Aviat Networks, Inc.

all participants are in a listen-only mode. A question and answer session will follow the formal presentation. Please note this conference is being recorded. I will now turn the conference over to your host, Mr. Andrew Fredrickson, Director of Investor Relations. Thank you. You may now begin.

Thank you and welcome to Aviat Network's third quarter fiscal 2025 results conference call, and webcast. You can find our press release and updated investor presentation in the IR section of our website at www.avianetworks.com, along with a replay of today's call. With me today are Pete Smith, Aviat's president and CEO, who will begin with opening remarks on the company's fiscal quarter, followed by Michael Conaway, our CFO, who will review the financial results for the quarter. Pete will then provide closing remarks on Aviat's strategy and outlook, followed by Q&A. As a reminder, during today's call and webcast, management may make forward-looking statements regarding Aviat's business, including, but not limited to, statements relating to fiscal guidance, financial projections, business drivers, new products and expansions, and economic activity in different regions. These and other forward-looking statements reflect the company's opinions only as of the date of this call and webcast and involve assumptions, risks, and uncertainties that could cause actual results to differ materially from those statements. Additional information on factors that could cause actual results to differ materially from the statements expressed or implied on this call can be found in our most recent annual report on Form 10-K filed with the SEC. the company undertakes no obligations to revise or make public any revisions of these forward-looking statements in light of new information or future events. Additionally, during today's call and webcast, management will reference both GAAP and non-GAAP financial measures. Please refer to our press release, which is available in the IR section of our website at www.aviantnetworks.com and financial tables therein, which include a gap to non-GAAP reconciliation and other supplemental financial information. At this time, I would like to turn the call over to AVIAP's president and CEO, Pete Smith. Pete?

Thanks, Andrew, and good afternoon, everyone. Let's review the highlights from the third quarter. Total revenue of $112.6 million. Non-GAAP gross margin of 35.8%. Record. adjusted EBITDA of $14.9 million, up 17% versus the year-ago period. Non-GAAP EPS of $0.88, up 13% year-over-year. These results were possible thanks to AVIAD's disciplined operating model and the hard work and commitment from the entire AVIAD team. consecutive quarter of record quarterly adjusted EBITDA, we see the work of our strategy to grow the scale of Aviat taking hold. Let's briefly discuss our end markets. Looking at our mobile service provider market, we had another good quarter. Products and services related to Pasolink were in line with our long-term expectations for the business. Software volumes were good. assisting with our improved gross margins year over year. In a previous earnings call, we announced the launch of our ProVision Plus software for Pasolink. We are happy to report initial sales of ProVision Plus to Pasolink customers during the third quarter. The successful effort to sell ProVision Plus shows the significant progress we have made servicing our Tier 1 and larger mobile service provider customers. that joined from the Pasolink acquisition. In private networks, AVIAD continues to maintain its share of demand in North America and expand the sales funnel internationally. In public safety, we've built and shipped additional phases of our recently won statewide network project. In the utility space, we're making progress cross-selling our offering of APRISA access radios and routers alongside microwave backhaul and are excited about the sales funnel developing with these customers. Based on investor inquiries, I would like to add that we have not seen any cancellations to date with our U.S. federal government customers as a result of spending reduction efforts. We attribute this to the mission critical nature of our deployments. Regarding tariffs and the impact to Avia. Our team has been working diligently to mitigate the impact to our business and customers. We have deployed the playbook we used to successfully navigate the COVID supply chain crisis. In addition, our manufacturing partners have footprints that will permit optimization when the tariff landscape settles. Anticipating the tariffs, we ramped up our inventory purchases. For the vast majority of the hardware we sell in the US, it is assembled in the US. We believe Aviat has the largest operational US footprint in the microwave space. During the quarter, we had strategic discussions with three US headquartered Fortune 500 companies focused on doing more in the US. This may be a positive catalyst in approximately 12 months. Nonetheless, much of the tariff headline is focused on costs, and we do utilize components and contract manufacturing from international sources. We are working alongside our contract manufacturer and suppliers to adjust sourcing locations as available, but we expect exposure over the next couple of quarters. Our goal with the tariff impact to our business will be to be margin neutral through productivity, sourcing, manufacturing footprint, and price. I would now like to turn the call over to Michael to review the financial results of the quarter before coming back for some closing remarks.