Ultralife Corporation

Thank you for standing by and welcome to Ultralife Corporation's second quarter 2026 earnings conference call. Currently, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. To remove yourself from the queue, you may press star 1-1 again. I would now like to hand the call over to Jody Burfening.

Please go ahead. Jody Burfening Thank you, Lateef, and good morning, everyone. Thank you for joining us for AlterLife Corporation's earnings conference call for the second quarter of fiscal 2026. With us on today's call are Mike Manna, AlterLife's president and CEO, and Phil Fain, AlterLife's chief financial officer. The earnings press release was issued earlier this morning, and if anyone has not yet received a copy, I invite you to visit the company's website, www.ultralifecorps.com, where you'll find the release under investor news in the investor relations section. Before turning the call over to management, I would like to remind everyone that some statements made during this conference call contain forward-looking statements based on current expectations. Actual results differ materially from those projected as a result of various risks and uncertainties. The potential risks and uncertainties that could cause actual results to differ materially include uncertain global economic conditions, reductions in revenues from key customers, delays or reductions in U.S. and foreign military spending, acceptance of new products on a global basis, and disruptions or delays in supply of raw materials and components due to business conditions, global conflicts, weather or other factors not under the company's control. Company cautions investors not to place undue reliance on forward-looking statements which reflect the company's analysis only as of today's date. The company undertakes no obligation to publicly update forward-looking statements to reflect subsequent events or circumstances. Further information on these factors and other factors that could affect Ultralife's financial results is included in the company's filings with the Securities and Exchange Commission, including the latest quarterly report on Form 10-Q. In addition, on today's call, management will refer to certain non-GAAP financial measures that management considers to be useful and differ from GAAP. These non-GAAP measures should be considered supplemental to corresponding GAAP figures. With that, I would now like to turn the call over to Mike. Good morning, Mike.

Good morning. Welcome to Ultralife's Q2 2026 earnings call. Earlier today, we announced Q2 revenue of $47.9 million with operating profit of $3.4 million which resulted in an EPS of 15 cents per share. We had positive progress on several fronts during the second quarter. We continue to build a strong and growing backlog supported by an expanding product portfolio as recent product developments transition from development into commercialization. In addition, our new plant leaders in Newark and Raynham are continuing to gain experience and drive operational improvements. Their teams are executing key gross margin initiatives which have begun to deliver measurable benefits and are expected to contribute further improvements as these efforts gain traction. Our communication systems business is gaining momentum supported by multiple new product releases, a growing opportunity funnel, and active development programs focused on expanding revenue and improving business stability. We remain confident in the long-term upside of this business and are continuing to invest in product development, customer engagement, and projects that position us to pursue large sustained revenue opportunities. With dispensed spending continuing to emphasize forced modernization and advanced network capabilities, our product portfolio remains closely aligned with emerging program requirements. We believe this favorable spending environment will support incremental program awards and long-term growth opportunities. We exited the quarter with a record backlog of 117.5 million, with over 14 million of the backlog from products released within the last year, including the conformal wearable battery, an updated man-packed radio battery for a NATO partner, new amplifiers, new speakers, and new battery packs for medical and safety customers. We expect our brand realignment to complete over the back half of the year, consolidating under the Ultralife Master brand. which will bring clear, concise messaging to our customers that we design and deliver critical RF and portable power products. I will now turn it over to Phil to talk through the detailed numbers.