ZimVie Inc.

Good afternoon, and welcome to ZMD's second quarter 2024 earnings conference call. Currently, all participants are in a listen-only mode. We will be facilitating a question and answer session towards 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 from Gilmartin Groups for introductory disclosures.

Thank you all for joining today's call. Earlier today, Zimby released financial results for the quarter ended June 30, 2024. A copy of the press release is available on the company's website, zimby.com, as well as on sec.gov. Before we begin, I'd like to remind you that management will make comments during this call that include forward-looking statements. Actual results may differ materially from those indicated by the forward-looking statements due to a variety of risks and uncertainties. Please refer to the company's most recent periodic report filed with the SEC and subsequent SEC filings for a detailed discussion of these risks and uncertainties. In addition, the discussion on this call will include certain non-GAAP financial measures. Reconciliations of these measures to the most directly comparable GAAP financial measures are included within the earnings release and or the investor deck issued today found on the investor relations section of the company's website. This conference call contains time-sensitive information and is accurate only as of the live broadcast today, August 1, 2024. Zimbi 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. And with that, I will turn the call over to Vasa Jamali, President and Chief Executive Officer of Zimbi.

Thank you, Marisa. Good afternoon, and thank you all for joining us. I'm pleased with our execution in the second quarter, achieving revenue of $117 million as we continue to innovate across our portfolio of implants, biomaterials, and digital solutions. We have also advanced our efforts to improve the margin profile of our business, right-size corporate costs, and optimize our operational footprint. Meanwhile, we continue to invest and scale our differentiated solutions to give our patients and providers the best possible outcomes. I'll now provide an update on each of our product portfolios, starting with dental implant portfolio. We see strong commercial traction with our newest line of implants, the TSX and the T3 Pro. We believe that we continue to gain market share as we strive to expand the implant dentistry market. During the quarter, we launched a series of meaningful innovations to our implant offerings to strengthen our already comprehensive portfolio of surgical tools, abutments, and restorative components. Last week, we announced the FDA clearance of the U.S. launch of Gentech restorative components, expanding Zimbi's portfolio of end-to-end prosthetic offerings. We first launched the Gentech portfolio in Europe in 2019 and have seen tremendous success in that market to date. These components support digitally driven CAD-CAM restorations and are designed to provide the best fit and a tight seal, crucial to implant success, supporting the long-term aesthetic and functional restorations. The introduction of Gentec to the U.S. market brings a broad offering of differentiated restorative components to the Zimbi product family. We like this segment and we look forward to competing here. As of July, we have gained 510 clearance for an expanded portfolio of titanium bars for our Belotec abutments, growing its selection to include the most widely adopted full-arch restorative platforms to support some of our most complex procedures. We will continue to deliver innovation across our implant portfolio in support of gaining competitive market share while simultaneously driving the expansion of the implant industry market as a whole. Now turning to our best-in-class biomaterials portfolio. During the quarter, we drove modest growth in biomaterials offerings. Providers are recognizing the quality and efficacy of our portfolio bone graft substitutes, membranes, tissue products, and regenerative products. In this segment, our growth continues to outpace market growth. We believe this may serve as a future leading indicator for growth in our implant offerings. We look forward to continue to innovate within this portfolio throughout the back half of 2024 and beyond. Finally, we saw strong growth in our digital portfolio, which aims to provide customers with greater efficiency in their workflow. Our complete digital portfolio, including iTero scanner sales, grew high single digits in the second quarter, as a result of our commitment to driving penetration by making implants more accessible and efficient procedure for providers. The increase was driven in part by over 20% growth in our implant concierge service. Implant concierge removes hours of labor and cost by providing outsourced treatment planning, services, and guided surgery solutions, taking significant workflow out of the dental office. We believe this service represents a large unmet need where the size of the market for implant concierge could be equivalent to that of the premium implant market. Additionally, we drove over 20% growth in surgical guide sales with RealGuide software. On this note, we recently announced the release of version 5.4 of our RealGuide software. The most significant enhance in this version is a one-click nerve detection and automated bone and tooth segmentation. These features greatly increase safety and accuracy in less time. 5.4 also introduces a new cloud library updates and efficiency tools to streamline the customer's design experience. All of these features are aimed to enhance our ability to deliver quality, efficiency, and time savings in treatment planning and assortment design for both patient and the clinician. I'm also very excited to announce our newest scanner partnership with Medit. We are now distributing this powerful imaging solution alongside our existing suite of technologies, expanding our addressable market with a broader range of scanner price points and technologies. The MED-IT scanners include iOS-driven apps and integration opportunities that help us create a seamless experience with the rest of Zimbi's digital solution suite. We expect these features to enhance the adoption of downstream products based on digital imaging. We remain very excited about the growth potential of our digital solutions and believe they are a critical piece of the strategy to improve the workflow of dental offices and ultimately reduce barriers to implant adoption. Beyond product introductions and innovations, medical education and training are greatly aiding the adoption of our technologies. To date, we've trained over 1,400 providers on our products and technologies. Our programs are booked out through December 2025 as we continue our focus on expanding our presence in the market and in the field of implant dentistry as a whole. Our commercial advantage continues to stem from the value we deliver across our stakeholders, patients, clinicians, and the dental lab. Our second quarter results reflect the resilience of our portfolio and our team's continued commitment. I will now turn the line over to Rich to review our financial performance and forward outlook in greater detail.