Financial Data and Key Metrics Changes - The second quarter sales were $228 million, including approximately $3 million of favorable foreign currency impact [22] - Second quarter free cash flow increased to $7.6 million, an improvement of approximately $5.9 million compared to the second quarter of the prior year [6][33] - Adjusted EBITDA for the second quarter was $4.6 million, or 2% of sales, heavily influenced by non-operating foreign currency expense of $3.4 million [23][26] Business Line Data and Key Metrics Changes - MirrorEye sales set a record with a 21% growth compared to the first quarter of 2025, driven by the ramp-up of OEM programs [4][10] - Control Devices second quarter sales were $71.2 million, growing by 1.9% relative to the first quarter, primarily due to higher demand in the North American passenger vehicle market [24] - Electronics second quarter sales were $149.6 million, with MirrorEye revenue growing by 21%, offset by lower sales in the European commercial vehicle end market [25][26] Market Data and Key Metrics Changes - The North American commercial vehicle production volumes are expected to decline by approximately 17.5% this year, impacting overall market conditions [31][28] - Stone Ridge Brazil's second quarter sales totaled $15.3 million, representing a 6% growth relative to the first quarter, driven by higher aftermarket product sales [29] Company Strategy and Development Direction - The company is focusing on long-term growth strategies, including a review of strategic alternatives for its Control Devices division, potentially leading to a sale [35][36] - The company aims to optimize resources towards high-growth areas such as MirrorEye and Stone Ridge Brazil, which have shown record business awards [37][40] Management's Comments on Operating Environment and Future Outlook - Management acknowledged complex market conditions but emphasized resilience and focus on factors within their control, including operational efficiencies and cost control [9][10] - The company is maintaining its full-year revenue guidance of $860 million to $890 million, despite anticipated declines in production volumes [31][32] Other Important Information - The company executed a global cash repatriation program resulting in a total debt reduction of $38.8 million and a net debt reduction of almost $20 million [33] - The company announced several significant new awards totaling approximately $775 million in lifetime revenue, including the largest program award in its history [8][40] Q&A Session Questions and Answers Question: Confirmation on MirrorEye contract announcement - Management confirmed that the contract will not impact 2025 and 2026 revenue as it is an extension and takes the program through 2033 [45][46] Question: Impact of new fleet orders on 2026 outlook - Management indicated that the new fleet customers associated with the recent OEM business win would positively impact the 2026 outlook [48] Question: Non-operational FX impact on guidance - Management clarified that the non-operational FX impact was incorporated into the guidance and there should not be any incremental headwinds moving forward [51][52]

Financial Data and Key Metrics Changes - The company reported record revenues of $93 million for the three-month period and $186 million for the six-month period, representing a 1% and 4% increase respectively compared to the same period last year [4][5] - Gross profit reached $28 million for the quarter and $56 million for the six months, with a gross margin of 30% for the six-month period [4][8] - Adjusted EBITDA for the six-month period was $12.7 million, reflecting a compounded annual growth rate of 28% since 2016 [4][10] Business Line Data and Key Metrics Changes - The modest revenue increases were attributed to irregular industrial revenue and delays in large sales order contracts, despite a recurring base of industrial business [6][7] - The company achieved record gross profits, partly due to a shift towards higher-margin parts and services [8] Market Data and Key Metrics Changes - The company has a backlog of over $100 million in equipment sales, indicating strong future revenue potential [7] - The company completed two acquisitions during the six-month period and a third acquisition shortly after, expanding its presence in the Southeast and Midwest regions of the United States [11][12] Company Strategy and Development Direction - The long-term growth strategy focuses on becoming a leader in the commercial laundry industry, with a compounded annual growth rate in revenue, net income, and adjusted EBITDA of 31%, 19%, and 28% respectively since 2016 [3][4] - The company emphasizes a "buy and build" strategy, acquiring family-owned businesses while preserving their culture and legacy [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth prospects, citing a strong financial position and ongoing investments in technology and acquisitions [10][14] - The company aims to leverage its technology initiatives to enhance sales and operational efficiency, despite short-term financial impacts [9][10] Other Important Information - A special cash dividend of $4.6 million was declared, marking the largest dividend in the company's history [5][10] - The company has increased its net debt from $8.3 million to $24 million due to acquisitions and working capital investments [11] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.