Augmedix Inc (AUGX) 2023 Q4 法說會逐字稿

Yes, greetings, and welcome to all Augmedix's fourth quarter 2023 earnings conference call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce Matt Chesler, Investor Relations. Thank you. You may begin.

是的，您好，歡迎參加所有 Augmedix 2023 年第四季財報電話會議。此時，所有參與者都處於只聽模式。正式演講後將舉行問答環節。（操作員指示）謹此提醒，本次會議正在錄製中。現在我很高興向大家介紹投資者關係部的 Matt Chesler。謝謝。你可以開始了。

Thank you, operator. Joining me today are Manny Krakaris, Chief Executive Officer of Augmedix; and Paul Ginocchio, Chief Financial Officer. This afternoon, we released financial results for the quarter ended December 31, 2023. We've posted a copy of the press release and an investor presentation on our website at Augmenix.com. We'll begin our call with prepared remarks to be followed by a Q&A session. This call is also being simulcast and will be archived on our website.

謝謝你，接線生。今天加入我的是 Augmedix 執行長 Manny Krakaris；和財務長保羅‧吉諾奇奧 (Paul Ginocchio)。今天下午，我們發布了截至 2023 年 12 月 31 日的季度財務業績。我們已在我們的網站 Augmenix.com 上發布了新聞稿的副本和投資者簡報。我們將以準備好的發言開始我們的電話會議，然後進行問答環節。該電話會議也將同時直播，並將存檔在我們的網站上。

Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements that relate to expectations or predictions of future events or results for performance are forward-looking statements. They are based upon our current estimates and various assumptions and involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied. Accordingly, you should not place undue reliance on these statements.

在我們開始之前，我想提醒您，管理層將在本次電話會議期間發表聲明，其中包括聯邦證券法含義內的前瞻性聲明，這些聲明是根據美國《私人證券訴訟改革法案》的安全港條款制定的。1995 年。任何與對未來事件或績效結果的預期或預測相關的陳述均為前瞻性陳述。它們基於我們目前的估計和各種假設，涉及重大風險和不確定性，可能導致實際結果或事件與預期或暗示的結果或事件有重大差異。因此，您不應過度依賴這些陳述。

For a list and description of the risks and uncertainties associated with our business, please refer to risk factors and management's discussion and analysis in our most recent Form 10 K and Form 10 Q filed with the Securities and Exchange Commission and similar disclosures in subsequent reports filed with the SEC.

有關與我們業務相關的風險和不確定性的清單和描述，請參閱我們最近向美國證券交易委員會提交的10 K 表格和10 Q 表格中的風險因素和管理層的討論和分析，以及後續提交的報告中的類似揭露與美國證券交易委員會。

Also during our call today, we'll discuss non-GAAP financial measures, which adjust our GAAP results to eliminate the impact of certain items. You'll find additional information regarding these financial measures and a reconciliation to GAAP measures in today's press release. This call contains time-sensitive information and is accurate only as of the live broadcast today, March 18th, 2024. We disclaim any intention or obligation, except as required by law to update or revise financial projections or forward-looking statements, whether because of new information, future events or otherwise. And with that, I'll turn the call over to Manny.

在今天的電話會議中，我們還將討論非公認會計原則財務指標，這些指標調整我們的公認會計原則結果以消除某些項目的影響。您將在今天的新聞稿中找到有關這些財務指標的更多資訊以及與 GAAP 指標的調整表。此通話包含時間敏感訊息，僅截至今天（2024 年 3 月 18 日）直播時準確。我們不承擔任何意圖或義務，除非法律要求更新或修改財務預測或前瞻性陳述，無論是因為新資訊、未來事件或其他原因。然後，我會將電話轉給曼尼。

Thanks, Matt. This was a solid ending to a strong and strategically important year for our NetIQ's. We met or exceeded all of our financial targets while assembling the broadest portfolio of ambient class solutions in the industry, including a fully automated AI documentation solution, but we serve more care settings than any other player in our business. We are leveraging the structured data we produce and our bidirectional communication channel to the point of care to become even more valuable to our health care enterprise customers. And of course, we have onboarded an enviable set of customers and partners that are supporting us along the way and to provide high visibility to incremental growth.

謝謝，馬特。對於 NetIQ 來說，這是一個強勁且具有戰略重要性的一年的堅實結束。我們達到或超過了所有財務目標，同時組裝了業內最廣泛的環境級解決方案組合，包括全自動人工智慧文件解決方案，但我們提供的護理環境比我們行業中的任何其他參與者都多。我們正在利用我們產生的結構化資料和我們到護理點的雙向通訊管道，為我們的醫療保健企業客戶變得更有價值。當然，我們擁有一群令人羨慕的客戶和合作夥伴，他們一路支持我們，並為增量成長提供高度可見性。

We are well positioned to win the key to success, we believe is to be able to meet customers where they are today, in other words, solve their current problems today and where they want to be in two to three years is for this reason that we are offering varying levels of service embedded within our product suite. Customers can choose products ranging from a fully autonomous software product, which we call Augmenix go with no human assistance on our part two, a full service solution, which we call Augmenix live. We assign a highly trained medical documentation specialist to observe patient encounters remotely and deliver a very high quality note and ancillary services to the clinician. Importantly, we also deliver clinical decision support to the point of care and structured data that positively impacts customers' downstream activities.

我們處於有利位置，贏得成功的關鍵是，我們相信能夠滿足客戶今天的情況，換句話說，解決他們今天當前的問題以及他們想要在兩到三年內達到的目標，因為這個原因我們在我們的產品套件中提供不同等級的服務。客戶可以選擇一系列產品，包括完全自主的軟體產品（我們稱之為 Augmenix go），第二部分是無需人工協助的全方位服務解決方案（我們稱之為 Augmenix live）。我們指派訓練有素的醫療文件專家遠端觀察患者的情況，並向臨床醫生提供非常高品質的記錄和輔助服務。重要的是，我們也為護理點和結構化資料提供臨床決策支持，對客戶的下游活動產生正面影響。

Finally, we are one of only two documentation vendors to be certified by the high trust alliance for information security. This prestigious certification validates our commitment to safeguard sensitive patient information, which we know is currently at the top of many customers' minds. This broad product approach drove our growth in 2023, and it is resonating with the market today. As evidence of this last week, we were selected to participate and a large pilot with a Fortune 100 healthcare company that is looking to adopt AI and digital health tools across oncology networks. In December, we made the ambulatory version of Augmenix go generally available to customers, nine.

最後，我們是僅有的兩家獲得資訊安全高信任聯盟認證的文檔供應商之一。這項享有盛譽的認證驗證了我們對保護敏感患者資訊的承諾，我們知道這是目前許多客戶最關心的問題。這種廣泛的產品方法推動了我們在 2023 年的成長，並與當今的市場產生了共鳴。作為上週的證據，我們被選中參與財富 100 強醫療保健公司的大型試點，該公司希望在腫瘤學網路中採用人工智慧和數位健康工具。12 月，我們向客戶普遍提供了 Augmenix go 的流動版本，九。

Very pleased with how it is performing. Augmenix go is our new ambient AI product that addresses a very large price segment of the market, sub $600 per month and represents the vehicle by which we expect to realize significant penetration within health systems recent data from survey responses I've met Exco customers revealed that 94% of clinicians surveyed reported that I've met. Exco, helps them better focus on their patients and clinicians save up to one hour or more per day using that product. This aligns with our philosophy of enabling clinicians to see the patients and trust the technology to do its work in the background. So very early in its deployment. Initial orders have met our expectations, and we expect adoption will continue to build throughout the year and beyond.

對它的表現非常滿意。Augmenix go 是我們新的環境人工智慧產品，它滿足了非常大的市場價格段，每月低於600 美元，並且代表了我們期望在醫療系統中實現顯著滲透的工具，來自我見過的Exco客戶的調查回覆的最新數據顯示94% 接受調查的臨床醫生表示我見過。Exco 可以幫助他們更好地關注患者，臨床醫生使用該產品每天可以節省一小時或更多時間。這符合我們的理念，讓臨床醫生能夠看到患者並信任該技術在後台完成其工作。所以在部署的早期階段。最初的訂單已經達到了我們的預期，我們預計全年及以後的採用率將繼續增加。

We've also been developing a version of Augmenix scope, specifically designed for the challenging conditions of the emergency department. There are very few competing products commercially deployed in this important sector of the market. We are pleased with initial results thus far and expect to make Augmenix go for the ED generally available by the end of this month. At the same time, our strategic partner, HCA Healthcare has been testing the virtually department version of Augmenix go in its own hospitals. Hca preparing to evaluate this version of Augmenix go in advance of a broad rollout across its network of hospitals. We are confident we will realize the full potential of this significant opportunity, and we'll update you as soon as we reach the next meaningful milestone at the Hims conference last week, I was on a panel with HCA and Google during which HCA delivered encouraging commentary on both the Go E, our pilot and our portfolio of products.

我們也開發了 Augmenix 瞄準鏡的一個版本，專門針對急診室的挑戰性條件而設計。在這重要市場領域進行商業部署的競爭產品非常少。我們對迄今為止的初步結果感到滿意，並期望讓 Augmenix 在本月底之前全面推出 ED。同時，我們的策略夥伴 HCA Healthcare 一直在自己的醫院測試 Augmenix go 的虛擬部門版本。Hca 準備評估該版本的 Augmenix，以便在其醫院網路中廣泛推廣。我們相信，我們將充分發揮這一重大機會的潛力，一旦我們在上週的Hims 會議上達到下一個有意義的里程碑，我們就會立即向您通報最新情況。我參加了與HCA 和Google 的小組討論，期間HCA 發表了令人鼓舞的講話對 Go E、我們的試點項目和我們的產品組合的評論。

Hca also stated its intention to deploy our solutions into are there departments within their system. Met Exco is being offered to service levels. The base level is a self-service version wearing of masks provides no human assistance in creating the Medical Note, notice automatically generated and available for review and sign off with the clinician within a minute or two following the patient encounter based version Biomedics scope is the least expensive for the customer and most scalable product among our portfolio. Premium version is called go assist at the discretion of the clinician. The draft note is simultaneously delivered to and I've NetIQ's medical documentation specialists.

Hca 也表示打算將我們的解決方案部署到其係統內的各個部門。Met Exco 正在提供服務等級。基本等級是佩戴口罩的自助服務版本，在創建醫療記錄時無需人工協助，通知會自動生成，並可供臨床醫生在基於患者遭遇的版本後一兩分鐘內進行審查和簽字。生物醫學範圍是對客戶而言最便宜且是我們產品組合中最具擴展性的產品。高級版本被稱為“Go Assist”，由臨床醫生自行決定。該草稿同時發送給 NetIQ 的醫療文件專家。

We've used for quality assurance and make any necessary edits before clinician sign-off. Gotoassist comes at a slightly higher price than the base version of growth. Our medics go sits alongside our live product, highest level of service where a remote medical documentation specialist is matched with a clinician throughout clinicians shift. And this leads to what is truly unique about our medical approach. Our recognition that doctors' needs are diverse and ever-changing, and we have developed the broadest portfolio of solutions to address those needs. Moreover, we offer customers fungibility across our products whereby clinicians can switch between different products and service levels to address their varying needs.

我們用於品質保證，並在臨床醫生簽署之前進行任何必要的編輯。Gotoassist 的價格比成長的基本版本略高。我們的醫療人員與我們的即時產品並存，提供最高水準的服務，在整個臨床醫生輪班期間，遠距醫療文件專家與臨床醫生相匹配。這導致了我們醫療方法的真正獨特之處。我們認識到醫生的需求是多樣化且不斷變化的，因此我們開發了最廣泛的解決方案組合來滿足這些需求。此外，我們為客戶提供產品的可替代性，臨床醫生可以在不同的產品和服務等級之間切換，以滿足他們不同的需求。

This flexibility provides doctors with a higher touch level of service when they're short handed or dealing with more complex cases, while also allowing them to save on documentation costs for more routine patient encounters as Augmenix offer solutions from self-service ambient AI, two remote human support in one suite. Our systems can cover all of their documentation needs under one agreement and seamless integration process. The AI solutions in the market do not have this breadth offerings. We see a lot of AI hype and claims made by several a I own a new commerce trying to break into the market generative. Ai tools are clearly capable of doing much of the heavy lifting when it comes to medical, no documentation. However, it takes a great deal more than off-the-shelf generative AI tools to produce accurate and comprehensive medical notes consistently across a wide variety of specialties and patient encounters when harnessed properly generative.

這種靈活性為醫生在人手不足或處理更複雜的病例時提供了更高水準的服務，同時也使他們能夠節省更多日常患者接觸的文件成本，因為Augmenix 提供了自助環境人工智慧的解決方案，兩個在一間套房內提供遠端人工支援。我們的系統可以透過一份協議和無縫整合流程滿足他們的所有文件需求。市場上的人工智慧解決方案不具備如此廣泛的產品。我們看到很多人工智慧炒作和一些人提出的主張，我擁有一個試圖打入生成市場的新商業。人工智慧工具顯然能夠在醫療方面完成大部分繁重的工作，無需文件。然而，當正確利用生成式工具時，要在各種專業和患者遇到的情況中一致地產生準確和全面的醫療記錄，需要比現成的生成式人工智慧工具更多的東西。

Ai has the potential to substantially ease and lower the cost of medical documentation as the pioneer in ambient virtual medical documentation. Over the past 11 years, we have built a vast repository of domain knowledge pertaining to clinician workflows and medical datasets. This knowledge has enabled us to address multiple care settings should more than 50 specialties, provide clinical decision support to the point of care at the right moment and deliver structured data that positively impacts customers' downstream activities such as billing. These key points of differentiation in conjunction with our two-way communication channel to the point of care provided a significant moat around our business.

作為環境虛擬醫療文件的先驅，人工智慧有潛力大幅簡化並降低醫療文件的成本。在過去的 11 年裡，我們建立了一個與臨床醫生工作流程和醫療資料集相關的龐大領域知識庫。這些知識使我們能夠解決 50 多個專業的多個護理環境問題，在適當的時刻為護理點提供臨床決策支持，並提供對客戶的下游活動（例如計費）產生積極影響的結構化數據。這些關鍵的差異化點與我們到護理點的雙向溝通管道相結合，為我們的業務提供了重要的護城河。

Now I'd like to discuss some of the financial highlights of our strong fourth quarter, we delivered a 45% increase in revenue to $12.7 million ahead of our most recent guidance driven by a 44% increase in conditions and service and net revenue retention of 152%. Our largest customers are increasingly adopting our high ROI products additionally, we demonstrated the scalability of our business model by increasing gross profit by 54% to $6.2 million, a 300 basis point improvement in gross margin year over year to 49.3% and driving meaningful improvement in our adjusted EBITDA and GAAP operating losses.

現在我想討論我們強勁的第四季度的一些財務亮點，我們的收入比我們最新的指導增長了 45%，達到 1,270 萬美元，這是由於條件和服務增加了 44%，淨收入保留為152 %。我們最大的客戶越來越多地採用我們的高投資回報率產品，此外，我們透過將毛利增加54% 至620 萬美元、毛利率同比提高300 個基點至49.3% 以及推動顯著改善，展示了我們業務模式的可擴充性。我們調整後的 EBITDA 和 GAAP 營運虧損。

We also bolstered our capital resources through our November equity offering, which generated over $26 million in net proceeds to further solidify our leadership position in our industry by expanding our commercial and engineering teams to enable us to accelerate our growth relative to our previous plan. We have already begun to grow our team with some very strong hires. Now as we complete the expansion over the coming months, we expect to realize a payback on this spending later this year and more meaningfully in 2025, which is what we communicated during the capital raise.

我們也透過11 月的股票發行增強了我們的資本資源，產生了超過2600 萬美元的淨收益，透過擴大我們的商業和工程團隊，使我們能夠相對於先前的計劃加速成長，進一步鞏固我們在行業中的領導地位。我們已經開始招募一些非常強大的員工來發展我們的團隊。現在，隨著我們在未來幾個月內完成擴張，我們預計將在今年稍後實現這筆支出的回報，並在 2025 年實現更有意義的回報，這也是我們在融資期間傳達的訊息。

Our most recent capital raise has enabled us to take a more aggressive approach towards a large underpenetrated market where customers are adopting generative AI technology at an increasing rate. Our established market presence compared to a I. only newcomers will continue to serve us well, we've expanded our sales organization to bolster our efforts to land new enterprises and to further expand within our existing enterprise accounts. We believe now is the optimal time to lean into our advantages and accelerate our growth initiatives to capture market share and exploit our leadership position.

我們最近的融資使我們能夠對一個滲透率較低的大型市場採取更積極的方法，該市場的客戶正在以越來越快的速度採用生成式人工智慧技術。與新來者相比，我們已建立的市場份額將繼續為我們提供良好的服務，我們擴大了銷售組織，以支持我們開拓新企業並進一步擴大現有企業帳戶的努力。我們相信，現在是發揮我們優勢、加速成長計畫以佔領市場份額並利用我們的領導地位的最佳時機。

This market is still in its infancy. I am confident that our portfolio approach addresses the major price points within this market will resonate with health care systems and clinicians. With that, I'll now turn the call over to Paul Ginocchio, our Chief Financial Officer, then will return with closing comments.

這個市場仍處於起步階段。我相信，我們的投資組合方法解決了這個市場的主要價格點，將引起醫療保健系統和臨床醫生的共鳴。現在，我將把電話轉給我們的財務長 Paul Ginocchio，然後他將發表結束語。

Paul, you may Let's review the quarter's financial highlights. Revenue for the three months ended December 31st, 2023 was $12.7 million, slightly better than our preliminary expectations announced in January. Growth was driven by growing adoption of live and notes by existing customers. Gross margin for the fourth quarter of 2023 was 49.3% as compared to 46.3% in the fourth quarter of 2022. In comparison to 49.5% in the third quarter of 2023. This 300 basis point improvement year on year in gross margin percentage was mainly driven by our growing scale and efficiency and also by our strategic initiative to shift US clinicians service service in the US to outside the US, gross profit growth was 54% year on year.

保羅，您可以讓我們回顧一下本季的財務亮點。截至 2023 年 12 月 31 日的三個月收入為 1,270 萬美元，略好於我們 1 月宣布的初步預期。成長的推動因素是現有客戶越來越多地採用即時和筆記。2023年第四季的毛利率為49.3%，而2022年第四季的毛利率為46.3%。相比之下，2023 年第三季為 49.5%。毛利率年增300個基點主要是由於我們的規模和效率不斷增長，以及我們將美國臨床醫生服務轉移到美國境外的戰略舉措，毛利潤同比增長54% 。

Total operating expenses for the fourth quarter of 2023 were $10.6 million, up 12% compared to the fourth quarter of 2022 points of our gross profit growth outpacing OpEx growth resulted in a reduction of our operating losses by over $1.1 million year on year. Adjusted EBITDA was a loss of $3.3 million in the fourth quarter of 2023 compared to a loss of $4.5 million in the fourth quarter of 2022. Along with this improvement in adjusted EBITDA was a year-on-year improvement in our adjusted EBITDA margin from negative 51% in the year ago quarter to negative 26% in this quarter.

2023 年第四季的總營運支出為 1,060 萬美元，比 2022 年第四季成長 12%，我們的毛利成長速度超過了營運支出成長，導致我們的營運虧損同比減少了超過 110 萬美元。2023 年第四季調整後 EBITDA 虧損 330 萬美元，而 2022 年第四季虧損 450 萬美元。隨著調整後 EBITDA 的改善，我們調整後 EBITDA 利潤率也從去年同期的負 51% 年比改善至本季的負 26%。

Note beginning this quarter, we have modified the calculation of adjusted EBITDA to remove the interest income benefit that we are now earning due to the larger cash balance after the equity financing in November 2023 as well as foreign exchange gains and losses, both of which we deem to be nonoperational in nature. All prior amounts have been recast to conform with this current presentation under the prior definition, adjusted EBITDA in the fourth quarter of 2023 would have been slightly better at a loss of $2.8 million. Cash flow from operating activities was an outflow of $0.9 million in the fourth quarter of 2023 compared to an outflow and outflow of $4.4 million in the fourth quarter of last year.

請注意，從本季度開始，我們修改了調整後 EBITDA 的計算，以消除我們目前因 2023 年 11 月股權融資後現金餘額增加而賺取的利息收入收益以及外匯損益，這兩者都是我們被認為本質上是不可操作的。所有先前的金額均已根據先前的定義進行了重新調整，以符合當前的表述，2023 年第四季度調整後的 EBITDA 會稍好一些，虧損 280 萬美元。2023 年第四季經營活動現金流出 90 萬美元，而去年第四季的流出和流出為 440 萬美元。

Now turning to the full year results, total revenue was $44.9 million, an increase of 45% compared to $30.9 million. Dollar-based net revenue retention was 148% for our health enterprise customers compared to 128% in 2022. Our gross profit increased 54% to $21.5 million. We're a 48.0% gross profit margin, up from $14 million or a 45.1% gross profit margin. Operating expenses were $40.3 million compared to $36.3 million. Adjusted operating expenses, which excludes stock-based compensation in both periods, grew 11% to $37.8 million compared to $34.2 million. Gaap net loss was $19.2 million compared to $24.4 million adjusted EBITDA loss declined to $15.2 million from $19.4 million at December 31st, 2023.

現在來看全年業績，總收入為 4,490 萬美元，比 3,090 萬美元成長了 45%。以美元為基礎我們的健康企業客戶的淨收入保留率為 148%，而 2022 年為 128%。我們的毛利成長了 54%，達到 2,150 萬美元。我們的毛利率為 48.0%，高於 1,400 萬美元或 45.1% 的毛利率。營運費用為 4,030 萬美元，去年同期為 3,630 萬美元。調整後的營運費用（不包括股票薪酬）在這兩個時期增長了 11%，達到 3,780 萬美元，而去年同期為 3,420 萬美元。截至 2023 年 12 月 31 日，GAAP 淨虧損為 1,920 萬美元，調整後 EBITDA 虧損為 2,440 萬美元，從 1,940 萬美元降至 1,520 萬美元。

We had $46.2 million in cash and cash equivalents as compared to $21.3 million as of December 31st, 2022. This reflects the $26.3 million in net proceeds from the equity offering in November 2023 and the $11.8 million of net proceeds from the equity offering in April. Our weighted average share count for EPS for the fourth quarter was $49.0 million shares common shares outstanding, and that reflects a partial quarter of the additional $7.2 million shares we issued in November and includes the $4.375 million prefunded warrants. As of year end, our common shares outstanding plus pre-funded warrants totaled $53.0 million, assuming all of the warrants outstanding are net exercised in all of our employee options.

截至 2022 年 12 月 31 日，我們擁有 4,620 萬美元的現金和現金等價物，而截至 2022 年 12 月 31 日，我們擁有 2,130 萬美元。這反映了 2023 年 11 月股票發行的 2,630 萬美元淨收益和 4 月份股票發行的 1,180 萬美元淨收益。我們第四季每股收益的加權平均股數為 4,900 萬美元的已發行普通股，這反映了我們 11 月額外發行的 720 萬美元股票的一部分，包括 437.5 萬美元的預融資認股權證。截至年底，我們的已發行普通股加上預先融資的認股權證總額為 5,300 萬美元（假設所有已發行認股權證均在我們所有員工選擇權中淨行使）。

And so ours, they're both fully vested in the money. Our net expense net exercise, we would have approximately $57.1 million shares outstanding. Overall, 2023 was a significant year for Augmenix with robust revenue growth, gross margin expansion, disciplined expense management and narrowing losses. Additionally, we meaningfully strengthened our balance sheet during the year, providing the necessary capital for us to execute our updated and accelerated strategic plans and capture a significant share of this growing opportunity.

所以我們的，他們都完全歸屬於金錢。我們的淨支出淨行使後，我們將擁有約 5,710 萬美元的已發行股票。整體而言，2023 年對 Augmenix 來說是重要的一年，營收強勁成長，毛利率擴大，費用管理嚴格，虧損縮小。此外，我們在這一年中有意義地加強了我們的資產負債表，為我們提供了必要的資本來執行我們更新和加速的戰略計劃，並抓住這一不斷增長的機會的重要份額。

Now moving onto guidance due to the solid finish to 2023 and the trends we are seeing in 2024, we are providing revenue guidance of 60 to $62 million for the full year of 2024. Turning to the outlook for the first quarter of 2024, we expect revenue in the first quarter to be approximately $13.4 million. We expect GAAP gross margins to be lower quarter on quarter by about 300 basis points due to temporary costs from both our move to the new building in Bangladesh and a one-time up and optimization initiative in India, we expect gross margins to resume their upward trajectory in May. As we have previously stated, we anticipate go revenue to be modest during the first half of 2024.

由於 2023 年的穩健收官以及我們在 2024 年看到的趨勢，現在轉向指導，我們為 2024 年全年提供 60 至 6200 萬美元的收入指導。談到 2024 年第一季的展望，我們預計第一季的營收約為 1,340 萬美元。我們預計 GAAP 毛利率將環比下降約 300 個基點，原因是我們搬遷到孟加拉國新大樓以及印度的一次性升級和優化計劃造成的臨時成本，我們預計毛利率將恢復上升五月的軌跡。正如我們之前所說，我們預計 2024 年上半年 Go 的收入將不大。

We do expect go to have a positive contribution later in the year and then do contribute more materially in 2025 in terms of modeling operating expenses to reflect the point that the deployment of the equity proceeds as we articulated during the November equity raise, our plan is to invest an incremental $9 million in 2024 versus our previous previous plan, largely in sales and marketing, but also in engineering with a modest amount in G&A combined with an increase in underlying operating expenses associated with the strong current growth of our business, it would be appropriate to expect GAAP operating expenses to be in the mid the upper $50 million range in 2024. At this point, I'd like to turn the call back to Manny for closing comments.

我們確實預計將在今年稍後做出積極貢獻，然後在2025 年在建模營運費用方面做出更多實質貢獻，以反映我們在11 月股權融資期間闡明的股權收益部署，我們的計劃是與我們之前的計劃相比，到2024 年投資增加900 萬美元，主要用於銷售和營銷，但也用於工程設計，並在一般管理費用方面投入少量，再加上與我們當前業務強勁增長相關的基礎營運費用增加，這將預計 2024 年 GAAP 營運費用將在 5,000 萬美元左右。此時，我想將電話轉回曼尼以徵求結束意見。

Thank you, Paul. We remain committed to playing an essential role in unburden clinicians and improving the operating efficiency of health care organizations. We have built a broad portfolio of products and are positioning magnetics as an effective information data delivery platform at the point of care. This unique positioning will help ensure we continue our rapid growth well into the future. I've never been more excited about the opportunities in front of us metrics and want to thank our team and our customers for helping us deliver another quarter and full year of strong financial results. Thank you very much. With that, we'll now open it up to questions. Operator?

謝謝你，保羅。我們仍然致力於在減輕臨床醫生負擔和提高醫療保健組織的運作效率方面發揮重要作用。我們已經建立了廣泛的產品組合，並將磁性定位為護理點有效的資訊資料傳輸平台。這種獨特的定位將有助於確保我們在未來繼續快速成長。我對擺在我們面前的機會指標感到前所未有的興奮，並感謝我們的團隊和客戶幫助我們實現了另一個季度和全年的強勁財務業績。非常感謝。至此，我們現在將開放提問。操作員？

(Operator Instructions) Ryan Daniels, William Blair.

（操作說明）Ryan Daniels、William Blair。

Yes, guys, thanks for all the color thus far. Congrats on the strong performance. If we look to the HCA rollout, can you give us a little bit more detail on that regarding if that's just going to be in the emergency department at first or when they go system-wide did anticipate kind of broadening that out into other specialties as well.

是的，夥計們，感謝迄今為止的所有顏色。恭喜您的強勁表現。如果我們考慮 HCA 的推出，您能給我們提供更多詳細資訊嗎？首先是在急診科，還是在全系統範圍內確實預計將其擴展到其他專業，例如出色地。

Hey, Ryan, good question. So there are multiple thrusts within HCA in terms of rollout. The one that obviously we've been talking about the most is in the emergency department and as you know, we're currently deployed in four hospitals at HCA and is that deployment the plan for broadening broadening that deployment. It's going according to schedule. So we anticipate that occurring throughout the year. But beyond that, we are already seeing deployment of our products in other areas, other departments within HCRACA. and there are plans to accelerate that deployment come very soon.

嘿，瑞安，好問題。因此，HCA 內部在推出方面有多種推動力。顯然，我們談論最多的是急診科，如您所知，我們目前部署在 HCA 的四家醫院，並且該部署是擴大部署的計劃。事情正在按計劃進行。因此，我們預計這種情況會全年發生。但除此之外，我們已經看到我們的產品部署在 HCRACA 內的其他領域、其他部門。並且計劃很快就會加速部署。

Okay. And given the operating environment in an emergency department, both kind of the KSSC. multiple doctors and noncontiguous conversations, I assume that once it's built there, you don't really have to do a lot of work to take it into other specialties or clinical areas. Is that fair?

好的。考慮到急診室的操作環境，兩者都是 KSSC。多個醫生和不連續的對話，我認為一旦在那裡建立起來，你實際上不需要做很多工作來將其引入其他專業或臨床領域。這樣公平嗎？

Well, sort of there's some things that do overlap with other other departments. But there's there's certain things in the emerging department that are unique to the emergency department from being able to slip in and out of different patient EHRs. As you follow the path of the doctor, would it may be the same for hospitalists, for example and for nurses. But on the clinical side, it's not that's not the case, it's not necessary. They follow a schedule patient schedule of fixed predetermined before the day starts. And so it's quite it's a very linear workflow. So it's a lot easier to develop the product, which we've done already for the clinical side of the house.

嗯，有些事情確實與其他部門重疊。但是，新興科室有一些急診獨有的東西，因為能夠進出不同的病患電子病歷。當您沿著醫生的道路前進時，對於住院醫生（例如護士）來說，情況是否會相同？但從臨床角度來看，並非不是這樣，也沒有必要。他們遵循一天開始前預先確定的固定患者時間表。所以這是一個非常線性的工作流程。因此，開發產品要容易得多，我們已經在臨床方面完成了這項工作。

Helpful. And then two more quick ones. And then just in regards to the premium go version, I think you referred to it as go assist. It was that a novel launch based on feedback you're getting from clinicians that they want to still involve a medical document specialist to make it even simpler for them to just review and sign off? Or is that something you're proactively putting in the market just to have kind of the broadest product offering of any vendor in this space?

有幫助。然後還有兩個更快的。然後就高級 go 版本而言，我認為您將其稱為 go Assist。這是一項新穎的推出，基於您從臨床醫生那裡得到的反饋，他們仍然希望讓醫療文件專家參與進來，以使他們更簡單地審查和簽署？或者您主動投入市場只是為了在該領域擁有最廣泛的產品供應？

Well, everything that we build is based on feedback we get from the market from our customers and prospective customers. So we had heard that ideally, everything that comes out of the backend is perfect or that doctors have an infinite amount of time to devote to medical documentation. That's not reality, hence. So there needs to be a solution to address is there no time constraints on the part of the doctor or limitations of the technology when it comes to more complex types of encounters and that led us to develop this particular product. It's a hybrid product where the flip of the switch, the clinician can choose to get some support to the extent they feel it's necessary Okay.

好吧，我們建立的一切都是基於我們從客戶和潛在客戶那裡獲得的市場回饋。所以我們聽說，理想情況下，後端輸出的所有內容都是完美的，或者醫生有無限的時間致力於醫療文件。因此，這不是現實。因此，需要有一個解決方案來解決，當涉及到更複雜的情況時，醫生沒有時間限制，也沒有技術的限制，這促使我們開發了這個特殊的產品。這是一種混合產品，只要按下開關，臨床醫生就可以選擇獲得他們認為有必要的支援。

Perfect. And then, Paul, maybe one for you and I'll hop off in regards to the gross margins. Appreciate the color on Q. one and some of the one-time items related to India for the full year. However, do you still think year over year gross margins will be able to expand? Or will this kind of transitory pushing q. one, keep them down year over year for the full year? Thanks.

完美的。然後，保羅，也許給你一個，我就談談毛利率。欣賞問題一的顏色以及全年與印度相關的一些一次性項目。但是，您仍然認為毛利率能夠比去年同期擴大嗎？或者說這種暫時的推q。第一，全年業績逐年下降？謝謝。

I think on a year-on-year basis, they'll be up. Obviously, we'll exit the year and better than we will have it for in the first quarter. But overall I would expect some gross margin expansion.

我認為，與去年同期相比，它們會上升。顯然，我們將在今年結束時比第一季的情況更好。但總體而言，我預計毛利率會有所上升。

Okay, perfect. Thank you so much, guys. Congrats again.

好的，完美。十分感謝大家。再次恭喜。

Thank you, Ryan.

謝謝你，瑞安。

Elizabeth Anderson, Evercore.

伊莉莎白安德森，《Evercore》。

Hi, guys. Thanks so much for the question and congrats on a nice quarter and outlook. I guess maybe just about of Ryan's question, just just the H2 rollout, maybe specific to the emergency department. Do you have any current indications from each year that sort of when they're expecting that to start rolling out or is that still sort of in flux at this point?

嗨，大家好。非常感謝您的提問，並祝賀您度過了一個美好的季度和前景。我想也許只是 Ryan 的問題，只是 H2 的推出，也許是針對急診的。您每年是否有任何當前跡象表明他們預計何時開始推出，或者目前仍在不斷變化？

We have a general idea that they wanted to make it happen as soon as possible. And they have a formal process that they go through in terms of evaluation of the initial users and the data from their their from their use of the product. And they have certain criteria that they'd like us to achieve. And I think we're well on the way to meeting those those goals. So yes, my best guess is that it's going to happen very soon within within less than a month.

我們的整體想法是他們希望盡快實現這一目標。他們有一個正式的流程來評估初始使用者以及他們使用產品的資料。他們有一些希望我們達到的標準。我認為我們正在順利實現這些目標。所以，是的，我最好的猜測是，這將在不到一個月的時間內發生。

Great set of indicators. And then just on your hiring, obviously, you've made a number of hires since the equity raise in the fall. How do you feel about where you are in terms of your $9 million of incremental investment. Do you have all the people in place addition of any key areas that you're still waiting to hire? Any more color on that would be helpful.

一組很棒的指標。然後就你的招募而言，顯然，自從秋季股權融資以來，你已經招募了很多員工。您對 900 萬美元增量投資的現況有何看法？除了您仍在等待招募的任何關鍵領域之外，您是否已安排好所有人員？任何更多的顏色都會有幫助。

Yes, we're well underway, but we're not we haven't completed the hires yet. So we have a very specific plan of who we're going to hire what physicians, what department, et cetera. And I'd say and Paul can chime in on this, we're probably about two thirds of the way through that hiring process by our CFO, and he's a 4Q 23 provider. It include any GO users. It does not come in historically. We've just we've include live and notes. We will factor that in as this year progresses there, Argo users, and we're still working to make sure that we conform to how we've done historically done it.

是的，我們正在順利進行，但我們還沒有完成招募工作。因此，我們有一個非常具體的計劃，決定要雇用誰、什麼醫生、什麼科室等等。我想說，保羅可以插話一下，我們的財務長的招募流程可能已經完成了三分之二，他是 23 年第 4 季的供應商。它包括任何 GO 用戶。它沒有出現在歷史上。我們剛剛添加了現場和筆記。隨著今年的進展，Argo 用戶，我們將考慮這一點，並且我們仍在努力確保我們符合我們歷史上的做法。

Got it. And then terms of just talking about the GO assist version. How do we think about the sort of gross margins and maturity for that? It's sort of become between the sort of premium version? Should we still think of them being about 60%. It feels like the right way to think about that gross margin profile of those combined go and go versus direct.

知道了。然後就只是談論 GO 輔助版本。我們如何看待毛利率和成熟度？它有點像高級版本嗎？我們還應該認為他們是 60% 左右嗎？這感覺是考慮那些組合的 go and go 與 direct 的毛利率狀況的正確方法。

Yes, I would we've stated that goal being north of 60% gross margin product. And we've said historically that Augmedix nose was 55 to 60. So right in that area with where go assist and hopefully over time as we scale, it gets better.

是的，我希望我們的目標是產品毛利率超過 60%。我們歷史上說過 Augmedix 的鼻子是 55 到 60。因此，就在該領域提供協助，希望隨著時間的推移，隨著我們的規模擴大，情況會變得更好。

Okay, perfect. Super helpful, guys. Thanks so much and congrats again.

好的，完美。非常有幫助，夥計們。非常感謝並再次恭喜。

Thank you, Elizabeth.

謝謝你，伊麗莎白。

[Aaron Watts], Lake Street Capital Markets.

[亞倫·瓦茨]，湖街資本市場。

Hey, good afternoon, guys. This is analyzed for Brooks and congrats on the strong quarter. Bob, I guess, do you feel that the open platform partnerships of them materializing interior likeness and generating some impact to their customers? If you could just give us a sense as to what you've been seeing there that would be.

嘿，下午好，夥計們。布魯克斯對此進行了分析，並祝賀這個季度的強勁表現。鮑勃，我想，您是否認為他們的開放平台合作夥伴關係實現了內部相似性並對其客戶產生了一些影響？如果您能讓我們了解一下您在那裡所看到的情況，那就太好了。

So again, we haven't deployed anything yet. We're still developing the product. But if you recall, the impetus for doing this came from our customers in particular HCA. So we anticipate that HCA will be a source of demand for these particular products and they'll be on our platform. We will book the revenue, but we haven't completed the integration with it. For example, with the Sullivan group where it's underway, that work is underway, work is underway with Ellipsis at the behavioral health application. So those are underway. They will be deployed this year. But dumb FARES, there's no there's no response yet from the market because they haven't been deployed.

再說一次，我們還沒有部署任何東西。我們仍在開發該產品。但如果您還記得的話，這樣做的動力來自我們的客戶，尤其是 HCA。因此，我們預計 HCA 將成為這些特定產品的需求來源，並且它們將出現在我們的平台上。我們會記入收入，但我們還沒有完成與它的整合。例如，Sullivan 集團正在進行這項工作，而 Ellipsis 正在進行行為健康應用的工作。所以這些正在進行中。他們將於今年部署。但是愚蠢的票價，市場還沒有任何反應，因為它們還沒有部署。

Okay, thanks. Thanks for that clarification. And then on I guess, as you start beginning the rollout go, do you expect any significant product mix shift? I guess just trends that you're expecting throughout the remainder of the year will be helpful as well, thank you.

好的謝謝。感謝您的澄清。然後我想，當您開始推出時，您是否預計會出現任何重大的產品組合轉變？我想您在今年剩餘時間所期待的趨勢也會有所幫助，謝謝。

Well, you have to, I think, distinguish between users and revenue and from a user perspective, yes, I do expect there could be a shift in favor of GO as it grows faster than our other products, our legacy products from a revenue perspective because the RPU is so much lower for gold than it is for our legacy products. I don't think you'll see a similar, you know, realignment of the of the revenue mix in 24.

好吧，我認為，你必須區分用戶和收入，從用戶的角度來看，是的，我確實預計GO 可能會發生轉變，因為從收入的角度來看，它的增長速度比我們的其他產品、我們的傳統產品更快因為黃金的 RPU 比我們的傳統產品低得多。我認為你不會在 24 世紀看到類似的收入結構調整。

Got it. Okay.

知道了。好的。

That is helpful. Thanks, guys. Well, thank you, everyone.

這很有幫助。多謝你們。嗯，謝謝大家。

Allen Klee, Maxim Group.

艾倫克利，馬克西姆集團。

I'm so sorry about that. About the competitive environment. Can you discuss a little some there's been some companies that have gotten funding down for some of your comments on the a bunch of, you know, people doing AI models with it. Two things about that one. Once that kind of imply that license is going to be pricing pressure, we're the main players in the industry coming up and down along with that, like it, if somebody had a hearing choose if they have a doctor that chooses to go, are they displaced displacing one of your services like my for more of us, when do you think that would be placing some like a competitor?

對此我感到非常抱歉。關於競爭環境。你能討論一下嗎？有些公司因為你對一群用它做人工智慧模型的人的評論而獲得了資金。關於那件事有兩件事。一旦這種暗示意味著許可證將帶來定價壓力，我們就是這個行業的主要參與者，隨之而來的是上下波動，就像這樣，如果有人有聽證會選擇，如果他們有醫生選擇去，他們是否會為更多人取代像我這樣的你們的一項服務，你們認為什麼時候這會將某些服務視為競爭對手？

Good question. So just broadly, in terms of the competitive landscape, yes, there have been several newcomers in this space, which is what we anticipated well over a year ago. All that does is basically reinforced the fact that our belief that this is a very large market, very attractive market and therefore, it's going to attract our competitors and venture capitalists who want to, you know, take advantage of that big opportunity. Having said that, the companies that you're describing that have announced large raises recently, one in particular, that's probably commanded.

好問題。因此，從廣義上講，就競爭格局而言，是的，這個領域出現了一些新來者，這正是我們一年多前的預期。所有這些基本上都強化了這樣一個事實，即我們相信這是一個非常大的市場，非常有吸引力的市場，因此，它將吸引我們的競爭對手和風險資本家，他們想要利用這個巨大的機會。話雖如此，你所描述的公司最近宣布了大幅加薪，尤其是其中一家公司，這可能是被要求的。

Most of the the airwaves has 65 employees. And so they what they still need to do is build the infrastructure that is necessary to support wide-scale deployment of their product. We've made that investment already. So we've got the infrastructure in place to deploy widely at scale and so we anticipate that these smaller companies, these newer companies are going to have to do the same thing that you have to make those investments in infrastructure to be able to scale from now the second part of your question, I could start refresh my memory issue.

大多數廣播電台擁有 65 名員工。因此，他們仍然需要做的是建立支援其產品大規模部署所需的基礎設施。我們已經進行了這項投資。因此，我們已經擁有了可以大規模廣泛部署的基礎設施，因此我們預計這些較小的公司、這些較新的公司將必須做同樣的事情，你必須對基礎設施進行投資，以便能夠從現在你問題的第二部分，我可以開始刷新我的記憶問題。

So disposition, yes. So in terms of cannibalization of products, we haven't seen that and we don't anticipate it primarily because it AC in particular, there's there's little live that's that's there to be displaced number one. And so it's mostly greenfield, a shale. I mean, vastly greenfield at HCA. So there's little opportunity for any kind of cannibalization, but more broadly across our all of our customers, we don't think so. We believe that go will cater to a distinct persona and price point in the market are quite different from the persona and price point of live customers. And we tested this this belief when we launched our newest product a couple of years ago and found that there was virtually no cannibalization of our live product. When we launched notes at a RPU that was less than half that of why does that answer your question, Alex?

所以性格，是的。因此，就產品的蠶食而言，我們還沒有看到這種情況，我們也沒有預見到這種情況，主要是因為它特別是AC，幾乎沒有什麼可以取代第一名。所以它主要是未開發的頁岩地。我的意思是，HCA 擁有廣闊的綠地。因此，幾乎沒有機會進行任何形式的蠶食，但更廣泛地說，在我們所有的客戶中，我們不這麼認為。我們相信，go 將迎合市場上獨特的角色和價格點，與現場客戶的角色和價格點有很大不同。幾年前，當我們推出最新產品時，我們測試了這一信念，發現我們的即時產品幾乎沒有被蠶食。當我們在 RPU 上推出筆記時，RPU 還不到一半，為什麼可以回答你的問題，Alex？

Yes, thank you. One last question on your guidance where you said that the first quarter will be lower by 300 basis points some temporary costs related in Bangladesh, the cost initiatives in India phone. Could you explain a little what what what do you think the impact of these extra cost spectrum taking on I mean, it's built for some people that if you're really a technology company, why and why not that profitable? Seems like a lot and maybe you're less embellished with what you're doing is exemplary on. I don't know if it's could you just help us understand that?

是的，謝謝。關於您的指導的最後一個問題，您說第一季將降低與孟加拉國、印度電話成本計劃相關的一些臨時成本 300 個基點。您能否解釋一下您認為這些額外成本範圍的影響是什麼？我的意思是，它是為某些人而建立的，如果您真的是一家技術公司，為什麼以及為什麼不那麼有利可圖？看起來很多，也許你對自己所做的事情不太修飾，堪稱典範。不知道您能否幫助我們理解？

Sure. I'll use it as we stand today. Vast majority of our revenue still delivered by Augmenix live our legacy historical premium product. So that's still a human in the loop that we have a MDS that works with the clinician. So we we moved as we've grown we moved to a bigger office location in Dhaka in Bangladesh, and we are sunsetting the old building that we've been in since the 2018, maybe 2017. And so we've got a few months of duplicate costs there, rent transportation. So we'll come to the building up and running that for two buildings.

當然。我將按照今天的立場使用它。我們的大部分收入仍然由 Augmenix 提供，來自我們傳統的歷史優質產品。因此，我們擁有與臨床醫生合作的 MDS，這仍然是一個人在循環中的情況。因此，隨著我們的成長，我們搬到了孟加拉國達卡的一個更大的辦公地點，我們正在拆除自 2018 年（也許是 2017 年）以來一直使用的舊建築。所以我們有幾個月的重複成本，交通租金。因此，我們將開始為兩棟建築建立並運行它。

We've also in India, sorry, in India, optimizing our service delivery to make sure we have the highest quality service at the best price. And so we're doing that and there's going to be about three months of overlap that will end in early May around that initiative. Those two things combined are basically the entire decline in gross margins quarter on quarter.

我們還在印度，抱歉，在印度優化我們的服務交付，以確保我們以最優惠的價格提供最優質的服務。因此，我們正在這樣做，並且圍繞該計劃將有大約三個月的重疊時間，並將於五月初結束。這兩件事加起來基本上就是毛利率的季度較上月下降。

Okay. Thank you very much.

好的。非常感謝。

[Jan Z], B. Riley Securities.

[Jan Z]，B. Riley 證券。

Manny, congrats on the launch of GO, and it's great to hear that you can save up to ours for Dockers. So can you talk about some of the enhancements you recently added to go in the Anvil ambulatory setting and we have those it has then also added to the ER setting as well.

Manny，恭喜 GO 推出，很高興聽到您可以為 Docker 節省最多的錢。那麼，您能否談談您最近在 Anvil 流動設定中添加的一些增強功能，我們也將其添加到了 ER 設定中。

Particularly cultures are facing a non-linear workflow in the emergency room setting, right? So we're always enhancing our products. We we've been releasing new features and enhancements to go almost on a weekly basis at this point. And so there are too many to recount now, but they're all designed to improve the user experience and to deliver greater utility to the health care enterprise. And you're right to point out that the products are designed differently between the clinical setting and the acute care setting for the emerging department you have a different section in the Medical Note that you had to create from scratch is called the NDSDM., which is essentially A.

特別是文化在急診室環境中面臨非線性工作流程，對嗎？因此，我們一直在增強我們的產品。目前，我們幾乎每週都會發布新功能和增強功能。現在有太多的內容無法一一列舉，但它們都是為了改善使用者體驗並為醫療保健企業提供更大的效用而設計的。您正確地指出，臨床環境和新興部門的急診環境之間的產品設計不同，您在醫療筆記中有一個不同的部分，您必須從頭開始創建，稱為 NDSDM。，本質上是A。

It's the medical decision making that's occurring in the emergency room. And that is not part of the standard note format for clinical outcome for the clinical visits. And so we had that we had to design that we had to get input from EHR data that comes in the form of labs and so forth. We had to be able to input those into the application and as close to real-time as possible so that the clinician knows at any given moment, the updated status of a patient so that they know when to return back to that patient to resume their their encounter in a version for it. So these are some of the things that we've been doing. We keep adding to the to the feature set for each product as we iterate and get feedback from our customers.

這是在急診室做出的醫療決策。這不是臨床就診臨床結果標準記錄格式的一部分。因此，我們必須設計，我們必須從實驗室等形式的 EHR 資料中取得輸入。我們必須能夠將這些輸入到應用程式中，並儘可能接近實時，以便臨床醫生在任何特定時刻都知道患者的最新狀態，以便他們知道何時返回該患者以恢復他們的治療。他們的相遇在一個版本裡吧。這些是我們一直在做的一些事情。當我們迭代並獲得客戶回饋時，我們不斷添加每個產品的功能集。

Maybe one of the maybe the biggest sort of enhancements we've made since we launched go or over the last six months is continuing to add additional specialties. As you heard me say, we've now service 50 specialties will continue to go deeper in a few key specialties, but we go now supports of sees over 50 specials where that's been a big enhancement over the last four or five months.

也許自我們推出 go 以來或在過去六個月中我們所做的最大的增強之一就是繼續添加額外的專業。正如你聽到我說的，我們現在已經為50 個專業提供服務，我們將繼續在一些關鍵專業領域進行更深入的研究，但我們現在支持的專業超過50 個，在過去的四五個月裡這是一個很大的增強。

Right? And that just data and we ready reduce that like a little over a week ago. Got it. Yes, that's very helpful.

正確的？這只是數據，我們已經準備好將其減少，就像一周多前一樣。知道了。是的，這非常有幫助。

Additional color there. And maybe one last one from me. Can you clarify the difference between go assist the premium version versus the nodes such as the level of involvement from medical documents specialist or a high contribution in terms of the the workflow and the utility, there's very little difference. However, notes will be sunset and it will be replaced by GO assist. And the reason for that is we want to provide our customers with a seamless experience, allowing them to transition from one to the other on demand as they needed. If you have two independent applications, there's it's more laborious to go from one app to another. So we wanted to eliminate that duality and just have it appeared in one seamless range of service that you get from one application.

那裡有額外的顏色。也許還有我的最後一張。您能否澄清一下 go Assist 高級版本與節點之間的區別，例如醫療文件專家的參與程度或在工作流程和實用程式方面的高貢獻，兩者之間幾乎沒有區別。然而，註釋將被取消，並將被 GO 輔助取代。原因是我們希望為客戶提供無縫體驗，使他們能夠根據需要從一種方式過渡到另一種方式。如果您有兩個獨立的應用程序，從一個應用程式轉到另一個應用程式會更加費力。因此，我們希望消除這種二元性，讓它出現在您從一個應用程式獲得的一系列無縫服務中。

Got it. Yes, that's all from us. Thank you.

知道了。是的，這都是我們的。謝謝。

You're welcome.

不客氣。

Thank you.

謝謝。

Allen Klee, Maxim Group.

艾倫克利，馬克西姆集團。

Yes, it's high for the for the $9 million of incremental loans pending from the capital raise them. So is it fair to assume that it's going to take longer to deploy it all in hiring and different things, so that should grow kind of incrementally as we go throughout the year rather than straight line?

是的，對於籌集資金所需的 900 萬美元增量貸款來說，這個數字很高。那麼，假設在招聘和其他事情上部署這一切需要更長的時間，所以這應該隨著我們全年的發展而逐漸增長，而不是直線增長，這是公平的嗎？

Yes, yes, I found one. We have done a really good job. The team has done a great job of we as soon as we made the decision to raise capital, we started starting opening some hiring process. So we were able to get a little bit of adamant that obviously not start until we actually had raised the capital. The team's done a great job of hitting hitting the goals. Obviously, we're hiring quite a few people. So but I think we're, as Manny said, we're two thirds of that. Hiring is already complete with more people coming on. We had some approvals today. We have done some projects here in the first quarter. So I'd say we're fully it's going to be fully reflected here in the in the second quarter with a lot of it reflected in the first.

是的，是的，我找到了一個。我們做得非常好。當我們決定籌集資金時，我們的團隊就完成了出色的工作，我們開始啟動一些招募流程。因此，我們能夠得到一點堅定的態度，顯然在我們真正籌集資金之前不會開始。該團隊在實現目標方面做得非常出色。顯然，我們正在招募相當多的人。所以，但我認為，正如曼尼所說，我們是其中的三分之二。招募已經完成，更多人即將加入。今天我們得到了一些批准。第一季我們在這裡做了一些專案。所以我想說，我們完全會在第二季度充分體現這一點，其中許多都在第一季反映出來。

Thank you.

謝謝。

Bill Sutherland, The Benchmark Company.

比爾·薩瑟蘭，基準公司。

It's usually Hey, guys been a very I just have I've a product question. I haven't heard about Augmenix perhaps in awhile. I did note that became a significant product for you guys.

通常是「嘿，夥計們，我只是有一個產品問題」。我可能有一段時間沒聽過 Augmenix 了。我確實注意到這對你們來說成為了一個重要的產品。

Yes. So a good question, Phil. We actually just signed an order for more prep at one of our biggest customers. So it seems to be getting some traction. It's still a fraction of our revenues relative to our other products, but it's there it does fill a need and we will continue to make it available to the market. And I suspect that the demand for it will expand as people become more aware of it. Okay. Well, timed question. I think.

是的。這是一個很好的問題，菲爾。實際上，我們剛剛簽署了一份訂單，為我們最大的客戶之一提供更多準備。所以它似乎受到了一些關注。相對於我們的其他產品，它仍然只占我們收入的一小部分，但它確實滿足了需求，我們將繼續將其推向市場。我懷疑隨著人們對其認識的增強，對它的需求將會擴大。好的。嗯，定時提問。我認為。

And then on your partnership with Google, maybe update us in terms of the components of that, you know, what, what's perhaps base on the original partnership, how that's what's what's the most important aspects of it as that's developed for you guys and what you kind of hold on your expectations going forward?

然後，關於您與谷歌的合作夥伴關係，也許可以向我們介紹一下其中的組成部分，您知道，什麼，什麼可能是基於最初的合作夥伴關係，這就是為你們開發的最重要的方面以及什麼你對未來的期望保持不變嗎？

Thanks for a good question, David and the partnership is really predicated on two principle thrusts. One is technology. So we utilize Google technology in our platform. And the second thrust is go-to-market. So Google Cloud is our biggest most important channel partner, if you will. And dumb, we've had some very obviously HBA's the biggest success, but we've had other successes with through Google Cloud, and we are actively pursuing some significant opportunities again through that relationship. It's a fantastic. It's been a fantastic partnership, and we don't we see more of that. It transpiring throughout the course of 24 and beyond.

謝謝你提出了一個很好的問題，大衛和我們的合作關係確實基於兩個原則。一是技術。因此，我們在我們的平台中利用了谷歌技術。第二個推動力是進入市場。因此，如果您願意的話，Google Cloud 是我們最大、最重要的通路合作夥伴。愚蠢的是，我們已經取得了一些非常明顯的 HBA 最大的成功，但我們透過 Google Cloud 取得了其他成功，我們正在透過這種關係再次積極尋求一些重要的機會。這真是太棒了。這是一次非常棒的合作，我們不會看到更多這樣的合作。它發生在24小時及以後。

Have you seen of the health systems utilizing the Google Cloud Marketplace to them to purchase your services?

您是否看過醫療系統利用 Google Cloud Marketplace 來購買您的服務？

Yes. In fact, we have some and there's a whole process. You have to go administrative process you have to go through to enable that. And we've already done that with Paul, correct me if I'm wrong, HCA. I think that's public and we're working on doing that with another health system as well. So and that's going to be a standard part of that of that go-to-market strategy.

是的。事實上，我們有一些，並且有一個完整的過程。您必須透過管理流程才能實現這一點。我們已經和 Paul 一起這樣做了，如果我錯了，請糾正我，HCA。我認為這是公開的，我們也在努力與另一個衛生系統合作。因此，這將成為進入市場策略的標準部分。

It's got it. Great workers. Thanks, appreciate it.

已經得到了。偉大的工人。謝謝，感激不盡。

Thanks, Bill.

謝謝，比爾。

Thanks, Bill.

謝謝，比爾。

There are no further questions in the queue. I'd like to hand it back to management for closing remarks.

隊列中沒有其他問題。我想將其交還給管理層以供結束語。

Well, it just wanted to conclude by reiterating that we had a really, really solid 2023, very pleased with the Company's performance. And looking forward, really we're putting in this all the necessary ingredients to ensure that we have a very, very competitive set of products that the market wants to buy and the market is growing very quickly for health care in particular is adopting new technology at a unprecedented rate, and we believe we are building the right infrastructure and products take full advantage of it. So I'm looking forward to a very exciting 2024 and beyond as for the company. Thank you.

嗯，最後它只是想重申，我們的 2023 年非常非常紮實，對公司的業績非常滿意。展望未來，我們確實投入了所有必要的成分，以確保我們擁有一套非常非常有競爭力的產品，這些產品是市場想要購買的，而且醫療保健市場正在快速增長，特別是採用新技術以前所未有的速度，我們相信我們正在建造正確的基礎設施，並且產品充分利用它。因此，對於公司來說，我期待著非常令人興奮的 2024 年及以後。謝謝。

Ladies and gentlemen, this does conclude today's teleconference. Thank you for your participation and you may disconnect your lines at this time and have a wonderful day.

女士們、先生們，今天的電話會議到此結束。感謝您的參與，此時您可以斷開線路並祝您度過美好的一天。