The following is a summary of the Mobile Infrastructure Corporation (BEEP) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Mobile Infrastructure reported a Q1 2024 revenue of $8.8 million, up 24% year-on-year from $7.1 million in Q1 2023.

• Net operating income for Q1 2024 was $5.4 million, accounting for 61% of the total revenue.

• The company's adjusted EBITDA stood at $3.5 million in Q1, a 3.6% increase from the previous year.

• By the end of Q1, the company's cash and restricted cash were at $13.9 million, against a total debt of $192 million.

Business Progress:

• There was a noticeable increase in net operating income driven by performance improvements in the company's asset portfolio.

• The company managed to convert 26 parking assets from leaseholds to management agreements, contributing to Q1 revenue growth and efficient expense management.

• Mobile Infrastructure has made strides in tracking revenue data in real-time, providing a basis for implementing advanced pricing models and utilization tools.

• With the strategic hiring of Paul Gohr as the new CFO, the company aims to enhance the operational performance of its existing asset base.

• The company maintains its 2024 revenue guidance, expecting to achieve between $38 million and $40 million.

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