Lightbridge Corp. 2026 Q2 Earnings Call

Thank you, Grace. Thank you all for joining us today. Our earnings press release was distributed yesterday and is available on the Investor Relations page of the Lightbridge website at www.ltbridge.com. Joining us on the call today is Seth Grae, Chief Executive Officer, along with Andrey Mushakov, Executive Vice President and Chief Operating Officer, Scott Holcombe, Senior Vice President and Chief Technology Officer, Larry Goldman, Chief Financial Officer, and Leslie Mills, Controller. I want to remind our listeners that any statements on this call that are not historical facts are forward-looking statements. Today's presentation includes forward-looking statements about the company's competitive position and product and service offerings. During today's call, words such as "expect," "anticipate," "believe," and "intend" will be used in our discussion of future goals and events.

This presentation is based on current expectations and involves certain risks and uncertainties that may cause actual results to differ significantly from such statements. These and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as a result of new developments or otherwise. With that, I would like to turn the call over to our first speaker, Seth Grae, Chief Executive Officer of Lightbridge.

Oh, no. They're going to call you. They're going to call you.

Hello? Hey, Seth. Yeah. You want me to put you on speaker?

We never had a problem like this before. These calls are live, thank you for holding on through technical difficulties here. I appreciate it. I'll just start again. I'll say thank you, Matt, and thank you all for joining us to discuss Lightbridge's second quarter and first half 2026 business update. In May, the initial batch of our fuel material samples was removed from the Advanced Test Reactor at Idaho National Laboratory. Those samples are cooling now, and we expect post-irradiation examination to begin later this year. The examination will give us our first measured material property data under initial burnup conditions, data generated from our own fuel samples in the world's most powerful test reactor. That data will feed directly into the fuel performance models and the licensing documentation we will submit to the U.S. Nuclear Regulatory Commission. Alongside that milestone, we advanced in other key areas in the first half of 2026.

We integrated the Lightbridge Fuel design into the commercial core management software that many utilities already use through a partnership with Studsvik Scandpower. We took additional steps towards securing a domestic supply of enriched fuel material for commercial deployment through a memorandum of understanding with Quadrant Nuclear Industries. I will now turn the call over to Andrey Mushakov, Executive Vice President, and as of today, congratulations, Chief Operating Officer, to walk through the program highlights in detail.

Andrey. Thank you, Seth. As Seth mentioned, we continue to make progress across our fuel development and qualification activities.