Ducommun Incorporated

Good morning and welcome to the AMSC second quarter fiscal 2025 financial results call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's remarks, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I'd now like to turn the conference over to Nicole Goles, Director of Communications. Please go ahead.

Thank you, Jason. Good morning, everyone, and welcome to American Superconductor Corporation's second quarter of fiscal year 2025 conference call. I am Nicole Goles, AMSE's Director of Communications. Joining me today are Daniel McGahn, Chairman, President, and Chief Executive Officer, and John Kasiba, Senior Vice President, Chief Financial Officer, and Treasurer. Yesterday, after the market closed, American Superconductor issued its earnings release for the second quarter of fiscal year 2025. A copy of this release is available on the investor's page of the company's website, at www.amse.com. During today's call, remarks that managers may make about American superconductors' future expectations, including expectations regarding the company's future financial results, plans, and prospects constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including those set forth in the risk factor section of American Superconductors Form 10-K for the year ended March 31st, 2025, which the company filed with the Securities and Exchange Commission on May 21st, 2025, as well as their other filings, all of which are available on our website. the company disclaims any obligation to update these forward-looking statements. On today's call, management will refer to non-GAAP net income on non-GAAP financial measure. Tables of reconciliation of GAAP to adjusted financial measures can be found in the company's earnings release. With that, I will now turn the call over to Chairman, President, and Chief Executive Officer, Daniel McGann. Daniel?

Thanks, Nicole, and good morning, everyone. I will begin today by providing an update and sharing a few remarks on our business. John Cassiba will then provide a detailed review of our financial results for the second fiscal quarter, which ended September 30, 2025, and provide guidance for the third fiscal quarter, which will end December 31, 2025. Following our comments, we'll open up the line to questions from our analysts. We executed another quarter of strong results with revenue of nearly $66 million. This is our third consecutive quarter performing at this higher revenue level. Second quarter revenue grew more than 20 percent year over year. reflecting strong execution across our grid and wind businesses. Our grid business delivered strong growth of over 15 percent compared to last year's quarter. Our wind business also posted impressive growth of over 50 percent from the year-ago period. We delivered our fifth consecutive quarter of profitability and our ninth consecutive quarter of non-GAAP profitability. Gross margins top 30 percent again. And we closed the quarter with a strong balance sheet of over $215 million in cash. Overall, we posted a quarter of very strong results. The business is growing. Revenue came from a broad mix of sectors. About one quarter of our sales came from traditional energy projects, with another quarter from renewable energy projects. Materials projects, which include semiconductor, accounted for over one fifth, while military and other industrial sectors made up the remaining portion. This diverse mix of revenue reflects the growing demand across our end markets and the reach of our technology. We are being designed into more and more projects where our proprietary technology has become the go-to solution, which is a great validation of the value we bring. Our technology has gained a strong foothold across multiple sectors. I'll now turn the call over to John Kasiba to review our financial results for the second quarter of fiscal 2025 and provide guidance for the third quarter of fiscal 2025, which will end December 31st, 2025. John?