Q2 2026 Adcore Inc Earnings Call
Speaker #1: Good morning once again. Thank you for joining us—great to see this turn up. earlier this morning Atcore released its Q2 2026 financial results, and today we'll be walking you through these results and providing you an update on the ongoing company initiatives.
Speaker #1: First of all, you might see some familiar faces on the call today. I'm Martijn, Chief Partnership Officer here at Atcore. Joining me today is Omri Brill, Atcore's CEO and founder.
Speaker #1: And also Amit Konforty's, Konforty Atcore CFO. And also Kobi, our RBIF, will be here to present some great insights on our AI studio. For the agenda today: before we begin, we'll go over some forward-looking statements you should be aware of while listening to this call.
Speaker #1: Followed by the CEO opening remarks. And the latest innovations on our AI studio, done by Kobi. And then the CFO financial highlights. Finally, we will conclude with a Q&A session.
Speaker #1: If you have any questions throughout the call, please use the submit a question feature here in Zoom, and we'll get to those at the end of the call.
Speaker #1: Before we begin, I will give everyone a moment to review these statements. Please bear in mind, when listening to the call today, that the management team may use forward-looking statements which are inherently uncertain in nature.
Speaker #1: All right. And with that, I would like to pass the floor to Omri for the CEO's opening remarks. Omri, the floor is yours.
Speaker #2: Thank you very much, Martijn, and good morning, everyone. It's my pleasure to discuss the company's financial results for Q2 2026. I'm going to give, let's say, the high level of the results.
Speaker #2: Obviously, covering some of the stuff that we've been doing—innovation, and working during the last quarter. Obviously, we have some nice presentations to show you on the back of my remarks.
Speaker #2: And our CFO, Amit Konforty, will dive into the numbers in more detail after that. So let's start with it. So, all in all, Q2 was a very strong quarter for us.
Speaker #2: Top-line revenue grew by 10%, gross profit even doubled up. This grew by almost 20%. So we see really positive trends. And when we look at the numbers, there's also comparable numbers.
Speaker #2: You will see that this is wasn't the usual quarter for us. So if we look at top-line revenue, it's amended to 7.2 million in Q2 2026, compared to 6.5 in the previous year.
Speaker #2: Again, 10% year-on-year growth. And gross profit, 3.7 million in Q2 2026, compared to 3.1 in the previous year. You can see that the gross profit was almost as strong as Q4 2025, and that's Q4 is, let's say, a robust quarter for us.
Speaker #2: So basically, in Q2 we've been able to achieve almost as strong numbers as Q4, and that tells you a lot about how unique in that regard this quarter was really was.
Speaker #2: And if we look at, let's say, quality metrics, what the company considers quality metrics, we can still see that, again, gross profit 3.7, almost 20% year-on-year growth.
Speaker #2: Cash position still solid at 4 million. During this quarter, again, you see some seasonality, right? In Q4, the company usually acquired more cash, and then the cash position is going down as the quarter move along.
Speaker #2: But again, there's some things that is part of, I would say, the normal course of business for the company. And so to discuss numbers, high level, again, 7.2 million top-line revenue, 10% increase.
Speaker #2: Gross profit 3.7, almost 20% year-on-year increase. Email revenue grew by 12%, which is solid. And North America saw a really nice rebound. Two grew to 1.5 million, almost 30% year-on-year.
Speaker #2: Increase. And that's on the back of, I would say, a soft year that we saw in 2025 for this region. So basically, this is exactly what we anticipated.
Speaker #2: We say that we would expect to see some stabilization starting in the beginning of the year, and now a nice rebound moving in this last quarter.
Speaker #2: So that's important for us. If we look at edge one, so again, very strong start of the entire year. Total revenue almost 16 million.
Speaker #2: 16% year-on-year growth. That's impressive. Gross profit grew to almost 7 million. Again, 10% year-on-year growth in, I would say, year-on-year. APAC 23% year-on-year growth.
Speaker #2: That's massive. Email 8% year-on-year growth. And North America, again, after a softness that we saw in the beginning of, let's say, the year and 2025, 6%.
Speaker #2: So back in positive trend. So all regions actually are growing in edge one 2026. And that's exactly how we would like to see it moving forward.
Speaker #2: And now I would like to discuss a bit more technology and innovation. In the last earning call, we already discussed that we built and shipped the first AI agent for proposedly.
Speaker #2: The inbound agent. And basically, you can think of the inbound agent as a receptionist. So that's the guy that's answering the phones that are coming to the companies, that's answering the emails, that can sit on the WhatsApp, on the Facebook Messenger, all different channels.
Speaker #2: And basically, one agent that can do the work of one person, of 10 receptionists, or even a team of 100 receptionists. So that's all done by this agent.
Speaker #2: But it doesn't stop in just answering questions and giving information. It can literally send proposals. It can send payment requests, tickets, you know, sell tickets.
Speaker #2: So this agent can do everything. They can do an OMRAN, can start a conversation, send a proposal, and make sure this proposal is signed, and it doesn't matter which channel we're talking about.
Speaker #2: It can be done by email, it can be done by the phone, it can send you an SMS link with the proposal. Everything. So that was the first agent was already built and shipped in Q1 2026.
Speaker #2: And then we have, we say that we committed to build another two agents during Q2 2026. But guess what? What we believe we built for.
Speaker #2: So we built and shipped the outreach agent, which is basically like an SDR. This agent can go over or walk over, let's say, old leads, cold leads, and basically make them warm again and see if there is, like, a sell opportunity to this database, for example.
Speaker #2: Deal agent, taking into like he started to play when the proposal already sent. It's like a salesperson into the follow-up. He makes sure that everything is clear about the proposal.
Speaker #2: Maybe offer some kind of discount, but basically this agent is responsible for the team to get closed. End customer agent, taking is responsibility to start when the offer already closed.
Speaker #2: Basically, he makes sure that the client is happy, satisfied, gives him updates. He can do collection if needed. He can do upsell and cross-sell.
Speaker #2: So everything that is more or less, I would say, post-sell type of activity. Again, between the inbound, outreach, deal, and customer agent, you have your entire sales team.
Speaker #2: And that's not like a slogan. That's what is already up and running and a reality on the ground. And we are super happy about it.
Speaker #2: Actually, the fifth agent is AI Studio Agent. We're going to cover it in a bit more detail. So I think in proposedly, in six months' time, we did a complete platform, I would say, flip over the platform from a workspace, document type of platform, to agentic-first, agent-first platform, which workspace and basically documents are now tools in the agent's toolbox.
Speaker #2: So basically, it's a complete, I would say, upside down first platform used to be. So it's not like agents are serving the documents now.
Speaker #2: The agent basically, the documents serving the agents. And that's a complete, I would say, a complete evolution of where the platform is today. And that's a big promising moving forward.
Speaker #2: And we can discuss it a bit more detail if needed during the QA session as well. And now the next thing is AI Studio.
Speaker #2: AI Studio is already up, running, and generating some early revenues. We have really good traction and good signs for good market fit about this product.
Speaker #2: Kobe will give you a quick demo about the latest and greatest. What we've been able to build and ship during the last quarter in AI Studio as well.
Speaker #2: So I think, like, stay tuned for Kobe's presentation. And I think, like, that's covered, I would say, the highlights of the technologies that we've built or working on during the last quarter.
Speaker #2: And last but not least is comparable. Current share price is 15 cents Canadian dollar. We see a very big upside, you know, if you look in EV to gross profit compared to comparable.
Speaker #2: Almost 900%. Let's put the target price at around 1.3 Canadian dollar. It's a big gap from where we are today. And ideally, we would like to see the gap is starting to close.
Speaker #2: So basically, the company I expectation from the future, where this company is going to, this high level of innovation, maybe like never before in the history of the company, and we are very optimistic of the level of maturity.
Speaker #2: That our product achieved already. And I think, like, H2 is going to be an interesting time for us, you know, making sure that basically this app are ready, generating revenue, and we can take them to the next level.
Speaker #2: With that, I conclude my remarks. And I will add the floor, I guess, now to Kobe.
Speaker #1: Thank you, Omri. Hi, everybody. I'm Kobe. And I'm leading the go-to-market of the A app, AI Studio app. Basically, in charge of generating revenue.
Speaker #1: Out of the platform. Now, I know in our last earning call, you have seen the app already. You got excited of seeing how cool it is.
Speaker #1: So it's actually became even cooler. In the last month, we actually added some really, really cool and really smart features that we can see from our client that are already using it, how excited it is, and how it's going to save a lot, a lot of time and a lot, a lot of resource.
Speaker #1: For our partners. So I'm going to show you today, I'm going to focus on how we generated a special flow that allows users to create any kind of creative format from a single static banner.
Speaker #1: It could be a banner that you created on our platform. It could be a banner that you created by yourself. But in a single static banner, you will be able to generate all the way to motion banners, moving on to a UGC, user-generated content, you know, like influencers and TikTok videos.
Speaker #1: And all the way to a TV production CTV production commercial. Only in a single click. Sounds a bit like magic, but it is. It's already here.
Speaker #1: It's already working on our platform. Let me share my screen to show you the full-on example. So actually, I started putting in a brief, a very simple one-line brief saying, generate me static banner for a super promotion sale 30% off on sunny, sunny break.
Speaker #1: It's a cosmetic sunscreen brand, giving a bit of glow, attracting women. So the platform generated four different design concepts. By the way, that's itself, if someone knows a bit about how advertising studios work, takes about five, six hours work.
Speaker #1: That took me less than a minute to generate. So they generated those four different creative static. Let's say I'm in love with this one.
Speaker #1: This one is my favorite. So I'm just clicking here. And with that single click, I can create a motion banner, a UGC, user-generated content video, or a full-on commercial.
Speaker #1: Let's see how it actually looks like. So I'm clicking the motion banner. Let's see the end result. I'm getting this. So interesting fact about motion banners.
Speaker #1: Actually, what we know from research and our own experience, that motion banners are able to double the conversion rate of a campaign, reduce dramatically the cost per conversion, and generate just much better results.
Speaker #1: Again, there's no need to produce, there's no need for an AI motion design, sorry, for a motion designer to generate those things. Clicking a button, anyone can do that really.
Speaker #1: I'm not a designer. And I've done it myself. So take this motion banner. I want to even challenge it even more. I want now to go live on TikTok, for example, with an influencer's talking about this amazing product.
Speaker #1: I click user-generated content, and I get this amazing thing. What it actually did, it took the person, the girl from the banner, generated, there is an avatar, and was able to generate a UGC, a full influencer video in a click of a button.
Speaker #2: I always forgot to reapply sunscreen, honestly. Now this sunny SPF 50 stick lives in my tote. Twist, swipe over makeup, every two hours. I always.
Speaker #1: We're talking here about a video that usually costs a few thousands of dollars to produce. Takes days and finding the creatives and everything. And come on.
Speaker #1: For me, it's magic. I don't know what about you guys. Moving on, I want to challenge it even more. I want to go live now on a CTV campaign, YouTube campaign, with a commercial, full-on commercial addressing general audience.
Speaker #1: That is possible as well in a single click.
Speaker #2: Bag. Palms. Sunlight. Swipe it on in seconds. SPF 50. Glow still going.
Speaker #1: Looks amazing. I don't know. Now, let's put it this way. That using the platform, it's super, super easy. But this month, it became even easier for our users to use it.
Speaker #1: We added our AI agent, which is embedded within the Atcore AI Studio app. Can just ask whatever you want, generate a banner, generate a commercial, generate a picture, whatever you want.
Speaker #1: You can use the AI agent to do it for you. Without saying too much, just say us what you want to be in the banner.
Speaker #1: And the AI take it from there. You know what? We want to you're even more lazy than we think. You don't have any strengths.
Speaker #1: You don't even want to leave your own AI agent, the AI program that you are using. I'm using Claude. Some people using ChatGPT. And you want to use our platform to that AI platform.
Speaker #1: Simple it is with an MCP, with our new MCP connector. You can just go in, connect it to ChatGPT, connect it to Claude, whatever AI you're working on, saying, create a banner with Atcore AI Studio, but just add the brand name, what is the discount.
Speaker #1: And it's automatically generating in a click of a button. You get a full set of banners and, of course, from that, again, you can create a UGC, a commercial, and so on.
Speaker #1: So obviously, bottom line, we're dramatically improved the platform. We're continue working. There's a lot of things sorry, I'm going to stop the share. There's a lot of things coming in this month and already in development.
Speaker #1: But as you can see, every single day, this app is improving. There are already active paying clients for the app. And a lot of people are just on the step of joining in.
Speaker #1: So more to come. Stay tuned. Thank you.
Speaker #3: Thanks so much, Kobe. It's amazing to see how much you've developed since the last time we met at the Q1 2026 earnings call. So it's an amazing progress.
Speaker #3: And I love to hear a little more on the next update. With that, we'd like to pass it on to Amit Konforti, CFO of the company, for some CFO highlights.
Speaker #3: Financial highlights.
Speaker #4: Thank you. One second. OK. So good morning, everyone. Before beginning the financial overview, I would like to remind you that the following discussion will include gap financial measures as well as non-gap results.
Speaker #4: All amounts will be presented. It can end in dollars. The second quarter of 2026 showed continued momentum with revenue growing 10% year over year and gross margins improving to 51%.
Speaker #4: This is in line with the overall first-half performance, which also reflects higher revenue and gross profitability. Let's review in more detail. For the three months ended June 30, 2026, with delivered revenue of $7.2 million, compared to $6.5 million in the same period of 2025, an increase of 0.7 million or 10%.
Speaker #4: Gross profit for the three months ended June 30, 2026, was $3.7 million, compared to $3.1 million in the prior year, an increase of 0.6 million or 19%.
Speaker #4: Gross margins for the three months ended June 30, 2026, were 51%, compared to $47% in the same period last year, the increase in margin is due to the increase in revenue and the change in client mix.
Speaker #4: As for operational expenses, R&D expenses for the quarter were 0.6 million, compared to 0.5 million in the prior year. The slight increase in expenses was primarily driven by increased use of AI-related tools.
Speaker #4: SG&A expenses for the quarter were $3.7 million, compared to $3 million in the prior year, an increase of 0.7 million or 22%. The increase was mainly driven by payroll-related expenses and was partially impacted by foreign exchange rate fluctuations.
Speaker #4: Operating loss for the three months ended June 30, 2026, was 0.6 million, compared to 0.5 million in the same period last year, net loss for the three months ended June 30, 2026, was 0.8 million, compared to 0.4 million in the same period last year, an increase of 0.4 million.
Speaker #4: Revenues and gross profits. As shown on the left side of the slide, Q2 revenue grew 10% year over year to $7.2 million, with gross profit increasing 19% and gross margin improving from $47% to $51%.
Speaker #4: This is driven, again, by changes in client mix. Looking at the first-half results, in the middle, we observe a similar trend with revenue growing 16% to 15.7 million and gross profit increasing 10% to 6.8 million.
Speaker #4: This is consistent with the full-year trend on the right, which highlights ongoing annual growth in both revenue and profitability. As for the geographical revenue breakdown for Q2 2026, APAC revenue continued to grow year over year, EMEA revenue grew 12% year over year, primarily due to new client acquisition and expanded activity from existing clients.
Speaker #4: North America revenue rebounded after a slower prior year, delivering a 27% year over year increase. In terms of financial position, we had cash and cash equivalent of $4 million as of June 30, 2026, compared to $10.3 million at December 31, 2025.
Speaker #4: Total working capital amounted to $3.1 million, compared to $5.1 million at December 31, 2025. As for the liability side of the financial position, we can see that the company is still debt-free.
Speaker #4: Adjusted EBITDA. The quarterly non-gap results reflect adjustment for the following items. Depreciation and amortization share-based payment and other unusual and non-recurring items. For the three months ended June 30, 2026, adjusted EBITDA was $41,000, compared to $155,000 for the same period in 2025.
Speaker #4: The decrease in adjusted EBITDA was mainly driven by the increase in operating loss. With that, I will turn the call back to Martin.
Speaker #3: Thank you so much, Amit. With that, we arrive at the Q&A portion of this call. We've got a couple of questions in. The first one.
Speaker #3: Direct to you, Omri. It's about the gross margin expansion. The question is, gross margin expanded nicely to 51% from $47% year over year. We have growth profit growing almost twice as fast as revenue.
Speaker #3: Could you walk us through what's driving that mix shift and how much more room you see keep expanding the margin?
Speaker #5: So it's a good question. I would say, A, first of all, I would say it's go-ending end, right? If you see top-line revenue growing, gross margin improving, so one can expect gross profit will follow.
Speaker #5: And actually, it followed quite nicely, almost doubled the growth that the rate that we saw for top-line revenue. So I think the company, we have different revenue streams, and we're focusing on the revenue streams that are more profitable for the company coming with better margins.
Speaker #5: And I think that stack of strategy is proving itself. So you see a nice, I would say, improvement in the company gross margin, and we expect to see this trend carry on onward.
Speaker #5: I would say with some exceptions. Obviously, Q4 can have its lower gross margin traditionally because of its spiking cost of revenues related to holiday-related spending.
Speaker #5: So I think, but the trend, as a trend, I would say, is definitely looking more positive, and we expect gross margin to remain solid.
Speaker #3: Thank you, Omri. Following question is regarding North America. It's encouraging to see North America bounce back with 27% growth after a softer 2025. What's behind that turnaround, and do you feel good about that momentum carrying into the second half of this year?
Speaker #5: So I think maybe Amit can shed a bit more light, but I think most of the growth that we saw in North America is coming from actually existing client activity.
Speaker #5: So in improving this activity, I would say. And that's something that is very encouraging for us. We see, let's say, the momentum is shifting.
Speaker #5: And it's like these clients are now growing again, growing the spend, and basically that's always positive sign. So I think this is one thing.
Speaker #5: Also, bear in mind that moving towards and seeing H2, we still have better numbers to present, because the comparables should be working in our favor.
Speaker #5: Soften 2020-25. So I think, yeah, we are more positive regarding North America, and we expect to see this type of behavior. We expect to see it stabilize and then to see it going back into I would say growing trend.
Speaker #5: And I'm happy that we've been able to achieve it in Q2. And we are hoping to preserve this type of momentum carrying into the second part of the year as well.
Speaker #3: Great. Thank you, Omri. The next question is about our AI development and development in general. You committed to three autonomous agents by Q2, and actually delivered five.
Speaker #3: Which is a nice execution story. What kind of early customer feedback or usage signals are you seeing from proposed lease agents and also the creative agent on the AI studio?
Speaker #5: Okay. So first of all, if we miss, we might as well miss over-deliver than under-deliver, I guess. But I would say, if we're talking about proposedly, obviously we have four different agents.
Speaker #5: Now running live, inbound agent, outreach agent, deal agent, and customer agent. And we see a good, I would say, market fit from early beta clients.
Speaker #5: So they are excited about what this agent capabilities are, what type of issues they can solve for them, for their organization. And I think, in general, we see, okay, there's this definitely a place for the solution like Escrow is building in the market.
Speaker #5: And actually, it's quite a unique solution in the market because maybe everybody more or less can I would say, build an AI agent nowadays, but let's say AI agent that is integrated to the different workspace and platform and document and can generate revenue from A to Z just from visitors.
Speaker #5: That's quite a unique sales story that only Atcore possess. And I think that puts us in a very different I would say, position from other vendors in the market today.
Speaker #5: So AI, like proposedly, I'm definitely happy from the early reactions that we are getting. And maybe Kobe can elaborate a bit more about the reaction that he see from early user of AI studio with regards to the agent.
Speaker #2: Of course. As far as the AI platform in general, we have already started to go to market. We have some few. We actually have a few, quite a few.
Speaker #2: Working partners already. The feedback, of course, it's about saving time, saving resources. And I just finished a call, actually, with one of our partners who are using the connector to Claude, actually, with our agent.
Speaker #2: And she's saying that it's never been easier for her to have generate creative. She's not counting. She doesn't need to count on our agency anymore to send a deliverable.
Speaker #2: They don't need designers. They don't need to pay extra. And what they actually paying is less than a day work of a designers, and they're getting a full stack of creatives that can take a full month to work on.
Speaker #2: So obviously, no complaints, only really just compliments on how good the platform is right now.
Speaker #5: So that's the best type of stories, right? The client success story that are happy with it using the agent. I think that's exactly why we are working through our building this type of solution for the client to give us this type of feedback.
Speaker #5: So that's amazing. Thank you for sharing, Kobe.
Speaker #2: Thank you.
Speaker #3: Amazing. Thank you, guys. The next question is probably more for Amit. As it's a financial question, the question is, you mentioned the cash flow and working capital, the client is largely seasonal and should reverse in H2.
Speaker #3: Could you please give us a bit more color on the expected timeline for that recovery?
Speaker #4: Yeah, definitely. So basically, historically, Q4 is like the strongest quarter of the year for the company. So we do expect to see a recovery.
Speaker #4: The decrease that we see now in H1 is partially payments for Q4 of last year. So it's something pretty usual in the company.
Speaker #3: All right. Thanks for elaborating on that. The next question either for you, Amit, or Omri. It's about the efficiency plan rollout. Omri mentioned there's plans for 15% to 20% OPEX reduction plan.
Speaker #3: Question is, could you share more on the expected timeline? If there's any one-time implementation cost, and which areas of spend will primarily be targeted?
Speaker #5: So I think the biggest I would say line item of expenses for the company is obviously employee cost, right? So that would be the first place that we need to tackle.
Speaker #5: I think we saw some ad wind with regarding Amit mentioned it currently exchange flowations that basically didn't work in our favor during H1 2026.
Speaker #5: And that's something we need to take into we need to take actions. So I think we are planning some employee cut-off or reduce the numbers of employees.
Speaker #5: That's one. Looking at other lines of expenses the company are having, whether it's AI token and other things that basically consuming a large budget of what the company is spending right now.
Speaker #5: And I think all in all, in terms of timelines, we want to do the majority of, let's say, cut effort or saving effort during Q3 2026.
Speaker #5: So basically, we might have some carry-ons, but the idea is to enter Q4 2026 as far leaner and slimmer company with, I would say, ideally GNA cost SG&A cost draw by 15%, 20%.
Speaker #5: That's the goal for the company.
Speaker #3: Great. Thank you, Omri. I think we have room for one or two more questions. The next question is about balancing growth and profitability. Omri, you mentioned to keep adjusted EBITDA positive, while simultaneously investing in a fairly ambitious agent build-out.
Speaker #3: How are you thinking about that balance between funding, innovation, and protecting profitability as you head into the second half of 2026?
Speaker #5: That's actually a very good question because obviously, there's AMRES almost now between different AI companies, right? Developing the AI agent, making sure that to grab as much land as you can.
Speaker #5: And I think that's not the time to slow down or to stop. That's definitely so I think definitely, definitely we need to move. And we are moving fast.
Speaker #5: We already proved it, right? We're going to ship bid and ship three agents by the end of Q2. We bid and ship five different agents and so we definitely prove already that we know to execute and execute fast, which is great.
Speaker #5: I think but that's one side of the story. The other side is that, like you say, we need to be monetize the company financially.
Speaker #5: Financial position, making sure that we are not overspending. And basically, one, keep another eye open to that front. So I think there should be a balance between the two.
Speaker #5: And the company already proved historically that we know how to do it and we know how to do it quite good. So I think I'm pretty confident, I would say, that we can be able to continue to balance between these two, I would say, conflicted sometimes efforts.
Speaker #3: Great. Thank you, Omri. That brings us to the last question for today. Which is the first half revenue grew 16% and the gross profit grew 10%.
Speaker #3: So strong first half overall. How much of that momentum do you expect to carry through the second half, which you flagged as seasonally your strongest?
Speaker #5: So that's another good question. I would say, A, definitely very strong start of 2026, right? Top line revenue, midline revenue, all of them move in the right direction.
Speaker #5: So we'll definitely see some tailwind for that regard. Like I mentioned before, we had some ad wind regarding currency exchanges and which reflected an increase of cost.
Speaker #5: I would say the plan is to go into Q4, which is the most important quarter for us, as a slimmer company, but maintain the same momentum.
Speaker #5: So if we can balance the two and if we can achieve the two, continue growing the top line and midline revenue, but reducing the SG&A cost, then I think that should be a story to tell, right?
Speaker #5: And put the company in a better position moving forward.
Speaker #3: Absolutely. Thanks so much, Omri. We covered a lot, both on the slides, the presentation by Kobe and also the Q&A session. Do you have any final closing remarks for the audience today, Omri?
Speaker #5: No. So I think all in all, the company being able to present a robust quarter, let's say again, as robust almost as Q4 2025, and that's telling you a lot.
Speaker #5: A lot of innovation going on. Also the level of maturity of both of the flagship app, which is proposed in AI Studio, is far better.
Speaker #5: AI Studio already generating real revenue and basically we have a very strong and robust GTM regarding this app, proposedly Airly beta user, but again, reach a level of maturity which all the AI agents are active and ready to go to market.
Speaker #5: So I think we are definitely entering H2 fast, stronger than we are started H1, which is obviously a good place to be, right?
Speaker #3: Amazing. Thanks so much, Omri. Thanks, Amit. Thanks, Kobe, for your contributions today. And most of all, thanks for everyone joining this call. With that, we conclude the earnings call today.
Speaker #3: Looking forward to see you next time. Thanks so much and have a great day.
Speaker #5: Thank you, everyone.
