i3 Verticals, Inc.

Good day, everyone, and welcome to the I3 Vertical's first quarter 2026 earnings conference call. Today's call is being recorded, and a replay will be available starting today through February 13th. The number for the replay is 855-669-9658, and the code is 6769-466. The replay may be accessed 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, sir.

Good morning, and welcome to the first quarter of 2026 conference call for I3 Verticals. Joining me on this call are Greg Daly, our Chairman and CEO. 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 by applicable law. I will now turn the call over to the Committee's Chairman and CEO, Greg Daley.

Thanks, Clay, and good morning to all of you on the call. We're excited with the start of 2026. As we anticipated and guided the market, revenue was only up 1% over prior years Q1, but recurring revenue was up over 8%, more closely reflecting our expectation of long-term growth. SAS revenue led with over 24% growth we've now had four quarters in a row over 20% SAF growth, and we see that number staying north of that level through the year. While our recurring revenue sources, professional services, and license are both down, we believe our focus on recurring sources will carry the day. We're very excited to announce our latest acquisition. Rick will share more, but this is a deal we're very proud of. Our best deals tend to be the ones we source ourselves, and this is the latest example. It is a perfect fit within our transportation market. You will always be surprised at the durable, sticky, niche software solutions you will find in the public sector. Well, here's another one. Helping states early detect uninsured motorists is only possible because of thoughtful, well-executed software business solutions like this. Because they already have integrations with the insurance carriers, they have an incredible defensive market positioning and their growth is compelling. The team that built this business is staying on and we couldn't be more excited about what we can accomplish together. We remain exceptionally well-capitalized and thoughtful about how to deploy our capital and expect to have great opportunities in 2026. As always, the focus is discipline. I will now turn the call over to Jeff, and he will provide more details on financial performance. When he's finished, Rick will address our latest deal in more detail, and finally, Paul will discuss revenue. And then we'll open up the call for questions.