Intrusion Inc (INTZ) 2024 Q1 法說會逐字稿

Welcome to intrusion Inc.'s first quarter 2024 Earnings conference call and webcast.

歡迎參加 intrusion Inc. 2024 年第一季財報電話會議和網路廣播。

(Operator Instructions) Please note this conference is being recorded.

（操作員說明）請注意，本次會議正在錄製中。

(Operator Instructions)

（操作員說明）

I would now like to turn the call over to Josh Carroll with Investor Relations.

我現在想將電話轉給投資者關係部的喬許·卡羅爾。

Thank you, and welcome Joining me today are Tony Scott, Chief Executive Officer; and Kimberly Pinson, Chief Financial Officer.

謝謝，歡迎今天加入我的是執行長 Tony Scott；和財務長 Kimberly Pinson。

This call is being webcast and will be archived on the Investor Relations section of our website.

此次電話會議正在網路上直播，並將存檔在我們網站的投資者關係部分。

Before I turn the call over to Tony, I'd like to remind everyone that statements made during this conference call related and the company's expected future performance, future business prospects, future events our plans may include forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995.

在我將電話轉給托尼之前，我想提醒大家，本次電話會議中所做的陳述與公司預期的未來業績、未來業務前景、未來事件有關，我們的計劃可能包括私人聲明中定義的前瞻性陳述。

Please refer to our SEC filings for more information on the specific risk factors that could cause our actual results to differ materially from the projections described in today's conference call.

請參閱我們向 SEC 提交的文件，以了解有關可能導致我們的實際結果與今天電話會議中描述的預測存在重大差異的具體風險因素的更多資​​訊。

Any forward-looking statements that we make on this call are based upon information that we believe as of today, and we undertake no obligation to these statements as a result of new information or future events.

我們在本次電話會議中所做的任何前瞻性陳述均基於我們截至目前所相信的信息，我們對因新資訊或未來事件而導致的這些陳述不承擔任何義務。

In addition to US GAAP reporting, we report certain financial measures that do not conform to generally accepted accounting principles.

除了美國公認會計準則報告外，我們還報告某些不符合公認會計原則的財務指標。

During the call, we may use non-GAAP measures if we believe it is useful to investors, if we believe it will help investors better understand our performance or business trends.

在電話會議期間，如果我們認為非公認會計原則對投資者有用，如果我們認為這將有助於投資者更好地了解我們的業績或業務趨勢，我們可能會使用非公認會計準則衡量標準。

With that, let me now turn the call over to Tony for a few opening remarks.

現在，讓我將電話轉給東尼，讓他做一些開場白。

Thank you, Josh, and good afternoon, and thank you all for joining us today.

謝謝喬希，下午好，謝謝大家今天加入我們。

As I think many of you know, the first quarter in the first few weeks of the second quarter have been filled with multiple milestones as we worked through the many challenges presented to us.

我想你們很多人都知道，第一季和第二季的前幾週充滿了多個里程碑，因為我們克服了向我們提出的許多挑戰。

I'll cover many of the specifics in greater detail shortly, but I'd like to first begin by discussing our current stock price and market cap, which I believe are grossly undervalued and are not reflective of the true comparative value of our company and our technology.

我很快就會更詳細地介紹許多細節，但我想先討論我們當前的股價和市值，我認為這些價格和市值被嚴重低估，並且不能反映我們公司的真實相對價值和我們的技術。

This issue remains top of mind for me and I'm sure for all of you, multiple members of our executive team, including myself and many of our existing long-term shareholders have continued to increase their investments in Intrusion's stock for which I am grateful.

這個問題仍然是我最關心的問題，我相信你們所有人、我們執行團隊的多名成員，包括我自己和我們許多現有的長期股東，都在繼續增加對Intrusion 股票的投資，對此我深表感謝。

You've heard from me on multiple occasions about my optimism for the future of intrusion based on our unique core technology and based on our continued investment in and development of our unparalleled technology to ensure that we can address the most challenging cybersecurity issues of our time.

您曾多次從我那裡聽到我對入侵未來的樂觀態度，這是基於我們獨特的核心技術以及我們對無與倫比的技術的持續投資和開發，以確保我們能夠解決當今時代最具挑戰性的網絡安全問題。

We've recently announced some important customer wins, which validate that optimism, and I want you to know that my optimism for our future is only increasing.

我們最近宣布了一些重要的客戶勝利，這證實了這種樂觀情緒，我想讓你們知道，我對我們未來的樂觀情緒只會與日俱增。

Turning now to our sales activity, during the last call, we discussed the addition of seven new logos and we continue to build off this strong bookings momentum with the addition of five new logos as these new customers operate in a variety of different sectors, including natural gas exploration and development, water utilities and the government sector.

現在轉向我們的銷售活動，在上次電話會議中，我們討論了添加七個新徽標，並且隨著這些新客戶在各個不同領域開展業務，我們將繼續透過添加五個新徽標來增強這一強勁的預訂勢頭，包括天然氣勘探和開發、水務和政府部門。

The deployment of our technology and the revenue associated with these deployments will ramp up over the next few quarters.

我們的技術的部署以及與這些部署相關的收入將在接下來的幾個季度中不斷增加。

This is a pattern we expect to see more of with respect to the larger enterprises that we're engaged with.

我們希望在與我們合作的大型企業中看到更多這種模式。

Now for an update on some of our recent partnership activity.

現在介紹我們最近的一些合作夥伴活動的最新情況。

As you may recall, from our fourth quarter earnings call, we were notified that through our partner iOne resources in the Philippines.

您可能還記得，在我們第四季的財報電話會議上，我們透過我們在菲律賓的合作夥伴 iOne 資源獲悉這一情況。

Our technology had been down-selected to be a part of an award that would help protect the cyber security and integrity of the national elections in the Philippines.

我們的技術被淘汰，成為一項有助於保護菲律賓全國選舉的網路安全和完整性的獎項的一部分。

We're happy to announce that we've received confirmation a few weeks ago that our partner iOne resources was awarded the final contract to supply secure electronic transmission services for the 2025 midterm elections in the Philippines.

我們很高興地宣布，幾週前我們收到確認，我們的合作夥伴 iOne resources 已獲得最終合同，為菲律賓 2025 年中期選舉提供安全電子傳輸服務。

This is an important contract for both iOne and intrusion and has a total bid price of approximately $25 million.

這對 iOne 和 intrusion 來說都是一份重要的合同，總投標價約為 2500 萬美元。

Secure electronic transmission services are scheduled to be fully operational by November 2024 and will begin contributing to our earnings in the second half of this year.

安全電子傳輸服務計劃於 2024 年 11 月全面運營，並將於今年下半年開始為我們的收入做出貢獻。

We are working with all the relevant parties to determine the optimal deployment architecture for this solution, and we will know much more about the specific quantities and deployment time line for our solutions shortly.

我們正在與所有相關方合作，以確定該解決方案的最佳部署架構，我們很快就會了解更多有關我們解決方案的具體數量和部署時間表的資訊。

We anticipate the revenue from this one contract will be a minimum of $1 million ARR with the likelihood that it will become greater over time.

我們預計這筆合約的收入將至少為 100 萬美元 ARR，隨著時間的推移，該收入可能會變得更高。

We are continuing to see additional momentum from some of our other partnerships as well, which is evident by our announcement last week with our partner total information management with whom we announced an agreement to enhance the supply chain security for their customer Orco cold chain solutions.

我們也繼續看到其他一些合作夥伴的額外動力，上週我們與合作夥伴全面資訊管理公司宣布達成協議，以增強其客戶 Orco 冷鏈解決方案的供應鏈安全，這一點就顯而易見。

Under the terms of the agreement, Tim will provide Intrusion's advanced threat detection and prevention solutions to worker cold chain solutions to help protect their sensitive data and prevent disruption to the cold chain, ensuring the integrity and safety of perishable goods.

根據協議條款，Tim 將向工人冷鏈解決方案提供 Intrusion 的先進威脅偵測和預防解決方案，以協助保護他們的敏感資料並防止冷鏈中斷，確保易腐爛貨物的完整性和安全性。

This new agreement comes after a successful pilot program with Orica cold chain solutions and resulted in the company deciding to purchase Intrusion's applied threat intelligence for three years.

這項新協議是在 Orica 冷鏈解決方案成功試點計畫之後達成的，並導致該公司決定購買 Intrusion 的應用威脅情報三年。

This agreement is already in effect, and we will begin to see the revenue benefits of this agreement beginning in our second quarter.

該協議已經生效，我們將從第二季開始看到該協議帶來的收入收益。

We've also been awarded a new order for intrusion seal from our traditional government customer base.

我們也從傳統政府客戶群獲得了新的防盜密封訂單。

We began servicing this in Q2, and the revenue from this new order is expected to more than offset the lost shield revenue we discussed in last quarter's call, but it also marks a milestone in terms of government adoption of shield technology above and beyond the traditional consulting business we've long enjoyed.

我們在第二季度開始提供服務，預計這項新訂單的收入將超過我們在上季度電話會議中討論的屏蔽收入損失，但它也標誌著政府採用超越傳統屏蔽技術的里程碑我們長期以來一直享受的諮詢業務。

To wrap up on the partnership front.

最後總結一下合作關係。

We also announced back in April that we had agreed to acquire a minority stake in clever AI, a Houston, Texas based artificial intelligence company in an all-stock transaction.

我們也在四月宣布，我們同意透過全股票交易收購 smart AI 的少數股權，該公司是一家位於德克薩斯州休士頓的人工智慧公司。

Klever AI is a cutting edge technology company at the forefront of the artificial intelligence revolution and has been helping organizations thrive in the digital age by developing innovative and practical AI and machine learning solutions that assist in transforming businesses generally.

Klever AI 是一家處於人工智慧革命前沿的尖端技術公司，一直透過開發創新實用的人工智慧和機器學習解決方案來幫助組織在數位時代蓬勃發展，從而幫助企業實現整體轉型。

Klever AI currently operates in a wide range of industries such as health care, security, finance and IoT.

Klever AI目前在醫療保健、安全、金融和物聯網等廣泛行業開展業務。

Over the past two years, Klever AI has been both a partner and a customer of intrusion assisting with both the design and development of shield endpoint and cloud solutions as well as incorporating shield technology as a part of its customer solutions.

在過去的兩年裡，Klever AI 既是入侵的合作夥伴也是客戶，協助設計和開發 Shield 端點和雲端解決方案，並將 Shield 技術納入客戶解決方案的一部分。

We are excited to make this investment in Klever AI, which will not only continue to help improve our shield technology in our evolving marketplace.

我們很高興對 Klever AI 進行這項投資，這不僅將繼續幫助我們在不斷發展的市場中改進我們的屏蔽技術。

But will also help broaden our customer penetration into multiple industries.

但也將有助於擴大我們的客戶滲透到多個行業。

Last week at the RSA conference, every supplier of cybersecurity technology and attendance was touting its AI capabilities, and we will not be left behind in this important area.

上週的 RSA 會議上，每家網路安全技術供應商和與會者都在吹捧其人工智慧能力，我們不會在這個重要領域落後。

With respect to our product development efforts, we're continuing to invest in our shield technology overall and specifically in our efforts to strengthen the multi-instance management aspects of shield as well as additional capabilities in our endpoint and cloud solutions, including continuing to enhance our AI and machine learning capabilities.

在我們的產品開發工作方面，我們將繼續投資於我們的 Shield 技術，特別是我們努力加強 Shield 的多實例管理方面以及我們的端點和雲端解決方案中的其他功能，包括繼續增強我們的人工智慧和機器學習能力。

All of this development is driven by customer input and market demands.

所有這些發展都是由客戶投入和市場需求所驅動的。

And as I've said before, gives me confidence that we can be relevant for a long time in the future.

正如我之前所說，這讓我相信我們可以在未來很長一段時間內發揮作用。

Now briefly on to our financials.

現在簡單介紹一下我們的財務狀況。

As you'll hear from Kim later in greater detail, total revenue for the first quarter was $1.1 million, representing a $0.2 million decrease on a sequential basis.

您稍後會從 Kim 那裡聽到更詳細的信息，第一季的總收入為 110 萬美元，比上一季減少 20 萬美元。

The decline in revenue during the first quarter of 2024 was driven by a decrease in consulting revenue that was primarily the result of the continuing resolution with the federal budget not being approved until last week of the first quarter.

2024 年第一季收入下降的原因是諮詢收入減少，這主要是由於聯邦預算直到第一季上週才獲得批准而導致持續決議的結果。

That hindered the timing of task awards on existing contracts and the issuance of new contract awards.

這阻礙了現有合約的任務授予和新合約授予的發放時間。

With the recent awards I've mentioned, we expect that we will see meaningful growth in the second half of 2024.

憑藉我提到的最近的獎項，我們預計 2024 年下半年將實現有意義的成長。

And finally, before I turn the call over to Kim to cover our financial results in greater detail.

最後，在我將電話轉給 Kim 之前，請他更詳細地介紹我們的財務表現。

I would first like to spend a few minutes discussing the recent steps that we've taken to regain compliance with NASDAQ for continued listing on the NASDAQ capital markets as it relates to the minimum bid price of $1 and the equity standard.

我首先想花幾分鐘討論一下我們最近為重新符合納斯達克要求而採取的措施，以繼續在納斯達克資本市場上市，因為這涉及到 1 美元的最低買入價和股權標準。

On April 22, we announced that we had closed on a private offering pursuant to which we sold an aggregate of $1.3 million shares of our common stock, each of which is coupled with a warrant to purchase two shares of common stock at an aggregate offering price of $1.95 per share.

4 月 22 日，我們宣布完成私募發行，根據該發行，我們出售了總計 130 萬美元的普通股，每股均附有以總發行價購買兩股普通股的認股權證每股 1.95 美元。

Private offering resulted in net proceeds to intrusion of $2.6 million, and we intend to use the net proceeds from the private offering for working capital and general corporate purposes.

私募發行帶來的淨收益為 260 萬美元，我們打算將私募發行的淨收益用於營運資金和一般公司用途。

This offering was the final step in our plan to achieve compliance with the NASDAQ minimum equity standard.

此次發行是我們遵守納斯達克最低股本標準計畫的最後一步。

And as a result of this private offering, our recently effectuated one for 20 reverse stock split and our exchange agreement of debt to preferred stock with street real capital.

由於這次私募發行，我們最近實施了 20 股反向股票分割，以及我們的債務與街頭實際資本優先股的交換協議。

We received notice from NASDAQ on May 1, notifying us that we had regained compliance with the minimum bid price and the equity requirements for continued listing on the NASDAQ capital market.

5月1日，我們收到納斯達克的通知，通知我們已重新符合納斯達克資本市場繼續上市的最低出價和股權要求。

I would like to thank our staff, our partners and our long-term shareholders for helping us execute our plan to regain compliance.

我要感謝我們的員工、合作夥伴和長期股東幫助我們執行恢復合規的計畫。

With that, I'd like to turn the call over to Kim for a more detailed review of our first quarter financials.

說到這裡，我想把電話轉給 Kim，讓他對我們第一季的財務狀況進行更詳細的審查。

Kim?

金？

Thanks, Tony.

謝謝，托尼。

Revenues for the first quarter of 2024 were $1.1 million, a decrease of $0.2 million on both a sequential and year-over-year basis.

2024 年第一季的營收為 110 萬美元，季減比均減少 20 萬美元。

Consulting revenue in the first quarter totaled $0.7 million, a decrease of $0.2 million sequentially and $0.3 million year-over-year.

第一季諮詢收入總計 70 萬美元，季減 20 萬美元，年減 30 萬美元。

Shield revenue for the first quarter was $0.4 million, which was flat sequentially and up $0.1 million on a year-over-year basis.

第一季 Shield 營收為 40 萬美元，環比持平，年增 10 萬美元。

On our last earnings call, we announced that a large shield customer had decided not to renew their contract that would impact revenues beginning in Q2.

在我們上次的財報電話會議上，我們宣布，一家大型盾牌客戶決定不再續簽合同，這將影響第二季度開始的收入。

As a result of the recent government order, we expect shield revenues to remain flat or increase in Q2.

由於最近的政府命令，我們預計第二季的屏蔽收入將保持不變或增加。

We anticipate that the recent close deals and new awards, inclusive of the iOne resources award to supply the secure electronic transmission services for the 2025 midterm elections in the Philippines, will help drive shield revenue growth in 2024.

我們預計，最近達成的交易和新獎項，包括為菲律賓 2025 年中期選舉提供安全電子傳輸服務的 iOne 資源獎，將有助於推動 2024 年的收入成長。

Gross profit was 80% for the first quarter of 2024 compared to 76% in the first quarter of 2023.

2024年第一季的毛利為80%，而2023年第一季的毛利為76%。

The increase in gross profit margin in the current quarter is a result of product mix with shield revenues representing a higher percentage of revenues.

本季毛利率的成長是由於屏蔽收入佔收入比例較高的產品組合的結果。

Field revenues now represent 39% of revenues in Q1.

目前，現場收入佔第一季營收的 39%。

Operating expenses in the first quarter of 2024 totaled $3.4 million, a decrease of $0.1 million sequentially from the fourth quarter of 2023 as a result of the cost reduction measures that we implemented in March of last year and the savings initiatives that we continued to implement throughout 2023, we have now seen over $7 million in cost savings over the past 12 months.

2024 年第一季的營運費用總計 340 萬美元，比 2023 年第四季減少 10 萬美元，這是我們去年 3 月實施的成本削減措施以及我們全年持續實施的節約舉措的結果到2023 年，我們在過去12 個月內節省了超過700 萬美元的成本。

As we have noted on previous calls, as we grow our customer base and increase revenues, we may choose to accelerate our product development in future periods.

正如我們在先前的電話會議中指出的那樣，隨著我們擴大客戶群並增加收入，我們可能會選擇在未來加速我們的產品開發。

Our marketing spend to increase brand awareness, which will result in increased spending.

我們的行銷支出是為了提高品牌知名度，這將導致支出增加。

We will, however, continue to evaluate each spending decision while also making prudent investments in our long-term profitable growth.

然而，我們將繼續評估每項支出決策，同時對長期獲利成長進行審慎投資。

Net loss for the first quarter of 2024 was $1.7 million, an improvement of $1.1 million from our loss at $2.8 million for the fourth quarter of 2023 improved net loss in Q1 as a result of interest savings.

2024 年第一季的淨虧損為 170 萬美元，比 2023 年第四季的虧損 280 萬美元減少了 110 萬美元，由於利息節省，第一季的淨虧損有所改善。

During the quarter, we converted $9.5 million in street of old debt to $9.3 million of newly created Series A. preferred stock and $0.2 million to common stock.

在本季度，我們將 950 萬美元的舊債務轉換為 930 萬美元新創建的 A 輪優先股，將 20 萬美元轉換為普通股。

As a result of this conversion, we reversed the interest accretion associated with the ability to stock settle principal reductions when comparing the net loss to the same period in 2023, net loss improved by $3 million from a loss of $4.7 million for the 2023 quarter.

由於此次轉換，我們在將淨虧損與 2023 年同期進行比較時，扭轉了與股票結算本金減少相關的利息增加，淨虧損比 2023 年季度的 470 萬美元虧損減少了 300 萬美元。

Turning to the balance sheet, on March 31, we had cash and cash equivalents of $0.1 million our principal source for funding operations in the March 2024 quarter was through the issuance of two notes payable to Tony Scott totaling $1.3 million and the issuance of common stock using our at-the-market program of $0.5 million.

轉向資產負債表，截至3 月31 日，我們的現金和現金等價物為10 萬美元，2024 年3 月季度的主要資金來源是透過發行兩張應付託尼·斯科特的票據，總額為130 萬美元，以及發行普通股使用我們 50 萬美元的市場計劃。

Subsequent to March 31, as Tony mentioned earlier, we closed on a private offering, which provided net proceeds of $2.6 million.

3 月 31 日之後，正如托尼之前提到的，我們完成了私募發行，淨收益為 260 萬美元。

We also generated approximately $0.6 million in proceeds through the sale of common stock using a warrant inducement program, which temporarily lowered the warrant exercise price and included a reload warrant.

我們還透過使用認股權證激勵計劃出售普通股獲得了約 60 萬美元的收益，該計劃暫時降低了認股權證的行使價格並包括重新加載認股權證。

In addition, we have and will continue to utilize our ATM facility to fund our operations in the near term.

此外，我們已經並將繼續利用我們的 ATM 設施為我們的近期營運提供資金。

All of these steps have improved our liquidity, providing the necessary funding to execute our growth plan and strengthened our balance sheet.

所有這些步驟都改善了我們的流動性，為執行我們的成長計畫提供了必要的資金，並加強了我們的資產負債表。

I'd like to now turn the call back over to Tony for a few closing comments.

我現在想把電話轉回給托尼，請他發表幾句結束語。

Tony?

托尼？

Thanks, Kim.

謝謝，金。

We've made tremendous progress over the past few months, overcoming many of the challenges that we've faced during the past year, which have now positioned us to focus solely on our vision of driving growth through our compelling products and innovative strategies that provide our customers with the tools they need to better identify, deflect and eliminate any cyber threats they may encounter.

在過去的幾個月裡，我們取得了巨大的進步，克服了過去一年中面臨的許多挑戰，這使我們現在能夠專注於透過我們引人注目的產品和創新策略來推動成長的願景，這些挑戰提供了我們的客戶可以使用他們所需的工具來更好地識別、轉移和消除他們可能遇到的任何網路威脅。

I look forward to sharing the next steps in our journey with all of you.

我期待與大家分享我們旅程的下一步。

And I want to personally thank all of our investors and financial partners for their continued patience and support as we execute our strategy.

我想親自感謝我們所有的投資者和金融合作夥伴在我們執行策略時給予我們的持續耐心和支持。

Now, this concludes our prepared remarks, and I'll now turn the call over to the operator for Q&A.

現在，我們準備好的發言就到此結束，我現在將把電話轉給接線員進行問答。

(Operator Instructions) Scott Buck, H.C. Wainwright.

（操作員說明）Scott Buck，H.C.溫賴特。

Good afternoon, guys.

下午好，夥計們。

Thanks for taking my questions.

感謝您回答我的問題。

Tony, I was hoping you could help clear something up for me from the iOne resources agreement in the Philippines gets described as being potentially a million of ARR beginning in the second half of this year, but it's forcing your election rights?

東尼，我希望你能幫助我從菲律賓的 iOne 資源協議中澄清一些事情，該協議被描述為從今年下半年開始可能有 100 萬美元的 ARR，但這正在強迫你的選舉權？

So, what carries into 2025 that that makes it annual recurring revenue?

那麼，有什麼因素會影響 2025 年的年度經常性收入呢？

Yes, so the structure of the program and the bid that we were a part of has us stand up the equipment and have it all fully tested and ready to go by October.

是的，所以該計劃的結構和我們參與的投標讓我們能夠在 10 月之前對設備進行全面測試並準備就緒。

The elections don't actually occur until the spring of the following year.

選舉其實要到第二年春天才會發生。

And then following that, everything stands down, but a bunch of reconfiguration and testing and additional capabilities will get deployed because as threats continue to evolve over time.

接下來，一切都會停止，但將部署大量重新配置、測試和附加功能，因為威脅會隨著時間的推移而不斷演變。

So during that downtime, we'll be preparing and getting ready for the next set of elections, and then we'll stand up the gear again.

因此，在停工期間，我們將為下一組選舉做好準備，然後我們將再次做好準備。

So from an operations perspective, it has ebb and flow, but the work that we'll be doing with them will continue and in different waves over the period of time.

因此，從營運的角度來看，它有潮起潮落，但我們將與他們一起做的工作將繼續下去，並在一段時間內以不同的方式進行。

So, that's kind of the reason it looks to us like ARR it'll be our revenue will be smoothed over the life of the contract.

所以，這就是我們喜歡 ARR 的原因，因為我們的收入將在合約期限內變得平滑。

No, that makes sense.

不，這是有道理的。

And that's great to hear.

很高興聽到這個消息。

And second, I wanted to ask about the new logos this quarter and really the new logos last quarter.

其次，我想詢問本季的新商標以及上季的新商標。

Is there a particular size that you're seeing the most traction in?

您認為最受關注的特定尺寸是什麼？

And could you give us any kind of indication of what the average and either both duration, I guess of the contracts are and what the size is in terms of potential revenue?

您能給我們任何形式的指示，說明合約的平均期限和合約期限以及潛在收入的規模是多少嗎？

And there's no average at this point that makes any sense.

目前還沒有任何有意義的平均值。

So and there's a couple of reasons for Scott.

斯科特這麼做有幾個原因。

The probably the biggest reason is that by their very structure.

最大的原因可能是它們的結構本身。

Many of these start small and dumb might be a know and $100,000 or $200,000 or whatever, but then -- expand over some period of time.

其中許多都是從小而愚蠢開始的，可能是一個已知的、100,000 美元或 200,000 美元或其他什麼的，但隨後——在一段時間內擴大。

And so it's hard to create an average on and deals like that.

因此，很難創造出這樣的平均交易。

And I mentioned in the call, this is a pattern we're starting to see with some of the larger customers.

我在電話中提到，我們開始在一些大客戶中看到這種模式。

And so you'll see us announce these deals from time to time that might be pretty small initially, but then six months later or double, triple, quadruple in the initial the initial contract.

因此，您會看到我們不時宣布這些交易，這些交易最初可能很小，但六個月後或在初始合約中增加了一倍、三倍、四倍。

And then this second thing I'd say is we continue to win some deals that are relatively small in nature, meaning under $100,000, let's just say, for example.

我要說的第二件事是，我們繼續贏得一些規模相對​​較小的交易，例如，金額低於 10 萬美元。

But are in industries that we want to be present and serve as sort of a pivot points for us to demonstrate our value in those industry.

但在我們希望參與的行業中，並作為我們在這些行業中展示我們價值的支點。

So we're not turning any customers away at this particular point.

因此，我們不會在這個特定時刻拒絕任何客戶。

But just as an example, one of the managed service providers that we and signed last year now has expanded our presence into two more customers, and that's not a trivial for us.

但舉個例子，我們去年簽署的託管服務提供者之一現在已經將我們的業務擴展到另外兩個客戶，這對我們來說並不是一件小事。

It's a proof point that that customer meaning the managed service provider and their customers, some are excited about our technology.

這證明客戶指的是託管服務提供者及其客戶，其中一些對我們的技術感到興奮。

Got it.

知道了。

That's helpful.

這很有幫助。

And then last one for me, Tony, just the mechanics of new customer onboarding, you guys are reliant on them in terms of timing or are they reliant on you in terms of timing.

最後一個對我來說，東尼，只是新客戶入職的機制，你們在時間方面依賴他們，還是他們在時間方面依賴你。

Every deal is different at this point from the commission on elections, one has a fixed deadline.

此時，每項協議都與選舉委員會不同，都有固定的最後期限。

We've got to be up and running and we're working with those teams on the actual stand up plan.

我們必須啟動並運行，我們正在與這些團隊合作制定實際的站立計劃。

Some of the others that we have don't have a fixed date in time like the commission on elections one.

我們擁有的其他一些機構沒有固定的日期，例如選舉委員會。

But some, I think all of those other cases that I can think of it's a and a discussion that we have with the customer about what makes sense and I think as we've mentioned before, in some cases, we have to do site surveys with the customer, which involves, potentially a few weeks of work before we actually install.

但有些情況，我認為我能想到的所有其他情況都是我們與客戶就有意義的問題進行的討論，我認為正如我們之前提到的，在某些情況下，我們必須進行現場調查與客戶合作，這可能需要我們在實際安裝之前進行幾週的工作。

And the other thing that we're seeing in some cases is depending on the age and the nature of the network equipment that a customer might have in their environment, we may need to do some additional work with those customers either reconfigure their network slightly or, in some cases install our equipment in a different way then we initially anticipated.

在某些情況下，我們看到的另一件事是，取決於客戶環境中可能擁有的網路設備的壽命和性質，我們可能需要與這些客戶一起做一些額外的工作，要么稍微重新配置他們的網絡，要么，在某些情況下，我們的設備安裝方式與我們最初預期的方式不同。

So we've seen all those cases and we're fully prepared to deal with those as new customers come along.

因此，我們已經看到了所有這些案例，隨著新客戶的出現，我們已做好充分準備來處理這些案例。

But I appreciate the time, guys.

但我很珍惜這段時光，夥伴們。

Thank you very much.

非常感謝。

Thank you.

謝謝。

[Ed Woo], Ascendiant Capital.

[Ed Woo]，上升資本。

Congratulations on the Philippine iOne resource a deal.

恭喜菲律賓iOne資源成交。

My question is, should we expect more opportunities in Asia or just international in general with that Philippines deal?

我的問題是，我們應該期待透過菲律賓協議在亞洲獲得更多機會，還是在國際上獲得更多機會？

And I think you can anticipate more in Asia Pac as I think everybody realizes we've sort of underperformed in the US over the last year or so, but we now see some signs where we think we're going to correct that with some of the more recent wins and so on.

我認為你可以對亞太地區做出更多預期，因為我認為每個人都意識到我們在過去一年左右的時間裡在美國表現不佳，但我們現在看到了一些跡象，我們認為我們將通過一些措施來糾正這一問題。

So proportionately, I think we expect to have a little more balanced, some set of wins over time.

因此，按比例來說，我認為隨著時間的推移，我們預計會取得一些更平衡的勝利。

But in the short run, Asia-Pac is a great opportunity for us and one that we expect will be really good for the for the company.

但從短期來看，亞太地區對我們來說是一個很好的機會，我們預期這對公司來說確實是件好事。

And one of the interesting things there is it's a little easier for us to get attention in that region because the cybersecurity isn't being so over marketed in that region as it is here.

有趣的事情之一是，我們在該地區更容易引起注意，因為網路安全在該地區並沒有像在這裡那樣被過度行銷。

So it's a little easier for us to get attention.

所以我們更容易引起注意。

And word of mouth goes really well there.

那裡的口碑傳播得很好。

In the US, there's just a cap on any of cybersecurity companies.

在美國，任何網路安全公司都受到限制。

I was at RSA this last week and the noise level is just deafening.

上週我去了 RSA，那裡的噪音簡直是震耳欲聾。

It was like the decade is coming out of the ground that you're probably reading about in the newspaper in holiday, a deafening, a bunch of noise coming from our industry.

就像你可能在假期的報紙上讀到的那樣，十年即將從地下冒出來，來自我們行業的震耳欲聾的噪音。

So we'll take advantage of it wherever we can.

因此，我們將盡可能利用它。

Great.

偉大的。

Well, congratulations again, and I wish you guys good luck.

好吧，再次恭喜你們，祝你們好運。

Thank you.

謝謝。

Thanks, Ed.

謝謝，艾德。

Paul Rodriguez, WestPark Capital

保羅·羅德里格斯，WestPark Capital

Yes, thanks for your time.

是的，謝謝您的寶貴時間。

I had a question.

我有一個問題。

I wanted to ask you about your comments on federal.

我想問您對聯邦的看法。

I wanted to see what you've seen in terms of visibility improvements for the June quarter and federal and if you have any thoughts about that and then I have a follow-up.

我想看看您在六月季度和聯邦的可見性改善方面看到了什麼，如果您對此有任何想法，那麼我會進行後續跟進。

Yes.

是的。

So we are we have, as I think Kim mentioned, some already booked some contracts in federal that we expect will make up further for the gap that we had from a lost contract from last year.

因此，正如我認為 Kim 所提到的那樣，有些人已經在聯邦訂購了一些合同，我們預計這些合約將進一步彌補我們去年失去的合約所造成的缺口。

Then we're in process on some additional work that we haven't secured yet, but I would say overall, the opportunity looks pretty good for us for the rest of the year.

然後我們正在進行一些尚未完成的額外工作，但我想說，總的來說，在今年剩下的時間裡，這個機會對我們來說看起來相當不錯。

We're not giving up and down.

我們不會放棄。

I would expect and hope that we get some additional on top of what we've already, but we've already landed.

我期望並希望我們能在現有的基礎上獲得一些額外的成果，但我們已經實現了。

And the election year, as you can imagine, everybody's quite sensitive to problems that can be created by both criminals and political adversaries and all those kinds of things.

正如您可以想像的那樣，在選舉年，每個人都對犯罪分子和政治對手以及所有此類事物可能造成的問題非常敏感。

Nation states and our solutions are well suited to help address some of those kinds of challenges.

民族國家和我們的解決方案非常適合幫助解決其中一些挑戰。

So we expect to do really well for the rest of the year.

因此，我們預計今年剩餘時間會表現出色。

And we hope there's not another on continuing resolution at the beginning of the fiscal year this next year.

我們希望明年財年開始時不會再有關於繼續解決方案的問題。

Okay, helpful.

好的，有幫助。

One last question on the clever AI announcement.

關於聰明的人工智慧公告的最後一個問題。

Have you guys discussed any sort of roadmap on the endpoint and cloud products yet?

你們是否討論過任何有關端點和雲端產品的路線圖？

And yes, we have a multiyear road map actually for those.

是的，我們實際上有一個針對這些的多年路線圖。

And I expect that clever will play a pretty important role in our continuing advancement of those products.

我預計聰明將在我們不斷改進這些產品的過程中發揮非常重要的作用。

Okay, great.

好的，太好了。

Thanks.

謝謝。

Thanks for the update.

感謝您的更新。

I appreciate and thank you.

我很欣賞並感謝你們。

Thanks, Paul.

謝謝，保羅。

At this time, there are no other questions in queue.

此時，隊列中沒有其他問題。

I'll turn the call back over to our host, Mr. Tony Scott.

我會將電話轉回給我們的主持人托尼·斯科特先生。

Well, thank you, everyone.

嗯，謝謝大家。

Again, as I said earlier, I really appreciate the patience on.

正如我之前所說，我再次感謝您的耐心。

But I do want you to know that my enthusiasm for our future is, as I said earlier, greater than ever on.

但我確實想讓你們知道，正如我之前所說，我對我們未來的熱情比以往任何時候都更加強烈。

We've put a lot of hard work in over the last couple of years.

在過去的幾年裡，我們付出了很多努力。

I and the rest of the management team have had debt, our fair share of issues to deal with in addition to just running the company.

我和管理團隊的其他成員都背負著債務，除了經營公司之外，我們還有很多問題需要處理。

And we have a lot of that, I'll call it, nonproductive work behind us now.

現在我們身後有很多我稱之為非生產性的工作。

And we're fully focused now on just growing our business, increasing sales and we don't have the distraction of lawsuits and investigations and all of those other things to deal with and nor do I want any of those things back ever again.

我們現在完全專注於發展我們的業務，增加銷售額，我們不會因為訴訟和調查以及所有其他需要處理的事情而分心，我也不希望這些事情再次發生。

So we're fully focused.

所以我們完全專注。

We know what we've got to do, and we've got them a clear vision of our future, and we see some great signs that customers are ready to adopt our solutions.

我們知道我們必須做什麼，我們讓他們對我們的未來有了清晰的願景，我們看到了一些很好的跡象，表明客戶已準備好採用我們的解決方案。

So I am one of the things I've said to a number of people is that in addition to sales with some of these big contracts like the commission on elections and some of these other wins, some of our challenges are going to be now on the execution side, supply chain issues, making sure we can.

因此，我對很多人說過的一件事是，除了銷售一些大合約（例如選舉委員會）和其他一些勝利之外，我們現在面臨的一些挑戰將是執行方面，供應鏈問題，確保我們可以。

And I fully avail ourselves of some of these deals that we won.

我充分利用了我們贏得的一些交易。

I'm a pilot, I think, as many of and one of the truisms that I learned a long time ago is almost anybody can learn very quickly to take a plane off the landing.

我想，我是一名飛行員，因為我很久以前學到的許多不言而喻的道理是，幾乎任何人都可以很快學會如何讓飛機起飛。

The plane is the hard part and I've used this analogy before, but we've got a lot of plane landings to do in the next six months.

飛機是最困難的部分，我以前用過這個類比，但在接下來的六個月裡我們有很多飛機降落要做。

And I really look forward to it.

我真的很期待。

It's a good problem to have and I think our team is ready to take on the town.

這是一個很好的問題，我認為我們的團隊已經準備好迎接這個城鎮。

So I just wanted to say thanks to everyone and look forward to next quarter's call with lots of enthusiasm.

所以我只想向大家表示感謝，並滿懷熱情地期待下個季度的電話會議。

Thanks so much.

非常感謝。

Thank you.

謝謝。

This concludes today's conference call.

今天的電話會議到此結束。

You may disconnect your lines at this time.

此時您可以斷開線路。

Thank you for your participation.

感謝您的參與。