Spark Power Group Inc.

Good day, ladies and gentlemen, and welcome to the Spark Power Corp investor call and webcast. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Richard Perry, CFO at Spark Power. Sir, the floor is yours.

Good morning, and welcome to our 2022 first quarter conference call. I am joined today by Spark Power's President and CEO, Richard Jackson, Chief Investment Officer, Eric Waxman, and Tom Duncan, Chief Operating Officer. Rich Jackson will begin the morning with remarks on Q1 business highlights, and I will follow with a financial review of the first quarter. We will then have our usual Q&A session. Before we commence the review, I would remind you that our presentation contains certain forward-looking statements that are based on current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. Further information identifying risks, uncertainties, and assumptions, and additional information on certain non-IFRS measures referred to in this call can be found in disclosure documents filed by the company with the securities regulatory authorities and available on CDAR.com. Further, these forward-looking statements are made as of the date of this call, and except as expressly required by applicable law, SPARC Power assumes no obligation to publicly update or revise any forward-looking statement, whether a result of new information, future events, or otherwise. With that, I will turn the call over to SPARC's President and CEO, Rich Jackson, for his opening comments.

Thanks, Richard. Good morning and welcome to SPARK's 2022 first quarter earnings conference call. Thank you for taking the time to join us this morning. While SPARK continues to face significant macro level headwinds in Q1, we achieved record quarterly revenue and as expected, we are seeing early signs of margin recovery coupled with continued strong demand for our services. Our teams continue to manage tightly through the final stages of the pandemic, the impacts of rapidly rising inflation and the company's capital structure. all while transitioning the company into an integrated platform. I'm grateful to all of our stakeholders for the continued patience and confidence you have in our team. As always, I want to thank our employees for their strong perseverance through unprecedented times. We certainly have a great team. SPARC is in a strategic transition moving from our beginnings into a mature, integrated, and predictable organization. When I jumped into the CEO seat, one of my priorities was to continue to invest in leadership and attracting experienced leaders to support me in this transition and to lead Spark through the maturity curve. I am focused on ensuring we have the right people in the right roles and the right leaders who have the right mix of professional experience to deliver on our operational strategy and creative approaches to deliver premium solutions for our customers. In Q1, I was pleased to bring on April Curry, as our new Vice President of Sales and Marketing. April is working hard to commercialize Spark and to set a very intentional and more enhanced go-to-market strategy for the company. John Krill also joined us to lead the SparkPower Canadian operations. In his capacity, John oversees our Canadian business units and the execution of service delivery and ultimate P&L experience for the organization. April and John come to Spark with significant industry experience and they, along with other members of my team, are set to move Spark forward. Indeed, our entire senior leadership team has been completely revamped in just the last nine months. Speaking of sales and marketing, in Q1, we launched several new commercialization initiatives to bring scalability, operational efficiency, and predictability to our organization. Some of these initiatives include a refinement of our target market and segmentation, critical reviews of our services offering, pricing standardization and management, developing a fully integrated and standardized sales team, and ultimately national account management programs. In Q1, we were also pleased by the successful closing of our rights offering and the combined $39.6 million of equity financing primarily from the founders and our three new institutional investors. The success of this funding really speaks to the vote of confidence our institutional investors have in SPARC and the legacy we are building. The injection of this additional capital will be used to execute on our operational strategy with a focus on scalability and expansion opportunities. I'd like to highlight that in Q1, there was continued momentum around the integration of our acquired companies under the OneSpark operating platform. Project Darwin is on track for a phased rollout throughout 2022 and will change the way Spark conducts its business operations, delivering key business process standardization and improvements across every level of our enterprise, from field data collection right through to billings. Through this business process and system integration, we anticipate being able to deliver a stronger, more value-based and consistent customer experience. The launch of Project Darwin will allow us to function cohesively as one Spark. As part of the integration of the business, Spark also expects to complete a final organizational integration in its technical services and renewable segments, bringing the organization into a common management structure. The company will continue to operate a regional organizational structure, but the common operating management for both business segments will provide for better efficiencies in workforce management, support of the standardization of key business processes, and the right sizing of the SG&A cost structure and business operations across the operating business unit. In Q1, we began making these changes and expect to have our integrated organization fully in place by the end of 2022. This also includes a streamlining of our head office functions and ensuring that once we have closed out on Project Darwin, we have a very scalable SG&A cost base to support the next growth phase for Spark. As CEO, I'm incredibly proud of the progress and the recovery we have made since last quarter. I'm also very proud to be leading such a resilient team. Achieving record quarterly revenue in Q1 while navigating significant headwinds is an indicator that we are on track to continue our strong record of organic growth. This coupled with our margin improvement activities and continued cost realignment related to integration gives us the right recipe for a robust profitable path forward through the balance of 2022 and beyond. And to be clear, we intend to grow profitably and sustainably and not grow for the sake of growth. I will now turn the call over to Spark CFO, Richard Perry to share our Q1 financial results. Richard.