AZYO - Earnings call transcript Q2 2021

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to Aziyo Biologics Q2 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]. to Leigh conference Salvo. like speaker to now today, for would hand over the your I

You begin. may

Leigh Salvo

Thank you. And today's call. thank you all for participating in

Ferguson, the the site. second Joining Officer; ended company's June today, Lloyd, Web Ron A quarter is released Chief copy available XXXX. Matt the of Aziyo for me Earlier release Financial results Chief financial XX, Officer. press are and Executive on

to you statements expectations predictions events, our call statements that involve call on you from Before the undue management by Private events make and implied are outcomes, upon or not those development, statements. statements. and and provisions our risks products, or of market expansion to and we guidance to statements based Act assumptions. recovery, future begin, our expectations that securities statements. this revenue, forward-looking material on forward-looking I'd impact are expense business of or commercial performance results our forward-looking these Accordingly, XXXX. not expenses, or for operating margin Reform milestones performance, results statements expected made patient These trends that operating COVID-XX the this relating contained estimates pipeline and forward-looking these organization, future federal gross future expected anticipated that and of product limitation, including remind and and opportunity, differ include matters reliance actual and place growth hiring, those product are and could do financial pursuant commercial current prospects of partnerships without within for uncertainties for materially to in management, launches performance relate results should like the cause meaning statements, of during the our including which All Safe to of in Litigation or relate historical fact Any will laws, of Securities to Harbor various

for time-sensitive projections XX-Q or excluding forward-looking section refer this asset public quarterly For financial to a gross to measure. statements conference whether A we Ron or available margin, Biologics or or annual at during disclaims business, and only with intangible XX, risks otherwise. XX, our which for XX, as on accessible because year is updated quarterly financial comparable fiscal most Web call that, June with our Aziyo of the the refer the associated report intention list financial XX-K XXXX. required on report today, XXXX. Risk SEC, the to Form our to for with and and This uncertainties period update as except filings call on August XXXX, ended obligation, any by law, information description of December the of as ended by live our broadcast contains Factors Form please the Aziyo's X, including any revise Lloyd. directly Web is measure of the events this company's Investor GAAP site is is a to of non-GAAP new earnings measure financial which turn information, on the reconciliation of amortization, the Relations presentation, non-GAAP over XXXX, future on the release will second quarter site page the www.aziyo.com. ended SEC's posted and I And June the Also, accurate

Ronald Lloyd

increased year the the us. Net second sales delivered quarter substantially afternoon to Aziyo compared ago Thanks, quarter well as pre-COVID of levels. thank XXXX. strong again for everyone Leigh. results joining Good you as and in

orthobiologics the We've I'd CanGaroo like product. lot our actions more of a in main our underway recall few update on milestones progress regard Envelope. and next contract FiberCel We the donor with also to minutes. in reconstruction the our areas these two CanGaroo continue And generation meaningful roll continue clinical hit on provide according of all for to tissue plans. share first, development trials I'll our to our to internal single soft made in details But of manufacturing an recent businesses. a to our

from late had recent surgery of May surgical positive communications, were our patients you our experienced notified who infections, some several in patients we that As that product tuberculosis. FiberCel know for that including tested many post included

of that team been possible mycobacterium our for voluntary of lot. believe lot the care currently worked received lab took and to have their to a that lot the known unused distributor product in All reason action all Our quarantine. that matter. this our no are other to the We analyzed CDC, for the has returned of single have now physicians samples direction of This of to account immediately product. Under secured with donor deliver investigate at lots led remain units to the this we for recall tuberculosis. Based suspected on positive government hospitals FiberCel best donor been in We this U.S. committed affected. products enable providing the have tested patients. information,

this thoroughly based identified and is protocols, not producing any which industry standards on an and unfortunate While event, have we've our donors from for deviations procedures we and FiberCel, are screening government extremely established requirements. reviewed our

records the made observations. the recall, an Following manufacturing our inspection facility completed no also and control of and FDA quality XXX

of the the our standards category. this on to in broaden We quality well industry this We've state of catalyst donor standards. of screening a detection our goal existing our for priority. and is principle criteria, experience of the products, in further culture the adjustments disease art is of patients products be can beyond believe built and all regulatory the is improvement for at safety, in our efficacy our Importantly, our being already and highest and made continuous Aziyo advancing

by suspension our distribution decisions resumption FiberCel. of any of partner, the FiberCel yet current sales of have indicated their Regarding of they not sales on as

quarter was and representing a over financial increase XX% XXXX. to was quarter over million, XX% XXXX. turning of second second of increase revenue quarter million, product a highlights. XX% over year-over-year $XX.X the increase revenue quarter XX% Now the briefly and a Total a our the second Core of second XXXX increase XX

of Excluding sales grow revenue of and FiberCel, first core total the sequentially. XXXX quarter our over our X% products we saw revenue grew X%

our core product markets; repair and bone devices reminder, orthopedics reconstruction. defibrillators, implantable as spine electronic soft primary and or tissue pacemakers a procedures, platforms three and address As such

We of see the believe contracts patients. the and was reaching fulfill our through regenerative Richmond of tissue highly product products facility we of increased growth medicine an Additionally, truly further our of awareness attributable California manufacturing Core processing pleased traction validation and business. that new to benefits we're our quarter to component products. unique, our as in are a the leverageable products primarily remodeling our continued

of with business our the unique we electronic of how this Throughout as progress our some well to the recent second for year. trials as now clinical Starting current see and in highlights remainder the CanGaroo, Turning biological underway. quarter two the and in advancements devices. the XXXX, implantable stabilizing envelope of made we the development product quarter on further and for commercial trending

add in significantly through that market accounts December. a We last expand Premier breakthrough States. Premier received The us with is than with continue opportunity we our designation the network enabling United to partnership the X,XXX more to hospitals of

allow XX Providence partnership Additionally, delivery with expand delighted Health should our us organization quarters. made in in integrated look business. share, professionals agreement and We've part progress also quarter with to a we sales Providence with we in the forward our to QX of coming System. field further market to network, and ended sales working with were This expanding them the partnership execute the another this

and have market in driving growth pleased sales existing further penetrating awareness. to see the reps are We made the traction our and

productivity the our are of the second of the Scientific partnerships reps expand and focused we increase Biotronik sales. leveraging and For half continue to of to Boston further XXXX, on

XXXX, expect milestone starting with recent that XXXX. We generation new to on achieved on completion planned note, path validation. track CanGaroo of our of advancement Envelope. also FDA of recently, QX reach additional see approach this our product. we submission the to of next FDA to the we Most launch in hire we're remain submission the next in continued We excited reps manufacturing as to the On

will enhanced Envelope adding reminder, As generation to the by envelope. a antibiotics be the and rifampin next the minocycline CanGaroo

the antibiotics we biological FDA This long-term half to XXXX. substantial, create submission, clearance product FDA the Following with potential Aziyo. to and launch the in for of expect has growth product second receive

HEAL We demonstrate results a look enrollment. update an front, the and for the clinical confident forward progressing envelope. biological clinical continued derived will on clinical to from the De benefits the CanGaroo, both study to data allow we're Novo As us unique the with this study nicely are and further

our to turning spine orthopedic Now business. repair and

the other Viable important pleased commercial of areas platform able the a of progress make highly several The of in our the quarter purchases comment our Matrix our continue subsequent distributor, in with continues This during platform independent we continued partners. products SimpliDerm this a very model. we FiberCel, tissue second recall be by efficient to differentiated two were U.S. our I'd new XXXX. business a an ViBone In OsteGro As area, product portfolio soft our contract Working component see we're market and our reconstruction suspension and to on Despite among reminder, momentum on to to tissue V. in manufacturing. FiberCel consists business accounts business. are like of primarily product distributors, Bone of to last soft and the with bring

market new regional forward increasing new partners three year these penetration look our this half beyond. up signed in the recently second also We distributors the of and and in further to

and The first peer-reviewed of a adoption. of the article plastic in this out SimpliDerm. widespread related publication as more an step June support reconstructive journal building SimpliDerm’s second essential to the first also the to saw surgery in body quarter see evidence of publication issue We

firmly the one to our think stable portfolio, core in encounter as value from. temporary seen of with in quarter. in I FiberCel hurdles the reiterate We're when believe case build to especially a product exists diversity the this it's foundation appreciative the portfolio this and was of of second that diversity we we important product, provides

quarter see to saw continue year, Sales the year. steady than higher of were we this we manufacturing from in million business. levels our of significantly last most second Lastly, contribution $X.X for contract

we prior believe in expect of we second good the grow XXXX. have and part As in visibility to calls, half our discussed business, it this on of

organization pipeline generating surgeries. high advancing we that We're clinical our each our in progress turn I'll and differentiated with penetrate implantable product of As in channel to on opportunity expand And detail. outcomes commercial Matt results we ever forward, to over improve device-related go that call and with our greater to the that, portfolios as regenerative growth financial markets, the meaningful data. a while in products sales making partnerships medicine have to look I'm and as robust deliver through confident

Matthew Ferguson

Ron. Thanks,

the products included This compared by lower ended by increase the the in net as million, return quarter other year. and and non-core margin quarter suspension products $XX.X associated in same Gross the million margin for As were related We core well as a from mentioned, sales to XXXX the was These to of the costs sales was to growth period. increase non-core the gross corresponding in year-over-year. compared volumes XX, XX% of product net million. sales increased XX% in second offset the efficiency contribution FiberCel ago margin estimate impact recall, a the for subsequent prior of reimbursement production $X.X the to FiberCel the June improvement of the year of period our gains $X.X primarily purchases three and improvements. XX% quarter, the in second XX% XXXX operational months as with products. of attributable higher loss revenue recorded The XX% to from year distributor, be were approximately for including to related recall prior

excluding offering. a gains included generation expenses second for second to have Aziyo’s increase expenses the to $X.X $X.X net company's year the of as XX% quarter impact from margin with PPP as were associated compared of the the that million and year $X.XX the intangible next one-time public operating related forgiveness per in of Net costs Envelope million, growth company The Total amortization non-cash were quarter of ago compared share public was was quarter sales, associated share XXXX a in the our margin initial operating XXXX XXXX. We with quarter. gross a of been per the basis, quarter $X.XX current to also was associated common loan. the XX% XX% the $X.X look ago second to to loss of net which prior loss XXXX increase million, QX in XXXX. totaling with on of Loss year the preferred of contributors in $XX.X adjusted loss quarter, association would stock project. assets. the versus quarter of second main a gross company's And CanGaroo at QX into The in the primarily of quarter stock with conversion second spending in million higher the development commercial for

$XX.X total As available credit, of balance XXXX, liquidity of of June an capital our for line borrowing million, XX, under million a with resulting in cash additional we of $X.X working million. $XX.X had

the visibility the of we third to yet briefly a our to full sufficient business, we expected turning for outlook for provide year. But for Now revenues reinstate don't quarter. can guidance have range the

This negative We the in be third X% $XX in sales expect change positive $XX to a the ranging to to X%. net million of from million. quarter range represents year-over-year

of XX% in the assumes over quarter this of to third FiberCel the Delta This assuming surgical in other outlook significant represent including Excluding growth a which not sales, procedure States, XX% in and not resume third COVID-XX volumes robust September. from quarter, impacts XXXX. United variants, and the recent result also resurgence reduction would we're will cases does the in August of in

have quarter, are this will and far We a the continue case. slowdown that be so optimistic to such seen not cautiously

this your Now open I point, to Ron for and call would like at the questions.

Operator

you. Thank [Operator Instructions].

question the comes O’Brien of first Piper with line Sandler. Our Matthew from

Your line open. is

Matthew O’Brien

Matt, It inspection questions. agency get the Thanks from about the for to you're well. the can went or back little as trying here with just talk Ron FiberCel a like the taking process market? remediation on sounds you bit the

lot. one the identified You've

any of early any litigation? if any that may Is it even expecting litigation this coverage that kind you QX. or then that can frame outflows you as any sales potential possible of QX maybe year? start in And exposure, happen in offset this result can a and or next at point, may insurance selling settlements could not maybe then up you You're match

Ronald Lloyd

try me Sure, to Matt. let start that. address and

built I think have you quite into there. of a questions number

start can me see let if So them. we and address

reiterate, first question product. We've lot. to the your all issue. that this and again at and looked of was was of single recalled our ability a this around procedures to commercial our just these no anything that FiberCel So sales lot resume donor We regulatory that to The issued again have Form facility, saw protocols. there based deviation, as inspected issues, We've no seen industry was we mentioned, and no XXX. on done which standards. protocols, are FDA, relative you Again,

FiberCel regulatory nothing overall that So us it from really as an selling stands today. stops perspective, from there's

time we've donors that donor addition, into rates and made gone In TB. a on adjustments higher some amount could spent that our screening, other countries for of excluding have significant in of example,

this from do sell now available through FiberCel product Medtronic could we through partnership to cell commercially. sales were And decision made our with the be so perspective, process. obviously our right recall cease as the We of product And the Medtronic. going

in on us regulatory as of standpoint terms they've an indication so a their us nothing And decision of this stopping given there's resume FiberCel. not to from sales. But time, commercializing

bit to let through as over to it to coverage. questions me it little your so go a Matt relates more turn And

Matthew Ferguson

Yes, Matt.

potential litigation with perspective, So I several you a claims in process this very really asked very, but exposure is filed and it's about true. it We've think early matter, from the associated still. had

normal accepted processes, so deviations haven't our normal and either And throughout kind a those through industry. we thorough identified been of And processes Ron from processes as own on or end. mentioned, review any we've done our generally our the

be numbers claims exposure just a our us. But on felt early point to any So the it what estimated when that that comes really favor against we is that in from is. too put I is, perspective, like it guess, made might to strong

numbers in like companies have to any it's a for little is us situation that on the designed financial like we situation As deal you to work would early company that with this a confident from view. we'll put But of insurance it. point ours I'm industry, just a like help And through expect this. a

our related kind any matter. this established haven't in We a QX reserve of to financials

Matthew O’Brien

you're kind given have they’ve you I'm here? if or away had And Ron, for then, when with they at decision, may occurred point. any you And make think you walk just do have them conversations, they this Thanks. eventually basically Medtronic, given a sure indication you just of what waiting may and

Matthew Ferguson

may mute Ron, on you I think be still.

Ronald Lloyd

recall talk work weekly Matt, to this Yes. Obviously, we through Medtronic process. we as

our that product are so, received And recall, care. appropriate working is that medical sure again, focus first patients on initially the the getting through trying CDC, securing product, with make also the the then to the and

And so our in and again, that's they've them, not indicated where here. with energy conversations timeline has focus a And been.

is to products speculate as going our would And I though, of momentum partnerships. through know, other to business sell so say pleased see decision hate you as to to continued made. And the we viable when partnerships. our other that also through to we're this like I'd be bone other

In addition, those bone we're going And also look add some our partnerships viable we additional as partnerships. products. adding looking for relationships conversations at and are additional to well,

Matthew O’Brien

then side And on last me, CanGaroo things. it's for one just it. the Got just of

I core I sequentially. believe the that includes X% think, of impact the Matt, FiberCel the quarter. business said up is you don't in

So bit there, CanGaroo across that things selling channels more would a just FiberCel. up from Providence. you've lot you about Can But got the be how Thanks. sales if Premier, reps perspective? the of of are You've product? talk that assuming now. I'm a going momentum various a got little you're included you it seeing

Matthew Ferguson

Sure.

that. So, me Matt, address let

related the CanGaroo product growth category actually the out of previous look to performance our QX, was as product, terms of for category we sequential our the look we know growth. in versus quarter. we at leading you Aziyo about when And at performance, products. was our and QX we kind I when our But details think what the don't our product in core So leading calls break sales shared have

And that think that. so factors. I main we're is excited from really about growth coming And two

been through The agreement Premier to come first we is mainly add that signed has our we've accounts. This through, December. able new last

designation As you received on we based the breakthrough CanGaroo recall, technology.

QX network adding And been for so sign with active excited actually another we've integrated And Health accounts. additional we're Premier and to System. Providence

meeting. think, that's CanGaroo. and messaging, that and pleased relates very we of HRS And that we of drive to envelope to the a terms benefits is our second at the their meeting, initial And conversations having and derive we’ll customers. with And more CanGaroo that's finished really it CanGaroo, of So half from as gravitate doctors CanGaroo the biological just in now accounts, the business. this look to to benefits again, ability towards resonating continue remodeling accounts, see the as leading the collectively here that patients then we we continue think to And progress our will second of this. to remodeling the use you with to the at continue we the year. benefit as that and going expansive to is additional growth factor expanded add with know, And as

Matthew O’Brien

you. Thank Great.

Operator

you. Thank

question Our the from Jennings of with Josh Cowen. next comes line

Your line is open.

Joshua Jennings

Ron, taking was What you’re the that expecting for within to been next discussion on are up [indiscernible] the [indiscernible] process fully questions. follow just I has hoping that now? the Thanks that derisked discussion updated steps

Ronald Lloyd

Yes.

processes any also that of we our we're And imagine. we're the their perspective, pleased it as recall, production thorough did based It with there very -- screening for FDA as relates or from was, a the no that again our So no on XXXs. results. FiberCel. Form to inspection the Again, of Again, deviations pleased you the was review. inspection noted for again, as cause would

also call, want that go the a good have regulatory as to feel again, mentioned during in the industry and based beyond requirements we regulatory But standards. that to that. very So standpoint, continue on from we've we processes we

relates make testing to is at it for continuous So continue to And through and pathogens it new of set as donor for potentially screening products. as additional to think standard to I we're going improvement as adjustments to industry the it a our products. these this again, relates to goal category again, look relates

Joshua Jennings

[Question Indiscernible]

Ronald Lloyd

Yes.

we as product within category out, with our don't we product Viable we partnerships. So But Matrix continued growth any our specific are necessarily Bone and area. mentioned, pleased break again, the through

in important building to second the from We I in continue a to see diversified standpoint regenerative it's are company diversity. that back and it's think here medical outcomes well. year. diversity we remember But receiving of remember of And I that advancing has company, our patients as the go again, we served important take implantable step a benefit devices. This think half us to the a

back on during the from the even we diversity. think growth to a procedures, perspective surgical If exhibited company our despite actually due pandemic, you COVID impact

opportunity is forward, diversified portfolio. have here, as benefit And think a build so we about to you again, off the the going of

with and continued partnerships, viable manufacturing. growth through our So within we as our contract mentioned, CanGaroo, we those bone drive again, anticipate to other SimpliDerm products, again,

a So opportunity diversity half we're off second the really we for the here again perspective. year the that excited build this company from of about have

Joshua Jennings

then And when when taking last would then questions. expect one and advisory reconstruction, for committee Great. expected? and on is the question [indiscernible] [indiscernible] reschedule when on receive the you for any approvals And Thank that that do SimpliDerm update you

Ronald Lloyd

excited implants Sure. This momentum in first we're publication actually here in the with SimpliDerm. the safe Yes, our study, leader about the we're that and market of from with of second series quarter, And effective. product looked at that And was published on product, SimpliDerm our June. the about than this was received in building versus a we SimpliDerm XXX continued we more patients showed category. this

in the domain, leader, again, public have to excellent the out happened against efficacy. great which already peer-to-peer to able benefits in back awarded of showing this article contract seeing the able this March. again were study, already we're on and that June, our from And up to safety based accounts we we're just in it's beginning market first being And publication. add So Trust leverage of Health some now the also additional again,

SimpliDerm sell added distributors helped also versus that's we so momentum. three build network. then We QX. more And product a predominately And our distributor for us in the regional through

then more having collectively, the I contracting expand access us the help into business. so through additional will distributors, accounts and think further again publication, And

the relates little workshop. bring it And that As to hear workshop. has a host for But their forth getting with them COVID preoccupied for date here FDA yet a activities. workshop, we're and we bit anxious FDA and been have to to still that the

dermis So for we human about to reconstruction. have breast of tissue chance a talk the opportunity

still this workshop point, that for scheduled. we're at be to waiting So

Joshua Jennings

Understood. Thanks for the all updates.

Operator

Thank you.

Our comes the line next with question Truist. from Rescott David of

line Your open. is

David Rescott

July Thanks Hi, provide guys. not in I assume the there some been a taking guidance quarter the surgeons? any we've be September. August impact commentary sequentially, commentary the from or fourth for appreciate impact an does of of could gave has any in reason and around to or questions. or sure you our kind in or seen guide that I'm the previously? recall how if significant the thinking the procedures helpful? of just on shouldn't discuss supported has QX historical here you But not there's I color about going FiberCel growth to similar we month there fourth of And on had be impacted not that guess surgical quarter would trends whether some is be the maybe

Matthew Ferguson

Matt. Hi, that. to David. speak This is to try I'll

products procedures the COVID about steady pretty in see generally July even has And of far Delta as a country. days procedure So And increased into August speaks used we, but here, as think but month-to-month, so I of it generally hold steady pretty August the the and the in. we that our to hold if fluctuation went course, we've through nature concerns trends seen are we some around few well. sales trends business just always saw and

So out about concerns obviously face increasing are we're hoping be variant. case the continues the of in that there to that even the

comments being that far. about procedures little in a and We but some heard affected curtailed large elective by some not geographies, so us bit has anecdotal have more really

will in went and to the the question that suspended, we visibility a we of still other were that sales of us just quarter FiberCel think will part had and that. why we're what And through the that one resume. hopeful first but think don't third growth reason really for limited into of do driver because until contribution happen that's around guidance and the the with that lack QX, that We no our second that expected they year. see There's your event. if we'll doubt the was in quarter of just after quarter of happens the to the I that

other growth other We CanGaroo As all trajectory. of to from growth call of of the Ron in ourselves the, for orthobiologics and there for quarter, we to that products temporary us, and led on definitely terms were pack it, growth continuing are been viable this the in addition important levers of sequential business I impact lines. really basis our had focused you and about, sales setback other that quarterly driving growth a our will in exclude heard can on of if Except dials business overall. turn FiberCel feel important the of think here. a FiberCel. We see suspension we're that from good about past the always us, And you and talked product both bone be for the as already

David Rescott

that's quarter they expanded from a Okay, on guess margins, year-over-year higher level. and here Thank you. on the I more helpful. maybe

really expectations the going Now forward the business company do the type invest interested the here, the to the touch FiberCel of you're you that Just how the and kind maybe previously kind the impacted company level gross forward of out half growth maybe I that is tuck-in could about any high of had? M&A? or a how in all in either or of you. year, thinking operating ability whether that's the for on guess and impacting the not recall at Thank of business for from pause of impacts margins second the

Matthew Ferguson

Yes.

to expect gross remarks do the we continue will So the in mentioned gross through of move improve margins, in we as as terms year. of that the call, I prepared margins

to So a points by on least there's of X going we as I fourth that year. X were certainly. room the at about XX% grow quarter well at in after that and this up QX or GAAP basis see And

do inventory making we're more incurring and helping necessary. that and I we've our to product scheduling that some the we'll the that think much then sure continue is is we technology And focusing things at appropriately excess the managing and out. driving build and are looked so far, growth so, charges on really more also just and so obsolete are intently than mix

point Some steady legal kind those, but of say early From quarter. near have of that tough $X roughly we on some sort of an an would the the to associated most but costs administrative for of and area on opportunities next that's the there a costs of put what think additional we're And some over million I'd broadly of in well. expense we'll continuing that that's third and or kind term. And extra it's or recall the but planning with in quarters, that. so I see stages, operating of in the will things areas number time. But long a we It's I in expect business with other helpful. pretty dealing the in as keep couple are view, don't

David Rescott

our questions. Thanks taking Okay. for

Operator

you. Thank

Folkes Brandon Cantor Our next line with of from Fitzgerald. question comes the

Your line is open.

Brandon Folkes

additional this And very talk just for you to partnerships. in seeing much. currently? on new about just taking terms firstly Thank a questions. bring or potential options color to market, environment seeking going can Hi. decide you not Medtronic my you secondly, Any your alone? you're the then partner thinking product FiberCel. this Thanks Maybe of in talked back Should about of

Ronald Lloyd

it's Yes, the a of as think we Viable Bone Brandon. products that portfolio off Sure, all built business, Matrix of platform. about

place of a partners. have FiberCel Medtronic was and of our across Obviously variety it currently of and number products, one a scope So we large a of size was with partnership. the in Medtronic, partnerships which of

the about again, Medtronic assigning resume, already makes of through if continue couple will so us to take But partnerships do of backfill in as partners would Medtronic, to I some terms magnitude the to for to that so. and a scope And and look of of think business we're additional discussions in volume. level mentioned, to with it decision given backfill not will probably size again, partners. we that And additional

the additional what in off out future. We forward new opportunity pursue the we'll sign to platform And have that that's products partnerships. these going bring to

Operator

not will to turn showing Ron I to in the over Thank back queue. questions for further call remarks. like you. closing the I'm any now

Ronald Lloyd

Great. Thank you.

about Just in the we excited range of confidence our opportunities remains Aziyo that on and in and focused future. have the team closing, greatest have, the

want So with everybody. continued I that, have for to your Thank thank you you, great a in day. Aziyo interest and

Operator

This you concludes participation. today's your call. conference for Thank

You may now disconnect.

Elutia (ELUT) 10 Aug 212021 Q2 Earnings call transcript