SomaLogic, Inc.

Good morning and welcome to SomaLogic's third quarter 2022 earnings conference call. At this time, all participants are in listen-only mode. We will be facilitating a question and answer session toward the end of today's call. As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Marissa Beisch with Gilmartin Group Investor Relations for introductory comments.

Thank you. Today, Filmologic released financial results for the quarter ended September 30, 2022. A copy of the press release is available on the company's website. Before we begin, I'd like to remind you that management will make forward-looking statements during this call within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events results or performance are forward-looking statements. All forward-looking statements, including without limitation, those relating to our market opportunity, growth margin and future financial performance, protein content and database growth, customer base, diagnostic pipeline, expectations for hiring, and growth in our organization are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a listing description of the risks and uncertainties associated with our business, please refer to the risk factor section of our most recent Form 10-Q filed with the Securities and Exchange Commission and the section entitled Risk Factors in our most recent annual report on Form 10-K. This conference call contains time-sensitive information and is accurate only as of the live broadcast today November 14, 2022. Somalogic disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. With that, I will turn the call over to Roy Smyth, Chief Executive Officer.

Thank you, Marissa. Good morning, and welcome to our 2022 Third Quarter Update Call. I'd like to start by thanking all who invested and support Semilogic as we continue to successfully translate 20 years of innovation into a more complete understanding of human biology, safer and more effective therapies, and better patient care by leveraging the power of proteomics in ways that no other platform can. The commercial staff and structural reorganization we have previously discussed for our life sciences business, as well as continued commercial growth, are already bearing fruit. We appointed a new leader for life science commercial efforts, moved from a centralized to a business unit structure to align all aspects of our life science commercial efforts, including sales, marketing, and product, under one vertical, and are putting much more emphasis on training for the large number of new sales staff hired over the past year. I'm proud to share that we achieved $41.7 million in revenue for this quarter. Most importantly, We delivered on the imperative to stabilize the life science business and put that effort back on a growth track, with $20.5 million of core revenue, in addition to licensing royalties of $21.2 million. Sean Blakeman, our Chief Financial Officer, will discuss his comments, the components of our top-line revenue, as well as our ongoing cash management initiatives. Our go-forward plan is to thoughtfully focus the bulk of our efforts and internal investment on our life sciences commercial business