Omni-Lite Industries Canada Inc.

ladies and gentlemen and welcome to your Omni light industry second quarter investor call all lines have been placed on a listen only mode and the floor will be open for questions and comments following the presentation if you should require assistance throughout the conference please press star zero to reach a live operator at this time it is my pleasure to turn the floor over to your host Amy Vetrano Palmer CFO ma'am the floor is yours

Good morning, and thank you for joining us. With me today is our Chief Executive Officer, Dave Robbins. Our call is being recorded and will be available for playback, the details of which are in our press release issued yesterday. The purpose of this call is to provide an update on OmniLight's financial performance and operations as we filed our second quarter in year-to-date 2023 results yesterday morning, August 2nd. After our remarks, we will open the line for any Q&A. If you have not received a copy of our press release, which was issued yesterday, you can find it on our website at www.omni-light.com or email us at d.robbins at omni-light.com or a.vatronopalmer at omni-light.com to request a copy. Before we get started, I would like to remind you that today's discussion will or may include forward-looking statements, including information regarding OmniLight's performance based on our views of the company's business, the environments in which they operate, our future plans, objectives, business prospects, and anticipated financial performance. These forward-looking statements are subject to future risk and uncertainties that could cause our actual results or performance to differ materially. We are also mindful of the risks and impacts and changes in the health of the general economy, including the effects of the current U.S. financial market and U.S. global commercial aerospace markets and defense budgets. All forward-looking statements should be considered in conjunction with the cautionary statements contained in our press release in the risk factors included in OmniLite CDAR filings. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call. I'd also like to mention that in addition to recorded financial results in accordance to its International Financial Reporting Standards, or IFRS, during our call we may also discuss or reference some non-IFRS financial measures. specifically adjusted EBITDA and free cash flow. A reconciliation of these non-IFRS metrics is available and included in our applicable CDAR filings and press release. Lastly, unless noted, any reference or discussion of our financial results or metrics is in U.S. dollars. I'd like to now turn the call over to Dave. Dave?

Thanks, Amy. Good morning, everyone, and thanks for joining us. I'd like to make a few comments about our second quarter 2023 performance and following comments on our current business. Second quarter 2023 revenue of $3 million marks an increase of 24% year-over-year second quarter 2022 and 12% up sequentially from first quarter 2023. Growth in the quarter was driven by a combination of increases in commercial air transport fastener products and defense electronics. Adjusted EBITDA for the second quarter 2023 was $168K, which is a continuation of its positive trajectory and an indication of our ongoing improvements in product production efficiency, managing costs, and product pricing. Further improvements will come from more efficient production of casting products, especially in aerospace and defense platform products. Bookings for the second quarter increased to $3.5 million, up sequentially from 3.2 million Q1 2023 and up year-over-year 3.4 million Q2 2022. Backlog at quarter end was a strong 4.7 million and I expect the majority of the backlog to shift in 2023. Commercial aerospace fastener demand and defense aerospace fasteners and electronics demand continues to drive the growth in revenue for 2023. and points towards continuation for the second half of 2023. Demand is growing for commercial aerospace engine casting components, evidenced by backlog into 2024 and development orders for new casting components. A new structural fastener and an automotive engine component in airborne sensor casting are in qualification phase with the expectation of pre-production and production heading into 2024. With that, I'd like to turn the call back over to Amy. Amy?