Sientra, Inc.

Good day, and thank you for standing by. Welcome to the CIENTRA second quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead.

Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead. Oliver Bennett, General Counsel and Chief Compliance Officer, please go ahead we will include statements that are considered forward-looking statements within the meaning of United States security laws. In addition, management may make additional forward-looking statements in response to your questions. Forward-looking statements are based on management's current assumptions and expectations of future events and trends, which may affect the company's business, strategy, operations, or financial performance. A detailed discussion of the risks and uncertainties that the company faces is contained in its previously filed annual and quarterly reports on Form 10-K and 10-Q and its quarterly report on Form 10-Q that the company filed this afternoon. Actual results may differ materially from those expressed in or implied by the forward-looking statement. The company undertakes no obligation to update or review any estimate, projection, or forward-looking statement. I would also like to note that Cientra uses its investor relations website to publish important information about the company, including information that may be deemed material to investors. Financial and other information about Cientra is routinely posted and is accessible on the company's investor relations website at www.cientra.com. I'd now like to turn the call over to Ron Menezes, Cientra's President and Chief Executive Officer. Ron.

Thanks, Ali, and thank you all for joining us today for our second quarter 2021 earnings call. Let's begin by welcoming Andy Schmidt, our new Chief Financial Officer. Andy joined us last month and has already hit the ground running assessing our financial performance. Later, you'll have an opportunity to hear from him on how Cientra is in great financial position to support our rapid growth. On the call today, I'd like to share some of the highlights of our recent progress and why we're very excited about where Ciantra's headed. Once again, Ciantra has delivered outstanding results in the second quarter, which includes record revenue of $20.1 million from our brass product business, reflecting year-over-year growth of 116%. We're especially encouraged by the increased acceleration of sequential growth that resulted in almost 10% improvement over the first quarter of 2021, nearly 80% growth over pre-COVID levels in the second quarter of 2019. We estimate the overall breast augmentation market to have grown 1.5% in second quarter 2021 compared to second quarter 2019. and it is encouraging to see market recovery and demand for breast aesthetics start to surpass pre-COVID levels. More importantly, it is exciting to see revenue growth from our augmentation business significantly outpacing the market, increasing 142% in second quarter 21 versus second quarter 2020, and 121% versus second quarter 2019. These results clearly demonstrate that we are making notable progress towards our goal of being a top two implant and expender company in two years by taking sizable market share. Following the successful closing of the sale of our Miradry business, Ciantra is now only focused on the plastic surgery market, enabling us to channel all of our resources into one dynamic and rapidly growing sector of aesthetics. This focus is reflected in our results, with our commercial execution in the second quarter generating the highest breast product revenue in the company history. Additional commercial execution includes an increase in our sales rep productivity. Our sales rep territory revenue grew 25% in the first half of 2021, and we're seeing this trend continue to improve as we enter the second half of this year. As you know, our business today is focused on two primary plastic surgery markets, breast augmentation and breast reconstruction. Augmentation is our primary growth driver today, leveraging a very strong market. We'll continue to build on our strong momentum from the first quarter, with key high-growth strategies extended through Q2 that are demonstrating traction, substantially outperforming market growth, as I noted earlier. The number of accounts reached the highest level in Cientra's history, growing 13% over Q1 2021 to a new base of over 2,400 accounts. However, most of our growth continues to come from existing accounts, demonstrating our ability to drive sustainable growth through execution of our commercial strategies. During the second quarter, our mid- to high-tier accounts which drove nearly 50% of our volume in the quarter, grew almost 200% versus second quarter 19, and 170% versus second quarter 2020. As part of our strategy to get patients to ask for Cientra by name, we have been very successful through digital patient acquisition, which has referred over 10,000 patients to plastic surgeons practice year to date. In Q1, we referred over 3,000 patients to surgeons, and in the past quarter, we nearly doubled that number to over 6,000 referrals. In a recent survey with 150 potential breast aug patients, Ciantra's brand recognition has gone up from 16% to 22% versus last year's data, putting us in the number two position among all brands in the survey patients. Those patients heard about Ciantra from surgeons, friends or family and our company website. We'll also expect our physician loyalty program to increase repeat purchases and expand market share in current accounts. Now turning to our reconstruction business. Our industry-leading product advantages in this space continue to be recognized and appreciated by surgeons, hospitals, and patients. This past quarter, we added more than 140 new hospital accounts. and our recon revenue was 61% higher than Q2 2019 and 100% higher than second quarter 2020. In addition, as we announced last quarter, we are leveraging the butterfly ultrasound devices to gain new accounts. This partnership has proven to be an advantage over competition for our reconstruction clinical managers to get new contracts for local hospitals. Now, looking at the second half of this year, we're excited because we see a strong augmentation market. Our survey of 150 potential patients uncovered that breast augmentation is in the top three aesthetic procedures where they're choosing to spend money. As a matter of fact, 75% of them are thinking about getting breast aug within the next 12 months, reinforcing the rebound of the market. And during our most recent surging interactions, They have highlighted that despite some vacation plans, many of them are booked for surgeries well into the fourth quarter. And Cientra will continue to fill this momentum in the second half through a range of initiatives. They include continued improvement on our Surgeon Loyalty Program by adding additional benefits and incentives to grow volume tiers. We're going to be partnering with patient influencers to expand our reach with real-world stories that reinforce our position of safety, trust, and differentiation. We plan to increase our digital presence to generate more brand awareness and interest. And we'll be launching the Sientra Academy training to guide the patient's path to the surgeon's office and booking a procedure. We'll also be adding additional support in the reconstruction business to highlight our product's clinical advantage. We'll be increasing our peer-to-peer education as physicians are once again participating in live events. And we'll be starting digital and social outreach, targeting surgeons and hospital decision makers. Before I turn the call over to Andy to cover our financial results in more detail, I want to highlight the addition of three dynamic women to the CIENTRA leadership team. In June, Denise Diles joined us as Vice President of Research and Development. Denise has already begun making exciting contributions to our product pipeline and will look forward to sharing more of those plans later this year. In addition, we recently added Dr. Irina Ehrenberg and Nori Ebersole to our board of directors. We expect that their experience in medical aesthetics will prove invaluable as we continue to take share in the overall breast products market. Adding greater diversity to our organization continues to be a critical objective for Cientra. We're proud that half of our board of directors and half of our executive leaders are female, which is a competitive advantage for our company as we continue to focus on becoming the leaders for bringing transformative treatments to progress the art of plastic surgery. I'll now turn the call over to Andy for a more detailed review of our second quarter financial results. Andy.