iMedia Brands, Inc.

And welcome to iMedia Brand's fourth quarter and full year 2021 earnings call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Monty Wagman, CFO. Please go ahead.

Good morning, everyone, and thank you for joining. We issued our Q4 earnings release earlier this morning. If you do not have a copy, you may access it through the news section of our IR website at imediabrands.com. This release is also an exhibit to the Form 8K filed this morning. I would also like to remind everyone this call will be available for replay through April 1, 2022, starting today at 1130 a.m. Eastern Time. A webcast replay will also be available via the link provided in today's press release, as well as on the IR section of our website. Some of the statements made during this call are considered forward-looking and are subject to significant risks and uncertainties. These statements reflect our expectations about future operating and financial performance and speak only as of today's date. We undertake no obligation to update or revise these forward-looking statements. We believe the expectations reflected in our forward-looking statements are reasonable but give no assurance such expectations or any of our forward-looking statements will prove to be correct. For additional information, please refer to the Safe Harbor Statement in today's earnings release and our SEC filings. Finally, we will make references to non-GAAP measures on this call, such as adjusted EBITDA. Please refer to our earnings release for further information about these measures, including reconciliations to the most comparable GAAP measures. Now I would like to turn the call over to the CEO of iMedia Brands, Tim Peterman.

Tim? Thank you, Monty, and good morning, everyone. I would like to start today by thanking our employees, vendors, advertisers, and digital publishing partners for their amazingly consistent effort that enabled iMedia to produce a transformational 2021. A year where our revenue grew 21% year over year, our adjusted EBITDA grew 74% year over year, and we assembled the strategic assets necessary to to scale our interactive media growth strategy. And we were even able to demonstrate that strategy with the successful relaunch of Christopher and Banks. We build entertainment brands here. That's what we do. Now, many companies say that, and some are pretty good at it, but it's how we build entertainment brands here that makes us unique. We require three non-negotiable criteria for every entertainment brand we build or acquire. First, It has to be a brand that is accelerating the online migration of its entertainment, whether that entertainment is defined as a TV show, consumer product or service, or simply information a consumer is passionate about. Second, it must be a brand that is targeting customers who are women and men, primarily 55 years of age and older. Third, we must believe we can realistically make it financially accretive in year one. That is our scope. That is our discipline. Create entertainment. aggregate audiences, monetize engagement. Our primary competitive advantage is that our entertainment brands promote and provide first-party data to our consumer brands and digital advertising brands, which we believe other advertising platforms and consumer brands do not always enjoy. Since we are accelerating our pace to become the leading interactive media company, capitalizing on the convergence of entertainment, e-commerce, and advertising, we are implementing certain actions to make it easier for the investor community to see our progress. For instance, as we announced earlier, beginning with Q4 2021, we are reporting our results within three financial operating segments, entertainment, consumer brands, and media commerce services. I hope you find this information useful. In addition, as part of this effort, we held our first Capital Markets Day here at our global headquarters in Eden Prairie, Minnesota, on February 7th. And I would like to thank many of you listening today who attended. We had a great turnout of existing and prospective investors who collectively engaged with our leaders as we explained who we are, how we operate, and where we are going. We talked about how we view ourselves as a self-contained digital media ecosystem, a walled garden, if you will, and why the first step in our journey that began in 2019 was to revitalize ShopHQ because it was this revival of that created iMedia's big bang moment, giving life to the interactive media strategy you see working today. We talked about how ShopHQ's promotional power and first-party data are fueling the omni-channel growth of our consumer brands, like Christopher & Banks and JW Hume, as well as fueling digital advertising growth for our iMedia Digital Services, or IMDF. We talked about why we acquired 123TV, which is disrupting TV retailing in Germany with its gamification strategy, and why we believe 123TV's proprietary auction platform and gamification expertise will enable us to disrupt the online hotel and airline shopping marketplaces here in the U.S. We talked about why we acquired Cinecor's portal and advertising business segment and rebranded it IMDS. We believe this video advertising platform that engages and monetizes over 200 million monthly users for its online publishers, MVPDs, and ISPs is a primary catalyst in our company's overall data-driven growth strategy. What we love about IMDS is it operates a leading proprietary programmatic advertising exchange that has real scale and maintains direct technological API connections into the top supply-side platforms and demand-side platforms, which provides IMDS with speed, and we all know speed matters. It has an entrepreneurial management team we know fits well with our culture. It has a direct search agreement with Google because for a very long time, IMBS's biggest clients have been and continue to be reputable online publishers, MVPDs, and ISPs. I will note we recently announced the renewal of our Google agreement. We believe we can take these existing competitive advantages and add ShopHQ and Christopher Bank's first-party shopping data, which is a competitive advantage because the entire digital advertising industry is scrambling to prepare for Google's upcoming removal of third-party online cookies. Leverage ShopHQ's relationships with IMDS's core clients, the MVPDs and ISPs in the U.S., which ShopHQ pays roughly $80 million annually. Add ShopHQ and Christopher Bank's unique digital advertising demand, which further improves the transparency of IMDS's advertising clients. capture OTT advertising supply from Float Left's OTT SaaS platform clients, and capture first-party data from 123TV's disruption of the digital shopping for hotels and airlines here in the U.S. We believe IMDS, now equipped with our synergies, will become a financially significant growth catalyst for our company. Before I turn it over to Monty to talk about our Q4 and full-year financial results, I would like to emphasize what I believe are the top takeaways from today. One, ShopHQ is operating well now, for the first time in a long time. In addition to the programming, merchandising, and margin improvements, ShopHQ's recent HD launches in the top 10 markets are performing better than expected, creating 15% to 25% lift in those markets. As I said at our Capital Markets Day, ShopHQ is fixed. Two, our strong 2021 financial outlook And strategic accomplishments didn't just happen. It took three years of hard work by passionate employees continually accomplishing aggressive goals to create the type of culture capable of producing consistent future performance. We have that now. Three, our exciting 2021 financial results do not mean that iMedia doesn't face its share of marketplace challenges every day. We do. ShopHQ continues to face unusually high logistics costs from the COVID-19 pandemic. We believe the worst is behind us, but we are expecting these extra costs to continue for fiscal 2022. 123TV is absorbing a new challenge, which is the Russia-Ukraine conflict's negative impact on Germany's economy, Germany's GDP forecast, and Western Europe's consumer confidence. Since Germany is Western Europe's biggest economy, consumer confidence matters. For example, German auto companies like Volkswagen, BMW, and Porsche all operate large facilities and employ large workforces in Germany, and this Russia-Ukraine conflict is accelerating an already existing electronic component shortage for car manufacturing. These marketplace challenges being said, and these are only a few, I will reiterate all these challenges are factored in our financial guidance. Four, we believe our 2022 first-quarter, and full-year net sales guidance is achievable because the annualization impact alone of our three 2021 acquisitions should generate roughly 20% annual net sales growth for our company in 2022. Five, we are bullish on our 2025 net sales target of $1.5 billion. We have the strategic pieces in place, and now we need to execute. Meaning, profitably grow our brands we own and operate today, the most significant brands being ShopHQ, Christopher & Banks, 123TV, and IMDS. As always, I appreciate your trust on this journey together. Now, I will turn the call over to Monty to discuss our 2021 financial results and our outlook for 2022. Monty?