Calian Group Ltd.

Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Callahan Group first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question at that time, you will need to press star 1-1 on your telephone keypad. As a reminder, this conference call is being recorded. At this time, I would like to turn the conference over to Ms. Jennifer McCauley, Director of Investor Relations. Ma'am, please begin.

Thank you, Howard, and good morning, everyone. Thank you for joining us for Talion's Q1 2025 conference call. Presenting this morning are Kevin Ford, Chief Executive Officer, and Patrick Houston, Chief Financial Officer. They will present our increasing opportunities in defense and financial highlights of our Q1 consolidated results. As noted on slide 2, please be advised that certain information discussed today is forward-looking and subject to important risks and uncertainties. The results predicted in these statements may be materially different from actual results. As a reminder, all amounts are expressed in Canadian dollars, except as otherwise specified. You will also find reconciliations to updated calculations of our common operational metrics at the end of the presentation. With that, let me turn the call over to Kevin.

Good morning. Thank you, Jennifer. And again, good morning, everyone, in a very snowy Ottawa. So I hope everyone's safe and sound wherever you are. Our first quarter results aligned with our expectations in terms of revenue and operating profit. and we continue to make steady progress towards our three-year strategic plan objectives. Our revenues on a 12-month basis eclipsed $750 million for the first time and are up 9% against the previous 12 months. We signed new growth contracts valued at $154 million, ending the quarter with a solid backlog of $1.1 billion. Many of these contracts were in key markets for us going forward. On this backdrop, we are maintaining our guidance for the year as we believe we are on track to deliver our eighth consecutive year of double-digit revenue growth and record levels. I'll let Patrick provide more details on our Q1 results in a few minutes. Our diverse set of solutions and ability to pull them together for the customer's benefit is still one of the key differentiators for Kalyan in a very competitive market. Our core markets of space, health, cybersecurity, and defense are backed by strong fundamentals and favorable tailwinds. positioning us for sustained future growth. I'd like to take a few minutes to share insights into our largest market, including key customer trends and our outlook for the future. Our most promising growth opportunity right now is clearly in the defense domain. The global demand for defense solutions continues to accelerate with no signs of slowing down. Nearly all nations are working to enhance their capabilities at a faster pace to address short-term threats while simultaneously managing capacity shortages. Given this environment, we are doubling down here as we see significant macro tailwinds, including the pressure on Canada to increase spending from the new US administration, Canada's recent budget increase for border security, political discussion around accelerating the timeline to meet 2% of GDP target from 2032 to 2030 or even earlier, Ongoing conflicts in Europe are compelling all NATO countries to accelerate their defense efforts, explore wartime measures, and adapt to the potential reduction of U.S. contributions to joint operations. This growing momentum has led us to reassess our go-to-market strategy for defense. Our goal is to provide customers with a comprehensive military operational readiness portfolio, delivering mission-critical solutions that ensure operational success. We uniquely bring six main solutions to the defense market. Cybersecurity solutions, protecting systems, networks, data, and facilities. Digital solutions, connecting the systems and data streams for mission readiness. Space and terrestrial communications, building, delivering, and integrating space systems and solutions for global connectivity. Custom manufacturing, developing, building, and delivering systems components and mission equipment. training and simulation, preparing military personnel from the basics to advance collective training, and healthcare solutions, delivering health services and digital health solutions to keep military members ready for duty. We are currently delivering each of these solutions to multiple defense and security customers across the globe, including the Canadian Forces, which consumes all of these solutions. The opportunity to deliver this comprehensive suite of solutions to customers worldwide is highly compelling. National militaries across North America, UK, and Europe, international organizations dedicated to freedom, security, peacekeeping, humanitarian aid, and international organizations such as NATO, public safety and domestic security agencies at local, state, provincial, and federal levels, and defense OEMs seeking strategic partners to support the implementation of their equipment platforms. Given these macro events and urgency, Kalyan is well positioned to be a partner with solutions that have been proven in the defense market for decades. Defense is and will continue to be a key market for Kalyan. In fact, in fiscal 24, our defense solutions accounted for 44% of our consolidated revenues. And we've reached this milestone through a series of strategic initiatives. Becoming a strategic neighbor for the Canadian Armed Forces through our decades-long relationship where we have expanded our reach and breadth of solutions. Investments in technology that is relevant globally. Geographical expansion where M&A Agenda has allowed us to expand quickly into target geographies, specifically in the UK, Europe, US, and Canada. Our momentum and defense continued in Q1, securing over $50 million in new and renewed multi-year contracts. This underscores the ongoing demand for mission-critical defense solutions and highlights the value of Canada's defense, NATO and our global allies. Of the almost 30 contracts recently won, half will provide operational readiness training, including one for NATO's Joint Warfare Centre. In Q1, we also invested in some new strategic hires. We announced the appointment of retired Major General, Brock Pelletier, to the newly created role of Regional VP of Global Defence and Security. This appointment will advance our strategic business development, strengthen relationships with stakeholders, and provide operational support to drive growth and efficiencies within the region. We have also hired a Managing Director for our UK defence-based business. His role will be to manage and lead our UK operation, leveraging our recent acquisition of Madway. The objective is to take advantage of this footprint in the U.K. and grow organically in both the U.K. and European markets. We also recently announced the launch of a U.S. subsidiary focused on U.S. federal government and defense opportunities. This will enable us to include the full scope of the Canadian defense solutions to this market. In line with this announcement, we appointed two strategic positions, a COO and Senior VP of U.S. Government Services, which both have decades of experience. I believe these actions will strengthen our footprint in Canada, Europe, and the United States. If you take away a few things on Callion in defense, they should be that Callion is a significant player in the defense industry. We have a proven track record of successful global delivery. Our operational readiness portfolio stands out in the market due to its broad range of capabilities. And we are uniquely positioned to respond to growing defense demand through our full range of capabilities that we can bring to this market. And the demand for these solutions has never been greater. Now I will turn over to Patrick to discuss consolidated results for Q1 and guidance for fiscal 25. Patrick, over to you.