Omni-Lite Industries Canada Inc.

Good day, ladies and gentlemen, and welcome to your Omni Light Industries, Inc. Q2 24 financial results conference 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. Welcome, Amy. The floor is yours.

Thank you and good morning. Thank you for joining us today. 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 is in our press release issued yesterday. The purpose of this call is to provide an update on OmniLight's financial performance and operation, as we did file our second quarter 2024 results yesterday, July 31st. After our remarks, we will open up the line for any Q&A. If you have not received or seen a copy of our press release, which was issued yesterday, you may find it on our website at www.omni-light.com or email us at drobbins 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 risks and uncertainties that could cause our actual results or performance to differ materially. We are also mindful of the risks and impacts of changes in the health of the general economy, including effects of the current U.S. financial market, U.S. global commercial aerospace markets, and the U.S. Department of Defense 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 any non-IFRS financial measures, specifically adjusted EBITDA and free cash flow. A reconciliation of these non-IFRS metrics, if applicable, is included in our CDAR filing and press releases. Lastly, unless noted, any reference or discussion of our financial metrics are in U.S. dollars. I would 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 in year-to-date 2024 performance, followed by comments on current business. Second quarter 2024 revenue was a high watermark at $4.32 million, increase of 42% from fiscal year 2023. And the year-to-date revenue was $8.6 million, a 49% increase year-over-year. Top-line growth in the quarter was driven by a combination of increases in commercial aerospace components in general, and specifically newly designed Inconel fastener products, and two missile sensor electronic components. Adjusted EBITDA for the second quarter, 2024, was $552,000, with year-to-date adjusted EBITDA of $1.4 million. This EBITDA contribution level represents a combination of repeat production deliveries and investment in new product development, which was at a high level in our second quarter. Additionally, forging products, electronics, and casting products all had positive EBITDA contribution and continued improvement over a prior year. Bookings for the second quarter were $2.7 million, which levels the backlog at a healthy $4.7 million. as we go into the third quarter. The bookings profile in the quarter had a high proportion of near-term spot buys for aerospace component supply chain shortages and engineering development orders. The drivers behind our bookings pipeline, namely healthy build rates for commercial aerospace and sustainment and investment in new sensor electronics for defense, is at historic levels. We expect our bookings profile to reflect these high levels of rush spot buys on the commercial aerospace side and longer-term buys for defense components for named and newly developed missile programs for the second half of 2024. With that, I'd like to turn the call over to Amy. Amy?