The Real Good Food Company, Inc. (NASDAQ:RGF) Q1 2022 Earnings Conference Call May 13, 2022 8:30 AM ET

Company Participants

Bryan Freeman - Executive Chairman

Jerry Law - CEO

Akshay Jagdale - CFO

Chris Bevenour - VP, FP&A and IR

Conference Call Participants

Jon Andersen - William Blair

Bill Chappell - Truist Securities

Rob Dickerson - Jefferies

George Kelly - ROTH Capital Partners

Operator

Greetings, and welcome to The Real Good Food Company First quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Chris Bevenour. Thank you and over to you.

Chris Bevenour

Good morning, and welcome to The Real Good Food Company's First Quarter 2022 Earnings Conference Call. On the call today are Bryan Freeman, Executive Chairman, Jerry Law, Chief Executive Officer, and Akshay Jagdale, Chief Financial Officer. You may access our first quarter earnings release which we published at approximately 7:00 a.m. Eastern Time today. If you have not had a chance to review the release, it's available on the Investors portion of our website at www.realgoodfoods.com.

Before we begin, I'd like to remind everyone that certain statements made on this call are forward-looking statements within the meaning of federal securities laws, and are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements made on this call today, other than statements of historical fact, are forward-looking statements, and include statements regarding our projected financial results, including net sales, gross profit, gross margin, adjusted gross profit, adjusted gross margin, and adjusted EBITDA, as well as our ability to increase our net sales from existing customers and acquire new customers, introduce new products, compete successfully in our industry, implement our growth strategy, and effectively expand our manufacturing and production capacity. Forward-looking statements made on this call represent management's current expectations and are based on information available at the time such statements are made. 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. In addition, throughout this discussion, we refer to certain non-GAAP financial measures, which refer to results before taking into account certain onetime or non-recurring charges that are not core to our ongoing operating results, and which we believe better reflect the performance of our business on an ongoing basis. Our non-GAAP financial measures, including adjusted gross margin and adjusted EBITDA, are referenced. A reconciliation of each non-GAAP financial measure to its most directly comparable GAAP financial measure, is included in our Q1 earnings release, which is available on our website under our Investors tab.