Tami Newcombe and CFO Neill Reynolds. I think, Tami, you have some opening remarks, and then we'll get into Q&A. Yeah, thanks for having us, Piyush. Thanks for everybody here in person and those that are joining us virtually. It's a pivotal time to be a part of Ralliant. We've just completed our first two quarters as an independent, publicly traded company and starting our first full year. It was a year ago, i t's been interesting being here today, 'cause a year ago, I was at this conference, and if I think back to a year ago, we were planning to spin at the end of the year. And to realize we did that two quarters early is really, really quite an accomplishment for the team. I also think about we are really pragmatic about ensuring that the presidents in our operating businesses stayed focused on our customers, and were removed from any of the noise about standing up the public company. And they focused on customers, they focused on new product innovation, they were focused on growth, 'cause that was one of our thesis is we could grow these businesses faster. And as we come into 2026, we look at our guide for Q1, and that guide is a 5%-8% growth on businesses that had traditionally been growing 3%, and both segments growing. So Test and Measurement back to growth. And what I say to the team is, "And we're just getting started." We posted the presentation today and filed an 8-K, so you can find the presentation on our website. And also, there's some new information here, so we did post an 8-K. So there's a couple messages that I wanna share today. The first one is to just state, as we're getting started here, we are building a company to endure for decades to come. We believe in the long-term value of this company, and with that, we have executed on a share buyback for $39 million. We have authorization for $200 million, but wanted to share that we had executed that. Second, as we thought about our guide for 2026, the midpoint of our growth we shared was at 4%. The adjusted EBITDA, the profit in the business, is 18%-20%. That is below the long-term guide that we shared during our Investor Day. In Investor Day, we talked about 3% growth, which we're seeing, opportunity to overachieve that this year, but we also called low- 20s to mid-20s in adjusted EBITDA and profits. So we're gonna talk today, give a little bit more clarity on how we got there, and then a little bit. I think what's most important is, what are we doing about it? And we'll get into that. And then I just wanna give a quick shout-out to the team. In our first two quarters, for the metrics that we guided, we were at or above each of those for Q3 and for Q4. So great job. Great job by the team. The next three slides are an overview on Ralliant for those that are new to the company. I'm gonna combine two of them here and start on, I think this is slide 6. I can't see the slide numbers. I think we're on slide 6. Yep. So Ralliant is a global precision technologies company. We design, manufacture, sell, and service products. It's good to be a products company these days. We sell products to customers that care about uptime, they care about accuracy, reliability, in typically harsh and demanding environments. We refer to them as critical, mission critical, outdoor environments. Our end users, and what our employees are extremely proud about, is we serve engineers and scientists and innovators around the world. Our growth strategy, which we have shared, and really the progress that we're making on this, starts with RBS Everywhere. This is core to who we are. This is our operating rigor, this is our toolkit for how we get after driving efficiencies in our business, and how we drive innovation and growth across the business. I'll come back to this as we start getting into the what we're gonna do about it. In our stronghold positions, this is where we're embedded, an extensive installed base. We've been there for decades. We have customers that trust us, very loyal customers. We're still innovating there. We're still investing there. One of the examples is in how customers now can find parts replacement, 'cause if you've had a part for 15 years in a manufacturing facility, maybe a dairy plant, and something fails, well, you can now click a picture as a technician and be able to know exactly what part that is and what distributor has that in stock. That's how we think about innovating in our stronghold positions, for our customers there to create more lifetime value and reduce friction. We spent a lot of time talking about our winning growth vectors. This is where we see secular trends that we expect to last for years, where we believe we can outperform the market, 'cause we're very well positioned to win here. And this is in defense, utilities, and power electronics, which is really electronics anyplace, whether it's at the low end of consumer or the high end of really power-thirsty applications, power electronics is critical. We go to market in two segments, and we're diversified across a number of different end markets. But what our customers know and trust are the flagship brands you see across the bottom. That's what customers talk about. They'll ask for a Keithley We need a Keithley." It's strong brand recognition, and it's not just about the product, it's really about the domain expertise that we've been bringing to our customers. We understand that application, that electronic device under test, how you do that test. We understand in some of our niche applications, exactly the issues that they're going to have in that environment, and they come to us for that domain expertise. But we've been doing this for decades, and truly creating that value with our loyal customers. Now I'm going to step into the guidance and long-term targets. These were shared in our earnings call about a week and a half ago. I'm going to go a step deeper to provide some clarity. From a revenue growth standpoint, midpoint of our guidance here is 4%, with a high end of 6%, and that's growth across both segments. I think T&M back to growth is a positive for us. The low point of that business was Q1 of 2025 in the Test and Measurement space. Every quarter last year, we saw the business improve, the revenue was bigger every quarter, and turned to positive here in Q1. Our adjusted EBITDA margins, I called out that the 18%-20% guide for 2026 is below our Investor Day long-term target, and therefore, our commitment here on higher incrementals, the incrementals of 40%-45%, as we move back into our target profit ranges. And I'm going to, I'll talk about some of what we're doing about it, but at spin, we did talk about our Cost Savings Program. We came right out of spin and announced a $9 million-$11 million Cost Savings Program to get after some of the cost takeout we needed to do from the dyssynergies. This is our first full year as a public company. We have an adjusted EPS of $2.22-$2.42. And then, another example or result of our discipline and rigor, our RBS playbook, is the amazing free cash flow the team was able to generate last year at 117%, and continue our commitment to be above 95%. I wanted to now just make sure we are clear on our adjusted EBITDA margins. We have provided a breakdown here, and I'll start with just number 1, and there's a sheet behind this that goes into even more detail. But I think just to be blunt about number 1, our OpEx costs in a steady state, when we landed as a public company, are higher than we had anticipated. We talked about this increase in our August earnings call. We talked about an OpEx number, if you remember, a 170 number we talked about, and when we announced our earnings just a week and a half ago, we missed on that number, and it's a 175 number that was actuals on that. That's where if you take our Q3 and Q4 OpEx, and you normalize that for a full year, we didn't have a full year as a public company, but we wanted to do that normalization just so that we understood where we're starting from, and we would build from there. We can, we can answer any follow-up questions that you have on that. Some of these costs are corporate costs, some of these costs are employee costs, which show up in the segments, and then some of the costs are dyssynergies, just less price leverage as a smaller company. I'm going to spend some time now on number two and number three to talk about what are we doing about it. So this is the detail that I just spoke through that you have in your backup. And then here is how we get after it. And we have a proven track record as an organization. If you recall, this was a segment, and between 2019 and 2024, we proved that we can grow our profit, which is our adjusted EBITDA, faster than our revenue. And how we do it is really our Ralliant Business System and our RBS playbook. I talked about getting out of the gates quickly with a cost savings program. Our RBS productivity initiatives, those span labor productivity, sourcing, savings, price realization, tools, value engineering that we do. All of those productivity initiatives happen underneath how we run the business. We also do dynamic resource allocation, and we had a couple actions taken within the operating companies in the fall timeframe to shift some G&A to more R&D to drive growth. Through all of this, we're expected to deliver 40%-45% incremental adjusted margins, and that is above-- that's in 2016 or 2026, flashback 10 years ago. And that is above what we had set at our Investor Day, which is the right thing to do because our overall margins are below. So growing top-line profits faster than revenue, that's step 1. We add to that with growth. And our growth opportunity in front of us starts with the 30% of our business that is in defense and utilities, the top two there. At Investor Day, we called this market around 5%-7%. As we came out of the Investor Day in Q3 and Q4, we've continued to get incrementally more positive news about these spaces. In the defense space, we've seen replenishment, which has driven almost a 2x backlog in our business there. In utilities, there is a super cycle of expansion going on in the electric grid worldwide, which is driving an up above the 5%-7% that you see on this chart. And we've experienced some of that. We expect that to continue. That's 30% of our business that is outgrowing our expected market growth. Our industrials business, which has been soft for the last 2-3 years, we've seen there was supply challenges, there was tariffs, there was uncertainty. We're starting to see a pickup now in the U.S. We had a nice Q4 in our industrials business, and we believe that the near term, we're probably at the high end. It's maybe a little above that range, but very healthy in our industrials business. And then Test and Measurement. The headline is we're back to growth in 2026, in our first quarter, and we're expecting this business to grow throughout the year. We had several new product innovations that were announced last year. Total amount was 8, which is about twice what we've seen in our Test and Measurement business in prior years, and we're going to build on that. We announced a couple platforms that will allow us to innovate even faster. But this is the combination of our RBS playbook and doing what we've always done at lower growth, and then really turning our sights to a higher growth, is the combination of how we first deliver those incrementals and then get back into our long-term range of low- 20s to mid-20s in our adjusted EBITDA. We've, w e're executing against our capital allocation approach. We've outlined a couple places that we want to invest organically. We want to ensure capacity in our defense and our utilities business. We want to continue to fuel some selling resources, especially with some AI augmentation to scale and drive productivity, and then continue to invest in our best innovation ideas. You've seen us return capital. We, we have done the buyback, we've authorized the dividend, and we're toggling that with tuck-ins. Continuing to keep a good funnel of tuck-ins, but right now focused on returning that capital. I think this is probably a good place for me to wrap up. You know, there's no change in the formula. We're just more energized and excited about delivering it. We believe we have the growth opportunity there. We'll be pragmatic, and we've got the discipline and the rigor to deliver the margins we talked about. You've seen our ability to convert the free cash flow, and you've seen us return capital. This team is a winning team, and we want to win for our customers, we want to win for our employees, and we want to be winners for every shareholder. So, thank you for letting me share a few prepared remarks, and now I'll turn it back to you, Piyush. All right. Perfect. A lot here. Let's take a step back to start off. Like, as you said, Ralliant has been operating as a public company for not too long. You have been with the brand for a significant amount of time, but relatively, the CEO seat and Neill, you are relatively new to the company. We are obviously coming off a tough quarter with a significant stock price reaction. In hindsight, could you have done anything different? Like, any lessons learned, if you want to share that. Yes, I think about, I think it goes back to sitting here a year ago, and I, I know I talked to a number of my peers who kept saying spins, spins are hard, spins are complicated. There's a lot of moving parts in a spin and, you know, boy, were they right. It's, it's a lot to land. So we stood up an entire team. We built our culture. When we say, when we say about standing up a, a public spin, like literally standing up Oracle, for finances, for HR, standing up every single IT system, they, they are complicated. And, you know, I, I think we, we landed in a good place two quarters sooner. If I reflect back to a week and a half ago, I think the clarity that we're providing now is the clarity that was needed in some incremental changes that we made, and we needed to put it all together. Hopefully, the slides today, I guess, we'll learn more as we exit today. But I think that clarity to bring everybody along is really important. Helpful. And as we sit here today, you know, you kind of talked about this bridge, but would you say that you fully understand and are on top of the cost structure, and that investors should not be concerned with any more cost surprises? Yeah, the benefit we have is we have now had two full quarters to operate the business, and actually to close the books here on 2025. With minimal, almost no TSAs in the business, which is extremely helpful. The team, you know, the team that I was bringing together in hiring, if you go back to Q1, Q2, I think Neill started about three weeks before our Investor Day. You know, they've now got two quarters under their belt. The other part is just building the funnel of countermeasures. And as we came through Q3 and into Q4, and could really start to see what we needed to get after and got that visibility, we now have the levers underneath to go execute on what we have to do. This team is built to go execute and operate these businesses. So I have high confidence that what we have called out and talked about from a adjusted EBITDA, from a top line, from our incrementals, that we've got multiple paths to achieving those results. Helpful. We'll stay with margins. You did mention this bridge. Do you have a timeframe in mind in terms of, like, how fast can you get from that 18%-20% EBITDA guidance to your longer term targets? Is it like a step away, or is it like it will be more gradual? I think. So I think there's a couple of components here as you start to look at the margin transition, both into 2026 and beyond. And if you look at the range, it was 18%-20%. So I think at the high end of the range, it's up to 200 basis points. So I think we're touching on that. There's a few things that are built in here, and I think Tami talked about it a bit in her remarks. You know, one is we got to go execute our playbook. And I think if you took and extrapolated what we look at in 2026, you know, I think as you get out in time, we're probably trending to the lower end of that range in the low- to mid-20s. But that doesn't include the opportunity to go execute on some of also what we talked about. I think we have a longer runway here to go execute cost programs. We have a longer runway here to look at some of the growth opportunities we have, particularly in defense and utilities, where we could, you know, outperform there. So I think there's lots of opportunity to get into the mid and high end of that range, but now we just have to get after it. So I think, with the guidance that we have, I feel like we've got nice control over the narrative, a nice control over the business in terms of how we want to communicate going forward, and I think we have a nice runway in front of us. I think one thing you have to remember is that the starting point might be a bit lower than we anticipated, and we own that, and we understand that, but the playbook going forward is basically the same. It's what we've talked about previously, you know, growing our profitability faster than our revenue, and we think we've got good line of sight to that, you know, in 2026 and beyond. Got it. Let's shift to growth. There has been a bit of macro volatility, and some of your end markets are in a cyclical recovery. You have 3% organic growth, as you mentioned, as a long-term target, and your guidance range for 2026 is 2%-6%, suggesting that, you know, a slightly higher growth rate. How much of this growth would you attribute to stabilization or improvement in your end markets versus your own initiatives to outgrow? You know, there are recovering cyclical end markets, competitive dynamics, and then Ralliant's own self-help. Like, can you walk us through the puts and takes of your top-line guidance framework? Yeah, I think to start with, just how we thought about the 3% was historically what these set of businesses had done. And we thought prudent to say, we land as a public company, we had better be able to do that. So that was kind of the flag in the ground that we need to be able to drive 3% growth. As we look at the opportunity out there and the two quarters that we've been running this business, we see even more opportunity in the defense and utility space, where we are extremely well positioned. Embedded supplier with our end customers and markets that are growing. I think in both those spaces, we can make our own luck, and we can outperform the market in both of those spaces. I think in industrials, we play in a lot of niche markets. In those niche markets, I think we get our fair share of opportunities, but they're slower growth opportunities. Not as big of a SAM there. And I think making our own luck there is gonna look a little bit different. I think it's gonna look like: How do we help our customers go faster? I talked about the AI application to get a replacement part in two days, really simple and really easy. I think we're thinking about how do we transform that business in a different way if we're gonna grow outside, you know, and above the market. And then in T&M, it's all about innovation. We got to put more innovation in the hands of our electrical engineers, and that's what drives outperformance in that space. Gotcha. And we know, like, new product introduction has been a key focus, and I think you have highlighted expectations that NPI this year could be 2x historical average. First, are you on track with that goal? And second, help us understand how you balance investments in R&D and innovation versus driving margins. I think on the earnings call, you mentioned, like, you know, 50-100 basis points impact from the investments. If you could dig a bit deeper into these investments and how they better position Ralliant in the market. Yeah, I'll start a little bit there, and then we'll get to the investment part. New product innovation in our Test and Measurement business was 2x last year of what we've seen historically. So that was a milestone, and with that, to have two platforms. And when I talk about a platform, our MP5000 platform is modular. So what they'll be working on and announcing this year are more modules that go into that platform. So you can see how velocity can accelerate there. What's very exciting and something we don't talk about a lot in our defense business, but Neill and I were just at PacSci EMC, and they had a record year last year in new product innovation with over 24 new products, customer-funded products in that business. But those are programs that'll start rolling into production. It'll take 2-3 years for those to ramp, but that's also exciting. So your question was a little bit more, how do you make the trade-offs? How do you decide what you're going to do here? And we don't think about it as just a percentage of, of sales. We think about it as, what are the best ideas? And we have a process, a dream process that we go through, that really takes the ideas in and then does business cases on how, how big are these going to be? How valuable will they be? What are the margins going to be on those? And that's how we really decide what programs get funded. And then maybe you talk a little bit about how we make the trade-offs with investing for some accelerated growth. Yeah. So I think when we said it earlier, I think if you look back at this business over the last number of years, even pre-spin, I think one of the hallmarks of execution is around growing the profitability faster than revenue. We're absolutely committed to that. And clearly, we've included that in the guide, you know, for next year. And so how do we do that? And I think the key here is, as we reinvest into the business, we've got to drive some offsets and some savings. We've got to earn it in terms of how we think about investing into these businesses. Tami talked about. You know, in one business, we looked at taking G&A costs down, invest in more R&D, and that's embedded in there. You know, in other places, we've looked and seen where we'd have higher growth and much higher margins, where you can go back and reinvest in the business and still get great incremental. So, that's all embedded, I think, into the incremental margins that we talk about going into 2026 and beyond. So, as you look at the investment levels, there's a trade-off that we have to make within the business. But I would say we're absolutely committed to having discipline around that and including that in the margin expansion opportunity and driving that as we go forward. So the words that Neill used, or something we use internally, is we have to earn that. You know, we've made commitments on what our profitability would be. We want to make investments. We have to earn those. I'll pause for a second if there are any audience questions. Go on. [audio distortion] Yeah, so what's in the middle of that is this tariff piece that we had in 2025, and we had been able to cover our tariff costs, price being one of the actions. There are multiple actions, but be able to cover that. And gotten pretty regular 1%-2% price realization across the business. So I don't think there's a big fluctuation that you're going to see. I think you'll see more of the, you know, the margins are higher on the places where we add the most value, and that's at the high end of the portfolio, and that was some of the announcements that we made late last year. Oh, they're getting you a mic. Hello? When you think about PacSci, and new product innovation, what are, what are the specific submarkets that those are really tied to? I mean, is it, is it space launch? We see a lot of talk about missile interceptors, munitions. Like, what are the applications driving that? Well, you know the space pretty well because I think you covered a couple of them. We think from the business, 80% of the business or so today is missiles and munitions. And when you see the new product innovation, it's everything from deep sea to deep space, with a higher mix of space programs today. Thanks. Hey, just a high-level question on Test and Measurement. Could you describe the cycle there and the drivers of the cycle? It seems to differ from what I call a general industrial cycle. Is it more tied to R&D of your customers, to CapEx? Just anything can help me there to understand the cycle in T&M versus general industrial. Thanks. Yeah. T&M has traditionally followed technology cycles. So right now we're in an upcycle around anything around the data center, whether it's communications or cooling systems or upgraded power racks in the data center. So tends to be technology inflection points. It was, at one point, a mobile phone. It was a computer. We can go through time, and we can talk about those large technology inflection points. And somewhere between 4-5 years from a peak to peak, those tend to be, I don't know if one exactly matches another, but if you talked in general sense, that's what we've seen. We also see that the semiconductor business, when semiconductors are doing well, Test and Measurement is typically doing well. That's because all those components coming out of semiconductor companies find their way into electronics everywhere. Electronics that go in your robots, that go in your glucose monitoring machines, that go into agriculture. So those electronics are, t here's some engineer there that's taking and designing some electronics for that new product. So usually, a new wave of semiconductor technologies will also drive our diversified electronics business. I'll ask the same question in a slightly different way. Like, diversified electronics had a challenging year, but it seems you are seeing some stabilization there. Communications seems strong. And then semis is lumpy, but you sounded positive in the long term. You ended 2025 down mid-teens, and it seems most of your end markets are bottoming or at least, like, improving sequentially. But you kept the Test and Measurement 2026 guidance below the enterprise outflow. Yes. I know there is key demand drag, but it is a relatively small part of the portfolio. So what do you think is holding back the growth at Ralliant in the segment? Yeah, I think that's a question on many people's minds. So, I'll tell you how we guided and how we thought about Test and Measurement. We've seen three sequential quarters of improvement. As we come into Q1, we talked about the 5%-8% growth. Test and Measurement's right in there, with that growth rate. Test and Measurement, for us, about 70% of the business is short cycle business, book-and-turn business in a 30-60-day window, definitely within the quarter. So we've got good line of sight to Q1 and Q2, and we look at, you know, our direct sales funnels, we look at the sell-through at our partners, our distributors. We look at quote activity. We've got probably a dozen metrics that we look at, that we feel confident in the first half, which is nice to have a business that's front-end loaded. We also said we need to be prudent. It's our first year out as a public company, and we need to be really prudent that the guide that we put out, it's a pretty wide range, 2%-6%. We want to make sure that we land in that range. So, we'll provide more information as we go, but that's the guide that we have for the year and how we thought about Test and Measurement. Helpful. We think investors understand that Ralliant is more aligned with R&D workflow, but it seems that you have been trying to also focus on validation. You had a few new products announcements in 4Q, and I understand that it's still early, but would you say that validation could be a more meaningful contributor to earnings growth? Yes. We do believe that that is an opportunity. It's an adjacency to the R&D workflow, a place where people have used our bench instruments in validation, but we've never had a purpose-built platform for test automation. The ramp will be a little bit slower. We don't have the large install base that we have in high-end oscilloscopes, and much of the work gets done through system integrators, which is a new ecosystem for us. But the potential, you know, down the road here is, yes, that we have opened up a new serviceable market that presents a new opportunity in the Test and Measurement space. Helpful. And one on Test and Measurement margin. I think you expect T&M margin in 2026 to be at the low end of your mid-teens to low- 20s, longer-term EBITDA guidance range. Maybe talk about the confidence level here, how much of this is dependent on growth and end market recovery versus your own self-help actions. I know this business can have strong incremental margin, but you also have your pricing and cost actions. So help us understand the visibility to what seems to be a sizable margin expansion this year. Yeah. So if you look at the outlook for Test and Measurement for the year, and Tami hit on this a little bit already, you know, I'd say the growth rate we have in Q1 is higher than a year, and the reason for that is exactly what we talked about. I think you know the timing of the book and ship order is a short cycle nature of the business is something that, you know, you want to get better visibility to earlier. And we have I think lower growth rates in the back half of the year. Now, underlying that are positive signals around the funnels and, you know, the 60-90, 120-day funnels that we have in terms of the activity that's going on in the business. That's heading in the right direction. As we said, we're returning to growth. So as I think of it, as we look at 2026, I think we've got some nice momentum coming off the bottom of the cycle. We see better growth here earlier in the year, and as we get better visibility into the mid and later parts of the year, we'll give an update on that. So I think all the signals are positive at this point, but we want to see some proof points around how that plays out for the year. And as we see those things, we'll update our outlook. Helpful. Moving to Sensors and Safety margin, I think your long-term EBITDA margin guidance is high 20s. The last two quarters you reported, that you reported, you were averaging high 20s, but for 2026, you're pulling it back a little to mid-20s to high- 20s. If you could comment on that, like, I think you, you—there are some mixed headwinds you mentioned on the call, and then you are reinvesting in the portfolio. How soon can you go back to that long-term guidance range? And more importantly, would you say that these reinvestments, with these reinvestments, Ralliant is being more aggressive to go to the market? Yeah. So I'd say on the margins for Sensors and Safety Systems, so first of all, it's got a very strong margin, you know, mid- to high 20s. We saw growth last year in 2025. We're forecasting pretty nice growth, you know, mid-single digits here in 2026. So I think from a growth rate perspective and a margin perspective, we're really solid shape. So I guess the question then is like, you know, why are we at the kind of mid- to high- 20s in margins versus the high- 20s in margins? As we look to the year, I think some of the corporate costs or some of the allocated costs that go to the segments, as Tami talked about earlier, is affecting that a little bit. I also think the higher growth in defense, where we have margins that are lower than the total in Sensors and Safety, drive a little bit of a mixed headwind in that. But as you look out to the year, I think the key here is driving the initiatives we talked about earlier. I don't, I don't think that this is so much as, you know, more growth investment is causing us to, is holding us back. I think about driving more growth to drive more margin enhancement. We talked about it earlier, you know, the playbook we have is to drive our profitability faster, you know, than our, than our revenue. And we think in Sensors and Safety, we can do that as well, and get back up to those, get back up to those margins over time. But right now, that's what we've guided to, given the visibility, given how we look at the cost structure of the business coming out of the call. As we go execute for the remainder of the year, we'll continue to look for ways to continue to drive that profitability faster than revenue. All right. Neil, on capital deployment, you guys, like Tami, touched on it a little. You highlighted the $200 million in share buyback. Seems like the stock has pulled back, so could you be a little bit more aggressive there? It seems you are, right? It seems like it's already once back, you know, down to $160 million. Then on M&A, I think the focus is tuck-ins, but given the competitive dynamics versus your own offerings and the demand potential that you see across some of your higher growth verticals, could you lean in more on M&A going forward as you are a good generator of cash? Look, I think that the, the profile and the order in which we allocate capital hasn't changed. I think first and foremost, it's around organic reinvestment into the business. We talked about a number of those areas where we continue to look to grow profitability, but also reinvest in the business organically. From a capacity perspective, we've taken up our CapEx from about 2% to 2%-3%, and that's really about funding capacity investment in some of these higher growth areas where we're gonna need capacity out beyond, you know, 2026. The second piece of that is going to be returning cash to shareholders, one, in the form of dividend, but also in the buyback, that we talked about today. And we'll, you know, continue to look to be, you know, to execute on that. And then the last piece is then the tuck-in M&A. And I think we're gonna start out with looking to augment these areas where we've got great organic, growth opportunity, and start out there and start to build, you know, our case and our credibility around executing on M&A. And as Tami mentioned, toggling between, I think, the, the share buyback or the return to shareholders and with, and with M&A. But, look, I think the business has terrific cash flow capability moving forward, from a free cash flow perspective. And I think as we think about being disciplined within our turns rate from a debt perspective, that'll unleash some potential for us as we start to, you know, continue to generate cash flow and allocate capital, you know, within that framework. Got it. This is a question we ask every company, and you can tag team on this. Like, what are the top two or three innovations and structural changes affecting your company over the next five years? And are there any emerging industry trends that are perhaps being overlooked in the current discourse? Yeah, I know we're coming up on time, so I'll just take one. AI. You know, we're taking advantage of it across the company internally for efficiencies and externally to create more value for our customers. All right. Perfect. We appreciate you guys joining us. Thank you. Thank you so much.