Cue Health Inc.

Good day and welcome to the Q-House first quarter's 2022 earnings call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star then one on your touchstone telephone. If anyone should require assistance during the conference, please press star then zero to reach an operator. As a reminder, this call may be recorded. I would like to turn the call over to Caroline Corner, Investor Relations. You may begin.

Thank you, Operator. Welcome to QHealth's first quarter 2022 earnings call. Joining me on today's call to discuss our results are Ayub Kattab, Chairman and Chief Executive Officer, and John Gallagher, Chief Financial Officer. Our prepared remarks will be followed by a Q&A session. During this call, we'll be making forward-looking statements, including statements related to the expected performance of our business, future financial results and guidance, strategy, long-term growth, and overall future prospects, as well as the impact of the COVID-19 pandemic. We wish to caution you that such statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those we projected or implied during this call. In particular, those described in our risk factors included in our final prospectus related to our initial public offering dated September 23, 2021, and in our March 31, 2022, Form 10-Q that will be filed following this call. You should not rely on our forward-looking statements as predictions of future events. All forward-looking statements that we make on this call are based on assumptions and beliefs as of the date hereof, and Q disclaims any obligation to update any forward-looking statements except as required by law. Our discussion today may include non-GAAP financial measures. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from our GAAP results. Information regarding our non-GAAP financial results, including a reconciliation of our historical GAAP to non-GAAP results, can be found in our earnings release. which was furnished with our Form 8K today with the SEC and may also be found on our investor relations website at investors.qhealth.com. Finally, a recording of this call will be available on our investor relations website shortly after this call has ended. With that, I would like to turn the call over to Abe for his comments on first quarter business highlights. Abe?

Thank you, Caroline, and thank you, everyone, for joining us today. This quarter, we continue to make great strides towards expanding access to the healthcare system by combining our accurate diagnostics with our integrated virtual care platform. I'm pleased with our quarter one, 22 financial results with 179.4 million revenue, almost entirely in the private sector. This performance underscores our sales team's strong commercial execution. In one year, our private sector revenue grew from 2 million in quarter one, 21 to 176 million in quarter one, 22. Today, I'm going to dive directly into the updates on our key growth drivers. As a reminder, these are, first, broadening our customer base, second, test menu expansion, and third, building out our digital services and capabilities. Our first growth driver of expanding our installed base is a key focus because the QReader will run all of the future tests in our pipeline. I'm particularly proud of the growth of our installed base to nearly a quarter million readers, with over 72,000 readers shift in the quarter. These readers ship predominantly to the private sector, expanding our installed base in enterprise, provider, and direct-to-consumer spaces. Q is also now used to test customers in over 1,000 retail pharmacies and distributed by most major healthcare product distributors, including McKesson, Medline, Henry Schein, and Cardinal Health. Progress on our second growth driver, menu expansion, continues to go very well. We are on track to meet all the pipeline milestones we laid out last quarter. I'm thrilled to tell you that last week we submitted our first full de novo application to the FDA for the Q-COVID-19 molecular test. If FDA cleared, we would likely be the first fully cleared molecular test for at-home use for infectious disease testing of any kind. This is a real milestone in the movement of healthcare information and access into the home and into the point of care, and it paves the way for future submissions as we seek to address a wide range of diseases and conditions. We are in the final stages of our flu de novo clinical studies and plan to submit to the FDA in the third quarter for full clearance. Our flu plus COVID multiplex test is ahead of schedule. We are slated to begin clinical studies during the second quarter through our existing network of clinical sites. RSV is on track to begin clinical studies in the third quarter. Our chlamydia plus gonorrhea multiplex test is progressing well, and as expected, we plan to begin clinical studies in the second half of 22. I'm extremely proud of the R&D team's accomplishments in a short time frame. The expansion of our digital capabilities is our third growth driver. We continue to invest heavily in building technology enhancements for our integrated care platform. These capabilities, like telemedicine and prescription delivery services, make our diagnostic results more actionable, which we believe translates to better outcomes for patients. We're excited about our upcoming launch of test-to-treat initiatives on the Q platform. This is a defining moment for Q and healthcare delivery in general. Q customers will soon be able to leverage virtual care and request delivery of prescriptions to their home within hours, all in the Q Health app. We expect this to launch in the second half of 22, so we look forward to updating you on this next quarter. Our software development team continues to lay the foundation for more integrated virtual care and enhancing e-commerce experience within the Q Health app. In summary, we're proud of the progress on all of our growth drivers. With continued expansion of our customer base, test offerings, and software and services, our team is making great strides towards our mission of making healthcare more timely and accessible. I look forward to updating you next quarter on our Flu de Novo submission and in-app test-to-treat capabilities. As we continue to build out the business, we are excited by what we have in store. Lastly, I'd like to share a touching story about how our products have benefited our customers. As you know, many of our customers are private companies who provide Q to their employees. We recently learned about an individual whose mom was diagnosed with stage four cancer. Thankfully, the mom is cancer-free today, but she was going through all of her treatment during the pandemic. This employee also has two members who are essential workers. By testing with Q, they discovered three family members had COVID during the holidays and took action to avoid any contact with their immunocompromised mother. Since then, she reached out to thank Q for the ability to test, isolate, and prevent exposing her mom. It's stories like this that make me so proud of our team and what we do, putting actionable health information in people's hands to make a difference in their lives. With that, I'll turn it over to John to walk through our financial results.