Liquidity Services, Inc.

Ladies and gentlemen, welcome to the Liquidity Services First Quarter Fiscal Year 2026 Financial Results Conference Call. My name is Michelle, and I will be your operator for today's call. Please note that this conference call is being recorded. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session. I will now turn the call over to Michael Patrick, liquidity services vice president and controller. Please go ahead.

Good morning. On the call today are Bill Angrick, our chairman and chief executive officer, and Jorge Celaya, our executive vice president and chief financial officer. They will be available for questions after their prepared remarks. The following discussion and responses to your questions reflect management views as of today, February 5th, 2026, and will include forward-looking statements. Actual results may differ materially. Additional information about factors that could potentially impact our financial results is included in today's press release and in filings with the SEC, including our most recent annual report on Form 10-K. As you listen to today's call, please have our press release in front of you, which includes our financial results as well as metrics and commentary on the quarter. During this call, management will discuss certain non-GAAP financial measures. In our press release and filings with the SEC, each of which is posted on our website, you will find additional disclosures regarding these non-GAAP measures. including the reconciliation of these measures with their most comparable gap measures as available. Management also uses certain supplemental operating data as a measure of certain components of operating performance, which we also believe is useful for management and investors. This supplemental operating data includes gross merchandise volume and should not be considered a substitute for or superior to gap results. At this time, I will turn the presentation over to our chairman and CEO, Bill Engert.

Good morning.