Morning, everyone. Welcome and thank you for joining Nanalysis Scientific Corp.'s Q2 2026 earnings call. I'm Jake Bouma, an IR consultant for Nanalysis. Today on the line discussing Nanalysis' Q2 2026 financial results and company highlights are the company's President, CEO, and Founder, Sean Krakiwsky, and CFO, Heather Kury. Following the remarks, we'll open up the call for an analyst Q&A session. Before handing over the call to Sean and Heather, please note that information we present today could contain Forward-Looking information that is based on management's expectations, estimates, and projections. Please consider the risk factors, including those in the filings made by Nanalysis on SEDAR when reviewing this information. Also, all amounts discussed will be in CAD unless otherwise noted. With that, I'd like to turn the call over to Nanalysis CFO, Heather Kury. Thank you, Jake. And thank you to everyone joining us on the call today for taking the time out of your day to allow us to share with you the progress we are making here at Nanalysis. I will begin by walking through the financial results for the second quarter, which ended June 30, 2026. All amounts referenced are in CAD. For the three months ended June 30, 2026, the company reported consolidated revenue of CAD 9.722 million an increase of CAD 146,000 or 1.5% over the corresponding period in 2025. Product revenue declined year-over-year due to the termination of third-party equipment sales. Security Services revenue increased year-over-year, primarily due to increased levels of project-related work associated with the Airport Security Maintenance Business. Gross margin percentage for product sales for the three months ended June 30, 2026 was 65%, compared to 61% in the corresponding period from 2025. The improvement in the second quarter was primarily attributable to operational improvements. Gross margin percentage for Security Services for the three months ended June 30, 2026 was 12%, compared to 10% in the corresponding period from 2025. The improvement was driven by operational efficiencies, including enhanced logistics processes, more effective management of overtime and on-call hours, as well as higher levels of project-related service activity. The company recorded adjusted EBITDA of CAD 881,000 for the three months ended June 30, 2026, an improvement of CAD 1.343 million compared to the corresponding period in 2025. The improvement was primarily attributable to improved operational performance, which included increased Security Services customer service, lower sales, marketing, general and administrative expenses, and included ensuring that all eligible investment tax credits had been filed. Net loss was CAD 666,000 for the three months ended June 30, 2026, an improvement of CAD 1,456,000 compared to the corresponding period in 2025. The reduction in net loss reflects improved business performance. With that, I'll turn the call over to our Founder and CEO, Sean Krakiwsky. Sean? Thanks very much, Heather and Jake. We're quite proud of our accomplishments in the second quarter. As you can see, our adjusted EBITDA number, which is kind of a proxy for cash generation that we use, which is important to our bank and also our internal management team and our board, has gone up substantially. We're working very hard to keep our company going in the direction of improving that number over time. With regards to the business operations of our company, we have seen some modest improvement in services business gross margins year-over-year. But really, we haven't seen what I consider the sort of important part of the improvements associated with the great work that Marc Tomlinson has done. I expect to see several emblematic criteria of how that business is going in a great direction going forward. Keep a look out for those types of things. With regards to our core technology products, our benchtop NMR spectrometers, we've worked very hard to improve the management of our international dealer network in territories like Japan and U.K. and India and China and Indonesia, and we see a lot of good things there. Substantial reorganization of how that international dealer network is managed and the focus we put on it. We're already seeing the fruits of that. With regards to the direct sales organization for our benchtop NMR spectrometers, we've totally revamped it in light of some of the acquisition-related activity of the past that didn't work out so well, but our organic efforts are in fact looking very promising. We expect to see the fruit of that basically over the next coming months. I've already seen it in the numbers thus far, and we expect to see strength of that going forward, which of course is coupled with ongoing innovation of our products, and our products have had better performance than they ever have before. We're really excited about the ongoing performance of our products and new products that we'll be launching that expand the market for us. Just as a side note with regards to our financial statements, how you view innovation there, don't just look at the income statement and the number for R&D there. You have to look at the notes, and you'll see that we continue to spend a substantial amount on technology innovation, and we'll continue to do that. It's just that we receive a tremendous amount of cost recovery monies from various governments, both in Canada and France, that nets off against the gross R&D spend. Don't be fooled by that small number you see on the income statement. If you want, contact me or look in the notes, and you'll see we still spend a healthy amount on innovation, and we always will. We're just very fortunate to be able to get subsidies for that R&D activity. As I've mentioned many times in the past, there's a tight correlation between our core technology products, namely benchtop NMR spectrometers, and some of the other things we do in our technology business, namely MRI and high-field NMR activity, which we do through partnerships as QUAD Systems in Switzerland. Also companies like IMRIS, which is a private equity-backed clinical MRI company in the U.S., which we work very closely with, and very proud of the activity that's going on in those areas. We are working very hard on some really cool licensing opportunities and recurring revenue opportunities with those customers going forward. Just to touch on some macro issues, as an example, one of our new directors on our board, Dr. Werner Maas, is a very well-known figure in the NMR industry. In fact, was the President of Bruker BioSpin for many, many years and was an employee of Bruker for roughly 20 years, and he saw that company go from a relatively small revenue to CAD 1 billion in revenue overall. Quite a knowledgeable person when it comes to NMR and scientific instrumentation and analytical instrumentation and so on. One of the things that he's been emphasizing recently, which we are seeing in the numbers, is that pretty much all instrumentation companies had a kind of a weak sort of first half of the year. Everybody's expecting quite a bit of improvement in the second half of the year. We are seeing that as well in addition to the normal seasonality that we have, which usually bodes well for Q4. Now it's sort of the macro event that's related to some of the budgetary stallings that occurred in the U.S. at the beginning of the year and the uncertainty, which didn't just affect the U.S. but also had ripple effects all around the world. We are seeing that in our sales pipeline. In months like July and August, where in previous years we'd essentially just tell our salespeople, "Hey, get your vacations in in July and August." We are not saying that this year, and we are seeing a lot of exciting opportunities. We expect to see continued progress overall with our business and with the new cost structure that we put in place in our company that our CFO has ensured that we're positioned for really good profitability going forward as our revenue increases. Really excited about all the hard work we've done and how we're positioned for significant improvement in our financial performance going forward. With that, I'd like to turn the meeting back over to Jake and see if there's any questions from anybody in the audience today. Thanks very much for joining us, by the way. Thanks, Sean. If anybody in the audience has a question, please feel free to use the raise hand button or just unmute yourself and feel free to ask a question. I see a lot of familiar faces on the call. I see Walter in Belgium, and I see all kinds of people that I know are familiar with the company. I see Doug probably in Muskoka. I'll try to maybe get the juices flowing a little bit. Yeah, maybe I'll just touch on the last part of my talk and talk about how probably several of you were expecting maybe some more explosive growth in Q2. We almost sort of saw some of that, but ultimately, kind of didn't get things rolling before the revenue recognition cut off of June 30th. Again, it's related to this theme that second half of the year is looking totally different than the first half of the year. Again, this is substantially because of macro issues. We do expect to see significantly better numbers in the second half of the year, starting off in Q3 and so on. If you remember, I don't know if any of you remember this, but if you remember what our Q4 numbers were in 2024. I know that's going back a little ways, but essentially it's before we started to terminate some of our third-party businesses, which were related to acquisitions, and we kind of went organic. They were also before a lot of the uncertainty that was created by the new U.S. administration sort of in Q1 of 2025. Right? If you can all hearken back to the Q4 2024 timeframe, which of course preceded our current CFO, but if you remember the adjusted EBITDA numbers and the operating cash flow numbers that we did then with the revenue that we were able to do in that quarter, that kind of foreshadows what our potential is. Right? The reason why we weren't able to keep that potential is because we had to shed some businesses because of our legacy issues associated with acquisitions, and then the macro uncertainty came in with the Trump tariffs and so on and so forth. But I think it really is emblematic of anybody who wants to sort of see in the form of financial numbers what our potential is. You can look at that quarter and not only do I expect to get back to those kind of revenue numbers, but we have a way better cost structure in place. Most importantly, everything we're doing now is organic, and so we have full control of our destiny and how we resume growth. That's just sort of an interesting thing to look at if you have some time on your hands and you want to say, like, "What could this company do going forward if it achieved X number of revenue in a quarter and so on, now that they have even a better cost structure in place?" Not sure if that is going to get anybody to put up their hand. But those are the types of things that I think about every day and we're working on every day in our business. Okay, I see Walter with a half smile on his face, a little bit of a laugh. Walter, you are on mute if you are trying to say something. Do you hear me? Yes, we do now, Walter. Okay. I am happy that you are optimistic about the future of the company. I am too. I am patient, so I am waiting for the results to happen in the next couple of quarters. I am waiting. Terrific, and appreciate that, Walter, and thanks very much for your support over the years. Yeah. We are working very hard to make it worthwhile, so thanks for your comments. Okay. Okay. Well, it appears as though we are going to have to wait for the next earnings call to get some more interaction with everybody, but I really appreciate the time you have spent on this Monday morning. I do know I need to address one other item. Those of you in Canada, especially, may have seen some of the news with regards to the U.S.-Canada trade turbulence going on between the administrations. I just want to confirm to everybody that we are exempt from any of these tariffs that are being discussed in the popular media. So you do not need to worry about that. Over the weekend, I was working very hard to get U.S. legal on the phone and also some of our partners in the United States who are part of advocacy for the import of Canadian products because it is in their best interest. Again, not affecting us, so nobody needs to worry that Nanalysis is affected by the tariffs mentioned recently in the popular media. Okay. Okay. Sorry, Walter, were you- No. I was listening. Okay. Well, Jake, I guess with that, I will turn it over back to you to thank the audience for participating. Yeah. Thank you, everybody. If there is any questions that do come up, feel free to reach out to us anytime directly. Again, I would like to thank everyone for joining us today, and we look forward to talking to you again on our third quarter 2026 call in November. You may disconnect. Thanks, everybody. Have a great rest of your summer. Thank you.