Good morning, and thank you for joining the Third Quarter 2021 ReShape Lifesciences Earnings Webinar. I am pleased to be joined by Bart Bandy, Chief Executive Officer of ReShape Lifesciences Inc., who will provide an overview of the Company's recent activity during the third quarter of 2021. Tom Stankovich, Chief Financial Officer of ReShape, will then review the financial results for the recent quarter and then turn the call back over to Bart to finish. As a reminder, this conference call as well as ReShape Lifesciences' SEC filings and website, including the Investor Information section of the website, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties and other factors. These and additional risks and uncertainties are described more fully in the Company's filings with the Securities and Exchange Commission, including those factors identified as risk factors in our most recent annual report on Form 10-K and our quarterly report on Form 10-Q. As an additional reminder, our stock is listed on the NASDAQ capital market trading under the ticker symbol RSLS. I will now turn the call over to our CEO, Bart Bandy. Bart?

Thanks, Daniel. Good morning, everyone, and thank you for joining us today. Throughout the third quarter of 2021, we executed several initiatives to further build momentum on the accomplishments we garnered in the previous quarter, including our merger with Obalon and listing on the NASDAQ. I am also pleased to report that we continue to strengthen our market position as demonstrated by our growing revenues for the first nine months in 2021 of $10.5 million, representing a 29% increase from the same period last year. Before I discuss in detail the work we've done to maximize the value of our product portfolio, I'd like to provide a brief synopsis of the massive market opportunity to ReShape. Studies show that 73% of American adults are overweight or obese, with about 50% of that population seeking to lose weight every year. To capitalize on this multibillion-dollar opportunity in the U.S. market by 2025, we made the informed and strategic decision to allocate our resources towards the debut of the Company's first and largest mass media, multi-platform advertising campaign for our lead product, the LAP-BAND, which has specific weight loss indications approved by the FDA and is covered by most insurance plans. Available across national television channels and major print publications, our goal is to effectively communicate the important benefits of the LAP-BAND directly to our targeted audience. We want to ensure that our product has high visibility in the marketplace for anyone seriously considering weight loss options. It is essential for the Company to promote the differentiators of our product, including its safety and efficacy profiles as well as the ability of this technology to be adjusted for individual needs and the procedure being available in outpatient surgery centers, with most patients going home the same day. Confirmed through recent test marketing…

Thanks, Bart. And once again, thank you all for joining our webcast this morning. Following our capital raise of $46 million in June of 2021, which significantly improved our balance sheet. We embarked on executing our growth initiatives, including the launch of our major advertising campaign. Before turning to our detailed metrics, I'd like to provide some color on our noncash stock-based compensation expenses and costs related to the merger with Obalon that drove substantial increases in our operating expenses for the following areas: sales and marketing, general and administrative and R&D. As a company, we placed employees at the heart of our business, understanding that noncash stock-based compensation is a proven and effective tool to retain existing staff, attract seasoned professionals and enhance incentive programs. Subsequent to the merger with Obalon, listing on the NASDAQ and our fundraising, we issued for the first time since 2017 restricted stock units or stock options throughout the organization. Considering the height of this expense during the quarter, we believe it is appropriate to call out these metrics. For the three months ended September 30, 2021, we recorded $10.7 million of total stock compensation expense. Of note, a majority of this expense includes a onetime charge for a lookback provision for vesting to begin at the one-year anniversary date of employment. Between the relatively higher-than-normal noncash stock-based compensation expense and the $6 million of acquisition-related outlay of funds, it is important to note the metrics reported this quarter are very specific and attributed to the major milestones we completed this year and are generally considered onetime charges. However, we expect that our ongoing strategy to build revenue, minimize costs as streamline expenses will offset these increases over the future quarters. With that backdrop, let's turn to our revenue and operational results for the…