Operator

Good morning, ladies and gentlemen. Welcome to Yellow Pages First Quarter 2026 Earnings Release Call. Today's conference call contains forward-looking information about Yellow Pages' outlook, objectives and strategy. These statements are based on assumptions and are subject to important risks and uncertainties.

Yellow Pages' actual results could differ materially from expectations it discussed. The details of Yellow Pages' cautions regarding forward-looking information, including key assumptions and risks, can be found in Yellow Pages management discussions and analysts for the first quarter of 2026.

This call is being recorded and webcast, and all disclosure documents are available on the company's website and on SEDAR.

I'll now turn the meeting over to Ms. Sherilyn King, President and Chief Executive Officer. Please go ahead, madam.

Sherilyn King
President, CEO & Director

Thank you, Marvin. Good morning, everyone. Welcome to our first quarter 2026 analyst call. We really appreciate your interest in joining our call today. I'm joined by Assunta Tortis, our Chief Financial Officer today. I will begin with some overview comments, and then Assunta will provide more details on our financial results for the quarter, and we'll be happy to answer any questions at the end of this call.

We're actually quite pleased with our results reported for first quarter of 2026. In the first quarter of 2026, we delivered good profitability and cash generation. Our EBITDA -- adjusted EBITDA for the quarter was 19.3% of revenue. Despite the challenges in the global economy, our first quarter change in our revenue was broadly stable compared to the same measurement just 1 year ago. Considering certain regular seasonal cash disbursements during the quarter, our cash balance stood at approximately $58 million at the