Quarterhill Inc.

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Good morning, everyone, and welcome to Quarter Hill's fourth quarter and full year 2025 financial results conference call. Joining us today are Chuck Myers, Chief Executive Officer, and David Chiron, Chief Financial Officer. At this time, all participants are in a listen-only mode. Following management's remarks, we will open the call for a question-and-answer session, during which analysts are invited to ask questions. Earlier this morning, Quarter Hill issued a news release announcing its financial results for the fourth quarter and full year ended December 31st, 2025. This news release along with the company's MD&A and financial statements are available on CDAR+. Certain matters discussed during today's conference call or responses to questions may constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect I'm sorry, risk factors that could affect results are detailed in the company's annual information form and other public filings available on CETA+. During this conference call, Porterhill will refer to adjusted EBITDA. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS. Please refer to the company's Q4 2025 MD&A and full cautionary notes regarding the use of forward-looking statements and non-IFRS measures. Finally, please note that all financial information provided is in U.S. dollars unless otherwise specified. I will now turn the call over to Mr. Myers. Please go ahead.

Good morning, everyone, and thank you for joining us today. Quarter Hill has been executing a multi-year transformation to stabilize the business, improve execution discipline, and return the company to sustainable profitability. As we enter 2026, Quarter Hill is operating from a stronger foundation with improving margins, positive adjusted EBITDA, and growing demand for our technology solutions. We are also seeing strong demand across our markets and continued momentum in our technology roadmap. We've made meaningful progress advancing our AI-enabled platform, which is now playing a larger role in how we compete and win. Our focus now shifts to scaling the business and building on the progress we made in 2025. Before discussing the results, I want to briefly revisit the operational actions that positioned the company for this next phase. At the beginning of 2025, we outlined a clear plan to stabilize the business and restore sustainable profitability. That plan focused on four priorities. First, implementing and restructuring an alignment of our cost structure with the scale of the business. These actions generated millions in annualized cost savings and improved operational efficiency across the organization. Second, we took targeted actions to improve the performance and economics of certain tolling programs. That work represented an important step in stabilizing the business. Third, we introduced a disciplined bidding framework. Every new project must meet defined financial thresholds and generate positive cash flow during the implementation. This approach ensures we pursue profitable growth that strengthens the company. Fourth, we strengthened our project execution and delivery oversight across the organization by aligning senior leadership more closely with key project milestones and performance tracking. These actions materially improved the operating profile of the company. As the year progressed, these benefits began translating into stronger financial performance. Let me highlight a few of the key results in the fourth quarter of the full year. Revenue for the year was in line with 2024, reflecting our deliberate focus on improving the quality and economics of our tolling programs rather than chasing volume. Gross margins expanded significantly as restructuring actions took hold and contract performance improved. In the fourth quarter, we reported gross margins of 31% and delivered our second consecutive quarter of positive adjusted EBITDA. With that overview, I'll now turn it over to Dave to walk you through the financial results in more detail.