Good afternoon, and welcome to the Better Choice 2024 Fourth Quarter Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Valter Pinto, Managing Director, KCSA Strategic Communications. Please go ahead.

Thank you, operator, and welcome, everyone, to the Better Choice Company's Fourth Quarter and Full Year 2024 Financial Results Conference Call. Joining me today are Kent Cunningham, Chief Executive Officer; and Nina Martinez, Chief Financial Officer. The company's financial results press release has been posted to the Investor Relations section of the website and will be followed by a Form 10-K to be filed with the SEC on or before March 31. Please note that remarks made today may include forward-looking statements, subject to a variety of assumptions, risks and uncertainties. The company's actual results may differ materially from those contemplated by such statements. For a more detailed discussion, please refer to the note regarding forward-looking statements in the company's earnings release and SEC filings. Also during the call today, we will discuss certain non-GAAP financial measures. Reconciliations of these non-GAAP items to the most directly comparable GAAP financial measures will be provided by the company's financial results press release and made available on the Investors section of the company's website. I'd now like to turn the call over to Kent Cunningham, our Chief Executive Officer. Please go ahead, Kent.

Thank you, Valter. And thank you, everyone, for joining us today to discuss our fourth quarter and full year 2024 financial and operating results. I'm joined on today's call by Nina Martinez Financial Officer. I'll give a business review of 2024, and Nina will then cover our financials in more detail. I'm pleased to report that our business delivered a strong performance in 2024 as we made significant progress and our turnaround strategy to improve profitability and lay the foundation for sustained profitable growth. For the full year, we delivered gross profit margin of 37%, representing an increase of over 600 basis points and our adjusted EBITDA loss of approximately $1.9 million improved 78% year-over-year on annual net revenues of $35 million. Despite growing consumer uncertainty surrounding geopolitical and potential tariff impacts on the cost of everyday goods, the pet food category continues to show resiliency as pet ownership to increase and consumer spending continues to rise with the macro trends of pet humanization, premiumization and wellness underpinning industry growth. Halo continues to offer a unique brand position for the health-conscious consumers seeking the best nutrition for their pets. The brand's performance was highlighted by an impressive fourth quarter revenue growth of 26% year-over-year. Our growth in the quarter was driven by 32% growth across Amazon and Chewy as we increased our focus and participation and Black Friday promotions across these platforms. This sales velocity is a key building block to revenue growth, but more importantly, long-term growth as we increased the number of new-to-brand or first-time consumers of Halo. As a result, we achieved our best quarter with Amazon since the first quarter of 2023. We also successfully launched Halo on Chewy Canada in November. These results give us increased confidence that our strategic shifts are working and that…

Thanks, Kent, and good afternoon, everyone. I'll begin by noting that our annual net revenues of $35 million are down 9% as we knowingly and strategically exited non-core sales channels to improve profitability and create operating leverage in the business. In the first half of the year, we continued to exit draining brick-and-mortar accounts and other distribution avenues as well as closing an unprofitable direct-to-consumer business by the second quarter. Despite the expected consolidated revenues down slightly due to these strategic pivots, annual net revenue within our key digital platforms increased 8% year-over-year as we rebalanced our brand building investment from the unprofitable DTC business to our largest and growing e-commerce customers, Chewy and Amazon. We also continue to drive increased consumer demand for the Halo brand globally, noted by 18% growth internationally. As Kent highlighted earlier, the momentum we realized in the fourth quarter was 26% net revenue growth year-over-year to $7.2 million was notably driven by a 32% growth across our key digital platforms and more than doubling our Asia Pacific volume. In the fourth quarter, we also realized significant improvement in our gross margin to 36% driven by volume discount. Full year gross margin increased over 650 basis points year-over-year to 37%. This demonstrates our ability to scale efficiently and manage trade spend and COGS effectively, particularly as we continue to invest in profitable core areas of our business and optimize our operations. We achieved scale in our current portfolio domestically through a Halo holistic plant-based diet as a leading brand in the vegan pet food sector and as well through our international volumes. We significantly reduced operating expenses in 2024 with an overall SG&A reduction of 22%. This is a result of our ability to effectuate striating initiatives to support our focus on sustainable growth. Our…

Thanks, Nina. As many of you know, we're in the process of completing our acquisition of SRx Health. Both the better choice and SRx helps shareholders unanimously approved the transaction, which we expect to close in April. Upon closing, Better Choice will emerge as a leading global health and wellness company, providing better products and solutions for pets, people and families. The combination of the 2 companies is expected to yield operational efficiencies and synergies while providing near- and long-term growth opportunities that will drive sustained growth for each respective business. We look forward to updating everyone on further details on our strategic plans after the closing of SRx. I'd now like to open the call for questions. Operator?

This concludes our question-and-answer session and the Better Choice 2024 Fourth Quarter Financial Results Conference Call. Thank you for attending today's presentation. You may now disconnect.