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TECSYS Inc.
6/30/2026
Good morning, everyone.
Welcome to Texas Fiscal Year 2026 Fourth Quarter and Full Year Results Conference Call. Please note that the MDMA and financial statements were filed on Cedar Plus after market close yesterday. All dollar amounts are expressed in Canadian currencies and are prepared in accordance with international financial results. Some of the statements in this conference concluded in a question-and-answer period, mainly from forward-looking statements that are based on the management's beliefs and assumptions. Actual results may differ materially from such statements. I would like to remind everyone that this call is being recorded on Tuesday, June 30, 2026, at 8.30 a.m. Eastern Time. I would like to turn the conference over to Mr. Peter Burton, Chief Executive Officer at Texas. Please go ahead, sir.
Thank you. Good morning, everyone. I'm joined today by Mark Bentley, our Chief Financial Officer. We appreciate you joining us. I'm pleased to report that fiscal 26 closed with records across the board. Record Q4 revenue of $50 million, record Q4 adjusted EBITDA of $6.7 million, and record full-year revenue of $193 million. SAS grew 20% for the year, and adjusted EBITDA reached 10% ahead of our guidance range. These results reflect the continued strength of our elite platform and our healthcare solutions, which remain the core of our business and the primary driver of SAS ARR growth. Before Mark covers the financials, I want to share some of the highlights from the year. In 2004, we added two significant new customers, Memorial Hermann Health System, an $8.3 billion patient revenue health system, and one of the largest not-for-profit systems in Texas, selected Texas to power supply chain operations across their network. And Shepherd Center, one of the country's leading specialty hospitals for spinal cord and brain injury rehab, represents our first win in the rehab space. These wins cap a year that also brought in Memorial Sloan-Kettering, UT Southwestern, and major names in life sciences and global distribution. New local bookings were up 33% year over year, reflecting both the breadth of demand and the quality of our pipeline. The regulatory tailwinds we described in Q3, EFCSA enforcement, 340B scrutiny, are driving increasing urgency around modernization, and we expect this to translate into accelerating investment as yield cycles mature. And as AI evaluation matures, we believe buyers are gravitating towards the main specific partners over general purpose platforms, precisely where Texas is positioned. Our intelligence engine, Texas IQ, became commercially available in our Q3, and in Q4 we released Texas IQ Image Capture, automating a time-sensitive, labor-intensive step in supply chain receiving workflows. We are on track to continue to release additional agents in fiscal 27, with initial focus areas in point-of-use operations, pharmacy workflows, and administrative processes. Texas IQ is built to draw on healthcare-specific sources, such as the eSHIP database, GoodID, FDA, and then combine that with our own real-time digital supply chain data, a data foundation that a horizontal vendor simply cannot replicate quickly. It is one of the reasons the intelligence we deliver is operational and meaningful, rather than just directionally interesting. Across fiscal 26, our team completed more than 30 customer go-lives, Thank you for joining us. A new e-signature work phone was designed, built, and delivered in under three months and has since been incorporated into our latest Elite 2026.1 release as a standard capability. Also in Q4, Parkland Health in Dallas, one of the largest public health systems in the United States, went live on our point of use. And UNC Health went live on the Texas Pharmacy Inventory Management System, adding to the Texas point of use solution that was already running across the system. We hosted the 2026 Texas User Conference in Nashville from May 31st to June 3rd, our strongest yet, with registrations up 44% year-over-year. Customer speakers included Advent Health, Vanderbilt Health, St. Luke's, Wellstar Health, and Curvy Risk, among others, and our partnership sponsorship succeeded targets. We continue to be recognized by the most influential analysts throughout fiscal 26. We were positioned again as a challenger in the 2026 Gartner Magic Quadrant for Warehouse Management Systems, our 15th consecutive inclusion. Forty percent of the 2025 Gartner Healthcare Supply Chain Top 25 included two masters, our Texas customers, and we were recognized as a leader in the 2025 Nucleus Research WMS Technology Value Matrix for the second consecutive year. Since quarter closed, Texas has been designated FedRAMP Agency Authent Process. Thank you for joining us. I'll now turn it over to Mark to provide some additional financial details for the year and quarter, as well as financial guidance on several key metrics.
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