Acutus Medical, Inc.

Thank you for standing by, and welcome to the Accurates Medical, Inc. First Quarter 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. After the presentation, we will conduct a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Carolyn Corner.

Thank you, Operator. Welcome to ACUTUS's first quarter 2022 earnings call. Joining me on today's call are Scott Henneken, Chairman of ACUTUS's Board of Directors, and David Roman, Interim Chief Executive Officer and Chief Financial Officer. This call will include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made on this call that do not relate to matters of historical fact should be considered forward-looking statements. Factors that may cause results to differ from those forward-looking statements are discussed under the forward-looking statement section in the press release attached as an exhibit to ACUTUS's Form 8-K filed with the SEC today and are also discussed in more detail under the risk factors section in ACUTUS's most recent filing for the SEC, including the risk factors described in ACUTUS's Form 10-K. Any forward-looking statements provided during this call, including projections for future performance, are based on management's expectations as of today. ACUTUS undertakes no obligation to update these statements except as required by applicable law. ACUTUS's press release with first quarter 2022 results is also available on the ACUTUS website, www.acutusmedical.com, under the Investor section, and includes additional details about ACUTUS's financial results. The ACUTUS website also has ACUTUS's SEC filings, which you are encouraged to review. A recording of today's call will be available on the ACUTUS website by 5 p.m. Pacific time. Now I'd like to turn the call over to Scott.

Thank you, Carolyn, and good afternoon to everyone joining us today. I am pleased to be joining the call today to share some important updates with you. I will discuss the management updates announced in conjunction with our earnings release, as well as provide some perspective on our ongoing strategic review of the business. David will cover first quarter 2022 results and key clinical and pipeline developments as well as provide further details on recent strategic transactions, including the refinancing of our debt and the definitive agreement to sell our Left Heart business portfolio to Medtronic. Starting with our CEO transition. After five years leading Acutis, Vince Burgess informed the board of his intention to pursue other opportunities outside of the company. Vince has a long history with Acutis, having helped facilitate the company's Series B financing back in 2013, and has been responsible for building the portfolio and relationships that define the company today. At this stage in Acutis' lifecycle, Vince, along with the board, decided that the company's needs were evolving, necessitating a different leadership profile. The portfolio and innovation we offer the market will always be the foundation of the company, and Vince played a major role in building this foundation. We are grateful for and thank Vince for his contributions to the organization and appreciate his continued engagement as he transitions to a consulting role for a limited time. The board has initiated an active search for a full-time replacement. As we execute the search, we have asked David Roman to serve in the capacity of interim CEO. David joined Acutis about a year ago as our CFO and has been instrumental in leading last summer's secondary offerings and supporting the company through its restructuring earlier this year, as well as the planned sale of our Left Heart Access portfolio and debt financing. David will continue in his role as CFO with the full support of the board. We appreciate David's commitment to the organization and are confident that we can execute our priorities during this transition period. Before turning the call over to David, I will briefly update you on the strategic review that the company announced on its earnings call in March. Over the last several months, management has been working with the board to challenge and rethink the company's strategy and establish a strong platform for long-term growth. This includes ensuring we are maximizing the value proposition for our customers with our products and their clinical utility today and in the future, sharpening our commercial focus around utilization, prioritizing our R&D and clinical investment in mapping and therapy, and improving operational performance through managing cash burn, reducing operating expenses, and driving positive inflection in gross margins. And then lastly, capitalizing the business to realize our strategy. There's a very significant unmet need in the rapidly growing EP AFib market. especially in the underserved complex patient population where ACUTUS is uniquely positioned versus the competition. Our focus on this segment of the market will enable us to bring important developments and improvements to the physician and patients we serve through enhancements to our mapping platform and integrating therapy, the introduction of therapy in the U.S. and ultimately PFA globally. We believe this is an exciting opportunity and we are positioning the company for category leadership. Management and the board remain actively engaged in all of these strategic initiatives. There is more work to do, and management and the board are pleased with the progress we have made so far as demonstrated by our encouraging start to 2022 in our financial results, the advancement of major R&D and clinical programs, execution on debt financing, and the left-hand access sales. We are all passionate about the value we can bring to our stakeholders, including physician, patient, business development partners, employees, and shareholders. I expect that we will have further updates in the coming months and will provide details accordingly. I'd be happy to dive into more details during the Q&A and will now turn the call over to David.