Quest Resource Holding Corporation

Good day, and welcome to the Quest Resource Holding Corporation fourth quarter and year-end 2021 earnings conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Joey Nguyen, Investor Relations. Please go ahead, sir.

Thank you, Cody, and thank you, everyone, for joining us on today's call. Before we begin, I'd like to remind everyone that this conference call may contain predictions, estimates, and other forward-looking statements regarding future events or future performance of Quest. Use of words like anticipate, project, estimate, expect, intend, believe, and other similar expressions are intended to identify those forward-looking statements. Such forward-looking statements are based on Quest's current expectations, estimates, projections, beliefs, and assumptions, and involve significant risks and uncertainties. Actual events of Quest results could differ materially from those discussed in the forward-looking statements as a result of various factors which are discussed in greater detail in Quest filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on such statements and to consult your SEC filings for additional risk and uncertainties. Quest forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so. In addition, in this call, we may include industry and market data and other statistical information, as well as Quest observation and views about industry conditions and developments. The data and information are based on Quest estimates, independent publications, government publications, and reports by market research firms and other sources. Although Quest believes these sources are reliable and the data and other information are accurate, We caution that Quest has not independently verified the reliability of the sources or the accuracy of the information. Certain non-GAAP financial measures will be discussed during this call. These non-GAAP measures are used by management to make strategic decisions, forecast future results, and evaluate the company's current performance. Management believes the presentation of these non-GAAP financial measures is useful to investors' understanding and assessment of the company's ongoing core operations and prospects for the future. Unless it is otherwise stated, it should be assumed that any financials discussed in this call will be on a non-GAAP basis. Full reconciliations of non-GAAP to GAAP financial measures are included in today's earnings release. With all that said, I'll now turn the call over to Ray Hatch, President and CEO. Ray?

Thank you, Joe, and thanks, everyone, for your interest in Quest. We had a great fourth quarter and a strong finish to the year. For the year, we reached a milestone in profitability for the company. We had an adjusted EBITDA above $10 million for the first time. During 2021, we also delivered accelerated organic growth. Overall, we grew gross profit dollars by more than 50%. The growth in gross profit and EBITDA was driven by strength across our business from existing customers through new customers and via acquisitions. Our growth was split 60-40 between organic and acquisitions, with organic being the larger of the two drivers. Over the last few years, our strength has been in our client relationships, and we see that as our core strength. We have continued to grow with our existing clients, adding services, geographies, and also waste streams to help them address their diversion issues. And at the end of 2020 and during 2021, we saw a significant incremental contribution from new clients. The step-up change in adding new clients is a very positive development for our company and should provide future growth opportunities for us in the years to come as we further penetrate these accounts. We had a lot of activity in the recent quarters, and I'm excited to give you an update on the progress. But before I go into that, I'm going to turn the call over to Lori Latham, our Chief Financial Officer, to review the financials. Lori?