Omni-Lite Industries Canada Inc.

Good day, ladies and gentlemen, and welcome to the OmniLight Industries Investor Conference Call. Our host for today's call is Amy Petrano Palmer, OmniLight CFO. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. I would now like to turn the call over to your host. Amy, you may begin.

Good afternoon, 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 issue. The purpose of this call is to provide an update on OmniLight's financial performance and operations as we did file our third quarter and year-to-date 2023 results, which were released Friday, November 10th. After our remarks, we will open the line for Q&A. If you have not received a copy of our press release, which was issued yesterday morning, You can find it on our website, www.omni-light.com, or email us at d.robbins at omni-light.com or a.vetrano-palmer 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 and 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 can cause our actual results or performance to differ materially. We're also mindful of the risks and impacts of changes in the health of the general economy, including the effects of the U.S. financial market, U.S. global commercial aerospace market, and the U.S. Department of Dispense budget. All forward-looking statements should be considered in conjunction with the cautionary statements contained in our press release and 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 reporting financial rights results in accordance to International Financial Reporting Standards, or IFRS, during our call we may also discuss or reference non-IFRS financial measures, specifically adjusted EBITDA and free cash flow. A reconciliation of these non-IFRS metrics, if applicable, is included in our applicable CDAR filings and press releases. Lastly, unless noted, any reference or discussion of our financial results or metrics are in U.S. dollars. I'd now like to turn the call over to Dave.

Thanks, Amy. Good afternoon, everyone, and thanks for joining us. I'd like to make a few comments about our third quarter 2023 performance, followed by comments on our current business. Third quarter 2023 revenue 3.3 million marks an increase of 22% from second quarter 2023 and a 4% increase over the third quarter of 2022. Growth in the quarter was driven by a combination of increases in commercial air transport, fastener products, and defense electronics. Adjusted EBITDA for the third quarter 2023 was up over 110K over Q2 2023. which is a continued significant improvement and an indication of our ongoing improvements in productivity, managing SG&A and indirect labor-related expenses, and product pricing. Bookings in the third quarter increased to 4.7 million, up from 2.7 million year-over-year, and sequentially up 1.3 million from 3.4 million Q2 2023. Backlog at quarter end was a strong 6.1 million, indicating showing continued revenue growth into 2024. New order bookings reflect strong demand for engineering fasteners in the commercial aerospace and defense needs, jet engine castings, and missile defense sensor electronics. The strong backlog in bookings underlie the increase in strengthening robust customer engagement throughout 2024 and have expectation to continue. Qualification samples and associated production plans of a new foreign engine component were produced in the quarter, which we expect to start production the second half of 2024. The first prototype optical sensor casting component was produced in the quarter in anticipation of qualification samples being delivered into Q4. In the quarter, two new bookings for high-efficiency missile sensor electronic components will start initial production in Q4 and expect to continue into 2024. Our ability to engineer and process reliably produced products with exacting specification in months and not years was the heart of winning these orders and our competitive mode and business model. With that, I'd like to turn the call over to Amy. Amy?