Core AI Holdings Inc (CHAI) 2024 Q3 法說會逐字稿

Good morning, ladies and gentlemen and welcome to the Siyata Mobile third quarter, 2024 conference call.

早安，女士們、先生們，歡迎參加 Siyata Mobile 2024 年第三季電話會議。

All lines are in a listen-only mode and this call is being recorded on Friday, November 15th 2024.

所有線路均處於只聽模式，且此通話錄音於 2024 年 11 月 15 日星期五進行。

I would now like to turn the conference over to Mr. Glenn Kennedy, Vice President of International Sales. Sir. Please go ahead.

現在我想將會議交給國際銷售副總裁 Glenn Kennedy 先生。先生。請繼續。

Thank you for joining the Siyata Mobile third quarter, 2024 conference call. Today, I'm joined by our CEO Mark Seelenfreund. During this call management will make express and implied, forward-looking statements within the private securities litigation Reform Act of 1995 and other us federal securities laws. These forward-looking statements include but are not limited to those statements regarding future product offerings. The belief that we are on the path for strong organic growth, the goal to deliver strong year over year revenue growth and reach profitability in the coming quarters. The belief that we will continue to see strong sales in all of our product lines and across our various markets and the timing and sale of our rugged handsets to North American and international carriers.

感謝您參加 Siyata Mobile 2024 年第三季電話會議。今天，我們的執行長 Mark Seelenfreund 也加入了我的行列。在此電話會議期間，管理階層將根據 1995 年私人證券訴訟改革法案和其他美國聯邦證券法做出明示和暗示的前瞻性聲明。這些前瞻性陳述包括但不限於有關未來產品的陳述。相信我們正在走上強勁的有機成長之路，目標是在未來幾季實現強勁的同比收入成長並實現盈利。我們相信，我們將繼續看到我們所有產品線和各個市場的強勁銷售，以及我們堅固耐用的手機向北美和國際營運商的銷售時機和銷售。

Such forward-looking statements are based on the company's current expectations and assumptions regarding its business, the economy and other future considerations. Because forward-looking statements relate to the future, they are not statements of historical fact and are subject to inherent uncertainties. Risks and changes in circumstances that are difficult to predict the company's actual results may differ materially from those contemplated by the forward-looking statements.

此類前瞻性陳述是基於公司目前對其業務、經濟和其他未來考慮因素的預期和假設。由於前瞻性陳述涉及未來，因此它們不是歷史事實的陳述，並且存在固有的不確定性。難以預測公司實際結果的風險和環境變化可能與前瞻性陳述中預期的結果有重大差異。

We caution you therefore against relying on any of these forward-looking statements, the company cannot guarantee future results, levels of activity, performance or achievements. The forward-looking statements contained in this presentation are subject to other risks and uncertainties including those discussed in the risk factors section and elsewhere in the company's annual report on form 20-F for the year ended December 31st, 2023, filed with the Securities and Exchange Commission.

因此，我們提醒您不要依賴任何這些前瞻性陳述，本公司無法保證未來的結果、活動水準、績效或成就。本簡報中包含的前瞻性陳述受到其他風險和不確定性的影響，包括風險因素部分以及公司向證券和證券交易委員會提交的截至2023 年12 月31 日止年度的20-F 表格年度報告中討論的風險和不確定性。

Now I'd like to turn the call over to Mark.

現在我想把電話轉給馬克。

Thank you Glenn. Good morning and thank you for joining the call.

謝謝格倫。早安，感謝您加入通話。

We are pleased to announce that in the third quarter of 2024 ended September 30th revenue was $5.9 million which is a 218% or $4 million increase compared to $1.8 million in Q3 2023 and a 210 or $4 million increase compared to $1.9 million in Q2 2024 revenue from the US market was $4.8 million or 81% of total revenue compared to $1.3 million or 69% of total revenue for Q3, 2023.

我們很高興地宣布，截至9 月30 日的2024 年第三季營收為590 萬美元，與2023 年第三季的180 萬美元相比，成長了218%，即400 萬美元；與2024 年第第二季的營收190 萬美元相比，成長了210%，即400 萬美元。收入的69%。

This was the strongest revenue quarter ever in the history of our company. This increase was primarily due to the increased demand for our SD seven handset and accessories and having the inventory to fulfill this demand. We are also extremely excited with our sales outlook going forward as we are now seeing tangible rapid adoption of our unique PTT product portfolio across our various sales channels.

這是我們公司史上最強勁的營收季度。這一增長主要是由於對我們的 SD 7 手機和配件的需求增加，並且有庫存來滿足這一需求。我們對未來的銷售前景也感到非常興奮，因為我們現在看到我們獨特的 PTT 產品組合在我們的各個銷售管道中得到了切實的快速採用。

We believe that we have a very exciting five G product portfolio planned to launch in 2025 which will position us as the leading PTT handset provider on a global level. We announced recently that T mobile is the first wireless carrier that will be launching part of this portfolio and will be releasing details of the innovative devices over the coming months.

我們相信，我們計劃在 2025 年推出非常令人興奮的 5G 產品組合，這將使我們成為全球領先的 PTT 手機供應商。我們最近宣布，T mobile 是第一家推出該產品組合部分產品的無線營運商，並將在未來幾個月內發布創新設備的詳細資訊。

We are optimistic that more wireless carriers will follow suit for the remaining Q3, 2024 financial metrics, gross margin percentage for Q3 2024 was 29% versus 26.6%. In Q3, 2023 gross margin dollars increased from $500,000 to $1.7 million. A $1.2 million positive variance SG&A expenses are $4.7 million in Q3 2024 versus $2.7 million in Q3 2023 an increase of $2 million. This increase in the SG&A was primarily due to marketing expenses related to investor awareness adjusted EBITDA for Q3 2024 was negative $3.3 million compared to negative $1.6 million. In Q3 2023 a $1.8 million negative variance in EBITDA mostly related to the increased marketing expenses related to investor awareness working capital. As of September 30th 2024 was $200,000 versus $1.3 million. As of December 31st, 2023, a $1.1 million decrease in working capital, removing both the non-cash warrant and preferred share liabilities classified as current liabilities. The working capital at September 30th, 2024, would have been $1.3 million and at December 31st, 2023 would have been $1.4 million for the nine months ended September 30th, 2024, total revenue was $10.1 million compared to $6.3 million in the same period of 2023 which is a positive variance of $3.8 million. Gross margin dollars were $2.8 million in 2024 compared to $1.8 million in the same period of 2023 which is a positive variance of $1 million. Finally, the gross margin percentage was 27.3% in 2024 compared to 28.2% in the same period of 2023 a decrease of 0.9%.

我們樂觀地認為，更多無線營運商將效仿 2024 年第三季剩餘的財務指標，2024 年第三季的毛利率為 29%，而 26.6%。2023 年第三季度，毛利率從 50 萬美元增至 170 萬美元。2024 年第三季的 120 萬美元正方差 SG&A 費用為 470 萬美元，而 2023 年第三季為 270 萬美元，增加了 200 萬美元。SG&A 的成長主要是由於與投資者意識相關的行銷費用，2024 年第三季調整後的 EBITDA 為負 330 萬美元，而先前為負 160 萬美元。2023 年第三季度，EBITDA 出現 180 萬美元的負差異，主要與投資者意識營運資本相關的行銷費用增加有關。截至 2024 年 9 月 30 日，該數字為 20 萬美元，而先前為 130 萬美元。截至 2023 年 12 月 31 日，營運資金減少 110 萬美元，取消了非現金認股權證和歸類為流動負債的優先股負債。截至2024年9月30日的營運資金將為130萬美元，截至2023年12月31日的營運資金將為140萬美元，截至2024年9月30日的九個月，總收入為1,010萬美元，而2023年同期為630萬美元這是 380 萬美元的正差異。2024 年毛利率為 280 萬美元，而 2023 年同期毛利率為 180 萬美元，存在 100 萬美元的正差異。最終，2024年毛利率為27.3%，較2023年同期的28.2%下降0.9個百分點。

We continue to see the rapid adoption of our disruptive solutions and as the displacement of Lambo by AAD by push to talk over cellular continues to progress. This should drive meaningful growth for our innovative products. We stand by our previously stated goal of strong revenue growth with a goal of profitability in the coming quarters, we will file a third quarter, 2024 financial results for the EC on a form six K and urge our listeners to access them from the SEC website. Search for Siyata Mobile Inc that concludes our remarks. If you have any questions, please email them to Syta@Haydenir.com. Thank you.

我們繼續看到我們的顛覆性解決方案迅速採用，並且隨著 AAD 透過蜂窩一鍵通取代 Lambo 的進程不斷取得進展。這應該會推動我們的創新產品實現有意義的成長。我們堅持先前提出的收入強勁增長的目標，並在未來幾季實現盈利，我們將以 6K 表格的形式向 EC 提交 2024 年第三季度的財務業績，並敦促我們的聽眾從 SEC 網站訪問這些結果。搜尋 Siyata Mobile Inc，我們的評論就結束了。如果您有任何疑問，請發送電子郵件至 Syta@Haydenir.com。謝謝。

Thank you, ladies and gentlemen, this does conclude today's call and you may disconnect your lines at this time and we thank you for your participation.

謝謝各位，女士們、先生們，今天的電話會議到此結束，您可以在此時掛斷電話，我們感謝您的參與。