Arrive AI Inc (ARAI) 2025 Q2 法說會逐字稿

Good day, and thank you for standing by. Welcome to the Arrive AI Inc., second quarter 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.

您好，感謝您的支持。歡迎參加 Arrive AI Inc. 2025 年第二季財報電話會議。（操作員指示）請注意，今天的會議正在錄音。

I would now like to hand the conference over your speaker today, Kylie Conway, Senior Marketing and Communications Manager. Please go ahead.

現在，我想將今天的會議交給你們的演講者，高級行銷和傳播經理 Kylie Conway。請繼續。

Thank you, Daniel, and good afternoon, everyone. Thank you for joining us today. With me on the call are Dan O'toole, Arrive AI's Chairman, CEO and Founder; Mark Hamm, Chief Operating Officer; Neerav Shah, Chief Strategy Officer; Todd Pepmeier, Chief Financial Officer; and John Ritchison, our Chief Legal Officer.

謝謝你，丹尼爾，大家下午好。感謝您今天加入我們。與我一起參加電話會議的還有 Arrive AI 董事長、執行長兼創辦人 Dan O'toole、營運長 Mark Hamm、首席策略長 Neerav Shah、財務長 Todd Pepmeier 和我們的首席法律長 John Ritchison。

The earnings press release that was issued this afternoon is available in the investor relations section of the company's website, arriveai.com. Also today, we may make forward-looking statements with respect to future financial results. These statements are not guarantees of future performance, and the company's actual results may differ materially from the anticipated events, performance, or results expressed or implied by these forward-looking statements. Arrive AI advises you to read the risk factors detailed in its SEC filings, which can also be accessed through the company's website. Now, I'll turn the call over to Dan O'toole. Dan?

今天下午發布的收益新聞稿可在公司網站 arriveai.com 的投資者關係版塊查閱。此外，今天我們可能會就未來財務表現做出前瞻性陳述。這些聲明並非對未來績效的保證，本公司的實際結果可能與這些前瞻性聲明所表達或暗示的預期事件、績效或結果有重大差異。Arrive AI 建議您閱讀其 SEC 文件中詳述的風險因素，您也可以透過該公司的網站存取這些文件。現在，我將把電話轉給丹·奧圖爾。擔？

Thanks, Kylie. Hey, everybody, great to see you today. Quick question. Did anybody hear about the streaker in the church? He got caught by the organ. (laughter) Do you guys know that? I wanted to start with some levity. This is our first ever public earnings call, and so thanks for joining us to Arrive AI's inaugural earnings call. It's a privilege to speak with you today, and I want to begin by framing what we're building here. A foundational infrastructure for the future of autonomous Last Mile logistics.

謝謝，凱莉。大家好，很高興今天見到你們。快速提問。有人聽過教堂裡的裸奔者嗎？他被風琴抓住了。（笑聲）你們知道嗎？我想以一些輕鬆的話題開始。這是我們首次公開財報電話會議，非常感謝您參加 Arrive AI 的首次財報電話會議。今天我很榮幸能與你們交談，首先我想介紹一下我們在這裡正在建造的內容。未來自主最後一哩物流的基礎設施。

Arrive AI is pioneering an autonomous Last Mile platform centered around our patented arrive points. Arrive points are AI powered smart delivery units that serve as nodes in our connected delivery network. Our technology enables secure, verifiable, and frictionless delivery for any any courier, whether it's a drone, ground robot, or a traditional human driver. We're not just creating a product, we're creating a system that solves the most complex part of the delivery process, the last inch.

Arrive AI 正在率先推出以我們專利的到達點為中心的自主 Last Mile 平台。到達點是人工智慧驅動的智慧配送單元，可作為我們互聯配送網路中的節點。我們的技術可以為任何快遞員提供安全、可驗證和無摩擦的送貨服務，無論是無人機、地面機器人還是傳統的人類駕駛。我們不僅僅是在創造一種產品，我們還在創建一個系統來解決交付過程中最複雜的部分，即最後一英寸。

Our platform provides chain of custody, ensuring that every delivery is tracked and authenticated from the moment it enters an arrive point until it is retrieved. Our units include advanced features like climate assist for sensitive goods such as pharmaceuticals and groceries, and they integrate seamlessly with existing smart home and city infrastructures.

我們的平台提供保管鏈，確保每批貨物從進入到達點直到被取回都受到追蹤和驗證。我們的設備包括針對藥品和雜貨等敏感商品的氣候輔助等先進功能，並且可以與現有的智慧家庭和城市基礎設施無縫整合。

We are building the nervous system for a new era of automated logistics, one where packages arrive not only on time, but securely, intelligently, and precisely where they are needed.

我們正在為新時代的自動化物流建立神經系統，在這個時代，包裹不僅能準時到達，而且能安全、聰明、準確地到達需要的地方。

Our future is about moving from pilot projects to defining and dominating key market verticals. The pilot programs that we've launched with hospitals, retail partners, and municipalities are more than tests. They're validating capabilities for how our platform will operate and scale. We believe the future of logistics is not about a single delivery method, but an intelligent interoperable network. Arrive AI is positioned to be the connective tissue between a rapidly expanding ecosystem of autonomous vehicles, drone fleets, and e-commerce platforms.

我們的未來是從試點計畫轉向定義和主導關鍵垂直市場。我們與醫院、零售合作夥伴和市政當局啟動的試點計畫不僅僅是測試。他們正在驗證我們的平台如何運作和擴展的能力。我們相信物流的未來不是單一的運送方式，而是一個智慧的互通網路。Arrive AI 的定位是成為快速擴張的自動駕駛汽車、無人機隊和電子商務平台生態系統之間的連接紐帶。

We're focused on building a defensible mode of intellectual property and strategic partnerships. Our new patent grant for our intelligent chain of custody network isn't just a legal victory. It's a strategic asset that will protect our core technology as the market matures. As autonomous delivery becomes a reality, our technology will become an essential component of every last inch interaction.

我們專注於建立可防禦的智慧財產權和策略合作夥伴關係模式。我們為智慧監管鏈網路授予的新專利不僅僅是一場法律上的勝利。隨著市場逐漸成熟，它是一種策略性資產，可以保護我們的核心技術。隨著自主交付成為現實，我們的技術將成為每一次互動的重要組成部分。

We're looking beyond today's logistics problems to create solutions that will underpin the smart cities and automated economies of tomorrow. The delivering landscape scape is a large and dynamic market that is ripe for innovation.

我們正在著眼於當今的物流問題之外，創造能夠支撐未來智慧城市和自動化經濟的解決方案。景觀交付市場規模龐大，充滿活力，亟待創新。

By focusing on the immediate pain points in delivery, we can drive significant cost savings and deliver a measurable return on investment for our partners. Our long-term vision is to build a differentiated universal network that serves all participants in the delivery ecosystem, including shippers, delivery services, and emerging autonomous networks. We aim to create a cohesive platform that not only solves today's challenges but also anticipates and integrates the future of logistics.

透過專注於交付中的直接痛點，我們可以顯著節省成本並為合作夥伴帶來可衡量的投資回報。我們的長期願景是建立一個差異化的通用網絡，服務於配送生態系統中的所有參與者，包括托運人、配送服務和新興的自主網路。我們的目標是創造一個有凝聚力的平台，不僅能解決當今的挑戰，還能預測和整合物流的未來。

Further, we're thrilled to celebrate the current administration's proposed Beyond Visual Line of Sight rule entitled Unleashing America's Drone Dominance as a watershed moment for American innovation. This new regulation will safely integrate drones into our national airspace, allowing Arrive AI to deploy our solution for the $191 billion US package delivery market. Our patented arrive points will enable a secure, verifiable, and frictionless chain of custody for every delivery, whether by drone, robot, or human.

此外，我們很高興慶祝現任政府提出的超視距規則，題為“釋放美國的無人機優勢”，這是美國創新的分水嶺。這項新法規將把無人機安全地納入我們的國家領空，使 Arrive AI 能夠為價值 1,910 億美元的美國包裹遞送市場部署我們的解決方案。我們獲得專利的到達點將為每次交付提供安全、可驗證且無摩擦的保管鏈，無論是透過無人機、機器人或手動完成。

We're eager for Americans to enjoy the same fast, convenient, and sustainable delivery already popular in countries like India, where our partnership with Skye Air Mobility is just taking flight. We are ready to make the last inch of delivery better for everyone.

我們渴望美國人能夠享受到同樣快速、便利和永續的送貨服務，這種服務在印度等國家已經非常流行，我們與 Skye Air Mobility 的合作在這些國家才剛起步。我們已準備好讓最後一點交付對每個人都更加有利。

From an investment standpoint, our strategy is built on disciplined, intelligent growth. We're not chasing short term revenue. We're deploying capital to build a scalable and defensible business model. We are focused on three key areas. Number one, commercialization. And operational excellence. We are investing in our AP3 and product roadmap units. As stated earlier, arrive points are temperature assisted AI powered endpoints able to send and receive all deliveries. Think Tesla's universal nature of charging network, one platform for all electric cars and arrive point is one autonomous delivery in point for all shipments.

從投資角度來看，我們的策略建立在有紀律的、智慧的成長之上。我們不追求短期收入。我們正在部署資本來建立可擴展且可防禦的商業模式。我們專注於三個關鍵領域。第一，商業化。以及卓越的營運。我們正在投資我們的 AP3 和產品路線圖部門。如前所述，到達點是溫度輔助的人工智慧端點，能夠發送和接收所有交付。想想特斯拉的充電網路的通用性，所有電動車都有一個平台，到達點是所有貨物的一個自主交貨點。

This investment reduces hardware costs in our operational model to make deployments repeatable and efficient. Each successful pilot is a template for hundreds more, creating a clear pathway to commercial scalability.

這項投資降低了我們營運模式中的硬體成本，使部署可重複且有效率。每次成功的試點都是數百次試點的模板，為商業可擴展性開闢了一條清晰的道路。

The second one, patents and partnerships, our strategy to create a powerful patent portfolio and forge strategic partnerships with industry leaders. These relationships not only validate our technology but also embed our platform into the broader ecosystem, accelerating our path to market.

第二個是專利和合作夥伴關係，我們的策略是創建強大的專利組合併與產業領導者建立策略合作夥伴關係。這些關係不僅驗證了我們的技術，還將我們的平台嵌入更廣泛的生態系統中，加速了我們的市場進程。

Three, building recurring value. Our revenue model is designed to deliver recurring revenue. As we sign on commercial partners like Walmart and Hancock Health, we're not just making a one-time sale. We are establishing a foundation for a platform as a service model where our growth -- our revenue grows with every delivery, every data point, and every new arrive point deployed.

三、創造重複性價值。我們的收入模式旨在提供經常性收入。當我們與沃爾瑪和漢考克健康等商業夥伴簽約時，我們不僅僅是進行一次性銷售。我們正在為平台即服務模式建立基礎，我們的成長——我們的收入隨著每次交付、每個數據點和每個新到達點的部署而增長。

Our recent successful capital raise gives us the runway to execute the strategy and build our revenue base without near-term liquidity pressure. We have the right team, the right technology, and a clear vision to build a legacy of enduring value for our shareholders.

我們最近成功籌集資金，為我們實施策略和建立收入基礎提供了基礎，而且沒有短期流動性壓力。我們擁有合適的團隊、合適的技術和清晰的願景，可以為股東創造持久的價值。

This quarter was about turning vision into action. We moved from R&D into execution, putting our AP3 units into the field, engaging real world users, and sharpening our technology with every delivery. As the founder, I've never been more confident we have the right team, the right tech, and now, the right timing.

本季的主題是將願景轉化為行動。我們從研發轉向執行，將我們的 AP3 單元投入現場，與現實世界的用戶互動，並在每次交付中不斷磨練我們的技術。身為創辦人，我從未像現在這樣有信心，我們擁有合適的團隊、合適的技術，而且現在時機也恰到好處。

We didn't just file patents this quarter. We protected a future in logistics layer that others are just beginning to imagine. Our Nasdaq debut marked a new chapter, and I want every shareholder to know we're building this for scale, for impact, and for legacy. The road to autonomous delivery is real, and Arrive AI is paving the last inch.

本季度我們不僅申請了專利。我們保護了其他人才剛開始想像的物流層面的未來。我們在納斯達克的首次亮相標誌著一個新的篇章，我希望每位股東都知道，我們建立這個公司是為了擴大規模、提升影響力和傳承。自主交付之路是真實存在的，Arrive AI 正在鋪平最後一步。

This isn't just about the pulling product. It's about defining the category. What we're building at Arrive AI doesn't exist anywhere else in the world. We are a networked intelligent delivery infrastructure optimized for the last inch. Our pilots are teaching us how this system can serve hospitals, retail municipalities, and millions of consumers. As we build, we're also learning, iterating fast, staying agile, and always focused on creating value where the complexity is highest and the stakes are real.

這不僅僅是拉動產品的問題。這是關於定義類別。我們在 Arrive AI 上建立的東西在世界其他任何地方都不存在。我們是一個針對最後一吋進行最佳化的網路化智慧交付基礎架構。我們的試點計畫正在教導我們如何讓該系統服務醫院、零售城市和數百萬消費者。在建構的過程中，我們也在學習、快速迭代、保持敏捷，並始終專注於在複雜性最高、風險真實的領域中創造價值。

I'd now like to turn this over to Mark Hamm, Arrive AI's COO, to provide further comments. Mark, take it over.

現在我想把這個問題交給 Arrive AI 的營運長馬克‧哈姆 (Mark Hamm)，請他提供進一步的評論。馬克，接手吧。

Thanks, Dan. I'm proud how our team executed to our plan in Q2. Over the last 10-plus years, we've been executing a dual path for creating value. Path one of value creation is growing organizational capabilities, enhancing our teams, systems, and processes for innovation, efficiency, compliance, and security.

謝謝，丹。我很自豪我們的團隊在第二季執行了我們的計劃。在過去的十多年裡，我們一直在執行創造價值的雙重路徑。價值創造的第一步是提高組織能力，增強我們的團隊、系統和流程，以實現創新、效率、合規性和安全性。

In Q2, we formed a strategic relationship with the managed service provider, Synoptek, to bolster continued development of long-term capabilities, security, and compliance. On path two for value creation, our R&D solutions team continues to build unique autonomous Last Mile delivery solutions for customers.

在第二季度，我們與託管服務供應商 Synoptek 建立了策略關係，以支援長期能力、安全性和合規性的持續發展。在價值創造的第二條道路上，我們的研發解決方案團隊繼續為客戶建立獨特的自主最後一哩交付解決方案。

In the early years, we established our vision and a lot of foundational IP. Over the last three years we've continued to press IP as well as delivering prototypes and pilots to realize and refine new capabilities at an increasing rate. Q2 pilots included hospitals, specialty pharma couriers, and municipalities continuing that trend and filling the pipeline. Here, Shaw will speak to those, in more details shortly.

早年我們確立了我們的願景和許多基礎IP。在過去三年中，我們繼續推動 IP 以及提供原型和試點，以越來越快的速度實現和完善新功能。Q2 試點包括醫院、專業藥品快遞公司和市政當局，他們延續了這一趨勢並填補了管道空缺。在這裡，肖將很快更詳細地談論這些問題。

Both initial paths of value creation have been executed within a pre-revenue focus akin to a biotech company prioritizing innovation, learning, and validation in clinical trials before mainstreaming and obtaining market traction.

兩種初始價值創造路徑都是在創收前重點內執行的，類似於生物技術公司在進入主流並獲得市場吸引力之前優先考慮臨床試驗中的創新、學習和驗證。

Now we're excited with the funds to begin path three of value creation to build a scalable and profitable product and platform. In Q2 we secured public funding to develop our Arrive Point product network and platform aimed at profitable unit economics at scale and scalable manufacturing and operations. We have a solid five-year plan that begins this quarter focused on a new greenfield product development effort harvesting all we've learned to date followed by large pilot Swiss strategics in coming years. By year four, we plan to produce and install 10,000 units annually and scaling up to 100,000 units annually in year five, and we have bigger plans beyond that. This five-year plan we believe can translate to a 10x increase in the company value.

現在，我們很高興有了資金，可以開始價值創造的第三條路徑，以建立可擴展且有利可圖的產品和平台。在第二季度，我們獲得了公共資金來開發我們的 Arrive Point 產品網路和平台，旨在實現規模盈利的單位經濟效益以及可擴展的製造和營運。我們有一個堅實的五年計劃，從本季度開始，重點是新的綠地產品開發工作，收穫我們迄今為止學到的所有知識，隨後在未來幾年進行大規模的瑞士試點戰略。到第四年，我們計劃每年生產和安裝 10,000 台，第五年擴大到每年 100,000 台，而且我們還有更大的計劃。我們相信這個五年計畫可以讓公司價值成長 10 倍。

Q3 growth plans include tripling team size with 40-plus hires in technology like AI, engineering, robotics, operations research, development, and more, adding a bunch of advanced software and tools to get the job done.

Q3 成長計畫包括將團隊規模擴大兩倍，在人工智慧、工程、機器人、運籌學、開發等技術領域招募 40 多名員工，並添加一系列先進的軟體和工具來完成工作。

So with that, I'd like to turn it over to Todd Pepmeier, our CFO, for further comments.

因此，我想將其交給我們的財務長 Todd Pepmeier 來徵求進一步的評論。

Thanks, Mark. From a financial standpoint, our strategy remains clear. Disciplined investment in scalable infrastructure. We're deploying capital where it matters the most, productization, pilots, and intellectual property.

謝謝，馬克。從財務角度來看，我們的策略仍然很明確。對可擴展基礎設施進行嚴格的投資。我們將資本部署在最重要的地方，即產品化、試點和智慧財產權。

Importantly, our PicMii crowdfunding campaign was not only successful but strategic, bringing in nearly 2,000 new retail investors who are now aligned with that long-term vision. This quarter, we also closed a $40 million structured capital line from Streeterville Capital, giving the access to liquidity that we need to execute our strategy.

重要的是，我們的 PicMii 眾籌活動不僅成功，而且具有戰略意義，吸引了近 2,000 名新的散戶投資者，他們現在都認同這一長期願景。本季度，我們也從 Streeterville Capital 獲得了 4,000 萬美元的結構化資本，從而獲得了執行策略所需的流動性。

Here's some key aspects of the Q2 financial results. Revenue, just over $90,000 in the quarter, the first we've recorded in history. Our net loss in the quarter was $4.69 million compared to $1.46 million for the same quarter in 2024 and $1.98 million loss for the first quarter of this year.

以下是第二季財務業績的一些關鍵方面。本季營收略高於 9 萬美元，這是我們歷史上首次創下這項紀錄。本季我們的淨虧損為 469 萬美元，而 2024 年同期的淨虧損為 146 萬美元，今年第一季的淨虧損為 198 萬美元。

Now, these results need to be considered in the context of some unique aspects this quarter. While our operating expenses were higher than the same quarter last year, $4.63 million versus $1.48 million, much of that increase was a result either directly or indirectly to the public listing which occurred in May.

現在，需要結合本季的一些獨特方面來考慮這些結果。雖然我們的營運費用高於去年同期的 463 萬美元，而去年同期為 148 萬美元，但大部分成長是直接或間接地由於 5 月的公開上市造成的。

Major items like legal expenses, insurance, and investor relations all saw distinct spikes in the period. In total, over $3 million of our operating expenses in the quarter were attributed to the public listing.

法律費用、保險和投資者關係等主要項目在此期間均大幅成長。總體而言，本季我們超過 300 萬美元的營運費用歸因於上市。

Without these unique expenses, our net loss for the quarter would be in line or slightly better than the same period in 2024, $1.35 million versus $1.46 million in the same quarter last year, and $1.98 million for the first quarter this year.

如果沒有這些特殊費用，我們本季的淨虧損將與 2024 年同期持平或略有好轉，為 135 萬美元，而去年同期為 146 萬美元，今年第一季為 198 萬美元。

Despite that headwind, our net cash flow was positive. Our cash balance ended at $607,000, which was an increase of 478,000 from the balance at the end of the year. And as we described earlier, we have nearly all that capital facility still available to meet future growth.

儘管面臨不利因素，我們的淨現金流仍為正。我們的現金餘額最終為 607,000 美元，比年底的餘額增加了 478,000 美元。正如我們之前所述，我們幾乎擁有所有可用的資本來滿足未來的成長。

We've maintained a disciplined approach to our capital use, focusing on long-term shareholder value. Every dollar we raise, every contract we enter, and every new hire is measured against this one core question. Will this accelerate our ability to deliver scalable, defensible, recurring value?

我們對資本運用始終保持嚴謹的態度，並注重長期股東價值。我們籌集的每一美元、簽訂的每一份合約以及每一次新招聘都以這個核心問題為衡量標準。這會加速我們提供可擴展、可防禦、可重複價值的能力嗎？

I'm also pleased to report that our accounting systems are now fully capable to support public company standards with real-time dashboarding, financial controls, and compliance workflows in place.

我還很高興地報告，我們的會計系統現在完全能夠支援上市公司標準，包括即時儀表板、財務控制和合規工作流程。

As mentioned, we recorded our first revenue in the quarter, primarily coming via our partnership with Hancock Health, a multi-year project through which we'll pilot our Arrive Points working in hospitals to provide secure space for robotic delivery of items, including bio specimens from the oncology center to nurses stations. Our CSO, Nero Shaw, will have more on that in a minute.

如上所述，我們在本季度實現了第一筆收入，主要來自與 Hancock Health 的合作，這是一個多年期項目，我們將透過該項目在醫院試行我們的 Arrive Points，為機器人運送物品（包括從腫瘤中心到護士站的生物樣本）提供安全的空間。我們的首席策略長 Nero Shaw 稍後將對此進行更詳細的介紹。

At this early stage of our commercial development, our infrastructure build out will require significant investment, and we expect to use our funding this year to lay our foundation for growth.

在我們商業發展的早期階段，我們的基礎設施建設將需要大量投資，我們預計今年的資金將為我們的成長奠定基礎。

As is the case with most early stage companies, we expect our revenue base -- or sorry, we expect our expense base to grow faster than our revenue base until we are fully commercialized, and we plan to use our capital facility to support this effort.

與大多數早期公司的情況一樣，我們預計我們的收入基礎——或者抱歉，我們預計我們的支出基礎的增長速度將快於我們的收入基礎，直到我們完全商業化，我們計劃使用我們的資本工具來支持這項工作。

Over time, we may refinance this facility or seek additional financing for major project pushes. Overall, our five-year plan envisions improving the enterprise value by tenfold as we fully commercialize, and we're targeting a revenue mix that is evenly split between our Arrive Point network and the AI platform services.

隨著時間的推移，我們可能會為該設施再融資或為重大項目推動尋求額外融資。總體而言，我們的五年計劃設想在全面商業化後將企業價值提高十倍，並且我們的目標是將 Arrive Point 網路和 AI 平台服務的收入結構平均分配。

Now like to turn it over to Neerav for further comments.

現在想將其交給 Neerav 以徵求進一步的評論。

Thanks, Todd. What makes Q2 different is not just the number of deals, it's the signal quality. These aren't tech partners. These are category leaders with infrastructure needs. This quarter, we sent three commercial engagements that Todd, Dan, and Mark have mentioned. I'll go into a little more detail that validate our platform across distinct verticals. Walmart, a national retail partner, expanding our footprint in e-commerce delivery. Secondly, Skye Air, a drone logistics partner paving the way for aerial the ground automation. And finally, Hancock Health, who we've spoken to, spoken about quite a bit, a hospital system bringing secure medical transport into the field.

謝謝，托德。Q2 的差異不僅在於交易數量，還在於訊號品質。這些不是技術合作夥伴。這些是有基礎設施需求的類別領導者。本季度，我們發送了 Todd、Dan 和 Mark 提到的三項商業約定。我將更詳細地介紹如何驗證我們平台在不同垂直領域的表現。沃爾瑪是全國零售合作夥伴，正在擴大我們在電子商務配送領域的影響力。其次，無人機物流合作夥伴 Skye Air 為空中地面自動化鋪平了道路。最後，我們採訪過的漢考克健康公司談到了很多關於醫院系統如何將安全的醫療運輸帶入現場的問題。

Hancock, as mentioned, is a multi-year agreement through which we will pilot our arrive points, working in the hospital to provide secure space for robotic delivery of items, including bio specimens from the cancer center to the lab, among many other routes that we planned.

正如所提到的，漢考克是一項多年期協議，透過該協議，我們將試行我們的到達點，在醫院工作，為機器人運送物品提供安全的空間，包括從癌症中心到實驗室的生物樣本，以及我們計劃的許多其他路線。

We are confident this trial will prove important costs and time savings, enabling medical professionals to focus on patient care rather than varying samples around the hospital. Key strategies for enhancing efficiency and reliability at Hancock include a few items replacing manual specimen transport with robotic automation, providing arrive point storages for for devices around the clock deliveries, and finally deploying drones for urgent and off-campus transport needs.

我們相信，這次試驗將節省大量成本和時間，使醫療專業人員能夠專注於患者護理，而不是在醫院周圍更換樣本。漢考克提高效率和可靠性的關鍵策略包括用機器人自動化取代手動標本運輸、為全天候交付的設備提供到達點存儲，以及最終部署無人機以滿足緊急和校外運輸需求。

This automation will open the door for transformative improvements, reducing costs, accelerating the delivery of critical items like test results, medications, and lab specimens, and strengthening the security and reliability of hospital services.

這種自動化將為變革性改進打開大門，降低成本，加快測試結果、藥物和實驗室樣本等關鍵物品的交付，並加強醫院服務的安全性和可靠性。

Success here can propel expansion throughout Hancock's 30 other locations in Central Indiana and could prompt additional healthcare facilities to adopt the technology.

這裡的成功可以推動漢考克在印第安納州中部其他 30 個地點的擴張，並可能促使更多醫療機構採用該技術。

Our strategy remains crystal clear. We don't chase volume. We validate verticals. The quality of our pipelines speaks to the precision of that focus. These aren't warm leads, they're high intent pain aware organizations with budget authority. Walmart is bringing e-commerce delivery delivery closer to the doorstep of its neighborhoods. Hancock Health is solving a true problem in hospital logistics. And finally, Skye Air is tackling air to ground custody in one of the most complex regulatory environments in logistics. We win because we solve the problems others can't.

我們的戰略依然非常明確。我們不追求數量。我們驗證垂直行業。我們的管道品質體現了這種關注的精確性。這些並不是熱門線索，而是具有預算權限、高度關注痛點的組織。沃爾瑪正在將電子商務配送服務延伸至社區門口。漢考克健康中心正在解決醫院物流的一個真正問題。最後，斯凱航空正在物流領域最複雜的監管環境之一中處理空地監管問題。我們之所以成功，是因為我們解決了別人無法解決的問題。

I'd now like to turn it over to John Ritchison, Arrive AI's Chief Legal Officer, to provide further comments. Go ahead, John.

現在，我想將發言權交給 Arrive AI 首席法律官 John Ritchison，請他提供進一步的評論。繼續吧，約翰。

Thanks, Neerav. We're continuing to strengthen our position at the intersection of technology and law. In the second quarter, we filed two additional patent applications focused on secure climate optimization, adaptive access control, and drone landing coordination.

謝謝，Neerav。我們正在繼續加強我們在科技與法律交叉領域的地位。在第二季度，我們提交了另外兩項專利申請，重點是安全氣候優化、自適應存取控制和無人機著陸協調。

And on June 10, we proudly announced the issuance of patent number 12304671. It's a cornerstone patent protecting our heating and cooling elements of our intelligent chain of custody delivery network. This brings in quarter two are issued patents to a total of eight.

6 月 10 日，我們很自豪地宣布頒發專利號 12304671。這是保護我們智慧保管鏈交付網路中的加熱和冷卻元件的基石專利。這使得第二季頒發的專利總數達到八項。

The recent issue of the hot cold compartments patent targets more and better temperature control and support. In addition to the secured smart box and encrypted communications, other new and protected features are optional charging of different electrical trimodal abilities for drones, ground robots, and couriers, the ability to check packages for hazards such as explosives, anthrax, and illegal drugs. The ability to check for diseases such as different viruses, COVID, and other.

最近發布的冷熱隔間專利旨在實現更多、更好的溫度控制和支援。除了安全智慧箱和加密通訊之外，其他新的受保護功能還包括為無人機、地面機器人和快遞員提供不同的電動三重充電功能，以及檢查包裹中是否存在爆炸物、炭疽和非法藥物等危險品的能力。檢查不同病毒、COVID 等疾病的能力。

In addition to these features, we have a weight and dimension scan, we have weather queries, we have what they call tag and track drive-bys. And for all you pet owners out there, we have facial and pet recognition cameras.

除了這些功能之外，我們還有重量和尺寸掃描、天氣查詢，以及所謂的標籤和追蹤驅動功能。對於所有寵物主人，我們配備了臉部和寵物辨識攝影機。

This quarter's patent grant is more than a legal milestone. It's a strategic enabler. We're not just protecting what we built, we're creating options for licensing, partnership leverage, and enforcing our position that will matter more as competitors enter our space.

本季度的專利授權不僅僅是一個法律里程碑。它是一個策略推動因素。我們不僅要保護我們所建立的東西，還要創造許可、合作槓桿和強化我們的地位的選擇，當競爭對手進入我們的領域時，這些將變得更加重要。

We built our filings to be future forward covering uses of the AI-directed drone fleets and to multi-agent chain of custody flows.

我們建立了面向未來的文件，涵蓋人工智慧指導的無人機艦隊的使用以及多代理監管鏈流程。

On the compliance side, our team continues to lead the conversation with police to multi-agent chain of custody -- excuse me, chain our conversation with both municipal and federal regulators. Whether it's the FAA drone integration or public safety access, we're shaping the policy of environment that we all operate in one day. Now, I'm going to turn it back to Dan.

在合規方面，我們的團隊繼續引導與警方的對話，以建立多代理監管鏈——對不起，將我們的對話與市政和聯邦監管機構聯繫起來。無論是 FAA 無人機整合還是公共安全訪問，我們都在製定一天內運營的環境政策。現在，我要把話題轉回給丹。

Thanks John. I'm not going to tell another joke, guys. I want to thank John, Todd, Mark, Neerav, and Kylie, for assisting on this call. Really appreciate that. Our operating and strategic objective objectives for the remainder of the year are as follows. One, we are building the team hiring commenced in Q3 under our plans to triple our staff. These roles will include artificial intelligence scientists delivering on the company's commitment to be AI first in its operation and deliverables.

謝謝約翰。夥計們，我不想再說笑話了。我要感謝 John、Todd、Mark、Neerav 和 Kylie 在這通電話中給予的幫助。真的很感激。我們今年剩餘時間的營運和策略目標如下。首先，我們正在組建團隊，並於第三季開始招聘，計劃將員工人數增加兩倍。這些職位將包括人工智慧科學家，履行公司在營運和交付中優先採用人工智慧的承諾。

Other jobs will include software and product engineering, underscoringive AI's commitment to continuous refinements of its proprietary technology and patents -- patented products, sorry. Additional positions will support critical sales and marketing functions as the company prepares for widespread deployment. This expansion is critical for us to remain on the forefront of technology and to begin production of our Arrive Points for roll out internationally as we -- as well as to attract new clients and partners.

其他工作將包括軟體和產品工程，強調 AI 致力於不斷改進其專有技術和專利（抱歉，是專利產品）。當公司準備進行廣泛部署時，額外的職位將支援關鍵的銷售和行銷職能。此次擴張對於我們保持技術領先地位、開始生產我們的 Arrive Points 並在國際上推廣以及吸引新客戶和合作夥伴至關重要。

Number two, product development. We offer the world's first autonomous delivery network anchored by our patented AI-powered Arrive Points. Since 2014, when our first patent filing beat industry giants like Amazon and the US Postal Service, Arrive AI has been at the forefront of the of the developing autonomous delivery industry.

第二，產品開發。我們提供世界上第一個由我們專利的人工智慧驅動的 Arrive Points 支撐的自主配送網路。自 2014 年我們的第一份專利申請擊敗亞馬遜和美國郵政服務等行業巨頭以來，Arrive AI 一直處於發展中的自動送貨行業的前沿。

Supported by growth capital and our investors, we now turn to producing our units and scaling deployment. This will be our focus for the remainder of 2025 and well into 2026 in accordance with our five-year strategic plan.

在成長資本和投資者的支持下，我們現在開始生產我們的產品並擴大部署。根據我們的五年策略計劃，這將是我們在 2025 年剩餘時間和 2026 年的重點。

In closing, I want to thank all of our shareholders for joining us on this pivotal jour journey. We would not be here without you. This quarter we demonstrated that our vision is just not a concept. It is a tangible reality with our AP3 units now active in the field and commercial engagements underway. We are no longer a com a company in R&D. We are a functional execution-based company building the last inch of the logistics layer, a category that we believe is essential for the future of autonomous delivery.

最後，我要感謝所有股東與我們一起踏上這趟關鍵的旅程。如果沒有你，我們就不會在這裡。本季我們證明我們的願景不僅僅是一個概念。這是一個切實的現實，我們的 AP3 單位目前已在實地積極開展業務，商業合作也正在進行中。我們不再是一家從事研發的公司。我們是一家以功能執行為基礎的公司，致力於建立物流層的最後一英寸，我們相信這個類別對於未來的自主交付至關重要。

The progress that we've made on everything from our patents and partnerships to our operational efficiency and financial discipline is a testament to the hard work of our team and the strategic clarity of our mission. We're building a company for the long term, one focused on creating scalable, defensible, and recurring value.

從專利和合作夥伴關係到營運效率和財務紀律，我們在各個方面取得的進步證明了我們團隊的辛勤工作和我們使命的策略清晰度。我們正在建立一家長遠的公司，專注於創造可擴展、可防禦和可重複的價值。

The road to autonomous delivery is being paved right now, and with every deployment, every patent, and every new hire, we are laying the groundwork for a legacy of innovation. We will now open up the floor for questions. First from the teleconference and then from the webcast.

自主交付的道路正在鋪設中，每一次部署、每項專利和每位新員工的加入，我們都在為創新的傳承奠定基礎。我們現在開始回答大家的提問。首先來自電話會議，然後來自網路直播。

(Operator Instructions) Mike McCormack, Water Tower Research.

（操作員指示）Mike McCormack，水塔研究。

Great, thanks. Hey Dan, how does the company plan to transition from its current pilot-centric pre revenue model to scalable profitable business? What are the key milestones for achieving this, including partnerships and what partnerships are necessary for you to achieve your objectives? Thanks.

太好了，謝謝。嘿，丹，公司計劃如何從目前以飛行員為中心的盈利前模式轉型為可擴展的盈利業務？實現這一目標的關鍵里程碑是什麼，包括合作夥伴關係以及實現目標需要哪些合作關係？謝謝。

Mike, thanks for your question. I'm going to defer that to Mark Ham, our CEO Mark, you only have that?

麥克，謝謝你的提問。我將把這個問題交給我們的執行長馬克‧哈姆 (Mark Ham)，馬克，你只有這個嗎？

Sure. So this strategic five-year plan is year one we're realizing or finishing designs on the next generation AP5 product system that will in the second year serve a number of strategics, drone companies, ground robotics companies, delivery service companies. In one or two areas where they are already deployed, we will be providing a connective network as Dan referred to earlier. Year three, that learning is getting folded back into incremental improvements for unit economics and scale manufacturing. And by year four, we plan to be shipping 10,000 a year. Year five, 100,000 a year, and bigger plants than that beyond.

當然。因此，這個策略五年計畫的第一年，我們正在實現或完成下一代 AP5 產品系統的設計，該系統將在第二年為許多策略、無人機公司、地面機器人公司和送貨服務公司提供服務。在已經部署的一兩個地區，我們將提供丹之前提到的連接網路。第三年，這些學習成果將重新轉化為單位經濟和規模製造的漸進式改善。到第四年，我們計劃每年出貨 10,000 輛。第五年，每年 10 萬株，之後的植株還會更大。

So that's kind of at a high level what we're prepared to detail at this point, but we've been working on how this product system, will be built, designed, and many of the 30 to 40, AI developer engineers, industrial designers, et cetera that are coming in this quarter will be hitting the ground running and working on that, right away.

因此，這是我們目前準備詳細說明的較高層次的內容，但我們一直在研究如何建置、設計這個產品系統，本季即將加入的 30 到 40 名 AI 開發工程師、工業設計師等將立即開始工作。

Does that answer the question or was it more?

這回答了問題嗎？或者還有更多？

No, it does. I've got a follow up question if you don't mind. How will your platform as a service model work and what are you -- what are the pricing structures for your commercial partners will be based on per delivery fee, a subscription fee, or a hybrid model?

不，確實如此。如果您不介意的話，我還有一個後續問題。您的平台即服務模式將如何運作？您的商業合作夥伴的定價結構將基於每次交付費、訂閱費還是混合模式？

Yeah, great question. So there's actually three components to the product, which actually break into the three planned revenue streams. First there's the Arrive Point network itself that we expect to serve all networks of drones, and robots, and services, and that will be deployed on a network as a service model for a monthly fee. A lot of detail is being explored how that monthly fee is covered, but that then becomes a turnkey service for all field support upgrades, maintenance software integration, security, et cetera.

是的，很好的問題。因此，該產品實際上有三個組成部分，它們實際上分為三個計劃的收入流。首先是 Arrive Point 網路本身，我們期望它能夠服務所有無人機、機器人和服務網絡，並將以網路即服務模式部署，並收取月費。目前，人們正在探索如何支付月費的細節，但這將成為所有現場支援升級、維護軟體整合、安全性等的交鑰匙服務。

The second component is a -- what we call an autonomous Last Mile marketplace as the network grow and -- units become high demand units in front of apartment complexes or on campuses.

第二個組成部分是——隨著網路的發展，我們稱之為自主的最後一哩市場——單元成為公寓大樓前或校園內的高需求單元。

The marketplace will resolve the demand for automation to come and go, much like planes coming and going from an airport gate. And in addition, it will optimize the use of the high-demand inventory space that our units will have. It will optimize it both within customers and competing networks that want access to that inventory. A classic example is you're throwing a Super Bowl party, your pizzas are on the way, UPS wants to complete the fifth delivery in the neighborhood. There's some competition for both time and space there, and the system will resolve that, the marketplace will resolve that.

市場將解決自動化來來去去的需求，就像飛機進出機場登機口一樣。此外，它還將優化我們單位的高需求庫存空間的使用。它將在客戶和想要存取該庫存的競爭網路中對其進行最佳化。一個典型的例子是，你正在舉辦超級盃派對，你的披薩正在路上，UPS 想要完成附近第五次送貨。那裡存在著時間和空間上的競爭，系統會解決這個問題，市場會解決這個問題。

You get your pizzas, the party goes on, the in customers informed that the package is just down the street, and they can either pick it up or given a couple hours will coordinate with other networks in the area with spare capacity to complete the delivery on behalf of UPS and all of that demand for the space is resolved.

你拿到披薩後，派對繼續進行，顧客得知包裹就在街上，他們可以自己取，或者在幾個小時內與該地區有空餘容量的其他網絡協調，代表 UPS 完成遞送，所有空間需求都得到解決。

We expect those situations to be more like a Google AdSense and to increase a base transactional fee that will be nominal but on every transaction. And then the third stream which we expect to be 50% of revenue over time as we get to hundreds of thousands of units in the field will be the AI platform and associated services. And if you think about the type of network that we have out there serving these networks, we have many return logistics completing the journey multimodal logistics and other kind of arbitrage opportunities that we can help all our logistics partners be more efficient, grow their business while we take a cut of that activity. So we think that will start culminating really in year five of the plan.

我們預計這些情況將更像 Google AdSense，並增加每筆交易的基本交易費，雖然不多，但很低。然後，我們預計，隨著我們在該領域擁有數十萬台設備，第三個業務流將占到總收入的 50%，即人工智慧平台和相關服務。如果你考慮我們為這些網路提供服務的網路類型，我們有許多回程物流完成旅程多式聯運物流和其他類型的套利機會，我們可以幫助我們所有的物流合作夥伴提高效率，發展他們的業務，同時我們從中抽成。因此我們認為這將在計劃的第五年真正達到頂峰。

Great. That was an exciting time. Look forward to watching it.

偉大的。那真是一段令人興奮的時光。期待觀看。

Okay, thank you.

好的，謝謝。

(Operator Instructions) I'm showing no further questions over the phone line at this time. This concludes a live call in Q&A portion of the call. We will now turn the call over to Kylie Conway.

（操作員指示）目前我不再透過電話詢問其他問題。本次電話會議問答部分的現場通話到此結束。我們現在將電話轉給凱莉康威 (Kylie Conway)。

Yes, we are going to take more questions from those on the webcast, so be sure to stick around for that. Thank you, Daniel. Right now we want to turn our attention to some of the more frequently asked questions we received from the investment community in our first quarter of being a public company.

是的，我們將在網路直播中回答更多問題，所以請務必繼續關注。謝謝你，丹尼爾。現在，我們想把注意力轉向投資界在我們上市第一季收到的一些最常見的問題。

So I'm going to ask our management team, some of those right now and again stand by for those webcast listeners. We will get to as many questions many of those questions as possible after a run through of these FAQs.

因此，我要要求我們的管理團隊，其中一些現在再次為那些網路廣播聽眾做好準備。在瀏覽這些常見問題解答後，我們將盡可能解答這些問題。

First up, for Dan, can you talk about your status as a closely held company and your float? Do you plan to remain this closely held? Are you considering putting more stock into the market, whether through a secondary or primary offering so institutions can buy it?

首先，丹，您能談談貴公司作為一家私人控股公司的情況以及您的流通股嗎？您打算繼續維持這種緊密的合作關係嗎？您是否考慮向市場投放更多股票，無論是透過二次發行還是首次發行，以便機構可以購買？

Thank you, Kyle. I appreciate that. It's a question I get asked often from both individuals. Sorry, it's a question I get asked often from both individuals and institutions. Institutions have a need to have a high degree of liquidity as they may want to be able to maneuver in and out, and it aligns with me personally, as far as putting more shares into the float.

謝謝你，凱爾。我很感激。這兩個人常問我這個問題。抱歉，這是個人和機構經常問我的問題。機構需要具有高度的流動性，因為他們可能希望能夠進出，就向流通股投入更多股份而言，這與我個人的觀點一致。

Many of you know we are a closely held company. Actually it's called a controlled company which when a single individual owns a high percentage which we have in this case, and that's me. So over the last year and a half, I put a survey out to our 5,000 investors asking the question, how would you feel if I sold some shares when we went public? And 95% of our respondents said that they were in favor of that. For the last 11 years I've funded this company substantially out of my own pocket for 6.5 of them.

你們很多人都知道我們是一家私人控股公司。實際上，這被稱為受控公司，即由一個人擁有很高的股份，在這種情況下，這個人就是我。因此，在過去的一年半里，我對我們的 5,000 名投資者進行了一項調查，詢問這個問題：如果我在我們上市時出售一些股票，你們會有什麼感覺？95% 的受訪者表示贊成。在過去的 11 年裡，有 6.5 年我都自掏腰包為這家公司提供資金。

And so I do have a large, portion of my net worth in Arrive AI stock. So consistent with that, I do want to rebalance my portfolio, when possible, put parameters on myself. I don't want to undervalue anybody that invested in this company. And so my plan would be to sell some shares at the appropriate time to create further liquidity and to increase the flow so that's our position on that. I appreciate that question.

因此，我的淨資產中確實有很大一部分投資於 Arrive AI 股票。因此，與此一致，我確實想重新平衡我的投資組合，在可能的情況下，為自己設定參數。我不想低估任何投資這家公司的人。因此，我的計劃是在適當的時候出售一些股票，以創造更多流動性並增加流量，這就是我們的立場。我很感謝你提出這個問題。

Okay, next question is for Todd Pepmeier, our CFO. How should we think about your capital allocation into CapEx and R&D cost this year and over the next couple of years, as well as investments in pilot programs, IP, and the manufacturing scale up of Arrive AP3 units?

好的，下一個問題是問我們的財務長 Todd Pepmeier 的。我們應該如何考慮您今年和未來幾年在資本支出和研發成本方面的資本配置，以及對試點項目、智慧財產權和 Arrive AP3 單位製造規模的投資？

So let's talk. Thanks, Kylie. Let's talk about this year first. So preponderance of our spending this year, as we've said earlier on the call will be really to mobilize that engineering team, those developers, to build out the future products. Beyond that we will start to scale unit deliveries that will require a capital investment over time. We've accommodated for all of that in our models.

那麼我們來談談吧。謝謝，凱莉。先說今年吧。因此，正如我們之前在電話會議上所說的那樣，我們今年的大部分支出將用於動員工程團隊和開發人員來建立未來的產品。除此之外，我們將開始擴大需要長期資本投資的單位交付量。我們的模型已經考慮到了所有這些因素。

So but we are being selective in in those opportunities that make the most financial and strategic sense. We have a lot of opportunities to deploy capital, and we're trying to stay focused on that strategic plan, really building out the next-generation product.

所以，我們會選擇那些最具財務和策略意義的機會。我們有很多機會部署資本，我們正努力專注於該戰略計劃，真正打造下一代產品。

Okay. Also Streeterville, talk about this convertible note coming up shortly. What's the plan for that and, the plans for conversion?

好的。另外，Streeterville，請談談即將發行的可轉換票據。對此有何計劃？轉換計劃是什麼？

Yeah, so as we've disclosed in in various filings, so Streeterville does have the ability to convert out of that note at a time of their choosing with equity purchase. There are no restrictions on that. And in that case we would issue shares to retire the note. And as we execute a plan and continue to draw on the line, same pattern repeats and they can convert it as they choose.

是的，正如我們在各種文件中所揭露的那樣，Streeterville 確實有能力在他們選擇的時間透過股權購買來轉換該票據。對此沒有任何限制。在這種情況下，我們將發行股票來償還票據。當我們執行計劃並繼續繪製線條時，相同的模式會重複出現，他們可以根據自己的選擇進行轉換。

What is your projected cash burn for the remainder of the year and into next year as you execute your growth plan? How long does your current capital runway last?

在執行成長計畫時，您預計今年剩餘時間和明年的現金消耗量是多少？您目前的資金跑道能維持多久？

So first of all, I would say it's a bit premature to give those kind of forward projections at this stage. What we can say is that we feel well positioned with that Streeterville facility that takes us safely into 2027 in in terms of the five-year plan. Now beyond that, as manufacturing starts to scale up and we head towards that 100,000 installed base, there will be a need for more capital starting in about 2027, and so that's about as specific as we can give right now.

所以首先，我想說，現階段做出這類前瞻性預測還為時過早。我們可以說的是，就五年計畫而言，Streeterville 工廠讓我們處於有利地位，可以讓我們安全地進入 2027 年。除此之外，隨著製造業開始擴大規模，我們朝著 10 萬個安裝基數邁進，從 2027 年左右開始將需要更多資金，所以這是我們現在所能給出的具體信息。

Okay, and next question is for John Ritchison, our Chief Legal Officer. How will you defend your patents? It's possible that Amazon doesn't enjoy being beaten to the punch?

好的，下一個問題是問我們的首席法律官 John Ritchison 的。您將如何捍衛您的專利？亞馬遜可能不喜歡被搶先一步嗎？

It's a good question. We've had that a few times. The fact that you beat somebody to punch, at least here in the United States is a good thing. Of course, we like being in as the -- pretty much in the front position for our portfolio.

這是個好問題。我們已經遇到過幾次了。事實上，打敗別人打拳至少在美國是件好事。當然，我們喜歡處於我們投資組合的前列。

I don't want to be a school teacher now, but just for a second, I just want to recall for everybody that the patent system, the way it's set up, if even the small guy for a small lady that's got a great idea and has received her patent can go to the federal courts and protect themselves. It's a still a pretty flat surface and it's pretty fair. As you go forward, depending on your ideas, obviously, Amazon or whoever it is, have got bigger pockets than we do. But we think we've got a pretty good set of litigation people out there that we've already worked in.

我現在不想成為學校老師，但只是片刻，我只想讓大家回顧一下專利制度，它的設立方式，即使是小人物或小女士，如果有一個好主意並獲得了專利，也可以去聯邦法院保護自己。它仍然是一個非常平坦的表面，而且相當漂亮。隨著你的前進，取決於你的想法，顯然，亞馬遜或其他公司比我們擁有更大的財力。但我們認為我們已經擁有一群非常優秀的訴訟人員。

So we don't have a a concern there but as you go forward. The whole thing is is trying to get everybody to understand that this is a good system. And in fact, whether it's Amazon or somebody else we hope to be partnershipping with them or licensing them to use our system and go forward.

因此，我們對此並不擔心，但隨著您繼續前進。整件事情就是試著讓每個人都明白這是一個好的系統。事實上，無論是亞馬遜還是其他人，我們都希望與他們合作或授權他們使用我們的系統並繼續發展。

Great John, thank you. And last question of our FAQs is for Dan. Dan, what do you worry about and what keeps you up at night?

偉大的約翰，謝謝你。我們的常見問題的最後一個問題是針對丹的。丹，你擔心什麼？什麼事讓你夜不能寐？

Well, first of all, I don't sleep at night. So I don't have to worry about that. I have to say when we went public, I said to myself I made a promise which I broke, and I wasn't going to watch the share price. But given that I'm the largest shareholder and it's near and dear to my heart like every one of our shareholders. It's something that I do do and it gets a little bit frantic sometimes around here.

嗯，首先，我晚上不睡覺。所以我不必擔心這一點。我必須說，當我們上市時，我對自己說我做出了一個承諾，但我違背了它，我不會關注股價。但鑑於我是最大的股東，我和我們每一位股東一樣，非常重視這件事。這是我確實會做的事情，但有時事情會變得有點瘋狂。

But the thing that really keeps me up at night is iterating on Arrive AI and coming up with, new ideas, new technology, filing new -- sorry filing new patents and all the things that are going to drive this company to the finish line.

但真正讓我夜不能寐的是，對 Arrive AI 進行迭代，提出新想法、新技術、申請新專利——抱歉，是申請新專利，以及所有能推動這家公司走向終點的事情。

So people ask me about our share price. What's your share price going to do today, and I tell the story. At one point in my life I owned a racehorse and everybody would say to me hey, is your horse going to win today? And I never knew if it was going to win or not.

所以人們問我我們的股價。今天你的股價會怎樣，我來講講。我一生中曾經擁有一匹賽馬，每個人都會對我說，嘿，你的馬今天會贏嗎？我也不知道它是否會贏。

I ended up winning one race through the tenure of that ownership, and I didn't even bet my horse that race because I didn't know if I was going to win or lose. But what I can say is this team, this place, this time with the IP that we have, the market acceleration around us, we're set up for success. And all of our early investors, they came in they have seen this vision. If you loved us then, you really love us now because things have gotten bigger, brighter, and better than than we even could have ever hoped at this time. So I'm really excited about that.

在擔任該職位期間，我最終贏得了一場比賽，但我什至沒有在那場比賽中下注我的馬，因為我不知道我會贏還是輸。但我可以說的是，憑藉這支團隊、這個地方、這次我們擁有的智慧財產權以及我們周圍的市場加速發展，我們已經為成功做好了準備。我們所有的早期投資者都看到了這個願景。如果您當時愛我們，那麼您現在就真的愛我們，因為事情已經變得比我們當時所希望的更大、更光明、更好。所以我對此感到非常興奮。

So Kylie, back to you.

那麼凱莉，回到你身邊。

We do hope that you get some sleep. Eventually, that would be --

我們確實希望你能睡一會兒。最終，這將是--

I might just crash on the desk one day. You never know.

有一天我可能會倒在桌子上。你永遠不知道。

Okay, so now let's get to the many submitted questions we've received for the webcast. So thank you everyone who has joined via the webcast and for these contributions. Our first one is from Jack. The question is, thanks for the update taking my questions as it relates to your five-year strategic road map. Which has overlapped with overall autonomous AI industry and infrastructure global build out, how do you prioritize that road map for Arrive AI, ARAI, and where does ARAI fit within the overall ecosystem? What are your thoughts on the largest male and par supply chain providers and how they fit with ARAI and autonomous opportunities in the future?

好的，現在讓我們來看看我們收到的有關網路直播的眾多問題。感謝所有透過網路直播參與並做出貢獻的人。我們的第一個消息來自傑克。問題是，感謝您回答我有關您的五年策略路線圖的問題。這與整體自主 AI 產業和全球基礎設施有重疊，您如何優先考慮 Arrive AI、ARAI 的路線圖，以及 ARAI 在整個生態系統中處於什麼位置？您對最大的男性和女性供應鏈供應商有何看法，以及他們未來如何適應 ARAI 和自主機會？

Jack, thanks for that question. I'm going to give that to Mark Hamm and and see if he can knock that one out of the park.

傑克，謝謝你的提問。我要把這個交給馬克‧哈姆，看看他能否成功。

Yeah, great question, and we do love to think of it as an ecosystem, and that's why, while it's an overused word, that's why we use the word platform to serve the whole ecosystem.

是的，這個問題問得很好，我們確實喜歡把它看作一個生態系統，這就是為什麼，雖然它是一個被過度使用的詞，但我們使用平台這個詞來服務整個生態系統。

So similar to EV manufacturers building out their technologies and ultimately building their own chargers, they eventually realized that an interoperable horizontal network that they could all invest in was a better route to go, and they adopted the best technology out there in North America and in a similar way. We view ourselves as supporting all the modes of delivery by robot and drone and pick up as well that we see being demonstrated out there and increasingly the backbone of many business models. And so our goal is to support all those methods and to be a neutral network that helps everybody increase adoption and ROI faster by supporting all those modes of delivery and pick up. So within that, yes, there are multiple business models you may have a vertically integrated.

與電動車製造商開發自己的技術並最終建造自己的充電器類似，他們最終意識到，一個他們可以共同投資的可互通的水平網絡是更好的選擇，他們以類似的方式採用了北美最好的技術。我們認為自己支援機器人和無人機的所有交付模式，我們也看到了這些模式正在被展示，並且越來越成為許多商業模式的支柱。因此，我們的目標是支持所有這些方法，並成為一個中立的網絡，透過支持所有這些交付和提貨模式，幫助每個人更快地提高採用率和投資回報率。因此，是的，在其中，您可能擁有多個垂直整合的商業模式。

Drone network like a wing or a zip line often they'll work with a maybe a service provider like a DoorDash or an Uber Eats or a CVS or a Walmart and then of course we have our traditional. US mail and, specialty, logistics, and supply parcel supply chain providers like FedEx, UPS, etc. All of whom have their own business models but can leverage autonomous networks for the Last Mile to.

無人機網路（例如機翼或高空滑索）通常會與 DoorDash、Uber Eats、CVS 或 Walmart 等服務供應商合作，當然我們也有傳統的服務。美國郵政、專業、物流和供應包裹供應鏈提供商，如聯邦快遞、UPS 等。他們都有自己的商業模式，但可以利用自主網路來實現最後一哩路。

Chase some really amazing cost savings and deliver better customer experience. Now what what we like to say is the Jetsons were right, that is the future, but we follow that very quickly with the observation that we don't think the last 50% of savings or customer experience or really the rapid adoption will be there until the industry adopts. An interoperable horizontal network which is what we are pursuing have the lead on, have all our IP, all our talent and resources aimed at, and we're increasingly working with strategics and different types of customers to deploy facets of that and you've heard the five-year plan to start putting that network out there and that's where we think those parcel carriers and others will play. And as the parcel carriers have experienced, there's many business models that leverage them in different ways. And so by being a horizontal piece of.

追求真正驚人的成本節約並提供更好的客戶體驗。現在我們想說的是，傑森一家是對的，這就是未來，但我們很快就觀察到，我們認為，只有當整個行業都採用它時，最後 50% 的節省或客戶體驗或真正的快速採用才會出現。我們正在追求一個可互通的水平網絡，我們所有的 IP、人才和資源都瞄準這個網絡，我們正在越來越多地與戰略人員和不同類型的客戶合作來部署這個網絡的各個方面，你已經聽說過開始將該網絡投入使用的五年計劃，我們認為包裹運輸商和其他人將在這個網絡中發揮作用。正如包裹承運商所經歷的，有許多商業模式可以以不同的方式利用它們。因此，透過成為水平的一部分。

Infrastructure we allow everybody to innovate and optimize and maximize their business model.

基礎設施我們允許每個人創新、優化和最大化他們的商業模式。

Great. Thanks.

偉大的。謝謝。

Mark. Our next question is from Jabari. The question is, do you anticipate the new tariffs will materially affect your supply chain costs? If so, how would that impact your current runway?

標記。下一個問題來自賈巴里。問題是，您是否預期新關稅將對您的供應鏈成本產生重大影響？如果是的話，這會對您目前的跑道產生什麼影響？

Neerav Shah, our Chief Strategy Officer, you want to handle that? Yeah, thanks, Dan.

我們的首席策略長 Neerav Shah，您想處理這個問題嗎？是的，謝謝，丹。

So currently we do make a lot of our product in India it's manufactured there, but we see that supply chain is mostly supporting Asian demand. We're currently looking at three suppliers in the United States to onshore the production of the AP3 units and that should be happening by the end of this year. We should make an announcement, so stay tuned for that, Jabari.

因此，目前我們的許多產品確實在印度生產，但我們發現供應鏈主要支援亞洲的需求。我們目前正在尋找美國的三家供應商來負責 AP3 裝置的國內生產，預計今年底前完成。我們應該發佈公告，所以請繼續關注，賈巴里。

Next question is from Ryan.

下一個問題來自 Ryan。

Who do you see as your ideal investor for ArriveAI and why? For example, are you more interested in capturing individual or corporate investors?

您認為誰是 ArriveAI 的理想投資者？為什麼？例如，您對吸引個人投資者還是企業投資者更感興趣？

Dan O'toole here. I'll grab that one. Thank you, Ryan, for your question. We are the people story, we've always been, we beat Amazon by 4 days on our foundational patent. We, we're the little guys taking on the big guys, and we welcome everyone. If you put $1 into this company, you're a co-owner with me and the team, and that's how we celebrate this. So, we're not picking. Who we do or don't want to be an investor in the company, we welcome everyone, and that's the spirit to say everyone that invested came of their own free will and the exact amount they want wanted to, and we celebrate that every day. So thank you for that question, Ryan.

這裡是丹·奧圖爾。我會抓住那個。瑞安，謝謝你的提問。我們的故事就是人民的故事，我們一直都是這樣，我們在基礎專利上比亞馬遜領先了 4 天。我們，我們是小人物對抗大人物，我們歡迎所有人。如果你向這家公司投資 1 美元，你就是我和團隊的共同所有者，這就是我們慶祝這一點的方式。所以，我們不會選擇。無論我們想不想成為公司投資者，我們都歡迎所有人，這就是我們的精神，每個投資者都是自願的，並且投資金額是他們想要的，我們每天都為此而慶祝。謝謝你提出這個問題，瑞安。

Next question is for from Jaime. The question is, previously you've mentioned mentioned plans to monetize Arriva's patents and proprietary technology through partnerships. Can you share any concrete developments, timelines, or new partner commitments on that.

下一個問題來自 Jaime。問題是，您之前提到透過合作將 Arriva 的專利和專有技術貨幣化的計劃。您能否分享有關該問題的具體進展、時間表或新的合作夥伴承諾？

Front? Mark, you want to take that one?

正面？馬克，你想拿那個嗎？

Yeah, we presently are not pursuing what, some would refer to as like a Qualcomm model.

是的，我們目前沒有追求某些人所說的高通模式。

What we are doing is we're investing and working with all parties to use and accelerate the use of a horizontal interoperable network and those parties that use that network will be covered under our IP. On the other hand, as vertical solutions that may not join our network attempt to go deeper and deeper into our capabilities, we think one we will outperform them because of our volume and going down the cost curve faster, because we will be used by more parties, but two in that scenario then we'll begin to.

我們正在做的是投資並與各方合作，使用並加速使用水平互通網絡，並且使用該網絡的各方將受到我們的 IP 覆蓋。另一方面，隨著那些可能不會加入我們網路的垂直解決方案試圖越來越深入地挖掘我們的能力，我們認為，首先，由於我們的數量和成本曲線下降速度更快，我們將超越它們，因為我們將被更多的方使用，但其次，在這種情況下，我們才會開始。

Defend our IP if you will now around the partnerships we think there's a lot of great partners out there, a lot of great supply chains, and that there's plenty of room for cross licensing and other types of partnerships to facilitate developing those supply chains and accelerating going to market for us.

如果您願意，請捍衛我們的智慧財產權，現在圍繞著合作夥伴關係，我們認為有很多優秀的合作夥伴，很多優秀的供應鏈，並且有足夠的空間進行交叉許可和其他類型的合作，以促進開發這些供應鏈並加速我們的行銷。

The next question is from Aaron. Once the product hits nationwide installations, what does that look like? He's assuming there will be local salesmen and also installers. Will this be done by franchise locations or remote locations set up by Arrive AI?

下一個問題來自 Aaron。一旦該產品在全國範圍內安裝，情況會是怎樣？他假設會有當地的銷售人員和安裝人員。這將由 Arrive AI 設立的特許經營地點或遠端地點來完成嗎？

Aaron says he has a home improvement. He's been in home improvement sales for 14 years and would like to help advise and think tank on this.

亞倫說他家裡有裝修工程。他從事家居裝飾銷售已有 14 年，願意為此提供建議和智囊。

Hey, Earn, really appreciate that, Dan O'Toole here. First of all of our initial investors know that we have an initiative called From Within. Everyone that invested in this company along our evolution, we've always tried to consider them for any opportunities that we have, so we'd love to talk to you and get any. Kind of advice that you want to give us really appreciate that. Having said that, we also want to consider, anybody that has a viable offer, but I would say that we see this as a situation where we probably have a blended team both internal and external contractors that can handle the whole country.

嘿，Earn，非常感謝，我是 Dan O'Toole。首先，我們的初始投資者知道我們有一個名為「From Within」的計劃。對於在我們發展過程中投資這家公司的每個人，我們一直試圖考慮他們提供的任何機會，所以我們很樂意與您交談並獲得任何機會。我們非常感謝您給我們的建議。話雖如此，我們也想考慮任何有可行報價的人，但我想說，我們認為這種情況我們可能有一個由內部和外部承包商組成的混合團隊，可以處理整個國家。

Trying to want to see what else you wrote here, you know that your home improvement business would love to, leverage that as well, and I would also say that, we're building our units, our customers don't have to buy them, they can subscribe to them much like an Amazon Prime model. What that means is each unit is on our own balance sheet. We're building these for a long. Longevity and and low maintenance, we're building them in a modular fashion, plug and play much like a Tesla, with the theory that the best part is no part. And so what we're trying to do is have these streamline built for longevity and dependability, perhaps working to deal with a UPS to come out and hot swap modules, when something is detected to to be. Defective, and at the same time taking the broken part back to a rehab facility to get that refurbed for, redeployment or or to dispose of, but that's how we're viewing that we see obviously it's a big consideration that we're thinking about. So, my email is dan@arriaI.com. Erin, I'd love to hear from you, so that we can have keep that discussion going.

想看看您在這裡還寫了什麼，您知道您的家居裝飾業務也很樂意利用這一點，而且我還想說，我們正在建造我們的單位，我們的客戶不必購買它們，他們可以像亞馬遜 Prime 模式一樣訂閱它們。這意味著每個單位都在我們自己的資產負債表上。我們建造這些已經很長時間了。為了實現長壽命和低維護，我們採用模組化方式來建構它們，即插即用，就像特斯拉一樣，其理論就是最好的部分就是沒有部分。因此，我們正在嘗試做的是讓這些流線型系統具有長久的使用壽命和可靠性，當檢測到某些問題時，也許可以處理 UPS 和熱插拔模組。有缺陷，同時將損壞的部件送回修復設施進行翻新、重新部署或處理，但這就是我們的看法，顯然這是我們正在考慮的一個重要因素。我的信箱是dan@arriaI.com。 Erin，我很樂意收到你的來信，這樣我們就能繼續討論下去了。

Thank you.

謝謝。

Next question is from Ron. What would help Arrive AI succeed in the short term and long term? What can speed up the growth and success?

下一個問題來自羅恩。什麼能幫助 Arrive AI 在短期和長期內取得成功？什麼可以加速成長和成功？

Who wants to take that one? No? Do you want to take that? Yeah.

誰想拿那個？不？你想拿走那個嗎？是的。

Thanks, Dan. So Dan had mentioned earlier that there was an announcement from the Sean Duff, the US Secretary of Transportation, kind of alluded to that drone dominance. So a really big, a big win for us would be really freeing the skies and allowing beyond visual line of sight operations that would be massive for us and accelerate our growth.

謝謝，丹。丹之前提到過，美國交通部長肖恩·達夫發表了一份聲明，暗示了無人機的主導地位。因此，對我們來說，一個真正巨大的勝利就是真正解放天空，允許超視距作戰，這對我們來說意義重大，加速我們的成長。

Thank you.

謝謝。

Thanks, thank you, Nero.

謝謝，謝謝你，尼祿。

And next question is from Tully. Have you worked out your technical issue with safety for drone delivery?

下一個問題來自塔利。您是否解決了無人機送貨的安全技術問題？

I'll take that. Which one, Tully? I'm just kidding. I don't, I'm not sure what you're speaking about there, but what I can say is we are developing our own API to work on an open source basis. Obviously, we want everyone to be able to integrate with our solution, as Mark laid out earlier, we consider ourselves. The chart, the Tesla Charger network, if you will, we're going to be ubiquitous. You're not going to have three Arrive Points in front of a home or business, a Walmart, on Amazon and a USPS. There's only going to be one, so it's important that you integrate, universally, and that's what we're working on every day. So, thanks for that question.

我會接受的。哪一個，塔利？我只是在開玩笑。我不知道你在說什麼，但我可以說的是，我們正在開發我們自己的 API 以在開源基礎上工作。顯然，我們希望每個人都能夠融入我們的解決方案，正如馬克之前所說，我們認為自己。圖表，特斯拉充電器網絡，如果你願意的話，我們將無所不在。你不會在家庭或企業前設立三個到達點，即沃爾瑪、亞馬遜和美國郵政服務。只有一個，所以重要的是你要普遍地整合，這就是我們每天都在做的事情。所以，謝謝你提出這個問題。

And this next question comes from Jose. What are the biggest risks you see in the next few quarters and how are you preparing to turn those challenges into opportunities?

下一個問題來自 Jose。您認為未來幾季最大的風險是什麼？您準備如何將這些挑戰轉化為機會？

How do you want to take that one?

你想怎麼拿這個？

Yeah Dan so thank you Jose for the question. That there's there's a lot of risk in an emerging business like ours, especially one in an emerging segment with new technologies, our risks or said differently, our success is going to be dependent on, how many pilots we're able to deploy in the next few quarters, how many units are out there in the field, really getting that installed base built up to the point. Where we can start a receiving, meaningful revenue quarter over quarter, but be taking the learnings we get from these early pilots, turning them into solutions for the next generation of products, so I just turned the risks into an opportunity.

是的，丹，感謝何塞提出這個問題。像我們這樣的新興業務存在許多風險，特別是在擁有新技術的新興領域，我們的風險，或者換句話說，我們的成功將取決於我們能夠在未來幾個季度部署多少個試點，有多少個單位在現場，真正將安裝基礎建立到位。我們可以開始逐季度獲得有意義的收入，但要吸取從這些早期試點中獲得的經驗教訓，將其轉化為下一代產品的解決方案，所以我只是將風險轉化為機會。

How about that? And that's the CFO guys thank you we're all women.

那怎麼樣？這些都是財務官，謝謝大家，我們都是女性。

Next question from Lucas. What concrete strategic initiatives are you implementing to drive a four to five times increase in shareholder value over the coming months?

下一個問題來自盧卡斯。您正在實施哪些具體的策略措施來推動未來幾個月股東價值成長四到五倍？

Thanks Lucas. I appreciate that question. This is Dan. I, what I want to highlight is in this very call we talked about, a five-year strategy where we're hoping to 10x the value of the company. So let's not settle for four or five, Lucas, we're going to try to go for that 10. And I think we've addressed a lot of the strategic initiatives, those that we could talk about in this call, but stay tuned every day we're out there with new exciting things. That's what makes it so much fun to come to work every day. It's every day is a new day and it's never the same, so thank you for that question.

謝謝盧卡斯。我很感謝你提出這個問題。這是丹。我想強調的是，在這次電話會議中，我們談到了一項五年策略，我們希望將公司的價值提高 10 倍。所以，盧卡斯，我們不要滿足於四、五個，我們要努力爭取十個。我認為我們已經討論了很多策略舉措，這些舉措我們可以在這次電話會議上討論，但請繼續關注，我們每天都會推出令人興奮的新事物。這就是每天上班都充滿樂趣的原因。每天都是新的一天，永遠不會一成不變，所以謝謝你提出這個問題。

So spencer now in the best of times, many companies in their infancy do not always survive if we were to experience a pullback in equities or recession, how is the IAI position to weather the storm and come out the other side?

因此，斯賓塞，現在正處於最好的時期，如果我們經歷股市回調或經濟衰退，許多處於起步階段的公司並不總是能生存下來，IAI 將如何渡過難關並走出困境？

Todd CFO, you want to grab that one?

托德首席財務官，你想抓住那個嗎？

Thanks, Dan. Yeah, so I guess first of all I would say the markets are the markets, the economy is going to do what it's going to do. There are volatilities out there that we can't control and so you know you ask how we're how we're weathering that, I would say we're more focused on what we're doing, where we're deploying, and the success of those deployments so we know what we can't control the market volatility and so we're trying to look inward and focus on our plan.

謝謝，丹。是的，所以我想首先我想說的是，市場就是市場，經濟將會按照它想要的方式運作。存在著我們無法控制的波動，所以你知道你會問我們如何應對這些波動，我想說我們更關注我們在做什麼、我們在哪裡部署以及這些部署是否成功，所以我們知道我們無法控制市場波動，所以我們試圖反省並專注於我們的計劃。

Next question from Keith, as an early angel investor in a red AI, could you please explain how a potential sale of the company's patent to Amazon would impact my investment and the value of my shares?

下一個問題是來自 Keith 的，作為紅色 AI 的早期天使投資人，您能否解釋一下將公司專利出售給亞馬遜將如何影響我的投資和我的股份價值？

Keith, thanks for asking the question. Also, thanks for being an early investor. We really appreciate that. This is Dan. What I would say is, we're not hyper-focused on any exit per se. What we do is we span the globe and we look at every opportunity that comes across our horizon, the prism of how I ever, how how I always look at. Everything is through the the eyes of the last investor.

基思，謝謝你提出這個問題。另外，感謝您成為早期投資者。我們對此深表感激。這是丹。我想說的是，我們並不會過度關注任何退出本身。我們所做的就是放眼全球，專注於出現在我們視野中的每一個機會，用我曾經、一直以來的視角來看問題。一切都是透過最後一位投資者的眼睛來看的。

Would he be happy with the outcome? And if he would, it's something we're going to definitely consider, but I, we're giving forward-looking statements here, we're giving our own opinions, as the founder and CEO of arrived, obviously nobody is more electrified about what we're doing than I. Am and you know I kind of my my running mantra to myself is in the next few years either we're going to be owned by the biggest company in the world or we're going to be the biggest company in the world and that's my own view and and that's what keeps me going every day and that's why I never get any sleep but let's see what happens and thanks for that great question.

他會對結果滿意嗎？如果他願意，我們肯定會考慮，但是我，我們在這裡給出前瞻性的陳述，我們給出自己的觀點，作為 Amir 的創始人和首席執行官，顯然沒有人比我更對我們所做的事情感到興奮。我，你知道，我的口頭禪是，在接下來的幾年裡，要么我們將被世界上最大的公司收購，要么我們將成為世界上最大的公司，這是我自己的觀點，也是我每天堅持下去的動力，這也是我為什麼從不睡覺的原因，但讓我們看看會發生什麼，謝謝你提出這個好問題。

Next question from Matt. Has there been a desire within Amazon or USPS to work with Arrive to assist with deliveries? Also, has there been any connection made with pharmacy chains like Walgreens, CVS, and even insurance companies to assist getting insulin and other life saving medications delivered with Arrive AI?

下一個問題來自馬特。亞馬遜或美國郵政局是否希望與 Arrive 合作協助送貨？此外，是否與 Walgreens、CVS 等連鎖藥局甚至保險公司建立了聯繫，以協助透過 Arrive AI 運送胰島素和其他救命藥物？

Thanks Matt Dan here again. I'm not trying to monopolize all these answers. I want to move fast for you guys and give you the best that we can. What I want to say is we obviously have a lot of ongoing conversations with people and companies that you guys all know about. And people and companies that you don't know about, it's not really proper to have a dialogue or to discuss things that might be under NDA or things that the public doesn't know about. So right now I can just tell you that every day we're super focused on.

再次感謝 Matt Dan。我並不是想壟斷所有這些答案。我希望為你們快速行動，並盡我們所能為你們提供最好的服務。我想說的是，我們顯然正在與你們都知道的人們和公司進行大量對話。與您不了解的人和公司進行對話或討論可能受保密協議約束的事情或公眾不知道的事情並不合適。所以現在我可以告訴你，我們每天都非常專注。

Getting the most out of every opportunity out there and really hitting it hard and that's, we're growing our team by we're tripling our team right now we've got the capital to really execute. One thing that we've always done is have our foot on the accelerator all the way down. I always use this analogy that, if you have your foot all the way down on the gas and you let up even for a second and then you reapply, you never get back to where you were and I'm just really proud of what we've been able to do and keeping it all the way down and and where we're going.

充分利用每一個機會並真正努力實現它，我們正在擴大我們的團隊，現在我們的團隊規模增加了兩倍，我們有足夠的資金來真正執行。我們一直在做的一件事就是把腳踩到底。我總是用這個比喻，如果你把腳完全踩在油門上，然後你鬆開哪怕一秒鐘，然後你再次踩下，你就永遠無法回到原來的位置，我真的為我們所能做的以及我們一直保持下去以及我們所要去的地方感到自豪。

Next question from Ben on stock switch threads. There were some concerns over the investment from Street real Capital. I think the SEC filings can be hard to understand for a lot of us. How can you help us understand what kind of deal that was in layman's terms and how that deal helps with the trajectory of the company during this staged growth?

Ben 的下一個問題是關於庫存切換線程。人們對 Street Real Capital 的投資存在一些擔憂。我認為，對我們許多人來說，美國證券交易委員會的文件可能很難理解。您如何幫助我們以外行人能理解的方式了解這是一筆什麼樣的交易，以及這筆交易如何幫助公司在這一階段性成長中的發展軌跡？

Yes, I'm going to jump in first and I'm going to let Todd, our CFO would take that.

是的，我先發言，然後讓我們的財務長 Todd 來接手。

We do not comment on bulletin board material out there. It's a rabbit hole. I just want everyone to know that every day we're doing the right thing for the for every one of us from Ben to George there and me and this whole team, anybody to put one dime into this company, so I just want that to be the underlying theme of how Todd's going to answer this. So go ahead, Todd.

我們不會對公告板上的資料發表評論。這是一個兔子洞。我只是想讓每個人都知道，我們每天都在為每個人做正確的事情，從本到喬治，還有我和整個團隊，任何為公司貢獻一分錢的人，所以我只是希望這是托德回答這個問題的潛在主題。那麼繼續吧，托德。

Yeah.

是的。

It's so the the basic structure of the deal and I'll TRY to simplify it, but it's basically an equity line of credit starts with a prepaid advance our partner Sugerville, advances us funds to purchase shares in the future.

這是交易的基本結構，我會盡量簡化它，但它基本上是一種股權信用額度，從預付預付款開始，我們的合作夥伴 Sugerville 向我們預付資金以便將來購買股票。

That shows up as a convertible note at a at a it bears interest, over time, as that note is converted out with equity purchases, kind of the bank is restored if you will, and we're able to take another pre-paid advance at a future point of our choosing.

它表現為一張可轉換票據，隨著時間的推移，隨著該票據透過股權購買轉換出去，它會有利息，如果你願意的話，銀行就會恢復，我們可以在我們選擇的未來時間點再提取另一筆預付的款項。

So essentially.

本質上如此。

That's what it is.

就是這樣。

Okay, George Fushi has three submit questions. I'm going to loop them into one question. They are what are arise plans to deploy Arrive Points? What's the value proposition for the end user, and what partnerships are currently in progress?

好的，George Fushi 有三個提交的問題。我要把它們合併成一個問題。他們有什麼計劃來部署到達點？對於最終用戶的價值主張是什麼？目前正在進行哪些合作？

I'm going to let Mark and Nero both tackle that.

我打算讓馬克和尼祿一起解決這個問題。

So yeah go ahead go ahead I was going to say with the deployment right now, George, we're looking at a lot of smaller engagements. I mean at some point we'll deploy in a larger scale so we're looking for small controlled areas that we can kind of deploy arrive points. So one example that we announced was to go to delivery in, the Virginia Beach area. So we're able to like kind of have small, pilots and things that, and that's the plan for the next. A few months, Mark, do you want to take.

是的，繼續吧，喬治，我現在要說的是，關於部署，我們正在考慮很多小規模的行動。我的意思是，在某個時候我們會進行更大規模的部署，所以我們正在尋找可以部署到達點的小型受控區域。因此，我們宣布的一個例子是前往弗吉尼亞海灘地區進行送貨。因此，我們可以進行小型試點等，這是下一步的計劃。馬克，你想花幾個月的時間。

The yeah, I would go back to the paths of value creation. Neerav was just referring to how he is validating all these verticals out there and Todd mentioned that we do that selectively and economically where we can learn the most, flesh out the the latest capabilities and and bring that all to bear and then. The value creation path we're just creating now is the new greenfield scalable product that we you know have the five-year plan for deploying tens of thousands of units, year 4, 100,000 year five, and that's the deployment plan now all arrive points fundamentally deliver what we call asynchronous delivery. So that a human doesn't have to be there to take the drone package or or to ship something.

是的，我會回到創造價值的道路上。Neerav 只是提到他如何驗證所有這些垂直領域，而 Todd 提到，我們有選擇地、經濟地進行驗證，以便我們可以學到最多的東西，充實最新的能力，並將其全部付諸實踐。我們現在正在創建的價值創造路徑是新的綠地可擴展產品，我們有一個五年計劃，部署數萬個單元，第四年部署十萬個單元，第五年部署十萬個單元，這就是現在的部署計劃，所有到達點從根本上實現了我們所謂的異步交付。這樣就不需要人工來接收無人機包裹或運送物品了。

As well as the robot, they also deliver security and chain of custody, so packages dropped on lawns and Fido assaults them or billions of dollars of porch piracy each year, those scenarios are avoided as well as business to business, high value goods, medical, all that. So asynchronous delivery chain of custody. And security and a lot of other features that are built in and increasingly managed by AI.

除了機器人之外，它們還提供安全和保管鏈，因此，如果包裹掉在草坪上，狗狗會攻擊它們，或者每年發生數十億美元的門廊盜竊案，這些情況都可以避免，而且對於企業對企業、高價值商品、醫療等而言，這些情況也可以避免。因此非同步交付保管鏈。安全性和許多其他功能都是內建的，並且越來越多地由人工智慧管理。

So two paths that we're creating value and deploying units for different reasons and you know they're coming to a merging out there to one ubiquitous network with all our learning and all our capabilities delivering all that value to every end customer and every business model that needs autonomous delivery embedded in it.

因此，我們出於不同的原因透過兩種途徑創造價值並部署單元，你知道它們正在合併成一個無處不在的網絡，其中我們所有的學習和所有的能力都將把所有價值傳遞給每個最終客戶和每個需要嵌入自主交付的商業模式。

Right.

正確的。

Sergio, thank you for your question submissions. It seems like we've answered them both. I'm going to go ahead and read them because we do appreciate all of these submissions. First one is how does Arrive AI generate revenue from the platform and services, the new hardware sales subscriptions, delivery fees, and other channels mark you into detail answering revenue, and then the other one is large scale manufacturing.

塞爾吉奧，感謝您提交的問題。看起來我們已經回答了這兩個問題。我將繼續閱讀它們，因為我們確實很感謝所有這些投稿。第一個是Arrive AI如何從平台和服務中產生收入，新硬體銷售訂閱，送貨費和其他管道標記你詳細回答收入，然後另一個是大規模製造。

Are there plans for it? If so, where will production take place? And will it be in house or outsourced near if you kind of tapped into this earlier as well so we'll continue Sergio, thanks for another question here. Can you share the full experience and feedback from the first deployed mailbox both from the customer's perspective and from Arrive AI's operational view?

有這方面的計畫嗎？如果是的話，生產將在哪裡進行？如果您之前也提到過這一點，那麼它是在內部進行還是外包，那麼我們將繼續，Sergio，感謝您提出的另一個問題。您能否從客戶的角度和 Arrive AI 的營運角度分享第一個部署郵箱的完整體驗和回饋？

You you want to handle that? Yeah, sure, thanks Dan.

你想處理這個嗎？是的，當然，謝謝丹。

So yeah we've had a we've had a lot of learnings so we're learning a ton from the customers on the positioning and the placement and what they like and what they don't like. I'll just give you a couple of interesting examples. So we're in Hancock right now and and Hancock Regional Health in Greenfield, Indiana. And we discovered that there was one spot in the hospital where it was next to the MRI machines and that interfered with some some signaling so you know we we figured things like that out.

是的，我們已經學到了很多東西，我們從客戶那裡學到了很多關於定位和佈局的知識，以及他們喜歡什麼和不喜歡什麼。我僅給你舉幾個有趣的例子。所以我們現在在漢考克和印第安納州格林菲爾德的漢考克地區醫療中心。我們發現醫院裡有一個地方靠近核磁共振機器，這會幹擾一些訊號，所以你知道我們已經解決了這樣的問題。

Another one would be that we have the ground robot docking with our unit in another location at Hancock and so we're learning that there's kind of some flow of traffic, so we're figuring a lot of things about placement. Use cases and how to better serve the customers, so there's a lot more there, but I know we, we're kind of running short on time, but yeah, we've had a wonderful run.

另一個是，我們讓地面機器人與位於漢考克另一個位置的我們的單位對接，因此我們了解到存在某種交通流量，因此我們正在研究很多有關放置的事情。使用案例以及如何更好地服務客戶，所以還有很多內容，但我知道我們的時間有點不夠，但是是的，我們有一個美好的旅程。

Next question is from Gary. In June we saw a wave of insiders selling immediately following the public listing. This included the CEO selling over $6 million in stock, his daughter liquidating her entire position, and other key executives like the Chief Strategy Officer and the director also selling substantial amounts. Was this coordinated selling executed under prearranged 10B51 trading plans, or were they these discretionary sales, and how should investors interpret this broad-based selling from the core team at such a critical early stage of the company?

下一個問題來自加里。6 月份，我們看到在公司公開上市後立即出現了一波內部人士拋售潮。其中包括執行長出售價值超過 600 萬美元的股票、他的女兒清算其全部股份，而首席策略長和董事等其他關鍵高管也出售了大量股票。此次協調性拋售是根據預先安排的 10B51 交易計畫進行的，還是屬於自主拋售？在公司如此關鍵的早期階段，投資人該如何解讀核心團隊的大規模拋售？

Gary, thanks for the question. This is Dan O'Toole. I want to answer that. I think I touched on it earlier, put a survey out. Over a year and a half ago about this very thing just in anticipation of us getting to the public market, it was something that I wanted to consider, through the eyes of our 5,000 shareholders and you may have heard 95% of our shareholders said they were in favor of me being able to sell and take some money off the table just to put this in context and I'm going to say it. It's private business, but it's also public because I'm an insider in this company, so, I own $200 million give or take in shares in this company, my core holdings, in the largest percentage of my personal net worth is in this company.

加里，謝謝你的提問。這是丹·奧圖爾。我想回答這個問題。我想我之前已經談過這個問題，並進行了一項調查。一年半以前，為了準備進入公開市場，我想從我們 5,000 名股東的角度來考慮這件事，你可能已經聽說，95% 的股東表示，他們支持我出售股票並從中拿走一些錢，只是為了說明這一點，我就這麼說吧。這是私人生意，但也是公開的，因為我是這家公司的內部人士，所以，我擁有這家公司價值 2 億美元的股份，我的核心持股，我個人淨資產的最大比例都在這家公司。

I'm being prudent if, and I always think about about it this way. Well, I'm the most zealous guy and the biggest cheerleader for this company. What if you started a company that was worth $0? You took it to $2 billion in value and then for some reason it ended up back at 0. And all that time you're the biggest ra ra cheerleader in the world, and you never took a dime off the table, you never rebalanced your portfolio, and you spent the rest of your life, kicking yourself. That's not something that I'm willing to do. When I took this company public, I was adamant we had 5,000 investors. This is a we the people story. Everyone in this company has the same shares, all, common shares with voting rights. I didn't create any preference, shares that anybody else had a better position than anyone else. I want people to have the same shares that I do and so I did sell some shares, I announced it to the market.

我很謹慎，而且我總是這樣思考。嗯，我是這家公司最熱心的人和最大的啦啦隊。如果您創辦了一家價值 0 美元的公司會怎麼樣？你把它的價值提升到 20 億美元，然後因為某些原因它又回到了 0。而在那段時間裡，你是世界上最大的啦啦隊隊員，你從來沒有從桌上拿過一分錢，你從來沒有重新平衡過你的投資組合，你用餘生來責備自己。那不是我願意做的事。當我將這家公司上市時，我堅信我們有 5,000 名投資者。這是一個我們人民的故事。這家公司裡每個人都有相同的股份，全部都是有投票權的普通股。我沒有創造任何偏好，也沒有認為其他人的地位比其他人更好。我希望人們擁有和我一樣的股份，所以我確實賣出了一些股份，並向市場宣布了這一消息。

I did not, I put, I want to say this, when we went public, there was a big push for me to lock up everybody in this company, every shareholder that came in, ALL5,000 pre-public shareholders, our C team, everybody, and I wouldn't agree to it. I didn't want to lock up or hold hostage one person that took an early bet on this company in the event they wanted to sell shares when we went public.

我沒有，我想說的是，當我們上市時，我被強烈要求鎖定公司裡的每個人，每個進來的股東，所有 5,000 名上市前的股東，我們的 C 團隊，每個人，但我不會同意。我不想把那些早期押注這家公司的人關起來或扣為人質，以防他們在我們上市時出售股票。

The promises. Investing in any company is liquidity, and that has been very important to me to get all of our shareholders to liquidity. 3.1% of every crowd funded company ever get to the public market. I'm proud to say that we're one of them. I make no excuse for the shares I sold. I did them openly, transparently, and communicatively. I got pre-approval, which I didn't need to get from our shareholders, and I sold $6 million out of $200 million.

承諾。投資任何公司都是流動性的，對我來說，讓所有股東都獲得流動性非常重要。每家眾籌公司中，有 3.1% 的公司能夠進入公開市場。我很自豪地說我們就是其中之一。我對於賣出的股票沒有任何藉口。我以公開、透明和溝通的方式完成了這些工作。我獲得了預先批准，不需要從股東那裡獲得批准，而且我賣出了 2 億美元中的 600 萬美元。

I have invested in this company personally for the 1st 6.5 years. I've subsidized it beyond that, and I've also gone without pay sporadically over the last 11 years. I've built value here. I'm proud of it, and I'm going to state this, I will sell more shares in the future. When the timing is right and under the parameters that I've set for myself, I will say this that I did not sell one share for a price lower than anybody invested in this company prior to going public, and I think that's the integrity of what you get when you deal with us, so I'm not apologizing for it. I'm proud that I was able to build something and to monetize it in a way that rewarded me for the last 11 years of my life and I'm going to be here for a lot more.

我個人已經在這家公司投資了 6.5 年。除此之外，我還補貼了不少錢，而且在過去的 11 年裡，我還斷斷續續地沒有領到薪水。我在這裡創造了價值。我對此感到自豪，而且我要聲明的是，我將來會出售更多股份。當時機成熟並且符合我為自己設定的參數時，我會說，我沒有以低於上市前投資這家公司的任何人的價格出售一股股票，我認為這就是與我們打交道時所獲得的誠信，所以我不會為此道歉。我很自豪能夠創造一些東西，並將其貨幣化，這讓我在過去的 11 年裡獲得了回報，而且我還會在這裡度過更多的時光。

As for others that sold, I know you mentioned my daughter, she did not sell every share she had. I think she only sold $40,000 or $50,000 worth, and I know she's got, probably close to a million dollars or so. So that was a very deminimis amount as well. And I can't speak for others, but what I can say is I have not restricted one person.

至於其他出售股票的人，我知道你提到了我女兒，她並沒有賣掉她擁有的所有股票。我認為她只賣出了價值 4 萬或 5 萬美元的作品，但我知道她賺了大概接近一百萬美元左右。所以這也是一個非常微不足道的金額。我不能代表其他人說話，但我可以說的是，我沒有限制任何人。

The promise of investing here. You have freedom. There's no animosity or judging. If you took the risk and this stock went to a billion dollars day one and you wanted to take that off the table, I want to shake your hand and thank you for being here, with us, and do whatever you want with that money. I'm proud that we created that value. The stock does fluctuate, and I just want everyone to know that. We're trying to get it as high as we can every day. That's what we do here. But if anybody has any questions, I, everyone knows how to reach me, and you know this is what it's about. Everyone invested in this company because they want to get a great return. I sold the company and made this my living in my life for the last 11 years so I can build something big for all of us and I appreciate that question.

在此投資的承諾。你有自由。沒有敵意或評判。如果您承擔了風險，而這隻股票第一天就漲到了 10 億美元，而您想放棄這筆投資，我想和您握手，感謝您來到這裡，和我們在一起，並用這筆錢做任何您想做的事情。我為我們創造了這價值而感到自豪。股票確實會波動，我只是想讓每個人都知道這一點。我們每天都在努力讓它達到盡可能高的高度。這就是我們在這裡所做的。但如果有人有任何問題，我，每個人都知道如何聯絡我，而且你知道這就是事情的經過。每個人都投資這家公司，因為他們想獲得豐厚的回報。我賣掉了公司，並以此為生，在過去的 11 年裡，我可以為我們所有人創造一些偉大的事情，我很感謝這個問題。

Thank you, Gary.

謝謝你，加里。

And Gary, I know you submitted this question a few times, so hopefully Dan got around to answering, and answering that question for you.

加里，我知道你提交過這個問題幾次，所以希望丹能夠回答，並為你解答這個問題。

Next question is from Sergio. This is Dan previously commented on the potential of Bitcoin. How is that idea evolving within RIAI and what role could it play in your overall strategy?

下一個問題來自塞爾吉奧。這是丹之前對比特幣潛力的評論。這個想法在 RIAI 內部是如何發展的？它在您的整體策略中可以發揮什麼作用？

Sergio, thanks for asking. We're an innovative tech company. We are looking at everything every day. People make things happen for certain, I always say why is something done this way, why not that way? That's how I explore and that's how I look at everything. I come at it from the other side. I see Bitcoin when we say crypto in my terms I'm talking about Bitcoin. I think it's not the me too, it's the actual crypto.

塞爾吉奧，謝謝你的詢問。我們是一家創新科技公司。我們每天都在觀察一切。人們總是想讓某件事發生，我總是問為什麼某件事要這樣做，為什麼不那麼做？這就是我探索的方式，也是我看待一切事物的方式。我從另一邊來看它。當我們用我的術語說加密時，我看到的就是比特幣。我認為這不是我的問題，而是真正的加密問題。

And that's out there and and if it makes sense for us to do things in crypto with Bitcoin whether it's receiving payments making payments, paying salaries, any of those kind of things we want to explore all of them we are an emerging tech company we want to be on the cutting edge of everything and I threw it out there to get. Some responses and see how that played with our shareholder community it is something we're evaluating obviously you want to walk before you run, but it is something that we're looking at right now and as things develop and we come up with a strategy on that you'll know and and that's and I know you know that so thanks.

這就是存在的，如果我們用比特幣進行加密操作是有意義的，無論是接收付款、付款、支付工資，還是任何這類事情，我們都想探索所有這些事情，我們是一家新興的科技公司，我們希望站在一切事物的前沿，我把它扔在那裡是為了得到。一些回應，看看這對我們的股東社區有何影響，這是我們正在評估的事情，顯然你想先走後跑，但這是我們現在正在考慮的事情，隨著事情的發展，我們會制定一個策略，你會知道的，我知道你知道這一點，所以謝謝。

And this is the final question from Tim from T. Tim, has there been any market research on consumer sentiment on how they feel about this new technology?

這是來自 T 的 Tim 提出的最後一個問題。 Tim，有沒有針對消費者情緒進行市場調查，了解他們對這項新技術的感受？

You know there there has not been any consumer sentiment studies per se that have been commissioned, but I can tell you this internally. We have great, personnel.

您知道，目前還沒有任何專門的消費者情緒研究，但我可以從內部告訴您這一點。我們擁有優秀的員工。

I'll talk about Sinai if you want to speak about that a little bit in Neerav and the insights that we're garnering and how we approach things. Yeah, sure.

如果您想在 Neerav 中稍微談論一下西奈，我會談論西奈，以及我們正在獲得的見解以及我們如何處理事情。是的，當然。

Thing. So, yes, Sinai, has her PhD in user research and so we've employed a researcher on the team. That's looking at the different things, for example, investor profiles, what you know what are typical ages, what kinds of things people look for what what excites people, from both our product perspective and also looking at our general market. So I think, and Mark talks about this a lot of research first organization and thinking about what actually matters to people. So, we're we're pretty excited about that.

事物。是的，西奈擁有用戶研究博士學位，所以我們在團隊中聘請了一名研究員。這會從不同的角度來看待問題，例如，投資者概況、典型年齡、人們尋找什麼、什麼能讓人們興奮，這些都既包括我們的產品角度，也包括我們的整體市場。所以我認為，馬克談到了很多研究，首先是組織，然後思考什麼對人們來說真正重要。所以，我們對此感到非常興奮。

Thank you.

謝謝。

And those that will end our questions here for the call Dan I know that you have some final remarks that you would like to get. Yeah.

我們的提問就到此結束了，丹，我知道您還有一些想說的最後的話。是的。

Thanks Kylie. I just want to say thanks to everybody for enduring this this long conference here. I do want to say that everyone that invested $1 in Arrive AI is a coder with co-owner with all of us. I also want to say.

謝謝凱莉。我只想感謝大家堅持參加這次漫長的會議。我確實想說，每個向 Arrive AI 投資 1 美元的人都是與我們共同擁有的程式設計師。我也想說一下。

That every metric that we are hyper focused on tracking right now is pegged all the way in a great way, and I'm speaking about metrics like capital, team, IP partnership opportunities, market acceleration around us, and the overall frothineness of this whole emerging industry.

我們現在高度關注的每一個指標都得到了很好的控制，我指的是資本、團隊、智慧財產權合作機會、我們周圍的市場加速以及整個新興產業的整體泡沫等指標。

This is our moment. I hope that you'll join us. If you have anything to say how to reach me, and I just want to thank you again for being a part of our journey. That concludes this call, right, Kylie? It does. Dan. We did it we did.

這是我們的時刻。我希望你能加入我們。如果您有任何想說的如何聯繫我，我只想再次感謝您成為我們旅程的一部分。這通電話到此結束，對吧，凱莉？確實如此。擔。我們做到了。

It we did thank you everyone for joining us. Coming up, we will be presenting at the HC Wainwright conference in September and engaging in additional, marketing to investors as always.

我們確實感謝大家的加入我們。接下來，我們將在 9 月的 HC Wainwright 會議上進行演講，並像往常一樣向投資者進行額外的行銷。

Thank you for your continued support and we look forward to sharing our progress with you again next quarter. Have a great day.

感謝您一直以來的支持，我們期待下個季度再次與您分享我們的進展。祝你有美好的一天。

Bye, guys.

再見，夥計們。

This concludes today's conference call. Thank you for participating. You may now disconnect.

今天的電話會議到此結束。感謝您的參與。您現在可以斷開連線。