Kits Eyecare Ltd.

Good morning, ladies and gentlemen, and welcome to the KITS second quarter 2024 conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press the star zero for the operator. This call is being recorded on Wednesday, August 7, 2024. I would now like to turn the conference over to Roger Hardy, Chairman and CEO. Please go ahead, sir.

Thanks, Operator. Good morning, everyone, and thank you for joining us. I hope everyone's been enjoying their summer, spending time with friends and family, and appreciating our good fortunes. Here at KITS, we have a lot to be thankful for this summer. I'd like to start out by thanking the entire KITS team for delivering another record quarter for our shareholders, stakeholders, and customers. It's been an exciting nearly three years as a public company, working hard to make eye care easy and accessible. During that short time, our business has nearly doubled from an $80 million run rate to almost $160 million run rate this coming quarter. We've built a large, loyal community of almost 1 million existing customers who return to KITS time and time again. We have one of the highest retention rates in the category because we consistently deliver high-quality products at breakneck speeds. In addition to this healthy annuity, we continue to organically expand our customer base each quarter, and customers continue to expand the amount and frequency with which they order from us. which is having a compounding network effect on our scale and market reach. KITS operates in a large legacy $80 billion North American category, where incumbents deliver marginal service levels and remain largely undisrupted. So that is starting to change, especially in Canada with our recent progress and success. When we architected KITS, we built it specifically with the opportunity to transform this category for the benefit of consumers. As our team continues to innovate and our technology improves, we see a clear opportunity to transform the lives