RiceBran Technologies

Good afternoon, ladies and gentlemen, and welcome to the Rice Brand Technology Third Quarter 2021 Learning Call and Podcast. At this time, all participants have been placed on a listening mode. We will open the floor for questions and comments after the presentation. It is now my pleasure to turn the floor over to Joe. Sir, the floor is yours.

Thank you, Operator. Good afternoon, and welcome to the Rice Brand Technology's Third Quarter 2021 Financial Results Conference Call. Hosting the call today are Peter Bradley, Executive Chairman, Todd Mitchell, Chief Financial Officer. I want to remind all participants that during the call, management's prepared remarks may contain forward-looking statements that are subject to risks and uncertainties. Management may also make additional forward-looking statements in response to your questions today. Therefore, the company claims protection under the Safe Harbor for forward-looking statements It's contained in the Private Securities Litigation Act, 1995. Actual results may differ from results discussed today, and therefore, we would refer you to more detailed discussion of these risks and uncertainties in the company's filings with the SEC. In addition, any projections as to the company's future performance represented by management, including estimates, as of today, October 27, 2021, and the company assumes no obligation to update these projections in the future as market conditions change. This webcast and certain financial information provided on the call, including reconciliations of non-GAAP financial measures to comparable GAAP financial measures, are available at ricebrandstats.com on the investor relations page. At this time, I'd like to turn the call over to Peter. Peter, the call is yours. Thank you, Rob, and good afternoon, everyone.

Over the past year, we have streamlined operations and improved execution, eliminating most of the systemic challenges we have faced and providing a solid base from which we can focus on developing higher margin, higher added value ingredients. The third quarter results demonstrate the importance of this strategy and our success in implementing it. We grew our revenue by 34% year over year in a quarter and narrowed EBITDA losses materially. in one of the most challenging environments I have seen in my 35-year career in the food and food ingredient industry. Supply chain disruptions and labor shortages are impacting us and our customers. Todd will give you the details, but we estimate related issues cost us over $600,000 in revenue in the third quarter and almost nearly as much in gross margin. These challenges will not go away overnight, but we are executing better and taking specific actions to mitigate their impact where we can. We are also pressing forward with new product development and achieved important milestones in the third quarter. I will give you some more detail on our progress on this front in a minute, but first let's have Todd run you through the quarter in more detail.