Calyxt, Inc. (NASDAQ:CLXT) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 08:30 am ET

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Calyxt, Inc. (NASDAQ:CLXT) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, ladies and gentlemen, thank you for standing by. Welcome to Calyxt's First Quarter 2020 Results Conference call. [Operator Instructions] The conference is being recorded today, May 7, 2020.

At this time, I would now like to turn the conference over to Chris Tyson, Managing Director of MZ North America, Calyxt's Investor Relations firm. Please go ahead, sir.

Executive
Chris Tyson

Thank you and good morning. I would like to thank you all for taking time to join us for Calyxt First quarter 2020 Business Update and Results Conference Call. Your hosts today are Jim Blome, Chief Executive Officer; Bill Koschak, Chief Financial Officer; Keith Blanks, Senior Vice President of Sales and Marketing; and Travis Frey, Chief Technology Officer. A press release detailing these results crossed the wires this morning at 8 o'clock Eastern today and is available on the Company's website calyxt.com.

Before we begin the formal presentation, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results and future operational goals and industry prospects are forward looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the call. Please refer to the Company's SEC filings for a list of associated risks. This presentation also includes a discussion of adjusted EBITDA and gross margin as adjusted, both are non-GAAP financial measures in Calyxt's press release and its filings with the SEC, each of which is posted on the Calyxt website at calyxt.com. You will find additional disclosure regarding these non-GAAP measures. Reference to these non-GAAP financial measures should be considered in addition to GAAP financial measures. It should not be considered a substitute for results that are presented in accordance with GAAP.

Finally, this conference call is being webcast. The webcast link is available in the Investor Relations section of our website at calyxt.com. At this time, I would like to turn the call over to Calyxt's Chief Executive Officer, Jim Blome. Jim, the floor is yours.

Executive
Jim Blome

Thank you, Chris. Thank you for joining us today for Calyxt First Quarter 2020 Results Conference call. Before I begin our First Quarter Review including how Calyxt is navigating through the current COVID-19 crisis, I would first like to give everyone a quick primer on our business. As the foundation built in 2019 has positioned Calix for success in 2020 and beyond.

Calyxt is a technology Company delivering plant-based solutions that are healthy and unsustainable. We are the first Company in the world to bring a gene-edited food product to market and we intend to bring additional products to market focused on two important pillars, the first pillar is Health and Wellness where examples of product concepts we are working on include projects that are heart healthy, anti-inflammatory, higher in fiber, better tasting, or higher protein. The second pillar is sustainability. We're bringing products to market that offer sustainability benefits including the potential to replace imported oils that may be driving deforestation