NV5 Global, Inc.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss NV5's financial results for the first quarter 2022 and at April 2nd, 2022. Joining us today are Dickerson Wright, Chairman and CEO of NV5, Edward Kodaspody, CFO of NV5, and Richard Tong, Executive Vice President and General Counsel at NV5. I would now like to turn the call over to Richard Tong. Thank you, operator.

Welcome, everyone, to NV5's first quarter 2022 earnings call. Before we proceed, I would like to remind everyone that today's discussion contains forward-looking statements about the company's future, business, and financial performance. These are based on management's current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these statements are included in today's presentation slides and in our reports on file with the SEC. During this call, GAAP and non-GAAP financial measures will be discussed. A reconciliation between the two is available on today's earnings release and on the company's website at www.nv5.com. Please note that unless otherwise stated, all references to first quarter 2022 comparisons are being made against the first quarter of 2021. In this presentation, NV5 has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934 as amended. The non-GAAP financial measures included in this presentation are adjusted earnings per share, adjusted EBITDA, and adjusted EBITDA margin. NV5 provides non-GAAP financial measures to supplement GAAP measures as they provide additional insight into NV5 financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance or a substitute for GAAP. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of NV5 to those used by peer companies. A webcast replay of this call, and it's an accompanying presentation, are also available via the link provided in today's user release and on the Investors section of the company's website. We will begin the call with comments from Dickerson Wright, Chairman and CEO of NV5, for turning the call over to Edward Kodispody, Chief Financial Officer, for a review of the first quarter 2022 results. Dickerson Wright will then provide closing comments before we open the call for your questions. Dickerson, please go ahead.

Thank you, Richard, and thank you to everyone that is joining us for today's call. You will notice we provided an investor deck for you to use during the presentation. So now let's turn to slide five on that investor deck, where we will discuss our first quarter 2022 results. Post revenues were $190 million, a 24% increase over the first quarter of 2021. Our adjusted EBITDA was $29 million, a 19% increase over the first quarter of 2021. Adjusted earnings per share was $0.99 per share, a 13% increase over 2021 first quarter. Even though the share count rose from 13.4 million shares in Q1 2021 to 15.2 million shares in Q1 2022. Growth was driven across all verticals of the core business and the geospatial service lines. Although we live in a difficult global environment with wars and the COVID pandemic, we continue to see positive opportunities for growth. NV5 has recorded 683 million backlog with continued strong pipeline of opportunities for organic growth and mergers and acquisition growth. Our cash position and cash flows remain strong. This serves as a safety net in an uncertain macro world and also positions us for the growth through M&A for the year. Turning to page six, we will discuss our quarter one highlights and opportunities for the balance of the year. You will see we highlight growth from our six verticals, which all remain robust. We are seeing exceptionally strong growth in energy efficiency, geospatial services, utility and environmental transaction services, all of which are exceeding our budget projections for 2022. Let's now go to page seven where we will discuss our acquisition activity that has either taken place or opportunities that we see going forward for 2022. During the beginning of quarter one of this year, we completed two strategic acquisitions to strengthen our MEP services and our construction quality and TIC services. Fulton Consulting Engineers further strengthens our MEP or mechanical electrical plumbing engineering and energy efficiency services in the Southwest. River City testing allowed us to further expand our construction quality and TIC services in the Riverside and San Bernardino counties, two of the largest counties in Southern California. We expect to see larger future acquisitions in geospatial and infrastructure in 2022. Our model for acquisition remains the same. Culture, competitive advantage, and a strong history of profitability. On page eight, I would like to briefly mention our backlog growth, which gives a strong indication of the continual growth of the company for 2022. Our backlog grew in quarter one of 2022 by 17% over the same period of quarter one in 2021. Now turning to page nine. As you have heard us mention many times, cross-selling is a major component of our internal organization's growth. Our cross-selling increases inter-office sales between locations through the NV5 network and has been very inclusive for the network. We have increased our cross-selling target for 2022 to $34.3 million for the year from $31.2 million in 2021. We will now transition the presentation to our CFO, Ed Kodaspody, to provide an overview of our first quarter financial performance. Go ahead, Ed.