I'm a low-tech guy in a high-tech world here, looks like. But anyway, thanks, everybody, for coming. And really, the purpose of this is of the event is for you to learn more about NV5. And we have close to 5,000 employees. We have over 120 locations. But the key thing that you are interested in is: what is our organic growth? How are we growing? And how can we work, all of our companies work together? So what we'd like to do is really give you a good overview of what NV5 is doing. You're gonna hear a lot of technical presentations, but the key thing to remember is, are we growing? How do we grow, and how do we interact with each other? So the meeting is the nexus of tech engineering and technology, and if you see the very first picture on the board there, that is an intersection that we'd like to show, and this will be later in the presentation. But the key thing is, how are we using technology to deliver those traditional services better? How can we use that technology so that all of the things that we do, we can do faster and more accurate, and get those results to you, the, to our clients? So what we would like to do for you to learn today is all the types of things that we're using technology to help our service offering that we're doing. So let's go through this. I'd like to have a welcome for people. I think you know this gentleman, and so the first thing we would like to do is welcome all of you. And so I'm gonna turn this over now to Scottie Scheffler. I think I am. Hey, all, it's Scottie here. I just wanna wish you guys all a great week at the NV5 Invitational. You know, I love playing that event. It was definitely very beneficial for me to get in the PGA Tour, and, you know, I love being there in the community and wish you guys all the best. Have a great week. So, that was very nice of him to do that. I wanna thank the the Western Golf Association, and all of our scholars, for the caddies, and this is a benefit that is for the scholarship fund that WGA is doing. And so to have Scottie Scheffler introduce us, we thought it was very nice. So if you go to the... Yes, good. The next slide is we have three main segments of our company: Building Technology, Geospatial, and Infrastructure. So what we wanna learn here is how all of those were called NV5. We have six verticals, but how do they all fit together? And how does this, with the main theme, grow the company organically, and how can we provide services better for what we're doing? So I would like to just let's go to the next slide. One thing we have to do as a public company is we have to make sure that what you've learned today is guidance, is not guidance, but it's simply, what our aspirations are, what we want to do. We have as a public company, in 2 weeks, we have our specific earnings call, but today you're gonna learn more of the inside working of NV5. How do we get to those numbers, and then what is our goals for our, our people and, and our investors? So the very first thing we wanna do is make sure that everybody understands, that we are not giving guidance, and this is not specific. So we've asked, Richard Tong, to, our General Counsel, to speak on what our safe harbor is. So, Richard? About 2 minutes, so feel free to kill me. Thanks, Dickerson. Thank you. Welcome, everybody. I just wanna remind everybody that this presentation contains forward-looking statements about the company's future business and financial performance, and they're based on current expectations, and there's subject to certain risk and uncertainties. In the presentation, non-GAAP financial measures are discussed. These non-GAAP financial measures include, includes Adjusted EBITDA margins. And all statements other than historical fact contained in the presentation, including statements regarding our future goals, targets, net revenue goals, EBITDA margins, targeted growth sectors, organic growth objectives, and profit margins are forward-looking statements. These forward-looking statements are based on current expectations of future events, and we cannot guarantee that any forward-looking statement will be accurate, although we believe we have been reasonable in our expectations and assumptions. Investors should realize that if underlying assumptions prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from the company's expectations and projections. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. All forward-looking statements we make are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements, except as required by law. Thank you. Thanks, Richard. Okay, we got that out of the way. This is what we want our investors to see, is what our people, what their goals are. So this is what we feel, we will be doing. It's a goal, it's aspiration. It's, may vary slightly to what we report in the second quarter, but we have a goal every year, for the last 4 years to be, our goal was to be $1 billion in revenue, by the end of 2024. And we're gonna do that. We're gonna make that. So, and that is a combination of how we grow organically, and then later in the meeting, we'll talk a little bit about where we've been and what are M&A. But this is aspirational. This gives a broad picture of, of those three segments that I talked about.... that make up a total of $1 billion. But there's a lot of working within that, and that's where our verticals come in. So if you, I'm not—I don't think I have a slide that say that, but I'd like to talk about the verticals that make up this $1 billion, and they are the six verticals, the key things. We're really NV6, but we're not changing the name, so it'll be NV5. But the six verticals Infrastructure group, which is mandated services, our Construction Quality Assurance group, which does the inspection for any new work. We represent big firms and in transportation, and in our vertical group, and that's our pro Program Management group, where the vertical presentation, or at least hear something where today we have our owners' rep group. So that, that's the third vertical. The fourth is our Environmental Services vertical, and it's transactional work, and it's also environmental health work. And that is an ongoing vertical. The fifth vertical that we have is our Utility business, and we do an awful lot with, and you're gonna hear a lot about that today, the things that we're doing to improve the grid and improve the things that we're doing. How many have I mentioned? Geospatial is one of our larger verticals, and that's our NV6, if you will. That's it. Thank you, Jeff. That's it. I got that right. So, today, you're gonna be really seeing from our younger people that, as you can see, I'm not 26, so you're gonna hear presentations from the people that are really driving these verticals, how it connects, and we want you to see that. So the very first thing is, we want to let you know, this is what our team thinks we're gonna do, and I can tell you right now, we will be in revenue $1 billion. And if you'll notice that our EBITDA and our organic growth is above the industry standard. We are in the E&C group, but we perform, we want to perform better than that. So, this is what we want you to know what we're doing and be part of. So anyway, our first group will be, presentation is our building technology group, and so I'm gonna ask Ben Heraud to... He's right here. Right here. He's here. Good. Okay. Thank you, Dick, and thank you everyone for attending today. We're really excited to showcase some of the areas of growth that, you know, that are driving the business forward. So if we turn to slide 6 here, and before I dive into the numbers, I just really wanted to emphasize the connection that we have within the company. You're gonna see a lot of people speak today. We are all working very closely together. You know, there's a pie chart up here showing different services, but all of these are interconnected, and as we talk through some of these in more detail, you'll see the flow of how one service leads to another. So, you know, in terms of our goal for this year, for the BTS group, it's $270 million of gross revenue at a 15% EBITDA margin. The organic growth is quite similar to what we were experiencing last year at around 12%. That's our goal. And some of the areas that we're gonna talk more about that are driving this growth is the data centers, our Clean Energy and Decarbonization group, and Building Digitization, which is an area that we've been working very closely with Geospatial group. So if I turn to slide 7, we'll talk about Clean Energy and Decarbonization. This, this is a group that's been growing organically, very significantly over the past couple of years, and that growth continues. It's a fantastic example of how one service leads to another. This group is often the tip of the spear. We consult direct to clients to help them understand how they can decarbonize their operations. What comes out of this consultation is a lot of projects that actually need to be implemented, and so we need to design them, we need to commission them, we need to oversee that implementation. So we may do a $250,000 consulting exercise, and that can lead to millions of engineering, millions of dollars worth of engineering work downstream. So it's a great way of us driving the growth of our more traditional services through some of these areas that are in extremely high demand. So we move to slide 8. Building digitization. This is a fantastic example of how we are leveraging technology to bring many different services within NV5 together. We were able to get into this space because of the Geospatial capabilities. The ability to be able to now scan a building, both the interior and the exterior, and create a point cloud, enabled our MEP group to convert this into a 3D working model of a facility. So if you imagine a 3D model of the building, we've created that through the scanning and now our capabilities of BIM modeling, so we're tagging all the equipment within the space. Couple that with, you know, over the last few years, we've showcased our data analytics abilities, where we pull real-time data out of facilities. We bring that into the 3D model, and we now have a digital twin. This is subscription-based. It's long-term. We're able to engage with the client right and deep into the operations of the facility, and we've become very, very sticky with the client. It's also very scalable because the algorithms that we create, through doing this, we're able to repeat and use over and over again. So it's an area that we think has a very high barrier of entry, but with our capabilities, we're able to do it. There's a lot of existing buildings out there, more than the ones that have been designed, and this hasn't really been done that much, so we have a lot of growth ahead of us in that space. So if we now turn to slide nine, I wanted to turn our attention to data centers. I know there's been a lot of interest and a lot of focus on this. We started out in this area organically. And then we've done a couple of strategic and very successful acquisitions that got us into this in a bigger way. And I want to bring Gary up here to speak about, he heads up our international operation around mission-critical and data centers, and he's gonna dive into this in a little bit more detail for you all. Thank you, Ben. Our data center mission-critical business is growing at its fastest pace, with a 31% organic CAGR and 50% when we count merger and acquisition in. We continue to command a very high margin, beyond 20%, that sets us for sustainable productivity, product profitability. With an addressable market of $200 billion, that is made up of the domestic data center market here, which is the biggest in the world, in the US, and the fastest growing in Asia, we have set ourselves an aspirational target to grow from $40 million to $400 million in 2029. That's a tenfold growth in five years. I'm gonna spend the next couple of minutes talking about some of the driver behind this growth, and how NV5 has strategically positioned ourselves to capitalize on these growth drivers. Now, the tech that is, you know, driving us through this is changing the way we live and we work, right? If you think of the data that we generate, the cloud service, you know, as Ben have said, you know, in NV5, using a cloud platform, digital twin, the software as a service. Our Geospatial group, that's gonna speak later, is also demonstrating us that, is how do we engage our client differently with these tasks? In all sectors, we're seeing digital transformation. Just considering the staggering amount of photos that we have generated last year, every day, on average, we upload 28 billion photos onto the cloud. I'm sure some of you own a 4K TV at home. A 4K video isn't 4 times larger than a HD video, it's actually more than 10 times larger, and that requires internet connection of 10 times faster. Speaking about AI, artificial intelligence, ChatGPT, and all these other generative AI technology, some of these are displacing conventional technology, such as your search engine. But do you know that a ChatGPT query actually uses 10 times more energy and electricity than a Google search? So behind all this evolution and growth, we need to build a robust infrastructure to support this, and this is a network of data center. A data center is a highly specialized building that hosts the servers, and the computers, and the processing power. And with a data center comes with the power delivery, the power that needs the electricity grid that supplies the power to it, and also the communication network. Recognizing this massive opportunity in front of us, NV5 has started transforming in the last couple of years to form this Data Center and Mission Critical sector. This is a sector-focused business group to serve a specific kind of client. And this strategy have worked really well in the last past couple of years, as you can see in our growth. The data center market have a very unique mindset because they're dominated by hyperscalers, colocation providers. They have their very bespoke design approach, you know, commissioning approach, operation mentality on their data center. Our strategy actually fits a lot, aligns very well with all their requirements. The whole world in the technology field is choked at supply chain, and our clients is the same. They're acquiring land here and there, so they're scaling up. Capacity is very important to them because it is the bread and butter of what they do. Capacity means meeting demand and staying competitive, by being competitive to our clients. So as they grow, we're growing with our clients. It is the first time that, you know, our clients have been disclosing to us the next 5-10 years of their development pipeline, and we're working with them in new regions as well. So not only are we growing in volume... Sorry, we've moved to slide 10. Not only are we scaling up in the volume of the work we do, we're also moving into high growth markets with our client. We're doing it with a very healthy backlog and pipeline. And with these new regions, we're using them as a base to sell some of our conventional services as well. We're also selling more of our other services to our data center client. We started with commissioning, now design, technical due diligence, power delivery, optic fiber consultancy, structural engineering as well. I just want to finish a little bit on the AI era that we're moving into. A data center is a that hosts, you know, processor. They used to be CPUs made by, you know, the likes of Intel. But with the new GPU that's coming in to power the data center, that's a totally different engineering approach to things that requires high intensity, high power, high demand on cooling. So I'll hand over to Andy, who's gonna talk a little bit about designing and building the next generation of data center. Andy? All right. Thank you, Gary. If you can just turn to page 11 on the presentation. My name is Andy Chang. I'm an executive director with NV5 out of the Irvine, California, office, and I oversee the US Data Center sector, focusing primarily on the AI market. So as you guys are well aware, AI has grown exponentially over the last several years, right? As a reference point, the AI interactive chatbot, ChatGPT, only came out in November 2022. It's still less than two years old. So this whole sector has been driven by the chip manufacturers, right? So NVIDIA, and then now AMD and others. With the intense demands that are coming from these chips, the big problems are coming in power and cooling. Right, so NV5 is actually really well-placed in that we have designated expertise in utility and substation design. Our teams are actually already engaging, just, you know, public utilities as well as private hyperscalers in increasing their power generation capacity, to support these data centers. We actually have team members who are also maintaining familiarity with upcoming technologies, right? So, like, nuclear is a big talk right now, and we actually have several key team members with a nuclear engineering background. With great power on all these chips is obviously cooling is a really important aspect, right? So I'd like to kind of explain to you, as Gary was mentioning, the impact this has. So today, we're talking a lot about air cooling and liquid cooling these data centers, and really, that's because air cooling these data centers is just not possible with the amount of heat that's being output. A single rack in a data center, so a rack is basically 7 feet tall, 3 feet wide, 3 feet deep. A liquid cool rack today, they're at and surpassing about 300 kW of computing power. Give you an example, that, that 300 kW is about the same as 100 single-family homes. So the air conditioning needed for 100 single-family homes in one rack is what the, that's kind of the problem that we're facing. We're hearing all these hyperscalers talk on MW and GW scale. So a gigawatt is between 300 and 400 thousand single-family homes that we're trying to air condition in a single building. Right, so we are going to all these very advanced technologies. You know, we have to find advanced solutions, and to do that, we are working with some technology partners like Cadence. We could turn over to slide 12. So on the cooling side, there are a couple challenges that we're facing. We've never seen this kind of influx of power and cooling required. By simulating, what we do is we build CFD simulations, computational fluid dynamics, so it's a pure physics-based simulation. We essentially rebuild the building and the interior of the building and every server rack, all the air conditioning systems and controls, and then we model it and run it in a simulation. We see what happens, and as this whole industry has been driven by the AI chips and the large hyperscalers, which we can't name due to NDA, but they are experiencing. We are seeing some challenges, but through simulation, we're able to develop solutions. So this is really important because there's a large supply chain problem right now, right? Everything from AI chips to the backup generators is they're having trouble acquiring this equipment. So by simulating it, we are finding that, hey, we're able to resolve a lot of challenges that we're seeing, design new approaches. We also noticed that this is a really good recurring revenue stream for us. When we design a data center space, the development and the changes on the AI environment have these customers coming back to us to resimulate the same spaces several times over, often-oftentimes in rapid succession. So as we build our portfolio of buildings, this is obviously a great thing for us. Yeah, so from there, we're experiencing right now approximately a 40% margin on that work. So that's very good. It ties us into the customers for the long run. The other really important piece of this is we work very closely with other groups within NV5, right? So we're doing this modeling of these buildings. Not only are we using our MEP team and our engineering team, working closely with Cadence's software engineering team, but inside NV5, we're using our geospatial scanning as well. We actually go into a data center, we'll scan it with a LiDAR scan. Using that data, we are able to accurately model a space than just about anybody else. There aren't too many engineering firms with this kind of capability in-house. This is why it's very important for us to work with our services in-house as well as with software experts like Cadence. With that, I'd like to introduce you to Sherman Ikemoto from Cadence. Good morning, everyone. Thank you, Andy. I wanted to thank Dick and Ben, Jack, Andy, for inviting me. This is exciting for me. My name is Sherman Ikemoto. I run global sales for the digital twin product line at Cadence, and we are working very closely, as Andy mentioned, to build business opportunities and partner on technologies. So let me move to slide 13, and then now to slide 14. What I wanted to talk about, in addition to the growth rate of the data center industry that we had talked about previously, there's another business opportunity that I wanted to highlight that we're working with NV5 on. There was a study done just a couple of years ago by the Infrastructure Masons. This is a well-regarded, data center industry, research group, and they identified that there's 105 gigawatts of built data center capacity in the world today. It's actually probably a bit more 'cause this is a, a two-year-old, data. But they also identified that there's 37 gigawatts of, of that 105, there's 37 gigawatts that is not used today. It's sitting there, drawing electricity, but empty, essentially. There's a reason for that, but before I go into that, that empty capacity is, costing about $1 trillion in total, total CapEx and OpEx costs over 10 years. So there's a lot of waste in the data center industry today, and we, we heard about the, the challenge in finding new power to build new data centers. Data centers are the market is gonna continue to grow, but in order to get new IT services up and running, the data center industry is gonna have to tap into this this stranded capacity. We're calling that stranded capacity zombie data centers. That's a term that is now being recognized in the industry. So there's a tremendous opportunity, and we're very happy to partner with NV5 to identify these zombie data centers and then recover that for customers. It's a major business opportunity. There's other factors also in the industry that is gonna drive data center operators to look into their data center portfolios, identify these zombie data centers, and utilize it. We heard about the lack of availability of power. That's gonna make people look for reusing their data centers more effectively. There's issues over environmental concerns, carbon emissions, availability of water. There's new regulations being introduced all across the globe that is gonna mandate data center efficiency and higher sustainability standards in the industry. So this is, as I mentioned, a major opportunity, and it's a greenfield opportunity. There is no standards today in how a data center needs to be managed for highest levels of efficiency. Sorry, I'm on slide 16 now. This is a data center management maturity model produced by the Uptime Institute, and the data center industry is still relatively new, no standards for efficiency, as I mentioned, and the industry now is at about a level 3 in maturity on this scale. In order to tap into that, those, that zombie data center opportunity, the industry needs to move up the scale to level four and level five, and this is what we're partnering with NV5 to try to achieve. Let me just give you a walkthrough of what we call the data center digital twin. This is what NV5 builds with our software for every data center they design. It's a design model. It helps lay out power, cooling, IT racks, and lay it out in a way that makes the operational and CapEx costs as small as possible. It's also a model that is... will be transferred to operators to use to manage their data center with services provided by NV5, and that's how we get to level four and level five in the maturity model, is through a digital twin implemented in data center operations for lifecycle management of the data center. So you can think of the digital twin as a virtual replica of the physical data center that is used to optimize all of the changes that a data center goes through, its entire life cycle, optimize it for efficiency, for minimal electricity use, for maximum reliability. So this is a new concept, and it has been deployed. There's over 2 million sq ft of data center under management for digital twins. We're just now tapping the market for addressing this zombie data center problem. On slide 17, this is meant to show the way that NV5 and Cadence works together. So we're a software provider, a provider of design tools for both design of data centers and performance-aware lifecycle management of data centers with digital Twin. And NV5 is our partner. They use the software for data center design, and once the data center design is finished, they transfer that model into a Digital Twin format and provide it to the customer, and then help the customer manage their data centers going forward into the future for maximum sustainability over the data center's lifespan. Yeah. Thank you, Sherman. Yeah, at this time, I'd like to conclude on our AI data center presentations. Are there any questions? Are there any questions that we have for any of the data center buildings? And if you want to get up there, we've got one here in the back. Yeah. Go ahead. Andy, really great presentation. Just kind of curious, this is a really competitive market, and it seems like the relationship that you have with Cadence and NVIDIA probably would give you a competitive advantage. Can you kind of walk us through that? Sure. Yeah, so NV5, we are engineering experts, right? Cadence are software experts. They have their tool is specifically designed for data centers, and they've also been established inside the data center market for quite some time. So we work really closely with the chip manufacturers, not at this point, it's also beyond NVIDIA to other chips. Again, as we're doing simulation, these chip manufacturers are starting to pump out these chips almost before they even understand what's really going on. So what we're doing is essentially taking the data, working directly with their engineering teams. We're able to start simulating these things and making sure that designs for our hyperscale clients are going to operate properly. So yeah, it helps us speed to market for us. I'd say we're at the bleeding edge of this. Yeah, I can add to that, too. I don't know if you're familiar, but the data center market is split between IT manufacturers and facility manufacturers. And this split, you know, Dell, HP, NVIDIA even, they design. They're experts at designing IT systems. And on the data center side, you have companies like NV5 and others building the buildings that these equipment go into. Traditionally, these worlds are separate. But what NV5 has realized is that the separation causes this zombie data center problem. It also causes reliability problems in data centers. So Cadence also realized that this split is causing problems as well, so we designed our software so that you can model the entire data center down to the from chip to chiller in one integrated platform. So you can design it and manage the data center as a system, as opposed to a separate building and IT configuration. And again, NV5 recognized the need to bring these two worlds together, and there was an interesting meeting at GTC this year, where in my experience, I've been in this market for 25 years or so, but in my experience, we had a unique meeting at GTC, where NVIDIA, the people designing the servers, were in a room with NV5, who was designing the building, and then Cadence, who provides the platform for all of this. And for the first time, we had a chip to chiller discussion on how do you get these high-powered units into a building safely and operating at high levels of efficiency. And we're gonna continue that work. So through the software, we're building an ecosystem of simulation components. NV5 is gonna be putting all these things together in simulations, and we're gonna see, I think, a new level of integration in the industry that's gonna address, again, the zombie data center problem and get us to this next level of performance for AI factories. Very well. We have another question here. You're reading a lot about Bitcoin miners shifting to AI now. Are you having to go in, or are you engaged in conversations to, with respect, are they having to retrofit or adjust on a larger scale, how they're managing that now versus what they're looking to be doing in the future with some of these AI, you know, hyperscalers and so forth? Yeah. So the Bitcoin mining process and the AI training process is actually quite similar, right? They're, they're very GPU oriented. So these conversations certainly, certainly are occurring to see, obviously, a lot of it is also revenue recognition and kind of the business model of what they're trying to accomplish. But yeah, certainly, it's to that point, a big part of this entire thing of modeling. Everyone's talking about the really big, trendy, multi-gigawatt, ground-up data centers, right? These big campuses. But the reality is, a lot of these hyperscalers are also looking at existing facilities and retrofitting them for AI. To do that, obviously, there's a lot of existing equipment, existing power limitations, sometimes physical limitations. So we need to figure out, essentially, how do we maximize the use of what is available, in parallel with the supply chain problems, right? So we kinda sort it out, experience all the failures. We don't wanna get equipment after a year of waiting and then have it fail on site. So that is, that's really a big part of what we're doing. We believe that part of the entire process moving forward is going to be to simulate, verify, and then build. We've got a couple of projects internationally that the clients are actually planning to retrofit. So we're doing a design that's switching from air cool to hybrid cool to liquid cool, and they just want to turn it on time when the demand comes in for AI. So yeah, that's all kind of in motion now. Thank you. Okay, so... Oh, we got another one. Are you able to speak to your backlog at all, or I should say, and/or I should say, just the availability of chips and how that may be affecting the progress? We were actually on a call yesterday, and they were talking about buyers basically stocking heavily with Hopper because they can't get Blackwell, right? As it relates to NV, NVIDIA chips. So can you maybe enlighten us a little bit on that, possibly? Yeah, I'd just say, I mean, we're working with almost all the hyperscalers, helping them solve a lot of these problems technically. So the pipeline that we have ahead of us, I think Gary mentioned earlier, we sort of are partnering with our clients, and they're giving us the five-year runway of their plan so that we can move with them and grow, grow with them. So- Maybe we can't disclose the numbers- Yeah ... but, they're seeing us as a strategic partner because, you know, the chips, it's changed their supply chain, but also consultants or any kind of data center providers- Yeah In the market, it's also changed. So they're changing the way that they engage us. They're opening, showing us, these are the areas we're in. ... Let's lock the rates down. So they're locking us down with rates for the next 10 years. So that, that's a very. You know, on one of our clients, you know, we started with what? 5 MW of data center, 5 years ago. Now we have secured 29 MW. I've had this close number, so that's probably 29 MW for the next 5 years. Plus, it's like across the whole Asia, just one time. Okay, very good. We have another question back here. You mentioned the big three of your kind of service lines within the BT segment. You got the data center, clean energy, decarbonization, building digitization. Can you break that out a little further for us in terms of size today and, you know, where we're going? Yeah. So in terms of the data, data center side of things, I think you saw the $40 million, and we intend to grow that significantly, and we're on track to significantly grow that just on the pace that we've been on and what we see in front of us, like the five-year plan. The building digitization side of things is fairly early on, and again, a big area of growth. So you would have seen that baked within the pie. And sorry, what was the other question around? The clean energy. Oh, the clean energy group? Yeah, so that's around $20 million right now, and that's without any other acquisitions. We're doing about 20% organic growth in that area at the moment. Okay, very good. We have one more question back here. Yeah. So this is more of a broader question for Building Technology, but I'm curious if you can speak to some of the cross-selling opportunities that are created from the projects and programs with other areas within NV5? Yeah. So, I mean, if we talk about the data center side of things and us working with most of the hyperscalers, we started off in quite a narrow band of services that we provide, was the design and the commissioning. We're now significantly expanding that, so that cross-selling opportunity is huge. We're moving into the infrastructure side of things and the geospatial. I think the clean energy group was a great example of that. You know, electric vehicles is a high area of growth. When we consult with a group on how to transfer their fleet from gas to electric, a whole lot of infrastructure that needs to be put in place. Our power delivery group handles that. So there are, yeah, many examples of where I think the buildings work follows on into infrastructure and geospatial. Okay. Thank you, Ben. We have another question over here. For more of the construction side. It sounded like a massive problem with how to cool these, obviously. Are they looking at new technology or different technology we may not be aware of, like geothermal cooling and cogen, like ways to harvest that excess heat and utilize it for some other energy? Maybe one of you, we've been doing some very cutting-edge stuff internationally in this, the oil bath, for example. The commercial cooling? Yes. I think the bottleneck is getting that very intense heat out and then using whatever conventional technology to solve it. So we've got direct pipe, pipe in, liquid cool, closed loop that pumps liquid in. And then the next gen that we're working on actually is to submerge all these data racks into some coolants that's not water. So we've started, we've seen some of these being dipped into mineral oil, glycol, like 3M are inventing the next kind of media. So that's putting them into liquid. Liquid has, like, more than 4 times heat capacity than the air, so yeah, it's much more efficient. And once it's in water, it's easier to eject that out via geothermal. One of the things we didn't touch on, too, was the growth that we're seeing international versus the U.S. I mean, we mentioned the moratoriums and things like that, but the power constraints internationally are not as significant as they are here. So a lot of these large hyperscalers that we're working with are able to grow a lot more rapidly, so that supports that growth, too. Great. Any other questions from anybody? All right. Oh, got one here. A lot of questions on the data centers. Yeah. I'll make this one quick. You outlined the $400 million target for 2029. Can you just- Can you... Oh. How about now? Well... Now? Yep. Maybe we prefer not to hear it, but go right ahead. All right. Go ahead. So you outlined the $400 million target for 2029. Can you maybe just share, as you envision it, how much of that is the international work versus maybe some of the domestic opportunity you've been talking about recently? Yeah, I would say, you know, we're in earlier stages on the domestic market, but we're making great inroads and a lot of examples. We actually have an example from Monday, where one of the very large hyperscalers we met with in Singapore, Dick and I were actually in the meeting, and then we got introduced to their global head of commissioning back here in the States, and we actually had a meeting with them on Monday, and opportunities are coming out of that. So I would say we're gonna continue to see the growth that we've been experiencing internationally, and you're gonna see a lot more growth coming on the U.S. side. There is just such a huge need for our services, both here and internationally. Thanks. Yeah. Thank you. Thank you. Okay. I just wanted to mention one thing. This is just one segment of our building technology group. We do a tremendous amount of other work in that whole group, and that's the technology. But we specifically spoke of how the growth of the data centers, but we don't wanna think that we're just limited to that. The building technology group does many other things. Mechanical engineering is a very big piece of that. Electrical engineering is a big, very big piece of that. Representing the owners and all of their needs are a big piece of that. The numbers that I gave, I just wanted to reconfirm, that's our run rate of 24. By... I was gonna wait till our next segment, but on July 31st, we've asked everybody in our organization, our leaders, to say, where are we going to be in 2028? So we're waiting for that number. So what you see here, the goal of $1 billion in revenue, is a run rate for 2024. There'll be a new goal for our growth in 2028. So what I'd like to do now, you've seen one of our key segments, which is the Building Technology Group, emphasizing data centers. Now I'd like to introduce Dan Levine, who runs our Geospatial group, and he will speak to some of the things that we're doing to bring technology to our current services. Thanks, Dick. I'm gonna go to slide 18. I wanna spend a minute talking about what we do. It's a question I get often, and sometimes it's kind of hard to explain, but I like to boil it down to what NV5 does in geospatial. It's really three things: We do mapping, land, sea, and air data collection, creating data products, and cartography or maps. Simple as that. The next area is services. Now, this is in providing analytics, sometimes to the data we collect, sometimes to the data our clients provide or provided through our clients, and that could be land use analysis, water consumption analysis, for instance, like we're doing for California right now, to so they can manage their permitting of water consumption. And then enterprise GIS also falls into that. So this is where we're creating custom solutions, bespoke solutions, or configuring applications that answer clients' problems, and integrating that into the GIS enterprise, which also integrates into the wider corporate enterprise they may use, so we can tie systems together. And then finally, software. So we have several commercial software products we sell, and it's primarily around image analysis, and we'll talk a little bit about that a little bit later, in the talk. And this organization and these capabilities were created by starting about five years ago, as Dick made the strategic plan to build a geospatial company. So the mapping is kind of keystone by the QSI and the Geodynamics organizations that were acquired. The services, QSI, also did a lot of that, but the Axim acquisition last year really added to that. And then this year, we acquired Geodynamics in the transportation space and added it to that as well. And then finally, Atonix and VIS both were software organizations that we brought into the fold. And one of the things that's really exciting when I came with the Axim acquisition was each one of these were market leaders in the space they provided. So what did we do with that? We've created the largest geospatial services company in the market. We expect a run rate of $320 million come the end of the year, running about 26% EBITDA, which represents about a 16% year-over-year growth. This is a powerful differentiator for us in the market, and I'll talk a little bit about that. The portfolio we have, as you might imagine, is also quite diverse. Within these three segments, we have many, many segments. We do many, many things within these. But those two things alone are very powerful in how we differentiate ourselves in the market. I'll give you a story for how size is handling that. We have a contract with five other vendors that compete for task orders for a power company in Southern California. Over the last year, they've realized that these other organizations could not handle the scope, scale, and speed of delivery. So all that work, and they just told us this a couple of weeks ago, is gonna start coming our way, and they just can't handle it with the other organizations. One of the interesting things about having this diverse portfolio that gives us an advantage, most of our competitors do not play in all these spaces. They don't—they either do mapping, they do services, or they do software, but very few do all of that. That's a unique qualifier for us. Our portfolio, though, it allows us to deploy early adopter technology to one sector in the market, where the other sectors kind of lag often, but by the time they're there, we're ahead of everybody else that's in that market because we've been doing it for three years. We have résumé, capability, equipment; all that stuff is in-house, and we just take that over. So it's a really nice, powerful strength. And then finally, our people. We've got some stats up here about our people. One of the things that I love about this organization is we have a lot of thought leaders that are driving data standards, application standards through the industry, and it gives us the competitive advantage as we're creating those standards, we're shaping them based on what the technology that we're able to deploy can do. A little bit about the growth areas here I've got listed. These are certainly not an exhaustive list, but some of our target areas. One of the ways we're expecting to leverage this growth is beyond just going adjacent or deeper into the wallets of existing clients, leveraging the capabilities on the Building Technology group and Infrastructure group. GIS or the geospatial team, we don't have that domain expertise that allows us to go big and broad, necessarily, in deploying the technology. But with the power of the Infrastructure group and the BTS group, we can take their capabilities, augment that. One of the examples is we're really good at deploying water utility asset management system. We don't know anything on the geospatial side about power, but that's one of our strengths on the infrastructure side. So taking that and opening up that book of business for us is one of our strategies. Vice versa, taking the technology prowess we have in the geospatial world and laying it on top of and integrating in the existing technology stack that those two groups also wield. Those are all growth opportunities, and what I've seen over the last year is that that's a growing and accelerating interaction within the organization. That's really exciting for me. ... So what I want to do now is hand this off to Paul Braun, our SVP of Corporate Development, and he's going to talk a little bit more in detail about how we're wielding our technology in the industry. Thanks, Dan. Morning, everybody. Good morning. Oh, that was pretty good. All right. All right, let's go to slide 20, please. I think just to build on some of Dan's comments, something that really differentiates us as a geospatial unit is we both build the tech and deploy that to our customers via the commercial software that Dan referenced, as well as these custom solutions. That's a very sticky part of our business because we've got hundreds of thousands of users across the world of that commercial software. That leads to software maintenance and that sort of renewal of, of revenue and so forth. But it also leads to them coming back with new ideas, new requests, and then the services team can come in. You'll hear that from Kurt, our, our, sales leader, in a few minutes about how those connections are really prospering. But we also use the geospatial technology to deploy. So, leveraging AI, integrating that into commercial software and some of our own proprietary solutions to really move the dial for a customer. Moving on to slide 21, I want to just comment on one additional differentiator, and that's scalability. Think about that in two ways. One is geographically. You know, we're GIS, geospatial people. We think about that as a hyperlocal. You saw in Ben's team that sort of mapping and geospatial tech about the insides of buildings. Historically, we're used to looking at the world from above, but that, you know, thinking about and bringing that technology to the hyperlocal all the way to the macro level. So think about the Eastern Seaboard, mapping the Ukraine when the Russians invaded, the Caribbean, I'll comment on. So we can scale. Most of our competitors might be good in a little piece of that, but our customers come to us with small and big problems, and we can scale them all and bring them the right capability. The other is from a technology stack and the complexities there. We can keep it simple, but we can also bring heavy-duty innovation. You know, listening to Ben's team talk about some of the cutting-edge things. We're doing the same things in our sensor and platform integrations, some of which John Whitman will talk about in the demonstration time today. We're also very mandate-driven. I'll just comment a few in the infrastructure and asset and risk management. Take airports, for example. Lisa will... Our Chief Growth Officer, will talk shortly about our growth initiatives. In the airport sector, one small example, Part 139, is driving new safety requirements at airports. Anybody trying to fly a week ago? Anybody got stuck at an airport when I feel sorry for the person who uploaded that technology and hosed all that-- all the Microsoft stack. But that drives home the need for safety at airports. You think about these are beehives of activity. So one example of that is Hartsfield-Jackson Airport in Atlanta, the busiest airport in the world, has been a customer of ours since 2015. We started there helping them with a very targeted business problem, which was managing signage and their artwork inside of the airport. Something you never really think about, certainly not from a geospatial perspective, but it's a very complex environment. Last year, they came to us, and we have replaced IBM's Maximo to effectively run the airport. So think about all contractor management, all maintenance management, and the driver behind that is safety. We are now presently integrating to things like their AVL systems, which have little trackers for every gizmo driving around that airport. We now are bringing that all together into a comprehensive solution. So when things go bad, like what happened last week, they have a very active and online sort of system to really manage it and deal with those kinds of challenges. Another common one is in the maritime infrastructure. Just thinking locally here, Lakebed 2030 is an initiative to map the Great Lakes. You know, only 15% of the Great Lakes is mapped at a high resolution, much of which hasn't been mapped in 100 years. So you think about what's under the water. So safety of navigation and from the ports, Port of Chicago, et cetera, of all the movement of goods and services, let alone cultural resources, and environmental. So, that's an initiative that's driving funding. We've been working with NOAA now since 2020 on the Great Lakes, bringing the vessels on. Anybody... You might have caught a vessel as you were walking in the door here. Hope you saw it. It's huge. You know, John and his team just pulled that out of Lake Michigan to bring it here to showcase that, and we'll see that in the demo area. But we've done over 20,000 nautical miles of data collection in the Great Lakes in the last 4 years. So we have been literally mowing the grass, and we have barely scratched the surface. We use that term from an aerial perspective. I guess it's the same when you got a boat in the water. But that is to understand what's under the water. And you think about it, it's been 100 years since anybody's really paid any attention, and we've already... John, you told me yesterday, we found a couple of shipwrecks and certainly identifying things that we didn't know were down there. So, that certainly makes me feel a little better. And then lastly, on the defense and intelligence side, a mandate there and a trend is near-peer monitoring. So we do a lot of defense work. We don't really talk about it publicly. That's something we kinda keep on the down low, to be frank. But, you know, the Defense Department, the National Geospatial-Intelligence Agency, and the Army, the Navy, the Air Force, Marines, et cetera, are asking for help to monitor our near-peer adversaries. That's China, that's Iran, that's North Korea, right? And they're saying, "I just want answers." Right? You can use the technology, so we do what we do best, which is planes, trains, and automobiles, and technology, workflows, and tradecraft, and bringing them a solution to help monitor and keep an eye on places. And so our job is effectively, think of it as tipping and cueing, to help them know where something's going, sort of, you know, something looks unique, and then they bring their power to it. It's an interesting trend there that is spreading throughout. We see a lot of that work and a ton of growth in that sector. And then lastly, slide 22, I wanna give you a couple of flavors of AI in action within the geospatial realm. Now, the dirty little secret about AI is you gotta build a model, right? Yes, you know, and ChatGPT is one of many of these large language models. They spent a lot of money, a lot of energy, you heard about it from our data center guys, to build those models. A lot of our customers want their own model because the thing they're looking for is unique to their geography, unique to their network, unique to their business, whatever, so something off the shelf isn't quite gonna work. Our commercial software has that ability to build your own models, whether you wanna look for cracks in the turbines of a wind turbines for your wind farm, or you wanna look for something inside of pipes of a water network, and on and on and on. That software we have enables our customers to build their own models, or when they need help, come to us for services. One example of that is this synthetic aperture radar. This is a technology that's been around a long time. It was used to map the moon and map the solar, the ice packs, et cetera, you know, 30, 40 years ago. But it's becoming a platform that, and technology we're accustomed to using now. The beauty of SAR is it sees through clouds. So when you think about forest fires, think about monitoring, you know, the entire middle of the earth, right, with all the, the weather. We can bring this technology to our customers, and you see in that dark picture in the with the black background in the middle on the left there, that is synthetic aperture radar monitoring, using our change detection capabilities inside of that software to monitor a port. So, you know, blue is new and red is old, is what we like to talk about. So that's coherent change detection. So you can build your own model, or we can give it to you. And then finally, on the right-hand side is an enterprise GIS example. This is more of, Dan talked about the sort of customer bespoke solutions. We have a KBC Advisors is a customer. They are a industrial real estate brokerage house, have a 100-plus clients. They spend a lot of time doing site analysis. It sounds a lot like our real estate business in some ways, right? So it's like we understand them, but we brought geospatial technology to them to give them a cutting edge. So we used generative AI in conjunction with the enterprise GIS to be able to do automated site analysis. So we took a 2- to 3-day process down to 2 minutes, and that was just a couple of tech guys spitballing technologies. And that, you know. So we now have an engagement with them that is more of just like, "Let's just keep generating ideas to see where you can help us take our business." So it's a self-exploration kinda collectively. So there's many, many examples, and AI takes so many different forms, depending on whether we're building it, we're deploying it, or we're sort of integrating it into something else. With that, I'm gonna hand it off to Kurt Allen, who runs our geospatial sales, and he's gonna get into our commercial software in a little more detail. Kurt? Thanks, Paul. Take my book. Great. Thank you, everybody. Good morning. My name is Kurt Allen. I'm responsible for sales for our Geospatial segment, and I've been asked to talk and spend a few minutes talking about our subscription-based revenue that comes from our software group. Before I get there, I think I have to back up a little bit, maybe 18 months, just to give you an idea of why did we get in the software business. I think that Dan and Paul kinda set it up pretty well by talking about, you know, the pieces of the geospatial life cycle, the pieces of things that we do. The software group really gives us a full-service look to be able to provide that scalability to our clients. About 18 months ago, the L3Harris Visual Information Solutions Group was carved out and was up for sale. We were very interested in it. The reason we're interested in it is 'cause we've been using their tech for about two decades. We were a client of theirs. And so based on that interest, based on knowing where they were in the market and how much of the market they had penetrated, and really understanding what their client base was, we decided to give it a look and submitted an LOI. But what really got us interested is when we got a chance to see what they were doing in development and how. And we visualized how we could use their software to get into new markets. And what we were able to do is look at what they now call the ENVI ecosystem, which is new products that is now going to be tailored for the cloud. They've migrated to the cloud, but they've done it in a way that doesn't cannibalize their existing software base. Everyone who's in the geospatial industry knows what ENVI is and what it's capable of doing. It's one of the most advanced image analysis software that's out there. It's the gold standard. SARscape is the gold standard for synthetic aperture radar analysis. So we had those two products, but they've been on the desktop. What we've been able to do now, though, and what we're scaling out with, is two additional products, ENVI Connect and ENVI Inform. ENVI Connect allows, let me back up. ENVI, if you think about ENVI, ENVI was designed for the imagery scientist, researchers that, that are, that are trying to do a lot of research and development-related stuff for federal agencies or around the world. There's more than 500,000 users of that product. When we look at ENVI Connect, what they're focused on is they're focused on what we call the power user. The folks that are not necessarily turning the software knobs up, you know, from a research perspective, to try to, to try to generate the perfect. They, they're generating the good enough because they want a solution quickly. They wanna be able to make decisions based on that data, and they wanna be able to collaborate with a lot of people. And so the cloud allows us that collaboration, and that, that is what ENVI Connect is. ENVI Inform gives us automated monitoring services. You think about when Paul talked about change analysis. We can bring in thousands of satellite scenes through ENVI Inform automatically, and then automatically run some of the ENVI tools within Inform to be able to give you answers up to the minute, day after day. And that's what ENVI Inform allows us to do. With those two products, again, no cannibalization. The ENVI Inform is focused on decision makers, and we can marry that with Esri tools in order to be able to give front-end dashboards to be able to allow the decision makers to be able to see the data up to the minute. We're also planning for the future. It's one of the things that I wanted to focus on as well, and that is, we sell our software to more than 1,000 universities around the world. Those universities are teaching students and graduate assistants our software. What we are creating is really kind of our own employee base to be able to grow. At the same time, we're also creating future clients. But it is a big part of the ENVI business, and that is continuing to grow. It's surprising to me. Secondly, it's like, I don't know if any... I'm getting old enough, I guess, to now have to go to the doctor on a regular basis. Imaging technology is in the medical field as well, and we have more than 100 hospitals that are using our software. We have, you know, CDC, National Institutes of Health, they are, they're using it as well. It is well established within that base. And just imagine, think of that client base. We really haven't even talked about healthcare when we talk about engineering services or we talk about geospatial. There's a lot of other services that we can offer those 500,000 clients. Last thing that I wanted to mention is something that I think about three quarters ago, Dickerson asked me to be on an earnings call, and I talked about kind of an anecdotal stat that I had, and that it was one of our early adopters of ENVI Inform was a Fortune 500 mining company that had wanted us to be able to help them analyze hyperspectral information, hyperspectral data, and they were interested in buying our software. Our account executive asked a lot of questions and found out they really wanna be able to have a repeatable event and be able to set up a workflow to be able to do this. We ended up selling them an ENVI Inform product, subscription-based product. The services associated with the software-enabled services associated with that sale was five times larger than the software sale. It's not as anecdotal as it was when I had mentioned it nine months ago. We have major oil companies now doing the same thing, in which we just sold more than EUR 1 million worth of services work based on the software business. So that's where we're really kind of excited. It's one of... Dan mentioned it, it's one of our growth initiative, and that is subscription-based services. We are able to make that happen. So with that, I think the Geospatial group will be ready for questions. All right. Very good. Thank you, guys. Any questions from the audience for the Geospatial group? Whoa, lots! Here we go. I think, just wanted to get a sense of the growth opportunity in these new services and cloud services, you know, maybe as a multiple of where you're at today and what steps you need to do to realize that growth opportunity. So in cloud, we look at cloud and kind of from two... You mentioned the three areas that we're in, mapping, services, and software. On the software side, we're definitely seeing the cloud expansion. It's expanding greatly from a very small number. We'll start with that. But, you know, like I said, we think that we are going to exceed double-digit growth on the software enabled services sector with respect to the cloud. We also, on the enterprise GIS side, are very involved with cloud managed services, and maybe you could talk about that for us first. Yeah. One of our lines of business in the enterprise GIS is the cloud managed services. So, city, county needs their GIS just managed for them. They don't wanna keep it on-prem, so we'll stand it up in the cloud and provide services to keep it fed and alive and ticking. Similarly, for the software, we can be doing that as well for our clients. Does that answer your question? Okay. All right. Oh, here you go. Thanks, guys. We all passed that vessel on the way in. What are some of the advantages that NV5 has in mapping in, ocean floor mapping? ...So our differentiator, I guess, is probably the space of the ocean that we do. We work. We're prepared better than anybody else, and that's from really near shore to, say, continental shelf, 200 meters deep. The vessels we have, the certifications we have that allow us to operate under certain conditions, Coast Guard certifications, safety certifications, we are out ahead of that. And also our vessels. We have several vessels that we call endurance vessels. They can go out and not come back for a week to 10 days. But we'll have two full crews. They switch out, and really, what drives that is we got to go get more food. So, and I guess another thing, it ties to our aerial mapping. We do a lot of what we call topobathy, where we're doing near shore and inshore. So we have this complete mapping of the elevation data from onshore all the way to 200 meters deep. I'd also just add to that, you know, a lot of our competitors are really focused on multi-beam collection, data collection, which is sonar. What that allows them to scan the ocean floor for just like you're looking from the air for elevation derived data. It's seafloor-derived data is what they're looking at. But the other aspect of what we do and what we're very good at is the marine geophysical collection. So we can collect all sorts of sensors, you know, seismic information, geophysical information, and that's really been really important for the offshore wind market in particular. So they need to know what's down there and before they can put a wind turbine in the ground. Great. Any other questions for Geo? We got to have more than Ben's team. That's our goal. Excuse me. So that, 26% margin goal that you guys have, just for clarification, that is 2024, or is that, farther out that we're looking for that? That's heading through the end of the year, yes. Like, exit rate, 20. Okay. So that's one. And just to that point, maintaining profitability in this segment has been a bit of an issue over the last few months, last few quarters, I should say. How far down the organizational chart is the responsibility for profitability within this segment? And then secondly, what is the path back to that mid-20s EBT margin? Where, how do you get there? So we're organized within the mapping services and software structure that I mentioned. We're actually organized that way operationally, and then within that, there's P&L leads. And that's where the direct responsibility and accountability is for maintaining that. A number of ways of getting there. Better contracts, for one, but also efficiencies and some of the stuff I'll talk about this after the end, in the demonstration, is all about efficiencies, getting stuff done quicker, faster, with less people, allowing us to do more faster. So kind of bandwidth capabilities, expansion. I'd like to just interject. Profitability has never been a problem for our Geospatial group, so I'm not aware of who had asked the question, but EBITDA is a very big thing for them. I think they have something like 10 investors and what you're seeing out, just a demonstration later, but depreciation and amortization is very big. But they normally will run between 20%-26% profitability, and the lowest I've ever experienced that being is about 20%. So I don't know. I mean, I think I heard, and maybe I didn't hear it correctly, but I heard that there was a problem with profitability or budgeting. That isn't really the case in the Geospatial group. Any other questions? Yeah, I was just wondering, how do you plan to expand geospatial services? Yeah, I think, you know, annually, we look at that and, frankly, quarterly and monthly, we talk about that. It... And it, it's all about expanding wallet of existing clients and going adjacent. And as I mentioned earlier, leveraging the capabilities on the rest of NV5, that we just have-- We've stayed away from work because we didn't understand it, but now we've got the people that do understand it. And frankly, going from just doing water utility asset management to power utility, you're adding zeros and commas pretty quickly. We just couldn't do that, but we certainly got the scale, the technology, and the people to do it now. So those are some of the things we're looking pretty hard at. Hey, I'm John. First-time caller, long-time listener. Thank you for, thank you for being here. Now, so, the work that you're talking about with the real estate market and being able to identify real estate for developers, KBC is one of them. You're also doing one for one of my big clients, which I really appreciate. And, I'm just wondering how we can take that work that you're doing and translate it into work in other verticals, other areas. How do we go from one place to the next? Yes. Specifically, talk about traffic engineering, because it's really the only thing I care about. Well, I think one premise there is best practices. You hire a 23-year-old, walks in just with a college degree, you know, how do you enable those people to do high-end, high-quality work, but also sort of build the repository of knowledge that NV5 has? So, you know, we were talking before the event here about how code and how we have this repository so that, you know, when we write code, when we build a solution, that goes into a repository that allows the next team- ... to take that. So, you know, our account executives spend a lot of time talking about what else can I bring to that customer to, to grow that market? Well, the technical folks are doing the same thing, is: Have we built that before, so I'm not building this thing for the first time, right? And that's where you get this, one of the ways you get the scale and the speed to delivery. So, I think now this one NV5 mindset of let's have more direct discussions, and, and, you know, Lisa, you've been driving some of those about talking about transportation holistically, 'cause we do end-to-end. Talking about water resources, et cetera. And that's when you see the synapses fire, and let's go talk to our customers about other things we can do. It's really, you know, it's kind of a, it's bunts and singles in many ways to kinda get things going, right? And that KBC example was that. We went in there as cloud services. That's what they hired us for, is just make that stuff work. And then it was like, "Oh, wait a minute, you can do more for me," right? And so off you go, and you grow, you grow the account. And we have stories like that in, with Ben's group, and, Rick, Robert, CHW as well. So it's happening, and as I said earlier, that kind of thing is accelerating within the organization. Okay, well, I think we're done with questions. I'm gonna hand it back to Dick. Thanks. Thanks, guys. Good job. One of the key things about NV5 that I just want to reassure people, the Geospatial group was very limited in the power and the energy generation, so they're using the NV5 platform. In fact, they were not-- they were barely present in California, which is a huge energy market. So now all 120 offices, what we're key looking for is, what edge does the Geospatial group do to their, our existing client base? They do, and we'll speak about that later. I think Robert's here. But our typical surveying work that we do for the Departments of Transportation, now through Geospatial, we can map much greater areas and which is really required for the DOT work. And our Geospatial group is really benefiting from the relationship that we've had with utilities and with transportation and with our core business for the whole year. So the key thing for this meeting is, what technology are we delivering to our clients to bring things further? I'd like to introduce now, Alex Hockman, who manages our third segment. Now, we've mentioned two already, the Building Technology and Geospatial. Now, what is our Infrastructure, that third segment? And it's wonderful to be in a mandated business, and so I don't wanna be mentioning too much of what Alex is saying, but just a kind of a factoid to use: Every single year since 1960, and Alex, if you're gonna mention that, the population has been growing. And so, you know, people only ask, "I'm not gonna drink water if the economy is bad." You know, there's such a demand on the resources of the Earth, and that's what Infrastructure group delivers. So, every 12 years, the Earth's population grows by 1 billion people since 1960. So in 1960, there was 4.5 billion people on this earth. Now there's 8.5 billion, and it just, it keeps growing. However, there's a finite demand of resources, and so Infrastructure group has all of those challenges, from delivering energy to delivering water, to delivering better roads, all of those things that are in demand on that. So, our last group is our infrastructure, and the key tie-in, though, is how do all of these things give NV5 the competitive edge to deliver those services? So I'll bring Alex up now. Thank you, Dick. Please turn to page 24. I'll be discussing infrastructure. Infrastructure is obviously one of our reporting segments, but it's also an end market, and it's a crucial end market for every business in all of NV5. It's our interdisciplinary and integrated approach that truly is a key differentiator for NV5, and we'll discuss that further in the presentation. On a large scale, our infrastructure, we have a goal of a run rate of $420 million-$410 million as we exit 2024, at a 15% EBITDA margin and 10% organic growth. When you think of infrastructure, and you see the wide array of services that we provide, some of the key elements to remember is, as you've heard, mandated, but it's also demanded. What do we mean by that? If you want to build something, what do you need to get? A building permit. Do you have a choice? You can't actually do some of these projects without going through the steps. So what we provide are the services that allow you to actually complete your project. What's also critical is that it's not just the CapEx side. We provide services throughout the entire life cycle of a project, and this is in our core infrastructure business. Now, with respect to the $410 million, that is just the revenue generation for the infrastructure reporting segment. It's actually much greater when you look at the entire organization. Within this group, we also have another of growth initiatives. One is our sustainable infrastructure. Another is the ability to grow within Departments of Transportation, and that's just not for the infrastructure vertical, it's the integrated approach that we have. You'll hear about the opportunities that we have with our Geospatial group and how we're bringing that into our growth initiative with Departments of Transportation. We also have our utility, transmission, and distribution. We just had a recent hurricane that went through Texas, and what's the complaint? When we talk about demand, power went out. How willing are you to be without power? So when we talk about demands, you have a road, you get traffic buildup, you wanna see a new highway, you wanna see new roadways. If those start to deteriorate, how willing are you – what's your willingness to actually have potholes in the roadway? So we have certain expectations. That sets up the demand for the types of services we have. So our first discussion will be on sustainable infrastructure, and I would like to invite Joe Menzer. Is Joe available? Joe? Joe is our Director of New York City Operations, and he's also a leader on sustainable infrastructure. Page 26, for everyone who's following along. Appreciate that, Alex. Thank you very much. So you've heard from our BT and our Geospatial groups, and technology's been the driver in their growth. What we're seeing on the infrastructure side is the need for BIM and digital twins as part of our growth as well, and that's driving our collaboration with the Geospatial group. Together, we have that general competitive advantage, where we bring a lot of the geospatial requirements that are needed on our infrastructure projects for developing these BIM models. And a lot of that coordination and collaboration has already started. There are a number of projects that we are working on together. Give you a kind of little background on why this technology is really important on our infrastructure side. There was a study recently completed in New York City on about 5,000 projects. The study started in 2019, and it looked at a group of 5,000 capital projects that the city was procuring. The total cost of those projects in 2019 was $77 billion. By 2022, the estimated cost of those projects was $148 billion. So almost doubling in a 3-year period of time onto the cost to construct these, design and construct these projects. 60% of those projects were behind schedule. 20% of them had delayed starts as well. So there's a real need to find a technological solution to drive efficiency in the design and procurement of data for capital infrastructure. Wrong way. Sorry. I often use this analogy about utility infrastructure below streets. I think it's pretty apropos here. So city streets and infrastructure below city streets can sort of been likened to a human organism in some ways. You have all these systems, and they're interconnected. A surgeon actually doing surgery would know exactly where those systems are, how they're interconnected. Under a city street, we have no idea where anything is until we actually open up the street. We don't know where it is, we don't know what condition it's in, and so there are numerous unknowns that really drive the cost of infrastructure projects, the beginning cost, and then the end cost with all the change orders that build up over a period of time. So what we're doing, or what we're thinking about, is how could we peel back the street, right? How can we understand what's underneath the ground before you even start designing and starting construction? And so we're using technology to get there. So between a combination of old school construction and scanners, we're actually scanning the underground areas and mapping them, and then laying that over record documents to understand what the differences are. And in doing so, we're taking that data and then building these BIM models and digital twins that allow us to eliminate a lot of the unknowns in capital projects. And those become the basis for us developing contract documents, and even in some cases, we've had state DOTs issue BIM models as the actual final product, not a set of construction documents, and allow contractors from that point to take those BIM models and build from them. So it's a complete difference in the paradigm of what we're used to when it comes to developing final design documents, and we're very well prepared to meet those challenges here with our technology groups. One good example of that work is the work that we've done, and there's a video I'm gonna run here for Red Hook Coastal Resiliency. This is a $200 million FEMA-funded project in Red Hook, Brooklyn, that NV5 was the lead design team for. We developed these simulations based on BIM models for the actual neighborhood. And so the BIM models are what drove the design and the engineering behind it, but these visualizations on top of those BIM models allowed us to effectively communicate with the stakeholders and with the community so they could understand how we were implementing the project. So it's a combination. The BIM models give us the background and then allow us to build on top of them so we have these visualizations, both whether they're renderings or whether they're videos, that allow us to explain our work to people that are non-technical and move the project forward. One of our initiatives, very much tied into this, is actually building a visualization studio to support all of NV5 and be able to do these types of visualizations for all types of projects across the country. With that, I'll turn it over to Robert, who'll talk a little bit about what's happening in the Southeast. Thank you. Thanks. Thanks, Joe. Robert Walpole, I'm COO of Florida. We're gonna move to slide 29. So, Florida is right for growth for NV5. As the third largest state in the nation, and I think on April 1, we hit 23 million individuals living in Florida. Our growth rate's about 1.6%, so 375,000 people moving to Florida every year. And as Dick mentioned, they suck up resources, our roadways, et cetera. So I came with a recent acquisition in January, which brought over about 140 employees, 4 additional offices, so we now have about 10 offices in Florida. With that also came capabilities that NV5 didn't have in Florida. We have landscape architects, construction engineering inspections, traditional civil engineering, and transportation. It also came with some major contracts that we have with the Department of Transportation. So we hold landscape architecture contracts, contracts with Department of Transportation for roadway building, and some major survey contracts as well. So with that, we're very excited of how we now will, will bridge the gap and do that. Also, what's exciting is our, excuse me, our ability to then bring other service lines into what we've been doing. We've recently won an 8-mile survey contract with the Department of Transportation that we would have traditionally surveyed. We're not gonna do it traditionally anymore. Geospatial is actually gonna do that for us, and we'll be able to deliver to the Department of Transportation a product that's not only better than our traditional survey, but much quicker. The goal in Florida, though, is to take those nine offices and actually double our revenues in the next four years. That's our goal. With that, I wanna introduce Linda Reardon, who will talk about the rest of the United States. Thanks, Robert. So you've heard about some of the ways we're leveraging technology from Joe, and Robert just told you about the exciting growth in Florida, and I'm gonna pull back out, and we're gonna look at what we're doing throughout the rest of the country. We're now on slide 30. So we see significant opportunity for enhanced organic growth in this sector. We're looking at increased infrastructure spending, unprecedented investment by the federal government in transportation infrastructure, and we are well-positioned to capture that funding. This year, we kicked off a national transportation growth initiative. We appointed one of our best DOT seller doers, Todd George, my counterpart on the West Coast, and he is leading that initiative, which is a group of our most experienced transportation leads, working together to build on the great relationships with clients that we have already established, and to expand our services to new geographies and new clients. So that's been exciting. It's akin to the national traffic initiative that we have. John Karnowski is here today, and you can speak to him later. But so we've kicked this off. It's already up and running. We're hiring a subject matter expert in design- build is coming on board in August, and we are going to. That's a key part of our strategy. Also, we are leveraging the capabilities, the technological capabilities of the Geospatial group as they apply to infrastructure. There are many applications. We're problem solvers. There's many applications that geospatial brings, where we can use those applications to solve real-life engineering projects and bring efficiencies to our clients. Just last week, we met with the New York State Thruway Authority, and we presented to them Geospatial's remote sensing technology for evaluating bridge decks. This is something that DOTs across the country struggle with, the resources it takes to monitor and evaluate bridge decks, doing it manually, impacting traffic. There's a technological solution for that, that we have the unique ability to bring. Going back to our slide, one other point is that we also, of course, are cross-selling by leveraging our traditional services, such as CQA. Just this year, we co-located our CQA Infrastructure group in North Carolina, and that, in turn, has enhanced the cross-selling ability between those two groups. But we are the preferred provider for many DOTs throughout the country. I'll speak about New York. We're working for virtually all of the agencies and DOTs that touch any transportation project in the New York metropolitan area. That's over 75 professional services contracts. Some of these are targeted specifically to handle federal dollar projects. Our federal on-call within New York City has a value of $30 million, up to $30 million in design fees. So we have access to some really exciting large infrastructure projects. Very quickly, Hunts Point, at the bottom left of the slide, is a $550 million New York DOT design-build project that we worked on. Top left is California High-Speed Rail. In California, we have over 100 professional services contracts. We've been with High-Speed Rail since 2014, and in the first quarter of this year alone, we secured $60 million in contracts with Caltrans. On the bottom right, the Southeast, we're seeing double-digit growth. Our access point to large transportation projects there is through our surveying and planning groups, and through those groups, we are completing projects. Carolina Bays Extension, that's a 20-mile expansion of that facility. Another, it's a $550 million construction value, and we're widening a 20-mile section of I-95 in North Carolina, again, a $530 million project. And then, as you can see from the map, that we're working for DOTs all across the country, and through the initiative, we'll be strengthening our footprint in this space. And lastly, as Alex mentioned, I want to talk about sustainability and resiliency, because these two factors affect every single-- inform every single project that we do. For we have always been leaders in the space of sustainability. We worked with the Institute for Sustainable Infrastructure since its inception at the with the Zofnass Group at Harvard. We helped develop the rating system that's used to evaluate infrastructure projects for how well they are meeting sustainability metrics. We have practitioners who conduct those ratings on behalf of ISI, not just for our projects, but we're hired by clients to do it for peer projects as well. Joe showed you one of our coastal resiliency projects, putting that together in terms of our coastal geospatial mapping capabilities. We expect to see a lot more of that type of work as we go forward. So with that, I'd like to hand back to Alex, who's going to talk about power. I'll start on page 31. Our organic growth target for our Utility Power Group is 20%, and right now we're generating over $200 million per year in this particular service area. It expands just beyond the infrastructure as well. It includes operations that we have within geospatial, and if we look at a particular project, maybe just to give a little bit of insight, somebody wants to develop a utility has to have a transmission line. It will start with our Geospatial group. Our geospatial will fly it. We'll be able to get the LiDAR, all the information that we need. It then goes to our survey group. We then have our geotechnical engineering services provide their services well to determine what type of foundations may need to be necessary for the pole. It may be to evaluate what type of tunneling or excavations are necessary. Civil engineering gets involved. In some cases, power utilities, they have to cross bridges. We have our structural engineers involved. So when you look at the entire process, we're able to touch every single piece of it in a very unique way. When you look at the drivers of the industry, this particular slide will give you some of the drivers and give you an insight as to the type of money that's being spent. $62.5 billion in grid modernization. Of that, $50 billion has already been committed and approved by the regulatory agencies. When you look at the clean energy as well as the reliability and resiliency, what's taking place with electrification, with the EV, right? And that also crosses over. Our EV group that does the analysis resides within our infrastructure vertical as well as our BT vertical. Each has different areas of expertise, and we bring that together so that our client just has to come to one place, and we're able to provide that interdisciplinary and integrated approach. The idea that we've talked about many times when we have our independent meetings with Dickerson, it's like, I'd like to hear what you'd like to think, but what does our client actually want, right? So what we need to do is figure out how do we deliver projects to our client in an easier manner, easier to understand, easier for them to contract, as well as being able to reduce the cost. If we go to the next slide, this is a great example. Why do clients want to work with us? It's got to be 2 or 3 reasons. If it's more than that, it's too complex. We've got to be able to provide the service at a better price. We have to ultimately be able to have them be in a position where they can then take the technology, the advantages of the technology that we have, and ultimately be able to use that to their benefit. So specifically, we have an example here. We have over 700 miles of experience underground power utility lines over a 4-year period. And look at the cost. When we started that in 2019, it was $5 million per mile. It's now less than half, $2.4 million. That's the ability that we have in terms of being able to provide that integrated approach, use the technology to be able to reduce the cost, and ultimately, our client is happier, and frankly, everybody in the room is, because we're all utility customers. So that ability for us to be able to have our technology integrated with all the services we provide and ultimately deliver that service to a client in an easier and more cost-effective manner, is what gives us a unique and key differentiator. With that, we'll open the infrastructure floor to questions. All right. Very good. Thank you, Alex. Oh, got a question right here. All right. Please join in. Mark Barron here from San Diego. Hey, Alex. Hello. We have this infrastructure bill coming out. I mean, it's out, and there's probably a lot of projects that are still in the pipeline that are going to be coming out. ... mostly with transportation, I think. What, what is our plan on growing the Transportation Department relationships? Great question. So one of the things that Linda had alluded to was that we took—his name is Todd George— Todd was our Chief Operating Officer for our West Infrastructure group, primarily focused with Caltrans DOT. And essentially, we took him out of operations just to focus our entire organization that provides infrastructure services on how we can better be united and provide a wide array of services to the DOT. And that's not just for Infrastructure group. that also includes our Geospatial group. When you look at some of the images that were shown in geospatial, what were they of? Highways. Their ability to map a highway at an incredibly much faster rate than we could ever do it with traditional survey, and that's something that was also discussed in Robert's presentation. Robert, you may want to elaborate a little bit. And safer, too. We're not putting people at harm's way by mapping the way we're mapping geospatial. And part of our growth in Florida is most of our growth is gonna be in the transportation world. I mean, Florida has one of the largest funds available for transportation, and we're gonna leverage what we had was great relationships with the small firms that NV5 has created. Now, we're part of a conglomeration of infrastructure people that can deliver projects of the scale of which are being built in Florida right now. I mean, if anybody's been to Orlando and seen the multi-billion dollars that they're spending through downtown Orlando, have been for the last years, but there's a potential for growth there that's absolutely incredible. You know, I'm telling you today, we're gonna double in four years. It could be even better than that with the transportation groups, so. I'm just curious what NV5 is doing to improve on the delivery of energy in the US. So we have aspects that are both from Infrastructure group as well as our Geospatial group. So some of the things that we're doing, in particular, in order to create a hardened or more resilient system, is designing how we can underground our transmission lines. But we also have numerous lines that are above ground, and that is where our Geospatial group comes in. On an annual basis, or you're more than welcome to come up, they're gonna fly the line, so they have both asset management, they look at vegetation management, and one of the newer areas you may want to comment on is surveillance and how you're looking at the safety aspect of our grid. Now, you're dead on. As we see this digital transformation, one of the things we know, and Linda and Joe, you both talked about that, we don't know where stuff is, power companies, the transportation, and utilities. So actually, we're a day or two away from signing a really nice contract in the Northeast for power distribution to basically do asset management or asset collection, so they know what they've got, and they can use that to manage their resources there. The veg management is a big deal, and frankly, that's part of what I talked about earlier, where we basically took over a contract from other smalls because we have the scale and capability to do that. So that's absolutely a growing area for collectively. Any other questions? I think just wanted to talk more about the growth in Florida. Seems pretty strong. Is that so the cross-selling efforts you're putting in, or is there... I assume there's other activity in Florida as well, but maybe just clarify what's driving the growth in Florida. Well, I think it's twofold. One, we're gonna have a fairly strong focus on transportation, where a lot of the dollars are going. But we're also part of what my role is, is to cross-sell. So BT, for instance, hasn't been big in Florida, but the acquisition and where I came from, we have a plethora of architects that we work for, hundreds of them across the South United States. We're making introductions, and we're getting traction already for BT to be coming in and providing MEP services, traditional MEP fire services to our architects. Geospatial now is also. They, they're able to come in on most of our projects now as well, so places where they weren't before, as well. I'm looking at growing Private Provider, CMT, CQA services as well. A lot, a lot of acronyms. Yeah, sorry. So that's a third-party building? Third-party testing, bringing those to our client base as well. You know, we had about a 6,000-client base, you know, so we're actually looking at bringing all of those services in. So all the verticals will benefit from the Florida growth. Joe, I had a question for you in regards to the technology that you guys are using in, in the city, in New York City. Can you expand a little bit more on that for us? Sure. I mean, one of the pictures here on the right-hand side is actually from a project in Midtown Manhattan. We're doing a lot of alternative delivery in New York as well, where this technology is really critical for the speed at which those projects need to be delivered. So, we're working currently on a design-build project in the middle of Midtown Manhattan, right by Grand Central Terminal, reconstructing Lexington Avenue for about 6 to 6 blocks. And you can imagine the amount of utility infrastructure that's in Midtown Manhattan to deal with, with all the commercial work that's happening in the city. And so this technology is allowing us to understand exactly what's in the ground, currently, before we actually get out there and do construction as part of this design-build project, design-build project, which actually mandates that we design and construct the entire project in 2.5 years. So that's just one example where this technology is really gonna help us meet that schedule. And, hopefully, based on that, there'll be a lot of other opportunities to integrate this type of technology into future design-build procurement projects. ... If there are no other questions, Dickerson, please come back up. Thank you. So those are the three major segments, but the key thing is they, they're not siloed. We all work together, and it all leads to other work. Organic growth is extremely important. So we've taken another person out of operations that can really have an initiative to grow our business. And so I was going to introduce Lisa Kay. Wake up, Lisa. Oh, here she is. Okay, Lisa had her own company, came to us four or five years ago, and now she is really dedicated to just growing our business organically in that world of clients that are out there. So she has under that initiative, we have the DOT initiative with Todd George out of operations. Now we have Lisa Kay out of operations to grow the rest of the segments of our business. So, Lisa? Thank you. Thank you, Dick. Almost good afternoon. Good morning. Really happy to be here as Dick mentioned. I'm now Chief Growth Officer, leading our growth with an overall organic growth goal. My absolute focus is on that organic growth and helping our teams and working closely with our existing clients and targeting new clients to achieve those growth initiatives. As you see, we have a number of growth initiatives. You've heard about many of them today. Some are national, some are regionally focused. Each of them is multidisciplinary, bringing together our engineering and our technology capabilities across multiple verticals. Our short-term strategy is growing our existing clients by adding additional services to those clients. Our longer-term strategy is winning some large contracts and positioning now for those future large opportunities. So let me give you a specific, very quick, because I know we've got very limited time, and Jack's giving me the evil eye. A quick example that will illustrate among the others that you've heard today, what I'm talking about. Right now, while we're sitting here, we have a team of our subject matter experts meeting with one of the largest public works agencies in the U.S. This is a client we've had for a couple of decades. We've been providing environmental services to them. And in that same region, our geospatial folks have mapped that entire area, so they've done all the geospatial mapping for a sister agency. This agency serves 10-- more than 10 million people over 4,000 square miles. They're responsible for flood control, transportation, storm water management, and we have been providing for them some specific solutions with their green infrastructure, storm water capture and use, where we go in and we operate and maintain those systems for them, boots on the ground with our infrastructure folks. We saw the opportunity. They needed a system to be able to manage that from their desktop. So we brought in our geospatial team to provide what was referred to as bespoke solutions and develop a data system, custom software, that will help them and plug into their back-end software using the electronics from their devices in the ground to get real-time monitoring of what's going on in those devices, as well as data capture, so that they could report to county board of supervisors. How effective are they? How well are we spending and using that $300 million of taxpayer money every year to implement and maintain these systems? That's what they're spending. So right now, today, that client, another division of that main client, has asked that we come and talk to them about what can we do in the digitization realm beyond this. Again, remember, they manage flood control, they manage roads and bridges, and so we're meeting with them today and talking to them about the kind of solutions that you just saw. We have existing contract vehicles, and we're looking to expand this relationship. This is one example of what we're doing with focused growth. This one is an example that came out of the Southern California initiative, but we're doing similar with all the initiatives, taking key large clients where we have the opportunity to expand and increase our organic growth substantially. I know we're short on time, so I'll call up Dick Wright again. Oh, boy. Hopefully, we have a better view of of how integrated our, our operations are. I did wanna mention, one other, key aspect. You'll notice Richard Tong was here with us. We have three full-time attorneys. Richard managed that group, but risk management is very important. You've heard a lot of contracts going, a lot of things we're doing there. So I would... I want you to know, at the NV5 level, Richard's team reviews every contract. We look for, for the, can we do the work? We don't, you know, big utility contracts, we realize they're not gonna change, but it's Richard's group that makes sure our people know what we're- they're doing, we have the adequate insurance. So I just don't, you know, knock on wood, we, you know, we don't—we're trying to avoid a catastrophic event that would cause our problems. So everything we're doing, we have—we wanna make sure that everybody knows we have the adequate insurance, and we have to have that under our risk management group, which is headed by Richard. So I just wanted to mention that. What I would like to do now is, can we go to the... Is that it? That's it. What does all of that mean? We will do $1 billion of gross revenue, and it's our goal for the end of 2024, and I, you know, I may know some things that we certainly don't wanna share today. But we're not good just because we say we're good. We do a lot of work in meeting with other people, but how are we measured? How are we measured in our industry? We know of no other competitors or group in our industry that has the profitability that we have. We're not leveraged. We're rolling in companies, but our ratio, Ed's here somewhere, is around one- 1.5x, and normally, private equity and other firms will go up to a leverage of 5x the profitability of what they can borrow. So we're doing things mostly out of cash flow. We really want to have the initiative to grow for our organic growth. So those are the things that we're trying to do, and we think it's a great opportunity now because our capitalization is down, our stock has been higher. We think it's... We think we're gonna grow. The last thing I wanted to mention is after this slide, our official webcast, there's a lot of people listening from around the country that will not be able to see some of the next things that I'd like to show. So this is gonna end our, and those who've participated by webcast.