8/14/2026

speaker
Operator
Conference Operator

Good morning and welcome to the MUCell Corporation conference call to discuss unaudited second quarter 2026 financial results. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Joe Diaz of Lithium Partners. Please go ahead.

speaker
Joe Diaz
Investor Relations Consultant, Lithium Partners

Thank you. Good morning and welcome. As the conference call operator indicated, my name is Joe Diaz of Lithium Partners. We are the investor relations consulting firm for EmuCell. I thank all of you for joining us today to discuss the unaudited earnings for the second quarter and six months ended June 30, 2026. Listeners are reminded and cautioned that statements made by management during the course of this call include forward-looking statements, which include any statement that refers to future events or expected future results, or predictions about steps the company plans to take in the future. These statements are not guarantees of performance and are subject to risks and uncertainty that could cause actual results, outcomes or events to differ materially from those discussed today. Additional information regarding forward-looking statements and the risks and uncertainties that could impact future results Outcomes or Events is available under the cautionary note regarding forward-looking statements or the safe harbor statement provided with the press release that the company filed last night, along with the company's other periodic filing with the SEC. Information discussed on today's call speaks only as of today, Friday, August 14, 2026. The company undertakes no obligation to update any information discussed on today's call. Please note that references to certain non-gas financial measures may be made during today's call. With that said, let me turn the call over to Oliver Te Boekhorst, President and CEO of EVCell Corporation for some opening remarks. Oliver.

speaker
Oliver Te Boekhorst
President & Chief Executive Officer

Oliver Te Boekhorst Thanks, Joe, and good morning, everyone. It's my pleasure to welcome you to today's discussion of Immucel's results for the second quarter of 2026. Our discussion of results will be accompanied by a few slides that are also part of our updated investor presentation that you can find on our investor page, immucel.com slash investors. In late 2025, Immucel made significant changes to better position ourselves for success, including a strategic focus on the calf scours market, and investments in leadership, sales force expansion and manufacturing. Our rationale for this shift was that we compete very effectively with First Defense, our highly differentiated CAHPS-COWRS preventative product in the large growing CAHPS health market and that we believe our portfolio has considerable runway for further expansion domestically, internationally and through selected innovations. Since we introduced this focus on first defense and enhanced our yield improvement efforts, we have accelerated our growth and increased our share. Our strong commercial results reflect the benefits of restored product availability, investments in our commercial team and product portfolio, and a favorable domestic calf market. As previously discussed, we have been highly focused on ensuring reliable product supply. The team has made a lot of changes across the supply chain and we are on track to produce nearly 1 million more manufacturing units this year than we did in 2025. We are now well positioned to meet growing customer demand with our current plant while we execute a major capacity expansion program that is expected to more than triple our current capacity and improve long-term product costs. On today's call, we will discuss the factors affecting gross margin, the actions underway to improve yields, and our planned capacity investments. For a company our size, it continues to make a lot of sense to focus on our successful on-market products and solve the supply challenges that have historically constrained our growth, and we're excited to report on our progress today. I will now turn the call over to Timothy Fiori, our Chief Financial Officer, for a deeper review of our second quarter financial results. Tim?

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