This meeting is being recorded. Good afternoon and welcome to Syntec Optics Holdings' Third Quarter 2025 Earnings Conference Call. Today's call is being recorded. At this time, all participants are in a listen-only mode. Before we begin, please note that today's discussion will include forward-looking statements within the meaning of the federal securities laws. These statements are based on current expectations and involve risks and uncertainties that may cause actual results to differ materially. For a discussion of these risks, please refer to our filings with the Securities and Exchange Commission, including our Form 10-K and Form 10-Q filings. Syntec Optics undertakes no obligation to update any forward-looking statements. Joining us today are Dean Rudy, Chief Financial Officer, and Al Kapoor, Chief Executive Officer of Syntec Optics. I will now turn the call over to Dean Rudy. Dean, please go ahead. Thank you, Operator, and good afternoon, everyone. We appreciate you joining us today to discuss Syntec Optics' third quarter results. The third quarter of 2025 represented another period of disciplined execution, sequential revenue growth, and continued operational progress as we position the company for sustained future expansion. For the third quarter, net sales were $7.0 million, an increase of 6% over the second quarter. The sequential growth was supported by strong volume improvements across several key product lines, particularly LEO Satellite Optics, Night Vision Optics, and other defense-related programs. Our ongoing yield, throughput, and efficiency initiatives are contributing directly to this momentum. Gross profit for the quarter was $0.9 million, down from $1.6 million in the second quarter of 2025. The decline reflects the impacts of our deliberate investments in direct labor and manufacturing overhead to enhance delivery performance and quality for our customers. These investments temporarily reduced gross margin. However, they are already strengthening our operational capability and are expected to support margin improvements in the coming quarters. Adjusted EBITDA performance maintained solid on a year-to-date basis, totaling $2.1 million through the third quarter, compared to $2.2 million in the same period last year. This stability reflects disciplined cost management, improved working capital performance, and continued progress on our operational initiatives. While third quarter Adjusted EBITDA was modest due to temporary increases in direct labor and audit-related expenses, these investments are reinforcing our manufacturing capability and strengthening our financial foundation for the remainder of the year and into 2026. Our net loss for the quarter was $1.4 million, or $0.04 per share, compared to a loss of $0.01 per share in Q2. Importantly, our liquidity position benefited from improved operational performance. Cash at quarter end was $0.6 million, with an additional $0.7 million available under our credit facility, bringing total accessible liquidity to $1.3 million. Operating activities generated $0.7 million year-to-date, reflecting strong working capital management and improved collections. We continue to invest prudently in our manufacturing capacity and capabilities, with $0.6 million in year-to-date investing activities, primarily tied to targeted capital improvements. As disclosed, at quarter end, we were not in compliance with certain covenants under our credit facility. Following the quarter close, M&T Bank provided a formal waiver of these covenant defaults. In order to stay compliant, the waiver was subject to customary conditions, including the repayment of approximately $1.3 million in term and equipment loans and a shareholder loan on similar bank terms, execution of shareholder loan subordination agreement, and a reduction of total revolving line availability from $8.0 million to $7.5 million at a current interest rate of nearly 6.9%. To support this refinancing and maintain ample liquidity, Syntec secured nearly $1.3 million of related party financing from our majority shareholder and CEO. Following these actions, we maintain full access to our revolving credit facility, and we expect to remain compliant with all amended covenants through year-end. Looking ahead to the fourth quarter, we expect continued demand strength across space communications, defense optics, and biomedical automation. These markets are benefiting from powerful long-term tailwinds, including the shift to laser-based satellite communications, defense modernization, and onshoring initiatives. As a result, we expect Q4 2025 revenue in the range of $7.3 million-$8.0 million, representing continued sequential growth. We also expect improvements in margin performance as our yield and throughput programs continue to take hold and as our cost-down initiatives begin contributing meaningfully in Q4 and beyond. Overall, we remain confident in Syntec's long-term strategic position, reinforced by a strong and diverse customer base, an expanding product portfolio, and a manufacturing platform built for scale. With that, I'll turn the call over to our CEO, Al Kapoor. Thank you, Dean, and good afternoon, everyone. The third quarter demonstrated the strength of our operational execution, our commitment to innovation, and our ability to partner with world-class OEMs across, what Dean said, defense, communication, biomedical, and consumer, which are large end markets. Let me talk about the operational execution first. This quarter, we continue to deliver on our core priorities: yield and throughput improvements across our major product lines, including LEO Satellite Optics, Night Vision Optics, and Integrated Scope Optics. These improvements are coming from efforts of disciplined execution, cross-functional collaboration, and the addition of skilled team members across our second and third shifts. We recognize areas of more improvements and expect them to be in place by Q4. In addition, during Q3, we introduced our use of Automated Flash Reporting across key industrial engineering workflows. These initiatives give our operators and operation leads real-time visibility into daily performance metrics that matter most to meet customer requirements. By surfacing this data on the floor quickly, we are empowering our teams to identify deviations early, take immediate corrective action, and maintain stable, repeatable daily operations. This enhanced transparency is already improving flow discipline, reducing variance in critical processes, and supporting a culture of continuous improvement across the plant. As adoption scales, we expect these tools to become a foundational element in our operational excellence system and driver of sustainable margin enhancement. Our manufacturing platform is designed for scalability, and we're now seeing that strategy pay off with higher volumes and improved delivery performance. Syntec continues to play a critical enabling role in multiple breakthrough applications. This quarter, several programs advanced from the concept phase into first article and initial production stages, a key milestone for our long-term revenue generation. We also announced strategic developments that underscore our market leadership: over 17,000 LEO Satellite Optics produced to support the rapidly expanding constellation market, advancements in hyperspectral imaging optics, enabling next-generation defense sensing platforms, the launch of first-of-its-kind New York State-certified apprenticeship program supporting nanomachining and precision optics training. This investment strengthens our long-term workforce and supports our growth in critical areas such as AI Data Center Optics, Military Aiming Systems, Biomedical Diagnostics, and Rocket Propulsion Programs. Expansion of military customer engagements. We have already announced a new position of Assistant Director of Strategic Military Sales and assigned Luis Salinas to that position. His deep operational and combat experience enhances our alignment with military end-user requirements. These achievements highlight our position at the intersection of optical precision, advanced manufacturing, and mission-critical applications. Let me comment on long-term strategic position and partnerships. The markets we serve continue to grow rapidly. We've announced the global space economy is forecasted to reach $1 trillion by 2040. We participate in it. The hyperspectral imaging market is projected to reach $28 billion by 2030, and we have started to participate in that. Nearly 30% of the world's population still lacks broadband access, presenting extraordinary demands for satellite-enabled communications. We are expanding in ground networks and also in locating other satellites. As more systems become light-enabled in general, Syntec's horizontal and vertical manufacturing integration provides a durable advantage to us and an economic moat that positions us to scale efficiently in these emerging high-growth markets. Let me provide some closing thoughts. In the third quarter, we have shown sequential revenue growth, strengthening demand across our focus markets, operational improvements that support scalability, strategic workforce and customer investments, progress on multiple breakthrough programs. Together, these developments position Syntec Optics for continued growth in the fourth quarter and into 2026. Thank you to all of you Syntec members and Syntec members' exceptional work to our shareholders and customers for their trust and partnership. With that, let me turn it back to the Operator. Thank you, Al. This concludes Today's Syntec Optics Third Quarter 2025 Earnings Conference Call. A replay of the call will be available on the company's website. Please send us your questions at investorrelations@syntecoptics.com. That's investorrelations, no space, at syntecoptics.com. Thank you for joining us, and have a great day. The recording has stopped.