Goodfood Market Corp.

Good morning, ladies and gentlemen, and welcome to the Good Food Q4 and fiscal 2024 earnings call and webcast. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session, and instructions will be provided at that time for you to queue up for questions. Please note that questions will be taken from financial analysts only. If anyone has any difficulties hearing the conference, please press the star followed by zero for operator assistance at any time. I would like to remind everyone that this conference call is being recorded today, November 27 at 8 a.m. Eastern Time. Furthermore, I would like to remind you that today's presentation may contain forward-looking statements about Good Foods' current and future plans, expectations and intentions, results, level of activity, performance, goals or achievements, or other future events or developments. As such, please take a moment to read the disclaimer on forward-looking statements on slide 2 of the presentation. Please be aware that during the call, presenters will refer to certain metrics and non-IFRS measures. Where possible, these measures are identified and reconciled to the most comparable IFRS measures in our MD&A. Finally, let me remind you that all figures expressed on today's call are in Canadian dollars unless otherwise stated. I would now like to turn the meeting over to your host for today's call, Jonathan Ferrari, Good Food Chief Executive Officer. Mr. Ferrari, you may begin.

Thank you. Bonjour à tous et bienvenue à l'appel conférence de marché Good Food pour présenter nos résultats financiers du quatrième trimestre de l'exercice 2024, clos le 7 septembre. Good morning, everyone, and welcome to this call for Good Food Market Corp. to present our financial results for the fourth quarter of fiscal 2024, ended September 7th. I'm joined on the call today by Neil, Good Foods President and Chief Operating Officer, and Ross, Chief Financial Officer. This morning, we announced our Q4 and fiscal 24 results. You can find our press release and presentation on our website and CDAR. All figures in today's call are expressed in Canadian dollars unless otherwise noted. Let's start with slide three. Fiscal 2024, marking Goodfood's 10-year anniversary, has been transformative for our company with significant advancements in profitability and cash flow generation, starting with adjusted EBITDA, which nearly doubled year over year. For fiscal 2024, adjusted EBITDA reached $9.1 million, representing a margin of 6% compared to 4.7 million, or a 3% margin in fiscal 2023. This 93% growth in adjusted EBITDA reflects the structural efficiencies we've implemented, strong cost discipline, and optimized pricing strategies that are now firmly embedded in our operations. Free cash flow generation has been equally strong. For fiscal 2024, we achieved $7.6 million in adjusted free cash flow, marking a pivotal moment for Good Food, as this is our first full year of free cash flow generation. This has allowed us to reduce leverage by nearly two full turns, bringing our net leverage ratio down from 4.4 turns in fiscal 2023 to just 2.5 turns today. This not only strengthens our financial flexibility, but also positions us to invest confidently in future growth opportunities. On top of the financial accomplishments, we've continued to enrich our customer value proposition. Over the past year, we've added a record number of new recipes to our offering, giving more variety and choice than ever before. We've also expanded our value plan, which delivers delicious recipes at just $9.99 per serving, making high-quality home cooking accessible to more Canadians. This focus on affordability has been key in addressing evolving consumer preferences and broadening the customer base we have access to. Finally, I'm excited to highlight that we've begun executing on our acquisition strategy, which was discussed in previous quarters. Our acquisition of Genuine Tea, a leading Canadian third-wave craft tea company, marks the first step in building a platform of next-generation brands. This acquisition is accretive to adjusted EBITDA and aligns perfectly with our vision of building a portfolio of founder-led, high-growth and profitable businesses. With a strong foundation of financial discipline, innovative customer offerings, and a roadmap for growth, we're entering fiscal 2025 with momentum.

On that note, Ross will now go over our financial performance in greater detail. Thank you, John, and good morning, everyone.