NV5 Global, Inc.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss NV5's financial results for the full year ended December 31st, 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 full year 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 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 in today's earnings release and on the company's website at www.nv5.com. Please note that unless otherwise stated, all references to fourth quarter 2022 comparisons are being made against the fourth quarter of 2021, and any references to full year 2022 comparisons are being made to full year 2021. In this presentation, NV5 has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities and Exchange Act of 1934 as amended. The non-GAAP financial measures included in this presentation are adjusted earnings per share and adjusted EBITDA. NB5 provides non-GAAP financial measures to supplement GAAP measures as they provide additional insight into NB5's financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and not in accordance with 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 ND5 to those used by peer companies. A webcast replay of this call and its accompanying presentation are also available via the link provided in today's youth release and on the investor section of the company's website. We will begin the call with comments from Dickerson Wright, Chairman and CEO of NV5, before turning the call over to Edward Kodaspody, Chief Financial Officer, for a review of the full year 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 welcome to everyone joining us on the call. I would like to turn your attention to the investor deck we will be using for our discussion today. which can be found on our investor website. So let's begin by going to page five of the deck, which summarizes our successful calendar year 2022. We generated 11% growth in gross revenues despite the historic acceleration of interest rates throughout the year. For example, federal fund interest rates were less than 1% in January to now over 4% in December of 2022. This increase had an impact on the portion of our businesses that is interest rate dependent, namely real estate transaction services, which support portfolio transactions, as well as our municipal service sector. In spite of these increases in rates, we still experience a 5% organic growth across the other segments of our businesses. We are particularly pleased with the all-time growth and profitability of our geospatial service vertical. We're also pleased with the intercompany services sold between all of our 105 offices obtaining over $37 million in contracted sales business across the platform for 2022. We're very optimistic for 2023. We anticipate an increase in organic growth, particularly from our high EBITDA services and geospatial and utility services. We also anticipate our best year to date in mergers and acquisition activity in 2023. Our organic growth in 2023 will be supported by strong backlog entering the new year. Therefore, we anticipate organic growth to be 6% to 9% for 2023. Now let's turn to page 6. I would like to report the acquisitions we made in 2022, which strengthened our platform to allow for increased growth in 2023. River City Testing supports our current construction quality assurance, or TIC, platform in Southern California and reinforces our services to a large client base in Riverside, San Bernardino, and Orange Counties. The acquisitions of KMK, and Intrepid Engineering further supports our building technology and energy conservation services, as well as giving NE5 a high profile to the hospitality industry, which expanded audio and visual services in the year. The acquisition of G01 in the summer of 2022 allowed us to provide geospatial services to more Southwest utilities, providing services that support the utility grid stabilization, as well as mitigate the wildfire risk for providers of energy. As I mentioned earlier, our M&A activity in 2023 is at a record pace, having announced three acquisitions to date. As our service verticals mature, we can be more selective in our acquisition targets. We have the luxury of selecting high EBITDA or organic growth companies that support our current offerings. For example, we feel there is an opportunity for to grow our owner's representation services. So let's turn to slide seven. As you can see, we have made an acquisition in this space in Q1 2023. Diversified Consulting Solutions specialize in representing education facilities in the Mountain West region. We anticipate further acquisitions in the space in 2023. We are also very excited about the large geospatial services acquisition that we have done this year. On page 8, the L3Harris Geospatial Division is a subscription-based revenue providing service to government and commercial clients. With this acquisition, NV5 has acquired 16 patents and other well-known analytical products. This service is provided by approximately 150 employees serving 500,000 global users. Also, as you know, NV5 has wanted to structure the analytics portion of our geospatial services to a subscription-based lease service model from a one-time sales mode. The acquisition of L3Harris geospatial component facilitates this endeavor. The Axiom geospatial acquisition aligns very well with our existing geospatial business. It adds further defense and intelligence clients and further aligns with our software-based initiatives. Axiom has 340 employees and over 200 proprietary tools for mapping and aerial surveying. We are excited about this acquisition as it dovetails and supports our existing geospatial services. It would be good to review the progression of MD5 in growing our geospatial data solutions business. On slide 9, you will readily see our entrance into this service line with the acquisitions of SkyScene in 2017 and our recent acquisitions of Beltree Harris Geospatial and Axum. This progression now makes MD5 the leading provider of geospatial data solutions. We're excited about the growth opportunities for 2023. There's an increasing demand for infrastructure improvements as the population grows. Although there's an increased demand for energy, it must be delivered in a clean and efficient way. The concern over global warming, increased focus on defense, energy distribution, and alternative energy production have all caused an increase in the demand for the services that NB5 provides. We are further encouraged for 2023 based upon our ever-increasing backlog, which is now approximately 800 million and reflects only work we intend to do in 2023. You'll notice on slide 11 that the backlog entering 2023 includes some key wins that are referenced on the right side of the page. I will now hand the presentation over to our CFO at co-discipline to provide an overview of our full-year 2022 performance.