XBP Global Holdings, Inc.

Good day, and welcome to the XBP Global first quarter 2026 financial results. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question, you will need to press star 1-1 on your touchtone telephone. Please note this call is being recorded. I'm going to turn the call over to David Shamus, head of investor relations. Please go ahead.

Thank you, and good afternoon, everyone. Welcome to XBP Global's first quarter 2026 earnings call. Joining me are CEO Andrey Yonovich, CFO Dan Abramovich, and our Chief Revenue Officer, Mike Schufeld. Before we begin, please note that today's remarks may contain forward-looking statements, including statements regarding our future performance, outlook, and strategy. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those described. For detailed discussion of these risks and uncertainties, please refer to our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our proxy statement and other filings with the SEC, copies of which are available on our investor relations website at investors.xppglobal.com. We will also reference certain pro forma and non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release and the appendix to our investor presentation, which are available on our investor relations website. With that, I'll turn the call over to Andre.

Good afternoon, everyone, and thank you for joining us. Please allow me to sum up the journey that we're on. At the prior call in late March covering Q4 and full year 2025, I talked about the integration of the two platforms which came together in mid 2025, the voluntary disruption of ourselves to become an AI-led company, and the investments we're making in growth, primarily focusing on the expanded sales team. While it has only been about six weeks since that earnings call, we're further along in our journey. I would like to spend a little bit of time updating you with a greater focus on the how we intend to become an AI-led company. We're converting the workflows that defined our business process as a solution business into AI pipelines. And we're doing it on our own timeline rather than the markets. This is a deliberate shift in how mission-critical workflows are delivered. Let me give you some context before we walk through the investor deck. Historically, the business process as a solution, or BPaaS model, existed to manage the exceptions and complexities that legacy platforms could not address. This is where our domain expertise resides, in the rules, workarounds, and institutional knowledge required to deliver outcomes, especially for heavily regulated industries like healthcare, banking, financial services, and the public sector. Our differentiation is regulatory-grade precision delivered through a unified execution layer, a combination which we believe resonates well with the ongoing needs of our clients. Our regulatory depth means we're able to navigate the rigorous security and oversight requirements of highly complex and regulated clients where pure play AI lacks the necessary accountability to operate. We're operationalizing our agentic AI at scale. This means that we are providing the last mile of oversight using human-in-the-loop processes and bridging data gaps within unstructured and physical data sets. And we then seamlessly integrate everything into our modular cloud-native execution layer. Together, these capabilities create a formidable competitive moat that is difficult for competitors to replicate. I'd like us to turn to the investor deck and slide five. We're now transitioning these proven workflows into AI pipelines. A cornerstone of this shift is our patented Komodo rule engine, which has long used binary Boolean logic to automate workflows. We have begun migrating these rules into inference-based models powered by LLMs. Our process is unique. Our subject matter experts, or SMEs, create logic diagrams and standard operating procedures, SOPs, for edge cases. To remain cost-effective and highly precise, we distill these into smaller domain-specific models tuned for each area of expertise. This allows us to deploy secure private models powered by proprietary SME knowledge, unified software platform, and intelligent engines. This approach ensures we uphold the highest ethical AI standards and complete data privacy for our clients. A key element of our strategy is value over volume. Our goal is broad adoption of these AI pipelines to capture a larger wall chair of our trusted clients. Today, at the inception of a deployment, we're achieving approximately 40% to 60% first pass autoresolution rate. This continuously improves to about 85% or more over time. The remaining 15% becomes our new version of BPAS, a highly focused human-in-the-loop function where our SMEs resolve the final exceptions and continuously train the AI to reduce that 15% even further. Let me help you contextualize this better. Traditional industry automation tools typically have auto resolution rates which are somewhere between 20 to 35%. This rises to a higher percentage once workflows are matured over multi-year horizons. The workflows we're migrating start at a higher auto resolution percentage and build our way higher up than the industry. In some cases, the remaining 15% can be reduced to a fraction. We're already seeing this model work at scale in our healthcare business, which is effectively a $200 million-plus business for us. This is our most advanced sector for AI deployment, and we're also making significant progress forward in the public sector using the same approach. Slide six walks through an example of how our healthcare AI pipeline operates. What was once a legacy process burdened by management overhead, training time, quality control, rework, and various other hidden operational costs and burdens can be transitioned to an agentic workflow, taking paper, unresolved claims, and converting them into a high-quality digital payload that can be processed into paid claims, thereby improving efficiencies in the healthcare industry. But automating the routine work, this new workflow significantly reduces processing time, lowers manual effort, cuts down handoffs, improves consistency, and helps providers get paid faster. While there is still human in the loop element, this is reserved for cases that truly require judgment, expertise, or simply put, human accountability. It's also important to note that we're just getting started with this journey. While we've seen margin expansion in the last few quarters, we expect this expansion to accelerate, and for this to drive a positive inflection in our EBITDA trajectory in the second half of the year. Finally, as we announced earlier today, Our board of directors has authorized a formal process to explore strategic alternatives. Given the deep discount in which our stock trades relative to our intrinsic value and the desire to be more focused on core growth engines, we believe this is the right step to unlock value for all stakeholders. The company will consider a variety of potential options, which could also include divestitures. We've been investing in talent that we believe will help us along our own this journey. We recently announced the hiring of a CHRO, Aqualia Colaco, and we've decided to invite our other recent joiner, Mike Shufelt, who is our Chief Revenue Officer, to this call. I will hand over to Mike, who will walk you through our sales strategy and pipeline. Mike?