Phibro Animal Health Corporation

Hello and thank you for standing by. Welcome to the Fibro Animal Health Corporation first quarter 2026 webcast and conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. I would now like to turn the conference over to Glen David, Chief Financial Officer. You may begin.

Thank you, Sarah. Good day, and welcome to the Fibro Animal Health Corporation earnings call for our fiscal first quarter ending September 30th, 2025. My name is Glen David, and I am the Chief Financial Officer of Fibro Animal Health Corporation. I am joined on today's call by Jack Bentime, Fibro's Chairman, President, and Chief Executive Officer, Donnie Bentime, Director and Executive Vice President of Corporate Strategy, and Larry Miller, our Chief Operating Officer. We will cover financial performance for our first quarter and provide updated financial guidance for our fiscal year ending June 30th, 2026. At the conclusion of our remarks, we will open the lines for your questions. I would like to remind you that we are providing a simultaneous webcast of this call on our website, gahc.com. Also, on the investor sections of our website, you will find copies of the earnings press release and quarterly form 10-Q, as well as the transcript and slides discussed and presented on this call. Our remarks today will include forward-looking statements, and actual results could differ materially from those projections. For a list and description of certain factors that could cause results to differ, I refer you to the forward-looking statements section in our earnings press release. Our remarks include references to certain financial measures which were not prepared in accordance with generally accepted accounting principles or U.S. GAAP. I refer you to the non-GAAP financial information section in our earnings press release for a discussion of these measures. Reconciliations of these non-GAAP financial measures to the most directly comparable U.S. GAAP measures are included in the financial tables that accompany the earnings press release. We present our results on a GAAP basis and on an adjusted basis. Our adjusted results exclude acquisition related items, Unusual non-operational or non-recurring items, including stock-based compensation. Other income expense as separately reported in the consolidated statement of operations, including foreign currency gains and losses net. Income taxes related to pre-tax income adjustments and unusual or non-recurring income tax items. Now, let me introduce our Chairman, President, and Chief Executive Officer, Jack Mentine, to share his opening remarks.

Thanks, Glenn. In the first quarter, we delivered 55% growth in animal health sales and an 85% increase in animal health adjusted EBITDA, clear evidence that our strategy is working. Medicaid-free additives led the way with 81% growth, supported by solid gains in nutritional specialties and vaccines. This performance reflects our continued success in seamlessly integrating the acquired MFA portfolio into our operations. At the same time, our legacy animal health business continues to outperform, delivering 11% growth overall and 6% growth in legacy MFA and other products. These results highlight the strong demand across our diversified animal health portfolio and the enduring strength of global protein production. We are also encouraged by emerging research showing that GLP-1 users, while spending less overall on food, are increasingly choosing high-quality animal-derived proteins. This evolving consumer preference supports our industry long-term growth and reinforces the relevance and value of Fibro's offerings. Our ability to translate this demand into stronger bottom-line performance is being driven by our Fibro Forward initiatives. These efforts continue to enhance operational discipline, accelerate innovation, and sharpen our focus on strategic growth. As a result, we're gaining the flexibility to invest in high-impact opportunity across our portfolio, positioning Fibro for sustainable long-term value creation. Looking ahead, we remain focused on innovation and execution. The recent launch of Restoris, our proprietary dental gel for dogs, marks a major milestone in our companion animal strategy. Together with our newly licensed early-stage therapeutic compound targeting canine periodontal disease, We're building a differential oral care portfolio that we believe will drive long-term growth. And Glenn will discuss in more detail. Thanks to our strong performance and disciplined approach, we're raising our full-year earnings guidance and continue to invest in the future of animal health. I'll now hand it back to Glenn, and I look forward to your questions. Glenn.