Good morning. This is Edward Byun from the ECM team at JPMorgan. We are very excited to bring Super Micro back to the market today. I'd like to welcome you all to the group investor call. Joining us on the call today from the Super Micro team, we have David Weigand, Chief Financial Officer, Michael Staiger, SVP of Corporate Development, and Krishna Shankar, who is VP of Finance. The company's investor presentation is available on the NetRoadshow, the key offering terms are as follows. In summary, the securities being offered are SEC-registered common stock and mandatory convertible preferred stock. For the common stock, the base offering size is $1.25 billion + a 15% green shoe. For the mandatory convertible preferred stock, the base offering is $3.75 billion + a 15% green shoe. The maturity is June 1st, 2029. The expected dividend range is 6.5%-7%. The expected threshold appreciation range is 17.5%-22.5%. The preferred shares will be non-call life and have no put shares. This will be a 100% primary transaction. In addition, as you will have seen in the filings, the company expects to enter into an equity distribution agreement under which it may sell up to $2 billion of shares in common stock in at-the-market transactions from time to time, the sales under that ATM program are expected to begin no earlier than the third quarter of 2026. The company intends to use the net proceeds for general corporate purposes, including to fund working capital for growth and business expansion. JPMorgan, Goldman Sachs, and Citibank are acting as joint lead book-running managers on this offering. We expect to price the transaction today, June 10th, after the market close. With that intro, let me turn the call over to Michael. Yeah. Thank you for your time. Thank you for joining us. Well, let's kick it off. Hey, if you're looking at slide five, we're a leading global provider of IT solutions, data center solutions, and AI solutions. We have the most performative, lowest cost, most efficient systems out there on the market. You probably all know that we have some pretty significant outsized growth in the market as we're serving these systems. We have ample capacity to deliver to our customers. We have about 6,000 rack capacity per month, 3,000 as liquid cooled. The liquid cooled element and the testing facilities, we need megawatt power. We have 75 MW to do that. You see that we have plenty of momentum in our business, with $34 billion trailing Q3 fiscal 2026. We've expanded this capacity again. We continue to move forward on the capacity side, and our customers trust us for innovation and timely solutions. We have over 1,000 customers across 100 countries. We're quite global, and that's moving. Let's go to the next slide, please. Additionally, we have a long track record of providing innovation to the market, with the first really two package, x86, in a very dense format. We've been involved in the AI race, so to speak, and we've been leading there and continue to do so. We have a massive market opportunity in front of us. The TAM our partners have sized anywhere as $2 trillion to $4 trillion over time. We're addressing hyperscale capacity expansion, AI factory build-outs, and we're very well-positioned to deliver to this TAM. Our engineering prowess and design capabilities, our open architecture, the Data Center Building Block Solutions, which we call DCBBS, allow us to deliver an industry-leading time to profitability and drive a gross margin expansion. Our customers trust us for innovation, and they come to us for the technology that they need, is almost in real time. We have the ability to provide scaled solutions rapidly for them. We're enabling the build-out of the AI factories at scale and delivering them the next generation platforms as we move forward. We've diversified across our geographies. We're led by a world-class management team, and our CEO's compensation is closely aligned with this. Let's hit to slide seven. You can see over time where we've come from. A lot of folks that are new to this space, infrastructure's become more of a hot button. We've always supplied that. We've gone from parts and pieces and motherboards and systems. The foundation of a system is the motherboard, and building blocks on that front. We've moved forward from that arena to complete systems to total IT solutions. Right now, we're in the midst of end-to-end total solutions for AI. We have multiple different partner platforms that we're delivering to and we're moving quickly. We do note that in this fourth phase of production is the DCBBS has been the foundation of it. The data center deployments here at scale, customers will need more of the solution, not just the racks. Not every data center is built in the same way. They have different constraints, different requirements. Our engineering teams work with them to focus on delivering what they need in real time so they can get online faster and sooner. In fact, our DCBBS product lines have grown to more than 10 key highly optimized subsystems, and we're expanding this area to include more new categories, transformers, next gen power generators, devices for energy backup, grid power replacement, to further strengthen customer value, stickiness, deployment, and supporting the long-term profitability for Super Micro. Let's go to slide eight. You can see here that there's multiple parts to the infrastructure. We see strong demand in the AI space. I think everyone's been seeing that. We expect that strength to remain durable. It's early days. Gartner sizes it, you know [2027] at $2 trillion. What's important is we're not really participating or simply participating in a large market. We believe that we're gaining share, as customers increasingly look to their partners to deliver more of the value. This is evident by our $39 billion of AI orders that we recently got from 20 different customers that we will be serving over the next couple of quarters. Market's becoming more complex. Customers are no longer just buying individual pieces. They're looking for full factories, and that's what we're delivering here. Another element here is that we have a differentiated liquid cooling solution, free air cooling capabilities as well. In fact, we pretty much pioneered the power element, the thermal element in air-cooled servers back in the x86 world. Customers didn't care so much, but the engineering capabilities now, power and cooling are paramount, and we lead in that arena. Finally, in the DCBBS platform, it's expanding into higher value subsystems, software, networking, which to connect all these systems together, and services. This is important because we believe that the value capture per deployment will strengthen our partner relationships. Let's talk about DCBBS. There's a lot going on in this slide. There's a lot of different components here. Rather than delivering just the individual servers or racks, which we can still do for customers, we're bringing them together in the critical elements that they need for deployments. Our customer base needs the support here from that perspective. We're providing things such as CDUs, heat exchangers, chill door, power shelves, battery backups, water towers, dry towers, switching data center management software, which integrates all these pieces together and services into a complete solution. The reason it matters is that these things are becoming ridiculously complicated, and it's just difficult for customers to keep pace with the technology. We provide the engineering support that help build the AI factories that require coordination across multiple systems of the racks, liquid cooling, the network, et cetera. Our goal is to simplify that complexity for customers. If you think about what the hyperscalers are doing, they have a full suite of engineers across their platform to support multiple different platforms for the services that hyperscalers are delivering. Our customer base does not necessarily have that full staff inside, in-house. We're providing that. With DCBBS, we're creating a one-stop architecture that allows customers to deploy more complete blocks instead of sourcing and integrating and validating every component. Just takes a lot of time, and customers want to get the applications up and running so that they can generate revenue as they move forward. The key message on DCBBS is it changes the role with our customers from just supplying pieces or parts, just servers or whatever they may need. It removes it from the transactional environment to a more integrated solution provider. We're becoming a full AI infrastructure partner. We're helping our customers reduce this complexity, improve reliability, which is huge, and bring this capacity online more efficiently. From that perspective, DCBBS is increasingly important to our customers. Let's hit slide 10. Well, it's time to market, time to deployment, time to online. This is value for the customers. Just one other quick point on here, from a standpoint of deployment and time to market, the reliability of the systems and the engineering that we put in this really gives us a foundation of making sure that the customers are actually online and reliable. Second to this on time to deploy, the DCBBS element changes this deployment model, and these racks and these infrastructure components were shipped separately and tested and validated in the customer environment. If we can pass through this and create a process that decreases this lag with DCBBS, we fully build, integrate, pre-validate, and test the equipment before we ship. When this hits the floor, they can reduce the amount of work required to get their systems online as we move forward. Then they just don't want them delivered, they want them operational. We believe DCBBS really does this. The innovation here is really important to understand the evolution, building block solutions, to fully complete systems. We continue to invest in R&D in our Silicon Valley facilities. They're the cornerstone of our U.S. operations, delivering faster time to market, strong security, high-quality integration. Our partners' product sets evolve every year. We're here with them, and we keep pace with them. We handle design, engineering, and manufacturing in-house. We've never outsourced those elements. We fully control the stack. That's super important as we reach out and work with our partners, NVIDIA, Intel, Broadcom, AMD, Arm, et cetera. The culmination of our strategy is delivering these optimized solutions, as we've discussed, but we're evolving to be a more fully broad-based provider. From that perspective, if you look at what our partnerships and where we're going on slide 12, sorry about that. We have longstanding partnerships we've optimized on almost every one of these partner platforms. They're our key suppliers, and they has helped us gain market share, and these solutions are performance and cost optimized. From that perspective, we continue to work closely with next gen, coming from NVIDIA, coming from AMD, coming from Intel, Arm, and others. The integration here and the employees badge back and forth working together is a pretty important element. With NVIDIA, we're currently shipping many SKUs across their latest rack scale systems. We're preparing to be the first on the market with Vera Rubin. There's multiple different product platforms in the Vera Rubin, Blackwell. There's a whole host of things, and customers do have different setups and requirements, and we look forward to supplying all those. We're building on a strong momentum on our AMD relationship. We're preparing for next gen with AMD Helios. You probably saw the announcement recently on that front. We're already shipping AMD 355 racks, and we're working closely with Intel and Arm. We're a go-to-market partner. Arm recently launched a significant AI CPU agent platform. I think the market might be underestimating what's going on with agents. From that perspective, we have a significant amount of experience of bringing the Xeon 6+ and other CPU solutions to the market, and we will do the same thing here on the agentic side. Let's talk a little bit about a track record of success. You see this here, xAI, Colossus, basically is powered by Super Micro's directly cooled supercluster. We partner with them. I think it's important to understand the evolution of that customer. Twitter was 140 characters deployed through our systems. It was x86 that evolved into something much, much bigger with grander ambitions. Phase I for xAI specifically is we deployed 100,000 H100s, expanded to 200,000 GPUs later, one of the fastest large-scale deployments and timelines in history. From that perspective, you probably note that entire cluster now has been taken by another major AI software player. From a service perspective, I'm sure they have more work to do as we move forward. We help them, also in this cluster, reduce their time to online, but we doubled the compute density and reduced their cost by over 40%. You note that $39 billion of AI orders from over 20 customers for future quarters is foundational from a standpoint of we're supporting the best customers out there, and others really want to participate in where we're going. There's value here. If we go to slide 14, just a comparison on a competitive basis. It's kind of tough to really dive in in this short time, but we basically have all the boxes covered for the most part here. Our foundational building block architecture and DCBBS earns customers preference. They look for these quicker time to deployment with these newer technologies. It's really difficult to do. Again, having the in-house manufacturing, in-house engineering, and support, significant on many levels, including the R&D side. If you go to slide 15, we're expanding our global manufacturing footprint. What's exciting from my perspective, and you can't see it, I'm sorry to say, but when we drive in, you see Super Micro's campus. There's iron in the ground across the way from here that just is an impressive building that we're doing a new build-out. Domestically, we've announced our largest U.S. site. That's what I'm kind of referencing to. It's pretty awesome. It's just a mile away from the headquarters. We have about 4 million sq ft now in the U.S., featuring eight new buildings. They serve as a keystone of the operations. We're continuing to advance on a global basis to support a global customer base, sovereign AI requirements, and optimize our cost structure. We got a solid world-class management team. We've made some recent appointments to strengthen that. I'll let that slide speak to itself. Well, maybe I shouldn't. Matt Thauberger has just been appointed Chief Revenue Officer, has been foundational in a lot of our partner platforms and large customers. I think a lot of folks know Vik, and David Weigand, of course, Charles, who's been the brainchild behind the whole thing. We're well-positioned to take on the next level. I will turn this over to David Weigand to talk about the financial highlights, and leave it to you, David. Thanks, Michael. Thanks for joining us today. We're glad to be here. We want to talk a little bit about some of the financial highlights. Our technology leadership, which Michael has described very well, has resulted in a compounded CAGR over the last four years, fiscal year 2021 to 2025, of 58%. That's not just empty growth. We also have a consistent track record of profitable growth. Now our focus on operational excellence is being augmented by our DCBBS offerings, which Michael went over. We think that this is providing a one-stop shopping approach for our customers, and it's also helping us with our gross margins. As you should know, our operating expenses are amongst the most, I think, well managed in the industry. This means that we will have operating leverage as our revenues grow, because our expenses do not grow at the same rate as our revenues. Let's go to the next slide and show graphically what we're talking about here. From fiscal year 2021, we were doing $3.5 billion a year. Two years later, we had doubled that in FY 2023, topping $7 billion. Then in one year, we doubled our business from $7 billion to almost $15 billion. Now doing over $3.5 billion per quarter instead of per year like we did in FY 2021. We kept going up to $22 billion. Now in the trailing 12 months, we've approximated $34 billion in revenue. The business continues to grow. Now let's take a look on the bottom line at what we've done. Back in FY 2021, we were at $0.25 a share. In FY 2024, we hit $2.12. That was really reflecting the fact that we had not only mastered the supply chain, getting through COVID, but we had also mastered and come out with the very best offerings of the H100. As Michael pointed out, we were the ones that were first to market with liquid-cooled H100 racks. We took all that expertise in liquid-cooled technologies, and we came out with a complete offering of DCBBS solutions, capitalizing on the industry's recognition of what we've been promoting all along, which was really green computing and the use of low-energy solutions, which not only save power, but they also increase efficiency and also longevity of our products because they operate at lower temperatures and so they have less downtime or higher performance, lower total cost of ownership because of their engineering architecture. All right. Again, going up to last trailing 12 months at $2.29 a share. Now let's take a look at how we've done year-over-year. At left, we have our revenue at $4.6 billion last year, during Q3, going up to $10.2 billion in FY 2026. Our non-GAAP gross margin going from 9.7% to 10.1%. Our non-GAAP operating margin going from 5% up to 7.3%, again, reflecting the leverage that we're getting from higher revenues and controlled expenses. Finally, our EPS, our non-GAAP per share, going from $0.31 up to $0.84. Again, this is performance-based, both on the top line as well as the bottom line. With this offering, I want to point out that the company has come to market a couple times, I just want to remind everyone of what Super Micro has done whenever we've employed additional capital. That is, we want to best serve our customers with a more complete product offering, as Michael pointed out, as well as have good returns to our shareholders. We appreciate and have a great responsibility to our shareholders, we recognize that, and we want to deliver the very best results. Thank you very much, we'll return it back to you. Great. Why don't we move to the Q&A section of the call? Moderator, if you can guide the group on how to raise questions, please. Thank you. We will now begin the Q&A session. As a reminder, please select the Raise Hand feature to be placed in the queue. I'll allow a moment for the queue to form. The first question is from Austin Czerwiec. Please unmute your line to ask your question. All right, great. Is my audio working well? Yes, you're good. Yes. Okay, great. Thank you so much for taking the questions. Congrats on the exciting $39 billion of orders from 20 customers. I guess just speaking of that, firstly, it sounds like based on your comments earlier of serving the $39 billion over the next couple of quarters. It sounds like that'll show up within GAAP revenue over the kind of September and December quarters. Is that right? Actually, it'll go out into calendar 2027 as well. It'll be within our fiscal year 2027. I see. Got you. Looking at prior revenue and kind of trying to get a feel for how each quarter's purchase commitments that are stated within the 10-Qs and how that kind of impacts working capital. Appreciate that things have been elevated just due to your recent comments around days payable, et cetera, and the inventory increase. Can you just speak to, I guess, there's clearly a lot going on, and I know the visibility isn't, it's not like you have a year of visibility, and you get these big orders, and you obviously seek to fulfill them. As you look at your kind of pro forma liquidity and needs for, I guess, just speaking to the $39 billion of orders, is what you have after this deal enough for that? From my probably cursory view, it looks like maybe there's more needed, but I'd appreciate your kind of guidance around that. Sure. First of all, we think that this quantum of raise will allow us to increase our EBITDA, and therefore increase our borrowing capacity, because we would like to pivot back to the balance sheet next time. You'll recall that the last time we raised capital, we did two cash flow revolvers for $2 billion with a JPMorgan-led syndicate and $1.8 billion with a syndicate led by CTBC in Taiwan. We're utilizing both of these facilities. They both have accordion features, which would allow them to upsize. An additional EBITDA would make us more comfortable about raising the usage of those cash flow revolvers. Also, we believe that our increased accounts receivable will also give us the ability to factor our accounts receivable where necessary to cover spikes in our working capital during the year. We are very happy to take on this additional growth as we kind of step up our business yet once again. Last time we stepped up from 5- 12, when we went from Q1 to Q2, we were very glad to answer that increased demand by using our balance sheet. This time, we're going to use the equity and the mandatory convertibles to answer the increase and the step function of the business. We think that this will take us through this quantum of orders and business that we're working on. Thank you. If I may ask one more. Given you guys are definitely closer than all of us around kind of the demand cycles and what you're seeing in terms of the overall, I guess, AI demand space with respect to traditional and AI servers, can you just kind of help us get your perspective around how you guys view and how you mitigate or at least think around mitigating any concerns around inventory obsolescence and that whole question that tends to kind of bubble up around the market, especially recently? Not specifically to you guys, but more general question. I think with the recent inventory increase on your balance sheet, I'm sure that's top of mind, and I think any kind of commentary around that would definitely be helpful. Sure. It's a great question. I would say that growing inventory makes us definitely have to watch inventory more closely because technologies change rapidly, and so we want to make sure that we don't get caught with old technologies after there's a shift. With more vendors now, because we've announced a partnership with Arm, and of course, we have our existing partnerships with Intel, with AMD, with NVIDIA, and those are all going very strong. With more companies providing solutions, technologies do change, and the cycle has definitely shortened for new releases. We share your concern, and so we watch these. We try not to carry excess inventory. We try to carry the inventory that we believe we'll be using. This is something that we'll continue to manage as we are. Thank you. Our next question is from Joey Marincek. Please unmute yourself to ask your question. Thank you so much. I have a few questions on the $39 billion AI orders. Can you just help frame the margin profile of these orders and any color there, how firm the commitments are. Are they binding? Thank you so much. Sure. What I would say is that the orders that we have are really representative of our normal quarterly business, which means that we do have some concentration of customers, meaning that there are some large orders within that $39 billion. We also have the complete normal spectrum of products, that being NVIDIA-based products, GB300, B300, B200. We have some Vera Rubin orders in there for later on when those products start shipping. We have AMD, we have CPU-based systems that will be shipping. There's the normal spectrum, I would say on the margin side, the margins are really within what we're trying to do in terms of our targets. We hit 10.1% back in the third quarter of a margin, we're not making any forecasts at this time. What I'm saying is that the orders that we're taking are in line with what the company's trying to do in its margin. Some DC BBS solutions that we will be delivering to some of the largest data centers in the world. That will include things like chilled doors, rear doors that go on servers and increase their efficiency and also their performance by keeping them cooler. It'll include cabling, it'll include inline CDUs. A number of things that will be complementary to the racks that we're delivering. There also will be services and software that will be included as well. These are all things that are part of our DC BBS service model that I think you were asking about. Thank you. Our next question is from James Sperling. Please unmute yourself to ask your question. Thank you for doing this. I guess near term, in context of the hockey stick and some of the input costs, I'd just be curious whether you guys have contractual passthroughs to protect your gross margins or do you absorb any of that risk. I know it's not here and now, but it's topical in context of the IPO that's pricing today. I'd just be curious whether in context of your relationship with xAI, will you have any content in low earth orbit orbital data centers racks, or do you anticipate some headwinds there to the extent that SpaceX ultimately is successful delivering gigawatt scale inference capacity in orbit? Thanks. Yeah. I'll just answer the question generically, and that is we see data centers going both up and down, meaning we expect them to be in space as well as in the ocean. We think that's definitely a direction that things will go. As to the flexibility of our pricing, we do in general have provisions in our bids that allow for unforeseen changes in pricing that our vendors can impose. Obviously on some large orders, we're going to secure pricing as quickly as possible in order to lock in not just allocation but price. There are certainly a number of cases where we make bids to our customers or pricing proposals. Those proposals do have language that includes the ability to generally change pricing if there's a change in components prices. I hope I got to all your questions. Our next question is from Shubho Ghosh. Please unmute yourself to ask your question. Yeah. Hi, thanks for taking my question. I'm just wondering if you could give a little bit more color around those $39 billion in orders. How do you reconcile that with the $13 billion of Blackwell Ultra orders you mentioned during the earnings call? Is it all incremental to that, if so, with no overlapping customers assumption? Also when you mentioned these have happened in recent weeks, should we assume it implies this is all post-earnings or something you have not accounted for when forecasting out the outquarter of $11 billion-$12.5 billion in revenues? Or what consensus is at least modeling for next year of $51 billion. Thanks. Right. That's a fair question. What I'll say is that number one, these orders are orders that we've taken post earnings release on May 5th. To your second question, a lot of the orders are from existing customers and orders that we were expecting. However, it's good to get the POs. There also is a large quantum of new business which we did not have in hand, which was larger than what we expected. It's really that portion that we have to plan additional capital for. Got it. Just a little bit, just diving into that, it's spread over 20 customers. Is it spread pretty evenly, or are there still one or two customers taking the majority of it? Yeah, I think that these orders really are typical in their distribution of what we see in a normal quarter, which means we are going to have a couple of those are going to be represented by greater than 10% customers. The balance will be customers that are under 10% of our business for a quarter. I think that that same exact thing can be said about these orders. We've had 25% customers, we've had over 35% customers, this order base of $39 billion is in that same category. We have some large customers or a high concentration, we have a lot of customers in the middle tiers and lower tiers here. Finally, just one quick one on just U.S. versus non-U.S. business. Is there any color you can provide as to how we should look at that and what percentage of your orders are coming international versus U.S.? We've had some really strong traction with emerging neoclouds internationally, and those orders are included in that number. There's still a majority, 65%-70% of our business is typically U.S., still by far we manufacture in the U.S. and we have the greatest number of our customers still in the U.S. Thank you. Our next question is from Hamza Bencik. Please unmute yourself to ask your question. Hey, guys. Hey, David. Thanks for organizing. Just a couple questions. One on the firmness of the orders that you are receiving, and if they can get canceled, and how would that work? How we should think about upside to that number of orders, if you receive any, if you can support them, or if you'd need to raise more capital for that. Sure. Yeah, we typically don't like to comment about specific customers. In general we try to get NCNR POs. We don't always do that. We're very comfortable. If you look at the performance of our business, it's largely from repeat business. Like every business, we count on the quality of what we do as a means to move forward. We hope to be able to continue to provide the services and the good products going forward to continue to earn that position. Got it. Helpful. If you could talk also about In terms of future orders, should we expect this as a ceiling, or are you expecting more orders to come as the quarter come in, and how would you support those given the capacity constraints that you guys have? Yeah. I don't want to make any forecasts today. What we can say is that, we're very honored by the reception that our products have received. We find, again, that we believe that we have some of the best engineered products in the world. We believe that we have some of the best engineers in the world. About 50% of our workforce is composed of engineers. When we approach customers, it's in order to help them solve their workloads. We think that's going to serve us well, going forward, as it has in the past. Got it. Thank you. Can you hear me? Can I chime in on the-- Yeah, go ahead. on Hamza 's question? Just overview here. AI demand's accelerating. The use cases are expanding. We're prepared to capitalize on those. We have platform growth coming into the back half of the year, with VR, with AMD's Helios, with Intel, with the ARM partnership and beyond. We have DCBBS contribution, software services expectation for that to expand, enterprise expansion. These all support margin durability and should improve cash flow as well. We're accelerating the foundation of what we're trying to do in real time and serving customers in real time. I think the more the solutioning that we're doing for the customers, the more the orders will flow. Our next question is from Austin Czerwiec. Please unmute yourself to ask your question. Great. Just a couple quick follow-ups. Thank you. I saw within the stated use of proceeds, there was a commentary on debt repayment. Could you just speak to, I guess maybe preference of, or maybe rather, of the kind of planned $5 billion-$7 billion, what amount of that would maybe be earmarked for debt repayment? Yeah. What I would say is that, really the principal reason for the raise is to be able to deliver the orders that we have. However, if we have excess capital in our hands, and we're paying interest on, say, a revolver, it makes sense to pay that down from time to time, just to save interest, for instance. We may use it to, especially with on the revolver, or other debt. The general goal here is to be able to handle additional business, as we've done before. Every time that we've raised capital in the past, it's been to service a new business, which has not only helped achieve a 58% compound annual growth rate, but also a step up from $0.25 a share, back when I first started in the position to where we are now, which is $2.29, I think, over the trailing four quarters. Got you. Okay. Thank you. I heard you give the response around some of the $39 billion was, I think, generally known when you guys released earnings in early May. I guess the question is, I know Dell and HPE had massive numbers, and they were in a April ending quarter. Obviously you guys are March ending. You did release earnings in early May. Just trying to kind of, I don't know, figure out, whether maybe you guys were, at the time, more unsure if those will be realized into kind of booked orders, when you guys released earnings. I know you didn't have the kind of month of April that those two players had. I'm just trying to kind of reconcile why there's kind of a, in the last couple of months, or maybe month rather, there's been a massive increase in AI servers specifically. Well, you know. The add-on there would be why wasn't there the similar increase in AI servers in like Feb, March as well? Yeah, I think that there's an acceleration going on right now in the worldwide build-out, and that's just evidenced by I think the announcements from a number of companies, on what their spend is going to be or the planned capital raises. I don't think it's certainly not unrelated. As to when we raise money or when we get orders, we can only make plans when we get an order in hand. We can't always predict when that's going to happen. I can tell you that the book of business or the book of potential business has been very strong, and we've said that clearly in the past and including on the last earnings call. You always hope that you continue to get strong orders, and we did. That's why we're here today. Got it. Thank you. There are no further questions at this time. Back to management for any closing remarks. Yeah, thanks for joining us today. As I said, we see platform growth. We see DCBBS contribution. We see expansion of enterprise activity. The build-out is on. We're well-positioned for it. We welcome your support. Thank you. Yeah, we appreciate it, everyone. Thanks.