UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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: 001-38701 SI-BONE, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction o ...

Exhibit 99.1 SI-BONE, Inc. Reports Financial Results for the First Quarter 2024 Annual guidance increased to $164 million - $166 million, implying annual growth of ~18% - 20% SANTA CLARA, Calif. May 6, 2024 - SI-BONE, Inc. (Nasdaq:SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today reported financial results for the quarter ended March 31, 2024. First Quarter 2024 Financial Highlights (all comparisons are to the prior year period) Recent Operation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 001-38701 SI-BONE, Inc. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation or organizat ...

SI-BONE, Inc. (NASDAQ:SIBN) Q4 2023 Earnings Call Transcript February 26, 2024 4:30 PM ET Company Participants Saqib Iqbal - Senior Director of IR Laura Francis - CEO Anshul Maheshwari - CFO Conference Call Participants Craig Bijou - Bank of America Drew Ranieri - Morgan Stanley David Saxon - Needham & Company Sam Brodovsky - Truist Securities Caitlin Cronin - Canaccord Genuity Ross Osborn - Cantor Fitzgerald Operator Good afternoon and welcome to SI-BONE's Fourth Quarter 2023 Earnings Conference Call. At t ...

Financial Performance - Revenue for Q3 2023 was $34.014 million, a 28.8% increase from $26.432 million in Q3 2022[18] - Gross profit for Q3 2023 was $26.973 million, compared to $22.264 million in Q3 2022, reflecting a gross margin improvement[18] - Net loss for Q3 2023 was $10.022 million, an improvement from a net loss of $14.158 million in Q3 2022[18] - Net loss for the nine months ended September 30, 2023, was $32.353 million, a decrease from $50.081 million in the same period of 2022, representing a 35.3% improvement[25] - For the three months ended September 30, 2023, the net loss was $10,022,000, compared to a net loss of $14,158,000 for the same period in 2022, representing a 29.8% improvement[78] - The net loss per share, basic and diluted, improved to $0.25 in Q3 2023 from $0.41 in Q3 2022, indicating a 39.0% reduction in loss per share[78] Assets and Equity - Total current assets increased to $211.019 million as of September 30, 2023, up from $137.611 million at the end of 2022[16] - Total stockholders' equity rose to $173.600 million as of September 30, 2023, compared to $98.302 million at the end of 2022[16] - Cash and cash equivalents increased to $53.492 million as of September 30, 2023, compared to $20.717 million at the end of 2022[16] - Cash and cash equivalents at the end of the period were $53.492 million, up from $26.299 million at the end of September 2022, indicating a 103.5% increase[25] - Total stockholders' equity as of September 30, 2022, was $102.828 million, down from $134.420 million as of December 31, 2021, reflecting a decrease of 23.5%[22] Operating Expenses - Operating expenses for Q3 2023 were $38.142 million, up from $35.830 million in Q3 2022, driven by increased sales and marketing efforts[18] - Total stock-based compensation expense for the three months ended September 30, 2023, was $5,928,000, slightly up from $5,922,000 in Q3 2022[76] - Research and development expenses included $699,000 in stock-based compensation for Q3 2023, compared to $672,000 in Q3 2022, marking a 4.0% increase[76] Revenue Sources - Revenue from the United States was $32.3 million for the three months ended September 30, 2023, compared to $24.627 million in the same period of 2022, reflecting a growth of 31.3%[39] - International revenue accounted for less than 10% of total revenue, with $1.714 million for the three months ended September 30, 2023, down from $1.805 million in the same period of 2022[39] Product Development and Strategy - The company expects to continue diversifying its product mix and developing new revenue opportunities[11] - The company is focused on retaining and growing its sales team to meet product demand[11] - The company introduced new products including the iFuse Bedrock Granite in 2022, expanding its product line for minimally invasive surgical implants[27] Cash Flow and Financing - The company raised $83.671 million in net proceeds from a public offering of 3,775,000 shares at a price of $22.00 per share in May 2023[28] - The company reported a net cash used in operating activities of $16.416 million for the nine months ended September 30, 2023, an improvement from $34.880 million in the same period of 2022[25] - Future results may be impacted by macroeconomic factors, with uncertainties regarding liquidity and access to funding for capital needs[30] Marketable Securities and Debt - Total marketable securities as of September 30, 2023, amounted to $152.021 million, up from $84.575 million as of December 31, 2022[43] - As of September 30, 2023, the company's outstanding debt from the term loan was $36.0 million, an increase from $35.0 million as of December 31, 2022[60] - The effective interest rate for the First-Citizens Term Loan was 9.3% for the three months ended September 30, 2023, compared to 8.3% for the same period in 2022[64] Stock Options and Compensation - The company granted 1,204,086 RSUs with an average grant date fair value of $16.85 during the nine months ended September 30, 2023[72] - The company had outstanding stock options totaling 1,216,841 shares as of September 30, 2023, with a weighted average exercise price of $10.84[67] - The total outstanding common stock warrants decreased from 118,122 as of December 31, 2022, to 85,139 as of September 30, 2023, due to the exercise of warrants[77] - The total stock options outstanding decreased from 1,921,065 in Q3 2022 to 1,216,841 in Q3 2023, reflecting a 36.6% reduction[80] Credit Quality and Risks - The allowance for credit losses increased to $750,000 as of September 30, 2023, from $400,000 at the end of 2022, indicating a provision of $352,000 during the period[51] - The company did not recognize any credit losses related to its investments during the nine months ended September 30, 2023, indicating stable credit quality[43] - The company has not experienced any losses on its deposits of cash, cash equivalents, and marketable securities despite the closure of Silicon Valley Bank[29] - The company anticipates challenges related to supply chain management and regulatory compliance impacting future performance[14]

Financial Data and Key Metrics Changes - In Q3 2023, the company generated worldwide revenue of $34 million, a 29% increase compared to Q3 2022, with U.S. revenue reaching $32.3 million, reflecting a 31% growth year-over-year [11][38] - The adjusted EBITDA loss improved by 44% to $3.9 million from $6.9 million in the prior year, indicating a positive trend towards profitability [44] - The net loss for the quarter was $10 million, or $0.25 per diluted share, compared to a net loss of $14.2 million, or $0.41 per diluted share in the previous year, representing a 29% reduction in net loss [43] Business Line Data and Key Metrics Changes - The number of active U.S. surgeons exceeded 1,000 for the first time, with nearly 3,900 procedures performed in Q3 2023, marking a 30% growth in active surgeons compared to Q3 2022 [12][18] - U.S. procedure volume grew by approximately 34%, continuing a trend of over 30% growth for four consecutive quarters [38] - The average revenue per U.S. territory reached over $1.5 million, representing a 38% productivity gain over the previous year [17] Market Data and Key Metrics Changes - International revenue was $1.7 million, remaining nearly flat, with strong performance noted in France and improvements in the U.K. [39] - The company is focusing on revitalizing growth in Germany and the rest of Europe through expanded surgeon engagement [40] Company Strategy and Development Direction - The company aims to capitalize on a market opportunity of nearly 500,000 annual procedures, positioning itself for sustained revenue growth [13] - Investments in R&D and clinical research are prioritized to support long-term growth and progress towards breakeven [42] - The company is expanding its product portfolio and surgeon base, with a hybrid sales strategy that combines direct sales teams and third-party agents [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business, citing record revenue and strong demand for their solutions despite industry seasonality [10] - The updated 2023 revenue growth guidance is set at 28% to 29%, reflecting strong performance and momentum [13][47] - Management noted that the trajectory of cash utilization has improved significantly, with cash used in operating activities down 53% year-to-date compared to the previous year [45] Other Important Information - The company has achieved a significant milestone with the introduction of new products like iFuse-TORQ and iFuse Bedrock Granite, which are expected to drive future growth [22][27] - The company has extended its patents on key products, enhancing its competitive position in the market [113] Q&A Session Summary Question: Can you quantify the impact of GLP-1 therapy on demand? - Management indicated that while there is potential for increased surgery-ready patients due to GLP-1 therapy, they do not foresee a significant downside risk to demand for their products [50][58] Question: What is the outlook for Q4 and 2024? - Management expressed optimism for Q4, citing strong demand trends and a record number of active surgeons, while guidance for 2024 will be provided in the next earnings announcement [62][64] Question: How is utilization holding up with the increase in active surgeons? - Management noted that utilization remains consistent, with an increase in active surgeons contributing to a stable number of procedures per surgeon [100] Question: What is the trend for gross margin and operating expenses? - Management stated that gross margin is expected to be around 80% for the year, with operating expenses growing mid-single digits, reflecting ongoing investments in growth [47][89]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) (State or Other Jurisdiction of Incorporation or Organization) 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: 001-38701 SI-BONE, INC. (Exact Name of Registrant as Specified in its Charter) 471 El Camino Real, Suite 101, Santa Clara, California 95050 (Address of principal executive offices) ( ...

SI-BONE, Inc. (NASDAQ:SIBN) Q2 2023 Earnings Conference Call August 7, 2023 4:30 PM ET Company Participants Conference Call Participants Operator Good afternoon, and welcome to SI-BONE's Second Quarter Earnings Conference Call. At this time, all participants are in listen-only mode. We will be facilitating a question-and-answer session towards the end of today’s call. As a reminder, this call is being recorded for replay purposes. And I would now like to turn the call over to Saqib Iqbal, Senior Director of ...

PART I [Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents SI-BONE, Inc.'s unaudited condensed consolidated financial statements for Q1 2023, detailing financial position, operations, and cash flows, showing revenue growth and a reduced net loss [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets were **$149,076 thousand**, decreasing from **$157,552 thousand** at year-end 2022, primarily due to reduced short-term investments Condensed Consolidated Balance Sheets (in thousands) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $128,401 | $137,611 | | **Total Assets** | **$149,076** | **$157,552** | | **Total Current Liabilities** | $16,628 | $21,178 | | **Total Liabilities** | **$55,117** | **$59,250** | | **Total Stockholders' Equity** | **$93,959** | **$98,302** | | **Total Liabilities and Stockholders' Equity** | **$149,076** | **$157,552** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For Q1 2023, revenue increased **46%** to **$32,708 thousand**, gross profit grew to **$26,784 thousand**, and net loss narrowed to **$11,125 thousand** or **($0.32) per share** Q1 2023 vs Q1 2022 Statement of Operations (in thousands, except per share data) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Revenue | $32,708 | $22,439 | | Gross Profit | $26,784 | $19,456 | | Loss from Operations | ($11,293) | ($16,868) | | Net Loss | ($11,125) | ($17,410) | | Net Loss Per Share | ($0.32) | ($0.52) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities for Q1 2023 improved to **$10,753 thousand**, while investing activities provided **$11,703 thousand**, ending the period with **$22,969 thousand** in cash Q1 2023 vs Q1 2022 Cash Flows (in thousands) | Cash Flow Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($10,753) | ($13,512) | | Net cash provided by (used in) investing activities | $11,703 | ($22,608) | | Net cash provided by financing activities | $1,205 | $169 | | **Net increase (decrease) in cash** | **$2,252** | **($36,090)** | | **Cash and cash equivalents at end of period** | **$22,969** | **$27,329** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section details the company's business, accounting policies, debt structure, and stock-based compensation, focusing on minimally invasive surgical implants and revenue recognition - The company is a medical device firm specializing in a proprietary minimally invasive surgical implant system for sacroiliac joint fusion, with products including iFuse, iFuse-3D, iFuse-TORQ, and iFuse Bedrock Granite[25](index=25&type=chunk) Revenue by Geography (in thousands) | Region | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | United States | $30,450 | $20,367 | | International | $2,258 | $2,072 | | **Total** | **$32,708** | **$22,439** | - In January 2023, the company amended its loan agreement, borrowing **$36,000 thousand** to repay a previous **$35,000 thousand** facility and securing a new **$15,000 thousand** revolving credit facility[59](index=59&type=chunk) - The lender is now First-Citizens Bank & Trust Company following the failure of Silicon Valley Bank[59](index=59&type=chunk) Stock-Based Compensation Expense (in thousands) | Expense Category | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Cost of goods sold | $137 | $123 | | Sales and marketing | $2,910 | $2,594 | | Research and development | $752 | $633 | | General and administrative | $2,395 | $2,157 | | **Total** | **$6,194** | **$5,507** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2023 financial performance, highlighting **46%** revenue growth driven by case volumes and pricing, analyzing gross margin changes, operating expenses, and liquidity [Overview and Key Performance Indicators](index=25&type=section&id=Overview%20and%20Key%20Performance%20Indicators) This section outlines the company's focus on sacropelvic anatomy disorders, detailing key performance indicators and growth drivers including sales force expansion and new product launches - The company is focused on expanding its sales force, increasing surgeon engagement, launching new products, and improving operational efficiency to drive growth[88](index=88&type=chunk) U.S. Sales Force Composition | Role | March 31, 2023 | March 31, 2022 | | :--- | :--- | :--- | | Territory Sales Managers | 87 | 88 | | Clinical Support Specialists | 67 | 66 | | Third-party Sales Agents | 126 | 66 | - As of March 31, 2023, over **2,300** surgeons in the U.S. and over **900** surgeons outside the U.S. have been trained and have used the iFuse system[96](index=96&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q1 2023 revenue increased **46%** to **$32,708 thousand**, driven by U.S. sales, while gross margin decreased to **82%** due to product mix and costs, and operating expenses rose **5%** Financial Performance Comparison (in thousands) | Metric | Q1 2023 | Q1 2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $32,708 | $22,439 | $10,269 | 46% | | Gross Profit | $26,784 | $19,456 | $7,328 | 38% | | Gross Margin | 82% | 87% | - | - | | Total Operating Expenses | $38,077 | $36,324 | $1,753 | 5% | - The increase in U.S. revenue was due to higher case volumes and improved domestic average selling prices[122](index=122&type=chunk) - Gross margin decreased due to procedure and product mix from newly launched implants with higher costs, as well as increased depreciation and freight expenses[123](index=123&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2023, the company held **$86,000 thousand** in cash and marketable securities, expected to fund operations for 12 months, following a debt refinancing in January 2023 - The company had **$86,000 thousand** in cash and marketable securities as of March 31, 2023, and believes this is sufficient to fund operations for the next **12 months**[129](index=129&type=chunk)[131](index=131&type=chunk) - In January 2023, the company entered into an amended loan agreement, borrowing **$36,000 thousand** under a term loan maturing in 2027 and securing a **$15,000 thousand** revolver[133](index=133&type=chunk)[134](index=134&type=chunk) - The lender is now First-Citizens following the failure of SVB[134](index=134&type=chunk) Cash Flow Summary (in thousands) | Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Operating Activities | ($10,753) | ($13,512) | | Investing Activities | $11,703 | ($22,608) | | Financing Activities | $1,205 | $169 | [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "small reporting company," SI-BONE is not required to provide quantitative and qualitative disclosures about market risk - As a "small reporting company", SI-BONE is not required to provide quantitative and qualitative disclosures about market risk[146](index=146&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting - Management concluded that as of March 31, 2023, the company's disclosure controls and procedures were effective[149](index=149&type=chunk) - No changes were made to the company's internal controls over financial reporting during the quarter ended March 31, 2023, that have materially affected, or are reasonably likely to materially affect, internal control[150](index=150&type=chunk) PART II-OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal actions in the normal course of business but reports no pending matters currently deemed material - The company is not presently a party to any material legal proceedings that would have a material adverse effect on the company if determined adversely[152](index=152&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks including operating losses, reliance on the iFuse product family, supply chain disruptions, regulatory challenges, and intellectual property and financial market risks [Risks Related to Business and Industry](index=39&type=section&id=Risks%20Related%20to%20Our%20Business%20and%20Our%20Industry) The company faces business and industry risks including significant operating losses with an accumulated deficit of **$368,200 thousand**, high dependence on the iFuse product family, and supply chain disruptions - The company has a history of significant operating losses, with a net loss of **$11,100 thousand** for Q1 2023 and an accumulated deficit of **$368,200 thousand** as of March 31, 2023[157](index=157&type=chunk) - The business is highly dependent on revenue from a single family of products (iFuse, iFuse-3D, iFuse-TORQ, iFuse Bedrock Granite), making it vulnerable to market shifts or issues with this product line[194](index=194&type=chunk) - The company faces risks from prolonged inflation and supply chain disruptions, which could lead to higher costs, lost revenue, and decreased profit margins[160](index=160&type=chunk)[161](index=161&type=chunk) - Maintaining adequate coverage and reimbursement from third-party payors is critical, and any negative changes could significantly harm sales[163](index=163&type=chunk) [Risks Related to Legal and Regulatory Environment](index=57&type=section&id=Risks%20Related%20to%20Our%20Legal%20and%20Regulatory%20Environment) The company faces significant legal and regulatory risks, including compliance with FDA and foreign regulations, fraud and abuse laws, and challenges related to the new EU Medical Device Regulation (MDR) - The medical device industry is extensively regulated by the FDA and foreign agencies, and failure to comply with requirements for design, manufacturing, marketing, and sales could cause the business to suffer[236](index=236&type=chunk) - The company must comply with numerous U.S. federal and state fraud and abuse laws, including anti-kickback and false claims statutes, and failure to do so could result in significant penalties[247](index=247&type=chunk)[248](index=248&type=chunk) - Product modifications may require new 510(k) clearances or approvals, and a disagreement with the FDA on this could lead to marketing cessation or recalls[274](index=274&type=chunk) - The new EU Medical Device Regulation (MDR) introduces substantial changes and more stringent requirements, which will require a significant transition effort and could disrupt business in the EEA[288](index=288&type=chunk)[291](index=291&type=chunk) [Risks Related to Intellectual Property](index=71&type=section&id=Risks%20Related%20to%20Our%20Intellectual%20Property) The company's intellectual property risks include the expiration of core U.S. patents on the iFuse implant in November 2024, potential patent litigation, and challenges in protecting trade secrets - The company's core U.S. patents on the triangular shape of the iFuse implant expire in November 2024, which could allow competitors to introduce similar products[298](index=298&type=chunk) - The company may be subject to costly patent litigation, as the medical device industry is characterized by frequent infringement claims, which could divert management attention and financial resources[307](index=307&type=chunk) - The company relies on trade secrets and confidentiality agreements, which may not provide meaningful protection if breached or if competitors independently develop similar technology[302](index=302&type=chunk) [Risks Related to Ownership of Common Stock](index=74&type=section&id=Risks%20Related%20to%20Ownership%20of%20Our%20Common%20Stock) Risks related to common stock ownership include price volatility, fluctuating operating results, adverse banking industry developments, and restrictive covenants in the company's debt agreement - The company's stock price may be volatile due to factors like fluctuating operating results, regulatory actions, and general market conditions for healthcare stocks[309](index=309&type=chunk) - Adverse events in the banking industry, such as the failure of Silicon Valley Bank, could affect the company's operations and liquidity, although access to funds was restored[325](index=325&type=chunk)[326](index=326&type=chunk) - The company's term loan with First-Citizens contains covenants that restrict certain business activities, and a breach could lead to default and acceleration of debt[329](index=329&type=chunk)[331](index=331&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=80&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There is nothing to report under this item for the period - Nothing to report[336](index=336&type=chunk) [Defaults Upon Senior Securities](index=80&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[337](index=337&type=chunk) [Mine Safety Disclosures](index=80&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[338](index=338&type=chunk) [Other Information](index=80&type=section&id=Item%205.%20Other%20Information) The company violated a debt covenant on March 10, 2023, by transferring funds from SVB, which was later waived, but future credit access requires transferring accounts back to First-Citizens - The company violated a debt covenant on March 10, 2023, by transferring funds from SVB to another bank[339](index=339&type=chunk) - A waiver was obtained on March 24, 2023, but access to the revolving line of credit is restricted until cash management accounts are moved back to First-Citizens[339](index=339&type=chunk) [Exhibits](index=81&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including amendments to loan agreements and officer certifications

SI-BONE, Inc. (NASDAQ:SIBN) Q1 2023 Earnings Conference Call May 1, 2023 4:30 PM ET Company Participants Marissa Bych - IR, Gilmartin Group Laura Francis - Chief Executive Officer Anshul Maheshwari - Chief Financial Officer Conference Call Participants Craig Bijou - Bank of America Drew Ranieri - Morgan Stanley Young Li - Jefferies Sam Brodovsky - Truist Dave Turkaly - JMP Securities Kyle Rose - Canaccord Ross Osborn - Cantor Fitzgerald David Saxon - Needham & Company Operator Good afternoon, and welcome to ...