Arrive AI Inc (ARAI) 2025 Q3 法說會逐字稿

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

您好，感謝您的耐心等待。歡迎參加 Arrive AI 2025 年第三季財報電話會議。（操作人員指示）請注意，今天的會議正在錄音。

I'd now like to hand the call over to Kylie Conway, Senior Manager of Marketing and Communications. Please go ahead.

現在我將把電話交給行銷和傳播高級經理凱莉·康威。請繼續。

Thank you, Liz, and good morning, 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, Chief Legal Officer.

謝謝你，莉茲，大家早安。感謝您今天蒞臨。與我一同參加電話會議的有：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；以及首席法務長 John Ritchison。

The earnings press release issued this morning is available in the Investor Relations section of our website at arriveai.com.

今天早上發布的獲利新聞稿可在我們網站 arriveai.com 的投資者關係版塊查閱。

Before we begin, please note that today's remarks may include forward-looking statements regarding future financial results, operations, and performance. These statements are not guarantees of future results and are subject to risks and uncertainties that could cause actual outcomes to differ materially. We encourage investors to review the risk factors detailed in our SEC filings, which are also available on our website.

在開始之前，請注意，今天的演講可能包含有關未來財務表現、營運和表現的前瞻性陳述。這些聲明並非對未來結果的保證，並且存在風險和不確定性，可能導致實際結果與預期有重大差異。我們鼓勵投資者查看我們在提交給美國證券交易委員會（SEC）的文件中詳細列出的風險因素，這些文件也可在我們的網站上查閱。

Now I'll turn the call over to Dan O'Toole. Dan?

現在我將把電話交給丹·奧圖爾。擔？

Thank you, Kylie. Good morning, everyone, and welcome to Arrive AI's Q3 2025 earnings call. It's a privilege to speak with you today and reaffirm what we're building here today at Arrive AI, the foundational infrastructure for the future of autonomous last mile logistics.

謝謝你，凱莉。各位早安，歡迎參加 Arrive AI 2025 年第三季財報電話會議。今天能與各位交流，重申我們在 Arrive AI 正在建構的基礎設施，也就是未來自主最後一公里物流的基礎架構，我感到非常榮幸。

But before I get going here, I want to hit you with a quick question. What's blue and doesn't weigh very much? Light blue, light blue, that's obviously a joke. Everybody knows that light blue and blue weigh the same, right, guys?

但在我開始講解之前，我想問你一個問題。什麼東西是藍色的，而且重量很輕？淺藍色，淺藍色，這顯然是個玩笑。大家都知道淺藍色和藍色重量相同，對吧？

But let's get this going here today. Today, the team and I will update you on the progress we made during the third quarter on our operating and strategic goals. They'll take you through our numbers and discuss our next steps. As you know, at Arrive AI, we are pioneering an autonomous last mile platform centered on our patented Arrive points, AI-powered delivery nodes that serve as critical endpoints in our connected logistics network.

但我們今天就先開始吧。今天，我和我的團隊將向大家報告我們在第三季營運和策略目標方面的進展。他們會帶你了解我們的數據，並討論我們下一步的計畫。如您所知，Arrive AI 正在開創一個以我們專利的 Arrive 點為中心的自主最後一公里平台，這些由人工智慧驅動的配送節點是我們互聯物流網路中的關鍵端點。

These units provide secure, verifiable, and frictionless delivery for human couriers, ground robots, and drones alike. But we are not simply building a product, we're building a system that solves the most complex problem in logistics, the last inch, solving a $440 billion infrastructure problem and driving measurable ROI through reduced carrier operating costs and failed delivery avoidance.

這些裝置可為人工快遞員、地面機器人和無人機提供安全、可驗證且無摩擦的配送服務。但我們不僅僅是在打造一款產品，我們正在打造一個系統，以解決物流中最複雜的問題——最後一英寸的配送，解決價值 4400 億美元的基礎設施問題，並透過降低承運商營運成本和避免配送失敗來推動可衡量的投資回報率。

Our platform enables full chain of custody, tracking every delivery from arrival through authenticated retrieval. Arrive points are equipped with climate assist technology for sensitive goods such as pharmaceuticals and grocery items.

我們的平台實現了完整的監管鏈，從貨物到達到經過認證的取回，全程追蹤每一次交付。收貨點配備了氣候輔助技術，用於處理藥品和食品等敏感貨物。

As they integrate with smart home and smart studio systems collectively, these components form the nervous system of autonomous logistics, one that ensures packages arrive securely, intelligently, and precisely where they're needed.

這些組件與智慧家庭和智慧工作室系統協同工作，構成了自主物流的神經系統，確保包裹安全、智慧、準確地送達所需地點。

In Q3 following our public launch, we launched a major hiring initiative to triple our workforce, adding more than 30 new roles across AI, software, and product engineering. With these key new hires and our need for expanded space, we took possession of a new corporate facility located in Fishers, Indiana. Our new headquarters gives us time to unlock the full capabilities of our expanding team. Fishers offers a high-tech environment with the infrastructure and talent ecosystem needed to execute our growth plan effectively.

在第三季度，也就是我們正式發布之後，我們啟動了一項重大的招聘計劃，使我們的員工隊伍擴大了三倍，在人工智慧、軟體和產品工程領域新增了 30 多個職位。隨著這些關鍵新員工的加入以及我們對擴大辦公空間的需求，我們啟用了位於印第安納州費雪市的新公司辦公大樓。我們新的總部讓我們有時間充分發揮不斷成長的團隊的全部潛力。Fishers 提供高科技環境，擁有有效執行我們成長計畫所需的基礎設施和人才生態系統。

We expanded our IP portfolio by securing our ninth US patent, further reinforcing our leadership and autonomous delivery innovation. We integrated time of flight sensors into arrive points to optimize pickup efficiency, lower energy use, and improve data analytics. We expanded our partnerships with Allmart, ACT Antigua in the Caribbean, and Skye Air Mobility in India for international module deployment, and we benefited from regulatory momentum following the FAA's proposed Beyond Visual Line of Sight rule, which represents a key enabler for autonomous operations in the US.

我們透過獲得第九項美國專利，擴大了我們的智慧財產權組合，進一步鞏固了我們在自主配送創新方面的領先地位。我們將飛行時間感測器整合到到達點，以優化取貨效率、降低能源消耗並改善數據分析。我們擴大了與 Allmart、加勒比地區的 ACT Antigua 以及印度的 Skye Air Mobility 的合作關係，以進行國際模組部署。此外，我們也受惠於美國聯邦航空管理局提出的「超視距飛行」規則所帶來的監管勢頭，該規則是美國自主飛行操作的關鍵推動因素。

Our team will discuss each of these initiatives further in a moment. Now I'm going to turn this over to Mark Hamm, our COO. Mark, take it away.

我們的團隊稍後將進一步討論這些舉措。現在我將把麥克風交給我們的營運長馬克‧哈姆。馬克，你來接手吧。

Thanks, Dan. Hello, everyone. First is a quick reminder. Arrive AI's five-year roadmap, which began in Q3 of 2025, positions the company as the essential autonomous logistics management network and platform for all drone and robotic delivery with revenue split evenly between our network as a service and marketplace and AI services, all aiming for a 20x evaluation increase by year five.

謝謝你，丹。大家好。首先簡單提醒一下。Arrive AI 的五年發展路線圖於 2025 年第三季啟動，旨在將公司定位為所有無人機和機器人配送必不可少的自主物流管理網路和平台，收入將平均分配在網路即服務和市場以及人工智慧服務上，目標是在第五年實現 20 倍的評估成長。

Beginning in the first quarter, the plan progresses from product design and R&D transformation into scalable solutions in year one, to interoperable pilots, networks, and strategic relationships in year two, product refinement and manufacturing ramping up in year three, and scale production of 10,000 arrived points and 100,000 in years four and five respectively.

從第一季開始，該計劃將逐步推進，第一年從產品設計和研發轉型為可擴展的解決方案，第二年發展互通的試點項目、網絡和戰略關係，第三年進行產品改進和生產規模擴大，第四年和第五年分別實現 10,000 個和 100,000 個到達點的規模化生產。

This quarter's primary focus was successfully recruiting and onboarding a new product team of more than 20 professionals achieved entirely in-house without external recruiters or those associated fees. We accomplished this by leveraging Spark Hire, our new recruiting and applicant tracking system, along with the guidance of our new Head of HR, Tom Hunley.

本季度的主要重點是成功招募和組建一支由 20 多名專業人員組成的新產品團隊，所有工作均在公司內部完成，沒有聘請外部招聘人員，也沒有支付相關費用。我們利用新的招募和應徵者追蹤系統 Spark Hire，以及新任人力資源主管 Tom Hunley 的指導，實現了這一目標。

Together, we screened and conducted multiple rounds of interviews with over 1,500 candidates. We were able to attract strong talent across engineering, development, design, AI, and robotics, providing the expertise needed to support our ongoing product work. More than half of these hires were sourced locally from the Indianapolis area which has a solid industrial and engineering base and as Dan mentioned, is increasingly expanding in other high-tech areas such as AI and IT.

我們共同篩選並進行了多輪面試，面試對象超過 1500 名候選人。我們成功吸引了工程、開發、設計、人工智慧和機器人等領域的優秀人才，為我們正在進行的產品工作提供了所需的專業知識。這些新員工中有一半以上來自印第安納波利斯當地，該地區擁有堅實的工業和工程基礎，正如丹所提到的，它正在人工智慧和資訊技術等其他高科技領域不斷擴張。

As Dan also briefly mentioned, to accommodate this growth and support our development and prototyping efforts, we were relocated the entire company to a new headquarters building in Fishers, Indiana.

正如丹也簡要提到的那樣，為了適應這種增長並支持我們的開發和原型製作工作，我們將整個公司搬遷到了印第安納州費舍爾市的新總部大樓。

We also continue to build out our IT security and compliance infrastructure in partnership with Synoptek, and the new product team is already well aligned and working on our next-generation arrive point and autonomous last mile platform which we plan to advance further next quarter.

我們也與 Synoptek 合作，繼續建立我們的 IT 安全和合規基礎設施，新產品團隊已經很好地協調一致，正在開發我們的下一代到達點和自主最後一公里平台，我們計劃在下個季度進一步推進。

Now I'd like to pass it over to Todd, our CFO.

現在我想把麥克風交給我們的財務長托德。

Thanks, Mark. From a financial perspective, our strategy remains rooted in disciplined, investment, and long-term scalability. Some key highlights for quarter three of this year.

謝謝你，馬克。從財務角度來看，我們的策略仍然以嚴謹的投資和長期的可擴展性為基礎。今年第三季的一些主要亮點。

Revenue saw an increase in recurring subscription revenue as we operationalize two new arrive points into monthly service. At this early stage in our business, we expect quarterly fluctuations in revenue as we build out and ramp customer agreements over time.

隨著兩個新的接入點投入月度服務運營，經常性訂閱收入增加。在公司發展的初期階段，隨著我們逐步建立和擴大客戶協議，我們預期季度收入將會波動。

In particular, project-based consulting revenue will not be linear throughout the year. These projects are typically thee- to four-month engagements to establish use cases and design the automation in a client's facility. Importantly though, these deals are structured to culminate in a recurring subscription for an arrive point service.

尤其值得注意的是，基於專案的諮詢收入在全年並不會呈現線性成長。這些專案通常為期三到四個月，旨在確定用例並設計客戶設施中的自動化方案。但重要的是，這些交易的結構最終是為了促成對到達點服務的定期訂閱。

Our net loss of $2.2 million compares to $0.8 million in the same quarter of 2024 and $4.7 million net loss in the second quarter of this year. Through strict cost management, we kept our spending to a minimum while still investing in our future growth. Although the hiring ramp in this quarter was aggressive, we came in approximately $1 million lower than planned on our operating expenses. We'll continue to exert this kind of cost discipline going forward.

我們本季淨虧損 220 萬美元，而 2024 年同期淨虧損 80 萬美元，今年第二季淨虧損 470 萬美元。透過嚴格的成本管理，我們將支出控制在最低限度，同時繼續投資未來的發展。儘管本季招聘力度很大，但我們的營運支出比計劃減少了約 100 萬美元。我們將繼續堅持這種成本控制策略。

Our cash and short-term liquid investments were $2.7 million at the end of the quarter. This was an increase of $2.1 million from the end of the prior quarter. In August we did receive net proceeds from our capital line of $4 million. We still have approximately $32 million remaining on that structured capital facility. We continue to manage expenses with precision while investing in the areas that will create recurrent value.

截至季末，我們的現金和短期流動投資為 270 萬美元。這比上一季末增加了 210 萬美元。8 月份，我們收到了資本貸款的 400 萬美元淨收益。我們在該結構化融資安排中仍有約 3,200 萬美元的剩餘資金。我們將繼續精準控制支出，同時投資於能夠創造持續價值的領域。

Additionally, we announced a $10 million share buyback program in quarter three. It's set to continue through the end of quarter one next year. To date, the company has repurchased 19,700 shares, representing less than 1% of the total authorized amount. This buyback reflects our confidence in the company's intrinsic value and an ongoing commitment to shareholder return.

此外，我們在第三季宣布了一項1000萬美元的股票回購計畫。預計將持續到明年第一季末。截至目前，該公司已回購 19,700 股，佔授權總股本的不到 1%。此次股票回購反映了我們對公司內在價值的信心，以及我們對股東回報的持續承諾。

We have fully implemented real-time financial controls and compliance dashboards, ensuring transparency and operational readiness for our next phase of growth.

我們已全面實施即時財務控制和合規儀錶盤，確保透明度，並為下一階段的成長做好營運準備。

Now I'll turn the call over to Neerav Shah, our Chief Strategy Officer.

現在我將把電話交給我們的首席策略官尼拉夫·沙阿。

Thanks, Todd. Appreciate that. In Q3, our focus on strategic verticals and partnerships continued to yield meaningful traction. Recent highlights include in the healthcare pharma space ongoing deployments at Hancock Health in Indiana, where we are optimizing robotic delivery of bios specimens, lab samples and medications, and we're looking forward to bringing their satellite campuses from the satellites to the 29th facility they have outside the hospital via drone to the network we have built inside.

謝謝你，托德。謝謝。第三季度，我們對策略垂直領域和合作夥伴關係的關注繼續取得了顯著成效。近期亮點包括：在醫療保健製藥領域，我們正在印第安納州的漢考克健康中心進行持續部署，優化生物樣本、實驗室樣本和藥物的機器人配送；我們期待將他們的衛星園區從衛星轉移到他們在醫院外的第 29 個設施，並透過無人機連接到我們在醫院內部建立的網路。

International delivery. We're expanding operations with Skye Air Mobility in India for drone to ground transportation logistics.

國際配送。我們正在與印度的 Skye Air Mobility 公司合作，擴大無人機到地面運輸物流業務。

Technology integration. We're advancing ToF sensor and edge AI optimization to increase delivery accuracy, reduce wasted stops, and enhance route intelligence.

技術整合。我們正在推進 ToF 感測器和邊緣 AI 優化，以提高配送準確率、減少無效停靠點並增強路線智慧。

We are also pursuing an America-first manufacturing strategy to strengthen domestic production capacity and reduce dependency on foreign supply chains. We're evaluating onshore manufacturing solutions both in-house and through US partners to mitigate global tariff risks and enhance production resilience. This initiative aligns with our vision to create and to scale responsibly while supporting national competitiveness and supply chain integrity.

我們也正在推行「美國優先」的製造策略，以增強國內生產能力，減少對外國供應鏈的依賴。我們正在評估內部製造和透過美國合作夥伴進行的本土製造解決方案，以降低全球關稅風險並增強生產韌性。這項措施與我們以負責任的方式進行創造和規模化發展，同時支持國家競爭力和供應鏈完整性的願景一致。

Now I'll turn over the call to John Ritchison, our Chief Legal Officer.

現在我將把電話交給我們的首席法務官約翰·里奇森。

Thank you, Neerav.

謝謝你，尼拉夫。

In quarter three, we strengthened our legal and regulatory position globally. We secured our ninth US patent reinforcing the Arrive AI's IP leadership. This patent completes a package that actually addresses drone deliveries, automated robots, and courier packages, and deliveries by humans. It permits all three modes of delivery to be received, secured, and cared for with a similar notice to the client that the package has arrived.

第三季度，我們加強了在全球範圍內的法律和監管地位。我們獲得了第九項美國專利，進一步鞏固了 Arrive AI 在智慧財產權領域的領先地位。這項專利完善了一攬子計劃，該計劃實際上涵蓋了無人機送貨、自動化機器人、快遞包裹以及人工送貨。它允許接收、保管和處理所有三種交付方式，並向客戶發出類似的包裹已到達通知。

Internationally we are gaining speed with a total of 80 foreign or non-US patent applications. Eight of these have been approved. Three of those eight were issued late in July, with an additional three this quarter but not yet published. These applications are including both our single and multi-user type units, which we call [Arrive Points].

在國際上，我們正​​加速發展，目前已提交了 80 項外國或非美國專利申請。其中八項已獲批准。這八份文件中有三份是在七月下旬發布的，另外三份是在本季度發布的，但尚未公佈。這些應用程式包括我們的單一用戶和多用戶類型的設備，我們稱之為[到達點]。

We're also monitoring the FAA BVLOS for the Beyond Visual Line of Sight rule, which will serve as a catalyst for autonomous delivery operations in the United States.

我們也密切關注美國聯邦航空管理局 (FAA) 的超視距飛行 (BVLOS) 規則，該規則將成為美國自主配送業務的催化劑。

Our compliance systems have been expanded to manage data, privacy, and cybersecurity across the domestic and international markets. We've also recently filed a trade secret lawsuit to protect our proprietary technology and strategic assets. Our legal and compliance infrastructure is built to safeguard the innovation that's driving our long-term growth.

我們的合規體系已擴展至管理國內和國際市場的資料、隱私和網路安全。我們最近也提起了一項商業機密訴訟，以保護我們的專有技術和戰略資產。我們的法律和合規體系旨在保護推動我們長期成長的創新。

And now I'll turn it back to Dan O'Toole for some closing remarks.

現在我把麥克風交還給丹‧奧圖爾，讓他做些總結發言。

Thank you, John, and thanks to everyone on our team. We believe we stand at the precipice of several catalyzing events that combined with our current share price and small float, can really serve to synergize and create substantial share price appreciation as we advance execution and scale.

謝謝你，約翰，也謝謝我們團隊的每一位成員。我們相信，我們正站在幾個催化事件的邊緣，這些事件與我們目前的股價和較小的流通股相結合，可以真正發揮協同效應，並在我們推進執行和擴大規模的過程中創造大幅的股價上漲。

Looking forward, we are transitioning from pilot programs to scalable deployments. Our projects with hospitals, retail partners, and municipalities are not trials. They are proof points and templates for nationwide expansion. The future of logistics is interoperable, intelligent, and autonomous, and Arrive AI is positioned to be the connective tissue linking shippers, carriers, and autonomous fleets.

展望未來，我們將從試點計畫過渡到可擴展的部署。我們與醫院、零售合作夥伴和市政當局進行的專案並非試驗。它們是全國擴張的有力證明和模板。物流的未來是互通的、智慧的和自主的，而 Arrive AI 將成為連接托運人、承運人和自主車隊的紐帶。

Our focus continues across three strategic pillars: commercialization and operational excellence, productizing our third-generation AP3 units, and refining our platform for scale, similar in impact to how Tesla, their supercharger network has accelerated e-mobility and become the standard.

我們繼續專注於三大戰略支柱：商業化和卓越營運、第三代 AP3 單元的產品化以及改進我們的平台以實現規模化，其影響類似於特斯拉及其超級充電網路如何加速電動出行並成為標準。

Patents and partnerships, expanding our actual property mode in forging alliances with strategic partners and our technology in their operations. And recurring value creation, building a platform as a service model where every installation, delivery, and data point captured drives recurring revenue. We are focused on executing our strategic priorities for the remainder of this year.

專利和合作關係，擴大了我們實際的產權模式，與策略夥伴建立聯盟，並將我們的技術應用於他們的營運。持續創造價值，建構平台即服務模式，其中每一次安裝、交付和採集的數據點都能帶來持續的收入。今年剩餘時間裡，我們將專注於執行各項策略重點。

One is team expansion. We are continuing our plan to triple our workforce, focusing on AI engineering and business development. We're also advancing the AP3 line and ongoing AP5 development to drive scalability and cost efficiency.

一是團隊擴張。我們將繼續推進員工人數增加兩倍的計劃，並專注於發展人工智慧工程和業務拓展。我們也在推進 AP3 產品線和正在進行的 AP5 開發，以提高可擴展性和成本效益。

Commercialization and recurring revenue that transition from pilots to commercial deployments while expanding our recurring revenue streams through network usage and data monetization. We are building the last inch of the logistics layer, a critical infrastructure that enables the future of autonomous delivery. With every deployment, patent, and partnership, we are laying the foundation for sustainable, scalable growth.

從試點計畫過渡到商業部署，實現商業化和經常性收入，同時透過網路使用和數據貨幣化擴大我們的經常性收入來源。我們正在建造物流層的最後一寸土，這是實現未來自主配送的關鍵基礎設施。每一次部署、每一項專利和每一次合作，我們都在為永續、可擴展的成長奠定基礎。

Thank you to our shareholders for your continued trust and support. As I often emphasize, Arrive AI is at the intersection of AI and autonomy. These are two of the hottest spaces in the world today. You get both of those with one company, Arrive AI, ticker symbol ARAI. We are executing with discipline, intent, and vision, building a company for the long-term.

感謝各位股東一直以來的信任與支持。正如我經常強調的那樣，Arrive AI 處於人工智慧和自主系統的交匯點。這是當今世界上最熱門的兩個領域。Arrive AI（股票代號 ARAI）是一家提供這兩項服務的公司。我們秉持嚴謹的紀律、明確的目標和遠見卓識，致力於打造一家長遠發展的公司。

Arrive AI started with an idea that we have executed on for the past 11 years. Pre-revenue, raising money, and delivering on the promise of the future is what we've done. We have seen countless companies come and go, and today we are bigger, faster, and stronger than ever before.

Arrive AI 的創立源自於一個想法，而我們在過去 11 年裡一直在實踐這個想法。我們已經完成了從無收入到籌集資金，再到兌現未來承諾的整個過程。我們見證了無數公司的興衰，而今天，我們比以往任何時候都更龐大、更快速、更強大。

My promise to every shareholder is to hold true to the values and culture that have gotten us to where we are today and to move ahead with speed, agility, and the success that this market has rarely seen. I love Arrive AI and being a part of this exciting moment is what gets me up every single day.

我向每一位股東承諾，我們將堅守讓我們走到今天的價值觀和文化，並以市場前所未見的速度、敏捷性和成功向前邁進。我熱愛 Arrive AI，能夠參與這個令人興奮的時刻中，是我每天起床的動力。

Thank you all for being with us. I'm going to open up the floor for questions now. Kylie, do you have anything you want to say?

感謝各位的陪伴。現在我將開放提問環節。凱莉，你有什麼想說的嗎？

No, Liz, you can open up for the calls.

不，莉茲，你可以接電話。

(Operator Instructions) I'm not showing any phone questions currently. I'd like to turn it back to Kylie.

（操作員指示）目前我沒有顯示任何電話諮詢。我想把球還給凱莉。

All right, Liz, thank you. We did have some question submissions ahead of the call on our new Arrive AI ideas board which we will use going forward for all of our earnings calls for everyone listening right now. You can also -- we'll be monitoring the live webcast questions as well. So if anyone listening would like to ask anything in this call, we are going to get to every single one of them.

好的，莉茲，謝謝你。在本次電話會議之前，我們透過新的 Arrive AI 創意板收到了一些問題提交，今後我們將在所有財報電話會議上使用該創意板，供所有正在收聽的聽眾參考。您也可以－我們也會關注網路直播中的提問。所以，如果任何聽眾想在這通電話中提問，我們都會一一解答。

Right now, we will go to the pre-call submission questions. The most popular question that was upvoted 10 times was expansion structure from [Greg]. Once the current hospital testing is complete, what is the thought of the next expansion step? For example, are you thinking corporate -- corporation home offices, apartment complexes, gated home communities next to their existing mailboxes, et cetera?

現在，我們將進入預答題環節。獲得10次讚的最熱門議題是：擴張結構[格雷格]目前醫院的測試完成後，下一步的擴建計畫是什麼？例如，您指的是企業—公司總部、公寓大樓、封閉式住宅社區及其現有郵箱等嗎？

Thanks for reading that, Kylie. This is Dan O'Toole, CEO. I'm going to -- the way we're going to do this, I'm going to filter the questions with Kylie, and then I'll designate who in our company is going to answer it. I'm going to give this one to Neerav, our Chief Strategy Officer.

謝謝你讀完這篇文章，凱莉。這是執行長丹·奧圖爾。我打算——我們打算這樣做，我會先和凱莉一起篩選問題，然後指定我們公司裡誰來回答。我將把這個機會交給我們的首席策略官尼拉夫。

Thanks, Dan. Greg, great question. Really appreciate that. Currently, we're operating inside Hancock, right? I'd mentioned earlier about the network and then going outside. The next step is to link Hancock's satellite facilities to the main hospital.

謝謝你，丹。格雷格，問得好。非常感謝。目前，我們的辦公地點在漢考克大樓內，對嗎？我之前提到過網絡，然後就出去了。下一步是將漢考克的衛星設施與主醫院連接起來。

But I'm super excited to link the inside and the outside autonomously so we'll be able to move product by ground robot from our arrive point outside the internal network of arrived points by a ground robot then outside by a drone. So Greg, I hope that answers your question.

但我非常興奮能夠自主地將內部和外部連接起來，這樣我們就可以先用地面機器人將產品從內部到達點網路的外部運送到地面機器人，然後再用無人機運送到外部。格雷格，希望這能解答你的疑問。

And the next question is about drones, Neerav. I see the biggest potential for Arrive AI in the drone space. This is coming from Ryan. Help me understand what competitive advantages your company has in this area and what initiatives you've launched to grow this area? Has the company struck any corporate partnerships with other drone manufacturing companies with recent Beyond Visula Line of Sight rule changes? This seems like a big opportunity.

下一個問題是關於無人機的，尼拉夫。我認為Arrive AI在無人機領域擁有最大的潛力。這是瑞恩說的。請您幫我了解貴公司在這個領域有哪些競爭優勢，以及為了發展這個領域，你們都推出了哪些措施？鑑於近期超視距飛行規則的變更，該公司是否與其他無人機製造公司建立了任何企業合作關係？這似乎是一個絕佳的機會。

Neerav, why don't you take that one too, but I'd also like you to talk a little bit our patent, for the (inaudible) delivery.

Neerav，你也來談談這個吧，我還想請你稍微講講我們的專利，關於（聽不清楚）交付。

Yeah, absolutely. And a couple of things, Dan, thank you for pointing that out. I just wanted to say just, Greg, to just wrap up the last question. Beyond healthcare, we're looking to establish private networks in other campus settings, I think corporate research campuses, office parks, et cetera.

是的，絕對的。丹，還有幾件事，謝謝你指出。我只想說，格雷格，算是最後一個問題的總結。除了醫療保健領域，我們還希望在其他校園環境中建立私人網絡，例如企業研發園區、辦公園區等等。

Until of course we established a large-scale public network to really blanket zip codes. So now Ryan -- sorry, Greg, I just want to wrap that up. Ryan, great question. We're eagerly awaiting FAA Part 108 and the massive opportunities John mentioned this earlier that await us. We're very bullish on the future. We're excited.

當然，直到我們建立了大規模的公共網絡，真正涵蓋了所有郵遞區號區域。好了，瑞恩——抱歉，格雷格，我只想趕緊結束這件事。瑞恩，問得好。我們熱切期盼 FAA 第 108 部分的到來，以及約翰之前提到的那些等待著我們的巨大機會。我們對未來非常看好。我們很興奮。

The administration, we're excited that the administration supports our vision and to quote Transportation Secretary Sean Duffy, we are making the future of aviation a reality and unleashing America's drone dominance. As you know, we aren't the drone, but we are futureproofed by our multi-modal strategy to be agnostic to human, ground robot, or drone delivery. But opening the skies makes our utility that much better.

我們很高興政府支持我們的願景，正如交通部長肖恩·達菲所說，我們正在將航空的未來變為現實，並釋放美國無人機的主導地位。如您所知，我們並非無人機本身，但我們的多模式策略使我們面向未來，無論採用人工、地面機器人或無人機進行配送。但開放天空讓我們的公用事業變得更有效率。

Thanks, Ryan.

謝謝你，瑞恩。

Next question is about growth strategy coming from Rahul. I would like to know the detailed growth plan for Arrive AI in the next few years. What is your strategy to acquire customers, to generate revenue, to reduce costs, and become a household staple? Are you planning a top-down approach such as start with the larger companies and then work to smaller companies and individuals?

下一個問題是關於拉胡爾提出的成長策略。我想了解Arrive AI未來幾年的詳細發展規劃。你們的策略是什麼？如何獲取客戶、創造收入、降低成本並成為家庭必備品？你們是打算採取自上​​而下的方法，例如先從大公司入手，然後再逐步擴展到小公司和個人嗎？

Thank you, Arrive AI.

感謝 Arrive AI。

Thanks for reading that, Kylie. Mark Hamm, our COO, I think, can take that one. Mark?

謝謝你讀完這篇文章，凱莉。我認為，我們的營運長馬克·哈姆可以勝任這項工作。標記？

Yes, we kind of have several approaches to growth in that five-year plan. Right now, we're laying a foundation of learning and innovation with our AP3 and improved versions of that coming and that will continue for the next 18 months or so. That's primarily aimed at where we see the most activity in medical healthcare, and some other areas.

是的，我們在五年計畫中確實有幾種成長策略。目前，我們正在以 AP3 及其改進版本為基礎，為學習和創新奠定基礎，這項進程將持續約 18 個月。這主要針對醫療保健領域以及其他一些領域，因為這些領域的活動最為頻繁。

And then layering into that we are moving in the direction year two, three, testing the ArrivePoint network with some improved models to facilitate that next generation. That will focus more on citywide kinds of delivery applications with some of the biggest partners that are operating drone and robotic networks now.

然後在此基礎上，我們正​​朝著第二年、第三年的方向發展，測試 ArrivePoint 網路的一些改進模型，以促進下一代的發展。這將更加側重於城市範圍內的配送應用，並與目前運營無人機和機器人網路的一些最大合作夥伴合作。

And then we believe once we kind of establish that network paradigm with those players, then we believe it'll be natural for the market to swing to rolling out geographically kind of like Uber rolled out an area at a time. It makes a lot of sense for our type of network with associated partners to target an area to provide enough delivery and service density using our network, and we think that'll be the growth path and that will also usher in more integration with smart-city types of applications.

然後我們相信，一旦我們與這些參與者建立了這種網路模式，那麼市場自然會轉向像 Uber 一次在一個地區推出服務那樣，按地域逐步推廣。對於我們這種擁有合作夥伴的網路來說，瞄準某個區域，利用我們的網路提供足夠的配送和服務密度，是非常有意義的。我們認為這將是發展之路，也將帶來與智慧城市類型應用的更多整合。

And so there'll be all kinds of go-to-market activity in sales and marketing that help drive that but that's the trajectory of applications that will be targeting over the next five years and how that ramps.

因此，銷售和行銷領域將會有各種各樣的市場推廣活動來推動這一目標，但這就是未來五年內應用程式的發展軌跡以及其成長速度。

All right, Mark, thank you.

好的，馬克，謝謝你。

Next question is from Michael. Speed, structure, and trust. As an early-stage public company operating in a fast-moving AI and logistics space, how are you balancing the need to innovate quickly with the discipline required for governance, financial transparency, and investor communication, especially as you build long-term trust and credibility in your execution?

下一個問題來自邁克爾。速度、結構和信任。作為一家在快速發展的人工智慧和物流領域運營的早期上市公司，您是如何平衡快速創新的需求與公司治理、財務透明度和投資者溝通所需的紀律的？尤其是在您努力建立長期信任和信譽的同時？

Michael, this is Dan. I'm going to take that one. Appreciate the question. If you've been with us pre-public, we had 5,000 investors prior to joining the Nasdaq, and they all know that transparency and communication have been the bedrock of our company.

邁克爾，這是丹。我選那個。感謝您的提問。如果你在公司上市前就關注我們，那麼在加入納斯達克之前，我們有 5000 名投資者，他們都知道透明度和溝通是我們公司的基石。

And we have kept that culture. I always say that this is the company -- I want this to be the company that I would invest in. What I mean by that is I want to know in real time what's happening, so we're true to that -- Kylie and I do a regular update show called the [Dance Show] where we give in as real time as we can, updates that are relevant to the company.

我們一直保留著這種文化。我一直說，這就是我想要投資的公司。我的意思是，我想即時了解正在發生的事情，所以我們一直秉持著這個原則——我和凱莉定期製作一檔名為[舞蹈秀]的更新節目，我們會盡可能實時地提供與公司相關的最新消息。

Obviously being public, there's a lot of compliance that is built into that that we execute on every day. I'm really proud of how we've started this company. We've always conducted it as a public company. We did regular PCAOB audits which are public company audits, even when we're a private company we've always had Board oversight. And we've always ran this like we would run it if it had our last dollar at stake.

顯然，作為一家上市公司，我們每天都要遵守許多合規要求。我為我們創辦這家公司的方式感到非常自豪。我們一直都是以上市公司的形式運作的。我們定期接受美國公眾公司會計監督委員會 (PCAOB) 的審計，這是上市公司審計，即使我們是一家私人公司，我們也一直受到董事會的監督。我們一直以來都像對待自己最後一分錢都押在這件事上一樣認真對待它。

So really proud of that. As far as moving fast, we believe speed is everything. I always say if you have your foot all the way down on the gas pedal, you went up for second and we apply, you never get back to where you were. So we've got our ears pinned back going down (inaudible), and we're having a lot of fun doing it and we've got some great outcomes that you guys will be seeing.

我真的為此感到驕傲。至於快速行動，我們認為速度就是一切。我常說，如果你把油門踩到底，然後升到二擋，我們申請，你就再也回不到原來的位置了。所以我們把耳朵向後貼著往下（聽不清楚），我們玩得很開心，而且我們取得了一些很棒的成果，你們很快就會看到。

A great question. I appreciate it, and I think I'll turn it back to Kylie here.

問得好。我很感激，我想我會把這件事轉告給凱莉。

Thanks, Dan. And the next question is from [Isabella]. Keep in mind as I ask this question, we were founded under the name Dronedek. We have since rebranded to Arrive AI. So clearly, this is one of our early investors.

謝謝你，丹。下一個問題來自[伊莎貝拉]請記住，在我提出這個問題時，我們公司最初的名字是 Dronedek。我們已更名為 Arrive AI。很明顯，這是我們的早期投資者之一。

So Isabella, thanks for hanging with us and submitting a question. The question is: time schedule for the drone decks to be available for customers. I'd like to know where we're standing on this. Are we looking at two years, four, or more?

伊莎貝拉，謝謝你抽出時間陪我們，並提交了問題。問題是：無人機空拍平台何時提供給客戶使用？我想知道我們目前在這個問題上的立場是什麼。預計需要兩年、四年還是更長？

Isabella -- thanks, Kylie. Great recognition of the OG. I really appreciate that. I love that. I love that. Since the company is no longer called Dronedek, that hurts my feelings every day.

伊莎貝拉——謝謝你，凱莉。對元老級人物的高度認可。我非常感謝。我喜歡這個。我喜歡這個。公司不再叫Dronedek了，這讓我每天都很難過。

I'm just kidding. I'm going to throw this one over to Mark.

我只是在開玩笑。這個問題我交給馬克回答。

Hey, everybody. Yeah, there's a natural progression of how end users get exposure to and ultimately obtain arrive points in the early going as I just explained in my prior question or answer. We have to work with partners to establish the network capabilities and build ecosystems of partners that can autonomously serve a network of arrive points.

大家好。是的，正如我在先前的問題或答案中解釋的那樣，最終用戶在早期階段接觸並最終獲得目標點的過程是一個自然的發展過程。我們必須與合作夥伴共同努力，建立網路能力，並建立能夠自主服務到達點網路的合作夥伴生態系統。

And so it does a little good if an individual consumer orders an arrive point in the middle of an area that has no services supporting it. So it will take a couple years to go through the pilots with the partners establish the network and then develop a cadence where this rolls out an area at a time. This is more of a B2B, B2C rollout where many partners will be responsible and help get arrive points to end users both business and consumer.

因此，如果單一消費者訂購的送貨地點位於某個沒有服務支援的地區的中心地帶，那並沒有什麼好處。因此，需要幾年時間與合作夥伴進行試點，建立網絡，然後制定節奏，一次在一個地區推廣。這更像是一種 B2B、B2C 的推廣方式，許多合作夥伴將負責並幫助最終用戶（包括企業和消費者）獲得產品。

So that'll be a progression. We will find ways to communicate when it's coming to an area near you, but that's still a work in process that I would say is going to take several years to complete, according to our current plans.

所以這將會是一個循序漸進的過程。當這項服務來到您附近的地區時，我們會想辦法與您溝通，但這仍然是一項正在進行中的工作，根據我們目前的計劃，我認為還需要幾年時間才能完成。

Mark, thanks. This other question kind of piggybacks off of that. It's about subscription questions. It's from [Eric]. He says, I know in the past it's been mentioned that the goal for arrive points would be to provide them on a monthly subscription basis rather than a large upfront purchase. If memory serves me correctly, I believe the target was around $15 a month. Is this still the gold target price, or has that had to change significantly?

馬克，謝謝。另一個問題其實是由此引申出來的。這是關於訂閱的問題。它來自[艾瑞克]他說：“我知道過去曾有人提到，到達點的目標是按月訂閱的方式提供，而不是一次性大額購買。”如果我沒記錯的話，目標金額應該是每月約 15 美元。這仍然是黃金的目標價嗎？還是已經發生重大變化了？

Hey, Mark, why don't go ahead and (technical difficulty)

嘿，馬克，你為什麼不繼續呢？（技術難題）

We continue to innovate on the pricing. That's part of what we're doing in our present pilots, and it is definitely the case that we'll have network-as-a-service fees to obtain these and that we're aiming at very low-price points. Right now, future projection here, we are targeting business models that may actually supply them for free or all the way up to points that exceed $15 a month. Those are all well within the range.

我們在定價方面不斷創新。這是我們目前試點計畫的一部分內容，而且我們肯定會收取網路即服務費來獲取這些服務，我們的目標是將價格控制在非常低的水平。目前，就未來預測而言，我們瞄準的是那些可能完全免費提供這些服務，或每月收費超過 15 美元的商業模式。這些都在範圍內。

We expect that there may be partners that will ultimately sponsor these to certain businesses and consumers, and we'll provide other mechanisms for businesses and consumers to access them affordably and maybe even free in some instances. So that's the direction we're working. Yes, the details are changing. That's kind of part of innovation and getting traction in the market, but that's still a relevant target for us that we're pursuing.

我們預計最終可能會有合作夥伴贊助這些服務提供給某些企業和消費者，同時我們也會提供其他機制，讓企業和消費者能夠以可負擔的價格，甚至在某些情況下免費獲得這些服務。這就是我們努力的方向。是的，細節正在改變。這算是創新和獲得市場認可的一部分，但對我們來說，這仍然是我們正在追求的相關目標。

Mark, thanks.

馬克，謝謝。

Next question is from Jason about partnership updates. I heard a lot about Hancock Health, rightfully so, but can you give any updates on the following partnerships? Go to delivery, Peachtree Corners, Skye Air Mobility, Allmart, ACT Antigua.

下一個問題來自Jason，詢問合作關係的最新進展。我聽說了很多關於漢考克健康中心的消息，這的確不假，但您能否提供以下合作關係的最新進展？送貨地點：Peachtree Corners、Skye Air Mobility、Allmart、ACT Antigua。

Thank you, Kylie.

謝謝你，凱莉。

Neerav, our Chief Strategy Officer. You want to continue and answer this one?

尼拉夫，我們的首席策略長。你想繼續回答這個問題嗎？

Yeah, thanks, Dan. That's a great list. It looks like you're running for my job with the comprehensive list, and I really appreciate you keeping track of our progress. All of our opportunities have met their initial deliverables, and we're looking to grow the relationships further. We have a bunch of exciting prospects coming up and hopefully we can announce a deal before the end of the year and give an early Christmas present to Dan.

謝謝你，丹。那真是一份很棒的清單。看來你這是要憑藉這份詳盡的清單來競選我​​的職位了，我非常感謝你一直關注我們的進展。我們所有的合作機會都已達到預期目標，我們希望進一步發展這些合作關係。我們有很多令人興奮的前景，希望我們能在年底前宣布達成協議，提前送給丹一份聖誕禮物。

So fingers crossed, guys. But yeah, thanks. Great question. Just a quick note, I kind of forgot to mention it earlier. So in the drone space, we see drone deliveries happening in many ways. You can land, you can winch, you can drop, but I just wanted to just highlight our winch patent, and we think that in the short-term, at a minimum, winches will represent a vast majority of deliveries in the short-term. And I just wanted to mention that. So thank you.

所以，祝各位好運吧。不過，謝謝。問得好。簡單提一下，我之前忘了提。因此，在無人機領域，我們看到無人機送貨以多種方式進行。你可以著陸，你可以用絞盤吊運，你可以投放，但我只想重點介紹一下我們的絞盤專利，我們認為至少在短期內，絞盤將佔據絕大多數的交付方式。我只是想提一下這一點。所以，謝謝你。

All right, Neerav, thank you.

好的，尼拉夫，謝謝你。

Next question from Dexter, states and cities expansion. Any ideas on how we as individuals can help the company get recognized in urban cities such where we live? We understand that this is a system that all cities will have. How can we help get the city expansion process going as individuals who are in the company?

Dexter提出的下一個問題是關於州和城市的擴張。作為個人，大家有什麼辦法可以幫助公司在我們居住的城市等地區獲得認可？我們了解到，所有城市都將採用這種系統。身為公司的一員，我們如何幫助推動城市擴張進程？

Neerav, I'll throw that back to you, too.

尼拉夫，我也把這個問題丟給你。

Thanks, Dan. So we're really -- and Mark, if you want to jump in, I know we kind of talked about this earlier. But we're looking at expanding in zip codes and I think it's a function of a private network and a public network. Right now, we're kind of in the private network space and Mark, if you want to talk a little bit about the public network?

謝謝你，丹。所以我們現在真的——馬克，如果你想插一句，我知道我們之前已經討論過這個問題了。但我們正在考慮擴大郵政編碼範圍，我認為這取決於私人網路和公共網路。目前，我們主要討論的是私有網路領域。馬克，你想稍微談談公共網路嗎？

Yeah, so as Neerav just mentioned, typically, these pilots are private networks maybe surrounding a hospital or working with a certain company on automated deliveries, and we see how they increasingly progress to become public networks and we're targeting the bigger arrive point network type pilots in year two of our plan, which will exercise large numbers of public units, which are generally, I think, what people are thinking of when they think about accessing arrive points.

是的，正如 Neerav 剛才提到的，通常情況下，這些試點項目是圍繞醫院的私人網絡，或與某家公司合作進行自動化配送。我們看到它們逐漸發展成為公共網絡，而我們計劃在第二年的目標是規模更大的到達點網絡類型的試點項目，這將使用大量的公共單元，我認為這通常是人們想到到達點時所想到的。

And then as we said kind of earlier, it will ultimately progress where individuals can have those subscriptions or have them at their localities and that will be kind of their choice and/or a network decision whether those are public and private. So again, the rate at which those roll out, we have to go through this progression of establishing the partnerships, the network capability.

然後，正如我們之前所說，最終會發展到個人可以訂閱或在當地使用這些服務，這將是他們的選擇，也是網路營運商的決定，無論這些服務是公共的還是私人的。所以，要實現這些目標，我們必須經歷建立合作夥伴關係和網絡能力的這個循序漸進的過程。

And then we'll learn a lot from that process and that will dictate how we roll out area by area whether they're public, they're private, and how people obtain access to them. So it is going to be a journey, but we're underway.

然後，我們將從這個過程中學到很多東西，這將決定我們如何逐一區域地推出這些服務，無論是公共的、私有的，以及人們如何獲得存取權限。所以這將是一段旅程，但我們已經踏上了旅程。

Thanks, Mark.

謝謝你，馬克。

Next question from John about Amazon Prime. It would be great if my Amazon Prime membership came with an arrive point box.

約翰接下來要問一個關於亞馬遜Prime的問題。如果我的亞馬遜Prime會員資格能附帶一個取貨點就太好了。

Why don't you read the next one too, Kylie? I think they (inaudible)

凱莉，你為什麼不也看看下一本？我認為他們（聽不清楚）

Sure, the next one is also about Amazon. From Andrew, it says, obviously the biggest potential partner for long-term business growth in this sector is Amazon. What steps are being taken to build relations with Amazon to increase likelihood of future business relationships as their drone delivery program expands?

當然，下一個也是關於亞馬遜的。安德魯表示，顯然，該行業長期業務成長的最大潛在合作夥伴是亞馬遜。隨著亞馬遜無人機送貨專案的擴展，公司正在採取哪些措施來加強與亞馬遜的關係，以提高未來建立業務合作關係的可能性？

I'm Dan. I'll take that one. We love Amazon, obviously. I don't think it's a secret that everybody knows that Amazon would be a great partner, acquire, whatever, of Arrive AI. There's a lot of synergies there, obviously we whiteboard a lot of ideas, and one of the things that we thought of if you're an Arrive Prime member, you get a free arrive point we think that'd be great.

我是丹。我選那個。我們當然喜歡亞馬遜。我認為大家都知道，亞馬遜會是 Arrive AI 的絕佳合作夥伴、收購對像等等，這應該不是什麼秘密。這其中有很多協同效應，顯然我們用白板寫了很多想法，其中我們想到的一點是，如果你是 Arrive Prime 會員，你就能獲得一個免費的 Arrive 積分，我們認為這會很棒。

Yet to be seen, it's not our decision to make, but if you guys are all thinking along those lines, obviously, we're thinking along those lines and maybe Amazon is too. We don't really comment on strategic partnerships that haven't been disclosed yet, so not trying to be evasive, transparency and communication. We can't state anything. You guys will always hear it first.

目前還不得而知，這不是我們能決定的，但如果你們都這麼想，顯然我們也是這麼想的，也許亞馬遜也是這麼想的。對於尚未公開的策略夥伴關係，我們通常不予置評，所以並非有意迴避，而是力求透明和溝通。我們無可奉告。你們總是會先聽到。

We want people to hear things from our company, not on the street, so we're always in a race to disclose things. And if anything like that were to come about, you guys would be the first one to know about it. You're all co-owners with me in this company, and we take a lot of pride in that. So I'll turn it back to Kylie here.

我們希望人們從我們公司而不是從街頭巷尾聽到消息，所以我們一直在爭分奪秒地披露資訊。如果真有這樣的事情發生，你們將會是第一批知道的人。你們都是這家公司的共同所有者，我們為此感到非常自豪。所以，現在我把話題轉回給凱莉。

All right, Dan, thank you.

好的，丹，謝謝你。

Next question is from Chad. About stock, he says, hello, I would like to know about prior stock purchases. When I bought the stock, it was under the Dronedek name. Now that the name has changed, what happens to the stock? Thanks.

下一個問題來自查德。關於股票，他說：“你好，我想了解一下之前的股票購買情況。”我買股票時，股票名稱是 Dronedek。既然公司名稱已經更改，股票會受到什麼影響？謝謝。

I'm going to pair that with another one, right after that, asking from Lee, what to do with those shares that were purchased before we were public, before Arrive AI was public? Do I need to do something to convert these shares? I don't want to, but what if I wanted to sell them? How would I do that? And so kind of together, we can answer this, Chad and Lee, in one answer, I believe.

接下來，我要向 Lee 提出另一個問題，詢問如何處理在我們上市之前，也就是 Arrive AI 上市之前購買的那些股份？我需要做些什麼來轉換這些股票嗎？我不想這樣做，但如果我想賣掉它們呢？我該怎麼做呢？所以，查德和李，我相信我們可以一起回答這個問題，用一個答案來回答。

Thanks, Kylie. I'm going to turn this one to Todd Pepmeier, our CFO. Todd, do you want to grab that?

謝謝你，凱莉。我將這個問題交給我們的財務長托德·佩普邁爾來回答。托德，你想拿那個嗎？

Yeah, first of all, thanks to both questions, early investors interested in the company, whether you bought stock as drone -- when we were Dronedek or Arrive, all of the shares reside with our transfer agent, Odyssey Trust.

首先，感謝你們提出的這兩個問題。對於早期對公司感興趣的投資者，無論你們是以 Dronedek 還是 Arrive 的名義購買股票，所有股份都由我們的過戶代理機構 Odyssey Trust 持有。

And you can send us an email at investorrelations@arriveai.com or contact us at odysseytrust.com. Your shares are there, they're safe. They can be transferred to the broker of your choice through Odyssey, our transfer agent.

您可以透過 investorrelations@arriveai.com 發送電子郵件或造訪 odysseytrust.com 與我們聯絡。您的股份都在那裡，安全無虞。您可以透過我們的轉帳代理 Odyssey 將它們轉帳給您選擇的經紀人。

All right, Todd, thank you. And the last question that was pre-call submitted, we'll get to the live webcast questions right after this, but it's from Sergio. He says, commercialization roadmap and expansion milestone. Mark has touched on this a little bit in the five-year roadmap. I'll still go ahead and read this question.

好的，托德，謝謝你。最後一個問題是預先提交的，我們稍後會討論網路直播中的問題，這個問題來自塞爾吉奧。他表示，商業化路線圖和擴張里程碑。馬克在五年規劃中已經稍微提過這一點。我還是會繼續閱讀這個問題。

He says, as an investor, I'd like to understand where Arrive currently stands in its commercialization journey, whether the company has moved beyond pilot operations into a defined expansion phase, and what metrics best reflect that progress such as active customers or fully operational smart mailboxes? As Arrive advances toward large scale deployment, how's the company balancing vertical growth across key sectors with horizontal expansion into new regions while ensuring that governance, capital efficiency, and data integrity scale alongside operations?

他表示，作為一名投資者，我想了解 Arrive 目前在商業化進程中處於什麼階段，該公司是否已經從試點運營進入了明確的擴張階段，以及哪些指標最能反映這一進展，例如活躍客戶或完全運營的智慧郵箱？隨著 Arrive 向大規模部署邁進，該公司如何在關鍵產業的垂直成長與向新地區的橫向擴張之間取得平衡，同時確保治理、資本效率和資料完整性能夠隨著營運規模的擴大而擴展？

Finally, could you share a high-level roadmap outlining the expected milestones in the short, medium, and long-term so investors can better track commercialization progress and market expansion over time?

最後，能否分享一份概述短期、中期和長期預期里程碑的高級路線圖，以便投資者能夠更好地追蹤商業化進展和市場擴張情況？

Kylie, can you restate that question?

Kylie，你可以重新表達這個問題嗎？

Let me take a drink of water first.

讓我先喝口水。

Sergio, come up for air, man. That's a great question. Mark, I'm going to throw that over to you, and I'm also going to say if anybody in the room wants to answer any component of that, that's a big -- there's a lot to unpack there. A lot of it we did cover in this call already, but Sergio, we love you. So Mark, jump in there.

塞爾吉奧，上來透透氣吧，老兄。這是一個很好的問題。馬克，我把這個問題交給你來回答。另外，如果房間裡有人想回答其中的任何一部分，那可就麻煩了——這裡面有很多東西需要探討。很多內容我們已經在這次通話中討論過了，但是塞爾吉奧，我們愛你。馬克，快進去吧。

Yeah, so a couple of things on this. One, we do have a public investors deck that has a graphic and a lot of detail on the five-year plan, so you don't just have to hear it verbally on this call. But again, that plan, starting this past quarter, is to continue building on our customer relationships, learning, and innovation with AP3. And you've heard about that simultaneous.

是的，關於這件事有幾點需要說明。第一，我們有一份公開的投資者演示文稿，其中包含圖表和五年計劃的大量細節，所以您不必僅僅通過這次電話會議口頭了解。但再次強調，從上個季度開始，該計畫旨在繼續加強與 AP3 的客戶關係、學習和創新。你也聽過這種同步傳輸吧。

And in parallel with that, we're building a next-generation platform for all drone and robotic delivery, that vision that Dan mentioned being the horizontal interoperable network kind of like the Tesla network is for EV vehicles. That's where we are in the current year. That's going to progress to arrive point network pilots in year two and then scaling manufacturing and product improvements in year three.

同時，我們正在建造一個面向所有無人機和機器人配送的下一代平台，正如丹所提到的，這是一個橫向互通網絡，有點像特斯拉網路之於電動車。這就是我們今年所處的階段。第二年將推動到達點網路試點項目，第三年將擴大生產規模並改善產品。

The product improvements coming from the pilot and ultimately, helping us configure that very scalable unit and then we're aiming at volumes of about 10,000 and 100,000, respectively in years four and five, and so that's kind of the progression of the product.

試點帶來的產品改進最終幫助我們配置了這款可擴展性很強的裝置，然後我們的目標是在第四年和第五年分別達到約 10,000 台和 100,000 台的產量，這就是該產品的發展歷程。

You also asked about how we're doing that in the progression of markets. So right now, our efforts are testing lots of markets. The network as it goes out is really more like infrastructure and will support many types of businesses, business models and in customers in a given area. So it really is -- like infrastructure there and each of those over time will develop specific strategies for selling into an increasing utilization of the network for specific industries, customer types, partner types, specific autonomous networks.

您也問到我們在市場發展過程中是如何做到這一點的。所以目前，我們正在測試很多市場。網路向外擴展後，實際上更像是基礎設施，它將支援特定區域內多種類型的企業、商業模式和客戶。所以它確實如此——就像那裡的基礎設施一樣，隨著時間的推移，每個基礎設施都會制定具體的銷售策略，以適應特定行業、客戶類型、合作夥伴類型和特定自治網絡對網絡的日益增長的利用。

So all of that will start occurring towards the end of the four-year -- of the five-year plan as we start to scale the volume. Prior to that, we're trying to get the right product, the right partners tested in the right environment as a network, and then we'll simultaneously scale production, go to market, and roll out a geography at a time, really starting in year five and beyond.

因此，所有這些將在四年計劃的後期——也就是五年計劃的後期——開始發生，屆時我們將開始擴大規模。在此之前，我們正在努力尋找合適的產品和合作夥伴，並在合適的網路環境下進行測試，然後我們將同時擴大生產規模，推向市場，並逐步在特定地區推廣，真正從第五年開始，甚至更久。

I'd add to that. I'd add to that that ultimately just in the US alone, I believe the number's [$170 million] business and residential addresses and our ambition is to reach at least half of that. That's a long-term goal. It'll take a long time, but you can see that ultimately, we have to deliver millions of units so that this infrastructure is everywhere because we think the Jetsons were right. The future is drone and robotic delivery.

我還要補充一點。我還要補充一點，最終僅在美國，我相信這個數字是 [1.7 億美元]，涵蓋商業和住宅地址，而我們的目標是至少達到其中的一半。那是一個長期目標。這需要很長時間，但你可以看到，最終我們必須交付數百萬套設備，讓這種基礎設施遍布各地，因為我們認為《傑森一家》是正確的。未來屬於無人機和機器人送貨。

All right, Mark, thank you.

好的，馬克，謝謝你。

So now we're going to go to the submissions through the webcast link that were coming in live during the call. The first one we want to get to is from an analyst from Maxim Group, Jack Vander Aarde submitted a few questions here. I'll start with one that we've touched on here and there, but it gets a little bit more specific.

現在我們要來看看在通話期間透過網路直播連結即時提交的內容。我們首先要回答的是來自 Maxim Group 的分析師 Jack Vander Aarde 提出的幾個問題。我先從一個我們偶爾會提到但又更具體的問題開始。

He says, can you speak to your five-year plan to scale arrive points to 1,000, 10,000, and beyond? What are some of the key partnerships and initiatives you're focused? Can you speak to the pricing model as it relates to the commercial and residential verticals? Are you working on both verticals simultaneously?

他說，您能否談談您五年內將到達點數擴大到 1,000、10,000 甚至更多的計劃？您目前重點關注哪些關鍵合作關係和措施？您能否談談商業和住宅領域的定價模式？你們是同時負責這兩個領域的工作嗎？

I think Mark kind of touched on this and we did this in our call as well, Jack, but I'm going to let Mark readdress this. Mark, you want to jump in with Jack here?

我覺得馬克已經稍微提到過這一點，傑克，我們在通話中也討論過這個問題，但我還是讓馬克再談談吧。馬克，你想和傑克一起加入嗎？

Yeah, we did answer a lot of elements around this and there is a level of detail that Dan referred to that we can't share yet, some of it's being learned and innovated on. And other parts of it are strategic and other parts are theses that are yet to be proven with partners so we can't reveal any of that ahead of time. It is the case that we are looking -- working at a network level solution ultimately so we have to simultaneously be working on in customers that are both consumers and residential as well as the ecosystem that provides the services they'll want and the autonomous networks, both drone and robotic that'll help those service providers deliver to the end customers using our network.

是的，我們確實解答了圍繞這方面的許多問題，丹提到的一些細節我們目前還不能透露，有些內容我們正在學習和創新中。還有一些部分是策略性的，有些部分是需要與合作夥伴一起驗證的理論，所以我們不能事先透露任何內容。我們正在尋求的是——最終目標是實現網路層面的解決方案，因此我們必須同時專注於消費者和居民客戶，以及為他們提供所需服務的生態系統，還有能夠幫助這些服務提供者使用我們的網路向最終客戶提供服務的自主網路（包括無人機和機器人）。

So that's all part of the plan. You asked for many specifics in there that I think we're just not prepared to answer yet while we work on them and hash them out over this multi-year plan.

所以這一切都在計劃之中。你問了很多具體問題，我認為我們目前還無法回答，因為我們正在製定這項多年計劃，需要時間去研究和討論這些問題。

Okay, and to continue on with Jack Vander Aarde's submissions. Can you touch on your hiring plans and sales and marketing initiatives? Can you touch on Hancock Health? What is some of the feedback on product design?

好的，接下來繼續介紹傑克·范德阿爾德的投稿。能否談談貴公司的招募計畫以及銷售和行銷措施？您能談談漢考克健康中心嗎？關於產品設計，有哪些回饋意見？

Mark, I'm going to -- I'm sorry, I'm going to hand that one over to Neerav. Neerav, you're handling that.

馬克，我要──對不起，我要把這個任務交給尼拉夫。尼拉夫，這件事就交給你處理了。

Thanks, Dan. I'll let Mark jump in on the hiring plans on the team, but I'll address the second, the last two-thirds of the question. So we hired -- so a lot of the sales till they have been founder driven, Dan's been involved very heavily, but we just recently hired a wonderful sales person named Robert Rex who comes out of the workplace automation industry, and he's going to be leading -- he's the new VP of Sales.

謝謝你，丹。我會讓馬克來談談團隊的招募計劃，但我會回答問題的第二個部分，也就是最後三分之二。所以我們聘請了——在此之前，銷售工作大多由創始人主導，丹也深度參與其中，但我們最近聘請了一位名叫羅伯特·雷克斯的優秀銷售人員，他來自工作場所自動化行業，他將領導——他是新的銷售副總裁。

So regarding Hancock Health, I earlier mentioned the drone part of it, right? We're connecting the inside of the network to the outside via drone. And then Jack, thanks for the question on product design. Great question. We've really been spending a ton of time looking at the door design and thinking about what's required inside the hospital versus outside the hospital and so we are interestingly looking at optional other ideas for the inside units and maybe a garage door style opening so yeah, stay tuned. A lot of exciting things happening.

關於漢考克健康中心，我之前提到過無人機部分，對吧？我們正在透過無人機將網路內部與外部連接起來。傑克，謝謝你提出的關於產品設計的問題。問得好。我們花了大量時間研究門的設計，思考醫院內部和醫院外部的需求，因此我們正在饒有興趣地研究內部單元的其他可選方案，也許可以採用車庫門式的開口，敬請期待。發生了很多令人興奮的事情。

Mark, you want to take the other part of that product team hiring?

馬克，你想負責產品團隊招募的另一部分嗎？

Yeah, can we repeat the part of the question that is remaining?

是的，我們可以重複剩下的問題嗎？

Can you touch on your hiring plans and then sales and marketing initiatives?

能否談談貴公司的招募計畫以及銷售和行銷措施？

Okay, yeah, so we just achieved a major goal of, I think the number is about 5x our employee base in this last quarter. We're over 40 folks, the vast majority of which are focused on the current go to market, the current product, and now, more than half of that is on the next-gen product technologies necessary to deliver the network and the platform.

好的，是的，我們剛剛實現了一個重大目標，我認為上個季度員工人數大約是員工總數的 5 倍。我們有 40 多人，其中絕大多數人專注於當前的市場推廣和現有產品，而現在，超過一半的人專注於交付網路和平台所需的下一代產品技術。

As those go into pilot next year, that will create a [pole] for an equal scale of hiring to support it in the field to work with those partners, and so that's kind of directionally where our hiring will be going and there'll be gaps and other things to fill in between, and then that all is aligning with our go to market.

隨著這些計畫明年進入試點階段，這將為同等規模的招募創造條件，以支持實地與合作夥伴開展工作。因此，這大致就是我們招募的方向，期間會有空缺和其他需要填補的職位，而這一切都與我們的市場推廣策略一致。

Our go to market isn't just kind of blanket marketing. It will be really targeted relationships and business development with those strategic partners and then as we focus on an area within customers, then we'll jointly market the Arrive Point network and the services from our partners for that area. So you'll see more of that activity the end of the second year of the plan and then we'll be scaling that as we go.

我們的行銷策略並非簡單的全面行銷。我們將與這些策略夥伴建立有針對性的關係和業務發展，然後，當我們專注於客戶中的某個領域時，我們將共同推廣 Arrive Point 網路以及我們合作夥伴在該領域的服務。所以，在計畫的第二年末，你會看到更多這樣的活動，然後我們會隨著計畫的推進逐步擴大規模。

Thanks, Mark.

謝謝你，馬克。

Next question from Rahul. Is the 20x valuation from the original share price when the shares were first listed, or from what point of time is that? Thank you.

拉胡爾的下一個問題。20倍的估值是從股票首次上市時的原始股價開始計算的，還是從哪個時間點開始計算的？謝謝。

Thank you, Rahul. I'm going to let our CFO, Todd, handle that question.

謝謝你，拉胡爾。這個問題我將交由我們的財務長托德來回答。

So we don't, as a rule, don't comment on share price directly, but when we talk in terms of growth potential, we look at that in terms of the today's market cap. So it'd be the current market cap.

因此，我們通常不會直接評論股價，但當我們談論成長潛力時，我們會根據當前的市值來看待。所以，它就是當前的市值。

All right, Todd, thank you.

好的，托德，謝謝你。

Next from Rick, your Q2 earnings reported over $90,000 in revenue, but Q3 dropped to less than $8,000 with partnerships claimed in both quarters. Can you reconcile the source and timing of Q2 revenue on the record, specifying which customer contracts generated this revenue and why similar contracts disappeared in Q3 as confirmed by SEC filed invoice or payment receipts?

接下來是里克的報告，你的第二季財報顯示收入超過 9 萬美元，但第三季下降到不到 8,000 美元，兩季都聲稱有合作關係。能否核實第二季收入的來源和時間，具體說明哪些客戶合約產生了這些收入，以及為什麼類似的合約在第三季消失了（以提交給美國證券交易委員會的發票或付款收據為準）？

Yeah, thanks Rick. I'm going to ask Todd to continue and take this one too, Rick.

謝謝你，里克。瑞克，我打算讓托德繼續，也讓他來做這件事。

Thanks, Dan. So in Q2, I think in that call, we described the nature of consulting short-term project type engagements versus recurring subscription revenue, and we've always said that the project type consulting revenue will not be linear. For example, in Q2, a big chunk of that revenue reported was a project we completed in the quarter with Hancock Health.

謝謝你，丹。所以在第二季度，我認為在那次電話會議上，我們描述了諮詢短期專案類型業務與經常性訂閱收入的性質，我們一直都說專案類型諮詢收入不會是線性成長的。例如，在第二季度，報告的收入有很大一部分是我們當季與 Hancock Health 完成的一個專案。

In Q3, we didn't have any revenue recognition on consulting and project-based revenue, but what we did see in Q3 was growth in our recurring subscription revenue, which always comes at the culmination of those consulting projects. So importantly, some of the big subscriptions that came online in Q3, we only sort of a third reflected in about a third of the quarter.

第三季度，我們沒有確認任何諮詢和專案收入，但我們在第三季度看到的是經常性訂閱收入的成長，這總是在諮詢專案結束時實現的。因此，值得注意的是，第三季上線的一些大型訂閱服務，我們只在第三季的三分之一左右有所體現。

So it's going to be really difficult at this early stage to give a completely predictable quarter-by-quarter view of our revenue, but that's the essentially the explanation, the lumpiness associated with projects versus the stickiness of recurring revenue.

因此，在現階段，要完全預測我們每季的收入狀況是非常困難的，但這基本上就是原因所在：專案收入的波動性與經常性收入的穩定性之間的差異。

Next question from Sergio. As the company accelerates expansion, adding new hires, relocating to a larger facility, and increasing operating expenses, how is this growth being financed given the current revenue trajectory, and how is the company funding its share repurchase activities in the absence of meaningful revenue?

塞爾吉奧的下一個問題。隨著公司加速擴張，增加新員工，搬遷到更大的廠房，並增加營運支出，鑑於目前的收入成長軌跡，這種成長是如何融資的？在沒有實質收入的情況下，公司又是如何為其股票回購活動提供資金的？

Additionally, what compensation strategy, including equity-based incentives such as stock options or restricted shares is being used to attract and retain top talent? And what key partnerships or strategic initiatives support this phase?

此外，公司採用了哪些薪酬策略（包括股權激勵，如股票選擇權或限制性股票）來吸引和留住頂尖人才？哪些關鍵夥伴關係或策略措施支持此階段？

Finally, how much operational runway does the company have before requiring additional capital? I think this will need to be answered by a few different team members. So first, starting with the first question about new hires, larger facility, how is the growth being financed given the current revenue?

最後，在需要額外資金之前，公司還有多少營運資金可用？我認為這個問題需要由幾位不同的團隊成員來回答。首先，從第一個問題開始，關於新員工招募、擴大辦公場所，在目前的收入水準下，成長是如何融資的？

I think I can actually take most of this one, Kylie. This is top of mind as CFO.

我覺得我應該可以應付大部分，凱莉。身為財務官，這是我最關心的問題。

So right, good question. We are expanding -- we're expanding our expenditure rates, consequence of ramping up hiring, R&D expenditures, et cetera. In the absence of significant revenue to date, we're using the proceeds from our equity line to fund this investment and operations and research and development.

沒錯，問得好。我們正在擴張——我們的支出水準正在提高，這是由於招募人數增加、研發支出增加等等所致。由於迄今尚未產生重大收入，我們正在利用股權融資所得資金來資助這項投資、營運以及研發。

As I mentioned on the call, we've taken -- in the quarter we took $4 million down off of the facility, and as needed, we will tap into that facility in the future, so we still have most of that $40 million available. And in terms of runway, I can say again that based on our forecast, based on our burn rate, that current equity line will take us into 2027 before we would be looking to do a substantial capital raise.

正如我在電話會議上提到的，本季度我們從該貸款帳戶中提取了 400 萬美元，未來如有需要，我們將動用該貸款帳戶，因此我們仍有 4000 萬美元中的大部分可用資金。至於資金儲備，我可以再次表示，根據我們的預測和資金消耗速度，目前的股權融資將支撐我們到 2027 年，之後我們才會考慮進行大規模的融資。

And also, about the share repurchase activities.

還有，關於股票回購活動。

Yeah, and I also skipped over the compensation strategy, so a lot to unpack here, Sergio, but I'm going to hit the compensation piece first. So we are aggressively pursuing talent with a combination of cash salaries and equity. We want every employee to be an owner in this company, and that's what we've created here. So yes, we have used equity in those agreements.

是的，而且我還略過了薪酬策略，所以這裡有很多東西需要解釋，塞爾吉奧，但我會先談談薪酬部分。因此，我們正在積極尋求人才，採用現金薪酬和股權相結合的方式。我們希望每位員工都是公司的主人翁，而我們也正是這樣做的。是的，我們在這些協議中運用了股權。

And then what was the other one, Kylie?

那麼另一個叫什麼來著，凱莉？

About the share repurchase.

關於股份回購。

Oh, share repurchase, yeah, so we used operational funds and will continue to do that when strategically viable.

哦，股票回購，是的，我們使用了營運資金，並且在策略上可行的情況下會繼續這樣做。

Okay. And then do you want to -- operational runway?

好的。那麼，你們想要──一條可運行的跑道嗎？

Okay, next question from Rick. You announced a $4 million capital line. Todd, you just touched on this briefly, but I'll go ahead and ask the question. Claimed expansion and new right points, yet SEC quarterly filings show a minimal cash balance of under $300,000 until the end of Q3. Can you detail how these funds were used operationally and whether any were allocated to undisclosed party transactions or non-core expenses with supporting documentation?

好的，里克下一個問題。您宣布了一項400萬美元的融資計劃。托德，你剛才只是簡單地提了一下，但我還是要問這個問題。聲稱業務擴張並新增了獲利點，但美國證券交易委員會的季度文件顯示，截至第三季末，現金餘額最低不足 30 萬美元。能否詳細說明這些資金在營運中是如何使用的，以及是否有任何資金被分配給未揭露的第三方交易或非核心支出，並提供支持性文件？

So I think, Rick, I think there's -- I think it might be some misinterpretations of some of these numbers. So when we went public, we secured a $40 million. We secured access to a $40 million capital facility over the next three years. In Q3, we took $4 million off that line and in fact, at the end of Q3, as our financial statements show, we ended with cash and short-term investments. So that's the other thing to consider here is we do have a treasury strategy that puts idle cash in places where we can earn a reasonable return.

所以我覺得，瑞克，我覺得──我覺得可能是對這些數字的某些誤解。所以當我們上市時，我們獲得了 4000 萬美元的融資。我們已獲得未來三年內 4000 萬美元的融資額度。第三季度，我們從該項支出中削減了 400 萬美元，事實上，正如我們的財務報表所示，第三季末，我們只剩下現金和短期投資。所以，這裡需要考慮的另一點是，我們確實有一項資金管理策略，將閒置資金投入到我們可以獲得合理回報的地方。

So we actually ended the quarter with about $2.7 million between cash and short-term investments. So that's just trying to clarify some of the facts here, so.

因此，本季末我們實際擁有的現金和短期投資約為 270 萬美元。所以，我只是想澄清一些事實。

All right, Todd, thanks.

好的，托德，謝謝。

Next one from Benjamin. What happens between year four and five that allows you to go from 10,000 units annually to 100,000 units? Also, even though I'm crying myself to sleep over the stock price, I stand behind you all and what you are doing. Thanks for all of the communication and doing what you said you would do. Can't wait to see how everything unfolds. Looking forward to meeting you all someday.

接下來是本傑明的。第四年到第五年之間發生了什麼，使得年產量從 10,000 台增加到 100,000 台？雖然我因為股價而夜不能寐，但我依然支持你們所有人以及你們正在做的事情。感謝你的溝通，也感謝你信守承諾。迫不及待想看看事情會如何發展。期待有一天能和大家見面。

Hey, Ben, I'm going to jump in and I'm going to hand this to Mark, but I just want to acknowledge that you're crying yourself to sleep. I don't even sleep, but, we're all owners here. I know you've been loyal and with us since day one, and we appreciate that, and we'll do everything we can to build the next big thing.

嘿，本，我要插一句，然後把這個交給馬克，但我只想說，你哭著睡著了。我甚至都不睡覺，但是，我們都是這裡的業主。我知道你從一開始就一直忠誠地支持我們，我們對此非常感激，我們將竭盡全力打造下一個偉大的產品。

And unfortunately, we can't control the day-to-day market price but we know if we execute and do what we're on the path to do, we're going to get to where we all want us to be so thanks for being with us.

很遺憾，我們無法控制每日的市場價格，但我們知道，如果我們執行好我們正在做的事情，我們終將到達我們想要到達的地方，所以感謝你們與我們同行。

Mark, I'm going to let you jump in and talk about the 10,000 units.

馬克，接下來就讓你來談談那 1 萬台設備吧。

Yeah, thanks Dan. So as partially described before, when we come out of Arrive Point network deployments that exercise that with partners, midway through the plan, that on our roadmap is being executed with a unit called AP5, the next-gen unit called AP5 Arrive Point 5.

謝謝你，丹。如前所述，當我們完成 Arrive Point 網路部署並與合作夥伴進行演練後，在計劃的中期，我們的路線圖正在使用名為 AP5 的新一代設備（即 AP5 Arrive Point 5）來執行。

The improvements from going to market and learning with those large-scale customers, partners will be incorporated in the AP6, which is what will be scaled in the second half of the plan. And it's being designed even further for to support that scaling, so the first part of that scaling will happen in year 4.

透過與大型客戶和合作夥伴的合作以及在市場推廣中獲得的經驗和改進將納入 AP6，AP6 將在計畫的後半段進行規模化推廣。而且它的設計還在進一步支援這種擴展，因此擴展的第一部分將在第 4 年實現。

You can take 10,000 and roughly say that's a target of 1,000 a month. Those will, on average, be what we hope to achieve in that time frame and then we'll continue down that path, 10xing that on a per month basis to achieve that 100,000 number. We also know that as we get into the manufacturing design, the supply chain design associated with AP6 that the team will identify a natural kind of break point between low-volume production and high-volume production that as I said, ultimately a decade from now has to be producing millions of units to reach our level of aspiration.

你可以用 10,000 來粗略估算一下，那就是每月 1,000 的目標。這些將是我們希望在該時間段內平均實現的目標，然後我們將繼續沿著這條路走下去，每月將其提高 10 倍，以達到 10 萬這個數字。我們也知道，隨著我們進入製造設計階段，以及與 AP6 相關的供應鏈設計階段，團隊將確定小批量生產和大批量生產之間的一個自然斷點，正如我所說，最終，十年後必須生產數百萬台才能達到我們的期望水平。

So what those exact break points are that we transition from low volume to high volume production facilities and in year four and five, we don't know exactly at this point. We just know that we'll be supporting both activities, one ramping at low volume in the short-term that'll be responsible for 10,000 or more. May be able to reach 100,000 on that capability, but in parallel with that, we'll be building and ramping either ourselves or with partners. TBD, the strategy for reaching larger volumes of arrived points.

那麼，從低產量生產設施過渡到高產量生產設施的確切轉折點是什麼？在第四年和第五年，我們目前還不清楚。我們只知道我們將支持這兩項活動，其中一項活動短期內將以較低的產量逐步增加，最終將達到 10,000 或更多。或許能夠達到 10 萬的產能，但同時，我們將自行或與合作夥伴一起進行建設和擴建。待定，如何獲得更大數量的到達點。

Thanks, Mark.

謝謝你，馬克。

Next one is another submission from Maxim Group analyst, Jack Vander Aarde. Can you touch on ARAI's perspective on M&A and how that fits into the five-year plan? Have you been approached by any industry players interested in M&A?

接下來是 Maxim Group 分析師 Jack Vander Aarde 的另一份投稿。您能否談談 ARAI 對併購的看法，以及這如何融入五年計畫？是否有業內人士就併購事宜與您接洽？

Thanks for the question, Jack. This is Dan. I'll take this one. I want to say that we are aggressive and opportunistic about M&A of all kinds. Everyone asked me for the last several years, are you -- do you want to sell, do you want to do this, do you want to do that? My quote, my answer's always been, I'm not hyper focused on any specific strategy because I believe if you're so focused on one thing, you might very well miss the biggest opportunity that's looming because you're so focused on the wrong thing.

謝謝你的提問，傑克。這是丹。我選這個。我想說的是，我們在各種併購活動中都採取積極進取、善於把握機會的態度。過去幾年裡，每個人都問我，你想賣掉公司嗎？你想做這個嗎？你想做那個嗎？我的回答一直是，我不會過度專注於任何特定的策略，因為我相信，如果你太專注於一件事，你很可能會錯過即將到來的最大機會，因為你把注意力放在了錯誤的事情上。

We explore every opportunity as it comes across our horizon and I'm always look at everything through the prism of the last guy that invested $1 in this company and how would he view that outcome and I know that if he would be happy, I would be ecstatic. So that's how we look at things.

我們會探索每一個出現在我們視野中的機會，我總是從最後一位投資這家公司 1 美元的人的角度來看待一切，他會如何看待結果，我知道如果他滿意，我也會欣喜若狂。這就是我們看待事物的方式。

We have plenty of chances to divest over the years, sell out, cash out, didn't take any of those. I call us the we the people story. 5,000 people, pre-public, beat Amazon by four days on our first patent, and we're executing on what I believe is the biggest market opportunity in the world today.

多年來，我們有很多機會剝離資產、出售股份、套現，但我們一個也沒做。我稱我們為「我們人民的故事」。在公司上市前，5,000 名員工比亞馬遜早四天就獲得了第一項專利，我們正在掌握我認為當今世界最大的市場機會。

I have a kind of a secret aspiration. I say. In the next five years we may be acquired by the largest company in the world or we may very well be one of the biggest companies in the world, and that's something that we're guiding toward every single day, if any M&A makes sense, strategic, accretive, something that's going to add value and accelerate what we're doing.

我內心深處有一個不為人知的願望。我說。未來五年，我們可能會被世界上最大的公司收購，或者我們很可能成為世界上最大的公司之一。我們每天都朝著這個方向努力，只要併購有意義、有戰略意義、能帶來增值、能增加價值並加速我們正在做的事情，我們就會去做。

We're going to look at it very hard and we're going to get it done if it's something that should be done, and I think that's part of the great opportunity that you get here at Arrive AI is a young aggressive company that's poised to really change the world. So thanks for that question, Jack.

我們會認真研究，如果這件事應該要做，我們一定會完成。我認為，在 Arrive AI 這家年輕又充滿活力的公司，你將有機會真正改變世界。謝謝你的提問，傑克。

And as of right now, this next question is the final question unless any last second submissions come in, but this is from Bill. Oh, we just got another one, so we'll get to it, two more questions at least.

目前來看，除非有最後一刻的投稿，否則下一個問題就是最後一個問題了，這個問題來自比爾。哦，我們又收到一個問題，所以我們馬上就來回答，至少還有兩個問題。

So this next one is from Bill. Is there an advantage of keeping the shares of stock with Odyssey Trust, or do you recommend moving the shares to a personal brokerage account?

接下來這條來自比爾。將股票存放在 Odyssey Trust 有什麼優勢嗎？還是建議將股票轉移到個人經紀帳戶？

Thanks, Bill. Thanks a lot for your question. Thanks for being with us. There's no advantage or disadvantage being with Odyssey. Odyssey is a safe trust that's holding shares that have yet to be moved to a brokerage account. One thing I always say is if you do move to a brokerage account, we don't want our shares shorted out there so you can put them in a non-margin account where you can have them marked as not available for borrow.

謝謝你，比爾。非常感謝您的提問。謝謝您陪伴我們。加入奧德賽沒有任何優勢或劣勢。Odyssey 是一家安全的信託公司，持有尚未轉移到經紀帳戶的股票。我總是說，如果你要轉到經紀帳戶，我們不希望你的股票在那裡被賣空，所以你可以把它們放在非保證金帳戶中，在那裡你可以把它們標記為不可藉入。

And that would help all of us so people aren't shorting against our interests. But if you don't have any plans to transact your shares, they're perfectly great at Odyssey. I've got shares there and I think it's a great place.

這樣可以保護我們所有人，防止有人做空損害我們的利益。但如果您沒有任何交易股票的計劃，那麼在 Odyssey 交易就非常合適。我持有那裡的股份，我認為那是個很棒的地方。

And this next one is from Rick. One of the perks of having these live Q&As is we can clear up some maybe misinformation or get all on the same page. So keep that in mind as I read this question and we will clarify all of these numbers and stats for you.

接下來這則訊息來自里克。舉辦這些線上問答活動的好處之一是，我們可以澄清一些可能的錯誤訊息，或者讓大家達成共識。所以請記住這一點，在我閱讀這個問題時，我們會為您解釋所有這些數字和統計數據。

But again from Rick, according to your SEC filing, your current liquid cash assets are $295,000 in the bank. In Q3, you spent $1.6 million on salaries and wages. Your revenue in Q3 was $7,000 for one subscription from Hancock Health. In order to stop drawing from your $40 million equity line to just cover wages, you would need 228 new similarly sized customers per quarter.

但瑞克再次指出，根據你提交給美國證券交易委員會的文件，你目前的流動現金資產為 295,000 美元，存放在銀行。第三季度，你們在薪水和薪水上花了 160 萬美元。第三季度，您從 Hancock Health 獲得的一份訂閱收入為 7,000 美元。為了不再動用 4,000 萬美元的股權融資額度來支付薪資，你需要每季新增 228 個規模相近的客戶。

He's doing the math here. $1.6 million divided by a $7,000 subscription. What percentage of your workforce is focused on sales to get to 230 new customers per quarter?

他正在算帳。 160萬美元除以7000美元的訂閱費。為了每季新增 230 位客戶，貴公司有多少比例的員工專注於銷售？

I'm going to jump in on this, Rick. Appreciate the question. Thanks for the math. We now all know it. I appreciate that. What I would say is, we're executing something bigger than a quarterly cadence. We're building something that's going to change and revolutionize last mile delivery, which is one of the biggest revenue sources of our whole economy.

里克，我也要加入討論。感謝您的提問。謝謝你的計算。我們現在都知道了。我很感激。我想說的是，我們正在執行的是一項比季度節奏更大的計劃。我們正在打造的產品將改變並徹底革新最後一公里配送，而最後一公里配送是我們整個經濟中最大的收入來源之一。

To do that, it takes a lot of money, it takes a lot of brainpower. We are recruiting and retaining some of the top minds in the world right here in Fishers, Indiana. I just looked back at the track record of what we've done here for the first 11 years. I funded for the first 6.5 years, had the idea in 2014.

要做到這一點，需要大量的資金，也需要大量的腦力。我們正在印第安納州費雪市招募和留住世界上一些頂尖人才。我回顧了我們過去 11 年的工作記錄。我資助了前 6.5 年，這個想法是在 2014 年產生的。

I funded the company out of my own pocket for 6.5 years. I always believed that your equity in your company is the way that you finance and capitalize your company, so we didn't take the short money. I was very frugal, spent every dollar like it was our last. We took our first money about 4.5 years ago and acquired 5,000 shareholders prior to going public, raised $15 million in the last four years prior to going public, and really built something that a lot of companies try to do and fail.

我自掏腰包為公司注資 6.5 年。我一直認為，你在公司中的股權是你為公司融資和累積資本的方式，所以我們沒有選擇短期融資。我非常節儉，每一分錢都像花掉最後一分錢一樣精打細算。大約 4.5 年前，我們獲得了第一筆資金，並在上市前獲得了 5000 名股東；在上市前的四年裡，我們籌集了 1500 萬美元，真正打造了許多公司嘗試做但失敗的東西。

[3 times of 1%] of crowdfunded companies ever go public. The promise of investing in any company is always liquidity. And I promised that to every person that put a dime into this company, and I am proud of the fact that we got there. When we went public on May 15 of this year on the Nasdaq, there was a big drumbeat for us to lock up every shareholder that came into this company or our whole C team, every employee, every investor, and I would not allow it.

眾籌公司中只有 1% 的 [3 倍 1%] 最終能夠上市。投資任何公司的最大優勢始終在於其流動性。我向每一位為公司投入一分錢的人都承諾過，我為我們所取得的成就感到自豪。今年 5 月 15 日，當我們在納斯達克上市時，有人強烈要求我們鎖定所有加入公司的股東、我們的整個 C 團隊、所有員工、所有投資者，但我不會允許這種情況發生。

I believe the promise of investing in the company is liquidity, and I promised I would get everyone to that, and we did. And in the event, we had a huge up surprise and the stock trade rate, I didn't want any person that took the earliest risk on us to be shut out from that. We did trade up to $40 on our first day, and that was great. Unfortunately, we didn't sustain that and market conditions and where we are today is where we are.

我認為投資這家公司的意義在於獲得流動性，我承諾過要讓每個人都獲得流動性，而我們也做到了。結果，我們的股價意外大幅上漲，交易價格也隨之飆升，我不想讓任何最早投資我們的人錯失良機。第一天我們就交易到了 40 美元，這很棒。可惜的是，我們沒能維持住這種勢頭，市場狀況決定了我們今天的處境。

But I know the best part of this company is ahead of us. We're spending money very frequently. All the money that comes in is very linear to development. We've conducted this company squeaky clean from day one prior to even being public and I'm so proud of that. I stand by that, and if you look at the granular numbers, if we did that, we probably would be afraid to spend another dime. The reality is we've got the capitalization in place to do what needs to be done.

但我知道這家公司最好的時光還在後頭。我們花錢很頻繁。所有收入都與發展直接相關。從公司成立之初，甚至在上市之前，我們就一直秉持著絕對廉潔的經營理念，我為此感到非常自豪。我堅持我的觀點，如果你仔細看看具體的數字，如果我們這樣做，我們可能就不敢再花一分錢了。事實上，我們已經擁有了完成所需工作的資金。

We're building the team. We're committed to doing things the right way. We've got a great world class facility that's creating the ability to streamline efficiently everything we need to do under one roof in one location. And I'd invite anyone to come into our building meet our team.

我們正在組建團隊。我們致力於以正確的方式做事。我們擁有世界一流的設施，這使得我們能夠在同一個屋簷下、同一個地點高效地完成所有需要做的事情。我誠摯邀請大家來我們大樓參觀，與我們的團隊見面。

And if anyone wants to give me a call, my number is 317-694-7520. It's the same number I've had for 40 years, so call me up. I'd love to talk to you more. I love Arrive AI. I believe in this more than anything. I sold the business to put every dime I have into this thing, and we're going someplace.

如果有人想給我打電話，我的電話號碼是 317-694-7520。這是我用了40年的同一個號碼，所以請打電話給我。我很想和你多聊聊。我喜歡Arrive AI。我對此深信不疑。我賣掉了原來的公司，把所有的錢都投入這個專案裡，我們正在取得成功。

And I hope that, Rick, you're going to be with us. So thanks for all your questions, everyone. Kylie?

瑞克，我希望你能和我們在一起。謝謝大家的提問。凱莉？

Yeah, thanks, Dan. That does conclude our question-and-answer. I'll turn it back over to Liz.

謝謝你，丹。我們的問答環節到此結束。我會把它交還給莉茲。

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

謝謝。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了。