Let me set the stage. First, operational: we cut our workforce roughly a third over seven months — 13% in November 2024, 22% in June 2025 — per our filing, amid slower-than-expected market investment. Second, financial: we fund the gap largely via ATM share sales, ~10.9M shares this quarter for ~$100M net, ~4.1M post-quarter for ~$53M. Third, the path: we don't reach positive adjusted EBITDA until Torrington runs at 100 MW annualized; we're below that today. Expansion to 500 MW is gated on contracted backlog — we won't build ahead of the market. Proof over promise.