Via Renewables, Inc. Q2 FY2022 earnings call

• CEO Keith Maxwell mentioned that in the second quarter, adjusted EBITDA was $13.3 million compared to $14.4 million in the second quarter of 2021, with the decrease attributed to rising commodity prices and higher customer acquisition spend, offset by a $4.4 million add-back related to Winter Storm Uri. • Total RCE count increased compared to the second quarter of 2021 due to several customer book acquisitions in the second half of 2021 and lower attrition in 2022. • Closed on a new $195 million credit facility at the tail end of the second quarter, providing additional operating flexibility. • CFO Mike Barajas stated retail gross margin for the quarter was $23.7 million compared with $26.4 million last year. G&A expenses were $13.6 million compared to $10.7 million in the second quarter of last year due to various factors. Total RCEs in the second quarter were 368,000 compared to 347,000 in the second quarter of 2021, with attrition at 3.1% down from 3.3% year-over-year. Net income was $12.5 million or $0.18 per fully diluted share compared to $24.8 million or $0.58 per fully diluted share in the second quarter of 2021. • Dividends: Quarterly cash dividends on Class A common stock and Series A preferred stock were paid on June 15 and July 15 respectively. Second quarter dividends on common stock and preferred stock were announced to be paid on September 15 and October 17 respectively.

In the retail electricity segment, gross margin was $16.7 million in the second quarter of 2022 compared to $21.7 million in the second quarter of 2021. This was due to lower unit margins driven by increasing commodity prices and a slight decrease in volume year-over-year. In the retail natural gas segment, gross margin was $7 million in the second quarter of 2022 compared to $4.8 million in the second quarter of 2021. This increase was attributable to higher volumes, partially offset by slightly lower unit margins.