Thank you for joining us today. I'm Anja Soderstrom, a Senior Equity Analyst here at Sidoti. As I mentioned, next up we have Virtuix Holdings. It's trading under the ticker VTIX on Nasdaq, and we have Jan Goetgeluk. He's the CEO, and this will start with a presentation by Jan, followed by Q&A. If you would like to submit a question, you can do so in the Q&A function at the bottom of your screen. With that, I'm happy to hand it over to you, Jan. Thanks, Anja. Welcome, everyone. Thanks for tuning in here. My name is Jan Goetgeluk, Founder and CEO of Virtuix. We're trading on Nasdaq under VTIX, and we're a leader in AI-driven full-body simulation for various industries, gaming, enterprise, and defense. We do that primarily with our Omni technology. The Omni is an omnidirectional treadmill that lets users walk and run around in 360 degrees inside virtual worlds. Running, jumping, crouching, kneeling, all in 360 degrees inside the virtual environment. Let me walk you through the presentation. Any forward-looking statements I make, here's a disclaimer about that. Let me show you a quick video of our latest treadmill, Omni One, and the video you'll see is basically our product video for the consumer market. That will give you a good idea of our core technology. Let me pull this up. Drip, drip. That swagger. That get-ass but I'm low-key. I make it look easy. Oh, oh, oh. Oh, oh. Make it look easy. Oh, oh, oh. Oh, oh. Make it look easy. No hesitation. I'm on the yoga. My motivation. I got nothing to prove. Oh, oh, oh. Oh, oh. Make it look easy. Oh, oh. Oh, oh. All right. That's Omni One, our latest omnidirectional treadmill. Lets you move and run around inside virtual worlds, in this case, video games for the consumer. Let me give you a quick overview of our company. We're pioneering movement in AI-generated worlds, whether it's gaming or otherwise. Omni One is our latest treadmill. It's a next-generation device, and it's continuing to scale. We just this morning reported our earnings, 72% order growth, and even 150% order growth since we launched our Meta product, Omni One for Quest with Meta. We'll talk more about that in a second. Strong growth that we are aiming to accelerate even more. We have a production facility in place. We can ship today up to 3,000 units a month. That's $100 million in annual revenue. We focus on three key markets, consumer, with our Meta collaboration, defense for training and simulation. We are already working with all four major branches of the U.S. military, and enterprise, industrial training, safety training, robotics, healthcare as well. We will talk about that. We use AI to very quickly turn 360-degree camera footage into a walkable VR world within hours. I will show a video about that as well. Everything we do is protected by a strong IP portfolio. As I mentioned, consumer, enterprise, and defense, all with also recurring revenues from software licensing, services, and other revenues. We will start with consumer. The big catalyst there is we just launched Omni One for Quest with Meta, making our Omni One treadmill compatible with all Meta Quest headsets and part of the certified Meta ecosystem. Meta sold about 20 million or so Quest headsets. By recent estimates, they have about six million or so active users who now, for the first time, can buy our treadmill, Omni One, and use it directly with their existing headset and game. It expands our addressable market by millions of users. The effect has been immediate. Since we launched that product in June, our orders have grown 150%, 2.5x from what they were before. We see that trend continuing this quarter. It is driving a lot of growth on the consumer side. We are still only scratching the surface of what we can do with Meta. We are exploring bundling Omni One with Meta headsets and other marketing opportunities. We believe there is lots more growth that we can potentially achieve together with Meta. On the consumer side, fun fact, it is gaming, but it is also exercise. It is good for your health. You are running and you are moving, you are burning calories while moving our product. One user reported losing 40 pounds in four months using our product. It is kind of the Peloton for gamers, if you will. It is gaming, but it is active. Also for parents, get your kids off the couch. It is a major appeal of our product. We work with all the big game studios that are compatible now with Omni One. The economics on the consumer side, it is a direct-to-consumer business model with an upfront purchase price for the hardware and then recurring revenues from software. The upfront purchase, depending on the SKU, is around $2,500, more or less. It could also become a monthly payment with a firm, buy now, pay later, starting at $90 a month. It is not for everybody, but there is a big market for that price range. It is the price of a gaming PC, of connected exercise equipment. It is that kind of product, and by the way, it is good for your health, so it adds to the purchase justification. On that upfront purchase price, we target to make a 40% gross margin on the unit level. Then we make recurring revenues from software. We have our Omni Online subscription that allows people to play online games, similar to Xbox Live for Xbox or PS Plus for PlayStation. We also sell games on our game store for the complete Omni One system. That adds recurring revenues to the upfront purchase price. That is consumer. Then we also have an enterprise division where we sell Omni One Enterprise, which is a higher margin unit, higher ticket price. There you can think about industrial training, safety training, and robotics as well. We just announced we sold our first unit to Tesla for humanoid robots teleoperation. There's a lot of different use cases there. The key here is that for some of these, we use AI-driven 3D reconstruction, to very quickly create beautiful futuristic virtual worlds that are exact replicas of the real world, and we can do that within hours. Let me show you another video about this groundbreaking AI technology that we use. All right, pull this up. Thanks to new AI power techniques like Gaussian splatting, we can now quickly make high-fidelity digital twins of the real world using, for example, drone footage. It's 1:00 P.M. We're here at a training center in Austin, Texas. We're going to be capturing a scan with our 360-degree LIDAR scanner attached to this drone. All right, it's 1:30 now. We got the data that we need. Took about 20 minutes to capture. Now let's load it onto the computer. It's 3:00 P.M. We're back at the office. The environment is ready. From start to finish, this whole process took about two hours. Think about applications like virtual tourism, industrial training, or mission planning and rehearsal for defense and law enforcement. That's a revolutionary technology that really delivers on the full promise of virtual reality, where we can now create these beautiful worlds very quickly. That was always the biggest bottleneck. It takes months to create worlds, takes a lot of money. Now we can do that based on camera footage within hours. That's revolutionary, and we use that for a variety of applications. Here's just a picture of that humanoid robot teleoperation project I mentioned, and Tesla, for example, bought the first Omni One Enterprise system for us for this use case. That's the enterprise section, and defense is a major focus of our company. We're already working with all four major branches of the U.S. military today. We're selected as a lead integrator on an infantry training system for the U.S. Marine Corps. We also recently entered the anti-drone training market with another project for the Marine Corps. We signed a development agreement with the U.S. Navy. We sold units to the Army, to West Point, and on the Air Force side, we got a phase I SBIR award, for the Virtual Terrain Walk system. I'll show that in a second. We sold test units to the U.S. Air Force Academy, Yokota Air Force Base. Lots of early momentum in the defense space here for our technology. If you think about it, the military has always had simulators for aircraft. They've had simulators for vehicles, tanks. They've never before had simulators for ground troops or infantry until today, until our Omni technology, where now soldiers can walk around without boundaries inside virtual environments. Another important thing I want to mention here is we're actively looking at M&A opportunities in the defense space, particularly around training and services, looking for companies with revenues from $10 million- $50 million. It will increase our revenue substantially off the bat, but it also gives us access to contract vehicles, sales channels, past performance credentials as to accelerate our momentum in the defense space even more. Defense is a major focus of ours. Here's that infantry training project for the Marine Corps. It's for a fire team, so four soldiers, four Marines, will be on four treadmills working together inside virtual environments for training. We aim to deliver or bring the first system to the Marine Corps at Quantico, Virginia in the fourth calendar quarter of this year. Another system is a Virtual Terrain Walk. This is a system that got a phase I SBIR award by the U.S. Air Force. It allows soldiers to walk the terrain before they fight on it. This is using that AI technology I mentioned, and using that for mission planning and mission rehearsal. Let me show you one more video of this Virtual Terrain Walk system, which is really interesting. You've never been able to do anything like this before. Field to training within hours in real environments. Mission planning, mission rehearsal, training applications. It's immersive, that you can actually move in, testing the limits of your stamina. You're running, kneeling, jumping. You're collaborating with everybody else in your unit. They can really get in there, and they can really understand what the lay of the land looks like. Everybody walks away safe. It really did feel like I was there, and I was walking through that field. It was very cool, and a good little workout. Not very often do you see a revolution in military technology. The Virtuix Virtual Terrain Walk is that revolution. The VTW allows warfighters to walk the terrain before they have to fight on it. It starts with a drone capture. Once we've created that virtual environment, we can enter into the Omni treadmills, and they can be either local or distributed across the country, where we can all meet in a session to make sure that we can safely accomplish our mission. One of the key aspects of the Virtual Terrain Walk is it's commercial off-the-shelf. The Omni One is a very small, compact system. You can have it set up in minutes and have it deployed to the point of need. On the modern battlefield, I don't have the luxury of bringing folks together. The fact that I can do a distributed rehearsal but get that very tactile feel, I think it's revolutionary. With the VTW, warfighters are able to get a sense of terrain awareness that they will not be able to get any other way. I see this as a valuable training, leader development, and mission rehearsal tool. I think it's incredibly powerful to account for the time and space considerations and see how we would respond based on changes in the environment and iterate through the scenarios as I want to change variables. It can take the adjustments to the plan, feed those back as a digital output straight into my common operating picture, eliminate the potential for error, and create that feedback loop to my plan and my understanding. I can use the VTW to actually adjust operational plans that will be executed by our warfighters. The Virtual Terrain Walk is unique in the industry to provide this capability. This is something that the Department of Defense doesn't need to spend 15 years developing, and I'm pretty excited about this. Being able to get technology in the hands of warfighters now is something that is absolutely critical to maintain our technological advantage. The Omni is also a great way to keep our warfighters active and fit. Several of our customers burn 300, 400, and 500 calories an hour maintaining health and fitness in a fun and engaging way. Walking the terrain and getting that timing is an absolute critical aspect that today is only done when you're under fire. With the Virtual Terrain Walk, you can do that before the first round is fired. It's a game changer. There you go. That's our Virtual Terrain Walk system, which just got a Phase 1 SBIR award from the U.S. Air Force. A revolutionary capability. Let me pull up my slides again here. There's nothing like it before. This is the capability we're bringing to the U.S. military with our Omni technology, is truly groundbreaking, we believe. Think about the scale of the opportunity for us in the defense market as we go from this Phase 1 to Phase 2 or this initial project with the Marine Corps to a broader rollout. VTW, for example, the U.S. Army alone has 118 battalions who could all use a system like this. A system like this, if you expand it to a 10, 12-person system, a simulation system, would typically go for $1 million- $2 million or so, plus recurring revenues from licensing, servicing, and whatnot. That kind of pricing times the U.S. Army alone, 118 battalions. That gives us an idea of the scope here, the potential. Not just the U.S. Army, then we have the U.S. Navy, U.S. Air Force, U.S. Marine Corps, allied forces, and so forth. The defense market for us is a big opportunity for growth. We have a lot of momentum there, and we're going to keep pushing that forward and keep working towards bigger and bigger contracts. Quick word about the team. We are experienced at scaling hardware. We're ready to grow. Financials, we just reported earnings, so I haven't updated this yet. You'll see our last quarter's financials as well in our latest filing. The good news here is everything is going in the right directions. This is our year-over-year fiscal year financials. Revenues are growing, margins are improving, and operating losses are narrowing. Let's get through this a bit. I'll just sum it up here with a final slide. The opportunity for investors is that dual-use growth opportunity where we pair our high-volume consumer sales that are growing very quickly now with Meta, with potentially high-value defense contracts and enterprise as well, as the enterprise markets evolve. Healthcare is another one that we start to talk about more and more. That's the growth opportunity there, where our technology becomes a multi-use platform for a variety of industries, consumer and defense initially, and then potentially healthcare, robotics, and others to follow, as we continue to scale our revenues with high-value contracts. We're ready to scale, we're ready to take the company to the next level, and we invite investors to join our journey and come along. I'll pause right here and open it up for questions. Thank you so much, Jan. That was a good overview. For the audience, if you would like to submit a question, you can do so in the Q&A function at the bottom of your screen. I'll kick it off with a couple of questions while we have those populating. This Meta partnership, it's pretty early stages, but what's the potential there, and how big can that be? Yeah, there's a lot of potential. It immediately impacted our growth and our sales. As I mentioned, orders have been up 2.5 times what they were before since that launch in late June. It's a trend that we see continuing this quarter, and it becomes for the expansion of the addressable market. Millions of Quest users who can now buy our product. It's a nice offering. We're only getting started on that. We're now talking to Meta about marketing opportunities, bundling Meta and Virtuix products to complete systems. There's so much more we can do there. It expands our addressable market by an estimated six million Quest users, and I think it's going to be a major catalyst for growth on the consumer side going forward. Okay. Thank you. You're now working with all four branches with the USMC infantry training delivery expected in the Q4. Can you walk us through how a successful pilot translates into a program of record, and what the acquisition strategy adds on contract vehicle access? Yep, exactly. It starts with one system, rather, it gets piloted, it gets rolled out and tested. I f that goes well with the Marine Corps specifically, there are about 20 U.S. Marine Corps bases in the U.S. that could use a system like that. A successful program would be expanding our system to 20 bases nationwide. That would be a successful outcome. R evenue-wise, a system like this, four-person training system, maybe $500,000- $1 million over the life of a five-year contract. T hat gives you an idea of the scale, this one potential project here with U.S. Marine Corps. Are you also talking to other defense entities outside of the U.S., or? Initially, it's U.S. first. That's typically the way it goes. It's hard to sell systems internationally if the U.S. government or our own country isn't doing it yet. I t's U.S. first, but certainly we have a lot of interest from the allied forces that continue to come in. W e're focusing on our U.S. relationships first, but then the idea is to certainly also expand to allied forces. Okay. There's a question here about the gross margin. It swung from a negative 6%- 25% this year. As you ramp towards 3,000 units per month, what are the key levers that you get from 25% toward a 40% consumer target that you're targeting? How does the higher margin enterprise mix shift the blend? Yeah. We just reported this morning that the last quarter's margin was 30%. M oving in the right direction. It depends a bit of the mix. The unit economics on our systems are good. That's turning at close to 40% on the consumer side. Then if we start adding in more enterprise units, those are at, like, 70% or so target gross margin. Of course, defense contracts would be high value, high margin as well. I think as we scale, our goal is to keep pushing that margin up. Back to the Meta partnership, are there other kind of partnerships that could be interesting for you, and is that something you're pushing hard, or? Meta is the big one because it's driving a lot of revenue, but we're working with a lot of big names. Tesla, for example, I mentioned. Just in the last quarter alone, NASA bought a few units. We were selected for a mission that they're doing, a training mission project around training astronauts for deep space missions. W e're part of that. We also signed a partnership with Sirica Therapeutics. This is on the healthcare space, using our technology for therapy of autism for children, which is an interesting application. That could become something big. Sirica has announced plans to expand to 100 or so therapy centers nationwide. There are about 12,000 ABA centers nationwide that could use our technology for treatment therapies, for example, for autism, for children. T hat's our healthcare bracket. We're not fully focused on that just yet, but that could become another big vertical for our technology going forward. L ong story short, Meta is a big partnership. It's driving growth today, but we're working with a lot of big names, and that may result in additional revenue growth and meaningful sales in the future. Back to medical, I would assume there is a lot of opportunities there as well with other applications, or is that something you're pushing right now, or are you more focused on the consumer and defense, or? Yeah, it's developing. We want to stay focused and don't get distracted and get pulled in a 1,000 directions. C onsumer and defense is our core focus for our company. W e are pushing for developments in the healthcare space. We are working together, for example, with Rutgers University, the WINLAB there, who's using our technology for cognitive rehabilitation. For example, autism therapy for children. They're making an application specifically for that. Florida Gulf Coast University is also using our system for stroke rehabilitation, for example, in the healthcare space. It's another potential application of our technology. T hey are developing and getting clinical validation. I do think, especially the therapy of autism for children, I think, has a lot of merit. They already use VR for that therapy, to teach children with autism life skills, how to go to a grocery store, cross the street. Adding a movement component with our technology increases the engagements, increases the effectiveness of those therapies. W e believe in that. We think that could become a big market for us in the future. We're not fully focused on it just yet as a company, but it is something that we're monitoring and pushing in the background. Okay. Sounds interesting. Can you just talk a little bit about your capitalization and your cash burn, and are you going to need more capital or? Yeah. We reported just now, last quarter, we ended with $7.4 million in the bank. We also got another $1.2 million extra after the quarter in warrant exercises. W e have capital in the bank. Our burn rates, people can infer over the last 12 months or so, probably around $800,000- $1 million or so. People can calculate it from our filings a month. A bit elevated recently since we went public. We are hoping to tighten that. W e have some runway, but we will keep evaluating our cash flow needs and financing needs here in the future. Okay. Another question here from the audience. When thinking about longer-term investment in VTIX, are we underwriting a consumer VR company, hardware company, or a gaming platform, a defense technology, or an AI robotics company? I think it is a technology platform, with multi-use platform. Right now, focused on consumer, kind of high volume consumer paired with defense, high value defense. That is our key focus today. A dding additional growth there from other markets that are developing, like healthcare, we just discussed, and enterprise, which has industrial training, safety training, robotics with Tesla. Those are additional sales. I t is really a technology platform, with growth coming today from consumer and defense. We are having a lot of traction, but with much more applicability beyond that in the future. Are you building the hardware yourself or are you outsourcing that? No, that's ours. The hardware is ours. We make it ourselves, including the software around it. We're fully integrated, hardware, software, some of the content. That's all us. All protected by our patent portfolio, 25 issued patents, five more pending. Everything we do is well protected by our IP. Okay. As we spoke about before, the consensus numbers that's out there is showing some quite impressive growth, and it looks like you have a lot of opportunities. What sort of is that dependent on? What needs to come together for you to achieve those numbers? Yeah. I think a major catalyst for investors are, one, continuing our consumer growth with our Meta product and keeping that, accelerating that, I'd say, from here. Another big catalyst is the defense markets starting to go towards bigger and bigger contracts. I shared some of the potential numbers and scale already, but that would be a step change from where we are today. That's another big catalyst. Another big catalyst is the M&A. We're actively reviewing acquisition targets, $10 million-$15 million in revenues. Again, would take our revenues to the next level and accelerate our momentum in the defense space. I think those are some of the big catalysts for investors to achieve or even exceed those consensus estimates. What kind of acquisitions are you looking at then? It's in the defense space around training services. We would acquire revenues, of course, profitable revenues, which is great, but also access to contract vehicles with the U.S. government, access to sales channels to accelerate our penetration with our technology. Past performance credentials, which are critical if you want to get to a bigger contract. You can't get a $100 million contract if you haven't done a $50 million contract or a $10 million contract. You have to build that up, but you can acquire that past performance through acquisitions. We get a lot of benefits from an acquisition in the defense space beyond just increasing our revenues in a big drastic step. Okay. We're almost out of time, so I want to thank you for this presentation and thank the audience for participating. I know you have a pretty full one-on-one schedule, but I'm sure that if anyone would like to catch up with Jan, we can make that happen. You can either reach out to us or the company directly. I think there was the investor relations contact there as well on one of the slides. With that, I'll hand it over to you, Jan, for some closing remarks. Thank you. Thank you, Anja. Thanks, everybody, for joining. Look, we have an exciting road ahead of us with major catalysts that I think can drive long-term growth and value creation for our investors. We invite everybody to follow our story, sign up for our newsletter, and come aboard. Thank you. Thank you, everyone. Thank you.