electroCore, Inc.

Greetings and welcome to the Electric Core fourth quarter and full year 2025 earnings conference call. At this time, all participants have been placed in a listen-only mode. Please make sure to mute yourself. Question and answer session will follow the formal presentation. A reminder, this conference call is being recorded. Earlier today, ElectroCorp published results for the fourth quarter and full year ended December 31, 2025. A copy of the press release is available on the company's website. I'd like to remind you that members on the call will make statements during the call that include forward-looking statements within the meaning of the federal securities law, 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 are not statements of historical fact should be deemed to be forward-looking. All forward-looking statements, including, without limitation, any guidance, outlook, or future financial expectation, or operational activity and performance, including any statements regarding first quarter 2026 and full-year performance and the path to profitability, are based upon the company's 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 of these risks and uncertainties associated with the company's business, please see the company's filings with the Security and Exchange Commission. Electric Corps disclaims any intention or obligation except as required by law to update or revise any financial projections, forward-looking statements, whether because of new information, future events, or otherwise. This conference call contains time-sensitive information that is accurate only as of the live broadcast today, March 19, 2026. It's now my pleasure to introduce Dan Goldberger, Electric Corps' Chief Executive Officer.

participating in today's ElectroCorp earnings call. Joining me today is Dr. Thomas Arako, one of our founders and investor and chairman of the ElectroCorp Board of Directors, and Joshua Lev, our chief financial officer. Before we begin, I want to express the privilege it is to address so many colleagues, partners, investors, and friends who have supported ElectroCorp since I took the CEO position in late 2019. Over the years, we've taken meaningful steps in building a great community. I'm deeply proud of what we accomplished and truly thankful for your support, as well as the support and hard work of all the employees who work tirelessly in making our non-invasive pain therapeutics available to patients who need them. With that in mind, I'd like to share an important personal decision about the next chapter for myself and for this organization. After thoughtful discussion with the board about the company's next phase of growth, I have made the decision to retire as CEO of Electric Core effective April 1st, 2026. When I joined in late 2019, I already was strengthening the company's financial position and establishing a focused commercial strategy. For the past several years, we've made substantial progress on those objectives, including building momentum in the VA channel, expanding our product portfolio, a stronger financial footing. With that foundation now in place, the Board and I believe this is the right time to begin a leadership transition as ElectroCorps moves into its next stage of growth. To ensure a seamless transition, the Board of Directors has appointed Joshua Lev as interim president. ElectroCorps is also hiring a new chief operating officer. These steps will provide stability and operational momentum while the board conducts a thorough search for my permanent successor. I look forward to continuing to support the company during the transition and to exploring new opportunities where my experience may be helpful. I step away knowing that ElectriCorps is in excellent hands and well positioned for continued success. I'm confident the leadership team will continue building on the progress we've made and drive the company forward in the next phase of growth. It's been an honor to lead this organization and serve you, our shareholders. Thank you for your unwavering support. I look forward to watching ElectroCorps thrive from the front. Now, the chairman, Dr. Errico, would like to share a few thoughts on strategy and the future.

Thank you, Dan. On behalf of the board of directors, I want to take a moment to recognize Dan Goldberg, and for the momentum the company carries forward today. As we look ahead, I'm pleased to share an update on our leadership transition, which is designed to ensure continuity and focus as we enter our next phase of growth. Effective April 1st, Joshua Lev, our Chief Financial Officer, will assume the role of Interim President, overseeing day-to-day operations while continuing to serve as CFO. Josh has more than 15 years of experience in finance and operations and has played a central role in guiding the company through several key milestones. He is well positioned to lead during this transition as we conduct a search for a permanent successor. In April, we will welcome Michael Fox as our new Chief Operating Officer. Michael joins us from ProMedTech, where he served as Chief Revenue Officer. He brings more than three decades of experience across pharmaceuticals, biotechnology, and medical devices with deep expertise in complex federal markets, including the VA system. His operational leadership continue to scale across the organization. With this transition in place, the board and management team remains fully focused on executing our strategy of increasing sales within covered entities such as the VA system and driving long-term value through market expansion into general wellness with our TrueVega product offering. Moving now to the business. we remain encouraged by the continued momentum of our non-invasive vagal nerve stimulation or NVNS platform. Before Josh Lev reviews the financials, I'd like to briefly highlight the clinical foundation supporting our portfolio. Our flagship GammaCore device is supported by a substantial body of scientific evidence, including more than 20 peer-reviewed publications. and multiple randomized controlled trials such as ACT-1, ACT-2, PRESTO, and PREMIUM. These studies have demonstrated statistically significant reductions in migraine and cluster headache frequency, intensity, and duration. GammaCore is FDA cleared for both acute and preventative treatments in adult and adolescents and real-world adoption continues to build. For example, UK audit data shows that a meaningful portion of cluster headache patients achieve clinically significant response rates alongside measurable cost savings compared to standard care. Beyond GammaCorp, exploratory studies traumatic brain injury, and inflammatory conditions related to COVID-19 highlighted the potential for broader anti-inflammatory potential of NVNS. These studies have shown encouraging signals across fatigue, quality of life measures, and anti-inflammatory biomarkers. At the same time, ongoing trials in areas such as PTSD, long COVID, substance abuse disorder, musculoskeletal pain, and concussions supported by partnerships including the NFL and NFLPA funded research support our long-term strategy for indication expansion. In addition, our QOL device is supported published in well-regarded journals. These studies demonstrate efficacy across multiple pain-related conditions, including difficult-to-treat fibromyalgia, further strengthening the clinical foundation of our portfolio. On the consumer side, Truvega continues to gain traction as a wellness product focused on stress reduction, sleep quality and emotional well-being through parasympathetic nervous system activation. Truvega has recently received recognition from major lifestyle publications and engagement across social and digital channels continues to grow. For example, national media outlets like Women's Health and Men's Health have been driving website traffic. Miranda Kerr mentioned Trivega on the Skinny Confidential podcast. Affiliates like TruMed, Ben Greenfield, and Luke Story have been promoting Trivega, and Trivega is now available through online retail outlets like Best Buy and Rehab Mart. Independent in-home studies indicate high levels of user-reported calmness and sleep improvement after consistent use. Importantly, this momentum supports diversification of our revenue mix and highlights the scalability of our NVNS technology in direct-to-consumer channels. The expanding clinical validation across our product lines continues to support prescription growth, payer engagement, and international expansion. We believe this positions the company well for sustained revenue acceleration and long-term value creation as we bolster our commercial team with VA governmental specialists to further execute against our pipeline and strategic priorities while maintaining our attention on operating efficiency to progress towards profitability over time. And now I will turn the call over to our interim president and CFO, Joshua Leves, to walk through the financial results.