The following is a summary of the NV5 Global, Inc. (NVEE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• NV5 Global reported a 16% year-over-year increase in Q1 2024 gross revenues, reaching $213.3 million.

• Gross profit for Q1 2024 was reported at $112.8 million, marking an 18% increase from the previous year.

• The company also showed a significant improvement in cash flow from operations, which rose by 73% in Q1 2024 compared to Q1 2023.

• The company raised its full-year (FY) 2024 guidance for gross revenues to $937m-$942m.

• Adjusted EPS guidance stands at $5.05 to $5.11 per share.

• The company expects profit margins of about 17% and targets EBITDA in the mid-160 range.

Business Progress:

• NV5 Global demonstrated robust organic growth and increased cash flow, attributed to strategic expansion into new geographical areas, service lines, and technology adoption, particularly within Infrastructure and Geospatial Services.

• NV5's organic growth focus has resulted in a 7% quarterly growth in its infrastructure business.

• The company's introduction of software products NV Connect and NV Inform, as well as strategic transactions, have contributed to revenue growth.

• The company completed several strategic acquisitions in Q1 2024 to expand its international footprint and technology capabilities.

• Future business prospects include growing opportunities in data centers, energy, and the audiovisual market.

• The company is also realizing revenue and cost synergies from recent acquisitions and expects these to contribute to future profitability.

• Following acquisitions, there has also been a positive trend of increasing subscription-based revenues.

More details: NV5 Global IR

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