Authid Inc (AUID) 2024 Q3 法說會逐字稿

Thank you for standing by. My name is Bella and I will be your conference operator today. At this time. I would like to welcome everyone to the authID third-quarter, 2024 earnings call. (Operator Instructions)

感謝您的支持。我叫貝拉，今天我將擔任您的會議主持人。此時。歡迎大家參加 authID 2024 年第三季財報電話會議。（操作員指令）

I would now like to turn the call over to Graham Arad, right? Please go ahead.

我現在想把電話轉給 Graham Arad，可以嗎？請繼續。

Thank you operator. Greetings and good afternoon. This is Graham Arad, General Counsel of authID. Welcome to the authID third quarter, 2024 results conference call. As a reminder, this conference is being recorded. with me on today's call are our CEO Rhoniel Daguro; and our CFO Ed Sellitto.

謝謝接線生。大家好，下午好。我是 authID 的總法律顧問 Graham Arad。歡迎參加 authID 2024 年第三季業績電話會議。提醒一下，本次會議正在錄音。今天與我一起參加電話會議的還有我們的執行長 Rhoniel Daguro；以及我們的財務長 Ed Sellitto。

Right now. You should have access to today's press release announcing our third quarter, 2024 results. If you have not received it, the release can be found on our website at [www.authID.ai] under the Investor Relations section.

現在。您應該可以查看今天的新聞稿，其中宣布我們 2024 年第三季的業績。如果您尚未收到該新聞稿，您可以在我們網站 [www.authID.ai] 的「投資者關係」部分找到它。

Throughout this conference call, we will be presenting certain non-GAAP financial information. This information is not calculated in accordance with GAAP and may be calculated differently from other companies. Similarly titled non-GAAP information. Quantitative reconciliation of our non-GAAP adjusted EBITDA information to the most directly comparable GAAP financial information appear in today's press release.

在整個電話會議期間，我們將提供一些非 GAAP 財務資訊。此資訊並非依照GAAP計算，可能與其他公司的計算方式不同。類似標題的非 GAAP 資訊。今天的新聞稿中列出了我們非 GAAP 調整後 EBITDA 資訊與最直接可比較的 GAAP 財務資訊的定量對帳。

Before we begin our formal remarks. Let me remind everyone that part of our discussion today will include forward-looking statements, that forward-looking statements are not guarantees of future performance and therefore you should not place undue reliance on them.

在我們開始正式發言之前。讓我提醒大家，我們今天的討論內容將包括前瞻性陳述，前瞻性陳述並不能保證未來的表現，因此您不應過度依賴它們。

These statements are subject to numerous uncertainties that could cause actual results to differ materially from what we expect. Some of these risks are mentioned in today's press release, others are discussed in our Form 10-K and other filings which are made available at www.sec.gov.

這些聲明受到許多不確定因素的影響，可能導致實際結果與我們的預期有重大差異。今天的新聞稿中提到了其中一些風險，其他風險則在我們的 10-K 表格和其他文件中進行了討論，這些文件可在 www.sec.gov 上查閱。

I'd now like to introduce our CEO, Rhoniel Daguro.

現在我想介紹我們的執行長 Rhoniel Daguro。

Thank you, Graham and thank you all for joining us today. I'm very excited to cover our third quarter results and provide an update across all of our initiatives. authID had a highly productive quarter and I'm pleased with our progress and our overall path of growth.

謝謝你，格雷厄姆，也謝謝大家今天的到來。我很高興介紹我們第三季的業績並介紹我們所有計劃的最新進展。 authID 本季的業績非常出色，我對我們的進展和整體成長路徑感到滿意。

Turn to slide 4, we are focused on accelerating and diversifying revenue growth. To do that, we must continue to improve our technology, widen the GAAP from our competitors and assure our customers that we are offering the best technology, superior security and customer delights.

轉到投影片 4，我們專注於加速和多樣化收入成長。為了實現這一目標，我們必須不斷改進我們的技術，擴大與競爭對手的 GAAP 差距，並向我們的客戶保證我們提供最好的技術、卓越的安全性和客戶滿意度。

It is very important for off IDs product leader to have the depth and experience to help us reach $100 million in ARR and beyond. And so we are excited to welcome Erick Soto as our new Chief Product Officer, Erick brings over 15 years of experience in identity verification and financial services and has a proven track record in driving product innovation combined with our history of collaboration and building a uniform company Erick positions us to further strengthen our platform and deliver exceptional value to our customers.

對於 Off ID 產品負責人來說，擁有深度和經驗來幫助我們實現 1 億美元甚至更高的 ARR 非常重要。因此，我們很高興歡迎 Erick Soto 擔任我們的新首席產品官，Erick 擁有超過 15 年的身份驗證和金融服務經驗，在推動產品創新方面擁有良好的記錄，結合我們合作和建立統一公司的歷史，Erick 使我們能夠進一步加強我們的平台並為我們的客戶提供卓越的價值。

I also want to cover the news we issued earlier this week announcing that authID has signed a $10 million agreement with the next generation AI company to enable biometric authentication for a wide range of industries in India. This agreement represents a $10 million commitment over a three year period with the minimum commitment of $3.3 million each year for licensing authID's identity platform services.

我還想報道我們本週稍早發布的新聞，宣布 authID 已與下一代人工智慧公司簽署了一項價值 1000 萬美元的協議，為印度的廣泛行業提供生物識別身份驗證。該協議代表著三年內 1000 萬美元的承諾，其中每年最低承諾 330 萬美元用於授權 authID 的身份平台服務。

We are incredibly excited to enter the Indian market where over the next 10 years, the biometric authentication industry could see exponential growth in transaction volumes as the demand of biometric identification continues to rise.

我們非常高興能夠進入印度市場。

We look forward to closely working with our new partner to deliver biometric authentication accuracy and a frictionless user experience to a wide variety of customers across banking, financial services, emergency services and transportation industries in India and beyond.

我們期待與我們的新合作夥伴密切合作，為印度及其他地區的銀行、金融服務、緊急服務和運輸行業的廣泛客戶提供準確的生物識別認證和無摩擦的用戶體驗。

We also made good progress in securing new customers and OEM contracts in Q3, we signed a multi year agreement with a global retail technology organization which will leverage our biometric identity solutions to enhance digital experiences for multinational retailers and serve as an OEM reseller in the Asia Pacific market.

我們在第三季度還在爭取新客戶和 OEM 合約方面取得了良好進展，我們與一家全球零售技術組織簽署了一項多年期協議，該組織將利用我們的生物識別解決方案來增強跨國零售商的數位體驗，並擔任亞太市場的 OEM 經銷商。

This customer deal was over $1 million in contract booking, adding another booking, over $1 million coming out of our fat 100 target. Further, we entered the telecommunications sector by signing an agreement with a broadband provider operating in all 50 states, enabling them to streamline and secure onboarding through our biometric identity and document verification solutions.

這次客戶交易的合約訂單量超過 100 萬美元，再加上另一筆訂單，超出了我們的 100 大目標 100 萬美元。此外，我們還與一家在美國全部 50 個州運營的寬頻供應商簽署了協議，進軍電信領域，使他們能夠透過我們的生物辨識身分和文件驗證解決方案簡化和確保入職流程。

Next, I want to highlight some recent customer Go-Live and successful adoption of our solution. Last quarter, I was excited that we took four customers into production Go-Live and I'm even more excited to do a back to back. For the second consecutive quarter, we've taken four customers to production, Go-Live and the best part is that two deals signed in Q3 with production Go-Live in the same quarter, matching our current time estimate for Go-Live, which can take three to six months depending on the size of the company.

接下來，我想重點介紹一些最近客戶上線並成功採用我們的解決方案的情況。上個季度，我很高興我們已幫助 4 位客戶投入生產，更讓我高興的是，我們能夠連續完成這項任務。連續第二個季度，我們已經幫助 4 個客戶投入生產並上線，最棒的是，我們在第三季度簽署了兩筆交易，並在同一季度投入生產，這與我們目前對上線時間的估計相符，根據公司的規模，上線可能需要三到六個月的時間。

We recently made key staff appointments to bolster our sales initiatives. I'm very excited to add to our team, Donna Shawhan as VP of partnership and Eric Akre as VP of Sales both of them specializing in financial services.

我們最近任命了關鍵員工來加強我們的銷售措施。我很高興加入我們的團隊，Donna Shawhan 擔任合作副總裁，Eric Akre 擔任銷售副總裁，他們兩人都專門從事金融服務。

The additions of Donna and Eric further emphasize our commitment to expanding our go to market reach. We hire these identity domain experts because of their fantastic track records and I'm confident they'll bring tremendous value to our clients.

Donna 和 Eric 的加入進一步強調了我們擴大市場覆蓋範圍的決心。我們聘請這些身分領域專家是因為他們有著出色的業績，我相信他們會為我們的客戶帶來巨大的價值。

Continuing to slide 5. We are seeing growth in the usage of our Proof and Verified products. Looking at the graph on the left, let's start with our Proof product. The average number of proofs processed per quarter before I joined was approximately 20,000.

繼續滑到第 5 頁。我們發現 Proof 和 Verified 產品的使用量正在成長。看看左邊的圖表，讓我們從我們的證明產品開始。在我加入之前，每季處理的平均證明數量約為 20,000 個。

From the time we re-launched the company in June 2023 to June 2024, the number of identities processed per quarter has gone up approximately 25 times to an average of 440,000 Proofs. We are also seeing a strong ramp in volume in the third quarter of 2024 with almost 800,000 Proofs being completed, which is nearly double the average volumes we processed during the earlier quarters.

從我們於 2023 年 6 月重新啟動公司到 2024 年 6 月，每季處理的身份數量增加了約 25 倍，平均達到 44 萬個證明。我們也看到 2024 年第三季的處理量強勁成長，已完成近 80 萬份證明，幾乎是我們前幾季處理的平均數量的兩倍。

And finally, over the last 12 months, up to the beginning of October 2024, authID process more than 2 million pros, which is more than 50 times the transaction volume compared to the years before it started looking at the graph on the right. Our verified product is also seeing great graph since I took over.

最後，在過去的 12 個月中，截至 2024 年 10 月初，authID 處理了超過 200 萬筆交易，與右側圖表所示之前幾年相比，交易量增長了 50 多倍。自從我接手以來，我們驗證的產品也呈現出良好的成長動能。

Historically authID registered approximately 600 user identities per quarter. Since the reboot of the company in June 2023 the beginning of October 2024 we have registered an average of 21,000 user identities per quarter which is 42x growth.

從歷史上看，authID 每季註冊約 600 個使用者身分。自 2023 年 6 月公司重啟以來，截至 2024 年 10 月初，我們每季平均註冊的用戶身分為 21,000 個，成長了 42 倍。

Even better, the third quarter has shown strong growth of more than 94,000 registered identities and greater than 4x increase from previous quarters during this period. We are really pleased to see our usage ramp finally showing up in Q3. However, at the same time, we have experienced delayed customer Go-Live and adjustments to their volume expectations that have pushed out anticipated revenue from 2024 to 2025.

更令人欣喜的是，第三季註冊身分數量強勁成長，超過 94,000 個，比前幾季成長了 4 倍以上。我們非常高興地看到我們的使用量終於在第三季出現了成長。然而，同時，我們的客戶上線時間也出現了延遲，其銷售預期也進行了調整，導致預期收入從 2024 年推遲到 2025 年。

In consideration of these delayed customer Go Live and volume adjustments, we have reduced our full year revenue guidance to a range of 800,000 to 900,000 and will walk us through the financial shortly. And while we are disappointed to bring down our guide, I want to emphasize that this is still 4x growth over last year during which I was only fully operational for six months.

考慮到這些客戶上線延遲和數量調整，我們已將全年收入預期下調至 800,000 至 900,000 的範圍，並將在短期內介紹財務狀況。雖然我們對下調預期感到失望，但我想強調的是，這仍然比去年增長了 4 倍，而去年我僅全面運營了 6 個月。

Again, the fact that we have successfully signed customers and taking them live within the same quarter shows significant improvement demonstrating that we are much more capable today than we were six months ago. As we find more clients and brand customers, our revenue and our projections will get much more consistent. Moving the slide 6.

再次，我們在同一季度內成功簽約客戶並使其上線，這一事實表明我們取得了顯著的進步，證明我們今天的能力比六個月前強大得多。隨著我們找到更多的客戶和品牌客戶，我們的收入和預測將變得更加一致。移動幻燈片 6。

We have invested heavily in improving our technology and in making significant innovations that will unlock adoption of using biometric authentication. We made significant strides in advancing privacy capabilities by completely eliminating every single privacy and compliance concern for adopting biometrics.

我們投入大量資金用於改進我們的技術和做出重大創新，這將推動生物識別身份驗證的普及。我們透過徹底消除採用生物辨識技術的每一個隱私和合規性問題，在提高隱私功能方面取得了重大進展。

Very large enterprise customers have told us they are only doing technology evaluations with authID because we have eliminated privacy and compliance issues associated with storing biometric data. They have always wanted to use biometrics but were hesitant due to the potential liabilities. While regulations for biometrics are still being enacted. One customer said they would have to hire a compliance officer who specialize in biometrics if they were to use a biometric solution.

非常大的企業客戶告訴我們，他們只對 authID 進行技術評估，因為我們已經消除了與儲存生物特徵資料相關的隱私和合規性問題。他們一直想使用生物識別技術，但由於潛在的責任而猶豫不決。目前生物辨識法規仍在製定中。一位客戶表示，如果他們要使用生物辨識解決方案，就必須聘請一位專門從事生物辨識技術的合規官。

All of that concern is completely gone with our release of version 4.0 with privacy key. authID can now provide evidence based identity verification without compromising user biometric privacy. This is critical as the world moves away from passive and predictive based identity verification and moving towards evidence based identity verification.

隨著我們發布帶有隱私金鑰的 4.0 版本，所有這些擔憂都完全消失了。 authID 現在可以提供基於證據的身份驗證，而不會損害使用者生物特徵隱私。隨著世界逐漸從被動和基於預測的身份驗證轉向基於證據的身份驗證，這一點至關重要。

In addition, we've achieved a tremendous leap in accuracy with a false mass rate of 1 in 1 billion, simply explained for every set of 1 billion people. We may get it wrong just once and with 8 billion people on the planet, we would only get it wrong 8 times. This is near perfect accuracy. This is far more accurate than the standard 1 in 100,000 or AuthID in 1 million.

此外，我們在準確度上實現了巨大的飛躍，錯誤品質率為十億分之一，簡單來說，每 10 億人中就有 1 個。我們可能只會出錯一次，而地球上有 80 億人，我們只會出錯 8 次。這是近乎完美的準確度。這比標準的十萬分之一或百萬分之一的 AuthID 要準確得多。

In this new release. We continue to go faster in processing and we have added more capabilities to liveness detection to combat AI and deepfakes. In addition, we have focus on user flows by improving the algorithms for docking capture to improve completion rate as well as enhance the duplication capabilities to clean up identity records where fraudulent accounts can exist.

在這個新版本中。我們繼續加快處理速度，並在活體檢測中添加更多功能以對抗人工智慧和深度偽造。此外，我們專注於用戶流量，改進對接抓取演算法，提高完成率，並增強複製能力，清理可能存在詐欺帳戶的身份記錄。

And lastly, to make sure we properly serve our enterprise customers. We have completed the integration needed to incorporate authID into their platform. I am proud of our team and our third quarter accomplishments and we remain focused on executing our strategy and driving growth to finish the year strong. With that, I would like to turn over the call to our Chief Financial Officer, Ed Sellitto.

最後，確保我們能為企業客戶提供良好的服務。我們已經完成了將 authID 納入其平台所需的整合。我為我們的團隊和第三季的成就感到自豪，我們將繼續專注於執行我們的策略並推動成長，以強勁完成今年的工作。說到這裡，我想把電話轉給我們的財務長 Ed Sellitto。

Thank you Rhon. As Rhon highlighted, we continue to execute our strategy and expand our market reach to report growth during the quarter.

謝謝你，Rhon。正如 Rhon 所強調的，我們將繼續執行我們的策略並擴大我們的市場範圍，以在本季度實現成長。

The following highlights compare our GAAP results for the quarter and nine-month period ended September 30, 2024, with the quarter and nine month period ended September 30, 2023, unless specified otherwise. Looking at slide 7. Total revenue for the quarter was $249,000 compared to $43,000 a year ago. For the nine-month period, total revenue was $687,000 compared with $118,000 a year ago.

除非另有說明，以下重點將我們截至 2024 年 9 月 30 日的季度和九個月期間的 GAAP 結果與截至 2023 年 9 月 30 日的季度和九個月期間的 GAAP 結果進行比較。看投影片 7。本季總收入為 249,000 美元，去年同期為 43,000 美元。前九個月的總收入為 687,000 美元，而去年同期為 118,000 美元。

Operating expenses for Q3 were $3.8 million flat compared to the prior year. For the nine-month period operating expenses were $10.7 million compared to $7.6 million last year. The 2024 increase is primarily due to a one time non cash expense reversal in Q1 2023 of $3.4 million from the reversal of certain stock based compensation related to employee termination, which was not repeated in 2024.

第三季的營運費用為 380 萬美元，與去年持平。前九個月的營運費用為 1,070 萬美元，去年同期為 760 萬美元。2024 年的成長主要是由於 2023 年第一季一次性非現金支出逆轉 340 萬美元，該金額來自與員工解僱相關的某些股票薪酬逆轉，而 2024 年沒有重複發生這種情況。

Net loss from continuing operations for the quarter was $3.4 million of which non cash charges were$ 0.6 million. Compared with a net loss of $3.7 million a year ago, of which non cash charges were $1.6 million. For the nine-month period, net loss from continuing operations was $9.7 million including $2.2 million in non cash charges.

本季持續經營淨虧損為 340 萬美元，其中非現金費用為 60 萬美元。相較於去年同期的淨虧損370萬美元，其中非現金費用為160萬美元。前九個月，持續經營淨虧損為 970 萬美元，其中包括 220 萬美元的非現金費用。

This compares to a net loss of $16.4 million for the same period last year, which included $10.4 million in non cash and one time severance charges with approximately $7.5 million related to the exchange of convertible notes for common stock in 2023.

相較之下，去年同期的淨虧損為 1,640 萬美元，其中包括 1,040 萬美元的非現金和一次性遣散費，其中約 750 萬美元與 2023 年可轉換票據兌換普通股有關。

Net loss per share for the quarter improved to $0.31 compared to $0.47 a year ago. For the nine-month period, net loss per share improved to $0.97 compared with $3.05 for the same period last year.

本季每股淨虧損從去年同期的 0.47 美元改善至 0.31 美元。前九個月，每股淨虧損從去年同期的 3.05 美元改善至 0.97 美元。

Next, let's turn to RPO on slide 8. We also monitor and manage our remaining performance obligations on RPO in accordance with GAAP. And as noted in our financial statements, RPO provides a measure of the minimum revenue expected to be recognized from our signed contracts based on our customer's actual commitment.

接下來，讓我們轉到投影片 8 上的 RPO。我們也根據 GAAP 監控和管理我們對 RPO 的剩餘履約義務。正如我們的財務報表中所述，RPO 衡量了根據客戶的實際承諾，我們簽署的合約預計可確認的最低收入。

Before I get into our RPO results for the quarter. I wanted to take a minute to illustrate the way that RPO is determined in our business and how it flows into revenue over time. This slide illustrates the progression of RPO into revenue for a particular deal. In this case, a deal with $10 million in RPO signed in the fourth quarter of 2024 which we announced earlier this week.

在我介紹本季的 RPO 結果之前。我想花一點時間來說明 RPO 在我們的業務中的確定方式以及它如何隨著時間的推移轉化為收入。這張投影片說明了 RPO 在特定交易中轉化為收入的過程。在這種情況下，我們本週稍早宣布了一項於 2024 年第四季簽署的價值 1000 萬美元的 RPO 協議。

The $10 million in this example is calculated by looking at the contracted usage minimum or cARR of $3.3 million per year over a three year contract term. In other words, three years times $3.3 million per year equals $10 million. In RPO.

本例中的 1000 萬美元是透過查看三年合約期限內每年 330 萬美元的合約使用最低限額或 cARR 計算得出的。換句話說，三年乘以每年 330 萬美元等於 1,000 萬美元。在 RPO 中。

This $10 million will be recognized over time as revenue as highlighted in cARR -- the cARR column in dark blue. A s the revenue is recognized, the RPO balance highlighted in the purple bARRs on the left will decrease accordingly until all the revenue is recognized.

這 1000 萬美元將隨著時間的推移確認為收入，如 cARR 中深藍色部分所示。隨著收入被確認，左側紫色 bARR 中突出顯示的 RPO 餘額將相應減少，直到所有收入都被確認。

Lastly as discussed in prior earnings, call UAC or usage above commitment highlighted in the light blue bARR is expected to contribute additional revenue beyond the RPO as the customer ramps volume beyond contractual minimum levels in the second and third contract year.

最後，正如在先前的收益中所討論的那樣，隨著客戶在第二年和第三個合約年將使用量提升到合約最低水平以上，淺藍色 bARR 中突出顯示的呼叫 UAC 或超出承諾的使用量預計將在 RPO 之外貢獻額外收入。

In summary, our RPO represents the grand total of cARR associated with each customer contract and transitions into recognized revenue over the term of the contract. Moving to slide 9 as of September 30, our total RPO was $3.8 million, a decrease of $0.4 million over the prior quarter due to the impact of certain customers that have delayed their Go Lives and expected us to grant, as Ron referenced earlier.

總而言之，我們的 RPO 代表與每個客戶合約相關的 cARR 總額，並在合約期限內轉換為確認的收入。截至 9 月 30 日的第 9 張幻燈片顯示，我們的總 RPO 為 380 萬美元，比上一季減少了 40 萬美元，這是由於受到某些客戶推遲了他們的 Go Lives 並期望我們給予批准的影響，正如 Ron 之前提到的。

As we sign more customer contracts, there will be less variability with respect to our RPO numbers. The Q3 RPO includes deferred revenue of $0.3 million. Deferred revenue represents advanced payments received which are not yet recognized as revenue.

隨著我們簽署更多的客戶合約，我們的 RPO 數字的變化將會越來越小。第三季的 RPO 包括 30 萬美元的遞延收入。遞延收入代表已收到但尚未確認為收入的預付款。

The current RPO also includes $3.5 million in additional non cancellable revenue which has not been recognized under contracts that were signed in 2023 and through the third quarter of 2024, this compares favorably with the RPO at the same period last year, which was approximately $1.9 million.

目前 RPO 還包括 350 萬美元的額外不可取消收入，這些收入尚未根據 2023 年和 2024 年第三季簽署的合約確認，與去年同期的 RPO 約 190 萬美元相比有所改善。

We expect to recognize the full RPO of $3.8 million over the entire life of the contract, which are typically sign with a three year term. Over the next 12 months ending September 30, 2025, the company expects to recognize revenue of approximately 27% or $1 million of the 3.8 million in RPO based on contractual commitments and expected usage patterns.

我們預計在整個合約有效期內確認全部 380 萬美元的 RPO，合約期限通常為三年。在截至 2025 年 9 月 30 日的未來 12 個月內，根據合約承諾和預期使用模式，該公司預計將確認 380 萬美元 RPO 中的約 27% 或 100 萬美元的收入。

Given the additional insight we now have on our Q4 pipeline bookings. We also expect to grow our RPO to a range of $13million to $14 million by the end of the year. Up from the previously stated target of $12million to $13 million.

鑑於我們現在對第四季度的管道預訂量有了更多的了解。我們也預計到今年年底我們的 RPO 將成長到 1,300 萬美元至 1,400 萬美元之間。從先前提出的 1,200 萬美元目標上升至 1,300 萬美元。

While the RPO is based on contractual commitments as agreed to by our customers, the expected time to recognize revenue is based on our best estimates given the current known facts and circumstances. Of course, while our RPO is based only on minimum contractual commitment, we have reason to believe that each of these customers will eventually exceed the minimum commitment.

雖然 RPO 是基於我們客戶同意的合約承諾，但預計確認收入的時間是基於我們根據當前已知的事實和情況做出的最佳估計。當然，雖然我們的 RPO 僅基於最低合約承諾，但我們有理由相信這些客戶中的每一個最終都會超出最低承諾。

Now on to our non-GAAP results on slide 10. Adjusted EBITDA loss was $2.9 million for Q3 compared with the$ 2.1 million loss for the same period last year. For the nine-month period, adjusted EBITDA loss was $7.8 million compared with a $6.0 million loss for the same period last year.

現在讓我們來看看第 10 張投影片上的非 GAAP 結果。第三季調整後 EBITDA 虧損為 290 萬美元，而去年同期虧損為 210 萬美元。前九個月，調整後的 EBITDA 虧損為 780 萬美元，而去年同期的虧損為 600 萬美元。

The increase in EBITDA loss is primarily due to reinvestment in employees and contractors following the Q1 2023 restructuring. We also monitor and report on ARR or annual recurring revenue which is defined as the amount of recurring revenue earned during the last three months of the relevant period as determined in accordance with GAAP multiplied by four.

EBITDA 損失的增加主要是由於 2023 年第一季重組後對員工和承包商的再投資。我們也監控並報告 ARR 或年度經常性收入，其定義為根據 GAAP 確定的相關期間最後三個月內獲得的經常性收入金額乘以四。

The amount of ARR as of Q3 increased to $1 million compared to $0.2 million of ARR as of Q3 last year. Turning to bARR or booked annual recurring revenue, which is the projected amount of annual recurring revenue we believe will be earned under contracted orders. Looking at 18 months from the date of signing of each customer contract.

截至第三季的 ARR 金額增加至 100 萬美元，而去年第三季的 ARR 金額為 20 萬美元。談到 bARR 或已預訂年度經常性收入，這是我們認為根據合約訂單將獲得的預計年度經常性收入金額。從與每位客戶簽訂合約之日起計算，為期 18 個月。

The gross amount of bARR signed in the third quarter of 2024 was $1.15 million, up from $1.02 million of gross bARR a year ago. The gross amount of bARRs signed in Q3 also increased quarter over quarter from the gross bARR of$ 0.6 million signed in Q2. Our Q3 bARR included expansion in telecommunications and retail technology use cases.

2024 年第三季簽署的 bARR 總金額為 115 萬美元，高於一年前的 102 萬美元。第三季簽署的 bARR 總額也較第二季簽署的 60 萬美元 bARR 總額較上季增加。我們的第三季 bARR 包括電信和零售技術用例的擴展。

Net bARR which reflects the deduction of bARR contracts previously included in reported bARR that was subject to attrition during the quarter was approximately $0 compared to $1 million of net bARR signed in the third quarter of 2023.

淨 bARR 反映了先前包含在報告的 bARR 中的 bARR 合約的扣除額，該合約在本季度​​遭受了人員流失，約為 0 美元，而 2023 年第三季度簽署的淨 bARR 為 100 萬美元。

The reduction from gross to net bARR in Q3 is due to the impact of certain customers that have delayed their Go Live and expected usage. As previously explained during our first quarter earnings call bARR comprises two components which we refer to as cARR and UAC, cARR or committed annual recurring revenue represents the total annual customer contractual commitment through fixed license fees and minimum usage commitments.

第三季總 bARR 降至淨 bARR 是由於某些客戶推遲了上線和預期使用的影響。正如我們在第一季財報電話會議上所解釋的那樣，bARR 由兩個部分組成，我們稱之為 cARR 和 UAC，cARR 或承諾年度經常性收入代表透過固定許可費和最低使用承諾達成的年度客戶合約承諾總額。

These commitments are directly recognized as revenue in each contract year after the customer goes live with the service. Q3, 2024 cARR represents $0.61 million, approximately 53% of reported bARR. UAC or estimated usage above commitment is an estimate of annual customer usage that will exceed contractual commitments.

客戶開始使用服務後，這些承諾將在每個合約年度直接確認為收入。2024 年第三季的 cARR 為 61 萬美元，約佔報告的 bARR 的 53%。UAC 或超出承諾的預期使用量是超出合約承諾的年度客戶使用量的估計。

The Q3 2024, UAC represents the remaining $0.54 million or 47% of reported bARR. Turning to our revenue growth stages on slide 11. As we work to build a sustainable recurring revenue stream, we continually review our progress through the following revenue growth stages.

2024 年第三季度，UAC 佔剩餘的 54 萬美元或報告的 bARR 的 47%。第 11 頁介紹我們的收入成長階段。當我們努力建立可持續的經常性收入來源時，我們會透過以下收入成長階段不斷檢視我們的進展。

The first milestone we use to monitor our growth is bookings as measured by bARR, For the nine-month period in 2024 we realized the total gross bARR of $1.88 million approximately a 48% increase over the same period in 2023.

我們用來監控成長的第一個里程碑是以 bARR 衡量的預訂量，在 2024 年的九個月期間，我們實現了總 bARR 為 188 萬美元，比 2023 年同期成長約 48%。

Regarding our customer financial commitment, we monitor our revenue performance obligation or our RPO as I detailed earlier as at the end of the quarter, we've secured over $3.8 million in RPO. A $1.9 million increase over the RPO secured by the end of Q3 2023.

關於我們的客戶財務承諾，我們監控我們的收入履行義務或我們的 RPO，正如我之前詳細介紹的那樣，截至本季度末，我們已獲得超過 380 萬美元的 RPO。比 2023 年第三季末獲得的 RPO 增加了 190 萬美元。

Our third reporting metric is revenue recognizing in accordance with GAAP. Our year-to-date revenue of $687,000 grew substantially over the same period in 2023. And as our customer contracts mature, we will increase our focus and monitoring on customer retention and expansion.

我們的第三個報告指標是根據 GAAP 確認的收入。我們今年迄今的營收為 687,000 美元，與 2023 年同期相比大幅成長。隨著我們的客戶合約日趨成熟，我們將加大對客戶保留和拓展的關注和監控。

Key efforts will include refining our sales and support methodologies to deepen our customer relationships and increase the value added by our services through continued usage growth, use case expansion renewals and the sale of new relevant products.

主要努力包括改進我們的銷售和支援方法，以加深我們的客戶關係，並透過持續的使用成長、用例擴展更新和新相關產品的銷售來增加我們服務的附加價值。

Looking at our full year targets and guidance for 2024 on slide 12. As Rohn mentioned, while we were pleased to see our usage graph showing up in Q3, we were expecting to see this ramp sooner. As a result, a portion of the revenue anticipated in 2024 will be shifted out of the year which has impacted our full year guidance.

第 12 頁是我們對 2024 年的全年目標和指導。正如 Rohn 所提到的，雖然我們很高興看到我們的使用圖表在第三季度出現，但我們預計會更快地看到這一增長。因此，預計 2024 年的部分收入將轉移出該年，這影響了我們的全年預期。

Considering these delayed customer Go Live and adjustments to their volume expectations for the full year 2024 we now expect revenue in the range of $800,000 to $900,000 based on the contracts we have in place. And as we continue to monitor our customer implementation throughout the rest of the year. While not the 7x year over year growth originally expected it a signed contract. This would still represent a 4x year over year revenue growth.

考慮到這些客戶上線延遲以及對他們 2024 年全年銷售預期的調整，根據我們現有的合同，我們現在預計收入在 80 萬至 90 萬美元之間。我們將在今年剩餘時間內繼續監控客戶的實施情況。雖然不是最初預期的年增率7倍，但是這是一份簽署的合約。這仍然代表著營收年增 4 倍。

Looking to book ARR, our sales pipeline grew in the third quarter to over $33 million based on this robust growth and then projected close date as well as the large customer contract announced earlier this week. We remain committed to our previously stated target of $9 million in bARR for 2024 which represents a 3x year over year bookings growth.

從 ARR 來看，基於這一強勁的增長勢頭以及預計的截止日期以及本週早些時候宣布的大型客戶合同，我們的銷售渠道在第三季度增長至 3300 萬美元以上。我們仍致力於實現先前設定的 2024 年 bARR 達到 900 萬美元的目標，這代表預訂量年增 3 倍。

And as I mentioned earlier, we also now expect to grow our RPO to a range of $13million to $14 million. Up from the previously stated target of $12million to $13 million.

正如我之前提到的，我們現在也希望將我們的 RPO 成長到 1300 萬美元到 1400 萬美元的範圍。從先前提出的 1,200 萬美元目標上升至 1,300 萬美元。

With that operator, we would now like to open up for questions.

有了這個接線員，我們現在想開始提問。

(Operator Instructions)

（操作員指令）

Ricky Solomon, Wilmot Advisors.

所羅門（Ricky Solomon），威爾莫特顧問公司（Wilmot Advisors）。

Hey, Rohn. Congrats on the on the order from India. Could you expand upon that a little? And then I have a couple of follow ups

嘿，羅恩。恭喜您收到來自印度的訂單。能稍微詳細說明一下嗎？然後我還有一些後續問題

To much of keeping the privacy of the customer, but certainly it is a partner in India that is focused on generation AI coding and coding development. So what does that mean? Basically, they're a platform that will basically act like thousands and thousands of human developers and now utilizing a generation AI platform to do that coding and, and probably [1/4] of the time.

在很大程度上保護了客戶的隱私，但它肯定是印度專注於產生人工智慧編碼和編碼開發的合作夥伴。那麼這意味著什麼？基本上，它們是一個平台，其行為基本上像成千上萬的人類開發人員一樣，現在利用一代人工智慧平台來進行編碼，並且大概只花費 [1/4] 的時間。

Those applications that are being coded predominantly in the region of India and beyond are being shipped with user name, password as the default cyber security protocol. And the partnership really puts in place that off ID will be the default OEM security provider for all those applications.

那些主要在印度地區及其他地區編碼的應用程式都以使用者名稱和密碼作為預設的網路安全協定。此次合作真正確立了 Off ID 將成為所有這些應用程式的預設 OEM 安全提供者。

So it's a fantastic partnership in that we'll be able to ship biometrics as a default application to all their customers and clients throughout India and that entire region. So we're very excited about the partnership looking forward to doing that and bringing in and delivering for those customers.

因此，這是一個非常棒的合作夥伴關係，我們將能夠將生物辨識技術作為預設應用程式發送給印度及整個地區的所有客戶。因此，我們對此次合作感到非常興奮，期待能夠為這些客戶帶來並交付產品。

Okay. I was wondering if you could help me understand a couple of things. Number one, so it's great that you brought on new customers and you're bringing them on faster. But then I'm trying to understand why the revenue guidance for Q4, which is implied in your annual guidance is flat again, given that new customers are going live.

好的。我想知道您是否可以幫助我理解一些事情。第一，您能夠吸引新客戶，並且吸引速度更快，這非常好。但是，我想理解為什麼考慮到新客戶即將上線，你們年度指引中暗示的第四季營收指引再次持平。

And then also, the $1.1 million debooking of bARR, this bARR represents revenue 18 months out. I'm trying to understand, I mean, they went -- they're going live slower. Does that mean that revenue is now further than 18 months out or does that mean that you didn't estimate the usage properly? I just want to understand that better.

另外，110 萬美元的 bARR 取消預訂，這個 bARR 代表 18 個月後的收入。我試著去理解，我的意思是，他們的生活節奏越來越慢了。這是否意味著收入現在已經超過 18 個月了，還是意味著您沒有正確估計使用情況？我只是想更好地理解這一點。

So I'll take that first part and I'll ask you to jump in on the second part. Essentially like for the delay, our delays and Go Live occur for various reasons. We are focused on supporting the customers and helping them Go Live and sometimes they have some issues. And so we're really focused on preserving that relationship as opposed to enforcing and ruining the partnership relationship as opposed to focusing on getting those customers live.

因此，我將討論第一部分，然後請您參與第二部分。本質上就像延遲一樣，我們的延遲和上線是由於各種原因而發生的。我們專注於支援客戶並幫助他們上線，有時他們會遇到一些問題。因此，我們真正注重的是維護這種關係，而不是強化和破壞合作關係，而不是專注於讓這些客戶活下去。

So if they see delays. We're going to try to work with that customer and work through those delays because once we do get them live, we can start to realize that volume. As I said earlier, we believe will ultimately receive all that expected revenue in 2025 instead of 2024 essentially the ramp and getting them live just started happening here in Q3.

所以如果他們看到延誤。我們將嘗試與該客戶合作並解決這些延遲問題，因為一旦我們讓他們上線，我們就可以開始實現這一數量。正如我之前所說，我們相信最終將在 2025 年而不是 2024 年獲得所有預期收入，本質上來說，成長和上線是在第三季才剛剛開始的。

So all that good news I see in terms of those improvements to came a little but later and then thus the ramping started happening in Q3. So this is why we're reducing the guidance is because we basically ran out of runway. The Go Lives obviously delay and impact the accounting treatment of our revenue.

所以，我看到的所有關於這些改進的好消息都來得晚一些，然後才在第三季開始出現成長。所以這就是我們減少指導的原因，因為我們基本上已經沒有跑道了。Go Lives 顯然會延遲並影響我們收入的會計處理。

So unfortunately, that's just the result of this. We don't expect this to be a trend though to continue in the future. In terms of how we're doing this as a business, I'm really pleased with the usage ramp showing up. I mean, if you saw on that chart, we are drastically improving the number of transactions per product over the course of the period will be over the last six months and over the last year.

不幸的是，這只是結果而已。但我們並不認為這種趨勢會在未來持續下去。就我們作為一家企業如何進行這項工作而言，我對使用率的提升感到非常滿意。我的意思是，如果你從圖表上看到，我們在過去六個月和去年的期間內大幅提高了每件產品的交易數量。

And even jumping from Q2 to Q3, we're still seeing double digit growth on both product side on usage. So from a investor perspective or from a customer perspective, you want to see adoption and you want to see that growth happening again.

即使從第二季到第三季度，我們仍然看到產品使用量都呈現兩位數的成長。因此，從投資者的角度或客戶的角度來看，您希望看到採用，並且希望看到這種成長再次發生。

Unfortunately, for us, it came a little delayed but as we sign more clients, ramping customers and ramping revenue and also RPO projections. And you have more of those to sample against that will allow us to be much more consistent in our estimates.

不幸的是，對我們來說，它有點延遲了，但隨著我們簽下更多客戶，客戶數量和收入以及 RPO 預測的增加。而且，我們還有更多樣本可供參考，這將使我們的估算結果更加一致。

One of the things that we take a lot of pride in or what we're trying to do to make sure that we're very accurate in this is that we are working with our clients to make sure that they have their teams ready and their resources and their projects aligned. Sometimes we sign a customer, they're ready to Go Live and then some other major priority comes up.

我們非常自豪的事情之一或說，為了確保我們在這方面非常準確，我們正在努力與客戶合作，以確保他們的團隊做好準備並且他們的資源和專案保持一致。有時我們會簽約一個客戶，他們已準備好上線，但隨後又出現了一些其他重要的優先事項。

And now instead of being a prior number two or priority number three, we get shifted out three months or two months where they don't have resources. So we're also -- we're taking the steps to make sure that their plan is aligned with our plan.

現在，我們不再是先前的第二號人物或第三號優先事項，而是被轉移到沒有資源的地區三個月或兩個月。因此我們也正在採取措施確保他們的計劃與我們的計劃保持一致。

And then secondarily, we're making sure that we as a technology team and our own people are in place and our technology in place to help make sure that the product is integrated a lot faster. So there's just a couple of re remediation that we're doing to make sure that we can make this more consistent.

其次，我們要確保我們作為一個技術團隊，我們自己的人員到位，我們的技術到位，以幫助確保產品更快整合。因此，我們正在進行一些補救措施，以確保我們能夠使其更加一致。

And you do want to take the second part of that question.

您確實想回答該問題的第二部分。

Sure. Yes. Ricky, Rhon, I think that what you said all covers a lot of what I would have answered. I would just add that as for the bARR point at the end that we do measure bARR with our expectation of 18 months from contract signing.

當然。是的。Ricky、Rhon，我想你們所說的已經涵蓋了我要回答的許多問題。我只想補充一點，至於最後的 bARR 點，我們確實根據簽訂合約後 18 個月的預期來衡量 bARR。

So in this case of a delayed Go Live, exactly to your point, we reduced the bARR associated with that in the net bARR to reflect the fact that revenue ramp will likely happen after 18 months from signing. However, we do still have the customer, and we do are working diligently to get them fully ramped as Rhon just described. And we do definitely will be working to drive to the original bARR and beyond, although it is not reflected in the net bARR number for that reason.

因此，在這種延遲上線的情況下，正如您所說，我們減少了與淨 bARR 相關的 bARR，以反映收入增長很可能在簽署後 18 個月發生的事實。然而，我們仍然有客戶，而且我們正在努力讓他們全面投入生產，正如 Rhon 剛剛描述的那樣。我們肯定會努力達到原始的 bARR 甚至更高，儘管出於這個原因，它不會反映在淨 bARR 數字中。

Okay. Thank you.

好的。謝謝。

(Operator Instructions)

（操作員指令）

Gary Brode, Deep Knowledge Investing.

布羅德 (Gary Brode)，深度知識投資。

Thank you. Hey guys, I've got a couple questions about the guidance you've given here. You kept the bARR number for the year, the guidance at $9 million. If I look at slide 11 in the presentation, it looks like your bARR for the first three quarters of the year was just under $2 million.

謝謝。嘿夥計們，我對你們在這裡給出的指導有幾個問題。您保留了今年的 bARR 數字，即 900 萬美元的指導價。如果我看簡報中的第 11 張投影片，看起來您今年前三個季度的 bARR 略低於 200 萬美元。

And then if I go to slide 8, where you lay out the bARR for the new $10 million contract, we add that up that looks like about $15 million. So you sign this, it looks like $15 million bar contract plus another almost $2 million. Why is the bARR number for this year? Are you looking for $9 million? To me, it looks like it should be $17 million if it were just where you were plus the new customer.

然後，如果我轉到第 8 張幻燈片，其中列出了新的 1000 萬美元合約的 bARR，我們將其加起來看起來約為 1500 萬美元。所以你簽署這份合同，它看起來像是 1500 萬美元的酒吧合約加上另外近 200 萬美元。今年的 bARR 數字為什麼是這個？您在尋找 900 萬美元嗎？對我來說，如果只是您所在的位置加上新客戶，那麼收入就應該是 1700 萬美元。

Yes. Rhon, I can take this one. Gary, nice to hear from you. Thanks for the question. I will just clarify the calculation on the $10 million contract. I think that might help here. So for the $10 million of RPO that we discussed in the deal that was announced earlier this week, over a three year period, that's $3.3 million per year in cARR.

是的。羅恩，我可以接受這個。加里，很高興收到你的來信。謝謝你的提問。我只是想澄清一下 1000 萬美元合約的計算。我認為這可能會有幫助。因此，對於我們在本週早些時候宣布的交易中討論的 1000 萬美元 RPO，在三年內，這相當於每年 330 萬美元的 cARR。

So the UAC on that deal would be another $3.3 million per year for a total of $6.6 million in bARR. So contract cARR of $3.3 million, UAC is about double that, $3.3 million for a total of $6.6 million. Adding that $6.6 million of bARR to the $1.9 million in Q3 year-to-date bARR leaves us with $8.5 million of bARR if you just added those two together. We do have the pipeline that we believe will at least close the remaining $500,000 gap and get us to $9 million bARR for 2024.

因此，該交易的 UAC 將為每年另外 330 萬美元，總計 660 萬美元的 bARR。因此合約 cARR 為 330 萬美元，UAC 大約是該數字的兩倍，為 330 萬美元，總計 660 萬美元。將 660 萬美元的 bARR 添加到今年第三季迄今為止的 190 萬美元 bARR 中，如果將兩者相加，則 bARR 為 850 萬美元。我們確實有渠道，我們相信這至少可以彌補剩餘的 50 萬美元缺口，並使我們在 2024 年達到 900 萬美元的 bARR。

Got it. Okay. So you were going off the max number, not the total number. That makes sense. The other question I have for you is a little bit of a follow-up from what Ricky was asking. But the last couple of quarters, you've had large increases in revenue as you've started to onboard customers and that started to ramp.

知道了。好的。因此，您要考慮的是最大數量，而不是總數。這很有道理。我要問您的另一個問題是 Ricky 所問問題的一個小後續。但最近幾個季度，隨著您開始接納客戶，收入開始大幅增加。

Given that you had that book of business that was building, and I understand you had delays implementing some of this business in the third quarter. Okay. Got it. But why would revenue be coming down in both the third and fourth quarter? Because that's what happened and then what you're guiding to.

鑑於您正在建立該業務賬簿，而且我了解到您在第三季度實施部分業務時有所推遲。好的。知道了。但為什麼第三季和第四季的營收都會下降？因為這就是發生的事情，也是你所引導的事情。

Why is the existing business not at least going forward? And then whatever delayed implementations you had in the second and third quarter, we'd start to see that in the fourth quarter, right? Or what am I missing?

為什麼現有業務至少沒有進展？那麼，無論您在第二季和第三季延遲了什麼實施，我們都會在第四季開始看到它，對嗎？或者我遺漏了什麼？

Yeah, I can take that one as well, Rhon. So yes, our RPO is based on the contractual commitments by each of our customers. In select situations, including customers with delayed volume ramp, we may opt to give a customer a concession in the best interest of the company that would reduce our RPO and retain the customer that benefit from their usage as they grow.

是的，我也可以接受這個，Rhon。是的，我們的 RPO 是基於每個客戶的合約承諾。在某些情況下，包括客戶的數量成長延遲，我們可能會選擇向客戶做出讓步，以符合公司的最佳利益，從而降低我們的 RPO 並留住能夠隨著公司發展而從使用中受益的客戶。

So that really, actually, I should say the delay in the Go Live of the customer is causing us to make a concession in the sense of modifying a contract to move it out to future years.And by extending the term by one year, we'll reduce the revenue recognized over the remaining period of the contract, the extended period of the contract.

所以實際上，我應該說客戶上線的延遲導致我們做出讓步，即修改合約將其推遲到未來幾年。

And the result of that mechanically from one quarter to the next would be a reduction in the run rate for that customer, which is why we're seeing the revenue go down just between Q3 and Q4. However, with our expected ramp and exceeding of those minimums as well as new customers coming online, we do expect that to continue to turn in the other direction.

而這種現象的機械後果是，從一個季度到下一個季度，該客戶的運作率就會降低，這就是為什麼我們看到第三季和第四季之間的收入下降。然而，隨著我們預期的成長和超過這些最低限度以及新客戶的上線，我們確實預計這種情況將繼續向另一個方向轉變。

Okay. Got it. Thank you.

好的。知道了。謝謝。

Ricky Solomon, Wilmot Advisors.

所羅門（Ricky Solomon），威爾莫特顧問公司（Wilmot Advisors）。

Yeah. So can you talk about some of the types of customers and use cases that you're looking at in terms of your pipeline? I like to look forward a little bit and understand where you think the business is going and what type of customers are using -- are going to be using the product.

是的。那麼，您能談談您在通路方面正在關注的一些客戶類型和用例嗎？我喜歡稍微展望一下，了解你認為業務的發展方向以及什麼類型的客戶正在使用——將會使用該產品。

I'll share as much as I can with you. Obviously, the pipeline is the names are obviously private, but I'll talk about just in general the types of customers and client. We are focused predominantly in the financial services sector. We just came off of money 2020 just recently. And our technology and our core team really focuses on financial services. So that's really the core of where we're applying our pipeline.

我會盡可能地與你們分享。顯然，管道的名稱顯然是私密的，但我只會一般性地談論客戶和客戶的類型。我們主要關注金融服務領域。我們剛剛擺脫 2020 年財務困境。我們的技術和核心團隊真正專注於金融服務。所以這其實是我們應用管道的核心。

We do have additional major verticals outside that pipeline that are not financial services, retail management, hotels, casinos, healthcare. And I already said it the retail technology and also Telco, we just signed Telco this quarter as well, for that we had a press release.

除了金融服務、零售管理、酒店、賭場和醫療保健之外，我們還有其他主要的垂直行業。我已經說過了，零售技術和電信技術，我們本季也剛簽署了電信技術協議，為此我們發布了一份新聞稿。

But these, the pipeline is predominant in financial services, the banks, those large payments institutions and we're in POCs with those organizations now and we're hoping that's what's going to drive the bigger opportunities here through 2025.

但這些，通路主要在金融服務，銀行，那些大型支付機構，我們現在與這些組織處於 POC 狀態，我們希望這將在 2025 年之前推動更大的機會。

Okay, thank you.

好的，謝謝。

[Deane Chedterquist].

[迪恩·切特奎斯特]。

Hi Rohn. Congratulations on the new contract. Could you give us some color on the financial capacity of the Indian firm that is obligated under the terms of the $10 million minimum commitment contract.

你好，羅恩。恭喜新合約簽訂。您能否向我們介紹一下根據 1000 萬美元最低承諾合約條款承擔義務的印度公司的財務能力？

I cannot unfortunately.

不幸的是我不能。

Okay. I just was wondering not the entity, just the financial capacity if there is color.

好的。我只是想知道，不是實體，而是財務能力是否有顏色。

Graham or Ed, what can you share?

格雷厄姆或艾德，您可以分享什麼？

We certainly believe they're capable of being able to pay this amount of money, if that's the question. It is a multimillion dollar organization. It's a multimillion dollar organization.

如果這是問題的話，我們當然相信他們有能力支付這筆錢。這是一個價值數百萬美元的組織。這是一個價值數百萬美元的組織。

Okay. That's all I wanted to Know.

好的。這就是我想知道的一切。

(Operator Instructions)

（操作員指令）

Rhon, while we're waiting for another question in case there is one, do you want to talk a little bit more about the two key people that we've added. You talked about Donna and Eric very briefly, talk a little bit more about what you expect them to bring to the organization?

羅恩，我們正在等待另一個問題，以防萬一有另一個問題，你想再談談我們增加的兩個關鍵人物嗎？您簡要地談到了唐娜和埃里克，能否再談談您希望他們為組織帶來什麼？

Well as the announcement for the $10 million contract with that partner. As you can see, partnerships are very important to offer these business. I've been talking about this for almost a year now where in order for the business to start to see accelerated growth in my previous company, we use partnerships to add 262 customers a quarter at that type of speed and that type of scale. So the way authID is going to scale is through that partnership program.

以及與該合作夥伴簽訂的價值 1000 萬美元的合約的公告。正如您所看到的，合作夥伴關係對於開展這些業務非常重要。我已經談論這個問題近一年了，為了讓業務開始看到加速成長，在我之前的公司，我們利用合作夥伴關係以這樣的速度和規模每季增加 262 個客戶。因此，authID 的擴展方式是透過合作夥伴計劃。

So with Donna Shawhan on board, we finally have a dedicated expert on the partnership leadership front, as opposed to all of us were we're working through that leader -- we're working through that partnership, focus together and now we have a dedicated leader that's going to focus on that. So her job and her responsibility is to not only extrapolate the $10 million commit out of that partnership, but like I had alluded to and what our bar numbers are talking about is we're actually looking to do more than that usage UAC and go above and beyond.

因此，隨著唐娜·肖漢 (Donna Shawhan) 的加入，我們終於在合作夥伴領導方面擁有了一位專門的專家，而不是像以前那樣所有人都通過這位領導者來開展工作——我們通過這種合作夥伴關係開展工作，共同關注，現在我們有了一位專注於此的專門領導者。因此，她的工作和責任不僅是從該合作夥伴關係中推斷出 1000 萬美元的承諾，而且如我所提到的，我們的酒吧數字所談論的是，我們實際上希望做的不僅僅是使用 UAC 並超越這一點。

So the way we do that is, obviously through the partnership channel and that's what Donna's expertise is in. And then Eric Akre on that front, who we added to the organization is a financial services expert. We worked with him in the past, he works on the big fat 100 financial services deals specifically.

因此，我們這樣做的方式顯然是透過合作管道，而這正是唐娜的專長所在。然後，我們加入組織中的 Eric Akre 是一位金融服務專家。我們過去曾與他合作過，他專門負責 100 項大型金融服務交易。

And in short period of time from his bringing on board, he has brought in new financial services customers for us to go with the POCs with our proof of concepts with. So those two additions, we're very strategic for us. We've been waiting for the opportunity to pick up people like that. Obviously authID had to get to a point of success where we could demonstrate we can close small deals, big deals for us to track them. And luckily we did that and we've been able to add them to the team.

在他加入後的短時間內，他為我們帶來了新的金融服務客戶，並為我們提供了 POC 和概念驗證。因此，這兩項補充對我們來說具有重要的戰略意義。我們一直在等待機會招募這樣的人才。顯然，authID 必須達到一定的成功程度，才能證明我們可以完成小交易和大交易，以便我們可以追蹤它們。幸運的是，我們做到了這一點，並且能夠將他們添加到團隊中。

Great.

偉大的。

Thank you.

謝謝。

I will now turn the call back over to Mr. Daguro for the closing remarks.

現在我將把發言權交還給達黑羅先生，請他作最後發言。

All right. Thank you everybody for listening to the call today. We look very, we look forward to speaking with you when we report our fourth quarter full year, 2024 results in 2025. Thank you again for joining us.

好的。感謝大家今天聆聽電話會議。我們非常期待在 2025 年報告 2024 年第四季全年業績時與您交談。再次感謝您的加入我們。

Ladies and gentlemen, that concludes today's call. Thank you all for joining you. May now disconnect.

女士們、先生們，今天的電話會議到此結束。感謝大家的加入。現在可以編輯。