Core Insights - Emergent BioSolutions Inc. announced participation in several upcoming investor conferences, indicating active engagement with the investment community [1][3]. Company Overview - Emergent BioSolutions has a mission to protect and save lives, focusing on delivering solutions for health threats such as smallpox, mpox, botulism, Ebola, anthrax, and opioid overdose emergencies [2]. Upcoming Events - The company will participate in the RBC Global Healthcare Conference on May 20, 2025, with a fireside chat scheduled for 3:35 pm ET, available for virtual attendees via webcast [3]. - Emergent will also present at the Goldman Sachs Leveraged Finance Conference on May 29, 2025, in Dana Point, California [3]. - Additionally, the company is set to present at Benchmark's 5th Annual Healthcare House Call Virtual Investor Conference on May 29, 2025 [3]. - The Jefferies Global Healthcare Conference presentation is scheduled for June 5, 2025, at 1:25 pm ET, also available for virtual participation [3].

Emergent Biosolutions (EBS) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 44.90%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $0.35 per share when it actually produced earnings of $0.05, delivering a surprise of 114.29%.Over the last four ...

Financial Data and Key Metrics Changes - Net income for Q1 2025 was $68 million, representing a 656% increase compared to Q1 2024 [17] - Total revenues were $222 million, down from the prior year due to lower NARCAN and VAC sales, partially offset by higher international smallpox sales [19] - Adjusted EBITDA was $78 million, an increase of $11 million year-over-year, with an adjusted EBITDA margin of 35%, up 1,300 basis points [20] - Adjusted gross margin improved to 58%, a 700 basis point increase year-over-year due to product mix and improved cost structure [20] Business Line Data and Key Metrics Changes - Medical countermeasure (MCM) products generated $91 million in sales outside the U.S. in Q1 2025, contributing significantly to overall revenue [19] - NARCAN sales experienced a decline due to pricing impacts and competition from generic products, but trends improved in the early weeks of Q2 2025 [22][23] - The company reaffirmed revenue and adjusted EBITDA guidance for 2025, focusing on core strengths in medical countermeasures and opioid overdose reversal treatments [10][27] Market Data and Key Metrics Changes - The company reported strong international sales, with approximately 40% of overall revenue coming from outside the U.S. [57] - The naloxone market is expected to grow at a mid-single-digit rate, with the public interest segment being the largest contributor [31][50] - A significant contract valued at $65 million was secured with the province of Ontario for NARCAN supply, indicating growth potential in Canada [34][51] Company Strategy and Development Direction - The company is focused on a multiyear turnaround plan aimed at stabilizing operations, improving profitability, and achieving sustainable growth [8] - Strategic business development transactions were completed to enhance core capabilities, including partnerships for medical countermeasures [10] - The company is actively managing its manufacturing footprint to mitigate tariff impacts and ensure compliance with USMCA [15][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing improved cash flow and liquidity, with total liquidity of $249 million as of Q1 2025 [24] - The company anticipates strong profit follow-through from 2024, despite lower top-line revenue, indicating a focus on margin improvement [28] - Management highlighted the importance of continued collaboration with government stakeholders to meet expectations for 2025 deliveries [13] Other Important Information - The company announced a $50 million share repurchase program, which will expire in March 2026 [26] - An annual ESG report for 2024 was published, emphasizing the company's commitment to quality and sustainability [29] Q&A Session Summary Question: Can you discuss your manufacturing footprint and tariff exposure? - The majority of products are manufactured in the U.S. or Canada, with limited tariff exposure due to USMCA compliance [42][43] Question: What drove the gross margin improvement this quarter? - Cost reductions from divestitures and a favorable product mix, particularly higher-margin international orders, contributed to gross margin improvement [45][46] Question: Were NARCAN dynamics considered in the Q1 revenue forecast? - Yes, the company anticipated some impacts from competition and federal funding delays, gaining clarity as the quarter progressed [47][48] Question: What is the expected growth for different segments in the naloxone market? - The public interest segment remains the largest, but business-to-business activities are expected to grow faster due to new initiatives [50][51] Question: How will the $65 million contract with Ontario be allocated? - It is reasonable to assume the revenue could come in fairly evenly over the three-year contract period [60] Question: Will the company benefit from pharmaceutical manufacturing onshoring? - The company is well-positioned with its manufacturing network and has capacity for drug substance and fill-finish, looking to assist companies transitioning back to the U.S. [61][62]

Financial Data and Key Metrics Changes - Net income for Q1 2025 was $68 million, representing a 656% increase compared to Q1 2024 [16] - Total revenues were $222 million, a decline from the previous year due to lower NARCAN and VAC sales, partially offset by higher international smallpox sales [18] - Adjusted EBITDA was $78 million, an increase of $11 million year-over-year, with an adjusted EBITDA margin of 35%, up 1,300 basis points [19] - Adjusted gross margin improved to 58%, a 700 basis point increase year-over-year due to product mix and improved cost structure [19] Business Line Data and Key Metrics Changes - Medical countermeasure (MCM) products generated $91 million in sales outside the U.S. in Q1 2025, contributing significantly to overall revenue [18] - NARCAN sales experienced a decline due to pricing impacts and competitive pressures, but trends improved in the early weeks of Q2 2025 [22][30] - The company reaffirmed revenue and adjusted EBITDA guidance for 2025, indicating confidence in operational performance despite revenue fluctuations [9][27] Market Data and Key Metrics Changes - International sales accounted for approximately 40% of total revenue in Q1 2025, highlighting the company's focus on global market expansion [56] - The naloxone market is expected to grow at a mid-single-digit rate, with the company emphasizing its competitive position in this segment [31][48] Company Strategy and Development Direction - The company is focused on a multiyear turnaround plan aimed at stabilizing operations, improving profitability, and achieving sustainable growth [7] - Strategic business development transactions were completed to enhance core capabilities, including partnerships for medical countermeasures [9] - The company is committed to combating the opioid overdose epidemic and expanding access to NARCAN through various distribution channels [11][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing improved cash positions and strong receivable collections expected in Q2 2025 [10][23] - The company anticipates strong profit follow-through from 2024, despite lower top-line revenue, indicating a focus on margin improvement [28] - Management highlighted the importance of international preparedness for medical countermeasures in light of global health threats [56] Other Important Information - The company has a total liquidity of $249 million, which includes cash and undrawn revolver capacity, providing a solid foundation for strategic growth initiatives [23] - A $50 million share repurchase program was announced, with no purchases made in Q1 2025, indicating a cautious approach to capital allocation [26] Q&A Session Summary Question: Can you discuss your manufacturing footprint and tariff exposure? - The majority of products are manufactured in the U.S. or Canada, with limited tariff exposure due to USMCA compliance [41] Question: What drove the gross margin improvement this quarter? - Cost reductions from divestitures and a favorable product mix, particularly from international orders, contributed to gross margin improvement [44][45] Question: Were NARCAN dynamics considered in the Q1 revenue forecast? - Yes, some impacts were anticipated, but clarity on the magnitude of competitive pressures improved over the quarter [46][47] Question: How do you see the naloxone market growing? - The market is expected to grow at a mid-single-digit rate, with public interest remaining the largest segment, but business-to-business activities are anticipated to grow faster [49][50] Question: Will the $65 million contract with Ontario be evenly distributed over three years? - It is reasonable to assume that revenue from the contract will be recognized fairly evenly over the three years [58] Question: Is the company likely to benefit from manufacturing onshoring? - The company is well-positioned with existing manufacturing capacity and is open to supporting companies transitioning back to the U.S. [60][61] Question: Has the company been actively repurchasing stock? - The company will provide updates on the share repurchase program each quarter, but no purchases were made in Q1 2025 [63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33137 EMERGENT BIOSOLUTIONS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 14-1902018 (State or Other Jurisdiction o ...

Financial Performance - Q1 2025 - Q1 2025 revenues reached $222 million, aligning with the midpoint of guidance[20] - Adjusted EBITDA for Q1 2025 was $78 million, representing 35% of total revenues, a 1300 bps increase compared to Q1 2024[35] - Adjusted Gross Margin improved to 58% in Q1 2025, a 700 bps increase from 51% in Q1 2024[36] - Net leverage significantly improved to 28x Adjusted EBITDA, a 50% reduction from 57x year-over-year[20] Liquidity and Debt Reduction - Cash position improved to $149 million, up by $49 million compared to the end of 2024[20] - Gross debt was reduced from $909 million to $700 million[44] - Net debt decreased by 23%, a reduction of $209 million[44] Guidance and Outlook - The company reaffirmed its 2025 revenue guidance of $750 million to $850 million and Adjusted EBITDA guidance of $150 million to $200 million[20, 51] - The company anticipates R&D expenses to be approximately 6% to 7% of revenue and SG&A expenses to be around 27% to 28% of revenue for 2025[51] Business Segments - International MCM revenue was $91 million, accounting for approximately 60% of total MCM sales in Q1[22] - The company secured a 3-year agreement for $65 million with Ontario's Ministry of Health for NARCAN® Nasal Spray[62]

[Q1 2025 Financial Results Overview](index=1&type=section&id=Emergent%20BioSolutions%20Reports%20First%20Quarter%202025%20Financial%20Results) Emergent BioSolutions reported a 26% revenue decrease, but net income surged 656% and Adjusted EBITDA rose 16%, reaffirming 2025 guidance [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Q1 2025 saw a 26% revenue decrease, but significant profitability improvements with net income up 656% and Adjusted EBITDA up 16% - CEO Joe Papa highlighted that the solid Q1 results, including revenues within guidance, increased profitability margins, and improved cash flow, demonstrate the success of the company's multi-year strategic turnaround plan[3](index=3&type=chunk) Q1 2025 vs. Q1 2024 Financial Highlights | ($ in millions, except per share amounts) | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $222.2 | $300.4 | (26)% | | Net Income | $68.0 | $9.0 | 656% | | Net Income per Diluted Share | $1.19 | $0.17 | 600% | | Adjusted Net Income | $40.7 | $31.1 | 31% | | Adjusted EBITDA | $77.6 | $66.9 | 16% | | Adjusted EBITDA Margin | 35% | 22% | +1300 bps | | Gross Margin % | 50% | 45% | +500 bps | | Adjusted Gross Margin % | 58% | 51% | +700 bps | [Recent Business Updates](index=2&type=section&id=Recent%20Business%20Updates) Q1 2025 strategic initiatives included government contracts, NARCAN® portfolio expansion, facility divestiture, milestone payments, and a share repurchase program - Key operational and strategic activities in Q1 2025 included: * Secured a **~$20.0 million contract option** to supply BioThrax® to the U.S. Department of Defense * Gained exclusive U.S. and Canadian commercial rights to KLOXXADO® (naloxone HCI) Nasal Spray * Completed the sale of the Baltimore-Bayview facility for **$36.5 million** * Earned **$50.0 million** in development milestone payments from Bavarian Nordic, with **$30.0 million** paid during the quarter * The Board of Directors authorized a share repurchase program of up to **$50.0 million**[9](index=9&type=chunk) [First Quarter 2025 Financial Performance](index=2&type=section&id=First%20Quarter%202025%20Financial%20Performance) Overall Q1 2025 performance showed a 26% revenue decline offset by significant operating expense reductions and increased other income [Revenues](index=2&type=section&id=Revenues) Total Q1 2025 revenues decreased 26% to $222.2 million, driven by lower NARCAN® and Other Products sales, partially offset by Smallpox MCM growth Revenue Breakdown by Category (Q1 2025 vs Q1 2024) | ($ in millions) | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | **Product sales, net:** | | | | | NARCAN® | $45.3 | $118.5 | (62)% | | Anthrax MCM | $47.9 | $55.9 | (14)% | | Smallpox MCM | $106.4 | $50.2 | 112% | | Other Products | $2.3 | $49.3 | (95)% | | **Total Product sales, net** | **$201.9** | **$273.9** | **(26)%** | | All other revenues | $20.3 | $26.5 | (23)% | | **Total revenues** | **$222.2** | **$300.4** | **(26)%** | [Product Sales Analysis](index=3&type=section&id=Product%20Sales%20Analysis) Product sales were mixed, with sharp declines in NARCAN® and Other Products, but a significant increase in Smallpox MCM revenues - **NARCAN®** revenues decreased by **$73.2 million (62%)** primarily due to lower sales of OTC NARCAN® and an unfavorable price/volume mix in Canadian retail sales[10](index=10&type=chunk) - **Smallpox MCM** revenues increased by **$56.2 million (112%)** mainly due to the timing of higher ACAM2000® and TEMBEXA® sales to the U.S. government[11](index=11&type=chunk) - **Other Products** revenues decreased by **$47.0 million (95%)** primarily due to lower BAT® sales and the absence of RSDL® product sales following its divestiture in 2024[12](index=12&type=chunk) [All Other Revenues Analysis](index=3&type=section&id=All%20Other%20Revenues%20Analysis) Services revenue declined by 61% due to a facility sale, partially offset by a 64% increase in Contracts and Grants revenue - **Services** revenues decreased by **$11.3 million (61%)** mainly because of the sale of the Camden facility to Bora Pharmaceuticals in Q3 2024[12](index=12&type=chunk) - **Contracts and Grants** revenues increased by **$5.1 million (64%)** primarily due to development work associated with Ebanga™[13](index=13&type=chunk) [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Total operating expenses decreased 34% to $172.3 million, primarily due to lower cost of sales and SG&A, while R&D remained flat Operating Expenses Breakdown (Q1 2025 vs Q1 2024) | ($ in millions) | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Cost of product and services sales, net | $88.5 | $144.6 | (39)% | | Research and development ("R&D") | $15.1 | $15.1 | — % | | Selling, general and administrative ("SG&A") | $52.4 | $84.7 | (38)% | | Amortization of intangible assets | $16.3 | $16.2 | 1% | | **Total operating expenses** | **$172.3** | **$260.6** | **(34)%** | - The **38% decrease in SG&A expenses** was primarily due to lower compensation costs from restructuring, reduced marketing expenses, and lower professional and legal service fees[17](index=17&type=chunk) [Additional Financial Information](index=4&type=section&id=Additional%20Financial%20Information) Capital expenditures significantly decreased by 67% to $3.6 million in Q1 2025, reflecting reduced development activities Capital Expenditures (Q1 2025 vs Q1 2024) | ($ in millions) | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Capital expenditures | $3.6 | $10.8 | (67)% | | Capital expenditures as a % of total revenues | 2% | 4% | | [Reportable Segment Information](index=5&type=section&id=Reportable%20Segment%20Information) Segment performance was mixed, with Commercial Products revenue declining significantly while MCM Products showed strong gross margin expansion [Commercial Products Segment](index=5&type=section&id=Commercial%20Products%20Segment) The Commercial Products segment experienced a 62% revenue decline and an 80% gross margin decrease due to lower NARCAN® sales Commercial Products Segment Performance (Q1 2025 vs Q1 2024) | ($ in millions) | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $45.3 | $118.5 | (62)% | | Gross margin | $11.3 | $57.0 | (80)% | | Gross margin % | 25% | 48% | | - The segment's adjusted gross margin, which excludes intangible asset amortization, decreased by **69% to $20.8 million**, with the adjusted gross margin percentage falling to **46%** from 56% in the prior year[20](index=20&type=chunk)[21](index=21&type=chunk) [MCM Products Segment](index=6&type=section&id=MCM%20Products%20Segment) The MCM Products segment saw a 1% revenue increase and a 15% gross margin growth, driven by a favorable sales mix and lower costs MCM Products Segment Performance (Q1 2025 vs Q1 2024) | ($ in millions) | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $156.6 | $155.4 | 1% | | Gross margin | $99.6 | $86.4 | 15% | | Gross margin % | 64% | 56% | | - The segment's adjusted gross margin increased by **15% to $107.4 million**, and the adjusted gross margin percentage improved to **69%** from 60% in the prior year[22](index=22&type=chunk)[23](index=23&type=chunk) [2025 Financial Forecast](index=7&type=section&id=2025%20Financial%20Forecast) The company reaffirmed its full-year 2025 revenue and Adjusted EBITDA guidance, while increasing its GAAP net income forecast Full Year 2025 Financial Forecast | METRIC ($ in millions) | Updated Range (as of 05/07/2025) | Action | | :--- | :--- | :--- | | Total revenues | $750 - $850 | UNCHANGED | | Net income | $20 - $70 | INCREASED | | Adjusted net income | $20 - $70 | UNCHANGED | | Adjusted EBITDA | $150 - $200 | UNCHANGED | | Adjusted gross margin % | 48% - 51% | UNCHANGED | Q2 2025 Forecast | METRIC ($ in millions) | Q2 2025 Forecast | | :--- | :--- | | Total revenues | $95 - $120 | [Consolidated Financial Statements](index=11&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's balance sheets, statements of operations, and cash flows for Q1 2025 and prior periods [Consolidated Balance Sheets](index=11&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets were $1,426.1 million, with increased cash and stable debt, leading to higher stockholders' equity Key Balance Sheet Items (in millions) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $149.1 | $99.5 | | Total current assets | $706.8 | $598.7 | | Total assets | $1,426.1 | $1,389.7 | | Total current liabilities | $111.9 | $162.4 | | Debt | $665.7 | $663.7 | | Total liabilities | $873.4 | $906.9 | | Total stockholders' equity | $552.7 | $482.8 | [Consolidated Statements of Operations](index=12&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2025 net income surged to $68.0 million, driven by reduced operating expenses and significant other income, despite lower revenues Key Income Statement Items (in millions) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Total revenues | $222.2 | $300.4 | | Total operating expenses | $172.3 | $260.6 | | Income from operations | $49.9 | $39.8 | | Total other income (expense), net | $42.8 | $(27.7) | | Net income | $68.0 | $9.0 | | Diluted EPS | $1.19 | $0.17 | [Consolidated Statements of Cash Flows](index=13&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 saw improved operating cash flow and positive investing cash flow, resulting in a $47.2 million net increase in cash Key Cash Flow Items (in millions) | | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(11.2) | $(62.6) | | Net cash provided by (used in) investing activities | $59.5 | $(10.8) | | Net cash provided by (used in) financing activities | $(0.4) | $40.7 | | Net change in cash, cash equivalents and restricted cash | $47.2 | $(32.7) | [Reconciliation of Non-GAAP Financial Measures](index=14&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section reconciles non-GAAP financial measures like Adjusted Net Income and Adjusted EBITDA to their GAAP equivalents Q1 2025 Reconciliation of Net Income to Adjusted Net Income (in millions) | | Q1 2025 | | :--- | :--- | | Net income (GAAP) | $68.0 | | Total adjustments | $(27.3) | | Adjusted net income (Non-GAAP) | $40.7 | Q1 2025 Reconciliation of Net Income to Adjusted EBITDA (in millions) | | Q1 2025 | | :--- | :--- | | Net income (GAAP) | $68.0 | | Total adjustments | $9.6 | | Adjusted EBITDA (Non-GAAP) | $77.6 | FY 2025 Forecast Reconciliation of Net Income to Adjusted EBITDA (in millions) | | 2025 Full Year Forecast | | :--- | :--- | | Net income (GAAP) | $20 - $70 | | Total adjustments | $130 | | Adjusted EBITDA (Non-GAAP) | $150 - $200 |

Core Viewpoint - Emergent BioSolutions Inc. reported a significant increase in net income and profitability margins for Q1 2025, despite a decline in total revenues compared to the previous year, indicating a successful execution of its strategic plan aimed at long-term growth and profitability [2][3][6]. Financial Highlights - Total revenues for Q1 2025 were $222.2 million, a decrease of 26% from $300.4 million in Q1 2024 [3][6]. - Net income surged to $68.0 million, reflecting a 656% increase from $9.0 million in Q1 2024 [3][6]. - Adjusted net income rose by 31% to $40.7 million, compared to $31.1 million in the prior year [3][6]. - Adjusted EBITDA increased by 16% to $77.6 million, with an adjusted EBITDA margin of 35%, up from 22% in Q1 2024 [3][6]. Revenue Breakdown - Product sales decreased by 26% to $201.9 million, with notable declines in NARCAN sales by 62% and Anthrax MCM by 14%, while Smallpox MCM sales increased by 112% [9][10][11][12]. - Revenues from services fell by 61% to $7.2 million, primarily due to the sale of the Camden facility [16]. - Contracts and grants revenue increased by 64% to $13.1 million, driven by development work related to Ebanga™ [17]. Operating Expenses - Total operating expenses decreased by 34% to $172.3 million, with significant reductions in cost of product and services sales by 39% and SG&A expenses by 38% [18][19][21]. - Research and development expenses remained stable at $15.1 million [20]. Recent Business Updates - The company secured contracts valued at approximately $20 million for BioThrax® supply to the U.S. Department of Defense and $16.7 million for collaboration on Ebanga™ [7]. - Emergent gained exclusive commercial rights to KLOXXADO in the U.S. and Canada and completed the sale of its Baltimore-Bayview facility for $36.5 million [7]. - The Board authorized a stock repurchase program of up to $50 million [7]. Financial Forecast - The company reaffirmed its 2025 financial guidance, expecting total revenues between $750 million and $850 million, with net income projected between $20 million and $70 million [31][32].

Core Points - Emergent BioSolutions Inc. has entered a three-year agreement valued at approximately $65 million to supply NARCAN Nasal Spray to the Ontario Ministry of Health for the Ontario Naloxone Program [1] - The agreement aims to enhance access to NARCAN Nasal Spray, which is critical for reversing opioid overdoses, especially given the ongoing opioid crisis in Ontario [2][3] Company Overview - Emergent BioSolutions has been supplying NARCAN Nasal Spray to Ontario since 2018, demonstrating a long-term commitment to addressing opioid poisoning deaths in Canada [1][3] - The company emphasizes the importance of making life-saving medications available to individuals at risk of opioid overdose and their communities [3][4] Industry Context - From January to March 2025, Ontario reported 653 suspected drug-related fatalities, averaging 7 deaths per day, although there was a 30% decrease in overdose deaths compared to the same period in the previous year [2] - The Ontario Naloxone Program is crucial for providing access to naloxone, a life-saving medication, to those at risk of opioid overdose [4]

GAITHERSBURG, Md., April 22, 2025 (GLOBE NEWSWIRE) -- Emergent BioSolutions Inc. (NYSE: EBS) will host a conference call on Wednesday, May 7, 2025, at 5:00 pm eastern time to discuss the financial results for the first quarter of 2025. Participants can access the conference call live via webcast, and also by visiting the Investors page of Emergent's website. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email ...