Morning, and welcome to Park Dental Partners' second quarter 2026 earnings conference call. Today's call is being recorded. At this time, all participants on a listen-only mode. Following the prepared remarks, management will open the call for questions from its analysts. Some statements made during the call today constitute forward-looking statements made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. Those risks and uncertainties are described in the company's earnings press release issued yesterday and in the company's filings with the SEC. The forward-looking statements made today are as of the date of this call, and the company does not undertake any obligation to update the forward-looking statements. Please note the terms company, we, our, and us refers to Park Dental Partners Inc. and its affiliated dental practices. Today's call will also include certain non-GAAP measurements. Please see the company's earnings press release for a reconciliation of those non-GAAP financial measures. The press release is available on the company's website. I will now turn the call to Mr. Pete Swenson, Chief Executive Officer and Chair of the Board for Park Dental Partners Inc. Please go ahead, sir. Good morning, everyone, and thanks for joining Park Dental Partners' second quarter 2026 earnings call. Joining me today is our CFO, Christopher Bernander. Before discussing our results, I want to thank our doctors and team members across the organization. Every day, thousands of patients put their trust in our organization, in the doctors and team members who care for them. Providing high-quality care and a great patient experience remains at the center of what we do and ultimately drives the long-term strength of our business. As always, we remain focused on three priorities: our patients, our people, and our performance. We believe those priorities reinforce one another. Taking great care of patients requires great people, and when we do both of these things well, we believe strong and sustainable performance follows. The primary message from the second quarter is that we continue to make progress against our long-term growth strategy. Our second quarter results were consistent with our expectations and reflect continued execution across our practices. Revenue growth remained on track, and patient retention stayed above 90%. We also made meaningful progress on our inorganic growth strategy, most notably through our recently announced agreement with Village Family Dental. Earlier this week, we announced that Park Dental Partners entered into a definitive agreement with Village Family Dental in North Carolina. This is an important transaction for Park Dental Partners, but I want to begin with something that is even more important to us than simply the size of the transaction. We are genuinely honored that the doctor partners and leadership of Village Family Dental have chosen to align with Park Dental Partners for the next chapter of their journey. Village Family has been caring for patients and families in Eastern North Carolina for more than 40 years. Over the years, I had the opportunity to meet Village Family's founder, Dr. Michael Knowles, who has since passed. It was clear to me how deeply he cared about taking care of patients and about building an organization that could serve its community for generations. His influence is still very much present at Village Family today. You see it in the culture of the organization, in the commitment its doctors and team members have to their patients and the communities they serve, and of course, in the discipline with which the organization has been built and operated for more than four decades. I've also known Dr. Anuj James, the Managing Partner of the group, for many years and have developed a deep respect for him. Through this process, I've also had the opportunity to spend considerable time with his fellow doctor partners and other members of the Village leadership team. What has impressed me the most is the balanced focus they bring to their organization. They care deeply about their patients and their people. They are committed to high-quality clinical care as well, and they are also thoughtful and disciplined business people who understand what it takes to build a high-quality organization. That combination aligns extremely well with who we are at Park Dental Partners, and that's why we were excited to begin discussing bringing these two organizations together earlier this year. What is particularly meaningful to us is the trust represented in this transaction. Village Family Dental has a legacy more than 40 years in the making, and we do not take lightly the fact that its owners and leaders are entrusting us to help steward that legacy alongside them. Our objective is not to replace the things that have made Village successful. It is to preserve what is special about the organization, support its doctors and team members, bring additional resources where we can be helpful, and work together to build upon that legacy for the next generation. Upon closing, Village will add approximately 48 doctors across 12 locations in Eastern North Carolina and establish our presence in a new market. We see meaningful opportunities to support continued growth in North Carolina while benefiting from the strength and capability that Village Family brings to Park Dental Partners. We are very excited about what we believe our organizations can build together, and we look forward to welcoming the Village Family doctors and team members to Park Dental Partners following the closing of the transaction. Shifting to strategy and more broadly, our long-term growth strategy remains unchanged. We expect to grow by adding doctors to existing practices, acquiring and affiliating with high-quality practices, selectively developing new locations, and entering attractive new markets over time. During the quarter, we also welcomed Zumbro Family Dental in Rochester, Minnesota. Zumbro and Village Family are very different in size, but together they illustrate our approach. We can partner with a successful individual practice in an existing market or with a larger organization entering a new market. In either case, we remain focused on cultural fit, clinical quality, and growth potential, which all lead to long-term value creation. Our acquisition pipeline remains active, and we will continue to approach growth with discipline. Turning to the quarter, revenue increased 5.1% year-over-year with same-practice revenue growth of 2.3%. As we discussed last quarter, we expected revenue to moderate in the second quarter. This quarter's same-practice growth does not change our overall expectations for long-term organic growth, and we remain on track to deliver our revenue outlook for the year. Patient retention remained above 90%, and we ended the quarter with 219 doctors. Recruiting additional doctors into our existing practices remains an important organic growth opportunity, and we continue to invest in the people and infrastructure needed to support a growing organization. Overall, we're pleased with our progress and remain focused on execution during the second half of 2026. I'll close by highlighting two things. First, developing leaders from within remains an important part of our strategy. In June, a cohort of 10 doctors completed our year-and-a-half-long doctor leadership program series. Developing the next generation of doctor leaders helps ensure that doctors continue to have a meaningful voice in the leadership of Park Dental Partners as we grow. Second, we have now completed five acquisitions over the past year, which contributed approximately $1.3 million of revenue during the quarter. We continue to believe a combination of smaller and selective larger deals is the right long-term growth strategy for Park Dental Partners. The principles guiding us remain straightforward. We think long term, we put patients first, we maintain meaningful doctor involvement in leadership and governance, and we partner with people and organizations that share those same values. We believe the agreement reached with Village Family Dental is a very good example of those principles in action. With that, I'll turn the call over to CJ. Thanks, Pete. Good morning, everyone. For the second quarter, revenue was $66.2 million, representing growth of approximately 5.1% year-over-year. For the first six months of 2026, revenue totaled $128.9 million, up approximately 5.6% from the prior year period. Same-practice revenue growth was 2.3% during the quarter and 3.2% year to date, reflecting continued patient demand, reimbursement growth, and increased provider capacity. It was slightly lower than last quarter due to provider scheduling, timing shifts within the year, and then a tougher comp from 2025. Patient visits remained stable at approximately 186,000 during the quarter and 364,000 year to date, while patient retention remained strong at approximately 90.3%. As a reminder, we still have a few quarters to go before our prior year comps have shareholder-based compensation and public company reporting costs fully included. Thus, our reported results continue to include meaningful impacts from these costs versus the comparison period. Share-based compensation totaled approximately $3 million during the quarter and $7.1 million year to date, of which over 90% is attributed to doctors. These expenses affect both cost of services and general and administrative expenses and continue to be the largest driver of differences between reported and adjusted results. We expect the IPO-based stock compensation to continue to decrease in the coming quarters as the runoff of GAAP recognition occurs. On a GAAP basis, net income for the quarter was approximately $1.3 million, or $0.22 per diluted share, and year to date, net income was approximately $1.0 million, or $0.16 per diluted share. On a non-GAAP basis, adjusted EBITDA for the quarter was approximately $7.4 million, or 11.2% of revenue. Year to date, adjusted EBITDA was approximately $12.2 million or 9.4% of revenue. Adjusted diluted EPS was approximately $0.66 for the quarter and $1.11 year to date. Overall, our performance during the quarter was generally consistent with our expectations entering the year. Turning to the balance sheet and cash, we ended the quarter with approximately $24.4 million of cash and $11 million of debt and an undrawn $15 million revolving credit facility with a $10 million accordion. Year-to-date operating cash flow was approximately $9.7 million, demonstrating the recurring cash generating nature of our business. We anticipate utilizing cash on hand and our existing credit facility to close the Village Family Dental transaction later in 2026. On Village Family Dental, I'll provide some additional color to the agreement we announced Monday. The proposed transaction is comprised of $39.1 million of base consideration and $6.9 million of contingent consideration, which can be earned based on future performance targets and continued employment by the previous doctor owners for a period of five years. The $39.1 million base consideration is expected to be paid out with a mix of cash, debt, and stock, with approximately 24% being stock. When the Village Family Dental transaction closes, we will have some integration. However, we expect it to be accretive to revenue and adjusted earnings, excluding one-time transaction and integration costs. We'll update you with more details when we close that deal. Our adjusted EBITDA in the second quarter results does include an add-back of approximately $400,000 of legal and other deal costs directly related to this transaction. Turning to guidance. Results during the first half of the year were modestly ahead of our expectations, driven by continued solid execution across the organization. As a result, we are increasing our revenue outlook for the existing business. I want to emphasize that today's outlook excludes any contribution from the Village Family Dental acquisition we recently announced. While we're excited about the opportunity in making progress towards closing, the timing and ultimate financial contribution remains subject to closing conditions and integration planning. This is consistent with our past practice of only incorporating completed acquisitions in our outlook, and accordingly, we will provide an updated outlook following completion of the transaction. Overall, we are very pleased with the first half of 2026. Our focus remains on supporting our doctors and clinical team members, growing clinical capacity to meet our patients' needs, deploying capital diligently, and creating long-term shareholder value. With that, I'll hand it back to Pete. Thanks, CJ. The first half of 2026 reinforced our confidence in the direction of the company. We continue delivering results that are consistent with our expectations while simultaneously advancing several important strategic initiatives, including inorganic growth and entering new markets. The Village Family agreement announced on Monday is a great example of how we believe our model is resonating in the dental industry. We look forward to sharing additional details on that transaction as we progress towards closing. We appreciate your continued interest in Park Dental Partners and look forward to updating you on our progress in the months ahead. With that, we will take questions. Thank you. As a reminder to ask a question at this time, you will need to press star one one on your telephone and wait for your name to be announced. Please stand by while we compile the Q&A roster. Our first question coming from the line of Luke Horton with Northland Capital Markets. Your line is now open. Yeah. Hey, Pete. Hey, CJ. Thanks for taking the questions and congrats on the quarter. Just wanted to start off with the Village Family Dental. Can you give us a backdrop for just how long did it take to get this deal closed and how quickly can you integrate? Sure. Thanks for that question, Luke. The dental industry is a pretty small world, even nationally. As I mentioned earlier, we have known the Village Family team for many years. They are deeply involved in the American Academy of Dental Group Practice, which is where we first developed our relationship. So conversations have occurred over a very long period of time. I think it really began in earnest earlier this year, coming to terms. I would just say in terms of integration, those conversations are already occurring. The planning is underway. Village is a very sophisticated organization. They have been around for 40 years. So we are all looking forward to learning from one another and looking for best practices across the two groups. I think really just focus on execution here in the second half of 2026, including getting to closing, then moving forward with all the integration activities. Got it. I guess just to follow onto that, trying to get a sense for just how much bandwidth or resources the integration will take, if this would take you out of the market for a similar size deal for a chunk of time, or would you be able to continue evaluating other deals while still doing the integration with Village? Yeah, I think right now, again, we're just really focused on getting to closing. Of course, we're very cognizant of resources and making sure that we have a sustainable approach to that integration. I'll just reinforce, Village Family has resources, so we're looking forward to the combined organizations really coming together and providing a platform for further growth. Okay, great. I guess, could you just frame for us how you beat out private equity on this transaction? I'm sure they were probably very interested as well. Just what was ultimately the reason for going with Park Dental? Yeah, I guess I would just say we're not going to comment on detail of any particular deal and how it came together. I would just reinforce what I said earlier. The relationship goes back many years. I would say our model is resonating with doctors, in this case, doctor-owned groups, where we have this long commitment, deep commitment to a dyad leadership model, where we have doctors paired with operational leaders, and also a commitment to doctors participating directly in the governance of the organization on our board of directors. Those were considerations and important ones, I think, for the Village Family team as they think about who is going to steward the organization with them going forward. Got it. Then just lastly from me, how are you feeling just about the overall M&A pipeline now? I know last quarter you guys mentioned it was a lot better than a year prior. Just any changes in the pipeline or interest since last quarter? I would say consistent with last quarter, still feeling good about where things sit, meeting some terrific people in different parts of the country. Again, trying to build scale in Arizona as well, so that'll remain a focus. As we get to closing with Village Family, they actually have a history of growing through acquisition as well. So we'll be coming alongside them and working on those opportunities as well. All right. Great. Well, thanks for taking the questions and congrats on the acquisition and nice quarter. Thanks, Luke. Thank you. Our next question coming from the line of Matt Hewitt with Craig-Hallum Capital Group. Your line is now open. Good morning, and congratulations on the quarter and the nice transaction. Maybe along those lines, that is a bigger organization, obviously, than you have purchased over the past year, and I am just curious, with an organization that size added to Park Dental Partners, is that going to give you some leverage from a purchasing standpoint with your vendors? Thanks for the question, Matt. I would say yes. We have a long history. If you were to talk to our business partners, we are definitely in a lot of long-term partnerships there, and they will come alongside us in North Carolina to ensure that we are getting the best prices possible on the inputs to the business. Great. Then you've announced several other smaller acquisitions, and I'm just curious, how are those integrations going? Are they kind of on track, maybe ahead of expectations? Have you learned anything as you've moved into some of these other markets that you can kind of extrapolate into Minnesota or the Midwest? I would just say we're always learning. It's an expectation we have of one another here. Yes, in Arizona, as we brought on those practices, there are unique variables in every state, and we continue to learn what is different in Arizona. We're really developing relationships in Arizona at this point in this phase, getting operations integrated from a system standpoint, and then really trying to assess what are the opportunities to grow in both Phoenix and Arizona, and that's really where we're at. So I would say we're on track, and you should expect us to continue in the years to come to build scale in Arizona. Great. Thank you. Thank you. I'm showing no further questions in the Q&A queue at this time. I will now turn the call back over to CJ Bernander for any closing comments. Thank you, and thank you all for attending our earnings call this morning and your interest in Park Dental Partners. We appreciate your time and look forward to our next interaction with you. Have a great rest of your day. This concludes today's conference call. Thank you for your participation, and you may now disconnect.