Good afternoon and good morning in North America. Thank you for joining Tekna's presentation of the 3rd quarter interim results. With me are our CEO Claude Jean and CFO Yves Lemoyne. We have about 20 minutes of presentations followed by a Q&A session. During the live webcast, questions can be submitted directly through the chat feature integrated into this video player. So to access the chat, simply click on the chat icon in the top right corner of the player. Over to you, Claude. Thank you, Arina. Welcome everybody for joining us this morning or this afternoon. I'm pleased to report a very good quarter again for Tekna. Next slide, please. So first, let me start with presenting Tekna briefly for those that are less familiar. So at Tekna, everything we do is based on on inductively coupled plasma technology, which is, that we call ICP. So what it does, ICP generates an extremely hot gas stream that are used to produce metallic powder, also to simulate harsh environment that the space rockets are going through when they, when they come back in the atmosphere. So in the business, we operate 2 business areas. So the material business area uses our proprietary ICP atomizer to produce high-performance, highly spherical metallic powder. So while we produce material like aluminum, tungsten, and tantalum, most of our revenue are derived from titanium. We really focus on the most difficult material to make. Which titanium and refractory are a good example of. And this business area is really a growth engine of the company. We're now standing at about $32 million trading 12-month revenue. With contribution margin above 50%. In the system business area, we sell our ICP equipment for new material development or production. So typically university R&D, corporate R&D, research center, but we also sell it for people that want to use it to produce spherical powder. But non-competing with our titanium business. So the system business area is more lumpy by nature when it comes to revenue. And order intake, but it provides extremely healthy contribution margin above 60%. And we see a lot of opportunity to grow this business beyond the current level. So both businesses operate production and R&D in our headquarters. in, in Sherbrooke, Quebec, Canada. We currently stand at about 130 employees— 38 employees, and we have 95 active patents. Next slide, please. So now let me explain where we play in the value chain of additive manufacturing. So at Tekna, in the powder and the material business area, we procure raw material either in the form of wire or angular powder that are approved and fully traceable sources, which is very important. Because we, we sell to customers in a highly regulated market. So then we use our ICP technology to turn those materials into highly spherical powder. That are needed for, for additive manufacturing. So what we do is really based on, on more than 35 years of expertise and development of our ICP technology. So, so our technology can produce the highest quality powder when it comes to sphericity, density, size control, flowability, and especially purity. And then we ship worldwide. We have capacity to ship worldwide, either direct to customer or through distributor. We ship to service bureau, we ship to a printer company. Or OEM. And as I said, we really focus on the most demanding material, the highly regulated and sticky market, particularly aerospace and defense. And medical. Next slide, please. Now let me comment more specifically about, uh, the additive manufacturing market. According to AM Power 2026 report, additive manufacturing is forecasted to grow at 18% CAGR between now and 2030, and more specifically, the material segment that we play in is forecasted to grow at 16% CAGR, currently at $1.2 billion actually in 2025 to $2.5 billion in 2030. And within the material segment, titanium and refractories that we focus on are the, the fastest growing market and the highest value material. Now there, there are several reasons why, uh, manufacturers are switching towards additive manufacturing. So, so first of all, you can manufacture nearly, you know, any, any type of shape that cannot be done with traditional manufacturing. So when it comes to part performance, When it comes to weight, you know, by being able to only put material where you really need it, you can significantly reduce the weight of of a part. Part consolidation also is extremely important. So rather than getting, you know, 100 or sometimes 1,000 different subcomponents from all over the world, you simply put powder in the printer and you print the part. So it's much more flexible. Of course, you can get much faster turnaround time. And you can even have distributed production. You can put printers close to the, to the point of use. And the adoption of additive manufacturing is also really accelerated by several megatrends. that we're observing. So of course, geopolitical development and reshoring of manufacturing plays a big role there. Digitalization of supply chain, again, you know, just putting powder in the printer, downloading a part layout in the printer, and then printing it, you know, it's much more straightforward than getting parts from all over the world. If you look at all the drones development in humanity, they're making a lot of use of additive manufacturing. And also space exploration and increased defense spending is also another trend that is pushing adoption. of additive manufacturing. And we clearly see that in the demand that we're experiencing this year. Next slide, please. So now let's dive into the highlight of the 2 business areas. Next slide. Okay, so again, Tekna is reporting a very strong quarter. Across the board in the, in the 2 business areas with revenue of $13.4 million, up 61% year over year. EBITDA reached an all-time high at $1.9 million compared to $0.3 million, uh, same quarter last year, and adjusted EBITDA reached $2.9 million. Uh, Yves will explain later the adjustment. So the inflection point that we talked about already 5 quarters ago is definitely holding. Contribution margin was 50.7%. Again, impacted by a one-off inventory write-down that we'll explain later also. So adjusted contribution margin sat at 55.2%. Order intake doubled year over year at $10.6 million, uh, really on the back of increasing demand of, of material. So our total backlog remained very strong at $55.5 million compared to $18.2 million a year ago, and it's really providing much better visibility on, on revenue. getting into 2027. And, and free cash flow really stands out for the quarter at $5.6 million compared to negative $0.5 million, uh, in the same quarter a year ago. Uh, it's really supported by strong EBITDA and net working capital reduction. And as you will see later, we have a very healthy balance sheet. It remains extremely healthy. And as you can see there on the, on the right, not only quarter to quarter, uh, you know, year over year, but we also see sustained progress quarter to quarter. So as you can see, our revenue keeps, keeps going up since Q3 last year, as well as our EBITDA numbers. So that's very encouraging, very positive overall. Next slide. Okay, so, uh, so as I, I alluded to earlier, uh, we, uh, we have decided to, uh, to look at our, uh, at our strategy, uh, execution and really focus on strengthening our platform, making sure that we focus on the core business. So as a result of that, we have decided to discontinue the Nano Nickel/MLCC, a multilayer ceramic capacitor that we have been developing for several years. Despite the very good technical progress that we have made, with our partner, we have realized that the path to commercialization would be, would be much longer than anticipated, and probably the, the volume also would be lower. So, so we have reviewed our strategic portfolio and we have concluded to discontinue this program. As a result, we are announcing a $3.8 million impairment. And it will really allow us to, to focus on our core business. And I will talk about, you know, where we have redirected our R&D resource since we made that decision. On another hand also, over the past few years we have been, you know, reducing our fixed cost base, streamlining our operation, reducing our footprint. We have significantly reduced our footprint in Europe, in Canada, as well as in Asia. We are changing the, the structure in Asia. So as a result of that, uh, we, uh, we, we have done an inventory write-down of $0.6 million, uh, because of that. And also we have incurred restructuring costs of $0.4 million. And we expect that those measures will, uh, allow us to realize about $1 million per year recurrent cost savings starting in 2027. So we're now positioned, uh, to, uh, to be much more leaner, much more efficient, much more focused on our core business. Next slide. Okay, now about, uh, the, the 2 business areas. So first, on material, uh, revenue was $8.4 million, up 20% year over year. Uh, driven by continued strong demand in aerospace and defense. Uh, and on a trailing 12-month, uh, we're now at, uh, about $32 million. $32 million. Uh, contribution margin was 50%. It's in line with our target. Uh, so, uh, the, uh, the lower— the, the fine particle that I will explain a bit later in the course are weighing a bit on our margin, uh, but we're still in line with target. Order intake was very strong at $9.3 million, up 80% from last year. So our backlog increased to $17.1 million. And after the, the quarter end, we announced 2 big orders in the medical market. Totaling $2.8 million, one from a European distributor and one from a US contract manufacturer. So it's really confirming our momentum in this very important market for us. And we also see good development for the, the coarse powder in Asia and North America for non-regulated application. So it's highly diversifying our, our customer base, which is, which is very good. Next slide, please. Now, uh, on, uh, on the system side, uh, sorry, sorry, uh, I lost my— okay, on the system side, uh, the quarter was really driven by, uh, by execution. So revenue was, uh, $5 million, uh, basically mostly due to the, the big order that we announced at the end of, uh, at the end of Q2. So, uh, it's a very high revenue quarter for the, uh, the system business area. Uh, contribution margin at 52%, but that includes also a $0.5 million one-off inventory write-down. So if you adjust contribution margin for that, that's 62.6%. It's above our 60% target. Order intake was $1.3 million, and as we explained several times, uh, order intake and revenue are a bit more lumpy. in the system business area, but our pipeline is still very good, particularly in the plasmasonic segment. So, uh, so, uh, we— the pipeline keeps developing, so we're expecting more orders to announce in the next quarter. quarters. And the backlog is currently at $8.3 million. It's 5 times higher than a year ago, so also procuring much better visibility in, in our 2027 revenue. Next slide. So that's covered the, the 2 business areas. So now let's turn to Yves for the, the financial review. Thank you, Claude. Hello, everyone. Beyond the contribution margin of our 2 business areas, we have also worked on building a more efficient indirect cost base. Our efficiency program has now reached maturity and the savings are here to stay. Indirect personal costs were $3 million this quarter. 32% below peak levels. Headcount is down by 32% since Q2 2024, from 203 to 138 employees. In Q3, we took further targeted actions as part of the simplification. These are restructuring costs mentioned earlier. That means it's simple. As revenue grows, More of it now goes straight to earnings. Next slide now, please. Adjusted EBITDA reached a record $2.9 million. That's up $2.4 million from last year. Systems led the way with excellent project execution and a 63% adjusted contribution margin. Materials had further growth through a higher volume. Reported EBITDA was $1.9 million after a million of non-recurring items. This record result shows that with our leaner cost base, we can generate higher earnings as revenue grows. Next slide, please. on system projects. Now cash, which is the highlight of the quarter. Operating cash flow reached $5.7 million, including a $3.8 million working capital release driven by our customer prepayments CapEx remained very limited at $100,000 for maintenance and intellectual property. This confirms that with our past investments, we are really well positioned to meet growing market demand. Cash. Cash grew by $4.5 million in the quarter to $22.5 million. Next slide, please. Then our balance sheet. Sorry, then our balance sheet has now been stronger, never stronger. We now have $17 million in net cash, 73% equity ratio. a little bit. We are a solid and resilient company and a reliable partner for our customers. Net working capital is now to 25% of revenue. This shows our discipline. We need less capital to grow and more of our growth turns into cash. In total, we have close to $28 million of liquidity. So we have everything we need to fund our growth. Yeah, can you change? Yeah, so if you look at how our atomization process works, the atomization process, and it's the same for every powder producer, produce a particle size between approximately 5 micron and 105 micron. And the prime powder, what we call prime, that is in very high demand, It's between 20 and 53 micron. It's used by the most demanding application in aerospace, medical, and defense. By laser powder bed fusion, particularly. But since our process produces particles between 5 and 105, we produce what we call residual from production. So we produce what we call the fine, below 20 micron, and the coarse, above 53 micron. So the story is quite different between the two. If you look at the coarse powder, that presents very, very good value creation opportunity. So specifically in laser powder bed fusion, they are using 20 to 53 micron because they are basically printing the part layer by layer. It is about 50 micron thick. But as the printer becomes more bigger, more laser, more powerful, they can actually use coarser powder and thicker layer such that the printer becomes much more efficient, much more productive. Claude, back to you. Our atomization process. So So those coarse powders are used in some of the advanced laser powder bed fusion, mostly today in non-regulated application. It's also used in electron beam powder bed fusion for medical. And also used in direct energy deposition for aerospace. So we see very good value creation out of it. And we are launching new powder specification. In order to be able to create much more value with those coarse powders. On another end, the fine powders are lower value. There's less opportunity with the fine powders. They're mostly used for metal injection molding for consumer goods, mostly in Asia. Also used a bit in defense and medical, but also, although in lower volume. So there our strategy is to work with our R&D resource that we have freed up when I was talking about Nanotec and MLCC. In order to be able to reduce the amount of fine that we produce. And we have several projects underway to be able basically to transfer this production into the prime powder. That sell for a much better ASP. So overall, we see very good traction in both, on both sides, either reducing the fine or getting better value from the coarse. So as, as I explained earlier, the demand for the prime is so high that we have to produce at a high rate. So when we produce at a high rate for the prime, of course we produce the residual, what we call residual. And the challenge is to make sure that demand for the residual grows as fast as the prime. But we're making very good progress there. Next slide. Now on the outlook, the observed material order intake and increasing order size coupled with market trend that we clearly observe support our long-term ambition. of double-digit growth toward 2030 and 15 to 20% EBITDA. I think we're showing sustained progress in that direction. Uh, reshoring and localized manufacturing bolstered manufacturing growth. Increased defense spending offered positive opportunity in, in both business areas, not only material but also system. And now our innovation effort, they're really, really focused on our core business and expanding our addressable market, improving our yield, etc., again in, in both business areas. Next slide. So to conclude, we're extremely happy and encouraged by our financial— solid financial performance with record EBITDA, solid contribution margin in line with our target in both business areas. Cash flow at a record high, solid balance sheet, uh, very healthy backlog that is providing good visibility, uh, for revenue, uh, getting into 2027. Our pipeline for sales of system is healthy, and the most promising opportunities are progressing well. And as Yves explained, we have the capacity and the fund uh, to, uh, to, to fund our growth with limited CapEx investment. So we're in extremely good position in a growing market. So that concludes our presentation. So now turning it to Arina for, for Q&A. Thank you, Claude. So indeed, now it's time to answer some questions from our, our investors and viewers. You can submit your questions directly to the chat feature in this, in this video player. So if you look at the top right corner, there is an icon that you can click and you can communicate directly with us to give you— to give us the questions. But let's start with the first question I've received, which is for you, Yves. Um, and it's about materials. So can you clarify why the contribution margin for materials was so much lower versus the 3rd quarter 2025? Yes, of course. Thank you, Arina. Essentially, if you remember, for Q3 2025, we have already mentioned that the contribution margin was very exceptional, over our target at 50%. So essentially, it's the mix of the sales and material sold, and this year we are at 50%. So really, for the, for the long term, it's our target to stay and to be at 50%. Okay, so that's really the number to keep in mind for our investors. We're aiming for that 50%. Um, then I have another one for you. Uh, this is about the adjustments that we keep doing to the EBITDA. So is this impairment really the last one or the last time that we're doing an adjustment? And that's why we have specified that we did a very good assessment and survey of our strategy and our entire assets we have. So of course, this is the, uh, the adjustment we can see today, that the, uh, the last one we can see. We don't plan to to that, to have other adjustments in the future. So indeed, going forward, we're going to be reporting more on EBITDA than EBITDA adjusted. Exactly, this is the, the plan. And then I guess the next question that is following from our 22% EBITDA adjusted, when can we start expecting net profit or dividends perhaps? Yeah, here it's, uh, that could be very exciting, but we still be, uh, with, uh, stay with our discipline of our cost in our group. We have a strategy plan in place. We execute that and we follow our plan. So for, for right now, we're focusing more on our strategy than to verse any dividend right now. Okay, thank you. Part of the question was also net profit, but I don't know if, uh, if you can comment on that. For the profit, it is the same answer at the end. So as you saw the last 5 quarters, we sustained a very nice growth of the EBITDA. So the next step, it's the EBIT. So on the last quarter, we start to be breakeven, and this quarter we are very close to breakeven with the adjusted. So we're on the good way to, to meet that. Yeah, it's very great to see how quickly we are progressing on this. Then I have one for you, Claude. It's on the MLCC. So regarding the impairment on materials for my microelectronics, is it really over for that project? Well, you know, I think that, you know, since we went forward with this impairment, it's because we think that You know. There's very little value left in, uh, in that, uh, but, uh, we still own the IP, and the powder that we make, frankly, I insisted on the fact that we have made very good technical progress. It's really about commercialization path. So we still have a very good technology, very high-quality powder that we think would be competitive in the most advanced MLCC. So of course, you know, we are always trying to find ways to monetize this IP. We own it. We're not going to give it away. So, uh, and we actually always have some discussion with potential customers, uh, you know, interested in buying uh, equipment, for example, rather than selling, selling the powder, you know, selling the, uh, the equipment to produce the powder. So, so the answer is no, it's not dead. Uh, we have, you know, we're looking, we're always looking at opportunities. We own the IP. We're not gonna let it go. Okay, so it's almost fingers crossed, uh, or wait for the market to be ready for us. Yeah. Um, okay, well, I have not received any further questions, um, also not on the website or on our inbox. So I think that's it, um, for now. Um, Thank you for joining us today. Um, recording of the webcast will be available on the website shortly after the conclusion. Perhaps any closing remarks, Claude, before we sign off? Yeah, so, so yeah, I just want to come back to the, you know, solid quarter that we had. Uh, you know, uh, it's not, uh, coming without effort. You know, of course, a lot of good news from our, uh, from our sales channel, very strong backlog, strong EBITDA, strong cash, and it's all due to our employees. You know, the Q3 was solid on execution, extremely solid in execution. That's the reason why we're able to post such convincing results. So thanks to our employees because there was a lot of effort behind that. I'm extremely proud of the, the team effort over the last quarter. Yes, thanks to everyone. All right, just one more comment. If there are any questions, please go to our IR website, which is ir.tekna.com. There's a Q&A section there where people can ask questions, and we will make sure to answer you, and the answers will be available to everyone then.