Marpai, Inc.

Good day, and thank you for standing by. Welcome to the MarPi third quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. A brief 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. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Paul Kuntz with MarPi's investor relations team. Please go ahead.

Thanks, Paul. And welcome, everyone, to MARPE's first fiscal quarterly earnings call as a public company. With me on today's call are MARPE's Chief Executive Officer, Edmundo Gonzalez, and Chief Financial Officer, Joram Bibring. Before we turn the call over to Edmundo, please note that we'll be discussing certain non-GAAP financial measures that we believe are important when evaluating MARPE's performance. Details on the relationship between these non-GAAP measures to the most comparable GAAP measures and the reconciliations thereof can be found in the press release that is posted on our website. Also, please note that certain statements made during this call will be forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause the actual results for MARPE to differ materially from those expressed or implied on this call. For additional information, please refer to our cautionary statements in our press release and our filings with the SEC, all of which are available at marpehealth.com. And with that, I will now turn the call over to MARPE's CEO, Edmundo Gonzalez. Edmundo? Edmundo?

Thanks, Paul, and good afternoon to everyone. Thank you for joining us. It's a pleasure to be here on our first earnings call after our IPO. Before talking about the quarter, I wanted to share some information about our company's strategy and what this will mean in the quarters to come. We are a technology company, bringing some of the latest advances in artificial intelligence into the health plan space in the United States. We are going to market as a healthcare payer focused on clients who are self-funded. That is, clients who have chosen not to buy traditional insurance, but rather who pay for healthcare claims for their employees as they occur. Marpay partners with these employers and administers all of their healthcare benefits. Our products and services are very differentiated when compared to other healthcare payers. This is due to our use of advanced AI, which allows us to predict certain costly events in the employee populations we serve. This means that we can predict events that will not only impact a plan member's life, but that are also likely to generate big claims for our clients. By predicting a costly event before it happens, our care team focuses on getting the member to the right care. The mix of AI-driven prediction, And a very human intervention is what allows us to accomplish our mission of improving lives, saving lives, and saving our clients a lot of healthcare costs. Now, we have a two-pronged strategy. First, we are deploying our AI to create a very efficient payer. My goal is to take the cost of administering a claim to about one-third of what it is now in the industry. This will take some time. but we have already made much progress on this journey. At scale, this will mean very efficient operations driven by AI. Second, we continue to develop our ability to predict costly events related to chronic conditions, which account for about two-thirds of all healthcare spending. Our AI models are also showing good results in predicting certain orthopedic procedures months before they occur. Our goal here is to get members to the right care early. This makes a difference in members' lives and potentially prevents costly events like an ER visit or hospitalization. Now, in the area of orthopedic procedures, we can't prevent these events, but we can steer members to the right care from both a quality and a cost perspective. This is what saves our clients money. Prediction of health events is an area of continued investment and a source of high differentiation. Our strategy is working. We are growing as evidenced by our revenue numbers, but more importantly, we have planted the seeds for future growth by investing in sales and marketing this year. We have brought in very senior level sales and marketing teams, and we have reinvented marketing in this space. The approach is working. We now have approximately three times the amount of RFPs as we had last year at this time. This will pay off in 2022. Moving on to the quarter and the latest developments, I will let Joram provide you with the details, but the good news is that in the third quarter, we experienced growth of approximately 23% in the number of employee members that we serve, and we experienced revenue growth of 22% in Q3, versus Q2. I would like to mention one important win for us in the quarter, which is a series of school districts in Texas. Together, these clients brought us approximately 4,500 new employee lives. We are working closely with our broker partner in Texas and we believe this could be the beginning of a practice area focused on local school districts and other local government agencies. While you can see in our guidance that we expect nice growth in the fourth quarter of 2021, I do want to remind you that the health benefits business, both the fully funded and self-funded, is volatile, as employers tend to shop for alternatives often. So while we are very confident about our long-term growth, which will be fueled by our unique competitive advantage, having some turbulence along the way is just part of the journey. Before I hand it over to Yoram, who will discuss the results and guidance, I want to thank our employees for their hard work and dedication, as well as our legacy and new investors for supporting us and providing us with the financial resources that we need to execute on our strategy. Yoram?