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Good day and welcome to the Greensum Industries first quarter 2025 earnings call. All participants will be in a listen only mode. Should you need assistance, please signal a conference specialist by pressing the start key followed by zero. On today's call, management will provide prepared remarks and then we will open the call up to your questions. To ask a question, analysts may press star then one on your touch tone telephone. If you're using a speakerphone, please pick up your handset before pressing the keys. And to withdraw your questions, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Shea Kaplow, Director of Communications for Green Thumb. Please go ahead.

Thank you, Betsy. Good afternoon, and welcome to Green Thumb's first quarter 2025 earnings call. I'm here today with founder and CEO Ben Kotler, President Anthony Georgiadis, and Chief Financial Officer Matt Faulkner. Today's discussions and responses to questions may include forward-looking statements, which are subject to various risks and uncertainties that could cause our actual results to differ materially from those statements. These risks and uncertainties are detailed in the earnings press release issued today, along with the reports filed with the United States Securities and Exchange Commission and Canadian securities regulators. including our most recent annual report filed on Form 10-K. This report, along with today's earnings release, can be found under the Investors section of our website. Green Thumb assumes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call. Throughout the discussion, Green Thumb will refer to non-GAAP financial measures, including EBITDA and adjusted EBITDA. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures is included in our earnings press release and SEC and CDAR Plus filings. Please note that all financial information is provided in U.S. dollars unless otherwise indicated. Thanks, everyone. And now, here's Ben.

Thank you, Shay. Good afternoon, everyone, and thank you for joining our first quarter 2025 conference call. While we only talked a short while ago on our fourth quarter conference call, it certainly feels like a lot has changed. The macro uncertainty created by the tariffs has ripple effects in many places, and there's an elevated sense of angst for businesses and consumers. In addition, we have the early clues where the current federal government is leading on traditional cannabis reform. Despite the tariff fears, demand for THC remains at an all-time high, while pricing pressure persists in many markets. As we have discussed before, when pricing is down 20%, our team must deliver 25% more units to break even. You can't escape that math, so I want to give a major shout out to our team who managed to beat last year's strong first quarter revenue, even in this environment. First quarter 2025 revenue came in at $280 million, about $4 million greater than the comparable period last year. Adjusted EBITDA was $85 million, or 31% of revenue, and our first quarter cash flow from operations was $74 million. As we've said repeatedly, we built our business to succeed regardless of federal change, and from what I can see, that change is not on the agenda for the Trump administration. The DEA has historically not been friendly to cannabis, and the nominee to head up the agency, Terry Cole, was pretty cagey about rescheduling at his recent congressional hearings. Of course, there's always a chance for change, and this administration probably increases the odds of a left-field event, but we certainly can't bet on that. But we can bet on our balance sheet. So I believe we will continue to succeed even with an apparent deck of cards stacked against us. And when the cards are stacked against you, you can either resign to death or choose a different path, an alternative reality which includes success. We've chosen the latter. and therefore we are continuing to evolve as we change our game. We are forging new paths that can realize the value we have created while staying true to our mission. Fortunately, we have the capital resources and a strong balance sheet that we believe will support our long-term plan over the next four years and beyond. What keeps us focused is how we can optimize the long-term opportunity related to consumers. For example, Alcohol has long vied for space in consumers' wallets, but the tide of Americans' preferences is clearly turning. Hangovers might be temporary, but alcohol's lingering impact on health is not, and consumers are taking note. Alcohol consumption is declining, especially among younger adult consumers, and this gives us a long runway for future engagement as THC drinks gain momentum. The THC beverage category is in its early stages of mainstream popularity. And we are bullish on its opportunity as a legal product and are encouraged by both the data on the ground and our position in the space. Our job right now is to continue connecting our top-rated brands like Rhythm, Incredibles, Bebo, and Dog Walkers to satisfy and exciting customer experiences. For example, a few weeks ago, we kicked off our Rhythm Bud Ball Summer Series in New York City for the first time. Bud Ball celebrates the hard work and contributions of cannabis professionals while showcasing the rhythm lifestyle. We are looking forward to sharing that connection between cannabis and music to more Americans across the country as our brand continues to pop up at mainstream music and lifestyle events this summer and beyond. Bud Ball Philly is next week featuring musical guest Philadelphia's own The Roots. Hope to see many of you at that event. Our team has worked long and hard to construct a foundational distinction for GreenThumb. That includes, we have an incredible portfolio of highly regarded products and brands and the innovative drive that attracts great and like-minded partners. We have a relentless team who shows up every day with a genuine commitment and love of the plant. We have a set of very productive assets and a strong position in states where the launch of adult use sales is coming soon, like Minnesota, Virginia, and Pennsylvania. Our ability to generate cash and maintain a strong balance sheet gives us the financial flexibility to build on our track record of high conviction capital allocation. And finally, we have a seasoned and visionary group of leaders who look to the horizon and a team that is dedicated to both our success and our mission. Every day is day one when you play to win, and you win by keeping your head down and executing every day. With that, I'll turn the call over to Anthony.