Greetings, and welcome to Pioneer's 2023 third quarter financial results. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brett Maas, from Hayden IR. Thank you, Mr. Maas. You may begin. Thank you, and welcome. The call today is being hosted by Nathan Mazurek, Chairman and Chief Executive Officer, and Walter Michalec, Chief Financial Officer. Following this discussion, there'll be a formal Q&A session over the participants on the call. We appreciate the opportunity to review the third quarter financial results and discuss recent business highlights. Before we get started, let me remind you that this call is being recorded and webcast. During the call, management may make forward-looking statements. These statements will be based on the current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to the cautionary text regarding forward-looking statements contained in the earnings release issued earlier today, which applies to the content of the call. I would like to now turn the call over to Nathan Mazurek, Chairman and CEO. Nathan, please go ahead. Thank you, Brett. Good morning, and thank you all for joining us today. We also have, Geo Murickan, President of Pioneer's e-Mobility business, essentially our e-Boost business, on the call as well. The quarter's financial results included a doubling of revenue and strong profitability, demonstrating the value of Pioneer's products and services, as well as a reflection of the underlying strength of our target markets. Revenue of $12.4 million for the third quarter is a record since divesting our transformer business in 2019. Higher sales, lower input costs, and a favorable product mix drove net earnings to $0.10 a share, up from a loss of $0.13 a share a year ago in the third quarter of 2022. We expect to achieve our full-year revenue guidance as well as positive net income for the full year 2023. We also expect to enter 2024 with accelerating momentum and a record backlog and plan to announce more formal guidance for 2024 early in the new year. Our outdoor compact E-Bloc power solution for the distributed generation market and our e-Boost high-speed mobile electric charging suite of products continue to penetrate new markets and gain additional traction in currently served markets. First, E-Bloc continues to benefit from the rapid growth of the distributed generation market. Raw demand for electricity continues to grow, and the grid's ability to satisfy this growth continues to decline. The result is accelerating power usage, higher power costs, and reduced reliability and supply of power. The E-Bloc product platform, at its core, integrates an automatic transfer switch, circuit protection scheme, and programmable controls into a compact outdoor unit. This allows the user to protect and control two or more sources of power concurrently, potentially even in parallel, located in one unitized piece of equipment. This limits the user's installation cost, avoids expensive and disruptive indoor upgrades, and directs them to one point of responsibility for the seamless flow of power. To date, Pioneer has provided E-Bloc solutions to a multitude of Fortune 500 companies across verticals such as retail, data centers, electric vehicle charging station, automotive, and aerospace. In addition, Pioneer has provided dozens of E-Bloc units to electric and water utilities as they supplement their operations with alternative sources of power. These long-term trends will continue to support our growth for the next three to five years with clear annual visibility. Next, our second major product growth driver is e-Boost, which provides mobile, high-speed electric charging. We deliver this mobility via truck, skid, trailer, or pod-type physical platform. To date, we have provided units ranging from 30 kW to 400 kW with up to 4 power dispensers per unit. We believe our recent commercial successes, for example, the city of Fairfield, California, to support their municipal fleet of electric buses or a Big Three automaker to support the rollout of their autonomous taxi business, foreshadows a massive energy transition market intended to be implemented over a long period of time. Customers, in addition, customers who ordered single units early on in our commercialization have already placed follow-on orders. Additionally, the market for e-Boost keeps expanding. Municipalities are electrifying street sweepers, garbage trucks, police and fire vehicles. Airlines are going electric, transitioning their ground service equipment to all electric, and mining and construction companies are demanding electric options for the equipment they use as well. All these users require mobile, powerful, rapid, non-grid-connected charging solutions, and e-Boost is perfectly positioned to support these electric transitions. Year to date, e-Boost has charged over 12,000 vehicles and provided more than 200 megawatts of charging to electric vehicles.... Additionally, at a major East Coast Airport Authority, they have been charging, on average, 3 electric buses/cars a day for the last 9 months. As the revenue and backlog for e-Boost continues to grow, it is clear that e-Boost has come a long way from the truck-mounted prototype we unveiled exactly 24 months ago. e-Boost is no longer a concept, but rather a proven solution for a growing need. All this positive momentum will carry us into 2024, and more specifically, we fully expect to quadruple e-Boost revenue in 2024. With that, let me turn the call over to Walter, our CFO, to discuss our financial results. Thank you, Nathan, and good morning, everyone. Pioneer's revenue during the third quarter was a record since divesting its transformer business in August of 2019. Third quarter revenues were $12.4 million, up $6.2 million, or 99% when compared to the same period last year. Revenue from the T&D Solutions segment, which manufactures our E-Bloc power systems and related equipment, increased 156% to $9.7 million. Revenue from the Critical Power segment, which manufactures our mobile high-speed electric charging solution, e-Boost, was up nearly 13% to $2.8 million in the comparable period. Gross profit for the third quarter was $3.7 million, or nearly 30% of revenues, compared to a gross profit of $861,000, or approximately 14% of revenues during the third quarter of last year. This significant improvement to gross profit was primarily due to the increase in sales of our E-Bloc power systems and related equipment, lower input costs, and improved productivity. Total operating expenses, or SG&A overhead, was $2.7 million, or 22% of revenues during the third quarter of this year, an increase of 20% when compared to $2.3 million in the year-ago quarter. It's important to note that SG&A expense includes approximately $600,000 in incremental investments in sales, marketing, product development, and personnel expense for our e-Boost solution, a drag of about $0.06 per share on EPS. This is intentional and targeted spending designed to drive demand for this new solution. We expect these investments to continue through the remainder of the year as we build and scale this new business line. Finally, higher wage costs, including salaries, benefits, and stock-based compensation, caused SG&A expense to increase during the third quarter of this year when compared to the same period of last year. Operating income for the third quarter of this year was $953,000, a positive swing of nearly $2.4 million when compared to an operating loss of $1.4 million during the third quarter of last year. Our T&D Solutions segment, which manufactures E-Bloc, is delivering consistent positive operating income to the tune of $2.7 million during the third quarter of this year, an increase of $2.5 million when compared to the third quarter of last year. Net income for the third quarter of 2023 was over $1 million, or $0.10 per basic and diluted share, compared to a net loss of $1.3 million, or negative $0.13 per basic and diluted share during the third quarter of 2022. A $2.3 million increase to the bottom line, or $0.23 per basic and diluted share in the comparable periods. Excluding non-cash stock-based compensation expense of approximately $285,000, net income per basic and diluted share during the third quarter of this year was $0.13. Looking briefly at the year-to-date results. Total revenue during the first nine months of the year was $33.1 million, an increase of approximately $15.6 million, or 89%, when compared to $17.5 million during the first nine months of last year. Revenue from the T&D Solutions segment increased approximately 145%, and revenue from the Critical Power segment increased approximately 14% in the comparable periods. Gross profit for the first nine months of the year was $8.6 million, or 26% of revenues, compared to a gross profit of $1.8 million, or 15.5% of revenues during the first nine months of last year. We generated net income of $827,000 during the first nine months of 2023, at a positive swing of $5.4 million, or $0.54 per basic and diluted share when compared to a net loss of $4.6 million during the first nine months of 2022. Again, excluding non-cash stock-based compensation expense of $1.2 million during the first nine months of the year, Pioneer generated net income of $0.20 per basic and diluted share. Including stock-based comp, our net income per basic and diluted share for the first nine months of the year was $0.08. This is compared to a net loss per basic and diluted share of $0.47 for the first nine months of 2022. Turning to the balance sheet, we had cash of $7.6 million and $0 bank debt as of September 30, 2023, compared to $10.3 million of cash as of December 31, 2022. Our cash balance at the end of the third quarter represents cash per share of approximately $0.76. Accordingly, we are confident that we are sufficiently capitalized to address our near-term investments and cash needs. This concludes my remarks. I'd like to now turn the call back over to Nathan. Thank you, Walter. Our addressable markets are massive, and almost every day, new use cases from current and potential customers emerge. The energy transition era is real, and Pioneer is at the forefront of it, offering proven and competitive solutions. With that, I'll now turn the call over to the operator for any questions from investors. Thank you. We will now be conducting a question-and-answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your questions from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. The first question comes from the line of Amit Dayal with H.C. Wainwright. Please go ahead. Thank you. Good morning, everyone. Thank you for taking my questions. Good morning, Amit. You know, the available capacity... Congrats on the strong quarter, by the way. You know, you did $12.1 million last quarter, $12.4 million this quarter. Is this indicative, you know, of you guys potentially, you know, at these, at these revenue levels? You know, you know what, the guidance we gave for the balance of the year. It's gonna be, I think, somewhere in the $9-$12 million range. It really depends. We're not deep enough in the quarter yet. Depends who's taking, who's not, some stuff that we move up, we constantly are in flux with certain customers, especially electrical utilities. But that's a decent range. You know, we haven't come out with guidance for 2024 yet, and that, I think, will give it more, you know. Our fourth quarter will be done by then, and we'll also be looking early in 2024 out for the whole year, so we'll get a little bit of a better look. You know, we're still a small company, so, you know, one or two jobs at $2 million plus each, slipping or accelerating, make a difference. I, I wouldn't. Short answer is, I wouldn't read that much into it. We kinda try to do our best job on an annual basis, and the quarters are gonna be a little bit uneven still. Understood. I appreciate that. On the e-Boost side, Nathan, you know, you said you potentially could quadruple revenues, you know, for this segment. Will that potentially come on the sacrifice of any E-Bloc capacity or revenues, or is this basically on a standalone basis, you could, you know, quadruple from these levels on the e-Boost? Yeah. Yeah, good question. I mean, they're made in two different facilities, so the e-Boost is done in our facility in Minneapolis, and that can be done without any additional space or without any additional capital investment. That would probably take us to the max there for calendar 2024, and you know, during the course of 2024, even now, we're trying to figure out you know, what happens afterwards. But that doesn't affect the E-Bloc business. The E-Bloc business this year, or its related product, out of the facility in Los Angeles, let's say by the end of the year, we'll have shipped in product, I don't know, $35-ish million, give or take. That's pushing the capacity to almost statistical 100%, and, you know, we get asked all the time, you know, what are we gonna do for 2024? So we're already in the process of really subcontracting the lowest value processes that we do, you know, basic sheet metal or, or standardized sheet metal, even busbar, without making a large capital investment, so that we can use the facility and the personnel in its highest and best use, which is really to, to engineer, wire, and assemble, and test, E-Bloc-type product. Understood. Okay, thank you. And then just last one, again, on maybe the e-Boost side. You know, these, these customers and folks who are coming back to you for repeat orders, you know, is there a larger runway within these existing customers, you know, before you even need to maybe, you know, find new buyers for these products? Yeah, I mean, the- again, we're gonna do more formal guidance at the beginning of 2024, but on the e-Boost side, it's really from three big buckets. It's repeating customers that are repeating, so, and those are typically truck and electric bus manufacturers. They have a long way to go. Their runways are very large. You're talking about with most of the ones that we deal with, they'll have, you know, anywhere upwards of 100-250 dealers around the United States and Canada. So there's a long way to go with units just with them. It's coming from new use cases that we really don't anticipate. That's the other bucket. Whether it be an electrical utility that's got the rural, remote issues, and they're being tasked with charging, or in the case that we've announced earlier, you know, VinFast, that's bringing in thousands and thousands of vehicles from Vietnam and need mobile charging at the various ports that they bring them in. We started with them in the Port of San Francisco. It's moved to the Port of Los Angeles. They expect to be bringing in material into the Port of Jacksonville and other ports as well, and continue to love and need the solution. And then it really comes from fleets, fleet management companies to a large extent, and, you know, they, they made orders of initial sizes and so forth, of what they thought, and that's getting traction among the fleets that they are managing or hoping to manage. That's also a long runway for follow-on orders. Thank you, Nathan. That's all I have. I'll get back in queue. Okay, pleasure, Amit. Thank you. Next question comes from the line of Manny Stoupakis with GeoInvesting. Please go ahead. Hey, I'm sorry, I jumped on a little late. Maybe you already addressed it, but back to the guidance for the rest of the year. I know you—I think you touched on the revenue side, but I believe the way the guidance is given, EPS could still be a loss for Q4. Is that what you're expecting, or do we expect to be positive on the EPS side? Right. So the short answer is we expect it to be positive. You know, how positive? I really don't know until the, you know, with the revenue and the mix plays itself out. And of course, you are technically correct. You know, we, we guided towards positive EPS for the year, so theoretically, at this point, we could lose $0.07 and still be positive for the year, which is a great position to be in. But, but thank you for bringing this up and teasing this out. We, we don't have any intention of being, negative in the fourth quarter. Okay. All right, thank you. With your 2024 guidance that you talked about, will you be giving EPS guidance when you guys give out? That's the plan, yes. Okay. All right, thank you very much. You're very welcome. Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Scott Weis with Semper Capital. Please go ahead. Thanks for taking the call. Great quarter. Sure, Scott. Thank you, Scott. I have a question on the gross margins. 29% was terrific, and I think it's the best you've ever done. Is that number sustainable going forward? That's a great question, Scott. You know, it's definitely something, you know, once we've tasted it, you know, we don't wanna move backwards. We shoot for 2025. That's, you know, that's how we base a lot of the analysis and guidance going forward for 2025. But we definitely see that we have the ability to stretch in certain cases. It's really gonna depend, you know, on the continued spend on the e-Boost and when e-Boost stops being a drag on earnings and break even, and then hopefully, you know, be a contributor. So that's a long-winded answer to your question. Okay, well, that's a good segue into my next question. At what point do you expect e-Boost to stop being a drag and start to contribute? Can you give us some color on the timeline? Yeah. So I think it should stop being a drag, you know, what's a drag? But I think it should mitigate a lot of the loss and the spend somewhere in the second quarter of 2024 and start contributing in the second half of the year. I think the first quarter will be some advance in that area. Not enough to say that it's, you know, close to break even, until a little bit later. Okay. And then my last question is, after the Q2 call, you called out water utilities and data center as highlights of your end markets. And can you comment on your end market growth that you saw in the Q3, and how those two end markets specifically did, and then any surprises to the upside or the negative side? Yeah, I mean, it's only to the positive side. They continue to... You know, I probably didn't do a good job in the comments I made earlier, but at this point, we're across so many verticals. You know, when we call them out, then everybody's thinking, you know, "Okay, what about this one, that one, and so forth?" It's everywhere. Data continues to be strong. EV charging stations are super strong. Water utility, though, that is the heart. I mean, water utility and the large automotive project that we did were the heart of the third quarter. We fully expect that, especially on the water side, we expect that to continue. That's a large, large untapped market with a customer that is ready to spend and is not sort of bound by... They have different spend considerations than a more commercial customer. Great. Thank you very much. You're very welcome, Scott. Can't wait to see you again soon. Thank you. Next question comes from the line of Albert Jones with Jones Capital Management. Please go ahead. Thanks. Very nice quarter. Quickly on the gross profit, the 29.8% of revenue, I imagine that was a lot of it was going by sales mix. Can you tell me if the sales mix for the fourth quarter is trending different than the third quarter? It's trending sort of the same. You know, part of it is, you know, as far as the type of product, you know, you know, every day, you know, we live in a dynamic human world. So how well did we execute? Did we hit the hours? Did we make a mistake on some components from a material point of view? So I don't have all that data. The product mix is still a beneficial, you know, is a good product mix, something I would hope overall continues through 2024 as far as product mix, but I don't have a, I don't have a more drilled down view on the profitability of the jobs yet. And the fourth quarter is not over. Yeah. Yeah. Okay. Thanks. One more quick one as far as the revenues were quite good. Did all orders get shipped out, or did any possibly move into a slight delay to being shipped fourth quarter or first quarter that you could talk about? Yeah, I mean, that's every quarter for us. So if you ask me every quarter, the things get shipped out, the things get pushed out, some things get accepted and pulled in, happens all the time. So I'm not sure where you wanna go with it, you know? That's the nature of the business. You know, the quarter customers, especially the larger one, not interested, you know, that September 30th is the end of our quarter or whatever that means. So I'm not sure what you're trying to uncover. Just, well, you know, the talk on the macro side of some of the U.S. car companies are making delays to their orders on the EV side because of the slow uptake, supposedly. You hear this every day on the business news. Yeah. So, you know, my question was kinda related to that, you know, on that side. Yeah. So I understand your question better now. Sorry. Yeah, we're not seeing in our space and the markets that we're after, for the most part, we're not seeing any slowdown whatsoever. Doesn't mean it won't happen and doesn't mean that we're immune from anything that's happening, but even, I mean, even orders that we took from the autonomous vehicle division of a certain automaker and so forth, and despite, you know, what we read, that some of those businesses are incurring bumps in the road, the opposite. They all call to make sure that we're full steam ahead and that they've invested a lot of money into these businesses, and they have every intention of giving it, you know, their all for the next several years. Great, thanks for clearing that up for me. I appreciate it. One quick one. In the prepared remarks, you mentioned some larger solutions. I know you had a huge install in Las Vegas that you talked about in the past as far as that goes. Are we talking even larger or something on that size scale? What are the newer customers talking about as far as larger solutions from you? Yeah. Again, I'm not, not sure specifically. I don't remember anything in, in Las Vegas. You know, we have shipped, you know, a couple of jobs there if I try to rack my brain, but I, I'm not sure specifically what you're referring to. The order mix has been going, especially on the E-Bloc side, you know, it's the ticket sizes get bigger and bigger, the projects get bigger and bigger. You know, we announced earlier when we received the order from the large automotive business, you know, of $9 million. I mean, that's the largest that we've ever taken, you know, post the selling of the transformer business, probably even before that. So this year has been anchored by some large orders like that, and then a lot of orders more in the, I guess, you know, $200,000 range and everything in between. So I don't know if that helps at all or if there's something more specific. And we expect the same in 2024. It's gonna be anchored by some very large projects and then, you know, a lot of the smaller ones or repeats of certain units if you're a retailer or somebody else with multi locations. All right. That's all I got. Thanks, guys. Have a great day. All right. You too. Thank you. A reminder to all the participants that you may press star and one to ask a question. Next question comes from the line of Bruce Galloway with Galloway Capital. Please go ahead. Hey, congratulations on a good quarter. I'm just trying to- Thank you. Delve into the numbers a little more. It looks like e-Boost is probably gonna do about, you know, $8-ish million this year, $8-$10 million, and you said a quadrupling next year. So that, does that imply about $30-$40 million? And also, on your capacity issues, for E-Bloc, looks like, you know, maybe $35-$40 million is full capacity, and how much more can you squeeze out from that plant? And I guess the demand is way more than that for next year. What do you think you could, you know, increase those sales by, like, 30, 40%? Yeah, so I mean- Also, my second question is the share count went up by, like, 400,000 or 500,000. Is that mostly, you know, compensation for the executives? Okay. I mean, we'll. I'll answer the first two, and then I'll let Walter go through the third, the options, but I think that you are correct on stock-based compensation and some other awards that we gave to employees. But I'll go backwards then. From a capacity point of view, I think we talked about a little earlier on e-Boost. Yeah, we'll do about $35 million, more or less, this year out of the Los Angeles facility, and that's what I call statistical 100%. We've said several times, but we'll say it more formally now, you know, we're in the process of subcontracting out certain, I guess, lower value-added processes that we perform there, like some of the metal bending, some of the copper bending that we do. We traditionally grew up just doing everything. We expect that to probably increase the capacity there more than 50%. I don't know exactly how much. You know, if it works out amazingly well, you know, it'll be closer to 100%. If it doesn't work out so well, maybe it'll be a little bit below 50%. We'll see as 2024 unfolds, even though we're sort of at the beginning of that right now. Yeah, and e-Boost, yeah, the, the little trick there with e-Boost, so the e-Boost sales, you know, I'm doing it by units. A lot of what you see in critical power is some of it's not related to e-Boost. A lot of it's not. A lot of it is pure service work that we still do. So, let's use. I'm glad you raised it because we should have actually had it in the remarks and been more formal, and maybe next call and next release will be more formal. But e-Boost sales this year will be somewhere over $1 million. Now, that includes rental income as well, so there's, you know, a more expensive unit behind a longer-term lease. When we say quadruple, you know, quadruple is easy, frankly. That would be $4 million. Again, we haven't done the formal guidance, but we're kinda using rental income and product sales of about $10 million additional sales next year related to e-Boost. So maybe that, that helps a little, at least be more clear to you. Okay. All right? Yeah. Yep, that's good. Okay. Thank you, Bruce. Thank you. There are no further questions at this time. I would now like to turn the floor over to Nathan Mazurek for closing comments. All right. Thank you all for your time and support. We look forward to updating you as we win additional projects and more formally update you on our next earnings call. Thank you. This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.