Via Renewables, Inc. Q1 FY2023 earnings call

• Keith Maxwell noted that adjusted EBITDA increased due to a rise in gross margin driven by falling commodity prices. - The company grew its customer base organically by 8,000 RCEs from the end of 2022. - On April 19, the Board suspended the dividend on common stock to enhance financial flexibility and strengthen the balance sheet. - Mike Barajas discussed adjusted EBITDA, retail gross margin details, higher G&A expenses due to increased sales and marketing, net loss details, mark-to-market changes, and dividend payments.

In the first quarter, Via Renewables reported an adjusted EBITDA of $18.8 million, which is a 74% increase from the prior first quarter's $10.8 million. The retail gross margin for the quarter was $40.3 million compared to $28.8 million last year. The retail electricity segment had a gross margin of $20.5 million in Q1 2023 versus $17.2 million in Q1 2022. The retail natural gas segment had a gross margin of $19.9 million in Q1 2023 versus $11.6 million in Q1 2022. Total RCEs were 339,000 in Q1 2023 compared to 387,000 in Q1 2022.

• The Board suspended the dividend on common stock to better manage the company and strengthen the balance sheet. - The company is closely monitoring market conditions to determine the best timing to reinstate the dividend on the Class A common stock.