Cadre Holdings, Inc.

Good morning and welcome to Cadre Holdings' first quarter 2026 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 the prepared remarks, please press the star key 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 first 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 with 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 would like to remind everyone that this call will be available for replay through May 26, 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. Thank you for joining CADRE's earnings call to discuss our results for the first quarter of 2026. I am joined today by our President Brad Williams and Chief Financial Officer Blaine Browers. Entering 2026 with greater scale and an expanded set of growth opportunities, we are pleased to have delivered another quarter of financial and operational progress to begin the year. First quarter net sales growth of 19% year over year reflected continued strong and recurring demand for our suite of leading mission critical safety products across our law enforcement, first responder, military, and nuclear categories. We ended the first quarter with record orders backlog of $355 million, which included $108 million of organic increase from Q4 to Q1. Brad and Blaine will provide additional details on the backlog, but its substantial growth signals strong demand as we progress through the remainder of the year. We are on pace for record net sales and adjusted EBITDA in 2026 with 20 plus percent growth expected based upon the midpoints of our reaffirmed guidance ranges. Today's environment of heightened geopolitical tension and increased defense spending reinforces our belief in CADRE's growth trajectory. M&A has been and will continue to be a critical component of CADRE's long-term value creation strategy. Since our IPO, we have been very clear about our intent to build CADRE into a diversified, multivertical provider of mission-critical safety products, serving durable end markets. Thus far in 2026, we have completed two acquisitions, Pure Tactical in January and Alien Gear Holsters in April. While the former was $175 million strategic platform and the latter a $10 million bolt-on, the same principles guide our process. Our highly selected key criteria include leading and defensible market positions, strong margins, mission-critical products, as well as recurring revenues and cash flows. Looking ahead, we see attractive opportunities in both the public safety and nuclear markets, and intends to grow our portfolio of mission critical safety businesses through patient and disciplined capital allocation. As we assess the overall operating environment in 2026 and beyond, it is important to highlight Cadre's track record of consistent and stable growth through cycles. This is the defining characteristic of the businesses we own. Based on this resilience, we are confident in Cadre's long term outlook and remain focused on taking advantage of both organic and inorganic opportunities, supported by a strong balance sheet, robust acquisition pipeline, and the continued implementation of the CADRE operating model. In closing, I want to reiterate why this work matters. Our mission, together we save lives, is the foundation of everything we do. We feel an extraordinary sense of purpose fulfilling this mission and look forward to continuing to provide the best in class equipment that protects the law enforcement, military, and security professionals who keep us all safe every day. With that, thank you for being with us today, and I will turn the call over to Brad. Brad, over to you.