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Aimia Inc.
5/15/2024
Good morning, ladies and gentlemen, and welcome to the AMIA Inc. First Quarter 2024 Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star 0 for the operator. This call is being recorded on Wednesday, May 15, 2024. I would now like to turn the conference over to Joe Racanelli. Please go ahead.
Thank you, Julie, and good morning, everyone. With me today are AMIA's Executive Chairman, Tom Fink, and our Chief Financial Officer, Steve Leonard. Before we begin, I'd like to point out a couple of items. First, we issued our financial results for the first quarter earlier this morning, and all our materials, including our news release, MD&A, financial statements, are available from our website as well as on CDAR+. We will be using a presentation today, and for those listening to our discussion by phone, a copy is available from the IR section of our website. I'd like to point out that some of the statements that we're making during today's call may constitute forward-looking information, and future results may differ materially from what we discussed. Please refer to the risks and uncertainties that may affect our future performance referenced in our presentation and MD&A. In addition, we will be making note of GAAP and non-GAAP financial measures. Reconciliation is provided in the appendix of our presentation. And following today's presentation, for those who have follow-up questions, please reach out to me, and we'll be able to provide any clarification and set up follow-on discussions. With that, I'd like to turn the call now over to Tom Fink. Please go ahead, Tom.
Thank you, Joe. Good morning, everyone, and thank you for joining us today. Since the start of the 2024 year, we have been busy on a number of fronts, primarily focused on creating value and strengthening our performance. Our results for the first quarter provide a clear indication of the progress we have made. Our gains in Q1 were largely driven by the strong performances of our core business, Bozzetto & Cortland, who each experienced increased customer demand and improved market conditions. Bosetta's organic growth was also complemented by the solid revenue and adjusted EBITDA contributions from its tuck-in acquisition of Starchem, which closed in early January. Another important development in Q1 was the monetization of more than $11 million worth of shares of capital A stock. Combined, these developments have created a momentum that we plan to sustain through 2024. This progress coupled with the feedback from investors, paved the way to formalize a new strategic focus, one that we believe will strengthen our ability to create increased value for shareholders. I will expand our new strategic focus in my closing remarks, and will now ask Steve to review our financial results in more detail.
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