Earnings call transcript Q4 2022

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the FG Group Holdings Inc. Fourth Quarter 2022 and Full-Year Earnings Conference Call. [Operator Instructions] Please note this conference is being recorded.

I would now like to turn the call over to Jen Belodeau of IMS Investor Relations. Thank you.

begin. may You

Jennifer Belodeau

welcome for and XX, Group earnings Holdings Good fourth to quarter call the December and conference afternoon, FG full-year XXXX. ended

Mark Todd call Group of and the the from Directors. Roberson, Chairman are Chief of On Kyle Cerminara, Executive Chief Major, today Officer; Board Financial Officer; Holdings FG

expectations like and required obligation remind on to that law. be These in company are the based to uncertainties some in we update may differ forward-looking no statements, filings. uncertainties expressly on forward-looking made on SEC and company's Before obligation nature. today, those to disclaims begin, statements statements current except as cause view is subject and under as today's any also and management's from also results Risks I'd the to will by materially are are everyone described of this call and and actual These risks statements described call.

definition financial discussion Today's in also and website. The the are release measures to the presentation terms Investor to earnings available of posted contain non-GAAP and section the GAAP in reconciliations measures. of Relations references non-GAAP

all encourage Our used in we to non-GAAP comparable review making you investment reporting financial those to may and and companies, measures before other not understand any our be decisions.

the At Go ahead, this to over turn time, Mark. I'll Mark. call

Mark Roberson

Thanks, Jen, and thanks, everyone, for joining us today.

continuing if along. discuss, of see Slides the fourth I As year. and we things with X some now will start from makes on takeaways quarter. we'll it in thought as XXXX, we're in into to past we and starting sense new momentum importantly, XXXX, by year into shake how I to up XXXX recapping the the finished wrap We X, well and following the the XXXX. start entering just see we're you're up that momentum more deck And strong

distinction December, small name name as change But as it's we the Strong and our important a a holding current future It's in operate an thing. FG company. better our Group reflects to transitioning Holdings. Ballantyne First, the from completed plans to new

allocated currently holdings. capital have We to primary X

Entertainment our largest large-format Strong We own operating business launched services screens and we new our Entertainment. First, XXX% which of of is year. in Studios supplier North and where currently this Strong premium business, America cinema the

as holding XXX% will to communicated, stake intent, a Our we've is is the on strategy, the separate This company business business opportunity previously value at measure increased holding for forward more less but providing larger with entertainment Strong company. our potential and company. future than going scale a into consistent the Entertainment and majority to of its in capitalize tangible a also growth allowing that and much retain

We Digital XXX% a we Financial, equity with acres the also FG business, Atlanta in And area. hold square and XX,XXX also than Products. Ignition companies, in Forest estate X GreenFirst in Firefly, positions our building real own foot less operating XX and

grew sequentially Moving revenues our this at Entertainment customer notably, of over any QX COVID. revenues are level quarter to on seen to highest we've strongly come to up XX% business revenue Slide and back bounced start with, and year. Strong operating demand and Annual the since X,

for experience. and the spending and forward, in supply stronger industry their On much screens. several especially investments Strong IMAX capital our position teams the and out Slide the past already pandemic. to we've operations quarters, And the continues recover building market of formalizing and a exclusive Entertainment arrangements signed of and projection sales next the market to properties relationships. the exhibitors coming driving in accelerating strong improve are years. all in several of top going with to increasing as with industry our X, laser their as we puts and and exhibitors the many particularly new upgrades This theatrical We accelerate their the those Cinemark, penetration over And share AMC, invested Marcus

global also industry. enables more customers for East. in and influence growing in streamlined screen import We're Europe delivery expedited our the facility export serving recently, In established this expanding Middle Belgium Europe, which our example, finishing for we and

We XXXX also see going the to Asia Europe, forward. international in particular, starting really markets, improve and in and

other obviously more you deals now now large was great call recovery to to in their multiunit of including China market Asia, of which starting listen the reopening If Japan see. earnings a fully to as to the is -- of in call, instance, China see parts happen that around they're market new their is and IMAX's in Asia, for recent centered in portion commentary and

Moving Slide X. on to

all XXXX, Box much overall and Office cinema over revenues now from revenue Box closer attendance pre-COVID starting we trend rebound. in XXXX. XXXX well up the and Office During levels to were are saw looking XX% XXXX levels into to

is just with we what For in specifically, studio XXXX. even XXXX, calendar back following than film the catching saw the XXXX production release up COVID-related stronger delays, now in

film their which And also of office XXXX ramp than XXXX. expect the number their grossing is Our another performed will And to that's exceptionally of becoming they're position bullishness in AMC expecting over expansion was to than and commented put increase example, levels. XXXX. again. the they're backdrop by business this growth footing year the titles more we and in by expectations. Cinemark, up to in box our they Overall, $XXX XX% And starting internal XX% greater of that solid theaters movie for screens A example strong XXXX. entertainment on course, largest their growth much going sees are forward. over the customers certainly increasing our in than in for over million in strong releases industry global the markets new examples, industry, once from more new XX% well XXXX in voicing international few vocal their XXXX, driving exceed XXXX IMAX in better propel certainly helped strengthened

the in really Slide This first. We're Turning particular, in xenon upgrading charge, the Cinemark, year. discussed this AMC XX. earnest we've and of industry. from is plans big second half particularly spending And to exhibitors the that their upgrades to for seeing and their laser well. the exhibitors markets years really the The largest upgrade cinema deal in at a to commence to least regional expected began leading by started drive as and next it's several as for projection international

we service and provider, projection. in to, is continues upgrade Cinionic, we're for We R&D projectors. years the spent the for many screen And as who leader the exhibitors, several we're leading well positioned the of partner just And cycle manufacturer our optimal exclusive the coatings and optimizing accelerate. screens now and market preferred laser laser believe to as large

Slide seeing one Turning now Group, we've XX. our to to drivers growth XX% that we're discussed This grew which is for the Services quarter. Technical the in the upgrade also cycle of

this business We to as up. ramp their of continue to their cinemas from volumes see outsource part looking more demand

For service service new multiyear customers' nationwide well both customers signed work. example, continuing for our serve Theatres as to offerings contracts we for an to managed Marcus needs. agreement on-demand as add to exclusive with services We've managed expand our better continued and we're also

for services and of increasing, our our and service demands upgrade as bandwidth equipment installations projection laser service in management providing laser increase well as our the project more staffing offerings, expanding screens, cinemas. team up audio to been we've With the

XX. XX and Moving over Slides to

Strong new the In and adding launched our services Studios entirely year, vertical The this the also busy an Studios Inside business. in represents Crackle the over QX. the months. been to business. began project new network business, we growth the production several team very past and business This for screen addition Box has to Studios project completed first Black the our hearing on revenue-producing entertainment

also we're deep production much which We project into larger Safehaven, now was postproduction. wrapped on a and

to tremendous and Studios be year. business, potentially growth potential We and ready And we're later of we revenue providing the taking we'll organically through utilizing see a coproduction and minimize We M&A. episodes capital in both upside new also IP participating services while lean where in the creating delivery projects. through upside expect conservative revenue and ownership streams. production to pretty Initially, at generate the and risk this back-end for the can towards approach

team moving execute themselves businesses and Holdings to XX. Slides about And FG XX creation completed. the positioned launched the very appreciation. was year. platform value FG on banking for now, were cap business to meaningful this announced Corp capital Transitioning those through loss reinsurance X reinsurance potential transactions excited teams recently merchant the completed The At Merger the Financial, X with integrity our top iCoreConnect. agreement continue contracts, and Equity We're as combination

creation multi-brand has been the Craveworthy industry team platform. the the announcing focused the former franchise John's FG is a platform, busy manufactured as housing Banking in Communities, Merchant with Jimmy launch of the restaurant as as which of well of new CEO the In

Ventures invest potential seen growth One venture-backed year, non-digital mobile U.K.'s private the about they're continue advertising is in Firefly the recall we strategy that and excited and we years they markets. value grow. the acquired our to Post-pandemic, company now advertising element taxi entered company. major were our the revenue with to key of market XX exceptional ago. their You'll Google they contribute they're FX business has Firefly the taxi-top This Firefly, a in and X over business stake media European when in convert we multiplies team acquisition excited especially as they the of creating. that digital really leading tops as We're about to potential alongside

management for In they in Canadian sale shell for following to announced announced further value valuable forest to from believe operations. X allows then Ontario of evolved very investment. land our Canada focus announced balance in leading of the transactions ultimate Recently, has and of GreenFirst their their producers our to are their of on X holding. million. And assets GreenFirst then Quebec they in sawmills to small Those strengthen transactions; one And to sheet they the more $XX lumber million. favorable a we that $XX sale monetize private the and December, November, the the

the a M&A, really watching bit at industry we're to the on fronts. all so closely, a continues year strong overall, see of solid of This XXXX, coming end momentum so, new quite

that, us the to you like would walk Todd, through with financials?

Todd Major

which consolidated results the start for Sure. quarter. on Slide Thanks Mark. XX, I'll our has

of meaningful improvements gross continued operations up prior XXX%. XX%, revenue XX% results up over year, profit show the adjusted to up Our and almost EBITDA with

XXXX. Strong surpassing in years, in levels X Entertainment the delivered the quarter side, strongest On its of the revenue final quarter achieved

the market from cinema scope of the in Our increase better prior and services. to driver our revenue year services the business the of increased we customers support as our services was share to primary increase

percentage. a project earlier, recorded of more digital But gross didn't Mark by first than In to had addition, the screens, gross since which cinema in revenue higher-margin in delivered our Strong the launched profit and offset that of quarter. increase XXXX. XXXX and that We as equipment improved quarter large sales repeat margin in it led XX% fourth was was the its higher over of Studios in mentioned order $XXX,XXX

Adjusted the sign of EBITDA the another in $XXX,XXX during in that year continuing the are $XXX,XXX a from negative we positive the momentum quarter benefiting industry. is prior from

Our sheet on year-end balance XX. is Slide

holdings We our Strong ended on year. assets million balance equity Entertainment operating our our the business also end and half ignition on the in the and year sheet. $X as with sheet of estate represent real reflects digital million business. the And the cash Our $XX almost approximately balance balance our of of our the sheet with assets

in Atlanta to year. $X in during our the X was million, quarter of balance and debt to slow the strong occurred approximately during primarily able were working uses the months related that We real MDI capital finally, fourth the estate Quebec. And first

Quebec amended term liquidity our appreciated loan based provide $X following on year. and revolving the in value end The We the facility increased $X the real million access additional million a with limits the facility of credit estate. of to Canada

continue against we're stated, equity appreciation. and seeing expect continues the the previously Strong their which into teams business rebound as meaningful positive value potential execute in Entertainment holdings in we strategy, Mark As to to as develop creation momentum capital our industry significant our to

now wraps financial up the for some I'll That remarks. the call Kyle flip section. closing over to

Kyle Cerminara

last the also current challenges. opportunities And economic how environment act as come pleased years on Todd. presents being our and very through with opportunities the managed challenges The we've few we're to over while across positioned conservatively numerous they Thanks, desk.

for look steps to the company you value to a and on extract for new to many transition We're years. shareholders. to believe taken in And We've value that to months holding over we meaningful that quarters working create forward reporting coming we coming shareholders back the will developments. judiciously

up it Please our answer any open for ask will we'll We Q&A section. do it. to now best the question,

Operator

[Operator First with from Instructions] Phillips comes Capital]. Elm question [Tyler Street

Unidentified Analyst

handle do your I how So, do sold, handle was that installation? after specifically you they're Or you installation in-house? wondering, you do of outsource screens

Mark Roberson

Thanks, Tyler, not this is provided actually the this. It's not everyone not question. may traditionally, installation But the screen we other by sell services. of usually historically cinemas But good screens not a lots know be we screens. for the Mark. we've cinemas. Thanks provide -- We And question. have may providers. They're handled service into using and outsourced services we the the actually installed

we've start would start particular, that in us, so providing. specifically from the a connection of more shop. to laser recently, had be However, services with guys customers, upgrades can on you we they're providing embarking asked in those They've demand one-stop

opportunity XXXX. the XXXX this that we've into for And in So starting staff we then to screen we've of midway that that been a started on one of through the this as the we're started areas and year one growth particularly business as things providing and up see installation doing, services we it's real and group.

interesting and area So that. customers it's to customers it and there's our other business But like good and can interesting and business. our service provide that the expand -- the to an represents better our an service things an service of question grow provide offerings and we part of

Operator

from comes Janney Reiss Montgomery. question with Brett next The

Brett Reiss

company Good if are what was the results. cash, you need have window the levers cash raise the did IPO to available? closed, Since does

Mark Roberson

that Yes. the for our we of growth We driven need much pace sheet levers. Brett, to is number by our But more provide the cash within capital. lines require mean, even accelerate levers we that utilize growth. could were largely a more I if credit our may on to capital. there have could we a -- and of are rapidly, obviously, of additional number balance

Brett Reiss

Well, of the And of where building amount do it's you mortgage? that a in Georgia, what worth? think encumbered source it's Is funding? by

Mark Roberson

It be go could -- ahead, Kyle.

Kyle Cerminara

that Let answer me question.

a different can ways access lot So of we capital. there's

that -- give this Georgia little a dollars for has has $X in it. $X million. million, wrong. Mark, on building over it me a take about thousand correct have few hundred purchased But believe We a It if is was I debt of or

Mark Roberson

Yes, that's right.

Kyle Cerminara

it So it a has purchase million has price, dollars at -- few equity. of

I good measures, going on the -- through think going of the got believe significantly And is like increase the highway the that's that. there's a being right value all literally It to we that a price backyard we developed, was of building. building. by

or you like going we're that own to station that highways major a in a the to subdivided. the things building, like have it's -- that to there's And a that We food a gas highway interest would highway a be our through to there's Chick-fil-A fast have stations not or property. other things that land in addition or the we going -- building like significant addition restaurants that could like it's given gas like highway. developers or things build getting like other from on It's

million million to than somewhere but exactly either $XX it's I'd more if view, land subdividing a worth number definitely or worth million. selling million. it's hate it, I'd could was worth Like $XX the next million, million it's it. $X of in in is say than to and $XX $XX But guess. there interest in be say some $XX But I the put estate. could worth more the land million, or worth I'd range or it's So million the it on it's in may be worth to be hesitant year $XX $X my because million it exactly real all $XX my perhaps few -- be a months of to

we're to our things to with all could that. Ignition. bigger inside do because exploring I be to a But be that could we There's, think we of developing that things really that, with could it's we really that decision kinds what explain the best of interest we with really business doing in until exactly made going that don't going be building that building. of selling with Digital we've And into on lots have

is If million to, net or of that sell building the and we'd could So have we one of obviously mortgage. liquidity. the wanted of $X $X million we source cash

in very do speaking not the with well some point GreenFirst at Forest any XXXX. Forest it. Products. react a me stake well. monetized expect looks Products to be our didn't that, reported They today to GreenFirst that obviously as we That's like thesis. Beyond in to have stock It significant information relative we But That's that.

would very But in I they've that's that think we that attractive in sale. mills And do they think now their near that be to Mills sold a be Quebec be position explored something the term. a that could should Ontario

all of Forest to of shareholder we exploring options Board would GreenFirst expect a like GreenFirst As be Products, that. the

think that in hope GreenFirst don't that XXXX not our is And would hope. be on invest we we liquidity some and hope, should there our just

So significant where some point. that's liquidity at some see think we we'll

access and Mark accessing we mentioned really unless common issuing liquidity. dollars won't Absent it's of other equity, millions that, do special. of of for to something that facilities have credit But be ways we

been is mentioned There gotten do smaller are sense. recently. something Now FG made IPOs the do where it a know IPOs done. obviously few if we IPO market. well. SPAC only that have very done that the you market There's would have to But SPAC starting market the shy. We have Financial, get We

be global is $XX Company. it I look expect so million be that small we are exploring alternatives And a can the could should that cap you public company $XX reason not things all little And public creative market there to done. But a people. that is at a business. million, that that we million, entertainment, for So be we we're strong want will when have company $XX

merge that with combine us GreenFirst interesting of be entertainment million with or a did company. public Forest lot very for there's, entertainment a we what to a companies. companies will do can hundred and is we Products, have to bigger substantial several And other larger dollar that much so with It's which

we public microcap a So reason entertainment publicly not we of a traded of entertainment company. can tiny explore that have we company of value dollars hundreds listing that a millions that interesting, little that's the is so is think want to with

purpose could another consolidate maybe currency is or So a transaction point, I think think like, We opportunity at have public people. We're do the listing that's IPO. company really been to misunderstood entertainment either to that do, a looking entertainment an industry, to have there's SPAC the little sense. some tiny which to somewhat potentially by is a not a we where of make

So And an we're SPAC and with looking company, a of things at that all sense, a we're options. the out at a there merger there's to though. a do it's entertainment not that all. -- But about liquidity whether IPO, could I'm publicly done, or lot only going things traded be concerned on make

Brett Reiss

I that color. appreciate

any I or $XXX,XXX one revenue whatever recurring if was may. project Another can expect project we first project that? two, from Entertainment, Strong The what was? that And with

Mark Roberson

Yes, Brett, Mark. this is

Box, project Inside for was the that first Black the was So our new project business. which revenue-producing

did with basis, a lot limited of very going a It's Studios. projects services limited primarily that soup It not So that different probably as series a a do on the than be Strong managed back we'll on half-hour represents we project behalf. for chicken of a the a going little generate It's And lot is in. we project to to their the did very that salad. we that where series.

revenue, no with that of We no some service. can decent provide capital, generate it a risk. profitability we on can generate But amount

back-end where have So for that more have on participation the a other about that it's the attitude talked we've will than little we that. something periodically. that projects significant do different would we series it's But

projects cover projects from as we'll see recur time with larger But see in I other So time we that expect it help business. every you'll like and grow expenses wouldn't to overhead quarter. fill to cover to because that necessarily the

Brett Reiss

the that that? now revenues in profit Mark, in two, or Where pre-COVID next settle margins levels. passed right. even Right, are you do year should gross think

Mark Roberson

has do pre-COVID in gross profit mix gross business was we'll bit projection et below the which little in to lot -- a the and we third-party audio compared levels. I a of as with to And of cetera. mix equipment, that It's earlier business in it year. of when see the business, -- in sell product margins saw margin our terms screen the a projector, highly QX we from margins think where profitable is still has between higher improved equipment,

continuing But towards is So heavier that to it's a give that and you can't in see an we timing numbers. product as and forward. screens, or on the occur. I QX probably period. mix audio versus skewed right that improving direction through percentage the and but moving we exact And in trend will little the definitely still we third-party that significantly look improve when projection on you see that saw the

Brett Reiss

macroeconomic Okay. past, I in business And winds severe a one. during blowing still headwind for to a just recession. are recession be towards one mean, a the the we go severe last the recession, that's us? people a or in If movies would resistant Are quasi-recession

Mark Roberson

I they're mean charts recessions graphs if you the during of box historical the and office metrics overlay prior years. there. There's, show box kind out that of against plenty and look recession the publicized it at office well on past

has I that we'd think with look the entertainment affordable we be you And right item. certainly a to predict significantly although can't are entertainment been it's not at entertainment times. movies when accuracy. the cinema; box affected and still generally very all generally You're office to quite But the expect that recession case, resistant. the And continue recessionary in choices, as luxury the

now is exhibitors Then the COVID, moved you has that I versus forward, when during the the other driver their to only really AMC, going listen calls, they're excited we about the earnings which did primary get certain projects shifted streaming we to what the studio back. Cinemark on if IMAX, look not -- see think cinemas, fact slate of really and and

of COVID and COVID shutdowns. content because of was delayed But the development restrictions

in getting just from they're favorable and back more an still there. releases now to catching availability closer XXXX expecting show So that's was a not pre-COVID, to But much probably studio of to XXXX it really where content is quite of the up theaters. the where pipeline

Brett Reiss

And good on show year-end and fourth results. the quarter

Operator

individual comes from next Merrick, investor. The question Jim

Unidentified Analyst

it's of the to This Kyle. was through the of question start, it. rephrase going on some the comment and report. is quite how waiting for sure at But of come messages wrong. know for some message I to previous out a kind When I I'm or not a board look I maybe look kind to meeting earnings

some And around control and it I at monetize the time now because taken that company, $XX of valuable. like on has have happens There passed another. talked again stock last within a $XX her was or friends cash, gone And I in really million weeks. guess, widow be since building hope her couple the husband Kyle I to of has stock And one one to million, in to Omaha, just the the over of price them down. in cash, the away. And down was

come like say that significantly. What I look lumber it's and like I see great doing down GreenFirst that the see them prices, doesn't would you I mean, did to faith? to keep do

So of to could hope kind what me relate them? to you give

Kyle Cerminara

Yes. that company great Board. with of we was originally company. Like question. frustrated XXXX. the That's the with was the in a called got appalled involved joined XXXX, previous on was a Strong we Board in And the had actually actually acquired when Board, by joined called Convergent I what I what the I got direction Ballantyne with involved when And because were we going

a like first I we huge our several amounts when going money while said, basically losing was we're in million it making quarter this And we Board because in million losing we of meeting that to And that to were need we if steps learned dramatic business dollars like very take Convergent, Convergent hey, to in in quarter several business. dollars my with don't. cinema were start stabilize a

act the I Board to. wanted previous them as And quickly as really didn't

an several amount nice fight of stop it that we us around And So defects we company But proxy to up ended to several cash. the bleeding acquisition a quite I was in the years think we mess a But us had to around. cinema long business to the turn the involvement. took XXXX bleeding the with We and in cash it. what selling our it stop prior that years generated and back for we it changed Convergent. it inherited Convergent the the at Board. time to and did was conversion had a We made business took it turned that took we and ran fix a

At time, the basically the same industry XXXX. cinema in peaked

If look peaked we dramatically money XD most on through were they terms that for And profitability sort sort XXXX you business. And in XD screen of in the XD our installations MDI record of think about or at make at industry, sales like XXXX. growing XXXX the in was of and sales. I year our XXXX

was actually when were there got there, money. for business were like basically fixing it had we so basically sellable. negative. -- every up and negative first And the bids we we got Like said not can let's of Convergent. had put we quickly there. -- was that for was we much on time focused every sale. bids that I got spent because We losing sell just as we business put building this we sort like that business right when got we of up possible. We when as And a got like Convergent we the Convergent for really a we were company And tell We sale. you lot for

we before the got for getting about for on business. sell or sales we And sort the to prices had up apart us unfortunately, selling were ran And And spent fell reason cinema sales cinema that. on time. COVID business. of building we help period ended time to lot process that. of We -- were some cash the another. through to hit, one -- fantastic we and those We the fixing And we right that -- of a we through try

our so cinema every the And country business government it not business know, was that. because, time decided a it and basically, hit you to impaired good was in single the as shut by significantly and we sell the

job investments time. very We We Products. very in through some made did good costs a of period GreenFirst good Forest that managing

Firefly, you job Right GreenFirst Products, of we that of is a If had look Strong at we company. we business only equity for COVID, Forest now Forest growing able to were in rapidly Products, business cost called not in but at did beginning GreenFirst that a harvesting monetize our what in good was Outdoor. very the a private also which

through we've best And situations. I think done that some really challenging -- our we've

all? sure. best back not involved go could with we to would I had. But if what So we at I'm XXXX, have did we gotten our

So we like like the business 'XX, had before XXXX that of we cinema COVID sale thought a right or hit. in

And that we'd we that we'd was lot -- sale price that if of Unfortunately, through, shareholders. for, be obviously. didn't COVID looking gone something different that stock we looking and and a -- hit at happy probably -- had we plan be a if at probably couldn't

But we with what did we had. the best

to be price But we're the we we stock. not our higher. is lot at promotional, our doing same So time, lot get the we're monetize the to of like that going best a stock goal current to positions have. a And own

aggressive to that out the promote our That's the like are company that do people firms Our just of to going get so sort just not assets sell to DNA things to do the or of over investor hire time. stock in promotional. can go things relations goal is not that We're higher, grow it. to the stock like

be I'm and you be can. and in seen higher answering to their just reward in So shareholders dishonest But the pump possible, as DNA. other in stocks companies honest just We'll honest stock to I've not what do question. of we and we your which with their as go That's do out just short run. we is can't our which trying sort will be get as do, as

that your hopefully, answers you So question, if a question. follow have but

Unidentified Analyst

I appreciate you taking that.

you that mind you below So a will IPO. potential on have price not in go a

Kyle Cerminara

that. that to might think that, I Mark know be don't able can don't but we answer answer I that. speak I can to that

Mark Roberson

think Yes. rules. the specifically answer on IPO under I to don't valuation we're questions allowed

Unidentified Analyst

I business there past probably would have investment and to assume going and go hire to the in sell they've Ballantyne? to what try you're done kind Because that to of at banker out some

Kyle Cerminara

for investment the banker been that's We hired have IPO. -- to an

Operator

the question-and-answer the for Mark We the have closing turn now call reached remarks. to end session. I will of over

Mark Roberson

in, really and Thanks, everyone, for questions today. dialing good thanks,

of If any out three here additional of the and to us don't to on look hesitate you forward again speaking soon. have reach to follow-up call questions, the

Operator

and conference your lines today's concludes for This at you time. may participation. your disconnect Thank this you

FG (FGH) 15 Mar 232022 Q4 Earnings call transcript