OSI Systems, Inc.

Hello everyone and welcome to the OSI Systems, Inc. second quarter 2025 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 participate, you will need to press star 11 on your telephone. You will then hear a message advising your hand is raised. To withdraw your question, simply press star 11 again. And please be advised that today's conference is being recorded. Now it's my pleasure to turn the call over to the Executive Vice President and Chief Financial Officer of OSI, Alan Edrick. Please proceed.

Thank you. Good morning, and thank you for joining us. I'm Alan Edrick, Executive Vice President and CFO of OSI Systems, and I'm here today with A.J. Mehra, OSI's new President and CEO. Welcome to the OSI Systems Fiscal 25 Second Quarter Conference Call. We are pleased that you can join us as we review our financial and our operational results. Earlier today, we issued a press release announcing our Fiscal 25 Second Quarter financial results. Before we discuss these results, however, I would like to remind everyone that today's discussion will include forward-looking statements and the company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to such forward-looking statements. All forward-looking statements made on this call are based on currently available information, and the company undertakes no obligation to update any forward-looking statement based upon subsequent events or new information or otherwise. During today's call, we will refer to both GAAP and non-GAAP financial measures when describing the company's results. For further information regarding non-GAAP measures and comparable GAAP measures of the company's results and a quantitative reconciliation of those figures, please refer to today's earnings press release. I will begin with a high-level summary of our financial performance for the second quarter of fiscal 25 and then turn the call over to AJ for a discussion of our business and our operational performance. We will then finish with more detail regarding our financial results and a discussion of our updated outlook for fiscal year 2025. Our second quarter financial results were excellent with record Q2 revenues and operating income at the security division and solid performance by the OPTA division. We are excited by the momentum across our business and are confident that we are well positioned for the second half of the fiscal year. So let's start with a high level summary of our fiscal 25 Q2 results. First, revenues increased 12% year-over-year to a Q2 record of $420 million, with growth in each of the three divisions highlighted by the 16% year-over-year revenue increase in our security division. Second, the strong revenue growth led to record Q2 non-GAAP adjusted earnings per share of $2.42. Third, bookings were significant, and with a book-to-bill ratio of 1.2 in the quarter, We finished the quarter with a record backlog of more than 1.8 billion. Our strong backlog and robust pipeline of opportunities provide good visibility going forward. And fourth, we generated operating cash flow of 53 million in Q2, a 76 million jump over the same quarter in the last fiscal year. This performance was driven by strong profits and an improvement in working capital metrics. As you may know, We had mentioned in our previous call that our strong operating cash flow dynamics was expected to return in 25. Before diving more deeply into our financial results and discussing our updated outlook for the full fiscal year, I will turn the call over to AJ.

Thank you, Alan, and thank you, everyone, for joining us today.