ECD Automotive Design, Inc.

Greetings and welcome to the ECD Auto Design second quarter 2025 earnings conference call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. If anyone requires operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Chris Donovan, Investor Relations. Thank you. You may begin.

Thank you, operator, and good morning, everyone. Welcome to ECD Auto Design's second quarter 2025 earnings conference call. Today's date is August 21st, 2025, and on the call today from ECD Auto Design are Scott Wallace, co-founder, chief executive officer and chairman, and Victoria Hay, chief financial officer. Before we begin, I'd like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. For discussion of such risks and uncertainties, please see ECD Auto Design's most recent filings with the SEC. All forward-looking statements made today reflect our current expectations only, and we undertake no obligation to update any statements to reflect the events that occur after this call. Also, during the course of today's call, the company will be discussing one or more non-GAAP financial measures. Reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures are included in the press release we issued yesterday morning. Copies of the press release are available on ECD's investor website, ecdautodesign.com. In addition, ECD Autodesign's Form 10-K and 10-Qs are also available on the Investor Relations website. Now I'd like to turn the call over to co-founder and chief executive officer, Scott Wallace. Scott?

Good morning, and thank you for joining us as we review ECD's second quarter results. I'm pleased to welcome our new chief financial officer, Vicki Hay, to her first earnings call with ECD. While she recently assumed the role, Vicki and her team have already been key members of our finance team over the past several months. I'd also like to recognize Ben Piggott, who will continue with ECD in a new role as director of corporate development. In this position, Ben will focus on strategic initiatives, including M&A, investor engagement, and the company's evolving capital markets and Bitcoin treasury strategy. On behalf of the team, I want to thank him for his many contributions as CFO. ECD Automotive Design is a US-based builder of fully bespoke, restored luxury vehicles, combining classic automotive beauty with modern performance and customization. From our 100,000 square foot Rover Dome headquarters in Kissimmee, Florida, and master-certified craftsmen hand-build each vehicle. We also operate a logistics center in the UK that sources vintage vehicles and parts for transformation. Our five core offerings now include Land Rover Defenders, Range Rover Classics, Jaguar E-Types, Ford Mustangs, and Toyota FJs. Each vehicle is designed in partnership with a client through an immersive luxury design process that results in a one-of-one personalized vehicle. To date, we have completed 675 builds for customers who have come to expect only the finest results. With average selling prices between $300,000 and $400,000, and the recent contracts reaching as high as $620,000, ECD delivers gross margins among the best in the luxury automotive sector. We participate in a $94 billion global classic car ecosystem and operate a capital-like model with scalable manufacturing and multiple growth channels, including retail and licensing. Supported by strong brand reputation, ECD has the pricing power to consistently achieve high margins. Much like Ferrari, our business model enables us to command premium price points with customization and craftsmanship, serving as the core drivers of value. Our second quarter performance demonstrated this advantage, delivering record revenue of $7 million on the strength of bespoke demand and manufacturing efficiencies, including a right first-time strategy designed to minimize errors, maximize efficiency, enabling more complex builds with shorter shipping timelines and accelerating the revenue recognition. However, we did have to navigate the current macro environment, including higher costs associated with tariffs, shipping, and customs. A highlight of the second quarter for the delivery of the EC's first custom Mustang, a natural extension of our leadership in Land Rover and Jaguar illustrations into the iconic world of American muscle cars. Project Ghost, The first Mustang built entirely in-house for ECD was a 1967 Fastback that embodies everything ECD stands for. One-of-one personalization, authentic heritage powertrains, and best-in-class craftsmanship. Powered by a Roush-engineered 465-horsepower small-block V8 and built on a modern RS-spec chassis, Ghost delivers the balance of raw muscle and refined drivability that few in the market can replicate. Our exclusive partnership with Roush allows us to preserve the Mustang's original identity while enhancing reliability, performance, and daily usability. The Mustang program demonstrates the scalability of our model, expanding our addressable market, diversifying revenue streams, and delivering high margins, all while leveraging our existing factory and customer journey without incremental capex. With multiple commissions already underway, inspired by America's most iconic Mustangs, the program has quickly begun generating excitement beyond our customer base. That momentum was reinforced in July when Project Ghost Mustang won the Best of Class at the Route 66 Roadfest in Tulsa, and our Jaguar E-Type, Project The Wellfleet Commission, earned first place at the Lars Andersen Auto Museum's British Car Day. These national awards validate both the craftsmanship at the heart of ECD and their successful expansion into American muscle, further strengthening our brand reputation among enthusiasts and collectors. As the summer winds down, We're encouraged by the strong performance of our retail locations, our stores within a store concept at One Driver's Club in West Palm Beach, and our pop-up in Nantucket 10 Easy Street both prove that immersive community-centered retail is a powerful complement to our digital sales channel. These locations give customers the opportunity to see, touch, and drive our vehicles firsthand, while engaging with our design process in a way that online channels simply can't replicate. These stores have contributed to backlog growth, generated ready-name sales, and accelerated the conversion of inventory into cash. Just as important, both locations have served as hubs for community engagement that strengthened brand awareness and created new relationships within two of the wealthiest and most influential markets in the U.S. This early success reinforces our conviction that retail is a scalable path to filling our factory and driving cash generation and can be financially justified with as few as two vehicle sales per month. Both the Mustang program and our expanded retail strategy highlight how ECD can drive high average selling prices by elevating product mix without compromising on quality or the customer journey. I would now like to touch on two significant financial developments that occurred in June that we believe strengthen ECD's strategic position and long-term growth trajectory. First, we announced a set of proactive initiatives to right-size our cost structure and enhance operational efficiency. Following a comprehensive review of our capital allocation expense base, we've implemented targeted cost savings, refined inventory management practices to improve working capital velocity, and negotiated a 12-month grace period on debt service obligations with our lenders. These steps were intended to create a leaner, more agile operating model, one that supports disciplined growth, preserves cash, and positions us to execute on our long-term strategy with greater resilience. By streamlining spend and unlocking resources, we are better equipped to invest in the parts of the business that drive revenue growth, margin expansion, and shareholder value. Second, we secured a $500 million equity facility earmarked for the strategic accumulation of Bitcoin as our primary reserve asset, alongside funding for growth initiatives and general corporate purposes. This financing option gives us the flexibility to store capital at our discretion, aligning with our view that Bitcoin is a next-generation store of value. Importantly, it also enables us to further engage the crypto native customer demographic, a community with significant purchasing power that increasingly seeks to diversify into real world luxury assets like our custom built vehicles. Building on our recent partnership with BitPay to accept cryptocurrency payments, we've launched a targeted promotion. The first 21 customers to purchase a new build using Bitcoin will receive a $21,000 credit towards upgrades. We see this as both a marketing catalyst and a brand differentiator that bridges digital wealth with a high-touch real-world productive experience. With that, I'll now pass the call over to Vicky to review our financial results. Vicky.