Data I/O Corp (DAIO) 2025 Q2 法說會逐字稿

Good afternoon, everyone, and welcome to the Data I/O second-quarter 2025 financial results conference call. (Operator Instructions)

各位下午好，歡迎參加 Data I/O 2025 年第二季財務業績電話會議。（操作說明）

Please note today's event is being recorded.

請注意，今天的活動正在錄影。

At this time, I'd like to turn the conference call over to Mr. Jordan Darrow, Investor relations. Please go ahead, sir.

現在，我想把電話會議交給投資人關係部門的喬丹‧達羅先生。請繼續，先生。

Thank you, operator, and welcome to the Data I/O Corporation's second-quarter 2025 financial results conference call. With me today are the company's President and CEO Bill Wentworth and Interim Chief Financial Officer Todd Henne.

謝謝接線員，歡迎參加 Data I/O 公司 2025 年第二季財務業績電話會議。今天陪同我的是公司總裁兼執行長比爾溫特沃斯和臨時財務長托德亨內。

Before we begin, I'd like to remind you that statements made in this conference call concerning future events, results from operations, financial positions, markets, economic conditions, supply chain expectations, estimated impact of tax and other regulatory reform, product releases, new industry participants, and any other statements that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties, and other factors which may cause actual results to differ materially from those expressed or implied by such statements.

在會議開始之前，我想提醒各位，本次電話會議中有關未來事件、經營業績、財務狀況、市場、經濟狀況、供應鏈預期、稅收和其他監管改革的預計影響、產品發布、新行業參與者以及任何其他可能被解釋為對未來業績或事件的預測的陳述，均為前瞻性陳述，涉及已知和未知的風險、不確定性以及其他結果，這些因素可能導致所表達的重大結果或實際的結果。

These factors also include uncertainties as the impact of global and geopolitical events, international tariff and trade regulations, order levels for the company, and the activity level of the automotive and semiconductor industry overall, ability to record revenues based on the timing of product deliveries and installations, market acceptance of new products, changes in economic conditions and market demand, parts shortages, pricing and other activities by competitors and other risks, including those described from time to time in the company's filings on Forms 10K and 10Q with the Securities and Exchange Commission in our press releases and other communications.

這些因素還包括全球和地緣政治事件的影響、國際關稅和貿易法規、公司訂單水平、汽車和半導體行業的整體活躍程度、根據產品交付和安裝時間確認收入的能力、新產品的市場接受度、經濟狀況和市場需求的變化、零部件短缺、競爭對手的定價和其他活動以及其他風險等不確定性，包括公司不時在美國證券交易委員會描述的 10K 和證券交易委員會。

The company may also reference GAAP and Non-GAAP financial performance measures, including one-time items which are intended to provide listeners with a means to better understand the company's performance. The accuracy and completeness of all discussions on this call, including overlooking statements, should not be unduly relied upon. Data I/O is under no duty to update any forward-looking statements.

公司也可能提及 GAAP 和非 GAAP 財務績效指標，包括一次性項目，旨在為聽眾提供更好地了解公司業績的途徑。本次通話中所有討論內容的準確性和完整性，包括遺漏的陳述，不應過度依賴。Data I/O 沒有義務更新任何前瞻性聲明。

And now I'd like to turn the call over to Bill Wentworth, President and CEO of Data I/O.

現在，我想把電話交給 Data I/O 的總裁兼執行長 Bill Wentworth。

Thank you, Jordan, for that introduction. I also want to thank the people that had made the call and took out the time to listen to what we're going to talk about today.

謝謝你，喬丹，為你引薦。我還要感謝那些打電話來並抽出時間聆聽我們今天要討論的內容的人們。

As you can see, if anybody's seen the report, bookings were up sequentially from Q4, 4.1; Q1, 4.6; and Q2, 5.8 respectively. That's obviously been a focus for us is to get that booking number going in the right direction. It still hasn't settled in the backlog number. I see that in the second half, and I'll talk a little bit more about that and why.

如你所見，如果有人看過這份報告，你會發現預訂量從第四季的 4.1 倍、第一季的 4.6 倍、第二季的 5.8 倍開始逐季成長。很顯然，我們一直致力於讓預訂量朝著正確的方向發展。積壓訂單數量尚未最終確定。我在下半場也看到了這一點，我會再詳細談談這一點以及原因。

The larger system order reflects our commitment to our core programming platform, the new universal platform will be rolling out between now and the end of the year and the reason for this investment is the complexity of programming technology, especially in memory has gotten a lot more difficult and so the commitment to that is we need to have a platform that can actually handle these new technologies and the complexity that come with them and the changing standards that really almost change almost annually at this point, at least every two years.

更大的系統訂單反映了我們對核心程式設計平台的承諾，新的通用平台將在今年年底前推出，而這項投資的原因是編程技術的複雜性，尤其是在內存方面的複雜性，已經變得更加困難，因此我們承諾需要一個能夠真正處理這些新技術及其帶來的複雜性以及不斷變化的標準的平台，這些標準現在幾乎每年都會變化，至少每兩年一次。

So this complexity has driven the need to obviously invest in our core platform, which we are doing and that order reflected that commitment because one of those technologies was UFS flash memory and both UFS and NVME, which are two technologies we are focused on, not the only ones, but certainly to the core because they have the most complexity, have annual KIs between now and 2030 or 14% that is twice the semiconductor market.

因此，這種複雜性促使我們顯然需要投資於我們的核心平台，而我們正在這樣做，並且這一順序反映了這一承諾，因為其中一項技術是 UFS 閃存，而 UFS 和 NVME 是我們關注的兩種技術，雖然不是僅有的，但肯定屬於核心，因為它們最為複雜，從現在到 2030 年的年度關鍵投資 (KI) 將達到 14%，是達到 14%。

So obviously there's a very good reason to be focusing in on these technologies but also advance our platform in general for the wide range of products that we have to serve and eventually end up on one platform, which is our ultimate goal sometime the end of 2026, beginning of 2027, which will also help reduce a significant amount of technical debt the company's been carrying from the past.

顯然，我們有充分的理由專注於這些技術，同時也要推動我們的平台整體發展，以服務於我們廣泛的產品，並最終實現一個統一的平台，這是我們在 2026 年底或 2027 年初的最終目標，這也將有助於減少公司過去積累的大量技術債務。

Second half, I can tell you the product mix looks better we'll get into the margin discussion later and also look forward to any Q&A around that because obviously I'm sure there'll be some very pointed questions around margin which I totally understand and we're well aware of it.

下半年，我可以告訴大家，產品組合看起來更好了，我們稍後會討論利潤率問題，也期待大家就此進行問答，因為顯然，我確信大家會就利潤率提出一些非常尖銳的問題，我完全理解，我們也對此非常清楚。

We have six major events between September and November this is all around our new product road roadmap, but the products are actually going to be introduced at these shows. These are six of the largest shows in the territory from China to Germany, which is Productronica. India now has Productronica because their tech market has grown significantly. So actually, this is the first time we'll be showing at that event with our new products.

從九月到十一月，我們將舉辦六場大型活動，這些活動都與我們的新產品路線圖有關，但這些產品實際上將在這些展會上推出。這是從中國到德國的六個最大的展會，其中包括Productronica。印度現在有了Productronica，是因為他們的科技市場發展迅速。實際上，這將是我們首次帶著新產品參加活動。

China has their show in October, and there's a spattering of other vets is also in Mexico, Guadalajara, they have their largest event in September as well. So this should really pick up significantly increase the lead generation that we'll be doing. So these are big announcements that really drive a lot of value and understanding about where data is going with this technology and its roadmap overall.

中國在十月舉辦展會，其他一些獸醫也在墨西哥瓜達拉哈拉舉辦展會，他們最大的展覽也在九月舉行。因此，這應該會顯著提高我們的潛在客戶開發量。所以這些都是重大公告，它們真正帶來了很多價值，也加深了人們對這項技術及其整體發展路線圖在數據方面的發展方向的理解。

And these are road maps that were not just done in a vacuum. I mean, they were done with sharing data with our semiconductor partners, which we established better, more significant partnerships in the first quarter of this year, which really helps us really look out 10 to 15 years about where we need to be because the technology is not going to slow down.

這些路線圖並非憑空制定的。我的意思是，他們已經停止與我們的半導體合作夥伴共享數據，而我們在今年第一季建立了更好、更重要的合作夥伴關係，這確實有助於我們展望未來 10 到 15 年的發展方向，因為技術發展不會放緩。

So we have to be able to accept and be able to have room in our fabric of our platform to be able to absorb these new technologies which we will have. Everything from a milestone perspective is on track, which is great. It's a little tight, that always happens, but we look really good for these launches for the second half.

因此，我們必須能夠接受，而我們的平台結構中必須留有空間來吸收我們將要擁有的這些新技術。從里程碑的角度來看，一切都在按計劃進行，這很好。時間有點緊，這種情況總是會發生，但我們對下半年的這些產品發表會充滿信心。

What else would I like to say? Now it's the product roadmap. Let's see. I think that's it for right now. I will now turn over to Todd Henne for our financial section, but really look forward to the Q&A. But we have plenty to talk about, and I'm excited to talk about it. So I look forward to your questions.

還有什麼想說的嗎？現在是產品路線圖。讓我們來看看。我想今天就到這裡吧。接下來我將把發言權交給托德·亨內，他將為大家帶來財經部分的發言，我非常期待問答環節。但我們有很多話題可以聊，我很興奮能跟大家聊聊。我很期待你們的問題。

All right. Todd?

好的。托德？

Thank you, Bill, and good day to everyone. It's a pleasure to speak with all of you today. In my remarks, I will address our recent financial performance in more detail. My comments today will focus on key points of interest for the second quarter of 2025, recent trends, and our outlook for the second half of the year.

謝謝你，比爾，祝大家今天愉快。今天很高興能和大家交流。在我的演講中，我將更詳細地談談我們近期的財務表現。我今天的演講將重點關注 2025 年第二季的關鍵要點、近期趨勢以及我們對下半年的展望。

Net sales in the second quarter of 2025 were $5.9 million down from $6.2 million in the first quarter of 2025 and up from $5.1 million in the second quarter of 2024. first quarter of 2025 revenues were elevated due to the completion of a large order received in the first quarter of 2024. We were also awarded a large order toward the end of the second quarter of 2025, which is expected to be shipped and recognized as revenue in the second half of the year.

2025 年第二季淨銷售額為 590 萬美元，低於 2025 年第一季的 620 萬美元，但高於 2024 年第二季的 510 萬美元。 2025 年第一季營收成長是由於完成了 2024 年第一季收到的一筆大訂單。我們在 2025 年第二季末也獲得了一筆大訂單，預計將於下半年出貨並確認收入。

Automotive electronics as a primary business segment represented 66% of second-quarter 2025 bookings compared to 59% for all of 2024. Asia, led by China, has been relatively strong, particularly within the EV sector of automotive electronics. Europe and the Americas continue to be pressured by pent-up capital equipment spending due to tariffs and trade uncertainties. Despite this headwind, consumable adapters and services provide a stable base of reoccurring revenue, which represents 50% of total revenue in the second quarter.

汽車電子產品作為主要業務板塊，佔 2025 年第二季訂單量的 66%，而 2024 年全年這一比例為 59%。以中國為首的亞洲表現相對較強，尤其是在汽車電子領域的電動車產業。由於關稅和貿易不確定性，歐洲和美洲持續面臨被壓抑的資本設備支出壓力。儘管面臨這種不利因素，耗材轉接器和服務仍提供了穩定的經常性收入基礎，佔第二季總收入的 50%。

Moving on to new bookings, the first two months of the second quarter carried forward similar activity from the first quarter order activity which were impacted by the aforementioned tariff uncertainties. Conditions approved in June as evidenced by the large order we announced and have continued to remain active in the third quarter to date even though certain of the international trade negotiations remain an issue.

再來看新訂單，第二季的前兩個月延續了第一季訂單活動的類似情況，而第一季的訂單活動受到了上述關稅不確定性的影響。6 月批准的條件，正如我們宣布的大訂單所證明的那樣，儘管某些國際貿易談判仍然存在問題，但迄今為止，我們在第三季度仍然保持活躍。

Second quarter of 2025 bookings were $5.8 million up from $4.6 million in the first quarter of 2025 and $5.6 million in the second quarter of 2024. Backlog as of June 30th, 2025, was $2.8 million down $200,000 from March 31, 2025.

2025 年第二季的預訂金額為 580 萬美元，高於 2025 年第一季的 460 萬美元和 2024 年第二季的 560 萬美元。截至 2025 年 6 月 30 日，積壓訂單為 280 萬美元，比 2025 年 3 月 31 日減少了 20 萬美元。

Gross margin as a percentage of sales was 49.8% in the second quarter of 2025 as compared to 51.6% in the first quarter 2025 and 54.5% in the prior year period. A lower margin product mix and configuration of automated systems driven by a large customer order led to reduced margins. Direct material costs remained steady and consistent with prior periods.

2025 年第二季毛利率佔銷售額的 49.8%，而 2025 年第一季為 51.6%，去年同期為 54.5%。受大額客戶訂單驅動，產品組合和自動化系統配置的利潤率降低，導致利潤率下降。直接材料成本維持穩定，與前期成本一致。

Ongoing supply chain planning and other actions have been mitigating the impact of new tariffs, trade and inflationary pressures, including shifting material sourcing and product manufacturing. While our top line performance was affected by tariff and trade negotiation pressures, we really have not been meaningful impacted on the manufacturing side due to earlier mitigation and work around strategies that are possible given our diversified supply chain and manufacturing operations in the US and China.

持續的供應鏈規劃和其他措施，包括轉變原物料採購和產品製造方式，一直在減輕新關稅、貿易和通膨壓力的影響。雖然關稅和貿易談判壓力影響了我們的營收，但由於我們在美國和中國擁有多元化的供應鏈和製造業務，並採取了較早的緩解和應對策略，我們在製造業方面實際上並沒有受到實質影響。

More recently, we are seeing some smaller items creeping in, like for example aluminium that have been hit with higher tariffs in certain parts of the world. We are not an aluminium buyer directly, but there's a small percentage of that metal in some of our system parts we purchase. We are taking steps to avoid this increase in price and note that it is currently in very small and limited amount within our overall cost of goods sold.

最近，我們看到一些較小的商品也開始出現，例如鋁，因為世界某些地區對鋁徵收了更高的關稅。我們並非直接購買鋁材，但我們採購的一些系統零件中含有少量鋁材。我們正在採取措施避免價格上漲，並指出目前價格上漲在我們整體銷售成本中所佔比例非常小且有限。

Operating expenses for the second quarter of 2025 or $3.8 million up from $3.6 million in the first quarter of 2025 and $3.3 million in the prior year period. Second quarter of 2025 spending included approximately $480,000 in one-time expenses, which are part of the company's investments in the core programming platform and information systems, as well as for leadership and other human resources transition requirements.

2025 年第二季的營運費用為 380 萬美元，高於 2025 年第一季的 360 萬美元和去年同期的 330 萬美元。2025 年第二季的支出包括約 48 萬美元的一次性費用，這些費用是公司對核心程式設計平台和資訊系統以及領導層和其他人力資源過渡需求的投資的一部分。

While savings from prior improvements in operations and more recent investments are expected to continue to possibly influence financial performance, the one-time spending items are being brought to light to provide transparency in what we are doing and where we believe we'd be under normal conditions.

儘管先前營運改善和最近的投資帶來的節省預計將繼續可能影響財務業績，但這些一次性支出項目被公開，是為了提高我們正在做的事情以及我們認為在正常情況下我們會達到的水平的透明度。

For comparison purposes, first quarter operating expenses including annual spending on public company costs pertaining to audits, regulatory fees, and Nasdaq fees of approximately $300,000.

為了便於比較，第一季營運費用包括上市公司年度支出，涉及審計、監管費用和納斯達克費用，約 30 萬美元。

The additional one-time spending in the second quarter of 2025 put us into a loss on operating income, net income, and adjusted EBITDA basis. That said, and looking in the cash flow and the balance sheet, we used a very small amount of cash in the quarter, primarily for investments as we've touched upon during the call and for the other one-time spending purposes. I'd like to provide additional color and perspective on these one-time items.

2025 年第二季的額外一次性支出導致我們的營業收入、淨收入和調整後 EBITDA 虧損。也就是說，從現金流量表和資產負債表來看，我們本季使用的現金量非常少，主要用於投資（正如我們在電話會議中提到的）和其他一次性支出。我想就這些一次性事件提供更多細節和視角。

We're making investments as well as critical enhancements to our technology platform and putting in place a roadmap for the future. These investments are one time in nature, which amounted to approximately $165,000 in the second quarter of 2025. We also made the important decision to invest in the establishment of two other key functional areas. One, our new sales and marketing strategies, and two, the framework for ongoing growth and future business plan expansion.

我們正在進行投資，並對我們的技術平台進行關鍵性改進，同時制定未來的發展路線圖。這些投資屬於一次性投資，到 2025 年第二季總額約為 165,000 美元。我們也做出了一項重要決定，投資建立另外兩個關鍵職能領域。第一，我們的新銷售和行銷策略；第二，持續成長和未來業務計劃擴展的框架。

Additional one-time expenses included costs related to HR and the CFO transition for which we spent about $145,000 in the second quarter of 2025. We expect to make an announcement of a permanent CFO in the third quarter of 2025, but I remain on board for a brief period of time to ensure a smooth transition. Therefore, we expect some double spending in the third quarter of 2025 and possibly the fourth quarter of 2025 on the CFO transition.

額外的一次性支出包括與人力資源和財務長過渡相關的成本，我們在 2025 年第二季為此花費了約 145,000 美元。我們預計將於 2025 年第三季宣布正式的財務長人選，但我將繼續留任一段時間，以確保平穩過渡。因此，我們預計在 2025 年第三季和 2025 年第四季度，財務長過渡期間可能會出現一些重複支出。

One-time expenses in the second quarter of 2025 for technology and IT related growth initiatives amounted to $170,000. Total one-time investments and expenses in the second quarter of 2025 were approximately $480,000 which reduced our profits, adjusted EBITDA, and cash in the period.

2025 年第二季與科技和 IT 相關的成長計畫的一次性支出為 17 萬美元。2025 年第二季的一次性投資和支出總額約為 48 萬美元，這減少了我們當期的利潤、調整後的 EBITDA 和現金。

Backing out one-time expenses in the second quarter of 2025 would have left us with an operating loss of $364,000 versus the reporter's second quarter operating loss of $844,000 and the second quarter of 2024 operating loss of $566,000. Again, backing out one-time expenses, adjusted EBITDA would have been $43,000 versus the reported adjusted EBITDA loss of $437,000 and positive adjusted EBITDA of $3000 in the prior year period.

如果剔除 2025 年第二季的一次性支出，我們的營業虧損將為 364,000 美元，而記者報道的第二季營業虧損為 844,000 美元，2024 年第二季營業虧損為 566,000 美元。再次剔除一次性支出後，調整後的 EBITDA 為 43,000 美元，而上年同期報告的調整後 EBITDA 虧損為 437,000 美元，調整後 EBITDA 為正值 3,000 美元。

Working within this framework, it would seem that our cash balance absent the one-time expenses would have been approximately $480,000 higher, or nearly $10.5 million as of June 30, 2025, versus the reported amount of $10 million at the end of June 2025 and $10.3 million as of December 31, 2024.

在此框架下，若不計一次性支出，截至 2025 年 6 月 30 日，我們的現金餘額似乎將增加約 48 萬美元，即近 1050 萬美元，而截至 2025 年 6 月底的報告金額為 1000 萬美元，截至 2024 年 12 月 31 日的報告金額為 31030 萬美元。

Based on this analysis, we can see that our financial performance and cash management reflect an improved cost structure and effective handling of our inventory and other short-term assets, all while we invested for more productive operations and future growth and scaling of the business.

根據這項分析，我們可以看出，我們的財務表現和現金管理反映了成本結構的改善以及對庫存和其他短期資產的有效管理，同時我們也投資於更有效率的營運以及業務的未來成長和規模化。

Data I/O's networking capital of over $15.6 million as of June 30, 2025 was slightly lower than $16.1 million at the end of last year, largely reflecting one-time spending through the first half of the year, which also included public company and other annual costs paid in the first quarter of 2025. Finally, the company continues to have no debt.

截至 2025 年 6 月 30 日，Data I/O 的網路資本超過 1,560 萬美元，略低於去年年底的 1,610 萬美元，這主要反映了上半年的一次性支出，其中還包括 2025 年第一季支付的上市公司費用和其他年度費用。最後，該公司仍然沒有任何債務。

This concludes my remarks for the second quarter of 2025. Operator, would you please start the Q&A portion of the call?

我的2025年第二季發言到此結束。接線生，請開始問答環節好嗎？

(Operator Instructions)

（操作說明）

David Marsh, Singular Research.

David Marsh，Singular Research。

Hey, thanks guys for taking the questions. Just want to start out if I could, quick housekeeping, question, with regards to the $480,000, Todd, can you tell me, how that hits the P&L, in terms of SGNA R&D, how it might hit the P&L, and how we could think about that going forward in particular around the kind of double counting you were saying for CFO services in the back half of the year.

嘿，謝謝各位回答問題。首先，如果可以的話，我想快速處理內部事務。關於那 48 萬美元，Todd，你能告訴我，這筆錢對損益表的影響是什麼嗎？就 SGNA 研發而言，它會如何影響損益表？以及我們應該如何考慮未來的發展，特別是關於你提到的下半年 CFO 服務方面的重複計算問題。

Yeah, it really, David, it hits multiple areas. I mean, primarily the area it's going to hit is going to be the GNA category because that's where the IT spending goes. That's where the finance spending goes. That's where HR goes. So a majority of that is going to be on the GNA line, and.

是的，大衛，它確實涉及多個方面。我的意思是，它主要影響的領域將是GNA類別，因為IT支出都流向了這個領域。這就是金融支出的去向。人力資源部門就去那裡。所以大部分都會落在 GNA 線上，而且。

Some of the consulting is in there and.

其中一些諮詢服務也包含在內。

Some of it and also the executive, there's some consulting in our executive group, and that's also in the same line item and.

其中一部分，以及高階主管，我們高階主管團隊中有一些諮詢工作，也都在同一項中。

That I would expect to kind of run out by the end of the year, so. With the savings that we're seeing across, we did a lot of IT discovery in our infrastructure, and there was a lot of discovery to be done there, and so we identified all the spend, one of my, the consultants I brought in is going through each vendor.

我預計到年底就會用完。鑑於我們在各方面都取得了節省，我們對基礎設施進行了大量 IT 調查，發現有很多研究工作要做，因此我們確定了所有支出，我聘請的一位顧問正在逐一審查每個供應商。

We've already identified about $512,000 worth of. Spend reduction in our IT annually and so we're probably about halfway to that number I already implemented. Expect the rest of that to be done by definitely before year end for sure. I can't tell you exactly when because some of it's got a lot of complexity to it and we're trying to move as much as we can to the cloud, get more stuff off prem, which then enhances our security, so there's a lot of, we'll end up with far better infrastructure, our secure infrastructure, and half the price.

我們已經確定了價值約 512,000 美元的資金。我們每年都在削減IT支出，目前我們已經實現了目標的一半左右。預計其餘工作肯定會在年底前完成。我無法確切地告訴你具體時間，因為其中一些事情非常複雜，我們正在努力將盡可能多的東西遷移到雲端，將更多東西從本地遷移出去，這樣可以增強我們的安全性，所以最終我們將擁有更好的基礎設施，更安全的基礎設施，而且價格只有原來的一半。

So I think it's a, it's been a great exercise for sure, and then I expect the consultants that, do run up to about, annualized if I use the numbers, some might increase because of the work that they're doing specifically in IT, so that's going to more than pay for itself, probably about an annualized spend around $0.5 million maybe a little bit more.

所以我認為這絕對是一次很棒的實踐，然後我預計顧問們的年費大約會達到，如果我用數字來計算的話，有些可能會增加，因為他們專門在 IT 領域開展工作，所以這筆費用肯定會物有所值，年支出可能在 50 萬美元左右，也許會略多一些。

There's a couple of people that we've extended that were supposed to retire. I convinced to stay on board because of their thirty years of knowledge, and they've been super helpful in defining our new programming platform and looking at being more vertically integrated, which is one of our new growth strategies that we've now identified in Q2 and we'll be moving forward, in the second half, and that's also expanding into services which I've talked to some of the shareholders about so.

我們延長了幾個原本應該退休的人的合約。我之所以說服他們繼續留任，是因為他們擁有三十年的經驗，而且他們在定義我們的新程式設計平台和尋求更垂直整合方面提供了極大的幫助，這是我們在第二季度確定的新增長戰略之一，我們將在下半年繼續推進，這也包括擴展到服務領域，我已經和一些股東談過這個問題。

Sorry for that long winded answer, but I just want to get all that out there.

抱歉說了這麼多，但我只是想把所有事情都說清楚。

No, that's really helpful. I appreciate that color and detail. Hey, so Bill, I guess I kind of want to dial in here a little bit on, UFS, a lot of commentary obviously in the press release about it and. Obviously, great news on the, on these new orders, but you know this is a this is a part of the business that's been kind of challenged, with, kind of lower yield rates historically could you just talk about, what you know what data I can do differently that might, produce some better yield rates and just talk about a little bit more about the about the map.

不，這真的很有幫助。我喜歡這種色彩和細節。嘿，比爾，我想稍微談談UFS，顯然新聞稿中有很多關於UFS的評論。顯然，這些新訂單是個好消息，但你知道，這部分業務一直以來都面臨挑戰，歷史上收益率一直較低。你能談談我可以對哪些數據進行不同的處理，從而獲得更高的收益率嗎？再多談談地圖方面的問題。

Thanks for thanks for the lay-up I appreciate that so yeah so UFS when Luminex was first introduced, it was really introduced as a product, not a platform, and so, through my discovery process and this actually goes back to Q4 identified some of the technology gaps that were in the platform itself and they were not small and so.

感謝您提供的幫助，我非常感激。是的，UFS 當 Luminex 最初推出時，它實際上是作為產品而不是平台推出的。因此，透過我的探索過程（實際上可以追溯到第四季度），我發現了該平臺本身的一些技術差距，而且這些差距並不小。

I came back and started the year with a vengeance and just challenged the entire engineering team to say, look, we just need to reset here completely on Luminex and so that's what we've done and we brought in some outside consultants that there were some onetime charges in Q12 that we didn't get a chance to talk about, so I wish we did and we get some reasons of more color.

我回來後，以雷厲風行的姿態開始了新的一年，並向整個工程團隊發出挑戰，要求他們徹底重置 Luminex。所以我們就這麼做了，並聘請了一些外部顧問。 2012 年季度有一些一次性費用，我們沒有機會討論，我希望我們當時能討論一下，這樣我們就能得到一些更詳細的解釋。

For those numbers, but the investment here, Dave is going to do exactly that is get our yields. We need to be at 99.8% or 9%, that's the typical yield for memory devices that's been ever since Flash came out. UFS, you get a picture it almost like a hard drive. It's got multiple layers, just like a hard drive platters, and there's also a small part of what's inside the memory that directs to each one of those slivers of wafer or memory section to basically land the data and so it's like a mini hard drive in a way, but it just does it through flash cells and a and a small instruction code. That's why they have these what they call protocols.

對於這些數字而言，但在這裡的投資，戴夫要做的就是獲得我們的收益。我們需要達到 99.8% 或 9%，這是自快閃記憶體問世以來儲存裝置的典型良率。UFS，你可以把它想像成一個硬碟。它有多層，就像硬碟一樣，記憶體內部還有一小部分內容，用於指示每一片晶圓或記憶體區域，從而將資料寫入其中。因此，從某種意義上說，它就像一個迷你硬碟，但它是透過閃存單元和一小段指令碼來實現的。所以他們才制定了這些所謂的規章制度。

These handshake protocols have only been present in UFS. They're not even in EMCC is just a large piece of memory, that's it. UFS is a completely different animal and so much more difficult. And if you don't pre-plan in your architecture for this technology, there's no way you get there. We need to invest in some bench equipment to help us actually drive the ability to for the engineers to actually identify why the why it was not working, why we were not getting those yields.

這些握手協議僅存在於UFS中。它們甚至不在EMCC中，EMCC只是一大塊內存，僅此而已。UFS完全是另一種情況，難度要大得多。如果你的架構中沒有預先規劃這項技術，那麼你根本不可能實現它。我們需要投資一些實驗台設備，以幫助我們真正提高工程師的能力，以便能夠真正找出為什麼它不起作用，為什麼我們沒有獲得那些良率。

I mean, when I went to Asia in December, it was chaos there and it was because driven by UFS they yield the log files, the yields were all over the place, it would bounce each site would bounce around from failure rates and nobody knew why. And so, when I came back from that trip and then I dove into the platform to find out why it was evident as to why that happened and so.

我的意思是，我去年十二月去亞洲的時候，那裡一片混亂，這是因為 UFS 檔案系統導致日誌檔案的產生量非常不穩定，每個站點的故障率都不一樣，沒有人知道原因。所以，當我從那次旅行回來後，我深入研究了該平台，想弄清楚為什麼會發生這種情況，結果很明顯。

We've been working since January when John Duffy, who took over our hardware department in January, I said, John, welcome to welcome to Data I/O and you need to design a new platform. So, it was a pretty big introduction. He's done a phenomenal job of getting the engineers rallied around this, and I will tell you testing on a certain contact that we're trying, and it's an older contact technology, socket technology, but we've owned in some of the parameters of it.

自從一月份 John Duffy 接管我們的硬體部門以來，我們一直在努力。當時我說：“John，歡迎來到 Data I/O，你需要設計一個新平台。”所以，這是一次相當正式的自我介紹。他出色地完成了讓工程師們團結起來的工作，我會告訴你，我們正在嘗試對某種觸點進行測試，這是一種較老的觸點技術，插座技術，但我們在某些​​參數方面已經掌握了主動權。

We're seeing 100% yield right now. It tests now it's a small sample size, so you know we're not ready to say we've won the war because we haven't, there's still a ways to go there's still some intermittent issues that are happening, but we have line of sight and so we also are trying other socketing technology that I believe will actually offer better contacting capability, because the next most important thing to our platform is the ability to contact the device. If you can't make that 100% perfect, it's very difficult to drive good yields. It just is.

我們現在看到的收益率是100%。現在測試的樣本量很小，所以我們還不能說我們已經贏得了這場戰爭，因為我們還沒有，還有很長的路要走，仍然存在一些間歇性問題，但我們已經看到了希望，所以我們也在嘗試其他插座技術，我相信這些技術實際上會提供更好的接觸能力，因為對於我們的平台來說，除了接觸設備之外，最重要的就是接觸設備的能力。如果不能做到百分之百完美，就很難獲得良好的產量。事實就是如此。

So it's one of the reasons why we're looking at being more vertically integrated around socketing and getting into that market, and it's not a bad market. It's $7 billion so it wouldn't be bad for Data I/O to enter that market to get a little sliver, and it's a larger market, so it can increase our overall revenue over time and the margins are pretty solid. So anyway, sorry for that long winded answer, but that is our primary focus is yield.

所以，這也是我們正在考慮圍繞插座進行更垂直整合並進入該市場的原因之一，而且這個市場還不錯。這個市場規模有 70 億美元，所以 Data I/O 進入這個市場哪怕只佔一小部分份額也不錯，而且這是一個更大的市場，因此隨著時間的推移，它可以增加我們的整體收入，而且利潤率也相當可觀。總之，抱歉說了這麼多，但我們的主要關注點是產量。

Got it. And then if I could just one, sneak one last one in here before I yield, just, gross margin, this is kind of a low watermark for the last couple of years that we've seen for the company. You just kind of, obviously it's hard to cut your comments on mix, but maybe you could just give a little bit more color on that and kind of just what the expectations are. Maybe for the back half of the year if you have any of that available.

知道了。然後，在我宣布結果之前，如果我還能偷偷補充最後一點，那就是毛利率，這是公司近幾年來的最低點。顯然，很難對混音發表意見，但或許你可以更詳細地說明一下，以及大家的期望是什麼。如果你下半年有空的話，或許可以考慮。

Actually another way up thanks you. So that order came in June and we're actually able to ship a few systems out before the end of the quarter, probably six of them. That came from one of our larger customers, and the, I/O’s are the options I would say they don't put a lot of them in they do load up on the programs that was one of the reasons why we had to conquer this 4.0 because it was part of that order because they were putting Luminex heads in the systems, not as much as we would like, but enough.

其實還有另一種上去的方法，謝謝你。所以，那筆訂單是在六月下的，我們實際上能夠在季度末之前發貨幾套系統，大概有六套。這是來自我們的一位大客戶，I/O 是選項，我想說的是，他們並沒有在系統中安裝很多 I/O，而是在程序中加載了它們，這也是我們必須攻克 4.0 的原因之一，因為它是訂單的一部分，因為他們在系統中安裝了 Luminex 燈頭，雖然沒有我們希望的那麼多，但也足夠了。

But they were the smaller systems, less I/O’s, and you've got six of them in the mix with, a 7,000, a couple 3,500s, it's going to end up putting a lot of pressure on that because the mix was just so pointed in one direction. So that's definitely going to drive down.

但它們是較小的系統，I/O 較少，而且你把其中六個系統和一台 7,000 型、幾台 3,500 型混在一起，最終會給它們帶來很大的壓力，因為混在一起的系統都集中在一個方向上。所以這肯定會導致降價。

The second half, we have a broad, we have a very broad mix of products in the automate on the system side 3,000s, 5,000, 7,000s all look very similar, equal weighted in Q3 and Q4, certainly with the manual launches, we should certainly get a lot more conversations around systems as we drive more value into the product line.

下半年，我們在自動化系統方面擁有非常廣泛的產品組合，3000、5000、7000 系列產品看起來都非常相似，在第三季和第四季的權重相同。當然，隨著手動產品的推出，隨著我們為產品線帶來更多價值，我們應該會圍繞系統展開更多討論。

But we also don't have any revenue in the second half for any of the manual system launches, and I will tell you from the early demos and conversations we've had with customers, they're literally waiting for that product to come out to buy like I think we've already got like 15 manual systems, not a ton of money, but you know that will start to really build out and we have a lot of low-hanging fruit with our system customers over the 500 systems that have been delivered over the last 10 years, every one of those customers could at least buy two of these manual systems.

但是，我們下半年也沒有任何手動系統發布帶來的收入。我可以告訴你，從早期的演示和我們與客戶的交流來看，他們都在翹首以盼這款產品上市後購買。我想我們已經有大約 15 套手動系統了，雖然收入不多，但你知道，這將會真正開始發展壯大。在過去 10 年交付的 500 套系統中，我們有許多唾手可得的系統客戶，每位客戶至少可以購買兩套這樣的手動系統。

So we really expect that to drive a lot more conversation with customers but also get us more exposure into what they're thinking and where their businesses are going also for 2026. So that's the reason for the depressed margin. We also had some additional costs and cost of materials with prototyping for V1, rescanning V0, so that had a little impact on the margin as well because those costs were not connected to any specific revenue, just added cost to the supply side, so I hope that answers your question.

因此，我們非常希望這能促進與客戶的更多對話，同時也能讓我們更深入地了解他們的想法以及他們企業在 2026 年的發展方向。這就是利潤率下降的原因。我們也因為 V1 的原型製作和 V0 的重新掃描產生了一些額外的成本和材料成本，這對利潤率也產生了一些影響，因為這些成本與任何特定的收入無關，只是增加了供應方面的成本，所以我希望這能回答你的問題。

Casey Ryan, West Park Capital.

Casey Ryan，西園資本。

Good afternoon, everybody. Thanks for the update. Hey, real quickly, I think we've talked in the past about wanting to expand beyond automotive, and I know that it takes time.

大家下午好。謝謝你的更新。嘿，簡單說一下，我想我們之前討論過想要拓展到汽車產業以外的領域，我知道這需要時間。

Would you be happy to give us sort of a qualitative view of how it's going, sort of, expanding and getting into new customers right and talking to people who maybe knew you but hadn't chosen you in the past, because that feels like a big expansion area right long term.

您能否為我們定性地介紹目前的進展情況，例如業務拓展、獲取新客戶，以及與那些可能認識您但過去沒有選擇您的人交談的情況？因為從長遠來看，這似乎是一個很大的拓展領域。

Right, it's a good question, and unfortunately right now I would say, the new conversations are really going to be driven by the lead generation from the six shows we have coming up in the second half. Right now, I wouldn't say that we're not out there selling, but certainly we have these new product launches coming up and that we know is going to drive more value to customers and new customers.

沒錯，這是一個很好的問題。但遺憾的是，目前來看，新的討論將真正取決於我們下半年即將推出的六場演出所產生的觀眾人數。現在，我不會說我們沒有在進行銷售，但我們肯定會推出一些新產品，我們知道這些產品將為現有客戶和新客戶帶來更多價值。

So we're kind of in that in-between moment, but certainly on the customer side. Yes, automotive continues to be big because it's been very large and when you have, these trail headwinds, as an example, Korea, well, our career rep, South Korea rep, was, one of our largest revenue producing reps, and at this point last year they had acquired and when they forecasted for 2025, certainly tariffs wasn't in the discussion at that time in December of forecasting, but they were earmarked for $3.5 million of revenue.

所以我們現在正處於一個過渡時期，但肯定是在客戶這邊。是的，汽車產業依然規模龐大，因為它一直都非常龐大。而當你遇到這些不利因素時，例如韓國，我們的韓國銷售代表是我們最大的收入來源之一。去年這個時候，他們已經收購了一些公司，在預測 2025 年時，關稅肯定不在當時 12 月的預測討論範圍內，但他們預計收入將達到 350 萬美元。

They've done zero and it's a lot has been tariff driven because in Korea, the customers we have there are tariff affected. The volumes slow down, and they just put CapEx on hold. And so that's been a direct impact to our revenue for the first half. We would have a far better first half if that had not occurred.

他們什麼都沒做，這很大程度上是關稅驅動的，因為我們在韓國的客戶都受到了關稅的影響。交易量放緩，他們就暫停了資本支出。因此，這直接影響了我們上半年的營收。如果沒有發生那件事，我們上半場的表現會好得多。

March, April, and May were scary months, best I could say. June was outstanding, so we unlocked some of that. Kind of CapEx, spend that was out there, but again, it ended up being mostly automotive, so it went from we went from 59% or 58% to 66%. That's not the direction I want to go in.

三月、四月和五月是令人恐懼的幾個月，這是我能想到的最貼切的形容。六月表現出色，所以我們釋放了其中的一些能量。某種程度上說是資本支出，但最終還是主要流向了汽車產業，所以佔比從 59% 或 58% 上升到了 66%。這不是我想要的發展方向。

We definitely want to be more, diverse in our domains that we serve because that obviously makes the revenue more stable and not as impactful if you have an industry event like we have had in automotive, which really started to affect the numbers early last year.

我們當然希望服務領域更加多元化，因為這顯然會讓收入更加穩定，而且不會像去年年初汽車業那樣，受到產業事件的嚴重影響。

So absolutely and it's a continued focus Monty and the sales team are all over that. We are changing, almost monthly kind of our strategy. It's getting better and better as we fine tune it. We're definitely being far more consultative. We came up with additional sales strategies that are going to help that, but on top of it. With the investment in IT infrastructure, mostly on the application side, we're adopting Salesforce Service Club.

當然，這也是蒙蒂和銷售團隊持續關注的重點。我們的策略幾乎每月都會調整。隨著我們不斷改進，它變得越來越好。我們現在的做法無疑地更加重視協商。我們也制定了一些額外的銷售策略來輔助實現這一目標，但除此之外，我們還有其他策略。隨著我們在 IT 基礎架構（主要是應用程式方面）方面的投資，我們正在採用 Salesforce Service Club。

It's a great application. It ties directly into CRM, but it also will allow us to get the field service team to also be revenue generating. That group should generate revenue through doing milk runs, health checks, going in and talking to the operators, offering training. But also identifying things that they may not know about our product line where they could get more throughput, better productivity, other programs, software that can help them identify issues if they have any, like really drive a lot more value and so and.

這是一個很棒的應用程式。它與客戶關係管理系統直接相關，同時也能讓現場服務團隊創造收入。該小組應該透過巡查、健康檢查、與經營者交談、提供訓練等方式來創造收入。但也要找出他們可能不了解的關於我們產品線的信息，例如如何提高產量、提升生產力、提供其他程式和軟體來幫助他們發現問題（如果有的話），從而真正創造更多價值等等。

We're going to initiate that even before the implementation of service cloud, which should be about 12 weeks. I want to get at least the last two months fully under Salesforce Service cloud, but we're going to start those milk runs this quarter, probably September. It's after the summer season, everybody's back into full work form, so after Labor Day we'll probably start those.

我們將在服務雲實施之前啟動這項工作，這大約還需要 12 週。我希望至少在最後兩個月能完全遷移到 Salesforce Service Cloud 上，但我們將從本季開始逐步過渡，大約從九月開始。夏季過後，大家都恢復正常工作狀態，所以我們可能會在勞動節之後就開始這些工作了。

So we're identifying exactly the regions. We've got the team to go out. We're arming them with iPads so they can document all the data and enter it directly into Salesforce. So then when Salesforce Service cloud comes online, that data will already be in there. There's a, there's not a whole lot of data we'll be able to pull from the old system because the way it was configured, but we'll be pulling over the meaningful data.

所以我們正在精確地確定這些區域。我們已經派出了出戰的隊伍。我們為他們配備了 iPad，以便他們能夠記錄所有資料並直接輸入 Salesforce。這樣，當 Salesforce Service Cloud 上線時，這些資料就已經存在於其中了。由於舊系統的配置方式，我們無法從中提取太多數據，但我們會提取有意義的數據。

So yeah, there's a total focus around enhancing our existing customer relationships, and a lot of this comes from contract manufacturers. I mean, contract manufacturers have, as a service provider, have diversity built into their customer base already. We had a couple machines go out to JVL end of last quarter, one going out this quarter.

是的，我們完全專注於加強與現有客戶的關係，而這很大程度上要歸功於合約製造商。我的意思是，作為服務提供者，合約製造商的客戶群本身就具有多樣性。上個季度末我們有幾台機器送到了 JVL 公司，這季度還有一台要送去。

So when they use these machines and some of the plants that are somewhat universal in the markets they serve, some will be dedicated to automotive, that's was where one of these systems went, because of the reason that one, it's a platform they designed into their build plan, so once you set that in automotive, you can't make changes, so you're in.

所以當他們使用這些機器以及一些在他們服務的市場中具有一定通用性的工廠時，有些工廠將專門用於汽車行業，其中一個系統就是如此，因為這是一個他們設計到其構建計劃中的平台，所以一旦你將其設置為汽車行業，你就無法進行更改，所以你就被納入其中了。

But one is more of a one of the facilities that does, a broad range of products, so we are even managing that to that level within the EMS world because you have to set up by domain based on compliance programs, regulation, things like that. So no, it's very much a focus I do not like being focused. I mean, look, I learned a very hard lesson back in 2001 of being too focused on a domain which was networking and telco back in early 2001, and it was devastating to the entire industry, so it's one of the things even as a board member identified this is something that has to be changed.

但其中一家更像是一家能夠生產多種產品的工廠，因此我們甚至在EMS領域內也達到了那個水平，因為你必鬚根據合規計劃、法規等按領域進行設置。所以，不，我非常不喜歡成為關注的焦點。我的意思是，你看，我在 2001 年吸取了一個非常慘痛的教訓，那就是過於專注於網路和電信領域，這對整個行業造成了毀滅性的打擊，所以即使作為董事會成員，我也意識到這是必須改變的事情之一。

Right, okay, good. Well, that's actually very helpful overview.

好的，好的。嗯，這確實是一個非常有幫助的概述。

We just can't get out of automotive's way. They like us.

我們就是無法擺脫汽車產業的束縛。他們喜歡我們。

You're just too popular.

你太受歡迎了。

I guess so.

大概吧。

So, the booking's growth was really good, right, quarter over quarter, I think 26%, I mean, which is a big number on small numbers, so I understand that, but do you feel like we could continue to see bookings at this level or is it reasonable to think that bookings could actually Keep rising.

所以，預訂量的成長確實不錯，對吧？環比增長了26%，我的意思是，對於較小的數字來說，這是一個很大的數字，所以我可以理解。但是，您認為我們能否繼續看到預訂量保持在這個水平，或者認為預訂量實際上可能會繼續增長是否合理？

Oh yeah, no, they should, and they will, I mean, we're rolling out new products. So, the good thing about the booking numbers and so systems are a little more challenging like depending on the system type, the fact that we they were 5,000 actually was a good thing because we could build them faster. They're easier machines to make.

哦，是的，他們應該這樣做，而且他們也會這樣做，我的意思是，我們正在推出新產品。所以，預訂數量和系統的好處在於，它們更具挑戰性，例如取決於系統類型，事實上我們有 5,000 個預訂量是一件好事，因為我們可以更快地建立它們。這些機器更容易製造。

China is I mean the order was in China, the Shanghai facility built them and delivered them. So that was a unique situation. Super. That's why we would focus so hard on getting over this UFS, not only just to complement or be able to show that we can actually do this and be able to get high yields on UFS technology because there are multiple protocols out there.

我的意思是，訂單是在中國下的，上海工廠生產並交付的。所以那是一個特殊情況。極好的。這就是為什麼我們要如此努力地攻克 UFS 技術，不僅是為了補充或證明我們確實可以做到這一點，並且能夠在 UFS 技術上獲得高產量，因為目前存在多種協議。

The sweet spot right now for UFS is 3.1 and about 128 gigabytes, but there's already 256s out there, there's 512s coming and 1 terabyte's coming in 2027. So, the unique thing about this is we were able to book and ship within the quarter, a decent amount of those systems to help the quarter, so yeah, that's, that was the big help there.

目前 UFS 的最佳規格是 3.1 版本，容量約為 128 GB，但市面上已經有 256 GB 的 UFS，512 GB 的 UFS 即將推出，1 TB 的 UFS 將於 2027 年推出。所以，這件事的獨特之處在於，我們能夠在季度內預訂並交付相當數量的系統，以幫助本季度，所以，是的，這就是最大的幫助。

Okay, all right, terrific. And then, sort of getting to the gross margins, I guess I'm a little less concerned about it, but, quarter to quarter, but tell me about the spread of the spread of the margins across your products. How wide of a spread do we have to think about in terms of next? I mean, are some at 70 and some at 30, or is everyone kind of in this 45?

好的，太棒了。至於毛利率，我並不是不關心，但是，請您談談貴公司各產品毛利率的分佈。接下來我們需要考慮多大的差距？我的意思是，有些人是70歲，有些人是30歲，還是大家都差不多45歲？

No, like, it's a good question actually. The board asked that question yesterday. We need to do a little bit more homework on that so we can identify. One of the things that manufacturing implemented, at the beginning of the year is that we didn't do a good job of true cost accounting at the labor level, right, to really understand what our margins are product to product. So, I had Dwayne Jones as our VP of manufacturing. It's awesome at what he does he's been here for 30 years, and he's been crying for this opportunity to be able to track the data as we build.

不，其實這是個好問題。董事會昨天提出了這個問題。我們需要對此做更多研究，以便能夠確定原因。今年年初，製造部門實施的一項措施是，我們之前在勞動力層面沒有做好真正的成本核算，所以無法真正了解我們各個產品的利潤率。所以，當時我的製造副總裁是德韋恩瓊斯。他工作能力很強，在這裡工作了 30 年，他一直渴望有這個機會，在我們建設的過程中追蹤數據。

And so they've been doing that and then we'll start to be able to do true act we are doing true activity based accounting on manufacturing because we understand the exact margins of those products and look, manual systems are going to have a much, light sockets very similar margins of sockets, maybe even more, because as we build leverage on the platform we can also increase our pricing and that increase in pricing and you know as I looked at how we price things, we tend to mark up the things we don't make pretty high and I don't think we mark up our core platform and we invest our capital high enough.

所以他們一直在這樣做，然後我們就能開始真正地對製造業進行基於活動的會計核算，因為我們了解這些產品的確切利潤率。你看，手動系統的利潤率會高得多，燈座的利潤率也會非常相似，甚至可能更高，因為隨著我們利用平台建立槓桿效應，我們也可以提高價格。你知道，當我審視我們的定價方式時，我們往往會把那些我們自己不生產的東西的價格定得很高，而我認為我們對核心平台和投資的利潤率不夠高。

So we're going to start breaking some of this stuff out, just especially internally so that you know where we're spending the money accurately shows the generation of revenue and the gross margin contribution to the company and so, then when they talk about investing in the core, people will get excited, right, because they'll see the real value that we drive by making those investments and what we do, which is building programmers, not analysts.

所以我們要開始把這些事情細化一下，尤其是在內部，這樣你們就能清楚地知道我們的錢都花在了哪裡，準確地反映出收入的產生和對公司的毛利率貢獻。這樣，當他們談到對核心業務的投資時，人們就會感到興奮，對吧？因為他們會看到我們透過這些投資帶來的真正價值，以及我們所做的工作——培養程式設計師，而不是分析師。

We do, the PSV line is kind of aged at this point. It's been over ten years, around ten years since the first PSV was announced we are looking at new automation, designs now and we'll start hopefully a project plan by Q1, but we're going to simplify the systems, and by simplification it actually leads to a much lower cost. So, we'll have increased margins, but we're also looking at the market a little differently than putting everything in one platform and one machine.

是的，PSV這條線現在確實有點老了。自從第一輛 PSV 發布以來已經過去了十多年，大約十年了，我們現在正在研究新的自動化設計，希望能夠在第一季啟動一個專案計劃，但我們將簡化系統，而簡化實際上可以大大降低成本。因此，我們的利潤率會提高，但我們看待市場的方式也與以往不同，不再把所有東西都放在一個平台和一台機器上。

We'll still make probably the 7,000. We'll do some advances on it, change the smackhead so we'll increase speed and QPH but when you have a large system that moves in multiple directions, they just will tend to break down more, is, and we try to give customers the right information on what to maintain, but they don't always do it. So by going to a single gantry and a very high speed pickhead, we can get probably a lot, probably a 50% increase in throughput and a machine that's far less to build and far simpler to manage and so and it has a smaller footprint.

我們大概還是能達到7000這個數字。我們會進行一些改進，改變攪拌頭，以提高速度和每小時產量，但是當一個大型系統向多個方向移動時，它們更容易發生故障，我們努力為客戶提供正確的維護信息，但他們並不總是這樣做。因此，透過採用單一龍門架和高速拾取頭，我們可以獲得很大的吞吐量提升，可能達到 50%，而且機器的建造成本更低，管理也更簡單，佔地面積也更小。

So again, these are just design thoughts but definitely doable and it what it does is it should increase up time for our customers but also lower maintenance costs and higher throughput. I mean that's a pretty large value that they get there and then the second part of that will be breaking off some of the I/O's and put that in a separate system, meaning marking and tape and rail. Tape and rail will still be able to go tape to tape or trade to tape in the programmer platform, automation platform, but there's a real need for a system that just does those services complimentary to programming but also individually in their supply chain.

所以，這些只是設計思路，​​但絕對可行。這樣做可以提高客戶的正常運作時間，同時降低維護成本，提高吞吐量。我的意思是，他們在那裡獲得的收益相當可觀，然後第二部分是將一些 I/O 分離出來，並將其放入單獨的系統中，這意味著標記、膠帶和導軌。在程式設計平台和自動化平台上，磁帶和軌道仍然可以進行磁帶到磁帶或磁帶到磁帶的交易，但確實需要一個系統，該系統不僅可以作為編程的補充，還可以在供應鏈中單獨提供這些服務。

So, I think we could put a package of two systems that marry up to each other that provide customers a wider variability to manage their supply chain like if they had parts that came in and some of them were bent in the reels, they could run vision inspection on that machine and not do.

所以，我認為我們可以推出一個包含兩個相互配合的系統的組合包，為客戶提供更廣泛的供應鏈管理靈活性，例如，如果他們收到的零件中有些在捲軸上彎曲了，他們可以在那台機器上運行視覺檢測，而無需進行其他操作。

So I think it expands our market as well in automation in general. I mean, the whole purpose is on the programming side, but why not have a machine that's universal that's got a good price point that you can do other services on it. The programming houses will love it. The contract manufacturers will love it because they can build that into their supply chain, so.

所以我認為這也擴大了我們在自動化領域的市場。我的意思是，它的全部目的在於程式設計方面，但是為什麼不擁有一台價格合理、功能通用的機器，可以在上面提供其他服務呢？程式設計公司肯定會喜歡它。代工製造商會非常喜歡它，因為他們可以將其納入自己的供應鏈中。

(Operator Instructions)

（操作說明）

George Marema, Parato Ventures.

喬治‧馬雷瑪，帕拉托創投公司。

Thank you. Good afternoon, Bill.

謝謝。下午好，比爾。

Hey, George, how are you?

嘿，喬治，你好嗎？

I’m well. I'm, first, I just want to say I'm absolutely thrilled with the team's energy and the big positive cultural shift going on there. It's like an entrepreneurial startup, and I'm just thrilled about this.

我很好。首先，我想說，我對團隊的活力和正在發生的巨大正向文化轉變感到非常興奮。這就像一家新創公司，我對此感到非常興奮。

It is, I will tell you, I changed the work from home policy a few weeks ago. Not everybody loved it, but I will tell you in the last four weeks it's amazing the amount of collaboration we have now. I've got the software team in here altogether they're here on fixed days.

沒錯，我告訴你，幾週前我更改了居家辦公政策。雖然不是每個人都喜歡這種方式，但我可以告訴你，在過去的四周裡，我們之間的合作程度令人驚訝。軟體團隊都在這裡，他們固定時間上班。

You can see the collaboration growing, which is, it will just extend into the value that will be driving in the second half. I mean some of the software team came out and fixed the old product. When we get this thing out there, it is the amount of value that it's going to give our customers is I was just blown away when they did the demo last week. I mean, it's pretty special what's going on in the building right now.

你可以看到合作正在不斷發展，也就是說，這種合作將會延伸到下半年，並帶來相應的價值。我的意思是，軟體團隊的部分成員出來修復了舊產品。當我們把這個產品推向市場時，它將為我們的客戶帶來巨大的價值。上週他們做示範的時候，我簡直驚呆了。我的意思是，現在這棟大樓裡發生的事情非常特別。

That’s great to hear. A couple of questions. One is, on this $1.4 million dollar EV order from China, what kind of penetration does this represent into this company and does it meet all their needs and what does this replace that they were using?

聽到這個消息真是太好了。有幾個問題。第一個問題是，這筆來自中國的 140 萬美元電動車訂單，對這家公司來說意味著什麼？它是否滿足了他們所有的需求？它取代了他們之前使用的什麼產品？

It didn't replace. It's, obviously the Chinese EV market is doing very well inside of China and also outside of China where they don't have massive tariffs put on their cars and can actually sell them. So, you know that is they were an existing customer already had 20 systems. So, this is adding to their demand.

它並沒有取代。很顯然，中國電動車市場在中國國內發展得非常好，在國外也發展得很好，因為國外對中國汽車徵收的關稅不高，所以他們可以放心地銷售電動車。所以，你知道他們是現有客戶，已經擁有 20 套系統。因此，這增加了他們的需求。

So, an existing customer, and that's why, the configuration was what we expected from them and price point we kind of knew and look, it was a great order to overcome the UFS technology is something that they already use. It's also so that was 4.0 because they were going to make a new investment and those systems are on a product that's going to adopt the 4.0. Protocols like I said earlier, the 3.1 is the sweet spot today. They use that in our system for that as well and have been dealing with the yield issue.

所以，這是現有客戶，因此配置符合我們的預期，價格也在我們的預料之中。而且，這是一個很棒的訂單，可以克服他們已經在使用的 UFS 技術帶來的挑戰。之所以是 4.0 版本，是因為他們要進行新的投資，而這些系統都是基於即將採用 4.0 協議的產品。就像我之前說的，目前 3.1 版本是最佳選擇。他們也在我們的系統中使用這種方法，並且一直在處理產量問題。

It's why we were they were like, look, we're not going to place an order unless you can show us you can conquer this, and we did, and we got the order. I mean we work the engineers worked literally 24/7 for eight weeks. I mean it was. It was hardcore and so and they accomplished a phenomenal goal which also gave them all the hope that we know we can conquer the 3.1 and all our competitors are having the same problems.

這就是為什麼他們說，除非你們能證明你們可以解決這個問題，否則我們不會下訂單，而我們做到了，我們也拿到了訂單。我的意思是，我們的工程師連續八週每天24小時不間斷地工作。我的意思是，確實如此。這非常艱苦，他們實現了驚人的目標，這也給了他們所有人希望，我們知道我們可以征服 3.1，而且我們所有的競爭對手都面臨著同樣的問題。

Once we solve this yield issue, I believe this pent-up demand in the 3 the sweet spot right now, so. I can't say that, confirmatory, with 100% confidence it's just a feeling, but I think customers have also held back in general offline program until this problem can be resolved, and they're just managing through. They can get enough yield to build the products, but if I was them, I wouldn't be happy either. But we're giving them a lot of hope that we not hope because we've shown them that we can fix this and so we're pretty close on 3 I would say we're probably four to six weeks again, that's just the range and it may be 8, but we will get 3.1 solved by the end of this quarter.

一旦我們解決了收益率問題，我相信目前3號車型的這種被壓抑的需求將會得到釋放，因為這正是目前的最佳時機。我不能百分之百肯定地說這是事實，這只是我的感覺，但我認為客戶們也普遍對線下活動有所保留，直到這個問題得到解決，他們只是在勉強應付。他們可以獲得足夠的產量來生產產品，但如果我是他們，我不會滿意。但我們給了他們很多希望，我們自己並沒有抱太大希望，因為我們已經向他們證明我們可以解決這個問題，所以我們離3.1版本已經很近了。我想說，我們可能還需要四到六週的時間，這只是一個範圍，也可能是八週，但我們會在本季末之前解決3.1版本的問題。

So let me go with that. So if you get if you get that solved and then the 4.0, like, can you sort of describe best you can sort of the what kind of dollar market opportunity does that represent for you guys if you solve these problems and also does the profile of this solution have the same type of recurring adapter revenue or is it less or more or Same.

那就讓我這樣吧。所以，如果你們解決了這個問題，然後是 4.0 版本，你們能否盡可能詳細地描述一下，如果你們解決了這些問題，這對你們來說代表著什麼樣的美元市場機會？此外，此解決方案的經常性適配器收入是否與現有方案相同、更少、更多或相同？

Oh no, it would same adapt to revenue and all that, yeah, none of that changes. If anything, they probably would increase obviously as they move into more of using UFS across their entire platform. But I tell you, it's not just Asia, it's Korea, it's Europe, it's, there's not much UFS, believe it or not a ton in Mexico, but it's coming.

喔不，它仍然會根據收入等因素進行調整，是的，這些都不會改變。如果有什麼變化的話，那就是隨著他們在整個平台上更多地使用UFS，這些數字很可能會顯著增加。但我告訴你，不只是亞洲，還有韓國、歐洲，還有，信不信由你，墨西哥有很多UFS，但它正在到來。

So as more and more adoption of the UFS and NBME too, which is something we haven't talked about before, but it is a technology that also is growing at 14% keger. We actually, ironically, the bench equipment was already here to start working on it. It was just never implemented.

因此，UFS 和 NBME 的採用率越來越高，這是我們以前沒有討論過的，但這項技術也以 14% 的速度成長。諷刺的是，我們其實已經準備好了工作台設備，可以開始工作了。只是從未付諸實行。

So, it's hard for me to put in dollars because again, like if I look at the Korea customers, they bought 7,000, they didn't buy 5,000, so they would load up because they're using a ton, especially in consumer, some in automotive, but in the consumer side you're driving large volumes of UFS. So in Korea they would configure those systems with pretty much all Luminex, no flashboard.

所以，我很難用美元來衡量，因為，像我看看韓國的客戶，他們買了 7000 個，而不是 5000 個，所以他們會大量購買，因為他們用量很大，尤其是在消費領域，一些在汽車領域，但在消費領域，UFS 的使用量很大。所以在韓國，他們會把這些系統配置成幾乎全是 Luminex 晶片，沒有快閃記憶體板。

So it it's hard for me to give you a very direct answer because it's literally region by region and it's also market by market that makes sense?

所以，我很難給你一個非常直接的答案，因為這確實是因地區而異，而且也是因市場而異，這樣說得通嗎？

Yeah, suffice to say it's a large opportunity though, yeah, so.

是的，可以說這是一個很大的機會，沒錯。

Yeah, well, of course, and it's like I said 14% it's twice the overall semi so yeah it would be crazy not to conquer this. I mean it's where literally a significant amount of our engineering time is being spent right now. We really, we, I dumped a lot of the programs that were in the business, in Q4, pretty much all of them, because one, it wasn't investing in the core and it wasn't solving the problem, what I found was and as a board member, just became recently aware of the UFS, but until you get under the coverage, you don't really know what's going on.

是啊，當然了，就像我說的，14%是半決賽整體的兩倍，所以如果不拿下這個冠軍就太瘋狂了。我的意思是，我們目前確實把大量的工程時間都花在了這上面。第四季度，我幾乎放棄了公司裡的所有項目，因為一方面，這些項目沒有投資於核心業務，另一方面，它們也沒有解決問題。作為董事會成員，我最近才了解到UFS，但除非你深入了解，否則你不會真正知道發生了什麼。

I mean, they could flash up a bunch of reports that says we solve this, we solved that. In reality, a lot of it was not solved. So, it's not because, they were kind of guessing as to where they should focus to solve. And I will tell you from my experience of being intimately involved in this right now. Is that it's literally 4 or 5 areas of our technology and our automation and socketing is a huge part of this, right? So, contacting the device and also the Luminex platform is eight sites.

我的意思是，他們可以拿出一堆報告，說我們解決了這個問題，我們解決了這個問題。事實上，很多問題都沒有解決。所以，這並不是因為他們在猜測應該把精力集中在哪個方面來解決問題。我將以我目前親身參與其中的經驗來告訴你。這實際上涉及我們技術的 4 到 5 個領域，而我們的自動化和插座技術是其中非常重要的一部分，對嗎？因此，聯繫該設備以及 Luminex 平台共有八個站點。

Eight sites was okay with EMC, not okay with UFS and so, by the new platform goes down to four sites, which gives us much more power to every pin on the device, which you need to access multiple of these pins because you're dealing with such complexity in the device itself.

EMC 可以接受八個站點，但 UFS 不接受，因此，新平台減少到四個站點，這讓我們能夠為設備上的每個引腳提供更大的功率，因為您需要訪問多個引腳，因為設備本身非常複雜。

So, we can solve it with what we refer to as M8 but M4 will definitely be which gets launched in November, but we're, we've been able to do some pretty special things even on the existing platform like 4.0, which is fairly complex communication handshake needs, but I will say from 31 to 40, the suppliers themselves have gotten better because even some of them implement these protocols in variable different ways.

所以，我們可以用我們稱之為 M8 的東西來解決這個問題，但 M4 肯定會在 11 月推出，但是，即使在現有的平台上，我們也能夠做一些非常特別的事情，比如 4.0，它需要相當複雜的通信握手，但我要說的是，從 31 到 40，供應商本身也變得更好了，因為即使是他們以不同的方式實現了一些不同的方式。

That's the other complexity. It's not the same across all the silicon providers. Some are really good at it like Micron and I won't call out the ones that don't do a great job, but there are some that it's a bigger area of grey, so you have to have the right bench equipment to do that and to identify that and understand it.

這就是另一個複雜之處。並非所有矽供應商都採用相同的做法。有些公司在這方面做得非常好，例如美光，我不會點名批評那些做得不好的公司，但有些公司在這方面做得不好，存在一些灰色地帶，所以你必須擁有合適的實驗設備才能做到這一點，才能識別和理解它。

So the team is learning a lot and I think through these challenges, we're going to up our ante in these in these consortiums we're actually going to be a real member of these different committees and we'll have representation at those large committee meetings when they start talking about the protocols and stuff so we're ahead of us all the time in the future, so.

所以團隊正在學習很多東西，我認為透過這些挑戰，我們將提高我們在這些聯盟中的水平，我們將真正成為這些不同委員會的真正成員，我們將在那些大型委員會會議上擁有代表權，當他們開始討論協議等等時，所以我們將來會一直領先一步。

And ladies and gentlemen, at this time, we've reached the end of the question-and-answer session. I'd like to turn the floor the floor back over to management for any closing remarks.

女士們、先生們，問答環節到此結束。我想把發言權交還給管理階層，請他們作總結發言。

Well, I just want to thank everybody for taking the time to listen to our spiel. We're very excited about where we're going, the team is as energetic as ever. I think it seems to be increasing week after week.

好了，我只想感謝大家抽空聽我們講完。我們對自己的未來充滿信心，團隊也一如既往地充滿活力。我覺得它似乎每週都在增加。

We've got some people that retired, and I put them on contract because of their knowledge, and now they're thinking, I don't know if I want to retire. I'm like, sorry, no, I'm kidding. I mean, love to keep them around. These are people with 20, 25, 30 years of experience. That's one of the other things that we're really going to start to drive in our customer presentations is why do you choose Data I/O?

我們有一些退休人員，我因為他們的知識儲備而與他們簽訂了合同，現在他們開始考慮是否要退休了。我心想，不好意思，不，我開玩笑的。我的意思是，我很想把它們留在身邊。這些人都有20年、25年、30年的經驗。這也是我們將在客戶演示中著重強調的另一件事，那就是為什麼選擇 Data I/O？

I can tell you Dwayne Jones has been here for 30 years. That's 10 years longer than Daddy Frog, one of our competitors, even been alive. So to not promote that educate the knowledge base that's in this building, it just needed to be unlocked, and that's what we're doing, and I think it's obviously helping us solve these complex problems and get to where we need to go, but it's also driven a lot of excitement and the collaboration, like I said, we've got some interns in here now that are learning and that they're loving doing the business, they're learning what they're learning they love.

我可以告訴你，德韋恩瓊斯已經在這裡待了30年了。這比我們的競爭對手之一「青蛙爸爸」的壽命還要長 10 年。所以，為了不去推廣這棟大樓裡已有的知識庫，我們需要做的就是把它解鎖，而這正是我們正在做的。我認為這顯然有助於我們解決這些複雜的問題，並達到我們想要的目標。而且，它也激發了許多熱情和合作。就像我說的，我們現在有一些實習生在這裡學習，他們很喜歡做這份工作，他們學到的東西都是他們喜歡的。

And some of our best hardware engineers were those very interns, five years ago. So yeah, I just think as we build more and more knowledge, we need to be viewed as the experts in this space, and that's what we're doing.

而我們一些最優秀的硬體工程師，正是五年前的那些實習生。所以，我認為隨著我們累積的知識越來越多，我們需要被視為這個領域的專家，而這正是我們正在做的。

So I want to thank everybody, it was definitely a hard quarter this was not easy. The first two months were ugly, and we had a great close to the quarter. My goal was to get through the first half a little unscathed, I guess, and not too many scars, because I know the second half is going to be better.

所以我要感謝大家，這絕對是一個艱難的季度，並不容易。前兩個月情況很糟糕，但我們在季度末取得了不錯的成績。我的目標是盡量毫髮無傷地度過上半程，不要留下太多傷痕，因為我知道下半程會更好。

So, thanks everyone.

謝謝大家。

And ladies and gentlemen, with that, we'll conclude today's conference call and presentation. We thank you for joining. You may now disconnect your lines.

女士們、先生們，今天的電話會議和演示就到此結束。感謝您的參與。現在您可以斷開線路了。