i3 Verticals, Inc.

Good day everyone and welcome to I3 Vertical's third quarter 2025 earnings conference call. Today's call is being recorded and a replay will be available starting today through August 15th. The number of the replay is 877-344-7529 and the code is 4426770. The replay may also be assessed for 30 days at the company's website. At this time, for opening remarks, I would like to turn the call over to Clay Whitson, Chief Strategy Officer. Please go ahead.

Good morning, and welcome to the second quarter 2025 conference call for i3 Verticals. Joining me on this call are Greg Daly, our Chairman and CEO, Greg Stanford, our President, Jeff Smith, our CFO, and Paul Christians, our Chief Revenue Officer. To the extent any non-GAAP financial measure is discussed in today's call, you will also find a reconciliation to the most directly comparable GAAP financial measure by reviewing yesterday's earnings release. It is the company's intent to provide non-GAAP financial information to enhance understanding of its consolidated GAAP financial information. This non-GAAP financial information should be considered by each individual in addition to, but not instead of, the GAAP financial statements. The conference call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements among others regarding the company's expected financial and operating performance. For this purpose, any statements made during this call that are not statements of historical fact may be deemed to be forward-looking statements. You are hereby cautioned that these forward-looking statements may be affected by the important factors, among others, set forth in the company's earnings release and in reports that are filed or furnished to the SEC. Consequently, actual operations and results may differ materially from those discussed in the forward-looking statements. Finally, the information shared on this call is valid as of today's date, and the company undertakes no obligation to update it except as may be required under applicable law. I will now turn the call over to the company's chairman and CEO, Greg Daly.

Thanks, Clay, and good morning to all of you on the call. Last quarter, we brought you some very big news, the divestiture of our healthcare revenue cycle management business. This means we have fully streamlined our company to fully focus on our public sector software business. First, I want to acknowledge all of those who worked hard to make the healthcare divestiture a reality and a smooth transition. Divesting businesses is complicated and we now have completed two of them in the last 12 months. But I'm proud to say both divestitures were well executed And I appreciate all the people that have gone above and beyond to make these deals happen. I3 now is in a stronger position than ever. The mission in front of us to enable state and local governments and related agencies to serve their constituents in an effective and efficient manner. To that end, we boast a lineup of mission critical enterprise software products Our solution enables organizations within public sector to modernize their systems and to handle significant transaction volume. Our growth rates, our growth profile continues to improve. In the third quarter, revenue grew 12% and SAS revenue grew at 24% compared to the prior year third quarter. Our balance sheet is strong. with a net cash positive over $50 million and a revolving credit facility with capacity up to 400. We plan to continue our investment in government technology, but continue a strict discipline in our M&A process. Investment in new product development is equally critical, and we are currently scaling up some of our people costs in preparation for revenue opportunities on our horizon. We will begin to feel that those impact of those costs in the fourth quarter, that we believe these investments will bring investors a great return. I now will turn the call over to Jeff, and he will provide more detail on our financial performance. When he is finished, Rick will address our strategic approach to AEI, and finally, Paul will discuss revenue. Then we'll open up the call for questions.