Base Carbon Inc. (BCBN:CA) Q1 2026 Earnings Call Transcript

Operator

All right. Good morning, and welcome to Base Carbon’s Investor Town Hall. We want to thank you for joining us today. And it is my pleasure to introduce Michael Costa, the CEO of Base Carbon, who will begin today’s call with his opening remarks.

Michael Costa
CEO, Founder & Director

Thank you, Lindsay. Good morning, everybody. As always, grateful for people cutting out the time for us and for this update. It’s been a bit since we’ve talked to you live like this. I know everybody saw or most people probably saw the investor letter as of the end of the year, which we will make an annual tradition within Base.

Before I begin speaking about the company and the quarter, our lawyers want to continue to be employed, and they remind me that there are very, very small print forward-looking disclaimers that everybody should read and be aware that there are forward-looking statements here.

So now that I’ve kept the lawyers happy, let’s jump into it. Before I get into numbers and talking about carbon markets and carbon credits and our business, I want to — in my very unique personal way. But I want to give people an analogy to think about because I really think that this is what’s going on in our market. Imagine that somebody — and this somebody is the airlines, by the way.

But imagine that somebody is a homeowner and you got 2 problems. Number one, the roof is on fire. And number two, your hot water heater is on its last leg and needs to be replaced. What do you do first? Do you worry about the roof