Operator

Good afternoon, and welcome to the USA Rare Earth First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to J.B. Lowe, Vice President and Head of Investor Relations. Please go ahead.

John Lowe
VP & Head of Investor Relations

Thank you, Gary. Good afternoon, and welcome to USA Rare Earth's 2026 First Quarter Earnings Conference Call. With me today are Barbara Humpton, Chief Executive Officer; and Rob Steele, Chief Financial Officer. Following Barbara and Rob's updates across our business and quarterly results, we will open the lines for Q&A.

I would like to remind participants that today's discussion may contain forward-looking statements. Please refer to the press release and our SEC filings for discussion of risk factors. Listeners who do not have a copy of the press release or associated presentation may access these documents by visiting the Investor Relations section of the company's website.

With that, I will turn the call over to Barbara.

Barbara Humpton
CEO & Director

Thank you, J.B. USA Rare Earth is at a defining moment. Our mission remains clear, to be the global champion in rare earths and the partner of choice for the advanced materials that underpin Western national security and technological innovation. The initial months of 2026 were defined by our transformational and strategic actions. By announcing 3 critical transactions, Serra Verde, Carester and the