We are encouraged by the better-than-expected sales growth in 4Q:F25. Year over year revenue increased 5.1% to $88.7 million and outpaced our estimate of $87.1 million. As per FactSet, the consensus revenue forecast was $86.9 million. Excluding Noa Home (a previously acquired e-commerce site that was shut down in F2024), revenue would have increased 6.4% from 4Q:F25. While the gross margin was just shy of our forecast, the operating margin (adjusted for a $498,000 asset impairment charge) was hurt by higher-than-projected SG&A expenses. With a higher effective tax rate as well (39.2% versus our forecast of 28.5%), 4Q:F25 adjusted EPS totaled $0.21 compared to our and the consensus EPS projection of $0.30. If the tax rate had matched our estimate, EPS would have been $0.25. Management noted in last night's press release that while housing activity is projected to remain sluggish, Bassett continues to find ways to reduce operating costs and gain efficiencies, along with focusing on new product launches and better integrating technology into the business. We also argue that Bassett's U.S. manufacturing base provides a competitive edge, which supports our view of further earnings gains through F2027. We expect to update our EPS estimates after today's 9:00am ET conference call (844-543-0451). The balance sheet remains in excellent shape, with zero bank debt and $59.2 million of cash and short-term investments ($6.81 per share) at the end of F2025. For now, we estimate free cash flow of $1.15 per share in F2026 and $1.38 in F2027 after free cash flow of $0.91 per share in F2025. Our moderate risk rating factors in our expectation of Bassett's earnings gains, solid balance sheet and anticipated free cash flow generation.