Operator

Good morning, everyone, and welcome to the Quarterhill First Quarter 2026 Financial Results Conference Call. Joining today are Chuck Myers, Chief Executive Officer; and David Charron, Chief Financial Officer. [Operator Instructions]

Earlier this morning, Quarterhill issued a news release announcing its financial results for the first quarter ended March 31, 2026. This news release, along with the company's MD&A and financial statements are available on SEDAR+.

Certain matters discussed during today's conference call or responses to questions may constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect results are detailed in the company's annual information form and other public filings available on SEDAR+.

During this conference call, Quarterhill will refer to adjusted EBITDA. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS. Please refer to the company's Q1 2026 MD&A for full cautionary notes regarding the use of forward-looking statements and non-IFRS measures. Finally, please note that all financial information provided is in U.S. dollars unless otherwise specified.

I will now turn the call over to Mr. Myers. Please go ahead.

Charles Myers
CEO & Director

Good morning, everyone, and thank you for joining us for our Q1 '26 earnings call. This quarter marks an inflection point for Quarterhill. We delivered 14% year-over-year revenue growth, 28% gross margins and posted our third consecutive quarter of positive adjusted EBITDA. These are not isolated data points. They are proof that the company we set out to build 2 years ago is now operating at scale.