Nephros, Inc.

Good day, and welcome to the Nefros Incorporated First Quarter 2022 Financial Results 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. Please note, this event is being recorded. I'd now like to turn the conference over to Kieran Smith with PCG Advisory. Please go ahead.

Good afternoon, everyone. This is Kieran Smith with PCG Advisory. Thank you all for participating in NEPROS' first quarter 2022 conference call. Before we begin, I would like to caution that comments made during this conference call by management will contain forward-looking statements regarding the operations and future results of NEPROS. I encourage you to review NEPROS' filings with the Securities and Exchange Commission including, without limitation, the company's forms 10-K and 10-Q, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. Factors that may affect the company's results include, but are not limited to, the impact of the COVID-19 pandemic, NEPROS' ability to successfully, timely, and cost-effectively develop, seek, and obtain regulatory clearance for its products and services offerings, the rate of adoption of its products and services by hospitals and other healthcare providers, the success of its commercialization efforts, and its effect on the business of existing and new regulatory requirements and other economic and competitive factors. The content of this conference call contains time-sensitive information that is accurate only as of the date of the live call, today, May 4, 2022. The company undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call, except as required by law. I would now like to turn the call over to Nefros' President and Chief Executive Officer, Andy Astor. Andy, please go ahead.

Thank you, Kieran. Good afternoon, everyone. I apologize for my voice. Just getting over a cold. With me on the call today also is Wes Lobo, our Chief Commercial Officer, who will also provide an update on our commercial progress. I'll begin the call with an acknowledgement that the first quarter financial results of 2022 were not strong. Net revenue decreased to 20% year over year and net losses increased significantly. I also want to remind you though, of my comments from our last earnings call on February 23rd. After listing our recent accomplishments during that call, I said, quote, I believe these are strong indicators of progress and cause for optimism. But not all of these accomplishments will show significant results in Q1 or even Q2. Building scalability will have a bigger return in the second half of 2022, and more importantly, sets us up for sustainable growth in the long run, unquote. My perspective on this topic has not changed. Leading indicators remain strong in each of our three business segments. In water filtration, for example, our active customer count increased 17% year over year to an all-time high of 1,276 customers with a retention rate well over 90%. Our pathogen detection systems group is actively pursuing agreements to provide products and services to two significant partners. And in our specialty renal product subsidiary, We completed our response to the FDA on schedule and are now waiting for the agency's response to our request for 510 clearance of our second generation HDF product. I'll turn the call over now to Wes Lobo, our chief commercial officer, for a closer look at our sales and marketing activities. And then I'll return to review our financial results and to provide some brief closing comments. Wes, please go ahead.