Cumberland Pharmaceuticals Inc.

Good afternoon and welcome to Cumberland Pharmaceutical 2025 Financial Report and Company Update. This call is being recorded at the company's request and will be archived on its website for one year from today's date. I'd like to turn it over to Emily Kent from Dalton Agency who handles Cumberland's communications. Emily, please proceed.

Thank you, everyone, and thank you for joining us today. This afternoon, Cumberland issued a press release announcing its annual and fourth quarter financial results. The release also provided an overall company update, including key developments during the year. The release, which includes the related financial tables, can be found on the company's website at www.cumberlandpharma.com. During today's call, management will share an overview of those financial results. and a company update, including a recent development and a discussion of Cumberland's brands, pipeline, and partners. Participating in today's call are A.J. Kazemi, Cumberland's Chief Executive Officer, Todd Anthony, Vice President, Organizational Development, and John Hamm, Chief Financial Officer. Please keep in mind that their discussions may include some forward-looking statements as defined in the Private Security Reform Act. Those statements reflect the company's current views and expectations concerning future events and may involve risks as well as uncertainties. There are many factors that could affect Cumberland's future results, including natural disasters, economic downturns, international conflicts, trade restrictions, public health epidemics, and others that are beyond the company's control. Those issues are described under the caption risk factors in Cumberland's annual report on Form 10-K and any subsequent updates filed with the SEC. Any forward-looking statements made during today's call are qualified by those risk factors. Despite the company's best efforts, actual results may differ materially from expectations. So information shared on this call should be considered current as of today only. Also, please remember that the company isn't responsible for updating any forward-looking statements, whether as a result of new information or due to future developments. During today's call, there will be references to several of Cumberland's marketed brands. Full prescribing and safety information for each brand is included on the individual product website, and you can find links to those sites on the corporate site at www.cumberlandpharma.com. The company will also be providing some non-GAAP financial measures with respect to its performance. An explanation and reconciliation to GAAP measures can be found in the tables of the earnings release that I noted was issued earlier this afternoon. If you have any questions, please hold them until the end of the call, at which point we will be happy to answer them. Management is also prepared to hold a follow-up conversation with shareholders after the call, if you prefer. With that introduction, I'll turn the call over to Cumberland's Chief Executive Officer, A.J. Kazemi.

Thank you, Emily, and good afternoon, everyone. We do appreciate you joining us today. As Emily mentioned, we'll provide a review of both our fourth quarter and our full-year financial performance for 2025. We'll also share an overall company update and discuss several recent developments that continue to underscore our optimism about the company's future. Well, I'd like to start by stating that 2025 was an outstanding year for Cumberland. We announced breakthrough clinical study results, delivered strong financial performance, expanded our global reach, and added to our commercial portfolio. highlighting a year of consistent progress for our company. Most importantly, we remain focused on our mission of delivering unique products that improve the quality of patient care. So let's begin with a review of our financial performance. Our portfolio of FDA-approved brands delivered combined revenues of $13.7 million during the fourth quarter of 2025, representing a 31% increase over the prior year period. For the full year, revenues totaled $44.5 million of 18% over 2024, and we therefore achieved our goal of double digit revenue growth for the year. This revenue growth resulted in a turnaround in adjusted earnings, which improved by over $2 million to $1.7 million, or 11 cents a share. In addition, cash flow from operations improved by $5.5 million and we're just under $5 million for the full year. This financial performance reflects strong execution across our commercial organization with growing demand for our products. It was led by dramatic growth for Vibative and Sancuso, along with the initial sales of our newest brand, Elysia, which we began shipping in the fourth quarter. We also strengthened our balance sheet during the year. We increased shareholder equity and reduced the balance on our line of credit by more than $10 million, further improving our financial position. And beyond our financial performance, we made significant progress expanding our global presence. In 2025, Vibative received regulatory approval in China, the world's second largest pharmaceutical market, creating a major new opportunity for the brand. Also in 2025, Vibative was successfully launched in Saudi Arabia, resulting in initial sales in the first patients receiving treatment with the product in that country. In addition, our ibuprofen injection product received regulatory approval in Mexico, which will enable our expansion into another important international market. Turning now to our business development efforts, we continue to execute on our strategy of acquiring rights to differentiated branded pharmaceuticals. We added Talicia, an FDA-approved treatment for Helicobacter pylori infections, expanding our presence in gastrointestinal care. Tilesia complements our existing portfolio and represents an excellent strategic fit, leveraging our established commercial infrastructure. Meanwhile, the Centers for Medicare and Medicaid Services, or CMS, issued a J-code for Caldilore. This important reimbursement milestone enhances product access, simplifies hospital billing, and further supports Caldilore's continued growth and its role as a standard of care for the treatment of pain and fever. During 2025, we also continued to advance our clinical programs, reinforcing our commitment to developing new therapies for patients with serious and underserved medical needs. Significantly, we continued to advance our clinical pipeline in 2025, highlighted by breakthrough results from our Fight DMD clinical study. That trial evaluated our our Fitraban product candidate in patients with cardiomyopathy associated with Duchenne muscular dystrophy, which is the leading cause of death in those patients. The top-line findings from that study were selected for a late-breaking presentation at the Muscular Dystrophy Association's Clinical and Scientific Conference and were also presented at the Parent Project Muscular Dystrophy Annual Conference. We then completed the comprehensive analysis of the study results, prepared our clinical study report, and then submitted it to the FDA and began interactions with them to determine their remaining development requirements. The FDA has approved our request for orphan drug, rare pediatric disease, and more recently, fast track designations for our DMT program. Overall, 2025 was a defining year for Cumberland. We grew our commercial business, advanced our development pipeline, expanded our global footprint, and strengthened our financial foundation. So with that overview and developments, I'd now like to turn to Todd Anthony, Cumberland's Vice President of Organizational Development, to further discuss both our brands and our organization. Todd?