UIS's management participated in investor meetings at the recent Sidoti Virtual Investor Conference. Following these meetings, our conviction in UIS's potential has strengthened, and we view the shares as undervalued. While 3Q:25 was negatively affected by a large licensing renewal that was pushed into early 4Q:25, the company maintained its full year guidance for the Enterprise Computing Solutions (ECS) segment. ECS includes the legacy licensing business that is very sticky, derives higher margins, and where UIS has seen license renewals at larger scopes and longer durations. Growth in the Digital Workplace Solutions (DWS) and Cloud, Applications and Infrastructure (CA&I) segments has been muted over the last couple of years, and we expect this to continue in 2026. The company has also announced several third-party rankings and awards, which we see as a further testament to its solid offerings. We expect UIS to continue to benefit from the digital transformation and secular tailwinds from artificial intelligence (AI) that is embedded in UIS's solutions, making them more competitive. While we are lowering our revenue projections to better align with consensus and to reflect near-term headwinds in the non-L&S (license and support) business, we expect management to remain focused on expenses and cash flow. The company should be well positioned to expand profitability as it returns to revenue growth.