I hope this message finds you well and in high spirits. As your Chief Operating Officer (COO), I am proud to reflect on the incredible progress and achievements we’ve accomplished together over the past year. Your unwavering commitment and relentless pursuit of excellence have not only upheld our values but also propelled us towards new heights. Reflecting on this past year, I am delighted to present an overview of THOR’s progress, challenges and strategies moving forward. Our financial performance remains robust, driven by a deliberate focus on diversification. We expanded our portfolio and entered new markets, ensuring a balanced revenue stream. This strategic approach has not only enhanced our stability but also positioned us to capitalize on emerging opportunities. Our financial resilience in a fluctuating market is a testament to our strategic planning. By diversifying, we mitigate risks associated with dependence on a single market. This diversified approach is pivotal in our future growth, enabling us to navigate uncertainties and sustain long-term success.

In our dynamic field of Department of Defense (DoD) contracting, we continuously face evolving challenges that test our resilience and ingenuity. Despite these challenges, we have consistently demonstrated our capability to adapt, innovate and deliver outstanding results. Our operational efficiency has been a cornerstone of THOR’s success. We have automated key processes, including Monthly Status Reports (MSR), Human Resources (HR), and recruiting, which has significantly reduced manual workloads and improved accuracy. We streamlined our business development and pipeline tracking efforts, leading to a more organized and efficient workflow. These initiatives have increased productivity and enabled us to focus on developing new business relationships in untapped markets. Our emphasis on efficiency has also led to cost savings, further bolstering our financial health. Continuous improvement in our operations is essential for maintaining our competitive edge. We will keep innovating our processes to ensure sustained operational excellence and drive future growth.

One of our core strengths lies in our ability to foresee changes and respond proactively. This proactive mindset has enabled us to maintain our reputation as a reliable and efficient partner within the defense contracting community. Innovation is at the core of THOR’s business strategy, and investments in this area are already bearing fruit. We have introduced new software tools that are positioning us for long-term success. These tools enhance our operational capabilities and enable us to stay ahead of industry trends. Our commitment to innovation ensures that we remain competitive and continue to deliver value to our clients and stakeholders. Moreover, these advancements are enabling better decision-making and more agile responses to market changes. As we look ahead, sustained investment in technology will be crucial. Innovation will remain a driving force behind our growth and industry leadership, empowering us to adapt and thrive in an ever-evolving landscape.

In the coming months, we will be embarking on several new and exciting projects that will require the same level of dedication and excellence that has become synonymous with Team THOR. Employee engagement is another critical area of focus for THOR. We are committed to fostering a supportive and inclusive work environment where every employee feels valued. This commitment is reflected in our efforts to prioritize employee engagement and well-being through various initiatives. By creating a positive workplace culture, we are not only enhancing job satisfaction but also driving higher levels of productivity and innovation. Our initiatives include regular feedback mechanisms, professional development opportunities, and inclusive policies that ensure everyone feels a part of the company’s success. These efforts ensure that our team is motivated and aligned with our company’s goals. An engaged workforce is essential for sustaining our operational success and achieving our strategic objectives, fostering a sense of community and shared purpose.

THOR’s expansion efforts continue to gain momentum. We are proud to serve as a Coast Guard Prime Contractor for Ship Design Team (SDT) and as a subcontractor for Fincantieri Marinette Marine (FMM), supporting Special Operations Command’s (SOCOM) Combatant Craft Heavy (CCH). We are a subcontractor for Emprise, providing Diesel Maintenance Strategy (DMS) support for Naval Surface Warfare Center, Philadelphia Division (NSWCPD). Our work extends internationally, with Outside the Continental US (OCONUS) projects in Egypt, and the Philippines including Frigates (FFG) and Patrol Craft (PC) Port Engineers, and we serve as a Naval Supply Systems Command (NAVSUP) Depot Repair Point for Landing Craft, Air Cushion (LCAC) Auxiliary Power Unit (APU) Fuel Oil (FO) Heaters. These projects underscore our capabilities and commitment to delivering high-quality services across various sectors. As we expand, we remain focused on maintaining the highest standards of excellence and integrity. Our global footprint is a testament to our expertise and dedication. We are confident that our strategic initiatives and unwavering commitment to excellence will continue to drive our success in the years to come.

I encourage each of you to stay focused on our mission and values, to support one another, and to take pride in the critical work we do. Remember that our success is built on a foundation of teamwork, integrity, and shared commitment to excellence. Every role, every task, and every effort contribute to our overarching mission of providing superior service to our clients and making a significant impact within the defense sector. Thank you for your hard work, dedication, and the exceptional contributions you make every day. Together, we are stronger, more innovative, and better equipped to tackle the challenges ahead. Let us continue to push boundaries, set new standards, and achieve greatness as a united Team THOR.

Dan Henderson