We also continued our share repurchase program, buying back $218 million in the quarter or another 3% of shares outstanding. Overall, I feel very good about our results. Now, I'll provide an update on our Block Horizons strategy, where we continue to make progress. Starting with Small Business, revenue grew over 20% in the quarter. Assisted small-business tax volumes finished the extended season with momentum. We had nearly a 4% increase in net average charge, and we continue to see favorable trends in bookkeeping and payroll. While the second quarter only included two weeks of the filing season given the October 15 deadline, we feel great about the start of the year. We have focused our marketing plan on the gig economy and specific industry segments we already do well in.

Overall, I continue to be pleased with the growth we're seeing in Small Business. Turning now to Wave, revenue growth was 5% in Q2. Last quarter, I detailed the strategic shift in Wave's business model to build more premium features to meet the evolving needs of our customers. This past week, we took another step forward by introducing a paid tier subscription service. This new tier incorporates features like automated bank transaction imports, preferred pricing on payments, and agent support rather than self-service support. At the same time, Wave will continue to offer payments and payroll for an additional fee. These recent moves reflect progress on our roadmap to accelerate revenue growth and drive long-term profitability, and aligns with our commitment to empower small-business owners to start, survive, and thrive.

Moving to financial products, as I mentioned earlier, Emerald Advance performed well in the quarter. Although the name remains the same, significant changes were made to the product in collaboration with our bank partner, Pathward, to better meet client needs. A few of those include transitioning the product from a line of credit to a shore-term loan with flexible repayment options, eliminating the annual fee and streamlining the application process, and increasing the maximum available loan amount which helped customers with their holiday spending needs. In total, over $380 million in Emerald Advance loans were originated, up 25% to the prior year. And we received positive feedback from clients and associates. Regarding Spruce, as of December 31, we had 316,000 sign-ups and $456 million in customer deposits.

We continue to enhance the user experience, have seen improved App Store ratings, and feel good about the increase in new client accounts and engagement. Our savings features are delivering on Spruce's mission to help clients be better with money. In fact, 20% of users who set and achieved a savings goal did so to build emergency savings, and another 17% successfully save for vacations. In addition, this year is the first time we are cross-selling assisted and DIY tax offerings in the Spruce app. More than 30% of customers that signed up during last year's season were not H&R Block tax clients, which we see as an opportunity. I'll now discuss our Block Experience imperative, which underpins our ability to win in both assisted and DIY by creating personalized experiences.

Clients are empowered to be served however they choose, fully virtually or fully in person, and every way in-between, whether uploading documents from home, having virtual calls with tax pros, or signing their return online. We also recently launched our initial two generative AI products that focus on improving the client experience and reducing cost, which I'll share more about in a minute. Our progress across this imperative is one of the reasons we feel well-positioned for this tax season. Let me share some more starting with assisted tax. To begin with, we achieved our hiring goals, and saw continued strong trends in tax pro retention. We have heard positive feedback from our tax pros about the flexibility we offer. In addition, our innovative fulfillment network will now be available to our entire network of tax pros, which can improve the speed of our service and help us better manage our capacity.

Last quarter, I shared some of the many enhancements to the MyBlock app that were made with the client experience in mind, including a status tracker to help clients understand where they are in the flow, when to take action, and to give them easier access to their digital documents in return. Not only are we focused on the client experience, but we also see an opportunity to reduce expenses with AI. We have already launched the technology in our call center operations, and continue to learn from its use. Early signs indicate that customers are able to help themselves, which reduces related call center volumes. This should also enable our agents to assist with more complex issues. While we're just getting started, we're pleased with the speed that we're able to deploy this innovation and how it will help us better serve our clients.

All of these advancements, alongside our positive customer satisfaction metrics from last year, including value for price paid give us confidence to take modest price increases this year, which we have previously discussed. Turning to DIY, we believe the formula for success continues to be offer an award-winning product that is continually innovative, make it easy for clients to switch, and price competitively. We executed this plan last year and returned the share gains. This year, we'll continue to build on that momentum. As you may have seen, we're excited to have launched AI Tax Assist in all of our DIY paid SKUs. This innovation enables customers to get real-time tax answers and information, leveraging knowledge from our world-class tax institute and decades of fielding client inquiries.

It's simple to use, and clients can ask as many questions as they would like. If live help is preferred, H&R Block's tax professionals are there to assist. We believe this offers significant value for clients with AI Tax Assist and access to human help included at no extra charge. We know that a critical barrier for clients to switch is the cumbersome process of transferring their data. Last year, we actively marketed how simple it was to drag and drop a PDF of the prior year return into our flow, which automatically imported up to 150 data fields. This year, we made it even easier for TurboTax customers to retrieve their prior year return, saving significant time and effort in switching. In all, we feel really good about our DIY product and strategy.

As discussed last quarter, we're taking modest price increases in this channel. Finally, our marketing is aggressively promoting the reasons to switch to H&R Block and messages the strong value proposition of both our assisted and DIY offerings. This year's campaign, It's Better with Block, demonstrates just how easy it is to switch and showcases the simplicity of our experiences, which empower clients to file however they from easy-to-use DIY software to full-service assistance through our extensive local network across every corner of America. It also highlights our refund advance product that helps clients get their money sooner, our transparent and competitive pricing, our accuracy and max refund guarantees, and the expertise of our global network of tax pros.

In summary, we are well prepared to execute this season. Before handing it over, I want to share more about Tony's decision to retire and focus on personal interest after nearly 20 years of service to H&R Block, including the last eight as CFO. Tony has been instrumental in driving results and will leave us in a strong position financially. Some of his most meaningful contributions include the rollout of our upfront transparent pricing model, driving material earnings growth in the business, and achieving a notable track record of returning capital to shareholders. As part of Tony's decision, he's committed to remaining CFO through the end of August to see us through tax season, complete the fiscal year, and participate in our full-year 2024 earnings call.

We're in the process of engaging a search firm to find his replacement, and we'll share more at a later date. I am proud of all we've accomplished together, Tony. And I only wish you the best as you prepare to enter this next chapter of life. Over to you.

Tony Bowen: Thanks, Jeff. My tenure at H&R Block has been an incredible experience, and I'm grateful for all I've learned and the opportunities I've been given. It's been an honor to be part of this transformation journey, and I'm confident about the path that H&R Block is on. I'd like to reiterate that this is my personal decision. And as Jeff mentioned, nothing will change about my role in the meantime. I'm committed to ensuring a smooth transition through the end of August, and my engagement as H&R Block CFO will not change in the coming months. With that, I will now turn to the Q2 results. We delivered $179 million of revenue, which increased 8% or $12.7 million over the prior year. The increase was primarily due to higher volumes and net average charge in Assisted, combined with higher interest and fee income on Emerald Advance.

Total operating expenses of $446.5 million decreased by $3 million as a result of lower consulting and marketing expenses partially offset by higher corporate wages in the current year. EBITDA was a loss of $231 million, an improvement of 6% or $15 million to the prior year. Interest expense was $21 million, an increase of $2 million or 13% due to higher withdrawals on our line of credit coupled with higher interest rates compared to the prior year. Pre-tax loss decreased by $15 million to $283 million, and our effective tax rate was 33.1% compared to 25.9% last year. Loss per share from continuing operations improved from $1.43 to $1.33, while adjusted loss per share from continuing operations improved from $1.37 to $1.27. Both were driven by lower loss partially offset by fewer shares outstanding.

While the first-half of the year is a small portion of our overall fiscal year, I am pleased with our performance. And as such, we are reaffirming our fiscal year '24 outlook. Turning to capital allocation, our practice remained strong. In Q2, we bought a total of 4.8 million shares for $218 million at an average price of $45.88. This was another 3% of share outstanding. In the first-half of fiscal '24, we repurchased a total of $315 million or 5.5% of shares outstanding. As a reminder, given our narrow trading windows, we have historically executed more of our share repurchase in the first-half of the fiscal year. I believe this is a great use of capital, and I am pleased with what we have accomplished. Finally, as I shared on the last call, we continue to feel good about our balance sheet and how we are positioned in the current environment given our relatively low leverage.

All in all, I'm looking forward to the second-half of the year. I'll now turn it back over to Jeff for some closing remarks.

Jeff Jones: Thanks, Tony. I'm pleased with our performance and confident in our ability to drive value for shareholders through our business results and capital allocation. As we end our prepared remarks, I would like to extend a sincere thank you to our team of tax professionals, associates, and franchisees whose hard work, expertise, and collective spirit continue to deliver on our purpose every day. Together, we provide help and inspire confidence in our clients and communities everywhere. As a reminder, our next update on the tax season will be on our Q3 call, in early May. Now, we'll open the line for questions.

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