Good afternoon. This is Jason presenting Laird Superfood. Hey, guys. How y'all doing? I'm going to speak into this, I guess. Can you click that. Oh, it's for the broadcast. That's a great point. Okay, great. In that case, I'll go ahead and use it. I am Jason Vieth. I'm the CEO of Laird Superfood. I've been at the helm of Laird for about the last four years. When I joined, the Laird Superfood brand was about a $28 million top-line business, so a very small public company business. At the time, it was in a little bit of trouble. We had made an acquisition of a brand called Picky Bars, which turned out not to be a very viable brand or business in the long run. Essentially, we were a $28 million business. We're $35 million reported because of Picky, we were a $28 million business that at the time was losing, if I remember right around $25 million per year. It was in a world of hurt. Company had gone public, raised a lot of money, and was spending like a company that raised a lot of money. We recognized as I came in, and frankly, that's the reason I have a job, right? Somebody has to come in to change that trajectory. I came in, we realized that we needed to make some big moves. We needed to switch from being a DTC-led online business to transition over into being a retail-led business, get to wholesale, where you have consumers shopping the shelves. We had just come through COVID, you remember? At the time, I even had a top-notch consulting firm that I had worked with previously in my former position that had told us, "Online shopping is now how everyone's going to shop. People are never going back to the grocery stores." They actually said that, which is kind of funny to think back to now. Said that during COVID. There was a paradigm shift that had to take place, and we leaned into that pretty aggressively in those first few months when I got here. We also shut down our facility. We were manufacturing up in Oregon. We were running about a 15% OEE when I got here, so 15% utilization. At the time, we were running effectively about a 15% gross profit margin as well. That's because when you operate that inefficiently, there's a lot of extra costs that cannot be allocated anywhere. We shut all that down. We went through a major transformation. We spent just around two years to fully get through that, whereby we turned the business from a 15% margin into about a 40%, at the time, a 45% margin, I think, was the high watermark. We moved to asset light supply chain, really minimized, shrunk down the G&A and built a very different business. We put ourselves in position through that time to survive. Not to thrive, but to survive. We were, at that point, cash flow neutral. We weren't bleeding any more cash. We weren't really in position to raise money. I think we had lost the trust of investors at that point as a company. Stock price had deteriorated quite a lot. We needed to rebuild that. Over the course of that time period, going through that transformation then in the next subsequent year after that, we turned the business from, as I mentioned, about a $28 million brand to about a $56 million brand while undergoing that transition, working our way out of a going concern with the accountants. Basically, put ourselves in position to be able to run forward. We, I don't know, what would that be? Four years doubling, that's about an 18% CAGR during that time period. I think a pretty respectable top-line growth for the transformation that we were going through. We're in position to only be able to spend maybe $4 million, $5 million of marketing a year in categories where competitors are spending quite a lot more. We needed to do something different. That's the backstory to tell you where we were a year ago. When I came in a year ago, I said, "Hey, we've got a real gem of a business. We're not losing money anymore. We can keep growing this thing 15%, maybe 20% a year for the foreseeable future, push ourselves to profitability. We're a great investment relative to the share price we're at." Really what I wanted to do, and I had mentioned in that meeting and all other meetings when I was talking to the street, was I really wanted to make the Laird Superfood brand one leg of the stool. That was to have a strategy whereby we rolled up superfood brands into a portfolio of brands. That's what we've undertaken. As you look at this first slide, that was the strategy that we outlined, and that's what we've undertaken in the last year. Relative to a year ago when I got here, what did we do? Well, we leveraged a proven management team, some really great capabilities that I mentioned that we built out as we went to this leaner team, and this asset-light model of supply chain. We got really good at procuring. We got really good at manufacturing, really good at distributing. That's how we pushed our gross margin up as high as we did. We realized if we go buy another business that isn't doing that as effectively, we can really improve their margin structure as well. We brought in Nexus Capital, as I mentioned. We were looking for somebody that could help bring us pipeline visibility and capital for growth. I'll talk a little bit more about Nexus and what that's done to transform our business in just a moment. I mentioned we're a consolidator in the superfoods market. That is our strategy now. Why should you believe in that? Well, let me tell you what superfoods are to us. You see Laird Superfood in the middle, and I'm going to confuse you guys today because we still have not renamed the company. We have Laird Superfood brand, which is about a third, just under a third of the total business, and we have Laird Superfood Company, LSF, the company, the ticker symbol, the company. Here I'm talking about Laird Superfood, the company. What is superfoods to Laird Superfood? Well, they are foods that are minimally processed, taken from as close to the Earth, and given to consumers in that form wherever possible. They're nutrient-dense. Which, by the way, is incredible for what's going on with GLP-1 right now. People need heavy nutrients in a small amount of food. That's what we are. We will be organic whenever possible. We acquired two brands I'll tell you about in a minute, both of which are organic. We are minimal ingredients and minimal processing. At a time where you have unnamed companies in our space that have taken a beating for the over-processed food that they're delivering and all the health problems that that creates for consumers, we're the exact opposite. All these products that you see in front of them, this product contains two ingredients, it's coffee and it's mushrooms. This coffee or this creamer rather contains two, three ingredients. It's coconut powder, coconut sugar, small amount, not a lot, and mushrooms. The mushrooms are highly adaptogenic, great for a number of aspects of your health. Same thing, Navitas, I'll talk about this in a minute. Cacao powder, guess what? One ingredient. Same thing, you get to a number of other ingredients. It means you have to be really great at sourcing. You have to be really great at production. You got to time your product right to keep it fresh. You've got to make sure it moves when it gets to the shelf. You have to deliver freshness, because ultimately, that's what you're winning on. You're winning on fresh, great-tasting products. You have to know where they come from. You have to know how they're produced. You have to get to the best source, and you have to get it to consumers because you don't get to trick them. You don't get to put in artificial ingredients. You don't get to put in natural ingredients because the dirty secret about natural flavorings rather. The dirty secret about natural flavors is they're not actually natural. They're usually extracted using petrochemicals almost always, and the petrochemical goes along for the ride. They don't have to label it, but it's in your food. There are a lot of other things when you turn over the back of a pack of product that you'll find are not in our foods, but are in a lot of our competitor foods. Why are we excited about superfoods? Well, it's a very fast-growing market. You see at the top, the organic food market's growing at about a 5% CAGR, from $72 billion to a projected $100 billion by 2030. It's incredible for me to look at that. I was back at WhiteWave Foods, putting together presentations and sharing them in similar settings when we were talking about Horizon Organic and the organic market, and just trying to get the organic market at that point to $25 billion and then $50 billion. Here it is now at $72 billion. It's obviously fulfilling all of the growth expectations that we had back then, and we expect it to continue at that pace because consumers, especially in the United States, have not been eating great foods for a long time. It shows up in all of the metabolic diseases that people are talking, finally talking about, and all of the cancer rates that have exploded over the last couple of decades. It is killing us, literally our food is killing us. For the organic food market and then below it, the global superfood market, you are going to see very strong growth into the future. Food doesn't grow like this. I was just talking to one of the investors up front, and he was sharing, "What are you seeing in natural foods? Is it still growing?" Because food market's not growing. Basically, food grows at the rate that the consumer population grows, and right now we're not growing our consumer population in the U.S. at the same level we were. Food is slowing down, but not in this space. You can see off on the right, there's some really good information there, and more reasons to believe. 89% of consumers prefer functional foods. 77% of millennial and Gen Z, the younger generations that are just starting to become paying consumers, 77% believe that organic is important. 2/3 of those same consumers purchased functional nutrition products in the last year. They're buying them. 74% are willing to pay more for products that are of high quality and functional benefits. People are willing to pay, and they are paying. That's why you're seeing this growth. For Laird Superfood, the foundation's set. We are creating now a superfood powerhouse. 2015 we were founded, 2020 we went public. I mentioned all the challenges we had post going public. We used the next few years to transform the business as I described to you, and put ourselves in position to take an investment from Nexus Capital, which you can see is indicated at $110 million. That was done in two tranches. The first investment was $50 million, and we bought Navitas. Navitas is one of the top producers, especially in the natural channel, of all of the products that I mentioned, close-to-the-earth products, Cacao, Goji, Matcha, Hemp, Chia, et cetera. It's a great organic business. It's been around for about 10 more years than Laird Superfood, founded by folks that were passionate in this space. They grew up the business. We bought it at just around a 1x revenue multiple, very attractive number. When we did it, we announced to the Street that we had Nexus as private equity backing for us. We had taken a pipe. At the time it was the $50 million, not the full $110. We said, "We're open for business. We have up to another $60 million that we can deploy in another acquisition." Basically asking all comers to bring us their books, and we saw incredible deal flow back to the original slide that I'd put up here. By virtue of working with Nexus, who already has tremendous visibility into that, all those books, and then by coming out and indicating that we were looking to make additional investments, I would say we've been able to see definitely more deals than we ever could have on our own, but much higher quality deals as well. The first one after Nexus that we went and executed ate up the other $60 million, essentially. We took the full $110 million that had been offered to us by Nexus, up to $110, and we bought a company called Terrasoul. Terrasoul is, think of it as very similar products to Navitas. Again, organic, minimally processed, close-to-the-earth products, essentially all being sold online. There is a small bricks and mortar business, which includes TJX as kind of an off or discount merchandiser, and then a few food service, a few thousand, in fact, food service ship points in juice bars, et cetera. Largely a business that's known only online and not to consumers yet in the wholesale space. Tremendous opportunity to expand that business as we go forward to make it a series of products that are available in wholesale as well. They do really well online. We have an incredible business leader there. He was the founder. He's now, stayed on with us for the next couple of years as a general manager, at least the next couple of years as a general manager of the business. We're using that capability that he has in the online business then to take the other two businesses here in front of you and to put those into a bigger online placement as well. Very synergistic top-line move, in this case, because these products were sold in completely different channels with literally almost no overlap. We're leveraging capabilities across the organization now, to be able to expedite sales growth, and you see that in the bottom right. We're also looking to make additional acquisitions. This is a roll-up strategy. I mentioned Nexus is here. They put $110 million in. They didn't do this deal to put $110 million in. They expect to be able to put more capital into this deal. We'll do it at market rates. The first set was very attractive to us. I think as I mentioned, we took in $110. It was done, you can go read the details, but it was done at a 5% PIK on a five-year preferred convertible. We got way under market financing for that, and a really nice conversion price that at the time was, I think, around 40% or 50% premium to where the stock was. We feel great about what we've done here to create a new business. They feel great about being in here and want to deploy additional capital and to run this roll-up strategy with us. I'll go through this quickly. I'm going to speed up a little bit because I do want to leave you a few minutes, so that we can ask questions. This is essentially our plan on a page, our strategy on a page. There are really five elements to it. Number one being to grow the core business. We have a lot of opportunity to expand our distribution points. We are largely a natural channel business. We have had recent wins in a number of MULO retailers that we'll be able to detail in the future. That has been the strategy, is to start to transition from only natural to a much broader distribution base, and that's well underway. To that end, we've just brought on two new commercial leaders, both of them a sales leader and a marketing leader, both of them coming from Poppi, which you might recognize, was the very large exit, in the functional beverage space to Pepsi just about a year ago. The second big strategy for us is innovation, innovating in superfoods. We have a very exciting innovation slide that we'll share that shows where we're going, specifically for Laird. We just bought this Navitas business. There wasn't a lot of innovation in the pipe. We're rebuilding that now. We see a lot of opportunity in that space to expand their product set as well. For Laird, we have a really exciting playbook that we're going to be executing in the innovation space as we go forward. We will expand to new categories, as is indicated there, but we have a lot of room to expand just in the categories that we're in. We already have a very robust pipeline of products, and we do cross into multiple categories for all of these brands. We'll start by innovating in those categories, but we see opportunity on a very wide basis. Third is to optimize our supply chain. I mentioned moving to the asset-light model. When we bought Terrasoul, we went the opposite way. We've got a great supply chain built for these two businesses that are in front of you with Navitas and Laird that is all rented. We use co-packers and 3PLs. With Terrasoul, we have our own manufacturing facility, which is giving us a really dynamic capability to have some outsourced and some insourced products, which lets you meet consumer demand, and ramp-ups in a very unique and differentiated way, while at the same time leveraging multiple co-pack, and 3PL distribution points. We'll be optimizing that as we go forward. A lot of dollars in play by combining these supply chains. Four and five, a little less interesting, but in terms of what I can talk about here. We've got a great team that is really important to us. Hiring, training, retraining critical employees, vital to our business. I mentioned a couple of the new entrants we have. We've brought in the last just over a year, we've brought in a new head of R&D. We've brought in the two commercial leaders. We filled in the teams with additional folks that really are at the top of their respective functions. We are in position to grow. We're in position to integrate. We're in position to really leverage these new brands across the board. There's the exec team. I won't belabor it. The two new folks, the CMO, CSO, both from Poppi, as I mentioned, and then our GM, Dennis Botts from Terrasoul, on with us for the next couple of years at least. I hope we'll keep him a lot longer. Just a tremendous asset across the board, but super knowledgeable in the Amazon and Marketplace space. Anya's been with me for probably almost two decades in total, through WhiteWave, and then into Laird. Jared Larkin, our VP of Supply Chain, has just proven to be a tremendous Swiss Army knife within the company. He is not only the guy leading supply chain, but he's led all of our AI initiatives. He leads our integration, the Navitas integration, mostly done at this point. We'll conclude that in about a month, but record time on that one. Jared is really an important part of our team as well. Let me take you through our portfolio so you can see this, and then I'll move quickly so we can get your questions. Within the portfolio, as reported in Q1, we have about just under $12 million of what we call coffee solutions, predominantly led by the Laird business. What you don't see here, with only $4.8 million in the functional foods, what you don't see is most of the quarter of Navitas. You see none of Terrasoul. We didn't report Terrasoul because we hadn't acquired it. We hadn't even announced it at that point. What you see on Navitas is only about two weeks worth of the business. Within functional foods, there are some Laird products, as you can see. Within coffee solutions, there's a little bit of Navitas product in there, and there'll be some Terrasoul products. This will all morph as we go forward. As of Q1, that's how the business was breaking out. That combined business, again, just keep in mind, this is only two weeks worth of Navitas. You can see at that point, we were looking at 20% year-over-year growth. That included two weeks worth of Navitas sales. You can see the comparison when you look over to the right-hand side, that Laird is doing quite well relative to the peer set that we have traditionally measured ourselves against. There are additional brands that we will probably look to put in here as we go forward. Gross margin-wise, really strong position as well. At 33%, that is the lowest gross margin that we've been in a while. I just want to share with you, the reason for that is because of the coffee prices and the tariffs on products that happened last year. Since that time, the tariffs are gone. We'll be receiving refunds on quite a lot of those this year. Additionally, the coffee prices have subsided. As you look forward and we get out of the inventory that we were carrying from last year's purchases, you can expect to see a gross margin improvement. All right. Navitas. I just realized we're down to five minutes. Thought I had a lot more time. Navitas, really quickly, $45 million of revenue, 24% revenue growth. Those are last year's numbers as we made the acquisition. As we go forward, we expect this business to continue to grow double digits. We expect for all of our businesses, quite frankly, all three of the brands that we have in the portfolio to be $100 million businesses during this Nexus ownership period. As you think about the next few years, we expect them all to push up to $100 million. The portfolio, healthy baking, wellness staples, and then the functional berries, snacks, and beverages, really, I think really great places to be playing in today's U.S. consumer space. This is where people want to eat. It's where people are going, where they're moving their diets, especially, as I mentioned, with GLP-1 and the need for nutrient-dense, good-for-you calories. We see a real uptick. These products have also been really on trend. Cacao, as an example, for Navitas growing, really one of the fastest growers for us. That space has really been very trendy across all of social media as people understand the benefits, the health benefits of Cacao. Terrasoul, I didn't get to talk about this, I want to make sure I do. Terrasoul is a vertically integrated brand of organic products that, as I mentioned, are largely very minimally processed. I mean, they're all very minimally processed. It is about 73% e-com and 27% wholesale. Some of the rounding didn't work there. It's a business that has about $66 million of revenue. I can't disclose at this point the revenue growth or the margin profile because we're still working through an audit. I will say the financials were very attractive to us. This is a private company. The audit has to be complete by the end of this quarter, so we will be disclosing quite a bit more information on it as the Q2 earnings come out. You can see 73% of the sales are e-com. They're largely in those two e-com retailers at the top, Amazon and walmart.com. The bricks and mortar is that combination of TJX stores that are listed there, as well as all the food service, smoothie type of companies that I mentioned. Here you can see their portfolio. It is a great portfolio of the products, again, that people need to be eating and more and more people are realizing they also want to be eating. All right. Really quickly because I am truly out of time here. We've got in total, what we've reported is $161 million in pro forma 2025 net sales. We expect that to be growing double digits again this year. You can see here that Terrasoul is the largest of the three businesses at $66 million, Laird and Navitas each right around that $50 million mark. When we put the businesses together, it is a business that is 61% wholesale, 39% e-com. We are still a wholesale-led business, but much more balanced with the addition of Terrasoul. You can see. I'm sorry, with the addition of Navitas rather. You can see Terrasoul at 73% e-com, as mentioned. Brings us to a very balanced business, just around 50/50 on a pro forma base across the two. The innovation profile that I mentioned previously, a very exciting profile for Laird Superfood. You see a little bit of Navitas over there with the gummies. We will be bringing Navitas in a much stronger way, especially into the baking space. That is where a lot of their heritage is, out of the commodity space into more of the CPG product space. Laird, I don't think I've seen a more exciting or robust set of products in our portfolio than what we have at the moment. I'll skip this. You guys have heard all of this already. These brands fit together really well. We're looking at what we've reported thus far to be $4.5 million or so of cost synergies on an annualized basis. I would say there may be even more that we're going to turn up as we dig deeper into this business. I think a very attractive set of synergies as we start. A number of revenue synergies that we've already hit. I will say for all stakeholders, significant benefits across customers, team, but especially here in this room to investors. We have an attractive growth profile. We're going to be growing double digits as we go forward. Complementary, highly complementary portfolio and channel mix. I mentioned 50/50 on the channels and complementary portfolio without being overlapping to customers, which means there's a lot of white space. We have enhanced scale. I do think that that supply chain with a combination of Terrasoul manufacturing plus the co-pack and 3PL network is super compelling. A lot of synergy and then that strategic platform for our growth profile. I'll leave you with this. We've hit all of this already. The numbers are very compelling. I think versus what you saw from me last year, this is a completely different business, basically a rebirth of a new business. We couldn't be more excited about this opportunity in front of us. We are, as far as we know, the only company running a roll-up strategy in the superfood space. We are the most attractive buyer to these assets, and we expect to be able to put more businesses into our portfolio and to generate significant savings, not only on a cost basis, but in the revenue profile as we go forward, due to the ability to take all of these products through the channels and through the brokerage and sales networks that we have that are complementary across the portfolio. With that, I'll leave you with this slide, and thank you very much for your time