At the Sidoti March Virtual Small-Cap Conference, OPRT highlighted its disciplined and measured approach to growth with a focus on fortifying business economics while identifying high-quality originations. Our outlook is backed by OPRT's focus on improving credit performance, with a targeted 9%-11% net charge off (NCO) rate while managing expenses and growing originations in the mid-single-digit percentage range in 2026. Our 2026 estimates show improving credit performance and continued debt repayment driving a 16% year over year growth in adjusted EPS to $1.58 (guidance is $1.50-$1.65) and 6% growth in adjusted (for certain fair value changes and non-recurring charges) EBITDA to $157.5 million (guidance is $150-$165 million). OPRT is in midst of a management transition, with current CEO Raul Vazquez due to step down from his roles as CEO and Board member. Mr. Vazquez will remain in the CEO role until April 3, 2026, or until a successor is appointed, and will continue to serve as a consultant to OPRT until July 3, 2026, to facilitate an orderly transition. A key near-term strategic priority is the return to risk-based pricing and potentially removing the 36% APR cap for short-term loans and specific credit profiles. We think the initiative could drive net interest margin expansion, weighted toward 2027. OPRT continues to meaningfully improve its balance sheet, with leverage down to 7.2x at 4Q:25 from the 3Q:24 peak of 8.7x. We expect the company to continue to repay its high cost (about 15%) term loan. Shares remain undervalued, in our view, with OPRT trading at about 4x forward earnings, below the 7x-8x peer group and 6x historical average. We maintain our $10 price target, based on an approximate 7x multiple applied to our 2027 adjusted EPS estimate of $1.54. Our moderate risk rating reflects the economic sensitivity of OPRT's borrowing cohort and its credit products.