Good morning, and welcome to Local Bounti's Third Quarter 2025 Earnings Conference Call. At this time, I'd like to turn the conference call over to Jeff Sonnek, Investor Relations at ICR. Please go ahead.

Thank you, and good morning. Today's presentation will be hosted by Local Bounti's Executive Chairman, Craig Hurlbert; and President, Chief Executive Officer and Chief Financial Officer, Kathleen Valiasek. The comments made during today's call contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are considered forward-looking statements. These statements are based on management's current expectations and beliefs as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results discussed in the forward-looking statements. Some of these risks and uncertainties are identified and discussed in the company's filings with the SEC. We'll also refer to certain non-GAAP financial measures today. Please refer to the press release, which can be found on our Investor Relations website investors.localbounti.com, for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures. And with that, I'd now like to turn the call over to Craig. Go ahead.

Thank you, Jeff, and good morning, everyone. I want to start by expressing my gratitude to the entire Local Bounti team for their exceptional execution this quarter. What makes Q3 particularly noteworthy isn't just our operational achievements, it's the fundamental shift we're seeing in how the market views controlled environment agriculture. We believe we have reached an inflection point and Local Bounti is positioned at the center of it. Three years ago, conversations with major retailers were exploratory and measured; today, they're active strategic discussions about long-term supply partnerships. Retailers who once questioned CEA viability are now designing supply chains that assume its permanent infrastructure. They're actively looking for the right partners who can deliver consistent quality and innovation at scale. This shift from if to how much and how fast, represents the market validation we've been charging towards. And it's why we're being deliberate about the partnership structures that create long-term value, not just near-term revenue. And with that, I will now turn the call over to Kathy.

Thank you, Craig, and good morning, everyone. Third quarter results demonstrate our operational momentum is building as planned. We delivered 19% year-over-year revenue growth, improved our adjusted EBITDA loss year-over-year and completed critical facility upgrades. Our Texas automated harvesting system is now operational and the Georgia Tower upgrades are driving further yield improvements. What makes this quarter particularly significant is how our execution is converging with the market shift, Craig just described. Let me start with Texas because completing this transition successfully was our critical Q3 milestone. We finished the facility reconfiguration in late July and reached full harvestable capacity in early August, essentially doubling the productive output of that facility. The automated harvester is now fully operational and the efficiency gains are quantifiable and significant. From July to October, we've increased labor productivity by approximately 19%, measuring pounds [ produced ] per labor hour while simultaneously reducing our direct labor cost per pound by approximately 17%. These improvements demonstrate the scalability of the company's Stack & Flow Technology as volume increases. This operating leverage will be especially impactful as the Texas facility is now sold out on a run rate basis, which will help us accelerate toward our broader goal of enhancing our consolidated cash flow. On yield improvements and cost optimization, we're seeing tangible results across the network. We completed tower upgrades in Texas and Washington in early September. These upgrades are designed to achieve better climate control through the stack phase to enhance production efficiency and increase yield capacity across our Stack & Flow Technology platform. We expect to complete optimization in the fourth quarter of 2025 and anticipate yield increases of more than 10% to follow. These are not incremental tweaks. They're structural improvements to our production efficiency that will continue ramping as the systems optimize.…

Ladies and gentlemen, that concludes today's conference call. We thank you for attending. You may now disconnect your lines.