BRC Inc.

Greetings and welcome to the Black Rifle Coffee Company fourth quarter and full year 2021 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the call over to Tanner Doss, Vice President of Investor Relations. Thank you. You may begin.

Good morning, everyone. Thank you for joining Black Rifle Coffee Company's conference call to discuss our 2021 financial results, which were released this morning and can be found on our website at ir.blackriflecoffee.com. With me on the call today is Evan Hafer, founder and chief executive officer, Tom Davin, co-chief executive officer, Toby Johnson, chief operating officer, and Greg Iverson, chief financial officer. Before we get started, I would like to remind you of the company's safe harbor language, which I'm sure you are familiar with. On today's call, management may make forward-looking statements including guidance and underlying assumptions. Forward-looking statements are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. For a further discussion of risks related to our business, please see our previous filings with the SEC. This call will also contain non-GAAP financial measures such as adjusted EBITDA and adjusted EBITDA margins. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included on the earnings released, furnished to the SEC, and also available on our investor website. Now I'd like to turn the call over to Evan Hafer, founder and chief executive officer of Black Rifle Coffee Company.

Thanks, Tanner, and good morning, everyone. Let me start by thanking you for joining our first earnings call as a publicly traded company. You may have heard me say before, but I think it's worth repeating. I first started Black Rifle Coffee Company as a way of connecting people, honoring the generations of brave men and women that have served and continue to serve this country. I believed it would also be a way to give back to our veterans, both as an employment opportunity and through philanthropy, and with the utmost appreciation to their service. With help from fellow veterans Matt Best and Jared Taylor, We generated over 1.3 million in direct to consumer sales during our first year of business from my garage. And I was still able to contribute and give back to the veteran community through a nonprofit. That commitment to veterans has been central to our mission, including the hundreds of thousands of pounds of coffee we've donated to the military and first responder units across the United States and the globe. In 2021, We also donated more than $3 million of value in coffee to the front lines and over $1.2 million to the veteran and first responder charities. We've also set a bold hiring goal to hire 10,000 veterans to join us in expanding our mission. Our vision for Black Rifle Coffee Company as a public benefit corporation is to become one of the few public companies dedicated to supporting the veteran community by inspiring them to both become entrepreneurs and hiring them to join our team and serving them through our charitable work. I'm thrilled that we are all here today and look forward to building a great company and delivering strong results. Let's get right to it and talk about our strong fourth quarter and our fiscal year. 2021 results. On February 10th, we successfully closed a merger with Silverbox Engaged Merger marking a significant milestone for the company as we begin to trade on the New York Stock Exchange. This offering enabled us to pay off debt, preferred stock, and add $150 million to our balance sheet, eliminating what had previously been a capital constraint. Everyone who worked to make this contribution a success has my deepest gratitude. With our outstanding management team, and our strong board of directors, we are confident that we are ready to capitalize on the significant opportunities we see on the horizon. Our key strategic investment areas include increasing capacity for roasting premium coffee, fully funding our continued growth of the company and owned outposts, adding key senior leaders to enhance the capability to execute in existing and planned channels, supporting the veteran, active duty military, and first responder communities. As you will hear later from the co-CEO, Tom Davin, and the CFO, Greg Iverson, we have built a mission-driven consumer brand with an incredibly loyal customer base, which has resulted in strong financial performance this past quarter and year. We grew our revenues by over 42% to $233 million, delivered coffee to our 2 millionth direct-to-consumer customer, and significantly added to our outposts and wholesale doors. We believe we are just getting started to see the significant opportunities for continued growth. While demand for our products has never been stronger, our aided brand awareness is still below 20% nationally and only 17% among the core military and veteran-affiliated audience. To drive awareness and build our community, we will continue to shift our marketing efforts from paid media to owned media. Through our investments in influencers, brand ambassadors, podcasts, sports, and the Spartan Race series, One example of our new brand ambassador partnerships is with Travis Pastrana, who is one of the best known action sports athletes in the world. He's a six times X Games gold medalist and the founder of Nitro Circus. We are in the process of creating what we refer to as tentpole content with Travis that will appeal to our core community as well as a much broader global audience. For example, Travis's 2021 Gymkhana video exceeded 47 million views on YouTube. BRCC will be front and center in the next Gymkhana to be released later this year. Another example of owned media is our Coffee or Die blog, where we have full-time writers covering veteran-related topics in the U.S. and abroad. In fact, we have three writers on the ground in the Ukraine right now providing real-time news for Coffee or Die, the only coffee company in the world providing real-time news from the ground with veteran war correspondence. We expect these marketing initiatives to improve our brand awareness and help Black Rifle Coffee meet our 2022 financial goals. I'm excited for the next chapter in the Black Rifle Coffee Company story and all the significant opportunities we have ahead. With that, I'll turn it over to Tom.