Good afternoon, and welcome to the Petco Fourth Quarter 2025 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over ...

Earnings call Petco’s Q4 2025 results showed improved profitability, with Adjusted EBITDA up 10.6% YoY and operating margin expanding 98 basis points. Management reduced net debt leverage from 4.2x to ...