Good day, ladies and gentlemen, and welcome to the Fourth Quarter 2021 Earnings Conference Call for Venus Concept. At this time, all participants have been placed in listen-only mode. Please note that this conference call is being recorded and that the recording will be available on the company's website for replay. Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including those identified in the Risk Factors section of our most recent 10-Q and our Annual Report on Form 10-K to be filed with the Securities and Exchange Commission. Such factors may be updated from time to time in our filings with the SEC, which are available on our website. We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events, or otherwise. This call will also include references to certain financial measures that are not calculated in accordance with generally accepted accounting principles or GAAP. We generally refer to these non-GAAP financial measures. Reconciliations of those non-GAAP financial measures to the most comparable measures calculated and presented in accordance with GAAP are available on our earnings press release issued today on the investor relations portion of our website. I would now like to turn the call over to Mr. Dom Serafino, Chief Executive Officer of Venus Concept. Please go ahead, sir. Thank you, operator, and welcome everyone to Venus Concept's Fourth Quarter of 2021 Earnings Conference Call. I'm pleased to be joined today by our Chief Financial Officer, Domenic Della Penna, and our President of Global Sales, Ross Portaro. Let me start with a brief agenda of what we'll be covering today during our prepared remarks. I will start with an overview of our revenue results in the fourth quarter. I will then provide a summary of our operating progress in key areas in recent months. Domenic will provide you with a more in-depth review of our quarterly financial results, our balance sheet, and our guidance for the full year 2022, which we introduced in today's press release. Then, Ross will provide an update of our commercial priorities and global sales and distribution team update. And then, we will open the call for questions. With that overview in mind, let's get started with a review of our fourth quarter revenue performance and our overall business trends. We reported GAAP revenue of $32.6 million, up 26% year-over-year. The increase of total revenue year-over-year was driven by 42% growth in sales in the U.S. customers and 14% growth in sales to international customers for the period. We are very encouraged by our overall demand trends we experienced during the fourth quarter. Total systems and subscription revenue increased 32% year-over-year in Q4, and our procedure-related disposable revenue increased 14% year-over-year, excluding the impact of the suspension of our NeoGraft's service during that period. Importantly, our systems and subscription revenue growth was driven by key products we prioritized as part of our commercial strategy we discussed in recent investor calls. We experienced strong adoption of the Venus Bliss in our body franchise and a record quarter for the adoption in our hair restoration franchise. Fourth quarter systems and subscription growth also benefited from strong sales of other aesthetic products, including our Venus Legacy, Versa, Velocity, and Epileve products. Our team did a great job working through approximately $1.3 million of backlog during the fourth quarter, and we have fulfilled nearly all of the remaining backlog to date in Q1. With respect to procedure trends in the fourth quarter, our real-time IoT data gives us strong visibility into the active device trends for a large portion of our medical aesthetic install base. This average usage per system data reflects consumer activity consistent with what most companies have reported to date, specifically in the U.S. The nice recovery in usage trends in September that we discussed in our last call continued in October, November, before moderating slightly in December as the Omicron variant impacted practices across the U.S. Outside of the U.S., we continue to see varying usage trends depending on the region of the world and the respective pace of recovery from the pandemic. Procedure trends for our hair restoration customers in the fourth quarter reflected a quarter-over-quarter improvement as expected. As discussed in our Q3 call, we saw a larger impact from seasonality in Q3 than we'd expected, and expected procedure trends to improve in Q4, which ultimately came to fruition. Procedures of our ARTAS systems in North America increased mid-single digits year-over-year and increased mid-teens sequentially. Outside North America, procedures on our ARTAS systems were down year-over-year for the quarter, but increased high teens sequentially, driven primarily by improving procedure trends in EMEA. Now turning to a brief update on operating highlights in the fourth quarter and recent months. Overall, we've made considerable progress in the areas of new product development, clearances, and commercialization. We received our 510(k) clearance for the Venus Freedom in October, which expands our portfolio of technologies that can treat a broad range of common women's health conditions. Our limited launch of the Venus Fiore in Canada and the European Union began in Q4, and we are preparing for a limited launch of Venus Freedom in the U.S. during the first half of 2022. Note that we continue to believe that the Fiore and Freedom will be a solid contributors to our multi-year growth profile beginning in 2023. We have continued to execute a measured and thoughtful strategy for this differentiated technology. Venus Concept devoted nearly six years to develop this technology in order to create a comprehensive, safe, and effective system that addresses important medical needs and is supported with significant clinical data. We are now focused on investing the requisite time to develop relationships with KOLs and educating potential customers in the OBGYN community on our unique utilization focused business model, which we believe will make the return on investment of this system very attractive for both OBGYN practices and Venus Concept. Our efforts to expand the Venus Bliss portfolio of systems and products continues to make progress as well. We received our 510(k) clearance for the Venus Bliss MAX in January and are preparing for our commercial launch in Q2. Venus Bliss MAX is a new device that not only includes fat reduction and body contouring capabilities, but also muscle stimulation technology. This device addresses three of the most in-demand body contouring procedures all in one workstation. We expect this new device will have a list price of approximately $229,900, contributing gross profit margins above company averages. We intend on adding a modest but important utilization fee of approximately $100 per treatment to this device. Importantly, we estimate that the time of return on investment of just 33 weeks, which we expect will be extremely compelling to our clinician customers. Finally, we are proud of material progress we've made in recent months to advance our development, regulatory, and clinical strategy for AI.ME, our nonsurgical robotic technology platform for medical aesthetics applications. As indicated in our earnings press release, we are targeting an FDA submission for a general indication for tissue excision and skin resurfacing by March 31, 2022. This is significantly ahead of our timelines we discussed with the Street, and is a direct result of our team's strong execution and collaborative engagement with the FDA. We intend to issue a press release to formally notify the investment community of this important submission for regulatory clearances, where we are not in control of the review and approval process to secure an FDA clearance. Our internal timing expectations are based on historical review timelines in med tech, which we believe gives us the potential for a limited release of AI.ME in the fourth quarter of 2022. The prospects for nonsurgical robotic technology platform AI.ME are very compelling, and we look forward to introducing this disruptive technology beginning later this year. It is important to remember that the AI.ME platform is just that, a platform, and it has been designed to support numerous different clinical applications via a unique upgrade path for the clinician, making it extremely cost-effective and differentiated from any products currently available to the aesthetic device market today. In parallel to this process, we are preparing to submit an additional clearance for general indication of tissue excision resurfacing. We have also made progress towards our strategy to secure specific clinical indications for AI.ME treatments of the face. As discussed on prior calls, we are pursuing an IDE clinical study evaluating the safety and efficacy of using AI.ME for the treatment of moderate to severe facial wrinkles. This study will support our FDA 510(k) submission for a specific clinical indication for the treatment of wrinkles on the cheek, which will further expand our annual addressable market opportunity and enhance our long-term growth profile. We have finalized the protocol, trained four clinical investigator sites, and are happy to announce that we've begun enrollment. We expect to have the first patient treatments in the coming weeks, and we intend to identify, sorry, to notify the investment community via press release when we achieve this important clinical milestone. With that, let me turn the call over to Domenic Della Penna, who will provide you a detailed review of our fourth quarter financial results and discuss our balance sheet financial condition and our 2022 guidance. Domenic. Thank you, Dom. Given Dom's detailed review of our revenue results, I will begin with a review of our financial performance across the rest of the P&L. For the avoidance of doubt, unless otherwise noted, my prepared remarks will focus on the company's reported results for the fourth quarter of 2021 on a GAAP basis, and all growth related items are on a year-over-year basis. Gross profit increased $6.1 million or 37% to $22.8 million. Gross margin was 70% compared to 64.7% of revenue in the fourth quarter of 2020. The increase in gross margin was primarily driven by higher sales of Venus consumables and improved revenue mix of system sales sold under our subscription program, primarily tracing to Venus Bliss. Total operating expenses were $26.9 million, essentially flat versus the prior year period. The change in total operating expenses was driven by an increase of $3.3 million or 45% in sales and marketing expenses, and an increase of $0.5 million or 32% in R&D expenses, partially offset by a decrease of $3.9 million or 22% in general and administrative expenses. Total operating loss decreased $6.1 million or 60% to $4.1 million. Net loss attributable to stockholders decreased $10.4 million or 70% to $4.3 million. Non-GAAP adjusted EBITDA loss increased by $0.2 million or 9% to $2.5 million. We have provided a full reconciliation of our GAAP net income to adjusted EBITDA in our press release. Turning to the balance sheet. As of December 31, 2021, the company had $30.9 million of cash and cash equivalents, and total debt obligations of approximately $77.8 million, compared to $34.3 million and $79.6 million respectively as of December 31, 2020. Our net change in cash for the fourth quarter of 2021 was $15 million, driven by $15.7 million of cash from financing activities during the period, offset partially by cash used in operating and investing activities in Q4. On December 15, 2021, we entered into a securities purchase agreement, pursuant to which we issued and sold certain investors an aggregate of 9.8 million shares of our common stock and 3.8 million shares of our convertible preferred stock. The net proceeds from the security sold in this non-brokered private placement transaction was $16.7 million. Our cash used in operations for the fourth quarter of 2021 was $400,000, reflecting a continuation of the significantly improved cash performance we have discussed throughout 2021. Specifically, for the 12 months ended December 31, 2021, our cash used in operations was $19.8 million, down 31% year- over- year, driven by a reduction in our net loss and a 33% decline in cash used in working capital compared to the prior year period. Turning to a review of our guidance. As detailed in our press release, we introduced our revenue guidance for the full year 2022 period. The company expects total revenue for the twelve months ending December 31, 2022 in the range of $126 million to $130 million, representing an increase of approximately 20% to 23% year-over-year compared to total revenue of $105.6 million for the twelve months ended December 31, 2021. While we are not providing formal profitability guidance for the full year 2022, our outlook assumes we deliver another year of material profitability improvement, including a target of achieving cash flow positivity in the fourth quarter of 2022. For modeling purposes, we would like to offer the following considerations to help investors understand the underlying assumptions driving our 2022 profitability targets. First, we expect our gross margins to be in the range of 68% to 71% as we see continued improvement in gross margins driven by mix, but also expect inflationary headwinds to pressure our cost of goods in 2022. Second, we expect continued expense management to drive notable operating leverage in 2022. Specifically, we expect GAAP operating expenses in the range of $98 million to $101 million, representing growth of 10% to 13% year-over-year compared to our total revenue growth range of 20% to 23% this year. Third, we expect our interest expense to be approximately $4 million, and we expect non-cash D&A of $4.5 million and non-cash stock compensation of approximately $2.4 million. Fourth, we continue to expect our weighted average shares outstanding to be approximately 64 million. Finally, while it is not our practice to provide quarterly guidance, given that we are reporting in the last week of the first fiscal quarter of 2022, we thought it would be helpful to share our range of expectations for total revenue. As such, our full year 2022 revenue guidance includes the assumption that first quarter total revenue will be in the range of $26.5 million to $27.5 million, up 17% to 22% year-over-year. Now I'll turn the call back to Dom. Thanks, Domenic. Before we open up the call for questions, I'd like to have Ross share an update on our commercial priorities and our global sales and distribution team. Ross? Yeah, thanks, Dom. Before I address our Q4 execution of commercial strategy priorities, I'd like to touch on our current aesthetic product portfolio that is attracting proven aesthetic leaders to Venus Concept. With our current product portfolio and competitive advantages, our long-term growth will be supported by our two growth franchises, our hair restoration franchise, which consists of ARTAS and NeoGraft, and our body franchise, which consists of Bliss and Bliss MAX. The number one growth market in aesthetics is men, and the number one issue they face is hair loss. The ARTAS robot has been providing superior clinical efficacy as well as a more aesthetic pleasing and natural hair restoration versus the past methods. With our recent Bliss MAX clearance, Venus Concept is the only company with three targeted modality solutions for fat, muscle, and skin tightening in one system. Combine these two key growth franchises with Legacy, Versa, Velocity, Epileve, and you have an unmatched aesthetic portfolio that will support our growth projections in 2022 and beyond. We are also most pleased with our Q4 execution of commercial strategy priorities. The most important starts at the top. We promoted or recruited four Vice Presidents for North America, a Vice President of sales, U.S. East, a Vice President of sales U.S. West, a VP of sales Canada and North American National Accounts, and a global VP of VERO Hair. We added aesthetic industry expertise while also promoting top Venus Concept aesthetic leaders. We also did the same at the regional level. To maximize our hair restoration advantage with ARTAS and NeoGraft, we added four robotic specialists in the U.S. and one in EMEA, reporting directly to our global VP of VERO Hair. This commercial strategy execution resulted in record sales in our hair restoration franchise in Q4. We expect to do the same strategy with Venus Freedom later in 2022. Another commercial strategy priority was adding more aesthetic experience at the area sales manager and territory manager level, as well as standardizing sales training. We continue to attract proven aesthetic sales leaders while also providing comprehensive sales training. The goal in Q4 was to establish the targeted North America headcount for 2022 of 79, consisting of four VP's, five regional directors, four robotic sales specialists, 40 area sales managers, 22 territory managers, four inside sales managers. We have filled 90% of these positions, with the remaining 10% at the field level. Outside the U.S., we have direct commercial sales teams in the highest growth areas in EMEA, APAC, and LATAM, or over 12 countries. Our OUS sales headcount is 48. We also have distributors in over 40 countries. With that, I'll turn the call back to Dom for closing remarks. Dom? Thanks, Ross. In closing, I wanted to share some of the key assumptions supporting our growth expectations for 2022. Our 2022 total revenue outlook assumes more than 75% of our total revenue year-over-year comes from two key growth franchises. Specifically, the first, our body franchise, which includes systems and procedure-related revenue for our Venus Bliss and Venus Bliss MAX products. Second, our hair restoration franchise, which includes our systems and procedure-related revenue from our ARTAS and NeoGraft products. Together, these two key growth franchises represented approximately 38% of our full year 2021 revenue, and we expect these growth franchises to increase more than 40% year-over-year in 2022. Importantly, we expect the contributions of total revenue growth from these two growth franchises to fuel continued growth in sales and procedure-related recurring revenue and to be accretive to our total company gross margins. Our 2022 total revenue outlook also assumes growth contributions from a portion of our business dedicated to medical aesthetics outside of the body franchise, as discussed earlier. This portion of our business includes contributions from six commercialized aesthetic products, including two of our largest product lines, the Venus Legacy and Venus Versa. Sales of these aesthetic products represented approximately 68% of our full 2021 total revenue and have demonstrated highly durable, stable growth over time. We expect the sales of these products to increase in the mid to high-single digits year-over-year in 2022, reflecting a continuation of the durable, stable growth profile this trend has demonstrated in recent years. There are two additional items that to bear in mind when evaluating full-year 2022 growth expectations. First, as mentioned earlier, our body franchise will be a material driver to the total company growth this year, fueled by the commercialization of our Venus Bliss outside of the U.S. and commercialization of our Venus Bliss MAX in the U.S. We do expect growth in our body franchise to be stronger over the second half of the year, given the timing and expected ramp up of the introduction of the Bliss MAX continuing into Q2. Second, our 2022 revenue guidance does not assume material contributions related to the limited release of the AI.ME in Q4 of 2022. We intend to update the investment community on the potential contributions from this initial commercial release of AI.ME following the receipt of 510(k) clearance. While AI.ME is not expected to materially impact 2022 growth, it is fair to assume that we will be highly focused on ensuring that we are well prepared to execute our commercial strategy for this highly differentiated robotic technology as soon as possible following receipt of regulatory clearance and would expect AI.ME to be a material contributor to the total company growth beginning in fiscal year 2023 and beyond. With that, operator, we'll now open the call to your questions. Operator? Thank you. If you'd like to ask a question, please signal by pressing star one on your telephone keypad. If you're using a speakerphone, please make sure your mute function is turned off to allow your signal to reach our equipment. We do ask that you limit yourself to one question and one follow-up. If you'd like to ask additional questions, we invite you to add yourself to the queue again by pressing star one. Our first question will come from Marie Thibault with BTIG. Good morning, Venus Concept team. Thank you for taking the questions and congrats on the recent progress. I wanted to ask a question here first about Bliss MAX. We'd love to hear how that product is being received now that it's in the market. Can you tell us a little bit more about how the clinicians are viewing that product? Sure. Ross, you wanna take that question from Marie? Sure. Marie, obviously we're very excited with Bliss MAX and the only system that has the three platforms for skin tightening, fat, and muscle. With a limited release in Q1 with a full launch coming in Q2, sales have been fantastic. We've actually quadrupled our availability of Bliss MAX for the quarter end close. We just recently attended the AAD and actually did some booth presentations and muscle stimulation demos. I can also tell you that we've had key KOL purchases to build the infrastructure and the foundation for the growth that we expect from the product. It's been outstandingly received, and mostly because it's a proven platform with Bliss, with fat and skin tightening, with our (MP)² technology. By adding the EMS muscle stimulation has created phenomenal interest. Okay. That's great. We look forward to the broader launch here. A question on AI.ME. You know, the March 31 deadline is really only three days away. A two-part question here. What needs to happen for that approval to come through? It sounds like it's really just kind of a signing of a letter sort of deal here. Secondly, why are we waiting until Q4 for that limited launch? What needs to happen in between for you to go ahead with the limited release of AI.ME? Thank you again. Yeah. Yeah, great. Marie, first of all, the first part of your question, you know, we're confident we're gonna be able to file by March 31. We had a meeting with the FDA earlier in the year, and they indicated to us this pathway. We worked with them. We feel fairly confident that we're going to be able to get our clearance in the timelines that is typical for the FDA. Now, FDA is usually a 90-day process, so we built in a little bit of cushion, quite frankly, to make sure that if there are any questions or sort of delays at the FDA level, we could account for that in our assumptions when it comes to launching the product. We have a build process in place already for the AI.ME. Supply chain issues when you're you know, doing a few at a time does impact a little bit of the timeline, so we also want to give ourselves you know, a little bit of cushion there as well. We feel pretty confident that you know, we should be able to get the product commercially viable and available in early Q4. That's why we gave ourselves a bit of room. All right. Thank you so much. Your next question comes from the line of Jeffrey Cohen with Ladenburg Thalmann. Oh, hi, Dom, Domenic, and Ross. How are you? Good. Good morning. Good. Welcome. How are you? Nice to see the company at AAD a couple days ago. A couple questions from our end. Could you give us some thoughts about the trends on buying versus leasing for, I would say, most of the platform as far as how we're modeling systems going forward? Any trends there to read into? Was there any spillover at all from Q4 that we should expect to get pulled through into Q1? Yeah, I think that I'll let Domenic touch on a bit of the trends, but just to be clear that when we look at the sale, the traditional sale versus our subscription/lease programs, there is a difference between units as a percentage of our business and actual dollars. For example, when we're looking at the restoration, like the ARTAS system for hair, that is not available under our subscription model. But it also has an ASP in the area of $250,000 or so it does materially impact the percentage of dollars generated versus subscription. Same thing with Venus Bliss. In terms of the trends, DDP, you wanna touch on where we're going there? Yeah. In the fourth quarter, we had a significant uptick in system sales, which are cash sales. A lot of that was driven by the fact that we had a record quarter for the ARTAS side of the business in terms of units shipped. ARTAS is sold strictly on a cash basis. That kind of skewed it more towards cash in the fourth quarter, and that's not a bad thing. Expect that in Q1 that'll kind of rebalance back as our subscription business picks up slightly in Q1 relative to the kind of mix we saw in Q4. Clearly both subscription and system sales are growing. They will vary a little bit quarter- to- quarter depending on how good a quarter we have on the ARTAS side. With a focus on Bliss MAX going forward, we expect that a certain component of Bliss MAX sales will continue to be on subscription, and that'll kind of rebalance things in 2022. Okay. Can you walk us through how you're thinking about AI.ME and its rollout this year as far as the actual architecture? Is the ambition to have a clearance on the resurfacing with one such device at the tip of the arm and then tack on others such as wrinkles, et cetera, with other energies? Yeah. Yeah, I think you've hit the nail on the head in terms of, you know, what AI.ME is, and to remind the audience that AI.ME is an acronym for Artificial Intelligence Me. We feel very strongly that robotic technologies will play a more significant role in an industry where typically manual intervention has been the norm. We think that this will address a number of different issues, most of which is efficiency of a platform whereby our system has been designed, where we'll be able to take a variety of different energy-based solutions and integrate it into the robotic arm and using artificial intelligence, machine learning, the imaging that we can do with the device, the level of precise assessment of this tissue, for example, through the cameras, et cetera. All of these things help, we believe, improve the clinical outcome, predictability, safety profile of platforms. We do expect to have a number of units available this year. We don't know exactly what the number will be, but just to be clear, you know, the first phase, like as any startup, or startup in terms of, an initial launch. Will be dedicated to, you know, attracting the top KOLs that will be able to help us not only, articulate the benefits of this platform, but also help us expand the clinical indications as they learn more about what the platform can do with our clinical, and, R&D teams. You know, by the end of the year, we're gonna have a pretty good assessment as to the potential for 2023, and we'll build, obviously, our financial models off of that experience. Got it. One last one, if I may, for Dom, and it's just on the modeling purposes. You called out 98 to 101 on OpEx. Was that a GAAP number? Yes. Perfect. Thanks for taking our questions. No problem, Jeff. The next question comes from the line of Jon Block with Stifel. Please proceed with your question. Great. Thanks, guys. Good morning, Jon. Good morning. Maybe the first one, Dom, just on the IoT data. You know, again, you guys are unique. You get a real-time look in there. You talked about the trends exiting 2021, but you know, Omicron persisted into January, and then people are always curious on aesthetics as the world reopens, how dollars get reallocated, if they do. Unless I missed it, my apologies, but any color that you can give us, you know, on how the IoT trends played out from a patient perspective, call it January, February, March? Yeah. We're seeing trends now that are similar to 2019, ahead of where we were. The good news for us is that as we look globally on a consolidated basis, I mean, there's always pockets, Jon, here and there. But overall, globally and especially in the U.S., we've seen really no impact of the Omicron to patient trends. I think that we feel pretty good about, you know, how we're going to see that patient utilization improve and continue to improve. As I mentioned earlier, the trends right now are consistently ahead of the 2019 numbers that we saw when we first brought IoT to the market. Okay. That's great color. Thank you. And then, maybe to pivot, you know, I know we've talked about Bliss MAX and AI.ME as well on the call, but you got a robust pipeline, and you mentioned Freedom earlier. I think you called that a 1H 2022 U.S. launch. You know, how do we think about a revenue contribution this year from Freedom? And then anything more that you can share on the business model? I think it was last earnings call you talked about, you know, a little bit of a different business model because of the target market being the OB-GYNs and, you know, you gotta be a little bit more sensitive from a capital cost perspective. But any other color, Dom, that you can provide there? Yeah. I think what's really important is that we're doing this in a two-step process. Jon, I mean, step one is, as with every product, Bliss MAX, doesn't matter what it is establishing a strong network of KOLs. In order to be able to establish a strong network of KOLs, especially in the OB-GYN market, you have to have solid clinical data. One of the things that we're proudest of the most over the six years there's a reason why we took six years to develop and bring this product to market versus some of our competitors, is that we wanted to have strong clinical data to be able to support the claims that we're making about how this particular product benefits, you know, a variety of different health issues for women. We're comfortable with what we have available to be able to demonstrate to the KOLs in the OB-GYN community who are routinely looking for, you know, not the, I'll call it the sizzle. They're looking for the steak, right? They wanna make sure that the product is properly positioned so they feel comfortable with it. The second part of this, and this is equally, if not more important, OB-GYNs aren't typically used to spending a lot of money on capital equipment. You know, they're quite, you know, they don't wanna do it. What we did is we built a business model that was going to have a modest licensing fee to get into the business, somewhere in the area of $15,000 a unit. This will get the ball rolling, and then what we will do is have a utilization fee for each procedure that will, you know, contribute in a meaningful way. We didn't plan a big number for 2022, just to be clear, because, you know, obviously we wanna make sure that we can get the appropriate KOLs in place. We have those KOLs in place in Canada. We're now working on the U.S. You know, we'll start to see some contributions, but it's not gonna move the needle dramatically in 2022, unless we're surprised by the pace of adoption. We feel that once we've established a good clinical team in the field in terms of KOLs, we'll be able to build momentum through the year, and we'll start to see the benefits of that and hopefully accretive in Q4 and beyond. Okay, that's great. Maybe last one for me, a two-parter. DDP, for you on the supply side, it looks like you're caught up with the backlog, maybe just a broad brush question. Are you out of the woods there? The balance sheet looked good from sort of an inventory perspective. Then, Dom, just for AI.ME, this might build on Jeffrey's question, but I know you said no material impact in 2022, but can you talk about the receptivity from the docs with a general label for tissue excision and skin resurfacing versus the future expanded label for facial wrinkles? You know, in other words, can you really get going with the launch on, call it, the general or do you need the enhanced label when you think about it from a commercial standpoint? Thanks, guys. Okay. Yeah. I'll let DDP answer the first, and then I'll answer the AI.ME question. Yeah. From a supply chain perspective, we think the worst is behind us. Obviously, we've adjusted to the longer lead times that the supply chain our providers demand in terms of our contract manufacturers. We've gone through that adjustment process. We were able to Build more Bliss MAX's that we were targeting to build by the end of Q1. We were able to have a few more units constructed in time. We're feeling pretty good about you know, the balance of the year from a supply chain point of view. Does that answer your question, Jon, for DDP? Certainly does. Yep. Okay. From an AI.ME perspective, as you know, there's always early adopters, right? There are doctors out there that are going to wanna be first to market with a platform. We fully anticipate that that'll be consistent. The reason I can say that with a fairly high degree of confidence is that I've had a number of doctors reaching out to me directly, proactively, asking about, you know, robotics and where we're going, and they wanna be the first on the podium to talk about the advancements in aesthetic medicine. All of those things are strong signals to us that, you know, we're heading in the right direction. As it relates to the general clearances versus, you know, specific clearances, traditionally, in our industry, doctors really. Well, I'll call it the aesthetic doctors now, with dermatologists, plastic surgeons, typically are less concerned about specific clearances and more concerned about being, you know, market leaders. We fully believe that based on the conversations we've had with the four physicians who have been selected to be our investigators for the second clearance with AI.ME for the face, we feel that we have a very high probability of having doctors who will use this device fairly quickly out of the gate, and then tell us, quite frankly, where they're treating patients as opposed to us telling them. You know, 'cause, like I said, most times, doctors who have any kind of ability to be on the podium like to be first to market with these platforms. We feel we have a good opportunity here to make an impact in 2022. How big that impact will be remains to be seen, but we feel pretty confident that we'll be able to get out of the gate fairly strongly. Great. Thanks for the color, guys. No problem. Thank you. As a reminder, you may press star one to signal for a question. Our next question is from the line of Anthony Vendetti with Maxim Group. Hi. Good morning. This is actually Jeremy on the line for Anthony. Just a quick question. In the end, you know, the end of your prepared remarks, you told us the breakdown of your two key franchises. You assume that 75% of your revenue for 2022 is gonna be from those two franchises. I'm just trying to figure out the math based on what you said from the 2021 revenue was coming from your legacy products, 68% was from your legacy products, and then you had, you know, you said it's gonna be high single-digit growth. I'm just trying to figure out, could you maybe just explain a little more how that breaks out going into 2022, if you expect 75% from the two key franchises? Yeah. As we look at the two key franchises we described, right? The body franchise includes the Bliss and the Bliss MAX. We have clearance for the Bliss MAX from the FDA, and that'll be the primary go-to product in the U.S. with a higher ASP. And the Bliss, which does not have any element of a disposable cost to it, and we've already seen the trends in Q4 is starting to gain traction OUS in the price as I said earlier, the price-sensitive markets. That's one of the franchises. The hair restoration franchise, which includes ARTAS, NeoGraft, and the utilization per procedure will represent the second. That was well established in Q4. Because the trends I think these two franchises contributed 38% of our revenue in 2021. Today, we believe based on the trends that we saw in Q4 of 2022, and with the early interest in the Bliss MAX, that it'll represent 75% of our total business. I think that as you look at our business overall, it really is consistent with you know how we've strategized about going to the market, being very, very specific about how we hire our sales organization, how they target the market. 75% year-over-year growth, that's not necessarily revenue, right? We're talking about overall performance and focus of the company. Correct. That 75% is the... If we're growing $20 million, 75% of that $20 million of growth is coming from the, these two franchises. Okay. It's total revenue growth. Okay, that makes. That's helpful. I thought it was just total revenue on the. Okay, great. Yeah. Just one for you. You mentioned when you're giving your, you know, some of the 2020 outlook about gross margin. You mentioned there were some inflationary headwinds here, which is gonna pressure your COGS. What type of steps are you taking, any steps, to try and mitigate that? Maybe it helps us understand. Yeah. I mean, we've commented that the range is 68% to 71%. Depending on the nature of these inflationary pressures, because, you know, we could get a big increase on component parts in the second half of the year and be somewhat surprised by it. Our point is that we have selectively managed our pricing grid such that we're looking to extract out extra margin through 2022. Now, depending on what those COGS headwinds are like, you know, we could do better than 71%. But the plan is that we've taken enough initiatives to offset the COGS headwinds that we're anticipating. We've seen a bit of it trickle through, and we're hearing rumors of more pressures coming down the road. We're prepared to head those off, such that we hope to balance out somewhere around the 70% range and possibly better. Okay. All right, great. Thank you very much. I'll hop back in the queue. Thank you. We're currently showing no additional participants in the queue. That will conclude today's conference for today. Thank you for your participation. Thanks, everybody. Thank you. Thank you.