InfuSystems Holdings, Inc.

Good morning and welcome to the INFUSE System Holdings, Inc. Report's second quarter fiscal year 2026 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on your telephone keypad. To withdraw your question, please press star, then 2. Please note this event is being recorded. I would now like to turn the conference over to Glenn Axelrod, Investor Relations. Please go ahead.

Good morning, and thank you for joining us today to review InfuSystems Second Quarter 2026, Financial Results ended June 30th, 2026. With us today on the call are Carrie Lachance, Chief Executive Officer, and Barry Steele, Chief Financial 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 INFUSystems during this conference call constitute forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Except for statements of historical fact, this conference call may contain forward-looking statements that involve risks and uncertainties, some of which are detailed under the risk factors in the documents filed by the company with the Securities and Exchange Commission, including the annual report on Form 10-K for the year ended December 31st, 2025. 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. InfuSystems 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 Carrie Lachance, Chief Executive Officer of InfuSystems. Carrie.

Thank you, Glenn, and good morning, everyone. Welcome to In-Fu Systems' second quarter fiscal year 2026 earnings call. Thank you all for joining us today. I will provide a second quarter overview, highlighting our progress in the quarter, then Barry will provide a detailed summary of our financial results. I will then come back with some closing comments before opening the line to questions. During the 2026 second quarter, we made measurable progress in our efforts to drive revenue growth and to improve our operational capacity and efficiency to make the revenue growth more profitable. This morning, we reported second quarter of 2026 revenue of $36.9 million. This represented a new quarterly record and an increase from the prior year of just over $1 million or 2.6% on a GAAP basis and a 7.5% increase on a non-GAAP pro forma basis. On a GAAP basis, the increase was achieved despite the impact of restructuring of our biomedical services contract with GE Healthcare, which reduced revenue by $1.6 million during the second quarter and is the basis for the adjustment to providing pro forma revenue growth. As previously mentioned, this restructuring improves our earnings because it allowed for an even larger reduction in direct contract expenses. as a result of the increased revenue and the benefits of the GE restructuring and other initiatives. We generated approximately $8.6 million in adjusted EBITDA this quarter, representing a 7.6% increase over the prior year and resulting in an increase of more than 1% in our EBITDA margin, which came in at 23.4%. These results were driven by both continued steady growth in our core oncology business and accelerating growth in wound care. Quarterly oncology revenue surpassed the $20 million mark for the first time during the second quarter and grew 6.4% over the prior year, further extending our large share of the outpatient oncology ambulatory infusion market where we serve 18 of the top 20 US hospital systems. Within wound care, Compression devices for lymphedema patients represent the main growth driver. In total, wound care net revenue grew by $2.1 million or 154% year over year during the second quarter. Compression devices represented nearly 90% of that increase. As the newest offering in our portfolio added less than a year ago during the last year's third quarter, We are pleased with the growth and partnerships that we have in place today. We are now working with two manufacturers, which bring us a breadth of product offerings, covering both pneumatic compression devices, or PCDs, which use sequential compression technology, and adjustable compression wraps, which feature Velcro closures that are easier for patients with limited mobility as compared to traditional products, such as compression stockings. This new product line is expected to continue to drive near-term growth with these existing suppliers while also opening up potential opportunities by adding additional manufacturing relationships in the future. We believe our capabilities and payer contract portfolio make us an attractive DME partner to current and potential future manufacturing partners. Less noticeable in the current period results is continued progress on our new Enterprise Resource Planning Application, or ERP, and other business applications that we've been updating. During our first quarter call, we reported that our new ERP was launched successfully and that we were continuing to work to stabilize certain areas of the system. During the second quarter, we made significant progress towards that effort and, as a result, brought down the spending rate. while refinement and enhancement work continues, we see additional opportunities and are laser focused on using the new application to drive improved capacity and efficiencies in the many processes that operate in that application. As we look towards the second half of the year and after adjusting for the expected $7.1 million lower annual revenue related to the GE healthcare contract restructuring, on a pro forma basis, We continue to anticipate annual revenue growth in a range of 6% to 8%. Additionally, we continue to anticipate that our adjusted EBITDA margin will remain in the low to mid 20% range, consistent with our longer-term target of a 22% to 25% margin. This is inclusive of the impact of costs related to our information technology systems upgrades. We are excited about the opportunities ahead and will look to update you again in future quarters. Now I'll turn it over to Barry for a detailed review of the second quarter financial results. Barry?