Cyanotech Corp

Aloha from Kona, Hawaii. Thank you all for joining us today to report Cyanotech's first quarter fiscal year 2025 earnings results. I am Matt Custer, President and Chief Executive Officer of Cyanotech. Joining me on the call today is Felicia Layden, our Chief Financial Officer. 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 10Q and fiscal year 2024 10K report filed with the Securities and Exchange Commission. I'll turn it back to Matt for comments on the quarter. Matt?

This quarter's net sales increased 15% as compared to prior year, primarily due to increased sales of astaxanthin in both our bulk and packaged markets. As we continue to expand our product offerings, we were excited to launch our Hawaiian spirulina gummies in May to complement the astaxanthin gummy product. Our growth in sales for the quarter was offset by lower gross profit. Production has been at a low for the trailing six quarters, resulting in higher costs, which resulted in the gross profit decline. This strategic production management has allowed us to manage both spending and inventory to mitigate cash outflow. Now we turn our focus to meeting this changing demand with a well-managed increase in supply. We have preliminarily secured the financing to ensure we can meet the market demand. We feel positive about the future of our brand and the consumer's interest in sustainable, high-quality dietary supplements. Turning over the call to Felicia to discuss the financial results. Felicia?