We maintain our 2Q:25 EPS estimate of $0.05, down from $0.06 in the prior year period. III provided 2Q:25 revenue guidance of $59.5 million-$60.5 million and adjusted EBITDA guidance of $7.0 million-$8.0 million. Our revenue estimate of $59.9 million implies a 6.8% decline year over year, primarily due to an asset divestiture last October. We look forward to management commentary regarding recent client demand trends, particularly updated artificial intelligence (AI) adoption activity. We maintain our EPS estimates of $0.21 in 2025 and $0.39 in 2026. We maintain our free cash flow per share (excluding the add back of stock-based compensation expense) estimates of $0.16 in 2025 and $0.34 in 2026, which imply respective FCF yields of 3.8% and 8.0%. Our $7 price target is based on 19x our 2026 EPS estimate of $0.39. Free cash flow generation, the global customer base and a strengthened balance sheet support the multiple and our moderate risk rating, in our view.