Daktronics, Inc.

Good day and thank you for standing by. Welcome to the Daktronics fourth quarter fiscal year 25 financial results 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'll need to press star 1-1 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Carla Gatsky, Corporate Secretary. Please go ahead.

Thank you, Operator. Good morning, everyone. Thank you for participating in our fourth quarter earnings conference call. During today's presentation, we will make forward-looking statements reflecting our expectations and plans about our future financial performance and future business opportunities. These forward-looking statements reflect the company's expectations or beliefs about future events based on information currently available to us. Of course, actual results could differ. Please refer to slide two of the presentation that accompanies today's call, our press release and our SEC filings for information on risk factors, uncertainties, and exceptions that could cause actual results to differ materially from these expectations. During this presentation, we will also refer to non-GAAP financial measures. You can find the reconciliation of each non-GAAP measure to the most directly comparable GAAP measure in the appendix to the accompanying presentation slides, which may be found on the investor relations page of our website at www.dactronics.com. Our earnings release for the 2025 fourth quarter, which is furnished to the SEC on a form 8K this morning also contains certain non-GAAP financial measures. Reconciliation of these non-GAAP financial measures to the most directly applicable GAAP measures, GAAP financial measures, as well as a discussion of certain limitations when using non-GAAP financial measures are included in the earnings release, which has been posted separately to the investor relations page of our website. I'll turn the call over to Andrew Siegel, Chairman of the Board, for some introductory remarks.

Thanks, Carla, and good morning, everybody, from here in Brookings. I thought maybe I'd just take a few brief minutes to set the stage. Our last quarter call, we shared several pieces of important news beyond our earnings report. First, the senior management transition, in which your board named a well-respected company veteran. who has led the group of our largest and most profitable segments, Brad Riemann as interim CEO. We accelerated our financial transformation by asking Director Howard Atkins to take on the acting CFO role until our new CEO can make their own chief financial officer selection. And while you're hearing my voice today, ask me to step up to become chairman of the board. Why does that matter? Well, I'm an on-insider shareholder who first invested on the conviction that the company was undervalued. I continue to view the stock as significantly undervalued, and I'm committed to closing that gap. Secondly, at the time we announced that we had reached an agreement with our then-largest shareholder, AlphaFox, pursuant to which the company terminated our poison pill, converted the 9% subordinated debt, undertook a comprehensive review of our exact compensation, and added AlphaFox's appointee, Peter Feigen, president of the Milwaukee Bucks of the NBA, to our board. Peter's terrific. He jumped in right away with the voice of the customer to provide insight and guidance, particularly to our live events team. So I want to thank Connor Haley of AltaFox for that recommendation, for providing the financing, and like many of you have reached out, for continuing to offer constructive ideas about the company's future. Third, we reincorporated the company in Delaware where corporate law is well understood, clear, and predictable. This re-domestication was accomplished with the overwhelming approval of shareholders, which reflects its importance. to supporting our ongoing business transformation plan while flexibly protecting shareholder interests. Then, on top of this transition and transformation, another key word was thrown into the mix during the past almost three months for us, along with most U.S. manufacturers, but I'll take it personally, that created many and multivariate challenges. Those challenges were met and managed by the executive team extraordinarily well. Seeing how quickly and often the landscape changed since Liberation Day, it was really remarkable how the potential impact in so many vectors and just the overall uncertainty was expertly met by this team. So I can report to you that our fourth fiscal quarter was, in addition to being transitional transformation and reactive to the tariff policy uncertainty, was in fact a quarter of strength, stability, and optimism. There actually aren't sufficient words that I can come up with at least to describe what Brad and Howard and the entire team managed to accomplish in these few short months. But you can glean from our order and backlog growth an absence of upheaval. Further, as you'll hear about shortly from Brad and Howard, our business and digital transformation remains on track to achieve the objectives we set on the last quarter call. I want to thank the entire senior leadership team for their diligence and their steadiness navigating this transition. Personally, I can tell you that I've come to appreciate the character of this team, their loyalty to the company and its stakeholders, and their openness to executing the change that this transformation plan is now driving. You know, it doesn't show up on the balance sheet, but it's an incredible asset nonetheless, and I thank the team. Our fourth quarter results reflect this focus and determination. The Deuteronomy Board remains determined committed to the shareholders it represents, just as our executive team remains committed to our customers and to maintaining and further developing the unique qualities that make Daktronics the best in the business, and yes, to transforming our operations in order to achieve our revenue growth, margin expansion, and ROIC targets. I mentioned a moment ago that the company had undertaken a comprehensive exec compensation review. That's now been completed. and you will have seen this morning some detail of the plan the board has adopted in the AK we filed. Most basically, we're making our compensation more competitive. Obviously, we're in the market with a search for CEO and to follow a CFO, so we do have an appreciation for where market is, but more than just making sure comp is competitive so we attract first-rate talent, the objective is to align the comp plan with the goals of the transformation. So primarily, the principles of the plan are meant to further incent our sales leaders toward driving revenue, and for functional leaders to achieve the margin expansion and shareholder return goals of the transformation. So we've now implemented a new exec compensation philosophy, again with the help of nationally recognized consultants who match best practices to the company's culture. That philosophy uses a full range of compensation incentive tools to maximize company-wide performance. On the CEO search in particular, we don't yet have anything to announce with respect to that, The search committee is very pleased with the quality and quantity of candidates who have responded positively to the opportunity and expressed their excitement about the company and the possibilities before us. So we're on track, and personally, I'm feeling good about the tempo of progress here. So with those preliminaries, let me turn the call to Brad Wieman, our interim president and CEO. Brad?