Good afternoon and thank you for joining the Second Quarter 2021 ReShape Life Sciences earnings webinar. I am pleased to be joined by Bart Bandy, Chief Executive Officer of ReShape Lifesciences, who will provide an overview of the company's recent activities and business highlights for the second 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 within the Securities and Exchange Commission, including those factors identified as risk factors in our annual report on Form 10-K and in our quarterly report on Form 10-Q that will be filed shortly. As an additional reminder, our stock is listed on the NASDAQ Capital Market trading symbol -- under ticker symbol RSLS. I will now turn the call over to the CEO, Bart Bandy. Bart?

Thanks, Daniel. Good afternoon, everyone, and thank you for joining us today. The second quarter of 2021 proved to be a significant inflection point for ReShape, marked by the successful completion of our merger with Obalon Therapeutics and listing on the NASDAQ Capital Market. Further driving this momentum, we raised $46 million through a warrant exercise agreement with existing accredited investors. Following the execution of this significant chain of events, we believe we are well positioned to launch a new chapter for ReShape in the weight loss market. Before I dive into the details of the major accomplishments we've made this year, I'd like to take this opportunity to thank the team here at ReShape for their diligent and steadfast efforts over the past year. With this team's support, we have broadened our reach from a company with a singular product focus to one building a robust proprietary ecosystem of weight loss solutions and regained our status as a publicly traded company on a major exchange. In addition to listing on the NASDAQ, this transaction presented ReShape the opportunity to add yet again another FDA-approved innovative and safe weight loss solution, the Obalon Balloon System. This technology brought back online has the ability to complement our suite of products aimed at scaling care options for patients suffering from obesity. While securing the Obalon transaction was certainly a top priority for us during the pandemic and entering 2021, it was also prudent to bolster our balance sheet to ensure we could sufficiently support our growth initiatives and eliminate debt overhang. In June, we achieved this objective with a $46 million financial raise that has allowed us to recapitalize the company by settling the terms of our previous secured credit agreement, removing all leans on our assets and increasing our cash runway.…

Thanks, Bart, and good afternoon, everyone. The second quarter of 2021 was a very exciting time for ReShape with regard to the completion of our merger with Obalon, our listing on NASDAQ and the strengthening of our balance sheet through a capital raise of $46 million with existing investors. This significant infusion of funding places the company in an ideal position to consider and execute strategic initiatives geared towards growth. For the 3 months ended June 30, 2021, we reported revenues of $3.5 million as compared to revenues of $1.7 million in the 3 months ended June 30, 2020, representing a 107% increase. The $1.8 million increase was primarily due to increased revenues in the U.S. Additionally, our revenues grew 10% sequentially from the first quarter of 2021, representing increases in both U.S. and OUS revenues. We reported gross profit of $2.1 million in the second quarter of 2021, representing a gross margin of 61% compared to $800,000 in the 3 months ended June 30, 2020, with a gross margin of 49%. The higher gross margin is attributed to increased sales volume as revenue increased 107% as we achieved lower overhead department and period expenses. Total operating expenses for the 3 months ended June 30, 2021, increased by $2 million to $5.9 million as compared to $3.8 million for the 3 months ended June 30, 2020. Sales and marketing expenses for the second quarter of 2021 were $1.4 million as compared to $800,000 for the second quarter of 2020. Our increased expenditure stems from expanded marketing and advertising efforts for the ReShape product portfolio. With our recent capital raise, the company now expects to devote more resources towards sales and marketing activities and hence, increased sales and marketing expenses as a percent of revenue through the remainder of the year.…

Thanks, Tom. Back in 2020, we identified and initiated the process of completing the merger with Obalon during the heightened days of the pandemic. Today, we stand soundly fortified. And with the resources we now have available, we are prepared to enter the second half of 2021 with strengthened levels of confidence and capability. Thank you to our employees, customers, existing and new shareholders for your continued support of ReShape. We look forward to delivering on our mission to become the premier physician-led weight loss company as we continue to expand our physician and patient reach with effective and safe solutions.