cbdMD, Inc.

Good afternoon. Welcome to the CBDMD Inc. December 31, 2024, first fiscal quarter of 2025 earnings call and update. This afternoon, the company issued a press release that provided an overview of its first quarter results, which followed the filing of its quarterly report on Form 10-Q. Today's conference call is being recorded and will be available online following along with our earnings press release covering our financial results and non-GAAP presentation at cbdmd.com in accordance with CBDMD's retention policies. All participants on this call will be in a listen-only mode. The call will be followed by a question-and-answer session. At this time, I'd like to turn the conference over to Brad Whitford, the company's Chief Accounting Officer. Brad?

Thank you, Galien, and thank you all for joining CBDMD's December 31st, 2024, first quarter of fiscal 2025 earnings call-in update. On the call today, we also have Ronan Kennedy, our CEO and chief financial officer. We'd like to remind everyone that various remarks about future expectations, plans, and prospects constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. CBDMD cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from those indicated, including risks described in the company's annual report on Form 10-K for the fiscal year ended September 30, 2024, and our other filings with the SEC, all of which can be reviewed on the company's website at www.cbdmd.com or on the SEC's website at www.sec.gov. Any forward-looking statements made on this conference call speak only as of today's date, Thursday, February 13th, 2025, and CBDMD does not intend to update any of these forward-looking statements to reflect events or circumstances that would occur after today's date, except as may be required by federal securities laws. With that, I'd like to turn the call over to Ronan.

Good afternoon, everyone, and thank you for joining us today. On our last call, we laid out two corporate priorities. achieving profitability, and resolving our capital structure and listing challenges. I'm thrilled to be speaking with you today, not only to report on a historic quarter, but to highlight the stronger foundation we built and the exciting opportunities ahead. This year marks CBDMD's operating subsidiary's 10th anniversary, and our progress over the last quarter underscores a significant turnaround moment for the company. We delivered on our commitment during the first fiscal quarter. Revenue rebounded and grew sequentially over the fourth quarter. Gross margins held strong, demonstrating the durability of our model. SG&A costs improved, reflecting disciplined expense management. Most importantly, we generated positive net income and, for the first time in company history, achieved a positive non-gap adjusted EBITDA. This is a major milestone for CBDMD, and I want to recognize our entire team for the resilience, hard work, and focus over the last year in making this happen. Our focus remains on optimizing the business, strengthening our team, and enhancing our customer experience. We've been deliberate in ensuring we have the right talent in place. We've added key hires to our sales organization and marketing teams, bringing in deep expertise across CBD, hemp-derived beverages, and other consumer products. These moves position us well to accelerate growth. This quarter, we launched new and enhanced formulations on our sleep and calm products, improving both efficacy and taste. We believe innovation is a key driver of future revenue growth, and our pipeline to upgrade some of our products has us excited for what's ahead. Our Oasis Social Tonic line has been well-received, confirming our belief in the enormous potential of this category. We are in final contract negotiations with multiple distributors, and we expect to make key announcements in the coming weeks. Additionally, we already have national retail ready to take the product as soon as distribution is secure. This is a huge growth opportunity, and we're committed to establishing Oasis as a major player in the fast-emerging hemp-derived beverage sector. We are entering 2025 with momentum, financial discipline, and a clear roadmap for sustainable profitability. This quarter is a foundation, not a peak, and we are focused on scaling our success to deliver a profitable full year in 2025. With that, I'll turn the call over to Brad, who will walk you through our financials.