there were some offsets in this current quarter in the form of reserves we had to take on some of our receivables. And so, those are one-time items, and we already are looking at, you know, kind of a cleaner path to better margins in 2027. A little bit of that is also compressed by the revenue growth situation, and as that improves into 2027, the margin expansion will benefit from that as well. But the long-run guide that we've always put on margins being 50 to 100 basis points, I think you're looking north of the 100 basis points in 2027 currently. If revenue is growing in the mid-single digits, as we've kind of described here, we should be more in the 100 to 200 basis point margin expansion range for fiscal 2027.

Again, if you have a question, please press star, then one.

Alex Margraff at KeyBank is having audio troubles, but he emailed a question he'd like for us to address. He's curious to understand the bridge back to mid-single-digit growth in 2027 and our degree of competence in that path.

It's a really fair question from Alex. We're definitely sensitive to that and appreciate the market. You need to kind of understand how we get from the growth picture in 26 to 27. So, the first thing I would highlight is Greg and Paul touched on this in their comments, but we have several significant go-lives in our transportation market. Two of those are sort of in what you might call the legacy I3 transportation market. Good recurring revenue go-lives that have just kicked in here in the fourth quarter, those will be on a ramp-up period. So, the impact in Q4 is going to be really modest, but the impact in 2027 will be stronger and then into 28. And the other two are in our most recent acquisition, the electronic insurance verification software. And frankly, that's not all touching our organic growth until we get to Q2 of 2027, but the growth in that acquisition is tremendous they just have a really really strong mark market position the things that we had in the pipeline at the time of the acquisition several months ago are all on track and several material new things are also already in the hopper as well really great growth picture there once that becomes part of the organic picture that's going to be a nice significant uplift on its own. Also, the board licensing and permitting software has had a really rough 2026 with a lot of project delays, but they have a deep backlog of contracted implementation revenue and go-lives slated for 2027 here. So, their picture gets a lot brighter in that period. I alluded to the go-lives in our resolve. Everybody's well aware of West Virginia, which will continue to progress forward it'll be the back part of 2027 before we start going live on courts with that project at that point you get on the ramp of the recurring revenues but in the meantime we'll be you know we'll still have a slightly better diet of professional services in the next year and then finally in the utility space in both our portal business and the cis project that's been a really difficult year in that space in 2026 we've set the bar pretty low to grow over and what we see right now for 2027 looks a lot

brighter on both of those fronts again if you have a question please press star at then one concludes our question and answer session I would like to turn the conference back over to Greg Daly for any closing remarks and thank you everyone for dialing in this morning and we appreciate your support thank you the conference is now concluded thank you for attending today's presentation you may now disconnect