Earnings call transcript Q4 2022

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Operator

Good afternoon, everyone, and thank you for participating in today's conference call to discuss NV5's financial results for the Full Year Ended December 31, 2022.

Joining us today are Dickerson Wright, Chairman and CEO of NV5; Edward Codispoti, CFO of NV5; and Richard Tong, Executive Vice President and General Counsel at NV5. I would now like to turn the call over to Richard Tong.

Richard Tong

Thank you, operator. Welcome everyone to NV5's Full Year 2022 Earnings Call.

would statements remind business about performance. I discussion that and proceed, forward-looking contains the we like everyone to today's financial Before company's future are are expectations uncertainties. These management's risks to and and on based subject current that statements included reports these on Factors materially with the and presentation are cause to in actual differ could SEC. from slides file today's our results

has full at in XXXX During Exchange XXXX share year XXXX www.nvX.com. earnings Act full measures to provide XXXX the non-GAAP non-GAAP between the GAAP reconciliation being be financial year NVX's non-GAAP Regulation included presentation discussed. this measures presentation, A on unless measures certain to into in that in to call, are GAAP supplement financial defined note The adjusted being EBITDA. In financial quarter to they of and fourth comparisons and is Please and promulgated per as against this today's under available Securities this otherwise additional non-GAAP company's references and provides financial G of release financial fourth reference as adjusted the website results. comparisons measures NVX included will all NVX made earnings as insight amended. two and the stated, are quarter measures XXX. made are

and measures have in not are accordance isolation not should GAAP. or in non-GAAP However, substitute considered limitations as and analytical be a for tools

via company's provided presentation call measures companies A and accompanying Investors news used differently, companies. compare ability on non-GAAP by today's the limits are its website. those this of also link may measures and replay investors other to in non-GAAP define of webcast In section release NVX addition, to which the the of of available the peer

please then results. Financial provide Chairman the of will of we before XXXX Edward the full Chief and We open comments year go with before Dickerson your call the ahead. to call call with NVX, Codispoti, Dickerson for CEO over Dickerson, a Officer, turning the to Wright, closing from Wright comments questions. will begin review

Dickerson Wright

Thank I which turn you, our website. will attention deck everyone be for welcome today, discussion us found joining to investor to like we on the the call. And investor our your can to be Richard. on using would

to let's deck of begin calendar So rates by in successful revenues generated X despite summarizes XXXX. year. our of throughout the XX% acceleration the going We historic page gross which year the growth interest

example, of impact than rate municipal XXXX. in For over fund transactions as services our January, support portion X% portfolio real X% sector. service of federal to estate as that well on less December the is businesses an which our transaction were had increase interest now namely interest rates in This dependent,

in we our segments In still spite the of rates, these businesses. X% experienced across of other growth organic increases a

Geospatial pleased growth sold with of particularly services are offices, and our We of and our anticipate utility vertical. the platform between organic all contracted We're for from our We're profitability with service Geospatial obtaining services EBITDA growth, business optimistic also We pleased $XX all-time million intercompany over high particularly XXX increase services. the across XXXX. for in in sales very in an XXXX. the

anticipate also mergers best XXXX. and We acquisition activity year-to-date in our in

organic be new by entering we to strong growth Therefore, for year. be supported will in organic backlog XXXX. anticipate X% Our XXXX the to X% growth

or our acquisitions TIC X. in and to allow the California turn our supports Intrepid we City which in giving Quality hospitality page platform [inaudible] building current in assurance Southern acquisitions well profile our further audio energy to The high to XXXX. the River supports Now, as for visual increased like in and any the a Engineering I San large reinforces of platform client expanded as our conservation year. Bernardino services would services Testing and base and to Riverside, and growth counties. Construction strengthen let's technology services, XXXX industry Orange which to in KMK made report

The more utility acquisition risk stabilization mitigate the allowed utilities, of GEOX that providers in to southwest for Geospatial summer as the grid energy. support services as providing well provide of the us XXXX to wildfire of services

As in earlier, announced XXXX our I acquisitions pace, three is record M&A to at mentioned activity a having date.

As we in targets. be more our mature, acquisition service verticals selective can our

high We growth have current organic support the luxury for EBITDA offerings. our that of companies selecting

services. we is feel an our grow there representation to For opportunity example, further owners

let's to So turn slide X.

the anticipate see, QX the diversified We in an made acquisition we specialize in space education space this consulting have XXXX, XXXX. Mountain in in can you further in region. acquisitions As West representing facilities solutions in

has our with structure clients serving We NVX acquisition analytics analytical Division It portion providing acquisition is Geospatial wanted know, XX further as Geospatial software mode. are and commercial users. With aligns well revenue Geospatial Also, X, Geospatial very acquisition initiatives. The a XXX based model services services to XXX,XXX our The LXHARRIS done lead a also of facilitates page LXHARRIS acquisition, have we Geospatial approximately employees, adds further year. service onetime very excited Axim NVX component existing well-known of products. Geospatial based with subscription based a and that clients. global government acquired the defense to other and patents by about endeavor. this sales you subscription provided business. intelligence our aligns service to this the from has the is and On large This service this

employees proprietary and over aerial tools survey. for XXX mapping has and XXX Axim

XXXX our and solutions NVX readily it our an excited as the of X, our for opportunities in Axim. our for acquisitions LXHARRIS about XXXX. This NVX now We're you recent growth service the Skyscene demand services. Geospatial We into entrance There's of progression slide geospatial makes dovetails will grows. acquisitions in review the geospatial and of infrastructure as with line would to On the solutions. are It geospatial increasing provider data population about see this leading improvements existing progression this be good business. excited and acquisition data growing supports the of

energy delivered an for way. demand efficient demand all be and provides. energy production have increased in warming, must for in the an increase increased it that defense, and clean on concern a services NVX caused there's alternative focus The the a global of distribution energy, Although,

are for based $XXX We increasing only which upon and now do our in we reflects backlog, XXXX approximately to intend work further million ever is encouraged XXXX.

CFO, You'll the full slide provide right hand wins XXXX page. notice Codispoti on XX an over I on backlog of referenced will overview to the includes key of the some the year performance. to entering that are now that XXXX our our Edward presentation side

Edward Codispoti

afternoon, Thank you, everyone. and good Dickerson,

financial to the of please turn XX our presentation, you would If slide XXXX I'll review results.

$XXX.X income increased XX% increased XXXX. $XXX.X million to Net to in $XX in compared compared to million revenues million in million, to $XX.X gross XXXX. X% Our XXXX,

XXXX from million increased adjusted Our in XXXX. million $XXX.X X% EBITDA $XXX.X in to

GAAP earnings million to increase. were to increased GAAP our $X.XX cost, note in that per related of It's share in impacted earnings $X.X diluted per related per Our a to and X% per to share consideration contingent important XXXX fees. by professional of from which share $X.XX $X XXXX, diluted share related $X.X acquisition million million

in $X.X million million was incurred the the quarter. cost, fourth related $X.X of Of acquisition

flows tax operations from XX, to change the earnings the to adjusted expenses $X.XX increased It's research per cash On from instead $XX for the required in tax and X% you $X.XX during that were be Our law slide our million. share development year per in and that XXXX. noting XXXX of share per at see in can incurred. worth was there amortized deducted that capitalized year a purposes this year in share

These we expenses a did that not of payments, are we $X.X tax these As related not in rather million a pay to of R&D to paid once previous matter result, tax year. all periods. timing but across additional at the have

leverage was hand of we to end compared as at the had of XXXX. on under million line credit and was X.Xx of X.Xx the our to of Cash $XX.X end capacity our XXXX. down $XXX million of net Moreover,

flows, Our net leverage strong lower healthy future for to position, us cash well opportunities complete it as transactions position us arise. growth balance as larger allows sheet and

Dickerson some it back closing over for turn now to comments. I'll

Dickerson Wright

Ed. you, Thank

is outlook bright. Our for XXXX

and growth, share $X.XX mergers per million adjusted key and per $X.XX growth. setting and guidance guidance share acquisitions, at is $X.XX. of set our therefore You is $X.XX We, will EPS slide that revenues. support factors at our to three $XXX notice to million earnings optimism. XX GAAP on margin $XXX to in Organic set guidance are

Operator

[Operator Instructions]

ROTH Our first question line with of MKM. will come Martin Jeff from the

Jeff Martin

business. afternoon, quarter? consensus guys. I contracts in Revenue didn't bit. down wanted some good to so. or there have you come transactions saw either were areas on the some Hey, or other below probably thought But QX that a the come would million in you estate delays that drill about real you $XX headwinds in where Obviously, was

Dickerson Wright

that the consider who one we above five want just was, to Yes, the is is that that Jeff. of significantly analyst maybe consensus, an on there correct, the analyst analysts. we comment was outlaw other I had

expected. than that So kind was higher brought of the consensus

you we However, consensus, use if the the above analyst consensus. were Bloomberg actually

So a a our the had rates. and a in of transactional good that field we the poor which, real very really funds. increase business. before, That the I tax the of see which The the stream, and more what rate you in drop headwinds by that mentioned in used quarter. reoccurring federal say significant We like the experience you're matter but estate transaction interest I a had service highest in it's that does business did at. interest is impacted concerning is business, of not rates was the X.X% X% highly looking real the It's not in a we fourth XX%, know, revenue interest was significant that interest we've as did it's normally rates. mentioning using comments

some delayed those Geospatial project moved half were XXXX. And over our to the that first which business, projects recovering. were funding of into you'll had also just We in of were see because that delays

under very of you compiled depending which our quarter was either or a but all frame reference good of was we had on So year, made analyst things use expectations. above those fourth us

Jeff Martin

thank two then question. Okay, questions that. you other my part from for And

of acquisitions, kind for the of the guiding First second is, in that up the is revenue And the guidance part namely and DSI at XX% midpoint, recent of what over assumption guidance, question Axim? included you're is, terms XXXX. in the

to the at that of is Just be the look somewhere looking impact But EBITDA EPS growth would your that this you it closer imagine midpoint what an Thanks. expense hits revenue like? of would XX% I year. obviously adjusted got growth guide. interest

Dickerson Wright

to first can mention comments, exact concerning Ed is he I'll mention the and ones nature. other certainly sitting and some next some me

you think for course, First, the those share about adjusted. the year earnings share our count I or increase GAAP by to XXX,XXX count And count. increase need share at down look are we of a larger share in spread that's I you think earnings per the so consider when over

we're and a consideration the days. LXHARRIS into there knowing, mention more concluding is what XX approval, take far as we But comments. revenue have from which and the expect to that not is we of the revenue, estimate don't As another in gross waiting acquisition. can told the know I'm we maybe baked government had really acquisition, revenue from expect of that I'll we when just But we've in on what rough coming

then more which will approval, government we expect be Axim approval. which from get we And acquisition, revenue the did get was definitive [inaudible] did we

And so rate on contemplated run from base. their to be was that March revenue annual roughly

when made impact it's So bit we have may to we to But the approval. because of we've really could difficult the going you for Ed, and in have is, acquisitions that other government revenue what acquisition guidance, revenue. look little the a some can date, do to comments. be start that to, be that in of we definitive the

Edward Codispoti

of some The were March, to just really the LXHARRIS digits then that's in color that. layering add on more Dick Jeff, assumptions for think year. acquisition guidance, second in, Axim the half in I as organic sometime the and mid-single said, then and to the

what and there. we EBITDA anticipate on would question Your

you $XXX $XXX we EBITDA next somewhere in XXXX. million be year. of expect had know, million As We between to and would adjusted million $XXX

Operator

Securities. of from CJS Your line the next Moore Chris with comes question

Chris Moore

was estate transactions, guys. afternoon, you me, questions. kind on revenue you're good of that the for at ‘XX generated of couple versus the and taking there real remind ‘XX in a looking Hey, Thanks how Can ‘XX.

Dickerson Wright

the I real Ed comment this, front the two interest year. has showing a in sectors XX% shows let on budget The from that on what I'll portfolio are Okay, revenue. of he they're in say the in those roughly last for had estate rate, businesses, him though. can depending of we degradation ‘XX budget

we had we had a So were growth, degradation organic budget, but number in on in to the overcome our sequentially. Ed the where XX% they specific has

Edward Codispoti

think that idea, last had GRS I ‘XX, end million of Chris, or in about an December. was recall, to the bit, little you week so the acquired you a literally, XXXX we give $XX.X Yes, just it was at very if

and far combined or that for when so XXXX. we're And That’s year, million. million Block $XX.X combine as we QX. over were & those in already of so, a forecasting what about we're $XX forecasting XXXX, GRS revenues in Clark next X% already And as saw some decline

And so think you be look ‘XX decline. at year that'll when versus full X% a we ‘XX, the about

they'll decline $XX has range. maybe the guidance mid that be in that into already. So been million factored And our

And so a overall X% whole, XX% have did than of as although the less the of business, that headwinds, business, part represents or it about those so.

Chris Moore

once deals us on Axim, a And timing in is Perfect. LX leverage you look those give what like I sense know the of uncertain close? can helpful. Very terms and but will

Edward Codispoti

one, did as know, Absolutely. that And you to with Axim, yesterday. actually, close respect

the is And of international is the one bag. are regulatory one still approval that some is LXHARRIS. that in and to those So subject

into So as that we're said. the I factoring half, second

you X.Xx and with down net that's going X.Xx pay leverage, to yearend, like Xx Axim, about be GAMO X.X as or with so. we leverage. So in course, then of net to we'd now about on And will were maybe we to that Axim, as depending go said will forward, projects With of of time. what then, know, at over terms earlier

guidance of very tailwind you think to we've a be leverage consider $X.XX would of all we available is off to of basically on we and leveraged EPS, those that that that once other about of we've pay a meaningful about, words, would got down think I there's it you given, convert that talked that just us incremental in thing terms that the that about acquisitions, when to note debt. interest pay $X.XX debt as be we two if If sense. share. In net can makes expense that earnings if we've that per part top the that

Operator

line Street the from comes of Rob Lake question Brown with next Your Capital Markets.

Rob Brown

just afternoon. on to I good Hi, your comments up business. LXHARRIS follow wanted the

a of it all I said subscription? -- that their that it's work? think how presume I you And Is of as sort grows, revenue subscription does it's. business. And

Dickerson Wright

don't Geospatial work on they true acquisition any the services. do Well,

their And of their is are of work contracts, based, most most based. basically software good, is portion of So revenue revenue analytics, There is majority that that units some price subscription reoccurring. it's that's very but and of it our the on side has we with It two business, segments. why which clubs mapping, analytic the the measurements, existing And Geospatial. side think traditional clients existing has nicely that we it we our deepwater software Geospatial to acquisition support of well-known some flying over, of in I'm patents side clients, comments, mostly notice in and concluding my and analytics to the we mention geospatial mostly and they're did The the present side. services. LXHARRIS but hope only that that software doing will analytic, you'll using the I'll of XX get be to, them is some the really the to we're not going doing the that

Rob Brown

being talked in pipeline ‘XX. And great. you then the active about Okay, M&A

Is You've of it imply closed coming there's size kind to is already. the that year? -- this number acquisitions additional

Dickerson Wright

my hate this We're opportunities. rings number giving be always right now acquisitive longer I and we're age, but business, the in and ongoing to phone we the have of a showing

the support we core of energy acquisitions the business. our are in are supports Some businesses, we representation in mostly now, efficiency diligence, some will and calling front a business we platform that business acquisitions look, acquisitions most and but we due us for, are sheets is right but that in be platform. owners really but what in specific existing will would I think service utility our we've based, the one submitted term not growing of what And see in

I but think one acquisitions of we announced yesterday, smaller those mostly acquisitions.

Operator

Your next line from Wittmann question the with Andy will of come Baird.

Andy Wittmann

Oh, great, thanks.

I rates if about try growth it's to little X Sorry, side the want rate. and here I total some the growth the just you the your a on suggest If would are But revenue you're X% bit I X% organic look, growth understand doing so. to rate, math getting guidance to with or here. to just acquisitions organic XX guess, better

playing from to $XX Is I that's So your am acquisitions acquisitions? that X%, that and seem number you Does million acquisitive embedded the right guidance? X% in number missing $XX revenue. about get growth the of like the or million Or something? for two those right

Edward Codispoti

Andy, in We very targeting. that's what terms itself, guidance is X%. is of X%. doesn't do more, It it's closer think the to to possible the the is low organic to mean and the closer the that end midpoint we're but midpoint,

Andy Wittmann

of organic The X%. sorry. I'm guidance midpoint is

Edward Codispoti

Yes, yes. that's correct,

Andy Wittmann

then? comment of the in X% was what XXXX, so Okay,

Edward Codispoti

more. target X%. is of that closer our a for to as a is the end given That's range high midpoint striving we've goes the guidance company, we're The five,

Dickerson Wright

Hoping to than be more successful that.

Edward Codispoti

Exactly.

Dickerson Wright

we're than We're to very guidance be. hope but hope that at that. we to X%, you what optimistic Ed gave we better giving do

Andy Wittmann

Okay, given rate quarterly if explicitly got Maybe kind don't just and up with run and deals expense? lot these it is us closing, could you've in are just EPS, places what which you recognizing out number get, Ed, that could closed that got maybe, put wind there. help adjusted we you the that are in of it. of And then embedded can if rates different a that moving have just interest interest

it'd think to helpful be everybody I get for the page. on same

Edward Codispoti

when LXHARRIS it so case makes, Like place the one later and can but these of be said, on. close. that deals Axim, the obviously, rates to days, what that also but going are on yesterday, be it's and we know can would It these In over vary. you all dependent closed

or We're say factoring that, expense. we're year. X% when affect depending for in overall and place, about falls leverage of on shy Andy, into interest. that would could full just million $XX.X the interest so the So I that

aware and I'm on you're top this, on facility changing is of If the that SOFR an to X% but X.XX% rate. of go to then current rate sure so X.Xx soon, is we top based. leverage, LIBOR idea, We'll be it's LIBOR based to give And but our of it's our over LIBOR rate. LIBOR you

X% in rate the Does somewhere be changes we'll factoring So we're what in. help? that

Andy Wittmann

yes. Yes, it does,

Edward Codispoti

I gave good. okay, the,

Andy Wittmann

credit that’s Yes, this for borrowing is And pretty no, attractive a plus in actually a industry. LIBOR clearly. totally XXX facility

is that helpful. So actually

appreciate I the last sensitive rate guess the So just my that. interest on I question parts of Then business. is

was real I there it if know the real prepared You or that business. besides interest transaction business maybe estate I is. heard quantified rate is services don't the sensitive. don't I remarks, the In what another right, understand that just estate business

I think services. And quoted said talk $XX maybe be in the in a XXXX? that, piece size or I that guess municipal you bit of? business million attached could there Ed revenue of more about you is we included that was that Was to of that little that? that aware another the should

Dickerson Wright

within buried included, services was outsource that the It me business. But that around become the the is what business No, rate all dependent interest we building for municipalities is the actual infrastructure departments let our where is country. municipal and small explain. itself is. or Why services that

their know, depends revenue will on you As building permits.

are Our interest fees permit. permits there's on go because less the many of that building as obviously, many, up, are less rates based there's housing. rates. percentage interest There's on building a things dependent less And

in revenue can be pay so us. and permits permits they building building from impacted be residential, they commercial which by they the they are will or So but get impacted

you to portfolio, quantify, mentioned. So a add if probably businesses look at our segments under million. were about of of that Ed all business, which $XX But but the that little it's or $XX the harder to transactional the that piece businesses bit would somewhere you business, million it's

Operator

Bank will line question with America. from next of Michael come of the Your Feniger

Michael Feniger

organic other that mentioned what in organic estate I energy, this with flag than just transaction? more outlook, questions, Yes, XXXX? thanks get beyond digit that mid-single sense The like any guess would being just portion just back utilities, you clean taking real I'm growth my verticals municipal are growth trying is that are slowing grid, X% the in a to for holding there infrastructure, everyone. the you

Dickerson Wright

gave understand, in of erosion rest those that some and midpoint when erosion But Well, you to I X%. an the the to overcome have business to I have the you have Michael, sectors. was you the company, existing of the think grow you of

that But tremendously So being in the areas I only real our are in the mentioned. interest we are our effective conservative rates that that. business, are ones

construction geospatial concluding a my And are other going in of verticals growing representation significantly. in call more comments we we speak we're double owners on business. And to businesses significant we expect little bit some is Our growing and our represent digits, that business at growth facility our the tremendously what is forward our in on our which very But And the speaking has Hockman most in that look be engineering been in on in business, we're increase will efficiency Alex our to then also growth business dependent interest here and ever core just has business. in energy that. and impacted the the which not rates. international the most,

We have other verticals.

very the We those just business growing overcome to of have some well. sensitive interest rate All is of businesses.

Michael Feniger

in and scale the any margin than you're ranges more to benefit get when businesses overcoming, the growth be the are trying you profitability EBITDA is of they why thinking we higher there the the margins, of look provided, there why sense we there? of mix that ‘XX, terms see from we based on a I guess wouldn't should at I'm in just core? And

Dickerson Wright

questions how me let more profitable Okay, verticals than depends could. Obviously, and those of they're others I there, some measured. your if on are unpack it

of lot requires Geospatial equipment. Our a business

a EBITDA So true that's business.

business, Our and intensive. or other not core as capital business engineering intensive our services are segments equipment

have that were profitability by you ‘XX interest overall, of our not that of services higher rate. that. But estate client of in expect business one will see would that base our that are of than of business, I increase measure the as services shows or would on see our one way number dependent businesses kind that we to like operation. not in on in profitability of a transaction probably was you to different of the the higher end affected in some say having an EBITDA any the existing for that provided contribution we us, verticals And However, strategy real the

Michael Feniger

really count lastly, there we're you sure XX% Great. of number the And And we that parts see. about modeling the all I did you Just like of ‘XX? try when as share for cash mean, to was make how that Ed, guys thinking a conversion right. moving be we from that should we do flow? just cash to about everyone. the good from ops ‘XX kind think think Thanks, for is

Edward Codispoti

You're welcome. Yes, on the XX,XXX,XXX share count, when we would look at next in model year’s so. share outstanding. around I or

know, was there should As there, it XX,XXX,XXX. was XXXX, I'm question. That sorry, And idea. you another give you for an what was

Michael Feniger

the It just think some you – cash was flow. What on most the do of

Edward Codispoti

we're between I and way $XXX $XXX EBITDA adding, somewhere on Well, And $XXX EBITDA our going next ’XX. million, we've our it modeled is year, Yes, million cash million was be range, these million into $XXX in to the with the flow. adjusted was going EBITDA to it’s the mentioned range. acquisitions, earlier, as that

EBITDA. for should projected So stay pretty we increase see a significant adjusted CapEx consistent.

And so just a cash expect but cash type a cash down. ops per capital had it in when flow flows that, that bringing se, to at from number a Not from looking perspective that I working to And perspective, was improve. we addition issue. from timing would

from the year, about ops in are we yes, cash going ’XX very next sorry. So, growth into optimistic

Operator

question of line Your the from Chris with comes Singular next Sakai Research.

David Marsh

Hi, Dave. for I'm in

economic and of recession? is happens into your type What a slip what we guidance environment on if two predicated Just questions.

Dickerson Wright

question. Well, very good

portion not most our Obviously, to have economy, interest infrastructure rates. a dependent always But have which supporting our we our be speak. is business small business business on structured so to profitable of subject is a labor. very of that has We the to business

supporting population. have services. And so through about comes we increased That

in use are billion, these facilities, of drink all that the at need go macro drive, grow know, are still need still water, for need go clean still supported roads to you bridges, population And ever look to they $X to the things they a the will need safe. by they population for people to As increasing. as still things, but to

So our really economic cycles. not business dependent is on

good we transactional we're real to And We at overall, because have support think solid growth services we are services of our heard, tremendous cycles. as tailwinds structured But really economic that business business. in have very our that a mandated from expecting our budget dependent not you area. back and is not on estate some

David Marsh

than is Can EBITDA? and you that? on comment then Okay, faster growing why the revenue

Dickerson Wright

faster revenue in I Why is I'll an very yes, of bit speak the profitable. on we're growing which EBITDA, certainly love more Geospatial businesses I is mean, a mean, profitable, those, I little our EBITDA? is the business, growing and pieces more portion we dependent is is more but really as more it said, the growth that on that, amortization. increase EBITDA, I and as DA of an depends it services the of in have see that depreciation the But you on, are profitable.

Operator

line Sidoti. with of Your next Mark the will come from Riddick question

Mark Riddick

evening. good Hi,

that about are opportunities. the cross things So past in wondering, of servicing and talked was the the some we one selling I of

you what we should goal what a at that how new If bring as coming speed historically. or wonder looking goal you've if to could on might maybe I and into of specific know in. sort had Just your there's maybe thoughts if layer up are a to us acquisitions that be there's the that

Dickerson Wright

selling Mark, Well, like our been to well. I say that has doing cross very very,

think I contract. realize But over about a week. this revenue know be $XX the in everyone want $XXX,XXX total life for that total out per of our which turns I for contracted million to is and revenue that goal is to year, to

closing and and will I first XXXX, Axim go a cross we at to very for thing We earnings cross our revenue offices with And the idea. the in that that's the and we that have. in of delivered services also love a I'll by brand lot network that selling. that have promote strongly the we and duplication services, or mention but selling actually contributions tomorrow but promote look really looked comments. we we folks my There's a in not call and common between

didn't that concentrate We in we XX is deck. it have and It's it no, than have I say really investor no on, selling that this contributes then we done didn’t that year. the want to goal had XXXX. being other to cross the reason specific to is But work that there's million. But for the higher think on it on revenue

Mark Riddick

investment you great. bit if are of a How around the before options acquisitions, aside concerns in about add to you given Okay, needs personnel need like. wonder recessionary year putting of may I could any to the any organic it your should as see talk there also sort that you a vis-à-vis technology. goal And the then there thoughts headcount Is or or Thanks. have if updates ahead? we little about or sort thinking the you talent be spend

Dickerson Wright

that's and very reason have organically on sponsored think to it's in good that that grow in question going I'm good growing we, touch operations the comments. concluding Mark, an that a initiatives in But we question in the the which a growth, Well, organic our corporate is supports I the corporation business. a initiative our number really will such of

on by specific issue, always and something have our enhancing having we've recruiting that. that we Attrition an we're always is So things it's going addressed staff.

we if a vast a are our unit the dedicated utility obviously majority have of person, don't just price services a and We person, we based have that business recruiter for the basis billable because our on fees have revenue. won't

a So that concern. is

addressing we're think I it.

would then pick in little the but that growth So budget the a mention and how like revenue our our I'll works. And they it's have do they to we and grow operation will we them that operations without that can a have bit and three and the is corporation to we initiatives research twofold. how or is comments, stand four or we year. budget effect so that XX any works year. by itself. the existing development and support on that of protecting And and we get that and concluding initiatives XX a have business support the One for can until

had comments and that on be XXXX. we're both services important our to an some things gives Hockman is that. yes, in new mention grow So us my Ben we forward Heraud entree we're looking addressing area But of positive competition I'll initiatives separates in into we're from and at that those Alex haven't also, some or attrition looking staffing may us of comment I'm sure will before. and an that concluding the But

what our comments. that in on that's doing that touch see I initiative will you hopefully So those we're concluding and mentioned

Operator

our this over would now question turn for like Wright the back remarks. to answer session. I time, call this concludes At and Mr. to closing

Dickerson Wright

you, Thank operator.

positive First, and who with year. those when pleased I very to our participated this results. XXXX in we full very the year We're for have call pleased that. today thank to reported would like listening a economic environment We're everyone in

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we're will Alex? XXXX report that So things what forward looking anticipates some Alex on of in and he Hockman to. the

Alex Hockman

going that on Thank we I to I'm highlight you, think Dickerson. the areas potential group. just growth our three which business core comment within have

with first services The by business our comprehensive services led is utility our design utility unit. our and

utilities' high enhancing continue electricity while means grid. the and in owned of see reliable a more We create to desire safe delivering to growth investor

undergrounding fire storm eliminating required to vehicle additional allows addition will system and EV In electrification of the is to hardening and be the benefits, impact charging stations. for handle for another demands safety occurrence improvements that feature

of NVX construction. that conception from is benefits design and team we services the through the provide of consulting One

of water. this an capture cycles Earlier of engineering executive increased see two order opportunities source for resilience. services. We issued $X.X California is past build water more stormwater and to budget water has than water for area Governor the billion a increased Another committed as supply. runoff month, resources California's And in

to mandated and from of the flooding, to covers extreme requirements. seen have meet full a group We water resources range services our drought

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opportunity that, successful having with Dick. you, for XXXX. So we see great very Thank a

Dickerson Wright

doing and the are in that some And times services. work many building Alex. we the mentioned we've of Thanks, doing we're technical work also, international

on in from to Heraud, areas and a will who of view the to expect done these forward runs those XXXX. and work of what we're So XXXX manage I've groups, some that asked be those groups and looking highlights Ben give in we

So Ben. go ahead,

Ben Heraud

Dick. Thanks, Yes.

to organic and last continues vertical growth. on buildings Our technology year's bode

exciting us. have many ahead We opportunities of

through a Our a ability sectors. our market number to master from support clients in increased cycle, operations, every phase life planning buildings share of in has of

our I highlights into we're this wanted We growth such share. specific seeing a sales set just seeing continue. other and group higher sectors had leaders as XXXX, record technology hospitality. in remain of year are services to to market In and education Some

US, active consultants Greece. have Canada, Spain Rock projects and we're Notably, for Hotels the go and to Hard currently the in

services, very including demand our strong the building Energy in from serve Clean advice growth benefiting electrical organic often analytics, for creating with within for as decarbonization significant forecasting renewables energy policy entry projects XXXX. point on and fleet market NVX. These offerings vehicle efficiency, is other planning, clients, group an we're our in Our services, high and follow

rapidly. streams. the new back setting margin high engineering electrical imaging contracts mechanical, Geospatial expertise and plumbing MEP is BIM for group revenue converging scan to our and This traditional growing of By up with service is building we're Our services, us LiDAR more projects. off recurring

the Our leaders remain back Vantage across and international back operations Equinix contract geographies. Microsoft, wins in mission with multiple recent with sector critical to market

this also benefit semiconductor in industry the gaming pharmaceuticals our positioned already wins well to Thanks, and production, diversification Dick. strategic sectors manufacturing electric very quarter. the in including in are New recovery with further other multiple and resulting We're have confirmed vehicle here. from of battery Macau contracts services

Dickerson Wright

in we What directly and is to a national Department the that. of really XXX that Axim Axim which as on did as a comment was got our firm services, revenue and we touch group on often supply services we with lot Geospatial not of acquisitions platform. acquisition Ben. both tremendous and really much does with want Defense, it's we Geospatial we Thanks, maybe I'd I we of see thought are duplication with as the their of encouraged announced a department joining normal don't significant a the the which acquisition We NVX existing recently. reported mentioned employees today, us have really, previously,

work. service. light. equipment acquisition are that like very and are provide then also the And that they And they They analytics. We others little do using to capital do

Geospatial with leader, the And so that us with with the but mention is in a natural LXHARRIS, America. makes services, fit Axim largest and Axim, Geospatial I'll of acquisition the and with acquisition North the LXHARRIS, for firm NVX it

and existing businesses. business, our pipeline And This tremendous Geospatial And the we really to a has good support to our services. support look a core gas national is other business platform natural at this. our

I to forward A LXHARRIS. really talk we can So announcement looking of are the about little bit that.

is What software service we're we've and entrees days. we are next and had have signed of know, close, they government Defense waiting have services, to purely Department waiting You like will which we to also they XX be in they hope before. that the that agreement, really and never about an approval, aerospace we really analytical

platform And this so think it our support really we will enhance have. and Geospatial they grow will really the

positive very forward high like feel for we acquisitions, area that. two we're a and growth those in look things with we So, that really

results just that have follow once to looking So service. think really to company, those we're activity I And I had XXXX, all thank I this thank XXXX. mention in successful a believed the our and going the everyone XXXX. to to first look invest supporting thought employees. of forward again us. reporting want we increased look of We We I again on to were acquisitions. what speaking of I quarter in to would forward concludes touch you those want but in really the We forward once that to today.

your everyone our thank So will conference. conclude time And today. for this you

Operator

Thank you for all joining.

now disconnect. may You

NV5 Global (NVEE) 23 Feb 232022 Q4 Earnings call transcript