Otovo ASA (OTOVD) Q1 2026 Earnings Call Transcript
William Berger
CEO & Director
Good morning, and thank you for joining us for Otovo’s First Quarter 2026 Earnings Call. I am John Berger, Chief Executive Officer, and joining me today is Jennifer Santoscoy, our Chief Financial Officer. Please submit your questions in the event page, and we will address them at the end of our prepared remarks.
Moving on to the first slide. I will begin with our progress against the strategy we announced earlier this year. Jennifer will then take you through the financial results before I return to cover our business highlights and outlook for the remainder of the year and then open for your questions.
Q1 2026 highlights. In Otovo’s 2025 annual report, we made 3 commitments to our stakeholders. First, scale the business through accretive acquisitions at low multiples, organic growth and selective OEM and asset owner partnership activity across Otovo’s expanding geographic footprint. Second, tighten capital allocation, improve cash management, sharpen our execution and make better use of technology, including AI across Otovo’s platform and lower overhead by rationalizing less profitable operations. Third, invest in our Endurance system to create profitable operating leverage, expand EBIT margins and enable synergies in our M&A. We accomplished a lot in the first quarter. We acquired 3 customer portfolios in Europe, Solar Service Professionals and EnergyAid in California, more recently, SunSystem Technology in the Northeast United States and established a relationship with Green Panel.
We ramped up build service activity and grew membership to 20,000. We reduced operating expenses by $2 million year-over-year and improved adjusted EBITDA by $0.5 million. This was despite lower revenue due to our strategic pivot away from the Newbuild segment. The
