Mirion Technologies, Inc.

Miriam, first quarter 2023 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 conference over to your host, Alex Gaddy, Vice President of Finance for Miriam. Thank you. You may begin.

Good afternoon, everyone, and thank you for joining Merion's first quarter 2023 earnings call. A reminder that comments made during this presentation will include forward-looking statements, and actual results may differ materially from those projected in the forward-looking statements. The factors that could cause actual results to differ are discussed in our annual report on Form 10-K and quarterly reports on Form 10-Q that we file from time to time with the SEC under the caption Risk Factors and in Miriam's other filings with the SEC. Quarterly references within today's discussion are related to the first quarter ended March 31st, 2023. The comments made during this call will also include certain financial measures that were not prepared in accordance with generally accepted accounting principles. Reconciliation of those non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the appendix of the presentation accompanying the call today. All earnings materials can be found on Merion's IR website at ir.merion.com. I would also like to call attention to the rebranding initiative we launched on Monday, May 1st, 2023. As a result, our business segment, formerly referred to as industrial, will be called Merion Technologies or simply Technologies in the future. There has been no change to our financial reporting methodology beyond the naming convention for the technologies segment. Joining me on the call today are Larry Kingsley, Chairman of the Board, Tom Logan, Chief Executive Officer, and Brian Shopper, Chief Financial Officer. Now, I will turn it over to our Chairman of the Board, Larry Kingsley. Larry?

Thanks, Alex, and good afternoon, everyone. To get us started today, I wanted to thank everyone dialed in this afternoon for your continued interest and support of Merriam. We are pleased to report strong results to kick off 2023. Our backlog position has increased sequentially. This is a reflection of both favorable end market dynamics and the commercial effectiveness of our team. Results are highlighted by higher than expected revenue growth for the first quarter. This top line performance demonstrates a clear continuation of the positive momentum that we established coming out of Q4. Moreover, we are pleased that we saw strength in both of our reporting segments. He adjusted EBITDA and adjusted gross margin performance were within our expectations for the quarter. We're not as happy, though, with our working capital performance, as it was a drag on free cash flow generation year over year. Tom and Brian will share more details later in the call, but I wanted to note that the team has a robust plan in place to achieve targeted working capital parameters. In particular, the team has a credible strategy to dramatically improve inventory turns. Overall, I believe that the business is well positioned to deliver solid performance in 2023. I'm excited for what the future holds for Merion both this year and beyond. With that, I'll pass the call over to Tom Logan, Merion's CEO. Tom?