Well, good afternoon. My name's Greg Carter. I'm the Chief Revenue Officer for Usio, and we're going to talk to probably the most dynamic payments company you've never heard of. Little bit about us. Was founded in 1998. We've been essentially a public benefit then in various forms. We are Nacha Certified. I'll talk about that when it comes to our ACH business. We're very high industry accreditation, and obviously publicly traded on the NASDAQ under the symbol USIO. Here's a little bit about our business platform. There's really three segments of our business. Card issuing, which is a prepaid, which includes Mastercard. We have our acquiring division, which is traditional credit and debit card processing. That includes ACH. Then we have a print and mail house that we call Usio Output Solutions. This is a reference. We did 7 million checks for printing, 7 million checks from Gap Inc customers last year from that facility. Those are the same effects. Here's our obligatory logo slide. Since we do operate three different business units, we have customers that consume all of our products, and certain customers that are just siloed, either as a print customer, an acquiring credit card customer, or that solution. You'll notice the Apple sign up there. Apple does use all of our technology to test their wallet capabilities, and I'll cover that in our customers out of our business line. Payment facilitation resides in our acquiring division. This is our flagship product on the credit card side. Our sales team does not go out and call on dry cleaners, restaurants, mom-and-pop shops. We sell exclusively through software vendors. We'll go find a software vendor that says they use a production or product management software. That's a lot better. Okay, we'll start over. No, we're not going to start over. Anyway, payment facilitation is credit card processing with the software company. Now, if you want to become a credit card processor, in order to do that, you're talking about millions of dollars in CapEx. You're going to need the personnel. More importantly, you're going to need a processor and a bank sponsor. If you come to Usio, you don't need any of that. You sign an agreement with us, you integrate to our technology, and then the software company then looks like it's actually the credit card processor. What's the value proposition? The value proposition is we share some revenue, the interchange revenue that we earn from processing that credit card. We're going to tag team this, I'll have Michael, he's our Chief Accounting Officer, go over the financials of our payment facilitation business. I'm Michael White, Chief Accounting Officer. Quick breakdown on how we make money on this business line. If you're talking about a $100 transaction, we're going to receive 2.5%, roughly, in top-line revenue that we're going to recognize. With that, there's some costs associated. About 75% goes to the card issuer, another 6% goes to the card brand, bring our gross revenue to $0.50 or 20%. As Greg mentioned, after that, we're splitting that 50/50 with the partner, bringing our net to just $0.25 on a $100 swipe. You can see how it's really a volume game. On $2.5 million, just over $6,000. Later you'll see we processed over $8 billion in total payments in 2025, we're real excited to see that scale. What's really cool about this business model is we sell one software company, then they sell to subscribers, or in the case of that physician, new doctors. There are customers that onboard to our system through software companies that we may have sold five years ago. Really it's a proxy sales force for us as well. As they grow, we grow. It's three legs to the stool. That's PayFac or payment facilitation. Talk about ACH. I think everybody knows what ACH is. That's a direct debit off your checking or savings account. Again, contrary to public opinion, ACH is thriving and growing very well. As you can see from the margin profile, it's our highest level margin, most of our customers are in lenders, both hard money and fintech lenders, state-licensed lenders, HOAs, school boards. Anything that's recurring in nature is a target for ACH. Michael, you want to go over the financials? Sure. Yeah, unlike credit card processing, on ACH, we're charging a fee per transaction. Whether it's a $10 transaction or a $10,000 transaction, we earn about $0.70 per transactions with margins, or the highest margin product of up to 70%. Our card issuing side, again, we're exclusive to Mastercard, we are the issuer and program manager for this product. We actually could put a virtual Mastercard in your phone without you even asking for it. If I have your phone number, I could put That's the technology we do with Apple. Probably the best example of this business unit was during COVID, City of New York wanted to give out $100 Mastercards for all their citizens that got a COVID shot. City of New York calls Mastercard and said, "Hey, we want to do this program." Mastercard tells New York, "We don't do that." They really don't do anything in the transaction. There's only one company that you can call that can do that in the timeframe, and that's Usio. We did that program for City of New York. Even though that platform or that use case has expired, that platform still resides. In fact, they used it recently with the New York nurses' strike, they used our platform to pay those nurses while they were on strike. Other use case examples are per diem. The Baltimore Orioles, for example, uses our platform for their per diem when their players go on the road. Rather than give them a check, they just load their amount on a card, and they can reuse that as necessary. Our card is unique in that it's GPR in nature, or it can be custom use case. You could reload this, payroll deduction, et cetera. It is a full-service debit card like you would get anywhere else, but we have the ability to do that in a virtual environment as well. Michael will go over the financials. We earn money primarily in three ways in this business line. The first being card creation, between $0.35- $4. If it's a digital card to your wallet, obviously the fee is going to be less. We also can do custom cards the price can vary. Once the funds are loaded onto the card, we're earning 1%-2% of the swipe amount via interchange. Lastly, we estimate between 2%-4% of funds that are loaded onto cards to eventually spoil and come off via inactivity fees. Basically, if a card isn't used after a period of 12 months, we start to fee that down until the balance is zero. If you get a $100 card, often people don't spend the last five bucks or whatever that might be left on the card. We fee that down over time. Combined, we see margins of about 30%-40% in this business line. From a product development standpoint, we're taking our technology and we're using that to our existing. We're using our prepaid technology to use wearables. Those can be tap-to-pay. They could be wristbands for concerts. Some of our customers include reverse ATM providers. If you've ever been to a resort like Six Flags where they don't take cash and you don't have a credit card, you can go up to these kiosks, put $100 of cash in, and it distributes or dispenses a prepaid Mastercard. We power that solution. These are the type of products that we're doing. The custom card was fan cards. Those are branded university cards that they sell in the student unions. Consumer Choice is really our flagship product. If you look at our entire spectrum of capabilities, we now probably one of the only companies that if a plaintiff's attorney or a class action came to you and said, "We need to distribute $1 billion," how can you do that? Just give us the phone numbers or emails, and we can give the consumer the choice of how they want to receive those funds, ACH, a check, pinless debit, direct debit to the bank account. We can do that, where a lot of other companies are siloed. They can do one, if not the other, but they can't do all three. We can even print checks if we need to. Output Solutions is our print and mail shop. We purchased this asset about six years ago. It is also located in San Antonio, where our corporate headquarters are. They were printing our checks. We now take this technology and integrate it to everything we've got. The obvious question is, why would a payments company buy a print house? If you think about it, most invoices require payment. Our customers are utilities, they're credit unions, they're regulated entities that typically have some kind of payment hook into them. When you get that utility statement, there's a QR code on that. That's generated by us, printed by us, and then we process that payment as well. We bought this business in 2020 for $6 million, and it does over $20 million now, it was a pretty good trade. Michael, you want to go over the financials? This is a little more simple to understand as far as how we make money. It is basically per page printed. We earn about $0.15-$0.18 per page. We earn some margin on the actual postage as well, around $0.02 per page that goes out. We also do electronic bill presentment. Some customers opt to go paperless. We do that document housing and send those documents as well, and also are able to tie in those payment needs. 18%-22% margins in this business. Michael's going to go over some data points as far as the business itself is concerned. There are two metrics that are important to us. Dollars processed and transactions processed. On some business lines like PayFac and card issuing, we are earning on the amount that is spent. You can see last year, we processed $8.4 billion across all the business lines. Second highest in the history of the company. 2021 was our peak. We were processing payments for a crypto company, not actually touching the crypto, just the USD in and out of the wallet. We are reaching those levels again. Those familiar with Voyager Digital, we were doing the ACH in and out of those wallets until they went bankrupt, we lost that revenue. Yep. Transactions processed. Last year, we processed 61 million transactions. That was the highest in the company's history. Both metrics are important. We're seeing these continue to grow into 2026. Here's a little chart of our revenue since 2017. Last year, we reported $85.4 million in revenue. You can see the last three years were relatively flat. Greg mentioned the New York City program. In 2023, we recognized about $12 million of spoilage revenue from New York City that didn't reoccur in 2024. Unfortunately, going into 2025, one of our larger customers was acquired, and we lost that due to the acquisition. If you were to normalize 2025 and 2024 to those changes, we would've grown last year around 12%. Our guidance for 2026 is 10%-12% revenue growth. You'll see in the future slides, we're really confident in that. In Q1, we recorded $25.5 million in top-line revenue, which was 16% growth over 2025's first quarter. A quick look at our financials. Like I said, $85.4 million in last year. I mean, last year, 2025, and $25.5 million in Q1. We report adjusted EBITDA net of our non-cash stock compensation. The first quarter was $800,000, and adjusted EBITDA margins of 3%. We're expecting, as we scale over the next several months into 2027, that these EBITDA bottom line margins will improve as we continue to grow top-line revenue. Our expenses are at a point where we can keep them moderately flat with some minor growth there. We're at a point of operating leverage in the company. We can add another $1 billion- $2 billion worth of payments without having to increase headcount or staff. A really strong balance sheet. We have about $7.7 million in operating cash. You can see the second line there, the restricted cash and settlement funds. At any given time, we have between $80 million and $120 million in our account, and we're seeing those balances actually increase. That's funds that's in some stage of being processed. In our settlement accounts, we typically hold funds for ACH up to three days. We do earn interest on those funds. We do overnight sweeps into investment accounts and consider that to also be a key part of our business strategy. Essentially no debt. We have one small equipment loan of less than $1 million for a printer at Output Solutions. Really strong balance sheet, and we're continuing to build that leverage. 27.7 million shares outstanding as of the end of the quarter. 5.2 million of that is insider ownership, 22.5 million or million shares of public float. It's important to note that every employee of Usio is a shareholder, everybody's got a hand on the bag, if you will, with respect to our performance. Just, again, one of the obligatory slide for this event. We really are a unique animal. You're not going to find a comparable for Usio of our size. There's nothing like us until you get way up market to the global Fiserv type entities. For that reason, we draw a lot of attention, and that attention is warranted because we deliver. Usio works at the speed of business. We answer the phone. There's not chatbots or voicemails. We have account managers that do that. Our white glove service is talked about, but it's delivered, and it's reflected in our growth. Our attrition is stellar. We don't have attrition. We do lose customers from time to time through either acquisition or insolvency, not because they're not happy with the service. Paul Manley is our Senior Vice President of Investor Relations. That's his contact information. I know we're a little early, we'd like to open it up for questions if there are any. Yes, sir. [audio distortion] Sure. At the end of the day, it's just processing a credit card. It's a commodity type issue, just processing credit cards. The payment facilitation angle is that we give that illusion, if you will, that that software company is the processor of record, and the other hook is that revenue share. Unless you're significant, very large, maybe hundreds of millions of dollars of processing volume, you may get a revenue share from Stripe. We have startups that we share revenue with. We have startups that have gone literally from zero to multimillion dollars in processing. Now with using Usio, they have a no-cost revenue source that they can tap into for whatever needs they have. Payment facilitation is really the moniker, at the end of the day, it's just a business model and a sales acquisition method with respect to that revenue share. It's the one to many, right? We sell to that software company that may have 1,000 subscribers. We just got access to 1,000 subscribers for processing, which if we try to do that one-on-one, you can imagine the time associated with that. Yes, sir. Sure. We do have a traditional sales force. We have eight quoted sales bodies and a proxy sales force of referral agents and customers of about 25. Traditional smile and dial prospecting, industry participation, a lot of referrals from Mastercard, believe it or not. Mastercard calls us weekly with referrals. On the prepaid side, we don't make a lot of outbound calls just because we're tending to the calls from Mastercard themselves. Those are 99% high qualified leads when they come in. On the payment facilitation side or the PayFac side, that's just guerilla type marketing, traditional means. Salespeople from an NDA to contract execution to implementation can take two weeks to two years. It's all about pace and priority of the software company. On the print shop, most of our customers are municipalities, regulated entities like credit unions, utility companies. We reside in Bexar County, we did a 1.5 million voter registration cards. That's typically done through an RFP process. Most of our sales are just traditional business development. Yes, sir. [audio distortion] We made the acquisition of a company called Akimbo back in 2016, and they were exclusive to Mastercard at that time. We just maintained that. We can't be exclusive. We got to choose one. We chose Mastercard. From a capability standpoint, we could, but contractually and from a relation standpoint, it's Mastercard. Yes, sir. [audio distortion] Good question. I can't give you a breakout of in 2025 of what was net new for the year versus organic growth. Given the PayFac model, it does grow itself because of that replicating nature as they sell. The prepaid side has a lot of limited time. There are use cases like the COVID. We don't really have open-ended prepaid programs. We have one that's coming up, but I don't have a real clean answer for you. I'd say it's probably 75, 25. 75 of net new logos versus 25 organic growth. Yeah. The restricted cash. Right now we're earning interest on probably 70% of it. Basically, we sweep it into money market accounts and are earning a little under whatever the Treasury rate. That's just our agreement with our banking partners. We're sweeping funds overnight. We can predict to see, or we know when the funds are going to be coming out. We just make sure the funds are available when they need to be settled. We're working to bring that closer to 100% with some different initiatives with our bank and some newer technologies of automated sweeps and that kind of thing. Right now, about 70% of those balances are earning. Just to add to that, all of our customers are required to pre-fund before we'll do any ACH or pre-fund their debit, their prepaid program. That's the lion's share of that, plus our settlement funds from processing in the days previous. One thing that we haven't added to this presentation yet, but we're talking about, is a software acquisition we made in November 2025. It was a company called PostCredit. We recently announced that we're calling it Usio One. It essentially allows us to operate as a pseudo bank. All of our customers will be getting a Usio bank account, similar to how a Stripe or a Square works when you process payments. The settlement goes into your Stripe or PayPal or Square wallet, then you have to transfer that to your account, or you could leave it there. We're expecting to see the balances in our realm increase and also be there for longer. Once funds are in the Usio link account, the idea is that all of our products will be tied into one, so they can then, similar to Consumer Choice, our customers can choose how they want to disperse funds all on one platform. These restricted cash and settlement funds, we're expecting to increase, so our associated interest income as well. [audio distortion] There is a little bit of nuance on the business line itself, where that revenue comes from. On the PayFac side, we can double our processing. We can literally double it, maybe add an account manager, but from an infrastructure issue, no issue. He's spot on with respect to we couldn't triple our output because we'd bought a new printer, we'd have to buy probably another printer to do order of magnitude. We're comfortable growing our business to $200 million current configuration. Correct. That's on the prepaid side. Some of the larger names, some of it was self-funded as well, or self-directed. Payments is like telecommunications. It's somewhat incestuous, so we provide services for our competitors as well, like those checks. We did that for a competitive fintech. Same thing on this voucher program. They don't have a disbursement capability. Remember I talked about Consumer Choice? We can send money any way you want it. There's not a lot of companies that can do that, and that's why we were selected. Well, that's all we got. Thanks for your time. Keep an eye on this one because this is a tiger by the tail, telling you. Thank you.