Via Renewables, Inc.

Good morning, ladies and gentlemen. Welcome to the Via Renewables, Inc. first quarter 2022 earnings conference call. My name is Kyle, and I'll be your operator for today. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded for replay purposes, and this call will be posted on Via Renewables, Inc.' 's website. I would now like to turn the conference over to Mr. Stephen Rabelais with VIA Renewables, Inc. Please go ahead.

Thank you. Good morning and welcome to VIA Renewables' first quarter 2022 earnings call. This call is also being broadcast via webcast, which can be located in the investor relations section of our website at viarenewables.com. With us today for management is our CEO, Keith Maxwell, and our CFO, Mike Barajas. Please note that today's discussion may contain forward-looking statements. which are based on assumptions that we believe to be reasonable as of this date. Actual results may differ materially. We urge everyone to review the safe harbor statement and yesterday's earnings release, as well as the risk factors in our SEC filings. We undertake no obligation to update these statements as a result of future events, except as required by law. In addition, we will refer to both GAAP and non-GAAP financial measures. For information regarding our non-GAAP financial measures and reconciliation to the most directly comparable GAAP measures, please refer to yesterday's earnings release. With that, I'll turn the call over to Keith Maxwell, our CEO.

Thank you, Stephen. I want to welcome everyone to today's earnings call. I'll begin by providing a summary of results for the first quarter, and then our CFO, Mike Brawhouse, will provide more details on the financials. In the first quarter, we have we reported an adjusted EBITDA of $10.8 million. Although our RCE count has grown since first quarter of 2021, we have both higher power and gas volumes. The decrease in the gross margin year over year is attributed to the rising commodity prices, which have compressed our margins since last year. The decrease can also be attributed to the increased acquisition spend as we ramp up our organic sales channel. In 2022, VIA is focused on growth. We aim to have our organic sales channels ramped up in the coming year, and we're exploring new product offerings such as a surge protection plan in Texas, which is looking to expand into other states, and smart home systems, which has been received very well. Additionally, our attrition has decreased in comparison to the first quarter of 2021. As always, we continue to evaluate potential tuck-in acquisition opportunities and will continue to do such as opportunities arise. Our goal is to grow our book and drive long-term sustainable value for our shareholders. That concludes my prepared remarks, and now I'll turn the call over to Mike for his financial review. Mike?