With the first quarter of 2026 now behind us, I am proud of what this team has accomplished and grateful for the partnership that makes it possible. We entered the year with clear priorities. Stand up our commercial door business. Grow the Edge door replacement program. Continue investing in our people and our processes. The first quarter delivered on all three.

I am pleased to share that we exceeded our plan for both revenue and earnings in Q1. Backlog remains strong heading into Q2, which gives us confidence in what lies ahead and speaks to the trust you continue to place in us. For a company still writing its early chapters, that kind of start to the year is a testament to the tenacity that our team brings every single day.

The biggest story of the quarter is the launch of our commercial door business. The first 14-foot commercial doors came off the line at our Georgetown, Kentucky plant, and we shipped our first commercial order in March. A major national customer placed an initial order that will expand as their projects ramp up. This opens an entirely new market for SteelBlue and gives our customers more reasons to consolidate their door needs with a single partner they trust.

The Edge program also moved from soft launch to active execution during the first quarter. Our first replacement projects shipped in March, and the pipeline continues to grow month over month. For facility owners with aging doors, Edge now offers a real alternative, and the early feedback from those first projects has been everything we hoped for. We built this program for operators who need a partner who will show up, execute, and stand behind the work.

None of this happens without continued investment in the people and the systems behind the scenes. Throughout the quarter, the team has stayed focused on refining the processes that allow us to deliver with consistency. We are a better-run company today than we were 90 days ago, and we will be better still 90 days from now. That kind of disciplined improvement does not always make headlines, but it is the foundation every commitment we make to you rests on.

Thank you to our customers, our vendor partners, and the SteelBlue team. Every quarter we get to serve you is a quarter we do not take for granted. We know that you have choices, and we are committed to earning your business every single day.

As always, we thank you for your continued partnership, support, and interest in SteelBlue. Building Tomorrow, Today…We Win Together!

Sincerely,

Rich Saginaw
CEO & President