Kurt Levens - Chief Executive Officer

Jack Yun - Chief Financial Officer

Good morning. And welcome to the Third Quarter 2024 Presentation. I'm Kurt Levens, CEO, and I'm here with Jack Yun, our CFO. And we're going to be taking roughly the next 45 minutes to an hour to present our results and also answer questions. We're going to be discussing Moses Lake facility update, compute operations update, briefly silane for silicon anode material, financial highlights and some market updates.

In the quarter, we had revenues of $33.8 million. Our EBITDA loss was $42.7 million. This was primarily due to startup costs associated with Moses Lake, as well as weaker operational results from our Butte facility. Our cash balance at the end of the quarter was $23.6 million.

Additionally, we had announced that our qualification of Moses Lake polysilicon was delayed. And as a result of that, we turned down our operation at our Moses Lake facility in order to conserve liquidity. Additionally, silane shipments were affected very much by the global PV slowdown, particularly around utilization and also due to trade concerns.

So I'd like to take you through a time line, which is going to kind of lead us up to where we are right now. If you recall, we started up nearly one year ago with the operations part with the FBR part of the operation.

It took some time to clean up the system as we work through it. We thought and worked through a lot of different issues, which is typical for a continuous process that is all full of interconnected and related systems. We got to a point where we had most of the specifications