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Marpai, Inc.
8/8/2024
Good morning and welcome to the MARPEC second quarter 2024 earnings conference call. All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Please note this event is being recorded. I would now like to turn the conference over to Steve Johnson, Chief Financial Officer. Please go ahead.
Good morning and welcome to the MARPEI second quarter 2024 earnings release webcast. With me this morning is Damian Lamandola, CEO and Director of MARPEI. If you turn your attention to the slide is that we have our required safe harbor and forward-looking statement disclosure.
Hello. Since I became CEO, our team has worked tirelessly on MARPEI's turnaround. As many of you know, I've invested not only my time, but millions of dollars into our company. I have never been more committed to our company and our stakeholders. This commitment stems from what we see in the TPA marketplace, our new leadership, and our employees' commitment to turning Marpay into a positive cash flow company. Our focus has been on profitably growing the company and achieving positive cash flow, which is beginning to manifest in our financial results, including significantly cutting costs right-sizing our balance sheet, and improving our cash from operations. I'm highly encouraged by our improvements. Our sales team has done a great job of repositioning Marpay to new and existing customers. I remind you that our total addressable market is $22 billion and growing. I will now turn the call back to Steve to discuss our financial results.
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