Comtech Telecommunications Corp.

Welcome to ComTech Telecommunication Core conference call for the third quarter of fiscal 2026. As a reminder, this conference call is being recorded. I would now like to turn the call over to Maria Sariello, Senior Director of FP&A of ComTech. Please go ahead, Maria.

Thank you, Operator, and thanks, everyone, for joining us today. I'm here with Ken Traub, Comtex Chairman, President, and CEO, Mike Bondi, our CFO, Daniel Gazinski, President of our Satellite and Space Communications segment, and Jeff Robertson, President of Illyrium. After Ken, Mike, Daniel, and Jeff's remarks, they will be available for questions. Before we get started, please note we have a detailed discussion of the quarter in the press release and 10Q we issued this morning, which are available on our website as well as the SEC's website. Certain information presented in this call will include, but not be limited to, information relating to the future performance and financial condition of the company, the company's plans, objectives, and business outlook, and the plans, objectives, and business outlook of the company's management. The company's assumptions regarding such performance, business outlook, and plans are forward-looking in nature and always involve significant risks and uncertainties. Actual results could differ materially from such forward-looking information. Any forward-looking statements are qualified in their entirety by cautionary statements contained in the company's SEC filing. With that, I will turn it over to Ken. Ken?

Thank you, Maria, and good morning, everyone. I appreciate you joining us today. I will start the call by providing you with a strategic context on the significant announcements we are making today. Mike will follow with a review of the numbers. Daniel will then provide an overview of the improved performance for our satellite and space business that's helped us make the transactions we announced today possible. And then Jeff will conclude with the additional insights on the exciting future prospects for Elarium. In my first conference call as CEO of ComTech in early 2025, I had two phases of my discussion with you. The first phase was to share my background and my perspective on leadership. I emphasized then that I believe the most critical factor for success in leadership, particularly in a turnaround, is building trust with all key stakeholders. Trust is built through acting with sincerity and integrity and, most importantly, honoring promises. In the second phase of that conference call, I laid out a transformation plan that had four pillars, which I promised will be ComTech's guiding principles. The first pillar, we will restore and enhance operational discipline throughout this company. Second, we will start to generate positive operating cash flow. The third pillar, we will conduct a comprehensive review of strategic alternatives. And the fourth pillar, we will strengthen the company's capital structure. ComTech's recent operating and financial performance, together with the strategic and capital structure announcements we are making today, demonstrate that we are successfully delivering on each of those promises. Let me start with the first pillar. since that was the critical foundation to get to the next three pillars, including today's significant announcements. ComTech is today a dramatically improved company. We have a culture of operational discipline, accountability, and taking pride in successful execution. We are executing with a streamlined cost structure and delivering for our customers and other stakeholders. ComTech's emphasis An operational discipline is evident in everything we do now. This improved operational discipline has been key in achieving the second pillar. After several quarters of negative operational cash flow prior to my arrival, we are pleased to report that this quarter is our fifth consecutive quarter of positive operating cash flow. This has enabled us to maintain about $50 million of available liquidity. The return to positive cash flow has helped restore ComTech's credibility in relationships with lenders, investors, customers, suppliers, and other stakeholders, and in turn has put us in a stronger position in everything we do. On the third pillar, ComTech first announced a process of exploring strategic alternatives for its public safety business, Alarium, in 2024, before I arrived at the company. When I arrived, I announced a commitment to a broad and thorough strategic review process. I believe it is critical for such a process to be broad to consider all options and how the remaining company will be best positioned. A broad process also maximizes optionality. I also think it is best to pursue any such process from a position of strength. Now that we have accomplished the first two pillars, We've created that position of strength to pursue the best strategic path and negotiate with confidence and optionality. We are very pleased with the outcome of the strategic alternatives process and the transaction we consummated with Galat to sell most of Satellite in Space for $157.5 million. I will talk more in a moment about why I believe sharpening the company's strategic focus on Elarian's public safety business is the right way to optimize the company going forward. But suffice it to say that this is a defining milestone for this company. The fourth pillar regarding the need to strengthen the company's capital structure is also critical and further addressed today. We have been fortunate that due to the progress we made in pillars one and two, we earned the trust of our creditors and they previously agreed to accommodations that have been very helpful to the companies. For instance, the amendments we previously entered into on our loan agreements that provided for covenant holidays were a key factor in removing the going concern qualification from our financial statements, which in turn has been helpful with customers, suppliers, and partners. As a result of our continued success on pillars one and two and the consummation of the transaction to sell satellite and space being announced today, we've been able to successfully negotiate further improvements and our credit agreements and preferred stock, which strengthen our liquidity, financial flexibility, and strength going forward. All of these pillars have reinforced each other, resulting in a stronger and healthier company. Now I would like to return to the strategic rationale of the transactions we are announcing today. The sale of satellite space means more for ComTech than generating $157 million in cash and retiring expensive debt. Under Jeff Robertson's leadership, Alarium has been enhancing its mission-critical solutions for public safety agencies and mobile network operators. With an improved capital structure, focused organization, and strategic clarity, Alarium is poised to capitalize on its leadership in the public safety market and accelerate its growth. Over the next few months, as we await regulatory approval, we will be executing a transition plan to align the organization to be purpose-built to support Alarium's growth as a leader in next-generation public safety technologies and services. Alarium's growing portfolio of software, cloud-native, data-driven, and AI-enabled capabilities put it at the center of next-generation 911 technology. call handling, location-based services, and data management. Upon closing, our transition to Alarium will mark the beginning of an exciting new chapter, one in which we will focus our investment, innovation, and execution on a singular mission, leading the evolution of public safety technologies as the market shifts from traditional voice-based systems toward data-centric communications, real-time coordination, and artificial intelligence enhanced decision-making. We believe Alarium is uniquely positioned to lead this large and growing market for years to come. Finally, I would like to thank and compliment our entire team. We set ambitious goals during a period of significant challenge for this company. We remained disciplined in our execution, and we delivered. Throughout our organization, in satellite, space, Alarium, finance, legal, IT, and people operations, I esteem the dedication, loyalty, and passion that is driving these significant achievements. I am personally so proud of this team and what we are accomplishing together. And with that, I'll turn the call over to Mike to walk through the financials.