Beam Global (BEEM) 2024 Q1 法說會逐字稿

Hello and welcome to the Beam Global first quarter 2024 operating results conference call. (Operator Instructions) As a reminder, this conference is being recorded.

您好，歡迎參加 Beam Global 2024 年第一季經營業績電話會議。（操作員指示）謹此提醒，本次會議正在錄製中。

I would now like to hand the call to Lisa Potok, Chief Financial Officer. Please go ahead.

現在我想將電話轉給財務長 Lisa Potok。請繼續。

Hi. Good afternoon and thank you for participating in Beam Global's first quarter 2024 operating results conference call. We appreciate you joining us today to hear an update on our business.

你好。下午好，感謝您參加 Beam Global 2024 年第一季營運業績電話會議。感謝您今天加入我們，聆聽我們業務的最新動態。

Joining me is Desmond Wheatley, President, CEO and Chairman of Beam. Desmond will be providing an update on recent activities at Beam, followed by our question-and-answer session. 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.

與我一起出席的是 Beam 總裁、執行長兼董事長 Desmond Wheatley。Desmond 將介紹 Beam 最近活動的最新情況，然後進行問答環節。但首先，我想告訴您，在這次電話會議中，管理層將做出前瞻性聲明，包括涉及 Beam 對未來業績或營運結果的預期的聲明。

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 recent filed Form 10-K and other periodic reports filed with the SEC.

前瞻性陳述涉及風險和其他因素，可能導致實際結果與這些陳述有重大差異。有關這些風險的更多信息，請參閱 Beam 最近提交的 10-K 表格以及向 SEC 提交的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, May 21, of 2024, 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.

本次通話的內容包含時間敏感訊息，僅截至今天（2024 年 5 月 21 日）準確，法律要求的情況除外。Beam 不承擔公開更新或修改任何資訊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 of Beam’s first quarter of 2024. We had record first quarter revenues of $14.6 million increasing 12% over the same period in 2023. The first quarter increase can be attributed to an increase in our federal sales. The timing of our orders overall may continue to be uneven due to the timing of our customer approvals and their budget cycle. We have begun the process of production of our EV ARCs in our Serbian facility and expect to deliver our first sale to the Ministry of Defense in quarter two.

接下來，我想概述一下 Beam 2024 年第一季的財務表現。我們第一季的營收達到創紀錄的 1,460 萬美元，比 2023 年同期成長 12%。第一季的成長可歸因於我們聯邦銷售的成長。由於我們的客戶批准時間及其預算週期，我們的訂單整體時間可能會繼續不均勻。我們已經開始在塞爾維亞工廠生產 EV ARC，並預計在第二季向國防部交付第一筆銷售。

We generated gross profit with a gross margin of 10.2% the highest margin ever. The improvement in gross margin is primarily because of those cost reductions that we implemented in late 2023, as a result of our engineering improvements to the EV ARC. Our gross profits do include $0.2 million for non-cash and tangible amortization, which negatively impacts our profits.

我們的毛利達到了 10.2%，是有史以來最高的毛利率。毛利率的增加主要是因為我們在 2023 年底對 EV ARC 進行了工程改進，這降低了成本。我們的毛利確實包括 20 萬美元的非現金和有形攤銷，這對我們的利潤產生了負面影響。

Operating expenses for Q1 of 2024 was $4.5 million, or 31% of revenue compared to $3.8 million or 30% of revenue for the same quarter in 2023. $0.7 million increase is mostly attributable to a $0.4 million increase in consultant costs related to the integration of our new ERP accounting software, as well as our sales and marketing, government relations, and engineering design support. We have $0.3 million for operating expenses pertaining to our Beam Europe operations.

2024 年第一季的營運費用為450 萬美元，佔營收的31%，而2023 年同一季度的營運費用為380 萬美元，佔營收的30%。成本增加了40 萬美元。我們有 30 萬美元用於與 Beam Europe 業務相關的營運費用。

As for our net loss, it was $3 million or 21% of revenue for the first quarter of 2024 compared to $3.8 million or 29% of revenue for the same period in 2023, an improvement of 8% year-over-year. The first quarter net loss included non-cash expense items such as depreciation, intellectual property amortization, and non-cash compensation expense of $1.1 million in '24 and $0.9 million in '23. '24s net loss, excluding these non-cash items was $1.9 million or 13% of revenue.

至於我們的淨虧損，2024 年第一季為 300 萬美元，佔營收的 21%，而 2023 年同期為 380 萬美元，佔營收的 29%，年減 8%。第一季淨虧損包括非現金費用項目，如折舊、智慧財產權攤提和非現金補償費用，24 年為 110 萬美元，23 年為 90 萬美元。不包括這些非現金項目，24 財年的淨虧損為 190 萬美元，佔營收的 13%。

Our cash balance on March of '24, was $5 million, compared to $10.4 million at December of '23. The cash decrease was primarily due to cash payments for the acquisition of Amiga of $2.7 million, as well as operating cash used to increase inventory at Beam Europe. Accounts receivable at March '24, grew $4 million, which all the way to $20 million, which of this $10.7 million of this balance is due from three customers.

2024 年 3 月我們的現金餘額為 500 萬美元，而 2023 年 12 月我們的現金餘額為 1,040 萬美元。現金減少主要是由於收購 Amiga 支付的 270 萬美元現金，以及用於增加 Beam Europe 庫存的營運現金。截至 24 年 3 月，應收帳款增加了 400 萬美元，一直達到 2,000 萬美元，其中 1,070 萬美元的餘額來自三個客戶。

Our working capital decreased from $23.8 million to $17.8 million from December '23, to March of '24, and this is mainly due to the accrual of our contingent consideration for the Amiga transaction of $4.3 million. We're moving that to current liabilities as of March of '24, versus non-current liability at December of '23. This contingent consideration is a non-cash earn-out based on revenue targets. The payment is all in the company's common stock.

從2023年12月到2024年3月，我們的營運資金從2,380萬美元減少到1,780萬美元，這主要是由於我們為Amiga交易提列了430萬美元的或有對價。我們將其轉移到 2024 年 3 月的流動負債，而不是 23 年 12 月的非流動負債。該或有對價是基於收入目標的非現金收益。付款全部以公司普通股支付。

I will now turn the call over to Desmond to provide a business update.

我現在將把電話轉給德斯蒙德，以提供業務最新情況。

Okay, Thank you, Lisa, and thanks everybody for joining Beam Global's first quarter earnings call.

好的，謝謝麗莎，也謝謝大家參加 Beam Global 第一季財報電話會議。

I'm actually speaking to you today from Abu Dhabi, where I'm spending a week working on growing our business in the Middle Eastern region. There's a great deal of opportunity here, and our recent expansion into Europe has enabled us to start taking advantage of opportunities on a far greater scale than anything we've previously been able to address.

實際上，我今天是在阿布達比與大家交談的，我在那裡花了一周的時間致力於發展我們在中東地區的業務。這裡有大量的機會，我們最近向歐洲的擴張使我們能夠開始以比我們以前能夠解決的任何事情更大的規模利用機會。

My comments will be relatively short because, of course we've just recently had our earnings call for the full year of 2023 and the 10-K, during which we did a fairly comprehensive update of the business and the various opportunities in front of us.

我的評論會相對較短，因為當然，我們最近剛剛召開了 2023 年全年和 10-K 的收益電話會議，在此期間我們對業務和擺在我們面前的各種機會進行了相當全面的更新。

Nevertheless, things are happening very quickly at Bean Global, so beyond simply updating you on the numbers, I'll be talking to you about a couple of exciting opportunities in front of us, as well as outlining some highlights from the first quarter.

儘管如此，Bean Global 的發展速度非常快，因此除了簡單地向您介紹最新的數字之外，我還將與您討論我們面前的一些令人興奮的機會，並概述第一季度的一些亮點。

Before coming to the Middle East, I spent a week in our Serbian facilities, catching up on our operational expansion there, as well as meeting with existing and prospective customers. It was a very productive week. I'm thrilled by the progress we've made in Europe and equally excited by the opportunities which we have in front of us over here.

在來中東之前，我在我們的塞爾維亞工廠待了一周，了解我們在那裡的業務擴張情況，並會見了現有和潛在客戶。這是非常富有成效的一周。我對我們在歐洲的進步感到興奮，也對我們在這裡擁有的機會感到興奮。

Aside from the quality and very high level of business development meetings I attended, thanks to the efforts of our European management team, the greatest impression came through seeing rows of completed EV ARC systems waiting to be delivered to customers and also on seeing sections of the EV standard product waiting to be assembled into the first prototypes of that product, which as you all know, I believe has the potential to be our biggest seller.

除了我參加的高品質和高水準的業務發展會議之外，由於我們歐洲管理團隊的努力，最深刻的印像是看到一排排完整的 EV ARC 系統等待交付給客戶，以及看到電動汽車標準產品正在等待組裝成該產品的第一個原型，正如你們所知，我相信它有潛力成為我們最大的暢銷品。

So now I'm doing this earnings call in the middle of the night from Abu Dhabi, reporting on a company whose opportunities are almost unrecognizably greater than they were when I did the first quarter earnings call in 2023.

因此，現在我在阿布達比舉行了半夜的財報電話會議，報告一家公司的機會幾乎比我在 2023 年第一季財報電話會議時大得多。

The first quarter of 2024, was yet another record quarter for us in which we produced revenues which were about 12% greater than during the same period in the prior year, and more importantly, in which our gross profit showed the most remarkable improvement in our history. Our net loss narrowed and we exited the quarter with a healthy cash and working capital position.

2024 年第一季度，對我們來說又一個創紀錄的季度，我們的收入比去年同期增長了約 12%，更重要的是，我們的毛利顯示出最顯著的改善。我們的淨虧損收窄，本季結束時我們擁有健康的現金和營運資金狀況。

In the first quarter of 2024, we also added some excellent talent to our management team, particularly on the operations side, a move which we're confident will assist us in producing more product less expensively and further enhancing our gross profits.

2024年第一季度，我們也為我們的管理團隊增加了一些優秀人才，特別是在營運方面，我們相信此舉將幫助我們以更便宜的價格生產更多產品，並進一步提高我們的毛利。

We continue to sell our products to excellent customers, both in the United States and in Europe, and we saw a significant increase in the percentage of commercial business we do, not at the expense of our government business, but in addition to it.

我們繼續向美國和歐洲的優秀客戶銷售我們的產品，我們看到我們所做的商業業務的百分比顯著增加，這不是以犧牲我們的政府業務為代價，而是除此之外。

Product development continued to pace with important new patents issued to us on both the battery and EV charging infrastructure sides of our business. We made significant progress on our EV standard product and excitingly, the first stages of product development on a brand new product, which we hope to bring to market before the end of this year.

產品開發持續加快步伐，我們在電池和電動車充電基礎設施方面獲得了重要的新專利。我們的電動車標準產品取得了重大進展，令人興奮的是，全新產品的產品開發已進入第一階段，我們希望在今年年底前將其推向市場。

Returning to the numbers, our revenue for the first quarter of 2024, was $14.6 million, which is $1.5 million or a 12% increase over the first quarter in 2023, the highest revenue for any first quarter in our history. The great majority of that revenue came from EV ARC deliveries, as has been typical over previous quarters, but we did get interesting contributions from our European business and also from our batteries.

回到數字，我們 2024 年第一季的收入為 1,460 萬美元，比 2023 年第一季增加 150 萬美元，即 12%，這是我們歷史上第一季的最高收入。大部分收入來自 EV ARC 交付，就像前幾季的典型情況一樣，但我們確實從我們的歐洲業務和我們的電池中得到了有趣的貢獻。

The first quarter has often been our slowest, and that's particularly true of our European operations where historically their revenue and gross profit numbers have been fairly modest in the first quarter, but have grown throughout the remainder of the year. But the really big news from Q1 of 2024, is on the gross profit line.

第一季往往是我們最慢的季度，對於我們的歐洲業務尤其如此，從歷史上看，第一季的收入和毛利數字相當溫和，但在今年剩餘時間一直在增長。但 2024 年第一季真正的重大新聞是毛利。

During this quarter, we generated more gross profit than in any quarter in our history, and the improvement quarter-over-quarter and year-over-year far outstripped any such improvement previously. This gross profit improvement has come about as a result of the engineering and operational improvements which I've described to you in previous quarters. This is a perfect example of us doing what we tell you we're going to do and of the team executing on meaningful improvements which have a profound impact on our financial results.

在本季度，我們產生的毛利比歷史上任何一個季度都多，而且環比和同比的改善都遠遠超過了之前的任何此類改善。毛利的提高是我在前幾個季度向您描述的工程和營運改善的結果。這是一個完美的例子，說明我們正在按照我們告訴您的去做，團隊正在執行有意義的改進，這對我們的財務表現產生了深遠的影響。

There's still work to do, and I anticipate a continuation of improvements as the design enhancements, value engineering, and operational improvements are increasingly recognized in coming quarters. As many of you will remember, we've also instituted a price increase for the first time in our history of about 8.25% on our base model.

仍有工作要做，我預計隨著設計增強、價值工程和營運改進在未來幾季得到越來越多的認可，改進將繼續進行。你們中的許多人都記得，我們​​也對基本型號進行了歷史上首次提價，幅度約為 8.25%。

That's very important to point out that this price increase had no material impact on our gross profit improvements during Q1, because more than 96% of the units which we delivered to customers in that quarter were sold prior to the price increase taking effect, and therefore they will reduce sales price.

需要指出的是，這次漲價對我們第一季的毛利改善沒有產生重大影響，因為我們在該季度交付給客戶的產品中有超過 96% 在提價生效之前就已售出，因此他們將降低銷售價格。

To be clear, the majority of gross profit increase has come entirely from engineering and operational improvements, not increasing the price, so far, that is. Nevertheless, 96% of the units were sold prior to the price increase, which of course means that 4% of them did in fact have the 8.25% percent additional revenue on the base price of an EV ARC.

需要明確的是，到目前為止，大部分毛利成長完全來自工程和營運改進，而不是價格上漲。儘管如此，96% 的單位在價格上漲之前就已售出，這當然意味著其中 4% 的單位實際上在 EV ARC 基本價格的基礎上獲得了 8.25% 的額外收入。

That's an indication that we're moving into a period where our backlog, which was generated prior to the price increase, is starting to be exhausted. And we're moving into new backlog now, which will benefit from that price increase.

這表明我們正在進入一個時期，在價格上漲之前產生的積壓訂單開始耗盡。我們現在正在處理新的積壓訂單，這將受益於價格上漲。

There are a lot of moving parts, but some pretty basic arithmetic shows you that the combination of gross profit, which we generated in the first quarter, without the benefit of the price increase, when added to the increased revenue as a result of the price increase, should get us close to around 20% gross profit. And as I've said, we've got further improvements yet to make.

有很多變動的部分，但一些非常基本的算術顯示，我們在第一季產生的毛利潤的組合，沒有價格上漲的好處，當加上由於價格上漲而增加的收入時增加，應該會讓我們的毛利接近20%左右。正如我所說，我們還有進一步的改進要做。

While the percentage improvement in gross profit is significant. It's also important to look at the absolute dollars. We reported a net loss of $3 million for Q1. But in fact, the cash impact was far lower than that. Fully $1.1 million of our net loss was non-cash, meaning that our actual cash loss for the first quarter was less than $2 million, $1.9 million to be exact.

而毛利的百分比提升則相當顯著。查看絕對美元也很重要。我們報告第一季淨虧損 300 萬美元。但事實上，現金影響遠低於此。我們的淨虧損中有 110 萬美元全部是非現金損失，這意味著我們第一季的實際現金損失不到 200 萬美元，確切地說是 190 萬美元。

Again, doing some simple arithmetic, you can see that with 10% gross margin, we reported $1.5 million of gross profit. But that actually included some negative impacts from non-cash items as well. In fact, our gross profit net of non-cash items was closer to $1.8 million. We need about another $1.9 million to get to cash flow in an otherwise similar quarter. That's not a giant leap. And in fact, the combination of the price increase and the continued improvements to our gross margins should put us on an easy to understand trajectory to cash flow.

同樣，做一些簡單的算術，您可以看到，在毛利率為 10% 的情況下，我們報告的毛利為 150 萬美元。但這其實也包括非現金項目的一些負面影響。事實上，我們扣除非現金項目後的毛利接近 180 萬美元。我們還需要大約 190 萬美元才能在其他類似的季度獲得現金流。這並不是一個巨大的飛躍。事實上，價格上漲和毛利率的持續改善相結合，應該會讓我們走上一條易於理解的現金流軌跡。

This is our dominant area of focus and as I said during the full year 2023, earnings call, we're really going to be concentrating on efficiency and gross profitability this year because achieving positive cash flow is arguably one of the most important metrics for any business and particularly an innovator in a brand new industry.

這是我們重點關注的領域，正如我在2023 年全年財報電話會議上所說，今年我們確實將重點關注效率和毛盈利能力，因為實現正現金流可以說是任何企業最重要的指標之一。

By the way, while we're speaking about gross profitability, as I already mentioned, our European operations legacy business is typically slower in the first quarter than during any other period of the year. This is not terribly surprising as they've been producing street lights, communication towers, energy infrastructure and other street furniture which needs to be deployed in environments which are better suited towards those types of deployments during the summer and autumn months than they are in winter, particularly January and February.

順便說一句，當我們談論毛盈利能力時，正如我已經提到的，我們歐洲業務的傳統業務在第一季通常比一年中的任何其他時期都要慢。這並不奇怪，因為他們一直在生產路燈、通訊塔、能源基礎設施和其他街道設施，這些設施需要部署在夏季和秋季比冬季更適合此類部署的環境中，特別是一月和二月。

Beam Europe's legacy revenues generally pick up in the second and third quarter and historically they've had a marked improvement in gross profitability during those periods as well, which should further contribute to our company-wide profitability profile improvement.

Beam Europe 的傳統營收通常會在第二季和第三季回升，從歷史上看，這些時期的毛利利率也有顯著改善，這應進一步有助於我們全公司獲利狀況的改善。

One last point on Beam Europe and cash is how that transaction is affecting our working capital. Because we're a very simple company, working capital is generally an excellent proxy for cash, because we convert almost everything in working capital that isn't cash into cash so quickly. AR, inventory, work in progress, et cetera.

關於 Beam Europe 和現金的最後一點是這筆交易如何影響我們的營運資金。因為我們是一家非常簡單的公司，所以營運資金通常是現金的絕佳替代品，因為我們很快就能將營運資金中幾乎所有非現金的東西轉換成現金。AR、庫存、進行中的工作等等。

At this period, there's a misleading contributor to our decline in working capital and it has to do with the acquisition of Amiga or Beam Europe as it now is. Part of that transaction, and a very good transaction it was, don't forget we got the land and the buildings and the purchase price.

在此期間，我們的營運資金下降有一個誤導性的因素，它與現在收購 Amiga 或 Beam Europe 有關。作為交易的一部分，這是一筆非常好的交易，不要忘記我們得到了土地、建築物和購買價格。

By the way, it's so nice when I visit there, I don't have to think about lease payments. Instead, think about the wonderful growth opportunities that we have, and we don't have to ask a landlord's permission because the land and the buildings are on our balance sheet. But anyway, back to my point, a big part of that transaction are the earn-out payments for 2024 and 2025.

順便說一下，我去那裡真是太好了，我不用考慮租金的問題。相反，想想我們擁有的絕佳成長機會，我們不必徵求房東的許可，因為土地和建築物都在我們的資產負債表上。但無論如何，回到我的觀點，該交易的很大一部分是 2024 年和 2025 年的獲利付款。

We set some pretty high bars for the very excellent Beam Europe management team to hit, and if they do that, they get earn-out payments. I love crafting deals like that because it keeps everybody concentrating on our joint success.

我們為非常優秀的 Beam Europe 管理團隊設定了一些相當高的標準，如果他們做到了，他們就會獲得報酬。我喜歡制定這樣的交易，因為它讓每個人都專注於我們的共同成功。

Their earn-out payments are non-cash and entirely stock-based. Nevertheless, because we believe that they will hit their targets, those earn-out payments have become current liabilities for 2024. And as a result, we've taken a $4.3 million non-cash impact to our working capital balance.

他們的收益支付是非現金且完全基於股票。儘管如此，由於我們相信他們將實現目標，因此這些盈利付款已成為 2024 年的流動負債。因此，我們的營運資本餘額受到了 430 萬美元的非現金影響。

So if you're looking at our working capital and you see it coming down by $6 million in the period from 12/31 to 03/31, be absolutely clear that $4.3 million of that is non-cash. It's contingent consideration based upon our assumption that Beam Europe will hit their earnouts, which again are stock only.

因此，如果您查看我們的營運資金，發現從 12/31 到 03/31 期間減少了 600 萬美元，請絕對清楚其中 430 萬美元是非現金。這是基於我們假設 Beam Europe 將實現盈利的偶然考慮，而這些盈利又只是股票。

One contributor to our belief that they'll hit their targets is the very good news that the Beam Europe legacy business sales, purchase orders, I mean, are up by about 30% this year over typical years. We should benefit from that in the coming quarters as well.

我們相信他們將實現目標的一個因素是一個非常好的消息，即 Beam Europe 傳統業務的銷售、採購訂單，我的意思是，今年比往年增長了約 30%。我們也應該在未來幾季從中受益。

We'll also benefit from the fact that we've leveraged our balance sheet to allow our European operations to do something that they could never do before they became part of Beam Global, and that is create inventory for future periods.

我們也將受益於這樣一個事實：我們利用我們的資產負債表，讓我們的歐洲業務能夠做一些他們在成為 Beam Global 之前永遠無法做到的事情，那就是為未來時期創建庫存。

Previously, Beam Europe was an entirely cash-based operation with no debt and without even credit facilities with their vendors. As a result, during periods of slow sales, like the first quarter, they produced very little product, and yet they carried the overhead of their team members and facilities just the same. When sales picked up later in the year, they'd have to rapidly buy materials and rush to complete the products, often resulting in lower efficiency and increased costs due to contributions like overtime.

在此之前，Beam Europe 是一家完全以現金為基礎的業務，沒有債務，甚至沒有向供應商提供信貸服務。因此，在銷售緩慢的時期，例如第一季度，他們生產的產品很少，但他們卻承擔著團隊成員和設施的日常管理費用。當下半年銷售回升時，他們必須快速購買材料並趕著完成產品，這往往會導致效率降低，並且由於加班等貢獻而導致成本增加。

One of the first changes we instituted post-acquisition was to use our cash to create stocks of inventory of the most commonly acquired products that Beam Europe makes and sells. This has allowed us to keep the team working at a steady cadence and fully engaged during periods when they would otherwise be idle. It's also allowed us to create an inventory which would enable faster delivery to customers when the orders do pick up in the second and third quarters.

收購後我們進行的第一個變更是使用我們的現金來創建 Beam Europe 生產和銷售的最常收購產品的庫存。這使我們能夠保持團隊以穩定的節奏工作，並在他們閒置的時期充分投入。它還使我們能夠創建庫存，以便在第二季和第三季訂單增加時能夠更快地向客戶交付。

So we'll get the combined impact of lower costs to produce the product and more rapid delivery to expected customers. It's been an excellent and strategic use of Beam Global's balance sheet. And while it's resulted in a reduction in our cash position, which I know makes some people nervous if they don't look at the combination of cash and inventory, it's been absolutely the right thing to do and it will pay dividends in terms of increased revenue and improved gross profitability as the year progresses and we get all the cash back.

因此，我們將獲得更低的產品生產成本和更快地向預期客戶交付的綜合影響。這是對 Beam Global 資產負債表的優秀策略運用。雖然這導致我們的現金頭寸減少，我知道如果不考慮現金和庫存的組合，這會讓一些人感到緊張，但這絕對是正確的做法，而且它將在增加現金方面帶來紅利。的推移，收入和毛利潤率不斷提高，我們收回了所有現金。

Speaking of cash, we ended the quarter with $5 million in the bank having made the second of two cash payments to Amiga, which if you remember are combined with already completed equity payments. We also built up our inventories, I've just described, and shipped sufficient product at the end of the quarter to have about $20 million in accounts receivable. Of those $20 million, about half are due to us from three of our largest and most reliable customers. We're not worried about collecting from them or from any of the others.

說到現金，本季結束時，我們向Amiga 支付了兩筆現金支付中的第二筆，本季末我們銀行存款為500 萬美元，如果您還記得的話，這與已經完成的股本支付相結合。正如我剛才所描述的，我們還建立了庫存，並在季度末發貨了足夠的產品，應收帳款約為 2000 萬美元。在這 2000 萬美元中，大約一半是我們最大、最可靠的三個客戶欠我們的。我們不擔心從他們或其他任何人收集。

In fact, I anticipate collecting most of this money any day now, which will of course have a profound impact on our cash balance in a very positive way. So our cash position is healthy and our rapidly improving gross profits are moving us towards a position where our cash position becomes more or less of an existential issue because, as I mentioned earlier, we're on a clear and easy to understand path to cash flow.

事實上，我預計現在隨時都會收到大部分資金，這當然會對我們的現金餘額產生非常積極的深遠影響。因此，我們的現金狀況是健康的，我們快速提高的毛利正​​在使我們的現金狀況或多或少成為一個生存問題，因為正如我之前提到的，我們正走在一條清晰且易於理解的現金之路上流動。

Our operating expenses were only marginally higher than they were in the first quarter of 2023, even though we had some considerable unusual expenditures. Of course, we've added an overhead operation in Beam Europe, but it like our American operation, is very lean. And while we have a massive increase in opportunity we have a very modest increase in our operating costs as a result of that opportunity.

儘管我們有一些相當大的異常支出，但我們的營運支出僅略高於 2023 年第一季。當然，我們在 Beam Europe 增加了間接運營，但它和我們的美國運營一樣，非常精簡。儘管我們的機會大幅增加，但我們的營運成本卻因該機會而略有增加。

The most significant increase in our operating costs came as a result of our integration of a new ERP. This integration is a significant milestone for the company. It will make us far more efficient with the tangible result of further contributions to improve profitability and the ability to turn orders faster, more efficiently, and with less waste.

我們的營運成本成長最顯著的原因是我們整合了新的 ERP。此次整合對公司來說是一個重要的里程碑。它將使我們的效率大大提高，為提高盈利能力以及更快、更有效率、更少浪費地處理訂單的能力做出進一步貢獻，從而帶來切實的成果。

If you remove these extraordinary items, we actually trimmed our operational expenses even in the face of top-line growth and the further expansion of the business. Sales activities picking up again with our pipeline increasing to about $160 million today and backlog at 03/31 of around $20 million. During the first quarter, we announced new orders from the US Army, from the Department of Homeland Security, from the Federal Railroad Administration, from national parks, and from many other federal entities.

如果去掉這些特殊項目，即使面對營收成長和業務進一步擴張，我們實際上也削減了營運費用。銷售活動再次回升，目前我們的通路已增至約 1.6 億美元，截至 2031 年 3 月 31 日的積壓訂單約為 2,000 萬美元。在第一季度，我們宣布了來自美國陸軍、國土安全部、聯邦鐵路管理局、國家公園和許多其他聯邦實體的新訂單。

Several of these purchase orders were multi-million dollar orders, the most notable of which was a $7.4 million order from the US Army, which adds to the previous $30 million purchase order we received in 2022. We continue to receive orders from other state and municipal entities, and while we talk about budget uncertainty and the impact of the election year, our sales and pipeline are still robust on the government side of the business.

其中一些採購訂單價值數百萬美元，其中最引人注目的是來自美國陸軍的 740 萬美元訂單，這是我們在 2022 年收到的 3000 萬美元採購訂單的基礎上增加的。我們繼續收到其他州和市政實體的訂單，雖然我們談論預算不確定性和選舉年的影響，但我們的政府業務方面的銷售和管道仍然強勁。

Also encouragingly, during the first quarter, we saw significant increase in commercial orders, about 300% actually, which have come about as a result of our efforts to continue to diversify our revenue opportunities across the broadest possible base of customers.

同樣令人鼓舞的是，在第一季度，我們看到商業訂單大幅增長，實際上增長了 300% 左右，這是我們努力繼續在盡可能廣泛的客戶群中實現收入機會多元化的結果。

Probably the most exciting selling activity in the first quarter though was being issued a government contract from the United Kingdom Crown Commercial Services. Several aspects of this are exciting. First and foremost, it's our first large government contract in Europe and it's very similar to our federal GSA contract in that -- it enables the British government to buy our products without going through any further cumbersome processes.

第一季最令人興奮的銷售活動可能是英國皇家商業服務公司頒發的政府合約。這有幾個方面令人興奮。首先也是最重要的，這是我們在歐洲的第一份大型政府合同，與我們的聯邦 GSA 合同非常相似，它使英國政府能夠購買我們的產品，而無需經過任何進一步繁瑣的流程。

Secondly, and this is really where the rubber meets the road, it resulted almost immediately in a large order from the British Army for EV ARC products for their overseas bases. This was our first million-dollar order in Europe, marking a major milestone for the acquisition and growth there, just a few short months after we close on that transaction.

其次，這確實是橡膠與道路相遇的地方，英國陸軍幾乎立即為其海外基地訂購了 EV ARC 產品的大訂單。這是我們在歐洲的第一個百萬美元訂單，標誌著我們在歐洲的收購和成長的一個重要里程碑，就在我們完成交易後的短短幾個月內。

As I've said before, it took us about five years to get our $1 million order in the United States, less than five months to do the same thing in Europe. This is an indication of the rapid evolution in the EV Charging space, but also probably more importantly for us, it's a strong indication of the validity of the European market and our investment are moving into that, the world's largest market for our products at a time when we are increasingly recognized as an important player in the infrastructure space.

正如我之前所說，我們花了大約五年的時間才在美國拿到了價值 100 萬美元的訂單，而在歐洲卻花了不到五個月的時間。這表明電動車充電領域正在快速發展，但對我們來說更重要的是，這有力地表明了歐洲市場的有效性，我們的投資正在進入歐洲，這是我們產品的全球最大市場。越被認為是基礎設施領域的重要參與者。

We're also actually working on a couple of the largest opportunities we've ever worked on and interestingly both of them have been enabled by our acquisitions. They're not inked yet, but the level of serious interest in our offerings from equally serious players is very encouraging.

實際上，我們也致力於開發一些我們曾經開發過的最大的機會，有趣的是，這兩個機會都是透過我們的收購實現的。雖然尚未簽署，但同樣認真的玩家對我們的產品表現出了濃厚的興趣，這非常令人鼓舞。

You may have read about our recent utility scale battery storage seminar, which we conducted in Belgrade during the first quarter. It was attended by 40 or 50 regional leaders from energy and government, and the follow-up and level of interest we've received has exceeded my expectations, including some active opportunities which we are working on right now.

您可能已經讀過我們最近的公用事業規模電池儲存研討會，該研討會是我們第一季在貝爾格萊德舉辦的。來自能源和政府的 40 到 50 名地區領導人參加了這次會議，我們收到的後續行動和興趣程度超出了我的預期，包括我們現在正在努力的一些積極機會。

This is the perfect combination of the expertise and capabilities which we acquired with the AllCell Transaction and the relationships and new market opportunities which we acquired with the Amiga transaction, both combined with Beam Global's innovation and product engineering prowess.

這是我們透過 AllCell 交易獲得的專業知識和能力以及我們透過 Amiga 交易獲得的關係和新市場機會的完美結合，兩者都與 Beam Global 的創新和產品工程能力相結合。

As I started the call by saying, I've just spent a week in Serbia with Beam Europe and now in Abu Dhabi presenting a rapidly deployed EV charging and energy security products. The level of enthusiasm and serious interest that we're getting from major players is also very encouraging.

正如我在電話會議開始時所說的那樣，我剛剛在塞爾維亞與 Beam Europe 合作一周，現在在阿布達比展示了快速部署的電動車充電和能源安全產品。我們從主要參與者那裡得到的熱情和濃厚的興趣也非常令人鼓舞。

We're playing in a much larger arena. The stakes are much higher And we've done a fantastic job of positioning ourselves to be able to take advantage of opportunities, large and small, in the most active regions in the world for products like ours.

我們正在一個更大的舞台上比賽。風險要高得多，而且我們在定位自己方面做得非常出色，能夠在世界上最活躍的地區利用大大小小的機會，生產像我們這樣的產品。

Several of the opportunities that we're working on now are larger than anything that we've ever done before. And I believe that we're well positioned to continue to attract more of that sort of attention in the near future.

我們現在正在努力的一些機會比我們以前做過的任何事情都要大。我相信，我們有能力在不久的將來繼續吸引更多這類關注。

It was really very gratifying to see completed EV ARCs waiting to be placed in containers to be shipped to our customers from our European facilities. And it was also very gratifying to see more components of our brand new EV Standard product completed and waiting shipment to Chicago, where the Beam team will integrate our proprietary batteries, electronics, windmills, and solar components, which will complete those so that they're ready for demonstration at the beginning of the second half of 2024.

看到完成的 EV ARC 等待放入貨櫃中，從我們的歐洲工廠運送給我們的客戶，真是令人非常高興。我們也非常高興地看到我們全新的EV 標準產品的更多組件已完成並等待運送到芝加哥，Beam 團隊將在那裡整合我們專有的電池、電子設備、風車和太陽能組件，這將完成這些組件，以便他們「已準備好在 2024 年下半年年初進行演示。

Everyone on the sales teams in San Diego, Chicago, and Serbia is excited about demonstrating EV Standard to their customers and prospects. There have been some costs associated with these activities and we've used some cash to enable them. Is it worth it? Without question.

聖地牙哥、芝加哥和塞爾維亞銷售團隊的每個人都對向客戶和潛在客戶展示 EV 標準感到興奮。這些活動產生了一些相關成本，我們使用了一些現金來實現這些活動。值得嗎？毫無疑問。

One other interesting sales development in Europe is that we're working to add sales channels to our internal existing sales team. We met with two very good and highly qualified candidates while I was in Serbia and I'm very much looking forward to advancing our relationship with these quality groups.

歐洲的另一個有趣的銷售發展是我們正在努力為我們內部現有的銷售團隊添加銷售管道。我在塞爾維亞期間遇到了兩位非常優秀且高素質的候選人，我非常期待能推進我們與這些優質團體的關係。

They will act as a significant force multiplier with local presence in markets which we believe offer significant opportunities. And because they'll pay for performance on success, they'll not add to our SG&A and operating costs.

他們將成為重要的力量倍增器，在我們認為提供重大機會的市場中發揮本地影響力。而且因為他們會根據成功的績效付費，因此不會增加我們的 SG&A 和營運成本。

It makes a great deal of sense for us to do this in Europe because it's both a fast and somewhat dislocated market. But I can tell you that once we've got this model successfully integrated into our European operations, we intend to roll it out in the US as well.

對我們來說，在歐洲這樣做非常有意義，因為它是一個快速發展但有點混亂的市場。但我可以告訴你，一旦我們成功地將這個模式融入我們的歐洲業務中，我們也打算在美國推廣它。

Those sales channels, combined with our new products, new markets, and improved ability to execute, are all contributing to our being able to fish in a much larger pond. And I believe that this is going to put us in a position for continued and sustained growth.

這些銷售管道，加上我們的新產品、新市場和執行能力的提高，都有助於我們能夠在更大的池塘中釣魚。我相信這將使我們能夠持續成長。

So to sum up, we generated record first quarter revenue. We had by far the highest gross profit in our history. We executed on the engineering and operational improvements we promised. We managed our cash and used it to increase sales and improve gross profits. We continue to win patents and develop new products.

總而言之，我們第一季的營收創歷史新高。到目前為止，我們的毛利是歷史上最高的。我們執行了我們承諾的工程和營運改進。我們管理現金並用其增加銷售額和提高毛利。我們不斷贏得專利並開發新產品。

We've made tremendous strides in integrating our European acquisition and we're working on the largest and most exciting opportunities we've ever had. For the remainder of 2024, we will remain doggedly focused on efficiency and improving gross profitability above all other goals, with the ultimate goal of cash flow being our primary objective.

我們在整合歐洲收購方面取得了巨大進步，並且正在努力爭取有史以來最大、最令人興奮的機會。在2024年剩下的時間裡，我們將繼續堅定地專注於效率和提高毛利率，高於其他所有目標，現金流的最終目標是我們的首要目標。

I've never felt better about the global Beam team and I believe that even in the face of market uncertainty and chatter about weakness in EV sales and whatever Elon Musk's latest move has been that we will continue to operate with discipline and attain our goals.

我對全球Beam 團隊的感覺從未如此好過，我相信，即使面對市場的不確定性和有關電動車銷售疲軟的討論，以及無論馬斯克的最新舉措是什麼，我們都將繼續遵守紀律並實現我們的目標。

Thank you for your attention. And I'll now hand it back to the operator and take whatever questions you have for me. Please do limit yourself to one question and one follow-up, because I want to make sure that everybody has a chance to have their questions answered. Operator?

感謝您的關注。現在我將把它交還給接線員並回答您向我提出的任何問題。請務必將自己限制在一個問題和一個後續行動上，因為我想確保每個人都有機會得到他們的問題的答案。操作員？

(Operator Instructions) Sameer Joshi, H.C. Wainwright.

（操作員說明） Sameer Joshi, H.C.溫賴特。

Hi, Desmond, Lisa, how are you? Thanks for doing this late night from there. The question I have is about the backlog and the pipeline. How does it -- what does it comprise of geographically and also between AllCell, EV ARC and Amiga? And then for the pipeline, what do you consider pipeline? Are these requests or proposals that you have applied, you sender the proposals, or how do you define that?

嗨，戴斯蒙德，麗莎，你們好嗎？感謝您從那裡做這個深夜。我的問題是關於積壓和管道。它在地理上以及 AllCell、EV ARC 和 Amiga 之間是如何組成的？那麼對於管道，您認為管道是什麼？這些請求或提案是您已套用的、您發送的提案還是您如何定義的？

Yeah, so the backlog is still -- the majority of the backlog is still comprised of the Beam Global EV Charging Infrastructure products. So what you would consider to be more traditional Beam products. Backlog contribution from Beam Europe is about $3 million at 03/31. And they're going to be less of a backlog intensive business anyway because as I mentioned before, historically, they've always made and delivered product as they've contracted it.

是的，所以積壓訂單仍然存在——大部分積壓訂單仍然由 Beam Global 電動車充電基礎設施產品組成。那麼您會認為是更傳統的 Beam 產品。截至 03 月 31 日，Beam Europe 的積壓訂單貢獻約 300 萬美元。無論如何，他們將不再是積壓密集型業務，因為正如我之前提到的，從歷史上看，他們總是按照合約生產和交付產品。

So they have some sort of longstanding relationships with existing customers who come back to them and order stuff over and over again, but it doesn't really stay in backlog very long because it's generally produced and shipped off to the customer before too long.

因此，他們與現有客戶建立了某種長期關係，這些客戶會一次又一次地回到他們身邊訂購東西，但積壓的貨物並不會停留很長時間，因為它通常會在很短的時間內生產並運送給客戶。

As far as the question about the pipeline is concerned, we're quite strict about what pipeline is. Basically, in order to qualify to be in our pipeline, you need to be a customer who understands the product, has budget for the product, is qualified to make the buying decision and has given us the impression or has indicated to us that you are moving towards a purchase order.

就管道問題而言，我們對於管道是什麼是非常嚴格的。基本上，為了有資格加入我們的管道，您需要是了解產品、有產品預算、有資格做出購買決定並且給我們留下印像或向我們表明您是這樣的客戶。

So in other words, these are not just people who have expressed an interest, passing interest in our products or think we're cool or anything like that. These are active operating customers with budget, with authority, who've expressed an interest in moving towards a purchase order.

換句話說，這些人不僅僅是對我們的產品表達了興趣、一時興趣或認為我們很酷或類似的人。這些是有預算、有權力的活躍營運客戶，他們表示有興趣轉向採購訂單。

We actually have a pretty high pipeline to backlog conversion ratio. In other words, the actual -- all those customers who express an interest in the product and have budget, et cetera, historically, a higher proportion of them, in fact, a higher proportion than I've ever seen in any other business, have moved to backlog.

實際上，我們的管道與積壓訂單轉換率相當高。換句話說，實際上，所有那些對產品表示興趣並且有預算等的客戶，從歷史上看，他們的比例更高，事實上，比我在任何其他行業見過的比例都高，已轉至積壓狀態。

And so we have a pretty high degree of confidence that they will do that. Not all of them, of course, but we have a pretty high degree of confidence that a large percentage of them will do that. We have less confidence over is when they'll do that.

因此，我們非常有信心他們會做到這一點。當然，不是全部，但我們非常有信心他們中的很大一部分會這樣做。我們對他們何時會這樣做不太有信心。

And I can tell you that historically, we've had some customers who've told us that with absolute certainty, they're going to give us a purchase order at such and such a day. And it's been quite a bit later than we expected for various internal reasons on their own part.

我可以告訴你，從歷史上看，我們有一些客戶告訴我們，他們絕對肯定會在某天向我們發出採購訂單。由於他們自身的各種內部原因，這比我們預期的要晚得多。

And the other side of that coin, which unfortunately doesn't happen as often, is we've had customers who've hit us with purchase orders much faster than we expected. But in general, the pipeline is, I think, a good number and fairly conservative, although it's weighted obviously, all the way from somewhat low percentages all the way up to some that are close to near certainty.

不幸的是，硬幣的另一面並不經常發生，那就是我們的客戶向我們發出採購訂單的速度比我們預期的要快得多。但總的來說，我認為，管道的數量不錯，而且相當保守，儘管它的權重很明顯，從較低的百分比一直到一些接近確定的百分比。

Understood, thanks for that color. And just one more, the contribution from Amiga, I'm guessing, I think I heard you say you're expecting 30% or increase in purchase, or have experienced 30% increase in year-over-year purchase orders. And if we consider that the Amiga probably did return around $10-ish million last year, should we expect it to do around 30% over that amount this year?

明白了，謝謝你的顏色。還有一點，Amiga 的貢獻，我猜，我想我聽到你說你預計採購量會增加 30%，或者採購訂單同比增長 30%。如果我們考慮到 Amiga 去年的回報可能在 10 億美元左右，那麼我們是否應該期望它今年的回報將比這個數字高出 30% 左右？

Well, what I can certainly say are two things. First of all, yes, their actual purchase orders received year-to-date are up about 30% over their historical norm. And there's a lot of contributors to that. And I mentioned a couple of them during the call. Some of it is to do with the way we're using our balance sheet. Some of it is to do with the just increased confidence in them as a result of being part of the US and NASDAQ traded company.

嗯，我可以肯定地說的是兩件事。首先，是的，他們今年迄今收到的實際採購訂單比歷史正常水準增加了約 30%。對此有很多貢獻者。我在電話中提到了其中的幾個。其中一些與我們使用資產負債表的方式有關。部分原因在於，由於成為美國和納斯達克上市公司的一部分，人們對他們的信心增強了。

And then also we've been able to allow them, enable them to go out and sell more aggressively, take on more than they would have in the past. Because of course in the past they were essentially constrained by their cash flows.

然後我們也能夠允許他們走出去，更積極地銷售，承擔比過去更多的任務。當然，因為在過去他們基本上受到現金流的限制。

So it's a very positive move actually that's been very impactful. The acquisition has been very impactful for them in a really positive way. And I'm delighted by that. That doesn't necessarily tie in a straight-line to a 30% increase year-over-year revenues because these are just the purchase orders they've received year-to-date are up 30% over historical.

所以這是一個非常積極的舉措，實際上非常有影響力。此次收購對他們產生了非常正面的影響。我對此感到很高興。這並不一定意味著收入年增 30%，因為這些只是他們今年迄今收到的採購訂單比歷史增加了 30%。

However, the other metric that is very important to note and I might have sounded like I was belaboring this during my comments because I really want people to understand this was that we have this contingent consideration that $4.3 million which again is entirely non-cash, please underline that, that will be made in shares of Beam Global stock.

然而，另一個值得注意的指標，我可能聽起來像是我在評論中反覆強調這一點，因為我真的希望人們理解這一點，那就是我們有一個或有考慮因素，即430 萬美元，這又完全是非現金，請強調，這將以 Beam Global 股票的形式進行。

And again, this is exactly how I like to do these types of deals. We've got them for a relatively modest initial consideration, particularly in light of the fact that as I said we got the buildings and land and everything else as part of that transaction but they are in a position to do very well with their earn-out payments in equity.

再說一遍，這正是我喜歡進行此類交易的方式。我們最初對他們的考慮相對溫和，特別是考慮到正如我所說，作為交易的一部分，我們獲得了建築物、土地和其他一切，但他們能夠用自己的收入做得很好——以股本形式支付。

So they're sort of doubly encouraged to pull on the rope the way we want them to because A, they do well with these earnouts and B, the earnouts come in equity and Beam Global. So everything about that encourages them to support the company. By the way, I want to stress, we don't need to encourage them in that way.

因此，我們雙重鼓勵他們按照我們希望的方式拉繩子，因為 A，他們在這些收益方面做得很好，B，收益來自於股權和 Beam Global。因此，一切都鼓勵他們支持公司。順便說一句，我想強調，我們不需要以這種方式鼓勵他們。

These are -- I'm very, very happy with the Beam Europe management team. They're very, very enthusiastic about growing the business. And while we have these motivations in place, they're kind of icing on the cake. This is a highly motivated team who is really working hard to grow the business with us. I'm very happy about that.

我對 Beam Europe 管理團隊非常非常滿意。他們非常非常熱衷於發展業務。雖然我們有這些動機，但它們只是錦上添花。這是一支充滿幹勁的團隊，他們真正努力與我們一起發展業務。我對此感到非常高興。

But to go back to your question, the fact that we have that contingent consideration in place is a strong indication that we think that they're going to hit their earnouts and their earnouts are pretty aggressive. They had to get to about 135% actually of what they did prior year to hit their earnout in 2024, and in 2025, they have to get to 135% of that again.

但回到你的問題，我們有這種或有考慮的事實強烈表明，我們認為他們將達到他們的收益，而且他們的收益相當激進。他們必須達到去年實際收入的 135% 左右，才能在 2024 年實現收入，而到 2025 年，他們必須再次達到去年的 135%。

So we're signaling that we believe that they're going to hit those earn-outs, do everything we can to help them do that. And I hope a very large percentage of it, and in fact I'm confident a very large percentage of it will come from selling the new product sets that Beam Global is bringing into that market.

因此，我們表示我們相信他們會實現這些目標，並盡一切努力幫助他們實現這一目標。我希望其中很大一部分，事實上，我相信其中很大一部分將來自銷售 Beam Global 引入該市場的新產品組。

While we continue to grow their legacy business, you can feel fairly confident that's going to happen because of course we've already done [$1 million] in EV ARC sales there. So they're clearly off to a good start with an increase in sales and then the additional revenues coming from the EV ARC sales that we already know are in the bag, we're going to start delivering them at the end of this month.

在我們繼續發展他們的傳統業務的同時，您可以相當有信心這將會發生，因為當然我們已經在那裡完成了 [100 萬美元] 的 EV ARC 銷售。因此，他們顯然有了一個良好的開端，銷量增加，然後我們已經知道來自 EV ARC 銷售的額外收入已經囊括在內，我們將在本月底開始交付它們。

But we expect that a whole lot more will come from that this year too. And as I said, I'm looking forward to the main earn-out. The earn-out reliability is the best liability that an acquiring CEO can have. It's far better than writing down your acquisitions, which is not something we do. We pay that on our own notes.

但我們預計今年也會有更多的成果。正如我所說，我期待著主要的收益。獲利可靠性是收購執行長所能承擔的最好責任。這比寫下您的收購要好得多，而我們不做這件事。我們用自己的票據支付。

Yeah, no, I agree with that. Thanks for that color and good luck.

是的，不，我同意這一點。謝謝你的顏色，祝你好運。

Thank you very much.

非常感謝。

Tate Sullivan, Maxim Group.

泰特·沙利文，馬克西姆集團。

Thank you, Desmond. Hi, good. It's great to hear from you. I think you just said actually that you're starting to deliver your first European EV ARCs at the end of this month, and it sounds like was there any adjustment or inefficiencies at the beginning of making the EV ARCs in Europe please?

謝謝你，德斯蒙德。嗨，很好。很高興收到你的來信。我認為您剛才實際上說過，您將在本月底開始交付第一批歐洲 EV ARC，聽起來在歐洲製造 EV ARC 之初是否有任何調整或效率低下？

Yeah, I mean, I actually saw the units. Yeah, I saw the units that are getting ready to get loaded into shipping containers and head out here at the end of this month. In fact, just to give you more detail than perhaps you want, we're just waiting for the [EVSC] from the vendor, the actual charger itself. As soon as we get those, we'll install those and they'll let off to their customer.

是的，我的意思是，我確實看到了這些單位。是的，我看到這些設備正準備裝進貨櫃，並在本月底運往這裡。事實上，只是為了給您比您想要的更多詳細信息，我們只是在等待供應商提供的 [EVSC]，即實際的充電器本身。一旦我們得到這些，我們就會安裝它們，然後他們就會交給客戶。

Was there any inefficiency? Yes. There's nowhere near as efficient as it's going to get in the beginning. These are the first units they made, but the quality is very, very good and the end product is excellent and I'm thrilled to bits frankly that it's happened as quickly as it's happened.

有沒有效率低的情況？是的。遠沒有一開始那麼有效率。這些是他們製造的第一批產品，但品質非常非常好，最終產品也非常出色，坦白說，我很興奮，這一切發生得如此之快。

And I think there's a couple of things that are really important to point out there. We self-performed in Europe some really significant tasks that we have always done through outsourcing in the United States, really expensive significant tasks that we've been outsourcing in the United States.

我認為有幾件事需要指出。我們在歐洲自行執行了一些非常重要的任務，這些任務我們一直在美國外包，這些任務非常昂貴，我們一直在美國外包。

So the economics, taking out the inefficiencies because of the first ones that we've done, and you're right to point that out. But beyond that, what we're seeing is that the economics for producing EV ARCs in our Serbian facilities are far superior to the economics of doing it in the United States.

因此，從經濟學角度來說，除去我們所做的第一批工作所造成的低效率，你指出這一點是對的。但除此之外，我們看到的是，在我們的塞爾維亞工廠生產 EV ARC 的經濟效益遠遠優於在美國生產的經濟效益。

And remember, all the gross profit improvement we've just announced has come from our US operations. We didn't see any benefit from the Serbian. First of all, because we haven't even recognized the revenue on them. We'll do that obviously when we deliver. But I'm anticipating that those inefficiencies are reduced rapidly.

請記住，我們剛剛宣布的所有毛利改善都來自我們的美國業務。我們沒有看到塞爾維亞人有任何好處。首先，因為我們甚至還沒有確認它們的收入。當我們交付時，我們顯然會這樣做。但我預計這些低效現象會迅速減少。

Again, it's a very motivated team with a great history of producing a lot of stuff inexpensively and with a lot of efficiency. And then because of these economics improvements, because of the largely due to the self-performance of some really expensive outsourced tasks in the US, I'm hoping for a much better gross profit profile in our European operations than in the US.

再說一次，這是一個非常積極進取的團隊，有著以低廉的成本和高效率生產大量產品的悠久歷史。然後，由於這些經濟改善，主要是由於美國一些非常昂貴的外包任務的自我績效，我希望我們歐洲業務的毛利狀況比美國業務好得多。

Well, we'll continue to improve in the US, but the company-wide impact of that will be, we should get better gross profitability from those units that we produce in our Serbian facilities and ship all over Europe and further [afield] than we do with the ones that we make in the US.

好吧，我們將繼續在美國取得進步，但這對全公司範圍的影響將是，我們應該從我們在塞爾維亞工廠生產並運往歐洲各地和更遠地區的那些單位中獲得更好的毛利率我們用的是我們在美國生產的產品。

And yet, as I said, the sort of move to cash flow that I described in my earlier comments was based on my US Assumptions. So Europe should only make that better. So yes, a little bit of inefficiency in the beginning, but a great product, very well made, very good quality, and as I say, clear opportunities for much better economics moving forward.

然而，正如我所說，我在先前的評論中描述的那種向現金流的轉變是基於我的美國假設。因此，歐洲應該讓這一點變得更好。所以，是的，一開始效率有點低，但這是一個偉大的產品，製作精良，品質非常好，正如我所說，為未來更好的經濟效益提供了明確的機會。

Thank you, Desmond.

謝謝你，德斯蒙德。

Thank you, Tate.

謝謝你，泰特。

Chris Pierce, Needham & Company.

克里斯皮爾斯，李約瑟公司。

On gross margins, from here, is it as simple as the more EV ARCs you sell, the higher your gross margins go because you're absorbing fixed costs on top of the price increase that you have, or are there further engineering kind of efficiencies that you can drive out as far as the San Diego production?

從這裡開始，就毛利率而言，是否就像您銷售的EV ARC 越多，毛利率就越高一樣簡單，因為除了價格上漲之外，您還吸收了固定成本，或者是否有進一步的工程效率你可以開車去聖地牙哥生產嗎？

Both, definitely both. There's no question the more we produce the better we get from a gross profit point of view because of fixed overhead allocations, absorption. And it's more than that. The more of them we produce, the more stuff we buy, the better buying we get, the better purchasing we get.

兩者，絕對是兩者。毫無疑問，由於固定的間接費用分配和吸收，從毛利的角度來看，我們生產的產品越多，我們獲得的收益就越好。不僅如此。我們生產的產品越多，我們購買的東西就越多，我們購買的東西就越好，我們購買的東西就越好。

And that's another reason the European expansion has been helpful because a lot of the stuff that we're buying will be common in both markets coming from common vendors. But yes, there are still further improvements that we can make that we've yet to recognize.

這是歐洲擴張有幫助的另一個原因，因為我們購買的許多東西在兩個市場上都是常見的，來自共同的供應商。但是，是的，我們仍然可以做出一些尚未認識到的進一步改進。

And we're going to -- as I said, ruthlessly go after that. This year for us is really going to be much more about getting more efficient and reducing our COGS. I mean, we've always had a laser focus on operating costs. As everybody is aware, we're an extremely lean company. We're an operating side of things, but COGS, we're going to be laser focused on continuing to reduce those, but not the expensive quality.

正如我所說，我們將無情地追求這一目標。今年對我們來說確實將更加重視提高效率和降低銷售成本。我的意思是，我們一直非常關注營運成本。眾所周知，我們是一家極為精簡的公司。我們是營運方，但銷貨成本，我們將專注於繼續減少這些成本，而不是昂貴的品質。

So you are going to get further gross profit improvement contribution from both things. The more we make, the more of that overhead allocation is absorbed, but also further engineering enhancements.

因此，您將從這兩件事中獲得進一步的毛利改善貢獻。我們做得越多，吸收的間接費用分配就越多，而且工程技術也得到了進一步的改進。

Okay. What can you share about the EV standard margin profile or the strategy there? Is that going to be some sort of, I don't want to use the term loss leader, but it's a new product that you're introducing to the market and it's a new manufacturing product.

好的。關於電動車標準保證金概況或其中的策略，您能分享什麼嗎？我不想使用「虧損領導者」一詞，但這是您要向市場推出的新產品，而且是新的製造產品。

You're talking about the second half of this year, demoing it, like what's the right way to think about the margin trajectory of that product versus the margin trajectory of the EV ARC product?

您談論的是今年下半年的演示，例如考慮該產品的利潤率軌跡與 EV ARC 產品的利潤率軌蹟的正確方法是什麼？

Yeah, definitely do not intend for it to be a loss leader. However, there's no question that the earliest units that we make will be the most expensive that we ever make. And frankly, these first units that we're producing right now, the betas, that we're going to use to demonstrate the product which will be how we'll make our first sales.

是的，絕對不打算讓它成為虧損的領導者。然而，毫無疑問，我們製造的最早的設備將是我們製造過的最昂貴的設備。坦白說，我們現在正在生產的第一批產品，即測試版，我們將用它來展示產品，這將是我們首次銷售的方式。

It's a very attractive, very striking looking product. I can't wait to make it public having seen it now myself. But we've already identified, as you might expect, we've already identified areas that where we're going to be much more efficient in the future models that we make.

這是一款非常有吸引力、外觀非常引人注目的產品。我現在已經親眼目睹了它，迫不及待地想將其公開。但正如您所期望的那樣，我們已經確定了我們在未來製造的模型中將提高效率的領域。

But I'm pretty confident that the first ones we sell will come out with good unit economics and then we'll rapidly do value engineering on the product and widen the gap between our revenue and our costs. I expect that we will actually generate more gross from the EV Standard product in the future than from any other product in our lineup that we have to-date.

但我非常有信心，我們銷售的第一批產品將具有良好的單位經濟效益，然後我們將迅速對產品進行價值工程，並擴大我們的收入和成本之間的差距。我預計，未來我們從電動車標準產品中獲得的總收入實際上將比我們迄今為止產品陣容中的任何其他產品都要多。

Because I do think it will be a higher volume product. The sales of it are going to be more complex because unlike the EV ARC, it's not something that you can just drop off in an hour and walk away from and turning to operate.

因為我確實認為這將是一個產量更高的產品。它的銷售將會更加複雜，因為與 EV ARC 不同，它不是你可以在一小時內放下並走開然後轉身操作的東西。

I think that will probably mean that we'll do less of the sort of onesie-twosie type sales with the EV standards. I think it's more likely to be deployed in almost a network fashion. Although there are still good opportunities, shopping malls, airports and other places like that for some smaller volume stuff, but I do think that when we are talking about municipal type deployments, it will come in larger volume and the sales cycles will be longer.

我認為這可能意味著我們將減少電動車標準的連身兩件式銷售。我認為它更有可能以幾乎網路的方式部署。雖然對於一些小批量的東西來說，仍然有很好的機會，購物中心、機場和其他類似的地方，但我確實認為，當我們談論市政類型的部署時，它的批量會更大，銷售週期也會更長。

But at the end of the day, while the sales cycles might be longer, the volume, I believe will be larger. And again, I think that's going to be an area that we're going to be able to squeeze a lot of gross profitability.

但歸根結底，雖然銷售週期可能會更長，但我相信銷量會更大。再說一遍，我認為這將是我們能夠榨取大量毛利的領域。

Do you envision a distribution model, like a sales partner channel model, or do you envision direct sales model?

您是否設想一種經銷模式，例如銷售合作夥伴通路模式，或您是否設想直銷模式？

It's only direct in the beginning, but as I mentioned in my comments, we are actively pursuing two very well-qualified channels in Europe right now and that's a model which I'm very much in favor of -- we've been a bit hesitant to do that in the United States previously for a whole host of reasons. We just weren't really ready for it.

一開始只是直接的，但正如我在評論中提到的，我們現在正在歐洲積極尋求兩個非常合格​​的管道，這是我非常贊成的模式 - 我們已經有點此前，由於多種原因，在美國猶豫是否要這樣做。我們只是還沒有真正準備好。

And it's from just a materials-wise and history-wise and ability to just shift the selling process to outsiders. We weren't really ready for it. But we've got some very motivated partners that we're in the process of negotiating with in Europe right now.

這僅僅來自於材料方面和歷史方面以及將銷售流程轉移給外部人的能力。我們還沒有真正準備好。但我們目前正在歐洲與一些非常積極的合作夥伴進行談判。

One group actually is a group that I've been speaking to for a couple of years already. And then another one is a partner that we picked up as a result of our acquisition of Amiga, which is now in Europe. And that's going to -- I think be profoundly impactful for us because obviously we've had a limited number of salespeople that are selling our product up until now.

其中一個團體其實是我已經交談過幾年的團體。另外一個是我們收購 Amiga 後找到的合作夥伴，Amiga 現在位於歐洲。我認為這將對我們產生深遠的影響，因為顯然到目前為止我們銷售我們產品的銷售人員數量有限。

This force multiplication ought to get a lot more people talking about it, much broader audience. And we know people like it when they understand it, so getting it in front of more people is clearly going to be a good thing for us, particularly in light of the fact that, as I said, it will be performance-based.

這種力量的倍增應該會讓更多的人、更廣大的受眾談論它。我們知道，當人們理解它時，他們就會喜歡它，所以將它呈現在更多人面前顯然對我們來說是一件好事，特別是考慮到正如我所說的，它將基於性能。

We won't be adding to our costs -- to our operating costs as a result of this because they'll get paid when they sell. And yes, I intend to do that with the EV Standard as well as with the EV ARC, or other products.

我們不會因此增加我們的成本——我們的營運成本，因為他們在出售時會得到報酬。是的，我打算透過 EV 標準以及 EV ARC 或其他產品來做到這一點。

Okay. And just last one for me, on the $4.3 million non-cash that you mentioned a couple of times, is the right way to think about that as 50% of the dilution is at the end of this year and 50% next year? Or what's the right way to (inaudible) of the shares that you're issuing to the Amiga shareholder, to the Amiga company.

好的。對我來說，最後一個問題是，關於您多次提到的 430 萬美元非現金，考慮這個問題的正確方法是，因為 50% 的稀釋是在今年年底，50% 是明年？或者您向 Amiga 股東、Amiga 公司發行股票的正確方式是什麼（聽不清楚）。

Yeah, and listen, I apologize for belaboring this point, but -- you end up with an awful lot of questions about cash after these calls, and I seem to spend a great amount of time explaining to people things that are non-cash impactful. So my apologies to those of you who grasp that very quickly. This is I'm speaking to those of you who don't.

是的，聽著，我為重複這一點而道歉，但是——在這些電話之後，你最終會提出很多關於現金的問題，而且我似乎花了很多時間向人們解釋那些與現金無關的事情。因此，我向那些很快就掌握了這一點的人表示歉意。這是我正在對那些不這樣做的人說的。

But no – this -- the $4.3 million that you've heard about is a current liability. So therefore we believe it's going to be in fact for the next 12 months. And that's why, and as Lisa made in her comments -- said in her comments, we had moved it into current liabilities within this year because we believe that this is an impact which could take place as a result of the 2024, earnouts.

但事實並非如此——您聽說過的 430 萬美元是流動負債。因此，我們相信未來 12 個月確實會如此。這就是為什麼，正如麗莎在她的評論中所說的那樣，我們在今年內將其轉移到流動負債，因為我們相信這是 2024 年盈利可能產生的影響。

2025, will be another matter again. And again, I can't stress strongly enough, I want them to hit their earnouts. If they hit their earnouts, it's because we've had really significant growth in those markets. And I'm going to do everything I can to make them successful to do that. Because if they're successful, it means we're successful and vice versa.

2025年，又是另一回事了。再說一遍，我的壓力再怎麼強調也不過分，我希望他們能達到自己的目標。如果他們實現了盈利，那是因為我們在這些市場上取得了真正顯著的成長。我將盡一切努力讓他們成功做到這一點。因為如果他們成功了，就代表我們成功了，反之亦然。

Okay. Same pitch. I appreciate the color. Thank you.

好的。相同的音調。我很欣賞它的顏色。謝謝。

Thank you, Chris.

謝謝你，克里斯。

Craig Irwin, Roth Capital.

克雷格歐文，羅斯資本。

Hey, this is Andrew on for Craig. And before I get started here, it's kind of ironic, I saw my first EV ARC in the wild in Manhattan today. So maybe a good sign.

嘿，這是克雷格的安德魯。在我開始之前，有點諷刺的是，我今天在曼哈頓的野外看到了我的第一台 EV ARC。所以也許是個好兆頭。

We'll give you a (inaudible). Welcome to the club.

我們會給你一個（聽不清楚）。歡迎來到俱樂部。

Thank you. A lot has been covered here. I think just one more thing I want to touch on Europe. Looks like you've had some really good early progress in the UK. And I just wanted to see if you could talk about the opportunities there and maybe other specific geographies or countries in the EU that you're excited about?

謝謝。這裡已經涵蓋了很多內容。我想我還想談談歐洲的一件事。看起來你在英國已經取得了一些非常好的早期進展。我只是想看看您是否可以談談您感興趣的那裡以及歐盟其他特定地區或國家的機會？

Yeah, so the first thing I want to be absolutely clear is that while I'm thrilled to bits that the UK Ministry of Defence has acquired our product, I'm thrilled to bits that we have a contract with the British government now which is like our GSA contract with the federal government, and I'm thrilled to bits that the British Army is going to be using our products in their overseas bases. It has nothing to do with my country of national origin. We didn't win this because I'm British.

是的，所以我要絕對明確的第一件事是，雖然我對英國國防部購買了我們的產品感到興奮，但我對我們現在與英國政府簽訂的合約感到興奮就像我們與聯邦政府簽訂的GSA 合約一樣，我很高興英國陸軍將在其海外基地使用我們的產品。這與我的祖國無關。我們沒有贏得這場比賽，因為我是英國人。

We won it actually through the merits of the product. The UK Ministry of Defence and the British Army heard about the product because they know that the US Army is using it and they have very similar needs. So it is a great win for us. I believe it's just the beginning of what we are going to do with them. They just like all other European countries and just like the US federal government for that matter have pretty stringent mandates on moving to zero-emission vehicles and in pretty short time frames.

我們實際上是透過產品的優點贏得了它。英國國防部和英國陸軍聽說了該產品，因為他們知道美國陸軍正在使用它，而且他們的需求非常相似。所以這對我們來說是一場偉大的勝利。我相信這只是我們將要對它們做的事情的開始。就像所有其他歐洲國家一樣，就像美國聯邦政府一樣，他們對在很短的時間內轉向零排放車輛有相當嚴格的要求。

In fact, I think the UK government's very similar to the federal government in that by 2027, their light duty vehicles, non-tactical light duty vehicles across the government have to be zero-emission vehicles, which essentially means electric. There isn't any other contender, except in a few very, very niche cases where hydrogen will play a role.

事實上，我認為英國政府與聯邦政府非常相似，到2027年，他們的輕型車輛、整個政府的非戰術輕型車輛必須是零排放車輛，這本質上意味著電動車輛。除了在一些非常非常小眾的情況下氫將發揮作用之外，沒有其他競爭者。

So I think it's a great first step for us. And oddly enough, we're not deploying in the UK. We're deploying in the overseas bases for them with this product. I do think the EV Standard will be a very good solution, which is the Streetlight product will be a very good solution for the UK.

所以我認為這對我們來說是偉大的第一步。奇怪的是，我們沒有在英國部署。我們正在為他們在海外基地部署這個產品。我確實認為電動車標準將是一個非常好的解決方案，這對英國來說街燈產品將是一個非常好的解決方案。

And in fact, for all Northern European countries, that was a big background for development of the EV Center product was that I think it's a very good fit for Northern European vertical cities because we have the introduction of light wind, now as well to generate electricity as well as solar, but also because its profile fits in environments where you don't have large surface parking lots, which we have in the US, but you don't really see them in most cities over in Europe.

事實上，對於所有北歐國家來說，開發電動車中心產品的一個重要背景是，我認為它非常適合北歐垂直城市，因為我們引入了輕風，現在也可以發電電力和太陽能，而且還因為它的外形適合沒有大型地面停車場的環境，我們在美國有這樣的停車場，但在歐洲的大多數城市你並沒有真正看到它們。

As far as geographical areas of Europe are concerned, Spain and Portugal, Mediterranean countries definitely. And then the Balkan region has been very fruitful for us in terms of opportunities as I mentioned, we did the utility battery seminar -- utility scale battery seminar here in the first quarter brought

就歐洲的地理區域而言，西班牙和葡萄牙肯定是地中海國家。正如我所提到的，巴爾幹地區在機會方面對我們來說非常富有成效，我們在第一季舉辦了公用事業電池研討會——公用事業規模電池研討會帶來了

Dr. Said Al-Hallaj who was the -- our Chief Battery Scientist. He was the former founder and CEO of AllCell Technologies that we acquired. We brought him over here and we did a presentation to, as I said, 40 or 50 leaders from the energy and government space in the Balkans.

Said Al-Hallaj 博士是我們的首席電池科學家。他是我們收購的 AllCell Technologies 的前創始人兼執行長。我們把他帶到這裡，正如我所說，我們向巴爾幹半島能源和政府領域的 40 或 50 名領導人做了演講。

And the need is very acute here. They have a rule which says -- if they do any large-scale solar or wind or renewable deployments, those now have to be accompanied by large-scale utility, scale battery storage. That's an area of expertise that we have and it's going to be a new area of business for us but we are going after it and the projects are very meaningful in terms of revenue, very meaningful.

這裡的需求非常迫切。他們有一條規則，如果他們進行任何大規模的太陽能、風能或再生能源部署，現在必須配備大規模公用事業、大規模電池儲存。這是我們擁有的專業知識領域，這對我們來說將是一個新的業務領域，但我們正在追求它，這些項目在收入方面非常有意義，非常有意義。

So as I said, the response to that seminar was better than I expected and we're actively engaged now. Not inked, it has to be said, not inked and as I tell the sales team all the time, until there's [ink it stinks]. But I've also been doing this sort of stuff for long enough to know that when you get the level of interest that we've got, something tends to drop. So feeling really good about that.

正如我所說，該研討會的反應比我預期的要好，我們現在正在積極參與。必須說，沒有墨水，沒有墨水，正如我一直告訴銷售團隊的那樣，直到有[墨水很臭]。但我做這類事情也已經足夠長的時間了，我知道當你達到我們所擁有的興趣水平時，有些東西往往會下降。所以感覺真的很好。

So Europe in general is a very large opportunity for us. That's why we came over here. It's fantastic that we were able to buy a company that cash flowed it was already profitable. It's fantastic that we've been able to put some great assets on our balance sheet.

因此，總體而言，歐洲對我們來說是一個非常大的機會。這就是我們來這裡的原因。我們能夠收購一家現金流充足且已經獲利的公司真是太棒了。我們能夠將一些重要資產納入我們的資產負債表，這真是太棒了。

And fantastic that we've been able to have such an impact on them already just by freeing them up to do more business. But the real win here, without a doubt, is going to be the EV Charging and energy storage solutions that we're going to be able to bring to this market.

令人驚訝的是，我們僅僅透過讓他們有時間做更多的業務就能夠對他們產生如此大的影響。但毫無疑問，真正的勝利將是我們能夠為這個市場帶來的電動車充電和能源儲存解決方案。

And not just this market. I'm not in Abu Dhabi because I like the weather here. There's a massive opportunity in the Middle East as well, and a great deal of money is being spent here on sustainability projects. I mean, just look up projects like NEOM, look at Masdar Energy, massive amounts of money being spent here on stuff, and our products are very, very well suited for this market as well.

而且不只是這個市場。我不在阿布達比，因為我喜歡這裡的天氣。中東也存在著巨大的機遇，這裡的永續發展計畫投入了大量資金。我的意思是，只要看看像 NEOM 這樣的項目，看看馬斯達​​爾能源公司，這裡投入了大量的資金在這些東西上，我們的產品也非常非常適合這個市場。

And then frankly, that's a gateway to Africa. So when I said in the call that I'm speaking to you today as a CEO of a company that has a much larger arena, much larger opportunity set in front of us. These are not idle words, it's a fact.

坦白說，這是通往非洲的門戶。因此，當我在電話中說，我今天作為一家公司的執行長與你們交談時，我們面前有一個更大的舞台、更大的機會。這些不是閒話，而是事實。

Great, well, thanks for the color, and congrats on the strong margin progress. I'll hop back in the queue.

太好了，謝謝你的顏色，並祝賀利潤的強勁增長。我會跳回到隊列中。

Really appreciate it, Thanks, Andrew.

真的很感激，謝謝，安德魯。

Noel Parks, Tuohy Brothers.

諾埃爾·帕克斯、圖伊兄弟。

Hi, Desmond. Good to talk to you. Just a couple things. You've touched on it a bit, but the meetings with potential customers that you had in Serbia, I wonder if you could just characterize the customers a little bit more and their priorities?

嗨，戴斯蒙德。很高興和你說話。只是幾件事。您已經談到了一點，但是您在塞爾維亞與潛在客戶的會面，我想知道您是否可以更多地描述一下客戶的特徵以及他們的優先事項？

Yeah, so I'm not going into too much detail. It wasn't just Serbia, but certainly it was from that base of operations. The customers are very like the profile with whom we've had a great deal of success in the United States. So there are people who are in control of environments where there's a lot of parking, a lot of people with vehicles for one reason or another.

是的，所以我不會講太多細節。不只是塞爾維亞，肯定是來自那個行動基地。客戶非常喜歡我們在美國取得巨大成功的客戶形象。因此，有人控制著有大量停車位的環境，因為這樣或那樣的原因，很多人擁有車輛。

And of course, there's a great deal of pressure in Europe to move towards electrification of transportation because the Europeans have passed a law -- outlawing the sale of all but zero-emission vehicles in 11 years from now.

當然，歐洲面臨著推動交通電氣化的巨大壓力，因為歐洲人已經通過了一項法律——從現在開始的 11 年內禁止銷售除零排放車輛以外的所有車輛。

That's obviously a massive undertaking to move from internal combustion engine vehicles to zero-emission vehicles, which again means electric vehicles. There isn't an option, not a serious option in just 11 years, a massive amount of infrastructure is going to be required. And people over here, I shouldn't say over here because I'm not over here, I'm further south right now, but people in that part of the world are under just the same sort of pressure as we are in the United States.

從內燃機汽車轉向零排放汽車（這又意味著電動車）顯然是一項艱鉅的任務。在短短 11 年內，沒有任何選擇，不是一個嚴肅的選擇，將需要大量的基礎設施。這裡的人們，我不應該說在這裡，因為我不在這裡，我現在在更南的地方，但是世界那個地區的人們承受著與我們在美國相同的壓力國家。

Same considerations, lack of capacity, difficulty in connecting to circuits, not enough electricity on the grid for electrification and transportation, risk from blackouts, risk from foreign sources of fuel to make electricity, even more complicated to dig up the streets and go through the permitting and all those things. And then interconnection with utility interconnection, even more complicated than it often is in the United States.

同樣的考慮，容量不足，電路連接困難，電網上沒有足夠的電力用於電氣化和運輸，停電的風險，外國燃料來源的發電風險，甚至更複雜的是挖掘街道並穿過街道允許和所有這些事情。然後是與公用事業互連的互連，甚至比美國通常更複雜。

So they've all got the same considerations exactly as the customer profiles that we've been dealing with in the United States. And it's quite infusing to see the relief on their face when they find out that there's an option and particularly an option that's going to be produced in market. This is also the same with the battery side of the business, our ability to be an American company but that's producing locally in the Balkans is definitely a great benefit for us.

因此，他們的考慮因素與我們在美國處理的客戶資料完全相同。當他們發現有一個選擇，特別是一個即將在市場上生產的選擇時，看到他們臉上如釋重負，真是令人興奮。電池方面的業務也是如此，我們作為一家美國公司的能力，但在巴爾幹半島本地生產對我們來說絕對是一個巨大的優勢。

And one other thing I just want to point out on that, before I came over to Europe I was in Washington DC and one of the many meetings I had in Washington, DC, was with the IDFC, which is International Development Finance Corporation, which is an arm of the federal government which provides low costs and long-term financing for projects which the US believes is in their interest. It's typically been for developing markets historically. But one thing that's interesting is that sustainable energy projects in the Balkans is within their remit.

我想指出的另一件事是，在我來到歐洲之前，我在華盛頓特區，我在華盛頓特區舉行的眾多會議之一是與 IDFC（國際開發金融公司）舉行的會議。 ，為美國認為符合其利益的項目提供低成本和長期融資。從歷史上看，它通常適用於發展中市場。但有趣的一件事是，巴爾幹地區的可持續能源計畫屬於他們的職權範圍。

And so I was able to leave that meeting with an assurance from them that with very large sums of money available to us, low interest rates and long terms to finance these types of projects, large utility scale battery projects, for example, in the Balkans.

因此，我在會議結束時得到了他們的保證，我們可以提供大量資金、低利率和長期資金來為此類項目、大型公用事業規模電池項目提供資金，例如在巴爾幹半島。

So one thing that I didn't touch on in my comments is we still have our credit facility available to us and that's very inexpensively priced. It's sold for plus 300 basis points, which is certainly not as cheap as it was when I negotiated, but that's still there. Untapped, $100 million. We haven't used it, but it's there for these types of projects and that sort of stuff.

因此，我在評論中沒有提及的一件事是，我們仍然可以使用信貸額度，而且價格非常便宜。它的售價加了 300 個基點，當然沒有我談價時那麼便宜，但還是有的。未開發，1億美元。我們還沒有使用過它，但它適用於這些類型的項目和類似的東西。

But now we also have IDFC funds for markets where those are not going to work and develop Western European nations or anything like that. But certainly in places like the Balkans, if it's a sustainable energy project or any African type project or anything like that, very large sums of money to finance these projects over long terms as well, which is just another tool in our toolbox.

但現在我們也有 IDFC 基金，用於那些無法發揮作用和發展西歐國家或類似國家的市場。但當然，在像巴爾幹地區這樣的地方，如果它是一個可持續能源項目或任何非洲類型的項目或類似的項目，也需要大量資金來長期資助這些項目，這只是我們工具箱中的另一個工具。

Terrific. So then I guess the thing I'm trying to get a feel for is that there is the natural appeal of the EV ARC and the problems it solves, and then that continues on with the EV Standard. So Amiga's existing customer base, it's just the same people who were customers for their infrastructure, are the ones who are now going to come over and look at the EVRs? Is that sort of translate directly or is it kind of you converting those?

了不起。所以我想我想要感受的是 EV ARC 的天然吸引力及其解決的問題，然後電動車標準繼續如此。那麼 Amiga 現有的客戶群，就是那些曾經是其基礎設施客戶的人，現在是那些來查看 EVR 的人嗎？是直接翻譯還是你轉換這些？

I can state to you categorically that I met with existing Amiga customers whom Amiga had produced Street Lights and other types of furniture and presented the new products, and I met with very enthusiastic response. And that was absolutely part of our strategy when we acquired the company.

我可以明確地告訴你，我會見了Amiga現有的客戶，Amiga生產路燈和其他類型的家具並展示了新產品，我得到了非常熱烈的反響。當我們收購該公司時，這絕對是我們策略的一部分。

As I've said before, I had a list of probably 25 bullet points of qualifications that I was looking for in international acquisition. And we got an awful lot of them and one of them was definitely that they had credibility and had sold to customers who were at similar profile if not exactly the same profile which is a case of Amiga as those with whom we've had success in the US.

正如我之前所說，我列出了一份大約 25 條我在國際收購中尋找的資格要點清單。我們得到了很多這樣的客戶，其中之一肯定是他們有信譽，並且已經賣給了具有相似配置的客戶（如果不完全相同的話），這就是Amiga 的一個例子，我們已經在這些客戶中取得了成功。

And so yes existing customers reintroducing these new products not reintroducing -- introducing these new products to them and meeting a great deal of success as a result of it.

因此，是的，現有客戶重新推出這些新產品，而不是重新推出——向他們介紹這些新產品，並因此取得了巨大的成功。

Great to hear, thanks.

很高興聽到，謝謝。

Thank you. We're getting close on time here so I think we're time for one or two more.

謝謝。我們到達的時間已經很接近了，所以我想我們還有時間再去一兩次。

Christopher Souther, B. Riley.

克里斯多福‧索瑟，B.萊利。

Hey, thanks for taking my question here. Maybe just on the margin profile around Amiga and if you can kind of talk through whether that is accretive throughout the year as that ramps up seasonally and some of the other businesses presumably start to ramp up as well?

嘿，謝謝你在這裡提出我的問題。也許只是關於 Amiga 的利潤狀況，您是否可以談談這是否會在全年中隨著季節性增長而增加，並且其他一些業務也可能開始增長？

Yeah, that's a really good question because the Amiga's first quarter, on the legacy business we're talking about here, the first quarter gross margins are typically not being good. And because of the things that I pointed out to you, there's generally a slow time selling for them.

是的，這是一個非常好的問題，因為 Amiga 的第一季度，就我們在這裡討論的傳統業務而言，第一季的毛利率通常不好。由於我向您指出的這些事情，它們的銷售速度通常很慢。

And so we didn't benefit significantly from that in the first quarter. Again, I keep coming back to this gross margin improvement that you've seen has really come from the things that we promised that we would do towards the end of last year and into the first quarter of this year and we've done them.

因此，我們在第一季並沒有從中受益匪淺。我再次重申，您所看到的毛利率改善實際上來自我們承諾在去年年底和今年第一季要做的事情，而且我們已經做到了。

We're not finished but we've clearly done a lot of it. But yeah, the good news with the Amiga legacy business is that as we move into second, third and fourth quarters, we'll see the volumes rise and with that we should see the margin improvement.

我們還沒有完成，但我們顯然已經做了很多工作。但是，是的，Amiga 傳統業務的好消息是，隨著我們進入第二、第三和第四季度，我們將看到銷量上升，隨之而來的是利潤率的改善。

And then beyond that, because of what we've done with our balance sheet, because we've enabled them to produce product during those slow periods, that means that they produce product with a lower cost profile more efficiently.

除此之外，由於我們對資產負債表所做的工作，因為我們使他們能夠在緩慢時期生產產品，這意味著他們可以更有效地生產成本較低的產品。

And so when we do get into the selling of those things, we should see a further improvement in gross profitability, even over and above what they would just normally do as they move into higher volume periods in the year.

因此，當我們確實開始銷售這些產品時，我們應該會看到毛利率進一步提高，甚至超出了它們在一年中進入銷量較高時期時的正常水平。

And then finally, I think the biggest part of this is going to be from the fact that, again, I'm very bullish about our ability to sell the new EV charging infrastructure and energy storage products. And because the economics are better in those markets, we should have a further improvement in gross profitability there as well.

最後，我認為其中最重要的部分將來自這樣一個事實：我再次非常看好我們銷售新電動車充電基礎設施和能源儲存產品的能力。由於這些市場的經濟狀況較好，我們在那裡的毛利潤率也應該進一步提高。

So all in all, I'm feeling pretty sanguine about gross profit contribution from what was Amiga and is now being Europe.

總而言之，我對以前的 Amiga 和現在的歐洲的毛利貢獻感到非常樂觀。

Excellent. And then maybe just a follow-up here on the EV standard product. Obviously, I think you've talked in the past about Amiga selling Street Lights. So I'm just curious, sales strategy-wise, can you kind of walk through the plan as you develop the final product? And I'm curious whether you think there's going to be more traction initially in Europe or in the US for that product. Thanks.

出色的。然後也許只是電動車標準產品的後續行動。顯然，我認為您過去曾談論過 Amiga 銷售路燈的事情。所以我很好奇，在銷售策略方面，你能在開發最終產品時詳細介紹一下該計劃嗎？我很好奇您是否認為該產品最初會在歐洲或美國受到更多關注。謝謝。

Yeah, so we will definitely be going back to the customers that buy Street Lights in general. Because of course, one of my ideas, one of my plans is that in the future we're going to be dealing with customers who buy Street Lights and saying, hey, every X number of street lights, you should have an EV Standard because you're going to need the charging infrastructure on street. I don't know what X is. In some markets, every fifth and some, it might be every 50. I just don't know what every X is, but we'll go back to those existing customers and say that certainly look at this.

是的，所以我們肯定會回到購買路燈的客戶那裡。因為當然，我的想法之一，我的計劃之一是，將來我們將與購買路燈的客戶打交道，並說，嘿，每 X 個路燈，你應該有一個電動汽車標準，因為你將需要街道上的充電基礎設施。我不知道X是什麼。在某些市場，每五分之一，有些市場可能是每 50 人。我只是不知道每個 X 是什麼，但我們會回到那些現有客戶並說肯定會看看這個。

It is a streetlight product. I mean, if you're looking for street lights, here's a street light that just does a whole lot more for you than that. Similarly, we will also be going back to all of our existing customers who bought EV ARCs from us and saying, hey, we've got this other thing, which might be a good fit for you and other types of deployments that you want to do. That's a kind of a direct sales thing. Then we'll be putting EV Standard into these news channels' hands as well and showing that to them.

它是一款路燈產品。我的意思是，如果您正在尋找路燈，這裡的路燈可以為您提供更多幫助。同樣，我們也會回去找所有從我們這裡購買 EV ARC 的現有客戶，並說，嘿，我們還有另一個東西，它可能非常適合您和您想要的其他類型的部署做。這是一種直銷的方式。然後我們也會將 EV 標準交到這些新聞頻道手中並向他們展示。

And honestly I think one of the things I learned from this trip is there is appetite for both products and we may end up, and in fact I think it's very likely that we'll end up selling EV ARCs and EV standards to certain customers, depending on where they're placed and what the use case is for them.

老實說，我認為我從這次旅行中學到的一件事是，人們對這兩種產品都有興趣，我們最終可能會這樣做，事實上，我認為我們很可能最終會向某些客戶銷售EV ARC 和EV 標準，取決於它們的放置位置以及它們的用例。

Chris, I hope that answered your question, and that's two minutes over time here.

克里斯，我希望這回答了你的問題，現在已經過去兩分鐘了。

Operator, are we looking for questions? I think we need to wrap up. I'll take another one if there's one there, but otherwise it might be a good time to wrap.

接線員，我們在找問題嗎？我想我們需要結束了。如果那裡有的話，我會再拿一份，但否則現在可能是包裝的好時機。

There are no further questions in the queue at this time.

目前隊列中沒有其他問題。

Okay, excellent. Well, I'm appreciative of that because I need to get some shy here because I got a long day ahead of me tomorrow again. But I'm very grateful for everybody for listening in and for your continued attention and support of the company.

好的，非常好。好吧，我很感激這一點，因為我需要在這裡害羞一些，因為明天我又要度過漫長的一天。但我非常感謝大家的傾聽以及對公司的持續關注與支持。

I'm very grateful to the Beam team, to Lisa and her team about getting the financials together and getting us piled on time again. And I feel very enthusiastic. A great time to be Beam Global and I'm looking forward to the rest of this year. So thank you all.

我非常感謝 Beam 團隊、Lisa 和她的團隊，他們幫助我們整理了財務狀況，並讓我們再次準時完成任務。而且我覺得很熱情。成為 Beam Global 的美好時光，我對今年剩下的時間充滿期待。謝謝大家。

The conference has now concluded. Thank you for your participation. You may now disconnect your lines.

會議現已結束。感謝您的參與。現在您可以斷開線路。