[Financial Highlights and Business Overview](index=1&type=section&id=Benson%20Hill%20Reports%20Solid%20Full-Year%202023%20Financial%20Results) Benson Hill achieved financial discipline and strategic transformation in 2023, marked by strong revenue and gross profit growth, and a shift towards an asset-light model [CEO Statement & Strategic Shift](index=1&type=section&id=CEO%20Statement%20%26%20Strategic%20Shift) Benson Hill demonstrated financial discipline and strengthened its balance sheet in 2023, accelerating its asset-light model transition through divestitures and debt retirement - CEO Deanie Elsner highlighted 2023 as a year of **significant progress**, demonstrating the ability to meet financial commitments and **strengthen the balance sheet**[9](index=9&type=chunk) - The company has **shifted its business model** to focus on its competitive advantages in differentiated genetics, technology, and R&D, aiming to secure licensing and partnership agreements[12](index=12&type=chunk) - The business transformation is being accelerated through the **divestiture of soy processing assets** and the **retirement of corporate debt**, enabling a rapid evolution to an asset-light model for animal feed markets[47](index=47&type=chunk) - The company **fully retired its senior convertible debt** in February 2024 after a significant paydown in November 2023[45](index=45&type=chunk) [Full Year 2023 Performance](index=1&type=section&id=Full%20Year%202023%20Results%20as%20Compared%20to%20the%20Same%20Period%20of%202022) Benson Hill reported a 24% revenue increase to $473.3 million and a 570% gross profit rise to $23.6 million in FY2023, significantly improving Adjusted EBITDA loss Full Year 2023 vs 2022 Key Financials | Metric | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | **Revenues** | $473.3M | $381.2M | +24% | | **Gross Profit** | $23.6M | $3.5M | +570% | | **Net Loss from Continuing Operations** | ($111.3M) | ($99.7M) | +11.6% | | **Adjusted EBITDA** | ($47.7M) | ($81.6M) | +41.5% Improvement | - Proprietary revenues increased by **52% to $110.0 million**, driven by stronger operational performance at soybean processing facilities and direct sales to third parties[62](index=62&type=chunk) - Operating expenses were **$128.1 million**, nearly flat year-over-year, however, adjusted operating expenses **declined by 18% to $104.3 million** after excluding non-recurring items like impairments and gains on sales[48](index=48&type=chunk)[63](index=63&type=chunk) - The company ended the year with **$48.9 million** in cash and marketable securities[22](index=22&type=chunk) [Fourth Quarter 2023 Performance](index=2&type=section&id=Fourth%20Quarter%202023%20Results%20as%20Compared%20to%20the%20Same%20Period%20of%202022) Q4 2023 revenues increased 18% to $116.6 million, with gross profit rising to $7.0 million and Adjusted EBITDA loss significantly narrowing to $6.7 million Q4 2023 vs Q4 2022 Key Financials | Metric | Q4 2023 | Q4 2022 | Change | | :--- | :--- | :--- | :--- | | **Revenues** | $116.6M | $99.2M | +18% | | **Gross Profit** | $7.0M | $0.8M | +786% | | **Net Loss from Continuing Operations** | ($38.0M) | ($30.8M) | +23.7% | | **Adjusted EBITDA** | ($6.7M) | ($21.8M) | +69.2% Improvement | - The increase in gross profit was driven by **favorable contributions** from partnership and patent sales compared to the prior period[11](index=11&type=chunk) [Outlook and Business Transition](index=2&type=section&id=Outlook) The company is actively transitioning to an asset-light business model, marked by recent divestitures and expected reductions in revenue and costs [Outlook and Business Transition](index=2&type=section&id=Outlook_sub) Benson Hill is transitioning to an asset-light model through facility divestitures, expecting reduced revenues and costs, with 2024 designated as a year of strategic execution - With the **divestiture of the Seymour and Creston facilities**, the company has made significant progress in its evolution to an **asset-light business model**[65](index=65&type=chunk) - Management expects a **reduction in revenue and related costs** associated with the divested soy processing operations[65](index=65&type=chunk) - The Chief Financial Officer stated, "**2024 will be a year of transition**, we believe the steps we have taken to **reduce costs and pay down debt** will position the Company to successfully execute on its strategic plans in 2024"[51](index=51&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's detailed financial performance and position, including statements of operations, balance sheets, cash flows, and comprehensive loss [Consolidated Statements of Operations](index=8&type=section&id=Benson%20Hill%2C%20Inc.%20Consolidated%20Statements%20of%20Operations%20%28Unaudited%29) For FY2023, revenues reached $473.3 million with gross profit at $23.6 million, resulting in a net loss from continuing operations of $111.2 million, or ($0.59) per share Consolidated Statement of Operations (Year Ended Dec 31) | (In Thousands USD) | 2023 | 2022 | | :--- | :--- | :--- | | **Revenues** | 473,336 | 381,233 | | **Gross Profit** | 23,626 | 3,527 | | **Total Operating Expenses** | 128,110 | 128,534 | | **Loss from Operations** | (104,484) | (125,007) | | **Net Loss from Continuing Operations** | (111,247) | (99,700) | | **Net Loss** | (115,312) | (127,905) | | **Basic and Diluted Net Loss per Share** | ($0.61) | ($0.71) | [Consolidated Balance Sheets](index=6&type=section&id=Benson%20Hill%2C%20Inc.%20Consolidated%20Balance%20Sheets%20%28Unaudited%29) As of December 31, 2023, total assets decreased to $274.8 million and total liabilities to $188.7 million, leading to a reduction in total stockholders' equity to $86.0 million Consolidated Balance Sheet Highlights (As of Dec 31) | (In Thousands USD) | 2023 | 2022 | | :--- | :--- | :--- | | **Cash and marketable securities** | 48,680 | 157,174 | | **Total Current Assets** | 118,918 | 300,728 | | **Total Assets** | 274,764 | 500,920 | | **Total Current Liabilities** | 101,923 | 92,517 | | **Total Liabilities** | 188,721 | 307,018 | | **Total Stockholders' Equity** | 86,043 | 193,902 | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows%20%28Unaudited%29) In 2023, net cash used in operating activities improved to $73.1 million, while investing activities provided $118.0 million, resulting in a net cash decrease of $27.2 million Consolidated Cash Flows (Year Ended Dec 31) | (In Thousands USD) | 2023 | 2022 | | :--- | :--- | :--- | | **Net cash used in operating activities** | (73,131) | (93,396) | | **Net cash (used in) provided by investing activities** | 118,031 | (40,246) | | **Net cash (used in) provided by financing activities** | (72,140) | 98,009 | | **Net decrease in cash** | (27,240) | (35,642) | | **Cash, cash equivalents and restricted cash, end of year** | 16,081 | 43,321 | [Consolidated Statements of Comprehensive Loss](index=9&type=section&id=Benson%20Hill%2C%20Inc.%20Consolidated%20Statements%20of%20Comprehensive%20Loss%20%28Unaudited%29) The total comprehensive loss for FY2023 was $109.9 million, comprising a net loss of $115.3 million partially offset by $5.4 million in other comprehensive income Consolidated Comprehensive Loss (Year Ended Dec 31) | (In Thousands USD) | 2023 | 2022 | | :--- | :--- | :--- | | **Net loss attributable to common stockholders** | (115,312) | (127,905) | | **Total other comprehensive income (loss)** | 5,426 | (5,992) | | **Total comprehensive loss** | (109,886) | (133,897) | [Non-GAAP Financial Measures and Reconciliations](index=3&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) This section reconciles non-GAAP financial measures, including Adjusted EBITDA, Free Cash Flow, and Adjusted Operating Expenses, to their most directly comparable GAAP measures [Reconciliation of Net Loss to Adjusted EBITDA](index=13&type=section&id=Non-GAAP%20Reconciliation) The reconciliation of net loss from continuing operations to Adjusted EBITDA shows a loss of $47.7 million for FY2023, a significant improvement from the prior year Adjusted EBITDA Reconciliation (Full Year) | (in thousands) | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Net loss from continuing operations** | (111,247) | (99,700) | | Interest expense, net | 35,064 | 21,444 | | Depreciation and amortization | 21,610 | 20,513 | | Impairment of goodwill | 19,226 | — | | Gain on sale of Seymour facility | (18,970) | — | | Impairment loss on Creston facility | 18,521 | — | | **Total Adjusted EBITDA** | **(47,715)** | **(81,645)** | [Reconciliation to Free Cash Flow](index=14&type=section&id=Adjustments%20to%20reconcile%20net%20loss%20from%20our%20continuing%20operations%20to%20free%20cash%20flow%20loss%3A) Free cash flow loss, a non-GAAP measure, improved to $87.5 million in FY2023, reflecting better operating cash flow and reduced capital expenditures Free Cash Flow Reconciliation (Full Year) | (in thousands) | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Net cash used in operating activities** | (75,693) | (93,474) | | Payments for acquisitions of property and equipment | (11,760) | (6,983) | | **Free cash flow loss** | **(87,453)** | **(100,457)** | [Reconciliation of Adjusted Operating Expenses](index=15&type=section&id=Adjustments%20to%20reconcile%20operating%20expenses%20to%20operating%20expenses%2C%20as%20adjusted%3A) Adjusted operating expenses for 2023 were $104.3 million, a decrease from $127.9 million in 2022, after excluding significant non-recurring items Adjusted Operating Expenses Reconciliation (Full Year) | (in thousands) | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Operating expenses** | 128,110 | 128,534 | | Impairment of goodwill | (19,226) | — | | Gain on sale of Seymour facility | 18,970 | — | | Impairment loss on Creston facility | (18,521) | — | | Severance | (4,019) | (676) | | **Operating expenses, as adjusted** | **104,276** | **127,858** |

Benson Hill has successfully retired its senior debt facility and divested its Creston, Iowa, soy processing business to White River Soy Processing (WRSP) for gross proceeds of $72 million. These actions align with Benson Hill’s commitment to disciplined liquidity management and asset efficiency as the Company transitions to an asset-light business model backed by world-class soybean germplasm and competitively advantaged technology. (Graphic: Business Wire)Benson Hill has successfully retired its senior de ...

ST. LOUIS--(BUSINESS WIRE)--Benson Hill, Inc. (NYSE: BHIL, the “Company” or “Benson Hill”), an ag tech company unlocking the natural genetic diversity of plants, announced today that it will release its financial results for the full year and fourth quarter ending Dec. 31, 2023, before the market opens on Thursday, March 14, 2024. The Company will host a webcast to discuss the results at 8:30 a.m. Eastern Time, including a presentation by management followed by a Q&A session. The March 14 webcast will be p ...

Benson Hill, Inc. (NYSE:BHIL) Q3 2023 Results Conference Call November 9, 2023 8:30 AM ET Company Participants Ruben Mella - Senior Director, IR Deanie Elsner - Interim CEO & Director Dean Freeman - CFO Conference Call Participants Kristen Owen - Oppenheimer Brian Wright - ROTH MKM Operator Good morning. Thank you for attending Benson's Hill Third Quarter 2023 Earnings Call. My name is Lauren, and I will be your moderator. [Operator Instructions] I want to pass the conference to your host, Ruben Mella, Seni ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q OR Commission file number 001-39835 Delaware 85-3374823 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) (314) 222-8218 (Registrant's telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the ...

Benson Hill, Inc. (NYSE:BHIL) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET Company Participants Ruben Mella - Senior Director, IR Adrienne Elsner - Interim CEO & Director Dean Freeman - CFO Conference Call Participants Adam Samuelson - Goldman Sachs Group Kristen Owen - Oppenheimer Antonio Hernandez - Barclays Benjamin Klieve - Lake Street Capital Markets Brian Wright - ROTH MKM Partners Operator Good morning. Thank you for attending Benson Hill's Second Quarter 2023 Earnings Call. My name is ...

| --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | SECOND QUARTER 2023 . 1. 1. 1. 1. FINANCIAL RESULTS AND OUTLOOK August 9, 2023 BENSON ® HILL® | | | | Disclaimers CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this presentation may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section ...

Part I - Financial Information [Item 1. Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements) The company presents its unaudited condensed consolidated financial statements for the period ended June 30, 2023, showing a decrease in total assets and stockholders' equity, and an increased net loss from continuing operations, with the former Fresh segment reclassified to discontinued operations following its divestiture Condensed Consolidated Balance Sheet Highlights (Unaudited, In Thousands) | Account | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $206,689 | $300,728 | | **Total Assets** | $392,301 | $500,920 | | **Total Current Liabilities** | $54,143 | $92,517 | | **Total Liabilities** | $255,698 | $307,018 | | **Total Stockholders' Equity** | $136,603 | $193,902 | Condensed Consolidated Statement of Operations Highlights (Unaudited, In Thousands) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $109,038 | $93,631 | $243,681 | $159,757 | | **Gross Profit (Loss)** | $2,968 | $5,742 | $12,491 | $(3,193) | | **Loss from Operations** | $(37,422) | $(26,545) | $(56,708) | $(68,030) | | **Net Loss from Continuing Operations** | $(49,115) | $(25,098) | $(53,960) | $(42,522) | | **Impairment of Goodwill** | $19,226 | $— | $19,226 | $— | Condensed Consolidated Statement of Cash Flows Highlights (Unaudited, In Thousands) | Cash Flow Activity | Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(44,281) | $(58,732) | | **Net cash provided by (used in) investing activities** | $46,102 | $(75,542) | | **Net cash (used in)/provided by financing activities** | $(7,768) | $102,128 | | **Net decrease in cash and cash equivalents** | $(5,947) | $(32,191) | [Notes to the Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies and events, including **substantial doubt** about the Company's **going concern** ability, the divestiture of the Fresh business segment, a **goodwill impairment charge** of **$19.2 million**, and amendments to debt facilities - There is **substantial doubt** about the Company's ability to continue as a **going concern** due to significant losses, negative cash flows, and upcoming debt repayments starting in **Q3 2024**[27](index=27&type=chunk)[56](index=56&type=chunk) - The company completed the sale of its Fresh segment (J&J Produce, Inc.) on June 30, **2023**. The results of this segment have been reclassified and are presented as discontinued operations for all periods shown[54](index=54&type=chunk)[71](index=71&type=chunk)[99](index=99&type=chunk) - A quantitative assessment as of June 30, **2023**, resulted in a **goodwill impairment charge** of **$19,226 thousand**, representing the entire goodwill balance prior to the charge[92](index=92&type=chunk) - In March **2023**, the Company amended its Convertible Loan and Security Agreement, extending the interest-only period by six months through **Q2 2024** and allowing restricted cash to be counted towards the minimum liquidity covenant[28](index=28&type=chunk)[126](index=126&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting a **53% revenue increase** for the first six months of **2023** YoY, despite a widened net loss from continuing operations and a **$19.2 million goodwill impairment charge**, while emphasizing a Liquidity Improvement Plan to enhance cash flow by **$65-$75 million** by the end of **2024**, though **substantial doubt** about **going concern** remains [Results of Operations](index=29&type=section&id=Results%20of%20Operations) For the six months ended June 30, **2023**, revenues increased **53%** to **$243.7 million** from **$159.8 million** in the prior year, driven by improved operational performance, favorable commodity pricing, and increased shipments of proprietary products, resulting in a positive gross profit of **$12.5 million** compared to a loss of **$3.2 million** in **2022**, despite a **7%** increase in operating expenses primarily due to a **$19.2 million goodwill impairment charge**, while Selling, General & Administrative expenses decreased by **33%** mainly from lower stock-based compensation Revenue by Product Category (Six Months Ended June 30, In Thousands) | Category | 2023 | 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Proprietary** | $43,924 | $26,262 | $17,662 | 67% | | **Non-Proprietary** | $199,757 | $133,495 | $66,262 | 50% | | **Total Revenues** | $243,681 | $159,757 | $83,924 | 53% | - Gross profit for the first six months of **2023** was **$12.5 million**, a significant improvement from a gross loss of **$3.2 million** in the same period of **2022**, driven by operational efficiency gains and favorable hedging activities[215](index=215&type=chunk) - A **goodwill impairment charge** of **$19.2 million** was recorded in **Q2 2023**, representing the entire goodwill balance[217](index=217&type=chunk)[233](index=233&type=chunk) - Selling, general and administrative expenses decreased by **$13.5 million** (**33%**) for the six-month period, primarily due to lower non-cash stock-based compensation expense, including a **$6.2 million** reversal related to the former CEO's separation[216](index=216&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, **2023**, the company's liquidity consisted of **$94.4 million** in cash and marketable securities and **$19.8 million** in restricted cash, with **substantial doubt** about its **going concern** ability due to recurring losses and upcoming debt obligations, prompting a Liquidity Improvement Plan aiming to improve liquidity by **$65-$75 million** by the end of **2024** through cost reductions, restructuring, and exploring strategic options for its Seymour facility, alongside intentions to refinance high-cost debt - The company's financial condition raises **substantial doubt** about its ability to continue as a **going concern**, given recurring losses, negative cash flows, and debt obligations[245](index=245&type=chunk)[332](index=332&type=chunk) - A Liquidity Improvement Plan was initiated to improve liquidity by an estimated **$65 million** to **$75 million** by the end of **2024**[224](index=224&type=chunk) - As of June 30, **2023**, the company had **$107.4 million** in term debt and notes payable outstanding, with principal payments on convertible notes beginning in **Q3 2024**[245](index=245&type=chunk)[268](index=268&type=chunk) - The company's plans to address liquidity issues include improving operating efficiencies, exploring strategic options for its Seymour facility, potentially selling additional stock, and refinancing its current high-cost debt[270](index=270&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes to its quantitative and qualitative disclosures about market risk from those described in its Annual Report on Form 10-K for the year ended December 31, **2022** - There were no material changes in the company's market risk disclosures during the six months ended June 30, **2023**[278](index=278&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the Interim CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, **2023**, with a previously disclosed **material weakness** in internal control over financial reporting specific to the historical Fresh segment remediated following its complete divestiture - Management concluded that disclosure controls and procedures were effective as of June 30, **2023**[258](index=258&type=chunk) - A **material weakness** related to the historical Fresh segment was remediated as of June 30, **2023**, as a result of the segment's divestiture[260](index=260&type=chunk)[302](index=302&type=chunk) Part II - Other Information [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is not a party to any material litigation or other material legal proceedings - The company is **not currently involved** in any material legal proceedings[303](index=303&type=chunk) [Risk Factors](index=37&type=page&id=Item%201A.%20Risk%20Factors) This section updates and emphasizes key risks, primarily the **substantial doubt** about the company's ability to continue as a **going concern** due to recurring net losses and significant upcoming debt payments, alongside the potential insufficiency of the Liquidity Improvement Plan, inability to refinance existing high-cost debt, and the possibility of future material impairment charges following the **$19.2 million goodwill impairment** recorded in **Q2 2023** - A **primary risk factor** is the **substantial doubt** about the company's ability to continue as a **going concern**, which could affect its share price and ability to raise capital[286](index=286&type=chunk)[308](index=308&type=chunk)[332](index=332&type=chunk) - The company's Liquidity Improvement Plan may **not be sufficient** to achieve its financial objectives and could have unintended negative consequences on the business[304](index=304&type=chunk)[305](index=305&type=chunk) - There is a risk that the company may be **unable to retire** its existing high-cost debt and replace it with a lower-cost facility, which could adversely affect its financial condition[261](index=261&type=chunk)[285](index=285&type=chunk)[326](index=326&type=chunk) - Following a **$19.2 million goodwill impairment charge** in **Q2 2023**, the company warns that it could be required to record **additional material impairment charges** in the future if key assumptions in valuation models are not realized[287](index=287&type=chunk)[289](index=289&type=chunk)[290](index=290&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or use of proceeds during the period - **None**[312](index=312&type=chunk) [Other Information](index=40&type=section&id=Item%205.%20Other%20Information) This section discloses two key events: a subsidiary's credit agreement amendment on June 29, **2023**, to extend term loan maturity dates, and the Board of Directors' approval on August 8, **2023**, of amendments to the company's bylaws to align with new SEC rules (Rule 14a-19) regarding director nominations and updated Delaware law concerning stockholder meetings - On June 29, **2023**, a subsidiary amended its credit facility, extending certain term loan maturity dates and allowing for repayment of up to **$2.7 million** of subordinated debt[292](index=292&type=chunk) - On August 8, **2023**, the company amended its bylaws to update procedural requirements for director nominations by stockholders, in line with the SEC's Rule 14a-19[293](index=293&type=chunk)[316](index=316&type=chunk) [Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section provides a list of all exhibits filed with the Form 10-Q, including amended bylaws, various employment and separation agreements, an amendment to a credit agreement, and certifications by the CEO and CFO as required by the Sarbanes-Oxley Act - The report includes a list of filed exhibits, such as amended bylaws, executive agreements, and required SEC certifications[334](index=334&type=chunk)

| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | | | | | | Disclaimers CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this presentation may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or the future financial or operating performance of Benson Hill ...

Benson Hill, Inc. (NYSE:BHIL) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Ruben Mella – Senior Director-Investor Relations Matt Crisp – Chief Executive Officer Dean Freeman – Chief Financial Officer Conference Call Participants Kristen Owen – Oppenheimer Cody Ross – UBS Ben Theurer – Barclays Brian Wright – ROTH MKM Ben Klieve – Lake Street Capital Markets Operator Good morning. Thank you for attending Benson Hill's First Quarter 2023 Earnings Call. My name is Brika, and I ...