Staffing 360 Solutions, Inc.

day and welcome to the Staffing 360 Solutions Year-End Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Terri McInnis, VP of IR at Bibicoff and McInnis. Please go ahead.

Thank you, Operator. Greetings to all and welcome to the Staffing 360 Solutions Fiscal Q4 Year-End 2021 Results Conference Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation in which management will answer questions previously submitted via email. As a reminder, this call is being recorded. This conference call will contain forward-looking statements within the meaning of the U.S. Federal Securities Laws concerning Staffing 360 Solutions, Inc. The forward-looking statements are subject to a number of significant risks and uncertainties, and actual results may differ materially. Please refer to the company's filings with the SEC, which contain and identify important risks and other factors that may cause staffing 360 solutions actual results to differ from those contained in our forward-looking statements. All forward-looking statements are made as of today, June 30, 2022, and staffing 360 solutions expressly disclaims any obligation to revise or to update any forward-looking statement after the date of this conference call. During these prepared remarks, the company may make reference to certain non-GAAP measures, such as adjusted EBITDA. Where applicable, we have provided reconciliations of these non-GAAP measures to the most directly comparable GAAP measure. It is now my pleasure to introduce Brendan Flood, Chairman, President, and Chief Executive Officer of Staffing360 Solutions. Brendan, please begin.

Thank you, Terry. And welcome to everyone who has joined us for Staffing360 Solutions Fiscal Q4 and 2021 Year-End Financial Results Conference Call. I'm joined today by Khaled Anwar, our Principal Accounting and Principal Financial Officer. Our much delayed audit is now completed and I'm pleased to speak to you today to briefly review last year's results and our plans for improving upon them and then spend time talking about the brighter horizon before us after our accretive acquisition in May of Headway Workforce Solutions. Headway brings approximately $85 million of revenue and a leading edge proprietary technological platform and delivery methodology critical to the future of national human capital management. Headway sits within our professional staffing U.S. business dream, but we'll also work closely with our commercial staffing business dream. We view Headway as an important value creator for shareholders as it supports and accelerates both our business model and our growth strategy. Although it seems like ancient history now, I think it's worth noting that we successfully navigated the ongoing social and economic vagaries of 2021 and are making a way through those similar conditions in 2022. We've maintained our focus to make the hard choices to continue to position our company for future growth and success. And we now have a materially improving outlook for 2022, improved by our recent acquisition of Headway Workforce Solutions. We continue to make progress across a number of important metrics throughout the fourth quarter of the year, and are now positioned for a particularly strong second half of 2022. There is no doubt about it, 2021 was certainly a challenging year for our industry and for us in particular. We adapted and reacted to the ebb and flow of business and to the differing recovery phases in our markets. We particularly benefited from our early swift and strong reorganization at the onset of the pandemic the lowered overall spending by the company, the capital raises improving our balance sheet, and subsequent meaningful debt reduction. These factors and others combine to leave us optimistic about our ability to deliver materially improved results in 2022.