reAlpha Tech Corp.

and below in the comments as we will do a QA section at the end. Before we begin, please note that today's discussion may include forward-looking statements. Our full disclaimer is in the comments below, along with our link to our investor relations website, where you can find our press releases, filings, and additional materials. Joining us today is our Chief Executive Officer, Mike Lagozzo. So Mike's path as the first employee of Realpha has evolved alongside the company itself. He joined in the early days as chief financial officer and later took on broader leadership responsibilities as president and chief operating officer. Through those roles, he worked closely with teams across the organization as the company built out its platform, expanded operations, and prepared for its public listing. That progression gives him a broad perspective across finance, operations, and strategy, alongside a practical understanding of how the different parts of the business come together. Today, as CEO, Mike focuses on execution and scaling the company, integrating the businesses we bring onto the platform, strengthening operations, and continuing to build the systems that support Realpha's next phase of growth. We're also joined by Thomas Gutzman, our Chief Financial Officer. Tom joined Realpha through our acquisition of Preview in November of 2025, where he was a co-founder and helped build a digital-first home buying platform that expanded across 12 states and Washington, D.C. Following the acquisition, Tom served as CEO of Realpha Realty, leading the integration of Preview's brokerage operations into the broader Realpha platform. Recently, Tom was appointed Chief Financial Officer, where he now oversees the company's financial operations and capital strategy, Earlier in his career, Tom held investment and trading roles at firms including SAC Capital, JP Morgan, Citi, and Jaber Capital Partners, and brings both capital markets and real estate technology experience to the role. Mike and Tom, thank you both for being here.

Hey, Paul, thanks for facilitating today, and thanks for everybody for taking the time to listen to us. Hi, everyone.

Great to be here. Awesome. Today I'll walk through a series of questions across three areas. Our financial results, the progress we've made in building the platform, and how management is thinking about strategy and execution going forward. So with that, let's get right into it. So Tom, starting with the financials, when you look at the fourth quarter and the full year results, what stood out most from a financial perspective?