Good morning, and welcome to the Business Update Conference Call for ConforMIS Inc. My name is Catherine, and I'll be your conference operator today. All lines have been placed on mute to prevent any background noise. After management's remarks, there'll be a question and answer session. This call will include forward-looking statements within the meaning of the federal securities laws, which are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any statements made during this call that are not statements of historical facts should be considered forward-looking. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements, including those discussed in the Risk Factors section of ConforMIS' public filings with the U.S. Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements. ConforMIS disclaims any obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. This conference call will include time-sensitive information and is accurate only as of the live broadcast today, January 6, 2022. I will now turn the call over to Mark Augusti, President and Chief Executive Officer of ConforMIS. Thank you, and welcome everyone. With me today is our CFO, Bob Howe. We appreciate you joining us for an update on ConforMIS. On behalf of everyone at ConforMIS, we hope you're off to a great start to the year. You know, when we held our third quarter earnings call on November third, we said that we anticipated providing a business update in early January, and that's the purpose of this call today. Given the challenges facing the medical community during this pandemic, we did not want to wait until our fourth quarter earnings release, which is planned for March second, to be our next update. In addition, as you will see from our release, we have some other important updates to share. Please consider this business update timing as a special event, not something we plan to do every quarter going forward. I hope you've had a chance to read our press release issued this morning, as it provides an overview of the key topics for this call. I will cover our business update and specifically share additional context and information about our Image-to-Implant Platinum Services program, which we're announcing today. Bob will provide details about our fourth quarter 2021 revenue performance and our initial outlook for 2022. Our product revenue performance improved sequentially from the third quarter. This was done in the face of the COVID-19 Omicron variant, which offset recovery trends from the Delta variant and muted overall elective procedures. Despite the onset of this new variant, our limited market releases on our Identity Imprint knee and our PSI for Stryker Triathlon knee both continue to move forward. Over the last 24 months, we've developed the necessary building blocks to expand our product portfolio and to position the company to capitalize on the ongoing shift to ambulatory surgery centers. Today, we're announcing the next major phase of our strategy. That is the launch of our Image-to-Implant Platinum Services program. Before diving into our new Platinum Services program, I'd like to take a step back and provide some historical context. ConforMIS has been an innovator in the orthopedic industry since its founding in 2004. In particular, we've been a leader in patient-specific products and instrumentation. In 2007, we were the first company to introduce a patient-specific system for partial knee arthroplasty. 2011, we became the first company to offer a fully personalized primary knee solution when we launched iTotal CR, and later with our iTotal PS in 2015. Of course, the innovation we are most known for is that we're the first company to offer the Surgery-in-a-Box™ delivery model, which conserves space, reduces sterilization costs, and improves facility utilization. We believe we have the best knee systems and delivery models on the market. Despite the many advantages of personalizations and the high level of patient satisfaction achieved with our products, we have faced several challenges. First, our lead time is longer than off-the-shelf options. Second, our fully personalized solutions cost more to manufacture than standard implants, sometimes making it difficult to meet the lower price points demanded by a large portion of the market. Third, in the fully personalized model, the lack of additional poly inserts does not offer the level of intraoperative flexibility desired by many surgeons. To address these issues, we announced back in August of 2020 plans to expand the market opportunity by developing our new knee platform. Our Identity Imprint knee system was designed to combine the benefits of our personalized solutions with the convenience and flexibility of an off-the-shelf system. Imprint represents a significant improvement over standard off-the-shelf implant systems since Imprint includes several of the features on our fully personalized knee system. This enabled us to fill a void between the crowded off-the-shelf category and the personalized and the fully personalized category, where we were the only player. So far, the limited market release of Imprint has met our expectations in terms of product performance and overall user experience from both new and existing surgeons. We anticipate advancing to full market release in the first half of 2022, our Imprint system. Given the interest in this system and the confidence we have in its clinical performance, we're announcing that, as of today, our fully personalized iTotal system will only be available to new customers through a new program we are calling our Image-to-Implant Platinum Services program. This program will allow facilities to offer a fully personalized knee system as a deluxe upgrade to their patients. Through this program, we are increasing access to choice by providing a mechanism for physicians and their patients who want a fully personalized solution. Medicare and commercial payers permit patients to pay out of pocket for non-covered deluxe services. Just as patients can pay extra for a private hospital bed or for a premium intraocular lens product, Platinum Services brings a first of its kind premium pricing structure to orthopedics. Based on our market research, we believe that in the long term, potentially a third of knee arthroplasty patients will be willing to pay an out-of-pocket premium for a fully personalized knee implant system. There are four key aspects to our Platinum Services program that we believe will make it a success given today's market dynamics. One, there's no upfront investment or cost to enroll in the upgrade program. Two, surgeons can offer personalization to patients as a shared clinical decision. Three, medical facilities can charge patients an out-of-pocket fee for the Platinum Services program that includes an incremental margin above their cost. Lastly, as part of the upgrade, ConforMIS will now provide patients a five-year limited warranty from the date of their index surgery, underscoring our commitment to both manufacturing quality and superior clinical outcomes. Although this approach is new to orthopedics, it is not new to healthcare, and as I mentioned earlier, is analogous to many well-established medical protocols. This approach addresses the needs of surgeons, facilities, and patients and responds to multiple shifts happening in the orthopedics market. It should be noted that we have commenced working with our existing customers to transition them to the Platinum Services program. We expect that by September 1st, 2022, all of our existing customers will be transitioned to or enrolled in the new model. Based on our conversations with key customers in advance of the launch and the fact there are no costs or commitments to enrollment, we believe utilization will be high. Let me now turn the call over to Bob for some details on our fourth quarter revenue performance and initial 2022 outlook, and then I will review our Platinum Services program in more detail via a prepared slide deck and a few slides therein. Thank you Mark, and good morning everyone. I'd like to first thank our finance team for their hard work over the past several weeks so that we could be in a position to share our preliminary fourth quarter revenue performance and initial 2022 outlook. I'll start with how we did in the fourth quarter. We ended the quarter with $15.3 million in product revenue, which represents an 8% sequential increase from the third quarter and is within the $15 million-$17 million range we discussed on November third. While we are pleased we grew from the third quarter and we are within the expected range, our results were negatively impacted by the rise in COVID-19 cases related to the Omicron variant. This was either directly through elective procedure levels or indirectly through staffing levels across the board. While COVID-19 and its variants have made for another challenging year, we believe we have the right product portfolio and business strategy to return to growth in 2022 and beyond. Please note that the $15.3 million of product revenue is still subject to finalization of our normal year-end closing process and independent audit review. For 2022, we're taking a conservative approach to our initial outlook, and we expect product revenue to be between $60 million and $70 million. The low end of our range assumes COVID-19 pressure on elective procedures at a level similar to what we experienced in 2021, the continuation of medical facility staffing shortages, and manufacturing shipping challenges. The high end of the range assumes sequential improvement in elective procedures beginning in the second quarter, accelerated adoption of the Platinum Services program, and revenue from new surgeons in both our knee and hip business. With that, I'll turn the call back over to Mark. Hey, thanks Bob. Thanks to your team for allowing us to share the information so quickly. I know they put forth a tremendous effort, and it's greatly appreciated. We do anticipate opening up for Q&A from some of our analysts, but before we do that, I thought it'd be helpful to walk through a few slides. They'll be in an updated investor presentation, but in particular, the slides are focused on our new Platinum Services program. Hopefully, people can see the screen. I'm just gonna talk to them. I'm not gonna go through the whole deck, but there's a couple things I wanna point out to help explain our new program. As you can see, obviously the forward-looking statements, please refer to that as you think about ConforMIS. We're, you know, we've talked in the past about the fit and where we are in the industry and our expertise around personalized treatment. What we're excited about with our new Platinum Services program is it's first of a kind in orthopedics. It's a deluxe service program that allows providers to offer patients an out-of-pocket upgrade to fully personalize their implant. The key to this, which I'll talk about, is our Imprint system, 'cause our Imprint system is the base system now, and we now will only make a fully personalized implant system available through the deluxe services upgrade. This addresses the patient trend that's existing all throughout the medical device community with interest in personalization and premium service. In particular and importantly, it's now an opportunity to offer a new service line for both inpatient facilities and ambulatory surgery centers. You know, this evolution really is a natural for us. We started out with a fully personalized system, iTotal Identity. We've spent a decade building, you know, great data, establishing a Surgery-in-a-Box™ model and the efficiency. We developed our Identity Imprint system, as we said, because of the need to offer something that's standard, medically necessary and customary. That allowed us to then actually segregate out the embedded services that are the deluxe piece, which is the fully personalized piece, into our Platinum Services, which is what we're announcing today. We think this model that we have, having a base implant system, the Imprint, and then a deluxe upgrade offering, is very, very consistent and well targeted towards the growing ASC market for the reasons herein. We're uniquely positioned to address this opportunity. Basically, this, you know, plays it out and spells it out in a sense, and I'll get into this a little more. Surgeons can offer this service to their patients as a shared clinical decision. If the patient declines the upgrade, they can get a standard implant. We'll talk a little bit more about that, whether it's an Imprint system or not. We hope it's an Imprint system. It's like I said, there's other analogs we'll talk to you, but ASCs and hospitals can charge for the deluxe non-covered service, which is the premium service they will have contracted with us for to provide a fully personalized premium implant system. As I said, these analogs exist. Those of you may be familiar, some of you may not, but you know, hospitals are allowed to, if they want, to charge for extra for in private room. They're in the intraocular lens market. Medicare covers the base lens. Then they're allowed to charge patients an out-of-pocket fee for a premium intraocular lens, which is basically a lens that offers corrective vision capabilities as well as handles the cataract underlying condition. These analogs exist. We have, we've done some work and looked at the model in the analogs. You know, in the IOL space, about 15% of the patients today have been upgrading. Over 80% of the surgeons actually offer the service. I'll talk a little bit more about the market research we have underlying this in the next slide. We were able, based on our actual data and claims and cleared claims, to actually test this concept, this upgrade concept with patients. We hired a third party well-respected market research firm. They surveyed over 300 patients that were anticipating having to have knee surgery in the next, you know, 12-18 months, thereabout. We tested, we market tested the specific claims we have around patient satisfaction, confidence in the knee, net promoter score, likelihood to recommend, fit and size, all those concepts were tested. The research came back that, roughly speaking, about 30% of the patients were willing to pay $3,000 above and beyond whatever was covered under their insurance for a fully personalized solution. We think that's an incredible market opportunity for us and allows us actually now to capture value for the unique services that we provide, which is a fully customized implant. The other thing that was interesting was to understand, would surgeons offer this? You know, how much interest would surgeons have in offering this? We surveyed 140 orthopedic surgeons. You can see the profiles here on the page. Suffice it to say the punch line here is 20%-50% of the surgeons were willing to offer the Platinum Services program as described, with an end-market price or a patient price in the range of $2,000-$4,000. Obviously, the lower the price, more surgeons were comfortable offering it. At higher prices, it was less. For me personally, I found this very interesting. I was concerned that it might be a little less than this, frankly, to start out. The actual interest from surgeons was actually, I think, very high. We're pretty pleased with this, especially because we're able to actually test the specific program that we're talking about. As a result you know, we put forth some numbers here, and we'll leave it to other people to do their own math. You know, we can't predict how this will roll out and exactly, you know, what the curve will look like in adoption. You know, we estimate that in the near term, we have a serviceable opportunity of $100 million-$200 million or thereabout. I think medium-term timeframe, sort of 4-6 years, it could grow much larger. These are annual numbers. You know, the addressable opportunity, if you just look at it, if you think about 30% of the patients thereabout paying, you know, $2,000-$4,000, I mean, it's a pretty significant opportunity to go after this. This is just the opportunity for total knee arthroplasty. Obviously, this can be extended to hips and to other areas, and we can talk more about that. For right now, the program we're announcing today is specific to total knee arthroplasty. At the end of the day, what is it? It offers patients an out-of-pocket upgrade option to fully personalize their implant. It's a decision they can make in a shared process with their surgeon. Surgeons can offer this to their patients. They don't have to invest in any capital to do it. The facility doesn't have to change their clinical workflow. The only difference is they have to order it and they have to be willing to wait, you know, the time and roughly about six weeks that it takes for us to provide the services and individualize and customize the knee implant for that. In doing so, they're able to collect an out-of-pocket premium for offering this service. We're excited to be able to offer this to our medical facility customers. You know, one of the things we'll have to do with ConforMIS, which we'll do, is we've launched Imprint, which is a data-informed design. We've got all the pieces that people know for ConforMIS, which is the pre-surgical plan, the PSI personalized implant Surgery-in-a-Box™ model. We now have the ability to offer faster lead times, different price points, 'cause we are offering with Imprint a base system that provides all the medically necessary and customary components, but then allows us then to upgrade after that. With that, I'll pause there. There's obviously more slides in the deck that we can refer to. It should be noted that both Imprint and Platinum Services now will be margin accretive to us, so we're looking for margin expansion over, you know, the next few years. That's something and a journey we've been on here at ConforMIS for a while. We obviously do think we have other growth drivers in the sense that we're gonna continue to focus on expanding our hip franchise. We continue to have our private label partnerships that we'll take advantage of. Then we're gonna continue to advance our key R&D projects like the cementless knee and our next hip stem, which we're excited about. Today's announcement, really the focus is on the Platinum Services program, the fact that the Identity Imprint system has set us up for this and positioned us well to win in the ASC. We're excited about the combination offering we have here to go after the ASC. Obviously, we can offer this to inpatient facilities as well, but in particular, we think our focus with our Surgery-in-a-Box and the model that we have will allow us to aggressively target the ASC setting. With that, as you can see, we're evolving the business to meet the market demands. We're excited about the prospects of our Platinum Services program and rolling that out. It is gonna be a transition year for us as we go get new customers and introduce them to Platinum Services, but also as we work with our existing customers to transition them out of the fully personalized solution to Imprint plus Platinum Services as the contracted way going forward. With that, operator I'll pause, and I'm happy to take any questions, if there are any for us. Thank you. To ask a question you need to press star one on your telephone. To withdraw your question, press the pound key. Our first question comes from Josh Jennings with Cowen. Your line is open. Hi. Good morning, Mark and Bob. Thanks for hosting this event and taking the questions. Happy New Year. Thank you Josh. Wanted to a couple, two quick questions just on the Platinum Services program. Seems very interesting. I mean, I think with the margin trajectory that you the med slide, it suggests that ConforMIS will be capturing a premium price for the implant into the centers that are adopting the Platinum Services program. Can you talk about where iTotal pricing goes in this model? Yeah. Clearly, we expect pricing to go up because basically you'll have your standard implant pricing, which will be industry pricing, and it will be, you know, negotiated as we and all the players in the industry do it at arm's length, you know, arrangement with facilities. Then the services piece is incremental cost above that. We'll contract with them. And they'll price it. I can tell you already we have some customers that have done this in limited release, and you know, there's different price points that they're thinking. You know, that range of, you know, $3,000-$5,000 as the end user price is sort of the ranges we're looking. We're gonna have, you know. Then there's gonna be a discussion about the split between ConforMIS and the facility, based on whatever that end user price is. That'll be a volume discussion and whatnot. But that will, in a sense Josh, increase the ASP for the fully customized system, right, on average. That's why the margin will go up there. But it's because we're now able to capture value for the unique service that we provide, which is namely a fully personalized and customized implant, which is frankly, you know, has individual serial number to the patient. That's what we're doing. Thanks. Just a quick follow-up on the surgeon response was intriguing and just curious, any breakdown you can provide just in terms of this, the 140 surgeons that were surveyed and percentage that were iTotal adopters or current ConforMIS customers versus non-ConforMIS customers? Was that kind of a 50/50 split, or was it a majority non-adopters? Just curious to try and read through that demand for or willingness to adopt this. Yeah. No. It was the universe of surgeons, and I don't have the number in front of me, but it was primarily non-ConforMIS users. I mean, there was some ConforMIS users- Okay. It was primarily non-ConforMIS users. Great. Just two quick ones on guidance for 2022. First, I'll just list them out both maybe for you and Bob. Just in terms of any help thinking about the first quarter, you know, you guys were able to hit your guidance range, which was great to see in the fourth quarter despite some of the surges. It seems like this Omicron surge is continuing into January, and there's been some, you know, elective procedure postponement announcements in some states. But any help just thinking, helping us through thinking about the first quarter relative to the full year? And then just for the full year, you mentioned it's a transition year as you're moving to this, introducing this Platinum Services and launching Imprint. I mean how much of an impact is this transition, and how should we be thinking about, you know, your current customer base and the majority of the revenue is coming from iTotal and transitioning over to Platinum Services? Is there any headwind there that you guys are baking into the range? Thanks for taking all the questions, guys. Yeah. Yeah. I'll take the first quarter. I mean, Josh, we're gonna obviously in March, early March, we've got our call, and that's when we're gonna give a little bit more color as you hit. You know, right now we're right in the middle of Omicron. It's a little bit unpredictable, so we want a little extra time to get us a little bit more triangulated on the first quarter. We'll talk to that during that call. Understood. Yeah. I mean, to say that there's no doubt that our industry, I'm not gonna say ConforMIS, you know, specifically alone, but our industry continues to battle through this. As you rightly pointed out, Josh, I mean, you can just read the news and hear about delays and postponements to elective surgery. I'm hoping, we don't know, I mean, you know, but I'm hoping that like in South Africa, the Omicron phenomena will crash as quick as it's peaked here. Right now it's tough to feel that way 'cause you're still in the middle of it. January at the very least is impacted, and we'll provide more color as Bob said in March. As far as our guidance for 2022, you know, we did the best we could in thinking through impacts, both from COVID, the transition that we've announced today. I think it's important to note we're really excited about Imprint and Platinum Services and our ability to go get new customers, and that's what our commercial team is focused on. Not that we're not gonna delight and still service our existing customers, but we wanna go get our new customers. One of the things we've done, and we've been excited about with Imprint is we actually have Imprint on contract, you know, existing pricing at a majority of our revenue already. So our existing customers have access to Imprint. The issue is right now for them, you can think of them as sort of being a little grandfathered here for the next six or nine months. They can also order the fully custom product. The transition for them is a couple things. One, it's about ramping up our inventory of Imprint, but then it's also about, you know, them making the switch and moving away, you know, for these specific surgeons that frankly have been very big supporters of the fully customized product. We do have to manage through that over you know, as we said, the coming months, but we're confident we'll be able to do that, and we're very confident in the performance of our Imprint system. It's of the same design principles as our fully customized product. It feels that way, i t's just standardized. It's standardized to 12 sizes, 12 max femurs and tibias. The real key for us is to grow through acquiring new surgeons, and we have an incredibly exciting story to go after because we now have basically the Imprint system, which is a high quality standard system, in a Surgery-in-a-Box™ model, delivered at a very nice price point. Then on top of that, we can then offer now the Platinum Services program, which is sorta like the cherry on the top to sweeten the program, that allows them to now offer new service lines of business in their medical facilities. We think we've got a great story, great ability to be a business partner with new customers going forward, and that's what we're gonna be focused on. All right. Thank you, Josh. Next question. Thanks a lot. Yep. Thank you. Our next question comes from Steven Lichtman with Oppenheimer and Company. Your line is open. Thank you. Good morning guys. Wondering, as we think about exiting 2022, based on your research, what percent of your business do you think, you know, converts to Imprint versus or stays personalized with the new platform program? And where do you think that mix goes over the next three years, say, based on the survey work and research you've done? Well, some of this is really challenging, right, Steve? Because you can do all the research in the world, but at the end of the day, you gotta figure out exactly what happens. I will tell you that we did survey some of our existing users to understand what percentage of their business we might get going forward with this new lineup of both the standard implant and the upgrade. We're pleased to see that actually, we would end up with a larger market share because what actually was happening was, I don't know how to say this, it gets a little technical, but basically, and again, this is on average, so we have some surgeons that use us all the time, but what we found is that a fair portion of ConforMIS surgeons were using us for specific situations where they felt like it was kind of, let's just say more straightforward cases. Anything they felt presented a little bit of a challenge, they wanted to have those different poly thicknesses, they wanted to have different sizing options, and they just, as surgeons, they just weren't comfortable with, you know, the specific fully personalized solution, which is a shame because the reality is we don't have a problem. It sort of was there. So when we rolled this out to them, they actually felt that they would utilize us a little more. The big thing as well Steve, it's just important is many of our surgeons are operating ASC. They've seen the switch to ASC, so w e were acutely aware of, you know, pricing challenges and different challenges they were asking for, which is one of the reasons why we worked so fast and assiduously to develop the Imprint system because we knew that, you know, as much as we felt the clinical performance of our fully customized system was, the reality is in the different markets they were in, they needed a different price point. They needed a different solution, and that's what Imprint provides. I don't know where it'll land, but your specific question was about our own customers, and I think what we'll see is somewhere probably you know a higher percentage of Imprint, and then they'll have like maybe a 30%-40% utilization of the Platinum Services program. You know, we'll see. I mean, 'cause I think that they'll offer it and that's the uptick that they'll hit. Interestingly, this is the part we don't know, so this is just me talking here, but I could see a scenario where we could partner now with some new surgeons that have never been ConforMIS users, and they may offer Platinum Services and upgrade and have a mix with ConforMIS that is higher towards the fully personalized and do less Imprint just because if the patient declines the upgrade, they'll use whatever their, you know, implant of choice previously had been. I'd like to think they'll use Imprint, but they're not required to, right? Right, Steve? In an interesting scenario, our new customers that are new to ConforMIS, I think we're gonna get plenty of Imprint new customers, but some of the facilities, some of the surgeons within the facility may end up only doing ConforMIS when the patient has requested the fully personalized upgrade. We'll see how that rolls out, and we'll provide more context over the coming years. Okay? Got it. Thanks, Mark. You touched on my second question, wondering for surgeons that offer both, what do you think the messaging will be in terms of their discussions with patients in terms of the offerings? I mean, do you think it could steer toward anatomy-based situations? Or how are you thinking about that for your customers that are gonna offer both? Well, I think for each surgeon right, they have to decide what works for them in their, you know, shared decision-making with their practice and where they're at. There's no doubt that surgeons are busy. They're busy in clinic. They don't wanna get bogged down. They're probably not gonna wanna spend a ton of time, you know, getting bogged down in this. Some of our market research has showed that, you know, the more education we can do with the patients up front, the more they come educated straightforward. We're finding, again, in the few market tests we've done, it's actually a very quick discussion because what we tested in the brochures we have are the specific, you know, claims you have today, which is, look, it's a fully customized implant versus standard, sort of like, you know, an off-the-rack suit versus a fully customized suit. The fully personalized service isn't covered by insurance. I'm happy to do a standard procedure, but if you know, if you wanna upgrade, we offer the upgrade, and here's a brochure on it. It's as simple as that. You know, frankly, they're finding that patients are willing to write a check, cash up front for the non-covered piece, and then they order from us. There's really no financial risk on our facility side as well because the patients are paying in advance for the upgrade. If anybody's ever had cataract surgery and had to discuss whether they're gonna get an upgrade or intraocular lens, the ophthalmologist doesn't really spend a lot of time with you. They talk about that it's available, but then you talk to the scheduler, and they show you the price list, you make a decision. It's the same with teeth whitening. It's any aesthetic surgery. If you're getting anything outside of a functional rhinoplasty and you need anything aesthetically, they have their published price list. The reality is Steven, many surgeons are already, not a ton, like it's not a majority, but many already offer concierge services or offer some cash pay services. Think about stem cells, injections and stuff like that. The beauty of this is we've got really good clinical data and the patients are getting something that has a published clinical history to it and is real. Like they get it. They can see that it's truly a personalized implant, so it resonates well with them. You know, again, it's a long-winded response to your question and part of our challenge will be to get surgeons comfortable. In the early days, it's actually not that big a barrier. I mean, it's not a tough discussion. Okay. Got it. it. Great. Just lastly guys, you know, with the balance sheet, you know, remaining in a solid position, are you seeing opportunities, you know, to you know raise investment on the OpEx side, particularly around the commercial organization? What are your thoughts overall in terms of sort of adding to sales and marketing efforts in 2022? Yeah. We'll probably talk a little bit more about that at the next update around OpEx for the year and stuff. We maintain that, you know, we're fully funded with the cash on balance sheet to get us through break even. We will, you know, obviously be making investments around the launch of Platinum Services and promotion and work that we've done. We've already developed, you know, brochures. I believe hopefully it's happening as of today, we're rebranding and modeling our website, so patients and customers will be able to see, you know, the new lineup, the new evolution of our model going forward. We've got all of that funded. To the extent we have opportunities, you know, potentially to do a little more, we'll look at those and look at the ROI on that and do that. Okay? Great. Great. Thanks Mark. Okay, operator is there any other questions? Yes, we have a question from Kyle Rose with Canaccord. Your line is open. Oh, great. Great. Good morning everyone, and thanks for taking the question. I wonder if we could just, you know, talk a little bit more about, you know, the puts and takes of guidance. I appreciate the commentary about the low end. You know, kind of it's forecasting that, you know, COVID-19 pressures, you know, continue basically the trends out of the Q4. Maybe help us understand, you know, what else is in both the low and the high end there with respect to, you know, mix of Identity versus the Imprint and the Platinum Services as well as, you know, what we're seeing from Stryker. Yeah. I'll start, and I'm sure Mark will add some color Kyle, so t hanks for the question. You know, I would say, you know, obviously there's more focus on the upper end, I think. At the bottom end, fairly straightforward. But on the upper end, you know, it's $12 million of growth, 20%. If I had to put it in big buckets, I'd probably say, you know, just overall market lift to elective procedures is probably in the 30%-40% of that growth. Our Imprint is probably the other big driver, and that's again, probably in that 30%-40% of that total increase. You know, Platinum Services is gonna be, you know, that's a tricky one because it all gets into adoption. We've probably got about 10%-20%. Of the growth coming from that. A little bit of hip and, you know, on the Stryker front, they're still in limited launch, so, you know, we're being conservative there until that gets into full launch. There's really not a lot there. I don't know if Mark wants to add anything, but hopefully that gives you some high level, big buckets of how we get to the upper end of the range. Yeah. Okay. No, that's helpful. But I think the fair way to say it is that, you know, Stryker is relatively upside to these numbers, correct? Yeah, I think that's fair. There's a little bit in there, but not a lot. You know, it's upside. I mean, you know, we would again, I think Bob colored it nice. Obviously to hit the upside, true, we're hoping that there's no material headwinds from further pandemic issues or disruptions and stuff in the second half. You know, let's face it, for the last two years, we've had this freaking crazy winter event in the fourth quarter. Hopefully we won't have that in 2022. You know, who's to say at this point? But anyway, I think Bob outlined the upside, what gets us there. The real tricky thing for us. I feel really good about Imprint and ability under existing customers. I feel like we can get some new customers. It's the whole adoption of Platinum Services. We're very excited about it, but we don't wanna get out over our skis. I think that it'll be you know, probably a little more of a flattish curve as people are you know, are exploring it and getting it into their practice and working it in. But then I do feel like you know, at some point it'll start to pick up. We'll see. Because it just makes sense. It just makes sense for the environment we're in. It's very consistent with what patients want. It's very consistent with where our peaks is going and with surgeons looking to offer, you know, premium services and monetize sort of their practices in a different way, and not just consistently being kicked to do more surgery at, you know, lower fees. The ability to do, you know, offer a service like this, you know, as our market research suggested, I think it's gonna be well received. Just to follow up on that, I appreciate the commentary. Just to follow up on the economics of Platinum Services as it relates to the business. You'll have contracted pricing for, you know, Imprint as it stands, and then you'll have some sort of additional agreement with the facility with respect to profit sharing of that additional services component. Is that what that works? Or you'll have a base rate for the services component, and then you'll share incremental upside as far as how they're pricing the patients? I'm just trying to understand, you know, $2,000-$4,000 is a pretty wide range, right? How much of that is your service fee that you know you're getting versus, you know, you'll capture incremental pricing above some of that potentially? Right. No, that's a great question. The way it works and the way, you know, we're doing it in practice is exactly as you said. First and foremost, there is a separate, you know, contracted price for Imprint, right? The base product. Then there's a separate agreement and contract for the Platinum Services. We price that. There is a price that they buy the service from us, they order it from us. Then they're free to charge it as much as they want. As I alluded to, you know, each market is gonna, you know, offer a different price, and it's up to them. I can imagine Southern California and Southern Florida may feel like they can do a little more of a premium offering than maybe the Midwest or, you know, the Deep South or something. We have those discussions. It's up to the facility to decide so they can, you know. It's not a price that we can't tell them and dictate their price that they sell at, and we're not doing any profit sharing, so to speak, as margin on that. We are selling our services at a price. Frankly, we're not planning to discount it unless we get some serious volume upside. We're gonna have a pretty standard pricing program, and then it's up to the facility to decide how they wanna price it and how much margin they wanna make over that. I'll just leave it at that. Some places, if they decide to mark it up more, will make a bigger margin, but they'll trade off maybe potential patient demand for higher prices. Other places have said, you know, "Actually, I wanna price it, you know, a little less and, you know, to spur demand," because, you know, the margin was fine for them. It's gonna be up to the facilities to decide how much markup they want, Kyle. Great. Thank you very much for taking the questions. Yeah, thank you. Appreciate it. Thank you. Yeah, go ahead. There are no other further questions in the queue. I'd like to turn it back to Mark Augusti for closing remarks. Yeah, no, thanks again for everybody that listened to the call, and thanks to the questioners for those good questions. As I said here at ConforMIS, I wanna thank the team and all the commercial people and development people that have got us to this point with our Imprint-based system, and now being able to do the work to evolve our business model to now where we're still very excited about our fully personalized system, where we offer that as a unique offering. Now we're able to have a go-to-market strategy that allows us to capture value for that while at the same time providing a service that our facility customers can capture value for. We think we've got a great lineup for the ASC. We look forwrd to providing more updates over the quarters as we progress out and roll out the new business model. Thank you, everybody. We appreciate it. Okay operator. This concludes today's conference call. Thank you for participating. You may now disconnect.