We just announced the opening of our Jupiter office, where most of those guys at Autograph are located. It's a fantastic spot. There's more and more brokers in there every day because I get the ability to sit upstairs and watch those guys, but those guys are absolutely killing it for us. We couldn't be happier at what they're doing. They're a big part of everything we're doing, and we definitely look forward to what they continue to bring in the future. I mean, we just closed the [inaudible] today. Go ahead. We closed the 110 today that those guys found for us. We never would have found that boat if it wasn't for them. That's just one example. We just bought a 100 Riva, came right from that team. We're buying boats that we never even would have either heard about before or probably been too nervous to do them just 'cause it's not really like our market, some of these bigger boats. Just the margin of these big boats, just it's unbelievable. Like, you can offset the entire month overhead with one boat, some of these big boats. It's definitely been a game changer having those guys. That's exactly what I was gonna say, is just they've brought in some other opportunities on the purchasing side for us. It's been a great partnership so far. Excellent. Thank you, guys. That concludes our question and answer session. I will now turn the call back over to Brian John for closing remarks. Well, that was quick. Well, thanks everybody for getting on the call again. This is our second call, our first year-end call. I would expect first quarter to look, you know, similar percentage-wise growth to what we've done the last quarter of the year this year, without giving guidance on the quarter. I also want to point out that all the stuff we discussed today, the growth today, everything we've done so far doesn't include our, you know, floor plan going from $25 million- $60 million. We now have double the buying power, and that just took effect about a month ago. So that's new, and obviously the Apex acquisition is new. That doesn't include anything that Apex has done. It's too early for us to tell how much money it's going to save us until we get in and move boats around and kind of get in there, and then we'll be able to kind of figure out as we go along. We look forward to, you know, seeing what it brings and seeing the cost savings that it brings us all moving forward. I thank everybody again for jumping on the call. We certainly appreciate your support, and we look forward to our next earnings call. Thank you, everybody. Ladies and gentlemen, this concludes today's call. Thank you all for joining. You may now disconnect.