Thank you for standing by. This is the conference operator. Welcome to Tattooed Chef's first quarter 2021 earnings conference call. As a reminder, all participants are in listen- only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star, then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Rachel Perkins, Investor Relations. Please go ahead. Thank you. Good afternoon and welcome to Tattooed Chef's first quarter 2021 earnings conference call. On the call today are Sam Galletti, President and Chief Executive Officer, Sarah Galletti, Chief Creative Officer and Lead Tattooed Chef, and Stephanie Dieckmann, Chief Operating Officer and Chief Financial Officer. Matt Williams, Tattooed Chef's Chief Growth Officer, will also be available for questions. By now, everyone should have access to the earnings release, which went out at approximately 4:05 P.M. Eastern Time today. If you've not had a chance to review the release, it's available on the Investors portion of our website at www.tattooedchef.com. Before we begin, I'd like to remind everyone that the prepared remarks contain forward-looking statements. Such statements involve a number of known and unknown uncertainties, many of which are outside the company's control and can cause future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such forward-looking statements. Important factors and risks that could cause or contribute to such differences are detailed in the company's filings with the Securities and Exchange Commission. Except as required by law, the company undertakes no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events, or otherwise. Within our earnings release and in today's prepared remarks, adjusted EBITDA and adjusted EBITDA margin are referenced. It is important to note that these are non-GAAP financial measures that we believe are useful metrics that better reflect the performance of our business on an ongoing basis. A reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures are included in today's press release, which has also been posted on our website. With that, it is my pleasure to turn the call over to Tattooed Chef's President and CEO, Sam Galletti. Thank you, Rachel, and good afternoon. We appreciate everyone taking the time to join us on today's call. It's an exciting time at Tattooed Chef. I'll begin today's discussion with key business highlights, new distribution wins, and our recent acquisition of Foods of New Mexico. Sarah will discuss our marketing and innovation, and Stephanie will provide further detail on the financials. We are off to a great start to 2021. First quarter revenue increased 59% to $53 million compared to the first quarter last year, driven by our Tattooed Chef branded products. Our branded product sales for the first quarter of 2021 were a record $36 million or 69% of total revenue. That's an increase of 105% compared to $18 million in the first quarter last year. We had originally anticipated it would take two to three years to reach 75%-80% branded sales. We are proud that we are nearing that goal within six months of being public. When we launched the brand in 2017, we recognized an opportunity to revolutionize the way consumers think about plant-based food. The Tattooed Chef brand is for everyone. We attract consumers of all ages and demographics. It really resonates with both consumers and retailers. That has been apparent through our sales velocities and product launches to date. The club channel requires much higher volume to stay on shelf compared to conventional retail. We continue to exceed retailer expectations. This gives us confidence as we enter new channels like grocery and meet the sales thresholds. Our portfolio of products, from single-serve bowls to vegetable blends to plant-based pizzas, offers retailers a variety of breakfast, lunch, dinner, or snacking products. With our acquisition of New Mexico Food Distributors, Inc. and Karsten Tortilla Factory, LLC, collectively referred to as Foods of New Mexico, we plan to expand further into the $20 billion Hispanic Southwest food sector and beyond. We acquired Foods of New Mexico for $35 million in cash and are incredibly excited about the growth opportunity. We will be immediately addressing the $1 billion frozen Mexican food category, and we'll also be launching our first ever refrigerated and ambient products. We believe the Mexican food space is lacking alternative plant-based options, and this is exactly the type of acquisition we were looking for. The two facilities total 118,000 sq ft, allowing us not only expand production capacity, but also diversify our manufacturing capabilities and grow our product portfolio at an accelerated rate. Since it was never completed, the Karsten facility is brand new with extensive tortilla manufacturing capabilities, we now have the ability to customize and tailor the existing footprint to our needs. Given our business is vertically integrated already, we are very comfortable manufacturing and plan to introduce more innovative products like alternative tortillas and plant-based items. In two to three years, we believe Foods of New Mexico can contribute up to $200 million in revenue annually. The focus going forward will continue to be on Tattooed Chef branded plant-based products. We continue to successfully execute on our growth strategy to grow the Tattooed Chef brand in the categories in which we compete. At the end of 2020, branded products were nearly in 4,300 stores and had 23,000 points of distribution. At the end of Q1, we were in 6,065 stores with 31,000 points of distribution. By the end of Q2, we expect to be in an additional 1,162 stores with 8,000 new points of distribution, including a number of larger grocery chains, which we'll expand upon in a moment. Our new total store count by the end of the second quarter is 7,477 stores and 40,275 points of distribution. Based on where we are today and additional retailer commitments that we will realize in the back half of 2021, we are confident we can achieve our 2021 objective of 10,000 stores and 65,000 points of distribution for Tattooed Chef by year-end. In the club channel, we saw exceptional growth. Our Costco MVM in March with Açaí Bowls was very successful. The Açaí Bowl was featured on the endcap and placed in their ad that is mailed to each member for a four-week promotion. This gives the Tattooed Chef brand exposure to over 105 million Costco members across the country. In Sam's Club, we had four limited time offers in Q1 in addition to our four everyday items. In Q2, we have limited time offers, including Tempura Green Beans with Vegan Wasabi Ranch and our Riced Cauliflower Burrito Blend. According to SPINS, for the latest 12 weeks ending March 21, 2021, Tattooed Chef continues to experience double-digit growth of 10.8% in Sam's Club, significantly outpacing the frozen categories we compete in. For the 52 weeks ending March 21, 2021, Tattooed Chef was up 128% and is one of the fastest-growing brands in the frozen category. In the mass channel, latest 12 weeks through March 21, 2021, we saw a 477% growth, primarily driven by our launch of six new bowls at Target in mid-March. Our average ACV in the channel is 57.1 and has grown five times since the same time last year. We continue to see TDPs increase in the mass channel, which are up over 800% versus the same time last year. Our launch in Target exceeded both ours and Target's expectations. We saw extraordinary demand for the Tattooed Chef entree bowl line and beat our launch plan velocity expectations. Since launch, the Tattooed Chef entree bowl line is averaging over $32 per SKU, per store. Target said it was the most successful frozen food launch in the history of Target, and collectively, we have exciting plans to continue to drive trial and sales with the Target guest. Last 52 weeks, we have grown 149% in mass channel. We expect this momentum to continue as our products are introduced to consumers throughout the year. In the grocery and natural channel, we continue to gain distribution with both national and regional retailers in the U.S. In addition to our distribution wins in Q1, we announced in March, by the end of Q2, Tattooed Chef products will be on shelf at Whole Foods, Harris Teeter, Jewel, Smart & Final, and Nugget Markets in NorCal, as well as a growing list of independent retailers. In Q3, we already have commitments from multiple Albertsons divisions, including Southwest, SoCal, NorCal, and Intermountain, as well as H-E-B, Price Chopper, and Sprouts Farmers Market. Additionally, we are also seeing our early retailers expand our line into additional categories based on the success of the brand, which will increase the breadth of our distribution. We have strong momentum and expect our growth to continue given the white space opportunities with new and existing customers in grocery, club, mass, as well as our innovation pipeline and recent acquisition. In 2021, we expect revenue between $235 million-$242 million, which Stephanie will expand upon in a few minutes. In 2022, we now expect at least $300 million in revenue based on our distribution success in grocery this year and our innovation pipeline, including the launch of our first ambient products, which we expect at the end of this year or early next year. We are building Tattooed Chef to be a generational brand. It is important we invest back into the business now to lay the foundation for future success. As we previously announced, we have partnered with NitroC, a national marketing agency, and are spending $15 million this year to increase Tattooed Chef brand awareness. Sarah will provide more details momentarily, but we are pleased with our early success and launch of our first commercial last month. Regarding production capacity, we are ramping up production and increasing capacity in both our facilities in California and Italy in order to meet our guidance and sales volume. The acquisition of Foods of New Mexico now adds another two facilities, giving us a total of over 275,000 sq ft. Now I'd like to turn the call over to Sarah to discuss our innovation and our marketing efforts. Thank you, and good afternoon, everyone. Tattooed Chef is a brand committed to creating high quality, delicious plant-based meals that connect with the next generation of consumers. Innovation is woven into the culture of our company, and we are passionate about every product we make. We create food we want to eat, and as consumers' preferences change, so do ours. Plant-based food does not have to be boring, and with Tattooed Chef, it's not. Our food is exciting, no longer for the 1%, and it's chef created. At the end of Q1, we had a total of 42 Tattooed Chef branded SKUs, and by the end of Q2, we'll have 54. This includes five new 20-oz plant-based multi-serve meals, Cauliflower Spaghetti with Plant-Based Bolognese, Sweet Potato Gnocchi with Plant-Based Butter & Sage, Cauliflower Gnocchi Quattro Formaggi, Chickpea Pasta with Plant-Based Sausage Ragu, and Riced Cauliflower Burrito Blends that are now available for purchase at Target stores nationwide. These skillet meals feature a variety of our innovative plant-based alternatives with plant-based beef and sausage, plant-based butter, and alternative rice and pasta. These multi-serve meals are different yet familiar to consumers. They are truly a nostalgic innovation. We created our own pasta alternatives that we believe are better than anything else on the market today. Following our six bowls launched in Target in March, we also recently launched our new Pesto Harvest Bowl and a Plant Based Egg Roll Bowl, as well as a four-pack of Cauliflower Mac & Cheese and our Plant Based Burrito Bowls at Target. This brings our total SKUs offered at Target to 17. Our plant-based pizzas launched in mid-April exclusively at Meijer stores and are gaining distribution in other retailers, including United Supermarkets, Jewel, and H-E-B in Q2. We are continually bringing new ideas to the marketplace. With our acquisition of Foods of New Mexico, we have a pipeline of over 250 ideas for innovation, including over 50 in the Hispanic Southwest food category. As Sam mentioned, beginning in January, we kicked off our marketing efforts with the help of NitroC to increase our brand awareness as we grow our distribution. This year, we are investing $15 million across digital video, connected TV, digital display, social media, and search engine marketing. On April 5th, we debuted our first six and 15-second commercials of animated ingredients with live motion cinematography of some of our top-selling products. The commercials are now airing on a curated list of cable networks, including Bravo, Food Network, CNN, and CNBC, as well as connected TV and digital media. We allocated a larger spend to be on cable networks and now have placements on some of the biggest shows. By the end of the 16-week campaign, we expect the commercials to reach over 80 million people seeking more plant-based eating options. We are in the early innings of marketing and are excited to make Tattooed Chef a household name. I'll turn it over to Stephanie to walk through our financials. Thank you, Sarah, and good afternoon, everyone. In the first quarter of 2021, we continued on our growth trajectory. Revenue increased 58.8% to $52.7 million, compared to $33.2 million for the prior year period. As Sam mentioned, the revenue increase was driven by an $18.4 million increase in revenue of Tattooed Chef branded products. This now accounts for 69% of our total revenue. Gross profit in the first quarter was $13.7 million or 26% of revenue, compared to $9.2 million or 27.9% for the prior year period. While gross margin declined year over year in the first quarter, we anticipate quarterly growth margin expansion throughout the rest of 2021 as we increase our volume. On a sequential basis, first quarter growth margin increased 860 basis points compared to 17.4% in the fourth quarter of 2020 due to operational efficiencies. Per our full year 2021 guidance, we expect gross margin between 20%-25% for the year. Operating expenses increased to $20.7 million in the first quarter of 2021, compared to $2.4 million in the prior year period. The increase in operating expenses was primarily due to $3.2 million of stock compensation, $2.6 million in marketing, $2.6 million in public company and new employee costs, and $1.9 million in promotional expenses to invest in customers and the brand through promotional offers. During 2020 and into 2021, we have invested more in our management team, infrastructure, equipment, and maintenance to support both the production facilities here and in Italy during our rapid growth that is expected to continue moving forward. We have also made significant investments with our customers in the form of promotions and marketing that we believe will benefit Tattooed Chef in years to come. We expect operating expenses to increase in 2021 to accommodate branded growth, invest in the Tattooed Chef brand and incur a full year of public company costs. Due to the increase in operating expenses, net loss was $7.9 million in the first quarter of 2021 compared to net income of $5.9 million in the prior year period. Adjusted EBITDA loss was $3 million in the first quarter of 2021 compared to adjusted EBITDA of $7 million in the prior year period. The decline was primarily due to the operating expenses that were previously mentioned. We expect adjusted EBITDA to increase sequentially throughout the remainder of the year. As of March 31, 2021, we had cash and cash equivalents of $185 million. Turning to our outlook. We are reiterating our full year 2021 guidance provided in our recent M&A release, which includes revenue in the range of $235 million-$242 million, an increase of 58%-63% compared to 2020. This guidance implies 49% year-over-year growth on the base business to $222 million and $13 million-$20 million contribution from one of the two facilities in the Foods of New Mexico acquisition. This revenue guidance excludes any revenue contribution from the second facility that we refer to as Karsten because it is not currently in operation. We expect to update guidance again once production begins at that facility in the coming months. We expect gross margin to be in the range of 20%-25% as we increase scale and leverage operational efficiencies in our California and Italy facilities and integrate Foods of New Mexico. We expect adjusted EBITDA in the range of $2 million - $4 million as we continue to invest in and promote the Tattooed Chef brand. We invest in people, labor, equipment, and public company costs. Despite inflationary pressures, we expect sequential improvement in adjusted EBITDA as we progress throughout the year. Lastly, we expect capital expenditures in the range of $15 million - $20 million. With that, we are now available to take your questions. Operator? Thank you. We will now begin the question-and- answer session. To join the question queue, you may press star then one on your telephone keypad. You will hear a tone acknowledging your request. If you're using a speakerphone, please pick up your handset before pressing any keys. To withdraw your question, please press star then two. We will pause for a moment as callers join the queue. The first question comes from George Kelly of Roth Capital Partners. Please go ahead. Hi, everyone. Thanks for taking my questions. I have a few for you. I'll start with the New Mexico acquisitions that you just made. I was curious if you could help us understand the progression. You gave the two to three year targets of, I forget exactly, a couple hundred million. I was just curious if you could help us understand that progression, and when you're going to start introducing your own branded items to that facility. The second part of the question is just about sizing the opportunity in tortillas. How big is that market? What's the penetration with alternative kind of plant-based products, et cetera? Thank you, George. This is Sam. The first part is, the way that we're looking at this is that the immediate opportunity obviously is with plant-based burritos, enchiladas, quesadillas. The facility is live, it's running, and tortillas are being manufactured today within the facility also. The immediate opportunity and, if we're fortunate and we could get some distribution quickly, will be third or most likely fourth quarter, I could see frozen food products being the first items that we hit the market with our Tattooed Chef brand. They could end up being Sarah's looking at a full line of entrees also to be able to increase the retail area that our entree bowls are going in. There's tons of opportunity that is pretty immediate. It's a function of just really getting all the pieces of the items and packaging and production in place. I think that within four or five months, we definitely could be, hopefully getting some distribution out there. The next part of it would be the tortilla opportunity, which is actually just as quickly. It would be the same as the frozen items because there is equipment already that has very large capacity that we could be entering that opportunity of plant-based tortillas into the market pretty quickly. The third part of it is the snack concept that we're looking more towards a fourth quarter or actually even first quarter next year. That is an additional whole other potential revenue stream of sales for Tattooed Chef products. There's three different areas of potential revenue growth within this, and that's why we're so excited about this opportunity, because of the diversification, not only in extending our frozen categories, but also now getting into ambient and into snacks. As far as the second part of your question on the tortillas, immediately we want to be utilizing our grain-free concepts of plant-based tortillas right out of the gate with our frozen line. It would be very unique to the market. Besides us selling a plant-based alternative tortilla as a commodity, which per se is a commodity, although there's very limited of that product in the market today, we would take advantage of that same opportunity for those tortillas to be able to utilize it in the existing products that are created out there. How Sarah always calls it, nostalgic innovation. It just lines up perfect for what Tattooed Chef is and the opportunity. Okay, that's really helpful. Different topic for the next question. The branded sales in the quarter jumped quite a bit from where you ended last year, and I was hoping you could sort of help bridge, I think it was a $13 million improvement in this year's first quarter. If you could sort of break it down between your biggest club customers, between new grocers, between mass. Could you help us understand where that jump came from? It's still driven by our club successes. It's been very minimal still on the opportunity of conventional retail except Target. We started to pick up some of those sales in the first quarter, but it was minimal. That's why everybody always says about, the question will come up about, "Well, what's up with guidance? Why aren't you increasing guidance?" It's because by the time that you get things approved and they get on shelf and they get distributed to Target, 1,800 stores or whatever store counts that you're dealing with. Before you get a full year's worth of those sales, it takes time to really start hitting that number. This first quarter, except for maybe a little bit of a conventional, the Target business that was really so exciting, has really been still driven by our basic accounts of club and some Walmart business. Okay. Helpful. Last question from me is just about gross margin. Maybe this is for Stephanie, but it's such a volatile margin, just jumps around quarter to quarter. Is your gross margin going to be more consistent this year? Can you help at all there? Yes. Gross profit margin will start to stabilize. It is a little high for Q1. As we start to flow into Q2, Q3, Q4, it will be within guidance of 20%-25%, even with the acquisition of Foods of New Mexico. We will continue to see that across the board. There are some changes within Foods of New Mexico that we will make within their product lines, since they are really a co-packer. As we sell Tattooed Chef out of there, we expect everything to fall in line with our current guidance. Okay. Thank you. Thank you. Thank you, George. Thank you, George. The next question comes from Rob Dickerson of Jefferies. Please go ahead. Great. Thank you so much. Couple questions. I guess for the team. You kind of went through a number of the retailers. Sounds like you may be getting some distribution Q2 into Q3. You said it kind of quickly, and as I was trying to write it down, I kind of missed it. Could you maybe just kind of go through how that works? I know maybe even Q4 into Q1, right, there were some products you said you had in a lot of retailer or a lot of grocers for trial. What you're saying today, it sounds like maybe you're past some of that trial phase, and then it sounds like maybe you're getting some distribution. It sounds like part of that or some of that starts in Q2, then flows into Q3. Maybe you just spend like a couple of minutes just kind of walking through those retailers again. Obviously, just because it's such a big piece to your plan. Thanks. Hey, Rob, this is Matt. Obviously, the build is taking place as we're following the category reset cycle. What we like to share, because there's still a lot of moving parts on the retailer side as they're coming out of COVID in terms of actually when they're actually getting back into this process of doing full category reviews. What we like to show is where we're seeing traction and where we're getting commitments quarter by quarter. Clearly, the first big win that we had in Q1 was Target, right? We came out of the gate with six new SKUs of entree bowls with Target. We actually did an emergency revision, and that was because there was another supplier that they were doing business with that had some hanging on of COVID related issues in terms of production. We actually accelerated our launch with them, that was initially going to take place in May, into March. That pulled forward that launch. That was really the first big hit that we had. We took on one of the other regional grocers, Stop & Shop in the Northeast, with a couple SKUs. We're really doing two things. We're obviously gaining new customers, and so we have a list of those that we've shared, and I'll walk you through more of those. It's not only once we gain a customer. Once we're gaining the customers, we're able to go back and resell or sell into other categories that maybe that were not being reviewed when we started. As an example with Target, they saw the success of the brand, with the entree bowls. That now is leading into them launching this line of family meal products as well. Not only is this an ACV kind of gain for us, but it also becomes a strategy around building distribution points through added SKUs. What you're seeing in our build is not just new retailers coming on, it's existing retailers adding more SKUs because of the success of the brand and how the brand is performing. That's what you're starting to see as we shared with what we have in Q2. We're seeing retailers coming on like Jewel. We mentioned, obviously, Meijer. We've got Smart & Final coming on. Whole Foods, we communicated, is obviously hitting. We're seeing that flow through. As the reset cycles take place, what we're sharing with you is significant new gains that we're getting in specific categories. We know that's going to lead to future gains as well in other categories additionally too. That's how it plays out. I'd just like to add, Rob, that there has been no product that was launched in the first quarter that has been discontinued. The product isn't even getting started yet on these shelves. What little information that we have already, as Matt mentioned, there's a real buzz and excitement that's happening with the brand. Obviously, we have real numbers and data with Target that really just blew everybody out of the water. We're very excited about the success of what's happening with our product in conventional retail, as quick as it is. Okay. Cool. Good enough. To your comment earlier, Sam Galletti, when people ask, "What's in the guide? What's not in the guide?" What's being communicated is that there's a reiteration of the guide this year on the base, the 222. We should be thinking that there would be potential upside to that guide depending on maybe when some of these new business wins occur. I'm just trying to kind of pick through the timing of how long that works. I understand, Rob. I Rob. I do. That's all. I do understand, again, it was really a function of that when we came out with our guidance. It was really based on our assumption that because of the momentum and success that we had and these preliminary confirmations that we were verbally getting. Still, by the time these items get distributed nationally and they get the momentum behind them, it really will take some time. Maybe later on this year, we'll have a better snapshot of just how the distribution is going, to where we could revisit it. Again, we'd like to stick with the guidance that we have. Okay. No, I think that clarifies it, because people will ask, right? I'm sure. Right. That would be the main question. They're getting new business. Why is the revenue staying the same? It's essentially like, you have your own internal projections. You're comfortable with those relative to the guide. Hey, yeah, other stuff and sets hit in Q4 than it hits in Q4, but it got bumped to Q1 and Okay, I get it. Yeah. The other question is just on the EBITDA line, it's more mechanical, is there's a loss in Q1, really driven by those SG&A expenses. Sounds like gross margin might not be as high, but still high. Not as high as Q1, but still high on a year-over-year basis as you go through the year. EBITDA has to improve sequentially off of Q1. I guess the core question is, though, do those SG&A expenses essentially stay the same? Maybe part of just that sequential improvement in EBITDA is really being driven by revenue. If that makes sense. Yes. Let me answer that, Rob. Sure. When we look at the EBITDA and the adjusted EBITDA, more importantly, and the operating expenses, I think it's important for us to note that there were some items in that adjusted EBITDA that are not recurring and won't happen every quarter. We did accelerate some things over the timeline into first quarter to take advantage of some promotional opportunities that we felt were important to help build the Tattooed Chef brand with new and existing customers. Those won't exist every quarter. They were planned throughout the year. Some of those expenses just hit in first quarter, so you will not see operational costs grow with revenue. Operational costs kind of are where they're at right now. You'll see some consistency within those. As we digest Foods of New Mexico, we know where adjusted EBITDA is going to land for the end of the year. Remember that we still need to get in there. We still need to look at cost segregation studies and things like that. There's some depreciation, amortization, and those types of things, but those won't affect adjusted EBITDA. Okay, cool. Makes sense. I guess lastly, I had somebody ask me, I thought it was a good question. That's my last question. Sam, I think you said on the call, quickly you said, it kind of gives us even more conviction and comfort in reaching at least $300 million in revenue in 2022. I'm pretty sure you threw out a $300 million revenue number previously, but then you've made an acquisition which obviously helps that revenue number. I feel like I kind of have to ask because I've had two people actually ask me about that, but I feel like it kind of circles back to your prior comment around 2021, right? You had your own internal projections for 2021 too. Obviously, also had your own internal projections for 2022. As kind of maybe some of the business flows through, were you speaking with the grocers, you essentially just got to feel better about those internal projections? Does that kind of sound fair? Absolutely. You nailed it. To tie what you were saying in, it was always a function of our facilities because we're producing our products that we sell. We look at our production facilities, and we say, "Hey, where are we?" Based on our assumptions, we came out with the 222. We know that for us to continue to grow, unless we became a marketing company, we would need to do M&A. The beautiful thing about the Foods of New Mexico facility is that we didn't have to pay some crazy multiple because it was a branded product, because we have our brand. We get this incredible facility that is an existing facility that's operating with over 300 people, that has all the food licenses and just raring to go. Now we could bring our brand, and we can now, exactly what I was trying to accomplish, is to be able to increase our revenue and the guidance that I suggested based on M&A that is our model as a manufacturer, to be able to control our destiny. It is exactly what you just said and what I was hoping to hit and get. Rob, if I could add. Sure If I could add, one of the things that I would also share is that this space, $1 billion in revenue for frozen food, Mexican food products, we know exactly where we can fit. The thing that I think is great is that consumers are already gravitating towards this kind of nostalgic innovation comfort food that comes from the Mexican food category to the Tattooed Chef brand. The Tattooed Chef brand, some of our best-selling SKUs as we've launched in the market today, are some of the SKUs that are Mexican-style products. The product that's flying off of the shelves at Target is our new burrito bowl that Sarah has created, which is phenomenal. People are now looking to us to bring great-tasting, creative, plant-based Mexican foods to the marketplace, and they'll be looking for us to kind of lead that charge. We've been testing it, and I think that we're comfortable with what's going on with that SKU, what's going on with Sam's, with the burrito blend, even our original enchilada bowl. This is a place that people expect us to bring great-tasting products. I think that is really exciting. All right. Then if I can just sneak one quick one in for Stephanie Dieckmann, just on cost inflation. I feel like I'm supposed to ask this because we ask this of every food company right now. You're in growth phase, right? There's obviously a lot of inflation, a lot of different commodities, freight, you name it. Is there anything that's sticking out to you that could actually be just inflationary on the cost side, on the COGS side? I guess, one. Then two is just as you do grow, it doesn't sound like there's any type of sourcing issue of certain products or ingredients. That's it. Thank you so much. Of course, we're seeing inflation. Everybody's seeing inflation. It would be ridiculous for us to say that we're not. On the Cost of Goods Sold side, yes. The announcement for corn, we sell Mexican Street Corn. I understand why people might think that it could be a concern. We are contracted in with a year-long pricing. It has been confirmed. As long as the price of corn regulates at some point in time in the next 12 months, which I'm convinced that it will, then we would turn around and we would see things come back in line before we were due to contract the next time. That's some of the ways that we try to combat inflation in general when it comes to Cost of Goods Sold. On top of that, being vertically integrated helps us because we manage that cost within our manufacturing facility, not just for the raw materials. If we see an increase in raw materials and we're making strides when it comes to direct labor by the purchase of equipment and utilizing a lower cost for direct labor per sell unit, then we can absorb some of those costs. We have a little more control than if we were utilizing a co-manufacturer or co-packer, because we would get their inflation cost within their raw materials, their labor challenges, and that would just flow up to ours. We are confident that if we continue to see inflation for cost of goods sold, that if we were to approach our customers later, closer to that 12-month mark, and inflation were still high, that we would be better received at that moment in time if there was a necessary price adjustment than we would be if we turned around tomorrow. We are bracing for the impact of that. We are monitoring it closely, and we're paying attention to our raw materials. We have not had any challenges in getting raw materials at this point in time. We make sure that we diversify our suppliers and that we're tracking that and that we're ahead of the game on that. It's very important to us as manufacturers to be able to control that ourselves. It's part of why we're so excited about New Mexico. Got it. Awesome. Thank you so much. Thank you. Thank you. This concludes the question -and- answer session. I would like to turn the conference back over to the management for closing remarks. Thank you for joining us today. We're off to a strong start to 2021 and have an incredible opportunity to grow the Tattooed Chef brand. We have increased capacity and sales, expanded gross margins, and closed on a strategic acquisition. We have done everything we said we would, and we believe we're just getting started. I look forward to speaking to you again at several upcoming investor conferences and our second quarter earnings call in August. Have a great day.