Cyanotech Corp

Aloha from Kona, Hawaii. Thank you all for joining us today. I am Matt Custer, President and Chief Executive Officer of Cyanotech. Joining me on the call today is Felicia Layden, our Chief Financial Officer to report Cyanotech's fourth quarter and fiscal year 2024 earning results. I will turn the call over to Felicia to provide our forward-looking statement.

Thanks, Matt. Our discussion today may include forward-looking statements. We do not undertake any obligation to update forward-looking statements. either as a result of new information, future events, or otherwise. Our actual results may differ materially from what is described in these forward-looking statements. Some of the factors that may cause results to differ are listed in our publicly filed documents. For additional information, we encourage you to review our 10-K Fiscal Year 2024 report filed with the Securities and Exchange Commission. I will turn it back to Matt.

Matt? Thank you, Felicia. Although the year was filled with challenges, our team effectively managed spending, production, and inventory to conclude the year with only slightly increased debt of $209,000. Our sales were essentially flat with prior year. However, the product mix shifted as we saw an increase in our package sales. This increase was offset by declines in spirulina bulk sales as the market for bulk material is increasingly price sensitive, with many companies sourcing lower-priced international ingredients. Our realigned commercial function continues to expand on and create market awareness with strategic initiatives. These initiatives include restructuring the sales team to bolster both the business-to-business and business-to-consumer channels, aligning our selling materials and messaging with our commitment to transparency and sustainability, and refining our core value proposition to emphasize and educate the consumer about our high-quality farm-direct and responsibly grown products. We have also expanded our product offerings by launching our BioAst and Hawaiian Astaxanthin and Hawaiian Spirulina in new convenient gummy formats. As we look forward to the next year and the increasing interest we are currently seeing in our products, along with the new product offerings, we are now turning our focus to meeting this demand with a well-managed increase in supply. We have preliminarily secured the financing to ensure we can meet market demand. Now I'd like to turn over the call to Felicia to discuss the financials. Felicia, please.