Invitae Corporation

Ladies and gentlemen, thank you for standing by, and welcome to the NVTA's first quarter 2021 financial results conference call. At this time, all participants are in 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 will need to press star 1 on your telephone keypad. If you require any further assistance, please press star 0. Thank you. I'll now turn the conference over to Laura D'Angelo.

Thank you, Operator, and good afternoon, everyone. Thank you for joining us for our first quarter 2021 results call. Joining us today are Sean George, our CEO, Shelley Geyer, our CFO, and Catherine Stooland, our Chief Commercial Officer. As you listen to today's conference call, we encourage you to have our press release available, which includes our financial results as well as metrics and commentary on the quarter. Before we begin, I'd like to remind you that various remarks that we make on this call that are not historical, including those about our future financial and operating results, our plans and prospects, the focus of our business strategy, our plans to integrate and manage businesses we acquire, market opportunities, future products, services, our product pipeline and the timing thereof, demand for and reimbursement of our services, and our investment in our infrastructure and operations constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act. It is difficult to accurately predict demand for our services, and therefore our actual results could differ materially from our stated outlook. Statements on future company performance assume, among other things, that we don't conclude any additional business acquisitions, investments, restructurings, or legal settlements. We refer you to our most recent 10-K, in particular to the section titled Risk Factors, for additional information on factors that could cause actual results to differ materially from our current expectations. These forward-looking statements speak only as the date hereof. To supplement our consolidated financial statements prepared in accordance with generally accepted accounting principles in the United States, or GAAP, we monitor and consider several non-GAAP measures. We exclude from our non-GAAP operating results as applicable amortization of acquired intangible assets, acquisition-related stock-based compensation, post-combination expense related to the acceleration of equity grants or bonus payments in connection with the company's business combinations, adjustments to the fair value of certain acquisition-related assets and liabilities, and acquisition-related income tax benefits. We exclude from our non-GAAP cash burn, as applicable, changes in marketable securities, cash received from equity financing, and cash received from exercises of warrants. In this period, our non-GAAP measures include cost of revenue, gross profit, operating expense, including research and development, selling and marketing, and general and administrative, other income expense, net, as well as net loss and net loss per share, and cash burn. We encourage you to review our GAAP to non-GAAP reconciliations, which are available in the press release and in the earnings slide deck. With that, I will turn the call over to Sean.

Thanks, Laura, and good afternoon, everyone. We've had a very active start to the year, and our progress toward establishing genetic information as the standard of care for patients facing key health care decisions throughout life continues to accelerate. Each patient has an incredibly important and unique journey, whether a family desperately seeking earlier and better answers for a sick child, a woman who deserves access to cutting-edge genetic information as she embarks on having a child, or a cancer patient. who will benefit from the molecular characterization of their cancer, regardless of stage, so they can receive better, more personalized therapy selection and post-treatment monitoring as they fight the most important of fights. It is the collection of these patients in total and our ability to help them that drives our aggressive approach to improving healthcare by bringing genomic information front and center as medicine's new vital sign. We mark our progress toward that goal through the strong results we deliver. Q1 was a great quarter for us, and our key performance metrics indicate that we are steadily shaking off pandemic impacts and looking to rapid expansion in 2021 and beyond. We've taken strong measures to shore up our cash position, adding $1.6 billion to fuel our ongoing mission. We'd like to welcome our new investors and express continued gratitude to all of our shareholders for sharing a long-term vision for how genetics can help transform healthcare for all. Because we've had multiple announcements and opportunities to communicate with investors about financing and M&A activities so far this year, I want to keep today's prepared remarks, focus on our progress in other clinical areas, and highlight the continued build-out of our global genetic information platform. Before we do that, Shelley will walk us through the Q1 quarterly results and outlook for 2021. Shelley?