Zeta Global Holdings Corp. (ZETA) October 8, 2026 Investor Update Transcript

Business doesn't begin with a dashboard. It begins with an objective. Why should software begin anywhere else? Disconnected tools can't deliver connected outcomes, so AI must be more than just another tool. It needs a system, one that understands what you're trying to achieve beyond the task at hand, because moving from intent to outcome takes more than an answer. It requires intelligent connectivity. Across context, reasoning, and action through software that adapts to you, shaping every experience around the way you work. That's when software becomes far more than a mere set of tools and becomes an operating system built for better outcomes.

Please welcome to the stage, Chief Technology Officer and Head of Product at Zeta Global, Christian Monberg.

All right. Good morning, everybody. Thanks for coming down after the big opening downstairs. It is so nice to be back at Zeta Live, and it's nice this room is full. All right. AI. Hot start. Let's try again. AI is. Eating the world. I live on the West Coast in San Francisco, and I wake up at about four o'clock every morning thanks to our wonderful CEO texting me another story about AI. We're all trying to keep up with it, and man, it's a lot to keep up with. I'm having a hard time, and I'm trying to figure out how to make a better system to understand all of this. And when I talk to our customers, they're going through the same challenge, too. As I tell my kids, being full is different than being nourished. And we're all consuming these tools and having these big feelings about what we should use or what we shouldn't. I was talking to a CIO at a leading consumer electronics brand a couple weeks ago. And she was going through the... A long list of all the tools, all the partners they have. And I'm thinking to myself, well, how are you going to make all this work together? Because the ingredients don't match. And then she surprised me, and she's like, and also, we need a creative tool. And I thought, how are you going to pack that on? With all these AI tools, we get a lot of AI opinions. And the thing about opinions is that it's really hard to make them work together. What we're starting to enter as an industry is into conversations about strategies and this deep embedded understanding of how those tools should work together to power your business with governance, with compliance, with the ability to share with each other. I was here talking to a gentleman at the customer advisory board yesterday, and he's like, I can build all the tools for myself. I just can't build them for my team and my company. There's like no way to make them work together. I can't share them. I can't sustain them everywhere. And so this sets up the need for a system. Zeta's talked about systems for a long time. We talked about them last Zeta Live as well. And it comes down to this simple premise. Disconnected tools produce disconnected outcomes. People buy Zeta, internally we talk about TCO or total cost of ownership, will replace 11 different products. It's not really about the cost, it's about getting stuff to work together, getting things to integrate. So I want to talk a little bit about what drives our system. First, the context and data layer. We all know this from the real world. When we lack context, we can't make good decisions, or sometimes we put our foot in our mouth if we don't know what's going on in somebody's life. We need shared context for AI systems, and this is really hard. Because we're using a lot of different AI systems, so we need a system to bring all this together. You'll hear more about it in the industry. You'll probably hearing a lot about it at ZetaLive today. Building on top of context and data with AI infrastructure, and here's a simple truth. It's very easy to build agents. It's very, very hard to deploy agents at enterprise scale. I bet a majority of people in here have at least tried building one agent. Getting that to run your business is completely different. On top of AI infrastructure, we have an orchestration layer. AI is great at making recommendations. It will literally tell me how to raise my 10-year-old son. But there's no feedback loop. There's no AI in my living room saying, did that talking to work with him? And the same thing in technology. It'll say what you should do in marketing or how you should recalibrate your knowledge-based systems, but does it work? ChatGBT typically doesn't know that. Building on top of the orchestration layer, this is a big one I talked about at Zeta Live. We have an application layer, and we have all been accommodating the software that we use. Every single person in here has the same exact software to send emails. Maybe they've got Outlook and Gmail. Maybe a few of you have Superhuman or something, but we're all using the exact same software. It's not changing for our needs at all, and I really think it's about time that software starts adapting to our individual needs. If it has context on me, why couldn't it? The last layer on top is the experience layer. A quick show of hands, how many people work in something like ChatGPT or Claude, and also have Outlook open at the same time? Or word, yeah. And it's like, okay, we're moving between. Intelligence is not really traveling with us. We saw the intelligence, and that's good. I like a human in the middle, but it'd be nice if those things were integrated. And so at Zeta, we're thinking a lot about how can, what Zeta's known for, intelligence, be available in all the tools we need. So this is the infrastructure we've been building for a long time. I've been talking about these same layers for years at Zeta Live. We also think about this as our operating system. And as I said earlier, it's about time the industry gets an operating system, something that's sustainable, something they can grow with. And we did not invent the operating system. We did certainly evolve it, though. And we really evolved it to be around you. And I really mean that. That context layer I talked about earlier, it knows about your data, it knows about your business, but it also knows about you as an individual user. So you can see the whole business, run agents under control, coordinate work across all of your teams, build the software you need, and most important... Continue your work everywhere. In fact, somebody in the back row is sharing a demo of something we're releasing right now, and his work started in his car on the way to the gym. Good job. And it continued when he got back from the gym at his computer. It's got to follow us everywhere. So I'd like to introduce Athena OS. Now you've got a little bit better understanding of what it is and what it means to us. I want to break it down into its pieces. This is a architecture slide. Athena OS has lots of different modules, and we're going to get into this. Most importantly, these modules need to connect to your business. And they need to connect to our business. So a very wise man, Scott Brinker, who I'm hoping to meet, he's at the event. I just asked somebody who knows him to introduce me. So if you're in the room, please find me afterwards. If you're not in the room, I'll find you. He had a post on LinkedIn, maybe. Two months ago. And it was a test. It said, if you think you're building infrastructure or operating system, and I'm paraphrasing, do people build on top of it? Because if they do, then you've actually passed the infrastructure test. So with that, I am excited to invite up my dear friend and colleague, Roman Gunn, to show us how people build on top of Athena OS.

Roman.

How's it going, folks? So over the last year, Athena has allowed you to go faster. Campaigns, reports, automation, all that at lightning speed to get you time savings and efficiency. We're here to take it to the next level today by orchestrating the entirety of Zeta's intelligence stacking capabilities on your behalf. Let me show you how. Hey, Athena. I want to go ahead and optimize my flights to Spain.

Got it. I'll pull up the optimization view for your Spain routes now. Understood. Are we optimizing for incremental bookings, media efficiency, or loyalty engagement? And should I stay within the current media budget?

Let's go ahead and keep spend flat and focus on bookings.

All right, let me pull up the existing plan and align it with your bookings focus. I found the existing airlines campaigns, audiences, experiences, and customer context. I'll create the airline's Spain growth plan across audience opportunity, geographic demand, leading indicators, performance, simulation, creative readiness, activation, and measurement.

So essentially what just happened is we took everything that the ZMP knows about your business, your reports, your context, and operationalized it into a single canvas because we understand the outcome you're trying to achieve. We understood your intent, and we go ahead and create an entire workflow for you. But just because this workflow exists doesn't mean that the ZMP aspects that you know, love, and use daily have disappeared. In fact, they're better than ever. Hey, can you please open up leading indicators?

Sure, I'll open that up and take a look. Spain travel intent is up 14.2%, led by Madrid and Barcelona.

And while before you could use the great aspects of the ZMP intelligence to drive your marketing outcomes, now you can actually make all these apps work side by side. Hey, Athena, can you please pull up Simulator and Performance Advisor together?

Okay, let me pull those views into focus, and then I'll describe what's available. Performance Advisor is open side-by-side with the simulator. You can see recommendations on the left and the forecast on the right to compare the impact.

So essentially, you're able to operationalize different parts of the platform together. Seamless handoff from intelligence to activation to recommendation, all in one ecosystem. Hey, Athena, can you apply all the forecasted recommendations to my media plan?

Got it. I'll apply the full set of recommendations, and then I'll tell you where the forecast ends up. All recommendations are applied. The forecast is 2,180 bookings, which is about 9% above the 2,000 target, with spend held flat.

So while before you would have to go ahead and create different tabs or compare these views, you can now actually go ahead and just say, I like this, apply it, see it immediately. You see the impact of the intelligence immediately. Can we minimize this, please?

Sure. I'll minimize it now. Done. The window is minimized, so you're back to the canvas view.

Thanks. And can we run this entire workflow?

Alright. I'll kick off the full workflow now, and then I'll confirm what happens. The workflow is running now. I'll wait for it to finish or pause for approval, and then we can review the outcome.

So what you have here is a flow that understands state, and understands the intricacies of your business, and understands risk and governance. So before anything goes out the door, you have to approve. And obviously, we love talking to Athena, but you can go ahead and just click a button. The approval request was sent. And Athena knows what's happening on the canvas. The run succeeded. And all of a sudden, you know the exact goal you had, what was found, what was recommended, what needed to be approved, and what is now expected. All of that happens with just you stating your intent. That is how we go ahead and take marketing from singular jobs to be done to intent and outcome that you can measure. But how do we do this? Can we go ahead and take us to Context Center, please?

Sure. I'll switch over to the Context Center now. Athena. This plan is grounded in 12 sources, including the Spain Growth Brief, Route Performance Reporting, Active Campaign Definitions, Loyalty Behavior, and Airline's Existing Audience Strategy.

So Athena has full access into the intelligence behind your business. They can go ahead and look at all your attribution and understand exactly what it needs to learn from there. It can go ahead and look at your audience and segmentation, understand what performed this and the loyalty counts, all of that. All of that is ingested, cataloged, and properly structured so that we could use it on your behalf to drive your outcomes with your permission. And if you want, you can always go ahead and add additional context into the system outside of what's already there. That allows us to map to your business outcomes. Can you please take me to goals and outcomes?

Got it. I'll open the goals view so we can see how things are tracking. Airlines is at 1,437 of 2,000 incremental Spain bookings, or 72% to target. With the current plan and recommendations, the 90-day forecast is 2,180. The strongest contributors are the Madrid and Barcelona high-intent audiences, active Spain acquisition campaigns, and the airline Spain growth workspace. The largest current risk is declining creative efficiency and prospecting. Performance Advisor has already added it to the plan.

So here you can see all the campaigns that are linking to your goals, all the workspaces linking and all the recommendations. There's an actual system-wide view of what's happening, why it's happening, what it's contributing to, and how you ultimately monetize on that. But what if we want to step beyond the campaign? What if we want to think about widening our aperture? Obviously, we just did quite a leap in marketing, but what can I do with custom applications and Zeta business intelligence? Well, in this scenario, there's going to be a heatwave coming, and in big 2026, I might actually find a reason to use the word hotlanta. Let's see. So, Athena, can you please go ahead and create a demand forecasting app so that my media teams, my merchandising teams, and my regional teams know how to optimize for this heat wave?

I have enough context to build it. Demand Command will combine purchases, browsing, loyalty, category affinity, programmatic intent, weather, demand forecasting, inventory, margin, and media opportunity. It will use a map-first experience with demand, inventory, margin, and media lenses, plus scenario planning and approval controls. Building it now. The demand command app is ready and open. It's generated in a new workspace and ready for your merchandising, media, and regional teams to use.

Awesome. Looks like this heat wave is coming. Can you go ahead and show the impact that it's going to have on me and what I should be doing?

Let me check that heat scenario and then walk you through the impact and next steps. An earlier-than-expected heat wave is lifting southeast summer demand 22%. Atlanta is the highest priority market. Inventory coverage is six days, existing customer demand is up 18%, and addressable prospect intent is up 31%. One coordinated plan. Move 14,000 units into the market, maintain current pricing, suppress unnecessary promotions, add $62,000 in programmatic acquisition, and increase next regional allocation 8%. A network-wide strategy, adding $4.8 million in sales at $310,000 transfer cost.

That was a lot. TLDR, we just optimized your business. So the thing is, Athena, again, uses the business context that you provided. We create an ontology around it, and we go ahead and combine the best of your business data and Zeta data to optimize for all possible outcomes. So what did we learn from this? Can you actually tell me what's going to happen seven days from now?

Let's look ahead a week and see how the strategy plays out. Seven days in, the strategy prevented projected stockouts in 34 stores, moved $4.1 million of inventory into stronger demand, avoided $1.2 million in unnecessary markdowns, and generated $2.7 million of incremental revenue from media.

Awesome. And what should we do differently next season?

Let me think through what the season taught us and how to adjust for the next buy. Demand is consistently migrating south earlier than the current merchandise calendar assumes. I recommend changing next season's allocation before the order is placed.

So we don't just do, we learn, we optimize, and we iterate. That is how Athena works. Now, before I move on to the last thing I want to show you, I just want to say the last time I was on stage at Lincoln Center was at my high school graduation years ago, and- I was on stage there in a place where I didn't know what I was going to do next. I didn't have confidence in the decisions I was going to make. So I feel really joyful and lucky to be able to present y'all with something here that allows you to have that confidence for yourself and for your business. So I just want to say thank you to both all of y'all here and everyone at Zeta that made this possible. So for the last thing. You can take Athena everywhere. It's great that you could operationalize Athena within Athena OS, but what if I want to use it within OpenAI or Palantir's Foundry? Well, this is how you do it. Hey, do you remember that awesome campaign we built out in Athena OS earlier today? Can you go ahead and show me how it's doing? First, a little humming.

Display and CTV drove over 99% of purchases, led by a 19.9 ROAS on display and 92% VCR on CTV. While OLB logged, I'm pulling up the Athena briefing charts now. Okay, I've got the brief up. Display and CTV deliver a 12.77x overall ROAS, with strong conversion from display and solid upper funnel from CTV. OLV is weak on its own, but it does lift CTR and completion when paired with display.

There you go. Athena is now everywhere, just like Kevin Hart. So with that, I just want to say thank you all and handing it over back to Chris. Have a good one.

That was great. Thank you, Roman. Wow, doing live demos. We've all been there before. It's always a little bit riveting to see how it's going to go. And it's neat to be able to share something that's really live with you guys. So we talked about this vision back in 2019. It was on stage at a town hall at Zeta. It was this exact vision. And we've been working on the underpinnings of this for a year. There's no magic to it. This just takes hard work. And I'd be remiss not to say that Roman is a visionary at Zeta, but there's a huge team behind him. There's a lot of engineers in this room right now. Without them, this couldn't come to life. We have some of the brightest people in the world working on this project right now because it's hard. So Roman told you how to start with intent, how it can build UIs for you, how context powers outcomes, and how Athena travels with you. I want to get into a couple of stories real quick about... Conversations I'm having with real customers. I'll start with two. One, I was talking with a customer, and they simply are building out their own stack. They said, guys, we can now build any UI. We can vibe code it. It's a mid-size agency, so they're vibe coding things out. We have no idea how to start building intelligence like you guys have, and we want to activate through. So anyway, you could just make that available to our platform. So we said, yeah. We started with this experience layer. It's going to be embedded in them. In one meeting, we had a conversation. We said, what's your biggest problem? They were able to describe it. And just like you saw the inventory app, we were able to build a new UI for them. When we launched this UI on demand, called it Gen UI last year at Zeta Live, it took probably a better part of a week to build an app, which is still a really stunning pace. And it was built on top of our infrastructure. Now, we can build these same apps in minutes, which is remarkable. It means I can go sit with anybody in any industry and say, what's your biggest problem? And as they're telling me, I can type it in or Athena can listen. And Athena can say, great, I think this is the best way to connect all of your data, all of your context, all of your needs, and all of your outcomes together, which is remarkable. So once we had that in place, Athena went and it pulled together these pieces behind the scenes of infrastructure, and it gave us the outcome we want. Another example is I was talking to a brand who works in Zeta's platform, and they've also inked a big deal with ChatGPT, and that deal started with internal organizational optimization. They wanted to change their workspace. They wanted to change HR practices, wanted to change sales, but people are in ChatGPT. And I said, man, it would be great if they could work in either place and get the same outcomes. And people that aren't marketers, that want to understand how maybe sales is driving inventory, can just ask ChatGPT. So we started there. After a few questions, they wanted two different apps that were purpose-built for them. They could show up in Athena or in ChatGPT, as you saw those online charts. And Eureka, we were done. This changes the cadence at which business is done. Later today, I've got the pleasure of leading a panel on four deploy engineers, FDEs, and we'll have a spirited conversation about how organizations culturally need to change, but expectations of technology and our business need to change as well. This is like the biggest thing to happen since the move to cloud computing. This isn't a small moment in time, and the technology that we're sharing with you today, I think, sets a pace for new, not just expectations, but no entire affordances in terms of design. So, Advertising, I want to talk about briefly. This is an industry that I believe is changing very, very quickly. Some people... Some people are leading this change. Some people are hoping it won't change. At Zeta, we needed to respond to this. And about a year ago, we started on our agentic ad tech platform. And it has a lot of different components. I'm going to share one with you right now. I'm sure people in the audience will be in a lot of conversations today to see what else we're building. As the expectations of advertising change and there's an agentic world and the world of traders and tactics and light items all change around, we wanted to be able to respond to a cookie. With Athena OS, we've been able to build this very quickly. So here's a quick video talking about Athena for advertisers. Now, it starts with intelligence. It always has. That's what Zeta does. You have intent. You ask a question. Intelligence comes. You discover outcomes. Then you get to go through and refine, define what those outcomes mean. You can forecast them using traditional machine learning in the background, move on to creative tools that are all integrated. And then finally, you activate, measure, and learn. When I said earlier that disconnected tools create disconnected outcomes, to do this flow today for the average company, you're probably working with six different vendors. Each one's a hop. Each one might be a day, a week, or a month. Next, loyalty, which is an industry that's even more near and dear to my heart. And I asked the crowd, I probably have asked this in other crowds as well. Has anybody here been at like JFK and they're waiting for their GD plane to take off and it's been delayed for like the fifth time? And then you get the notification. Your airline finally messaged you and you think you're going to find out when the plane's going to take off. You click on it and it says 50% off trip to Cabo next spring break. Has anybody had that happen? I feel like that happens to me every time I get delayed, and it pisses me off, because I spent a lot of money with these airlines, and I've been traveling with them for a long time, and they can't figure out what my basic needs are. When I'm in crisis, I need to get home. I'm probably hungry. I'm probably tired from a really energetic week at Zeta Live. So we need to change loyalty entirely. The systems need to be connected beneath the layer. So another quick video to share with you guys, Athena OS drives loyalty. Again, starting with context and the questions you ask, Athena needs to be able to understand what loyalty is natively and use the data cloud to drive those indicators because if you don't see somebody outside their four walls of how you're looking at them, you're never going to understand them. You can look at competitors. You can look at how competitors are winning share of wallet against your most loyal customers. And then it drives into creative and execution again. Where loyalty breaks down the most is at the data layer. It tends to be a destination unto itself. I was talking with a gentleman last night, and he was arguing that loyalty identifiers need to be completely different than their email identifiers, and they shouldn't even be integrated at all. I think that's a constraint born of bad technology, not a constraint born of great outcomes for consumers. The last one I want to share with you that I'm really excited about is Athena inference model. Our R&D team has been working about this for a while. We believe, as David said this morning, if you can own the infrastructure, you can own your destiny. And we have a number of initiatives in infrastructure. We've set out with both NVIDIA and Fireworks to build out Athena inference models. These models are fine-tuned. We've always had the data cloud. We basically were able to encode the data cloud into our... Models. And we get better outcomes with higher degrees of context. It's faster. It's cheaper. And it hits great benchmarks. These are against SOTA models, like the best models in the world. This is how much faster and more accurate it is. And we're just getting started. In 2027, we're going to deploy a cadre of models. Every individual or every brand isn't going to have one Athena inference model. They'll probably have dozens or hundreds all trained for the bespoke outcomes of that unique brand and what they need. All right, so Athena OS. I told you it's real. We're entering beta, and we need your help.

Thank you.

These types of agenting interfaces, we don't have a good affordance for. Affordance is like a design term. A door has an affordance. You see a doorknob, you turn it, you don't expect a trapdoor to open, you expect a door to open. Expectations of UI. All these affordances need to be designed. And we're doing our best right now. We think that we're on to something, but we're going to need your feedback. So I've hopefully made enough time for somebody to take a picture of the QR code. We want people to sign up for this beta. We're going to let you in in cohorts so we can learn a little, make improvements, bring in new people, make improvements, so that this is live GA, general availability in Q1. Nij and I, for those that have been to ZetaLive before or know Zeta, know that Nij and I are very close friends, often found together early in the day working and late at night, maybe having a cocktail and some Thai food. We've always believed that you can't disintermediate technology from data. In an AI world, you can't. AI without data is just kind of a blank vessel, an empty vessel. AI purpose-built around data makes for really stunning outcomes that are vastly differentiated. As we move into the world of enterprise intelligence and business intelligence, we have more business data that drives our operating system. We get new outcomes. So I will invite Nij, my esteemed friend, colleague and friend, up to the stage.

All right. First of all, Chris and Roman, that was awesome. I am so inspired by how far we've come and so excited about what's to come next. Chris and I have been working together for about 14 years, nine of which at Zeta, and this has been a vision for us for a very long time. Now, as I get into the presentation today, in this world where we think about context is king, which you hear a lot in the market these days, I'm going to start with one fundamental question. What does Athena OS need to know to provide you with an unparalleled first-mover advantage? This is the key question that drives an operating system forward. And I thought it'd be a good idea to connect two cities that are near and dear to my heart in a short story that you may not have heard before. So back in 1852, October this month, there was a great race that set off from New York City, 15,000 miles, all the way to San Francisco. Now, this typical passage was about 110 days, and there were four boats in this race. There was the Flying Fish, the Wild Pigeon, the John Gilpin, and the Tradewind. And these boats were very similar to every boat that had come before them. They had no engines, no radios, no satellite imagery, but they had one very unique advantage. They were all armed with the wind and current model. That gave the captain something they had never had before, based on thousands of earlier captain voyages. Now, every captain reacted differently. Captain Nichols of the Flying Fish was well known as being the best captain in the race. He had the fastest boat, the most experience, and he decided to put the model aside and say, I have the experience, I'm going to do it myself. He got caught in four days of virtual standstill, and then he finally said, you know what? There's something here. I need to turn to the model. And as soon as he did that, the winds changed, and he actually won the race in 92 days and four hours. He passed the closest competitor around Cape Horn, and then he came into San Francisco. So, the best captain in this scenario was no longer limited by his or her own experience. There was something new, a model. And that same change is coming for AI. The best AIs in the world also need to know the living world. This is a critical and foundational piece to the way that Zeta thinks about Athena OS. We all know the gentleman on the right. We see him very regularly. We hope the one on the left will come to Zeta Live next year. If you're not familiar, Jensen has a very strong view on physical AI, and he has this quote. He says, the next wave of AI is physical AI, AI that understands the laws of physics. AI can work among us. And in the factory, Where NVIDIA is playing, that means that this AI can actually do things like seeing live conditions together. It can detect disruptions. It can simulate options. And it can actually forecast and learn from what's happening. That exact change is also coming for marketing technology today. It is not dissimilar. In our world, We've been littered with tools for a very, very long time, and no doubt there's lots of great tools from lots of great vendors all across the world. Audiences, channels, offers, budgets, measurement, optimization. These tools have existed for a very long time. However, Athena OS is bringing together leading capabilities with a view of living intelligence. And that is a big pivot for our entire industry. And when you do this successfully, you can start answering some very key questions. How should audiences adjust to meet consumer psychology, which is changing every single day? How does data inform supply chain? You saw Roman talk about supply chain earlier. Or how does identity improve as individuals and their agents need to be connected in one graph? This is a question that I get very regularly today. How is the identity graph going to change into the future? So, knowing the living world gives you a very serious advantage. The data cloud powers our knowledge of the living world, and it makes many capabilities available for the first time in marketing. So knowing is half the battle, but then actually implementing and doing is where this gets really interesting. The first capability, Athena OS has the ability to remember. We're moving from a state where we're static to one where there's continuous learning, a continuous state system. And this is best evidenced in our new living intelligence profiles. For all the marketers in the room, can you just raise your hand so I can see how many there are? There are a lot of you. And for the longest time, a profile was a person with a bunch of attributes around them. But that's not what a person is. A person is their past, their present, their future. And we contextualize that into our new living profiles as memories, things that have driven you in the past, moments, things that are driving you right now, and motives, things that you're going to be doing into the future. The profile is changing into a living and breathing object, and the data cloud at Zeta is changing into a living and breathing object, not just intent, but memories, moments, and motives. You probably saw the announcement this week that we acquired a company called Senso. Now, there are a litany of GEO companies in the world. We love their approach to AI answers, and we're going to be layering in their technology directly into our GEO solutions. My perspective is that visibility and share of voice should be free to every single Zeta customer. You should not be paying for that. We want to deliver on value where you can start to do things like connecting share of voice. In LLMs, to share of wallet, that's a one-of-one Zeta capability, remediating gaps when there's something that is missing from you in the LLM context, a one-of-one Zeta capability. So our GEO suite is about to get a lot better. We're also launching new commerce diagnostics. Imagine access to billions of annual transactions directly within Athena OS, where you can start asking questions like, is your AOV or LTV up or down? How about your release purchase rate? We recently helped a gas retailer understand what products to add to their actual storefront to actually drive the AOV up based on what competitors were doing. So commerce diagnostics and the ability to look at a corpus of transaction data happening across the US, now native to Athena OS. Live performance coming from conversion pathways. For the longest time, we've had a very, very unique view to measurement. In our new view, you can combine paid media, owned media, and even organic traffic coming from LLMs directly into one reporting environment. We hope the sportswear company understand the contribution value of organic traffic coming from OpenAI to their existing paid media approach. This is next-level thinking where we want to take all of our customers as more moves to the LLM construct. Capability number two, Athena OS moves work forward. Now, you've already seen Roman present a little bit on this, but a key capability here is that we're actually expanding our ecosystem to let you reach more partners than ever before. You likely saw that we announced an acquisition called Digital Audience this week as well. They're a European company, but combined with our Supergraph, we can do some really, really amazing things. We can help to power RMN. Do you have audiences that you want to put into a marketplace construct? Do you actually want to syndicate the places that are not Zeta as part of your orchestration chain? This all becomes available directly through Athena OS and with the addition of the digital audience team, who we are thrilled to have now within Zeta. Our number one app, Customer Pulse. I look at the metrics on how many of you use this. I'm always blown away. It's getting a full upgrade with Athena OS. We have AI-powered summaries. The UI is going to be way more generative, so you can direct how you want the reports to look. And there's more flexibility now to combine your first-party data with Zeta data to explore exactly what's moving the needle. The same thing is coming for our competitor Pulse solution. Athena OS turns competitor intelligence into growth actions directly for you. You can benchmark across 3,000 brands that are directly integrated into the platform, and you could see exactly how you are doing at any point in time versus your competitive set. You can also find the exact customers through Competitor Pulse that are likely to move and share shift from your competitor to your brand. You can identify these types of audiences in the intersection of Athena OS and what's coming on Competitor Pulse. Capability number three, Athena makes intelligence borderless. Roman demonstrated how this works in OpenAI. Many of you have heard about our relationship with Palantir. We have now integrated our intelligence directly into the Foundry environment. If you are a Foundry customer and you have your data resident there, you can take advantage of Zeta's intelligence, you can take advantage of Athena directly within Foundry, and we have that being demoed upstairs as well. Palantir is amazing at business ontology, the digital twin of a business. Zeta is amazing at customer ontology, the digital twin of a consumer. When you bring those together, you unlock something that has never been seen before in marketing technology. We're also making changes to our relationship with Snowflake. For the longest time, I get the question, can we please model Zeta data within the Snowflake environment that we currently operate? And for the longest time, my answer was no. But now, we are actually making Zeta data available in an aggregate format directly through Snowflake's Model Studio. So you can build your models there, your data scientists can decide how to cut and slice the data, and then those models can be pushed back to Zeta. This is a step forward in our entire working relationship with Snowflake and how you actually operationalize with Zeta. And Roman talked about OpenAI, but we actually are also making Athena available in places like Slack or Teams. My team, for example, and I see a bunch of you guys in the room, access our data cloud through Teams every single day. So sometimes they go to the ZMP, and sometimes they're just in Teams asking questions and generating responses. So this is a really nice feature, and we're going to be releasing this as well. Capability number four, Athena acts before the moment passes. One example of this is something we've done recently with a specialty retailer, and we learned that they were dominating Mother's Day, but they had tons of upside on weddings. So are you actually able to look at share of occasion analytics and decide where and how you should allocate budget around the days that matter most for your brand? Where you have advantage, where you have share shift opportunity, share of analytics, share of occasion analytics is really bringing that to the forefront directly within Athena OS as well. We're also upgrading our entire B2B suite. Now, with the new partnership we have with ZoomInfo and additional partners, we are revamping the buyer pulse experience within Athena OS. You can now do things like technographics. You can understand the deep composition of the vendors that your targets are using. We also take an ABM list, and we allow you to extend that with Athena Intelligence to tell you who you should be targeting that's not on that list. A really nice feature if you're doing B2B marketing, and this is all going to be directly enabled within the OS. And of course, we're still doing our incredible linkage of B2B data with B2C data to, again, find individuals where they are reachable, and where they are most likely to respond. Capability number five. Perhaps the most important capability. Athena learns and evolves. This is a moving, living system. Every signal, every decision, every outcome strengthens what comes next. One example of this, and you've heard Roman as well talk about the ZBI, today's data business intelligence, is that an enterprise came to us and said, what demand side investments are truly creating incremental growth and would do that for us in the next three to five years? So we looked at all the things, locations, product launches, paid media, CRM, loyalty, and we gave them a spending plan over the next three to five years to maximize their enterprise intelligence on where to deploy their dollars. So this is Zeta data expanding into new realms and being made available in places where it's never been available before. Now, you're all familiar with the data cloud at this point, but we have been working really, really hard to continue to make this the best-in-class system for you. At this point, every single quarter, we are seeing over $100 billion in transactions flowing through our data cloud that we're now turning into commerce intelligence and other tools for you. Our intent signals, even in a world where LLMs are dominating the discovery stage, have gone up 1,200% year over year. We are seeing so much intent across our network that have owned and operated properties and publishers that we're using to then power into intelligence. And our ID graph has expanded to six new markets, and we're seeing resolution rates of over 100% versus what we saw last year. So take advantage of these. We're going to keep our foot on the pedal and continue to make the data cloud the best-in-class capability bundled with the best-in-class AI. Now, everything that Chris, Roman, and myself, we showed you on stage today, these are all available in the demo stations, and I really, really encourage you to go and take a look at all of these tools. We have one demo track around Athena OS. We have another one around Athena for brands, a third around Athena for agencies, and then we have one around intelligence everywhere. And we have all of our product and data cloud people up there, the SMEs, and they are eager to show you everything. I will close today where I started. I asked the question, what must an operating system know? And ultimately, the operating system is more than a command center. It's more than a control plane. It has to know you and your ambitions. And the word ambition is important here. Because if we can deliver on that, then I know that Athena OS will be successful, and you will be successful in this brave new AI world. Thank you very much.