A reminder: today's session is being recorded. It is now my pleasure to turn the floor over to External Investor Relations Representative, Mr. Clay Laiolis. Welcome, sir. Good afternoon, everyone. Thank you for participating in today's conference call to discuss Genasys Inc.'s fiscal Q1 2026 results ended December 31, 2025. Joining us on today's call are the company's Chief Executive Officer, Richard Danforth, and Chief Financial Officer, Cassandra Monteon. Before we begin, let me remind everyone of the company's Safe Harbor disclaimer. Certain portions of our comments today will concern future expectations, plans, and prospects of the company that constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements containing verbs such as aims, anticipates, estimates, expects, believes, intends, plans, predicts, will, may, continue, projects, or targets, and negatives of these words and similar words or expressions. Forward-looking statements are subject to certain risk and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could affect our actual results include, among others, those that are discussed under the heading Risk Factors in our most recent filed reports with the SEC, including our annual report on Form 10-K, our quarterly reports on Form 10-Q, and our current reports on Form 8-K. In addition, this call includes discussions of certain non-GAAP financial measures, including Adjusted EBITDA. The most directly comparable GAAP measures and reconciliations for non-GAAP measures are available in the earnings release and other documents posted at the company's website under Investor Relations. A replay of the webcast will be available approximately four hours after the presentation through the conference call link on the Events and Presentations page of the company's website. With that, I would now like to turn the call over to Genasys's CEO, Richard Danforth. Thank you, Clay, and welcome, everyone. In the Q1 of fiscal 2026, we built on the strong foundation laid in the back half of fiscal year 2025. We delivered a record quarterly revenue of $17.1 million and executed several key initiatives. The first of these was the appointment of Cassandra Monteon as our full-time Chief Financial Officer. Cassandra brings eight years of experience at Genasys, having most recently served as interim CFO. Before that, as Vice President of Finance, Cassandra strengthens our financial operations, advances strategic initiatives, and helped navigate the company through significant growth and transformation. Her comprehensive understanding of our business, consistent leadership, and dedication to excellence makes her an ideal fit for this position. We're confident she'll continue to provide strong financial stewardship while supporting our long-term vision. Congratulations, Cassandra. Another significant milestone was the full repayment of our $4 million term loan, which we completed while still maintaining a strong cash position of $10.3 million at the end of the quarter. This action aligns with the objectives we previously communicated and marks meaningful progress in improving our balance sheet and financial flexibility. Now for an update on our hardware business and the significant momentum we're experiencing. Our LRAD systems continue to gain substantial traction both domestically and internationally, with growing demand across multiple regions and applications. On the international front, we are seeing increased interest and expanded demand to build across the Middle Eastern and Asian markets throughout the year. The versatility of our LRADs has attracted attention across diverse use cases, from crowd management and public safety to border security and critical infrastructure protection. Recent real-world deployments have generated valuable third-party validation. News coverage of our products performing exactly as intended, such as in Minnesota, where LRADs were used to safely disperse crowds while simultaneously providing clear communication to inform people of the situation. This organic media exposure has been instrumental in accelerating awareness and driving qualified interest from potential customers worldwide. Our LRAD products are designed with a clear mission: to save lives and keep people safe through effective long-range communication. These systems provide authorities with the tool to de-escalate potentially dangerous situations, deliver critical emergency information across vast distances, and maintain public safety without resorting to physical force. Moving to software, interest in our solutions is expanding, supported by engagements across municipalities, states, and government entities. In Q2, we are in contracting with 5 cities/counties and 2 federal agencies. Sequentially, our software revenue increased 5%, and our pipeline continues to expand as more prospects recognize our software platform as the leading solution in terms of safety and technical superiority. While government budget cycles and funding timelines have created some near-term conversion challenges, we remain confident in the trajectory. As these constraints become resolved in the coming months, we expect this momentum to accelerate. We view software as a critical growth vertical and a cornerstone of Genasys' future. Now turning to some of our key projects. In the Q1 of fiscal 2026, we recognized $9.8 million in revenue from Puerto Rico. The project continues to display strong engagement across all stakeholders, with the first two dam groups completed. The third group, which is the largest, with 10 dams, 50 speaker arrays, and over 100 sensors, is currently under construction with all the equipment on site in Puerto Rico. Following the receipt of a multi-million dollar deposit, site surveys and engineering designs have begun for the fourth group of eight dams located in the mountainous west-central interior. The project remains on track for 2027 completion. Now turning to the CROWS initiative. As a reminder, in late September, we announced a $9 million production order representing the first contract for the tech refresh effort under the CROWS AHD program. This milestone followed the successful 2024 qualification of our LRAD 450XL model for integration with the Common Remotely Operated Weapon Station system. The broader program presents significant multi-year revenue potential for Genasys. With roughly 5,000 CROWS units in need of this technological refit and solutions priced around $35,000, the total addressable market for this program exceeds $175 million. As additional production orders are awarded, this program is positioned to become a substantial revenue stream for the company over the coming years. We continue to expect initial revenue contribution from CROWS-AHD program in the second half of this fiscal year. Before passing it to Cassandra, I want to briefly touch on our backlog and pipeline. Our 12-month backlog at the end of fiscal Q1 was $58 million. Regarding our pipeline, it has never been stronger. As more people become aware of our company and recognize the real value that our products deliver, we're seeing steady pipeline growth. We continue to actively pursue several large-scale projects and remain engaged in the bidding process for these contracts. We're optimistic about the quality and the breadth of opportunities ahead of us and believe we're well positioned to capitalize them as they develop. Now I'd like to pass the call over to Cassandra for an update on the Q1 financial performance. Cassandra? Richard, thank you for the kind words earlier, and I am looking forward to working alongside this team and contributing to the company's continued growth. Now for the Q1 results. In the Q1 of fiscal 2026, Genasys generated $17.1 million in revenue, up 146% year-over-year. Hardware revenues grew roughly 220% from the year-ago period. This included $9.6 million in contribution from the Puerto Rico project. Total software revenue remained flat at $2.3 million compared to the year-ago period. That said, sequentially, software revenues increased roughly 5%, and we continue to see strong long-term potential in our offerings. Gross profit margins improved 48%, or 220 basis points, from the year-ago period. This improvement is primarily due to product mix. Moving forward, we do expect annualized gross margins to be roughly 50%. Operating expenses for the quarter were $8.1 million, a 6% decrease from the Q1 of 2025. The decrease in operating expenses was primarily due to the cost reduction initiatives Genasys completed at the end of 2025. On a GAAP basis, operating loss was a negative $0.4 million compared to an operating loss of negative $5.9 million in the prior year. This improvement was primarily due to significant increase in revenue from a year-ago period. Adjusted EBITDA, which excludes non-cash stock compensation, was a positive $0.7 million compared to an adjusted EBITDA loss of a negative $4.8 million in the year-ago period. GAAP net loss in the Q1 was negative $0.8 million compared to a GAAP net loss of $4.1 million in the Q1 of 2025. Now to the balance sheet. As Richard mentioned earlier, we ended December 31, 2025, with $10.3 million in cash, cash equivalents, and marketable securities. During the quarter, we retired the $4 million term loan as planned, and our current cash position reflects the strength of our operating performance. Based on our cash forecast and anticipated cash flows, the company believes it has sufficient capital to serve its debt obligations. The Q1 of 2026 marked a strong start to the fiscal year. We delivered solid results that set a positive foundation for the remainder of the year. For fiscal 2026, we continue to expect both operating and net income profitability while expanding our margins towards an annualized rate of 50%. We're encouraged by our progress but remain focused on the work ahead. Our priorities center on enhancing operational efficiency and maintaining disciplined cost management as we scale revenues. We're committed to sustaining this momentum and executing our strategic plan to drive long-term profitable growth. Richard, back to you. Thank you, Cassandra. The Q1 was an encouraging start to fiscal 2026, highlighted by record revenue and marked by continued execution and milestones. Genasys operates at a critical intersection of public safety and emergency communication in a world where the need for these solutions continues to intensify. We've seen growing demand for our product and services across the globe as governments, organizations, and communities recognize the essential role that reliable communication plays during emergencies and critical events. Looking ahead in fiscal year 2026, we remain confident in our ability to deliver meaningful year-over-year revenue growth while expanding annualized gross margins to 50%. We also expect to achieve both operating income and GAAP net income profitability for the full year. This is an incredibly exciting time for Genasys. Our focus remains on driving brand awareness, expanding our market presence, executing on the significant opportunities in front of us, and ultimately delivering value for our shareholders as we build a stronger, more profitable company. Before moving to Q&A, I would like to take a second to thank all of our employees, partners, customers, and shareholders for your support and trust. With that, we'd like to open up the call for Q&A. Operator? Mr. Danforth, thank you. To our audience joining today, once again, that is star and one if you would like to ask a question at this time. Pressing star and one will place your line into a queue, and I will open your lines one at a time, and you'll be invited to share your questions. Once again, ladies and gentlemen, that is star and one if you would like to ask a question. We'll hear first from the line of Scott Searle at Roth Capital. Hey, good afternoon. Thanks for taking the questions. Nice to see the continued progress on PREPA, and it sounds like CROWS is getting ready to flow out the door as well. Richard, maybe just to start, could you talk about visibility in the immediate quarter? You referenced the government slowdown. How is that impacting payments and deployment schedules in the current quarter? So as we think about sequentially how revenues progress, particularly on the PREPA front, and if that's impacted CROWS at all, maybe that is just a starting point in terms of what you're seeing near term. Sure, Scott. So I mentioned in my remarks we have a $57- or $58-million backlog. So that certainly insulates us from the budget uncertainties that we've seen in the federal government. From a CROWS perspective, the defense budget for FY 2026 was finally passed. It's unlikely we'll see the FY 2026 CROWS award in our fiscal year 2026. There's just not enough time on the clock left. But I mean, that could happen, but I wouldn't count on that. But again, our backlog, Scott, certainly insulates us significantly. Gotcha. Richard, I think that there were a couple of larger deals out there that you had talked about in the past, a larger early warning system, I think, in Latin America. Wondering if there are any updates on that, as well as I think there were some larger naval opportunities that were starting to crop up in the European theater. Thanks. Now, there's several opportunities we're pursuing in Europe from a navy perspective. I think you know, Scott, we've sold units now to the German Navy, the Spanish Navy, the Canadian Navy. French Navy. The French Navy. There's three other programs that we're pursuing with European navies that I believe will come to fruition in the next couple of quarters. In my remarks, I did talk about the Middle East, and that has historically not been a great market for us. But we expect to close a couple of very good orders here in the relative short term that I think will be significant for the company. Richard, if I could, one last one. Just on the software front, I think there were some other contracts that had been delayed, some SaaS opportunities in municipalities and otherwise that had been delayed in the last couple of quarters. Are those starting now to catch up? And I think you referenced some other deals. I think you said that there were two larger federal contracts out there. I'm wondering if you could give us maybe frame the size and the opportunity and timing around some of that. Thanks. Scott, in my remarks, I mentioned that we're contracting for five counties and cities and two federal agencies. They have moved from where they were the last time we spoke, which was very uncertain, to we're working to close them as we speak. Great. Thanks so much. I'll get back in the queue. Okay. Thank you. Our next question will come from the line of Ed Woo from Ascendiant Capital. Please go ahead. Your line is open. Yeah. Congratulations on the quarter and also on your backlog or your pipeline. You mentioned that it's very robust and it's been very strong. Have you seen any changes in the sales cycle that's making it possibly added to your pipeline growing, or has the sales cycle changed at all since last year? At the sales cycle, as I mentioned in the last quarter, because of grants being frozen in the federal government, the sales cycle got longer. Now, that has begun to get somewhat better, which my remarks talked about what we have in the contracting phase now between counties, cities, and federal government. So I'd say it's been longer because of that freezing of funds, but it's starting to thaw. Great. My question is also on your gross margin goals of 50%. Is that kind of your goal for this year or a longer-term goal? Because obviously, it seems like your hardware would have lower margins, but your software would have higher margin. Do you think that they would balance each other out to kind of stay at that 50% longer term? We believe we'll be at 50% for this full fiscal year. Great. Well, thanks for answering my question, and I wish you guys good luck. Thank you, Ed. Ladies and gentlemen, we'll pause for another moment to allow our audience the opportunity to signal for a question with star and one. Also, a friendly reminder that if you're joining on a speakerphone, please return to your handset to be certain that your signal reaches our equipment. We'll take a follow-up from the line of Scott Searle at Roth Capital. Hey, Richard, two quick follow-ups. On the gross margin front, I know you're targeting 50% for the year, but there's some variability in terms of where we are in the deployment phase of the different dam groups. And so I think at the start of some of those contracts, it tends to be lower gross margin before ramping up. So how are you thinking about gross margins in the immediate March and June quarters? If we start to see group four deploy, or is that something that would take place more in fiscal 2027? And the second question, on the software commercial front, historically, you guys have had some opportunities, but they haven't necessarily been larger material. I'm wondering if that's changing in terms of the composition of the opportunity pipeline. Is there more going on on the commercial side of the equation, both from a software standpoint and a hardware standpoint? Thanks. Well, it's definitely still software, Scott, definitely still focused in SLED. I will say that deal sizes that we're focused on this year are significantly higher than what we've been focusing on what we had historically focused on. So almost all of the ones we're pursuing, Scott, are needle movers for our SaaS business. In terms of the hardware business, we've seen an uptick in inquiries and demand, largely driven by the events that are going on in the United States and elsewhere that federal agencies in particular are requiring additional LRADs. So we haven't booked anything yet with that regard, but we're working on it. And from the gross margin perspective, Scott, you're right. Mix has a lot to do with the gross margin number. I would counsel that 50% is where we expect to be for the year. And so this Q1 was down a little to that number, and next quarter will probably make up for that. Great. Thanks so much. You're welcome. We'll take our next question today from the line of Lloyd Quarton. Oh. I'm sorry. I believe we lost our caller. Mr. Danforth, I'll turn it back to you rather, sir, for any additional or closing remarks that you have. Well, thank you. Thank you all for attending the meeting. If you have further questions, just reach out to Clay or myself. Thank you all. Ladies and gentlemen, this does conclude today's teleconference, and we thank you all for your participation. You may now disconnect your lines.