Biofrontera, Inc. (NASDAQ:BFRI) Q4 2022 Earnings Conference Call March 8, 2023 4:30 PM ET

Company Participants

Erica Monaco - CEO, COO, Treasurer & Secretary

Fred Leffler - CFO

Conference Call Participants

Jonathan Aschoff - ROTH Capital Partners

Bruce Jackson - The Benchmark Company

Operator

Greetings and welcome to the Biofrontera, Inc. Fourth quarter 2022 Financial Results Call. At this time, all participants are in a listen-only mode and a question-and-answer session will follow the form of presentation.

I will now turn the conference over to your host, Mr. Toni [ph]. You may begin.

Unidentified Company Representative

Thank you. Good afternoon and welcome to Biofrontera, Inc.'s conference call to discuss our fourth quarter and full year 2022 financial results. I'm joined today by Biofrontera Chief Executive Officer Erica Monaco and Chief Financial Officer, Fred Leffler.

Before turning the call over to Erica, I would like to remind everyone that on the call today we will be making forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are based on bio Biofrontera's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations. For a list of factors that could cause actual results to differ, please see today's earnings release and our filings with the US Securities and Exchange Commission. Biofrontera undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call, except as required by law.

I would also note that during this call, management will refer to certain non-GAAP financial measures such as adjusted EBITDA. Management believes that these measures provide meaningful information for investors and reflect the way they view the operating performance of the company. You can find a reconciliation of our GAAP to non-GAAP measures at the end of the earnings release.

With that, I'd like to turn the call over to Erica Monaco. Erica?

Erica Monaco

Thank you, Tony, and thank you to everyone tuning into our call today. We appreciate your interest in Biofrontera. 2022 was Biofrontera's first full year as a public company. It was an eventful year and I am proud of our team's many accomplishments. We achieved record annual revenues in 2022, up 19% over 2021 and 12% higher than our previous record, which was the pre-COVID year 2019.

Coming off of this landmark here, I want to pause for a moment and recognize today, March 08 as International Women's Day. This year's theme is to embrace equity. As a female business leader, I am proud to support an organization that values and embraces inclusion of all. Biofrontera is 58% female and proud to be contributing to a more inclusive world. Today, I would like to celebrate the amazing employees and industry partners we have, the challenge of the status quo, make an impact and drive for change.