Clever Leaves Holdings Inc.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Cleverleaf's financial results for the second quarter ended June 30th, 2023. Joining us today are Cleverleaf's CEO, Andres Fajardo, and the company's CFO, Hank Haag. Before I introduce Andres, I remind you that during today's call, including the question and answer session, statements that are not historical facts, including any projections or guidance, statements regarding future events or future financial performance, or statements of intent or belief, are forward-looking statements and are covered by the safe harbor disclaimers contained in today's press release and the company's public filings with the SEC. Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. Specifically, please refer to the company's Form 10-Q for the quarter ended June 30, 2023, which was filed prior to this call, as well as other filings made by Cleverleaf with the SEC from time to time. These filings identify factors that could cause results to differ materially from those forward-looking statements. Please also note that during this call, management will be disclosing adjusted EBITDA, adjusted gross profit, and adjusted gross margin. These are non-GAAP financial measures as defined by SEC Regulation G. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures and a statement disclosing the reasons why company management believes that adjusted EBITDA, adjusted gross profit, and adjusted gross margin provide useful information to investors regarding the company's financial condition and results of operations are included in today's press release that is posted on the company's website. With that, I will turn the call over to Andres.

Thank you, Jackie, and good afternoon, everyone. Our second quarter performance reflects the commercial progress we have made in our core cannabinoid markets. along with our meaningfully improved cost and capital structure.

We generated 151% year-over-year growth in our cannabinoid revenues as we supported strong extract demand and continued ramping our Colombian flower shipments.