H&R Block, Inc.

Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jessica Hazel, Vice President, Investor Relations. Please go ahead.

Thank you. Good afternoon, and welcome to H&R Block's fiscal 2026 second quarter financial results conference call. Joining me today are Curtis Campbell, our President and Chief Executive Officer, and Tiffany Mason, our Chief Financial Officer. Earlier today, we issued a press release and presentation, which can be downloaded or viewed live on our website at investors.hrblock.com. Our call is being broadcast and webcast live, and a replay of the webcast will be available for 90 days. Before we begin, I'd like to remind listeners that comments made by management may include forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties, and actual results could differ from those projected in any forward-looking statement due to numerous factors. For a description of these risks and uncertainties, please see H&R Block's annual report on Form 10-K and quarterly reports on Form 10-Q as updated periodically with our other SEC filings. Please note some metrics we'll discuss today are presented on a non-GAAP basis. We've reconciled the comparable gap and non-gap figures in the appendix of our presentation. Finally, the content of this call contains time-sensitive information, accurate only as of today, February 3rd, 2026. H&R Block undertakes no obligation to revise or otherwise update any statements to reflect events or circumstances after the date of this call. I will now turn it over to Curtis.

Thank you, Jessica. Good afternoon, everyone, and thank you for joining us. In January, I stepped into the role of president and CEO with a deep sense of responsibility and optimism about the future of our company. This is a pivotal moment for us, given the opportunities ahead to strengthen our core business and accelerate H&R Block's growth. My focus is clear, build on what works, challenge what needs to evolve, and ensure every decision begins and ends with the clients. Today, I'll organize our discussion into three parts. First, we'll focus on core tax season fundamentals, the table stakes that remain critical for H&R Block. Next, I'll highlight the improvements clients and tax professionals will see and feel firsthand this year. And finally, I'll touch on some of the ways we're positioning the company for long-term growth, laying the foundation for the strategy that will guide us in the years ahead. Tiffany will then walk you through our quarterly results, factors shaping our performance, and the momentum they bring to our full-year elk. Let's start with the fundamentals that matter. Our strategy begins and ends with a client. We deliver meaningful value through expert-led, technology-enabled experiences. This season, we're focused on reducing friction and creating confidence-building moments for every client, whether they choose to engage in person, online, or through any of the options in our omnichannel model, including access to a broader financial services offering. That means attracting and converting new clients and retaining existing clients with a compelling value for the price they pay, and ensuring every experience reinforces why H&R Block is the right choice. This season also brings meaningful tax law changes due to the One Big Beautiful Bill Act. And while the impact varies widely across taxpayers, the net effect is greater complexity, more questions, and a heightened desire for confidence as clients navigate new deductions, exemptions, and eligibility rules. These shifts reinforce the essential role our tax pros play in helping people feel informed and supported at a time when confidence and accuracy matter more than ever. With nearly 9,000 offices nationwide and more than 60,000 highly trained tax pros, we offer scale and expertise that cannot be matched. Our tax pros average 10 years of tenure with H&R Block, combining deep knowledge with empathy to navigate complex tax situations, and provide experiences beyond what digital-only solutions can offer. This human connection gives clients reassurance that their returns are handled with care and backed by our accuracy guarantee. Rooted in local presence and trusted expertise, we deliver results clients expect and deserve. Creating confidence and convenience is at the heart of our approach. Clients trust us with what is often their largest financial outcome of the year, and we deliver through accuracy, expertise, and solutions designed to reduce friction at every step. Whether clients choose to work with a tax pro or file on their own using our award-winning online tax product, our focus is on experiences that make engagement effortless and build loyalty from day one. Our goal is clear. Every client completes their tax journey confident in their outcome and convinced H&R Block is the partner they want for the future. We know that reaching the right clients is fundamental to our success. Our marketing must connect with those who value trust, accuracy, and personalized service, including consumers and small businesses with more complex needs who represent our greatest opportunity for long-term value creation. This means showing up where they are with messages that resonate and build confidence. And because the landscape is evolving rapidly from our consumer search to where they engage, we're committed to testing new approaches and learning in real time to help ensure our strategy stays effective. By targeting the right audiences and managing our pipeline thoughtfully, we aim to drive engagement and loyalty while staying agile in a changing environment. Our clients expect more than promises. They expect progress they can see and feel and a process that makes filing easy. This season, we're introducing meaningful improvements designed to make the experience, whether with a tax professional or through our digital channels, more seamless, more outcome-oriented, and more valuable. From onboarding that builds trust from day one to tools that reduce friction and instill confidence, these changes reflect our commitment to elevating the client experience while equipping our tax pros to perform with greater consistency and efficiency. Second look, a service where we review the last three years of a new client's tax returns to find errors or see if any refund dollars were left on the table has been a part of Block's offering for years. This year, we transformed it from a niche offering into a core component of the new client experience. We're significantly scaling this industry-leading service and embedding it as a standard part of how we serve new clients. By integrating SecondLook into onboarding and using technology to meaningfully scale, we expect to deepen engagement, improve retention, and foster longer-term loyalty. At the same time, we're further elevating our DIY solutions. Customers who use our top-rated online DIY pay products will experience an even stronger value proposition designed to build confidence at every step. Earlier this season, CNET named H&R Block the best online tax product for 2026, and the enhancements we're introducing this year build on that strong foundation. Our paid SKUs feature AI tax assist and human help, providing real-time guidance to help clients navigate complexity with ease. This year, new clients can also receive second look at no cost, And for new early season filers, we're providing taxpayer review free of charge. This service includes a professional review of the completed return and supporting documents. This unique offering gives DIY clients a bridge to professional insight, creating a distinctive way to sample human expertise that Block has delivered for 70 years. Just as technology is strengthening the value of our DIY products, it's also transforming how our taxpayers deliver for our clients. Our tax pros have entered this season with enhanced training and advanced AI tools, positioning them to be more effective than ever. At the center is our nationally launched AI-enabled tax pro assistant, which provides real-time guidance during client interactions. This empowers our tax pros to quickly service the insights clients need to achieve their best possible results on the spot. In a year of significant tax law change, when complexity is rising and clients are seeking assurance and clarity more than ever, These capabilities underscore a commitment to leading the assisted channel through expert-led, technology-enabled services. Because the real advantage comes when technology enhances, not replaces, the judgment of tax pros, giving clients both a seamless experience and the confidence that only expert insight can provide. We've also introduced tools and workflows that make the experience more consistent and outcome-oriented. Features such as save the date, two-year comparisons, and personalized product offerings will be delivered more consistently, supported by automation, so clients feel informed, confident, and cared for throughout the process. I'm optimistic about the plans we've put in place and the discipline guiding every decision. As we move through the season, we're staying closely connected to the metrics that help us understand how our work is resonating, especially new client acquisition, conversion through the funnel, and retention of clients we've served before. We're also watching the elements that strengthen satisfaction and loyalty, including offerings like Second Look and Save the Date, along with consistent delivery of what clients value most. In small business, we anticipate continued momentum in tax preparation services, bookkeeping, payroll, payments, and invoicing, combining human expertise with digital first offerings. These insights help refine our roadmap and prioritization. Lastly, I want to share how we think about the future. Block has a proud legacy, but we also have meaningful opportunities to improve, deepening customer centricity, strengthening our learning mindset, harnessing technology to accelerate progress, operating with significantly higher velocity. Historically, our season-to-season approach limited experimentation, speed, and long-term thinking. We've developed a multi-year client center strategy focused on delivering confidence, convenience, and transformative experiences. Shifting from a short-term seasonal lens to a clear long-term view of the ideal client and taxpayer experience allows us to test and learn continuously, move faster with sharper hypotheses, and increase our pace of delivery and transformation. This is a fundamental change in how I intend to lead. As we experiment and test, not every test will succeed, but each one creates insight. By embedding disciplined experimentation into our operating rhythm, We'll identify opportunities sooner, adapt more quickly, and create greater value for all stakeholders over time. As we begin to bring this strategy to life, with more to come in the quarters ahead, the first area of focus is elevating our role as trusted advisors. When clients engage with us, they're looking for confidence and convenience, and we're transforming our organization to ensure experiences are grounded in both. Our technology-enabled human expertise positions us to deliver insights that matter, helping clients feel informed and empowered while turning a once-a-year task into a meaningful opportunity to support their broader financial lives. While we're early in this work, we're committed in our vision to combine the judgment and empathy of our tax pros with technology to create personalized guidance that goes beyond tax filing. This approach reinforces what sets H&R Block apart and lays the groundwork for deeper, lasting client relationships. To enable this, we're piloting automation capabilities that streamline work behind the scenes, freeing tax pros to focus on insights that matter. By embedding AI into workflows, we can extract data from documents, pre-populate returns, and automate repetitive back-office tasks. These efficiencies should reduce manual effort, create greater consistency across the network, and enable more time for meaningful client interactions. While early in testing, this represents an important step towards combining human judgment with technology to significantly elevate the client experience. Turning to small business, we continue to see substantial long-term opportunity, including the chance to grow our share in a very large market and deepen the value we provide through more year-round engagement with each client. As we advance this strategy, we're also taking thoughtful near-term steps to strengthen our foundation, including integrating Wave into H&R Block small business in ways that combine our scale and brand trust with Wave's SaaS capability. This integration enhances our ability to tackle complexity for small business owners today while supporting the broader vision we see ahead. Lastly, AI is a critical enabler of our long-term vision. Having spent my career building technology platforms and leading product and engineering teams, I've seen firsthand how technology can unlock step-change improvements in the client experience, productivity, and growth when applied with discipline and purpose. Our approach is intentional, disciplined, and responsible, not focused on using AI for its own sake, but on applying it to real client and associate challenges at scale. We evaluate every opportunity through our framework. How technology elevates the client experience, how it strengthens our associates' expertise, and how it drives productivity across the organization. Throughout today's remarks, I've highlighted several initiatives made possible by advances in AI, technology, and innovation. I'm optimistic about the speed and possibilities this will unlock as we move forward on our journey, and I look forward to sharing more progress in the future. I'll now hand the call over to Tiffany.