Greenlane Renewables Inc.

Good afternoon, ladies and gentlemen. Welcome to the Green Lane Renewables Inc. First Quarter 2024 Results Conference Call. At this time, all participants are in listen-only mode. Following the results, we will conduct a question and answer session. To join the question queue, you may press star, then 1 on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star, then 0. Today's call is being recorded, and a replay will be available on the Green Lane website. I will now turn the call over to Darren Seed with Insight Capital Markets. You may begin your conference.

Thank you, operator, and good afternoon. Welcome to the Green Lane Renewables first quarter 2024 conference call. I'm joined today by Ian Cain, Green Lane's president and chief executive officer, and Monte Balderson, Green Lane's chief financial officer. Before beginning our formal remarks, we'd like to remind listeners that today's discussion may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Greenland Renewables does not undertake to update any forward-looking statements except as may be required by applicable laws. Listeners are urged to review the full discussion of risk factors in the company's annual information form, which has been filed with the Canadian securities regulators. Lastly, while this conference call is open to the public, and for the sake of brevity, questions will be prioritized for analysts.

Now I'll turn the call over to Ian. Thanks, Darren, and good afternoon, and thank you for participating on today's call. As in my previous conference calls, I will cover some of the results from my last quarter and also comments on my future. We've had a good start to the year, as we recognize a significant improvement in adjusted EBITDA with reduced loss of $0.5 million in Q1 2024 compared to a loss of $1.7 million in Q4 of 2023. Further to the adjusted EBITDA results, our revenue grew 23% over Q1 of last year with $18.1 million in revenue for Q1 of this year. As many of you have followed, our financial goals for GreenLane have been clear and published. We continue to drive towards our goal of positive adjusted EBITDA this year, which also requires us to refill our sales pipeline. We have significant sales activity on the go and look to convert them into purchase orders as soon as possible. With respect to our collaboration agreement with Zag Biogas in Brazil announced a year ago, we started to recognize royalty revenue this quarter, which will help improve our overall business and margin profile and further strengthen our brand presence in Brazil. I appreciate your continued support, especially given the short time frame between our last call and today's call. and I look forward to keeping the public informed of our progress. Also, I want to thank the Greenland employees for their continued hard work and drive. With that, I will now turn the call over to Monty.