Nutex Health Inc.

Greetings and welcome to the NewTex Health 2026 first quarter conference call. At this time, all participants are in a listen-only mode. A brief 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 is now my pleasure to introduce your host, Jennifer Rodriguez. investor relations manager. Thank you. You may begin.

Good morning, everyone, and welcome to NewTex Health, Inc.' 's first quarter 2026 earnings call. My name is Jennifer Rodriguez, and I'm happy to serve as your moderator today. We're truly grateful for your participation and your continued interest in our company as we share the highlights of another exceptional quarter. Please note that this call is being recorded for future reference. Joining me this morning are some of the key leaders driving NewTex Health forward. Our Chairman and CEO, Dr. Tom Vo, our Chief Financial Officer, John Bates, our President, Dr. Warren Hossinian, and our Chief Operating Officer, Wes Bamberg. Together, they'll provide prepared remarks to give you a comprehensive view of our performance, strategies, and vision, after which we'll open the floor for your questions. Before I turn things over to Dr. Vo, I'd like to take a moment to address a few important points. Today's discussion may include forward-looking statements, which reflect management's current expectations about our future performance. These statements are based on what we know today, but they're subject to risks, uncertainties, and other factors that could cause our actual results to differ from what we'll share. For a deeper dive into these forward-looking statements and the factors that might influence them, I encourage you to review the press release and Form 10-Q filed earlier this week as well as our various SEC filings. You'll find all the details there. Additionally, we may reference non-GAAP financial measures such as adjusted EBITDA during the call. For those interested in how these metrics reconcile to GAAP standards, please refer to the press release in Form 10-Q where we've included that information. With those housekeeping items out of the way, it's my pleasure to hand the call over to Dr. Tom Vo, our Founder and Chief Executive Officer. Dr. Goh, the floor is yours.

Thank you, Jan, and good morning, everyone. It's a pleasure to be with you as we review Lutex Health's first quarter 2026 results. This first quarter has been one of renewed energy and vigor as we continue our mission of delivering high-quality, 10-years-level, accessible healthcare to the communities we serve. Let's first discuss the first quarter 2026 financial and operational performance. Total revenue reached 216.5 million, a 2% increase from 211.8 million in Q1 2025. Net income increased to 46.8 million compared to 21.2 million in Q1 2025. Adjusted EBITDA dropped to 57.6 million down 21% from $72.8 million the prior period. John can discuss more, but this has to do with the timing of recognition for IDR expenses in the first quarter of 2025 compared to the same period in 2026. On the volume side, our hospital recorded 49.7 thousand total patient visits, up 3.1% from 48,000.3 thousand patients in Q1 2025. 0.6% of that growth came from same hospitals, demonstrating their resilience and continued relevance in their markets. Please note that this year's flu season was much milder compared to 2025's flu season. On the balance sheet, net long-term debt decreased from $29.2 million at December 31, 2025 to $24.3 million at the end of Q1, 2026. Very low relative to our revenue and expansion base. Net cash from operating activities was $75.5 million for Q1 2026 compared to $51 million in 2025, a 48% increase. Cash on hand grew to $207.3 million as of March 31, 2026, up from $185.6 million at year-end 2025. In the first quarter of 2026, we completed our inaugural $25 million share repurchase program, retiring approximately 119,000 shares. We also initiated a second $25 million share repurchase program during the quarter, reflecting our continued confidence in the intrinsic value of NewTek's health. Our shared repurchase activity underscores management's strong conviction in the long-term intrinsic value of NUCCA's health and our disciplined approach to capital allocation. Operationally, we continue to invest in infrastructure that will support sustained growth in both emergency room and inpatient volumes. These investments are focused on scalability, efficiency, and long-term operating leverage. We are also strengthening our leadership team. with targeted additions in business development, IT, AI, to support our next phase of growth. On the business development side, our focus is increasing community awareness and engagement, ensuring patients and physicians clearly understand the differentiated and unique care delivered at New Texas hospitals. From a technology standpoint, we are investing in both AI and IT to enhance patient care, streamline clinical workflows, and enable innovation within our microhospital model, while preserving the personalized, concierge-level experience that defines NewTex. Technology is advancing at an unprecedented pace, and we believe NewTex is exceptionally well-positioned to harness these innovations to meaningfully improve patient outcomes while driving sustainable patient volume growth across our platforms. As a smaller, more agile organization, we are able to adapt quickly and deploy new technologies far more efficiently than larger, more bureaucratic healthcare systems. In parallel, we continue to develop and grow new service lines, including medical detox programs, behavioral health sciences, outpatient imaging, outpatient procedures, personal injury services. Wes will add more on his operational report. With respect to our de novo pipeline, a significant development this quarter was the board's approval for NewTex to begin directly investing in the development and construction of new hospital facilities. Historically, real estate development was undertaken by third-party developers alongside local physician partners. By internalizing this capability, NewTex can build a more secure, cost-efficient, and scalable development pipeline, while reducing reliance on external credit markets and alleviating the financial burden stored in place by physician partners. Nutex does not intend to hold these real estate assets on a low-income basis. Our strategy is to invest capital upfront to develop and construct the facilities And once a hospital is completed or has reached operational stabilization, we expect to monetize the asset through a sell-leaseback transaction with a third-party owner, such as a real estate investment trust, or REIT. And while a specific REIT partner has not yet been identified, proceeds from these transactions are expected to be recycled into future developments, allowing us to efficiently redeploy capital and continue to expand our footprint in a disciplined and capital-efficient manner. On the IPA front, we are expanding internal resources to bring additional management functions in-house, further reducing our dependence on third-party service providers and improving operational control and efficiency. Warren will discuss more on this later. From a payer strategy perspective, we continue to carefully evaluate all in-network contract opportunities. Each proposal is assessed against our existing reimbursement outcome under the IDR process. Our objective remains consistent. We are not seeking to collect more than peer hospitals offering similar services. We simply aim to receive comparable reimbursement for comparable care. Our goal is not to increase costs to insurers, but to ensure fair and equitable payment. On the legislative front, we continue to closely monitor development related to the Murphy Bill, formerly known as the No Surprises Act Enforcement Act, and we will adjust our strategy as appropriate as that process evolves. More broadly, we are actively monitoring legislative and legal developments nationwide that could impact our business. We have seen several recent core decisions in states such as California, Florida, and Pennsylvania that may be constructive for providers like NewTex. While these matters remain fluid, we believe these developments reinforce the importance of staying engaged in the regulatory and legal landscape, and we will continue to evaluate their potential implications for the company. Today, Nutex Health operates 27 hospital facilities across 12 states. In 2026, we remain on track to open three additional hospitals in the third and fourth quarter. Located in San Antonio, Texas, Jacksonville, Florida, and West Little Rock, Arkansas. Demand for the NewTex health model remains strong. Physicians and community leaders across the country continue to approach us weekly with requests to bring new NewTex facilities to their markets. So with that, I'll turn it over to John Bates, our CFO, to walk through the financials and more details. John?