Beam Global (BEEM) 2022 Q4 法說會逐字稿

Good day and welcome to the Beam Global year-end 2022 financial results and conference update conference call. (Operator Instructions)

美好的一天，歡迎來到 Beam Global 2022 年年底財務業績和會議更新電話會議。 （操作員說明）

I would now like to turn the conference over to Kathy McDermott, CFO. Please go ahead.

我現在想將會議轉交給首席財務官 Kathy McDermott。請繼續。

Great. Thank you very much. Good afternoon and thank you for participating in Beam Global's 2022 year-end conference call. We appreciate you joining us today to hear and update on our business. Joining me is Desmond Wheatley, President, CEO, and Chairman of Beam. Desmond will be providing an update on recent activities of Beam. And also, following that will be a question-and-answer session.

偉大的。非常感謝。下午好，感謝您參加 Beam Global 的 2022 年年終電話會議。感謝您今天加入我們，了解我們的業務並了解最新情況。和我一起的是 Beam 總裁、首席執行官兼董事長 Desmond Wheatley。 Desmond 將提供有關 Beam 近期活動的最新信息。而且，接下來將是一個問答環節。

But first, I'd like to communicate to you that during this call, management will be making forward-looking statements, including statements that address Beam's expectations for future performance or operational results. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in Beam's most recently filed Form 10-K and other periodic reports filed with the SEC.

但首先，我想告訴你，在這次電話會議中，管理層將發表前瞻性陳述，包括闡述 Beam 對未來業績或運營結果的預期的陳述。前瞻性陳述涉及可能導致實際結果與這些陳述存在重大差異的風險和其他因素。有關這些風險的更多信息，請參閱 Beam 最近向 SEC 提交的 10-K 表格和其他定期報告中描述的風險因素。

The content of this call contains time-sensitive information that is accurate only as of today, March 29, 2023. Except as required by law, Beam disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

本次電話會議的內容包含時效性信息，截至今天，即 2023 年 3 月 29 日，這些信息都是準確的。除法律要求外，Beam 不承擔任何公開更新或修改任何信息以反映本次電話會議後發生的事件或情況的義務.

Next, I would like to provide an overview of our financial results for Beam's fourth quarter and year-ended December 31, 2022. Revenues for the fourth fiscal quarter of 2022 set a new record to the company of $7.9 million, 126% increase over $3.5 million reported in Q4 of 2021. Revenues for the year ended December 31, 2022 were record $22 million, 144% increase over $9 million reported in the same period of 2021.

接下來，我想概述一下我們截至 2022 年 12 月 31 日的第四季度和全年的財務業績。2022 年第四財季的收入為公司創下了 790 萬美元的新紀錄，比 3.5 美元增長了 126%百萬報告在 2021 年第四季度。截至 2022 年 12 月 31 日止年度的收入達到創紀錄的 2200 萬美元，比 2021 年同期報告的 900 萬美元增長 144%。

The increase in revenue was driven primarily by increased sales to Federal, state, and local customers, which is benefited from Federal and state funding program, as well as our GSA contract, which streamlines the contracting process. Revenues have also increased to enterprise customers for fleets and workplace charging. And we also recorded revenues of $5.2 million for our energy storage business from our recent acquisition of AllCell Technologies.

收入的增長主要是由於對聯邦、州和地方客戶的銷售增加，這得益於聯邦和州的資助計劃，以及我們簡化了合同流程的 GSA 合同。企業客戶的車隊和工作場所充電收入也有所增加。我們還從最近收購 AllCell Technologies 的儲能業務中獲得了 520 萬美元的收入。

Gross loss for the quarter ended December 31, 2022 was $0.7 million, or 9% of sales, compared to $0.3 million, or 10% of sales, in the same quarter of the prior year. Gross loss for the year ended December 31, 2022 was $1.7 million, or 8% of sales, compared to $1 million, or 11% of sales in the same period of the prior year.

截至 2022 年 12 月 31 日止季度的毛虧損為 70 萬美元，佔銷售額的 9%，上年同期為 30 萬美元，佔銷售額的 10%。截至 2022 年 12 月 31 日止年度的毛虧損為 170 萬美元，佔銷售額的 8%，上年同期為 100 萬美元，佔銷售額的 11%。

As a percentage of sales, the gross loss is improving primarily due to increased production levels, which resulted in favorable fixed overhead absorption and improved labor efficiency in spite of an increase in material costs for steel and other components due to supply chain shortages and other inflationary pressures, and a $0.8 million increase for non-cash intangible amortization related to purchased assets from the AllCell acquisition.

作為銷售額的百分比，總虧損正在改善，這主要是由於生產水平提高，這導致有利的固定管理費用吸收和勞動效率提高，儘管由於供應鏈短缺和其他通貨膨脹導致鋼鐵和其他部件的材料成本增加壓力，以及與從 AllCell 收購中購買的資產相關的非現金無形攤銷增加 80 萬美元。

Operating expenses were $7.1 million for the fourth quarter of 2022 compared to $1.7 million for the same period in the prior year. Operating expenses for the year ended December 31, 2022 were $18 million compared to $5.6 million for the same period of the prior year.

2022 年第四季度的運營費用為 710 萬美元，而去年同期為 170 萬美元。截至 2022 年 12 月 31 日止年度的運營費用為 1800 萬美元，上年同期為 560 萬美元。

The 2022 increases were primarily due to a $5.5 million non-cash increase in the fair value of contingent consideration related to the AllCell acquisition, $3.4 million for the addition of AllCell expenses, $1.6 million for non-cash share-based compensation, $0.7 million for employee compensation, $0.6 million for legal and accounting expenses primarily related to the acquisition, and $0.5 million for sales and marketing costs to support our sales growth.

2022 年的增長主要是由於與 AllCell 收購相關的或有對價的公允價值增加 550 萬美元，增加 AllCell 費用 340 萬美元，非現金股份補償 160 萬美元，70 萬美元員工薪酬，60 萬美元用於主要與收購相關的法律和會計費用，以及 50 萬美元用於支持我們的銷售增長的銷售和營銷成本。

The net loss was $7.8 million, or $0.77 per share for the fourth quarter of 2022, compared to $2 million, or $0.22 per share for the fourth quarter of 2021. The net loss for the full-year 2022 was $19.7 million, or $1.99 per share, compared to $6.6 million, or $0.74 per share for the same period of 2021.

2022 年第四季度淨虧損為 780 萬美元，即每股虧損 0.77 美元，而 2021 年第四季度為 200 萬美元，即每股虧損 0.22 美元。2022 年全年淨虧損為 1970 萬美元，即每股虧損 1.99 美元份額，而 2021 年同期為 660 萬美元，即每股 0.74 美元。

At December 31, 2022, we had cash of $1.7 million compared to $21.9 million at December 31, 2021. The cash decrease was primarily from increases in inventory and prepayments to vendors to secure battery cells production, as well as the net loss.

截至 2022 年 12 月 31 日，我們的現金為 170 萬美元，而 2021 年 12 月 31 日為 2190 萬美元。現金減少主要是由於庫存增加和為確保電池生產而向供應商預付款，以及淨虧損。

Our working capital decreased from $24.6 million to $6.8 million from the December 31, 2021 to December 31, 2022. The decrease in working capital includes the $6.8 million (sic - see press release, "$6.7 million") increase in current liabilities for the change in fair value of non-cash contingent consideration related to the AllCell acquisition.

從 2021 年 12 月 31 日到 2022 年 12 月 31 日，我們的營運資金從 2460 萬美元減少到 680 萬美元。營運資金的減少包括 680 萬美元（原文如此——見新聞稿，“670 萬美元”）因變化而增加的流動負債與 AllCell 收購相關的非現金或有對價的公允價值。

And with that, I will turn the phone over to Desmond to provide a business update. Desmond?

有了這個，我會把電話轉給德斯蒙德提供業務更新。德斯蒙德？

Thank you, Kathy, and thanks to all of you for dialing in to listen to this '22 earnings call. Looking forward to answering your questions after I make a few comments about the fantastic year that we've just had and what it means for our future.

謝謝你，凱西，也感謝你們所有人撥入收聽這個 '22 財報電話會議。在我對我們剛剛度過的美好一年及其對我們未來的意義發表一些評論後，期待回答您的問題。

A couple of months ago, someone who I consider to be one of the best-informed analysts in our industry asked me what would be for a normal company, a very reasonable question. Should you expect 30% year-over-year growth from Beam Global? I laughed and I said, I bloody well, hope not.

幾個月前，我認為是我們行業中最有見識的分析師之一問我，對於一家普通公司來說，什麼是正常的公司，這是一個非常合理的問題。您是否應該期望 Beam Global 實現 30% 的同比增長？我笑了，我說，我他媽的很好，希望不是。

We've been growing our revenues consistently for many years. The $9 million of revenue reported in 2021 was 45% higher than the $6 million we generated in 2020. And now, we've just reported $22 million of revenue for 2022, or about 145% greater than the $9 million we reported in the prior year.

多年來，我們的收入一直在持續增長。 2021 年報告的 900 萬美元收入比我們在 2020 年產生的 600 萬美元高出 45%。現在，我們剛剛報告了 2022 年的 2200 萬美元收入，比我們之前報告的 900 萬美元高出約 145%年。

At the beginning of the fourth quarter in 2022, we publish a contracted backlog of not far of 300% of the full-year revenues we were just reported for 2022. So said another way, starting back in 2020, $6 million in revenue, $9 million in 2021, $22 million in 2022, and about three times that much in reported firm contracted purchase orders as of the beginning of the fourth quarter of last year.

在 2022 年第四季度初，我們公佈了合同積壓訂單，占我們剛剛報告的 2022 年全年收入的 300%。換句話說，從 2020 年開始，600 萬美元的收入，9 美元2021 年為 2000 萬美元，2022 年為 2200 萬美元，大約是去年第四季度初報告的公司合同採購訂單的三倍。

The $60-plus million in backlog we reported in the fourth quarter, by no means, tells the full story of the 2022 growth in sales. Actually, our fantastic sales team secured over $76 million of purchase orders in 2022, which was a 548% year-over-year increase over 2021. And 2021 had already been 130% increase in new purchase orders over 2020.

我們在第四季度報告的 60 多萬美元的積壓訂單絕不能說明 2022 年銷售額增長的全部情況。實際上，我們出色的銷售團隊在 2022 年獲得了超過 7600 萬美元的採購訂單，比 2021 年同比增長 548%。而 2021 年的新採購訂單已經比 2020 年增長了 130%。

We sold over 800 EV ARC systems in 2022, which is more than all the EV ARC systems we've sold prior in the 10 years that we've be making the product. In each of 2022's four quarters, the value of the purchase orders we sold was more than 100% greater than the same fourth quarter in the prior year. And in fact, in one of those quarters, we had an increase of 913% over the same period prior year.

我們在 2022 年售出了 800 多個 EV ARC 系統，這比我們在生產該產品的 10 年裡售出的所有 EV ARC 系統都多。在 2022 年的四個季度中，我們售出的採購訂單價值均比去年同期增長 100% 以上。事實上，在其中一個季度，我們比去年同期增長了 913%。

We had a 300% year-over-year increase in purchase orders of greater than $1 million per purchase order, dollars that is. We had an across-the-board reduction in the amount of time it took us to go from initial customer inquiry to a closed purchase order. So we're closing these deals faster, more urgency.

我們的採購訂單同比增長 300%，每個採購訂單超過 100 萬美元，即美元。我們全面減少了從最初的客戶查詢到完成採購訂單所需的時間。因此，我們正在更快、更緊迫地完成這些交易。

In 2022, we made the largest, the second largest, and the third largest sales in our history. 367 EV ARC systems to US Army through partner TechFlow, 140 systems to Department of Veterans Affairs, and 71 systems to our largest municipal customer, New York City. This is the fourth or fifth order we received from New York City, and by far, the largest so far.

2022 年，我們實現了歷史上最大、第二和第三大銷售額。 367 個 EV ARC 系統通過合作夥伴 TechFlow 提供給美國陸軍，140 個系統提供給退伍軍人事務部，71 個系統提供給我們最大的市政客戶紐約市。這是我們從紐約市收到的第四或第五份訂單，也是迄今為止最大的訂單。

Our previous largest purchase order -- or our rather fourth largest, was a 52-system order from California's Office of Emergency Services. But then the fifth largest also came in 2022 as well, a 41-unit order from the Department of Homeland Security.

我們之前最大的採購訂單——或者說我們的第四大採購訂單是來自加州緊急服務辦公室的 52 系統訂單。但隨後第五大訂單也出現在 2022 年，這是來自國土安全部的 41 台訂單。

There certainly was a lot of government purchasing activity at Beam Global last year. We received the orders across all sectors of government, municipal, county, state, and Federal.

去年 Beam Global 肯定有很多政府採購活動。我們收到了政府、市、縣、州和聯邦所有部門的訂單。

Interestingly, we received over $7 million worth of purchase orders from extensions for both our Federal and California contracts. A word of explanation on this. We have a GSA, or general services administration contract in place with the federal government, and we have a DGS, or Department of General Services contract in place with the State of California.

有趣的是，我們收到了價值超過 700 萬美元的來自聯邦和加利福尼亞州合同延期的採購訂單。對此有一點解釋。我們與聯邦政府簽訂了 GSA 或一般服務管理合同，並且我們與加利福尼亞州簽訂了 DGS 或一般服務部合同。

Now, normally, when you have a federal contract, only federal entities can take advantage of it. And similarly, if you have a contract with state of California, it's generally only available to government entities in California. But because of our EV-charging infrastructures products, continue to operate during blackouts and brownouts, their designated disaster preparedness assets.

現在，通常情況下，當您擁有聯邦合同時，只有聯邦實體才能利用它。同樣，如果您與加利福尼亞州簽訂了合同，它通常只適用於加利福尼亞州的政府實體。但由於我們的 EV 充電基礎設施產品，在停電和限電期間繼續運行，這是他們指定的災難準備資產。

Because of this, the federal government allows this contracting vehicle with Beam Global to be used by any government entity in the United States that sites emergency preparedness as a reason for acquiring our products.

因此，聯邦政府允許美國任何政府實體使用與 Beam Global 簽訂合同的工具，這些實體將應急準備作為購買我們產品的理由。

The state of California also allows other government entities to use the contract we renewed with them in 2022, or actually it was a new contract, but have return to another new contract with them. These perks, which arise from the fantastic value and unique nature of our product offerings, may not sound very impactful and pursuing.

加利福尼亞州還允許其他政府實體使用我們在 2022 年與他們續籤的合同，或者實際上這是一份新合同，但又與他們重新簽訂了另一份新合同。這些福利源於我們產品的超值價值和獨特性，聽起來可能不是很有影響力和追求。

But when you realize that just about any government entity across the United States can now buy our products without going into any competitive, time-consuming, arduous processes at a time when there's nothing but increasing urgency to deploy EV-charging infrastructure, you can perhaps grasp why we work so hard to put these types of contracts into place.

但是，當你意識到美國各地幾乎所有政府實體現在都可以購買我們的產品，而無需進入任何競爭、耗時、艱鉅的過程，而此時部署電動汽車充電基礎設施的緊迫性越來越大，你或許可以了解為什麼我們如此努力地制定這些類型的合同。

The proof of the pudding is that the federal and California contract extensions amounted for almost 10% of our sales in 2022. So yes, government contracts were a significant contributor to the fantastic growth we saw during the year, but actually, only made up 65% of our total revenues.

布丁的證明是，聯邦和加利福尼亞州的合同延期占我們 2022 年銷售額的近 10%。所以，是的，政府合同是我們在這一年看到的驚人增長的重要貢獻者，但實際上，只佔 65%我們總收入的百分比。

Fully 35% of 2022 revenues came from non-government commercial customers. I would not say that we've seen a full return to pre-COVID revenue percentage mix between government and commercial. But the approximately 1,200% year-over-year growth in commercial sales is certainly getting us back to close to where we were before COVID shut down almost all of our commercial business. Don't forget that even with that reduction in opportunities, we still managed to grow our revenues during those very trying periods.

2022 年 35% 的收入來自非政府商業客戶。我不會說我們已經看到政府和商業之間的收入百分比完全恢復到 COVID 之前的比例。但商業銷售額約 1,200% 的同比增長無疑使我們回到了 COVID 關閉幾乎所有商業業務之前的水平。不要忘記，即使機會減少了，我們仍然設法在那些非常艱難的時期增加了收入。

I've long been saying that while government tailwinds are important to our business and indeed to the electrification of transportation in general, I believe that in the end, this will be a consumer-led revolution. The very rapid return of commercial orders that we saw in 2022 certainly does not dampen my enthusiasm for that conviction.

長期以來，我一直在說，雖然政府的順風對我們的業務很重要，實際上對總體交通運輸電氣化也很重要，但我相信最終這將是一場以消費者為主導的革命。我們在 2022 年看到的商業訂單的快速回歸當然不會削弱我對這一信念的熱情。

And the fact that one or two of our recent commercial wins are with just a sort of customer that I believe might one day, potentially, become a sponsor of one of our driving on Sunshine networks makes me even happier to see this return, and continues my belief that we might, at some point, crack that elusive nut.

事實上，我們最近的一兩個商業勝利只是與一種客戶有關，我相信有一天，有可能成為我們在 Sunshine 網絡上的一個驅動程序的讚助商，這讓我更高興看到這種回報，並繼續我相信我們可能會在某個時候破解那個難以捉摸的堅果。

I'm not aware of any other company in our industry, or in any industry for that matter, that can match our growth in sales. And yet one of two of our last year cheerful followers delight in entertaining me with their doom-and-gloom predictions about our future, oh, how you've grown your sales for five years in a row and you've gotten some huge purchase orders from fantastic customer, says the unhappy soothsayer. But you'll probably never sell anything ever again.

我不知道我們行業或任何行業中的任何其他公司可以與我們的銷售額增長相匹配。然而，我們去年有兩個快樂的追隨者中的一個很高興用他們對我們未來的悲觀預測來取悅我，哦，你是如何連續五年增加銷售額並且你已經獲得了一些巨大的購買量來自出色客戶的訂單，不開心的占卜者說。但你可能永遠不會再賣任何東西了。

Well, I don't have a crystal ball with which to combat such a fantastical and insupportable prediction, but I do have the closest thing that Beam Global has to own, our pipeline report and a pretty damn accurate crystal ball it's turned out to Beam.

好吧，我沒有水晶球可以用來對抗如此荒誕和無法支持的預測，但我確實擁有 Beam Global 必須擁有的最接近的東西，我們的管道報告和一個非常準確的水晶球，結果證明是 Beam .

On January 1, 2022, Beam Global pipeline was valued at just over $80 million. We then brought in over $76 million of purchase orders in 2022. And that is a fantastic pipeline to backlog conversion ratio by anybody's standards. In 40 years of business, I've never seen anything like it.

2022 年 1 月 1 日，Beam Global 管道的估值剛剛超過 8000 萬美元。然後，我們在 2022 年帶來了超過 7600 萬美元的採購訂單。按照任何人的標準，這是一個極好的積壓轉換率管道。在 40 年的業務中，我從未見過這樣的事情。

Now, if you follow all doom-and-glooms prediction, then we all could've had something less than $5 million left remaining in the pipeline at the end of the year. In fact, our pipeline at December 31, 2022 was approximately $120 million. That means that the sales team took an $8 million for $80 million pipeline, converted $76 million of it into backlog, and then built it back up to over $120 million before the end of the year. And they're working more effectively and enthusiastically, in my opinion, than any time in our history.

現在，如果你遵循所有悲觀的預測，那麼到年底我們所有人都可能只剩下不到 500 萬美元的資金。事實上，我們在 2022 年 12 月 31 日的管道約為 1.2 億美元。這意味著銷售團隊從 8000 萬美元的管道中獲得了 800 萬美元，將其中的 7600 萬美元轉化為積壓訂單，然後在年底前將其恢復到超過 1.2 億美元。在我看來，他們比我們歷史上任何時候都更有效、更熱情地工作。

So much for doom and gloom. The fact is that by any reasonable metric, our sales are growing, and not only they're growing, but that growth is accelerating. As true for the smaller one- and two-unit orders, which are actually becoming less and less common. And it's also true for the very much larger orders with price tags in the millions of dollars. I can see no end in sight to this trend, and in fact, anticipate that continuing and accelerating further for the next couple of decades.

厄運和憂鬱就這麼多了。事實是，按照任何合理的衡量標準，我們的銷售額都在增長，而且不僅在增長，而且還在加速增長。對於較小的單件和兩件訂單也是如此，它們實際上變得越來越不常見。對於標價數百萬美元的大得多的訂單也是如此。我認為這種趨勢沒有盡頭，事實上，預計在接下來的幾十年裡這種趨勢會繼續並進一步加速。

Even our existing large contract vehicles are evolving to further streamline our ability to sell our products. For example, our federal general services administration contract is now accompanied by a blanket purchase authority, or BPA, issued to us in 2022, which adds even more efficiencies to the federal purchasing process. The state of California, with whom we've had a contract in place for many years, issued us a new one in 2022, but with an expanded scope, adding more of our products. So it was already approved for contract for us.

甚至我們現有的大型合同工具也在不斷發展，以進一步簡化我們銷售產品的能力。例如，我們的聯邦總務管理合同現在附有 2022 年頒發給我們的一攬子採購授權 (BPA)，這進一步提高了聯邦採購流程的效率。與我們簽訂多年合同的加利福尼亞州在 2022 年向我們簽發了一份新合同，但范圍擴大了，增加了我們的更多產品。所以它已經被批准為我們簽訂合同。

We make an infrastructure product. And as with any infrastructure solution, it's inevitable that there will be peaks and troughs in our selling cadence. But the very much larger order book that we now have will reduce choppiness in the revenue that we report, because as long as our sales continue to grow at these rates, and I see no end to that, deliveries will be governed by our ability to continue to produce ever more and more products. We truly now have a supply challenge, not a demand challenge.

我們做基礎設施產品。與任何基礎設施解決方案一樣，我們的銷售節奏不可避免地會出現高峰和低谷。但是我們現在擁有的大得多的訂單簿將減少我們報告的收入的波動，因為只要我們的銷售額繼續以這些速度增長，而且我認為這沒有盡頭，交付將取決於我們的能力繼續生產越來越多的產品。我們現在確實面臨供應挑戰，而不是需求挑戰。

So can we live up to the supply challenge? In 2021, we manufactured 119 EV ARC systems. In 2022, we manufactured 244 EV ARCs, 105% increase. In fact, in the fourth quarter of 2022, we produced 103 EV ARC systems, 115% increase more than we've -- over the prior year, and more, in fact, than we produced at any full year prior to 2021. And it wasn't very far of that full year's production, that's just in the fourth quarter.

那麼我們能否應對供應挑戰？ 2021 年，我們製造了 119 套 EV ARC 系統。 2022 年，我們生產了 244 輛 EV ARC，增長了 105%。事實上，在 2022 年第四季度，我們生產了 103 個 EV ARC 系統，比上一年增長了 115%，事實上，比我們在 2021 年之前的任何一整年生產的都多。而且這與全年的產量相差不遠，只是在第四季度。

Just as our ability to sell, our products is evolving and accelerating, so too is our ability to produce them. Beam Global's operational team has made excellent advances in adding efficiencies to our processes and streamlining product throughput in our factory.

正如我們的銷售能力一樣，我們的產品也在不斷發展和加速發展，我們的生產能力也在不斷發展。 Beam Global 的運營團隊在提高我們的流程效率和簡化我們工廠的產品吞吐量方面取得了巨大進步。

Our engineering team has been in a near constant process of refining the design to make it easier to build while reducing costs and improving quality. These processes and engineering improvements have not stopped at the factory door. We can also see their impacts at the field where we deploy them.

我們的工程團隊一直在不斷完善設計，使其更易於構建，同時降低成本並提高質量。這些流程和工程改進並沒有止步於工廠門口。我們還可以在我們部署它們的領域看到它們的影響。

In 2020, it took two human beings to deploy a single EV ARC. By 2021, we cut that to one person. And then in 2022, we improved upon that again. Through the addition of improved equipment, improved processes, and improved engineering, a single operator is now able to deploy to EV ARC systems, each of which can support as many as six EV chargers.

2020 年，需要兩個人才能部署一個 EV ARC。到 2021 年，我們將其減少到一個人。然後在 2022 年，我們再次對此進行了改進。通過添加改進的設備、改進的流程和改進的工程，單個操作員現在能夠部署到 EV ARC 系統，每個系統可以支持多達六個 EV 充電器。

As a beautiful and very informative video on the EV ARC product section of our website, which shows you exactly how we do this, I encourage you to watch that video. Everyone who does is left with a greatly enhanced appreciation of the tremendous and unique value that Beam Global brings to the EV charging industry.

我們網站的 EV ARC 產品部分有一段精美且信息豐富的視頻，它向您展示了我們是如何做到這一點的，我鼓勵您觀看該視頻。每個這樣做的人都會大大增強對 Beam Global 為電動汽車充電行業帶來的巨大而獨特的價值的認識。

Simply no competitor can come close to the speed and elegance with which our products provide infrastructure to support our customers' EV charging needs. We're deploying any quality brand, EV charger. And often more one of them, including popular brands like ChargePoint, Blink, Electrify America, are now in less than the time it takes to write a scope of work for a contractor to start digging up your asphalt.

我們的產品提供基礎設施來支持客戶的 EV 充電需求，速度和優雅是任何競爭對手都無法比擬的。我們正在部署任何優質品牌的 EV 充電器。而且通常還有更多的公司，包括 ChargePoint、Blink、Electrify America 等流行品牌，現在用不到為承包商編寫工作範圍所需的時間來開始挖掘您的瀝青。

Having produced 2.5 times more EV ARCs in 2022 than we did in 2021, we're now continuing to dramatically enhance our production capabilities because, of course, as I've already mentioned, we have about three times more units currently under contract than we produced in all of 2022. And our sales team continues to be highly active.

我們在 2022 年生產的 EV ARC 是 2021 年的 2.5 倍，現在我們正在繼續大幅提高我們的生產能力，因為當然，正如我已經提到的，我們目前簽訂合同的單位數量是我們的三倍左右2022 年全年生產。我們的銷售團隊繼續保持高度活躍。

More or less since our inception, our gross profits have been negatively impacted by fixed overhead allocations imposed as a result of us having facilities, which are capable of producing far more product than we were actually selling. This has been especially true in the last few years since we moved to our 53,000 square foot facility just north of San Diego.

自我們成立以來，或多或少，我們的毛利潤受到了固定間接費用分配的負面影響，因為我們擁有設施，這些設施能夠生產比我們實際銷售的產品多得多的產品。自從我們搬到位於聖地亞哥以北的 53,000 平方英尺的工廠以來，這在過去幾年尤其如此。

Carrying that overhead burden would have been a very bad idea if we were in a flat or declining business. But as completely the opposite is the case. The fact that we have a great deal of excess capacity in our facility, now it seems like a very good idea. I always felt it was that's why I did it, and now very glad to have the gross numbers to support my conviction.

如果我們的業務停滯不前或衰退，那麼承擔這種間接負擔將是一個非常糟糕的主意。但事實恰恰相反。事實上，我們的設施中有大量過剩產能，現在看來是個好主意。我一直覺得這就是我這樣做的原因，現在很高興有總數來支持我的信念。

Analyzing the various constraints or bottlenecks, which might impact our full capacity, shows us that there are one or two choke points. The most obvious of those is that we have six final assembly workstations within which our teams pulled together all the components and sub-assemblies of an EV ARC into the completed product. Each of those workstations, when insufficiently stopped, is capable of producing an EV ARC in a little less than a full shift. We're constantly improving upon that, and I believe that we can do quite a bit better.

分析可能影響我們全部能力的各種約束或瓶頸，向我們表明存在一兩個瓶頸。其中最明顯的是，我們有六個總裝工作站，我們的團隊在這些工作站中將 EV ARC 的所有組件和子組件組裝成完整的產品。這些工作站中的每一個，如果沒有充分停止，都能夠在比一個完整班次少一點的時間內生產一個 EV ARC。我們正在不斷改進，我相信我們可以做得更好。

But using that cadence, we can do some simple arithmetic to ascertain what the maximum throughput could be in this facility. With all six workstations, fully staffed and operating a single shift five days a week, and discounting for all the holidays like Thanksgiving and Christmas, we produce about 1,560 units in a year. Multiply that by our current ASP regenerate just under $110 million in annual revenue. So that's one shift, five days a week.

但是使用這種節奏，我們可以做一些簡單的算術來確定這個設施的最大吞吐量是多少。所有六個工作站均配備齊全，每週工作五天，實行單班制，並為感恩節和聖誕節等所有假期提供折扣，我們每年生產約 1,560 件產品。將其乘以我們目前的平均售價，年收入將略低於 1.1 億美元。所以這是一個班次，每週五天。

Naturally, as we add shifts, we increase that throughput. Two shifts would be $220 million, and three shifts would get us about $330 million, or 4,680 systems a year. And again, that's working five days a week, and taking off all the holidays, which a normal business recognizes.

自然地，當我們增加輪班時，我們會增加吞吐量。兩班倒將是 2.2 億美元，三班倒將讓我們獲得大約 3.3 億美元，即每年 4,680 個系統。再一次，這是每週工作五天，並休假，這是正常企業認可的。

In theory, if we work three shifts seven days a week, we can produce over 6,500 systems a year. But we don't live in a theoretical world. We have to be practical, and which is why I drive my assumptions based upon approximately 4,500 units per year at full capacity.

理論上，如果我們每週 7 天實行三班制，一年可以生產 6,500 多個系統。但我們並不生活在理論世界中。我們必須切合實際，這就是為什麼我基於每年約 4,500 台滿負荷生產的假設來推動我的假設。

There are other steps we can take to accelerate our throughput, reduce costs and increase our quality. Identifying certain sub-assemblies and components, which we manufacture in-house today, that might tomorrow have produced by better equipped and more automated contract manufacturers is part of our plan for both reducing costs and increasing throughput without capital expenditure on our part. The whole team here at Beam Global believes that the EV ARC product is nearing a level of maturity and its development, which should enable us to take advantage of this opportunity.

我們還可以採取其他措施來加快吞吐量、降低成本和提高質量。確定我們今天在內部製造的某些子組件和組件，明天可能由裝備更好、自動化程度更高的合同製造商生產，這是我們降低成本和增加產量的計劃的一部分，而無需我們進行資本支出。 Beam Global 的整個團隊認為，EV ARC 產品已接近成熟和發展階段，這應該使我們能夠利用這個機會。

External supply chain constraints can also have an impact on the amount of product we produce each year. And while we can never be entirely certain about what the future will bring in this respect, all of our observations at this point are trending towards reduced risk from supply chain interruptions.

外部供應鏈限制也會對我們每年生產的產品數量產生影響。雖然我們永遠不能完全確定未來在這方面會帶來什麼，但我們目前的所有觀察都傾向於降低供應鏈中斷帶來的風險。

We regularly canvass our vendors to hear from them what they're seeing further upstream. We're successfully pushing them for cost reductions, better payments, and also assurance that we'll have access to the components and materials, which we integrate into our final product. What we're hearing across the board is that supply chain risks are reducing, and it cause, which we've seen consistently rising over the last few years, are plateauing and starting to trend down during the remainder of 2023. We're already starting to see some of those cost reductions in steel and transportation, for example.

我們定期拜訪我們的供應商，聽取他們對更上游的看法。我們成功地推動他們降低成本、改善付款，並確保我們能夠獲得我們集成到最終產品中的組件和材料。我們全面聽到的是，供應鏈風險正在降低，而我們看到過去幾年持續上升的供應鏈風險正在趨於平穩，並在 2023 年剩餘時間內開始趨於下降。我們已經例如，開始看到鋼鐵和運輸方面的一些成本降低。

Of all the vital commodities and components that are essential to the successful completion of our business -- or rather operation of our business, there's none more vital than cash. I look at cash in the same way that I look at steel or copper or battery cells or paint or electronic components, or even labor. I want to get just the right amount, as much value and quality as I can, and I want to pay as little as I need to.

在對成功完成我們的業務——或者說我們的業務運營至關重要的所有重要商品和組件中，沒有比現金更重要的了。我看待現金的方式與看待鋼鐵、銅、電池、油漆、電子元件，甚至勞動力的方式相同。我想得到恰到好處的數量，盡可能多的價值和質量，我想支付盡可能少的錢。

One thing that should be abundantly clear after looking our filings over the years that I've been running this great company is that I'm very disciplined with both cash and equity. Everyone on the team is.

多年來我一直在經營這家偉大的公司，在查看我們的文件後，應該非常清楚的一件事是，我對現金和股權都非常自律。團隊中的每個人都是。

During our earlier years, we had to manage through difficult periods when it would look low and no demand for the products, and sometimes even less cash to support us as we created a company for the future that we felt so certain would come. And that future has come, and we're going to be no less disciplined as we manage through these fantastic opportunities.

在我們早年，我們不得不度過困難時期，那時看起來很低，對產品沒有需求，有時甚至更少的現金來支持我們，因為我們創建了一家我們認為未來一定會到來的公司。那個未來已經到來，我們將在管理這些絕佳機會時更加自律。

Taking a look at our 12/31/2022 balance sheet, you'll see we had cash of about $1.7 million, but we also had $4.5 million in AR at that time. And we always get paid. We show that total current assets of $20 million made up of cash, accounts receivable, prepaid expenses, and crucially, inventory. These are all things that we convert back into cash in a generally short period of time.

看看我們 2022 年 12 月 31 日的資產負債表，您會發現我們有大約 170 萬美元的現金，但當時我們還有 450 萬美元的應收賬款。我們總是得到報酬。我們顯示總流動資產為 2000 萬美元，由現金、應收賬款、預付費用以及至關重要的存貨組成。這些都是我們在通常很短的時間內轉換回現金的所有東西。

Our total current liabilities were $13 million, but that included almost $7 million in a contingent consideration for an earn-out payment as a result of the excellent performance of the battery company we acquired last month, non-cash. Performance based earn-out payments are about as strong indication as you can get the good value of a decision to make an acquisition.

我們的流動負債總額為 1300 萬美元，但其中包括近 700 萬美元的或有對價，這是由於我們上個月收購的電池公司非現金表現出色而產生的。基於績效的贏利支付是一個強有力的跡象，因為您可以從做出收購的決定中獲得良好的價值。

But to get an accurate picture of our financial health, especially, look at the $20 million in current assets, discounted by the current liabilities, subtracting the contingent consideration, obviously risk, particularly. If you take $20 million in cash, AR, prepaid expenses, and inventory, all of which is pretty much the same as cash to us, and subtract $6 million of current liabilities derived by subtracting the $7 million contingent consideration from the $13 million, the answer you'll come up with is about $14 million of cash, or stuff that we're going to turn into cash in the next few months.

但要準確了解我們的財務狀況，尤其要查看 2000 萬美元的流動資產，減去流動負債貼現，減去或有對價，尤其是風險。如果你拿出 2000 萬美元的現金、應收賬款、預付費用和存貨，所有這些對我們來說幾乎等同於現金，然後從 1300 萬美元中減去 700 萬美元的或有對價，減去 600 萬美元的流動負債，你會想到的答案是大約 1400 萬美元的現金，或者我們將在未來幾個月內變成現金的東西。

For a different picture. Now, let's look at what this $14 million in cash means to us. Total cash used in operations during 2022 was $18.1 million as we report today, but that included $8.2 million in increased inventory, $600,000 in increased receivables, and about $800,000 in prepaid expenses and other assets, which as I've already explained, essentially equate to cash for us.

為了不同的畫面。現在，讓我們看看這 1400 萬美元的現金對我們意味著什麼。正如我們今天所報告的那樣，2022 年運營中使用的現金總額為 1810 萬美元，但其中包括 820 萬美元的庫存增加、600,000 美元的應收賬款增加以及約 800,000 美元的預付費用和其他資產，正如我已經解釋過的，這基本上等於現金給我們。

Again, doing the arithmetic for you, what I will show you is that the cash we actually burned that we spend on stuff that will not turn back into cash again during the next few months, was about $9.5 million during all of 2022. That comes to less than $2.5 million a quarter. And remember that we closed an acquisition and integrated a formerly privately held company into the Beam Global family during that time.

再一次，為您計算一下，我將向您展示的是，在接下來的幾個月裡，我們實際燒掉的現金大約是 950 萬美元，這些現金花在了我們花在未來幾個月內不會再次變現的東西上。這就是 950 萬美元。每季度不到 250 萬美元。請記住，我們在那段時間完成了一項收購，並將一家以前的私營公司整合到 Beam Global 家族中。

Thinking that, more or less $40 million in cash and stuffs that we're going to turn into cash and dividing it by the $2.3 million, which is what we actually burned during 2022, you can see that we could operate for at least six more quarters without raising capital or doing anything else. And that's if our cash burn rate remain the same.

想想，大約 4000 萬美元的現金和我們將要變成現金的東西，並將其除以 230 萬美元，這是我們在 2022 年實際消耗的，你可以看到我們至少可以再運營 6 個宿舍沒有籌集資金或做任何其他事情。那就是如果我們的現金消耗率保持不變。

This is also assuming that we get no gross margin contribution from our sales, but actually we do get a contribution margin every time we sell an EV ARC. So the more that we sell, the less we should have to rely on our current assets to cover our overheads. More on that in a minute.

這也假設我們沒有從銷售中獲得毛利率貢獻，但實際上我們每次銷售 EV ARC 時都會獲得毛利率貢獻。所以我們賣的越多，我們就越不應該依賴我們的流動資產來支付我們的管理費用。稍後會詳細介紹。

Having excellent discipline where cash and equity is concerned is, in my opinion, very important to the long-term value creation of Beam Global, for which I'm ultimately responsible. Nevertheless, it's possible to be penny wise and pound-foolish.

在我看來，在現金和股權方面保持良好的紀律對於 Beam Global 的長期價值創造非常重要，我對此負有最終責任。儘管如此，還是有可能因小失大。

We're experiencing extraordinary growth. And I don't want to allow anything to get in the way of our executing on that growth. So while it's true that with disciplined cash management, we could continue to operate and grow for the foreseeable future, I've also taken steps to make sure that we have cash available to us to accelerate and lubricate our growth.

我們正在經歷非凡的增長。而且我不想讓任何事情妨礙我們執行這種增長。因此，雖然通過嚴格的現金管理，我們確實可以在可預見的未來繼續運營和增長，但我也採取了措施確保我們有可用現金來加速和潤滑我們的增長。

Just last week, we announced a $100 million credit facility to provide the kind of flexibility that we may need to prevent lack of cash being any kind of impediment to our rapid growth. We spent a great deal of time researching debt and credit facilities and looking at other financing mechanisms which might be available to us.

就在上週，我們宣布了一項 1 億美元的信貸安排，以提供我們可能需要的靈活性，以防止缺乏現金成為我們快速增長的任何障礙。我們花了很多時間研究債務和信貸設施，並研究我們可能使用的其他融資機制。

I can say with total confidence that I know of no other financing mechanism that could come close to competing with the facility we've closed with the London-based OCI Group. As an investor myself, I know to be skeptical when reading the headlines of financing is done by others. The devil is in the details. And it always seems to be some aspect of the deal, which as an investor, one wish did not exist.

我可以完全自信地說，據我所知，沒有其他融資機制可以與我們與總部位於倫敦的 OCI 集團關閉的融資機制競爭。作為一名投資者，我知道在閱讀由他人完成融資的頭條新聞時會持懷疑態度。細節決定成敗。而且它似乎總是交易的某些方面，作為投資者，一個願望並不存在。

Well, I can tell you that the OCI $100 million credit facility is as simple and as clean as we have described it. What you see is what you get. There are no fees, no origination discounts, no underutilization penalties, no equity considerations, and no hidden gauches anywhere in the deal.

好吧，我可以告訴你，OCI 的 1 億美元信貸額度就像我們描述的那樣簡單和乾淨。你所看到的就是你得到的。沒有費用，沒有原始折扣，沒有未充分利用的罰款，沒有股權考慮，並且交易中沒有隱藏的任何地方。

If and when we deemed fit, we're able to bridge short-term cash deficiencies with this credit facility, and all we will pay is SOFR, or the secured overnight financing rate, plus 300 basis points. It's as simple as that.

如果我們認為合適，我們可以通過這種信貸安排彌補短期現金不足，我們將支付的只是 SOFR，即有擔保的隔夜融資利率，加上 300 個基點。就這麼簡單。

This was not an easy work. It took OCI and I working in good faith over four months to close this deal. As is often the case, arriving a simple and clean conclusion takes longer than signing any old agreement earlier in the process. The reason that OCI is such an excellent fit for us stems from their extensive history of identifying where the real risks lie amongst the counterparties to the sales transactions in which we will enter.

這不是一件容易的事。 OCI 和我真誠地合作了四個多月才完成這筆交易。通常情況下，得出一個簡單明了的結論比在過程的早期簽署任何舊協議要花費更長的時間。 OCI 之所以如此適合我們，是因為他們在確定我們將要參與的銷售交易的交易對手方之間的真正風險所在方面有著廣泛的歷史。

Not by accident, Beam Global has targeted the highest quality and most creditworthy customers in the world. We have an impeccable history of delivering the products that our customers have ordered, and an equally impeccable history of getting paid. Any typical funding institution would have based their underwriting decisions on Beam Global's profile and done whatever they could to leverage our need into an opportunity to take whatever they could get from us.

並非偶然，Beam Global 瞄準了全球最高質量和最有信譽的客戶。我們在交付客戶訂購的產品方面有著無可挑剔的歷史，在收款方面也同樣無可挑剔。任何典型的資助機構都會根據 Beam Global 的概況做出承銷決定，並儘其所能將我們的需求轉化為機會，從我們這裡得到他們能得到的一切。

OCI look to our technology, our history of delivering our technology, and the credit profiles of our customers. As Oliver Chapman, OCI's CEO, said in our press release last week, it's this visible combination, which enables OCI to provide us with a meaningful credit facility at pricing and terms which would normally be reserved for blue-chip entities. Stress again that we have a $100 million line of credit available to us at SOFR plus 300 basis points. There were no other hidden fees or mechanisms resulting from this facility.

OCI 關注我們的技術、我們提供技術的歷史以及我們客戶的信用狀況。正如 OCI 首席執行官奧利弗·查普曼 (Oliver Chapman) 上週在我們的新聞稿中所說，正是這種可見的組合使 OCI 能夠在通常為藍籌實體保留的定價和條款上為我們提供有意義的信貸便利。再次強調，我們有 1 億美元的 SOFR 加 300 個基點的信貸額度。該設施沒有產生其他隱藏費用或機制。

Please ask me questions during the Q&A session if this is not entirely clear to you. We'll continue to manage the cash and current assets on our balance sheet with the same high degree of discipline in care that we always have done. But we will not allow excessive prudence to slow our rate of growth. The OCI facility gives us the additional flexibility we need to free our operations teams to execute on the incredible opportunities that our sales teams are creating.

如果您不完全清楚，請在問答環節向我提問。我們將一如既往地高度謹慎地管理資產負債表上的現金和流動資產。但我們不會讓過度謹慎減慢我們的增長速度。 OCI 設施為我們提供了額外的靈活性，使我們的運營團隊能夠騰出時間來執行我們的銷售團隊正在創造的令人難以置信的機會。

Credit and discipline will always be important to us, but they alone will not make us the very profitable company that I believe we will become. Getting to profitability is, in many ways, the least mysterious aspect of our business. It's quite simple, make enough money on enough products to cover all our overhead expenses to some leftover. The more there's leftover, the better.

信用和紀律對我們來說永遠很重要，但僅靠它們並不能使我們成為我相信我們會成為的非常盈利的公司。在許多方面，實現盈利是我們業務中最不神秘的方面。這很簡單，在足夠多的產品上賺到足夠的錢來支付我們所有的管理費用和一些剩餘的費用。剩下的越多越好。

The first step in that process is, of course, gross profitability according to GAAP. But there's an essential step to get to that important milestone, and that is positive unit economics. If the variable costs associated with producing each of our products is less than the payment we receive from our customers who buy them, then we receive margin contribution from each of the units that leave our factory.

當然，該過程的第一步是根據 GAAP 計算的毛利潤率。但是要達到那個重要的里程碑還有一個重要的步驟，那就是積極的單位經濟效益。如果與生產我們每件產品相關的可變成本低於我們從購買產品的客戶那裡收到的付款，那麼我們就會從離開我們工廠的每個產品中獲得利潤貢獻。

I have reported often that our unit economics are positive. We are not a company that loses more when we sell more. We are the opposite. At a certain point, the margin contribution from the increasing volumes of products that we sell are sufficient to overcome the fixed overhead allocations, with which we must also burden our cost of goods sold. When unit economics are positive, increasing volume alone when sufficient will eventually lead to gross profitability.

我經常報告說我們的單位經濟效益是積極的。我們不是一家賣得越多虧得越多的公司。我們正好相反。在某個時候，我們銷售的產品數量增加所帶來的利潤率貢獻足以抵消固定的間接費用分配，我們還必須用它來負擔我們的銷售成本。當單位經濟效益為正時，僅在足夠的情況下增加銷量最終會帶來毛利。

Reducing variable costs such as available materials and labor hours to produce the product further improve gross profitability. We are doing all of these things. And the very positive result of these activities is that in the fourth quarter of 2022, our EV ARC product line actually broke even at the gross margin line.

減少生產產品的可用材料和工時等可變成本可進一步提高毛利潤率。我們正在做所有這些事情。這些活動的非常積極的結果是，在 2022 年第四季度，我們的 EV ARC 產品線實際上在毛利率線上實現了收支平衡。

A big contributor to the variable cost management for EV ARC is the fact that we're now producing our own batteries in our Chicago facilities. But we were still buying back from outside suppliers. We would have had to have absorbed all the cost increases, which inflation and supply chain constraints have exerted on the industry, not to mention their margin.

EV ARC 可變成本管理的一個重要貢獻者是我們現在在芝加哥工廠生產自己的電池。但我們仍然從外部供應商那裡回購。我們將不得不吸收所有成本增加，這是通貨膨脹和供應鏈限制對行業施加的影響，更不用說他們的利潤了。

Well, we've also experienced cost increases. Because we are making batteries ourselves, the impacts have been far less severe. Beam Global's approach to making own batteries is, as far as I'm aware, unique in the industry, and it's playing an important role in our increasingly improved profitability.

好吧，我們也經歷了成本增加。因為我們自己製造電池，所以影響遠沒有那麼嚴重。據我所知，Beam Global 自己製造電池的方法在業內是獨一無二的，它在我們不斷提高的盈利能力中發揮著重要作用。

Our full-year gross margin for 2022 came in at about negative 7.5%, which is a 3.5% continued improvement over 2021 gross. Remember that we've improved our gross profit even in the face of the most inflationary environment that had existed in the United States for over 40 years and without increasing our prices. We face significant increasing costs of almost every material and component that we buy. This is true for all the products in our portfolio, whether they're energy storage or EV-charging products.

我們 2022 年的全年毛利率約為負 7.5%，比 2021 年的毛利率持續提高 3.5%。請記住，即使面對美國 40 多年來最嚴重的通貨膨脹環境，我們也提高了毛利潤，而且我們沒有提高價格。我們購買的幾乎所有材料和組件都面臨著成本顯著增加的問題。我們產品組合中的所有產品都是如此，無論是儲能產品還是電動汽車充電產品。

As I've already noted, we've experienced significant increases in the cost of components that go into our batteries, and yet they have still contributed to significant cost savings over the non-Beam Global auctions.

正如我已經指出的那樣，我們已經經歷了電池組件成本的顯著增加，但與非 Beam Global 拍賣相比，它們仍然有助於顯著節省成本。

It's also important to note that about $839,000 reported in our copper dollars -- reported in our cost of goods sold was actually depreciation and amortization of intangible assets related to our acquisition last year, and not actually directly part of the variable costs associated within our products.

同樣重要的是要注意，我們的銅美元報告的大約 839,000 美元 - 在我們的銷售成本中報告的實際上是與我們去年收購相關的無形資產的折舊和攤銷，而不是我們產品相關可變成本的直接部分.

Removing these non-cash items from our cost of goods sold mix, our growth -- takes our gross loss from 7.5% to about 3.5%. The 3.5% pro forma gross loss backing out the non-cash items, shows a pro forma gross profit improvement of over 7% when viewed against our 2021 results. Remember that this improvement has come a time, again, when we've seen nothing but cost increases across the board and materials and components we buy.

從我們的銷售成本組合中刪除這些非現金項目，我們的增長 - 使我們的毛虧損從 7.5% 降至約 3.5%。與我們 2021 年的業績相比，非現金項目的 3.5% 備考毛虧損顯示備考毛利潤提高了 7% 以上。請記住，這種改進再次出現，我們只看到全面的成本增加以及我們購買的材料和組件。

The improvements in gross profitability have come as a result of increased volumes, offsetting our fixed overhead, as well as efficiency and engineering improvements, attract revenue per employee and revenue per labor hour. And I'm seeing very distinct improvement in these metrics. I can sum this up by just saying that we are getting very much better at what we do.

毛利潤率的提高是由於銷量增加，抵消了我們的固定管理費用，以及效率和工程改進，吸引了每名員工的收入和每工時的收入。我看到這些指標有了非常明顯的改進。我可以通過說我們在我們所做的事情上做得更好來總結這一點。

Another particularly graphic example of this is that we're producing about 10 times more kilowatt hours of batteries today than the company we acquired was in the month before it became part of Beam Global. We're in the same buildings and paying the same rent. And while we have increased headcount to accommodate our growth, we've not done so at anywhere near the same rate that we've increased revenues and productivity.

另一個特別生動的例子是，我們今天生產的電池千瓦時是我們收購的公司成為 Beam Global 的一部分之前一個月的大約 10 倍。我們在同一棟樓裡，付同樣的租金。雖然我們增加了員工人數以適應我們的增長，但我們這樣做的速度並沒有與我們增加收入和生產力的速度相提並論。

Nowhere is this more true than when comparing revenues to overhead employees where the growth has been even more pronounced, demonstrating the level of operating leverage that we have.

將收入與增長更為明顯的管理人員進行比較時，這一點最為真實，證明了我們擁有的運營槓桿水平。

Our actual operating expenses are much lower than we've reported when we take out about $8.4 million of non-cash items, such as the contingent consideration for the earn-out and some stock options and other non-cash items that are removed for comparison's sake. Removing these non-cash items, again for comparison's sake, takes our operating expenses from 82% of revenue to 44%, and also demonstrates almost 20% of improvement over 2021 results.

我們的實際運營費用遠低於我們在扣除約 840 萬美元的非現金項目時所報告的費用，例如為進行比較而刪除的一些股票期權和其他非現金項目的或有對價清酒。再次為了比較起見，刪除這些非現金項目會使我們的運營費用從占收入的 82% 增加到 44%，並且還表明比 2021 年的業績提高了近 20%。

So as you look at growth and mix, be careful to understand that the acquisitions that we have done have added a lot of non-cash items, make the numbers look much worse than they actually are from an improving the business point of view. We need to continue to do a good job of analyzing these numbers, because I think it's very unlikely that also technology will be the last acquisition that we make on the country, and actively seeking opportunities to continue our inorganic growth while we knock it out of the park with organic growth.

因此，當您查看增長和組合時，請注意了解我們所做的收購增加了很多非現金項目，從改善業務的角度來看，這些數字看起來比實際情況要差得多。我們需要繼續做好分析這些數字的工作，因為我認為技術也不太可能成為我們在該國進行的最後一次收購，並積極尋找機會繼續我們的無機增長，同時我們將其淘汰有機增長的公園。

Buying this battery company and integrating it into Beam Global has been an excellent move for us on many levels. We've already discussed the significant savings that we've experienced as a result of not having to buy batteries from outside providers. But there are so many other positive aspects of this transaction.

收購這家電池公司並將其整合到 Beam Global 對我們來說在許多層面上都是一個極好的舉措。我們已經討論了由於不必從外部供應商處購買電池而帶來的顯著節省。但這筆交易還有許多其他積極方面。

Part of the integration has meant combining our marketing efforts and investing in more energy storage salespeople. We received over $8 million of energy storage orders during 2022. And our team did an excellent job of growing a new piece of our business while ramping up to supply all of our internal needs for batteries, again, 10 times more kilowatt hours than when we bought them.

整合的一部分意味著結合我們的營銷工作並投資於更多的儲能銷售人員。我們在 2022 年收到了超過 800 萬美元的儲能訂單。我們的團隊在發展我們的新業務方面做得非常出色，同時又增加了我們對電池的所有內部需求，同樣，千瓦時比我們之前多了 10 倍買了它們。

The integration of the teams, which is never an easy thing after an acquisition, has gone very well. In fact, we have engineers from Chicago in our San Diego office this week, and the sharing of knowledge and experience and expertise across all the many areas of both our battery and EV-charging infrastructure products has already contributed significantly to material improvement.

收購後的團隊整合從來都不是一件容易的事，但進展順利。事實上，本週我們的聖地亞哥辦公室有來自芝加哥的工程師，我們在電池和電動汽車充電基礎設施產品的所有領域分享知識、經驗和專業知識，已經為材料改進做出了重大貢獻。

We ball also to reduce our costs, increase our revenues, defend our supply chain, and increase barrier entry for the competition. And we've seen quantifiable results in each of these areas over the last year. I will continue to look for other opportunities where I can acquire talent, technology, complementary offerings, and most especially for me at the moment, geographic expansion.

我們還努力降低成本，增加收入，保護我們的供應鏈，並增加競爭壁壘。去年，我們在這些領域中的每一個領域都看到了可量化的結果。我將繼續尋找其他機會，在那裡我可以獲得人才、技術、互補產品，尤其是目前對我來說最重要的是地域擴張。

One of the benefits of closing the OCI credit facility is that we now have a major European forward-thinking fund involved in our success. I've already stated how important I think the credit facility will be for us, but I also believe that having a strong and well-connected ally in Europe is going to be very helpful for us.

關閉 OCI 信貸安排的好處之一是，我們現在有一個主要的歐洲前瞻性基金參與我們的成功。我已經說過我認為信貸機制對我們有多麼重要，但我也相信在歐洲擁有一個強大且人脈廣泛的盟友將對我們非常有幫助。

I've visited Europe several times over the last couple of quarters and I continue to feel enthusiastic about our opportunities to expand into the largest automotive market in the world, where I believe that our products may experience even more rapid growth and adoption than they are in the United States. I can tell you that I've already had discussions with OCI management, which go beyond the nuts and bolts of the credit facility.

在過去的幾個季度裡，我多次訪問歐洲，我仍然對我們進入世界上最大的汽車市場的機會充滿熱情，我相信我們的產品可能會經歷比現在更快的增長和採用在美國。我可以告訴你，我已經與 OCI 管理層進行了討論，討論超出了信貸機制的具體細節。

Europe is not the only international market, which I believe holds prominent for us. I'm also looking at opportunities in other region, which I think could provide meaningful growth opportunities. And these activities are processes. They're not single events. They take time and a lot of work get it to be done correctly.

歐洲不是唯一的國際市場，我認為這對我們來說很重要。我也在尋找其他地區的機會，我認為這可以提供有意義的增長機會。這些活動是過程。它們不是單一事件。他們需要時間和大量工作才能正確完成。

Some would have been rushed into closing on the first opportunity, which is presented to me. I will not do that. I will continue to seek out only opportunities and transactions, which makes the best long-term sense for Beam Global, our shareholders, our customers, and our employees.

有些人會在第一次機會出現時匆匆忙忙地結束，這是呈現給我的。我不會這麼做。我將繼續只尋找機會和交易，這對 Beam Global、我們的股東、我們的客戶和我們的員工具有最佳的長期意義。

The Beam team has consistently shown that it can hit even the most aggressive goals it sets itself. I'm determined that international expansion will be another example of our succeeding. Apart of doing future acquisitions, right will mean balancing the use of cash versus equity when negotiating the deal.

Beam 團隊一直表明，它甚至可以實現自己設定的最激進的目標。我堅信國際擴張將是我們成功的另一個例子。除了進行未來的收購外，正確的做法還意味著在談判交易時平衡現金與股權的使用。

The AllCell transaction was a purely stock-based deal, and I believe it's worked out very well for Beam Global's shareholders, as well as for the sellers of AllCell. This is the way that these things are supposed to work. I'll endeavor to achieve win-wins with any transaction that I work through.

AllCell 交易是一項純粹基於股票的交易，我相信它對 Beam Global 的股東以及 AllCell 的賣家都非常有利。這就是這些東西應該工作的方式。我將努力通過我完成的任何交易實現雙贏。

There may be instances where it makes sense to use cash or equity, or a combination of cash and equity. In either event, there will likely be some element of dilution. This is where our fantastic and historic discipline with equity issuance becomes even more of a trump card.

在某些情況下，使用現金或股權，或現金和股權的組合是有意義的。無論哪種情況，都可能存在稀釋因素。這就是我們在股票發行方面的奇妙和歷史紀律變得更加王牌的地方。

The fact that we have about 10 times less shares outstanding than any public company that can be described as a peer, means that we are -- we'll be able to grow our company using equity, adding market cap, revenues, barrier to entry, geographic expansion, whatever else we might get from an expansion, while still having a far lower number of shares outstanding than our peers.

事實上，我們的已發行股票比任何可被描述為同行的上市公司少大約 10 倍，這意味著我們 - 我們將能夠利用股權、增加市值、收入、進入壁壘來發展我們的公司，地理擴張，我們可能從擴張中得到的任何其他東西，同時仍然擁有比我們的同行少得多的流通股數量。

If you are afraid of dilution, don't be. My job is not to maintain or increase your percentage holdings in Beam Global; that's your job. My job is to increase the value of the shares that you hold. And if I and the Board, and all the other experts in our sphere agree that issuing equity to accelerate the growth of the company will increase shareholder value, then you can bet that I'll do it.

如果您害怕稀釋，請不要。我的工作不是維持或增加您在 Beam Global 的持股比例；那是你的工作。我的工作是增加您持有的股票的價值。如果我和董事會以及我們領域內的所有其他專家都同意發行股票以加速公司的發展將增加股東價值，那麼你可以打賭我會這樣做。

We're entering a period of extraordinary growth in the industry which we target. The electrification of transportation and energy storage are just at the very beginnings of what will be, in my opinion, decades of growth. Just look at all the fantastic new electric vehicles, which are hitting the market. Just look at all the regulations and investments made by governments around the world.

我們正在進入我們目標行業的非凡增長時期。在我看來，交通運輸和儲能的電氣化才剛剛開始，這將是未來數十年的增長。只要看看正在投放市場的所有出色的新型電動汽車就知道了。看看世界各國政府制定的所有法規和投資就知道了。

Just look at the ever-increasing numbers of alarming reports from bodies like the UN and others, which those governments are using to inform their investments and regulations. Think of all the robots, drones, submersibles, micro mobility, and other devices, which will need safe and energy-dense solutions like those which we now produce.

只要看看來自聯合國和其他機構的越來越多的令人震驚的報告，這些政府正在使用這些報告來告知他們的投資和監管。想想所有的機器人、無人機、潛水器、微型機動性和其他設備，它們都需要像我們現在生產的那樣安全且能量密集的解決方案。

Just think of the fact that all of Beam Global's success to date has been derived from one single market. Europe, the Middle East, and the rest of the world can benefit as well if not better from our products from the United States.

試想一下，Beam Global 迄今為止的所有成功都源於一個單一的市場。歐洲、中東和世界其他地區也可以從我們的美國產品中獲益，如果不是更好的話。

The opportunities we're seeing ahead of us are breathtaking. We will get better and better producing and delivering on our current products. We will introduce our future products like our EV standard and our new EV ARC, and all of the continued innovations I expect from our battery experts to markets, which are hungry for innovative problem-solving solutions like ours.

我們在我們面前看到的機會是驚人的。我們將越來越好地生產和交付我們當前的產品。我們將介紹我們未來的產品，如我們的 EV 標準和我們的新 EV ARC，以及我期望我們的電池專家向市場提供的所有持續創新，這些市場渴望像我們這樣的創新解決方案。

We will continue to prove -- improve our profitability, just as we have done even through this inflationary period. This is not the time to be timid about growth. This is not the time to stop investing in our future.

我們將繼續證明 - 提高我們的盈利能力，就像我們在這個通貨膨脹時期所做的那樣。現在不是對增長膽怯的時候。現在不是停止投資我們未來的時候。

We've demonstrated that we can take very little and turn it into a great deal. We've demonstrated that from tiny beginnings, we can create a meaningful platform. Now that we're standing on that platform, just imagine where we'll take it next. I'm thrilled and proud of what we've done so far, but I know that we're only just getting started.

我們已經證明，我們可以把很少的東西變成很多東西。我們已經證明，從微小的開始，我們可以創建一個有意義的平台。既然我們站在那個平台上，想像一下下一步我們將把它帶到哪裡。我為我們迄今為止所做的一切感到激動和自豪，但我知道我們才剛剛開始。

Now, it will be rude of me not to say hello to the shorters. This would be a great time for you to listen up because I'm going to summarize.

現在，如果我不向短褲打招呼，那將是不禮貌的。這是您聆聽的好時機，因為我要進行總結。

We have fantastic mass producible, patented products addressing a massive and paradigm-shifting global infrastructure build-out. We have a made-in-America products, a time when States and federal investment is bigger than it's ever been, and it's being directed more than ever at American products. We have triple-digit growth in sales and triple-digit growth in production. We're improving our profitability against the tide of inflation, and that's a tide that will turn.

我們擁有出色的可大規模生產的專利產品，可解決大規模和範式轉變的全球基礎設施建設問題。我們有美國製造的產品，這個時代各州和聯邦的投資比以往任何時候都大，而且比以往任何時候都更多地針對美國產品。我們的銷售額增長了三位數，產量增長了三位數。我們正在提高我們的盈利能力以對抗通貨膨脹的浪潮，而這種趨勢將會轉變。

We have plenty of room to grow and aggressive plans to expand in both the United States and internationally. We have no debt. We have great discipline where cash and equity is concerned, and access to a $100 million at a cheap, non-diluted, and rapidly available credit. We are executing on every front, and we have no indication that any of this is going to slow down at all, quite the opposite. It's an absolutely brilliant time to be Beam Global.

我們有足夠的發展空間和積極的計劃在美國和國際上擴張。我們沒有債務。在現金和股權方面，我們有嚴格的紀律，可以以廉價、未稀釋且可快速獲得的信貸獲得 1 億美元。我們在各個方面都在執行，而且我們沒有任何跡象表明這一切會放緩，恰恰相反。對於 Beam Global 來說，這是一個絕對輝煌的時刻。

And now, I look forward to answering your questions.

現在，我期待著回答您的問題。

(Operator Instructions) Christopher Souther, B. Riley.

（操作員說明）Christopher Souther，B. Riley。

Hi, Christopher.

嗨，克里斯托弗。

Hey, thanks for taking my question. Hey, how is it going? Maybe just starting out on the revenue visibility in the backlog. I think you mentioned about $60 million. Can you talk through the cadence of backlog delivery here that really -- just how quick you can make them. Are there any multi-year type orders in there? I know some of the programs are multiyear. I just want to get a sense of some of that backlog is multi-year.

嘿，謝謝你提出我的問題。嘿怎麼樣？也許只是從積壓中的收入可見性開始。我想你提到了大約 6000 萬美元。你能在這裡談談積壓交付的節奏嗎——你能多快地完成它們。裡面有沒有多年期的訂單？我知道有些項目是多年的。我只是想了解一些積壓工作是多年的。

Historically, there was -- backlog was maybe representative of what you were going to do in that quarter or so. And I just want to get a sense if you think you're starting to become really a backlog company, or if it's really just ramping up and returning to that one or two quarter visibility based on the backlog.

從歷史上看，積壓可能代表了你在那個季度左右要做的事情。如果你認為你開始真正成為一家積壓公司，或者它是否真的只是在增加並根據積壓恢復到一兩個季度的知名度，我只是想了解一下。

That's a great question. And frankly, I'm remiss in not addressing that in my remarks. All of the contracted backlog that we have announced, our customers want as soon as we can get it to. So there are no multi-year contracts in here. When the Army orders from us, they're not saying it's okay, we can take this over the next five years or something like that, quite the opposite.

這是一個很好的問題。坦率地說，我沒有在我的發言中解決這個問題。我們已經宣布的所有合同積壓訂單，我們的客戶希望我們盡快完成。所以這裡沒有多年合同。當陸軍向我們下達命令時，他們並沒有說沒關係，我們可以在接下來的五年或類似的時間裡接受這個，恰恰相反。

So all of the backlog we have announced, our customers want immediately. And that's why I said in my comments that we really are more supply opportunity than demand opportunity. The demand is clearly there. We just got to catch up with it.

因此，我們已經宣布的所有積壓訂單，我們的客戶立即需要。這就是為什麼我在評論中說我們確實是供應機會多於需求機會。需求顯然是存在的。我們必須趕上它。

And again, that's helpful in terms of the previously choppy nature in our revenue. It won't be like that, no. It's just going to be, build more, more, more, more. And as fast as we can turn them out, we'll get them to our customers.

再一次，這對我們收入之前不穩定的性質很有幫助。不會那樣的，不。它只會是，建造更多，更多，更多，更多。我們會盡快將它們交付給我們的客戶。

Got it. No, that's great to hear. Maybe just comment on supply chain, as well as the margin front. We appreciate all of the color on the puts and takes from 2021 to 2022. But can you give us a sense or remind us what the component cost inflation headwind was for the year.

知道了。不，很高興聽到這個消息。也許只是評論供應鏈，以及利潤率。我們欣賞 2021 年至 2022 年看跌期權和看跌期權的所有顏色。但是你能給我們一個感覺或提醒我們今年的組件成本通脹逆風是什麼嗎？

And of course, we had to offset in order to get that 7% year-over-year improvement. I'm trying to get a sense of where your incremental margins are looking with -- as we scale, and maybe what else you're seeing as far as the component cost moderation improvement and what we can do to improve the supply chain in vast order, I guess.

當然，我們必須進行抵消才能實現 7% 的同比增長。我正在嘗試了解您的增量利潤率在哪裡 - 隨著我們的規模擴大，也許您還看到了組件成本適度改善方面的其他內容以及我們可以做些什麼來改善供應鏈訂單，我猜。

Yeah. So the last time I did a bond-to-bond comparison, available-materials-to-available-materials comparison, same product, I can tell you that I was able to -- and I didn't do it, the highly detailed dive.

是的。所以上次我做了鍵對鍵的比較，可用材料對可用材料的比較，同樣的產品，我可以告訴你我能夠——但我沒有這樣做，非常詳細潛水。

But even during a not very detailed dive, I was able to identify 27% increase in costs of components and materials that we are buying. And again, I'm sure I would have found more if I'd have gone into the hundreds of smaller items that are on the bottom.

但即使在一次不太詳細的潛水中，我也能夠確定我們購買的組件和材料的成本增加了 27%。再一次，如果我仔細研究底部的數百個較小的項目，我相信我會發現更多。

27% increase in cost during the last couple of years. At the same time, you are right to point out that we have improved our gross profitability by about 7% net of non-cash items over the last year. And I forget what it was, but there's another 3% or 4% or 5% the year before that too. So you could say, putting all of this together, 27% increase in bond costs, and yet an improvement of gross profitability of somewhere over 10% at the same time.

在過去幾年中成本增加了 27%。同時，您正確地指出，去年我們的非現金項目淨利潤率提高了約 7%。我忘了它是什麼，但前一年還有 3%、4% 或 5%。所以你可以說，將所有這些加在一起，債券成本增加了 27%，但同時毛利率提高了 10% 以上。

Now that -- you don't put money; it's got to come from somewhere. If we have to spend more to make the product and yet our gross profitability is improving, all that I can tell you is that you need to combine those two things together to get a true picture of what we've done. And we come to well over 30% improvement in gross profitability just over the last couple of years.

現在——你不投入資金；它必須來自某個地方。如果我們不得不花更多的錢來製造產品，而我們的毛利潤率卻在提高，那麼我只能告訴你的是，你需要將這兩件事結合起來，才能真正了解我們所做的事情。在過去的幾年裡，我們的毛利潤率提高了 30% 以上。

Look, I don't like having a negative gross profit. I spend every waking hour working on the whole team here. They've done a brilliant job of it, clearly to extract these types of improvements during such an inflationary period and without increasing our prices. But the trend is very much with us.

看，我不喜歡負毛利。我醒著的每一個小時都在這里為整個團隊工作。他們做得非常出色，顯然在這樣一個通貨膨脹時期提取了這些類型的改進，並且沒有提高我們的價格。但趨勢與我們息息相關。

And everything we're hearing from our vendors, I guess, for example, just had our battery cell vendor in here the other day from Korea. And he told me that we will see significant cost reductions in battery cells heading into the second half of this year.

我們從我們的供應商那裡聽到的一切，我想，例如，前幾天我們的電池供應商從韓國來到這裡。他告訴我，到今年下半年，我們將看到電池成本顯著下降。

Battery sales are the single largest cost contributor to the products. Steel costs coming down, transportation costs, very much down from where they were just a year ago today. And also, some other opportunities for us to save money. We will become very profitable -- the growth profitable, profit line, and at the bottom line.

電池銷售是產品的最大單一成本來源。鋼鐵成本下降，運輸成本下降，與一年前的今天相比下降了很多。而且，我們還有其他一些省錢的機會。我們將變得非常有利可圖——增長有利可圖，利潤線和底線。

If I didn't believe that, I wouldn't be doing this. And I've had plenty of experience with it. But again, the numbers support it. We are trending towards improved profitability, even at GAAP, certainly from the unit economics are even better. And I think the important thing to take out of that call is that our EV ARC product, which is the product that derives most of the revenue, broke even in the fourth quarter -- GAAP broke even in the fourth quarter.

如果我不相信這一點，我就不會這樣做。我對此有很多經驗。但再次，數字支持它。我們正朝著提高盈利能力的方向發展，即使在 GAAP 下，當然從單位經濟學來看甚至更好。而且我認為從電話會議中得出的重要一點是，我們的 EV ARC 產品是產生大部分收入的產品，它在第四季度實現了收支平衡——根據美國通用會計準則，第四季度實現了收支平衡。

We don't segment our business [running else] like that. We have seven or eight different products that we make between that batteries and EV-charging solutions. But naturally, we look at how we're doing with each of them. And in this case, we know that we broke even according to GAAP on the EV ARC product in the fourth quarter. We do not intend to move backwards from that moving forward.

我們不會像那樣細分我們的業務[經營其他業務]。我們在電池和電動汽車充電解決方案之間製造了七八種不同的產品。但很自然地，我們會看看我們對他們每個人的處理方式。在這種情況下，我們知道我們在第四季度的 EV ARC 產品上根據 GAAP 收支平衡。我們不打算從前進的道路上倒退。

Right. I appreciate all that color. I'll hop on the queue. Thanks.

正確的。我很欣賞那種顏色。我會插隊。謝謝。

Thank you, Chris.

謝謝你，克里斯。

Tate Sullivan, Maxim Group.

泰特沙利文，馬克西姆集團。

Hi, thank you. Thank you, Jasmine.

嗨，謝謝你。謝謝你，茉莉花。

Hi, Tate.

嗨，泰特。

Hello. You mentioned growing the production of battery packs by 10 times about March of last year. Is a lot -- or a lot of those battery packs are going to your EV ARC units, sir? Can you bifurcate it a little bit?

你好。您提到去年3月左右將電池組的產量增長了10倍。很多 - 或者很多這些電池組將用於您的 EV ARC 裝置，先生？你能把它分叉一點嗎？

No, they definitely are. The team over there has done a fantastic job. I'm so proud of them and so glad that they're part of that Beam Global family now. They really have completely upped their game from where they were when we acquired them. And yes, there are no supplying all of our internal battery requirements.

不，他們絕對是。那邊的團隊做得非常出色。我為他們感到驕傲，也很高興他們現在成為 Beam Global 大家庭的一員。他們確實已經完全提升了他們在我們收購他們時的水平。是的，沒有提供我們所有的內部電池要求。

And the savings that we have received as a result of that are really very, very meaningful. That's a huge amount of money actually. The beautiful thing about this acquisition is I'm confident that we will end up paying for the company just in gross margin recapture. Never mind all the other benefits we're getting from it.

我們因此而節省下來的錢真的非常非常有意義。這其實是一筆巨款。這次收購的美妙之處在於，我相信我們最終會在毛利率收回方面為公司買單。別管我們從中得到的所有其他好處。

So yes, a huge amount of what they produce came to us for internal use. But at the same time, we can't lose sight of the fact that they sold over $8 million of battery solutions to others. Those are going into drones and robots and submersibles.

所以是的，他們生產的大量產品供我們內部使用。但與此同時，我們不能忽視他們向其他人出售了超過 800 萬美元的電池解決方案這一事實。那些正在進入無人機、機器人和潛水器。

And I got to tell you that's a side of the business I am very excited by. I don't want them just being a -- just producing batteries for us. I want Beam Global going into all these other spaces. We have a drone-recharging product, we have EV-recharging products.

我必須告訴你，這是我非常興奮的業務的一面。我不希望他們只是 - 只是為我們生產電池。我希望 Beam Global 進入所有這些其他領域。我們有無人機充電產品，我們有電動汽車充電產品。

I'm very, very strongly of the belief that there will be a tremendous increase in the use of robots of all sorts, whether their airborne, submersible, terrestrial, or just bringing you a beer from your fridge in the future.

我非常、非常堅信，各種機器人的使用將會大幅增加，無論是空中的、潛水的、陸地的，還是將來只是從冰箱裡給你拿啤酒。

I think we're going to see an awful lot of that. All of those devices are going to require energy-dense, safe, and well-packaged battery solutions. And that is what we are better, I believe, than anybody else at. So it's been a tremendous effort on their part.

我認為我們會看到很多這樣的事情。所有這些設備都需要能量密集、安全且封裝良好的電池解決方案。我相信，這就是我們比其他任何人都做得更好的地方。因此，他們付出了巨大的努力。

And we're going to have to -- look, we're going to have to expand. We have a 20,000 square foot facility in Chicago. We know we can't stay there because we need to expand. I fully intend to expand our EV-charging product manufacturing into the Midwest and expand the battery manufacturing facility into the same location some point in the future.

我們將不得不——看，我們將不得不擴大規模。我們在芝加哥擁有 20,000 平方英尺的設施。我們知道我們不能留在那裡，因為我們需要擴張。我完全打算將我們的 EV 充電產品製造擴展到中西部，並在未來某個時候將電池製造工廠擴展到同一地點。

And I also intend to expand the battery manufacturing into Southern California so that we're making the batteries for the EV-charging products that we make here right here as opposed to shipping them from Chicago. Not in any way dilutive to what Chicago doing accretive -- to what Chicago is doing.

而且我還打算將電池製造擴展到南加州，這樣我們就在這裡生產電動汽車充電產品的電池，而不是從芝加哥發貨。不會以任何方式稀釋芝加哥正在做的事情 - 芝加哥正在做的事情。

And the good news is that in the case of both of those expansions, I am led to believe that we will receive a great deal of help from the local governments in those areas. And when I say help, I mean money. And most of it non-dilutive -- or all of it non-dilutive, and certainly, most of it, we probably won't even come with the repayment term, we grant money. So lots of great opportunity there.

好消息是，在這兩次擴張的情況下，我相信我們將從這些地區的地方政府那裡得到大量幫助。當我說幫助時，我指的是錢。其中大部分是非稀釋性的——或者全部是非稀釋性的，當然，其中大部分，我們甚至可能不會提供還款期限，我們會提供資金。那裡有很多很好的機會。

Okay. And then just on the GSA contracts. You mentioned -- just clearing up, you mentioned the extension to contracts with the customers through the GSA contracts, or extend the actual GSA contracts structure? And how long does that the current GSA structure lasts for contracts, please?

好的。然後只是在 GSA 合同上。你提到過--只是清理，你提到通過 GSA 合同擴展到與客戶的合同，或者擴展實際的 GSA 合同結構？請問目前的 GSA 結構能持續多長時間？

Yes. So, to be clear, what I mean when I talk about both the GSA and the California contracts is that, again, although those are normally restricted to only -- either federal in the case of GSA or California in the case of the California contract, both of those entities have made those contracts available. In the case of the federal government, to government entities who cited disaster preparedness aspect for their purchasing decision.

是的。因此，需要明確的是，當我同時談論 GSA 和加州合同時，我的意思是，雖然這些合同通常僅限於 - 就 GSA 而言是聯邦合同，就加利福尼亞州合同而言是加利福尼亞州，這兩個實體都提供了這些合同。就聯邦政府而言，針對在其採購決策中引用了備災方面的政府實體。

And of course, that's one of the great strengths and one of the big decision factors for Army, Marine Corps, New York City, and so many others to buy our products, including a lot of corporations by the way. They want to make sure they can still charge vehicles when there are blackouts and brownouts, which are happening more often today than any time in our history. Our products are a hedge against that sort of thing and as such are reviewed as a disaster preparedness solution.

當然，這是陸軍、海軍陸戰隊、紐約市和其他許多人（包括很多公司）購買我們產品的強大優勢和重大決定因素之一。他們想確保在停電和限電情況下仍能為車輛充電，這種情況今天比我們歷史上任何時候都更頻繁。我們的產品是對沖這種事情的對沖，因此被視為災難準備解決方案。

And quite a lot of buying decisions, buying our products come from that alone, frankly. Never mind that we're much faster, lower total cost of ownership, and cleaner and greener, and everything else like that. Big part of the buying decision for many of our customers, government, and corporate, come from the fact that they know that we'll keep charging their vehicles during blackouts and brownouts.

坦率地說，很多購買決定，購買我們的產品都來自於此。不要介意我們更快、更低的總擁有成本、更清潔和更環保，以及諸如此類的一切。我們的許多客戶、政府和企業做出購買決定的很大一部分原因是他們知道我們會在停電和限電期間繼續為他們的車輛充電。

So the feds have extended their contract vehicles to anyone who has that requirement. And then California has just offered reciprocity to any other government entity across the nation that just wants to piggyback on their contract, which is fantastic. Of course, they want to support us, but they also have a mission to support the electrification of transportation.

因此，聯邦政府已將他們的合同工具擴展到任何有此要求的人。然後加州剛剛向全國任何其他政府實體提供互惠，這些政府實體只想依靠他們的合同，這太棒了。當然，他們想支持我們，但他們也有支持交通電氣化的使命。

And what this means now is that other governmental entities who don't have the resources or the time or the inclination to put together an extensive and expensive and time-consuming and frankly, risky bidding process, they don't need to now. Some small town or state or other that doesn't want to go through that contracting process does not need to. They can perfectly legally buy off the California contract or off the federal contract in the event that they have a disaster preparedness angle.

這意味著現在沒有資源、時間或意願來組織廣泛、昂貴、耗時且坦率地說有風險的投標過程的其他政府實體，他們現在不需要這樣做。一些小鎮或州或其他不想經歷該承包過程的人不需要。如果他們有備災角度，他們可以完全合法地購買加州合同或聯邦合同。

And I mean, some are pretty big. Dallas County, I think, was one of them we announced recently. They bought from us, but they bought through the federal GSA contract.

我的意思是，有些很大。我認為，達拉斯縣是我們最近宣布的其中之一。他們從我們這裡購買，但他們是通過聯邦 GSA 合同購買的。

So yeah, Dallas County is not exactly a tiny little backwater somewhere, and yet they use the GSA contract because they know it's been well negotiated. They know it's safe. And it saves them a huge amount of work. And frankly, taxpayers' dollars going through that whole process of the competitive and very time-consuming process.

所以，是的，達拉斯縣並不完全是某個地方的一個小死水，但他們使用 GSA 合同是因為他們知道這是經過良好談判的。他們知道這是安全的。這為他們節省了大量工作。坦率地說，納稅人的錢要經歷競爭激烈且非常耗時的整個過程。

Tate, there's a lot of urgency to get EV-charging infrastructure right now. Urgency is our friend of Beam Global because we're so much faster doing it in less than an hour or what others take a couple of years often to do. And so, if they can avoid going through a lengthy RFP and contracting process, just jumps straight on the GSA contract, they're going to do that, and that's very helpful for us.

泰特，現在迫切需要獲得電動汽車充電基礎設施。緊迫感是我們 Beam Global 的朋友，因為我們在不到一個小時內完成的速度非常快，而其他人通常需要幾年才能完成。因此，如果他們可以避免經歷冗長的 RFP 和合同流程，直接跳到 GSA 合同上，他們就會這樣做，這對我們非常有幫助。

Great. Thank you, Desmond.

偉大的。謝謝你，戴斯蒙德。

Thank you.

謝謝。

Craig Irwin, Roth MKM.

克雷格歐文，羅斯 MKM。

Hi, Craig.

嗨，克雷格。

Good evening. Thank you for -- hey, taking for taking my questions. So most of what I would have asked has already been covered. But there's a really interesting angle to your story that I -- you didn't cover in your prepared remarks, the carbon credit angle, right?

晚上好。謝謝你——嘿，接受我的提問。所以我想問的大部分內容都已經涵蓋了。但是你的故事有一個非常有趣的角度，我——你沒有在你準備好的發言中提到，碳信用角度，對吧？

Over the next number of years, you're going to start generating quite a few carbon credits. And there's an opportunity there to maybe monetize that. Can you maybe share with us where you are in the process of evaluating this? How this could potentially come together for you. What should we be looking for? Or is it not really a short-term priority?

在接下來的幾年裡，你將開始產生相當多的碳信用額度。並且有可能將其貨幣化的機會。您能否與我們分享您在評估過程中的進展情況？這怎麼可能會為你走到一起。我們應該尋找什麼？或者它真的不是短期優先事項？

Well, I think it's fantastic you've even identified it. And of course, you're absolutely right. The simple fact of the matter is the cost of carbon, particularly in Europe, by the way, has accelerated dramatically. I think just two years ago, it was about $21 per tonne, and it's now over $100 per tonne. And EV ARC, which is the mainstay product that we produce, generates over -- or removes over 12 metric tonnes of carbon per annum in its operations. That's a single EV ARC.

好吧，我認為你能認出它真是太棒了。當然，你是絕對正確的。事情的一個簡單事實是碳成本，特別是在歐洲，順便說一句，已經急劇增加。我想就在兩年前，它的價格約為每噸 21 美元，而現在已超過每噸 100 美元。 EV ARC 是我們生產的主要產品，每年在其運營中產生或去除超過 12 公噸的碳。那是一個單一的 EV ARC。

So if you think of just -- if you look at our backlog today, multiply that by 12 metric tonnes and then multiply that by $100 a metric tonne, you can see that this becomes a really meaningful source of money for whoever owns that EV ARC product.

因此，如果你想想——如果你看看我們今天的積壓訂單，將其乘以 12 公噸，然後乘以每公噸 100 美元，你就會發現，對於擁有 EV ARC 的人來說，這將成為一個真正有意義的資金來源產品。

Now, of course, most of the -- well, not all of the EV ARCs that we produce today are owned by others, and we've enjoyed that business model so far. But I've made no secret of the fact that at some point in the future, it's not unlikely that we own a network of these things ourselves through a sponsorship model or through some other business model. And in those instances, all of those carbon benefits will inure either to us or to whoever we want them to.

現在，當然，大部分 - 好吧，並非我們今天生產的所有 EV ARC 都歸他人所有，到目前為止，我們一直享受這種商業模式。但我毫不掩飾這樣一個事實，即在未來的某個時候，我們自己通過贊助模式或其他商業模式擁有這些東西的網絡並非不可能。在那些情況下，所有這些碳效益都將對我們或我們希望的任何人產生影響。

And there is a very significant monetary aspect to this, which has not been realized by us to date, not been reported by us today. And certainly, I do not think, before you brought it up, being recognized at all by the markets. But yes, it's very real and it's that kind of recurring revenue that I know that people are so eager to see us producing.

這其中有一個非常重要的貨幣方面，迄今為止我們還沒有意識到這一點，我們今天也沒有報導過。當然，我認為，在你提出之前，市場根本不會認可它。但是，是的，這是非常真實的，而且我知道人們非常渴望看到我們生產的那種經常性收入。

Excellent. And as a follow-up, you haven't really mentioned or focused on sponsored deployments in quite a while, at least in your public communications. Are there any developments there that you might be able to share with us? Or is this something that we still should consider maybe on the back burner while you really focus on serving demand that's already pretty intense right now?

出色的。作為後續行動，你已經有很長一段時間沒有真正提到或關注贊助部署了，至少在你的公共傳播中是這樣。您有什麼進展可以與我們分享嗎？或者，當您真正專注於滿足目前已經非常強烈的需求時，我們是否仍然應該考慮將其放在次要位置？

Thank you for recognizing the demand. It's very intensive. There's no doubt about that. People are [are running energy] a bit there. I'll tell you what, there's a brilliant energy here. There's a fantastic buzz, both here and in Chicago. Everybody feels like they're on a winning team because they are.

感謝您對需求的認可。這是非常密集的。毫無疑問。人們 [are running energy] 有點在那裡。我會告訴你什麼，這裡有一種輝煌的能量。這里和芝加哥都充滿了美妙的嗡嗡聲。每個人都覺得自己在一支獲勝的球隊中，因為他們確實是。

Look, the fact is I've been talking about the sponsorship network for some time. I am still confident that we will get it done. I've made a lot of commitments over the years since I've been running this company. And with the help of the fantastic people that I have around me, I've kept all of them, all of them, except for this damn sponsorship thing. It's the one thing, the one nut that we haven't been able to crack yet.

看，事實是我一直在談論贊助網絡有一段時間了。我仍然相信我們會完成它。自從我經營這家公司以來，這些年來我做出了很多承諾。在我周圍優秀的人的幫助下，我保留了所有的人，所有的人，除了這個該死的讚助。這是一件事，我們還沒有能夠破解的一個堅果。

I do not want to describe it as being on the back burner, because it certainly isn't for me nor is it for the superlative group, who we have working to help us sell that. And again, remember, they are working for nothing but performance-based pay. We're not paying them a retainer or anything. These guys are like the preeminent experts in the United States in selling sponsorship deals. If they think it's worth going to work in for a -- [on the comment it were]. Presumably, they've got a good feeling for this thing.

我不想將其描述為擱置一旁，因為它肯定不適合我，也不適合最高級的團隊，我們正在努力幫助我們推銷它。再一次，請記住，他們工作的目的只是基於績效的報酬。我們不會向他們支付聘用金或任何東西。這些傢伙就像美國推銷贊助協議的傑出專家。如果他們認為值得去工作 - [評論是]。想必，他們對這件事已經有了好感。

I can also tell you that I continue to talk to parties who could become sponsorship and have indeed shown an interest in doing so. It's just not closed yet. And I'm conscious of the fact that people are sick of hearing me saying that we'll get it done, and I'm not getting it done. Although, as I say, it's the only damn thing that I've committed to in the last 12 years that we have not done with the -- again, with the help of the tremendous people around me.

我還可以告訴你，我會繼續與可能成為贊助商並且確實表現出有興趣這樣做的各方交談。它只是還沒有關閉。而且我意識到人們厭倦了聽到我說我們會完成它，而我沒有完成它。雖然，正如我所說，這是我在過去 12 年中唯一承諾但我們沒有完成的該死的事情——再一次，在我周圍偉大的人的幫助下。

So I will tell you, if you're asking me, Desmond Wheatley, what I think about this. I think we do sponsorship. I think we get the recurring revenue. I think that all of these things will happen.

所以我會告訴你，如果你問我，Desmond Wheatley，我是怎麼想的。我想我們做贊助。我認為我們獲得了經常性收入。我認為所有這些事情都會發生。

The old Wall Street adage give a number or a date but don't give both. I suppose I should invoke that right now. I still firmly believe we'll get it done. I just wish I could tell you exactly when, but I can't. So we're going to keep on it because it's such a beautiful model.

古老的華爾街格言給出一個數字或一個日期，但不要同時給出兩者。我想我現在應該調用它。我仍然堅信我們會完成它。我只是希望我能告訴你確切的時間，但我不能。所以我們將繼續使用它，因為它是一個非常漂亮的模型。

I'm not surprised you're tenacious there, so good luck. We look forward to the progress. I'll hop back in the queue.

我並不驚訝你在那裡很頑強，祝你好運。我們期待進展。我會跳回到隊列中。

Thank you, Craig.

謝謝你，克雷格。

Noel Parks, Tuohy Brothers Investment Research.

Noel Parks，Tuohy Brothers 投資研究。

Hi, Noel.

嗨，諾埃爾。

Hi, good afternoon. Just had a couple of things. So I was wondering, I think in the last three months, six months in particular, there have been a number of companies offering alternative battery technologies often on the material side. And I was just wondering if any of these emerging technologies are requiring lower or alternative to lithium. Have you seen any out there that you would consider worthy of investment in either minority or acquisition? I'm just thinking about your longer-term storage portfolio.

嗨，下午好。只是有幾件事。所以我想知道，我認為在過去三個月，尤其是六個月裡，有許多公司通常在材料方面提供替代電池技術。我只是想知道這些新興技術中是否有任何一項需要更低的鋰或替代鋰。你有沒有看到任何你認為值得投資於少數股權或收購？我只是在考慮您的長期存儲組合。

Yeah. So there's -- a lot of things wrapped up in that question, Noel. First of all, we're an innovation company. And we applaud anybody out there who's innovating, particularly when it comes to the intersection of clean energy and transportation, which is where we are focusing. That's obviously a pretty massive area to focus on. But nevertheless, that's what we're focusing on.

是的。諾埃爾，這個問題包含了很多東西。首先，我們是一家創新公司。我們為任何正在創新的人鼓掌，特別是在我們關注的清潔能源和交通的交叉領域。這顯然是一個需要關注的相當大的領域。但無論如何，這就是我們關注的重點。

So the first thing I'm going to tell you is that at the moment, we believe that there are many, many years of lithium-based battery business growth ahead of us, many years. Probably 10 years in fact, before something like solid state or whatever else that comes along and really displaces that. And you don't have to take our word. You just look at the massive investment being made by all these much larger entities out there who are concentrating on that.

所以我要告訴你的第一件事是，目前，我們相信鋰電池業務的增長還有很多年，很多年。事實上，大概 10 年之後，固態或其他任何東西出現並真正取代了它。而且您不必相信我們的話。你只需看看所有這些專注於此的更大的實體所做的大量投資。

And so, I think we're certainly going to continue to improve our expertise and bring the value that we do to making lithium, particularly NMC cells, safer and more energy-dense and longer lived than they are to date, which is essentially what we do.

因此，我認為我們肯定會繼續提高我們的專業知識，並帶來我們所做的價值，使鋰，特別是 NMC 電池比迄今為止更安全、能量密度更高、壽命更長，這基本上就是我們的確是。

And then beyond that, there are some other things to think about too. Just charging and discharging a battery, in general, is going to create a thermal event, that's physics. It's not anything to do with brand or anything else like that.

除此之外，還有其他一些事情需要考慮。一般來說，只要對電池充電和放電就會產生熱事件，這就是物理學。這與品牌或其他類似的東西無關。

And so, having great thermal management solutions as we do will be a differentiator for us no matter what technology comes out frankly, because batteries like that, Goldilocks zone and they're safer if they're in a Goldilocks zone, and that's one of the things we provide for them.

因此，無論坦率地出現什麼技術，像我們這樣擁有出色的熱管理解決方案對我們來說都是一個差異化因素，因為像這樣的電池，Goldilocks zone 如果它們處於 Goldilocks zone，它們會更安全，這是其中之一我們為他們提供的東西。

To your question about whether or not we'd invest, I'm not so arrogant as to think that I should take money that people have invested in this company and reinvest it for them in that way to where we would be an outside investor. I'm going to concentrate all of my efforts on growing Beam Global.

對於你關於我們是否會投資的問題，我並沒有傲慢到認為我應該把人們投資在這家公司的錢拿走，然後以這種方式為他們再投資到我們將成為外部投資者的地方。我將集中精力發展 Beam Global。

If I see a promising technology or a solution or geographic growth or talent or any of the other things that I think will grow Beam Global, then I will invest in it. Again, with the advice of the Board -- my Board and all the experts that I'm surrounding myself with. But I don't think you should anticipate us making a third-party outside investment and some other technology at the moment. We're too busy growing our own company to worry about growing anybody else's.

如果我看到有前途的技術或解決方案或地域增長或人才或我認為將使 Beam Global 成長的任何其他事物，那麼我將對其進行投資。再一次，根據董事會的建議——我的董事會和我周圍的所有專家。但我認為你現在不應該期待我們進行第三方外部投資和其他一些技術。我們忙於發展自己的公司，無暇顧及其他人的發展。

Sure. Fair enough. I was wondering, the -- your energy storage sales, I assume this year will be full year of impact from that business line. I assume there'll be a somewhat higher percentage of total revenues in 2023. Do you have any sense of that? Any insight on that?

當然。很公平。我想知道，你的儲能銷售，我認為今年將是該業務線影響的全年。我假設到 2023 年總收入的百分比會更高一些。您對此有何看法？對此有什麼見解嗎？

I'm not going to say it will be higher percentage of our total revenues, but I believe strongly it will be higher absolute sales. And that's because we are -- we're bringing -- this is one of these perfect [marriages]. These guys have great product, great technology, great expertise.

我不會說它占我們總收入的比例會更高，但我堅信絕對銷售額會更高。那是因為我們——我們正在帶來——這是這些完美的[婚姻]之一。這些人擁有出色的產品、出色的技術和出色的專業知識。

We are definitely, though, enhancing their ability to sell and expand. That's part of the reason that they allowed themselves to be acquired by us or enjoyed being enquired by us frankly, because they were looking for ways to expand.

不過，我們肯定會增強他們的銷售和擴張能力。這就是他們允許自己被我們收購或坦率地接受我們詢問的部分原因，因為他們正在尋找擴張的方法。

So we're enhancing their selling. We're enhancing their mark -- hiring more salespeople. We're enhancing their marketing, and we are making investments that we need to make in enhancing their ability to produce.

所以我們正在加強他們的銷售。我們正在提高他們的知名度——僱用更多的銷售人員。我們正在加強他們的營銷，我們正在進行我們需要進行的投資，以提高他們的生產能力。

This is part of the reason our operating expenses have gone up this year. I know that that will raise some eyebrows, but I'm -- this is -- as I said in my closing comments, this is not a time to be churlish about investing in growth. On the contrary, we need to be really aggressive about it because we have such a good thing going.

這是我們今年運營費用上升的部分原因。我知道這會引起一些人的注意，但我——這是——正如我在結束語中所說的，現在不是對投資增長無禮的時候。相反，我們需要對此非常積極，因為我們正在做一件好事。

So they'll do a lot more, I believe, this year. But I'm not certain that the percentage of revenue will increase because of course, the percentage of revenue on the EV-charging infrastructure products side of the business is so dramatic.

所以我相信，今年他們會做更多的事情。但我不確定收入的百分比是否會增加，因為當然，業務的 EV 充電基礎設施產品方面的收入百分比是如此之大。

Right. Right. Actually, the minute you started laying it out, I was thinking that that's right. The growth on the charging side is so likely to swamp whatever trends you might have on storage -- that standalone storage, it totally makes sense.

正確的。正確的。實際上，在你開始佈局的那一刻，我就認為這是對的。充電方面的增長很可能會淹沒你在存儲方面可能擁有的任何趨勢——獨立存儲，這是完全有道理的。

And I guess just the last thing. Just wondering if there's anything else as far as greater clarification on NEVI rulemaking or the guidance that -- around IRA issues that it seems like a lot of parties are still waiting for, particularly from the IRA. Anything on the horizon with those that has crossed your radar screen during the quarter.

我想只是最後一件事。只是想知道是否還有關於 NEVI 規則制定的更多澄清或關於 IRA 問題的指導，似乎很多各方仍在等待，尤其是來自 IRA 的問題。任何在本季度已經越過你的雷達屏幕的地平線上的東西。

Yes. So I will say this, the simple answer to your question is I am certain that we will see benefits from not just NEVI, but from the other couple of billion dollars that federal government is committed to announcing EV-charging infrastructure more, to the $10 billion or so that California's putting into it, or to all the other spending that's going on.

是的。所以我要說的是，對你的問題的簡單回答是，我確信我們不僅會從 NEVI 中受益，而且還會從聯邦政府承諾宣布更多電動汽車充電基礎設施的其他數十億美元中受益，到 10 美元十億美元左右，加利福尼亞投入其中，或者所有其他正在進行的支出。

There are specifics in NEVI, which I frankly think will be really hard to execute on. So the idea of having 600 kilowatts of charging every 50 kilometer -- every 50 miles on the highways of the United States is a fantasy. The electrical grid simply doesn't exist to do that. And actually, that will be a great opportunity for us, for example, for our Solar Tree product, not so much for the EV ARC product, but for the Solar Tree products.

NEVI 中有一些細節，坦率地說，我認為執行起來非常困難。因此，在美國高速公路上每 50 公里 - 每 50 英里充電 600 千瓦的想法是一個幻想。電網根本不存在來做到這一點。實際上，這對我們來說將是一個很好的機會，例如，對於我們的 Solar Tree 產品，與其說是 EV ARC 產品，不如說是 Solar Tree 產品。

I think there may be locations where there's 300 or 450 kilowatts, but not 600 kilowatts. And we might be able to fill that last 150 kilowatts for them in a really clever way without having to do all the infrastructure build up. That's one of the -- I don't see that as necessarily this year's thing for us, but I definitely think that that will happen as they recognize some of the shortcomings in the plan as there were need to be filled by different and innovative solutions just like ours.

我認為可能有些地方有 300 或 450 千瓦，但沒有 600 千瓦。我們也許能夠以一種非常聰明的方式為他們提供最後 150 千瓦的電力，而無需建立所有的基礎設施。這是其中之一 - 我認為這對我們來說不一定是今年的事情，但我絕對認為這會發生，因為他們認識到計劃中的一些缺點，因為需要通過不同的創新解決方案來填補就像我們的一樣。

On the $2.5 billion that's going to be spent, a lot of it's going to go to disadvantaged communities, that money set aside tribal lands and all sorts of other things like that. I just don't know of a better solution than ours to do that. We've already demonstrated that, deploying at disadvantaged communities through the Electrify America deal and also through several kinds of authorities. We're very good at that.

在將要花費的 25 億美元中，其中很多將流向弱勢社區，這筆錢用於保留部落土地以及諸如此類的各種其他事情。我只是不知道有比我們更好的解決方案來做到這一點。我們已經證明了這一點，通過 Electrify America 交易以及多種權威機構在弱勢社區進行部署。我們非常擅長這一點。

We bring clean, green, driving on sunshine with no unit cost for the electricity to these environments where people are -- don't have money. And a lot of that money is going to be channeled in that direction. So I think we will do very, very well out of those things.

我們為人們所在的這些環境帶來清潔、綠色、陽光下的駕駛，沒有單位的電力成本——沒有錢。很多錢都將流向這個方向。所以我認為我們會在這些事情上做得非常非常好。

But the other thing for us to be concentrating on is this dramatic return from commercial, non-government funded type of growth. That was a really huge [number] for us to get to 35% of revenues in a year where we had such huge government growth as well.

但我們要關注的另一件事是商業、非政府資助類型的增長帶來的巨大回報。在政府也有如此巨大增長的一年裡，我們達到了 35% 的收入，這真是一個巨大的[數字]。

You can see that we're often -- so people say, are you all government? No, we aren't. 35% of our revenues came from commercial. And I think we're going to see that continuing to grow as well. And at the end of the day, I think commercial wins. This is this huge.

你可以看到我們經常 - 所以人們說，你們都是政府嗎？不，我們不是。我們 35% 的收入來自商業。而且我認為我們也會看到它繼續增長。歸根結底，我認為商業獲勝。這是這麼大。

Right, right. And I think you alluded this in your remarks. And that's really in the context of all things commercial, really, really hitting the brakes during COVID and the aftereffects of that. That's -- it's kind of the rebound from that, I believe, you referred to.

是的是的。我想你在發言中提到了這一點。這真的是在所有商業事物的背景下，真的，真的在 COVID 期間剎車以及它的後遺症。那是 - 我相信你提到的是那種反彈。

There wasn't too much workplace charging being installed when no one was going to offices anywhere in the country. And we really were impacted by that. But we're seeing it coming back with a vengeance.

當沒有人去全國任何地方的辦公室時，就不會安裝太多的工作場所充電設備。我們確實受到了影響。但我們看到它以復仇的方式捲土重來。

Great. Thanks a lot.

偉大的。多謝。

Thank you, Noel.

謝謝你，諾埃爾。

Abhi Sinha, Northland.

北部地區的阿比辛哈。

Hi, Abhi.

嗨，阿比。

Abhi Sinha

阿比辛哈

Yeah, hi. Hi, Desmond, and thanks for taking my question. Quickly wanted to ask if -- could you give us in some sense of idea of how or what percentage of your revenue in 2022 or even in your backlog is coming from repeat customers.

是的，嗨。你好，Desmond，感謝你提出我的問題。很快就想問，您是否可以讓我們了解您在 2022 年或什至在您的積壓訂單中的收入如何或占多少百分比來自回頭客。

That's a good question. Lots and lots and lots of it. So obviously, New York is the most obvious one to mention there. So we got $5.3 million purchase order from New York City. They've been buying from us since 2015, I think.

這是個好問題。很多很多很多。很明顯，紐約是最明顯的地方。所以我們從紐約市獲得了 530 萬美元的採購訂單。我認為，自 2015 年以來，他們一直在向我們購買。

And by the way, every time they make -- they give us an order, it's bigger than the last one. We love working with them and we think they're doing really great work over there.

順便說一句，每次他們給我們下訂單時，它都比上一個更大。我們喜歡和他們一起工作，我們認為他們在那裡做得非常好。

When you look at things like the Army order, you could say in a way the Army order is a repeat order because it came through the GSA contract. So it's all coming through the same contracting vehicle.

當您查看陸軍訂單之類的東西時，您可以說陸軍訂單是重複訂單，因為它是通過 GSA 合同獲得的。所以這一切都來自同一個承包工具。

I don't think that's fair. We have contracts like the GSA contract and the California contract, and we have to report a lot of concentration because we've got these orders coming into the same contract vehicle. But in fact, to say that an order from the Army is the same as an order from Department of Homeland Security or the US Marine Corps, although they may come through the same contracting vehicles, it's a folly to talk all those the same things.

我認為這不公平。我們有 GSA 合同和加利福尼亞合同等合同，我們必須報告高度集中，因為我們將這些訂單納入同一合同工具。但事實上，要說來自陸軍的命令與來自國土安全部或美國海軍陸戰隊的命令相同，儘管它們可能來自相同的承包車輛，但談論所有這些相同的事情是愚蠢的。

But we do have great repeat business. There's no question about that, especially amongst those people who bought one or two of our products in the early days to test it back in the days when we used to have to prove ourselves. I think we're way beyond that now. But we've had great success.

但我們確實有很好的回頭客。毫無疑問，尤其是那些在我們過去不得不證明自己的日子裡早期購買一兩個我們的產品來測試它的人。我認為我們現在遠遠超出了這一點。但我們取得了巨大的成功。

I'm sorry, I can't give you an exact percentage on that because it's so hard to model out what's GSA, what's California, and everything else. But I think we love repeat orders, especially when they're bigger than the one that we got before from that customer, and I think we've seen a lot of that.

對不起，我不能給你一個確切的百分比，因為很難模擬出什麼是 GSA，什麼是加利福尼亞，以及其他一切。但我認為我們喜歡重複訂單，尤其是當它們比我們之前從那個客戶那裡得到的訂單大時，我認為我們已經看到了很多。

Sure. No. That's -- I'm just trying to understand, like, with that sense of idea then, what's stopping you from basically giving us some guidance in terms of revenue number or unit sales number that will help the speed out there.

當然。不，那是——我只是想理解，就像，那時的那種想法，是什麼阻止你基本上在收入數字或單位銷售數字方面給我們一些指導，這將有助於加快速度。

Well, I'll tell you why I'm not giving guidance. Because I think it'd be foolish for me to do that. Imagine if -- in the beginning of 2022, I just said, well, we're going to double our revenues and we're going to end the year with -- 300% of that year is in contracted backlog.

好吧，我會告訴你為什麼我不提供指導。因為我認為我這樣做是愚蠢的。想像一下，如果 - 在 2022 年初，我剛剛說，好吧，我們將把收入翻一番，我們將在年底結束 - 那一年的 300% 是合同積壓的。

It's just -- there are too many moving parts that we don't control. Remember that we are in an industry, which is a brand-new space, brand new technology, brand new -- there is no historical playbook. I can't look back at any ratios or anything else like that. I certainly would never have suggested that we would convert 80% of our pipeline into backlog. I would never suggest that, because like I said, I've never seen that in 40 years of business.

只是 - 有太多我們無法控制的活動部件。請記住，我們所處的行業是一個全新的空間、全新的技術、全新的——沒有歷史劇本。我不能回顧任何比率或其他類似的東西。我當然不會建議我們將 80% 的管道轉換為積壓。我永遠不會建議這樣做，因為正如我所說，我在 40 年的商業生涯中從未見過這種情況。

So the fact is that none of us have enough information about what the future will hold to make accurate forecasts. What I am absolutely convinced of is that we are going to continue to see very dramatic and accelerating growth.

所以事實是，我們都沒有足夠的關於未來會發生什麼的信息來做出準確的預測。我絕對相信的是，我們將繼續看到非常顯著和加速的增長。

And again, I'm convinced that because the small amount of data that I do have to look at seems like the pipeline returning to over $100 million after we took $76 million out of an $80 million pipeline. Now, if you think about what that actually means, that's pretty dramatic. And it's always indicating -- telling us that we're just going to sell more and more and more.

再一次，我確信，因為我必須查看的少量數據似乎在我們從 8000 萬美元的管道中取出 7600 萬美元後，管道又回到了 1 億美元以上。現在，如果您考慮這實際上意味著什麼，那將是非常戲劇化的。它總是表明 - 告訴我們我們只會賣得越來越多。

And I'm very, very confident in the fantastic team that we've got here. And as I said, the fact we've got under utilized space here still, we will be able to grow into that. But I'm not going to give guidance.

我對我們這裡的出色團隊非常非常有信心。正如我所說，事實上我們這裡的空間仍未得到充分利用，我們將能夠發展到這一點。但我不會提供指導。

Sure. No, fair enough. Last one I have is -- and I'm just trying my luck here. So could you help us get some idea on, like, so what would be the dollar revenue number or maybe unit sales number that -- somewhat threshold that you have in mind to get a breakeven gross margin here? And would that be in 2023 that we can think of?

當然。不，很公平。我的最後一個是——我只是想在這裡試試運氣。那麼，您能否幫助我們了解一些想法，例如，美元收入數字或單位銷售數字是多少 - 您想要在這裡獲得盈虧平衡毛利率的某種門檻？那會是我們能想到的 2023 年嗎？

Yes. I -- asked and answered. We were breakeven gross profit on EV ARC products in the fourth quarter.

是的。我——問了也回答了。我們在第四季度實現了 EV ARC 產品的盈虧平衡。

Got it. Sure. Thank you very much, Desmond.

知道了。當然。非常感謝你，德斯蒙德。

Thank you.

謝謝。

[James Mikulak], Private Investor.

[James Mikulak]，私人投資者。

Hello, James.

你好，詹姆斯。

Hi, Desmond, good to talk to you again. Just a general comment in terms of the market opportunity. It seems like you're looking at $1 billion-plus easy market opportunity, and the challenge for Beam is going to try and get the critical mass to take advantage of that.

嗨，戴斯蒙德，很高興再次與你交談。只是對市場機會的一般性評論。您似乎正在尋找 10 億美元以上的輕鬆市場機會，而 Beam 面臨的挑戰是嘗試獲得臨界質量以利用這一機會。

So two conference calls ago, one of your, I think, esteemed older private investor made a recommendation to go out and secure a significant credit line or financing for growth. So congratulations on executing that. So obviously, that was a critical piece.

因此，在兩次電話會議之前，我認為您尊敬的一位年長的私人投資者建議走出去並獲得重要的信貸額度或融資以促進增長。所以祝賀你執行了那個。很明顯，這是一個關鍵部分。

Thank you.

謝謝。

I had two questions. First one was around the current product line. And one was how strong is your patent protection for the EV charging systems that are not connected to the grid? So how strong do you feel that patent protection is? And when do those patents expire?

我有兩個問題。第一個是圍繞當前的產品線。其中一個是您對未連接到電網的 EV 充電系統的專利保護有多強？那麼你覺得專利保護有多強呢？這些專利甚麼時候到期？

And then the second question was regarding competition. Would you -- are there any current competitors of a larger scale that actually are offering competing systems, again, non-grid connected? And I've got a follow-up question.

然後第二個問題是關於競爭的。你會 - 目前是否有任何規模更大的競爭對手實際上正在提供競爭系統，再次，非電網連接？我有一個後續問題。

Yeah. So thank you for the comment about the credit facility. You're absolutely right about that. Clearly, it's magnificent for us to have access to that kind of cash, and again, very inexpensive, non-dilutive, and with no fees or gauches or anything else.

是的。因此，感謝您對信貸機制的評論。你是完全正確的。顯然，我們能夠獲得這種現金是一件了不起的事情，而且非常便宜，不會稀釋，而且沒有任何費用或費用或其他任何東西。

It was, again, hard one to grind out. But I'm delighted. I'm really thrilled with the partner that we have is where we should definitely take a look at them. Third largest -- our third fastest growing company in Europe and first largest -- fastest in the United Kingdom, very well-respected multibillion-dollar deal type of organization.

這又是一個難以磨滅的問題。但我很高興。我真的很高興我們擁有的合作夥伴是我們絕對應該看看他們的地方。第三大 - 我們在歐洲增長第三快的公司和第一大 - 在英國增長最快，非常受人尊敬的數十億美元交易類型的組織。

To your questions, the patent portfolio that we have is fundamental to our product. And what I mean by that is there are several patents rolled up in, for example, the EV ARC product. And all of them are fundamental to its operation. In other words, you can't get close to an EV ARC and not be imprinting on our patents. And that was really deliberate on our part.

對於您的問題，我們擁有的專利組合是我們產品的基礎。我的意思是，例如，EV ARC 產品中有多項專利。所有這些都是其運作的基礎。換句話說，您無法接近 EV ARC 並且不會在我們的專利上留下印記。這對我們來說真的是故意的。

We are about halfway through the life of the earliest of those. And we will, of course, pay attention to that, and endeavor to make such improvements and changes as we can to the product in the future to allow us to roll new patents into it as it seems like that's the right idea to do it.

我們大約已經走過了其中最早的生命的一半。當然，我們會關注這一點，並努力在未來對產品進行盡可能的改進和改變，以便我們能夠將新專利納入其中，因為這似乎是正確的想法。

So -- and we will rigorously defend our patent portfolio. The great news is we don't need money to do that. This is America. There are plenty of people out there that would happily take that on spec because our plans are well written, and they'll fight on our behalf for a piece of the proceeds, of course. Again, it's America, no one is ready for free. But I think we're well defended where that's concerned and certainly for the foreseeable future.

所以——我們將嚴格捍衛我們的專利組合。好消息是我們不需要錢來做到這一點。這是美國。有很多人會很樂意接受它，因為我們的計劃寫得很好，當然，他們會代表我們爭取一部分收益。再一次，這是美國，沒有人準備好免費。但我認為我們在這方面得到了很好的捍衛，當然在可預見的未來也是如此。

As far as competitors are concerned, you said if -- you asked me if there's any sort of -- look, I think you said well yield or at least larger capable competitors. I don't know if any competitor has anything like what we have rapidly deployed, transportable. We've seen no hint of it, except that there are a couple of smaller companies out there who are making things that might look a bit like it, but they can't really compete with it.

就競爭對手而言，你說如果 - 你問我是否有任何 - 看，我認為你說的是產量或至少是更大的有能力的競爭對手。我不知道是否有任何競爭對手擁有像我們快速部署、可運輸的東西。我們沒有看到它的任何跡象，除了有幾家較小的公司正在製造看起來有點像它的東西，但他們無法真正與之競爭。

For example, and here, I'll [pre-sell] the negative. We actually lost a contract last year to a company that takes 20-foot shipping containers and fixes solar panels on the roof of those containers, put some batteries inside of them, and then attaches EV charging to the outside of the container.

例如，在這裡，我將[預售]底片。實際上，我們去年失去了一家公司的合同，該公司使用 20 英尺的集裝箱，將太陽能電池板固定在這些集裝箱的頂部，將一些電池放入其中，然後在集裝箱外部安裝電動汽車充電裝置。

Now, they can compete with us almost on speed to deploy. They're still not as fast as we are. There's certainly nowhere near as elegant as we are from the deploying point of view because they still have to bolt it together. Their units don't hold out hydraulically like our view on their site. And I -- again, I encourage you to watch the video on our product section. The EV ARC product show you exactly how this is done, and it's really elegant.

現在，他們幾乎可以在部署速度上與我們競爭。他們仍然沒有我們快。從部署的角度來看，肯定沒有我們那麼優雅，因為他們仍然需要將它固定在一起。他們的單位不像我們在他們網站上看到的那樣在液壓上堅持。我 - 再次鼓勵您觀看我們產品部分的視頻。 EV ARC 產品向您展示了這是如何完成的，而且非常優雅。

But there are several things wrong with container-based solutions. First of all, a shipping container does not fit into a standard legal side parking space, which measures 9 foot by 18 feet in United States. You are going to stick 2 feet out into the drive aisle. In many instances, that is illegal because drive aisles are often also [for lease].

但是基於容器的解決方案有幾個問題。首先，集裝箱不適合標準的合法停車位，在美國，停車位的尺寸為 9 英尺乘 18 英尺。您將伸出 2 英尺進入車道。在許多情況下，這是非法的，因為車道通常也是 [出租]。

A shipping container will render the parking space unusable. Unlike our product, which allows you to park on it. A shipping container will prevent you from parking that space. And most jurisdictions that we care about have a minimum requirement for the number of parking spaces, which are required for the use on the property.

集裝箱會使停車位無法使用。與我們的產品不同，它允許您在上面停車。運輸集裝箱會阻止您停放該空間。我們關心的大多數司法管轄區都對停車位數量有最低要求，這是在物業上使用所必需的。

Taking away, even just one of those spaces will knock the property out of compliance. You might get away with that for six weeks or six months, but you're not going to build a business out of it.

帶走，即使只是其中一個空間也會使財產不合規。你可能會在六個星期或六個月內擺脫困境，但你不會以此為基礎建立業務。

And then from an energy density point of view, the shipping containers can't compete with us because they don't have our patented tracking solution following the sun as it moves across the sky and generating a measure of 25% more electricity, which just means more miles into the electric vehicle.

然後從能量密度的角度來看，集裝箱無法與我們競爭，因為它們沒有我們的專利跟踪解決方案，可以跟踪太陽在天空中移動並產生多 25% 的電力，這只是意味著電動汽車行駛更多英里。

And then finally, dare I say it, most people do not want 20-foot shipping containers parked in front of their buildings even if they are providing EV charging. And then I'll tell you this, the entity for whom we lost that contract, ended up selecting the shipping container solution because it was less expensive than ours. And we don't even know if they're going to be able deliver. But there are entities that did that.

最後，我敢說，即使他們提供電動汽車充電，大多數人也不希望 20 英尺的集裝箱停在他們的建築物前。然後我會告訴你這個，我們失去合同的實體最終選擇了運輸集裝箱解決方案，因為它比我們的便宜。我們甚至不知道他們是否能夠交付。但是有些實體這樣做了。

I can tell you that the actual site recipients, the host sites, they are bitterly disappointed that they're not getting what they now refer to as a Beam. We call it an EV ARC, but most of our customers just refer to it as a Beam. And those recipients, now the people who close the contract, who so often are not the ones that actually use the product, but the recipients of the devices are bitterly disappointed that they ended up with a 20-foot shipping container instead of a beautiful well-engineered product like ours.

我可以告訴你，實際的網站接收者，即託管網站，他們非常失望，因為他們沒有得到他們現在所說的 Beam。我們稱其為 EV ARC，但我們的大多數客戶只是將其稱為 Beam。而那些接受者，現在是簽訂合同的人，他們通常不是真正使用該產品的人，但設備的接受者非常失望，因為他們最終得到的是一個 20 英尺的集裝箱，而不是一口漂亮的水井-像我們這樣的工程產品。

Okay. And you mentioned you're halfway through the patent life on the first ones to roll off. How many more years left on that?

好的。你提到你已經過了第一批推出的專利壽命的一半。那還有多少年？

Another 10 or so.

另外 10 個左右。

Yeah, okay. So you've got 10, all right. So the second question on the current cost and then I just want to get into market expansion in Europe and you mentioned -- you made a brief mention on the Midwest as well.

好的。所以你有 10 個，好吧。所以關於當前成本的第二個問題，然後我只想進入歐洲的市場擴張，你提到過——你也簡要提到了中西部。

Freight costs as a percent of your sales of your finished products, say, for example, to the East Coast, for both the shipping to finished product, as well as bringing raw materials in the San Diego. What percent of the total product cost is -- ballpark is your freight and is prohibited to -- are you prohibited -- that's prohibited from a cost standpoint and logistics standpoint to be shipping a significant amount of product to the East Coast, for example?

運費佔成品銷售額的百分比，例如運往東海岸的運費，包括運輸到成品以及將原材料運到聖地亞哥。例如，從成本和物流的角度來看，禁止將大量產品運往東海岸，這在總產品成本中佔多少百分比？

Well, we've -- of course, we have shipping source because we've had to. We haven't had a choice. I think one of the ways we cure for that is, as I said, we do intend to expand into -- somewhere in the middle of the country. It makes a lot of sense for us to be there from a whole host of it, less expensive to do business, easier to expand, trained workforce. I believe we're going to be heading into a recession.

好吧，我們 - 當然，我們有運輸來源，因為我們不得不這樣做。我們別無選擇。我認為我們解決這個問題的方法之一是，正如我所說，我們確實打算擴展到 - 在該國中部的某個地方。對我們來說，從一大堆那裡來是很有意義的，做生意的成本更低，更容易擴展，訓練有素的勞動力。我相信我們將走向衰退。

And I think if you look at the employment numbers right now, although employment numbers are still increasing, most of them are in service and hospitality. In this kind of skill sets that we choose, I think we're already starting to see a decline there and there'll be a lot of people available for us. So that we'll save money that way.

我認為，如果你看看現在的就業人數，雖然就業人數仍在增加，但其中大部分是服務業和酒店業。在我們選擇的這種技能組合中，我認為我們已經開始看到那裡的下降，並且會有很多人可以為我們服務。這樣我們就可以通過這種方式省錢。

The percentage costs are so varied depending on where we're going and whether or not we self-perform or how we would -- so just to be clear, sometimes we deliver ourselves using our own equipment. Sometimes we use third-party carriers, and sometimes our customers do the delivery. And so, we don't even do that. So they're very varied.

百分比成本因我們要去的地方以及我們是否自我執行或我們將如何執行而變化很大 - 所以需要明確的是，有時我們會使用自己的設備交付自己。有時我們使用第三方承運商，有時我們的客戶進行送貨。因此，我們甚至不這樣做。所以它們非常多樣化。

In no instance, they prohibitively enough to prevent us selling and deploying the product, but we would certainly love to bring these costs down. And what I'll tell you is, we have seen as much as 5x decrease in cost.

在任何情況下，它們都不足以阻止我們銷售和部署產品，但我們當然希望降低這些成本。我要告訴你的是，我們已經看到成本降低了 5 倍之多。

For example, we ship a container across the Pacific Ocean from where the battery cells that we buy still come, 5x reduction in cost, dramatic reduction in cost to move a truck across the United States. And even more than the cost reduction, where last year for [if we have] more money could we get them to show up this time last year because they were so busy. And now, they're calling us looking for loads.

例如，我們將一個集裝箱從我們購買的電池仍然運來的地方運過太平洋，成本降低了 5 倍，大大降低了在美國運送卡車的成本。甚至比降低成本還要多，去年[如果我們有]更多的錢，我們可以讓他們去年這個時候出現，因為他們太忙了。而現在，他們打電話給我們尋找負載。

And when trucking companies are calling you looking for loads, two things going on. First of all, they're moving into a recession at some point, or something that looks like one. And the second thing is you pay a lot less. Now, where recession is concerned, I want to be actually very clear about something. We have absolutely no top-line risk to -- right now from recession. None. But I don't think it might go the other way. I think it might do even more because infrastructure build outs and so on will be so important.

當卡車運輸公司打電話給您尋找貨物時，會發生兩件事。首先，他們在某個時候進入衰退，或者看起來像衰退。第二件事是您支付的費用要少得多。現在，在經濟衰退方面，我想非常清楚一些事情。我們絕對沒有頂線風險 - 現在來自經濟衰退。沒有任何。但我不認為它可能會走另一條路。我認為它可能會做得更多，因為基礎設施建設等將非常重要。

But at the same time, I do anticipate a continued and even more dramatic reduction in our cost moving forward as a result of reduced demand and the slowing of the inflationary environment and whole host of other things like that. So we never want these things to happen, but I think we're about at a good position as we could possibly be if something like that does come down the pipeline.

但與此同時，我確實預計，由於需求減少、通貨膨脹環境放緩以及其他諸如此類的事情，我們的成本會持續甚至更大幅度地下降。所以我們從不希望這些事情發生，但我認為我們處於一個有利的位置，如果類似的事情確實發生了，我們可能會處於有利位置。

That's good to hear. And then the last question on the current product was on pricing. You mentioned that you're pretty proud that you would not increase pricing, and you have been able reduce the gross margin operating loss.

聽起來還不錯。然後關於當前產品的最後一個問題是定價。你提到你很自豪你不會提高價格，並且你已經能夠減少毛利率運營損失。

Are there any restrictions in the GSA and other contracts that actually prevent you from raising prices? Or is it more market forces? And if there are restrictions, when do those roll off in terms of provision in the contract that allowed you to raise price based on either raw material or time?

GSA 和其他合同中是否有任何實際阻止您提高價格的限制？還是更多的市場力量？如果有限制，合同中允許您根據原材料或時間提高價格的條款何時取消？

So let me be clear. I am proud of my fantastic team for the fact that they have been able to reduce our costs. I'm not proud of myself for not increasing my prices. I'm neither proud nor anything else for that situation. This has been an entirely pragmatic decision on our part based on our belief that at the moment, growing the business, increasing volumes, getting more market share, getting more footprint out there, is absolutely crucial to our long-term growth and profitability.

所以讓我說清楚。我為我出色的團隊感到自豪，因為他們能夠降低我們的成本。我不為自己沒有提高價格而感到自豪。對於那種情況，我既不自豪也不為其他任何事情感到自豪。這對我們來說是一個完全務實的決定，基於我們的信念，即目前，發展業務、增加銷量、獲得更多市場份額、擴大足跡，對我們的長期增長和盈利能力絕對至關重要。

And that raising prices would be just adding an additional barrier. And I'll tell you personally, I don't like raising prices to solve profitability problems. That's not where the work is. Anybody can do that. The work is in reducing costs, and that's what we are absolutely focused on.

而提高價格只會增加額外的障礙。我個人會告訴你，我不喜歡通過提高價格來解決盈利問題。那不是工作的地方。任何人都可以做到。這項工作是為了降低成本，而這正是我們絕對關注的重點。

And we believe that even where we are with the current pricing, without increasing our pricing right now, we believe that we can get to a 50% gross profit in the future. And that's -- the job is to get to that, not just raise the prices because it looks good on a spreadsheet.

而且我們相信，即使我們採用當前定價，現在不提高我們的定價，我們相信我們可以在未來獲得 50% 的毛利潤。那就是 - 工作就是做到這一點，而不僅僅是提高價格，因為它在電子表格上看起來不錯。

It's not to do with restrictions on GSA contracts or anything else like that. Although, of course, there are contracted or negotiated prices and those things, so we would be able to increase them whenever we renegotiate those contracts, or if there's some extraordinary event that we're able to demonstrate to them.

這與對 GSA 合同或其他類似內容的限制無關。當然，雖然有合同或協商價格和那些東西，所以我們可以在重新談判這些合同時增加它們，或者如果有一些我們能夠向他們展示的特殊事件。

But that's not the real interest here. The real interest is in growing this business, and in continuing to do what we've done over the last couple of years, which is have these triple-digit growth. Believe me, we will get the profitability out today. Anybody that mass produces a product does.

但這不是這裡真正的興趣所在。真正的興趣在於發展這項業務，並繼續做我們在過去幾年所做的事情，即實現三位數的增長。相信我，我們今天將獲得盈利能力。任何批量生產產品的人都會這樣做。

Fairly. I just -- given the environment that we're in right now and the cost increases that everybody has incurred, some of them permanent, but the opportunity for a price adjustment reflecting those increased cost, everyone's accepting it. Sounds like you've got a product that's in high demand that -- and price is not the main determining factor in the purchase position for this. So just a thought.

相當。我只是 - 考慮到我們現在所處的環境以及每個人都承擔的成本增加，其中一些是永久性的，但價格調整的機會反映了這些增加的成本，每個人都在接受它。聽起來您的產品需求量很大，而價格並不是購買此產品的主要決定因素。所以只是一個想法。

Then last -- second part of this was just on the expansion plans, particularly as far as both Europe and with the United States. If you could maybe elaborate a little bit further as to which is the one that's more of a top priority. And then on the European, any thoughts as far as Europe.

最後 - 第二部分只是關於擴張計劃，特別是在歐洲和美國。如果你可以進一步詳細說明哪個是最優先考慮的問題。然後是關於歐洲，任何關於歐洲的想法。

Does the EU have similar GSA contract -- or national, or not even national, but contracts within all the member states, or are the incentive programs negotiated with the individual countries within the EU? And have you given any thought at all in terms of strategy, whether it's greenfield, partner joint venture with an established player in Europe?

歐盟是否有類似的 GSA 合同——或國家合同，或什至不是國家合同，而是在所有成員國內簽訂的合同，或者是否與歐盟內的各個國家協商了激勵計劃？你有沒有考慮過戰略方面的問題，無論是綠地，還是與歐洲老牌企業的合資企業？

Okay. So from expansion point of view, I'd say you could break it down like this. From the Beam team point of view, US expansion is the thing that they're concentrating on. From Desmond Wheatley's point of view, European expansion is the thing that's most important to me right now.

好的。所以從擴展的角度來看，我會說你可以像這樣分解它。從 Beam 團隊的角度來看，美國擴張是他們關注的重點。從 Desmond Wheatley 的角度來看，歐洲擴張是目前對我來說最重要的事情。

And we do kind of -- that's -- I will be the sharp end of the spear where that European expansion is concerned, not just because I'm from there, but just because it's appropriate that I would do that. So a strategic type of negotiation. Whereas the US expansion will be something that's more operational and administrative. And lots of really good talent on the team to do that stuff.

我們確實有點——那就是——我將成為涉及歐洲擴張的矛尖，不僅僅是因為我來自那裡，而是因為我這樣做是合適的。所以是一種戰略性的談判。而美國的擴張將更具操作性和管理性。團隊中有很多非常優秀的人才可以做這些事情。

I don't think it's where my strengths would be best represented. But negotiating, either in an acquisition or some other means of expanding into that market, maybe that's where I think that my skills will be best represented.

我不認為這是我的優勢最能體現的地方。但談判，無論是通過收購還是通過其他方式擴展到該市場，也許這就是我認為最能體現我的技能的地方。

So to answer your question about whether we consider a joint venture or something like that, not in Europe. I think in Europe, we want to own it. We don't want to give up any of the equity in that space.

因此，要回答您關於我們是否考慮合資企業或類似企業的問題，而不是在歐洲。我認為在歐洲，我們想擁有它。我們不想放棄該領域的任何股權。

But there are other parts of the world where a joint venture makes a lot of sense for us. Those are parts of the world where you just don't do well unless you've got a strong and powerful local partner. And so, I think you should expect me to be very pragmatic about this.

但在世界其他地方，合資企業對我們來說意義重大。除非您擁有強大而強大的本地合作夥伴，否則在世界的那些地方您就做不好。因此，我認為您應該期望我對此非常務實。

If I'm going into an environment where we think a strong and powerful local partner is good, then joint venture it is. If we're going into a place where rule of law governs and where we want to own all of the equity, then we're going to acquire or bootstrap. And I would say, acquire would be my preference on that just because of speed to market.

如果我要進入一個我們認為強大而強大的本地合作夥伴很好的環境，那麼合資企業就是這樣。如果我們要進入法治管轄的地方並且我們想擁有所有股權，那麼我們將收購或引導。我會說，收購將是我的首選，只是因為上市速度。

And then finally, on contracting in the European Union, certainly there are buckets of money available at EU level that are being transmitted through the local states. And then I think we're going to see a lot of local contracting within those states as well.

最後，關於在歐盟簽訂合同，在歐盟層面肯定有大量資金可以通過當地國家轉移。然後我認為我們也會在這些州內看到很多本地合同。

But as you know, the government in Europe -- governments and government in Europe tend to be a bit more engaged in infrastructure expansion. There's less of that kind of laissez-faire thing that goes on the US, where the markets are expected -- the public markets and commercial entities are expected to take care of these things. And a lot more centralized infrastructure planning, et cetera, in Europe both at the national level and at the EU level.

但正如你所知，歐洲政府 - 歐洲政府和政府往往更多地參與基礎設施擴張。在美國，這種放任自流的事情較少發生，因為市場是預期的——公共市場和商業實體應該處理這些事情。在歐洲，無論是在國家層面還是在歐盟層面，都有更多集中的基礎設施規劃等。

And I believe -- and this is an informed belief, it's not just a guess that our products are going to be very popular over there for all the reasons that the population in the United States or perhaps even more so.

而且我相信 - 這是一個有根據的信念，這不僅僅是猜測我們的產品會因為美國人口或什至更多的人口的所有原因而在那裡非常受歡迎。

It's actually harder, more environmentally impactful to start digging up the streets in a place like Paris than it is in a place like San Diego because of all the history and all the other stuff that goes on there. There's a much more tendency towards green energy in Europe than there's in the United States.

實際上，在巴黎這樣的地方開始挖掘街道比在聖地亞哥這樣的地方更難，對環境的影響也更大，因為那裡有所有的歷史和所有其他事情。與美國相比，歐洲更傾向於使用綠色能源。

And then energy security, particularly after Mr. Putin's behavior over the last couple of years, energy, security, absolutely front and center for everybody over there. They're not -- they're terrified that they're paying too much for this unit of energy, and of course, a zero unit cost of energy with our product.

然後是能源安全，特別是在普京先生過去幾年的行為之後，能源、安全絕對是那裡每個人的首要任務和中心。他們不是——他們害怕他們為這個單位的能源付出了太多，當然，我們的產品的能源單位成本為零。

And they're also terrified about vulnerability where energy is concerned, because they have seen over the last couple of years just how very vulnerable they are. And so, there's just so many reasons why that's an exciting market [there is] on that part. That's why I tell you from a personal point of view, that's where most of my focus is going to go.

他們也對能源方面的脆弱性感到恐懼，因為他們在過去幾年中看到了他們是多麼脆弱。因此，這部分是一個令人興奮的市場的原因有很多。這就是為什麼我從個人角度告訴你，這是我大部分關注的地方。

Okay. Thanks very much, Desmond. Congratulations.

好的。非常感謝，戴斯蒙德。恭喜。

My pleasure. Thank you. I think that's -- we're a little over time here. So I'll just -- for those of you who are still on, thank you for spending the time with us. Thank you for your support and for your excellent questions.

我的榮幸。謝謝。我認為那是——我們在這裡有點超時了。所以我只是 - 對於那些仍在繼續的人，感謝您與我們共度時光。感謝您的支持和提出的精彩問題。

The good -- the great thing for me is every time I do these, they're better than the last, because we just keep knocking it out of the park. And I do not want you to anticipate there'll be any slowdown in that because I don't think that's coming at all.

好的 - 對我來說最棒的是每次我做這些，它們都比上一次更好，因為我們一直在把它從公園裡敲出來。而且我不希望你預計這會有所放緩，因為我認為這根本不會發生。

As I said, it's a brilliant time to be Beam Global right now. And there are plenty of challenges ahead, but they become less all the time. And those challenges have more to do with the tremendous new opportunities that we have than the things that we'd like to overcome in the past.

正如我所說，現在是成為 Beam Global 的絕佳時機。前方還有很多挑戰，但它們一直在變少。這些挑戰更多地與我們擁有的巨大新機遇有關，而不是我們過去想要克服的事情。

So thank you for being along for the ride. And I look forward to doing the next earnings call.

所以感謝你一路同行。我期待著進行下一次財報電話會議。

The conference has now concluded. Thank you for attending today's presentation. You may all now disconnect.

會議現已結束。感謝您參加今天的演講。你們現在可能都斷開連接了。