Ontrak, Inc.

and answer session. To ask a question during the session, you will need to press star one on your telephone. If anyone should require assistance during the conference, please press star event zero on your telephone. I would now like to hand the conference over to your host, Caroline Paul, Investor Relations. Thank you. Please go ahead.

Thank you, and thank you all for participating in today's call. Joining me today are Jonathan Mayhew, Chief Executive Officer, and Brandon Laverne, Chief Financial Officer. Earlier today, OnTrack released financial results for the quarter ended March 31st, 2022. A copy of the press release is available on the company's website. Before we begin, I would like to make the following remarks concerning forward-looking statements. All statements in this conference call other than historical facts are forward-looking statements. The words anticipate, believes, estimates, expects, intends, guidance, confidence, targets, projects, and some other expressions typically are used to identify forward-looking statements. These forward-looking statements are not guarantees of future performance but may involve and are subject to certain risks and uncertainties, other factors that may affect OMTRAC's business, financial condition, and other operating results, which include but are not limited to the risk factors described in the risk factors section of the Form 10-K and Form 10-Q as filed with the SEC. Therefore, actual outcomes and results may differ materially from those expressed or implied by these forward-looking statements. ONTRAC expressly disclaims any intent or obligation to update these forward-looking statements. With that, I'd like to turn the call over to Jonathan.

Thanks, Carolyn. Good afternoon, everyone, and thanks for joining us today. Since its founding, OnTrack Health has always been a mission-oriented organization with a focus on improving the health and saving the lives of as many people as possible. People like the OnTrack member Dominic, a Medicaid beneficiary who suffered from multiple chronic comorbidities, including diabetes, hypertension, chronic pain, anxiety, depression, and substance use disorder. OnTrack helped Dominic to stop binge drinking and connected him with a therapist and psychiatrist who worked with him to address chronic trauma and better manage his mental health. With a dedicated support from his OnTrack coach, Dominic was engaged with his behavioral and primary care providers in adhering to his treatment plans, resulting in a $42,000 reduction in annual claim costs at graduation. a 71% savings compared to the 12 months prior to enrolling in our program. OnTrack understands that the best way to help vulnerable individuals like Dominic who have complex chronic conditions and face barriers to care is through a sustained, evidence-based, collaborative, whole-person coaching and behavioral health provider model that maximizes the effectiveness of behavior change programs and treatment plans. Today, our vision is to transform the healthcare journey for people with complex physical, mental, and social care needs through our AI-infused, evidence-based care model. It's the story we've been telling customers and prospects as we fortify our value proposition and move to a growth trajectory. Let's start there with an update on our pipeline and our growth agenda. Our sales cycle has traditionally been long, up to about 18 months, and includes a series of key steps beginning with the initial meetings, a signed non-disclosure agreement, then usually proceeding to data exchange followed by final contract negotiations and signatures. Since our last call, we've seen a strong acceleration of these steps with various prospects and can see a path to shorter sales cycles if we stay on the current path of development. I'm pleased to share we have a new multi-state health plan prospect that's in the contracting status, and that speaks to the confidence in our enhanced model. We also have two health plan prospects in the data exchange phase with us with term sheets and contracting the next steps towards our final engagements. We touched on one of these in our last earnings call, a multi-state health plan. The other is a prominent plan in one of the nation's largest states. Together, these potential customers represent over 4 million lives across all lines of business that are highly suited for a whole person evidence-based model. We anticipate going live in the second half of 2022 with each of these customers and with most of that revenue being realized in 2023. Nearly all of the remaining 13 health plan prospects we highlighted during our last call remain actively engaged with us, including two who have signed NDAs, which is a prerequisite for the data exchange. And we have seven more to the list, bringing our active health plan pipeline to 19. In addition, we're collaborating with existing customers on various growth initiatives, including assistance with their RFP submissions for new state contracts, expanding our relationships to cover new geographies and lines of business, and launching the OnTrack mobile app, which will help promote higher enrollment rates and more engagement with our care coaches and providers. We believe the key to this encouraging momentum And our future success lies in the advances we've made in our clinical model and the technology that's underpinning it. OnTrack is developing an industry-first solution. We refer to it as Whole Health Plus that combines a rigorous evidence-based clinical model applied to our health coaching and provider treatment plans with deep augmented intelligence capabilities infused into every step of the member journey. from program eligibility through graduation. Our enhanced clinical model incorporates evidence-based coaching techniques and treatment plans, smart goal setting, standardized assessments, gaps in care, interventions, and bi-directional communications between care coaches and mental health providers. As part of our model, we're creating an evidence-based provider network that combines both our own on-track providers for maximum control and collaboration, and other preferred providers, which will accelerate referrals and appointments, promote integration of care, and improve the member experience. Supporting this is an industry-first advanced engagement engine that uses augmented intelligence to integrate health plan provider and on-track data, allowing us to implement real-time measurement feedback that optimizes every coach and provider interaction. Our AI measurement feedback system, in conjunction with our evidence-based model, will optimize member engagement, coaching interactions, and provider visits, facilitate real-time bidirectional communication between care coaches and mental health providers, assess fidelity measurement to evidence-based methodologies, and most importantly, deliver optimal value-based outcomes like improved access, quality, and reduced cost to our customers. It's our orchestration of these different AI capabilities and the data it generates that we believe customers value as a driver of better outcomes and return on investment. Now an update on our low-acuity well-being solution, LifeDojo, which offers an app-based coaching model to commercial employers. We have been conducting outreach to the top 100 broker consultants in the employer benefits space, have secured a preferred vendor status with several and are providing proof of concept testing with a large professional employer organization or PEO before making the app available to their 8,000 client companies. We've secured meetings with prospects that vary from the railroad workers union to large library systems. We're encouraged with the progress that each of our products is making in the marketplace OnTrack Whole Health Plus as our core health plan offering representing most of our historical and future revenue opportunities and LifeDojo or app-based well-being solution targeting employers. With this sales activity and enhanced product in place, we continue to have a path to profitability that anticipates positive monthly EBITDA in the first quarter of 2023 with positive operating cash flows a quarter later. In the meantime, we have received updated near-term covenant flexibility from our existing debt finance partner, as well as backstop commitments from our founder and executive chairman, while we seek longer-term replacement financing sources in the near term. Now, I'd like to turn the call over to Brandon Laverne, our Chief Financial Officer. Brandon.