AEVEX Corp. Class A

Hello everyone. Thank you for joining us and welcome to AVEX's second quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Jason Gursky, Vice President of Investor Relations. Please go ahead.

Thank you for joining AVEX's second quarter 2026 earnings conference call. I'm Jason Gursky, Vice President of Investor Relations. Joining me on the call today are Brian Raduenz, Executive Chairman, Roger Wells, Chief Executive Officer, and Todd Booth, Chief Financial Officer. Before we begin, please note that on this call, certain information presented contains forward-looking statements, including those related to the proposed acquisition of Black Sea Technologies, multi-domain strategy and technology integration, Our 2026 outlook, backlog, growth and M&A strategy, and capital allocation priorities. Our forward-looking statements are based on current expectations, forecasts, and assumptions, and they involve risks and uncertainties that could cause actual results to differ materially. Additional information concerning these risks are described in AVEX's reports filed with the SEC. I'd also like to note that we will discuss a number of non-GAAP financial measures on this call. Earnings Press Release and Presentation, which were also published earlier today and can be found on the Investor Relations section of our company's website, contain a reconciliation of any non-GAAP financial measures to the most directly comparable GAAP measure. The content of this conference call relates to information that is accurate only as of today, August 12, 2026. Except to the extent required by law, the company undertakes no obligation to make any revision to any forward-looking statements contained in our remarks today were to update them to reflect the events or circumstances occurring after the date of this conference call. I would like to now turn the call over to Brian for some opening remarks.

Brian, go ahead. Thanks, Jason. Good afternoon, everyone. Avex delivered another very strong quarter, our second consecutive beat and raise, driven by sustained demand and strong execution across the business. We're scaling production, expanding mission and customer reach, and strengthening our position as one of the most impactful providers of autonomous capability in the market today. and our momentum is being recognized. AVEX was recently identified by the Department of War as one of a select few defense technology primes accelerating the development and production of systems for real world missions. Roger was invited to brief the secretary and his staff at the Pentagon outlining how we will continue to make an impact for the warfighter. It's a powerful validation of the role AVEX is playing as the department moves decisively toward autonomous, affordable, multi-domain solutions, which is exactly what we built this company to provide. Against that backdrop, today we're announcing another meaningful step forward, the proposed acquisition of Black Sea Technologies. For those not familiar with Black Sea, they're a leading developer of autonomous and unmanned surface and subsea vessels for the US Navy, SOCOM, and various other customers. Their USB platforms are among the most widely produced and most operationally deployed systems in the Navy's inventory. Just as AVEX has established leadership in Group 2 and Group 3 unmanned aerial systems, Black Sea has likewise established leadership in unmanned surface and subsea capability, delivering fielded systems at scale with real operational history. By bringing these two organizations together, we will unite two battle-tested air, surface, and subsea portfolios in the market at exactly the moment the department is accelerating procurement of unmanned systems. Both companies are delivering in theater. Both are producing at volume with additional capacity beyond today's deliveries. Together, we expect to expand our ability to support customers across domains including meaningful new access to maritime pathways where AVEX has not previously participated. This acquisition is another major proof point of the strategy we've laid out, building one of the nation's most impactful providers of autonomous and unmanned systems capability. It reinforces our momentum, it strengthens our trajectory, and it advances the larger vision of what we set out to build, a company with the scale Thanks, Brian, and good afternoon, everyone.