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EzFill Holdings, Inc.
3/16/2023
Greetings. Welcome to Easy Fill Holdings fourth quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, John McNamara. Sir, you may begin.
Thanks. Welcome and thank you for joining us today for the EZFIL 2022 fourth quarter and full year financial results conference call. With us today for management are Mike McConnell, Chief Executive Officer, and Art Levine, Chief Financial Officer. Before we begin, as usual, we would remind everyone that certain matters discussed on today's call or answers that may be provided to questions may constitute forward-looking statements as defined under federal securities laws. Words such as may, should, projects, expects, intends, plans, believes, anticipates, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. These statements are subject to numerous conditions, many of which are beyond the control of the company, including those set forth in the risk factors section of the company's annual report on Form 10-K, filed with the SEC, Copies of these documents are available on the SEC's website as well as on the company's website. I would now, with that, actual results may differ materially from those expressed or implied by such forward-looking statements. The company undertakes no obligation to update these statements for revisions or changes after the date of this call, except as required by law. And I'd now like to turn the call over to Mike McConnell, CEO. Go ahead, Mike.
Thanks, John. Good afternoon, everyone. Thank you for joining us today to review our 2022 quarter and full year financial results. As we noted in our press release, which we issued a short while ago, 2022 was Easyfield's first full calendar year as a public company. At the end of 2021, with one full operating quarter under our belt, we had about a dozen trucks that we serviced out of one location in Miami, and we had about 15 fleet customers that we were generating approximately $3.5 million in annual revenue. more than half of which came from one customer. Today, we're very pleased to report that after our first full year of operating results as a public company, we can point to significant growth in most of the key metrics investors look for in small growing companies. We increased our revenue by 108% from $7.2 million to $15 million. That revenue has spread much more widely across more than 100 fleet accounts, and other customers that we service with 40 trucks operating out of five locations across Florida. As previously announced in January and February, we added 19 new fleet accounts. Our customer base is as diverse as you would expect in a large state like Florida, ranging from small moving companies and pet grooming companies to one of the nation's largest retail grocers. Most recently, we also announced a three-year extension of our agreement with the organizers of the Miami Formula One Grand Prix. We expect to see the fleet account number continue to grow as the EZBuild brand becomes more widely known and respected. We're focused on improving margins throughout a combination of higher average pricing for existing and new customers and improved driver and fuel purchasing cost efficiency. We're also looking into the sale of other types of fuels that have higher margins. We will continue to look for opportunities to add innovative solutions, leverage our technology to generate additional sources of revenue from other than fuel arising out of the trend to on-demand services and supported with careful and focused investments in marketing. This will likely involve strategic partnerships with other companies that have complementary products. There's no doubt that we operate in a competitive environment, but with a $20 billion in growing fueling market in Florida, we believe there's plenty of room to grow in our home state in the short term. We will continue and evaluate opportunities to expand out of the state later in 2023. With that, I'll let Arthur walk you through the financial results. Go ahead, Arthur.
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