Tabula Rasa HealthCare, Inc.

Good day, and thank you for standing by, and welcome to the Q4 2021 Tabula Rasa Healthcare, Inc. Earnings Conference Call. At this time, our participants are on 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 this call is being recorded. If you require any further assistance, please press star 0. I would not like to hand the conference over to your host today, Kevin Dill, General Counsel. Please go ahead.

Thank you and good morning. I'm Kevin Dill, Corporate Counsel for Tabula Rasa Healthcare. The company intends to avail itself of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain statements made during this call will be forward-looking statements within the meaning of that law. These forward-looking statements are subject to risks, uncertainties, and other factors that could cause Tabula Rasa Healthcare's actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include the developing nature of the market for technology-enabled healthcare products and services and potential changes to laws and regulations that may impact our clients. For additional information on the risks facing Tabula Rasa Healthcare, please refer to our filings with the SEC, including the risk factors section of our 10-K, which will be filed today. Recording of this call is accessible through a link on the investor relations page of our website, and it will be available for 90 days. I'll turn the call over to Dr. Calvin Knowlton, CEO, chairman, and founder of Tabula Rasa Healthcare.

Thank you, Kevin. Good morning, everyone. This morning, we're going to outline three salient points to maximize long-term value for our shareholders. And with COVID behind us, the first point is that we're going to demonstrate today that we have a very solid foundation for continued strong growth in our care-vention healthcare business. Second, we also will reveal how we are taking a different approach in our MedWise healthcare business to accelerate growth. And third, we will discuss initiatives that are underway to improve profitability, strengthen the balance sheet, and become cash flow positive by third quarter and thereafter. So for the next 15 minutes, we will discuss how we are executing on these Strive to Thrive initiatives. To delve into these three areas, I did want to provide a short summary on our fourth quarter results. First, fourth quarter revenue increased organically 11 percent year-over-year to $85.7 million, and that's at the high end of our guidance. The first half of 2021 saw 6 percent growth in revenue, while the second half saw 16 percent growth. We generated fourth quarter adjusted EBITDA of $4.3 million within our guidance range, and also $1.5 million of positive free cash flow. This is one of the several important steps as we begin executing on our focus to materially strengthen our balance sheet. Last November, we mentioned three tactics toward maximizing long-term value for our shareholders. And while we have further work ahead of us, We have made significant progress in this short time since our last earnings call. I'm going to go over those three tactics. Number one, we said that we're going to have organizational leadership changes to better align strategy, product, and sales. And what did we do? We promoted Brian Adams to co-president of TRHC, and I am delighted to announce that we hired Tom Cancro as chief financial officer. This will allow Brian to focus 100% of his time on his new role, which he'll explain shortly. Tom is with us today in Moorestown, participating in his first earnings call with Cagnarasa. We also restructured our senior leadership team, resulting in $3 million in annual savings. The second tactic we mentioned was we were evaluating options to unlock the value of non-core assets. On February the 9th, we announced a letter of intent from a well-qualified buyer to purchase our DosMeRx business. This decision will help us strengthen our focus on our three key markets, health plans, including PACE, at-risk provider groups, and community pharmacies. We are continuing to evaluate other non-core assets that could unlock additional sharehold value and expect this process to run through the next few months. These decisions are being made in conjunction with our new strategy and are designed to materially enhance our balance sheet. We will not make further comments related to DOSME or other potential transactions at this time. In addition to the organizational leadership changes and evaluating divestiture of non-core assets, tactic three was exploring new strategic and transformational relationships. Since our last earnings call, we have been incredibly active. in identifying, engaging, and cultivating several strategic initiatives with companies that could scale our MedWise division using our MedWise platform in new endeavors, as well as partners that can help us optimize our business process and generate cost savings. We announced in our earnings release a few of these partnerships, including one for business process outsourcing in our carevention TPA business. We expect this partnership to generate multi-million dollar savings on an annual basis going forward. And Brian will highlight some more specifics. So at this time, I'd like to turn it over to Ursula to report on our CareVention Healthcare Division, and then to Brian on our MedWise Healthcare Division, as well as to review our financials. Ursula?