Aziyo Biologics, Inc.

Good day and thank you for standing by. Welcome to the Azio Biologics second quarter 2022 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 1 on your telephone. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Lee Salvo, Investor Relations. Please go ahead.

Thank you, and thank you all for participating in today's call. Earlier today, ASEO released financial results for the quarter ended June 30, 2022. A copy of the press release is available on the company's website. Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that do not relate to matters of historical fact or relate to expectations or predictions of future events, results, or performance are forward-looking statements. All forward-looking statements, including without limitation, those relating to our operating trends, and future financial performance are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the risk factor section of our public filings with the SEC, including ASEO's annual report on Form 10-K for the year ended December 31, 2021, as such factors may be updated from time to time in ASEO's other filings with the SEC, including ASEO's quarterly report on Form 10-Q for the quarterly period ended June 30, 2022, to be filed with the SEC, accessible on the SEC's website at www.sec.gov. This conference call contains time-sensitive information and is accurate only as of the live broadcast today, August 11, 2022. A ZEO biologic explains any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. Also during this presentation, we refer to gross margin, excluding intangible asset amortization, which is a non-GAAP financial measure. Reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure is available in companies' earnings release for the second fiscal quarter ended June 30, 2022, which is accessible on the SEC's website and posted on the investor page of ASEO's website at www.aseo.com. And with that, I will turn the call over to ASEO's Executive Chairman, Kevin Reichen.

Okay. Thank you, Leigh. It's a pleasure to be with you all today. I just want to take a moment and introduce Randy because we announced a couple of days ago that Randy has assumed the role of permanent CEO. Just a quick background. Randy, you know, he's a proven leader. I think you'll hear today that he's a very passionate guy, subject matter expert on regenerative medicine with a background having been CEO at Osiris, also president and CEO of the California Institute of Regenerative Medicine. Randy's created significant shareholder value over his career, great public company experience, so we feel very fortunate to have Randy on board. Moreover, Randy has a history of the company. He's one of the co-founders, and he's been on our board. But of course, being CEO is a different role, and you'll hear from him today about some of his excitement and vision for the future. I'm really pleased to build on our longstanding partnership. I've stepped up to being the executive chair. And we've spent, I think it's fair to say, a fair amount of time, probably every day we've been talking over the last six weeks. I also want you to know on a personal level, I really appreciate how Randy's literally been on the road every week for the last six weeks. And you'll hear some of his findings over that time. So he has really hit the ground running and immersed himself in this job even while he was interim CEO. We have a terrific base business here at Ezeo, but we have felt that we could build a more compelling vision for creating significant shareholder value on top of the space business or leveraging the space business. And that's what I think you'll hear today. But let me make one last point in my capacity as a shareholder. So talking to the other shareholders out there, you know, High Cape, our fund, is one of the significant shareholders in Azeo. We've been involved in this company from the beginning. And we determined to build value, but we're going to do that within the constraints we operate in. So I want to be really clear that the debt refinancing we announced yesterday is a major step forward to strengthen our balance sheet. We have some other things in the works, but we are not going to do any kind of dilutive offering at this kind of share price that we're at right now. And you'll hear within Randy's plans how we're going to work within the constraints we have and the resources that we have. So that's some introductory comments to set the stage. I'm going to pass the call on to Matt Ferguson, our CFO, who's going to give you some of the financial highlights before we hear from Randy.