Metatek-Group Ltd.

Thank you for standing by. This is the conference operator. Welcome to the Meditech Group Limited fourth quarter and fiscal year 2025 results conference call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity for analysts to ask questions. To join the question queue, you may press star then one on your touch-tone keypad. You'll hear a tone acknowledging your request. Should you need assistance during the conference call, you may reach an operator by pressing star, then zero. I would now like to turn the conference over to Dennis Fong, Investor Relations. Please go ahead.

Thank you, Operator. On the call today are Mark Davies, Meditech CEO, and Nick Morgan, CFO. Before we begin, Meditech would like to remind listeners that certain information discussed today may be forward-looking in nature. Such forward-looking information reflects the company's views with respect to future events. Any such information is subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected in the forward-looking statements. For more information on the risks, uncertainties, and assumptions related to the forward-looking statements, please refer to Meditech's public filings, which are available on CDAR. During the call, we will reference certain non-IFRS financial measures. Although we believe these measures provide useful supplemental information about our financial performance, they are not recognized measures and do not have standardized meanings under IFRS. Please see our MD&A for additional information regarding our non-IFRS financial measures, including for reconciliations to the nearest IFRS measures. Please note that unless otherwise stated, all references to any financial figures are in U.S. dollars. And with that, I'll hand the call over to Mark.

Good morning, everyone, and thank you for joining us. And welcome to Meditech's first earnings call as a public company. Becoming public is an important milestone for Meditech, but I view it as a continuation of the work we've been doing over many years. Fiscal 2025 was a foundational year for the company, one where the underlying operating model became much clearer as our flagship EFTG was deployed at scale. And momentum in demand aligned strongly with the long-term trends we have built to serve. We delivered record revenue, nearly doubling year over year, more than double gross profit, and achieved a long-run gross margin target of approximately 60%. Adjusted EBITDA margin was 39%, reflecting the operating leverage inherent in the model as we scale. All of this was driven primarily by the utilization of a single instrument, the EFTG, which is an important point as we look ahead. A diversified and growing logistic backlog gives us flexibility to balance work across regions, seasonal variability, and projects, which in turn drives higher utilization. That flexibility allows us to manage risk and optimize the business to produce meaningful financial outcomes. And this is central to how we think about building long-term value at Metatech. Since this is our first public earnings call, I want to briefly step back and frame the opportunity. Metatech was built to solve a very specific problem, how to bring underground wealth into view in a way that enables real economic and policy decisions. That wealth can be hydrocarbons, critical minerals, water, hydrogen, helium, or geothermal. But the common thread is that governments and national entities need high-quality subsurface data on a timely, cost-efficient basis to make informed, capital-intensive decisions. We operate in a period where energy security, critical minerals, and supply chain integrity are national priorities, not cyclical exploration themes. Once a country decides it needs to understand its subsurface, that often becomes a sovereign level program rather than a one-off exploration project. That's why our work more closely resembles mapping infrastructure than a traditional exploration deployment. Our SDG systems, are uniquely positioned to serve this need. We are able to acquire high-resolution subsurface data from the air at scale, combining data quality, speed, and economic value in a way that isn't otherwise achievable. Importantly, that means helping clients eliminate unnecessary survey work in some areas while efficiently mapping vast regions that would be impractical or impossible to cover using traditional methods. That ability to reduce uncertainty and risk early and focus investment where it matters most is what ultimately drives demand for our work. The momentum we've seen is reflected in the growth of our adjusted backlog. Since early March, adjusted backlog has increased by approximately 23 million USD to around 69 million. Importantly, that increase was driven primarily by repeat business with an existing nation-state customer in Africa. That's a pattern we see consistently. Clients typically begin with a regional survey, then return to high-grade priority areas, and over time, the work evolves into broader multi-year programs. To date, every customer we've worked with has signed up for repeat work, and our adjusted backlog continues to provide visibility into what we expect to convert over the next 12 to 18 months. Our results are driven primarily by how we deploy and sequence capacity, rather than by underlying demands. Therefore, growth in the business is not linear through the year. Activity builds as systems are deployed and projects progress, which means results tend to be weighted towards the middle and back half of the year. In early 2026, that dynamic reflects deployment timing and external factors. Our second system, the DFTG, was deployed during the second half of Q1 to its first customer contracted in the UAE. and operated as planned, completing approximately 12% of the scheduled data acquisition before the project was paused due to regional events. We have now agreed with the client to return once conditions are low, and in the meantime, the DFTG is being redeployed to another region with its next project expected to begin in the second quarter. Importantly, this kind of flexibility is fundamental to how we operate the business. as we routinely move capacity across regions as conditions evolve. The ability to redeploy systems, manage risk, and keep assets productive across regions is exactly how we nearly doubled our revenue in 2025. To summarize, fiscal 2025 was the year Metatech showed that its operating model works at scale. And this model is ready to be expanded. Today, demand is not the constraint. capacity is. With two instruments now in the field and a growing backlog driven by repeat soaring customers, the opportunity ahead is about execution and scaling that capacity against sustained demand. Through our recent IPO, we successfully raised the capital we set out to raise, giving us exactly what we need to execute our plans. That capital strengthens our balance sheet and allows us to accelerate deployment, add capacity, and convert backlog in a disciplined way as business scales. With that, I'll turn it over to Nick, who will walk through the financial results in more detail, discuss capital allocation, and provide additional color on geographic performance, margins, and costs.