SPAR Group, Inc.

Good morning and welcome to the SPAR Group fourth quarter and year-end 2025 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. 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 Sandy Martin, three-part advisors. Please go ahead.

Thank you, operator, and good morning, everyone. We appreciate you joining us for SPAR Grouping's conference call to review the fourth quarter and full year 2025 results. Joining me on the call today are SPAR's Chief Executive Officer, William Lenane, and the company's chief financial officer, Steven Hennen. This call is being webcast and can be accessed through the audio link on the events and presentations page of the investor relations section at investors.sparinc.com. The information recorded on this call speaks only as of today, so please be advised that any time sensitive information may no longer be accurate as of the date of any replay or transcript reading. I would also like to remind you that the statements made in today's discussion that are not historical facts, including statements, expectations, future events, or future financial performance are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements by their nature are uncertain and outside of the company's control. Actual results may differ materially from those expressed or implied. please refer to today's earnings press release for our disclosures on forward-looking statements. These factors and others risk and uncertainties are described in detail in the company's filings with the Securities and Exchange Commission. Management may also refer to non-GAAP financial measures and reconciliation to the nearest GAAP measures can be found at the end of our earnings release. SPAR Group assumes no obligation to update or revise any forward-looking statements publicly. Finally, the earnings press release we issued today is posted on the investor relations section of our website at sparring.com. Now I would like to turn the call over to the company's CEO, William Linnaeus.

Thank you, Sandy, and good morning. I'm pleased to share our fiscal 2025 results. After our prepared remarks, we will open the line for questions. Fiscal 2025 was a transformational year for SPARC. We finalized the work connected to the divestiture of our international joint ventures, a deliberate decision that allowed us to concentrate fully on growing our business in the US and Canada. Last week, we announced a strategic partnership with Repositrak, which I'll speak to in a moment. Today, SPAR is the nationwide retail service solutions company with deep expertise in merchandising, both traditional and our new on-demand model. We are North America-centric, people-powered, and tech-enabled, and we are aligned around a clear vision of where this business is going. Before we get to the numbers, I want to walk you through how we fundamentally changed this organization. The last two years, we simplified the business, exiting international operations that added complexity without serving our core strategy and sharpened our focus on the US and Canada markets, where we have long standing relationships with retailers and CP companies. In 2025, we rebuilt the leadership team from the ground up, eliminating management layers, bringing in proven operators with direct and varied industry experience, strengthening our data foundations and upgrading our advanced analytical capabilities. The result is a leader organization that can scale profitably. leveraging a right size cost base and automating manual tasks to turn complex execution and related data into faster decisions and ultimately better client outcomes. We are focused on delivering continued revenue growth, deliberately targeting higher margin core merchandising business while building on new service offerings. These two streams are complementary. Together, they open a large and under-penetrated addressable market with a flexible, innovative approach. And each new contract improves the economics of our fixed cost base we've already built. Our partnership with Repositrak is a direct expression of this. It demonstrates how AI, data, people, and in-store action can work together seamlessly to solve a problem retailers and vendors cannot solve with technology alone. This brings me to our strategic thesis. We believe the future of retail execution lies in the intersection of human action and AI-enabled intelligence. Technology is transforming how retailers detect out-of-stocks, pricing errors, compliance gaps, and execution failures. But detection alone doesn't fix shelves. Retailers and brands are flooded with signals. What they lack is reliable, fast, verified action since before. That gap is where Spar operates. and where we are building something defensible. Our industry is long run on a dedicated, inflexible, time-based labor model. Pay for hours, assign tasks, have hope for outcomes. We are moving past that. As far as redefining retail execution around intelligence, outcome-based action, a model where data, technology, and in-store execution converge in real time, on demand. The retailers and brands that will win over the next decade need a partner that can move at their speed, hold themselves accountable to outcomes, scale without breaking. That is what we are building, and we are just getting started. After Steve covers our detailed financial results, I will share additional thoughts and insights about the business. Steve?