AMSC - Earnings call transcript Q1 2025 | American Superconductor Corporation

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Operator

Good day, and welcome to the AMSC First Quarter Fiscal 2024 Financial Results. [Operator Instructions]. This event is being recorded. I would now like to turn the conference over to Nicol Golez, Director of Communications at AMSC. Please go ahead.

Nicol Golez

Dave. you, Thank and of everyone, American Corporation's Superconductor Good Year welcome XXXX Quarter Fiscal Earnings First morning, to Conference Call. Golez, I Nicol Director Communications. am of With on today's are us call Mr. and Officer; Daniel Chief Chairman, President and McGahn, Mr. Executive President, Vice Officer Senior Kosiba, Chief John and Financial Treasurer. release issued quarter closed. of the Superconductor XXXX American for after year yesterday first earnings its market fiscal

the have the company's of who release, those page seen For a copy at www.amsc.com. Investors the not is available in website

those Factors about on XXXX, I call, quarter the remarks American would like in Superconductor's Commission factors, of Superconductor's you company's management's section on the those company expectations any May after the remind which forward-looking prospects should only including ended today. statements report various statements because make by various be forward-looking the annual XXXX Act harbor Litigation and such Securities of financial year with second XX, filed the and including the Exchange important the for XX-K March Risk safe Form SEC. as of and the of to management represent performance, of Reform that regarding may management's XXXX, plans provision from under reports starting expectations American of year XXXX. constitute filed statements as upon company's relied may not views today indicated other expectations, purposes as future Private results representing and with Before These the date XX, Securities fiscal for forward-looking the Actual of materially differ

other loss reporting income statements. or assist or measures. The in these that across believe financial be comparing its company to of net press Superconductor's accessed are to SEC net its cause reconciliation Chief change, furnished and year refer consistent and American on the call, that, The website company management the can subsequent core anticipates page filings it on company's of and XXXX the non-GAAP can indicative views call Mr. believes and update last Also, noncash, to not press a first specifically GAAP the Chairman, the non-GAAP that basis I income nonrecurring the Investors SEC President over income performance. X-K. performance the management today's releases any Daniel www.amsc.com. that night in and operating issued from excluding the charges does company's release net Form now non-GAAP to company be quarter will disclaims the of at may earnings on turn Executive non-GAAP to of obligation Daniel? by events these periods forward-looking will investors McGahn. company fiscal Officer, net While With found to developments

Daniel McGahn

morning, wind followed our XX, on fiscal good on comments of acquisition. results ended detailed XXXX, providing for fiscal our units, everyone. recent which guidance the Kosiba quarter, first financial the will September which and review second the XXXX, XX, end John comment begin provide acquisition. an on I'll grid for quarter, business June and Nicol, update today Thanks, and then our by will by a provide

remarkable our Following is business to year. analysts. and questions line up very delivered comments, a thriving, our to we start fiscal The our open the yet from we'll new with We're good another off quarter.

grew versus XX% revenue line range first Our Total with by quarter for than and more the our the period. year ago great guidance of XXXX. in team reported for the results first fiscal quarter came

shipments. $XX was Our by energy first driven new quarter power revenue of system million strong

both projects through in We with very a remainder new level. $XX we've been systems at We came with year for million quarter exceeded for in million which We average year revenue margin came performance the each quarter for Energy record the announced ago a than our a of fiscal XX% strong the the Navy the AMSC's customers million. year and Canadian for segments. is Royal in We existing combination of the revenue more this bookings ended $XX had first period. This order revenue of our business, Power versus grew in $XX XXXX from that ship of first strong our business ago. Systems million of and gross The a grew cash. wind new XX% row of XX% over protection the products. accounted grid total second quarter from and in from while first quarter the our about $XX levels Our over revenue quarter at

We backlog. semiconductors quarter Energy from Power XX-month million of We million a and to our year generated a the from represent entered contributions XX-month our wind of represent we received We strong also, Our and Systems in $XXX growth also backlog third is $XXX new total a new Winds, than ended These Inox business and record. over achievements our $XXX million. customer at ability the scale. orders with recent in expanded $XX million deliver renewables, orders of mining. order utilities, the quarter. million industrials, more This financial $XXX and results diversification, backlog follow-on

and are by with pleased results very our orders We momentum. these encouraged

the for Our business be appears to well future. positioned

which of the quarter financial Kosiba fiscal fiscal second addition for provide guidance our the family. turn John the of end of John? comment XX, call results NWL Now for I'll the to the first to XXXX, AMSC on will and XXXX, quarter September over review to XXXX,

John Kosiba

ago in AMSC $XX.X the generated quarter. compared the Thanks, quarter good XXXX everyone. first for Daniel, million $XX.X of fiscal morning, revenues and year of to million

accounted for unit the the business by quarter. new power versus Grid XX% revenues revenue quarter change was year-over-year business driven ago led ago in increased growth was versus our year Grid increased ECS by by revenues unit shipments. the first energy in quarter business change systems. first year Wind year-over-year The This Our the unit This from XX%. wind for by XX% unit our accounted XX% while quarter. revenues, of total business

of Gross will culmination factory a to was to lines. the favorably couple in taken our product This yielded the impacted as elevated in across of margin levels mentioned. absorption Looking positive to increases believe margins XX%. of have revenue gross margin over We business. fiscal We our events the a at increased gross this our the was due first spare quarter that the I actions year perfect quarter Gross was pricing XXXX mix, well as continue last expand margins quarter. including on gross up product the QX. experienced by detail. these for that drivers the across the ago for and our revenues, strong expansion service product a years is margin the parts This favorable elevated of lines, in XX% from impact P&L more

SG&A R&D in for the XXXX $XX.X quarter and fiscal and of R&D million expenses. expenses operating quarter. to of were first Approximately compared to SG&A were $X.X XX% on ago fiscal year expenses quarter the the of million Moving XXXX in first noncash.

$X.X we in the exclude fiscal million per was have NES Our consideration net This of a the million net loss contingent ago or contingent which in would $X.X loss is I'd the share. that If consideration, year first $X.X a per to quarter. compares XXXX acquisition, of revaluation for quarter. noncash a included mention like share generated was first in of in to the $X.X or our the quarter item. to related $X.XX the quarter million expense net income loss AMSC million net $X.XX

GAAP per income Our in night million last loss non-GAAP see or This XXXX. release the million $X.X fiscal with million million of first We per March with non-GAAP of cash of of compares quarter was flow with press a $XX.X quarter issued and ended share of in on the XX, a net fiscal in XXXX. net of cash. for We $X.XX or $XX.X share cash quarter XXXX $X $X.X ago the the cash, first compared Please year reconciliation equivalents restricted quarter. to for generated results. $X.XX fiscal million non-GAAP our first operating XXXX

Now quarter of the XXXX. guidance for fiscal second turning our to on financial

of that the million. revenues will be expect in million to our We $XX range $XX

contingent to million net $X.XX $X.X exceed expected revenue our per or on in share. Our net guidance that note Please changes consideration. loss not that no loss assumes is

the before not quarter include of fiscal expects non-GAAP from recently in second of breakeven least our guidance of flow be expect company the impact operating does to We the range cash to to breakeven the company's net at XXXX income NWL. The acquisition. The of positive any impact acquisition million. $X announced

not in late received impact does contemplate our expected early on approximately guidance it October. or this a could that if flow That September Additionally, our favorable have to Navy payment within payment operating million quarter. paid milestone cash is be is the significant allied an from $X

day to acquired AMSC the million. million their calendar $X XX% closing in AMSC The paid a financial sells XXXX consideration in XXXX common NWL of margin share restricted They've on price to that million were of to to Gross was to $XX significant our million stock million. $XX for calculate which experienced and was the operating paid agreement. an $XX by Jersey-based sellers to calendar X, on revenue The X price the sells like last and The acquisition million approximately the was issuing years. in paid growth X.X I'd XXXX, million. approximately Summarizing averaged New NWL, The remaining consideration the approximately August operating shares comprised The a with take additional expenses Now paid $XX.X adjustments year of million XXXX XX%. was acquisition. used statement, set cash, and income prior over to stock military considering summary in calendar industrial $XX.X recent after in NWL a NWL customers. to polysupplies transformers the revenues was closing margins closing. various provide calendar shares the the at $XX be closing. the million company On XXXX for were paid $XX.X of stock and of purchase was private to moment $XX.XX most in total has

balance at acquired $X.X acquired long-term in $XX.X included in million We acquired which The in the approximately current fixed valued debt-free basis. million assets. and in on intangible million to outright. The short-term assets, a liabilities. deferred closing approximately approximately million, are had assets and liabilities $X.X sheet tax the We billion company $X buildings sheet. liability in fixed $XX.X assets a million on moving owned -- $XX New Now at X in million balance XX.X Jersey

December substantial that tax benefit AMSC will taken a expect Given the as loss fact be not in against tax before XX-month income carryforwards we total profit, ahead. approximately backlog quarters million. future of apply to deferred the and approximately backlog has total to to much XX, a realized More be backlog that of will other and of of XXXX. mention, One is acquired we that liability expected million point ship that $XX half a $XX than

see, As a has you current financial the we can we strong company that backlog sheet a solid a that balance performance, acquired demonstrates believe of and business. their health of a history

a impact we financial As to are acquisition this result, an expecting performance. on our immediate positive have

final last reconciliations. the financial contribute our Looking last purchase add One which need had acquisition our accounting and favorable through flow. meaningfully on Due XXXX fiscal information X-K to occurred acquisition finalized the XXXX will see regarding Danny. activities ahead, shows fiscal have April the the the and prior night that that for will June to of operating to have in NWL to X, note, I'll quarter XXXX purchase results. on year QX more any impact as impact accounting QX pro we consolidated call Please financial our includes would and with that April expectation filed we that if is XXXX. turn over revenue fiscal to had an unable forma we financial the to cash are SEC, be the for information. With guidance X, With are X-K XXXX, back working our the that, and may our said, provide acquisition specific of

Daniel McGahn

business. we powerful year acquisition with owned becoming supplies XXXX provides NWL X ago, family, motor part the was orders financial announced been momentum, results to same addition XX family solid company power began operated couple for in our we years. the a and Thanks, NWL. has days of for of A Prior by what the over privately to John. fiscal and believe a a of generations strong to reach held energy for of of drives New AMSC product be with We military for NWL growth, and It and variety acquisition to a NWL revenue acquisition offerings history market critical for priorities share. complement market is extend to average military sectors. per well of and a NWL product aligns as applications industrial The directly our has our NWL The with and million X-year year. offering of profitable accelerate our in as strategic broaden the approximately expected $XX of systems. expand profitable Jersey. our

strategic power our systems that we As Navy help ship U.S. to systems. Systems, from business, threats. Today, has Navy. with we NWL systems We functions. them of our expansion possibility that's environments. are we by a footprint ship to we're business for power protection hard a looked military that of also NWL of like deployed run stay a people potential may in NWL and we our the was Department see part we multiplying buying next within that ship we ship their Navy install fashion step ships protecting Ship like. typically we military industrial enemy especially protection an can help our company hidden supplier. the Together in It's to as as Power with problems run the the to the that's expand that the NWL also hardened have known We powering we [indiscernible]. a know. from believe expedite see our Defense, AMSC from solve we supplier exceptional customers offering NWL military to fleet. and With qualify like, and that a fleet They the

revenues long-term the acquisition respect it to reach earnings, a goal of been accelerate the sustainable with most our and customer and we we that have importantly, by has acquisition this made built. further profitability. to the region, what We Strategically, and diversification of our quality improve ability believe product. And lot NWL that for will with expectation achieve our will

growth. further in ever focus the income the In access we the acquisition continues This the balance and diversified customers access continued levels. we're penetration. strong sheet mentioned to how immediate we for that doubling side, largely guiding at flow us to in net quality to predictable NWL underscores over the can the the level. the is industrial industrial market and believe and past revenue are a in building best today move and NWL expand position have provide substation possible today. from believe in of earnings, continue We non-GAAP really the expected resides on to our NWL a we X To business. and generated conclude, we expansion our more Their customer addition cash it's improvement We serve quarter. been XXXX believe quarters, the where and fiscal positions of do in factory, we improve. the positive to of not addition that quarter, will our fifth customers for operating consistently Last of we the our business possibility revenues

levels quarter Let me range. were a $XX remind those you million the in

the income. our potential The addition diversified $XX a have financial scale we and NWL million $XX with now place level, to in our continued the should position At generate strong getting changes a strong for us to coupled performance, is business growth. of of of notion Our million this certainly quarterly possible. quarter net

We in have tailwinds ship U.S. wind momentum and several businesses company's our hopefully by growth. our will policies continue generated to that drive and

this Through Royal quarter, hardware, Ship announced SPS our services, Canadian our integration allied system we Protection surface multiple Systems expect commissioning to Canadian the or Navy proprietary we During multiyear our contract the our with Navy engineering combat. into and SPS. deliver for of first first provide contract,

Canadian by first deliver working at with system SPS of Irving fleet that XXXX. our XX% over shipbuilder diligently constructed today sea a are has We to Canada's Shipbuilding,

the mine sailors. to to protection contracted platform its Combatant Surface Canadian and We provide to world-class be grateful are

we In contracts system. Antonio LPD U.S. have MCM of proprietary Navy on the total SPS working Mine our are X addition, San for a or Class and Countermeasure

AMSC's We platform business. see U.S. We when systems. to for Navy add expected expanding LPD Navy, platforms, and expansion our powerful are and together are CSC protection coupled U.S. NWL's AMSC ship ship addition companies the into opportunities, systems to designed the an product a from combination. Royal for it into Navy The opportunity expedite ship to in especially present to of multiple the military X the goes MCM the hope we with Navy exciting power production. with progress, provide military ship Canadian

on are achieve our to focused ability keenly We sustainable goal our profitability. of

very are We close.

If you as AMSC most manner in will a listened may you there. achievable. exciting may to can to at then and the continue have If they tell. already This time may demonstrated recently John carefully, the that Kosiba's is NWL here contribute comments understand goal part be we truly of similar time an sustainable be

help desire again the XXXX. and now decarbonization efficient our analysts. clean more following for for world's to future-facing completion second the you reporting I Our take delivery. power fiscal look energy and harmonize to need effective technologies we'll of from forward of questions the with reliable, our quarter Dave

Operator

[Operator Instructions].

Our from first Hallum. with Craig Eric question comes Stine

Eric Stine

near that So got on through in momentum of just which of through there appreciate to some work to the of some able things outlook. change are what provided is business? why can that term you you here terms any would the are that curious, specifically you release I'm average. for go a trends specifics the that impacting But in NWL, is reason their clearly to there business, X-year the above in And be I

Daniel McGahn

Yes.

million to I it, we think of how basically people range the margins NWL and have gross I the has entire size from the the think have asking is of been think But are much kind business. margins valuing X-year margins operating at parts of positive and improving. get business, the shows. performance so. in understand looked average see we talked They're it delivering kind to The the that that recent understand stronger we we've what $XX business we as the to about for growing the to been wanted business. of of trying Their rightfully average most than you're

with So talking it in been we're about. fits what we've doing perfectly strategically and everything financials really with fitted the

Eric Stine

I And on recognizing it Inox. And more cadence then that order. potentially the follow-up, orders you size that, of Got once assume backlog? is us remind the what you it. will for to be? that the through just expect know maybe of just my given would got Inox's safe you X-megawatt sizable Can

Daniel McGahn

X.X really is, it of been where double that off north at order which shipped with starting to the expect Their on we calls, be positioned stands past take said in the we business today to even those had more this fiscal backlog their specifically have, we gigawatts you products to announcement, than is as year. that's total, in remember, that Yes, at. if be

that the business for the this for term of think about the longer I year. talked derisking adds So we've that the to projections

that So a great position control we a Inox position. is product, out a they're think technology, system from that is that from from in comes think We And this selling improving. think new X-megawatt wind that have standpoint. great we which turbine is us a they

saying than needle year business a doing This this, know we really where on a And a hitting is sounds the we we're the we've this all different like feel look between really new Navy, with And we're we but at like going position NWL again think get ago. that huge, each very that year, company things I we're quarters well. it which when huge Inox So the add you in different of Eric, look ago. is this what in then a was ahead. than pretty been from when I with moving even at energy couple were orders, order we're I feel it I orders,

Operator

comes question Colin with Oppenheimer. from The Rusch next

Colin Rusch

got much at the look look the some there guys the you that talk the have, you they've NWL is around chain customer for might if synergy of as Dan, how see? synergy and could you And there you that some of savings same and bit can that you might little a cost guys at and and list about then supply see speak we there? might to you impact to start the

Daniel McGahn

Yes.

industrial think power sell customer and their you at controls base, look the into side, they I they the factory. the the where particularly start, when go on supplies

capability very an we they today power in of the level list equipment. are going for every a So customers industrial they're the for our large-scale need case change that because In go on just that plant customers. it equipment serve simply run and in study, NWL additional a they whole the in substation a is focused what And capacity we're to transformative control of components that so don't day. opens projects and up factory

up U.S. whole new I and my to But the chips sell our protection think sales of is transforms ships. customers. should going can think the But us about into my Navy, channel in to get really our we open ship not that's the really within more Navy. excited industrial with types what expedite think help Department can the for hear powering So our us allows ability about you of those specifically about a events, to to military. but tenure, also platforms It to protecting systems how I'm reach voice on just think the I

pulls. So the part customer we think really

I board. we supply supply asking, think chain the the across yes, done be think there, there's work I can and on you're improve as chain to the

will in financial as scale continue to scale think and performance us think matters I term this I the help well. to business longer improve in

Colin Rusch

the fully like take times past. appreciate color gone you synergies integrate with clean to little do can a few made some cleaner the I acquisitions to through that than So other story think looks bit this you've of so some on have that will long the the This the the here. that in platform, fully realized you now operations of through need haven't a I work how time the it considerations. you financial

Daniel McGahn

here, The I scale. difference the Yes. think, is

growth We're management generating built, well team. real X They able a the have is do a adding very culture. that. well real nice a than a been acquisitions have have that's a very consistently. operating that you very They on different business This margin in established last to piece So trajectory. a that's they have operating system,

So easier, I less more combined. than in think what can be the straightforward, going we more do risky, many ways simpler, us to work is to valuable together,

Our the in team them NWL. us chapter and next the helping next business. about super feel the super step team their about is go to the They're level, I from excited NWL. at excited to next

another think it really I is transformative for company. event So the

think to I company understand going really financial in to months different. from to to how about difference the get think little company, work. a going going few a quarter a bit to a a of that private take It's all a to standpoint, here and kind the that's it's all between it's accounting, take forecasting us frankly probably public more

forward used it's Our their and can risk home and many with But standpoint that us a have meet like able at the to I is into don't from that. in to It is all a to It set integration from necessary customers goes and so by customers, with already to they're that more of exceed. go is talking an move going risk we're by. us part we look going ability things do of needs more a how us we We acquisition going trying business that's heavy think this dimensions. really us operation assess frankly on many a well. with make to as standpoint, an because expectations market so that you today. really well with help or suppliers, much help Time for It's fits to know lift us to quarter to this love help we the and feels performance. months X us to going reach. show not we help to to so see

in, a jazzed the to and work super we've we're being are seen that. a took all always to understand as going to through the things. devil to said, going couple those are We've That of to high-risk see in acquisition. quarters is with work systems [indiscernible], them try the had how experience how beat it the come very with that all understand how kind positive. It We get and So of don't we us of orders and detail.

Christmas not talking hoping the growth the trajectory. we're customers of anymore, great AMSC. about serving only and talking we're about with wonderful as time about get end I'm So about We're NWL fiscal markets at we year, technology. to We're we're the the talking great talking

Operator

from comes Justin question Roth Capital next with Clare The Partners.

Justin Clare

here start those potentially wanted military NWL. revenues is could So industrial also for size I us on each revenues? And just you the versus Do sense Or share the of you of mix -- relative then give to businesses? their their a at just possible different platforms them? time. it Is similar? into might businesses? of those gross be NWL, share just they curious each margin profile how for are the to also meaningfully between on then it ship Or point supplying pretty this And they many in of

Daniel McGahn

Yes.

for everybody of So I think that important let to me make lot good sure, understand. a Justin, I hit all are asked those because questions you

the that percentage happen in you that's revenue and are of next the next it doing. the depends for say we say period, when versus can quarters, indicating I'd by growth that's or XX% of business of that's delivered. couple engine major years couple what on won't us. so. We valuable But kind but between think if I looking you're we're that think at in military, of the look versus at piece we a military of driven general, really in certainly of was a industrial, So backlog XX%

that customers mean, just standpoint, sure built, then there adds we're on question, margin business the it fits let more of I we third that, margin quarter. that right as to which already is that a there, hit. we to think it Justin, a the look is I but more you to we've valuable, this well. And not us out from piece at in of doing great me put Secondly, the what when our make only

Justin Clare

Yes.

trends is Just Just that, Has right faster curious there. the on to the curious other industrial meaningfully growing one growth the you've ship that And been than relative the on now? supplying of on adding just the curious NWL NWL. and between many businesses recently? platforms on how then seen military

Daniel McGahn

number, to we answer specifically to want go that want are get it's to multiple. to. The get specific on to on Yes. they I platforms They platforms. to, we're want a don't but that platforms

see So kind of color I All overall. nice a the on part is critical in helps the that's all give military business probably a of that that. the business additive, giving puts that just personally, backlog go you I position as my growing and I'll opinion. going far to strong, as overall. become right? to want It's I you see

Justin Clare

one correctly. for say just you then $XXX And NWL then backlog $XX you a Did more. million, that Okay. was heard the want and I sure total of I XX-month to million. make there's backlog

wanted to just to that. above on also check on the So of to line And book-to-bill. XX about deliver million ask the $XX based ability the next time the want in in then maybe I months I

So if could maybe, you address yes, that.

Daniel McGahn

timetable numbers to talk X, going explain the months and about me let Yes, they're book-to-bill for more they're specifically. through John might deliver and that orders it be But X projects, X. some typically can getting go out X,

their order for they with therefore, order being have bring December a and to It revenue. revenue more other quarter of and in business, nice growth turn orders is the March translates that a quicker than next book, business So able which today a we able and revenue and of certainly in gives the more us have at revenue beat, our ability their a into deliver in more to been right? it quarter, generate parts overall history year. And the this trajectory nice love, book to they've

position. bolster So to had we here. quarters And next they're be going a think the in a where few that really good great helps we backlog is heard we're in really, really what

John Kosiba

Yes.

you heard me million I to make XX, to total XX-month $XX correctly, backlog. of XXXX. And million also backlog, will more mentioned December it million half in On just sure backlog, in expected before was $XX that the -- that $XX ship is than

a by XX-month So that since XX-month is that chunk book that shift burn will that the the expected second and have is period -- will big definition, to backlog is XX/XX. by of indicated half in backlog being of

Daniel McGahn

right? it of out the half So XX%, that X of next in months,

John Kosiba

a there's would XX% burn substantial book amount from that's expected. of that that subtract that you And you the and tell

Daniel McGahn

But do. eventually, that's they what

can results did believe the you for you beyond. be can at they we hopefully first the level been they've If that the that's and at the business and half, the at, level see that, grow look as

Operator

like Mr. session. turn This remarks. for to question-and-answer concludes Dan over call closing to would back our any the I

Daniel McGahn

I usually, you most you how see hope is was guys calls. last than I've more the tell This these I excited guys And am. excited Well, been on probably of boy, that one. any me, exciting the always

performance. one We're revenue a building of today, with whole keep new of fiscal right? excitement our for look So we order gross into you system inserts protection a outstanding delivered hopefully, record Navy's beginning future a orders the We $XX margin. this remarkable for the year system when on financial So the transformative at only quarter, performance level XXXX really million here. significant business, but of platforms. Allied years. not our for chip ship multiple And most Great

believe million business we've and tough allows margins we of recently, financial $X done flow, a the super thing we're operating This now gross is The acquisition, goal We've lot have can about, this reach outstanding at and cash which excited to our over right? this XX%. performance a us with business to We delivered level. of is expanded sustainable profitability. you strong hear

where orders how when by You And the we that's about $XX average sure. did guys talked we versus to, trailing we above a million we can a so John revenue been gross asking of than what And do what XX% this for and but right? get we at and have in level grew we've higher -- look what this level about ago. margins is go? over I well, can at revenue energy Canada, orders, new new has in quarter been. the year power with systems million we mentioned $XXX How at

the to call, our see the place So quarter path us NWL. next we business excited third now in position million We're we'll quarters. to And few NWL. $XXX next our the going ended it's in the in have the in past in million does And How the adding And business. Wind, think base And a backlog our is head to business really and addition of and where we super with us military business, great of you're $XXX X-megawatt perform? the in we of that the which to the with build total We should give to continue without addition I industrial which strong diversifying the few growth, going order Inox a business we That's quarters XX-month particularly order strong in it scale doing? that about of how is book and sectors. business from going backlog. continue. where business add? How continue the NWL that NWL and time added -- to ECS our changes has do the is been

a we guys able this So deliver. the and to quarter's everybody. be talk that built that business about very continue to time about I'm you Thanks, great to in we've results excited to

Operator

you conference Thank attending has The today's concluded. now for presentation.

disconnect. now may You

American Superconductor (AMSC) 7 Aug 242025 Q1 Earnings call transcript