Image source: The Motley Fool. DATE Monday, Aug. 10, 2026 at 4:30 p.m. ET CALL PARTICIPANTS - Chief Executive Officer and Chairman - Dr. Yuping Huang - Chief Financial Officer - Christopher Bruce Roberts - Investor Relations - John Nesbett TAKEAWAYS - Revenue -- $5.6 million, increasing from $61,000 in the prior year period due to sales of photonics products across government, educational, and commercial sectors. - Net Loss -- $11.8 million or $0.05 per basic share, representing a decrease from a net loss of $36.5 million or $0.26 per share primarily due to a lower mark-to-market loss on derivative liabilities. - Operating Expenses -- $21.8 million, representing a 114% increase driven by higher headcount, payroll for research and development, and $7.3 million in acquisition-related expenses. - Interest and Other Income -- $13 million, compared to $1.8 million in the second quarter of 2025, reflecting interest generated from a larger cash and investment position. - Cash, Cash Equivalents, and Investments -- $1.3 billion as of June 30, 2026, down from $1.5 billion at year-end 2025 following strategic acquisitions. - Total Assets -- $1.6 billion, which remained relatively unchanged compared to Dec. 31, 2025. - Total Liabilities -- $47.2 million, an increase of $26.5 million compared to year-end 2025. - Stockholders’ Equity -- $1.6 billion as of June 30, 2026. - Contract Backlog -- $42.5 million, with contracts typically performed over a period of 12 to 18 months. - Acquisition Capital Expenditure -- $180 million used for the purchases of Luminar Semiconductor, Inc., NuCrypt, and NHanced Semiconductors, Inc. - NHanced Acquisition Terms -- $73.1 million in initial cash and stock, with an additional $72 million available if performance targets are achieved. - Revenue Mix -- 70% to 80% derived from government contracting, primarily as a subcontractor to aerospace and defense primes.