ReShape Lifesciences, Inc.

Good afternoon, and thank you for joining the Reshape Life Sciences second quarter 2022 conference call. I would like to turn the call over to Michael Miller from RX Communications.

Good afternoon, and thank you for joining the Reshape Life Sciences second quarter 2022 earnings call. I'm pleased to be joined by Paul Hickey, the newly appointed President and Chief Executive Officer of Reshape Life Sciences, and Tom Stankovic, Chief Financial Officer. Paul will open the call, after which Tom will provide an overview and update on the company's activities and review the financial results for the quarter. He will then turn the call back over to Paul for some closing remarks, after which we will open up the call to a question and answer session. As a reminder, this conference call as well as Reshape Life Sciences SEC filings and website, including the investor information section of the website, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These and additional risks and uncertainties are described more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as risk factors in the company's most recent annual report on Form 10-K. As an additional reminder, reshaped stock is listed on NASDAQ, trading under the symbol RSLS. I will now turn the call over to Paul Hickey, President and CEO of Reshape Life Sciences. Paul?

Thanks, Michael. Good afternoon, everyone, and thank you for joining us today. I am very excited to be joining Reshape Life Sciences, and I look forward to leading the company during such an exciting juncture. We are working towards our goal of becoming the global leader in physician-led weight loss and metabolic health solutions with a comprehensive, integrated slate of products and services, including our flagship lap band program. I'm enthusiastic about the demand generated by a multi-tier direct-to-consumer marketing campaign thus far, which continues to be successful in driving patient engagement and filling surgeons' pipelines for lap band procedures, evidenced by the 19% increase in sequential revenues achieved in the second quarter. In the second half of the year, we expect a positive trend in sales as bariatric surgeons regain the ability to proceed with lap band procedures, which were severely restricted in the early year due to the continued COVID-19 pandemic, and as patients and providers continue to navigate the typical six-month mandatory waiting period required by insurers for bariatric or weight loss procedures, including the anatomy-sparing lap band. Our confidence in this growth is strengthened by the success of our multi-tiered direct-to-consumer marketing campaign in helping practices work through patient backlogs, thereby allowing more new patients to pursue this process and further increasing the sales of the LapBand and our suite of weight loss and metabolic health solutions. The prospects for Reshape are a significant reason that I chose to join the company. In addition, my experience as senior vice president of marketing and reimbursement at Enteromedics, the predecessor company to Reshape, gave me invaluable insights into the company's potential to help alleviate the obesity epidemic. I am thrilled about the enormous market opportunity ahead of us. The well-documented obesity epidemic rages on with 2.5 billion people or more than 30% of the global population considered overweight or obese. This number is expected to grow to 50% by the year 2030. As a result, the overall bariatric surgical device market is projected to be a $2.8 billion market worldwide by 2025. The U.S. market alone is estimated to grow to 1.8 billion in this timeframe. Additionally, with 50% of the adults in the U.S. trying to lose weight every year, Reshape is positioned to be a leader in addressing the significant effects of this serious health issue. The anatomy sparing lap band is the only FDA approved laparoscopic weight loss device commercially available in the U.S. with the safest profile of weight loss surgeries and is covered by most insurance plans, including Medicare. In addition to our FDA approved lap band program, we have a robust pipeline of weight loss products and services, which we'll discuss in detail during this call. I look forward to working closely with the entire Reshape team to take advantage of this opportunity to expand the company's growth as we execute on our strategy to become the premier physician-led weight loss and metabolic health solutions company. I would now like to turn the call over to Tom Stankovich to review the recent highlights and provide a recap of our financial performance. Tom?