Tami Zakaria
JPMorgan Chase & Co, Research Division

Good morning, everyone. This is Tami Zakaria, Head of Machinery, Engineering and Construction Equity Research at JPMorgan. It is my pleasure to welcome the AGCO team. We have CFO, Damon Audia; and we have Brian Sorbe, Head of PTx.

Tami Zakaria
JPMorgan Chase & Co, Research Division

So I'm going to start off with Damon. Can you provide a brief overview of AGCO and your objectives in Precision Ag technologies to frame the discussion for a more tech-oriented investor base that we have here today?

Damon Audia
Senior VP & CFO

Yes, sure. Good morning, good afternoon. So for those of you who aren't familiar with us, AGCO is the largest pure-play tech -- agriculture technology company. combines an array of world-class equipment brands, along with the industry's leading most comprehensive mixed-fleet technology platform under the PTx portfolio. So for total company in 2025, we had revenues just over $10 billion, and we operate globally with operations in Asia, Europe, North America and South America with just around 60% of our overall portfolio in revenues coming from the European market.

So our portfolio spans from the equipment brands. We have our Fendt brand, which is our premium brand. Think of that as the best of the best around the world. And then we have two more volume-orientated brands called Massey Ferguson and Valtra. Those 3 create our equipment brands of how we go to the market. And then we have a separate technology platform that we call PTx or