InfuSystems Holdings, Inc.

Good day, and welcome to the IMFU System third quarter of 2024 Financial Results Conference Call. All participants will be in a listen-only mode. And should you need any assistance on today's call, please signal a conference specialist by pressing the star key followed by zero. After the presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. And to withdraw a question, please press star then two. Also, please be aware that today's call is being recorded. I would now like to turn the call over to Joe Dorme, Managing Partner. Please go ahead.

Good morning, and thanks for joining us today to review InfuSystems' third quarter 2024 financial results, ended September 30, 2024. With us today on the call are Rich DiIorio, Chief Executive Officer, Barry Steele, Chief Financial Officer, and Carrie LeChance, President and Chief Operating Officer. After the conclusion of today's prepared remarks, we will open the call for questions. Before we begin with prepared remarks, I would like to remind everyone, certain statements made by the management team of InfuSystem during this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Except for the statements of historical fact, this conference call may contain forward-looking statements that involve risks and uncertainties, some of which are detailed under risk factors and documents filed by the company with the Securities and Exchange Commission, including the annual report on Form 10-K for the year ended December 31, 2023. Forward-looking statements speak only as of the date the statements were made. The company can give no assurance that such forward-looking statements will prove to be correct. InfuSystem does not undertake and specifically disclaims any obligation to update any forward-looking statements except as required by law. Now I'd like to turn the call over to Rich Diorio, Chief Executive Officer of InfuSystem.

Rich? Thank you, Joe, and good morning, everyone. Welcome to InfuSystem's third quarter 2024 earnings call. Thank you all for joining us today. I'll get things started this morning with an overview of the recently completed quarter. Next, Barry will provide more detail on our third quarter financial results, and then Carrie and I will discuss our focus moving forward and provide additional color around some key developments in the business. So kicking things off, I hope everyone agrees that Infosystem delivered a very good third quarter. Revenue, profitability, and cash flow were all up significantly. The third quarter delivered strong sequential growth with revenue above $35 million for the first time ever. There was strong year-over-year growth with revenue up 11% from the third quarter of 2023. We delivered improved profitability with adjusted EBITDA margins taking another big step up to 22.3%. And we had very strong cash flow in the quarter, allowing us to pay down debt by $6.4 million and repurchase $700,000 of stock under our buyback program. Additionally, over the last few months, we have signed and launched three new initiatives, each of which has the ability to add to our growth heading into the next year. The first of these, announced in our press release in August, is the new distribution agreement with Smith and Nephew relating to negative pressure wound therapy. The second initiative, which we announced in September, is the exclusive North American distribution agreement entered into by our JV with Sonara MedTech relating to chemo mouthpiece. And the third, which Kerry will speak to in a few minutes, is the onsite biomedical services agreement entered into with Dignitana relating to their scalp cooling system, which is used by oncology patients to reduce hair loss related to chemotherapy treatments. These new agreements are excellent examples of how we're expanding and diversifying into systems business. Generally, this involves taking a device agnostic and patient-centric approach. Our mission is to increase access to quality healthcare by wrapping our services around the advanced medical devices and products of our partners. We are the safe, smart, and trusted device solutions company, solving problems throughout the treatment cycle, lowering costs, and improving results for manufacturers, healthcare providers, patients, and payers. And now I'll turn it over to Barry to walk us through the third quarter results.