Local Bounti Corporation

Greetings, and welcome to the Local Bounty Fourth Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation, and you may press star one at any time to be placed into question queue. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Jeff Sonick, Investor Relations. Jeff, please go ahead.

Thank you, and good afternoon. Today's presentation will be hosted by Local Bounty's Executive Chairman, Craig Hurlburt, and President, Chief Executive Officer, and Chief Financial Officer, Kathleen Valasek. The comments made during today's call contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are considered forward-looking statements. These statements are based on management's current expectations and beliefs as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results discussed in the forward-looking statements. Some of these risks and uncertainties are identified and discussed in the company's filings with the SEC. We'll also refer to certain non-GAAP financial measures today. Please refer to the press release, which can be found on our investor relations website, investors.localbounty.com, for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures. And with that, I'd now like to turn the call over to Craig. Craig, please go ahead.

Thank you, Jeff, and good afternoon, everyone. Today marks an important transition for Local Bounty as I step into the role of executive chairman, and we welcome Kathy Valasek as our new chief executive officer. After co-founding this company and serving as its CEO through our formative years, I believe this is the right time for this next step in our leadership evolution. Kathy has been instrumental in driving our organization forward as the president and CFO, demonstrating exceptional leadership and strengthening our commercial and financial relationships. Kathy's strategic vision, operational expertise, and financial acumen make her the ideal person to lead Local Bounty forward. I look forward to continuing my support of the company's strategic initiatives and commercial efforts. I'm incredibly confident that with her guidance, we will continue to innovate, optimize our operations, and create meaningful long-term value for our stakeholders. We believe we are at a true inflection point for Local Bounty, marked by the transformative financing we secured and the restructuring of our balance sheet. These achievements position us well for the next chapter of growth under Kathy's leadership. Before I continue, I'd like to take a moment to express my sincere gratitude to our exiting board members, Ed Forrest, and Jennifer Carr Smith for their dedicated service to Local Bounty. Particularly, Ed's guidance and expertise were invaluable during our restructuring process, and I'm personally grateful for his contributions during this critical period. What's particularly encouraging is the strong pull we're seeing from our customers. Their increasing desire to purchase more CEA products validates our mission and reinforces the market opportunity ahead of us. We're committed to meeting this growing demand with our sustainable, locally grown produce. None of our progress would be possible without the remarkable team we've built here at Local Bounty. I'm constantly inspired by the passion and dedication of our employees. Their commitment to our vision has been the driving force behind our achievements. And we truly have a tremendous team that will continue to propel us forward. With that, I'll now turn the call over to Kathy.