AIRO Group Holdings, Inc.

Thank you for standing by. My name is Jeannie and I will be your conference operator today. At this time, I would like to welcome everyone to the Arrow Third Quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, Press star 1 again. Thank you. I would now like to turn the call over to Dan Johnson, Executive President of Investor Relations. You may begin.

Thank you, Operator, and good morning, everyone. Welcome to Arrow Group Holdings Incorporated third quarter 2025 earnings call. We appreciate you joining us today and look forward to sharing an update on our progress and performance. With me on the call are Dr. Kiranjeev Kathuria, our Executive Chairman, Captain Joe Burns, our Chief Executive Officer, and Dr. Maria Pilipiv, our Chief Financial Officer. Replay information for today's call can be found in our earnings press release issued earlier this morning. Today's call will include forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to estimates and forecasts of financial and performance metrics, including fourth quarter and full year 2025 expected results, statements regarding Arrow's joint venture with Nord Drone Group, and proposed joint venture with Bullitt, including the goals of and opportunities for each joint venture and the ability to consummate the joint ventures on the terms described herein or at all, and the timing thereof, the timing and the development of CEW capabilities, ERO's plans for a manufacturing and engineering development facility, expectations concerning expanded Canadian operations, future products and developments, the intended use of proceeds from ERO's follow-on offering, the market acceptance and opportunity of ERO's products and services, and other statements that are not historical fact. In addition to our prepared remarks, our earnings press release, SEC filings, and a replay of today's call can be found on our investor relations website at investor.thearrowgroup.com. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. Forward-looking statements represent our management's beliefs and assumptions only as of the date made. Information on factors that could affect the company's financial results is included in its filing with the SEC from time to time, including the section titled risk factors in the company's final prospectus filed with the SEC on June 16, 2025, and the company's upcoming quarterly report on Form 10-Q for the quarter ended September 30, 2025. In addition, during today's call, we will discuss non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. Reconciliations between GAAP and non-GAAP financial measures and the discussion of the limitations of using non-GAAP measures versus their closest GAAP equivalent is available in our earnings release. With that, I'll turn the call over to our Executive Chairman, Dr. Chiranjeev Kathuria.

Thank you, Dan, and thank you all for joining us. I'm pleased to join you all today as we review our progress during the third quarter. We have lots to share as we executed several initiatives during the quarter, including two new joint ventures with Nord Drone and Bullet, completing a follow-on offering, and orders across our four key verticals. Before turning to our results, let me briefly reintroduce Arrow Group. We built an integrated aerospace and defense platform positioned at the intersection of mobility, security, and training. Our mission is to deliver dual-use technologies that advance the future of flight across four synergistic segments. Drones, fully autonomous GPS-denied unmanned aerial systems for defense and commercial ISR missions, including our battle-tested RQ-35 Hedron platform now deployed across NATO forces. Avionics, through Aspen Avionics, a 20-year heritage business with over 14,000 systems delivered, providing flight displays, sensors, and integration solution used in both manned and unmanned aircraft. Training. Elite military and commercial flight training through our Coastal Defense brand. A trusted DOD contractor under the $5.7 billion CAF-CAS IDIQ program. Electric air mobility. led by Jaunt Air Mobility, developing next-generation eVTOL and hybrid cargo drone platforms, leveraging our patented slow rotor compound technology. Arrow operates across nine facilities in the U.S., Canada, and Europe with ISO 9001 and AS 9100 certifications and the ability to serve NATO customers directly. Our business share R&D, avionics integration, and manufacturing infrastructure create a meaningful cost and speed advantages as we scale. During the quarter, Arrow announced two important strategic partnerships aimed at expanding our unmanned systems portfolio and manufacturing scale. First, we signed a joint venture agreement with Nord Drone to focus on accelerating deployment of combat proven UAS across the U.S., Ukraine, and NATO markets. Under the terms of the JV agreement, Arrow will contribute manufacturing oversight, R&D, and government procurement expertise, while Nord Drone brings proprietary technology, production facilities, and established defense relationships. Nord Drone currently produces 4,000 drones per month with the capacity to scale to 25,000 units, and its systems are already active in the frontline operation. This collaboration will integrate Nord Drone's high-volume, battlefield-tested platforms with Aero's RQ-35, Hedron, and broader unmanned portfolios. significantly broadening our reach and accelerating our ability to meet allied operational needs. The consummation of the joint venture is subject to a number of closing conditions. We also signed a letter with Bullet, a Ukrainian developer of high-speed unmanned interceptor systems. The proposed 50-50 joint venture will produce and deploy Bullitt's six-wing turbojet UAV technology across the U.S. and NATO defense markets and Ukraine. The interceptor platform achieves speeds up to 300 miles an hour. offers a 200-kilometer range and supports payloads from 2.5 to 9 kilograms, making it one of the fastest and most adaptable unmanned aerial defense systems available today. The venture will expand production capacity in both the US and Ukraine accelerate R&D on next-generation interceptor and strike variants, and pursue qualified contracts with the U.S. Department of Defense, NATO, and allied ministries. The LOI is non-binding and subject to the execution of a definitive joint venture agreement. Together, these initiatives reinforce Arrow's platform as a leading integrator of combat-proven, high-performance unmanned technologies, extending our collaboration across both tactical ISR and aerial defense applications, and advancing our mission to deliver next-generation solutions for the U.S. and allied forces worldwide. With strong momentum across each segment, a $200 million-plus booking pipeline, and expanded demand in both defense and advanced air mobility markets, Arrow is well-positioned for substantial growth and long-term value creation. With that, I'll hand the call over to our CEO, Joe Burtz.