Last Thursday, management participated in the Sidoti September Small-Cap Virtual Conference. According to the company, approximately 55% of large enterprises are focused on developing their AI roadmap. We view client demand trends as likely to improve based on rising business leader confidence, partially supported by recent and anticipated interest rate cuts. Management reiterated 3Q:25 guidance, which includes revenue of $60.5-$61.5 million and adjusted EBITDA of $7.5-$8.5 million. We maintain our EPS estimates of $0.23 in 2025 and $0.39 estimate in 2026, which anticipates revenue growth resumption beginning in 4Q:25. Our free cash flow per share (excluding the add back of stock-based compensation expense) estimates of $0.19 in 2025 and $0.34 in 2026 imply respective FCF yields of 3.5% and 6.2%. Our new $8 price target is based on 20x our 2026 EPS estimate of $0.39. The prior $7 price target was based on 19x the same unchanged forecast. The increased multiple now matches our five-year EPS CAGR projection of 20%. The free cash flow generation, global customer base and a strengthened balance sheet support the multiple and our Moderate risk rating, in our view.