Stabilis Solutions, Inc.

Ladies and gentlemen, this is the operator. We will be getting started in just a few minutes. Thank you for your patience. You will be placed back on music hold until start. Welcome to the Stabilis Solutions third quarter 2026 earnings conference call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star 1 on your telephone keypad. If at any point your question has been answered, you may remove yourself from the queue by pressing star 1 again. So others can hear your questions clearly, we ask that you pick up your handset for best sound quality. Lastly, if you should require operator assistance, please press Store 0. I would now like to turn the call over to Andy Puhala, Chief Financial Officer. Mr. Puhala, please go ahead.

Good morning, and welcome to Stabilis Solutions' third quarter 2026 results conference call. I'm Andy Puhala, Senior Vice President and CFO of Stabilis, and joining me today is our Executive Chairman and Interim President and CEO, Casey Crenshaw. We issued a press release after the market closed yesterday detailing our third quarter operational and financial results. This release is publicly available in the investor relations section of our corporate website at Stabilis-Solutions.com. Before we begin, I'd like to remind everyone that today's conference call will contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based on the company's expectations and beliefs as of today, November 5, 2026. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. The company undertakes no obligation to provide updates or revisions to the forward-looking statements made in today's call. Additional information concerning factors that could cause those differences is contained in our filings with the SEC and in the press release announcing our results. Investors are cautioned not to place undue reliance on any forward-looking statements. Further, please note that we may refer to certain non-GAAP financial information on today's call. You can find reconciliations of the non-GAAP financial measures to the most comparable GAAP measures in our earnings press release. Today's call is being recorded and will be available for replay. With that, I'll hand the call over to Casey Crenshaw for his remarks.

Thank you, Andy, and good morning to everyone joining us today. Our third quarter results were in line with our expectations and consistent with the outlook we provided on our call last quarter. Revenue improved 25% sequentially and adjusted EBITDA improved to $1.9 million. Following the conclusion of multiple large contracts at the end of 2025, we have now turned a corner with momentum continuing to build ahead of what we expect will be a record 2027 for Stabilis. The driver of the sequential improvement from the second quarter was the short-term behind-the-meter power generation contract we secured earlier this year to support the commissioning of a U.S. data center. We began delivering LNG under the agreement in August. As a result, data center-related revenue represented 17% of our total revenue in the third quarter compared to less than 1% in the second quarter. This project will conclude in the fourth quarter. Looking ahead, our focus is squarely on 2027. Our multi-year agreement to supply LNG for behind-the-meter bridge power at a U.S. data center expected to be the largest contract to date in our company's history, remains on track to begin in the first quarter of 2027, and will ramp during the second and third quarters. We are progressing as planned on the pre-commissioning for the project, with more than $15 million of specific project equipment on order and scheduled for delivery ahead of start-up. The investment required for the readiness is fully funded by customer advance payments under the contract. We are also finalizing LNG supply agreements for the project, along with backup supply alternatives to support reliable delivery. Beyond the contracts in hand, demand for small-scale LNG to support behind-the-meter power at data centers remains robust. We think about these opportunities in four phases, construction, Commissioning, Bridge Power, and Long-Term Backup. Our commercial team is bidding on additional work across multiple phases of data center demand. We believe we are well positioned to extend our growth runway well beyond 2027 and the contract that begins next year. Outside of the data center market, aerospace remains the other key growth engine of our business. Revenue from aerospace customers increased 49% year-over-year in the third quarter, driven by increasing pace of launch and testing activity and a growing number of commercial space customers. These customers have demanding purity and delivery requirements. and the operating track record we have built with them is difficult to replicate. We are currently in discussions with multiple space customers for long-term off-take agreements. Turning to Galveston, we continue to engage with prospective customers and financing partners and we believe the project offers an attractive long-term growth opportunity for Stabilis. That said, we are not ready to commit to a timeline for FID, which remains subject to arranging a final financing structure and securing sufficient commercial offtake. While we remain super excited about the long-term value of the project and what it could and we believe will create, our primary short-term and near-term growth opportunities remain in the aerospace and behind-the-meter data center power projects. To close, the third quarter marked the beginning of a transformational period for Stabilis. While fourth quarter revenues will reflect the conclusion of our short-term data center project, we expect meaningful revenue growth in 2027. We have returned to profitability on a net income basis, our largest contract is funded and on schedule, and our growth in markets are expanding. We expect this momentum to build in 2027 and we remain committed to delivering value for our customers and our shareholders through disciplined capital allocation and focused execution. With that, I'll turn the call over to Andy for a detailed review of our financials.