Omni-Lite Industries Canada Inc.

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 issued yesterday. The purpose of this call is to provide an update on OmniLight's financial performance and operations as we filed our first quarter 2024 results yesterday, May 16th. After our prepared remarks, we will open up the line for Q&A. If you have not received a copy of our press release, which was issued yesterday, You may find it on our website, www.omni-light.com, or email at d.robbins 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 we operate are future plans, objectives, business prospects, and anticipated financial performance. These forward-looking statements are subject to future risk and uncertainties that could cause an actual results or performance to differ materially. We're 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, U.S. and global commercial aerospace markets, the U.S. defense, and budgets. 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 results in accordance with International Financial Reporting Standards, or IFRS, during our call we may also discuss or reference some non-IFRS financial measures, including adjusted EBITDA, performer adjusted EBITDA, and free cash flow. A reconciliation of these non-IFSR metrics, if applicable, is included in our applicable CDAR filings and press releases. Lastly, unless noted, all reference or discussion of our financial results or metrics are in U.S. dollars. I would like to now turn the call over to Dave. Dave?

Thanks, Amy. Good afternoon, everyone, and thanks for joining us. I'd like to make a few comments about our first quarter 2024 performance, followed by comments on our current business. First quarter 2024 revenue was a record-breaking $4.3 million. which marks an increase of 57% from first quarter fiscal year 2023, and a 29% sequential increase over fourth quarter of 2023. Adjusted EBITDA for the first quarter 2024 was $884,000, the result of operating leveraged on increased revenue, a favorable mix in revenue profile, and a continued improvement in operating margin in our casting business. Revenue increase was a combination of increased production rate demand on mature component content products and new products engineered in 2023 that started into initial production in 2024. Bookings for the first quarter were 3.7 million, which keeps backlog at a healthy 6.5 million as we go into the second quarter. Generally, our business conversion profile is 80 to 90% of our backlog converts to revenue in two to two and a half quarters. And 20% to 30% of bookings in a quarter convert to revenue in that quarter. This dynamic reflects a supply chain with a mixed climate of rush demand or spot buy and planned buying. The backdrop for this is a landscape of large footprint manufacturers struggling to produce product because of raw material supply disruptions diminished skilled labor resources, and increased regulatory environment, coupled with onshoring efforts for reliable suppliers, has created an opportunity for small, agile, qualified manufacturers to gain market share. This is especially prevalent for aerospace and defense-related specialty components of which OmniLite has capability to engineer and produce. In general, this is and what has been the thesis behind what is driving our revenue growth and profit profile. Following on from remarks from Q4 2023, newly designed high temperature FASFA components and missile sensor electronics are playing a large role in the revenue growth in 2024. With that, I'd like to turn the call over to Amy. Amy?