This meeting is being recorded. You know, the fourth quarter was 9% year-over-year bookings growth, building momentum. What do you see from your customers and end markets? We saw a building momentum, you know, coming off the second half of last year. I think a good way to sort of follow that was sort of the booking rates that we were able to achieve, and also our backlog increase. I think as we, you know, started this year, obviously, a lot, looking forward into 2025, in terms of the new product introductions we were making, some of the newer positionings that we've had in the market that we saw good uptake on. Really no change to that. Obviously, all eyes are on what's happening with tariffs and some of the macroeconomic uncertainty that might be brewing based on reading the paper in the news cycle. We're not seeing that showing up in our KPIs. That's good. And, you know, you've already quantified the tariff risk: $50 million from China, $35 million from Mexico. Are you worried about potential indirect impact from tariffs? Or, you know, I think what we always, when we go into the meetings, what investors bring up, what managers bring up, it's really the uncertainty, you know, potentially killing the animal spirits. That seems to be a broader concern because every company seems to have quantified what's happening. But, you know, just maybe A, the impact, B, maybe explain, like, what% of your production falls under USMCA. And then, as I said, just, this uncertainty and what are the conversations the customers are like. Yes, as you mentioned, we've quantified our direct impact from tier one supply chain. We buy about $50 million from China, which, by the way, used to be well north of $300 million. Oh. During the first Trump administration, we have been systematically moving production and supply chain out of China to de-risk what we've been doing. On Mexico, we have about $35 million that we buy directly from Mexico. Over 90% of that is already the old source, so we can move that around in short order. We feel that that tier one supply chain risk has been managed and mitigated. Overall, you know, obviously, we are watching the macro, and our order trends. There is a lot of uncertainty in the macro, also, the markets we compete in, we feel we have pricing power, and we can price, pass any cost inflation into the markets. We did that the last time around. Again, what we can't mitigate through supply chain moves, etc., we would pass on through the market. We also have a significant part of our manufacturing in the U.S. for the U.S., and we have our largest factory for dispensers in the U.S. in Greensboro. Yep. North Carolina. We do the underground manufacturing in Altoona, Pennsylvania. We are manufacturing regionally. We have regional manufacturing in Latin America and Brazil for Latin America, Germany for Europe, India for Asia. We are somewhat decentralized from a manufacturing perspective, in region for region. It's a startling statistic, how much you sort of de-risk your China exposure. Maybe where did that go? I think real credit goes to the team, a lot of hard work, over the years. I do not think anybody should be surprised by what the Trump administration is doing from a tariff bit. We have been getting ready for this. I think the world has been headed this way for a while. Yeah. I think it's just, and we're, you know, maybe not like some of the other industries where we had so much work to do. I mean, if you look at other industries where there's just heavy reliance on, you know, manufacturing in Mexico for the U.S., or in China for the rest of the world, you know, that we were up against some headwinds, but maybe not so much headwinds from some of the other industries that are heavily dependent on it. I think it was a medium-sized putt for us that we've been working on and not a long putt. I think what we had to work with was pretty manageable. I think we were able to really take advantage of that. Did the China exposure move mostly Southeast Asia or? a blend of Southeast Asia and some in the U.S. Oh, well. We have some strong U.S. suppliers, for example, for our repair solutions, Matco business, which expanded and put in more infrastructure. They are providing us more, and they are doing it at very cost-competitive rates. Excellent. At the 2023 analyst date, you gave a target for 150 basis points of margin expansion by 2026. Given the macro headwinds, 2024 margins were flattish at 21.4%. Is the 23% plus margin target by 2026 still on the table? Yeah, we do see line of sight to our 150 basis points of margin expansion by 2026. Yes, last year was flat, but we're seeing margin expansion this year. A lot of it coming out of our mobility technologies business. The mobility technology segment will expand margins over 100 basis points this year. We're in our relatively early stages of our optimize the core, which is pillar one of our strategy, where we're structurally simplifying the business and taking cost out. Think of it very much like an 80/20 program. We call it focus and prioritization. A couple of examples. We had started our global dispenser platforms at 32 global dispensers. We cut that by more than half, and we're on our way to eight global platforms. What that really does is it allows for standardized components, which went from low single digits, will be well north of 20% relatively soon. It reduces the amount of manufacturing footprint that we have. We've taken out over 600,000 square feet of manufacturing and distribution. It also reduces your sustainment engineering, which you can then reinvest in terms of new product development, but also improve margins. Same thing on the Invenco side, which is a part of mobility technologies. We started off with 34 different global software platforms. We've reduced that to about 18, and we're on a journey to less than 10. Structurally, there's significant headway, headroom for improvement, and we continue to work on expanding our margins. I'm gonna go fairly granular, into the businesses that you have. Before I do, Mark, I know that you have sort of an overarching vision for the company, which I think it would be helpful if you framed your vision before. I'm gonna go fairly granular. Yeah. Because I think it would really help us to bring together, you know, sort of top down with bottom up, which I think is where we spend a lot of time. Yeah, I appreciate the opportunity to do that. Look, if you look at the business since been, we've repositioned ourselves pretty significantly. The best way to think about it is, what we call, serving the mobility ecosystem. It's the movement of data, goods, people along the roadway and things that are connected by the roadway. That mobility ecosystem is a very vibrant $35 billion-plus industry, quite growthy, and a lot of pretty significant trends there related to the fundamentals around digital transformation, more sustainability from options in fueling, whether it be petrol and the choices there to be more sustainable right through to electrification and gaseous fuels. Our two major customers there are convenience store operators. It's the stop in your local neighborhood. It's the stop along the roadway as a major vertical where we're selling a lot of products into. When you get into these granular questions you're gonna ask us, we're number one or number two of all critical technology selling into that mobility ecosystem. The other major customer there is the fleet operator and how they manage their fleets through their fleet depots, by being more sustainable, but also managing their assets and their costs. I think when you look at the backdrop there, quite relevant. The third major customer is around repair and repair technicians, which we sell mostly in the United States, given the artifacts of repair technicians work for both OEMs as well as small mom-and-pops, and they buy their own tools, and that's who we sell to. The transformation underfoot has positioned us quite well for what we see as longer-term secular drivers, where investment is going in and the profit pools that we've put in place are really good profit pools and provide us that optionality on fueling and fueling infrastructure as well as that digital transformation. Yeah, thank you. Having laid the solution, why don't we talk about retail solutions? For the folks, you know, listening in or here, it's point of sale payments and automation software, roughly maybe 50% of revenue. You know, you have generally 6% market share of U.S. fuel dispensers, but maybe 15% share for, you know, your software platform. You continue to win over some larger chains, I think Chevron, Shell. How does the client pipeline look, right? I think that's, that's a, you know, sort of getting a fair share. That's a big part of that story. Can you just talk about that? Yeah, I think what we started laying some breadcrumbs around was the real opportunity for these convenience store operators to manage their infrastructure better, both from a productivity perspective, but also how they attract consumers onto their site. Great examples of that are what you just referenced was Shell 13,000 site rollout of iNFX, which is that site management software that starts with also managing their fueling, but also can expand into their other operations and then followed on by an 8,000 site United States rollout with Chevron. By the way, those rollouts are going pretty well. About halfway through the Shell rollout now, and about a quarter of the way through the Chevron rollout. We also followed that up last year with an announcement with Costco in Canada, which obviously Costco's being a great customer of ours, but also looking for some of those productivity benefits through their fueling operations. I think what that's really indicative of is the opportunity for us to serve the industry. Yeah. With a new-to-the-market offering where they're able to manage things more effectively on the cloud. It's a recurrent revenue business for us. It's a great business model. Folks would not be doing that if it didn't offer pretty significant savings for them. Right. Return on investment. I think it's just indicative of the runway ahead that we have with bringing these new products to market and where we can serve not only the U.S. markets, but also other markets worldwide. Excellent. Maybe just going back to what's your fair share. Is there anything that would prevent you from getting your market share in retail software up towards your hardware market share over time? No, there's nothing. In fact, if you look at one of the artifacts to the industry that's also in our favor is that we have the majority share with the largest convenience store operators. Right. Both globally as well as regionally. These are the folks that are making the investments in the industry. These are the folks that need the tools to manage these assets. These are the folks that are also consolidating the industry. When these regulatory drivers hit, whether it be new security of payment, by the way, you're happy to know, Andrew, that we're now advancing payment card industry six standard, which will. Yeah. Obsolete in April of 2026. Yeah. Once again, a new security of payments. Yeah, we're gonna talk about that. Yeah. When you look around the world, there are all these security, payment standards and also sustainability issues around vapor recovery. We will talk about that too. Folks have to address those issues. As they are addressing those issues, the larger players are very good at deploying capital. They are flush with investment ability from a balance sheet perspective. This absolutely gives us that higher share market opportunity to go after with our new offerings as well. Folks are really interested in investing in that for their infrastructure. We like the setup that we are sitting at. Yeah. You know, should we expect something, you know, because I think Chevron and Shell, that really showed the power of your install base, Costco Canada, you know, the next 12- 24 months, is it reasonable to expect, you know, another sizable customer come on board? Absolutely. Our pipeline is, you know, growing, and we're doing pilots. Yeah. With other customers. We're not disclosing them at this point. I think as those pilots continue to advance, as the industry can look at these other proof points. Right. That are out there that also greases the skid for other larger. Relatively high degree of confidence that we should see something next 24 months. 100%. I'll take that. That's a good number. You've launched a new FlexPay 6 hardware payment terminal. You've just explained to us why, this is the pin pad at the fuel dispenser. What's the key selling point here and what's the biggest differentiation versus competitors? There are a couple of things, one of which is we just talked about security of payment. Yeah. The sunsetting of that in the United States, that's a great driver, and we think those drivers don't stop. The second one is that this is all in the cloud. So think about, think about your phone and how many security or software upgrades that you get to your phone that is just done over the air. Well, a payment technology on a dispenser, every time there's a new software update, historically, you would have to roll a truck. Right. On site to be able to do that. This is really the, now the leading technology out there where now you can do over-the-air updates. Yeah. Or any number of software updates that we see that are coming out, including media and enhancements for how you bring consumers into the store, not only security. Yeah. There is a plethora of opportunities for us to be able to leverage off that infrastructure. It is a real game changer for the industry when you think about it, including transaction speeds that are much faster, and we are improving the quality of the experience by our direct customers as well. It is a very significant upgrade for the industry, and we are really happy to be advancing it. As a consequence, we are seeing really good uptake around it. Excellent. Thank you. Maybe, we're gonna talk about environmental 10% of revenue. You know, your tank gauges and pumps are about $300 million-$350 million revenue business. You have an installed base of 350,000 tank gauges. We're now entering a replacement cycle for this above-average margin business. Maybe, can you talk about the length of this cycle and what type of uplift we're expecting? Because I think, right, as when we were talking above, above ground, we were waiting for this for a while, and it seems to be happening. Just maybe how excited should we get? I think, there's nothing like the EMV upcycle that we saw. We actually liked that because that. Provided a very lumpy. Yeah. Set of returns over a couple of years. It is a good steady driver for us. What we're talking about is our environmental business. It's below ground. It's also Veeder-Root brand. That's the Kleenex brand for the industry worldwide. Yeah. There are a number of regulatory drivers that are impacting markets around the world, both Brazil and India. We got some real strong uptake there in India as well, and then the United States. One of the advancements we are doing around this is a new tank gauge called the TLS-450 Plus, where we are advancing the state of the art for vapor recovery. Right. We're obsoleting our 350, which is a real driver. We've also been adding to our product line with a new three-horsepower pump, which is below the ground. What's happening actually is when new tanks are going in, they're going in with larger tanks. Instead of multiple operatings off multiple pumps, you can put one larger pump in there that saves them money, and so that's a real benefit. One of the other drivers that we've been talking with you about, Andrew, is that 30 years ago, there was in the United States sort of a lock, stock, and barrel changeout regulated by the EPA because these were steel-based tanks that were leaking and leaching into groundwater in your local neighborhoods. Horrific newspaper stories that were written about that in the day. Folks replaced them with resin-based tanks that were not susceptible to rust, which was a real benefit. But now 30 years on, that infrastructure is aging. As a consequence, they might be prone to leaking, and insurance rates go up after ownership for 30 years. That provides a tank upgrade cycle, which we're in early innings on in the United States. We don't make tanks. We have partnerships on the tank installations, but we make all the smart sensors, pumps, technology that go on it. Yeah. We're pretty early innings on a pretty steady upgrade cycle over the next foreseeable future for underground in the United States. As we think about $300 million-$350 million revenue, what's the good growth rate and how long do you think it's gonna be sustainable for? I think the growth rate in this environmental business is low to mid-single digits over the next few years. Okay. It's going to be a steady growth across the world because of some of the regulatory drivers that Mark talked about. Not a super cycle like we had with the EMV, but. Right. A steady progress and steady growth over the next few years. This is not political football, Andrew. Right. In the United States or a number of things that are. Right. Clean water and drinking water is. Right. Never come, you know, into the sights of saying that's not good regulation. Bobby, Canada likes clean water. I think everybody likes clean water. I think the administration of the United States has been behind regulation that also protects these type. Yeah. Of things as well. Gotcha. I should assume that this is, you know, things go well, this could be mid-single digit grow or dropping in a very nice incremental given where the profitability is. Yeah. This, the environmental portfolio is definitely incremental to our profit margins. Right. So it's margin accretive. It has margin accretive and a great business. Excellent. Maybe we can talk about fuel dispensers. You know, you're so closely associated with fuel dispensers, and at this point, it's 22%, and North America is even less. Maybe we can start. Can you just tell us where you are in terms of geographies? Help us zoom out and just, you know, talk about the fuel dispenser business because there's absolutely this association with Gilbarco Veeder-Root equals fuel, you know, the company is so much bigger. You know, I think North American fuel dispenser at this point is just not that big, but maybe help us, you know, put it in perspective. Where was it? Where is it now? And what are the other key geographies we should be thinking about? Yeah. I'm gonna let Anshooman sort of give you some more detail color. But, you know, I think if you just sort of step back from the time that we spun where we were one reporting segment. Yeah. I think it was, you know, pretty, you know, hard for folks to unpack that. Of course. You know, we've resegmented the business. Yeah. Because we wanted to offer more transparency to investors about where we're actually making our money, where the growth opportunities are. We love the dispenser business, and we think that it's gonna grow, probably more than what people have expected. And we know that. Is that a near-term comment or longer-term comment? It's actually a longer-term comment. Right. We think there's a lot of reasons for why that infrastructure is quite important and that even the sustainability of some of the petrol-based fuels is gonna be around a lot longer than what people think. Yeah. At the same time, we offer a lot of great options for fuel optionality. I think we can say today that we're extremely well positioned in the right profit pools for the options that people look at for refueling. That's something we couldn't have said at the time of the spin either. To unpack the dispenser question, maybe Anshooman can do that. Yeah. Our environmental and fueling segment, which is about a $1.4 billion segment. If we disaggregate that, about $300 million plus is the environmental below the ground business. We have about $200 million, a little north of $200 million in aftermarket parts. Yeah. About $200 million in service. Now you're talking about just dispensers being somewhere around $600 million-$700 million. Yeah. Of revenue. North America being the larger part of that. You know, people go back to the EMV days where this business was because of the super cycle was about, the peak to trough was about $500 million. Now that the peak to trough is gone, it's more steady state. Right. The underlying fundamentals of this business remain very healthy. We're continuing to see buildout of new C store sites, more modern sites with more dispensers. The underlying market in North America is growing low single digits. We believe we continue to gain share because we are structurally advantaged, as we have a higher share with the large national and regional players that are growing faster at the expense of the mom and pops. We continue to innovate in the space, which differentiates us. You know, Mark talked about the benefits of FlexBase 6, and unified payment, which not only is on the dispenser, but it can start bringing the whole footprint together because you could have the same payment device not only at the dispenser, but at the car wash where we are the leading provider of the point of sale and control software for car wash, inside the convenience store where we have a strong market position with the point of sale, but also with EV charging where we provide the EV charging software, network management software, but we can put our payment on a third-party charger. As unified payment comes together across the mobility ecosystem, that is where we continue to innovate and win. That also bodes well for our dispenser business. On the dispenser business, just maybe, you know, sort of last year, I think your dispenser sales were up low single digits. Can I ask you, why is it not doing better? The reason I'm asking, because, you know, the EMV cycle took so long that if you just think about the replacement cycle, we are about a point where all these beautiful, you know, above ground dispensers, you know, you should start replacing them. Actually, they are. We have a histogram, if you will. Right. That looks at that population. We actually just lapped it last year. Right. Where you're now beginning to replace some of the first generation. That's right. EV that went in. Right. From a population perspective, and then aftermarket parts, which we gained share. Right. Of dispensers during the EMV upcycle, you can see our aftermarket has been growing, you know, higher than that and very healthy growth rate. I'll let Anshooman comment on our growth rates. Just on aftermarket, just to go back. Aftermarket is just, it's the structural share gain, and that's, that's, it's just gonna be structural, it's just gonna be better going forward, right? It is a structural benefit that we have. And we took the lumps, if you will, when we were taking share in EMV. Yeah. That rolled off. Right. That was a bit painful, but we knew that the long-term benefit of having that installed. Right. Would pay for itself. We really focused on the aftermarket. Right. We did not feel like we were getting our fair share of that. We were very purposeful about going after that. We were very intentional about our share gain, saying, "Hey, this is a great opportunity for us to be able to go mine this aftermarket. Right. For many decades to come. I think you're seeing that flow through in some of our business. Yeah. Anshooman, maybe about the growth, like as we lap EMV, why, why not better than low single digits? Yeah. This year we've guided it to low to mid-single digits. Right. Some of it is market share gains. Over time, I think, as Mark mentioned, the first EMV dispensers are starting to get to a point where the replacement cycle is starting. I think last year was about the low point in terms of the newness of the dispenser park, so to speak. It's starting to age now. As it ages over the next few years, it'll create a better opportunity for the replacement and refresh cycle also. Again, we don't expect it to be a compressed cycle like it was with EMV. Okay. This will be just a natural extension. Part of that upgrade cycle is going to be the regulatory changes. For example, Mark talked about the Payment Card Industry PCI 4, which is the standard, fourth generation standard that's being end of life from a sale perspective in April of 2026. A lot of those customers that had dispensers with our FlexPay 4 PCI 4 product, they'll start upgrading their dispensers with our latest payment technologies. This is just a gradual upgrade cycle that will benefit for many years to come. Just on the international side, I think you're signed for large tenders in India in 2024. We used to watch there, watch those. I think, maybe as you've got more diversified, maybe a little bit less focus on that. But just, you know, I think we'll be additive to growth. Can you quantify the contribution in 2025? And more broadly, how's your international fueling business trending? Yeah. India is a good market for us and an important market for us because they're continuing to invest and grow their infrastructure. They're looking to modernize their infrastructure. There is also a lot of regulation out there. For example, they're bringing a higher content of ethanol into their petrol mix, which is more corrosive, which means they need a new set of product offerings out there. They had issues with fuel theft, which required innovation to provide new technologies to prevent fuel theft. We are very proud of our team in India. They've done a phenomenal job, not only in terms of innovation and bringing new features to market, but also from a design to cost perspective. We've localized more of our supply chain. We have an important factory in India. Not only did they really work on innovation and bringing important technologies to market, for example, dealing with the more corrosive ethanol content, dealing with security of payment, but they did it in a very cost-effective manner, which allows us to serve the Indian market with attractive margins. We are very proud of the wins they had both above the ground and below the ground, where we won all the major tenders that we participated in last year in India. Yeah, let's just sort of hit the high growth areas. First, maybe, let's start with Driivz software, right? I think you sort of commented that, I think it's grown over 50%. I think you've commented that we're better than break-even now. What kind of growth, A, am I, these are the right numbers, right? It's not break-even yet. We said it's going to exit 2026 at a break-even. Okay. So it's '26. Okay. Gotcha. Yeah. We're continuing to invest forward in that business, and the reason why is the margins are outstanding. The business model is a full SaaS business, and the plugs under management are at the rate of doubling every year. We're now number two in the market. Right. With plugs under management, with over 100,000 plugs being managed with that infrastructure. Right. I think it's a great example of getting into the right profit pool. It's an asset-light business model, and it's also a business model that can grow or does grow based on a per transaction fee. Right. With per charge. Very attractive, I think. How big is it now? Go ahead. Last year it was just under $20 million. Okay. Okay. I was thinking. Grow about. I'm thinking 20, so 26, 40 million break-even. $50 million exit. It'll exit 2026 at a $50 million break-even. Okay. Okay. Okay. Gotcha. After that, the incrementals are sort of SaaS-like incrementals? Yeah. The gross margins in this business are north of 70%. Okay. Obviously, you won't scale the operating cost. Okay. As revenue scales at the same rate. Very attractive margins as this business. Gotcha. I have my timeline off. Okay. That makes sense. ANGI, right? I think large-scale supply of natural gas and hydrogen, $100 million revenue in 2024. Last year you expanded into Europe, and there's significant government support for the European Union, Green Deal, REPowerEU. How quickly do you think you can ramp up in Europe given. We are in Europe? I think, here's a business that has done really well since spin. Right. I think has the, the right legs to continue to grow. The ANGI sells to fleet operators. Mm-hmm. Think of the customers being in the United States, Waste Management, GFL, UPS. These are folks that have worked to decarbonize their fleets. Mm-hmm. They need a technology partner. Right. Like ourselves. We are the leader in that, doing that. We thought that there's, when you look at the fueling options, compressed natural gas, biogas, leverages the same technology, decarbonization, going into hydrogen. You know, there are spots where hydrogen infrastructure is making sense. You mentioned Europe. We thought that leveraging our leadership position there, plus also our channel presence with Gilbarco Veeder-Root in Europe, which is a strong channel presence and country presence, we can also leverage that for growth. We are seeing some uptake. It'll be interesting to see how it goes, but we are also quite bullish on our opportunities in the United States with this multi-fuel future. I think that the positioning there is good for fleet operators because if you look at the backdrop, fleet operators largely have not decarbonized. Right. I mean, the vast majority of fleet operators worldwide, you know, 98% are still based on, like, high-flow diesel, and there are ways to decarbonize that. These other technologies that are available, by the way, we love selling high-flow diesel pumps as well. We're the leader in doing that worldwide. At the same time, decarbonization through NG offerings, we think represents a strong business opportunity. Let me hit on Matco because, you know, it is sort of the way people think about the economically sensitive part of the business. Arguably, unarguably tough environment for Matco last year as auto technicians felt the pinch of high inflation and tighter budgets. You know, competitor Snap-on and Mac Tool saw similar revenue declines. How do you think about the upside risk and downside risk to your outlook of relatively flattish? We have guided to a flat Matco this year, even though we're gonna be running into the back end of this year, some easier compares. Okay. Is that margin of safety? I don't know about margin of safety per se, but I think it's a guide that we're pretty comfortable with right now. Right. You know, we're just facing the Matco Expo in April. Yeah. Which is, what, that's a major selling event for us, that occurs once a year. We do have other selling events, but none at the size of that. It will be quite telling how we, you know, get through that event. So far, demand has been hanging in there. Keep in mind, the backdrop for repair is pretty good. Right. That you would think because the age of the cars keeps going up and up. 100% correct. The time from a five-year-old vehicle to the end of its life is what Andrew just described as the sweet spot of repair. That is representative of the repair market. Right. That goes up as the age of the car park continues to get longer. People are not buying as many new cars as they once did under some of the. Right. Economic pressures. Also, the complexity of repair keeps going up, whether it be an ICE vehicle, electric vehicle, hybrid vehicle. This all adds to the complexity of repair of the car park. That is also a backdrop. We think that this franchise model is very sticky. The brand is very sticky. They are buying tools mostly related to productivity, and they've dropped it in terms of the price point. Right. The mix, it's mixing down, right? Yeah. You're waiting for you. What would it take for it to mix? Because that's the question, right? Like, what does it take for them to get mix up? Does the interest rates have to come down? Like, what's the magic thing for the mix to go back? It's not really an interest rate story. It's more of a consumer confidence story. Interesting. The U.S. is more related, you know, this is part of the working class in the midst of. Right. All those, yeah. Repair technicians are fully at work. Right. They've had a period of, inflation that's been hard, you know, for them. Yeah. To be able to recover from. There's still, you know, one of the major drivers that we take control of this is offering product vitality. 25% of what we offer every year. Mm-hmm. Matco is new that year. Part of the Matco Expo is launching our. Right. Products and getting some vitality out of that. We did really well versus competition by introducing Milwaukee brand, in the last couple of years. Right. Which has served us really well from a game share perspective. I think as we look at this Matco Expo, we're gonna be looking at more product vitality, more fit to purpose in this kind of market, which we hope will bode well for us with Matco this year. You know, this is a base of workers in the United States that are also fond of the new administration. Right. You know, hopefully they'll be looking at this as opportunity. Matco Expo would be a big tell as to what's going on. It will be, yeah. Will it happen before you report or after? It's in April. Okay. Before we report, we report. Okay. Okay. The report. When you report, you'll know what's happening. Right. That would be useful. And just maybe we're a little bit over time. Last question, capital allocation. You know, what do you think about buybacks, M&A? How do you balance that? Yeah. We were dynamic in our approach, i.e., we always go towards the highest return option for our shareholders. You know, if you look at the last three years, we did the Invenco acquisition, which was north of 20% ROIC by year two. We grew the business, improved profitability significantly, but also during that time, we brought back 14% of the shares outstanding at about $28 a share. Right. We also deleveraged. We always compete buybacks with M&A, with internal investments. At the end of the day, at this share price, we believe buybacks are a very attractive use of our capital. While our guide embeds $75 million of buybacks at this price, you could expect it is going to be more than the $75 million. We will have done a significant part of the $75 million in Q1. This is terrific. Thanks so much. It's a pleasure. Thank you, Andrew. Thanks for having us. Yeah. Thank you, Mark. Good seeing you. Thank you, Andrew. Thanks so much.