GSE Systems, Inc. (NASDAQ:GVP) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET Company Participants Adam Lowensteiner - Vice President of Lytham Partners Kyle Loudermilk - President & CEO Emmett Pepe - CFO & Treasurer Conference Call Participants William Bremer - Vanquish Capital Operator Good day and welcome to the GSE Systems, Inc. Reports First Quarter of Fiscal Year 2022 (ph) Financial Results. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, t ...

| --- | --- | --- | --- | |-------|-------|-------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Investor Presentation | | | | | GSE Systems, Inc. ("GSE Solutions") | | | | | NASDAQ: GVP | | | | | Spring 2022 | | Forward Looking Statements and Non-GAAP Financial Measures This presentation, our remarks, and answers to questions contain statements that are considered forward-looking statements within the meaning ...

GSE Systems, Inc. (NASDAQ:GVP) Q4 2021 Earnings Conference Call March 31, 2022 4:30 PM ET CompanyParticipants Adam Lowensteiner - Vice President of Lytham Partners Emmett Pepe - Chief Financial Officer & Treasurer Kyle Loudermilk - President & Chief Executive Officer Conference Call Participants Operator Good afternoon and welcome to the GSE Systems Inc. Fourth Quarter and Fiscal Year 2021 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's ...

GSE Systems, Inc. (NASDAQ:GVP) Q3 2021 Earnings Conference Call November 15, 2021 4:30 PM ET Company Participants Adam Lowensteiner - Vice President of Lytham Partners Kyle Loudermilk - President & Chief Executive Officer Emmett Pepe - Chief Financial Officer Conference Call Participants Operator Good afternoon and welcome to GSE Systems Third Quarter Fiscal Year 2021 Financial Results Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an op ...

GSE Systems, Inc. (NASDAQ:GVP) Q2 2021 Earnings Conference Call August 16, 2021 4:30 PM ET Company Participants Adam Lowensteiner - VP, Lytham Partners Kyle Loudermilk - President, CEO & Director Emmett Pepe - CFO & Treasurer Conference Call Participants Operator Good afternoon, and welcome to the GSE Systems Inc. Reports Second Quarter Fiscal Year 2021 Financial Results Conference Call. [Operator Instructions]. Please note, this event is being recorded. I would now like to turn the conference over to Adam ...

GSE Systems, Inc. (NASDAQ:GVP) Q1 2021 Results Conference Call May 17, 2021 4:30 PM ET Company Participants Robert Blum - Investor Relations, Lytham Partners Kyle Loudermilk - President and Chief Executive Officer Conference Call Participants David Wright - Henry Investment Trust Operator Good day and welcome to the GSE Systems Reports First Quarter Fiscal Year 2021 Financial Results Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions]After the today's presentati ...

GSE Systems, Inc. (NASDAQ:GVP) Q4 2020 Earnings Conference Call March 31, 2021 4:30 PM ET Company Participants Kalle Ahl – Investor Relations-The Equity Group Kyle Loudermilk – President and Chief Executive Officer Emmett Pepe – Chief Financial Officer Conference Call Participants Operator Greetings and welcome to GSE SolutionsÂ' Fourth Quarter and Year End 2020 Financial Results Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal pr ...

GSE Systems, Inc. (NASDAQ:GVP) Q3 2020 Earnings Conference Call November 16, 2020 5:00 PM ET Company Participants Kalle Ahl - Investor Relations, The Equity Group Kyle Loudermilk - President and Chief Executive Officer Emmett Pepe - Chief Financial Officer Conference Call Participants Tim Chatard - Meros Investments Operator Hello and welcome to the GSE Solutions Third Quarter 2020 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasu ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2020 was $14.3 million, down from $23.5 million in Q2 2019, reflecting a decrease of $9.2 million [9][18] - Adjusted EBITDA for Q2 2020 was a loss of $191,000 compared to an adjusted EBITDA of $1.9 million in Q2 2019 [9][21] - Gross profit in Q2 2020 totaled $3.6 million, down from $5.9 million in Q2 2019 [19] - SG&A expenses increased to $4.7 million in Q2 2020 from $4.3 million in Q2 2019, primarily due to a provision for a legal settlement [20] Business Line Data and Key Metrics Changes - Performance Improvement segment revenue was $8.3 million in Q2 2020, down from $13 million in the prior year [18][28] - NITC segment revenue was $6.1 million in Q2 2020, down from $10.5 million in Q2 2019 [18][28] - Performance Improvement gross profit decreased to $2.7 million from $4.5 million year-over-year, while NITC gross profit decreased to $832,000 from $1.3 million [19] Market Data and Key Metrics Changes - The total backlog at the end of Q2 stood at $46.6 million, consisting of $31.2 million in performance improvement backlog and $15.4 million in NITC backlog [12] - The company generated cash flow from operations totaling approximately $360,000 during the quarter [12] Company Strategy and Development Direction - The company aims to manage through the pandemic by providing essential services while maintaining a solid backlog cushion [12] - There is a focus on organic growth, streamlining operations, containing costs, maximizing cash flow, and paying down debt [14] - The long-term demand outlook for staffing and training services in the nuclear power industry remains robust [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the second quarter results were depressed due to COVID-19, with industry-wide RFP delays and project postponements [8] - The expectation is that project work will rebound post-COVID, similar to past industry shocks [14] - Management remains optimistic about long-term opportunities, citing the essential nature of their services [13] Other Important Information - The company received a Paycheck Protection Program loan of $10 million, which is being used for payroll and related costs [23] - Net debt at the end of Q2 totaled $5 million, consisting of $23.3 million in debt and $18.3 million in cash [13][21] Q&A Session Summary Question: What were the segment revenues for Performance and NITC? - Performance Improvement revenue was $8.3 million and NITC revenue was $6.1 million for the quarter [28] Question: What is the timetable for determining the forgivable amount of the PPP loan? - The company expects to finalize its position regarding the PPP loan by Q4 of this year, subject to audits [30] Question: What is the process for submitting the PPP loan forgiveness plan? - The process involves submitting a plan to the bank, which then contacts the SBA for further action [32] Question: Which bank was used for the PPP loan? - The bank of record for the PPP loan is Citizens Bank, which is an SBA lender [33]

Financial Data and Key Metrics Changes - Total revenue in Q1 2020 was $17.7 million, down from $22.2 million in Q1 2019, reflecting a decrease of $2.5 million in the performance improvement segment and $2 million in the Nuclear Industry Training & Consulting (NITC) segment [10][25] - Adjusted EBITDA was negative $0.6 million in Q1 2020 compared to positive $0.2 million in Q1 2019, with an impairment charge of $4.3 million recorded for intangible assets [10][29] - Cash position at the end of Q1 2020 was $11.4 million, with total debt of $16.8 million, a decrease of $1.7 million from Q4 2019 [13][30] Business Line Data and Key Metrics Changes - Performance solution segment orders totaled $5.3 million, up from $4.6 million in the prior year quarter, indicating a steady flow of business [15] - NITC segment orders increased to $14.3 million from $8.5 million in the prior year quarter, driven by continued services to primary nuclear utility customers [17] - Total backlog at the end of Q1 stood at $54 million, exceeding the year-end 2019 backlog of $52.7 million, indicating a solid start to the year [18] Market Data and Key Metrics Changes - New orders during Q1 increased approximately 36% year-over-year to $19.6 million, exceeding internal plans despite COVID-19 challenges [14] - The long-term demand outlook for industry staffing and training services remains strong due to the unique needs of the nuclear power industry [18][23] Company Strategy and Development Direction - The company emphasizes protecting employee and client health during the COVID-19 pandemic while focusing on organic growth, streamlining operations, and maximizing cash flow [22] - A strategic collaboration with ABB Bailey Japan was established to provide thermal simulation services to the Japanese power market, indicating a focus on expanding service offerings [16] Management Comments on Operating Environment and Future Outlook - Management noted that customer behavior is shifting towards delaying non-essential work, but essential services for operational safety and efficiency will continue [11][12] - The company expects pent-up demand for services to eventually translate into higher backlog figures as nuclear facilities require reliable power delivery [19][20] - Management anticipates another challenging period in Q2 2020 due to conservative client approaches to new projects [21] Other Important Information - The company received $10 million from the Federal Payroll Protection Program, which bolstered its cash position [30] - The company plans to aggressively pay down debt and expects to refinance remaining debt by year-end [13] Q&A Session Summary - The Q&A session was not detailed in the provided content, and no specific questions or answers were recorded [31][35]