Innventure, Inc.

Hello, and welcome to InVenture first quarter 2025 earnings 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 the question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. I would now like to turn the conference over to Lucas Harper. Sir, you may begin.

Thank you, operator, and thank you all for joining us for InVenture's first quarter 2025 earnings call. My name is Lucas Harper, InVenture's chief investment officer, and joining me from the company are Bill Haskell, chief executive officer, and Dave Jablonowski, chief financial officer. Earlier today, we issued a press release announcing our financial results, which is available on our investor relations website, along with a supplemental slide presentation. As referenced on slide five, we will be discussing non-GAAP financial measures during this call. The most directly comparable GAAP financial measures and a reconciliation of the differences between the GAAP and non-GAAP financial measures are available in our earnings release and supplemental slide presentation on our website. In addition, certain statements being made today are forward-looking statements that are based on management's current assumptions, beliefs, and expectations concerning future events impacting the company. These forward-looking statements involve a number of uncertainties and risks, including but not limited to those described in our earnings release, Form 10-Q for the period ending March 31, 2025, and other filings of the SEC. The actual results of operations and financial condition of the company could differ materially from those expressed or implied in our forward-looking statements. And now, I'd like to hand the call over to Bill.

Thanks, Lucas, and thanks to everyone joining us today. Given the recency of our last update, we'd like to use today's call to shift our focus from specific first quarter developments to a high-level recap of the exciting opportunities that lie ahead for InVenture, the spotlight on Excelsius. Aeroflex and Raffinity continue to execute on their respective strategies, and we are excited to share more about both as we move through 2025. But given the number of inbounds we feel from investors on Excelsius, We felt today's call would be a good opportunity to speak at more length about the company. At the highest level, Excelsior has tremendous momentum, but it is important to provide additional context on the compelling market opportunity that underpins a large part of the venture's value creation potential. Today, we're excited to have Dino Fodorero, Excelsior's Chief Revenue Officer, on the call to provide an insider's perspective on Excelsior's market opportunity, technology differentiators, and adoption momentum. With nearly 10 years in the data center industry, first in power distribution and quality, and now over the last two and a half years in advanced cooling with Excelsius, Kimio has had a front row seat to the infrastructure challenges shaping today's market. As CRO, he leads the client operations group, applying his operations background to driving execution and ensuring a premier customer experience across every engagement. As we've repeated often, InVenture's goal is to build companies that we believe can achieve a minimum of $1 billion in enterprise value. We'd like everyone to walk away from today's call with a higher level of context and understanding about why InVenture believes in Excelsior's ability to meet and exceed that milestone. Hearing directly from Dino, who speaks with our partners and potential customers every day, seems like a good way to provide that color.