Spectral AI, Inc.

Good afternoon and welcome to the Spectral AI third quarter 2024 financial results conference call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Devin Sullivan, Managing Director of the Equity Group. Please go ahead.

Thank you, Gary. Good afternoon, everyone, and thank you for joining us for Spectral AI's 2024 Third Quarter Financial Results Conference Call. Our speakers for today will be Dr. Michael DiMaio, Chairman of the Board, and Vince Capone, the Company's Chief Financial Officer. Before we begin, I'd like to remind everyone that during this call, certain statements may be made that constitute forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the company's strategy, plans, objectives, initiatives, and financial outlook. When used during these discussions, the words estimates, projected, expects, anticipates, forecasts, plans, intends, Will, should, future, propose, and variations of these words or similar expressions or the negative versions of such words or expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions, or results and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors. many of which are outside the company's control that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, investors are cautioned not to place undue reliance on any forward-looking statements. Investors should carefully consider the foregoing factors and the other risks and uncertainties described in the risk factor sections of the company's filings with the SEC, including the registration statement and other documents filed by the company. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. With that said, I'd now like to turn the call over to Dr. Michael DeMaio, Spectral AI's Chairman of the Board of Directors. Dr. DeMaio, please go ahead.

Good afternoon to you and everyone. I cannot tell you how happy and excited I am to be here. I am here kind of chuckling, we're calling it SpectralAI. Some of you may know, some of you may not, I'm actually the founder of this company. We founded as SpectralMD in 2009, and I represent the second largest shareholder in the company to this date. We're getting back to basics, just like our election that recently happened, we're kind of getting back, we've had a renewal and refresh of what's going on in the country, and there's a renewal and refresher going on in this company as well. It's come full circle. I founded the company. I was the CEO for over a decade, and I'm back now as the chairman of the board and helping chair the office of the chair. We have an outstanding leadership team, one of them being Vince Compone, who's here, who is general counsel and CFO. So I want to remind everyone why I founded the company and why we're still here to this day with a focus on what we're trying to do. We are and continue to develop a revolutionary device based upon basic science, research that was founded on animal studies that were done to show the best wavelengths of light that could be used to capture the most information from damaged skin. We have an outstanding partner in BARDA, the Biomedical Advanced Research Development Authority, which is a branch of the federal government, the United States federal government, which is quite a worthy sponsor for our company. We continue to embark arm in arm on developing a device and a product that will be able to revolutionize and treat burn and all kinds of wounds based on AI technology. We have nine wavelengths of light that's being trained by algorithms that are using truthing by burns in real clinical studies with hundreds of patients and literally thousands of images that will be able to show or tell the doctors the ability of a wound to heal or not heal. With that information, clinicians like myself can utilize that information and thus be able to triage and treat patients in a thoughtful manner. Now that I'm back, I've been regrouping the team, which is outstanding. We have a leadership team with Vince Capone, Louis Percoco, Jeremiah Sparks, and Stan Misek that are going to lead us to take this device to commercialization. It's quite a challenge, and as a heart and lung surgeon, I certainly welcome any challenges. I don't have any problem taking those challenges on head on and face on. So what I've done in resuming the command module here is to try to focus things in a very clear way. Just like going into an operation to surgery, I like to imagine, verbalize, and focus on what we're going to do. And to that end, I've focused on the three Fs. And here are the three Fs. Number one is finance. Number two is focus. And number three is finish. By finance, I mean we have the best reliable source of revenue and support, which is BARDA, right, for the U.S. federal government. And another source is called MTEC, which is Division of Defense Health Agency, which is focusing on our miniaturization device. The second F is focus. We're regrouping and focusing to be laser focused on completing these projects. We're focused on delivering those items that we promised to BARDA and to the population at large. We're focusing on getting the clearance from the FDA for this technology and this device. And we're focused on the mission of doing all that in a very clear way. The company has embraced this change and embraced this focus. The team is intact. Nobody has left. Everybody remains excited on the mission. The third F is finish. Complete the project that BARDA has asked us to do. Complete the mineralization device or the M-TECH device, which is for the military or the war fighters. Finish the FDA submission, get the clearance, and go forward with that to the U.S. market. And finish what we started in the UK. We're in the UK now with several devices. It's received a tremendous response in the UK. The burn doctors there are excited. There was a recent meeting at the ISBI where preliminary data was presented showing that this changed and improved the care of the patients with the devices that they have in the UK. We will continue that excitement, continue that push in the UK. I might add at this point, that it's become so exciting in the UK that the partners in Australia, in addition, are looking to get the devices there. So very, very soon we have a workflow that we're going to be sending devices to Australia under a special access program to be able to get the doctors and the burn doctors in Australia to use the devices as well. With that introduction, again, I say I'm excited to be back. I'm excited to focus on the 3Fs. and get this company and this device and this dream that I had in 2009 with the eventual goal of commercialization and completion of this project. With that, I'd like to turn things over to Vince Capone, who again is our Chief Financial Officer and General Counsel, for review of our third quarter performance.