York Space Systems Inc.

Hello, everyone. Thank you for joining us and welcome to York Space System's first quarter 2026 earnings 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 one to raise your hand. To withdraw your question, press star one again. I will now hand the call over to Christopher Evenden, Vice President of Investor Relations. Please go ahead.

Hello, everyone, and welcome to York Space Systems' first quarter 2026 earnings call. With me on the line are Dirk Wallinger, our CEO, and Kevin Messelet, our CFO. Please note that our earnings press release is available at ir.yorksystems.com. In addition, we have posted an earnings presentation to accompany our prepared remarks on the same website. Lastly, after the call, we will post a transcript of our prepared remarks and an audio replay of this call. For those listening to the rebroadcast of this call, we remind you that the remarks made herein are as of today, Thursday, May 14th, 2026, and have not been updated subsequent to this call. During this call, we will refer to certain non-GAAP measures. A reconciliation of these measures to the most directly comparable GAAP measures can be found in our earnings press release. We will also make statements that are considered forward-looking, including those related to our 2026 outlook, future revenue, growth prospects, backlog, growth of market share and addressable market, M&A strategy, inventory building, and the benefits of the acquisitions of Orbion and Allspace. Listeners are cautioned that our forward-looking statements involve certain assumptions and are inherently subject to risks and uncertainties that can cause our actual results to differ materially from our current expectations. We advise listeners to review the risk factors and other discussions included in our 2025 Annual Report on Form 10-K, the Q1 Form 10-Q, and our other filings with the SEC. After the completion of our prepared remarks, we will open the call for questions. Now, I'll turn the call over to Doug.

Hello and welcome to York's first quarter of 2026 earnings call. I appreciate you taking the time to join us. Q1 marked a strong and focused start to the year. reflecting discipline execution against our strategic priorities and the momentum established through our successful January IPO. We delivered revenue of $116 million, up 9% year-on-year, while also adding meaningful commercial and government awards in the quarter, strengthening our backlog and positioning us for continued growth. We also advanced key strategic initiatives, including the acquisition of Orbian to enhance vertical integration and production delivery times, and early steps to build out our inventory in support of future demand. In February, we finalized 187 million commercial contract for a 20 plus satellite constellation built on the M-Class platform with a clear pathway for additional orders as the customer continues to build out its constellation. We have since completed our kickoff with the customer and begun early design work. We expect significant revenue contribution from this program in 2027. In March, we shared that York won multiple IDIQ awards supporting next-generation national security space architectures. These awards reinforce the continued confidence government customers place in York's mature production line. The IDIQs will support the development and deployment of critical national defense and warfighting space capabilities, including systems relevant to emerging, highly integrated systems that contribute to missions like Golden Dome. We expect task order issuances on the awarded contracts in the near term and are well positioned to compete, win, and execute on such orders. We also saw continued growth with our civil government customers, including NASA, where we secured an extension to the PECS contract through 2027. We are seeing strong new business activity across government, classified, and commercial markets, and our business development team is fully engaged and at full capacity across this pipeline. Turning to capital allocations. The IPO has expanded our ability to invest in advancing our first mover advantage. We have scaled our business development organization, adding capabilities across key markets, including Washington, D.C., Colorado, California, and Florida. In parallel, we are investing in inventory, initiating the build-out of the first 20 satellite platforms, allowing us to potentially reduce time to orbit by up to 75% to meet the rapid delivery demand signals from the market. The IPO also enabled us to accelerate our M&A strategy, which we are executing with the acquisition of Orbeon in Q1 and the signing of Allspace in April. As I highlighted in our last earnings call, Orbeon strengthens our supply chain control and further integrates critical systems with flight proven technology. We are seeing strong alignment and execution across the York and Orbeon teams and are enthusiastic about the ability to contribute to accelerating our delivery timelines while operating successfully as a wholly owned subsidiary. Allspace develops and manufactures next-generation, robust, GM-resistant, multi-band mobile tactical terminals for satellite communications. Their hydroterminal systems provide resilient, network-agnostic communications on the move, enabling reliable connectivity across space, air, land, and maritime domains, designed specifically to ensure connectivity is maintained in dynamic and contested environments. With this acquisition, York expects to advance its strategy to build and complete communication ecosystems operating in contested environments across the commercial and government networks. It will also further position us to expand into adjacent high-growth addressable markets, particularly the rapidly growing unmanned systems market by leveraging our space-based network. Together, York and Allspace bring complementary proven capabilities to enable real-time access to critical information and improve awareness, coordination, and mission execution across distributed operations. Allspace brings an established and highly credible platform a track record of execution across critical defense programs and a strong base of existing customers upon closing the business will continue to operate as a wholly owned subsidiary maintaining its focus and agility while contributing new york's broader strategic objectives allspace has demonstrated success supporting the u.s army and u.s navy including through the next generation tactical terminal and satellite terminal non-geostationary programs reinforcing its position as a trusted provider of resilient communication solutions. These relationships not only validate the strength of the platform, but also expand York's opportunity to deepen engagement across key defense customers. We see significant opportunity to scale into the mobile manned and rapidly growing unmanned systems market through our combined space-based network and mobile ground terminals, where demand for resilient, on-the-move connectivity is accelerating. As we have seen in current conflicts, assured connectivity in contested environments continues to present significant challenges. Allspace is a leader in providing multi-band assured communication in contested environments, and this acquisition positions us well to capitalize on that opportunity, particularly as evolving geopolitical dynamics continue to drive increased reliance on unmanned and distributed systems in contested environments. The acquisition is expected to close in the third quarter, subject to regulatory approvals. Looking ahead, we will continue to pursue strategic acquisitions across two primary lanes – assuring supply chain and vertical integration, and leveraging our space domain expertise to continue to expand into rapidly growing adjacent markets, further growing our TAM. Let me close by reinforcing that York is well positioned as we move into the second half of 2026. We are deliberately investing to build inventory and reduce delivery timelines by up to 75%, expanding portfolio capabilities like the Atlas Ground Network, and continuing to expand our broad customer base. At the same time, we are leveraging our capital to execute a disciplined M&A strategy to strengthen our ability to deliver at speed, cost, and scale, while also expanding our total addressable market by leveraging our space expertise to expand in adjacent, high-growth segments. Together, these efforts position York to capture significant opportunities emerging across an increasingly dynamic and contested global landscape. And with that, I'll hand the call over to Kevin.