Centrus Energy Corp.

Greetings and welcome to the Centris Energy Corp. second quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I'd now like to turn the call over to your host, Mr. Neil Nagarajan, Head of Investor Relations for Centris Energy Corp. Thank you. You may begin.

Good morning. Thank you all for joining us. Today's call will cover the results for the second quarter 2025 and in June 30th. Today we have Amir Vexler, President and Chief Executive Officer, and Kevin Harrell, Chief Financial Officer. Before turning the call over to Amir, I'd like to welcome all of our callers as well as those listening to our webcast. This conference call follows our earnings news release issued yesterday. We expect to file a report for the second quarter on Form 10-Q later today. All of our news releases and SEC filings, including our 10-K, 10-Qs, and 8-Ks are available on our website. A replay of this call will also be available later this morning on the Centris website. I would like to remind everyone that certain information we may discuss on this call today may be considered forward-looking information that involves risks and uncertainty, including assumptions around the future performance of Centris. Our actual results may differ materially from those in our forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in our forward-looking statements is contained in our filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q. Finally, the forward-looking information provided today is time-sensitive and accurate only as of today, August 6, 2025, unless otherwise noted. This call is the property of Centris Energy. Any transcription, redistribution, retransmission, or rebroadcast of the call in any form without the express written consent of Centris is strictly prohibited. Thank you for your participation, and now I'll turn the call over to Amir.

Thank you, Neil, and thank you to everyone on the call today, both longtime listeners and the growing number of those joining us for the first time. In the second quarter, we again witnessed the continued rapid growth of the nuclear industry driven by both government actions and private industry investments, providing us with great confidence in the mounting and lasting need for nuclear fuel in both the United States as well as abroad. Simply put, on the road to energy dominance, nuclear energy is being unleashed and the critical fuel required to power this growth is at the center of this nuclear renaissance. Both the existing market for the commercial LEU and the future market for commercial HALU continue to expand at robust rates, backed by public actions and an increase in private financing sources. Similarly, we are witnessing a potentially significant expansion in our already large national security addressable market with the growing number of announcements around potential micro and small modular reactor deployments on DoD sites. These military reactors would likely require the use of U.S. origin enrichment technology for which Centris is the only commercially ready technology that can meet these demands. At a macro level, through the turmoil and uncertainty in global trade environment, we continue to receive shipments of enriched uranium and our operations have not been significantly impacted by macroeconomic events. Furthermore, as a reminder to our listeners, As we look to expanding our enrichment capacity, we manufacture our centrifuges in the United States by relying upon a secure, growing domestic manufacturing supply chain. Turning to our results, as many of you know, there can be a significant amount of variability quarter to quarter due to the nature of our business. Customers in the LEU segment, which currently generate the majority of our revenue, generally have multi-year contracts to take delivery of a given quantity at a given price each year. But these customers choose when to take the delivery within the year and do not always choose the same quarter every year. Revenues and margins fluctuate depending on how many deliveries happen to fall into a particular quarter and whether those deliveries come from higher-priced or lower-priced contracts. And as such, we believe our annual results are more indicative of our progress. We again achieved robust financial results in the second quarter, including $154.5 million in revenue, a gross profit of $53.9 million, and an operating income of $33.5 million. Kevin will discuss the results and their respective drivers in more depth in a few minutes. We are currently awaiting the DOE's decision on how they plan to allocate the $3.4 billion appropriated to jumpstart domestic nuclear fuel production and how the awards will be structured. Given the administration's urgency and focus on energy dominance, we remain optimistic that a decision will be made soon. Consistent with this agenda, we believe that the only way to achieve nuclear energy dominance is to have a fully American technology and supply chain. We remain confident in our compelling investment case as the only publicly traded proven enricher that can meet commercial and national security needs, thereby maximizing the government's return on its investment. Our goal is to secure sufficient public and private capital to expand our enrichment capacity. As we await the DOE's decision, we continue to pursue our readiness initiatives to strengthen our investment case. First, we again grew our cash balance, ending the quarter with a healthy $833 million cash balance on our balance sheet. As we have previously noted, We will continue to look for ways to optimize our capital structure and strengthen our position ahead of government funding announcements to put Centris in the best possible position once funding decisions have been made. Second, as announced in late November 2024, we launched a $60 million investment in our supply chain using Centris' funds to lay the groundwork for the future large-scale deployment of our technology. To date, we have invested in facility readiness, procuring long lead items, and completing engineering designs. We also continue to hire and expand our talented workforce to make sure we are ready to start once an award is made. Third, we continue to successfully operate our HALU cascade at our Python Ohio facility. under a contract with the U.S. Department of Energy delivering HALU that the DOE urgently needs to help test the next generation of advanced reactors. Centris achieved the 900-kilogram production milestone for Phase II and to date has produced close to a metric ton of HALU for the department. In the quarter, the department also exercised an option to extend our contract through June 30, 2026. Our track record of successfully and safely meeting our targets on budget, as well as to receive the department's option to extend the contract, further validates our de-risk technology. Our technology has been proven with nearly 3 million machine hours and can meet the full range of America's commercial and national security enrichment requirements, including, but not limited to, LEU, LEU Plus, and HALU. Furthermore, there is little cost differential to deploy and operate any of those cascades. Fourth, as we continue to successfully engage with key stakeholders to articulate our value proposition, we are also seeing clear signals at both the federal and state level that governments are looking to accelerate the deployment of civil nuclear energy to meet the growing demand for stable electricity. We are also seeing an increase in the pace of private market investments in securing nuclear power to fuel their future growth. There is a strong consensus among customers as well as policymakers that there is a need for another enricher to bring new supply and new competition to the market that is otherwise dominated by foreign state-owned enterprises. Centris is proud to offer the free market a publicly traded American source of enrichment services for commercial and national security needs. With that, I will turn the call over to Kevin to walk through the numbers. Kevin?