Cadre Holdings, Inc.

Ladies and gentlemen, good morning and welcome to Qadri Holdings' fourth quarter 2025 conference call. Today's call is being recorded. All lines have been placed on mute. If you would like to ask a question at the end of prepared remarks, please press the star key and then the number one on your touchtone phone. At this time, I would like to turn the conference over to Matt Berkowitz of the IGB Group for introductions and the reading of the Safe Harbor Statement. Please go ahead, sir.

Thank you, and welcome to today's conference call to discuss CADRE's fourth quarter results. Before we begin, I'd like to remind everyone that during today's call, we will be making several forward-looking statements, and we make these statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our best estimates and assumptions based on our understanding of information known to us today. These forward-looking statements are subject to the risks and uncertainties that face CADRE and the industries and markets in which we operate. More information on potential factors that could affect CADRE's financial results is included from time to time in CADRE's public reports filed to the Securities and Exchange Commission. Please also note that we have posted presentation materials on our website at www.cadre-holdings.com, which supplement our comments this morning and include a reconciliation of certain non-GAAP financial measures. I'd like to remind everyone that this call will be available for replay through March 25, 2026. A webcast replay will also be available via the link provided in yesterday's press release, as well as on CADRE's website. At this time, I would like to turn the call over to CADRE's chairman and CEO, Warren Kanders.

Good morning, and thank you for joining CADRE's earnings call to discuss our results for the fourth quarter and full year 2025. I am joined today by our president, Brad Williams, and Chief Financial Officer Lane Browers. Fiscal 2025 was another year of steady progress for CADRE. Our focus remains consistent, building a company that delivers mission-critical technologies for professionals operating in demanding environments while generating disciplined and sustainable growth for our shareholders. Throughout the year, we made progress in three areas, strengthening our portfolio, integrating our businesses, and continuing to build demand across our core markets in public safety, defense, and nuclear safety. First, we expanded our capabilities with the acquisition of Kars Engineering. Kars is a well-regarded provider of engineered solutions serving the nuclear safety market. The business brings deep technical expertise and longstanding customer relationships. And that fits well with our strategy of investing in specialized companies that operate in highly demanding environments. During the year, we also signed an agreement to acquire Tier Tactical, a company widely recognized for its advanced protective equipment and strong reputation with military and law enforcement customers. That transaction closed earlier in 2026, and we are excited to welcome Tier to the CADRE platform. We believe their capabilities and product portfolio are highly complementary to our existing businesses and further strengthen our position in mission critical safety solutions. At the same time, we continue integrating the businesses we have brought into CADRE over the past several years. Building a strong portfolio is only the real first step. Real value comes from operating as a cohesive platform, aligning leadership sharing engineering capabilities, and strengthening how we go to market. We made solid progress on that front in 2025. Operationally, we also saw strong demand across many of our end markets. Our team secured a number of meaningful contract wins during the year, particularly in advanced sensor technologies and blast mitigation seating, areas where performance and reliability are essential. These programs reinforce the trust our customers place in our technologies and in the Cadre brands. As a result, we continue to build backlog, providing increased visibility as we move forward. That backlog reflects both the strength of our portfolio and the long-term nature of many of our customer relationships. Importantly, we enter the new year with a strong balance sheet. That financial strength allows us to remain disciplined. but also opportunistic. Continue to invest in your businesses while pursuing acquisitions that expand our capabilities and market reach. We maintain an active M&A pipeline and are focused on opportunities that fit our strategy and meet our return thresholds. Stepping back, what's encouraging is the consistency of our progress. Year after year, we've continued to strengthen the platform, expanding our capabilities integrating our businesses, and serving the markets where our technologies truly matter. I would like to thank our employees across the organization for their commitment and expertise, as well as our customers and partners for their continued trust. And I want to thank our shareholders for their ongoing support. With that, thank you for being with us today. I will turn the call over to Brad. Brad, over to you.