Sigma Labs, Inc.

Good day and welcome to the Sigma Labs fourth quarter and full year 2021 financial results conference call and webcast. Today's conference is being recorded. At this time, I would like to turn the conference over to Chris Tyson, Executive Vice President of MZ North America. Please go ahead, sir.

Thank you and good afternoon. I'd like to thank you all for taking time to join us for Sigma Labs fourth quarter and full year 2021 Business Update and Results Conference Call. Your hosts today are Mark Ruppert, Chief Executive Officer, Frank Orszakowski, Chief Financial Officer, and Jacob Brunsberg, the company's President and Chief Operating Officer. A press release detailing these results crossed the wires this afternoon at 4.01 p.m. Eastern today and is available on the company's website, sigmalabsinc.com. Before we begin the formal presentation, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results, and industry prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to the company's SEC filings for a list of associated risks, and we would also refer you to the company's website for more supporting industry information. At this time, I would like to turn the call over to Sigma Labs Chief Executive Officer Mark Ruppert. Mark, the floor is yours.

Thank you, Chris, and good afternoon, everybody, and thank you for joining our call today. I'll start the call with a brief recap of our progress in 2021 and how we have positioned the company for success in 2022 and beyond. Frank will then review our Q4 and 2021 financials, followed by Jacob, who will discuss our plans for 2022, including the progress that we've been making on the strategic initiatives we presented at at January's virtual roadshow. To start off, I am very pleased to say that the company is in a much stronger position today than it was a year ago. First, we doubled revenue over the prior year, continuing to add key blue chip customers aligned around using our technology to advance the industry towards production. We entered 2022 with a much improved balance sheet, significantly more working capital, and with a runway sufficient for us to continue to execute on our plan. Our OEM agreements with additive industries and DMG Mori yielded some significant customers in key verticals, and the recent addition of Econody 3D should provide us with another independent revenue stream in 2022. We continue to add world-class customers to our installed base with organizations such as Los Alamos National Labs, Safran, and the Department of Energy, to name a few. In addition, we added depth to our engineering team, most significantly by adding machine learning and artificial intelligence expertise as we focus on leading edge approaches to not just identifying and classifying defects and anomalies, but predicting them real time. And finally, we strengthened our management team with the addition of Jacob Brunsberg and his recent promotion to president and chief operating officer. These accomplishments are squarely targeted at achieving our mission to set the quality and analytic standard for additive manufacturing. This initiative has two major thrusts geared at increasing our global footprint and maximizing the value of our IP. The first, which I've discussed with you previously, and which we are well on our way to achieving, is to provide a standards-based third-party agnostic solution supporting multiple processes and multiple materials across industrial printers from the leading OEMs in the industry. As you know, we have solutions for the most popular industrial metal processes and printers. In Q4, we introduced the PrintRight3D for SLS polymer process, which we are actively refining with customers, partners, and standards committees and moving towards mass production. Secondly, as we discussed in January, we're making a shift in our product delivery structure towards a subscription-based software-only solution that can be deployed on 3D printers at a much larger scale with significantly higher gross margins. Instead of selling individual hardware software systems into the retrofit market one at a time, which is time-consuming and costly, we are working towards leveraging the printer's computing infrastructure and embedding our software in thousands of printers from multiple manufacturers. That's what I envisioned when I joined Sigma two years ago. Now it seems that the industry has moved in our direction, increasing collaboration, moving from proprietary to open systems, and committing to standards that allow for the interchange of data and open APIs geared towards optimizing the entire additive manufacturing process. That all points to a very bright future for the entire additive industry, and we intend to play a central role in accelerating the industry's move to serial production. I'll now ask Frank to review the financials for the quarter and for 2021. Frank?