Grant Straker Co-Founder, MD, CEO & Director Welcome, everyone, to the Straker Limited Half Year Results Presentation. I’m Grant Straker, the Co-Founder and CEO. And with me is David Ingram, our Chief Financial Officer. This presentation should take around 12 minutes, and we’ll then open the floor for questions. [Operator Instructions] We are here to discuss our H1 results, but the headline isn’t just the numbers. It is a confirmation of our new model. The renewed $28 million IBM contract for our core services gives a solid base for the next few years. And today, I’m going to show you the blueprint for our AI-driven growth that our new partnership enables. Here is our narrative for today. We are executing a strategic planned pivot. We have built an R&D engine we call the small language model factory. We have validated that technology with IBM. And most importantly, we are transitioning into a new model built for high-margin, scalable growth. Think of this as crossing a channel. On the left, you have the old world of legacy translation services. It’s predictable, but slow, low margin and relies on hiring more people to grow. On the right is the AI native future. It is fast, high margin and scales with compute power, not headcount. It is also deployed through ecosystem partners, reducing our cost of sales. Our H1 results reflect the necessary investment to cross this bridge and secure our future with IBM and watsonx. Let’s put the H1 performance into strategic context. We are sitting on $8. 7 million in cash with 0 debt, which allows us to fund this pivot from a position of.
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