Okay. Good day and thank you for standing by. Welcome to Minim Investor Day 2022. At this time, all participants are in a listen only mode. For the best viewing experience, we recommend you take a moment now to click the View option in the top right corner of your screen and select side-by-side speaker. This will ensure you have a clear picture of the speaker and the slides. Again, it's the View option, select side-by-side speaker. After the speaker's presentation, there will be a question and answer session. With me on the call are senior members of the Minim team. As a reminder, all materials for today's live presentation are available on the company's investor relations website at ir.minim.com. In case we haven't met yet, my name is James Carbonara, Partner at Hayden IR, located in New York City. As a representative for Minim, I would like to let you know you can reach me at any time at investorrelations@minim.com. Before we begin, I want to remind everyone that today's conference call may contain forward-looking statements. Forward-looking statements include statements regarding the future, including expected revenue, operating margins, expenses, and future business outlook. Actual results or trends could materially differ from those contemplated by these forward-looking statements. For a discussion of such risks and uncertainties which could cause actual results to differ from those expressed or implied in the forward-looking statements, please see risk factors detailed in the company's annual report on Form 10-K, those contained in subsequent filed reports on Form 10-Q, as well as in other reports that the company files from time to time with the Securities and Exchange Commission. Please note, too, that today's call may include the use of non-GAAP numbers that management utilizes to analyze the company's performance. A reconciliation of such non-GAAP numbers to the most comparable GAAP measures is available in our most recent press release, as well as in our periodic filings with the SEC. Now I would like to turn the call over to Gray Chynoweth, the CEO of Minim. Gray, please proceed. Thanks, James. Good morning, and welcome to Minim's Investor Day. If we have not already met, by way of brief introduction, I joined Minim in 2019 after over 16 years of holding executive roles at technology companies. I was introduced to Minim by current Chairman of the Board, Jeremy Hitchcock, former founder of Dyn. Working together, Dyn grew to 500 employees and nearly $100 million in annual recurring revenue prior to being acquired by Oracle. I'm so pleased to have a chance to work closely with him again and the rest of the talented team we're building here at Minim. Let's dive right in. Wi-Fi is a huge part of all of our lives. It powers our binge-watching, it helps us turn off the lights from the couch, and lets us know who is at the door from the bedroom. We use it to explore new ideas when we learn online and to explore new worlds as we game. If your home is anything like mine, that's really just the start of the story. The past few years have pushed home networks to their limit. 43% of our homes have at least 1 person learning remotely. 55% of our homes have at least 1 person working remotely. My family's experience tells this story. A typical evening at my house looks like this. My wife does a live group run on the treadmill, my mom looks for discounts on her iPad at the kitchen table, my son switches from online homework to online gaming, and I finish work in the living room that I turned into my office. We eat dinner while enjoying some music from a smart speaker and watching something together on Disney+. While we are busy in our devices, our Wi-Fi networks are even busier. In addition to the devices we use, the ever-increasing number of smart devices that make our lives a little bit easier to work and a little bit smoother add to home network congestion and complexity. It always amazes me to think about the fact that today's U.S. household has an average of 25 connected devices and to know that number is only gonna grow. I looked at my network the other day, and I have about 45 active connections. With this shared new reality, there are millions of families like ours that have taken charge and upgraded their network. Minim helped me, and it's ready to help everyone. With our new cable modems and our patented easy-to-use onboarding process, I had an easy button that turned my Wi-Fi device from a utility into something that improves the way our family lives and works. With Minim, I have the confidence that I'm safe from cybercriminals who are out to steal our identities and Minim's corporate data. However, we're not the only ones that understand that home networks are essential to personal productivity and living better. The government gets it. In August of 2021, the US Bipartisan Infrastructure Bill went into effect. It will expand high-speed connectivity to 30 million Americans who depend on Wi-Fi as a utility in their day-to-day lives and authorizes investment of $65 billion into the expansion of the country's high-speed internet infrastructure. Just this spring, President Biden announced that some 48 million American households, 40% of the country, will become eligible for a $30 a month plan that delivers 100 Mbps on internet speeds. The private sector gets it too. A rapidly expanding number of mobile companies and challenger ISPs are introducing connectivity options to the market. Starlink, which provides internet via low Earth orbit satellites, and T-Mobile, which is expanding their mobile business to include in-home 5G internet, are 2 of the highest profile examples. The broadband industry is building on recent deployments of 1 gig internet service to deliver 10 gig speeds to homes worldwide. Great choices for connectivity are just growing. However, while the government and ISPs are shaping forces, ultimately, they're simply responding to consumer needs. Largely for the better, the lines between home and office have been erased. In our post-COVID reality in the U.S., we've seen a 42% increase in digital nomadism or being able to work from wherever you are. Today, my family needs our Wi-Fi to get work done, to watch video, to power our smart home, and to keep us safe. Tomorrow, we'll need it to do new things. In the future, we will expect our home networks to connect the devices that monitor our health, the smart fridges that order our groceries, and the gaming gear that lets us enter the metaverse. This future is arriving quickly. As soon as 2026, the market size for metaverse devices and applications is expected to reach more than $70 billion. We are not alone in seeing this opportunity. Large industry players are helping drive these trends. Apple and Samsung have joined the community backing the Matter protocol. Matter will democratize the process of IoT device integration and allow all of consumers true freedom of choice when building their smart home. Additionally, the powerful communities supporting the TIP OpenWiFi initiative promises to expand accessibility of low-cost Wi-Fi devices around the globe. These factors, along with new protocols like Wi-Fi 7, Wi-Fi 8, and 10G, are shaping forces in the predicted rise of the smart home market, which is projected to reach $495 billion by 2028 at a CAGR of more than 23% beginning in 2021. These investments, alongside today's consumer needs and tomorrow's consumer expectations, are shortening hardware replacement cycles and increasing the relevance and value that Wi-Fi management and security software can deliver. In 2022, consumer demand for network monitoring services is expected to nearly double, growing to 42% from 22% in 2021. This is just one of the factors that is driving the growth in the network security market, which is expected to maintain a 12% CAGR and reach $60 billion by 2028. This is why, as we look out over the next 5 years, Minim's mission to help people do more and live better with connectivity is more relevant than ever, and it's why our work to develop the software that helps people do this has never been more important. Not every day is easy, but we're powerfully motivated by this mission and know that our work is having a direct, positive impact on people's lives. One of our greatest advantages in achieving this mission is our ability to leverage the Motorola brand with our exclusive global license. Now midway through our second term, this long-standing relationship is 1 that brings many benefits beyond just the respected name. We receive extensive operational support as we work on issues like supply chain management, logistics, security, testing. We benefit from fantastic collaborators as we enter new markets, bring new branding and industrial designs to consumers, and develop new business relationships. As 1 of Motorola's most established and important brand licensees, we have built a durable, difficult to replicate partnership. I'll close my comments highlighting some of the reasons why people have told us they're excited to join us on our mission. They're attracted by a management team that's driving operational outperformance in important areas. They're excited by our demonstrated excellence across multiple sales channels and our ability to scale into global markets. They're excited by the powerful, easy-to-use software we're building and how it will grow customer lifetime value and change the company's operating model. They're excited by our focus on closing the gap to profitability and sustainable growth. Now I'll turn the floor over to Nicole Zheng, our President and CMO, for a look at how our corporate DNA and our focus strategies are going to propel us on our mission and help drive returns for shareholders. Nicole? Thanks, Gray. I see some familiar faces, and I want to thank everyone for coming. Today I'm going to discuss the origins of Minim and our business strategy. In December 2020, just as the United States received its first clearance to administer vaccines, Minim was formed out of a merger between 2 companies. The first company, Zoom Telephonics, was founded in 1977 as a manufacturer of communications equipment, from telephone connections to the high-speed broadband we have today. The Boston-based company reached consumers through retailers, first brick and mortar and later online too. In 2016, the company acquired the license to make and sell products under the Motorola brand. This brand license has expanded both in scope and geography as the relationship between Motorola and the company has deepened. The company became the number 3 holder in market share for cable modems and gateways, which are its core product categories. By 2019, the world had changed. Consumers were benefiting from higher-speed broadband plans, the U.S. broadband home had over 10 connected devices and growing, and streaming services were on the rise. Mesh Wi-Fi solutions were growing in popularity with mobile apps for Wi-Fi management and control. In other words, consumers were taking a more active role in building and managing their home network for the family's needs, and connected homes were about to experience the greatest stress test yet, the global pandemic. That's why in December 2020, Zoom Telephonics merged with a young software company called Minim. Minim is a Wi-Fi as a service platform with proprietary cloud technology to protect and optimize the home network. Minim's platform came with an intuitive web and mobile application to meet the demands for the modern consumer. Here's a bit of a look under the hood. Minim's cloud platform securely communicates with the home router to perform AI-driven device identification and behavioral analysis. What this means is that our cloud is able to detect when your home devices are behaving or when they're misbehaving. When we first unleashed our product, Minim uncovered that an employee's smart sprinkler system in his yard was reporting back to a foreign entity, and Minim stopped this in its tracks. Minim software applications make it easy to block cybersecurity threats, share Wi-Fi access, protect kids on the internet, suppress ads, and more. Our patent-pending device setup also makes it easy for folks like my parents to set up a full mesh Wi-Fi system like IT pros. Our strategic differentiation lies in the deep and growing value that we provide through the app, leading in cybersecurity, usability, and support. It's like the difference between locking your door and installing a full security system. What's more, as a competitive edge, Minim built its platform for ease of integration and work with all kinds of third-party hardware. With this software platform and Motorola hardware, the combined company now delivers turnkey advanced connectivity solutions, which was the core thesis of the merger. The combined company was rebranded to Minim Inc. in December 2020 and has a new management team, which was installed from the software side, including Gray and me. Adding more seasoned talent to the team over the course of last year, we're working to execute on the vision that the home router must go the way of the mobile phone. It must provide frequent updates, helpful apps, and an intuitive interface. In other words, helping people do more and live better with connectivity requires intelligent software. Here you can see the app that we launched as a combined company, Moto Sync, powered by Minim. As Gray illustrated, it helps people personalize and secure their home network according to their family's needs. As a combined company, Minim has 2 routes to market, direct to consumer and via internet service providers or ISPs. To reach consumers, we sell our intelligent networking products through leading U.S. retailers. Our products are distinguished by the value pack software, including advanced security at no additional fee, ease of use, extended warranty with U.S.-based support, and pricing that makes high performance connectivity accessible. Increasingly, we're differentiating on shelves with product and packaging design. We're growing in our e-commerce channels, which Christina will discuss shortly, as well as our average selling price with software-enabled solutions. Notably, our industry has been affected by increase in component costs, and we have kept pace with the market on increasing pricing, which has also contributed to our ASP growth. Our second route to market comes from the software side of the business. We maintain a web application to help customer service representatives at ISPs better support their broadband subscribers. ISPs are also able to white label our mobile application to remain competitive in the market with a cutting-edge mobile app. Here, Minim charges a software license fee per activated subscriber, and our offering is distinguished by an extremely competitive pricing plan, cybersecurity functionality, and integrability. While many of our competitors box themselves out of emerging markets with the cost of their solution, Minim was designed to work on both premium and value hardware. To date, we have served over 140 small ISPs, rural ISPs, predominantly in the U.S., helping them reduce support costs by up to 50%, increase average revenue per subscriber by 10%, and materially increase customer retention for an improved bottom line. As international markets adopt this model, we are pleased to announce 3 large customer trials that collectively represent 33 million subscribers. While sales cycles can be up to 18 months, these are very exciting opportunities. Turning back to our strategy, we set out to transform the combined company into a software-centric firm. In a software-centric firm, our mobile app takes center stage to create deep, lasting relationships with the customer for growing customer lifetime value or CLTV. As you can see here, we illustrate how this takes place with expanding gross revenue. The following numbers that you see are demonstrative. A Best Buy customer purchased a Motorola modem to save on their equipment rental fees. Right on the box, the customer is encouraged to download the MotoSync app for help. They register with their contact details. Later, the MotoSync app offers loyalty discounts to the customer for our latest mesh Wi-Fi system, tripling the CLTV. Furthermore, the customer upgrades their live support plan and is retained for 2 years on that plan. That represents a software-only purchase with expanded gross margins and an even higher CLTV. I hope investors today are as excited about the opportunity our software transformation creates as we are. To support our execution plans, we made a few moves last summer. First, we uplisted to the Nasdaq on July 7, 2021 to build investor visibility. Not 1 month later, on August 2, we closed a $25 million public offering for general corporate and working capital purposes. This helped us invest in our inventory position to mitigate supply chain risk and also to invest in R&D to bring the software transformation to bear. With that, I'd like to introduce Lakshmi Kadiyala, VP of Software Engineering, to walk you through our development roadmap. Thank you, Nicole. It's great to be here today. I joined Minim late last year and was particularly attracted to Minim's software transformation strategy. Since joining, I've bolstered the team with top-notch talent. Alongside a highly customer-centric approach to all products, Minim embodies values of trust, simplicity, and staying ahead of the curve. Our ambitious and innovative product map can be defined by 3 software transformation work streams. The first work stream, known as software enablement, is to bundle in the MotoSync app for an intelligent network experience. This will give all Motorola networking customers increased control, diagnostics, security, and live chat support through our mobile app. In return, the business benefits from developing lasting relationships with customers for loyalty programs and upsells in both hardware product and software features. In the past 12 months, we enabled approximately 20% of our product portfolio, and we are targeting 100% by end of the year. The second work stream, known as feature upgrades, entails delivering software upgrade features through mobile app to provide increasing and differentiated product value. In return, the business benefits from delivering subscription-based high-margin software services. Earlier this year, we released in-app live chat support. This is a step towards a paid support plan. In 2023, with the third stream, we plan to break ground on a truly transformational effort to provide mobile app value, not just on Motorola networks, but on any Wi-Fi network, wherever you are. User can test Wi-Fi performance and security in a coffee shop, rate it, secure it, and discover Wi-Fi networks with high marks. This provides an opportunity to increase user acquisition by orders of magnitude without the constraint of a hardware purchase. With these 3 work streams, we expect to transform our business model with improved margins, more recurring revenue, and stickier customer relationships. In the following slides, I will provide an overview of a few key features delivered in the recent past. Minim believes in user empowerment. From telemetry data passed by the networking devices to Minim cloud platform, users have a high amount of data at their disposal. The key here, however, is to present the data in a relatable way to the users. The mobile app presents this data, enabling users to take informed decisions. The quality of network connection is dependent on both the building size and the neighboring networks that could cause interference. Through the mobile app, users can select Wi-Fi optimization mode based on these 2 factors, and in the background, their channel width is adjusted for optimal network performance. MotoSync became the first home networking mobile app to provide in-app chat support. It offers live support with networking specialists without needing to leave the app, with an average response time of about a minute. Minim, as a company, is highly sensitive to and very connected to its customers, and regularly pays close attention to the reviews and feedback from the customers and market. These are a few recent great examples. In 2021, there were about 258 million smart homes around the world, with U.S. as the biggest market. Smart homes are the way of future. Smart homes have devices competing for network resources, and they are also prone to security threats. IoT-based fingerprinting enables identification of devices on a network, and Minim has built truly superior fingerprinting capabilities. As powerful as a Wi-Fi network is towards creating wonderful experiences for users, it is unarguably a highly technical domain for most users to grasp and make the most of. Keeping this in view, Minim has developed a simplified, intuitive, and fast onboarding process. Scanning of QR code on the networking device with the mobile app kickstarts the onboarding process and finishes in about 5 minutes. To enable our users to secure their network, own their data, share, and even monetize their network, Minim has a blockchain-based patented registration and encryption solution. This lays the groundwork for futuristic, ultra-high bandwidth applications like metaverse. In summary, we continue down the path of software enabling our hardware portfolio, building high-value features for potential upgrades, and delivering mobile app value both on and off network. Next, I'd like to introduce Bill Wallace, VP of Hardware Engineering, for a look at our hardware roadmap. Thanks, Lakshmi. We joined Minim at about the same time last year. I came from spending over 20 years at ARRIS/CommScope in hardware engineering leadership roles. I, too, was attracted by Minim software strategy and speed to innovation. There are a number of exciting technologies coming down the pipe for hardware development. Today, I'll walk through our philosophies for product roadmap development. We begin with a mindset of good, better, best to ensure market breadth. Over time, products slide down the list when newer advanced products are released. However, we may also identify opportunities where gaps exist in the good, better, best lineup against our competition. As mentioned earlier today, we are adding intelligence to our modem products with the MotoSync app, as well as bundling modems and Wi-Fi products to give the consumer ultimate flexibility in their home solution. Even in the throes of a pandemic, technology is advancing at a rapid pace. The areas of Wi-Fi 6E, Wi-Fi 7, Matter, DOCSIS 4.0, machine learning, and many other exciting capabilities provide Minim the opportunity to explore new product categories, ultimately to keep Wi-Fi safe and secure for everyone. Wi-Fi has become synonymous with the internet in many households, and Minim is on a mission to provide seamless connectivity throughout the home. Our new mesh products allow consumers to blanket the home with coverage and a true mesh capability for consumers' untethered mobile devices. All of this with consumer-friendly support, installation, and operation using the MotoSync app at a truly affordable price. Finally, we will further expand our product sustainability initiatives beyond elimination of single-use plastics to include the use of recycled materials such as cardboard and plastics. Wi-Fi connectivity today is pervasive in the home, and it should be a welcome addition to your decor, not something you wish to hide away behind a couch or in a cabinet. Our industrial design team and engineering staff created an artful yet highly functional industrial design and we're excited to roll that out this year. The unique component of this design is the fabric wrapping that fits seamlessly into any home. First to hit the market is our Q14 Wi-Fi 6E tri-band mesh router, shown on the right, followed by the B12, a 2.5 gigabit Ethernet bridge modem, shown on the left. The B12 will replace our top-selling MB8611 later this year. The busy home today, full of portable devices moving freely around the home, needs safe and supported connectivity everywhere. Our new Q14 mesh Wi-Fi system not only fits well in a modern decor. It eliminates poor coverage areas allowing seamless roaming between units. The powerful 6 GHz radio provides a solid backhaul between the main router and the satellite devices and also can be used by an emerging set of client devices such as the Google Pixel phone and several new laptop computers that support 6 GHz connectivity. Another exciting product released at the end of 2021 is our MT8733 voice gateway featuring a multi-gig modem and Wi-Fi 6 dual band router as well as 2 telephony ports. This device is compatible with Xfinity internet and voice, giving the consumer an option to lease a device from the MSO. With DOCSIS 3.1 and AX6000 speeds coupled with a single 2.5 Gigabit Ethernet and 3 1 Gigabit Ethernet LAN ports, the MT8733 is ideal for 1 gigabit per second service tiers. The device currently has 4.7 out of 5 stars at Best Buy. Today more than ever, supply chain resiliency is a key to developing and delivering consistent performance quality and security in our products. Minim's approved vendor list has expanded by over 25% in the last 12 months. Working with multiple suppliers at all levels allows us to minimize support costs and keep component and product costs at a minim-minimum. Our engineering and operations teams work together to foster a competitive situation with our supply chain to manage cost in this difficult economy. We feel that utilizing multiple component vendors allows differentiation in our markets by utilizing the most feature optimized and monetarily appropriate devices for our unique products. Our R&D focus and product development plans going forward will build upon the use of modularity in our design practice. This includes components such as alternate suppliers as well as functional modules that can be swapped to create new products quickly. We also must plan for technology growth, which continues at its rapid pace. This is achieved through long-range vision and planning of a product's implementation to support a future technology with minimal design changes. We've also formed a partnership with an acclaimed university for Wi-Fi test services as well as increased our internal hardware and software testing capabilities to ensure the highest quality products. Minim utilizes an employee test program as well, but we've recently increased the depth and breadth of this program, which occurs well before product launch to ensure the best user experience when the product reaches a consumer's home. New technologies on the horizon are plentiful and exciting. These new standards, including Wi-Fi 7, DOCSIS 4.0, Matter, and 5G, to name a few, will bring great functionality to our customers and create interesting product opportunities for Minim. We are reviewing these and other technologies and envision a new product category entry next year. Finally, an area of significant interest to me personally is our sustainability initiatives. I mentioned this earlier, and I'm really excited to continue this activity with further reductions in single-use plastic and the inclusion of recycled materials such as cardboard and housing plastics where we can make a positive impact to the environment. Now I'd like to turn the floor over to Christina Martino, our Vice President of Marketing Performance, to share her insights on Minim. Thanks, Bill. Good morning. I'm Christina Martino, Vice President of Marketing Performance at Minim. As a consumer, buying and selling online is easier than ever. Even as in-person shopping resumes, e-commerce sales continue to grow. According to industry experts, e-commerce will account for 20% of global retail sales by the end of 2022, up from only 10% 5 years ago. For Minim, 2021 was a year of strong foundation building for e-commerce sales channels and that momentum continues into 2022. Having built an in-house e-commerce team, we've been able to deliver a strong e-commerce strategy that focuses on growing our market share through existing marketplaces where consumers go to make their brand choice. To that end, we've taken our Motorola modems and gateway products to the number 1 position on Amazon, growing our market share to over 41% year to date. Motorola has had a long-standing reputation as a trusted brand name for technology, and now we are the consumer's choice for modem and gateway products on Amazon. In addition to our success in e-commerce, we have seen growth across the entire U.S. market with our NPD dollar share increasing from 13% in 2020 to 25% in 2022. Now, on to our Amazon account performance. 2021 was truly a winning year. We grew our sales 46% as well as increased our market share of the modem and gateway category to 41%, making us the clear market leader. Through our digital strategy and efficient targeted advertising, we successfully increased our traffic by 19% while improving our return on ad spend by 14%, and we increased our average order value to $148 per transaction. We have also made strides in improving our online branding and customer satisfaction. With our new content and dedicated customer service team, we've been able to improve our content score by over 10%, and we now have over 65,000 reviews on Amazon. While we have strong retail partnerships across both e-commerce and brick-and-mortar, we see that Amazon's strength in the networking category is significant, so having a success in this channel ensures that we remain the consumer's brand choice. Our e-commerce team has been able to execute and deliver clear goals that focus not only on digital advertising performance, but also operational excellence. The results have led to successful Amazon sales and strong foundation building for our other e-commerce channels. We've not only captured the number 1 position in Amazon, but we've also taken over the direct management of walmart.com. This change has allowed us to surpass our entire 2021 online sales in just the first 2 quarters of 2022. We also focus our efforts to improve our existing retailers' online presence and sales. This has resulted in improved conversion and ad performance on both bestbuy.com and target.com. Additionally, in the back half of 2021, we relaunched our direct-to-consumer site, motorolanetwork.com. Having this direct channel allows us to elevate our brand promise and helps to deliver a solid customer loyalty strategy. Finally, in 2021, we launched our first international market, India, where we partnered with Flipkart, Amazon, and other local retail partners to launch our Mesh WiFi product. We will continue to pursue additional markets in 2022 as a strategy to expand our global presence. As we look at 2022 and beyond, we see e-commerce as a pivotal part of our growth strategy. Our customers already choose an online marketplace as their preferred location for their networking purchases, and we want to ensure that they're receiving the best brand experience we can offer. These customers already trust the Motorola name to deliver high quality and high performance. We can deliver on the promise digitally through educational content, videos, and live support to ensure that they are making the right purchase decision. You will see that we have expanded our content, and we are looking to engage in social selling strategy. Our advertising strategies remain focused on lower funnel conversion initiatives, as they're efficient and deliver strong results. In new category introductions like Mesh, where there's a lower brand awareness, we are engaging in more branding ads and top funnel activity. We have a large opportunity to convert our modem and gateway customers to become whole-home network users. Building our direct-to-consumer site is a critical part of winning the customer journey and strengthening our relationship with Motorola customers. In a category like networking, consumers have real uncertainty when trying to find the right product for their home Wi-Fi needs. Having a dedicated site for Motorola networking allows us to educate our consumers, work with them directly, and help them to make the best choice in their path to purchase. Going direct to consumer also allows us to cross-sell a full Motorola home network and offer a loyal customer upgraded technology. As a result, mapping out the customer journey, delivering clear messaging and personalized touches are the keys that we need to drive purchase and loyalty. Last, but certainly not least, while I've discussed our successes in e-commerce, I want to also take a moment to highlight the great strides that we have made in strengthening our retail partnerships and our growth in our in-store business. Our longtime partnerships with retailers like Best Buy and Target have grown this past year. We've expanded our retail sales team with several industry experts, including a national sales director, sales manager, and a retail marketing team. This has allowed us to improve our branding in store, create effective retail marketing programs, and increase our content on e-tail sites. Additionally, we have established new partnerships with industry-leading groups, including Summit Growth Partners, USI Sales, and Best-In-Class suppliers. These partnerships are accelerating our distribution growth in new channels like office supply, home improvement, club stores, and more. You may have seen our recent announcement of the Motorola MT8733 gaining distribution in Best Buy stores this summer. I'm also really pleased to announce that our partnership with Target is growing in 2022, and Motorola will have significantly expanded distribution in store and online. To summarize, when looking at Minim and this past year's unprecedented growth in e-commerce and our wins at retail, I can say that we have built a solid foundation for growth. I'm excited to make our brand the consumer choice in networking across all channels. Now I'd like to turn the floor to Mehul Patel, our chief financial officer, to share his financial insights on Minim. Thanks, Christina. As a friendly reminder that the financials I'll cover are also depicted in investor day presentation that has been posted on ir.minim.com. Let's start things off with a look at market dynamics. The world continues to need incredible broadband at home. Experts say remote work is here to stay and predict it'll continue to increase through 2023. Smart home analyst Parks Associates just released their estimate for number of connected devices per U.S. broadband home. In 2021, this number went up by 16 devices, a 23% increase. However, we're starting to see a return to pre-pandemic purchasing levels on home networking equipment. It appears there was a rush to upgrade home networks in height of pandemic, and much of the industry is adjusting back to normal demand levels. However, despite this trend, Minim continues to outperform. We had historical growth from 2019, pre-pandemic, through 2021, with the revenue up 47%. During those years, we are now turning back to the modest growth. The primary headwinds to further accelerate our growth are those brought by supply chain disruptions, consumer demand, and that remains elevated when compared to pre-pandemic levels but below peak pandemic levels, and potential impacts that inflation may have on home networking purchases throughout the year. These headwinds, among others, have affected several technology sectors on both major U.S. exchanges. Despite the headwinds, we continue to execute our plan to drive our performance. We're working to increase the number of retail distribution partners in the U.S. We recently have signed on 3 distributors to help us expand our current market. We're driving growth in U.S. market in our primary market segment and expanding penetration in the new segments, and we continue our efforts to expand beyond the U.S. market. During this time, we also enhanced our senior leadership team in place with extensive industry experience to help manage these headwinds and continue to grow. Further growth. For example, our execution on outperforming on Amazon and moving from 3 in market share to 1 in market share and continue to outperform at Best Buy as well. Our revenue for Q1 2022 totaled about $13.3 million, which is up 27% over prior quarter. We're encouraged by our revenue growth for the quarter and with the fact that it is up 11% or $1.3 million compared to pre-pandemic level of Q1 2020. That said, our Q1 net sales did shrink 11% compared to peak pandemic levels of Q1 2021. The latest analyst reports continue to estimate Minim to grow for the rest of 2022, with an estimated growth of 10% + from FY 2021 to estimated FY 2022. Our focus this year is to execute on 100% intelligent products by end of the year and continue to execute on our software transformation initiative. This will allow us to improve gross margin percentage and provide more value to our customers going forward. Lastly, brief discussion on our stock value. As indicated in our April 27, 2022 filing, on April 25, 2022, Minim received a notification from Nasdaq that the company no longer meets the minimum bid price requirement of $1. If the company does not regain compliance by October 24th, 2022, the company may be eligible for additional 180 calendar days compliance period. On this front, the company intends to continue to monitor our stock price, build sustainable growth, and corporate values through execution of its operating plans and engage advisors to consider available options. Now, looking forward to the next 3 to 5 years, we're aiming to double our revenue with many opportunities ahead of us. During this time, we expect to increase our anticipated 100,000 intelligent networks by the end of 2022 to over 1 million intelligent networks. This would allow Minim to expand CLTV of intelligent networks by 10% through royalty programs and feature upsell opportunities. We're constantly looking for new markets and new channels to scale our product portfolio and improve our absorption and gross margin. With our planned execution of software transformation, we're targeting gross margin expansion to 35% to 45% in the coming years. With that, I'll turn it over to Gray for well, final comments before we open the line for questions. Gray? Thank you, Mehul. Thank you to the team. In closing, I'd like to reiterate how proud I am of the company's ability to outperform the market in our last quarter. Going forward, inspired by our mission to help people do more and live better through connectivity, we will remain laser-focused on driving our software transformation and on sustainable growth, and unceasingly committed to building increased value for our customers, our crew, and our investors. Thank you all for your attendance, and we look forward to meeting with those of you that can make it to our cocktail hour in New York City later today. I'd like to open the line for questions. Please raise your hand, and we will unmute your device for the conversation. Thank you. All right. Well, if there's no questions, Leah, do you- It looks like there's- There's a few questions. Oh. Yeah. Josh Nichols? Hey, thanks for taking my question. If you could touch on a little bit more the expanded partnership with Target, I think it was noted that that was gonna grow both online and in store this year. Could you elaborate a little bit on what type of partnership you've had with them historically and how that's set to grow this year? Sure. Thanks, Josh. I'll turn that to either you, Nicole, or Christina to comment on the growth of this relationship. Sure. H istorically, we have had placement both online and in-store with Target. Around the pandemic times, Target, which is predominantly an in-store retailer, they reduced their in-store placement with us, as they had a reduced volume and focused on their online efforts. As of recently, we're just proud to announce, as Christina mentioned, that we are actually getting back in stores with 5 SKUs. Super exciting. We have not released the timeframe for that yet, but it is happening this year. I'll also just 1 additional note for that, thanks Nicole, is that there's really 2 things that we pay attention to with Target or with any retailer. The first one is whether we're, you know, how we're selling online. Second one is whether we're selling in the store. Then third thing is how many stores we're selling in. T here's really 2 vectors of growth of opportunity we have with each retailer. T hat's really exciting for us with Target to be able to make sure that we're getting out to as many stores as possible, and that'll increase volumes, even in the face of, you know, if demand went down overall, we would still be able to achieve growth as a result of penetrating more stores. Josh, is that helpful? It is. I guess on a similar accord, if you could just kinda talk about, you mentioned, Best Buy, right? So you're doing some expansion with this new, in-store device that you're gonna have later this summer. If you could elaborate on that. Is this more of like an incremental opportunity, or it could be more of a needle mover you see? Nicole, you wanna comment on that? Sure. Our press release went out this week. I encourage everybody to check it out. Essentially, this marks the placement of our first AX gateway in-store, so our highest performance gateway yet. The MT8733 is specifically designed for Comcast customers, as it actually supports Xfinity Voice. Best Buy has opted to put it into their stores that they know to serve several Comcast customers. This does represent, to your question, Josh, a shelf expansion for us. It was not a replacement, it's an add. To that end, it's seen as an incremental add to our overall placement. You know, which will help us, you know, as we enter it in, it'll help us as we go throughout the year. Obviously, you know, the later in the year that we get those store number expansions or the shelf expansions, the less impact it'll have on revenue this year. The run rate for the revenue obviously gives us, you know, positive tailwinds on that front. Looking at the 3 to 5-year outlook that you mentioned, so, you know, double-digit% growth, and I think you mentioned margin expansion as well, getting into the mid- to high 30s%. Anything that you could talk about more near-term as far as profitability is something that you've mentioned on this call and previously, and when you expect where you may be able to transition to sustained EBITDA profitability? I guess I'll say at the outset that we've always been focused on sustainable growth. For us, that means that as we consider our operating plan, it doesn't require additional capital to drive it. Beyond that, Mehul, I'll let you comment on kind of gross margin and profitability looks. Thanks, Gray. Josh. As we discussed before as well, and we had talked about during our last earnings call, we continue to monitor the rest of the year with you know where the market is going and how we're expanding. If things are coming to fruition to what we what Nicole just laid out with Target, with Best Buy, with Amazon, you know that continues to help our executional plan that we have set out for the rest of the year. What we've talked in the past and no change from that, we continue to monitor that and continue to sustain 30%+ gross margin. We have also mentioned that in order to make sure we sustain that, we're gonna look at potentially H2 of the year price increases on certain models and on certain places. We're working through that. Overall, execution on strategy or execution plans that we have set out and, you know, checking them off 1 at a time as we've done is the goal, and we'll continue to make sure we monitor to the 30+% margin, Josh. Thanks. The last question from me, I wanted to dive a little bit into the direct management that you've taken over with Walmart. I think you said you mentioned that the sales in the first couple months of this year have surpassed all of 2021. Could you elaborate a little bit on what you've done there and how that's improved the sales process? Is that simply something that could be replicated with other retailers as well? Thanks, Josh, for the question. It's a really exciting development for us. Nicole's been deeply involved in this from the very beginning, including bringing on Christina at the beginning of last year. Nicole, do you wanna comment on how we think that'll be helpful for the sales efforts? Absolutely. Initially, when we rolled out with Walmart and distributing through Walmart, we did this through a third party distributor. Essentially we sell product to the distributor who then sells product to Walmart. In doing that, the placement online is actually controlled by, or was controlled by the distributor themselves. What we decided to try out, given the incredible performance that Christina's team had last year and this year on Amazon, is actually going directly to walmart.com through a very similar model that we have on Amazon, so fulfillment by Walmart. In doing that, we were able to take control of the online presence. That means we're in charge of our listings, we're in charge of the ad strategy, and all of the tools that Christina's team needs to optimize our placement there. We've already seen incredible gains on our sales to date. We look at Walmart.com, at the total revenue opportunity and believe that it represents about a 5% uplift in a potential revenue opportunity for Minim, and that's on an annual basis. We're super excited about that. Great. Thank you. I'll let someone else take a chance. Thanks, Josh. Thanks, Josh. Ryan, are you there? I am. Hi, thanks for the question. Sounds like you're primarily focused on direct-to-consumer sales. Do you have access to the kinda operator-leased model, and can you share any insights on what's the mix out there today on consumer purchased versus operator leased home networking gear? Nicole, I saw you come off mute there. Do you wanna comment on that one? Sure. We are certainly primarily focused on direct to consumer from if you were to take just sort of a total spend strategy across the company. That's because it makes up the lion's share of our revenue today. We do service or have serviced over 140 ISPs predominantly in the U.S. We know that essentially we have a working product and a product that is sticky. We have retained customers in that segment. Certainly providing services down to smaller ISPs has not been as sort of fast to revenue as say larger ISPs or direct to consumer. We continue to support that line, but what's very exciting is that, particularly in international markets, Minim is an attractive solution to other Wi-Fi as a service platforms. We have engineered our platform so that it can work with both high-end and lower-end hardware, which means that as emerging markets are adopting managed Wi-Fi solutions, they're actually looking for, you know, more cost-friendly solutions, and we fit the bill. To that end, we do have 3 trials running right now with larger ISPs, tier 1, tier 2. Collectively, as I mentioned, they represent 33 million subscribers. To give you an idea, we're currently about 80,000 subscribers, so that would be incredibly significant, and also that would represent a software sale, so higher margin sales as we charge a subscription fee. That outlook on those 3 trials, they generally take up to 18 months in a sales cycle, and we started the clock a little earlier this year. When we talk about what does this mean in terms of revenue uplift, et cetera, I can tell you that right now in our models, it's upside. The models you see from B. Riley, the great folks there, including Josh, it is not included. It's upside. super excited and hope that those work out, and we continue to work with our smaller operators as well as welcome larger operator relationships. Okay. That's super helpful. Thank you. Follow up here on the consumer sales. What's the main driver here for the purchase? Is it just home network performance improvements? Is it, hey, we've got you know, upgraded broadband speeds from the provider, you know, so we want to be able to deliver that over Wi-Fi? Or are there actual compatibility issues with, say, stepping up to DOCSIS 3.1, so your you know, your gear, your legacy equipment isn't performing as well, so you should swap it out? Can you kinda walk me through some of those drivers for the purchase? Thanks. Ryan. I think you nailed a lot of them. You know, why are people making that upgrade decision? They're making it because they want to see improved network performance. They're making it because in the case of mesh, they want to have more control over their network. They're making it because they want to stop paying fees they're paying currently to their MSO. You know, those are the core drivers as you think about the buyer's journey toward it, right? You can think about a couple different ways. I think this is why we're so excited about our e-commerce prowess because it really is being driven by those relationships that we build with consumers online, even if it ends up in the store, right? We know that a purchaser's gonna come to Best Buy, they'll probably look online before. They may even look online in the store. Having a great presence on bestbuy.com, on amazon.com, across all the other platforms really allows us to build that sticky relationship. You know, you think about the different buyer kind of journeys as they arrive beyond that motivation. That's why we're excited about, you know, the more stores with our retailers, adding more shelf space at those stores, and the important development about making all of our devices intelligent and enabling that buyer's journey to start at the first purchase, but to continue from there on. You can think about those multiple different motivations, like we referenced. You know, I guess the last 1 I would say is, you know, just in that category of living at home, you see so many more people doing, you know, from gaming to the metaverse, that's moving beyond streaming, right, and into a much more kind of demanding network environment that's causing people to wanna upgrade their networks. That's great. Thank you. All right. Thanks, Ryan. Appreciate your questions. Leah, anyone else in the queue? I don't see any other questions. Awesome. Well, with that, thank you everyone for participating. We're excited. If anyone happens to be in New York, you know, we are down here today in the city. I think highlighting for me, you know, really the nature of digital nomadism and the nature of the distributed workforce. I was talking to Josh earlier today and was remarking on it, and he was commenting back to... I'm sorry, talking to James the other day, and he was commenting that it really reinforces the need for connectivity, and for that connectivity to really follow us where we go and to serve our needs. Excited to be down here in New York. Hopefully some of you can join us at the cocktail party. Appreciate everyone's time, and look forward to seeing you online or in person going forward.