6/23/2022

speaker
Operator
Conference Operator

Greetings, and welcome to VIEW, Inc.' 's first quarter 2022 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Samuel Meehan, Head of Investor Relations at VIEW. Thank you. You may begin.

speaker
Samuel Meehan
Head of Investor Relations

Good morning, everyone, and welcome to VIEW's Q1 2022 earnings call. I'm Samuel Meehan, head of investor relations at VIEW. I'm here with Dr. Raul Mopori, our CEO, and Amy Reeves, our CFO. Before we begin, I'd like to remind you that ahead of the market open today, VIEW issued a press release announcing its Q1 2022 financial results. You may access this press release in the investor relations section of VIEW.com. As today's discussion includes forward-looking statements, please refer to our press release for a discussion of factors that could cause the company's actual performance to differ materially from those forward-looking statements. I would also like to remind you that during the call, we will discuss certain non-GAAP measures related to views performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in the press release. Rao, over to you.

speaker
Dr. Raul Mopori
CEO

Thank you, Samuel, and thank you all for joining us for View's earnings call this morning. A couple weeks ago, we reported our full year 2021 financial results, which included strong year-over-year revenue growth of 125%. On that earnings call, we mentioned that we would conclude the company's financial restatement with the completion of our filings. I'm pleased to say that the financial restatement is done and that chapter is closed. When we file our Q1 2022 10Q following today's earnings release, we will be current with our financials and VUE will regain compliance with NASDAQ listing requirements. For Q1 2022, we're pleased to report revenues of $17 million, which represents more than 70% year-over-year growth. I'm extremely proud of our team and their focus on continuing to build the business over the past year. This team's ability to execute is demonstrated by 125% year-over-year growth in 2021, followed by more than 70% year-over-year growth in Q1 2022. What's more notable is not just the growth in revenue, but the customers and the type of market-making projects that we've acquired. Let me cover a few notable examples. Sorrento Gateway, a San Diego life science project under development by Health Peak Properties in conjunction with project management advisors. This is our third life science development with Health Peak Properties, following campus-wide installations at the Boardwalk and upcoming installations at Callen Ridge and Torrey Pines. The view is also selected to be featured in The Eight, a 25-story commercial office tower in Bellevue, Washington. The Eight is being built and developed by Skanska, a global construction and development firm committed to sustainable buildings. In the quarter, we announced a second major win in Bellevue, Washington. with View Smart Windows being selected for the ARTIS, a 600,000-square-foot office building that has been pre-leased to Amazon. The ARTIS is a Schnitzer West third project with View, following Denver's The Current River North and Civica Cherry Creek. In multifamily, we announced a partnership with Neighbor, and View was selected to be installed in their first building, Sofa 1, in San Jose. Neighbor is a consumer-first housing company co-founded by world-renowned architect Bjarke Ingels. All Neighbor homes will feature ViewSmart windows, and the Neighbor developments will utilize View's cloud-connected smart building network. Finally, in multifamily, we completed the installation of ViewSmart windows at Sven, a 67-story luxury skyscraper in Long Island City by the Durst organization. Sven is the tallest residential building in North America to feature smart windows. To summarize, Q1 2022 was a great quarter with strong top-line growth, notable new wins, including major buildings with repeat customers, and some notable wins for the first time with new customers. With that, I'll hand it over to Amy to cover the financials. Amy, over to you.

Disclaimer

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