Anterix Inc.

Good day, and thank you for standing by. Welcome to the NTERICS first quarter fiscal 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 11 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker, Natasha Beccarelli.

Please go ahead. Thank you, Operator, and good morning, everyone. I'm Natasha Beccarelli, Vice President of Investor Relations and Corporate Communications. Welcome to our fiscal 2026 first quarter investor update call. Joining me today are Scott Lang, our President and CEO, Tim Gray, CFO, Chris Gutman-McCabe, Chief Regulatory and Communications Officer, and Ryan Gerbrandt, COO. Before we begin, please note that today's discussion may include forward-looking statements regarding our outlook, operations, and expected performance. These are based on current assumptions and subject to risks and uncertainties. We encourage you to review our FCC filings, including Forms 10-K and 10-Q, for a detailed discussion of these risks. These are available on our website. And finally, we do not undertake any obligation to update forward-looking statements. With that, I'll turn the call over to Scott.

Good morning, everyone. While it has only been a few weeks since our last call, I am pleased to have the opportunity to share the continued momentum we are building here at Enterix and to reaffirm our conviction in our long-term value and leading market position for private LTE. Today, I'd like to focus on three key elements we believe uniquely position us to scale effectively and deliver lasting value to the market and to our shareholders. One, the continued progress of our accelerator program. Two, our financial strength and disciplined operations. Three, the growing utility validation of 900 megahertz private broadband. I will begin with the accelerator program. As a reminder, we launched the accelerator program offering $250 million in matching spectrum value to help utilities move faster towards the adoption of 900 megahertz private LTE. The response has validated our objective of the program to test demand for LTE technology and action correlated to price. The program is oversubscribed. With engagements exceeding $500 million in potential contract value, and surpassing the scope of the initial $250 million of matching funds signaling solid, actionable market interest. It is also worth noting that more than 15 utilities engaged in the initial launch represented over $2 billion in potential contract value. Beyond the utilities participating in the launch that have moved into negotiations Every utility involved has recognized the benefits of the technology and continue to prioritize these investments within their strategic planning. These are not speculative discussions, and we are encouraged by both the pace and the quality of these engagements. Second, we are operating Enterix from a position of strong financial strength supported by disciplined operational execution. As you will hear from Tim, our balance sheet remains solid with meaningful, committed cash inflows to provide us with future cash flow visibility that few in our space can match. And I'd also like to point out that since stepping into the CEO role, we have driven a 20% reduction in operating expenses while sharpening our focus on execution, efficiency, and measurable results. This discipline gives us both capital flexibility and fosters an innovation mindset. Two key advantages as we continue to lead the private LTE market forward. Given our financial strength and the clear intrinsic value of our assets as underscored by the strong utility engagement in the accelerator program and reflected in our demonstrated intense scorecard, The gap between the value creation we see compared to our current market value is striking. We believe this represents a strong opportunity for significant value to our existing and future shareholders going forward. Turning to the third key element that we believe positions us uniquely is the powerful validation of our technology that comes from our customers. which are the seven utilities deploying 900 megahertz private LTE at scale. These customers are not just implementing the solution, they are continuously expanding the use case and achieving operational results in securing and future-proofing their grid assets. Collectively, these seven utilities represent the fifth largest wireless network footprint in the United States. That scale alone is a powerful endorsement. But what is even more compelling is how they are leveraging the network. Thousands of devices are already securely connected with capabilities unlocked thanks to the power of 900 megahertz private LTE. Our customers are experiencing tangible improvements in performance and operations supporting a wide range of use cases ranging from distribution automation and gas operations to wildfire mitigation, mobility, and field services. And as we discussed on our last call, we're not stopping at 6 megahertz of spectrum offering. We're pushing towards 10 megahertz, continuing to evolve and expand our offering to meet and anticipate utilities' needs, supporting virtually any use case well into the future. Our momentum towards a 10 megahertz future is accelerating, and there continues to be ongoing, meaningful engagement with the FCC as reflected in the public record. Even with today's usage, actual network utilization is only a fraction of the total available capacity, long-term simulations projecting 10 years out, confirms significant headroom, validating the network's ability to scale while delivering unmatched performance, reliability, and value. This level of validation speaks not only to the strength of our solution today, but also to its long-term staying power. Utilities are methodical and risk adverse. They require certainty that investments made today will not become stranded assets of tomorrow. That is exactly what we provide, a future-proof technology roadmap and a value proposition that extends across decades. And with this momentum, our ecosystem and our device partners are responding with their own innovations that will ensure they stay relevant to this future ahead. Our team is executing with discipline, delivering steady, meaningful progress across our strategic initiatives, and staying laser-focused on its core drivers that position us for scalable, durable growth as utilities undergoing a once-in-a-generation digital transformation. With that, I will turn it over to Tim for the financial review and will return with closing remarks.