Al Miralles

“I'll begin with details on our third quarter performance, move to capital allocation priorities, and then finish with our outlook for the remainder of 2026.”

“So that had some impact on our gross margin, but we also view it as a very encouraging trend in terms of enterprises getting on with their AI journeys. And then maybe just walking down the P&L, we had talked about inflecting in Q2 and beyond on the operating leverage front.”

“As we said on the last call, we thought that we would see operating leverage inflect in the second quarter. That was more a result of really kind of good old-fashioned discipline around expenses and just broader efficiency efforts, less contribution at large from Geared for Growth.”

“I will start my prepared remarks with details on our fourth quarter performance, quickly recap 2025 as a whole, move to capital allocation priorities, and finish with our outlook for 2026.”

“First, I would just note for 2025, which we've talked about as a bit of a period of transition for us, but also traction, and we're seeing that traction above our expectations, so important in that regard.”