Jamieson Wellness Inc.

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Good afternoon, everyone. Welcome to the Jameson Wellness Conference call to discuss the financial results for the third quarter of 2021. At this time, all participants are in listen-only mode. Later, we'll conduct a question-answer session, and instructions will be given at that time. Please be advised that the reproduction of this call in whole or in part is not permitted without the written authorization from the company. As a reminder, today's call is being recorded. On the call today for management are Mike Pilato, President and Chief Executive Officer, and Chris Snowden, Chief Financial Officer and Corporate Secretary. Before I turn the call over to Mr. Pilato, please note that a press release covering the company's third quarter 2021 financial results was issued this afternoon, and a copy of that press release can be found in the investor relations section on the company's website. Please note that the prepared remarks which will follow contain forward-looking statements and management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance and therefore undue reliance should not be placed upon them. We refer you to all risk factors that contained in Jameson's press release issued this afternoon and in filings with the Canadian securities administrators for a more detailed discussion of the factors that could cause actual results to differ materially from those projections and any forward-looking statements. The company undertakes no obligation to publicly correct or update the forward-looking statements made during the presentation to reflect future events or circumstances. except as it may be required under applicable securities laws. Finally, we would like to remind listeners that the company may refer to certain non-IFRS financial measures during this teleconference. A reconciliation of these non-IFRS financial measures was included with the company's press release issued earlier today. Also, please note that unless otherwise stated, All figures discussed today are in Canadian dollars and are occasionally rounded to the nearest million. I will now turn the call over to Mr. Pilato to get started. Please go ahead, sir.

Thank you, Justin, and good afternoon, everyone. Thanks for taking the time to join us today to discuss our third quarter 2021 financial results. I'll begin with some high-level comments about our business, a brief overview of our third quarter results, And then I'll turn it over to Chris to go through the financials and guidance in more detail. Jamieson's global platform provides an excellent lens from which to gauge consumers' attitudes about health and wellness. It's no longer accurate to talk about a temporary elevation in demand. Vitamins, minerals, and supplements have become a permanent part of the self-care routines of more consumers around the world. In the wake of COVID-19, we have experienced a true step change affecting consumers on a much broader, and deeper level as they seek to optimize their health and well-being for the long term. At Jameson, we continue to adapt, invest in, and focus on meeting this rising demand across the growing base of consumers. Strategically, we remain focused on three core drivers. First is expanding our market-leading position in the domestic Canadian market. Second is our focus on continuing to build our brand in China, which we believe to be our single largest organic growth opportunity. And third is leveraging the power of our brand and platform to capitalize on existing and new opportunities in other international markets. Operational excellence is the core competency of Jamison, and we continue to emphasize strategies and tactics to optimize performance across all aspects of our business, driving both top line and bottom line growth. We are operating successfully in unprecedented times and in an environment of unprecedented global supply chain pressures. As evidenced by our Q3 results, our 2021 pricing actions impacting approximately 80% of our portfolio, our drive for internal efficiency, and our cost savings initiatives have allowed us to protect our strong margin position so we can continue to invest in our brands. We remain committed to continuing our historical track record of margin expansion over the long term and continue to monitor the current supply chain environment. Similarly, we have been very forward-leaning in our marketing efforts, broadening awareness, attracting more consumers to our brands, and driving higher level of engagement with existing consumers. We've been investing in consumer education using an omnichannel approach that provides 360-degree connectivity across traditional, digital, and social channels. Coupled with our ongoing initiatives to broaden distribution domestically and internationally, from e-commerce to traditional brick-and-mortar channels, we are meeting consumers where they want to be met. Based on our positive year-to-date results and our favorable demand outlook, we are increasing our revenue guidance and narrowing our adjusted EBITDA expectations to the top end of our previous range, which Chris will speak to in greater detail shortly. Now turning to our Q3 results, we had another successful quarter, increasing revenue by more than 6% to $112 million and adjusted EBITDA by 11% to over $25 million. We drove growth of of 4% domestically, with shipments trailing very strong consumption due to replenishment timing of retailer inventories in the second quarter. International was up 7% in constant currency, reflecting continued growth in China, partially offset by the timing of replenishments to other regions in the first and second quarter of 2021. Strategic partners revenue increased 18% to over $27 million due to expanded programs with new and existing customers. We are extremely proud of our gross margin increase of 30 basis points in the third quarter, led by our Jamison brand segment gross profit margin expansion of 130 basis points and strategic partners expansion of 40 basis points, despite elevated logistics costs and supply chain headwinds. As Jamison closes in on the century mark in delivering high quality innovative products to our valued consumers, I'm struck by the hard work, dedication, tremendous energy and excitement around our entire organization and its positive implications for the future. We know that our best days certainly lie ahead. Our team continues to be united and energized by our vision to improve the world's health and wellness, and their dedication to this vision continues to drive exceptional results. In the face of incredibly challenging conditions throughout the pandemic, our team's proactive approach to safety was a critical factor, enabling us to continue to provide the products our consumers need. We remain focused on the health and safety of our team and our community as we continue to drive our brands forward. My sincerest thanks to everyone. It's a privilege to lead this incredible organization, and I'm grateful for your ongoing support. With that, I'm going to turn the call over to Chris to discuss the third quarter financial results in more detail. Chris, over to you.