Welcome to the Geospace Technologies third quarter 2026 earnings conference call. Hosting the call today from Geospace is Mr. Rich Kelley, President and Chief Executive Officer. He is joined by Mr. Robert Curda, the company's Chief Financial Officer. Today's call is being recorded and will be available on the Geospace Technologies investor relations website following the call. At this time, all participants have been placed in a listen-only mode, and the floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star one on your keypad. If at any point your question has been answered, you may remove yourself from the queue by pressing star two. We ask that you please pick up your handset to allow optimal sound quality. Lastly, if you should require operator assistance, press star zero. It is now my pleasure to turn the floor over to Rich Kelley. Sir, you may begin. Thank you, Madison. Good morning, and welcome to Geospace Technologies conference call for the third quarter of fiscal year 2026. I am Rich Kelley, the company's Chief Executive Officer and President. I am joined by Robert Curda, the company's Chief Financial Officer. In our prepared remarks, I will first provide an overview of the third quarter. Robert will then follow up with more in-depth commentary on our financial performance, as well as an overview of our financials. We will then open the line for questions. Today's commentary on markets, revenue, planned operations, and capital expenditures may be considered forward-looking as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on what we know now. Actual outcomes are affected by uncertainties beyond our control or prediction. Both known and unknown risks can lead to results that differ from what is said or implied today. Some of these risks and uncertainties are discussed in our SEC form 10-K and 10-Q filings. For convenience, we will link a recording of this call on the investor relations page of our geospace.com website, which I invite everyone to browse through and learn more about Geospace, our subsidiaries, and our products. Note that today's recorded information is time sensitive and may not be accurate at the time one listens to the replay. Yesterday, after the market closed, we released our financial results for the period ended June 30th, our third quarter of fiscal year 2026. For the three months ended June 30th, 2026, we reported revenue of $15.8 million with a net loss of $9.7 million. Challenging market conditions across our business segments continue to impact our short-term financial performance. Revenue was impacted by geopolitical uncertainty, project timing, sales volumes, and customer access to capital. Margins were pressured by product mix, inflation, raw material costs, and component availability. We were able to offset some of this impact with previously stated cost reduction efforts and improvements in manufacturing productivity. Our financial performance this quarter does not reflect the strength of our long-term opportunities across our diversified markets. We remain focused on the factors within our control and on strengthening the foundation of our future performance. With a diversified portfolio of technology-driven solutions and a strong competitive position across our end markets, we believe the company is well-positioned as market conditions improve. Our Smart Water segment continued its dip in revenue, which is driven in large part by reduced orders of the Hydroconn connector. In June, we announced the release of the Series V connector, providing our customers increased flexibility to address continuing supply chain challenges. With this new product release, we offer the most universally compatible portfolio of Smart Water meter connectors and adapters available domestically. We believe this enhanced product offering strengthens our competitive position and better aligns us with customers' evolving infrastructure needs. Our Intelligent Industrial segment remains a consistent revenue contributor with expected future revenue growth from our security portfolio. At the end of the third quarter, our subsidiary, Quantum Technology Sciences, received a $10.8 million contract from the U.S. Navy to deliver the Seismic Acoustic Detection and Ranging system. This contract is expected to be completed by December 2027. Our Energy Solutions segment generated less revenue than a year ago due to continued reduced demand for seismic acquisition equipment. Third quarter revenue contribution from the PRM contract or Permanent Reservoir Monitoring contract was lower than was expected due to customer-requested changes to the project scope. Importantly, our customer agreed to extend the PRM contract period of performance to account for these modifications. We have now successfully entered full production of the goods contract. We will continue executing our strategic priorities by investing in innovation, supporting our customers, and maintaining financial discipline. Our focus remains on converting the opportunities within our pipeline into revenue, improving operating performance, and positioning the company for long-term profitable growth. I will now turn the call over to Robert to provide more detail on our financial performance. Thanks, Rich, and good morning. Before I begin, I'd like to remind everyone that we will not provide any specific revenue or earnings guidance during our call this morning. In yesterday's press release for our third quarter ending June 30th, 2026, we reported revenue of $15.8 million compared to last year's revenue of $24.8 million. The net loss for the quarter was $9.7 million or $0.75 per diluted share compared to last year's net income of $800,000 or $0.06 per diluted share. For the nine months ending June 30th, 2026, we reported revenue of $61.1 million compared to revenue of $80.1 million last year. Our net loss for the nine-month period was $30.5 million or $2.37 per diluted share compared to last year's net loss of $700,000 or $0.05 per diluted share. Our Smart Water segment generated revenue of $46 million for the three-month period ending June 30th, 2026. Revenue for the three-month period ending June 30th, 2025 was $10.5 million, a decrease of 56%. Revenue for the nine-month period was $14.1 million, compared to $27.3 million from the same prior year period. The decline in revenue for the three-month and nine-month period is due to lower demand for our Hydroconn connector product line. Energy Solutions third quarter revenue totaled $5.9 million for the three months ended June 30, 2026. This compares to $8.1 million in revenue for the same period a year ago, representing a decrease of 28%. Revenue for the nine-month period is $30.1 million, an increase of 14% over the equivalent prior year period of $35 million. The decrease in revenue for the three months was due in part to the sale of assets associated with our Streamer Recovery Device product line in the prior year. The decrease in revenue for the nine-month period is attributed to lower demand for our ocean bottom nodal products, partially offset by revenue recognized on our PRM contract and increased land wireless product sales. Intelligent Industrial revenue totaled $5.2 million for the three-month period ended June 30th, 2026. This compares with $6.1 million from the same year ago period, representing a decrease of 14%. Revenue for the nine-month period ended June 30th, 2026 was $16.6 million, compared to revenue of $17.6 million for the comparable year ago period. The decrease in revenue for both periods was driven by lower demand for our industrial sensors. The decrease in the three-month period was also due to decreased demand for our company's contract manufacturing services. Our operating expenses decreased by $1.2 million for the third quarter of 2026 and decreased $400,000 for the nine-month period. This decrease in operating expense for the three-month period was due to lower personnel costs, agent commissions, and legal and professional fees. The decrease in operating expenses for the nine-month period is due to lower research and development costs and agent commissions. Our nine-month cash investment in our plant equipment is $3.3 million, and at the end of the third quarter, we maintained available borrowings of $25 million for our credit agreement with Woodforest National Bank. Our working capital is $41 million, which includes $17 million of trade accounts and financing receivables. This concludes my discussion, I'll turn the call back to Rich. Thank you, Robert. This concludes our prepared commentary. I will now turn the call back to Madison for any questions from our listeners. Thank you. If you'd like to ask a question, press star one on your keypad. To leave the queue at any time, press star two. Once again, that is star one to ask a question. We'll pause for just a moment to allow everyone a chance to join the queue. We will take our first question from Bill Dezellem with Tieton Capital. Please go ahead. Thank you. I'd like to start with the PRM contract. Of course, you noted in the press release there's been some changes there. Instead of me asking a whole bunch of questions, why don't I just ask you to provide a lot more detail around those scope changes and ultimately the implications, please? Sure, Bill. Good morning. Thanks for the question. There's no financial impact to the contract. The total value remains the same. Regarding the structure of the equipment, our customer decided to change some of the layout. We went through some engineering changes. That led to a delay. Obviously, our customer was willing to accept that. They gave us a contract extension. Structurally, the contract is the same, it's just an extension on the period of performance. That structural change that engineering change that they wanted to do, does that have any implications for you from a competitive perspective? I'm thinking with respect to future contracts. Quite honestly, Bill, no. It was really around, not to get too complex in this, the way that they envisioned their infrastructure being in place when we did the original field design changed from that point until after the contract was established. We needed to reroute some of the sensors and some of the cables, change some of the spacing and stuff like that. In the big picture, there was no technical change to the equipment that we're providing. Great. Thank you. Essentially, if we think about this from an external perspective or the investment community's perspective, the implication is simply a one-quarter delay. Everything else is the same. That's correct. Yes. Got it. Given that this contract was awarded some time ago, I know we haven't started meaningfully producing on this yet, what's the prognosis for the next PRM contract, and whether that would be with Petrobras or with someone else? That's a good question. Petrobras, as we've stated in the past, they still have a long-term strategy for using PRM systems on their fields. Obviously, they're monitoring the greater geopolitical situation, the volatility in oil prices, and their internal decision is driven by a lot of those factors. They have not put forward when they anticipate releasing the next proposed PRM system. That addresses Petrobras. We do anticipate participating in any proposal they put out, we plan to participate. Regarding other fields, obviously, we have ongoing discussions with the majors who consider PRM a viable solution. If they happen to put out a proposal or request for a proposal, obviously we intend to respond to that. As it stands right now, there is nothing firm on the calendar. Great. Thank you. Then you announced the Navy. How about if I, again, just open this up and let you discuss the Navy, and then I'll ask additional questions from there? Yeah, sure. Being the U.S. Navy, there's only so much that we can share. Essentially, the project marries our state art technology from Quantum Technologies with our PRM technology from Geospace to provide an in-water solution for the U.S. Navy for detection of potential threats. This is under an SBIR envelope, and we're working closely with them to make sure the project is fully vetted out and, as I said in the announcement, plan to deliver our solution by the end of next calendar year. The release made reference to this being an initial contract. Is there an implication there that prior to this contract being fulfilled, that there could be additional contracts? How are you thinking about that? No, I wouldn't say before it's completed. I said, this is an SBIR. I would say it's not really a proof of concept because these are viable solutions that we're offering. It's more of a prove that we can meet the Navy's expectations with regards to technical performance, then the Navy will use that to determine how they want to move forward in a larger scale. Great. That's helpful. Then as you think about revenue recognition, is this essentially going to be recognized over time? We used to call it percentage of completion. I'm not sure what the right term is now. Yeah, exactly. This is progress payment type structure, right? If we hit certain milestones, we were able to recognize revenue. We'll have revenue recognition in fiscal year 2027, Given that, we'll finish it in fiscal year 2028. Similar to the PRM contract, it'll bridge a couple of fiscal years for us. Let me slightly modify what Rich said. We will recognize revenue independent of the milestones we're paid, and we'll recognize revenue over time that's similar to percentage completion. Thank you, Robert. Yeah. Okay, that's helpful. Actually, on that note, I do want to circle back to the PRM contract. You said it's in production now here in this quarter. When is the final quarter of revenue recognition that you now anticipate with these changes? Right now we're anticipating somewhere between our fiscal Q3 and fiscal Q4 of next year. Of fiscal 2027? Correct. Okay, great. Thank you. Then I would like to jump to Heartbeat Detector if we could. Would you please provide us an update there? Sure. Heartbeat Detector is obviously, the market that that applies to is excited. We've done several pilots. We've got a pipeline of customers lined up. It's proceeding as planned. I think we're actually a little bit ahead of our plan regarding Heartbeat Detector. As we've said in the past, the revenue growth on this, it'll be ramped up. We recognize that the lead up to a completion of sales is because we're dealing with government agencies and things like that. It just takes some time. Still expect that to meet our expectations over the coming periods. Great. Thank you. Then, given the stock price reaction this morning, I suspect there is some concern about the cash burn rate. Would you please address how you are thinking about that to provide comfort at how you're thinking about cash going forward? Yeah. Robert, do you want to jump in there? Yeah. We're managing cash very closely, Bill. We're getting a group together to analyze expenses and eliminating things as we can, and just trying to stay on top of incomings and outgoings cash as closely as possible. I think we're going to be in a good shape with the help of our bank, our credit facility, to make it through to when we expect to get our next milestone payment from Petrobras. Great. Thank you. Thank you. There are no further questions in queue at this time. I will now turn the meeting back to Rich Kelley. Thank you, Madison. Thanks to all of you who joined our call today. We look forward to speaking with you again on our conference call for the fourth quarter of fiscal year 2026. Goodbye and have a good day. This concludes today's meeting. We appreciate your time and participation. You may now disconnect. Thank you.