Biofrontera Inc. (NASDAQ:BFRI) Q2 2023 Earnings Conference Call August 11, 2023 8:30 AM ET

Company Participants

Tirth Patel - Investor Relations

Hermann Luebbert - Executive Chairman and Founder

Fred Leffler - Chief Financial Officer

Conference Call Participants

Jonathan Aschoff - ROTH MKM

Bruce Jackson - The Benchmark Company

Operator

Good morning everyone and welcome to the Biofrontera Inc. Second Quarter 2023 Financial Results and Business Update Conference Call. [Operator Instructions] Please also note today’s event is being recorded. And at this time, I would like to turn the floor over to Tirth Patel with LHA Investor Relations. Please go ahead.

Tirth Patel

Good morning and welcome to Biofrontera Inc.’s second quarter 2023 financial results and business update conference call. Please note that certain information discussed during today’s call by management is covered under the Safe Harbor provisions of the Private Securities Litigation Reform Act. We caution listeners that Biofrontera’s management will be making forward-looking statements and that actual results may differ materially from those stated or implied by these forward-looking statements due to risks and uncertainties associated with the company’s business. All risks and uncertainties are detailed in and are qualified by the cautionary statements contained in Biofrontera’s press releases and SEC filings.

Also, this conference call contains time-sensitive information that’s accurate only as of the date of the live broadcast, August 11, 2023. Biofrontera undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this conference call, except as required by law. During today’s call, there will be references to certain non-GAAP financial measures. Biofrontera believes these measures provide useful information for investors yet should not be considered as a substitute for GAAP nor should they be viewed as a substitute for operating results determined in accordance with GAAP. A reconciliation of non-GAAP to GAAP results is included in this morning’s press release. More specifically, management will be referring to adjusted EBITDA, a non-GAAP financial measure defined as net income or loss excluding interest income and expense, income taxes, depreciation and amortization and certain other non-recurring or non-cash items.

With that, I would now like to turn the call over to Hermann Luebbert, CEO, Chairman and Founder of Biofrontera. Hermann?

Hermann Luebbert

Yes, thank you, Tirth, and my thanks to everyone joining us this morning. On today's call I'll provide an overview of our growth strategy and our accomplishments during the second quarter that helps lay the groundwork for many value-driving initiatives. Fred Leffler, our CFO, will follow with a discussion on financial results, and then both of us will be available to answer questions.