Financial Data and Key Metrics Changes - Consolidated revenues for the first quarter of 2025 were $274.2 million, a decrease of 13% compared to $315.2 million in the prior year period [19] - Net loss attributable to common stockholders was $24.8 million or $1.89 per fully diluted share, compared to a net loss of $17.7 million or $2.21 per fully diluted share in the prior year [19] - Total adjusted EBITDA was $7.2 million, down from $12.8 million in the prior year period [19] Business Line Data and Key Metrics Changes - Infrastructure segment revenues decreased 14% to $264.9 million from $307.9 million in the prior year quarter, primarily due to project timing and size [20] - Life Sciences segment revenues increased 210% to $3.1 million from $1 million in the prior year quarter, driven by increased unit sales [22] - Spectrum segment revenues were $6.2 million, a slight decrease of $100,000 compared to the first quarter of 2024 [22] Market Data and Key Metrics Changes - DBM Global achieved revenues of $264.9 million and adjusted EBITDA of $16.7 million, with a gross margin improvement of approximately 110 basis points to 15.6% [7] - R2 tripled its year-over-year revenue to $3.1 million, with significant growth in North America [12] - The company is now serving 28 countries and has entered into distribution agreements in several European and South American countries [13] Company Strategy and Development Direction - The company is focused on addressing its capital structure and near-term debt maturities while leveraging valuable assets [6] - The strategic vision emphasizes maximizing the value of assets and exploring strategic alternatives [17] - The company is actively pursuing commercial opportunities in data casting and modernizing broadcasting capabilities [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute on strategic objectives and highlighted the strong backlog and robust pipeline for DBM [6][7] - The ongoing tariff situation is being monitored, with no material impact observed on DBM's business as of now [8] - The company remains optimistic about the market opportunity for R2 and the momentum experienced year over year [15] Other Important Information - As of March 31, 2025, the company had total principal outstanding indebtedness of $672 million, an increase from the previous year [25] - Cash and cash equivalents were $33.3 million, down from $48.8 million at the end of 2024 [24] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with management expressing satisfaction with the momentum to start the year [26][27]