Core Insights - The company transitioned from a wave-energy focused R&D firm to a full-service maritime domain awareness provider offering autonomous surface and subsea platforms [1] - Achieved a record $12.5 million funded backlog driven by multi-quarter fulfillment of international defense and commercial contracts in Latin America and the Middle East [1] - Secured a U.S. Department of Defense Facility Security Clearance at the Secret level, enabling the company to compete for high-value classified programs previously inaccessible [1] Financial Performance - Implemented a disciplined operating model that reduced operating expenses by 27% through headcount optimization and tighter expense controls while growing revenue [1] - Attributed fiscal 2025 revenue shortfalls to defense procurement delays caused by election-related uncertainty and the pending U.S. administration transition [1] Organizational Changes - Redesigned the sales organization under new leadership to focus on mission alignment and procurement realities rather than simple transactions [1] - Attained ISO 9001 certification to meet prerequisite requirements for long-term engagements with large-scale procurement teams and improve repeatable manufacturing [1]