Premier, Inc.

Good morning and welcome to Premier's fiscal 2025 fourth quarter and full year conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. please note this event is being recorded. I would now like to turn the conference over to Ben Krasinski, Senior Director, Investor Relations. Please go ahead.

Thank you, and welcome to Premier's fiscal 2025 fourth quarter and full year conference call. Our speakers this morning are Mike Alkire, Premier's President and CEO, and Glenn Coleman, our Chief Administrative and Financial Officer. Before we get started, I want to remind everyone that our earnings release and the supplemental presentation accompanying this call are available in the Investors section of our website at investors.premierinc.com. Please be advised that management's remarks today contain certain forward-looking statements, such as statements regarding our strategies, plans, prospects, expectations, and future performance, and actual results could differ materially from those discussed today. These forward-looking statements speak as of today, and we undertake no obligation to update them. Factors that might affect future results are discussed in our filings with the SEC, including our fiscal 2025 Form 10-K, which we expect to file soon. We encourage you to review the detailed forward-looking statement and risk factor disclosures in these reports. Also, during this presentation, we will refer to adjusted and other non-GAAP financial measures, including free cash flow, to evaluate our business. Information on why we use these measures in addition to GAAP financial measures and reconciliations of these measures to our GAAP financial measures are included in our earnings release and in the appendix of the supplemental presentation accompanying this call. Information on our non-GAAP financial measures will also be included in our fiscal 2025 form 10K and our earnings form 8K, both of which we expect to file soon. I will now turn the call over to Mike Alcar.

Thanks, Ben. Good morning, everyone, and thank you for joining us for Premier's fiscal year 2025 fourth quarter and full year earnings call. Glenn will share a more detailed review of our results later in the call. But overall, I'm pleased with our strong finish to the year. Our overall revenue and profitability exceeded expectations, largely due to better than anticipated performance in the supply chain services segment, where we continue to see better contract penetration and ramp up of new member spend. In addition, we also continue to return meaningful capital to stockholders through our quarterly cash dividend and the completion of our $200 million accelerated share repurchase program. From a macro perspective, we continue to see mounting financial pressures for many of our member hospitals and health systems, both in the current environment and looking ahead. These broader market dynamics are accelerating demand for the kind of value-based strategic support that we uniquely provide. Significant headwinds. such as reimbursement cuts, are forcing health systems to rethink their cost structures and long-term sustainability. Many of our members are proactively moving beyond short-term cost containment towards structural changes that strengthen operational resilience and unlock long-term value. We are well positioned to help them on that journey. The breadth of our GPO portfolio, the depth of our advisory expertise, and the promise of our technology are differentiating us in the market. enabling us to deliver measurable impact that scale and deepen our strategic partnerships across the health system landscape. This is evident in the fact that we recently signed four very large advisory deals and have a robust pipeline heading into fiscal 2026. As a result of our efforts to reinvigorate our performance services segment and the new talent that we have brought into the company, we are seeing meaningful momentum in our advisory business. a strong validation of the differentiated expertise and capabilities we bring to our members. These health systems are turning to Premier for enterprise-wide transformation. In June, we were excited to announce the acquisition of AlumaCare, a strategic move that significantly strengthens our ability to deliver real-time insights at the point of care, leveraging our AI capabilities. This solution not only complements our existing clinical decision support offering, but also expands our addressable market, especially as providers face mounting pressure to improve clinical and financial performance simultaneously. Importantly, our pipeline continues to build, and we're encouraged by the level of strategic engagement we're seeing. These are not one-off projects. Our members are increasingly recognizing the need for fundamental change. In our supply chain services segment, our core GPO business remains strong. We're seeing increased demand for members looking for margin improvement solutions amid ongoing cost pressures, reimbursement uncertainty, and potential tariff impacts. We continue to focus on delivering stability and long-term value creation. Our pharmacy and food portfolios continue to serve as key differentiators within our GPO. Both are delivering steady, meaningful growth, not only among our current members, but also by attracting non-premier organizations seeking distinctive high-impact savings with built-in supply assurance. These categories are proving to be powerful entry points, and based on historical performance, we believe they are strong leading indicators of broader engagement across our portfolio. This momentum reinforces the critical value we deliver in helping members and future partners navigate today's operational and financial challenges. Taking together the strength of our business, the commitment of our team, and the growing strategic needs of our members give us confidence in our ability to drive growth moving forward. With that, I'll now turn the call over to Glenn for a deeper dive into our financial results and outlook for the year ahead.