All right, we're going to start now and first off, good morning. I'm Dean Pohl, Rimini Street's Vice President, Treasurer, Investor Relations. It's my pleasure to welcome all of you to our Investor Day 2025. I know I worked the phones pretty hard with some of you, and I'm just pleased that you actually followed through and showed up. We have a really great event today, and the speakers and the clients, you know, thank you for being here. The team's thrilled that all of you joined us here and on the webcast. Just moving on. Forward-looking statements. You're going to be thrilled that I don't have to read all of these. Instead, I'll refer to the Investor Relations section of our website or most any of our press releases, and this is also on the actual presentation itself that you can find on our website. The main goal of today's event is to introduce the broader executive leadership team, provide a deeper understanding of the company's vision, strategy, sales, and execution model, including details about new growth drivers such as Agentic AI ERP powered by ServiceNow. Thereafter, there will be a 10-minute break around 10:30 A.M. After the break, clients from around the world will participate in a panel discussion to share their experiences working with Rimini Street. The agenda. This is picking up from the senior management team, where strategy, vision, our secret sauce on service delivery, the Agentic AI, and the direct and indirect partner channel initiatives are getting us to where we quantify it into our financial model, outlook, guidance, and our capital return parameters or decisions that are going to drive actions we take to increase shareholder value. We will close with a Q&A session. All questions will be answered either during the event, as time allows, or as a follow-up. For in-person guests following the presentation, lunch will be provided. Please take that time to meet management and clients. I'll introduce you one-on-one, just find me. The agenda, biographies of the speakers and clients, the slide deck, and after today's event will be available on Rimini's website. It is now my pleasure to introduce Seth Ravin, Rimini Street's founder, Chief Executive Officer, and Chairman of the Board. Welcome, Seth. Thank you. Thank you, Dean. Okay, everybody. A lot of good faces I'm used to seeing around here. 20 years since we launched this business. I came to New York to try and raise capital, was thrown out of probably most of your offices and 100 others, told that the business could never be something that would be viable. Nobody at Gartner thought we could ever do it. Dean actually was one of the first investors we ever had. When I came to New York, I said, "I just need a few hundred thousand dollars to get the business started," and he said, "Okay." He was working at Kellogg Capital at the time. He said, "All right, you got a few hundred thousand to get seed started here," and has been along for the ride ever since. So thank you, Dean, for making that early commitment. You know, we only have about $30 million we've ever put in this business, and we've generated billions of dollars of sales. We went through 19 years of war with our friends at Oracle, and we settled out back in July. So we have cleared the decks of litigation. We are very closely held. For those of you who understand the cap table, there's Adams Street Partners who owns this 26%. They're the largest single provider in terms of investor. I'm number two still in terms of holders. And then we have a bunch of folks even in this room who are 5%-7% holders. So we're pretty closely held. And the reason we're holding this event is we want to start broadening out our shareholder base. It's time. So it's time to start getting a higher velocity of sales transactions. It's time to get a broader base of investors into the company now that we're past litigation and we're beginning to move forward in the next chapter. So let's take a look here. I'm just going to send a couple of slides here talking about what we're calling Act One, the first 20 years. We've managed to get to a recurring revenue business over $400 million and generating over 60% gross margins. We're attempting to now focus on driving profitability, which Michael will talk about in the financial component going up at the end of the presentations. But we've built a business that's very broad. We cover across all the world. We're in many different countries with operations. We've built unique structures that serve clients with two-minute response times or less anywhere in the world, 24 by 7, for very serious mission-critical work, including some of the military work that we do around the world where people's lives depend on the fact that we are able to respond reliably in those kinds of time frames and can be relied upon for mission-critical work. We also have a very diverse customer group, manufacturing being our largest, but we're in just about any industry you can imagine. So we're broad-based in that regard as well. So we're very diversified geographically. Over 50% of our revenue comes from outside the U.S. So we've built a truly global company in the first 20 years. We went public in 2017. At the time, we were, of course, very heavy into our war with our friends at Oracle. It was almost impossible to get anyone who was willing to take us public. We did something unnatural. We did a SPAC transaction and a double reverse merger and domestication from a Cayman Islands company to surprise everyone of becoming public the next day. It took us years to get through that transaction. The de-SPACing was a mess. All of that because of litigation and other challenges that we weren't able to go out in the normal course. We never got a chance to have a real IPO with real roadshows and real marketing. We never got a chance to get out there. So you're going to watch Rimini Street now moving past those 20 years into a new chapter where we're going to be out there and doing the things that companies are able to do as public companies that we were not able to do because we had so many challenges and restrictions of being involved in litigation for such a long period of time, but still managed to build hundreds of millions of dollars in sales every year and thousands of customers. So now we talk about the second act. And I want to bring together sort of eight points that have converged in the world today that we believe form the basis of Rimini's second act as we come into 2026 and these next five years. Many of you, of course, I mean, if I hear the word NVIDIA one more time, I'm going to be nauseous, okay? But the reality is we're in another time. Those of us who are old enough to remember dot com and we remember the cloud, cloud, cloud, and everyone put cloud on their name and thought that would increase their valuation tenfold with the same product they were selling the day before. And now we've got everyone adding dot AI to their name. And everyone's trying to sort out what's real and what's fiction. And we are in an interesting place. We are the people who are making AI actually work in companies. And you're going to hear that from some of our customers that are here today. And you're going to get to see a glimpse of what it is we're doing for customers. So think of us as AI for the real world. We're the guys who are actually helping to drive down costs. We're helping to automate processes, streamline businesses, and drive number one problem of every single company we work with: profits. Costs are up. Extremely competitive market. Just ask anyone in telco. How do you sell for more when everything is cheaper by the day, but your costs keep going up? And they have on their whiteboard, how do we make money in five years? This is the world that we help customers navigate. Because the truth of the matter is we believe the winner is that person with a good product who can drop their total cost to serve below what everyone else's is and still can add a profit and no one else can match it. That's what success looks like for many different companies in different organizations around the world. So the first thing we're dealing with. I travel the world working with CIOs and CFOs and now COOs on the issues deglobalization. This is not just a Donald Trump thing. This has been going on for the last decade. I actually had the good fortune to be part of helping the Clinton administration when we put the GATT agreement in place, which was supposed to eliminate trade tariffs and boundaries across countries. Now we're taking it apart piece by piece. We're doing this in a way that is changing supply chain of the past 50 years going forward. We used to build things in the cheapest place. Capital could go anywhere. We'll build it in the cheapest place. We'll ship it somewhere else. We'll package it, and then we'll bring it into the market. We used labor arbitrage as a key component of how we manufacture in the world. And now you've got protectionism and changes in deglobalization that says, well, if you're in Indonesia, you can't sell an iPhone here unless you build 30% of it here. So all these unnatural barriers now prevent us from running the most efficient supply chain that we built all these past decades and we learned how to do. Now we got to completely redo it. If I have to build 30% in Indonesia, and I need to build 30% in every country, my supply chain is completely different than anything we've ever done before. That is a massive disruption to the world of manufacturing. Labor costs have gone up quite a bit. Labor costs are the number one cost in most companies. And don't forget labor shortage. If you're in Japan, you've got a declining population. It's even worse in Korea. China's got one. The U.S., so you've got declining workforce. You've got a huge aging population that's ready to retire, and you don't have people to replace them. In some of these countries, if they do not automate and reduce the need for labor, they will not have enough workers, or the price of those workers that they're able to get will be sky high because of labor cost and competition. That has huge implications on cost, and what does all of this do? Raises up the cost, and we can't raise the price very high because we have fierce global competition, and AI is changing everything, and we're going to talk about that today, not just in the theoretical way. Now let's talk about boards. We work with a lot of boards. A lot of boards sign off on our deals. Boards run around. They said, "We are doing digital transformation. We've got a $1 billion contract with Accenture." Oh, and we're a cloud-first company. And by the way, we're doing AI. And you ask any one of those board members, "Can you explain what you mean by that? What it means to the business?" Like, "No, I don't know what it means." We just throw around the words, right? But they throw around the words. And then you know the next thing that comes out of their mouth to the CIO is, "And by the way, we got to drop your budget. Profits are tight. Costs are up. Got to cut you 20%, 30%." And the CIOs wander out punch-drunk from this meeting, go, "Wait a minute. They just told me they want me to do all these things in innovation, and they just cut my budget. How do I do that? How do I make those ends meet?" So that is the reality that we see. And that's global. That's not just in the U.S. That is a global phenomenon going on. And if you're in government, it's equally bad. Now we got this other thing going on, which is we got all these great systems now. The problem is they really don't work together. And I know you've probably heard, "Oh, they're all integrated, and there's all these integration tools." It's just not the case. In most organizations, these systems are still very separate. Which means if you wanted to do a task, let's say you were doing inventory management, you're ordering for three factories, you may have to go into three or four different systems to do specific tasks in order to do your job. This is very real today. And this is very sobering for most. When we look at the way that IT budgets are spent, the majority of the budget is still spent just keeping the lights on in day-to-day operations, and you know what's included in that? Upgrades, migrations. Lord knows. I just got Windows 11 on my laptop. With all the Copilot stuff, there's so much stuff going on. It's hard to even figure out what the hell's going on on the screen, but all these upgrades, migrations, do you realize that every single company you're talking about has a new specific release they want that customer to upgrade to? Mark Benioff wants you to get on the latest version of Salesforce. Our friends at ServiceNow want you to be on their latest version. Oracle wants you to upgrade theirs. SAP is demanding you upgrade to theirs, and by the way, you need to roll out Windows 11 to 27,000 workstations. So you got all this going on. For the first time, CIOs literally cannot do it all. Even if they wanted to follow the roadmap of every one of their software vendors, there's literally not enough people, time, or money to do it all. And so the CIO, along with the CFO and the company, are going to have to figure out which items do I do and which ones do I don't do. It's not an easy question because a lot of times it's like a puzzle. If you don't do some pieces and you do others, how does that all come to work? You got to figure that out. It's complicated. It's complicated just making them work together even when you follow everybody's roadmap because they're all going their own direction. But this leaves us 9% of the average budget for innovation. And the truth is 9% is not enough to do what needs to be done to stay competitive, let alone leapfrog over your competition. This is a formula for disaster in the long term. Now this one, you may have seen some articles where I declared publicly that ERP software is dead. Customers fall out of their chair. What do you mean dead? I just spent $1 billion on this thing. What do you mean it's dead? It's dead. AI technology is the next paradigm. Now remember, in the world of ERP processes, we've been doing these things since the beginning of commerce. When we had stones, we would trade. Okay? We pay people in stones. We pay them in bushels of hay, whatever. You had to pay people who did things for you. You had to build things. You had to ship things. You had to move things. The world of ERP, enterprise processes, things that run a business, those processes have been around forever. But we moved it. We went from stones to paper and writing everything down to spreadsheets. And then we went from spreadsheets to this amazing thing called computers. And we use this new thing called ERP software as the latest tool to run those processes. What you need to understand is AI is like an industrial revolution. And I know it's hard with all the AI running around everywhere and everybody bullshitting about it. It's hard to understand what's going on out there. But the reality is it truly is a new paradigm. We are going to take those processes and we can move them into AI. It is different than the ERP software they're running today. And I'm going to show you that in a minute. But recognize, we believe that ERP software, for a number of reasons, we'll say, has reached its technical limitation. Now we'll be able to use it for years and decades longer, and we'll support that. The transition to a new paradigm is coming, and we're already doing it. So we believe agentic AI is going to be the downfall of what software we see in the world today. And it's happening, and it's happening fast. Now a lot of customers don't understand this yet because this is complicated stuff. They're running their businesses on this. They're running government agencies around the world. So help us understand how this thing's going to translate. But we got a problem. You guys saw this with cloud. Jeez, we saw this in the dot-com era, right, when the froth started to come down. You know what? Most AI projects are failing. This is a fact, and you'll find more and more articles coming. Some of these guys who said, "Oh, we're going to lay off 10,000 workers because AI is going to do their jobs." You know what? Articles in the last few days talking about how those companies are quietly hiring back half the people they cut because the promise was well ahead of the reality of what they could achieve, so we got problems out there. This stuff does not just happen. We don't just wake up one morning and say, "Hey, we're doing AI, and the world is good, and we cut half our workforce, and it just happens." It doesn't work that way. This process is going to take time. There's a lot of things that have to be done in an orderly way, and you will have all sorts of challenges too. By the way, most of us who are here in the U.S., we know we have the ability, for example, to cut workforces. We can do it. You can wake up one day and you can announce you're laying off 17,000 people at a company like Amazon. But that's not true in most of the world. Most of the world doesn't have the ability to adjust labor. So they have to look at it differently. They have to look at it as labor productivity. I can take people that are doing certain jobs today. I can automate those jobs, but I am then going to have to find something else for them to do in the company. So I don't get to just slash it off my labor cost the way the U.S. has flexibility of doing. They have to find productivity. They have to find other uses for that labor, whether it's retraining them or finding ways to grow their businesses without hiring additional people, so you have to remember those different paradigms on a global basis. Now this one, I'm extremely proud of. We truly believe that we are the best ERP and enterprise software support provider in the world. We've been doing this for 20 years. Our level of achievement and the work that we do for clients, and thank you for many of the ones that are here today that you'll hear from, this doesn't just happen. This is not just one item, and you're going to hear a little bit about all the pieces that come together to make this from our presentations after me, but all this comes together to create what I'm calling the second act and the market opportunity. I talked about ERP processes earlier. Rimini Street can help enterprises run their ERP processes, not the ERP software, ERP processes faster, better, cheaper, with more reliability, agility, and speed. We believe we could take 40% of the labor cost out of running the processes that run a business or government agency. That is monumental in terms of driving bottom-line profits, streamlining operations, and leapfrogging over the competitors with technology. This is what AI can do in the real world in ERP and transactions. So lots to unpack, and I know, but this is an amazing set of points that comes along, and again, we go down to the museum. I could probably go down there with all of you guys. We'll see all the computers we used over the years. We're probably in the museum somewhere as antiques. But this truly is, if you have not seen this yet as an industrial revolution, that's the way you should be thinking about the impact of the technology. Even though it's very early days, there will be lots of failures. There will be lots of starts. There will be lots of people trying to do things easily that will not work. We learned in the cloud world. People said, "Oh, you can't go into the cloud. We'll never be able to secure it. The security risk is too high." Today, we've come up with security that's better than if it was sitting in your basement. There are still a lot of things unanswered around AI. We're working on protocols for agents to talk to each other. We're still trying to figure out how to make sure an agent doesn't go off and do something. Well, hey, we have employees that go off and do things. Now we're going to have electronic agents that may go off the reservation a little bit. So we have to figure out how we are going to manage all that. ServiceNow has products like Control Tower. So you can watch over 7,000 agents at once. That's like watching over 7,000 employees. How do we know that everyone there is doing what they're supposed to do? There's a lot of questions. We still have a lot of things to do. This is not all baked yet, guys. So you have to recognize we're in the middle part of this inning, as we'd say, in getting this technology figured out and then deployed in the real world. So think about 10 primary processes that run an enterprise. That's why we keep focusing on process, not the software, because we are going to change the paradigm under which these processes are done. But why would we want to do that? How does this thing really change the game? What's changing the game is, remember I talked to you about all those tariffs and changing supply chain? Any of you who have ever been in the tech side and worked on an SAP system and said, "Oh, let's change the way we're doing supplying from 100 different countries and building product"? The systems are so complicated. They're so big, so heavy. It would take years to change that all around. We don't have years to change. The necessity here is speed and agility. So what we do is we get to put AI over the top of these existing systems. We're going to do all those changes that are needed for supply chain and all the things that are happening in deglobalization. We're going to do it all in this new layer right over the top of your existing system. You don't have to rip and replace it. We're going to go right over the top of it. Icing on the cake. But you have to recognize these 10 processes are going to move forward in a new way. So this is an ERP software. These are the types of processes we're talking about, right? Paying people, inventory management, moving things around inside your operation. And of course, retailers, we have all of the special things. Every different industry has certain components. But this is all going to change in the paradigm. This is what it looks like in the world of agentic AI. More flexible, more intelligent, more automated. We require less labor to do the same tasks, but this is process reengineering. This isn't just change of software. We're changing to a new technology, and the way I like to explain it is, if you think about ServiceNow, for example, they have an AI platform, Palantir, which you hear a lot about because of their government connections, and obviously, they've got a multiple we should all strive to achieve one day in our history, doing very well, and then you have Microsoft coming in. They are all what we'd call AI platforms. Now, those AI platforms could be interchangeable. The way I like to explain it is, if you walked into an operating room, they lay out all the tools they're going to use to do the surgery, well, Microsoft's got their tools. Everyone's got their toolset. Palantir, right? Our friends at ServiceNow all have the same. They've got tools. But you know what? The tools are worthless if you don't know how to use them. And we're living in the real world where we take those tools. We're going to go back to where I showed you those processes. We are going to extract, like a surgery, these processes out of the ERP software and move them up into the Agentic AI ERP. And eventually, there won't be a need for the underlying software anymore because we will have moved piece by piece over time from one paradigm of technology to another. But this is what Rimini Street specializes in. We're the surgeons. We know the ERP software. We understand the complexity of how to go in there. Remember that game Operation we used to play? Go in and take a bone here and a bone here and hope not to hit the side. We're the guys who know how the bones work. So we're the people who can go in and extract this process and move it to this new paradigm called agentic AI ERP. And this is why when Bill McDermott and I first talked about the ServiceNow partnership, he said, "Seth, you were my nightmare when I led SAP for 16 years. Every morning I get up, 'Oh, so-and-so customer's looking to move to Rimini Street.'" But the reason we were on the phone is because he has a great toolset. He has an AI platform, but he's got nobody over there. He doesn't have a big enough team that knows how to apply that toolset to an SAP system or an Oracle system or an Infor system. And that's what we do. So the combination of any one of those toolsets coupled with us allows us to do what we're talking about, move these processes forward. It was pretty exciting a year ago when we announced the partnership with ServiceNow, the 1 plus 1 equals 5 arrangement. Their tools, our know-how, our knowledge, our ability to go to market with credibility because we know these processes. So a lot of good excitement in the analyst community because we changed the game. Everyone else is saying, "You must upgrade and migrate your software." SAP's telling customers, some of them to spend billions. And we're coming and saying, "Not necessary. We'll just put the new technology right over the top. We won't take the risk of ripping and replacing your massive global system. We then will move pieces one at a time." And that is a strategy that we call our Smart Path methodology. I loved it when Bill said this. The guy who was running SAP is telling customers, "You'd be crazy to spend money to upgrade your SAP system." Told him, "I don't think I could take him out to a lot of those clients." He'd probably jump over the table. "You're the guy who told me I had to spend all that money, right? Now you're telling me I shouldn't do it." But this is the reality that the paradigm is changing. We don't need to spend money on the things that they're trying to get people to spend money on. It's quite a change. Look what we can do. We believe we can take customers with a 9% innovation budget. And through automation, the change of technology, this next paradigm shift to Agentic AI ERP, we could drop 40 points into that program, all within the existing budget. No having to hold your head down and go into the board and pray when you go in and ask for that billion-dollar Accenture contract. That's going to take five years to do an upgrade or a migration because our customers actually have real businesses to run. They actually have to deliver a profit. The fact that we have a plan and a strategy to do this through the smart path methodology is what's changing the game. So, guys, we have a lot of speakers up here today. And the reason for that was a lot of you told me, "Hey, Seth, I see you. I see Michael Perica, our CFO. You guys are always out. You're in New York. You're all over the world. We'd love to meet more of the rest of the management team. So we have a parade of our senior executives here today just to give you a little feel for who they are, give you a chance to talk to them a little bit during Q&A. But for those of you who are here in person to meet up with them at lunch, just get a chance to meet them to understand that we have a very strong and deep bench of executives that come out of not only enterprise software, the maintenance world. So we know this business. And we think this agentic AI ERP is so big, we even changed the tagline for the business so that we are the enterprise software support and agentic AI ERP people. We will keep the existing systems running for decades, and we will put the new technology over the top, and we will pay for it all within your existing budget by lowering your cost for not having to do upgrades and migrations that aren't necessary, dropping the annual maintenance cost, and being able to move all of that money to streamline operations and pay for that innovation. So this is not an above-the-budget line item. This is all done within the budget. So with that, let me turn it over. I'm going to turn it over to Craig Mackereth, who is heading up all of our support managed services. So, Craig, come on up. Thanks, guys. Awesome. Thanks, Seth. All right. Great to see everyone out there. Let the parade of leaders begin. I'm honored to be straight after Seth, and I'm here to talk about the first two parts of the Rimini Smart Path. Today, I'm going to be talking about support and optimize. All of our customers come to us for the support. You've seen examples, hopefully, in some of the beautiful quotes that we shared at the beginning of today, where customers are using us for the support of their production enterprise, whether it's telecommunications companies, manufacturing, pharmaceutical, aerospace, and defense. Today, we're providing 24 by 7 support for all of the enterprise production systems that run these clients' organizations. In addition to that, we've also moved on to start to run and optimize the systems end to end. We're providing a one-stop shop with our managed services so that when clients want us to run their ERP systems for them, monitor their ERP systems, secure their ERP systems, we can do those things as well. This provides a very stable platform so that customers can then take that and innovate. And after I'm finished speaking, you'll hear from Vijay, who will talk about the innovate part of this path. So when clients come to us for that first pillar for support, they're looking for a number of things. And I've been with the company now for 13 years. I've had the opportunity to travel far and wide and meet many of our customers, some of whom are here today representing their organizations. They're all looking for a very similar type of service from Rimini Street, one that they can rely upon every single day of the year because issues don't happen at convenient times. They happen in the middle of the night. They happen when something is broken and your CFO wants to get numbers out to the street or you need to ship product. It's never at a convenient time. So what do clients expect from us? So the first thing is experience. When they pick up the phone, they don't want to talk to someone in a call center who've never spoken to them before. They'll never talk to again. They want to talk to someone with experience. And Rimini Street brings that experience. The first and every call to our level four team is to someone with 10 years or more of real-world experience in the ERP so they can talk to someone with that experience to provide personalized, tailored service on the customized system that they're running to run their business. They also expect proper service. They don't want to try and not understand someone that they're talking to. They want someone who is trained on what we call first-class support to lean in, to take control of the situation. Sometimes clients are in tears. Sometimes clients are in a panic. The smartest people in the room are stuck, and they can't manufacture their product. They can't ship their product. Or no one can log in in the company. That's a scary time for clients. And they want someone who'll be on the phone, who will take control, who will steer them through and prove that it was the network guy. Ultimately, it's always the network guy. They also care about location. This is not an outsourced business. We're not taking this and shifting it to the lowest-cost location because when you try and find someone who's got 10 or more years of experience, hands-on, practical work, working in the enterprise, they're not interested in working the night shift in every location. Also, language matters. If you're in that panic situation and things are broken and your CFO is right there on your back saying, "Hey, I've got to get this report out," you don't want to be trying to explain yourself to someone who doesn't understand your language. So we provide our 24 by 7 support in seven languages today. We allow clients to interact with our team in their local language, and that's very important. One of our strongest regions, and we have Japan represented here today, is Japan, and they want to speak in Japanese, and we honor that on a 24 by 7 basis, providing that key language support when the chips are down each and every day. Compliance matters, so we also provide tax and regulatory updates so that clients can continue to leverage their existing enterprise system, whatever version that is, even though tax and regulatory changes are constantly happening. Right at the moment, I've got a team working in Brazil who are providing the net new functionality for the sweeping changes that are happening in that country, not for the first time. We're building out net new functionality that didn't exist when these clients bought that enterprise application. We've also invested in capability centers around the world. Our global capability centers in São Paulo in Brazil, in Hyderabad in India, and soon Kuala Lumpur in Malaysia give us the talent engines that we need to continue building our capability and gives us access to a world-class group of talent in those locations. We run command centers that I'll talk about when we hit manage a little later from there as well. And then finally, connection matters. This is very much a people business, but that connection, I get the opportunity to hear and see the feedback from our clients every day. They love what our engineers are doing. They love that personal connection. They love the fact they've got their cell phone of their primary support engineer if they want to reach out and have a conversation. They love that personal interaction. Process matters. So I mentioned that I joined this business 13 years ago. We've built a lot of processes in that time to provide true global 24 by 7 capability to make sure that we can take the model that we've had and scale that out across industries, across countries, across languages, and across many different products. Today, we are not the SAP support company, the Oracle support company, the Microsoft support company, the IBM support company. We support all of those different software packages, but we provide the service across all of those different software packages to enable this in a scalable way, and that consistent delivery means that many clients of ours can take one service and then come back a year later, two years, three years later, and continue to buy more and more services from us and get that wonderful consistent experience. They expect that we're going to be available 24 by 7. They expect that we've got continuity. We do follow the sun support. We're very good at this. We transition from region to region to region to make sure that we're providing consistent service across a 24-hour basis so that we're not asking questions that we should already know the answer to, and we provide that each and every day across all of those different product lines. We get great feedback from our customers. We have built a continuous feedback loop. On average, about 29% survey responses come back to all the cases that we work level four, which is amazing, fantastic. We get that feedback from our customer, and we're getting 4.9 out of five client satisfaction, and this is not walking through TSA, press the green button. I was happy with my frisk today. This is professionalism, communication, the effectiveness of the solution, and timeliness of the solution, so we are measured very carefully. In fact, I'd say this, we track everything like a baseball game here. We track things very closely. It means that I've got that continuous feedback loop, which keeps the quality extremely high. Speaking of quality, of course, we're ISO 9001 certified. We have very stringent processes which allow us, again, to take that standard and roll it out as we add in new product lines and new services. We're also very focused on security. Today, as you heard already mentioned on stage, we're providing support for a lot of very sensitive industries from the nuclear power sector to defense. Very important that we maintain our security, and so we're ISO 27001 certified from a security perspective, and we've partnered with some of the best in the world. If you get the opportunity, I see Gabe here, who runs our Protect organization. We've been providing security to many of the world's leading companies, and so certainly encouraged to have that conversation with him. On suitability. Custom code is standard for us. Some clients say to us, "You could have just come to us just with a custom code support." That alone was enough of an impact for us. Custom code is not supported by the vendors at all. If you've got custom code and you open up a ticket with Oracle or SAP, they'll say, "We'll back out that code." If the problem's gone away, the case is closed. But that's unacceptable because the reason the custom code is there is to run your business the way you need it to run. It's key to the business. You've got to make sure that you deliver that support, so we've included that as standard. We measure everything that we do, as I mentioned, down to a baseball game. We are held accountable. We get a lot of praise for our SLAs, and I think it was still in the slides. We've won a lot of awards for our approach from industry, leaning in to those SLAs and delivering fast response times, but most importantly, constant updates on the cases and moving things forward. We replay that in a transparent way to our clients. We're very trustworthy. We provide that on a transparent basis so they can see it, so let's talk a little bit more behind the scenes, how we've made some of these work. This is obviously a people business. So I've got engineers now in 18 countries around the world providing that service and an incredible team who are delivering each and every day that frontline service to our customers. We've intentionally distributed the team around the world. Yes, we have our global capability centers, which are fantastic. But again, we've distributed around the world, split the world into different regions so that we're working with autonomous control in each of those different geographies so they don't need to wait to come back to the U.S. for an executive decision maker to make that call. The local regions then run and work in that regional model to allow us to operate on that 24 by 7 basis. We continue to expand our language coverage. So I talked about the seven that we're delivering today. We're adding Arabic into that list as well. We're adding Spanish, and we're adding Indonesian. And when I say that we're adding that in, it means that we're looking for that talent in each of those different five regions so that we can be there as a frontline language exchange with the clients. We focus on reward and recognition for our teams because it's important to have the tenure with our teams. That experience matters. And when you find someone who is a Japanese speaker located in London who's got 10 years of SAP experience, you want to hang on to that talent because that talent is very important, and it's not out there growing on trees. We're going into some markets and hiring a lot of the top talent. We always target the top 5% of talent in every geography. So we've taken this at scale. It's worked very successfully. Behind the scenes, we've got some key systems that help make that happen. So there'll be a lot of talk about Agentic AI ERP up here on stage today. For our backend systems that we're using, I'm proud to say that we've been leveraging AI long before it was a twinkle in the eye of every newsreader talking about the latest ChatGPT versions. We've been using AI since 2019. We hold patents in this space, and the AI that we've been using is to match the right engineer with the right case. If you imagine across all those geographies and languages and skills and backgrounds, to get the right engineer at the right time to connect with the right case makes a huge amount of difference. We've been running this since 2019. It works very well for us. We also monitor the sentiment of every exchange between our engineer and the client's engineer because not everything's perfect, right? Sometimes you'll get a disagreement between engineers. This gives us insight if something's going sideways before we wait for case comments to come back at the end from a survey. It gives us very timely insight. We built out a multilingual, multi-channel portal with interactive bidirectional chat, which is another innovative offering and again allows us to have a chat channel where modern generations are less likely to pick up the phone. They're more likely to want to have a chat. That's been very helpful as well. We've been leveraging the commercial cloud scale. ServiceNow as a partner, Salesforce as a partner, and Workday as a partner. We're using those partnerships where it makes sense to scale for our business for the performance of our services. We took all that we've learned over the years, and in recent times, we've started to apply this to a new service called Rimini Custom. For Rimini Custom, we can take those services that I've described, those same ISO 9001 certified processes, the same focus on quality, on communications, the same level of control and security, and we can apply that to net new products. Some examples here, Blue Yonder, for example, where we're providing support for a globally recognized defense and aerospace organization because they wanted to be able to run that software and take away the burden of trying to work with that vendor. They wanted the long-term support that Rimini Street could provide. In the telecommunications space, Microsoft Nuance product, for example, we're working with a large telecommunications organization and providing support for that product, which was end of life for Microsoft. And then finally, as we are very proud to support the launch to explore our galaxy around us, we're providing support to VMware for many large organizations. And again, this has been we've stepped into the breach where people are trying to flee from raised prices in that product as well. So we can take what we've learned over these many years and deploy this to Rimini Custom. This scales very well, and this now opens up a lot of opportunity in that support space. The final piece that I want to talk to today is coming to the middle of that journey. Our Manage, Rimini Manage product fits well within that optimized section that you saw from the SmartPath. With Manage, clients can come to Rimini Street, and this is really appealing to clients that have used us in that level four support space. They can come to Rimini Street, and we can run and operate their ERP enterprise applications as well. A couple of key differentiators there that you should be aware of. The first one is that we provide that true one-stop shop. If you look at that ITIL model from where they start, they do the help desk level one, but then from level two all the way through, we're providing that end-to-end service to monitor, run, change, enhance, support, and protect. We've integrated ITSM systems so that we can see in a single central place everything that's happening for that customer in partnership with ServiceNow, and the global capability centers certainly encourage you to take a chance to take a look at those because it's been a very important part of that delivery where we can run command centers to monitor those clients' environments as well. So thank you for the opportunity to share, and look forward to catching up with some of those in person here a little later in the day. I'm going to hand over to Vijay now, our Chief Information Officer, to talk to you about the last part of the SmartPath. Thank you. Thank you. Good morning. We have a vision to lead the world in delivering Agentic AI ERP. So when we started thinking about Agentic AI ERP, we wanted to make the solution relevant for the whole world. So we set about three operating principles or three guiding principles on building our Agentic AI ERP. Number one, we wanted to make sure Agentic AI ERP helped customers, helped our clients, helped businesses drive operational performance. So this is not a science project. We're looking at Agentic AI ERP having an impact on revenue, being able to drive cost down, being able to improve profitability. Those were really, really important when we designed the solution. So that was principle number one. Principle number two, when we talk to our clients, most clients that had SAP or Oracle were looking at AI three, four, five years out. It was terrible to hear some of the roadmap on AI. So principle number two was, could we build an Agentic AI solution that we could deploy not in four years, but in four weeks? So we were looking at accelerating our deployment from years and months down to weeks and days. So that was kind of principle number two, was quick time to value, quick time to market. This was absolutely critical for our solution. The third step on building Agentic AI ERP was giving customers a roadmap to deploy. How do you consume AI? How do you consume AI on complex ERP solutions? So essentially, what we were doing was building a path, a smart path, if you will. So that was a foundation piece for Agentic AI ERP. So we were very thoughtful about the process. We moved fast, but these were the three guiding principles. So with that, let me dive into the Rimini SmartPath. You just heard Craig talk about the first two pillars, support and optimize. We looked at the Innovate pillar, and we said, "We're in a perfect opportunity. Let's leverage AI for the Innovate pillar." So in our mind, SmartPath Innovate is probably the fastest, safest, most cost-effective way to leverage AI and AI automation into complex ERP environments. It is not easy to hook up Agentic AI into ERP. We've learned this, and I'll share some of our examples here. It's absolutely critical that customers have a good roadmap, and we're using SmartPath for that. What does Agentic AI ERP look like? Now, this is a little complicated, but I'll simplify it. Take any of your existing ERP systems. Whether you're on an on-premise SAP ECC system or a cloud-based SAP S/4HANA system, you could be on EBS, you could be on Infor, you could be on more modern SaaS products like Workday or SuccessFactors. It's really the same concept. Treat these systems as systems of records. What are they good at? They're good at data. Then layer in a framework on top of it, which is Agentic UX. By the way, late-breaking news, we just launched a press release about 15 minutes ago announcing the Agentic UX platform that we just launched. Stay tuned. When you check your phones, you should be able to see the press release out there. Back to the Agentic UX. This is what we call a headless architecture. We're going to keep SAP systems the way they are. We're going to preserve the data. We're going to preserve the customizations. We're going to preserve a lot of the work that customers have done. What we're doing is really modernizing the front end of it, adding AI agents, which is absolutely critical, improving the UX, and finally being able to automate. We're looking at complex workflow. We're looking at customers that have complex workflows, manual workflows, things that are absolutely hard to automate, and bringing that into AI. So we can get into a much deeper dive into this architecture, but this picture can be delivered in 30 days for a customer in a pilot. And that's what's amazing about this. And it's a very flexible architecture as well. We can meet customers where they want to be met. So if a customer has a point of view on this architecture, if there are different components that they want to swap out, we can absolutely work with customers as well. We're very proud about what we've built, but we know it's early days in the AI game. We expect this architecture to evolve. We expect it to get simplified as well. And we expect to listen to our clients. They're really our guiding lamp when we started this journey. Our clients taught us a lot about the kind of problems that they had and the kind of solutions they wanted. So thank you for being a good sounding board for us, and we've continued to improve the Agentic AI experience here. So we're in an interesting market, and we want to compete in all the markets, but I'll simplify the slide. When you look at Agentic AI today, you can see vendors building Agentic AI solutions on SaaS systems, on more modern applications. We want to be there. We think we have the technology to compete in these markets. We also see a lot of Agentic AI vendors in the out-of-the-box market selling agents. You see ServiceNow there. You see Salesforce there. Microsoft has several agents. Oracle and SAP are doing the same thing. But we believe that the sweetest spot for us is in the market of on-premise software. There are thousands, hundreds of thousands of customers that we expect will be on ERP solutions for decades to come. That is a market that we believe will be transformed with AI, and that's the market that we think we can be a leader. It is a fast-growing market. It is an uncontested sector. No one's building AI solutions for this market. We're the number one here, and it's a significantly underserved market as well. So we're trying to get first-mover advantage and growing this. So the upper right quadrant is where we're going to be spending a lot of energy and growing the business, but we're also going to be focusing on all the other four quadrants. We've got a number of differentiators on why we think we are going to be extremely relevant for the Agentic AI business. And there's about eight differentiators here, but let me focus on four that I think are absolutely relevant. And Seth covered this at the start of the introduction. We know ERP processes better than anyone else on the planet. We've been doing this for 20 years. We understand these 10 critical processes. We understand the sub-processes. We understand the types of customizations that customers have been dealing with. We understand the friction that they've been going through. So we understand ERP processes really well, and that is absolutely critical to train AI agents. The agents that we're going to be building have to be trained on customers' processes, have to be trained on customers' customizations. That's absolutely critical. That's really one of the biggest differentiators we have. The second is, you just heard from Craig, we have an incredibly strong support experience. We cover L4 support for so many different platforms, and when you bring that experience into the domain experience of ERP, it's just a wonderful combination. The third is, we're still early days in the Agentic AI ERP journey, but our real-life experience with pilots, and I'll share a little bit about what we're doing there, has given us tremendous real-world experience on what Agentic AI ERP looks like. It is not easy to connect to these systems. We're finding it out every day. Some of these systems are really old. Some of these systems have never connected to the outside world. It is an amazing opportunity to go in and unlock these customers. One of the customers said, "Look, it feels like we've been in a dark room for the last 20 years, and you've just turned on the light, and you've opened the doors, and you've opened the windows, and we're now beginning to see our data being consumed by AI applications." So it is an incredibly exciting time for some of our customers. And then the last one that I would consider as a huge differentiator is really the size of the market. Again, so many customers, so many businesses still running ERP, supply chain, CRMs, MRPs. These systems are still around. They need to be modernized. This is a market that no vendor's really focused on because they are hard problems to solve. It is hard to get AI to connect to old systems, and we do that really, really well. So it's an amazing opportunity right now, and we believe that with these real-world results and with such a large addressable market, we're going to dominate the space. So when we started the journey, and this is really the power of SmartPath, and it's maybe a little complicated chart to look at, but when we started talking to customers about their journey to AI, you can look at the line on the red here. It's about two to four years for an average SAP customer to get AI. I mean, that is baffling. Can you think two to four years? Four years, three years back was when ChatGPT unlocked their vision. So can you imagine for a customer waiting another three to four years before they can get AI running on their ERP system? So this was the problem that we wanted to solve. You can imagine the amount of lost innovation. So we looked at the script and said, "Look, how do we change it? How do we take two to four years, make it two to four weeks?" And we started off with three basic steps. Step one, which is part of Rimini SmartPath, is start with support savings. That's how the whole thing starts. Start with the savings from support. Use that investment to start with an Agentic AI ERP pilot. And we've launched 26 pilots across the globe working on really high friction areas. We're looking at critical business problems to go solve that. Once you get that savings, you go into the enterprise rollout. And in three months to six months to a year, you've got AI running on a substantial piece of your enterprise architecture. Don't wait for two to four years. Get it done in two to four weeks. So this is really, really compelling. We've been talking to a lot of customers looking at how do we accelerate their roadmaps, how do we get time to value. I'll get into this in a bit, but when we looked at starting with AI, there's a tendency to boil the ocean. There's a tendency to over-engineer things. There's a tendency to build very large models. We said, "Let's start with something basic." Again, we wanted to get back to a real-life example of AI. So we looked at four basic things. We looked at manual, repetitive, hard-to-solve workflows. So that was step number one. We looked at customers that have been trying to automate a piece of their workflow that's just been incredibly hard to automate. And for those of you who have used automation technology, you can imagine automation has limitations. AI does not have those limitations. So that was step one to look at high friction areas with customers and solve real problems. So we were looking at customers that had maybe 10 to 15 steps in a workflow or a customer that has hundreds of thousands of invoices, but they want to match it to purchase orders. No human can do that. It is an impossible task to be able to do it. Or a customer that has thousands and thousands of vendor data, that is a problem with data, and they want the data cleaned up. Again, no human can do that. Only AI can. So we looked at some really interesting use cases in four areas. One was high friction workflow, manual workflow. Two was data. Can we help customers fix their data problem? Every SAP customer has a data problem. Every Oracle customer has a data problem. Master data management was a big piece of it. Can we fix that? Again, real-world problems. Number three, can we get better reporting? Can we get better decision-making? Can AI agents listen, have intelligence on what's going on with the system? That was amazing, right? So for a retailer to be able to figure out what's going on with distribution and getting real-time alerts from an agent is a very compelling use case that we've been able to deploy. And then the fourth piece was, what about customers with multiple ERP solutions? Is there a possibility? I know there's some folks in the back of the room that have this, but is there a possibility of spanning a workflow across multiple ERPs and bringing it together? So a lot of interesting use cases, but we picked a few narrow ones. We started a pilot. The biggest goal was to get ROI and results coming out of this. This builds confidence. This builds things in small steps. It gets us to the next level. So this is the part that gets our sales teams quite excited. So what is the growth? How do we expect to monetize Agentic AI ERP? So we're going to start with these pilots. We have 26 right now, and we're going to grow them to multiple use cases so we can go across multiple processes. It could be some of these on the supply chain side. Some of it could be on financial services. Some of it could be manufacturing. But the idea is start with one use case, show value, and then expand to multiple use cases. Once we get past a few use cases, what we want to do is build out Agentic AI ERP apps. That could be a vendor management app. That could be a customer onboarding app. That could be an invoicing app. Could be a purchase order app. We're starting to build a framework for a lot of these Agentic AI ERP apps based on some of the examples of the use cases that we built. Finally, for customers that want to transform the entire enterprise, once we start building some credibility app by app, use case by use case, we're going to layer Agentic AI across the enterprise. We're really excited to dive into these multiple use cases, and it is fascinating to hear some of the problems, some of the challenges that our customers are running into, things that have held them back for years and years that can now be solved with AI. The timing for this is absolutely exciting. What's exciting for us as a company is we get to grow with our customers. We get to deepen our relationships. We get to take our problem-solving from just support all the way to innovation. That is truly exciting for all of us. This slide, we're all very proud of this. I'm especially very proud of this. 90 days ago, this slide was blank. We had nothing. We were just starting. We had built out the framework. We had built out the concept, and then we started talking to customers, and we got a lot of great input. And since then, we've got dozens of clients on these Agentic AI ERP pilots, and we've solved a number of very, very interesting use cases. You'll hear things that we've done on vendor onboarding. We've been able to optimize sales creation processes. Very interesting that our customers have come back and said, "Look, we have a quoting system. We don't like it. We've been struggling with it for 20 years. Can you use AI to help us generate quotes?" Absolutely. Sounds like a unique problem. We've got a customer out in Malaysia that has a tender management system. It's highly complicated. They've asked us to automate that with AI. We've got a partner onboarding application that we're building as well. We've got a lot of client onboarding examples. So the use cases are incredibly large. In November, just a few months back, McKinsey released the State of AI report. It is a must-read. I think it came out November 5th, and it lists out three things. The next phase of AI will be Agentic AI running on apps. The second phase of AI will be business use cases. The third phase is really driving business value. We looked at the report. It just came out 30 days ago. It is a complete validation of everything that we're setting to do with our clients. It is really, really exciting time. I think I do have a video of one of our case studies that we put together. Let me go ahead and see if we can play the video. Ypê looked to improve EDI order handling by eliminating delays and manual interventions. Previously, blocked orders in SAP due to price discrepancies slowed processing and required specialist checks, impacting fulfillment and customer experience. With Rimini Agentic UX, the platform integrates seamlessly with SAP to automate blocked order updates and trigger email alerts for rapid action. AI-driven recommendations guide decisions such as adjusting prices or canceling items, streamlining complexity, and accelerating resolution. This enhancement removes manual steps, shortens order cycles, and ensures timely delivery, helping Ypê boost customer satisfaction while driving efficiency and innovation. We have the CIO of Ypê in the room with us. Geraldo, please come on stage. Congratulations. Amazing work. Thank you. Thank you. So how long did it take us to deliver this for you? I think the project took less than one month. Less than one month. That's amazing. That's amazing. Yeah, I'm sure there's a lot of folks with a lot of questions, but let me ask you a few things. What kind of operational problems were you thinking about when you started this program? Great. Ypê has 22,000 B2B customers and 400 products, and the products are in 95% of Brazilian homes, more than Coke there. The challenge was a lot of friction in the order-to-cash process. Yeah. Order-to-cash. That's a very, very interesting use case. A lot of friction there. Yeah. Based on an early view of the solution we built, what kind of problems are you seeing value in the solution that we provided? So, in truth, we tried to solve these frictions in another way, but we couldn't finish and deliver a big experience to our employees, to our customers. Right now, we have a good product. Awesome. That is great to hear. What are the big metrics that you're tracking out of this? So when we think about AI in Ypê, we look forward to solve four work streams: increased sales, of course, control our costs and SG&A, ESG, and the total experience, especially for our employees and for our customers, and this project addresses all four. Awesome. Real AI for real metrics. Really, really happy to see that we're driving all this value. Yeah. What are your thoughts on Agentic AI ERP sitting on top of ERP systems? What would you tell the room here in terms of our direction? Yes. In my opinion, AI and Agentic AI or generative AI is changing everything. I think we don't have a differential advantage from ERP, but when you use ERP plus AI, you have. Yeah. Awesome. Thank you so much. You're welcome. All right. Let me. Here, Rimini Street has been helping thousands of clients save billions of dollars with the most responsive, robust software support, maximizing the full potential of their SAP, Oracle ERP, and more. Today, Rimini Street is helping enterprises transform their current ERP software to Agentic AI ERP. Introducing Rimini Agentic UX, an intelligent user experience layer powered by AI deployed across the top of your existing systems to change the way you work without changing your ERP. It delivers a modern work experience in weeks instead of months or years, so you can streamline and automate processes, improve productivity with AI agent assistance, and lower total operating costs for improved profitability. Rimini Agentic UX, making ERP process execution better, faster, and cheaper in the age of AI. Awesome. Let me welcome on stage Dave. All right. Thank you, VJ. Awesome. So my name's Dave Rowe. I'm our Chief Marketing and Product Officer here at Rimini Street. I'll try to catch us up a little bit on time, but I've been here 19-plus years, and I've never been more excited about the products and services that we have in our bag now. So I want to give you a sense for how we're going to market these capabilities that Seth and VJ and Craig talked about and create leads and pipeline that Steve Herskowitz, our CRO, and his team will take to market and close. Okay? All right. So this is a summary of our go-to-market strategy. And we've got to execute on each component here to achieve, I think, the full potential of Rimini Street. Starts at the top with our Agentic AI ERP vision. And this is actually a very big deal because we now have a North Star, a way to help organizations deliver the innovation they need. Ten years ago, we didn't have this. It was like, "Here's your savings. Let us know how it goes." Right? Now we have the ability to help people achieve this. It's very important. The second part of the go-to-market is the smart path. We didn't go into detail on it, but this is the how. This is how we get organizations to the Agentic AI ERP and how we pay for it, how they fund it within their existing budget. So this is an important part of our go-to-market strategy. In the middle, we have the software ecosystems that our clients are in, that we participate in. We have to meet them where they are. So we have to talk to them and understand their strategies around these applications and all the software that they run. So it's very important, a dimension of our go-to-market strategy. And then on the bottom, we have some of the basic elements of the go-to-market strategy. We've got first, land and expand. Right? So 95% or higher, we land with support. That's where we start. Right? It's the most powerful part of our solution. And then we expand with the Optimize and the Innovate capabilities that we have. That's the basic sales and marketing motion at Rimini Street. And we support that through some elemental kind of channels and motions on the bottom, our direct sales force, primarily historically selling new logos, but now going to clients. We have our client cross-sell motion, which is very important. I'll talk about that in a second. We have a newer partner motion at Rimini Street, which is very exciting for us. Okay? All right. I'm going to talk about kind of three main marketing priorities. The first is building awareness. Okay? Very important that we get the word out on what Rimini Street is capable of today and how we can help customers achieve these objectives that VJ and Seth and everybody talked about. Three primary strategies. We're doing massive launches around Agentic AI ERP to get the word out. This morning, as VJ mentioned, a press release went out on Rimini Agentic UX. Very exciting. There's going to be a rolling thunder of launch activities around this set of capabilities. Okay? We've got thought leadership throughout the company. We have experts in our solutions engineering group, CTOs, industry experts. We've got folks that have written books about the technologies we support. Right? We're getting them out to blog, to do interviews, to participate at Gartner Symposiums and other places. Right? Very important part of our strategy, and then lastly, we have a huge public relations and analyst relations and comms game plan. And if you keep track of Rimini Street, you've seen a huge influx in the number of case studies we're getting out, the interviews that we're doing. You see Seth plastered all over all kinds of different media interviews. It's important that we communicate the value we can now achieve for customers. Okay? So this is a very important part of building awareness and softening the beachhead as a part of our strategy. Now I want to talk about the second piece, which is the expansion levers, the growth levers that we're focused on from a sales and marketing standpoint. First, we support more software than ever before. Craig talked to you about Rimini Custom. If you look back at the traditional Oracle SAP markets, it was roughly $15 billion of support total addressable market for us with Oracle and SAP. With Rimini Custom, we can essentially support any software that is supportable. That opens up about $65 billion of additional support TAM for us, and we have programs in place to get out there and get our clients to understand this and expand the level of work we do from a support standpoint. Very important vector of growth for us. Clients, as I mentioned, this cross-sell motion, very important. Traditionally, Rimini Street had one service for the first 10, 12 years of the company. It was support, and once we took support for the major ERP platform, we didn't have a lot of cross-sell motions historically. Now we do have a lot more products and services and capabilities, plus a lot more software to support. So this motion is very important. We have teams in place, client marketing expansion happening. And Eric will talk a little bit about that as we work on this later. Partner motions. We now have partners. In the early days of Rimini Street, we were competitive with so much of the software market ecosystem, we didn't have strong partnerships with a variety of the players. Now we do. The dynamics of power in the market have changed. And so we have joint solutions with these organizations like ServiceNow and others, and we're taking them to market with joint marketing capabilities, joint events. And the good news is, both for clients and for partners, this is more qualified pipeline. The leads in the pipeline move easier through the funnel. They close at a higher rate. So it's very important to our continued growth to be successful here. Okay? And then lastly, on the solution side, we're doing solution bundling. We're combining some of our great products and services to create more value for customers and get them to their outcomes that they want. And I'll give you an example. We have an advanced security product for hypervisor security. We bundle that with our support for VMware and other hypervisor products. It creates a differentiated solution. We can get a higher overall ASP. And over time, we'll improve retention for these services. So these are really important processes for us as we grow up now with more products and services to take to market. Okay? And then just to expand on the TAM a little bit, as many of you are familiar with the TAM, total addressable market numbers we've shared in the past, right? $352 billion of opportunity represented by the support and optimized pillars primarily in those calculations. I want to highlight the $65 billion of additional support TAM that is represented by the Rimini Custom expansion as we add more software products, very important under support. And then you look at optimize. This is the rest of the $352 billion. This is the project management, the managed services, professional services, security, all the other related application products and services. Some of the prior estimates you've seen from an investor standpoint, right? I think the cross-sell optimized opportunity is about $1.1 billion or so. With more products and services now, that's over $2 billion. And that's our focus for optimize and innovate for now is the clients. Right? Where better to sell these products and services is with existing support clients that love their service with Rimini Street. Very important. We will, over time, compete more broadly, but right now, that's the sweet spot for us. Okay? All right. The third point I wanted to cover today was marketing leverage. It's very important that, like all organizations Seth talked about, we do more with less. And from a marketing standpoint, it's very important we get more output for every marketing dollar. And there's all kinds of technology today to help us do that. So I just want to give you a sense of some of the initiatives that we have in place to do just that. Like many organizations, we're using generative AI and other related tools to generate content, to deploy it globally, to localize it, to translate it, to move more quickly. We're also using technology in the campaign area in particular. Campaigns are complex. There's a lot of moving parts. The buying groups are expanded. It's very important we move faster to test new digital ad copy, to test new content, and get the results quickly, see what's working, and then iterate for our campaigns around the world. So we've deployed parts of our tech stack to address that, and we're continuing to do that into 2026. From a business development standpoint, one important part of our go-to-market is our sales development reps, the tip of the spear, if you will, in terms of engaging and talking with prospects and clients. There's technology today that makes them more productive. We're not looking to replace them and eliminate them. We're looking to make them more productive so that we can do what took three SDRs in the past. We can do that with one or two as we expand and scale and grow. Okay? And then lastly, many of you have heard about these studies where organizations or individuals do 40%, 50%, or 60% of their own research before they ever engage with a vendor like Rimini Street. The buying cycle, you do all of it on the web, searching around, becoming an expert. We all do this every day. Right? We have been revamping our website to do just that, to make it more engaging, to give organizations the content they're looking for in different forms, with different tools, with different how-to guides. And there's just a continued effort here to make this more accessible and more engaging. The good news is it's working. If I look at the results that we're seeing just as a kind of a starter set, if you will, we're seeing year-over-year results, more active users engaging on the website, going deeper on the website with more page views, significantly more engaged sessions, chatting us up on our chat tool online at a much higher rate. This is resulting in, from marketing programs, more pipeline being created year over year. Importantly, in North America, our biggest market, right, over 50% growth in marketing-generated pipeline. This is working. We're making great progress. This is going to form a lot of the foundation of our strategy going into 2026. Okay? With that, that's the pipeline that my good friend Steve Herskowitz and his team are going to drive to close. Thank you very much. Thank you, Dave. Yep. Good morning, everybody, so I'm Steve Herskowitz, Chief Revenue Officer, Rimini Street. I've been with the company for just over a year and a half, and boy, never a better time to be with this company because I feel like it's on a rocket ship with a huge growth opportunity, an exponential opportunity for us to succeed together as we move forward. I've spent the last 18 months working with the sales force, changing the skills, traveling the world, meeting with customers, and really listening to customers about the problems that they're trying to solve, and what I've learned from that is that, number one, our customers are very, very satisfied. My background is for some of the largest tech companies in the world. I spent many years at Cisco early in my career, HP, HPE, Avaya, other kind of companies. Never in my life have I seen the level of customer satisfaction that our customers portray to me when I'm in the field with them. The other thing that I've observed is that we have become a business-relevant technology company. Customers really need the services that we're providing because they're trying to solve real business problems, making our people more productive, making their processes more intelligent, growing their profits, reducing their cost, improving their revenue. Customers around the world have communicated to me that this is why we are differentiated as a company, because we actually solve real problems. With this advent of Agentic AI, you've heard a lot about this morning, it's really validating that because customers need our help in this particular area. So in terms of our go-to-market, we are in the process of transforming this company from, as Dave just mentioned, a one-product selling support-only company to a company that sells a continuum of products across a broad portfolio, essentially becoming solution sellers. Make no mistake about it, in our go-to-market, selling support is our core business. But we have tightly aligned our sales organizations, the way they're organized, the way they call on customers in a very, very simplistic way to expand the maximum amount of our opportunity. We've structured our people, especially in our client base here in North America, in a vertical way. We've got industry specialists to support them on the back end. And then we've also empowered our salespeople to be able to cross-sell across the portfolio as we continue to enable them from one-product sort of a sales team to a sales team that can sell across a continuum of solutions. We've also upgraded and refreshed the leadership where we needed to across the company. And I feel like we've got the right leadership in place today to continue to grow this company and take it to the next level following Act Two. And one of the other things that we've done the last year and a half is we've instituted a very, very specific and disciplined sales culture. We call it a commit culture, essentially a process that drives accountability, that drives sales discipline, and that drives focus on results. And it's reflected in our consistent quarterly improvement in the key sales execution metrics. And then lastly, Dave mentioned this a little bit, but we've developed a partnership strategy and a partnership organization, which is really going to help us scale. I think most people, especially investors, realize that you just simply don't have enough capacity. Eventually, you run out of capacity to scale your business to that next level. And so we've embraced channel partners to help us get that scale, but at the same time, not taking on the sales and marketing expense to gain that scale. So we've built some very, very specific partnerships on the OEM side with hosting providers, providers that host large Oracle and SAP workloads, with government channels and government partners, as well as, Dave mentioned and Seth had mentioned ServiceNow, of course, a great partner. We're aligned with them because they want to sell licensing. They understand our ERP experience enables them to sell more ERP-like licensing. And oh, by the way, if they open the doors for us, as they have, to their installed base, and we help their installed base solve critical ERP problems and save them money, it frees up capital for partners like ServiceNow to be able to sell more projects and sell more licensing. So we're completely aligned. Okay? And then we drive co-sell motions, resell motions, and then sell with and sell through opportunities with all of these partners in a different way. But some of these big OEMs, if you think about it, right, that manufacture the compute infrastructure that a lot of these workloads run on today, they want to keep them on-premise. We're aligned, just like we do, because we believe that there's a lot of innovation that can happen on these apps if you keep them on-premise. The issue is that every time one of these large software vendors moves a customer from on-premise into the cloud to follow their roadmap, it decreases their TAM, so these particular partners, especially these OEM partners, are very, very aligned with us to try and deliver infrastructure and platform as a service and leverage Rimini Street as a layer on top of it to support the ERP apps, and then, of course, help those customers with the savings we provide, innovate to the agentic AI like we've talked about, so you've seen the SmartPath slide a couple of times today. In terms of sales capability, the SmartPath really gives our sales organization and our customers the ability to understand what it is that we do in a simplified way. You see it says as easy as one, two, three. Our main message to customers today is that we support their infrastructure better than the current OEMs that can do it at a substantial and a significant savings to what they're paying for that support today. And Craig walked you through just how we do that today. However, as we've developed with those customers, many of them have asked us to run these systems for them end-to-end. So it provides an opportunity for us to go in and sell to the managed services opportunities and a lot of professional services opportunities because these customers have very complex environments and they need a lot of work done on these systems because they're legacy. And we provide that value through our optimized pillar. And then lastly, with the savings that we provide, we can help customers satisfy their innovation agenda through the innovation pillar that you heard Vijay talk about before. And this is really about extracting much more value out of these existing systems than the customers are getting today. And they're at a crossroads. Right? Either they're going to extract more value out of these systems and do the agentic AI ERP on top, or they're going to follow the vendor's roadmap to their products in the cloud and get locked in for another 20 years. And I'll tell you, customers really see the value in what we're doing. It's been validated time and time again as I get into the market across the world and have these discussions. We do have some sales motion changes, right, as a result of this innovation, right, because it gives us an opportunity, as we've become much more business relevant, to call on new buying centers. In fact, we're having meetings today with CEOs, with COOs, with line of business leaders that run factory floors, that run supply chains. It gives us multiple points of insertion into these customers instead of the same place that we would go two, three, four years ago to the middle levels of IT, to the team that took care of the databases or the ERP systems and calling in that middle level. Now we're at a point where we're adding so much value that customers have a seat at what I like to call the adults' table, and it helps us develop more disciplined pipeline creation with a land and expand strategy, allows us to collaborate a lot more with marketing and with presales engineering to do different solutions and figure out what kind of events we want to run and what kind of products we want to market to, and then it also allows us hugely to focus on the white space, especially with these new partners. We're closing deals right now in this quarter, for example, that partners have brought to us from their installed base where these customers needed help, and we didn't have a presence with those customers, and they weren't even on our funnel, so it's incremental to everything else that we're doing as a company. And then lastly, I'll say one of the other changes is that it allows for us to build and develop more long-term contracts, right, because if customers actually understand that we have a strategy that goes just beyond supporting their existing ERP system at a lower cost, they're more inclined to want to stay with us longer and to take advantage of that innovation roadmap. And I also would say that this is helping with our client retention, which you're going to hear a little bit about in a few minutes in a speaker following me, because it's the same thing. Our competitors, the monopolistic software vendors, go into these accounts and tell them that if you don't move with us and don't follow our roadmap to the cloud, you're not going to get any innovation. A lot of times, customers get fearful and they get scared and they decide, "Hey, I've had a good experience with Rimini Street, but my board, my execs, my CEO want for me to do innovation. So I have no choice but to follow that software vendor to the cloud to get the innovation that I need to run my business." That's simply not true. When we engage them during a renewal process, we talk a lot about Agentic AI, Agentic AI ERP, and how they can get a much faster, with more velocity, level of innovation on top of the current system without the disruption, without the risk. This, by the way, is not an upgrade. When these customers are being asked to move, it's a reimplementation, right? They've got to hire a consulting company, back up a school bus of consultants to stay on site for a couple of years. It creates a huge amount of risk and cost to the business. This is helping with our retention as well. In terms of the growth areas for us in 2026, we're focused on a couple of areas. I mentioned channels and alliances. I think you have a good flair for what that's all about. We are also instituting a private equity sales team. We are calling on a lot of companies today that are owned by investors in private equity and in specific industries like manufacturing, automotive parts, and things like that. We're closing these deals one at a time. And we've made a decision as a business that we need a stand-up team to specifically call on private equity companies that own these portfolio companies to get scale. So we're in the process of doing that. We're going to work with them to sign MSAs to push down across their entire portfolios. And we also work with the turnaround players, the folks like Alvarez & Marsal, for example, who would bring us in when they're doing a turnaround for whatever the reason is and look for our help to create an immediate impact. And then also, we have recently been awarded or got onto the federal government GSA contract, which has been about a year-long or more piece of work that our company has done. And this has opened up huge doors for us to sell into the U.S. federal government. And we've always had some state, local, and education business, but this adds incremental value there as well. So we're working on huge opportunities now with the federal government. These agencies do not have the budget, as everybody knows, to spend on large, unnecessary, unneeded upgrades. And so they're coming to us and looking for alternatives. And we've had some success there. We're going to build a team out there completely, and we'll continue to grow that. And additionally, it's important that we keep our sales teams current on all that's going on, right? So as we've hired into a new solution selling mindset and we've introduced some of this Agentic AI ERP, we know that we've got to continue to evolve the sales team. So we've certified almost 100% of our sales organization on this ERP messaging and how we're doing it. They've been deeply involved, the sales organization, in the pilots that we're running that Vijay put up before. We've also moved because we want to make sure that we're spending our sales time on the most qualified opportunities that have the highest potential. We've instituted something called the MedPick process, which has largely been used in the SaaS business for many, many years, but it's a way for our managers, our sales leaders, to identify gaps in the sales process and in the pipeline so that we understand and know that what we're working on are really legitimate, qualified opportunities that have budget, that are with the right people that have authority, and that we really understand the sales situation, so we're going to continue to drive that. It's become a regular part of our cadence. We've qualified our sales team on that. And then we use a lot of AI inside the business as well. Tools like Clary, for example, and other run-the-business, I'll call it, learning tools to provide real-time insights, enable targeted interventions where we need to do them, and also to increase our participation rate. So we're measuring, of course, who's participating, how much they're selling, what kind of margin they're driving, what kind of projects they're involved in, and make sure across the sales team that we have the right balance between near-term, short-term opportunities that are needed against the larger, more strategic, complex opportunities that are the ones that are going to help us increase our growth and our profitability. And so I just wanted to touch for a minute before I wind down on North America, our largest market for sure. We've made some big changes in this market over the last year and a half to get us ready for the time that we're in now with this agentic AI ERP offer that we have. And so some of you remember as investors that about a year ago, we went to a hunter-farmer model where we took North America, we took our current sales team, we morphed them into a group of hunters that were only doing one thing, and that was calling on net new logos. And that's working very, very successfully. We also, at the same time, took a group of our CSM team who were outside of the number, were not quota-carrying salespeople, and we repurposed those headcount and hired engagement managers, about 18 of them. And we've got them mostly all on board and most of them ramped today. I will tell you that we're seeing huge benefits from this change that we made. By the way, this did not increase our cost. We did this all within the existing budget envelope, right? We're seeing, for example, on cross-sell contracts, and Dave talked about how cross-sell this year is going to be a huge growth area for us. We've improved the cross-sell contracts year on year through Q3 by 12% just with this team alone. They're all still in this ramping mode, but you can see them selling more. They're still doing the account management role. Of course, they have some other responsibilities as well. This is a huge benefit to our company. We're looking at the possibility of expanding this beyond the Americas. And then in terms of progress, in NAMR alone or North America, NAMR is what we call it, we've driven win rates of an increase year to date of 14%. Our average selling price has increased year to date by 17%. And in terms of the number of big deals, I'll call them greater than $800,000 on a year-to-date basis, that has increased by 11% as well. So we're seeing really good results here. You can see a snap of some of the notable wins that we had here in Q3. And then, of course, as we talk about the priorities for this year, we're going to deliver the plan. We're going to accelerate our growth in the channel. And with the federal team and this private equity team that we stand up, we're going to make sure that this agentic AI messaging is crisp and clear across every salesperson in the organization. And then we're also going to ensure readiness for FY26 with a strong start, great pipeline metrics, and strong client engagement. So I'll end on this slide. We are on track to do great things in this company. And the opportunity for us is incredible. Okay? We've got a high-performing global sales team, seven regions around the world with general managers that know how to execute and execute correctly. We've got disciplined execution and predictable growth across the business that we're seeing quarter on quarter. We've got a very, very strong expansion engine with this agentic AI ERP messaging that's relevant now. Customers need it. Okay? Then we've got all of the scalable growth levers in motion today. We'll continue to add them as we move forward. Our goal is to continue to grow this business and develop and make sure that everybody in the organization has a growth mindset. Thank you for listening. I look forward to interacting with some of you throughout the day. With that, let me introduce Nancy. Thank you. Good morning, everyone. I'm Nancy Lusk. It's great to be with you today. I've actually been with Rimini Street 16 years. I have to tell you, it's been a thrilling ride the entire time I've been here. What excitement to be able to bring choice to the industry and to allow our IT executives to actually own how they're going to deploy those scarce IT budgets. It's really been just a great experience. As the Chief Client Officer, I travel the world meeting with many of our clients. And I have to tell you, it's really the customer experience that makes a huge difference for us at Rimini Street. Let me go to my next slide. I'm a little off here. So again, at Rimini Street, we know that the customer-centric operating model is key for us to be able to retain and to grow our clients. So our client experience is really a key differentiator for us. We know that if we're doing a great job with our clients, it's only natural for them to ask, "What else can we do for them?" So again, an exceptional client experience really leads to client growth. I'll tell you, with this growth model, we've actually had the experience of having an 11% CAGR and cross-sell revenue over the last three years. Again, we have extensive room for growth. This is really dependent upon a Rimini SmartPath that allows us to provide support, optimize, and innovate solutions. Of course, this provides us then a great cross-sell opportunity of billions of dollars within our client base. Let's take a deeper look at our Rimini client profile. We support some of the largest, most complex clients in the world with over 200 of the Fortune 500 and Global 100. In fact, 33% of our clients have annual revenues of over a billion dollars, and about 50% are more mid-market-sized clients. We have signed over 6,300 contracts, and we currently manage 1,590 clients globally. This is really across five primary industries, with manufacturing really being our sweet spot, followed by services, and then technology, media, and telecom. Nearly 50% of our client base is in the United States. And then that's followed by APAC with 29%, EMEA 17%, and then LATAM 7%. So the three pillars of our customer success strategy are grounded in the customer experience. So our client engagement methodology, it's really focused on an intentional, distinctive client journey. So our client success managers, they really own the post-sales client relationship. They're responsible for retention, expansion, utilization, and client advocacy. The success of this model is really evidenced by our 4.9 customer satisfaction score. And this is across onboarding as well as all of our support delivery. Then our goal is to expand our client growth through the cross-sell of new offerings and services. It's key that almost 70% of our clients today have more than one offering that's provided by Rimini Street. And with utilizing AI and the propensity to buy signals, we are primed to capture significant additional market share with the opportunity within our client base. We also have another pillar where we're focused on protecting and retaining the client revenue from our client base. And Kevin Maddock's going to come up next. And he's actually going to be able to talk to you about this in more detail. So next, I'm going to dive deeper into our approach to client engagement strategy. So our client engagement strategy is really simple, and it's regionally driven. Our CSMs are aligned by industry as well as existing and potential client revenue. Our engagement model is also hybrid. Of course, we have a high-touch human element and also a digital client engagement motion. And that really helps us to drive awareness and interest in our new support and services offerings. We also have a strategic accounts program, and this is really focused to protect and nurture those clients, again, with the greatest existing and potential revenue opportunities across Rimini Street. I'm also really excited. I'm going to spend some time about some of the new technologies that we've introduced to really further our retention, our cross-sell utilization, and client satisfaction across our client base. A lot of our technologies are also helping our client success managers to really relieve some of the administrative burden of their role and to really be focused more on the client experience, so when I look at our strategic account program, it's really focused, again, on our high-potential, high-value clients, so these clients are our most complex clients across the world. We see a lot of M&A activity. We see a lot of dynamic technology strategies across this segment as well. Nearly 60% of these strategic clients have had a change in the C-level executive over the past 18 months. We all know that the C-suite is constantly changing on a regular basis, and so really continuing to maintain these executive relationships is a key component of this program. We actually assign executive sponsors from our senior executive team to peers within the client accounts to create a sense of community and to really provide unbiased guidance and to really, again, support the client's long and near-term technology strategies. The more we understand about our client's technology strategies, the more we can offer different areas of expertise and services where Rimini Street might be able to provide additional value. These clients across Rimini Street, not only in the strategic accounts program, but all of our clients, they really look to Rimini Street for technology expertise, for industry insights, and also how they can leverage Rimini Street to drive additional immediate cost savings and then really fund their innovation into other more competitive areas for the company. I'd like to talk a bit about how we're actually using AI to transform the customer success management role at Rimini Street as well, again, to really free up their time to be more focused on the client experience. I'd say that industry-wide, the role of the customer success, excuse me, the role of the customer success manager has never been more critical or complex. They're really asked to be strategic advisors, relationship managers, as well as quota-carrying sales reps and renewal captains. So I'd like to believe that we're leading the CSM evolution with the adoption of AI. And again, we're really there to support the customer success manager role, not to replace customer success managers and that human element. So we're really trying to allow them to transition from being a task administrator to really a strategic advisor to our clients because that's really their critical and most high-valued role. So we're doing this through the automation of client intelligence as one area. And again, this is really critical to allow us to predict insights to drive where we should be having executive touchpoints and where we can really be assisting our clients to drive additional value from the Rimini Street investment. Also, with the integrations of platforms and tools, again, this really helps us to ensure that we're leveraging AI, again, to free up their administrative burden so they can really be focused on the client experience. So here's some examples of AI-generated client intelligence that we're actually producing today. So again, we now have up-to-the-minute account plans, power maps, white space analysis, and intent buying signals. We're actually using commercially available tools and LLM models such as Pinkfish, which is an agentic automation platform, OpenAI ChatGPT 5 Deep Research, Claude Sonnet 3.5, and Microsoft Copilot, all of these within Azure Private Tenancy. So the leadership profiles that we have for new executives, they really help us to understand their past playbook and what they're likely to care about most as they move into this new position. In this new role, what are their technology plays from their past that they might look to implement in this new role? And then, of course, the white space analysis. This really gives us a comprehensive look at the picture of our client's technology footprint so we can proactively work with them to understand their technology strategy plays and what other support and services from Rimini Street could be deployed there. Further, the commercial AI tools that we use, along with our home-built LLM models, provide really a complete 360-degree view of the client's environment. And again, we're really honing in on things like intent buying signals, things such as, have they been visiting our website? Are they out searching to look at third-party support or perhaps managed services? Are there conversations in our support cases where they're actually working with our engineers that might lead us to understand they have an area of need in another area where they might benefit from a new Rimini Street support or service? And then once we do have a cross-sell opportunity, we actually have a proprietary forecasting model that we built. This gives insight into the likelihood to close for an opportunity, and it also provides the recommended next steps to actually increase the velocity of that opportunity to close. So all of these insights and tools remove the manual work again and provide key expansion and details available to our CSMs, again, so they're really focused on the client experience, which, again, we know is a differentiator for Rimini Street. So I'd like to end today with a quick update on our long-running client, Hyundai. This is a great success story. So Hyundai came to Rimini Street back in 2019 because they simply weren't satisfied with the value of support they were receiving from their current vendor. So since 2019, Rimini Street has supported Hyundai's global IT environment. We've really been a strategic partner, starting with Hyundai Motor Group and also its IT subsidiary, Hyundai AutoEver. And again, we've been providing support for both Oracle and SAP systems, the full application as well as the technology stacks. So this partnership now has expanded to 37 subsidiaries across seven of Hyundai's industries and into regions, including North America, Brazil, Mexico, Europe, and India. And it's actually resulted in tens of millions of dollars of savings, which Hyundai has been able to drive innovation and reinvestment with. It was actually a natural fit for Hyundai to partner with Rimini Street, as really one of their secret sauce items in the industry is they strive to develop and build a car for thousands less than their nearest competitor. These tens of millions in cost savings have actually allowed Hyundai now to fund key innovation, such as autonomous vehicles, hydrogen-powered vehicles, and also a very ambitious program where they're trying to aggressively roll out 27 new EV models in 2027. I also want to note that this partnership with Hyundai has been unique in that we also have a master services agreement, kind of like our GSA agreement in the US, and this is where their suppliers as well as supply chain partners are able to buy off those MSAs, again, looking to drive value and cost reduction from Rimini Street services. Hyundai is encouraging their own suppliers to work with Rimini Street so that the savings they incur, they can then pass along to Hyundai. So again, I find this to be one of our great client success stories. But of course, you're going to hear from some of our clients in just a bit. So I'm really excited for you to hear from some of those clients today as well. So thank you for your time. It's great to have you here. Next up, I'm going to introduce Kevin Maddock. Thanks, Nancy. Good morning. My name is Kevin Maddock. I am our Chief Recurring Revenue Officer. And in that function, I'm responsible for managing and optimizing our very important subscription annual recurring revenue base. And today, I'm going to be speaking about the strategies and approaches that we employ to ensure that our customers are continually receiving value from us throughout their life cycle and ensuring that we're delivering that value to put us in a position that we continue to protect and grow this very, very important revenue stream, a revenue stream that today, in fact, comprises about 95% of our total revenue. So you've seen the Rimini SmartPath presented in a couple of the other presentations this morning. And our subscription revenue really encompasses and crosses through all three of these pillars. So in our support pillar, we have customers replace their vendor support at a much lower cost. In our optimized pillar, our customers can utilize our professional services or managed service solutions to gain further efficiencies and drive further ROI out of their software applications. And then they can use the savings that they achieve in pillars one and two in our third pillar while they look to drive innovation and AI strategies, including our newly launched Rimini Agentic UX solution that we just announced today. So you can see here that our SmartPath methodology really provides a clear roadmap for our customers to be able to utilize all of our services, which should make them stickier, which we expect should increasingly drive our retention rates and our long-term client value of their subscription contracts. So in terms of retention, from a retention perspective, if customers feel like they're receiving value from us, they're going to renew. And we start our retention process on day one in the sales cycle. We have our salespeople and then our customer success managers work with our customers to align on the value that they're expecting to receive from our services, and then we work with them to review what their expected outcomes are and then equate them to measurable ROIs, and then we work with them throughout the client lifecycle to ensure that they actually achieve these goals, then from a client engagement perspective, I think you'll see on our client panels later today that many of our clients view us not just as their support provider, but also as a strategic advisor, and they'll often invite us into their technology discussions where they're addressing what upcoming technology needs they have, which are often competing with increasingly tightened or constrained budgets, so we'll bring in our experts into these discussions that can offer them technology roadmap strategies or license advice. As Seth mentioned in his presentation, more and more we're being brought in at the board level where we can discuss with the board members that they actually have alternatives and options other than having to go back to the very expensive vendor roadmaps. Then in terms of renewals, with about a $400 million annual subscription revenue stream, we process multiple millions of dollars of renewals every single working day. So we take this function very seriously. We don't treat it as a back office administrative function like many other IT companies do. So we've built out a very robust and detailed sales process. We have a dedicated team of renewal sales professionals who proactively work with our customers, and they collaborate with our regional GMs and our regional customer success managers throughout the customer lifecycle, not just at the time when their support contract is due, which is what many IT companies that I've worked for have done, and then through this process, we've also developed an AI predictive risk model, which after 20 years in business, we've been able to determine what types of factors can drive potential risk in renewals, so more specifically, some examples would be if there is a CIO change or maybe if a customer has been reducing the volume of cases that they call in. This model can alert our renewals team, and then we alert our CSMs to immediately engage with the customer so that we can address these issues and rectify them prior to their renewal time, so there's a number of factors that influence why our customer or what drives our retention with our customers, and first and foremost, without a doubt, is the exceptional level of customer support that we provide, and it's this level of support really. Our whole company's work culture, all our compensation plans are all focused around delivering a world-class level of support, and it's this world-class level of support that we consistently deliver that really enhances and expands our relationships with our customers from being not just their support provider, but becoming their trusted partner. And by becoming their trusted partner, it paves a path for us to be invited into their innovation technology discussions, which we're then able to influence. So for example, it's very common for us to be in these discussions where we can recommend our connectivity or our security solutions, both of which will expand the lifespan of our customer's ERP software applications, further reducing their costs and in turn, lengthening their relationships with us. So as we continue to grow our customer base, it's imperative that we scale our customer success organization so they can successfully and effectively manage our increasing number of customers. So we've leveraged technology, developed multiple tools and dashboards to enable our success managers to better manage the customers. And I've already talked about the predictive retention model that we use during our renewal process. Just in the interest of time, as I'm trying to get us back on schedule, I won't walk through each of these dashboards, but suffice it to say that these dashboards present a 360-degree view to our client engagement managers so that they can easily, at a glance, look at all their customers, see what renewals may be coming up, see what cross-sell opportunities that they have, and more importantly, see where there may be a potential issue or risk in the accounts. These dashboards allow our success managers to be able to focus and prioritize which accounts and which potential issues they need to be focusing on and prioritizing and solving these issues or potential issues before they become big problems. All of this is done with the intent of increasing our subscription renewal rates. Thanks very much. I'm now going to introduce Eric Helmer, our Chief Technology Officer. He should be here in a second. Sorry, a little technical difficulty there. Thank you. Hello, everybody. My name is Eric Helmer. I'm Chief Technology Officer for the company. I spend a lot of time in the space all over the world. I do a lot of keynote sessions at things like Gartner and IDC, interact with the media and things a lot. And I got to tell you, it's so super exciting to see in an audience of CIOs the light bulbs going off, the slap in the face that happens when people come to the realization that they can get better and faster advanced AI outcomes on their existing systems today as opposed to getting them freed up that they don't have to do very expensive migrations and reimplementations of their ERP. It's liberating. It's just a really fantastic conversation. The messaging is working just so well. We can't just talk about that in this room. We can't just talk about that with the executives. We have to execute on the ground. We have to enable our sellers and support our sellers to be able to have the tough conversations, to be able to get that light bulb to go off with our prospects and with our existing customers so that we can take them to the next layer. This year, I was tasked to build a world-class technical presales organization to do exactly that. We need to transform our presales capabilities to go beyond just the basic objection handling that we do every day and the deal progression activities that we do day to day and really start bringing in thought leadership and customer education and showing that the prospect is not just having a transaction with us today, that we are taking them on a journey through our support, optimize, and innovate pillars to enable end states in the most cost-effective way in only the way Rimini Street can deliver, by doing it by engineering solutions that solve real business problems using level four support as the funding mechanisms to get those outcomes done, so we created a consolidated, optimized single presales organization. There was a lot of different teams before this happened reporting up into different chains within our organization that all had different pieces and responsibility of the sales process and supporting our sales along the way. What we wanted to do is consolidate that into a single entity, a single hand to shake for our sellers to reach out for anything that they needed to help them support that technical sales motion. So it's really in three different pillars within the team. The first one is the executive engagement team. You've already heard a little bit about this today. These are ex-CIOs that we have hired over the course of the last year that bring in thought leadership capabilities to bring in credibility and get higher access level into our customers and prospects. It has a group of Chief Technology Officers. So I'm the global Chief Technology Officers. I have nine regional CTOs all over the world attached to regional sellers and GMs that can go into a sales cycle with our sellers and help them with the real issues of the day. What do I do about my data centers, my operations, my move to cloud, my Java problem, my data warehousing problem, my data integration problem? How do I achieve AI? How do I get better analytics? These are real conversations that have to happen today because those are the outcomes we are going to help our customers do, starting with step one of L4 support. Also in this team are industry principals. We have all the major key industries covered from ex-CIOs, from a very long tenure, companies specializing in particular industries that know the business problems that they are facing today. These are the guys who are talking about laws and sovereignty and getting more customers in the door and improving margins and streamlining supply chain operations and doing predictive maintenance on the manufacturing floor. These are the ones that are really doing industry-based things. So between these two, they can sit at the table with a CEO, with a CIO, and talk about the real problems, whether it's a technical-focused conversation, a business-focused conversation, or both, and have that credibility to show this is how Rimini Street partners with you to get these outcomes done in the most unique way that you're not going to be able to get from anyone else. The second group here is our presales engineers. These are your traditional presales engineers. These folks know the products inside and out. You need to have someone to have a conversation about HR and EBS? Got it. Need to have someone to have a conversation about how to do payroll and SAP? No problem. How to do cybersecurity on an Oracle database? Got them. So these are the folks that are walking hand to hand doing the technical objections, but also doing the pricing, the scoping, the discovery, really understanding the landscape here so that we can deliver the best possible proposal to that organization. And then finally, speaking of proposals, is our proposals and references team. As you can imagine, a lot of people, when they're making this decision to go to third-party support, they want to talk to some other people about that first. Sure, no problem. Happy to do that. And we deliver world-class professional proposals that make what I call the final compelling argument to get that over the line. Here's what we heard. It's customized for them. Here's your problem statement. Here's your business aspirations. And this is proof beyond a reasonable doubt how Rimini Street is the most logical and best-suited partner for you to achieve those objectives in the most cost-effective way. And by putting this team together, we have one single entity that is involved in every piece of the sales cycle, all the way from identifying the opportunity all the way to contract execution and anywhere in between. So we have different areas of all these individual subteams through one selling motion to make it a complete smooth transition all the way through the proposals and execution of it. And this is how we are going to really change going into Act Two. And that is really having more of a solution selling presence, using strategic alignment, using that executive engagement folks that are running that relationship at that executive level, right, while we're doing the technical enablement of having the solution architects inside the presales engineers doing the day-to-day objection handling, working with the people, maybe even DBAs, maybe even managers that are trying to really understand how this is all going to work under the cover. We are starting to build roadmaps, calculators, ROI calculators, tech debt assessments, risk assessments, value engineering, business case templates. So now we're really bringing real thought leadership into this to show that that CIO can go into that board and say, "I have done my due diligence. Here's the risk. Here's the business case. Here's the ROI. And this is the compelling argument that shows that Rimini Street's the best option for you." We must deliver real-world use cases and demos. We have to do demos now. We didn't really have to do demos before. But now we're creating solutions. We're creating POCs. We now have to get up there and show people live demos. We've got to show them what we have done for customers and POCs and case studies and things like that. So we're doing so much more of that. So we've got to build a world-class presales organization that is continuously being educated, continuously getting better. We're getting more and more products, more and more services, and more and more very, very advanced technology that we are leading the way with in many cases that we have to come up to speed globally, all over the world. We have to be up to speed. This team also is very important because they really are the tip of the spear for thought leadership in the company. So you can see a lot of the blogs that come out, things you might see on LinkedIn. It really comes from a lot from this team. One thing that we did mention quickly a couple of times is this rise of agentic AI ERP. We have some copies for you here today. I would definitely suggest you take a look at this. This is a look into the future for the next five or 10 years on what will happen with the ERP, how the agentic AI ERP era will significantly affect the ERP as you all know it today while that ERP slowly decomposes and eventually becomes invisible, and we're going to show you exactly how that's going to happen. We're going to show you the reference architecture, and you'll be able to see a lot of that within that paper. I also want to focus here a little bit on our industry team and how important they are when we're looking at these particular challenges because we're looking at the challenges of these companies. We can see that some people have problems with accelerating innovation and profitability, really needing to free resources up to do things like AI and machine learning and us being there right along the way with them, helping them with that enablement and then bringing the funding along in order to make that happen. At NIBCO, it was maximize and modernize the applications. They really had to modernize what they needed, but they didn't have the time, money, or resources to do these huge migrations. Plus, they had vulnerabilities in their system that needed to be mitigated. So we see all of these topics that, and this is just a sample of a manufacturing pillar, right? We have all the different ones that we have. But on the manufacturing here, these are the types of things that manufacturers are talking about today, investing in workforce training, again, doing the predictive analytics on the floors, cybersecurity measures because they have really old manufacturing systems. These are the things that people really want to talk about. And when we can sit down at the table and have peer-to-peer level conversations with these CIOs, this is where we break down the walls of, "You're just a help desk guy calling when something breaks," to a trusted advisor that's going to take them on a modernization journey. Okay? And then we have a bunch of other different ones as well from financial services, how we've helped these particular companies. Here's some trends over here at the financial services that we're seeing that are just constantly coming up, digital currency being a huge one, cybersecurity, improving the customer experience are all really at the top of that list. So I'm trying to get us caught up here on time, and I think we're doing somewhat okay. But what we have now here today is a little bit of a break that you all well deserve. Just 10 minutes, though, okay? We've got lots to do. So let's get back here. Let's see. We'll come back here maybe at the top of the hour. Yeah, top of the hour. And when we come back, we'll have a client panel discussion. We'll talk about financials, and we'll have a great Q&A session, okay? Thank you very much. Tidewater is a global company. We service all energy areas. We have 200-plus vessels, and we are the largest and most efficient vessel company in the offshore service sector. Tidewater's largest system is SAP, and we use it for everything from finance to payroll to HR to purchasing to operations. Our first engagement with Rimini Street was in Brazil. We still had a Brazil ERP, PeopleSoft, and we're looking for somebody to help us manage that. We were trying to do that in-house. One, it was very expensive, and two, we didn't have the expertise to be able to support that. So we reached out to Rimini Street. The savings were probably over 50%. The service was exceptional, and the communication was extremely good. So we would have quarterly meetings with Rimini Street, and the meetings were supposed to be on a monthly basis. We changed them to quarterly because everything was going so well. Then when we gave Rimini Street an opportunity to do the PeopleSoft to SAP project, it was amazing. We got praise from the business users on our side who don't give that very often. So I knew that we had chosen the right partner after that. Some companies think of Rimini Street as just a support company. Rimini Street has the capability and the resources to provide top consulting resources and projects. There's a need in our industry for consulting firms that can actually create value and work in a very structured and agile way. A lot of the large consulting firms are very expensive and very difficult to do business with. I think our whole team felt Rimini Street has provided real value to Tidewater. They really worked with us and took away that probably the number one complexity that most of us had was how do we manage taxes in Brazil for Tidewater. When we had our design sessions with Rimini Street, they were able to bring in some real knowledge of how to solve the tax problem. They even recommended some companies that could help us, and this became a game changer for us because we ended up getting a better tax software. It's all automated. It's not data entry in Excel. With this new tax software, we were able to successfully close the books and do the taxes, and it went great, and we saved lots of time. In fact, our operations team and accounting team now have to work less hours overtime. As a CIO, the biggest thing that I can do is create value for the business. You have to make sure that 100% of your projects are successful, and part of that success rate has to be selecting the right partners. If you don't get the right partners, you're not going to get the success. Rimini Street has proven that they're the right partner for Tidewater. Okay. Thank you, everybody. My name's Joe LiPari. I'm the global CIO for Rimini Street, and I'm very privileged today to be able to host and facilitate the client panel. What I'll do is I'll invite them all up one by one, and we'll start a dialogue going. But first of all, I thought it's really good that you can see the breadth and depth of the people we serve and the people we support very regularly. And you can see here that we've got clients from all around the world, and we support everything, even MongoDB databases. And you can see there that, as the previous speakers have alluded to, that we've got quite a large variety of customers globally. So I will start inviting some of our panelists. And if I could start off with Nobuo-san from Autobacs in Japan, in Tokyo. Nobuo-san, if you can come on stage. Thank you. Autobacs is something like a Pep Boys equivalent here in the USA. Thank you, Nobuo-san. Take a seat. Michael Butler from Fletcher Building in New Zealand. Hi, Mike. Ziv Cohen, who is representing the Israel Ministry of Defense. Thank you. Gauri Kapoor from Hitachi Vantara. Eric Liu from Malaysia from ACM. Jap van Riel from KnitWell. And finally, Todd Treonze from Catalyst Brands. Now, that was going to be my seat. So if you can just move up one mic. Everyone, just move over there. Got to get it right at the start. Okay. So today, you've heard a lot about the Rimini Smart Path and the three pillars: the optimize, support, optimize, and innovate. And you've also heard a lot about the agentic AI on ERP. Today's discussion, I thought, would be really good to reinforce some of those points from a customer perspective and get some real-world examples of how some of our customers are adopting the Rimini Smart Path and how they're also considering and using agentic AI on their ERP systems in their own corporations. I thought I'd kick off, firstly, with Mike Butler and Fletcher Building. Really, you've been using Rimini Street for a while, and I thought maybe if you could talk a bit about the support components that we've been doing with you and where the value is and how it's been able to facilitate some of your business objectives. Yeah. Thanks, Joe. Our relationship with Rimini Street started early 2023. We were looking to start a transformation program, and we wanted to make sure that our Oracle JDE environment continued to be supported as we went through that transformation program. In about June 2023, we signed with Rimini Street and got 50% savings automatically for our support. That was absolutely fantastic. From a relationship perspective, it's grown. We're looking at a Rimini Custom solution. We have legacy ERP within our environment that are still strategic assets for us, but our people are wanting to retire that support those environments. So the breadth of skill that Rimini Street has, they were able to bring that to the table, and we're now looking at a support service around that to be able to make sure we can keep using those strategic assets. Yeah. Thanks, Mike. I mean, those manufacturing assets, aged workforce, the systems keep going, but the people maybe not so much. It's a real issue in the manufacturing sector. Speaking of critical systems, etc., Gauri, Hitachi Vantara manage a lot of critical platforms. Probably if you could give us a bit of a view of the value that Rimini is providing with you and maybe a couple of examples. Yeah. Sure. Thank you for the question. I can talk about it for more than two minutes, but our journey with Rimini did not start with a digital transformation story like Michael. It was more around optimization. Truly, that was the fact. We were looking at what we currently had with the software vendor. We are on Oracle, and we looked at the value that we have. So that's where we started. So today, Rimini is just not, I'd say, a trusted partner for stable operations and reliable operations, but they have kind of, in the past two years, transitioned into an advisor. And I can say that, and we work with them on a daily basis. We started with a smaller footprint with Hitachi Vantara. We are a company that's multiple legal entities and multiple ERP instances. And very quickly, I think in about a year, Joe, we expanded to other legal entities. And this is the age where security and compliance is the first question. Business continuity is another big question. I know Gabe is laughing, but that's the biggest question I got asked when I was building the business case. And that's the question I still get. And until recently, two weeks ago, any of you are aware of the zero-day vulnerability that EBS had? We were getting questions left, right, and center all the way up from our mothership at Hitachi Limited from Japan, and I had to reach out to my trusted partners again, and I said, "Hey, I know what the answer is, but can we give more strategic advice to our leadership so that they understand the value of this relationship?", so as you can see, the Rimini support actually opened new doors for us into going into more optimization, more opportunities, and we talk about the savings, and I think you truly delivered to that, well, thanks. That's really good news, and probably just to expand upon it, Ziv, the Israeli Ministry of Defense, you can't get more mission-critical support on some of those systems. It'd probably be good to just expand a little bit on how you see Rimini Street has helped you not only support but save your operating costs. Then when you did, what did you do with the money? Well, got it back home. Thank you for the question. We have a lot of systems that we didn't need or wanted to upgrade, and yet we had to pay a lot of money to our vendors to keep and hold the system up and going. So by partnering with Rimini Street, we gain 70% off of the price that we needed to pay. And you can be sure that the systems are up and running and everything is functional correctly and precisely. What we did with the money? So the money went to investments in innovations of our core systems. The armies around the world have core systems and systems on the side, and we had to invest on AI functions or even innovations for systems to run on the cloud or on cloud platforms. And when we paid to our vendors to hold Oracle systems, for example, we didn't have more money to invest on the things that we had to invest. So the partnership did well. It's good to see it work. I probably just want to switch gear a little bit because we had also the third pillar of if you support and optimize, then it frees up money to innovate. But if you heard Seth's opening remarks, the world's a really tough place at the moment with tariffs, with a lot of competitors coming out of China and everything else. And I've got two retailers here at the end, and that's a real tough market. I thought, well, maybe starting off with you, Todd, because you've got the Brooks brands and all the other brands, what are your thoughts about keeping the core as it is and then innovating on the top? Because it is a tough market, and how's that helping you become competitive? It's a great question. So just for folks, Catalyst Brands is a $9 billion startup. So it's JCPenney, it's Aeropostale, Nautica, Lucky, Brooks Brothers, and Eddie Bauer. So brands that everybody knows, but no one would know that they're all together under this new umbrella that just started back in January of this year. And when I became a part of that company, former CIO of Brooks Brothers and Reebok, it was very interesting because I'd always wanted to work with Rimini Street but never had the opportunity in the past and inherited a renewal when I first came into the role. And that was one of the first deals that I did because I knew that the savings that had already been put in place there, and I saw opportunities to extend that relationship into some of the new brands that we were just bringing into the Catalyst portfolio. Eddie Bauer is a great example, running older Oracle technology, paying high support for it. So that was a no-brainer. The second we did the new deal, we merged that right in there. What we're doing with those savings is using those to build on top of what we have. We have a number of aging ERP platforms that we're going to be using as the systems of record, if you will, for transactions going forward, but really excited to hear about the new Agentic AI ERP and where that's going to take us because we have a lot of major shared service centers where we've got people. We have a lot of tasks that happen across 70,000 associates and 1,600 stores that require another level of automation, and without having that type of capability, you're going to continue to pay for those people, and I think that there's a real big future opportunity for us here to reinvest some of the savings we're seeing at that support level into the innovation side of the business in the coming periods. Yeah, that's a very good insight, and probably want to build upon it. I mean, a lot of companies face that dilemma of, well, will I get my innovation through the ERP upgrade, or will I just build on top of it? New contemporary thinking, as you've seen here today, suggests that we should build on top of it. But how do you go to boards and others and convince them that this way is a better way than the traditional way? And what's the value of an upgrade? Yeah. Thanks, Joe. A little bit of a similar story as Todd. So for everyone that doesn't know KnitWell, KnitWell is a private equity-owned portfolio company with eight apparel retail brands, brands like Ann Taylor, Loft, Talbots, Chico's, so all women's apparel that came together over the last five years or so through a number of acquisitions. So I have four or five of everything. I have four ERP systems. And part of our playbook when we acquire brands is to actually move it to Rimini Street as soon as possible. It saves us money from an operating point of view. It extends the life of the ERP system, and it frees up kind of our capital to do innovation elsewhere. And honestly, that's where, from an innovation point of view and an AI point of view, right now, we're more focused on other parts of the business than ERP. I'll get back to ERP in a second. But really, the opportunity around AI in a retail business is on the digital side of the business or the store experience for customers. That is where our initial focus on AI innovation has been. But I'm a big, big believer in what has been shared this morning around agentic AI for ERP. The time of ERP is over, right? And I was talking about it earlier in the morning with some of the Remedy folks that, in my mind, from a technology lens, an ERP platform is almost the perfect platform to put agentic AI on top of it. It is well-structured. The data underneath it is in place, is also well-structured. And it's all around kind of business rules. There is no easier use case to automate with agentic AI. So I'm a big believer, and I really hope I never have to upgrade an ERP in my life again. It's not good for my sleep, but it's not good for kind of the P&L either. Yeah, most of us have scars on our backs with ERPs, and I've done a few in my lifetime as well. But how do you go about convincing the board? Because a lot of them think that that was the panacea to all evils, that that was the only path available. Yeah. So I mean, in my experience working with boards, is that I mean, they're thinking about it from a risk-reward kind of point of view, right? And there is a lot of risk with upgrading ERPs. We all know the horror stories of spending millions, hundreds of millions of dollars and then disrupting the business for a number of quarters. That is a risky proposition, right? And the reward of not having to do that yet or delaying that and spending your capital elsewhere on growth and innovation is a really compelling kind of conversation with board members. In my mind, and the way I've worked with boards is also you can start into this for a couple of years, right? You can build the Rimini kind of relationships, and you can extend the life of your ERP for three years, and you can always go back. If then you figure out that it's not your path, you can always go back and do that upgrade. I think you won't go back, to be honest, but I think that is a good conversation to have with your board. It's not something that is not a decision that is irreversible. It will become irreversible once you learn how successful it is and the support you get from your Rimini partners, but I think it's good for boards to understand that this is not a kind of you throw it all overboard kind of strategy. You can start slowly and build from there. I suppose that builds a bit upon the point with you, Mike, when they started looking at the journey of SAP and then stopped, and now you've got options that you probably didn't have two, three years ago. Does that fit similar to what Ypê's saying? Yeah, definitely. Our business, Fletcher Building, it's a business like a PE. It's about 28-plus different businesses within it, and we've got about 18 different flavors of ERP, and we've got about 50 instances running. So it's quite diverse, and each one of those has a little ecosystem around it. So as you talk about the ability to be able to not have to upgrade, to be able to get more life out of that asset, and now with Agentic being able to have different options on the table to be able to solve business problems, it's definitely a great way to go. Yeah. And then similarly, Nobuo-san, you've got a great franchise, and you're trying to modernize, and you're trying to get more competitive and profitability. You've got an internal team with ServiceNow people, and you've been experimenting with Agentic AI and ServiceNow. Can you give us a bit of an insight into what advantages and what you've been doing? I'm not good at English here. Okay? Okay. I I try and read. Yeah. First, I speak English. Yeah. I'm interested in AI agent for ERP after your press release, yes. And it's not only reduced the cost but also enhanced the value of our company. Yes. It's very nice solutions. Yes. Okay. And can I speak Japanese? Okay. Please translate. はい。非常にアーキテクチャ的にもERP SAP 6.0をベースとして、その上にServiceNowのデジタルワークフローをかぶせることによって、非常に私たちのサービス効率、いわゆる仕事の効率が上がることになります。そうすることで私たちのビジネスの意思決定がマンスリーの意思決定からウィークリーの意思決定に変わっていくというふうに私は思っています。 Please translate. Yeah. So we optimize our architecture ERP. We're on SAP 6.0. And on top of that, we put in Rimini Street, and we use the digital workflow to achieve quite an increase in quality. Our service quality went up, and we also were able to change our monthly processing down to weekly. Yeah. Wow. So that was monthly to weekly. Monthly. Yes. Monthly to weekly. Yeah. And you optimized some of the business processes for allocations. でそれらのビジネスプロセスをあのもうオプティマイズすることができましたか。 今まさにオプティマイズをしている最中です。これは少し時間がかかりますけれども、必ず成し遂げたいと思っています。 We're still in the process of achieving the full optimization, but we know we will get there, and we're in the midpoint of that now. Yeah. Wow, that's great. Because I mean, I think it's a bit of a crawl, walk, run. People start going through it, learning, and then start getting more confidence, and then they just expand it more and more. Eric, you've been very advanced in the way you've been freeing yourself from the shackles of the ERP over the last couple of years. In fact, you're a bit of a vanguard to get into low code, no code, and then expanding into some of the agentic ERPs, AI for the ERPs. Can you give us a bit of an insight on your journey so far and how you found it to meet your objectives? Hello. I'm Eric. I'm actually from Penang, Malaysia. We are an OEM factory, manufacturer for semiconductor backend machines and also medical. Yeah, we have reaches over the Asia-Pacific and also Europe plants. So we have started SAP 20 years ago, and we have done several upgrades. And on 2017, we actually upgraded to S4 on-prem. And we've started to think, is that the direction we want to go? In the year where we were hit with COVID, that's where everybody started to think of their strategy. That's when Rimini Street actually approaches us and told us that we have an option. That comes at the right time. We actually have a very robust system running for 20 years. There hasn't been much changes. What we are looking at is not changing the ERP itself, but changing on top of it. The innovation layer has to be very agile and with minimum resources, and we can generate application with very short time to value. During that time, what we did was we stopped SAP maintenance. We go on board, and that is on Rimini support. That's the first pillar. The second pillar, we actually optimized the systems with Rimini Consult that we actually brought our system to be e-invoice enabled. That was the military for Malaysia last year. So we did that. And with the innovation layer in place a few years ago, about three years ago, we started to develop a lot of apps on top of it, right? It has streamlined the way we do things, yeah, like what ServiceNow is doing. But what we are doing is we are able to create our own applications. We service different industries. We service different customers. We are able to create bespoke solutions for our customers. Just imagine the system where I've not been writing programs for 20 years. Yeah, I'm able to create solutions. That's how easy it is and how quick it is. Now, after that, it is very natural that with that platform or with any other platform on this, we can actually add on the agentic side of it where we used to have deterministic programming. Now we have probabilistic and dynamic kind of decision-making. So I think that changes a lot. Today, the last few days, I've learned that this process has a name. It's Rimini Smart Path. Yeah. Okay. Yeah, no, that's good. And in fact, the evolution of AI, and you think about ChatGPT, only came out about 18 months, two years ago, and people were still wondering what to do with it apart from asking questions. Where do you see it heading? Because the rate of change that this is going is far, far greater than other changes in the technology industry. And so if you had to look out another year, where do you see your company going and investing in this? And this is for most of the panel, just not just Eric. Where do you see it going? Are companies going to invest further in there, which is question number one? If they don't, what happens? If they take the alternative path? Oh, can I? Can I? I? Yeah, yeah, yeah, sure, Eric. Then I'll move to, yeah, yeah. I'm always very excited talking about Agentic. So when ChatGPT came out about three years ago, everybody gets to experience it. But for organization, that is on a very surface. So what we have now is actually machine cognitive, which you can actually apply to your existing application. Now, that says a lot. What we are looking forward to is to automate processes, which are quite incredible to automate because it's very dynamic in nature, the decision-making. So we are able to orchestrate different agents to do specific tasks at this point. I don't think this is a hype. It is going to continue. We are working on a supply chain agentic flow, and it's creating value for us at this moment. Wow. Yup. Yeah. It's actually nice to build on this because I agree. There's a tremendous opportunity to automate anywhere in the business. But I think the real opportunity is going to be to really transform entire business models, right? And I think we're all trying to still figure that out. Most of the effort at the moment is automating or augmenting kind of our current workflows and processes, kind of the way we're working today. But it's going to change. We're going to work entirely different. And similar to the dot-com kind of change, right? Entirely new business models, engagement models, businesses will kind of grow out of this. Where we are, I mean, it's early days, but we are kind of starting to use AI literally in every part of the business. So from product design, where designers used to kind of use an application to kind of have the inspiration from the runway and from competitors and throw new products. We're using AI for that. In marketing and customer outreach, generating marketing content, AI can do it much more efficiently than our manual teams. In the inventory space, if it is around allocation or there's real opportunities. In store and store engagement, we have a lot of clientele and capabilities and outreach to customers. We can do that now in a much more personalized and high-volume way. So literally, every part of the business will be impacted. And to get back to your original question, if you're not, you become irrelevant, right? For me, that's not a question. Yeah. Well, there was a slide that Vijay put up, which was about time to market, time to value. And so you probably could argue that you would get those functionality and innovations at the end of an ERP, but you'd have to wait longer than what you're doing now as the alternative path. Do you subscribe to that view? Yeah? Gauri? I do. And it's happening so fast that it's happening as I speak. So we just kicked for the past many years, Hitachi as a company and Hitachi Vantara has been trying to make a decision to consolidate ERPs. We're in a similar situation, multiple instances. We've had consulting companies like Deloitte come in, do and spend $1 million, do an evaluation, and all that stays in slide decks because we can't convince our board that we need that $50 million to do that upgrade and that consolidation. Here we are again. I just kicked off the same evaluation yesterday. Yesterday. But with the caveat and having those conversations so fast with our CFO saying, "We can do this assessment. It's fine. It's still going to stay in slide decks. But what do you think about?" And I'm going to bring this message home to what Rimini brings to the table is that white paper. So I read that white paper. I shared it with the enterprise architects on my team. And I said, "I need you guys to read this. We're going to have a discussion." And two days later, I'm having a discussion with our CFO. And he's nodding his head. And we're talking about MCP servers and how can we build it. And I'm like, "I'm going to have Rimini come in come January, and we're going to do a brainstorming session." And that's the advisory. And that's the experience that you bring. I'm trying to bring the message to Rimini here. But from one part where I've kicked off a hundreds of thousands of dollars project, I am going to spend that money, but I know where it's actually headed. Yeah. Are you going to build on that or? No, no. Todd, I mean, you've got an enviable task that most CIOs have had, including myself, and that is you get multiple ERPs. You do mergers and acquisitions. You've got to consolidate. You've got to bring it all together. And that costs money. And at the same time, you've got to get that competitive advantage, probably to compete against Yelp in the same market and stores. So how does this strategy really play out for you? Because you're the man in the hot seat that's got to deliver this. Yeah. So it's an interesting dialogue that we've been having because we have a lot of sunk costs in these ERP systems, right? You paid for these licenses 10 years ago, 15 years ago. And we've found that way from a support perspective, partnered with Rimini to get the current cost structure down. But you mentioned the tariffs before. It's been a whirlwind this year. We've been trying to stay ahead of that because a lot of our cost is in our product, in the inventory that we buy, that we end up selling to the customers. So from an IT perspective, we've been asked to find synergies wherever we can, right? We had five brands come together with one really big brand. And we've been going through a lot of our portfolios. We were going to do an ERP evaluation. We paused it. We think we're good with what we have. But what goes on top of that is how can we leverage what we have and get the automation and get more benefits, get the next level of benefits? So that's where we are really excited about AI and what that can do for us in that space while we're making the investments that Ypê spoke about, right? I mean, we're putting all of the money that we save into customer experience, into additional acquisitions, into those areas, right? The digital marketplaces and things of that nature. We do a lot of wholesale as well. We sell our product into other department stores for the specialty brands that we own. So we're focused in that space. We're focused on growing our business in areas like uniforms. It's public knowledge. Brooks Brothers did a huge deal with United Airlines where we are uniforming all of their flight attendants, their stewardesses, and their pilots. So we're looking for growth avenues to get into new spaces. And we're funding those by the savings we're getting out of our contextual ERP systems that you need to have something there to run your ledger and to run those things that you need to close your books and everything. But we're really looking to stay with what we have and build on top of that with additional automation. Yeah. It's an interesting point because if you logically take the discussion we've been having today about you're building more and more outside of the ERP, you're keeping it, you're sweating the asset, you're keeping all the customizations. It's supported till 2040. So therefore, the opportunity cost of capital now is towards those things to be more competitive and take cost out. There is a school of thought, though, that says that if you keep going along this path, then the ERP shrinks and it gets smaller and smaller because you're building more of these processes outside. And over five years, it becomes like a transactional database. I'd just like to ask the panel, what are your thoughts on that? Because that's one of the headwinds about ERP slowly diminishing and decomposing. So who would like to comment a bit on that? Yeah. I'll go Mike first, and then I'll go to you. Yeah. There's a couple of points in there, I think, and a bit of it on what Ypê said before and also Seth has mentioned. I think the future business models and what's going to be there is going to you really got to question what are you in the business of and where do you need to differentiate if it's not differentiating. So these ERP and what you want to actually differentiate from an ERP perspective, the processes are tried and true. They've been running for more than 30 years. Do you really need to differentiate in that? So your actual investment needs to go into new areas that are there that are your differentiator as a business. And that'll change business by business on what you're going into. I think some of the challenges we're going to have around that is the resources not being there to be able to sustain the models. So how do we automate a lot more to be able to do that? Also, the control frameworks, I think, are going to hold us back. And what I mean by that is that there's certain ways and certain roles that need to do certain things to be able to get your risk and assurance, etc., done. I think they'll get challenged because we'll be able to do things differently. So we're going to have to work out ways to better solve for those control frameworks. But yeah, I certainly do believe that we will put the ERP into a certain bucket and do that differentiation between what is your business trying to achieve versus the processes and systems you need to be able to support that. Yeah. On your question on what is left of ERP over time, conceptually, if you think about the ERP platforms, in my mind, it's data, it's business roles, and then it's transactions or user experience on top of that. The experience and the business roles will be AI, will be agentic AI. So you're left with the data. And it needs a place. And it will continue to run that data very well for many years to come. But in my vision, and I think what you guys share as well from a Rimini vision point of view, which I totally buy into, is that, yeah, you're left with kind of the data component of an ERP. The other components will eventually be moved elsewhere. Joe, can I add to this? So one of the challenges as IT executives we have is the time it takes to deliver on all these IT projects, right? You start with requirements, and by the time you deliver, it's stale. With AI, we've kind of broken that mold. Now, things can be built quickly. We can deliver fast, which means that these uber applications like ERPs, which are a money suck, they really need to go away because they kill the agility. They kill the speed. I mean, you talk about an upgrade. It takes at least two to three years depending on the scope and scale. But if transformation is the new norm and AI is going to drive new and fast delivery, systems like ERP are going to die a natural death. They'll become a database. And on top of this, you will make a lot of AI extractions. And this is how it's going to work. It really begs the question that you've broken the shackles and now you're independent to achieve your own strategy without having the anchor of the old traditional forced upgrades. And Eric, you're a vanguard. And what's your view? Because you've got a fairly specific strategy in mind where you're heading. I can tell you, now that I think of it, I've actually forgotten that I have an ERP in the background. Because the first thing is, yeah, I've got peace of mind that it's going to be maintained for the next decade or so. That's one thing, and then it has been functioning well. I've been concentrating most of my thinking or my strategy on how to improve the business. I think that is the most important thing, so Ms. Gauri actually talked about time to, yeah, the delivery. And we are able to actually deliver solutions and how we want to do it because it's done in-house and it's done in a very fast way. And we are very excited over the agentic side of it because it's going to, as you know, it, it's going to change how RPA works. It becomes more intelligent. It's going to change how OCR is done, yeah, invoice matching and all those things. That's all going to change, yeah. I see a lot of potential in that. Yeah. And it's probably there's a bit of in-house expertise that you've generated in this to try and work through it. How's that working? Because you do need a bit of both. Okay. You guys have heard about Vibe Coding where you can just describe something and then the application magically comes out. That, I think, is still a hype for now because you need to have very specific things, decisions being made, or rules for application. Now, what the platform that you can get is you are no longer focusing on the language, programming language that you want to use, your database. There are a lot of security. That is being automated. Yeah. And what we are doing now is we are focusing on the things that matter to the company. Yeah. So I told you that I've not been writing programs for 20 years. I've started to develop. So we are focusing more on the flow of the program, the logic, yeah, how we handle connectivities and all that. So that's the new way of concentration for all. Yeah. And it's probably a good one to build on with Nobuo in that you have had your ServiceNow team working on this. And how quick and fast were your developments that you did? まず、我々が考えたのは、ERPは別に悪いシステムではないと思っています。 We didn't think that the ERP system was bad. That was not our thought process. ただ、ERPに投資するというのは少し問題があると思っていました。 But going through the ERP created issues for us. かといって、私たちの仕事の仕方をモダナイズしないというのはあり得ないと思っています。 We knew we were going to have to modernize the way we worked. それで、私たちはERPをベースとしたServiceNowと組み合わせて、より仕事の効率を高めようとしています。 So we work using ERP and SAP, and we improve our efficiencies in our workforce. ラッキーなことに、私たちにはServiceNowの技術者が、優れた技術者が存在していますので、彼らを使おうと思ったわけです。 And we had the ServiceNow staff and expertise in-house, so we were able to leverage them. Yeah. And how quick was it? どのぐらいの速さでできた? まず、ServiceNowを使うとAIを使ったインターフェースというものはおそらく考えられないぐらい早くできるんですけれども、3日から1週間ぐらいで私たちの期待するものができます。あとはERPとどう連携させるかというだけが問題になってきます。 So with ServiceNow, we were able to do it with three days to about a week is that we saw the results. And then the next step was, all right, now how do we interface with the ERP based on that? だから、ERPとつなぐところは多少時間がかかりますけれども、UIを作るであるとかAIを使うということに関しては非常に効率的なプロダクトだと私は思っていますし、それを御社のサービスの上で動いているERP、ECC6と組み合わせることでより企業の価値が高まるというふうに考えています。 But the quality was increased dramatically by working with you guys. We were able to cut down that interface with the ERP tremendously and leverage your AI products to be able to change the process time from weeks to days. Wow. It sounds like very quick at the front end, but then you've got to do a bit of work at the back end at the ERP. The knowledge of the ERP, and I think it was Seth and a couple of the previous speakers said, you've got to know ERP just as well. That probably builds me to you, Ziv, because we've been supporting IMOD for a while and really critical, and we've obviously gained a lot of knowledge on your systems. Does that put Rimini Street in a better position to then do the innovations on top of the support that we've been providing for years? As you said, we have a long journey since we started. Rimini's personnel are integrated in the organization. They are part of the organization people. They know everything from the information side of view and from the technology side of view. That brings us the capability to upgrade the systems as we want and also to put AI factors above all the information and the systems that we have already. So from that point of view, I would say that we are sure that we can make this change that we need to do with Rimini Street's people. Yeah. It seems like the Rimini Street SmartPath that you've all been following, whether it's been called SmartPath or not, is you've started from the support, the optimize, and now you're going into the innovation stage. And that the pedigree of understanding the ERP support has lent itself well to move to the optimize and innovation. The $64 question, though, is, is this just a hype, or do you think that corporations are going to continue to spend money in this area, in this agentic AI, ERP, or is it just a fad? It's not a fad. It's not a fad? It's going to come. Yeah. It's already here, and it's going to stay. And more and more of your budgets, will they start being put into this? Definitely. We have to. Yes. Absolutely. Yes. We're significantly increasing budgets for 2026 around innovation. And we're creating new roles, right, because it's a different skill set that understands this and understands how to deploy it. So there's also the people side of it that we're investing in as well. Yeah. I think there's still just a little bit of caution in there. It is a journey, though. It's not going to happen overnight. I think we are learning as we go through and do this. How do the operating models need to work? What happens when a model changes, and how do we test for that and make sure we're getting good results out? So there's still an operating model element that we're working through, but it's very exciting, the opportunity that is there. And it's real. We are seeing it. Yeah. It seems like the acceleration of change, it gets better and better. And then, obviously, boards, management are all expecting us to keep innovating outside, and speed to market is critical. So it seems like your experience is reiterating that. Joe, one more thing. I think Rimini SmartPath plus Rimini Protect for us, security compliance is really, for all of us, is really important. I think the value that you add is a combination of that, in my experience. I think we'll have to cash in on that. As we are all learning, I don't think we can do it by ourselves. The skill set, the capabilities, there's going to be a lot of co-creation with partners like Rimini Street and ServiceNow and Workday. It's not going to be just one partnership, but it's going to be a multi-partnership. I think the value is Rimini Street and Rimini SmartPath and Rimini Protect together. Yeah. Look, we've hit the time. I know we could go on for a little bit longer and get a bit more in depth, but in respect of the timetable and the other guests, I'd like to thank you all for giving up your time, giving us frank, open conversations and examples, and wish you all the best on the journeys that we are both going to embark on in the future. Thank you very much for your participation. Thank you, Joe. Come off this left. I know that. How are we doing now? All right. Welcome, everybody. Thank you for coming. Both those of you folks in the room, those of you folks online, we really appreciate your attendance today. I'm the one that gets to bring it all together and wrap a bow on this. And I do need a clicker, which I don't think I have. I haven't completely memorized the presentation. Could I get a clicker, anyone? A raise? Thank you, sir. All right. Act One, as Seth outlined earlier, over the last 20 years, and it dawned on me when we put together Act One. I've been around for 25% of the first act and had the most fun in the last five years. But that lays the foundation on Act Two, which obviously you heard today through all my cohorts and our clients. Thank you so much for joining us and you folks joining us to hear about this. It's a really exciting time for us. It's going to be different. Just for the uninitiated, right? This is who we are. This is what has happened, our CAGR over that last five-year period. Some of the metrics, what we do. Also on the right, our distribution, which I think some folks have spoken to by industry, our revenue split. And then also, we are a larger business, rest of the world than the United States, but stay tuned on that one. Staying on, these are the GAAP numbers. What Act One, some metrics, some key metrics. We have that CAGR again, last five years for revenue on the top left, on the top right, billings, what the CAGR has been. Bottom left, our ARR, bottom right, RPO. One item I'd like to call out from our last quarter. We did have an all-time record. This is overall combined, the $611 million. Now, also, of note, those of you that follow us closely, we usually have our highest point on our RPO in Q4. This record did occur and record in history at the end of Q3. Now getting to some metrics that are critical with excluding PeopleSoft that we have given more and more as we've been reporting since we announced we are exiting PeopleSoft Q2, Q3-ish of 2024. We had a subsequent event of a confidential settlement as well. However, taking a look at the revenue growth, Q3 was 2.5% versus the previous year, excluding the revenue from PeopleSoft. I want to note that Q4 2024 last year, we adjusted on that one-time $5.4 million out. So you're going to have your forthcoming comparison soon as we report there. Billings, in the last quarter, the $64 million, quarter over quarter, excluding PeopleSoft, 6.7% growth there. Now, as you can see the trend, the large Q4 of 2024, as you folks know, following our cash flow as well, we have our largest invoicing in the fourth quarter of the year. ARR on the bottom corner, bottom left, and on the right, that RPO number yet again. This is excluding the PeopleSoft. That was up Q3, 9.3%, also a record again. Our backlog highest trending is our highest number is at the end of the year, but we achieved that record Q3. The Rimini SmartPath, we've been talking about this a lot. We're really excited about this. But we've not shared with you previously our Optimize that we unveiled right about five years ago. That's 13% of our business. As you know, core support, and this is on a trailing 12-month basis as of Q3. Core support is our core offering on supporting ERP systems, the foundation of Act One. The Optimize includes the managed services and the professional services. That is 13% combined of our business. Not one of those components, managed services or professional services, is yet over 10% itself. Now, this is laying the foundation for the innovation pillar that we're really excited about and the market is excited about. Here are our key financial priorities operationally, product service mix optimization. You'll see more about this in the forthcoming slides. Growing our RPO. I highlighted that. That's a very important figure, obviously, for the large annuity for our business, expanding the client base and the value of lower churn, higher retention. Cost rationalization. I think Mr. Herskowitz earlier has said that we're going to attack these markets and the innovation pillar, and it's not needed incrementally from what we're going to be discussing about in our 2026 outlook. Our financial priorities, our resource cost allocation, focusing on bottom-line leverage. Cash flow and capital return, if that's of interest to anybody in the room here, and our lower cost of capital/borrowing, etc., and optimizing our tax structure. Our outlook. Obligatory to lay the foundation as we talk about 2026 and beyond. Here's what we see for the fourth quarter, $104-$106 in revs, adjusted EBITDA in the $10-$13 million range. You folks will do the math putting that together where we're likely to end up in 2025. Looking at 2026, we see, and this is a GAAP profile including PeopleSoft, revenue growth in the mid-single digits, the low 60% on the gross margin, mid-30s on the sales and marketing, mid-teens on the G&A. Again, this is GAAP with PeopleSoft, also without adjustments. When the adjustments are taken out, and you'll see that in a moment, we see the mid-teens, bottom-line adjusted EBITDA. Confirming that, and this is our focus, key finance priority, key corporate objective of 90% operating cash flow conversion on this. And that gets us halfway. We're talking about 2026 to the rule of 40 with a bottom-line weighting. Now, laying out our trailing 12 months, how we have performed, these are excluding the adjustments, mainly stock-based compensation to get us to the adjusted EBITDA. Here's breaking out how that guide works and/or outlook for 2026. Now, looking to the far right column, what do we see the model at scale? And before the question is, we get the question, this is well before $1 billion in revenue. We can achieve this scale well before that with executing on the strategy that we've outlined today. This is how we see ourselves getting to the rule of 40. The 10-15 on the top line, 20-25 on the bottom line, and again, this is at scale, well before a billion in revenue. Now, one item I'd like to call out, that litigation spend trailing 12 months. You don't see it in 2026 when we're talking on the outlook. That is going to be in the G&A guidance. There is not going to be a litigation line. As we know, that was rather long, but one-time non-recurring, and we're not in litigation anymore. You're not going to see us talking about litigation. This is something we and I are very proud of. I'm going to tie it back to where we disclosed 13% of our revenue trailing 12 months coming from the Optimize pillar, managed services and professional services, our diversification. Trailing 12 months on a non-GAAP basis, gross margin 61.7%, largely unchanged where we were predominantly a support, very high margin, 61.4% in 2020. During that period, the Optimize pillar has grown, compounded 45%. We do know that those are lower margin offerings than our core support by a long shot. Moreover, when you're entering to a new business unit or line of business, you historically have lower margins. However, five years later, with this diversification due to our operational excellence, what's been happening behind the scenes that we don't talk a whole lot about to you folks or externally, a lot of work behind the scenes. What are we doing? We're practicing what we preach. We didn't have to put in a brand new system. We have aging systems, but they work well. What's the value? The value is the data. I want to have a call out. I told him, "Mr. McElroy, there he is." The individual with the interesting accent and the beard that you saw earlier running delivery. He and I, with our team and with our data team as well, two times a week, are looking at our clients, are looking at our resources, looking how to optimize so we perform to maintain our client satisfaction, as well as we're allocating resources to look at our margin on a client, a line of business perspective. Then we have the data folks how we're continually trying to get more data for our unit economics so we can understand. And what do we have? We have a database of our price and discovery, our delivery, and can help us price appropriately and win the right business going forward. I couldn't be more proud of what we have done here. Now, what is this? Why is this relevant? This is laying the foundation where I'm telling you, as we see our mix continuing, there's the 87.13% in the trailing 12 months, how we see this mix in the future at scale or so in the next several years, where we see ourselves having a quarter to a third of the business with the other value-added services, which includes the Optimize and the Innovation pillar. We're going to continue our operational excellence. The Innovation pillar I see is a higher margin than the Optimize pillar, but we're going to apply our success that we have had in maintaining our gross margin with those lower margin new lines of business and offerings. We're going to apply this on the Innovation, a higher margin. That's why we're setting a target in the mid-60s% for our overall gross margin. What I'm saying is the foundation that we have proven that we can deliver the operational excellence in those difficult areas, and we're going to translate that to the innovate pillar. The Rimini SmartPath. We've been talking a lot about that today. And what you folks have been aware of when we've been speaking to the financial community on the indirect model, where there is leading with our partners on putting innovation on the top. And we have the engagement. We put it in. We know ERP better than anybody else. We manage that innovation layer. And then it's paid for. You have to get on the Rimini support. Why? Because the economics are compelling. It'll pay for it. You can do it quicker. And also, through this strategy, you're going to leapfrog SaaS. And you're not going to need that upgrade. We heard it from the panelists, right? This is how much faster you invest and you actually achieve the innovation. But what's new today? You heard Vijay speaking earlier, and we had the announcement of our Agentic UX platform. We can do it ourselves, and we're going to do it ourselves as well, because not one size fits all. We have a direct selling opportunity to where we land first with our core support, highest margin. We optimize, and then we deliver the innovation. You can do it in pieces. Not one size fits all, but we can do this directly. We have the capabilities. You heard earlier, did it in 30 days for a client of ours that they couldn't do for who knows how long. It's a different economics. It's an entity in a different stage, both itself, its industry, etc. Not one size fits all, but we're going to attack it from both. That's what's new today. That's the opportunity. There's a whole ecosystem being built out there. But as you heard and Seth has said, nobody knows this ERP stuff. Nobody can make it work better than us. That's what we're going to be leveraging. And what is the ultimate economic benefit of this? All of us in the room and the shareholders, they are on the far right. If you're skipping the SaaS layer, you're going to have increased retention. And we're going to have a greater base each and every year as we penetrate further to grow and increase our growth rate. That is the key in the core of the value creation. A word on capital allocation. This is what we've top line. This is what we've repaid in borrowing since I've been here. That was a refinance of the prep. Fundamentally, it's a debt instrument and what we've repaid. Again, those uninitiated to Rimini Street and/or new to the story, we're not a heavy CapEx business, as you see here. However, as you see the Innovation pillar, we may have some more of that as we're focusing on building our software offerings and/or apps that will be coming up, driven by our innovation efforts and our solutions and/or apps that we're creating around these excellent models that are out there that are truly changing things. Share repurchases. This is trailing 12 months. In the far right column, the 3.8 million is what we did in the calendar third quarter. We had the announcement of the incremental in the calendar fourth quarter. We'll be able to do the metrics once we come out with our fourth quarter. Obviously, comparing this to our operating cash flow. And that's a key area that we're looking at for our approach as we're talking about here on the bottom right. Utilize our cash and excess liquidity for share repurchases. We extended our program recently. You folks know the parameters tied to our credit facility, but this is an area that we are obviously continually evaluating. Obviously, subject to market conditions, MNPI, probably should spell that out, material nonpublic information. It's common acronym in this room, of course. And really, how we're looking at this at its core at this time, offset the dilution from the SBC stock-based compensation, stabilize the share count. We get a lot of questions. I'd like to take the opportunity to have the folks in the room at this full day. We do have net operating loss carry forwards in the U.S. as of our last tax return of the $150 million. A lot of folks think, "Okay, why do you have your tax provision when you're pre-tax? You can just offset." Well, this is U.S.-based. As you folks know, we talked about previously, over half of our businesses internationally is profitable operations, etc., etc. We also, because of the U.S. tax law structure, we do have transaction taxes, and we're looking on improving this through new strategies moving to multinational from our historical export operating model, where we're not able to use those credits until we expire the NOLs. And also, in the U.S., from a profitability standpoint, it's where it's a U.S., the litigation compliance costs are housed there. Nonetheless, putting all that together, we're targeting a long-term effective tax rate of the 25% as I indicated restructuring and looking at becoming a multinational operating behind-the-scenes structure versus an export structure. FX. The message here, we do transact, even though we have 47% trailing 12 months rest of the world, we do transact 52% in the U.S. dollars. We do have two fully integrated international operating subsidiaries in Brazil and Japan. We don't have much FX exposure there, but that gives us to our top line exposure just there. That's why we don't have tremendous fluctuations, but we do have natural hedge with the rest of our operations. Bottom line, the message, we don't have significant material FX exposure if we do have currency fluctuations moving forward, and we also have an arbitrage fellow as our treasurer there that can do some creative things now with forwards and such. So just put them on notice. To summarize our day and something that you didn't hear a lot about today, and that's just about the best news. We have an undistracted focus on the business because that long, drawn-out, very expensive dispute with Oracle is behind us. And I can tell you folks, as I said previously, a quarter of the Rimini Street act one I've spent here. And there are a lot of business decisions that we had to think of. And in some unfortunate cases, think of litigation first versus creating value and doing it right for our clients and ultimately our shareholders. That's behind us. I can't even tell you how liberating that is. That's a key element. That's what's different in no uncertain terms. And what is exciting where we get up every day and we don't even talk about this. We're going to have a continued disciplined capital allocation, as I described previously, and this operational excellence behind the scenes that we have done on the Optimize pillar. We're going to continue it. It's exciting on the Innovation pillar, where I think is going to give us even better returns and also value creation. Ultimately, what's that going to lead to? Expanding margins and increasing growth. We couldn't be more excited about it. It's such an interesting time in H2, the market opportunity where you're doing it ourselves internally. We're conveying this to the shareholders, I'm sorry, clients, either directly or indirectly through our partnerships. It couldn't be a more exciting time. That's all I have. Thank you very much, and we'll transition to Q&A. Yeah. There we go. All right, guys. Some Q&A now. For those of you who haven't had a chance to ask anything, why don't we go ahead and open it up? Rich. Kind of an obvious question, but with the litigation put behind, what changes are you seeing in either market perceptions, client conversations? It's a headwind we don't know how to evaluate. Just sort of curious your own early input for that. Well, we were never really able to evaluate it over all the years that we had the headwinds, and we built the business against it. We always suspected we would have grown a lot faster, and we would have had a lot bigger global footprint had we not had the litigation. My sense is that we're seeing real points of fact that are coming in a post-litigation world. We have partnerships that are happening that would not have happened a year ago. That's going to provide additional leverage beyond our own sales team, beyond our own marketing, and without costing us money. We have signed deals with customers that I am convinced would never have happened a year ago, so there are proof points that there is activity that is picking up across all of it. You saw Dave Rowe talk about the increased positioning on the website, the volumes that we're seeing, the pipelines, all of it moving in a direction that I think has been moving in a positive direction, even under litigation, but now is accelerating because we don't have those restrictions, and as Michael said, we had to make some decisions even for the shareholder perspective. We couldn't do shareholder return. We couldn't really buy back stock because we were always having to focus on what we would need for the litigation. So I think every part of our business is going to be affected by the changes of the reality that we're under. And you add that to the Agentic world and all the points that I laid out earlier in my presentation, and I think you've got a combination for acceleration. Brian. Thanks. Great. Thanks. Brian Kenslinger from Alliance Global Partners. A lot of great information. You laid out the client revenue roadmap for the ServiceNow partnership, starting with 26 pilots. How should investors think about the time to completion for these, the time to get them into production, and then are any customers in production? And then I have one follow-up. Yes. Customers are in production. We've got a case study out on the website if you wanted to follow it with Ipsen Pharmaceutical, where, again, we took the pharmaceutical assembly line, the manufacturing, and we've automated over 70% of it. So that's been out and live for a long time. We have other customers that are just getting implemented of the 26. We expect to complete the 26 by the end of the year and have those at least through the POC. And many of them, I expect, will move into production early into Q1. So this does move very fast. That's what we said. We're measuring now in weeks and a couple of months versus the kind of production schedules that used to take years. So we are going to be on a faster cycle. That will, of course, be in a position. The plan is we in ServiceNow will go out with the 26 proof points because now we'll have real examples, and we'll put that into a book. It'll go out to their 7,000 sellers around the world. And as you heard, when we go out with ServiceNow or any of our other partners, we create budget so that they can sell licenses and they can sell their services. It's symbiotic all the way across. So yes, the leverage we expect to have, and we expect it to be accretive in 26, that it will be material, we believe. Great. The follow-up about that would be the opportunity with existing customers. I don't know. Maybe it's 20%-25% upsell on your price. That's my estimate, not yours. What does ServiceNow need to see to go introduce you to the largest of their customers? That's A. And then the other question I was going to ask was, when is a reasonable sales cycle and expectation for those to start to revenue? Are we 18 months away? Are we 12 months away? Just maybe if you could frame that, that would be helpful. Well, I think the way that we've laid this out where you want to, of course, whenever we roll out a new product, you got to get customers who are using it. You have proof points. Then you're able to take that out and start growing. One becomes two. Two becomes four. I think we're going to have an explosive level of growth even starting in the first quarter. Because once you show people exactly what it is, and as you heard from the clients today, we are not seeing resistance to the vision at all. Interestingly enough, even from people who are die-hard software vendor folks, they're out there wearing the shirts with the logos of the software vendor, and yet they're stumped because they can't sell the value, they can't sell the cost of going down the vendor's path when there's a better path for the organization or the government agency. So yes, I think you're going to see it be accretive as early as Q1. I don't think this is we took a year with ServiceNow to figure out how do you make this technology work and how do we implement it? How do you build a model around it? And we took, and it's really we did it in a year on a global basis. Look at the customers we have, and across that 26, it is all global. So we took this out globally, and we built the infrastructure to support it. So yes, we are prepared to move very quickly in Q1. Alex. Yeah. Hey, guys. Thank you. Thanks, guys. Yeah. I'm Alex Furman with Lucid Capital Markets. Wanted to ask about some of the initial projections you put on the screen there for 26 and longer term. Obviously, really impressive, the projection that you're going to be getting back to GAAP revenue growth in 2026. How do you kind of get to the next step of that double-digit longer-term growth? Are there additional investments or processes that you need to develop here, or is that kind of just the natural evolution of your sales cycle playing itself out based on what's currently in the funnel? I think it's playing itself out. We all know revenue is slow to go down and slow to go back up because we're on a ratable basis on our subscriptions. So it's going to take us a while to get the revenue. This is why we're so focused on bookings. You saw us focusing on the commitments that customers are making and the fact that we have record backlogs that are fully committed, non-cancelable. These are the indicators that will transition eventually, obviously, to revenue. So I think that's where we're focused on. Revenue will sort of take care of itself. That's why you see sort of the mid-single digits, but that's a return to growth in 2026. And then we would expect to see acceleration as that revenue gets generated over time. That's great. Thanks, Seth. Front table here. Or Cowan. Yes. There you go. There we are. Hi, Seth. Mike, first, thanks for having us all out here. Great hearing from the team. Thanks for coming. You guys. I just want to dig into the 10%-15% future revenue growth guidance. Can you talk about some of the assumptions underlying that, and then maybe comment on the ServiceNow partnership, VMware, and maybe go into some of the federal government opportunity? Thank you. And you laid it all out. And again, I can't stress it enough. The opportunity, why we're excited about, why we're building our confidence to get there in the momentum is our direct selling efforts to empower, not empower, but provide to our salesforce to get to the innovation pillar and start to drive that revenue. You saw where we gave you a future look at how we see the mix playing out. Certainly, the innovation piece will be a driver. However, the core foundation is the increased retention. As folks are just leapfrogging the SaaS layer to get to quicker innovation, that's going to be a key driver to get. If we didn't have our retention where it is today, we probably would be in the double digits already next year. So that's going to be a key core foundation. So we get the retention right. We're having reasonable success can get you to the lower end of that growth range. As we execute on all of these initiatives, right, we heard from Steve talking about building the practice with the financial sponsors, right, talking about the government as you were asking the question about. That's what gets us to the 15%. And then, of course, where we're focused is the bias on the bottom line to get a different path on this rule of 40. Yeah. But then we get to the partners. We've signed so many new partner agreements over the last year. Now, it's really important to recognize that even though we're a $400 million company, you would have expected we'd have a much more mature partner and alliances program and channels at this size. But you have to look at the unusual situation we were in with litigation for all these years. People didn't want to sign partners with us publicly. We'd meet them in back rooms to do deals for customers, but they didn't want to put their logo and ours next to each other on a website because we were a company that was in litigation. That has changed dramatically now. And because of that change, we are able to get the kind of leverage that you would expect at this size. So we're building out a partner program years behind where you would expect at our size. So we're maturing it very quickly, but we're adding partners. We're building out the infrastructure on a global basis to really drive leverage. We recognize we've got 70-80 sellers. That's great. But if you look at the cost and what we're spending on it, we have to get more leverage out of the spend. And that's where we're going to be doing it through the partners. And there are thousands of sellers out there. Jeff. Great. Thanks. Hey, guys. Hopefully, you can hear me. Congrats on Oracle. It's great not to spend half the day on Oracle and complete darn near complete vindication. So fantastic. Thank you. Thank you. I want to spend a second on the core third-party support business. If you look at that business, retention has declined over the last two years. And Michael, you just talked about it. Maybe expand on what's going on in that core business that's still delivered the declining retention. I get why it's going to improve going forward, but just talk a bit about what's going on there in terms of retention. And then in the '26 guide, in terms of what's implicit there for the third-party support, again, the base business, are you assuming it grows in there? And if so, how much? Yeah. So two things. One, the downward trend we had over the last couple of years relative to the retention, a lot of churn in the customer base, a lot of churn with technology. And because the technology was churning and we didn't have the Agentic opportunities at that point, a lot of the customers that did churned were thinking they need to go do something else. And so that was an area where we didn't have an answer to stay with Rimini, as they were making and going through those changes. As you heard from the customers today, we have a vision, a path. Now we have a technical path that allows customers to stay where they are, get all this new technology without having to do these changes. So I think that the Agentic AI is going to play more than a role in just new accretive sales. This is why we kept talking about the retention aspect of it is I don't need to go do something else because I can stay where I'm at, and I can put these new layers on top, and Rimini's going to do it all. This is what's going to drive more of what our core business, the support business. This is, guys, this is a roughly 70% margin business that we're able to drive. You've got professional services, as you know, tends to be in the 40%-50%. The world of managed service tends to be in the 20%-30% type numbers. As Michael was laying out, we have different groups of products that have different margins. Collectively, they come together to create a much longer lifespan with the customer. Because it's one thing to do their support. It's another thing if you're running the systems for them. And also, you're doing all their security. You're doing all these components. You are going to have a much longer-term relationship because you are much deeper with that kind. And so that's where we still believe we're looking at a blended margin rate. We believe we can deliver into the mid-60s%, as Michael noted, at scale, even with all those different components. Because we said 75% is what we would expect the mix to be at scale that we're going to have in the support side. Because everything we do in SmartPath, you want to, if you come to me and you say, "Love what you do in the Agentic AI, but you know what? I can't get there yet. I'm bleeding cash right now. And the only thing I need to do is stop the bleeding. I need to get my cost down, and I need to return to profitability." Great. You buy our support. You save the money. It's the first step in our SmartPath. You want to move immediately to Agentic AI? Great. You start with support. Everything starts with support, and we expect to, with our, we talked about the custom, our ability to support a huge amount of product is now bigger than ever. So all those reasons, that's where we get to a bigger support. And Jeff, for your other question, right, for the core support business for 2026, I'll answer it from the vantage point of when we take off the PeopleSoft impact, right, which is going to decline next year. I do see our core support business growing. Rather than I give you a number and start talking, parsing out the lines of business, etc., but from an overall perspective, yes, we see it as an up year, a growth year for our core support offering, excluding PeopleSoft. Yes. Very helpful. One last, just, Seth, if you talk about innovate and we look forward two years, what would be a goal in terms of% of revenue? That one's a hard one. I don't think we're there yet. And I think that's why we put, we don't, no one really even understands what a TAM number. Anyone who puts a TAM number up there is absolutely guessing. So I think there's still numbers we don't understand yet. We know, for example, that if we're doing managed service, it could be two to three X, whatever the support is. We have some of those formulas we understand. We don't yet understand the full ratio in terms of the new innovate pillar. But I do think, again, as I said, I expect it to be material into our numbers accretively in 2026 because it is moving as fast as we can keep up with it. So as long as we continue to make the investments, and you notice we didn't talk about, we're not going out and raising capital or doing anything like that. We sit on plenty of cash. We're sitting here saying, "Look, we're going to reduce internal costs. We are shifting cost into that bucket. And we're probably going to spend $10 million-$20 million in the next few years just on people dedicated to that pillar." So we are making internal moves, but we don't plan to raise the overall cost of the business. Our goal is to hold the cost fairly steady while raising the revenue and improving profitability. Great. Thank you. I think we're out of time, Seth. Okay. We are out of time. Thank you, everyone who joined us on the webcast remotely. Those of you who are here in the room, it's lunchtime. Thank you so much for coming. And I want to thank all of our clients for coming all over the world. That is just an amazing, humbling thing for us to have you here to talk and to share your experience. Obviously, extremely valued to us. And of course, to our friends in the Israeli government, one of our largest clients. It has been a difficult couple of years, and we are glad to be there to help. That's a key part of what we do, whether it's with governments or our other clients. So thank you very much, everybody. Appreciate everyone coming. Thank you.