Real brief up here. Delighted to have V2X take us through their story. It's Mike Smith, Vice President and Treasurer, Corp Dev, IR, and wears many hats at the company. He knows the story extremely well. So we're excited to have him take us through this story. Mike, I'll turn it over to you to take us through. Thank you. Thanks, Brian. Hey, good morning, everybody. Thanks for having us here, Brian. Always appreciate it. A little bit about who we are, what we do, and how we create value. V2X, we're a leading national security solution provider delivering multi-domain warfighter readiness, global mission support, and platform modernization. We'll talk about what all that means in just a minute, because a lot of aerospace defense government services companies kind of get lumped together. It's hard to distinguish who does what. We'll walk you through exactly what we do here at V2X. We're a leader in critical mission solutions. You can see here about $4.3 billion of revenue. The midpoint this year is around $4.5 billion or so for 2025. We do about $300 million or so in adjusted EBITDA. We have 16,000 employees across 322 locations, about 47 countries or so, which is a major differentiator for us to be able to go and deploy shoulder to shoulder with our customers. That's a discriminator for us. It gets us close to our customers. We understand what they need, what their requirements are, and be able to deliver on those requirements with precision and success. Our backlog is about $12 billion. We're a Prime Contractor, so 94% of our revenue comes from what is known as Prime Contracts. That's important because that means we are in charge of our destiny. We're not a subcontractor. We are the one that are sitting with our customers and executing on their requirements. On the upper right there, you can see the revenue diversification. About 40% of our revenue is coming from the Army, about 33% coming from the Navy, 11% coming from the Air Force. FedCiv is relatively small at about 5%. That consists of NASA, DEA, FBI, things like that. Other is a little bit of commercial and our national security or intelligence programs. By geography, you can see that we're about 55% of revenue based in the U.S., 32% in the Middle East, 8% in INDOPACOM, which is a pretty rapidly growing region for us, and about 5% in Europe. If I would have shown you this pie chart, and Brian knows this, several years ago, before 2022, this would have been heavily concentrated in the Middle East. We have done a phenomenal job at diversifying this business, adding capabilities to this business. And actually, I think back then we would have had three contracts that were greater than 10% of revenue as of the third quarter of 2025. There's no contracts that are greater than 10% of revenue. No task orders greater than 10% of revenue. And then by contract type to the upper right as well, about 60% of our revenue stream is cost plus, about 40% fixed price. Cost plus is great in that there's not a lot of risk in terms of us executing on what we're doing. There's another side of that coin, which is it's also a little bit harder to get the margin out of that type of business. Typically, you have to engage with your clients to take certain what we call CLIN contract line items, convert them from cost plus to fixed price. That's where you get some margin accretion from. Also, as DoD or DoD now is moving to more, call it, outcome-based contracting, trying to get more fixed price. If they are pushing in that direction, we believe that would be extremely good for us because we've been supporting some of these missions for well over a decade, so we know how to operate, and we're still doing it under cost plus, so if there's a movement to fixed price, we think we can continue to execute with margin improvement. Our key customers are sort of listed there below. It's not just the Army, the Navy, the Air Force. There's also some household defense contractors on there as well. Now I'm going to talk a little bit about what we do, and this is how we kind of distinguish ourselves from other folks. And I like to follow the, call it, follow the life cycle of our warfighters, if you will. We affectionately call this chart "The Wheel". And what we do is enabling missions from start to finish. So you enlist. You enlist in the Army. You go to get training. We are there helping train you as an enlisted soldier, as an enlisted warfighter. We're doing it not just in the U.S. We do it overseas. We have the largest training contract supporting the Army. And if you think about where the Department of War is focused right now, it's on recruiting. It's restoring warrior ethos. It's all kind of coming back to training. And when you're not fighting, you're training. So we've actually got a large contract, WTRS. That's the largest training contract for the Army, as I mentioned. We've also won several others on top of that. We have a trifecta of Army training contracts. And recently just conducted a training mission in Germany, where they simulated chemical attacks. That's the type of work that we do. Okay, so you've now trained. Now you're going to deploy. We help get you everything you need, all your gear, all your equipment, all the logistics that are required to go forward. The last person you see when the back of the aircraft goes up and you deploy it is a V2X employee. The first person you see when that aircraft lands in theater is a V2X employee. We help get you there. And once you're there, we're there providing mission solutions and assured communications. What does that mean? Okay, we operate the largest cyber center for the Army outside of the United States. We keep comms up and running 365 days a year in Europe, in the Middle East, for example. We're doing various full life cycle kind of network management. We also have a product called our GMR 1000, and I'll talk about it in just a minute, that enables our warfighters to be able to seamlessly connect as they move from one vehicle to another without interference from Faraday cages and things like that, so we are basically giving our warfighters, while they're in theater, real-time kind of communications capabilities, but also while they're in theater, we're supporting them with everything they need from infrastructure engineering, life support, emergency services, integrated electronic security systems. We are at these forward deployed locations supporting our warfighters when they go and do these missions, so after the mission is done and you return back, what do we do next? We take all the gear that you've busted up on, that you've flown around, that you've shot missiles at, whatever it is, and we bring that back to zero hours and zero miles. So we renew all that equipment. And as you know, there's a big emphasis on readiness right now and modernization. So we provide some of the highest aircraft readiness rates in our industry for the Department of War. And that is showcased in an example here I'll show you here pretty soon. But I'll give you a little sneak preview, not even for the Department of War, but I was here last year. When we were here last year, we were awarded a contract with the DEA, $200 million contract to keep their aircraft ready 24/7, 365. That relationship with the DEA, which goes back to, I want to say, 1997 or so. The FBI saw that capability, that readiness capability we gave to the DEA and said, "We got to have that. We need this." And they sought us out to provide that capability to them. And that resulted in a $100 million contract we got, I want to say, around February or March of this year. So a little bit of an example there. So we renew aircraft. We keep them ready. And not just on aircraft, also on ground platforms as well. And then on the modernization, what do we do there? Well, we take all the aircraft, all these platforms, and we keep them ready and keep them modernized for tomorrow's fight. I'm not talking about. We're not building radars. We're not building F-35s. We're taking things that are old metal, things that exist today, and we're giving it new life by incorporating new technologies and new capabilities. And I got a good example of that here on the next slide. So that kind of wraps up the wheel. Then you go as a soldier, you go back, you train, and you start it all over again. So we're taking this strategy, if you will, and incorporating it to win in key markets. And we've done that, I think, quite successfully here in 2025. So the first task order here, our award on the upper left, is a T-6. The T-6 is a $4.3 billion contract that was awarded to us a few months ago to support 700 training aircraft for the Air Force. It's under protest currently, but this is new to us, too. This work is new to us. $4.3 billion supports 700 aircraft, keeping them ready. The reason that we were picked is because the Air Force wanted the readiness rates that we can deliver. We deliver extremely high readiness rates on another program for the T-45, the T-45 trainer. We've been doing that since 2003 when Boeing, the original OEM, actually stopped supporting that aircraft. So the Air Force wanted what the Navy had on their T-45s, and we're going to deliver that for them on the T-6. It is under protest, as I mentioned. The transition is ongoing at this point in time. We'll have to see what happens here with the outcome of the protests, hopefully in the next couple of months. F-16s, what do we do for the F-16 program? We recently announced an award to support Iraq F-16s, and actually, really interestingly, two components. Not only are we supporting the flight lines and all the infrastructure in Iraq at Balad, we're also actually fixing, repairing, maintaining the F-16s themselves. Those were two separate contracts at one point in time. And the capabilities that we had allowed us to pursue and bid both of them, not just the capabilities, but also our geographic positioning and presence in that region allowed us to win that contract. That is a $1 billion award to us that we announced a couple of months ago. F-16 cockpit modernization. This is a really interesting story where we took an F-16. The problem was the National Guard wanted a new cockpit. They didn't want to buy it brand new from the OEM or the Prime. It was going to cost them a boatload of money, a boatload of time. We created this solution for them and allowed them to spiral in a technology without cutting into the airframe, without jeopardizing the readiness of the aircraft or bringing downtime at a fraction of the cost, so this started with the National Guard and recently got adopted by the full Air Force that just awarded us a $425 million IDIQ to do this cockpit modernization in the rest of the fleet, so providing essentially a digital backbone to that aircraft here in the U.S. Now think about how many F-16s exist outside of the U.S. I just talked about some, so those are the types of things that we will likely look to pursue in the future. One of the other things I want to mention on this slide here is rapid prototyping. Not a lot of people know about this, know us for this. I think the Raymond James team here actually did get a chance to come to Indy and see our facility there. We got 1 million sq ft of rapid prototyping, engineering. When you think about defense industrial base, that's what Indy is. And what we're doing today is we were awarded a couple hundred million dollars' worth of work to support this program or various programs here for rapid prototyping, integration, fielding, follow-on support. The actual picture right there is the Tempest. That is what we actually went from a white sheet of paper into fielding in a matter of months. This came out of our Indy facility. It took a Hellfire missile, which is supposed to be from air to ground. We flipped it. It now can go ground to air. It's a Counter-UAS system. That customer had a problem. They came to us. They appreciate how quickly we can respond and the novel solutions that we can provide. And we delivered this. And this has the ability to continue to grow. It's just an example of some of the different sort of things that we do here. And the last one is going to be the GMR. I talked about that a little bit. That enables real-time situational awareness for our warfighters if they're going from a helicopter to a Stryker. You need to be able to communicate and be able to have your comms with you as you're transitioning from one to the next without cutting in and out. This allows you to do that. Think about a secure router, if you will. Like when you pull up to your house, your phone jumps on your router. It allows you to do that without dropping any comms along the way. That's also done out of our Indy facility as well, so very interesting set of solutions coming out of Indy, actually one of our faster growing parts of our business here in 2026. That essentially kind of wraps up who we are. We're very excited about our path. We're very excited about some of the awards that we've had. We've got a very large pipeline in excess of $50 billion over the next three years. We got notable pursuits that we're going after that are bringing the whole of the company to bear, and I think some of these examples on the past pages demonstrate some of that, so yeah, we're excited for what we've done and where we're going in the future. Great. Mike, thanks so much. We have time for a couple of questions if anyone has any. Yeah, go ahead, Tom. I had a couple of questions. I don't know if you'd break it out this way, but the percentage of your mix that is on next-gen technologies versus legacy sort of systems, and then also your exposure, you might have mentioned it to Europe and Japan, given they're starting now to spend more money on defense. Sure. We don't break out the revenue from next-gen technologies, but I think some of the ones that we mentioned, you can see that it's the F-16 cockpit display upgrades as we're spiraling more and more technology into the cockpit. Actually, we left room in the cockpit to introduce AI, if you think about that. So there's room for us to continue to upgrade. That's why that IDIQ exists. It's the GMR. It's the Tempest family of systems that we showed you the picture of. We haven't given a full revenue size of that, but it is a rapidly growing part of our business. In terms of the geographic regions you mentioned, INDOPACOM, Europe, so for INDOPACOM, we've been growing quite nicely there. We are in Quad. We're in the Philippines. The demand signals continue to be strong for all sorts of things, for training, for equipment, for think about logistics, tyranny of distance, communications, secure communications. So these are smart warehousing even. So the demand signals continue to be strong there. We're continuing to support activities there. And we think that's going to be a continued grower for us over the next several years. Europe, we do $200 million in revenue per year there. Hasn't been growing that much for us. We really weren't involved too much with what's been going on over the past few years with Ukraine. But we are getting, Brian and I were talking about this in the hallway, we're getting more and more interest from our European allies for the types of things that we provide. And I kind of walked through some of those. So we weren't really banking on big growth coming from that, but it looks like there is some interest in what we're doing and how we can help them get to a future state. Mike, maybe a couple from me. If I think about some of these legacy platforms like the F-16, you're winning a lot of work there, and these are platforms that were originally fielded in the 1970s. What other aging platforms are there beyond F-16 where you might be well positioned to accumulate some work that are seeing major overhauls? Yeah, that's great. You've got certain B-52s. You've got certain aircraft, and our strategies are to kind of look at a campaign on an aircraft, if you will. Look at the F-16. Look at another aircraft. What can we do on that aircraft? On the F-16, not only doing the MRO, we're also doing the cockpit upgrades. We're doing other things around those aircraft, so yeah, we target certain aircraft and say, how can we leverage the full capability sets to pursue that, and then where are those aircraft positioned throughout the world, and I think what's really interesting is the proliferation of unmanned vehicles. They're talking about using F-16s, other older aircraft that all have cross-sections, they all have skins, they all have engines. And they need to be, if you're going to take a pilot out of the loop, meticulously maintained, especially if that thing is going to be carrying any sort of weapons on it. So we think that's an opportunity for us to team with some of those other companies that don't know anything about maintenance, about renewal, modernization. I mean, they want to make them unmanned. That's fine. But there's a spot for us in that evolution, we believe. So there's other platforms we are targeting, Brian, beyond just the F-16. Fantastic. And then maybe just one more for me. It looked like you added a nice logo to your name when the government announced a couple of months ago, the CTR win. I think that was new work for you. Yep. Can you maybe talk about how you got under the tent with that program and where your competencies come forward and how you can grow the business there? Sure. The CTR win was a nice IDIQ. It was a legacy, I want to say, Raytheon. Raytheon had been on it several years ago. Didn't really do any work, and when it came to us in 2022 via the merger, we actually got some additional work on it because it was that geographic footprint that we have because the CTR work, it's all over the globe. It's putting in communication systems, early warning systems. It's combating all sorts of chem-bio threats that we know how to do. The Vectrus entity at the time did not have that contract, so now we have it and can pursue those things on the CTR sort of vehicle, so that was an opportunity for us. We see opportunities there. It's not huge in terms of volume from task orders, but it allows us to use that geographic positioning and the capabilities we have to support those sort of things. Because I think Amentum was pretty big on the last iteration from that, from my understanding. We just never had a seat at the table. Now we do. Maybe just one more. The WTRS contract was such a great win for you. Yep. Over 18 months ago or so, and it's starting to ramp and see more task orders. Can you give us a little bit? I think the task order ramp has been a little bit slower, but I think the opportunity remains large. Can you maybe just help us understand the way that converts to revenue over time? Sure. The WTRS contract, a $3.7 billion ceiling award to us. That was the Army's largest training program. And we continue to be very excited about that. We reached full operational capability, I want to say, July, August time frame. And if you Google it, the customer actually wrote up an article about it, about the transition and how excited they were about it and how it's supporting the Army's transformation initiative, which is a big effort by the Department of War. So they're excited about what they plan to bring over to it. And they state this in that article. And so are we. So right now we have essentially the training aids, devices, simulators, simulations that we're managing, but we are constantly on an engagement campaign strategy to bring more stuff to it. And we think there's the ability to do that. I want to say we've got six months or so of revenue in 2025. We'll have some additional, obviously, we'll get some more revenue in 2026. That's going to help us grow. As we continue to kind of ramp that up, but we think that over the next four years or so, there will be additional upside to what they call it the $200+ million that's coming through that contract today. Any last questions? Great, Mike. Thanks so much. It was great. Thank you, everybody.