Great Elm Group, Inc.

Good morning. My name is Chris, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Great Elm Group second quarter 2022 financial results. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star, then the number one on your telephone keypad. And to withdraw your question, please press star one again. Thank you. Adam Yates, Managing Director, you may begin.

Thank you, and good morning, everyone. Thank you for joining us for Great Elm Group's fiscal second quarter 2022 earnings conference call. As a reminder, this conference call is being recorded on Friday, February 11, 2022. If you'd like to be added to our distribution list, you can email investorrelations at greatelmcap.com, or you can sign up for alerts directly on our website, www.greatelmgroup.com. The slide presentation accompanying today's conference call and webcast can be found on our website under events and presentations. A link to the webcast is also available on our website as well as in the press release that was disseminated to announce the quarterly results. I would like to call your attention to the customary safe harbor statement regarding forward looking information. Also, please note that nothing in today's call constitutes an offer to sell or a solicitation of offers to purchase our securities. Today's conference call includes forward-looking statements and projections, and we ask that you refer to Great Elm Group's filings with the SEC for important factors that could cause actual results to differ materially from these projections. Great Elm Group does not undertake to update its forward-looking statements unless required by law. To obtain copies of SEC filings, please visit Great Elm Group's website under Financial Information and select SEC Filings. For those who may not be familiar with Great Elm Group, I'll take a brief moment to review our general structure and strategy. Great Elm is a holding company, and our objective is to create shareholder value through the collective efforts driving our two verticals, operating companies and investment management, each of which employs a distinct strategy. In operating companies, we manage Great Elm Durable Medical Equipment, or DME, a distributor of respiratory care equipment and fleet study services. In investment management, we seek to increase assets under management. both in Great Elm Capital Corp., the publicly traded BDC, and in other investment vehicles managed by Great Elm Capital Management, or GECM. Hosting the call today is Peter Reed, Great Elm Group's Chief Executive Officer. I will now turn the call over to Peter.

Welcome, everyone, and thank you for joining us today. I'm joined this morning by our President and COO, Adam Kleinman, and our CFO, Brent Pearson. I will begin with a general overview and key highlights of the quarter, and Brent will discuss our financial results in greater detail, and then I'll return for closing remarks. This was a solid quarter for Great Elm Group. We achieved growth in sales and reported profits within our operating company business at DME, and in our investment management business, we continued to make progress on building a specialty finance continuum of lending at GECC. In addition, we continue to work on a number of strategic initiatives. After the successful integration of recent acquisitions, AMPM and MedOne, we reported strong quarterly results for our DME business despite challenges in the supply chain. We continue to observe increasing demand across our product and service offerings following the prolonged pandemic conditions in the prior fiscal year, and we are focused on growing revenue and profitability at DME. On the investment management side, revenue for the quarter was slightly higher due to an increase in the average assets on which such fees are calculated. One of our key areas of focus at GEG is to increase the fee generating AUM. As you may be aware, GEG's fiscal year does not match GECC's. As such, GECC, whose fiscal year ends December 31st, has not completed its audit process, which limits the information we have to disclose about GECC as compared to other quarters in the year. One of the most important ways to grow assets at GECC is through the build out of its specialty finance platform. GCC has made good progress on this initiative as evidenced by its recent acquisition, Sterling Commercial Credit, which is a leading provider of asset-based loans to middle market companies across the United States. Sterling has been providing working capital solutions to small and medium-sized businesses in a wide variety of industries since 2004. Coupled with the acquisitions of Prestige Capital and, more recently, Lenders Funding, The GECC family of specialty finance businesses has an increasingly broad array of capital solutions to offer small and medium-sized businesses. Collectively, we believe that this platform will offer attractive and uncorrelated risk-adjusted returns to GECC shareholders. With that, I'll turn it over to Brent to discuss our financial results for the quarter in more detail, and then I'll return for a few closing remarks.