Operator

Gentlemen, thank you so much. Greetings, and welcome to the Red Cat Quarterly Earnings.

[Operator Instructions]

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ankit Hira, Investor Relations. Thank you, Ankit. You may begin.

Ankit Hira

Good afternoon, and welcome to Red Cat's First Quarter 2026 Earnings Conference Call. Joining us are Red Cat's CEO, Jeff Thompson; COO, Chris Erickson; and CFO, Christian Morrison. Please note that certain information discussed on the call today will include forward-looking statements for future events at Red Cat's business strategy and future financial and operating performance, including Red Cat's target revenue. These forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict and may cause actual results to differ materially from those stated or implied by those statements. Certain of these risks, uncertainties and assumptions are discussed in Red Cat's SEC filings, including its most recent annual report on Form 10-K and other SEC filings.

These forward-looking statements reflect management's beliefs, estimates and predictions as of the date of this live broadcast, May 7, 2026, and Red Cat undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call.

Finally, I would like to remind everyone that this call will be recorded and