23andMe Holding Co.

Good morning, and welcome to 23andMe's Fiscal Year 2022 First Quarter Financial Results Conference Call. As a reminder, this call is being recorded. At this time, all participants are in a listen-only mode. After the prepared remarks, there will be a question-and-answer session. I would now like to turn the call over to Wade Walt, Vice President of Investor Relations, to lead off the call. Thank you. Please go ahead.

Thank you. Before we begin, I encourage everyone to go to investors.23andme.com to find the press release we issued earlier today reporting our financial results for the quarter. In addition to the GAAP financial reporting, our press release also contains a reconciliation of the GAAP to non-GAAP financial measures we will discuss today. I would also remind everyone that we will be making forward-looking statements on our call today that are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and our actual results may differ materially. Please consult the risk factors discussed in our SEC filings for additional detail. Joining us on our call today are Ann Wojcicki, our chief executive officer and co-founder, Steve Schuch, our chief financial officer, and Kenneth Hillen, our head of therapeutics. With that, I'll turn the call over to Ann.

Thank you, Wade, and welcome, everyone, to our first earnings call. I'm thrilled that 23andMe is now a publicly traded company. And again, I want to thank our customers, investors, board members, and employees for getting us to this point in the company's growth. I want to start by saying that our vision of a consumer-centered, personalized healthcare world remains at the forefront of all the work we are doing at 23andMe. I am more optimistic every day because even though the challenge we face is huge, we know the opportunity to make a meaningful, positive change is also huge. And we believe we have the tools and the plan to tackle it. The size and scale of our unique database enables us to use genetics to transform how we diagnose, treat, and prevent human disease. Capitalizing on the momentum we built as a private company, we recorded a solid start to fiscal year 2022 with Q1 revenues of $59 million, up $11 million, or 23% versus the prior year's Q1. Steve will cover the numbers in more detail. We also recorded several important milestones on the consumer side. We grew our genetic database to 11.6 million genotype customers, further increasing the value of our premier recontactable database. We also launched three new health reports in the first quarter of our 23andMe Plus members. 23andMe Plus is our premium content subscription service, launched late last year that provides subscribers with unique and new reports and features through the course of their subscription, giving them even deeper insights into their health. First, we launched a new medication insights report. Many people don't know that most of us have at least one genetic variant that may alter how our bodies process certain commonly prescribed medications. That's because genetic testing for these variants, also known as pharmacogenetic testing, is rare. We can offer these reports to our 23andMe Plus members because we are the first and only direct-to-consumer company with FDA-authorized pharmacogenetic reports. This new report provides insights on how a person's genetics may impact their body's ability to process two drugs, citalopram, an antidepressant, and clopidogrel, a blood thinner commonly known as Plavix. About 22 million people in the U.S. are prescribed the talopram, and about 20 million people have prescriptions for clopidogrel. So these medication insight reports can have a real impact on many customers. Next, we launched a new wellness report on cat allergies and on dog allergies. It is estimated that 10% to 20% of people are allergic to dogs or cats worldwide. We used statistical modeling that utilizes thousands of genetic variants as well as a customer's ethnicity and sex to estimate the likelihood of developing a dog or cat allergy. Finally, in June, we launched an eczema report. While the report does not diagnose eczema, it does estimate a person's likelihood of having this condition. This report is powered by a proprietary polygenic risk score, or PRS, which we are uniquely able to calculate by using more than 2,100 genetic variants, and a customer's ethnicity and sex. Our premier genetic database, combined with greater than 4 billion phenotypic data points, we have amassed, gives us the statistical power to generate these PRS reports. In addition to our new reports, we also published key genetic research over the past quarter. This includes our own research on a genetic link tied to loss of smell that is found in some individuals diagnosed with COVID-19. as well as research we've published in collaboration with academic institutions. Just this quarter, our published research spans the genetics of allergies, cataracts, depression, and even how we use genetics to study rare diseases. If you're interested in learning about the new reports and the research we publish, I encourage you to follow our blog at blog.23andme.com. We also continue to make progress with our pipeline of therapeutic programs, Our collaboration with GSK continues to be very productive. We have over 40 programs in various stages of research and development. Our most advanced program is currently in a clinical trial, and another is expected to start in the clinic by the end of March next year. Kenneth will go into more detail on these later in the call. Finally, we are pleased to welcome three new board members this past quarter, including Evan Lovell, Chief Investment Officer of the Virgin Group, Dr. Valerie Montgomery-Wright, the President of Dean of Morehouse School of Medicine, and Peter Taylor, President of the ECMC Foundation. All three are impactful leaders who will bring diverse perspectives. They will be great partners as we scale the company to transform the continuum of healthcare. I want to close by sharing how excited I am as we enter our next phase of growth as a public company. This quarter has gotten us off to a great start. And with that, I will turn the call over to Steve to review our financial results for the quarter.