NV5 Global, Inc. (NASDAQ:NVEE) Q4 2023 Earnings Conference Call February 22, 2024 4:30 PM ET Company Participants Richard Tong - EVP and General Counsel Dickerson Wright - Chairman and CEO Edward Codispoti - CFO Alex Hockman - President and COO Ben Heraud - COO Dan Levine - President, Geospatial Conference Call Participants Chris Moore - CJS Securities Andy Wittmann - Baird Rob Brown - Lake Street Capital Markets Tim Mulrooney - William Blair Jeff Martin - ROTH Capital Partners Michael Feniger - Bank of Ame ...

NV5 ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS; ISSUES FULL YEAR 2024 GUIDANCE Hollywood, FL – February 22, 2024 – NV5 Global, Inc. (Nasdaq: NVEE) ("NV5" or the "Company"), a provider of technology, conformity assessment, consulting solutions, and software applications, today reported financial results for the fourth quarter and full year ended December 30, 2023. "NV5 delivered strong results in the fourth quarter and 14% growth over the same period in 2022, despite headwinds from continuing resolu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________ FORM 10-Q _______________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35849 _________________ ...

Financial Data and Key Metrics - Gross revenues for Q3 2023 were $239.3 million, up from $204.1 million in Q3 2022, driven by organic growth and acquisitions [54] - Gross profit increased by $15.5 million (15.5%) to $115.4 million compared to Q3 2022 [54] - Net income decreased by $2.7 million to $13.3 million, impacted by higher amortization and interest expenses [54][55] - Adjusted EBITDA was $37.8 million, up from $36 million in Q3 2022, despite project cycles in the LNG business and VIS acquisition pre-integration [66] - Backlog grew to $833 million, representing work planned for the next 12 months [53] Business Line Data and Key Metrics - **Infrastructure Group**: Grew 14% organically in key geographic areas like New York [33] - **LNG Business**: Grew 33% organically over Q3 2022, with strong demand for peak shaping facilities [45][104] - **Geospatial Services**: Year-to-date total growth of 69%, with 7% organic growth, driven by acquisitions like Axim and L3Harris [36] - **Buildings and Technology**: International mission-critical opportunities grew 44%, with 12% organic growth in Q3 2023 [30] - **Utility Services**: 21% organic growth, driven by substation and grid optimization projects [44] Market Data and Key Metrics - **International Growth**: Expansion into Japan and South Korea, with strong traction in mission-critical data centers [23] - **Domestic Growth**: Strong performance in New York and other key regions, with infrastructure projects benefiting from federal funding [33][92] - **Casino and Hospitality Sector**: Reopening post-COVID has driven spending, with new design projects in Macau [24] Company Strategy and Industry Competition - Focus on diversification across sectors to mitigate downturns, with stable revenue and minimal leverage [148] - Expansion into subscription-based and recurring revenue models, particularly in Geospatial and Technology services [129] - Strategic acquisitions like Red Technologies and L3Harris to enhance capabilities and client base [26][52] - Emphasis on technology as a competitive edge, with investments in software and advanced imaging solutions [141] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about 2024, with a strong backlog and recurring revenue streams driving growth [89][124] - Interest rate increases have impacted private sector development, but infrastructure projects remain stable due to federal funding [92] - LNG business is expected to remain strong, with high demand for peak shaping facilities [104] - Geospatial business is poised for organic growth acceleration in 2024, driven by strong bookings and backlog [116] Other Important Information - The company has $46.4 million in cash on hand and a net leverage of 1.3x, positioning it well for future growth [56] - Integration of acquisitions like Axim and L3Harris is nearly complete, with CRM integration expected by Q1 2024 [38] - The company is targeting $1 billion in revenue by the end of 2024, driven by organic growth and strategic acquisitions [124] Q&A Session Summary Question: Drivers behind the fiscal 2023 guidance revision - The revision is due to project delays in the Geospatial group and timing of acquisitions, with some expected to extend into 2024 [71] Question: Impact of interest rates on infrastructure work - Infrastructure projects have not been significantly impacted by interest rates, but private sector development has seen delays [46] Question: Growth outlook for the utility business - The utility business is expected to grow, driven by opportunities in power distribution and delivery, with no slowdown observed [84][100] Question: Gross margin dynamics and outlook - Gross margins are influenced by project cycles and labor costs, with some variability expected quarter-to-quarter [79] Question: LNG business growth and project completions - The LNG business is expected to remain strong, with growth driven by engineering and procurement phases, though construction cycles may cause lumpiness [104][114] Question: Geospatial organic growth acceleration in 2024 - Strong bookings and backlog in Geospatial are expected to drive organic growth acceleration in 2024 [116] Question: Impact of Orsted's offshore wind project cancellations - The company has limited exposure to Orsted's projects, with most work focused on North Carolina and not directly impacted by the cancellations [122]

Conference Call Participants I would like now to turn the call over to Richard Tong. During this call GAAP and non-GAAP financial measures will be discussed. A reconciliation between the two is available in today's earnings release and on the company's website at www.nv5.com. Please note that unless otherwise stated all references to second quarter 2023 comparisons are being made against the second quarter of 2022. We will begin the call with comments from Dickerson Wright, Chairman and CEO of NV5, and turn ...

DISCLAIMER Dickerson Wright Chairman & CEO Edward Codispoti Chief Financial Officer Beyond engineering $2.93 - $3.33 2023 GAAP EPS G U I DA NC E DATA CENTERS & ACQUISITION OF RED TECHNOLOGIES | --- | --- | --- | --- | |-------|---------------------------------------------------------------------------------------------------------|--------------------------------------------------------|--------------------------------------------------------------------------------| | | | | | | | Q2 | Highlights & Opportun ...

And what I'd like to say, and you're going to see that in some concluding comments, I really look at the annual, I wish our business was linear, but I really look at the annual rate. I think that's in line. I think I agree with the business not being linear and focusing more on the full year numbers. I can say that from -- we tried to emphasize that the results we expect would be more weighted towards the second half of the year. And so although those revenues seem reasonable from an expense perspective Q2, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35849 NV5 Global, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3458017 (State or other jurisdiction of incorporation ...

NV5 Global, Inc. (NASDAQ:NVEE) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET Company Participants Richard Tong - EVP and General Counsel Dickerson Wright - Chairman and CEO Edward Codispoti - CFO Alex Hockman - President, COO & Director Ben Heraud - COO Conference Call Participants Jeff Martin - ROTH Capital Partners Chris Moore - CJS Securities Rob Brown - Lake Street Capital Markets Andy Wittmann - Baird Michael Feniger - Bank of America David Marsh - Singular Research Mark Riddick - Sidot ...

2022 STRATEGIC ACQUISITIONS TO STRENGTHEN PLATFORM | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------| | Infrastructure | Building, Technology & Sciences | Geospatial S ...