Alarum Technologies Ltd.

Ladies and gentlemen, thank you for standing by. Welcome to the Alarm Technologies fourth quarter 2025 earnings results conference call. During today's presentation, all parties will be in a listen-only mode. Following management's presentation, the conference will be open to questions. If you have a question, please press the star key followed by the number one on your touchtone phone. If you would like to withdraw your question, please press the star key followed by the number two. If you're using a speaker, please lift the handset before making your selections. This conference is being recorded. I will now turn the call over to Kenny Green, Investor Relations at Alarum. Kenny, please go ahead.

Thank you. Good day to all of you and welcome to Alarum's conference call to discuss the results of the fourth quarter and full year 2025. I would like to thank management for hosting this call. Today, we are joined by Shahar Daniel, Alarm CEO, and Shai Abnit, CFO. Shahar will begin the call with an overview of the fourth quarter, followed by Shai, who will review key elements of the financials. Finally, we will open the call for the question and answer session. Before we get started, I want to highlight the forward-looking statements disclaimer. This conference call may contain, in addition to historical information, forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements include statements about plans, objectives, goals, strategies, future events of performance, and underlying assumptions and other statements that are different than historical facts. For example, when we discuss a strategy of prioritizing long-term leadership, and market share capture over short-term margins and profitability, expected trends in market demand and AI-driven growth, our business momentum and pipeline, our expectations regarding future revenue patterns and margin improvement, the anticipated impact of our strategic investments and product mix, and our estimates regarding fourth quarter 2025 revenues and adjusted EBITDA, we are using forward-looking statements. These forward-looking statements are based on the current management expectations and are subject to risks and uncertainties that may result in expectations not being realized and may cause actual outcomes to differ materially from expectations reflected in these forward-looking statements. Potential risks and uncertainties include those discussed under the headings risk factors in allowance annual report on form 20F filed with the Securities and Exchange Commission on March 20, 2025, and in any subsequent filings with the SEC. All such forward-looking statements, whether written or oral, made on behalf of the company are especially qualified by these cautionary statements, and as such, forward-looking statements are subject to risks and uncertainties, and we caution you not to place undue reliance on them. On the call, the company will also present non-IFRS key business metrics. The non-IFRS key business metrics the company uses are EBITDA and adjusted EBITDA, non-IFRS gross margin, non-IFRS net profit or loss, and non-IFRS basic earnings or loss per share or ADS. The exact definitions and reconciliations of these non-IFRS key business metrics are described in the company's financial press release, which is available in the investors' lobby of Alarm's website. These non-IFRS measures may differ materially from similarly titled measures used by other companies and should not be considered in isolation from or as a substitute for financial information prepared in accordance with IFRS. And now, I'd like to turn the call over to Shachar Daniel, Alarm Technologies CEO. Shachar, please go ahead.

Thank you very much, Kenny. Good morning, everyone. Thank you all for joining us today. So we started 2025, which was a key year for us, for Alarum, and Q4 kept it with another strong quarter. First quarter revenue, well, $11.8 million, up 60% year-over-year, while full-year revenues reached nearly $41 million, up 28%. Even as we invested a lot in increasing our capabilities throughout the year, we remained profitable. We remained profitable. We reported net profit of $0.2 million and adjusted EBITDA of $1 million. And for the full year, we reported net profit of $1 million and adjusted EBITDA of $4.4 million. This strong world reflects the shift we saw during the year as demand from AI-focused customers become a key growth driver. In 2025, Our new AI-focused products, which are our growth engines, accounted for about 30% of revenues, growing from around 4% only last year. As AI systems become more complex, demand for large-scale, high-quality public web data continues to grow. At the same time, collecting reliable data in scale becomes more difficult, raising barriers to entry and increasing the value of our infrastructure, technology, and execution. During 2025, we significantly expanded our work with several major global technology companies developing AI systems. These relationships involve large-scale data collection for model training, data sets creation, and ongoing refinement. We also saw a dramatic increase in workloads across our platform, with volume rising from between three and four petabytes per month at the beginning of the year to up to 70 petabytes at the end of this year. This sharp increase created greater operational complexity and our ability to perform at this scale became an important competitive advantage for Allaro. Strategic investment and profitability. Allaro invested significantly in its capabilities and scaled the business during 2025. We doubled our headcount, expanded our offices, and strengthened our organization across R&D products, support, customer success, and account management. From a technical standpoint, we strengthened our global proxy network, increased platform capacity, and enhanced our data collection abilities to support massive AI workloads and the growing complexity of enterprise-scale deployments. This investment now allows us to better support customers operating at massive scale, including both existing major customers and new target customers. The higher investment levels have led to lower short-term margins, although we remain profitable. These margins pressures were planned and are addressable, and as I noted last quarter and even before, we have several initiatives underway to improve margins over the coming quarters. These strategic investments and positions allow them at the center of the AI ecosystem as we move through 2026. The global AI market is still in its early stages, and that naturally creates some new terms of variability in demand. Large AI developers shift spending sharply based on how they are in their model development cycles and the timing of data set refreshes. While the year-over-year growth trend in spending on data is clear, revenue for major customers may vary from quarter to quarter. At the same time, we believe this remains the early stages of a much larger opportunity for Alarm. As demand borders our customers cases base expands and becomes more diversified and model development moves into more structured training cycles, we expect Alarm's revenue pattern to become smoother and more predictable. Product platform expansion. Our business continues to evolve from a proxy focused company into a diversified multi-product data infrastructure platform. During 2025, this evolution progressed across websites and blockers, sub-solutions, data sets, and our core proxy infrastructure. This shift from a single product proxy model to a broader platform is expected to support stronger long-term margins and healthier unit economics. Strategically, it also reflects move from a traditional zero-touch online model to a deeper enterprise relationship that requires dedicated support performance monitoring documentation, and long-term infrastructure collaboration. While this increases operation complexity, it also creates stronger customer relationships and a more strategic role in customers' operations. We believe this evolution is expanding our value proposition and improving the quality of our revenue base over time. In summary, 2025 was a transformational year for Alarm. We exerted expanded customer relationships, scaled our infrastructure, broadened our product platform, and further positioned the company to serve the rapidly growing AI data infrastructure market. At this stage, we view Allure as being in a company and a platform-building phase. Our primary focus is on strengthening leadership, expanding infrastructure and product capabilities, and deepening enterprise-customer relationships. We believe this positions us well for the larger market opportunity ahead. I believe allow them as a path to achieving a revenue run rate exceeding $100 million as the market continues to develop. I will now hand it over to Shahid for the financial details and guidance for the current quarter. Shahid.