electroCore, Inc.

Greetings, and welcome to the Electricorps first quarter 2026 earnings conference call. At this time, all participants have been placed in listen-only mode. Please make sure to mute yourself. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. Earlier today, Electricorps published results for the first quarter ended March 31, 2026, and the press release is available on the company's website. Before we begin, I would like to remind everyone that members on the call will make forward-looking statements within the meaning of the federal securities laws made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that are not historical facts should be deemed to be forward-looking, including without limitation to any guidance the company's outlook on second quarter and full-year performance and its path to profitability. These statements involve material risks and uncertainties that could cause actual results to differ materially from those anticipated. For a list of risk factors, please see the company's filings with the Securities and Exchange Commission. ElectroCorp disclaims any obligation to update these statements. except as required by law. This call contains time-sensitive information, accurate only as of today, May 6, 2026. Joining us on today's call from ElectroCorp are Dr. Thomas Errico, one of the company's founders, investor, and independent chairman of the Board of Directors, Joshua Lev, interim president and chief financial officer, and Mike Fox, recently appointed Chief Operating Officer. It is now my pleasure to turn the call over to Dr. Thomas Errico, ElectraCorp's founder and independent chairman, for opening remarks. Dr. Errico?

Thank you, Amanda. Good afternoon, everyone, and thank you for joining ElectraCorp's first quarter 2026 earnings call. This is the first earnings call since we announced our leadership transition. And I want to take a moment to share how encouraged I am by the progress we have made executing that transition. And by the momentum we continue to see across the organization. Since stepping into the role of interim president, Josh has provided steady, disciplined leadership while maintaining his focus on financial rigor. The alignment between our operational priorities and our financial strategy has been evident and the organization has responded with focus and urgency. The strategy has not changed. The execution has not slowed. If anything, the focus across the organization has sharpened. At the same time, Michael Fox joined us as Chief Operating Officer on April 13th, bringing more than 35 years of commercial leadership experience across complex healthcare markets. including extensive work within the federal systems and the US Department of Veteran Affairs. In just three weeks, his depth of experience has already provided valuable insights to strengthen our execution, particularly as we continue to expand our presence within complex government channels. He will introduce himself shortly. Importantly, this transition has not slowed us down. It has reinforced our foundations. We remain firmly committed to our strategy, driving growth within our covered entities, advancing our clinical and scientific leadership in non-invasive vagus nerve stimulation, and expanding our reach into the consumer wellness market. And we are doing so with discipline, managing cost base, expanding the margin, and protecting our path to profitability. In our clinical work, we continue to invest in the evidence base that underpins our portfolio. That evidence remains a key differentiator as we engage with providers, payers, and partners globally as well as domestically. and it positions us to expand into new indications over time. In the VA, where we have built a credible commercial presence over many years, we believe we have a meaningful long-term opportunity. Our commercial leadership is leveraging Mike's experience to identify new ways to be more targeted and more effective, particularly within a system where we still have substantial room to penetrate. On the consumer side, we are building a scalable, direct-to-consumer channel with increasing brand visibility, improving unit economics, and a growing network of influencer and affiliate partners that resonate with audiences seeking non-pharmacologic, science-backed wellness solutions. The early traction we are seeking reinforces our belief in the broader applicability of our technology and its relevance to everyday wellness. What gives me the greatest confidence is not just the program itself, but how it is being achieved with discipline, alignment, and a clear sense of purpose across the organization. We are building a strong foundation and we are doing so in a way that positions the company for durable long-term growth. While our search for a permanent CEO continues, I am confident that the team we have in place today, Josh, Mike, and the broader leadership group, is the right team to execute against our priorities and carry our strategy forward. I look forward to updating you on our continued progress in the quarters ahead. With that, I would like to introduce our new Chief Operating Officer, Mike Fox. Mike?

Thank you, Tom. Good afternoon, everyone. I joined Electric Core for one reason. I saw science-based platform technology with proven published clinical outcomes data that support a credible commercial foundation and significant room for growth, particularly within the federal channels where I spent most of my career. Three weeks in, That conviction has only strengthened due to my greater exposure to the existing and future data sets being gathered. I've also had the opportunity to meet a vast number of talented colleagues within the company who are dedicated to the mission and the patients we serve. So rather than walk through my background, let me tell you what I've been focused on and where the opportunity exists. A major priority is the VA and Department of Defense markets. We have just scratched the surface of penetrating in the addressable VA headache market. Though we have patients being treated with our products in VA medical centers across the country, we're not attaining the utilization level that meets the needs of our veterans and the dedicated providers caring for these military heroes. The majority of new patients identified and prescribed our products in Q1 are not spread across the country as expected or needed. That tells me two things. One, we have built real distribution. And two, we are nowhere near saturation. My focus is moving from facility breadth to facility depth. more prescribers per site, more patients per prescriber, and more consistent customer experience across the system. My second priority is the broader federal channel. The VA is our largest entry point, but it is not the only one. The Department of Defense, across all service branches, represents an underdeveloped opportunity for both our prescription products and for tax them. Given the heightened tempo of U.S. military operations abroad, the demand environment for non-invasive, drug-free, performance-supporting solutions has only intensified. I spent the last three and a half decades building relationships in these channels, and I intend to put them to work for this company. My third priority is operating discipline. Josh and the team have built a high-margin business, 87% gross margin in Q1, and you're starting to see operating leverage show up in the numbers. My job is to make sure that as we scale, incremental revenue translates to incremental bottom line, not incremental costs. We intend to grow this business efficiently while we establish Electricor as a partner of choice to ensure market stability in the years ahead. I'm three weeks in, but trust that my experience in developing company growth and success is from decades of learnings and proven execution strategies. I'm truly excited about the opportunity presented to me here at Electricor. There will be much more for me to share over the coming quarters, but I'm convinced that what is in front of us is real, and I'm truly grateful to be a part of it. With that, I will turn the call back over to Josh to walk through the quarter. Josh.