Caesarstone Ltd.

Greetings and welcome to the Caesarstone Second Quarter 2026 Earnings Conference Call. Please note this event is being recorded. I would now like to turn the conference over to your host, Brad Cray of ICR. Thank you. Please go ahead.

Thank you, Operator, and good morning to everyone on the line. I am joined by Yosef Shiran, Caesarstone's Chief Executive Officer, and Nahum Trost, Caesarstone's Chief Financial Officer. Certain statements in today's conference call and responses to various questions may constitute forward-looking statements. We caution you that such statements reflect only the company's current expectations and that actual events or results may differ materially. For more information, please refer to the risk factors contained in the company's most recent annual report on Form 20-F and subsequent filings with the SEC. In addition, on this call, the company will make reference to certain non-GAAP financial measures, including adjusted net loss, income, adjusted net loss, income per share, adjusted gross profit, adjusted EBITDA, and constant currency. The reconciliation of these non-GAAP measures to the most directly comparable GAAP measures can be found in the company's second quarter 2026 earnings release, which is posted on the company's investor relations website. On today's call, Yosef will discuss our business activity and Nahum will then cover additional details regarding financial results. Thank you, and I would like to now turn the call over to Yosef. Please go ahead. Thank you, Brad, and good morning, everyone.

The second quarter marked another step forward in our efforts to restore profitability. Gross margin improved meaningfully both year-over-year and sequentially, reaching 24% on low revenue. and our adjusted EBITDA loss narrowed significantly to $1 million from $6.4 million a year ago and $7.5 million in the first quarter. These results demonstrate that the structural actions we have taken are delivering the expected benefits. With our optimized manufacturing footprint and global production partner network now in place, We have created a leaner, more flexible operating model that is improving margins, enhancing customer service, and supporting our path to sustainable profitability. Global revenues totaled $96.6 million, down approximately 7.7% year-over-year on a constant currency basis, reflecting competitive dynamics and soft market conditions, mainly in North America. While we are encouraged by the progress in profitability, restoring revenue growth remains our top priority. In North America, we continue to strengthen relationships with key customers and fabricators, and expanding our presence in the big box channel, which grew year-over-year in the quarter. Australia delivered its fourth consecutive quarter of year-over-year growth, supported by our Zero Silica Icon Collection, as we continue to regain our leading position in that market. At the same time, we continue to invest in our long-term growth drivers, our brand, our innovation and our porcelain offering. While the external environment remains challenging, we continue to focus on disciplined execution, delivering improved customer service through our production partner network and maintaining a lean cost structure. Late last week, the US administration announced a new tariff rate quota on imports of world's surface products, effective August 15th. We are still assessing the potential impact on our business. However, these developments do not change our strategic priorities, and we remain confident that our operating model positions us well to deliver long-term value. I will now turn the call over to Nahum.