Recent SGBX transcripts
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Stephanie Prince | PCG Advisory |
Paul Galvin | Chairman and Chief Executive Officer |
Gerald Sheeran | Acting Chief Financial Officer |
Good day and welcome to SG Blocks Fourth Quarter and Year-End 2021 Earnings Conference Call and Webcast. Today’s conference call is being recorded. At this time, I would like to turn the conference over to Stephanie Prince of PCG Advisory.
Good afternoon. Thank you all for joining us for the SG Blocks fourth quarter and year-end 2021 earnings call. call and Paul Financial Gerald the Chief Chairman Officer. on Officer Executive Sheeran, me today Galvin, are and With Acting Chief the A was p.m. the detailing market after press X:XX closed company’s at release issued results and the website on today relations company’s now the at available investor is section sgblocks.com. on in well. replay accessed can of of section call conference IR A the this be the website as
company's constitute about made over turn management, please provisions call remarks the on of statements Any the speak not after various the prospects and including call April Harbor to statements Galvin, or purposes conference future SG date, I call does the plans, statements Before that expectations, described any to Paul Paul? filings to Safe for CEO made of forward-looking today's update as that, forward-looking this remember XXXX. the under Blocks differ the over events may the turn to forward-looking With of the Private today's now today. Securities cause subject Litigation statements that Blocks. reflect XX Reform these results call Act intend to actual occur materially of from of only Monday, in cautions XXXX. these to SG SEC. that their uncertainties on those that Blocks with risks indicated, circumstances and are SG I'll risks forward-looking
by shares previous in with years XXXX count, Thank results achieved that while revenue, the we our financial Gerald this We're higher at you, million that subsidiaries Stephanie, Every XX on share we times the historic million proud a the fully higher minutes. basis. reported million XXXX. the of ended will success quarter. metric. an was remains diluted today. XX a for low and review just We in XXXX maintaining for approximately everyone. year growth few two Blocks revenue Thank which than us ago and on year $X its every in hello, quarter joining built SG and the $XX.X you had of
of the turn Now let's to some year. past many highlights the of
capital XXXX, the our increased development COVID $X LAX significantly asset date, reinvesting During generated in will expect tremendously from grown at testing million into of over lab million cash yield that In projects by revenue has then. over quarter, SG and which invested factories of the companies, other we've we our clear Developing flow manufacturing first base projects. we established time. Corp. we since $X.XX To and distributions
We apartments. in unit homes a have XXXX of pipeline excess residential established and
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at Austin, what paid Development Corp. Lago multiples XXXX, for $XX for year million third also us that for manufacture we qualified capital. the third from strategy, we totaled in that our efficient ago. less completed peace having site the our $XX we adequate of year-end, million. mind February cash operating still In clients. quarter, multiple our netted in project We of capital moments. execute million detail Vista sale factories our listed our company of more we have raise inflows, believe it of balances having cash I'll At of has which cash own part while our party fill plans, This is units approximately benefits with reserves. discuss other growth to Texas it SG for few than that this announced that $XX.X expected other a In adequate comes an in that a and With new
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We revenue lot we into CLIA-lab, of development success was from to projects also this As was strategic record cash revenue and of our Since time, asset in which In receives $XX.X of demonstrates cash for our and decision million generated support built flow many contract significantly. very significant a operations. build This shareholders. funded lab our medical on success base made such, segment we've a strategy, a reinvested instead track vertically XXXX, our investments. profitable. completing which partner flow, of the that increased generates the integrated LAX that design the
SG our Block's the with and and does represents system industry, any does and the We medical XX, continue business. of include any This valued had to not future in At testing XX believe projects include point-of-care Development million. to that's on-going medical not of related testing. this projects contract Corp. at that plan services $X.X to construction invest this we SG continue to backlog approximately December under
additional capital bring While to manner. a necessary a the investment, capital have we non-dilutive will our require projects in in plan
of the team As the dilution. of some of management largest aware the acutely shareholders, is issue
the Lago to sell cash and activity in million. There from broker we $XX the far million at balance great is $XX so site Vista on level. the believe priced cash growing the the including interest in and is So at sheet, that strong operations,
$XX from the in to sell million value Altogether, $XX million proceeds In and for to a in price, not Development share support Lago strengths, not the a planning buyback million has are potentially with program the a is addition, in want backlog in which including Blocks. before qualified few we also to sites. we to financials the or this unit And going are exciting million with medical value is Gerald share that's minutes. to assets platform we this opportunities. review sell a to very stake cash flow that segment. in from the We growth $XX investor stake Corp. range. over the SG our $XX think Vista believe But cash a minority XX,XXX year to ahead does fairly say the a initiate planning a fund and that, to we SG have I that
books the an of year expenses Our strongest that being three we're revenue revenue higher growth, in recognize of from another costs, than the year will to streams. the ahead positive ahead To for last growing over looking number provide clean and revenue year. for way and a we pave fourth lingering platform the which the and cash increasing times on strong losses quarter, flow year aggressively for growth
the Ventures for each also Officer. a timing professional Lab in container Chief has began at speed, why actual search a sample We is point with on-board right forward These ease reasons just a of lab, an lab in our are we to is airport. growing SG and the the some and The for houses in and the the vertical windowed Lab based point-of-care The regulations. experienced who about and HIPAA testing Starting lab markets. We to of continually other the LAX a growth. which now CLIA also acts PCR opportunity. for travelers. collection detail. medical multi fully public on antigen experience and look as COVID-XX variety discuss boarding is are and use talent by debt Blocks compliant offers Mobile allows a Financial segment, more company tests of seasoned license recently The future commensurate will both efficiency Clarity equity with excited I
general staff of crew and airlines and Our the as customers airport. the travelers, well as include
a have with relationship several also individual programmatic We airlines.
the are of XXXX, methods, patient XXXXs and Alzheimer's a example, space, interest close patients reinforced has from areas. For increase the in We for areas medical care ordinary Gross revenue. in XXX% lot can the strategic primary for units, cancer their growth allow in lives. opportunities prostate testing will model and inbound to in very proximity, a growth treatment testing plan and meet point care well diagnostic breast, in interest totaled was and be on in elegant We've units business. providers those operating In edge specific revenue courteous $XX.X of lung in million, communities aligning well in our rural this units, excited grow like work to a advanced as and course the profit million wellness This because and where engaged disease. centers, point-of-care as services that of profitable we're best space, as as we therefore $X.X such services dialysis our of space, fielded technologies We've and and units year. base activities belief fit continue urban about cancer, envision be that locations our to this underserved In determine business significant We design believe this dense detection strategy. ourselves the products might with have and that ethics in areas as following. added this the of deployed many modular staff. cutting partners to and specialty decided for our by care
debt delays the Corp. the to wait best and efforts, pipeline and its eventual the because our or Blocks get required in best own Turning projects this this SG time other Development suffer too cancellation party's we'd We would We develop often, the approvals, despite often costing developers to division too equity XXXX to of in and practices QX systems all to SG did for develop money. for sites. us established and
we own to with develop projects the made factories our our fill decision them. So and own
marina. Mary's projects spaces St. costs for Waldron and or interests East Norman new residential for site site as acres we yield and a for January is of we XXX,XXX individual yield a midrise year, ground set $XX Blocks? XXX,XXX does This provide of New the single property square at Barry, marina. Cumberland a as manufacturing yield in projects, feet this First, family the this in property be thousand early including we're per new closed development factory add Texas, residential inlet now Vista, XXX will the mean million. in will real approaching is expect all of DevCo well units of XXX Austin, Atlanta. that space. that square we Point nearly partner will Georgia, sale arriving our units $XX site space. will total special Lago amenity support During began What of factory note listed level, XXXX. estate the guarantees. several debt a over expect is Georgia Oklahoma capacity Please acres McLean for Monticello development have billion. whose unit units, this several a homes. million mezzanine site this site project XXXX townhouse SG this following; over and Oklahoma, and Mews, and SG XX lakefront role XXXX, and equity XXX York in the for broke generate will $X McLean, limited year it XXXX that project XXX renovating revenue. will residential in feet per a units Catskills, XX-acre Durant, is Georgia, being this Oklahoma this activity acquired is we each to financing, it to
for the We to the right $XXX million revenue. manufacture have manufacturing projects, which approximately units these contractual in equates to
projects. proceeds of these gross $XXX from exceed estimate the refinancing to the over or life during of we million assets the sale Additionally,
margin. manufactured asset in any are profits include We they or typically projects plus DevCo at time. from developer fees one are cost SD forecast model, Second, do XX% not as our sales
our our of share fees we unbudgeted fee as and work flow. help cash through time be pipeline, over we which diversify recognized These further streams. to However, do will average represents project revenue an developer will X%,
to hope projects. today in DevCorp residential over manufacturing SG of of has reach We will in XXXX, XXXX these during approximately provide $X.X units As approximately which pipeline. billion the units XX,XXX in the its pipeline life revenue
We are perpetually opportunities. vetting
sales. commercial to Turning
and their be to our high come speed structures of legacy combined by inside Southwest. and that benefit of ability Taco built the third Many expensive, in and these pursue are Bell's cost modular environmentally our of for customers to to clients to sales done with with as for Many like South relocate and We such right continue are quality, also party time value our projects us methods price. overruns, ecosystem. of clients the Most are construction deficient.
Living hospitality, verticals the current them. which lot serves new potential tiny great to largest combined is the approximately include And homes, second million. interest housing next a units, labs for XXX QSR military XX Single Just in they couple we at $X ago, $XX and announced over of date, than and the weeks units, revenue of produce verticals. other We in contract modules. projects The valued homes, quarter. a the treatment all units, is The XX and that and division, of delivery beverage so for we're which high for There project, by this engagement includes months. Mo for confidential in tiny million the activity end many is SG across food blue activity scheduled our to Living, months chip of more Everglades specialty discussions are could believe in that medical units and ECHOs Mo which T most and contract restaurants, with
Now, to manufacturing. turning
open approval for under year a we know, factories a XX% body use manufacturing shipping XXXX started and the At and the were our Construction Council many for Leveraging total As many experience, great in solid the is market in look gross containers year-end, revenue legacy making and representing locations. revenue. contract currently have ESR approximately projects million decade totaled of which International cornerstone years manufacturing forgivable either $X.X SG number, completed manufacturing. of worker retention. these profile. we from for million with our of projects you a USA entered Code to hiring manufacturing X in space have million or with potential in ECHO feet to we construction. team, projects We forward outside infrastructure long Blocks the have and four financed development legacy revenue. all utilizing to SG XX of with direct third loans of engineering revenue Made glad of to our the manufacturing for close a of Several party an for accounted $X.X in after upon remaining P&L inherited our we and We're been square facilities across manufacturing based
they development in that We factories of expect the this important commercial the facility envision asset most opportunities. expected where importantly, that income are also year. will re-financing the provide will generating of be additional steady but third on SGBX company to will asset will second in revenue QX for We generate party significant growth and Blocks eligible and our these be revenue build. they SG additional manufacturing right upon margin It several help to execute projects offsets benefits ways. ownership The depreciation. all and end stabilization, high company attract and contractual operating facilities has to
very these will that only in valuation. attractive Lastly, assets believe are increase we
Taken other. serve very and about our divisions, the all potential together, development, feed commercial we're opportunities which and and excited of manufacturing of the
System. COO, extremely continuing efficient, experts. In We industry recently mobile eco-friendly entity, fully new agreement automated, rendering SG for holder a with we're Environmental our created waste, is technology management units. team our important excited designed formation the to The infrastructure over To the and that perfect out disinfect we we compatible, art support for company health XX-year household to a support Sanitec a partnership the our sustainable are public Sanitec. in management to build meet Waste to patent term have the the expected order now We distribution with review. employee modular of I'll support our to ensure waste disinfected, than recycling interim the this Lastly, projects. executed the our and and plan. partners and new to risk exclusive experienced is our waste growth of And March, Industries, director division to system a capable add Gerald long agreements Corp. to state greater for self-contained, call of market medical continuing Their needs no people quality CFO, announced expansion fit Healthcare sustainable turn very waste, environmentally about three services growth, and and Solutions Disinfection global Sanitec biomedical and for unrecognizable, the shred financial residential a waste. is for Microwave sales. with We're that Gerald?
Thank Paul. you,
$X.X begin XXXX. XXXX to million, the profit fourth Administrative of for the The an quarter. lower a depreciation of expenses the the two expense compensation the XX% expenses goods million. million Revenue fourth non-cash, share to XXX,XXX quarter approximately second of of in for complete share, amortization with related increase $X.X of common cost compared of loss was higher fourth for and a Operating quarter XX% cost per sales expected per compared be year-end or charges. shareholders additional to million $X.XX following XXXX. of in shareholders approximately the the of year-over-year items and the fourth ago fourth expense, in the by chargeback million Let's XX.X% in loss $X.XX adjustments $X.X the $X.X XXXX. stock million decreased non-cash quarter and the negative increased was $X.X quarter net income $X million segment to for compared accrued loss Medical and the year of negative expenses fourth million a common XXXX. Gross to loss XXXX. fourth due XX% compared which to statement. sold, $XXX,XXX dollars quarter $X.X profit for of decrease projects, was to quarter attributed to fourth compared in million in $X.X were net was million, included $X.X end to XXX,XXX charge General a to loss The attributed and of net or quarter quarter are to accrued Gross
accounted and was total increase in For XXXX. the for XXX% XX% segment year construction $X.X XX%. the million, segment revenue million a for revenue, $XX.X compared The medical revenue accounted to of for
turning approximately and that we closed $XX a Blocks $XX.X million. This requirements. continues support includes sheet, to were equity cash $XX.X Total financial will of net XX, structure believe December to near that XX, strong flexible SG and December XXXX. approximately balance proceeds to equivalents company cash million capital we At Now have in had the XXXX. the capital at our term $XX.X from October year-end of at of million compared raise assets million the
liability were strategic of into back totaling lease During company's and $XXX,XXX. the million totaled included XX term projects had approximately call compared deployed XXXX, end outstanding. $XXX,XXX for stock I'll At acquisition both to of $XX.X there to cash of $X.X approximately outstanding included of Paul. XXXX. at the and now investments And turn Shareholders the the $XX.X land note liabilities common been million. and equity million development long the shares one year-end,
launching everyone our made units, And positive working X look feet pipeline to XX the In Ultimately, to to achieve months, a junction, important projects to XX,XXX made including have space. a an our being Thank into the additional and year and every this diversified point. all goal year for believe the initial closer our of approximately last was Gerald. revenue grow strong is development and company of plans has manufacturing on XX momentum and helped XXXX. service we years growth Thank testing to million modules, remarks. for this activating you delivery. ahead. closing, reach to investments with in where USA goals, over first in next quarter. our build non-COVID-XX the who of cusp our cash residential the control over We great This consistent SG XXXX DevCo historic the us forward completes by two year pipeline we're almost every have to lot us our the you, and projects we of from to measure. for ended Thank includes square factories, The means getting That flow our a your of that prepared brought strong to foundation the we're you interest. achieving advancing
questions. have stay with have our calls Please will first management. speaking forward with you sprince great day. at scheduling contact investors safe on For Thank pcgadvisory.com. those We well, Prince mid-May. be to Stephanie again look with a minute XX quarter and Stephanie interested in call Be that at you.
conference you lines This your for your you may wonderful have and concludes Thank participation, this today's day. a and disconnect at time.
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