Operator
Welcome to the Sallie Mae Fourth Quarter and Full 12 months 2025 Earnings Convention Name. [Operator Instructions] I’d now like to show the decision over to Kate deLacy, Senior Director and Head of Investor Relations. Please go forward.
Kate deLacy
Senior Director & Head of Investor Relations
Thanks, Chloe. Good night, and welcome to Sallie Mae’s Fourth Quarter and Full 12 months 2025 Earnings Name. It’s my pleasure to be right here at present with Jon Witter, our CEO; Pete Graham, our CFO; and Melissa Bronaugh, Managing Vice President of Strategic Finance. After the ready remarks, we’ll open the decision for questions.
Earlier than we start, bear in mind our dialogue will comprise predictions, expectations and forward-looking statements. Precise outcomes sooner or later could also be materially completely different from these mentioned right here as a consequence of quite a lot of components. Listeners ought to check with the dialogue of these components within the firm’s Kind 10-Q and different filings with the SEC. For Sallie Mae, these components embrace, amongst others, outcomes of operations, monetary situations and/or money movement in addition to any potential affect of varied exterior components on our enterprise.
Moreover, this dialogue within the earnings presentation embrace non-GAAP monetary data, together with non-GAAP delinquencies, together with strategic partnerships in compensation, non-GAAP reserve charges, together with strategic partnership, warehouse loans and non-GAAP NCOs as a share of common loans and compensation. All
