Good morning. Thank you all for joining us today. Sally Washlow, Orion's CEO; and Per Brodin, its CFO, will review the company's first quarter results and its fiscal '26 outlook, and then we will open the call to investor questions. Today's conference is being recorded. A replay will be posted in the Investors section of the company's website, orionlighting.com. As a reminder, prepared remarks and answers to questions include statements that are forward-looking under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include words such as anticipate, believe, expect, project or similar words. Also, any statements describing future objectives or goals, company plans and outlook are also forward-looking. These statements are subject to various risks that could cause actual results to differ materially from current expectations. Risks include, among other matters, those that Orion has described in its press release issued this morning and in its SEC filings. Except as described therein, Orion disclaims any obligation to update or revise forward-looking statements made as of today. Reconciliations of certain non-GAAP financial metrics to their nearest GAAP measures are also provided in today's press release. Now I will turn the call over to Orion's CEO, Sally Washlow.

Good morning, and thank you for taking the time to join today's call. When I became CEO in April, I was confident that we could promptly establish a trajectory of year-over-year growth in revenue, profitability and shareholder value. Today, less than halfway through my first full quarter as CEO, I can say that I'm not just confident of it, I'm certain of it. Here are the 3 reasons why I am certain of it. Orion Energy Systems is recognized widely for unsurpassed quality in LED lighting and electrical infrastructure for industrial and commercial facilities, unsurpassed quality. The proof of this is that some of the biggest names in the automotive industry rely on Orion and effectively only on Orion to light up its most critical facilities in North America. Orion Voltrek is recognized particularly throughout the Northeastern United States for unsurpassed quality in EV charging and electrical infrastructure. Unsurpassed quality. This, too, is evidenced by yesterday's announcement about our most recent deployment in the Boston Public Schools. Orion is also recognized widely as an ongoing partner of unsurpassed quality in our maintenance services. Unsurpassed quality, our maintenance services have been integral to our long-standing and new customer relationships. Recent headlines notwithstanding, all 3 markets for these business lines have tailwinds nationally and regionally. Orion has a timely opportunity to convert its quality leadership into market leadership in all 3 of them. We further believe that this translates into a parallel growth opportunity for reoccurring revenue and margin expansion. With a sharpened focus on growth, profitability and market penetration in each of these areas, we believe we can achieve that market leadership in this fiscal year. I'll have more to say about this with increasing frequency and with increasing granularity throughout this fiscal year. But for now, I believe strongly that…

Thank you, Sally. Good morning, everyone. Today, we reported fiscal Q1 '26 revenue of $19.6 million compared to $19.9 million in Q1 '25, with 2 of Orion's 3 segments growing year-over-year. LED lighting segment revenue increased 1% to $12.9 million compared to $12.8 million in Q1 '25, reflecting increased project activity, offset by lower lighting distribution channel sales. Orion's expanded LED lighting project pipeline and efforts to drive growth in the distribution channel are expected to contribute to higher revenues in fiscal '26 versus fiscal '25. Lighting achieved a Q1 '26 gross margin of 31.8% versus 22.6% in Q1 '25, with impacts from pricing increases, cost reductions and sourcing initiatives amplified by a more favorable Q1 '26 project and revenue mix. Electrical Maintenance segment revenue increased 21% to $4 million in Q1 '26 from $3.3 million in Q1 '25, reflecting the benefit of new customer contracts and the expansion of some existing relationships. We achieved a Maintenance segment gross margin of 22.4% in Q1 '26 versus 3.8% in Q1 '25 as we were still working through some of the remaining Stay-Lite legacy customer contracts, which were no longer profitable in the prior year period. EV charging solutions revenue was $2.7 million in Q1 '26 compared to $3.8 million in Q1 '25, reflecting expected variability in the timing of larger projects. For example, Q1 '25 benefited from $1.3 million of Eversource-related projects that did not recur in Q1 '26, and we had nominal Q1 '26 revenue from a $3 million public school bus project that commenced in the last week of the quarter and should be completed in Q2. We expect a sequential revenue improvement in Q2 '26, primarily due to the school bus project and one other significant contract. EV achieved a strong gross profit margin of 33.5% versus 33.4%…

Our first question comes from the line of Eric Stine from Craig-Hallum Capital Group.

So I mean, you clearly now have the cost structure set up to drive profitability, just a number of revenue growth initiatives. So I am interested in the electrical infrastructure piece. And I know you kind of said you're somewhat limited as to what you can say. But as we think about that, I mean, is that something where you would potentially bring that under your turnkey offering, leverage those relationships with electrical contractors out there, subcontract out. I guess I'm just trying to get at kind of what is entailed in building that out? Is there much of an investment needed on your side to do it? And any details you can share would be great.

So we are in the early stages of it. With growth, there'll be more investment, but we feel our current infrastructure can probably manage it and then we can scale appropriately. And this could also come from some of the EV work that we do as well. So think of it beyond traditional even turnkey lighting EV as well.

Got it. Okay. I guess I'll stay tuned on that one. And then secondly, I know your pipeline, you've been optimistic on that for some time, and we have seen a pickup in orders. I know that it takes time for that pipeline to flow through to actual awards. But do you expect that as you get into fiscal '27 and beyond, you start to see the impact of that growing pipeline and start to see the leverage from that revenue growth?

Yes. We do think that it will go beyond this year and into next year, absolutely. Some of the projects or things that we're working on now will continue into next year.

So they will benefit in the current year and then years beyond.

Right. And then the pipeline, though, I mean, right, the pipeline, what you've got now gets you into part of '27, but closing the pipeline to drive further growth to see further operating leverage.

Correct.

Correct.

How we should think about it.

Our next question comes from Bill Dezellem from Tieton Capital Management.

I'm probably going to break the rule of 2 question limit here. Let's start with the electrical infrastructure, if we could. You mentioned that you have an initial project. And to help us understand really conceptually what it is that you're talking about when you say electrical infrastructure, would you discuss kind of the actual activities that you all are doing with this contract win, please?

Sure. We'll discuss more of it in further releases. We're in the early innings of this project, but it is beyond our retrofit lighting and doing a lot more of the electrical infrastructure work and setting up areas to even on EV, do a lot more work surrounding that. So like I've said, this has just started, and we'll be back with more details. And I think you'll see an increase in announcements from us on all the work that we're doing.

And Sally, did we hear correctly that you have embarked on expanding the activities that you're doing in this electrical infrastructure by request from your customers?

Yes. It started from a request of a customer that we've worked with requesting us to fulfill some other services within the work that we were doing with them, and it's further expanded.

That's helpful. And then the Northeast bus activity, I believe that in the past, you all had -- I think it was the Boston school system. And I think that contract probably was completed. So would you kind of relate or tie together the contract of the past versus this new win that started the last week of June. And if they're somehow related, if they're unrelated, what tie or link there is between them, please?

Sure. It is further expansion of what they're doing across Boston in terms of electrification of their public school bus systems. So yesterday, we announced the work within this realm. So it's further expansion of the electrification of their fleet. And leading from the great work that we did, there's a continuation and award of more business.

And so the announcement yesterday of $6.5 million for the Boston Public Schools, that is a new win. That's not the current win plus the win of the past?

It is an ongoing win. So we've started some of the work, and it will continue throughout the year. But it had not been previously released.

So it did not include the revenues we recognized in the prior year for Boston for what I'll call the first 2 phases of that project.

And Per, to help us scale this, the first 2 phases, what was the revenue amount with those 2?

Phase 1 was approximately $1.3 million. And I believe Phase 2 was another $1 million, give or take. I'm not certain of that piece of it.

So this is a meaningful expansion. I mean we go from $1.3 million to $1 million and then Phase 3 now is $6.5 million. Is that the right way to think about this?

Yes.

Yes. And maybe another way to give it more context that those first 2 phases I mentioned were the same location. And so if you think it's $2-plus million for that location, then as they're expanding to other locations, that's when they -- the amounts can add up pretty quickly.

Well, then that begs the question of how many different locations do they have?

That, I don't know.

But more than 2?

Yes.

Okay. Great. And then one additional question for now, please. In the past, you all have talked about the fluorescent bulb ban that is to take place in certain states. Would you bring us up to speed the dynamics of that and whether any of those have been pushed out this year or pulled in? Where do we stand, please?

We probably need to get back to you with a complete answer on that. I haven't seen any walk back, but we can certainly follow up with you on that.

Do you foresee that being a driver to business for you all? And if so, when would you think that you would start to see the benefits from that?

I think it's one of the drivers of the business for us, but another big driver for the business is the ROI that these projects provide to the customers that we deliver them to.

And from a timing standpoint, a number of the states began the beginning of this calendar year. So it will have started to make an impact, but others, it's not until the beginning of calendar '26.

And enforcement, are you sensing that the states are enforcing the law at all? Or is this a case where businesses will just naturally deal with their lighting situation as they have problems, breakage, et cetera.

I think it's too early to tell on enforcement.

Congrats on the nice margins.

This concludes the question-and-answer session. I would now like to turn it back to Sally Washlow for closing remarks.

I want to thank everyone again for taking the time to join us today. We look forward to updating investors on our second quarter call in early November. In the interim, we hope to have the opportunity to meet in person or virtually with many of you. We will be conducting some individual investor meetings as well as participating at the H.C. Wainwright Conference on Tuesday and Wednesday, September 9 and 10 in New York City, and we'll present at the Singular Research Alpha Leaders Conference also in New York in September. We will announce details via press releases. Please also reach out to our Investor Relations team with any questions or to set up a meeting. Their contact information is at the bottom of today's press release. Thank you again for your interest in Orion. I look forward to updating you on our progress next quarter. Operator, I'll turn it back to you.

Thank you, everyone, for your participation in today's conference. This does conclude the program. You may now disconnect.