Aurora Spine Corporation

Good morning, everyone, and welcome to the Aurora's Fine Financial Results conference call. All participants will be in a listen-only mode. Should you need assistance, please send to a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one using a touch-tone telephone. To withdraw your questions, you may press star and two. Please also note today's event is being recorded. At this time, I'd like to turn the floor over to Chad Klaus, CFO. Sir, please go ahead.

Thank you, Operator. Welcome, everyone, and thank you for joining us today on a review of the financials of Aurora Spine for the fourth quarter and fiscal year, ending December 31, 2023, and the first quarter, 2024. With us on the call representing the company today are Trent Northcutt, President and CEO of Aurora Spine, and myself, Chad Klaus, Chief Financial Officer of Aurora Spine. Before we begin, I'd like to remind everyone that the statements made during the course of this call may be considered forward-looking statements within the meaning of Section 27A of the Security Act of 1933, as amended in Section 21E of the Security Act of 1934. These statements reflect current expectations concerning future events and results. Words such as expect and intend, believe, may, will, should, could, anticipate, and similar expressions are words that are used to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of future performance and are subject to the risk and uncertainties and other important factors that could cause performance or achievements to be materially different from those projected. For full discussion of risk and uncertainties and factors, you're encouraged to read or respond to documents on file with CDAR+. including those set forth in the periodic reports filed under the forward-looking statements and risk factors section. Correspondent does not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. On this call, management referred to EBITDA, adjusted EBITDA, adjusted net income, and adjusted EPS, which are not measures of financial performance under the Generally accepted accounting principles are GAAP. Management believes that these non-GAAP figures and distance to the GAAP measures provide meaningful supplemental information regarding a company's operational performance. Investors should recognize these non-GAAP figures might not be comparable to similarly titled measures of other companies. These measures should be considered in addition to and not as a substitute or superior to any measure of performance prepared in accordance with GAAP. A reconciliation of non-GAAP measures and most And the most directly comparable gap measures in accordance with SEC Regulation G can be found in the company's earnings release. With that, I'd like now to turn the call over to Mr. Trent Northcott, President and Chief Executive Officer of Aurora Slime. Trent, please proceed.

Thank you, Chad. I'd like to welcome everyone to Aurora Slime's fourth quarter and fiscal year 2023 and the first quarter 2024 financial results conference call. Yesterday, we issued a press release detailing our financial results for the first quarter of 2024. Hopefully, you've had a chance to review this news release, but if not, a copy can be found on our website at auroraspine.com. That's www.aurora-spine.com under the investor section of our and other financial websites. To lay out the agenda for today's call, let me first summarize a few key events of the last two quarters. For the first year of 2023, we talked about status of each of our key initiatives, products like Zip and Silo. Chad will give you a recap of the financial results, and then we'll continue with Q&A sessions at the end. As the tide of momentum continues to surge, we find ourselves at the forefront of riding the wave of innovation with Aurora products, including the revolutionary Zip and the trans-framinal Silo product, tailoring our minimally invasive procedures successfully their ability to offer alternative treatments past steering clear of excessive path medications in the midst of an opioid epidemic. The launch of the Silo TFX marked a pivotal moment in our journey, unlocking a vast realm of possibilities in the SI joint pain market. The release of the Silo TFX was a tremendous event for our company and the Silo franchise, immediately accepted by the pain market, orthopedic market, and neuromarket. The silo sales were strong at 1.33 million in the fourth quarter of 2023, and we exceeded that by 1.41 million in Q1 of 2024. And let's not forget the resounding success of our ZIP series. The interim results of this clinical study published by the Pain and Therapy speaks volumes, with 82% of our patients reporting improvement and 65% clinically meaningful pain reduction, It's clear that the ZIP device is not just an effective product, but it's also safe, ushering a new era of lumbar spinal stenosis treatment. ZIP sales continue to be strong, with 6 million in sales in 2023 compared to 4.7 million in 2022. That's a $1.3 million increase. Increased marketing for the ZIP51 implant paid off, sales surging from 185,000 in Q1 in 2023 to to 624,000 in Q4 of 2023. Overall, Zip sales increased 1.53 million in Q4 of 2023 to 1.63 million in Q1 2024. As we turn our gaze to Dexa, the company is making efforts to revive our clinical business, cervical business through hiring some new spine-focused sales staff, increase the marketing of our orthoneurosurgeons. With our IRB approval in hand and the Steadfast sales team, we're poised to place the Dexa-C kits in capable hands of doctors who will be ushering in new standards of care. Looking into 2024, we believe that we are on proper track to continue revenue growth with the second consecutive quarter of $4.1 million plus in sales. We continue to expand our sales force in the new year, into new regions in the country, allowing the company to cover more surgeries, internal staff, which will lower our commission costs across the board. To summarize, I'm extremely proud of our team's performance and staying focused on building this company. We are well positioned to take advantage of the growing spine and pain markets with proprietary products. We remain focused on penetrating these markets further this year through continued training sessions and clinical trials. I will now turn over the call to Chad Klaus, CFO, Aurora Spine CFO, who will continue the financial results. Chad, please proceed.