SUNation Energy, Inc.

Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like to welcome everyone to the Sun Nation Energy second quarter 2025 financial results conference call. All eyes have been placed on me to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question again, press the star one. I would now like to turn the conference over to Devin Sullivan of the Activity Group. You may begin.

Thank you, Desiree, and good morning, everyone. Thank you for joining us today for SunNation's 2025 Second Quarter Financial Results Conference Call. Our speakers for today are Scott Maskin, Chief Executive Officer, and James Brennan, the Company's Chief Financial Officer. Mr. Maskin will open with prepared remarks, followed by Mr. Brennan, and then a question-and-answer session. Before we get started, I'd like to remind everyone that prospects of Sun Nation Energy are subject to uncertainties and risks. Remarks on today's call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934. The company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing section. These forward-looking statements are based largely on the expectations or forecasts of future events can be affected by inaccurate assumptions and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results differ materially from the forward-looking statements contained in today's call. The company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. Participants should consider statements that include the words believes, expects, anticipates, intends, estimates, plans, projects, should, or other expressions that are predictions of or indicate future events or trends to be uncertain and forward-looking. We caution investors not to place undue reliance on... The company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events, or otherwise. Additional information respecting factors that could materially affect the company and its operations are contained in the company's filings with the SEC, including its Form 10-K and subsequent filings, which can be found on the SEC's website at www.sec.gov. With that said, I'd now like to turn the call over to Scott Maskin, Chief Executive Officer of Central Energy. Scott, please go ahead.

Good morning, everyone. I want to thank everybody for this opportunity today. As you know, we just released our Q2 filing, so welcome to our earnings call. I look forward to answering your questions at the end. Feel free to throw hard balls or soft balls, and I'll be answering them. So I want to take a few minutes to talk about where Sun Nation stands today, what we're seeing across the solar industry, and where I believe we're headed in the back half of 2025 and into early 2026. Let's start at the top. I couldn't be prouder of the progress that we've made as a business. We've avoided more than a few icebergs, navigating through fabricated headwinds and economic noise. And Sun Nation has come out stronger. We're stable, we're lean, and in my view, we're set up to outperform our peer set. That said, this industry just doesn't quit throwing curveballs. You hear me referring to our industry as riding the solar coaster, and before each earnings call, I look backwards and I ask myself, did I see this coming? Could I have seen this coming? And what changes would I have made? Honestly, nothing could have prepared us for what the post-election solar landscape would look like. But the results of the one big beautiful bill and its impact to the solar industry would have been like predicting COVID. Coming off a brutal 2024 where Sunation and many others saw sales drop 25% to 40%, if they even stayed afloat, I came into this year very optimistic. Not because of politics, but because of fundamentals. Job growth, domestic manufacturing, energy independence. It just made sense. Solar and storage brought Americans back to work faster than any other sector post-COVID. We deliver the cheapest per kilowatt hour of any energy source, provide grid benefits and diversification, while adding benefits unmatched to the environment and the local communities we serve. Elon Musk is even in the game. I felt like we were finally going to get a seat at the big table. But instead, we got lumped in with wind and the Green New Deal narrative. And that political baggage has hurt us. I've spent the last two months in D.C., side by side with other industry leaders and lobbyists, fighting to preserve key tax credit provisions. And so far, no luck. The fragmentation in our sector left us exposed, and we're paying for it. A lesson to be learned for sure. It also didn't help that some of the biggest names in solar collapsed. SunPower filed for bankruptcy in August of 24. Sunova and Mosaic followed in 2025. And even though those events were all finalized in June, investor confidence started tanking back in Q1. And it created a ripple effect that dragged down the entire sector. But through it all, one thing has remained true. Our greatest strength at Sun Nation is our diversification. We operate in two of the most expensive energy markets in the country, New York and Hawaii. Our diversification in the residential, commercial, service, and roofing spaces elevate us above all others, and our 22 years of experience are key differentiators. We attract confidence. Our Hawaiian team at HEC is benefiting from our shift towards service and commercial work, and HECO's new battery storage program is helping us make real progress. In New York, commercial projects face delays due to utility red tape, but we've broken through, boots are finally on the roof, and our pipeline is strong through the end of 2026 already. The shining star is that residential solar is on fire across the country, and especially our markets. While I pause to salute the federal government's decision to sunset Section 25D of the ITC at year's end, homeowners are moving fast. Sales are surging in both New York and Hawaii, and our teams are running beyond full speed. We're already planning for the next phase with new financing models lined up for 2026 and beyond. We are prepared to pivot unlike our competition. Behind the scenes, I'm incredibly proud of what we've accomplished corporately. Jim Brannon has shared many of the details, but the highlights are clear. We've cleaned up our capital stack, we've built our cash position, and we're relentlessly pursuing our targets of op-ed sufficiency and have cleared out debt. I also want to give credit where credit's due. Our board of directors has been lockstep with Jim and I, rolling up their sleeves and driving real value every single day. And as our momentum builds, so do our opportunities. Our roll-up strategy is still very much active, with multiples of companies dropping considerably. But I'm also looking closely at opportunities for smart strategic consolidation within public markets. This journey as a public CEO over the last 14 months hasn't been easy, but it's been deeply rewarding. What drives us is our team, the 188 Sun Nation employees across New York and Hawaii who continue to show up, give their all, and push through the noise. They're the heartbeat of this company. And if there's one big takeaway from the first half of 2020, the first half of this year, it's this. Solar-only companies are vulnerable. Our original thesis of acquiring top tier regional solar firms still makes sense, but I'm now laser focused on aligning with diversified energy companies, especially those in the AI, crypto, and data center infrastructure. These are the largest emerging consumers of power, and they're going to shape the next decade of demand. We need to be part of that evolution. Sunation is strong, we're beating the odds, and most importantly, we're growing and winning. So thank you for your continued confidence. Everything we do is aimed at increasing shareholder value, and that mission remains our North Star. I'll see you again next quarter, and I thank you for your time today. With that, I'll turn it over to Jim Brennan to get into the nuts and bolts.