NV5 Global, Inc.

Ladies and gentlemen, good afternoon and thank you for participating in today's conference call to discuss NV5's financial results for the first quarter 2024, ended March 30th, 2024. Joining us today are Dickerson Wright, Executive Chairman of NV5, Edward Kodispody, CFO of NV5, Alex Hockman, CEO of NV5 Infrastructure, Ben Harad, CEO of NV5 Buildings and Technology, Dan Levine, President Geospatial at 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 2024 earnings call. Before we proceed, I would like to notify all participants that today's presentation can be found on IR.NB5.com and 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 in 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 2024 comparison are being made against the first quarter of 2023. 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. NV5 provides non-GAAP financial measures to supplement GAAP measures as they provide additional insight into NV5's 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 its accompanying presentation will also be available via the link provided in today's news release and on the Investors section of the company's website. You may also find today's presentation, which will be referenced during this call, on the Investors section of the company's website. We will begin the call with comments from Dickerson Wright, Executive Chairman of NB5, before turning the call over to Edward Kodispody, Chief Financial Officer, for a review of the first quarter 2024 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 for joining our call today. We're off to a great start in 2024. We are pleased to report that the first quarter results reflected strong organic growth, profitability, and increased cash flow. Our infrastructure group, the largest segment of NV5, delivered strong growth in the quarter. This was a result of expansion into new geographies and service lines and the adoption of technology to provide accuracy, efficiency, and services over wider geographies. The second largest segment of NV5 is our geospatial services. Once again, they produce double-digit organic growth and EBITDA of over 20%. We have expanded their services to departments of transportation and utilities to not only increase geospatial growth, but allow Indy5 to have complementary technical additions to the traditional services provided. Our buildings and technology group has become the leading provider of engineering services for data centers. We have teamed with computing chip and software providers to support the tremendous growth of data centers, particularly international operations, for Western clients. The clients have committed to investing an average of $300 billion in USD each year over the next five years to address the AI and data center demands. The growing demand for energy has pressured the existing utility delivery grid, and NP5 has been asked to provide engineering service and technical support to provide greater efficiency in the energy delivery model. NP5 is well known in the space. In fact, we know of no other firm doing as much work in this area. We'll speak later of acquisitions completed in quarter one of 2024 that will densify our international footprint and technology, densify our infrastructure group, and create a greater nexus of synergy of our geospatial group for our traditional Department of Transportation services. Let's turn to page 5 in the presentation deck that you have been furnished that will document the quarter 124 achievements of MB5. You will see that we've experienced organic growth of 8% for quarter 124. Our total growth exceeded quarter 123 by 16%, and our gross profits were 18% greater than Q123. Another important metric is cash flow. Our cash flow from operations improved 73% in the quarter versus quarter 1-23. Our growth was a result of the expansion of our data center services and our DOT and infrastructure growth initiatives, all of which have created a bridge for our geospatial offerings. We entered new high growth areas in all verticals, and we identified our existing platform through acquisitions of three key segments of our business. Please turn to slide six. As you can see, our very conservative backlog, which represents a rolling going forward for the next 12 months, increased from $802 million in Q123 to $838 million in Q124. This backlog includes awards of note, including $65 million in the Department of Transportation Services, $13 million in data center wins, $23 million in infrastructure awards, and $13 million in utility service wins. Please turn to slide seven where we can speak of actual accomplishments as we create the nexus of technology and engineering to deliver faster and more comprehensive services to our clients. We have highlighted on this page five areas where this technology can be increasingly applied. I spoke earlier of data center and mission critical services that we are currently providing to all the major technology clients. We have teamed with suppliers of chips and software, of which many are familiar names, as we provide engineering, commissioning, IT, and MEP energy delivery services to this market. NP5 has been the leader in improving the sustainable infrastructure delivery. We have been a major contributor in developing the Envision Standard, along with digital twin and VIMS services to provide a better delivery of infrastructure needs. The demand for more electrical power delivery has increased dramatically worldwide. NP5 has addressed this need through tech enabled and engineering services referred reference on this page. Dan Levine will speak more specifically later in the presentation on geospatial data and software to improve delivery of our services. There continues to be increased demand for clean energy and decarbonization, and NV5 has addressed this on this page. We will make specific presentations in each of these segments. So let's begin with infrastructure. Alec Hopman, our CEO of infrastructure, will speak of our accomplishments in the infrastructure segment. Alex, please go ahead.