Pattern Group Inc.

Thank you for standing by, and welcome to Patterns' fourth quarter and four-year 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Hamish Chung.

vp finance please go ahead thank you operator good afternoon and thank you for joining patton's earning call for the fourth quarter and full year 2025 our first full year end call as a public company before we begin i'd like to remind everyone that today's discussion may contain forward-looking statements based on our current expectations assumptions and forecasts about future events These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Please refer to our latest filings with the Securities and Exchange Commission for more information on these risks and uncertainties. We may also refer to certain non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most directly comparable GAAP measures can be found in our earnings release. We'll focus our remarks today on the key highlights and drivers. Additional detail is available in the earnings release. Joining us today are Dave Wright, our co-founder and chief executive officer, and Jason Beasley, our chief financial officer. Today's earnings call is being webcast, and a replay will be available on our investor relations website following the call. Following our prepared remarks, we will open the call to questions. I'll now turn the call over to our CEO, Dave Wright. Dave, please go ahead.

Thanks, Hamish, and good afternoon, everyone. 2025 was a defining year for Pattern, marked by record revenue, record retention, and expanding profitability as a public company. For the full year, revenue increased 39% to $2.5 billion, Jason will walk through the specifics of our margin expansion, cash generation, and our new share repurchase program in a moment. But I want to start by outlining four strategic metrics from our results that highlight our accelerated momentum. First, net revenue retention, or NRR. We delivered a record NRR of 124% for the year, up from 116% in 2024. As brands work with Pattern, the benefits compound and they are leaning heavier into our platform. Second, international growth. Expanding our global footprint is paying off. International revenue increased 63% for the full year. That momentum accelerated in Q4 with international revenue up 69% year over year. Third, non-Amazon growth. Our channel diversification strategy is scaling rapidly. Non-Amazon revenue grew 60% for the full year and surged 94% in the fourth quarter. And fourth, SaaS services and logistics. We are successfully augmenting our core business of marketplace acceleration. This part of the business grew 58% for the full year and an impressive 162% in Q4. While still a smaller portion of revenue, this performance reflects strong platform build-out, accelerating adoption, and continued expansion into higher margin offerings. Taken together, these results reflect not just growth, but increasing momentum across the entire e-commerce equation. Stepping away from the specific financial results, I'd like to talk about e-commerce overall. We are entering a new era of e-commerce. where traditional buying channels face simultaneous headwinds and tailwinds. At the center of this shift is the rapid adoption of LLMs and AI-driven discovery, which is fundamentally rewiring how consumers conduct product research and beginning to evolve the purchase path. Today's consumer is highly empowered, using these technologies to instantly synthesize reviews and compare global specifications. This shift is compressing the funnel moving consumers from research to transaction within a single interface, and bypassing the traditional multi-stop shopping journey. As this evolves into agentic shopping where agents move beyond research to execute purchase decision, Pattern is uniquely positioned to empower brands in this new ecosystem. In this hyper-transparent environment, brands must focus on product quality and consumer delight to survive. We use our 66 trillion data points to give brands deep visibility into consumer intent and category white space. By partnering with Pattern on the full product lifecycle, we arm our partners with predictive data needed to innovate faster and capture share. This expanding value proposition is a direct contributing factor to our record MRR. Through this evolution, Pattern's role remains resolutely brand focused and channel agnostic. Whether a transaction originates from a marketplace search, an LLM query, social commerce, or an autonomous agent, our objective remains the same. Ensure our brand partners are optimized and winning the transaction wherever demand originates. What sets us apart in this environment of both AI acceleration and AI disruption is our moat, built on a foundation of data, international breadth, logistics scale, and speed. In the world of AI, speed is a critical differentiator. It starts with our data density. Our pattern intelligence layer is now powered by more than 66 trillion data points, up significantly from 47 trillion just six months ago. Our technology allows us to execute at a significant scale. In 2025, our automation engine executed 5.53 billion marketplace bid changes and 40 million price changes in real time. But intelligence alone isn't enough. You have to be able to execute globally. We pair that digital speed with the extensive international breadth of our platform, spanning 22 global offices and supporting expansion across more than 70 marketplaces. This reach is underpinned by our inventory purchase model, By owning the goods and managing the physical goods flow, we provide our partners with a level of agility and, quote, skin in the game that traditional service models simply cannot match. In an era of AI disruption, this operational control becomes a strategic advantage. In 2025, we scaled our operations, increasing shipment volume and density while meaningfully improving speed. Products now reach marketplaces in approximately 1.5 days. Furthermore, our focus on operational efficiency resulted in our Days Inventory Outstanding, or DIO, improving to 72 days, reflecting a 10-day reduction year over year. Pattern is built for where e-commerce is going. As AI reshapes discovery and automation accelerates execution, Our platform combines intelligence with operational scale to help brands win. We are entering 2026 with momentum, a durable model, and a clear focus on profitable growth. We are confident in our ability to create long-term value for our brand partners and shareholders. With that, I'll turn it over to Jason to walk through the financials. Jason, over to you.