摩托羅拉 (MSI) 2022 Q2 法說會逐字稿

Good afternoon, and thank you for holding. Welcome to the Motorola Solutions Second Quarter 2022 Earnings Conference Call. Today's call is being recorded. (Operator Instructions) The presentation material and additional financial tables are posted on the Motorola Solutions Investor Relations website.

下午好，感謝您的支持。歡迎參加摩托羅拉系統 2022 年第二季度收益電話會議。今天的電話正在錄音。 （操作員說明）演示材料和其他財務表格發佈在摩托羅拉解決方案投資者關係網站上。

In addition, a webcast replay of this call will be available on our website within 2 hours after the conclusion of this call. The website address is www.motorolasolutions.com/investor. (Operator Instructions)

此外，本次電話會議結束後 2 小時內，我們的網站上將提供本次電話會議的網絡直播重播。網站地址是 www.motorolasolutions.com/investor。 （操作員說明）

I would now like to introduce Mr. Tim Yocum, Vice President of Investor Relations. Mr. Yocum, you may begin your conference.

我現在想介紹一下投資者關係副總裁 Tim Yocum 先生。 Yocum 先生，你可以開始你的會議了。

Good afternoon. Welcome to our 2022 second quarter earnings call. With me today are Greg Brown, Chairman and CEO; Jason Winkler, Executive Vice President and CFO; Jack Molloy, Executive Vice President and COO; and Mahesh Saptharishi, Executive Vice President and CTO. Greg and Jason will review our results along with commentary, and Jack and Mahesh will join for Q&A.

下午好。歡迎參加我們的 2022 年第二季度財報電話會議。今天和我在一起的是董事長兼首席執行官格雷格·布朗； Jason Winkler，執行副總裁兼首席財務官； Jack Molloy，執行副總裁兼首席運營官；和執行副總裁兼首席技術官 Mahesh Saptharishi。 Greg 和 Jason 將審查我們的結果並發表評論，Jack 和 Mahesh 將加入問答環節。

We posted an earnings presentation and news release at motorolasolutions.com/investor. These materials include GAAP to non-GAAP reconciliations for your reference. And during the call, we reference non-GAAP financial results, including those in our outlook, unless otherwise noted.

我們在 motorolasolutions.com/investor 上發布了收益報告和新聞稿。這些材料包括 GAAP 與非 GAAP 對賬，供您參考。在電話會議期間，除非另有說明，否則我們會參考非 GAAP 財務結果，包括我們展望中的財務結果。

A number of forward-looking statements will be made during this presentation and during the Q&A portion of the call. These statements are based on current expectations and assumptions that are subject to a variety of risks and uncertainties. Actual results could differ materially from these forward-looking statements. Information about factors that could cause such differences can be found in today's earnings news release and the comments made during this conference call in the Risk Factors section of our 2021 annual report on Form 10-K or any quarterly report on Form 10-K (sic) [10-Q] and in our other reports and filings with the SEC. We do not undertake any duty to update any forward-looking statements.

在本次演講和電話會議的問答部分中，將發表一些前瞻性陳述。這些陳述基於當前的預期和假設，這些預期和假設受到各種風險和不確定性的影響。實際結果可能與這些前瞻性陳述存在重大差異。有關可能導致此類差異的因素的信息，請參閱今天的收益新聞稿以及本次電話會議期間我們關於 10-K 表格的 2021 年年度報告或 10-K 表格的任何季度報告的風險因素部分的評論（原文如此） ) [10-Q] 以及我們提交給 SEC 的其他報告和文件。我們不承擔任何更新任何前瞻性陳述的義務。

I'll turn the call over to Greg.

我會把電話轉給格雷格。

Thank you, Tim. Good afternoon, and thanks for joining us today. I'm going to start off by sharing a few thoughts about the overall business before Jason takes us through the results and our outlook.

謝謝你，蒂姆。下午好，感謝您今天加入我們。在 Jason 帶領我們了解結果和展望之前，我將首先分享一些關於整體業務的想法。

First, Q2 was exceptional across the board with revenue and earnings per share both coming in above our expectations. In Software and Services, revenue was up 11%, highlighted by strong software growth. And in Products and SI, continued record demand across both land mobile radio and video, led to 7% revenue growth and 17% orders growth, driving increased backlog.

首先，第二季度整體表現出色，收入和每股收益均高於我們的預期。在軟件和服務方面，收入增長了 11%，這得益於強勁的軟件增長。在產品和 SI 方面，陸地移動無線電和視頻的需求持續創紀錄，導致收入增長 7%，訂單增長 17%，推動積壓訂單增加。

Additionally, we ended the quarter with record Q2 backlog of $13.4 billion, up 19% versus last year, inclusive of approximately $500 million of unfavorable currency impact. Second, our portfolio and go-to-market investments are continuing to drive meaningful growth across all 3 technologies. During the quarter, revenue was up 21% in both video and command Center Software, and we saw record Q2 orders in both of those technologies as well. And in LMR, demand is growing for our high Tier P25 APX NEXT device with customers embracing its unique ability to offer the must-have reliability of LMR while seamlessly leveraging broadband features such as remote programming, network extension and location services.

此外，我們在本季度末的第二季度積壓訂單達到創紀錄的 134 億美元，比去年增長 19%，其中包括約 5 億美元的不利貨幣影響。其次，我們的產品組合和上市投資正在繼續推動所有 3 種技術的有意義的增長。在本季度，視頻和指揮中心軟件的收入增長了 21%，我們也看到了這兩種技術的第二季度創紀錄的訂單。在 LMR 中，對我們的高級 P25 APX NEXT 設備的需求正在增長，客戶欣然接受其提供 LMR 必備可靠性的獨特能力，同時無縫利用遠程編程、網絡擴展和定位服務等寬帶功能。

And finally, based on our Q2 record ending backlog and continued strong operational execution, we're raising our full year guidance for both sales and earnings per share.

最後，基於我們第二季度創紀錄的結束積壓和持續強勁的運營執行，我們正在提高我們對銷售額和每股收益的全年指導。

At this point, I'll turn it over to Jason, who will take you through our results and outlook and then return for some final thoughts.

在這一點上，我將把它交給 Jason，他將帶您了解我們的結果和展望，然後返回一些最後的想法。

Thank you, Greg. Revenue for the quarter was up 9% and above our guidance with record second quarter revenue in both segments. We saw strong growth across all 3 technologies, led by over 20% growth in both Video and Command Center Software. In LMR, which grew 5%, we were able to secure more critical parts, particularly later in the quarter, which enabled us to ship more product.

謝謝你，格雷格。本季度收入增長 9%，高於我們的預期，兩個部門的第二季度收入均創歷史新高。我們看到所有 3 種技術的強勁增長，其中視頻和指揮中心軟件增長超過 20%。在增長 5% 的 LMR 中，我們能夠獲得更多關鍵部件，尤其是在本季度後期，這使我們能夠運送更多產品。

Acquisitions during the quarter added $34 million and FX headwinds were $44 million. GAAP operating earnings were $358 million, and operating margins were 16.7%. Non-GAAP operating earnings were $497 million, up $15 million or 3% from the year ago quarter, and non-GAAP operating margins were 23.2%, down from 24.4%. The decline in operating margins was due to the higher semiconductor costs we outlined on our prior calls related to acquiring critical supply in the secondary market, together with higher freight costs and higher operating expenses related to acquisitions, partially offset by higher sales.

本季度的收購增加了 3400 萬美元，外匯逆風為 4400 萬美元。 GAAP 營業收入為 3.58 億美元，營業利潤率為 16.7%。非美國通用會計準則營業收入為 4.97 億美元，比去年同期增加 1500 萬美元或 3%，非美國通用會計準則營業利潤率為 23.2%，低於 24.4%。營業利潤率下降的原因是我們在之前的電話會議中概述了與二級市場獲取關鍵供應相關的更高半導體成本，以及更高的運費成本和與收購相關的更高運營費用，部分被更高的銷售額所抵消。

GAAP earnings per share was $1.33 compared to $1.69 per share in the year ago quarter. The decrease was primarily due to a discrete tax benefit recognized in the prior year and higher direct material costs in the current year. Non-GAAP EPS was $2.07, flat versus last year. The higher sales and operating earnings generated in the current quarter were offset by the higher direct material costs I mentioned previously, along with higher operating expenses related to acquisitions.

GAAP 每股收益為 1.33 美元，而去年同期為每股 1.69 美元。減少的主要原因是去年確認的離散稅收優惠和本年度較高的直接材料成本。非公認會計原則每股收益為 2.07 美元，與去年持平。本季度產生的更高的銷售和營業收入被我之前提到的更高的直接材料成本以及與收購相關的更高的運營費用所抵消。

OpEx in Q2 was $502 million, up $25 million, primarily due to acquisitions.

第二季度的運營支出為 5.02 億美元，增加了 2500 萬美元，主要是由於收購。

Turning to cash flow. Q2 operating cash flow was $10 million compared with $388 million in the prior year, and free cash flow was a usage of $49 million compared to $326 million generated in the prior year. In Q2 and the first half of the year, our cash flow has been primarily impacted by 2 items: first, our planned investments in inventory to navigate the dynamic supply chain environment and position us to fulfill the record demand we're seeing in Video and LMR; second, higher employee incentive payments that were tied to 2021's performance and paid out this year.

轉向現金流。第二季度運營現金流為 1000 萬美元，上年為 3.88 億美元，自由現金流為 4900 萬美元，上年為 3.26 億美元。在第二季度和上半年，我們的現金流主要受到兩個方面的影響：首先，我們計劃的庫存投資以駕馭動態的供應鏈環境，並使我們能夠滿足我們在視頻和視頻中看到的創紀錄需求。 LMR;其次，與 2021 年的業績掛鉤並在今年支付的更高的員工獎勵金。

We expect our cash flow conversion to accelerate in the second half, driven by higher profitability and a reduction in our current inventory levels in addition to the normal seasonality of our cash conversion. Capital allocation for Q2 included $162 million in share repurchases, $132 million in cash dividends and $59 million of CapEx. Additionally, during the quarter, we closed the video acquisitions of Calipsa for $40 million and Videotec for $22 million. We also issued $600 million of long-term debt, used a portion of the proceeds to retire $275 million, resulting in approximately $320 million of incremental debt net of fees on our balance sheet.

我們預計我們的現金流轉換將在下半年加速，這得益於更高的盈利能力和我們當前庫存水平的降低以及我們現金轉換的正常季節性。第二季度的資本分配包括 1.62 億美元的股票回購、1.32 億美元的現金股息和 5900 萬美元的資本支出。此外，在本季度，我們以 4000 萬美元完成了對 Calipsa 和 Videotec 的 2200 萬美元的視頻收購。我們還發行了 6 億美元的長期債務，用部分收益償還了 2.75 億美元，在我們的資產負債表上產生了大約 3.2 億美元的增量債務（扣除費用）。

In the Products and SI segment, we continue to see strong demand across both LMR and video. Sales during the quarter were up 7% versus last year and orders were up 17%, including record Q2 orders for both LMR and video. Revenue from acquisitions for this segment in the quarter was $14 million and currency headwinds were $19 million. Operating earnings for Products and SI were $188 million or 14.6%, down from 16.2% of sales in the prior year, driven primarily by the higher material costs and higher freight costs previously mentioned, partially offset by higher sales.

在產品和 SI 領域，我們繼續看到 LMR 和視頻的強勁需求。該季度的銷售額與去年相比增長了 7%，訂單增長了 17%，其中包括創紀錄的第二季度 LMR 和視頻訂單。本季度該部門的收購收入為 1400 萬美元，貨幣逆風為 1900 萬美元。 Products 和 SI 的營業收入為 1.88 億美元或 14.6%，低於上一年銷售額的 16.2%，主要是由於前面提到的較高的材料成本和較高的運費成本，部分被較高的銷售額所抵消。

We continue to expect full year operating margins for this segment to be slightly higher than 2021 as the impact from pricing actions accelerates in the second half. Some notable Q2 wins and achievements in the segment include several large P25 orders in the U.S., including $32 million for a state of California agency, $27 million for Dutchess County, New York and $22 million order for the Georgia Department of Corrections. We also had a $26 million order for a P25 solution with LTE integration for an international customer, a $15 million TETRA order for a customer in Argentina. And finally, we received 2 large fixed video orders, a $9 million order for a customer in the health care vertical and an $8 million order for a large retail customer.

隨著下半年定價行動的影響加速，我們繼續預計該部門的全年營業利潤率將略高於 2021 年。該領域的一些顯著的第二季度勝利和成就包括美國的幾筆大型 P25 訂單，其中包括加利福尼亞州機構的 3200 萬美元、紐約達奇斯縣的 2700 萬美元和佐治亞州懲教署的 2200 萬美元訂單。我們還為一位國際客戶訂購了 2600 萬美元的帶有 LTE 集成的 P25 解決方案，為阿根廷的一位客戶訂購了 1500 萬美元的 TETRA 訂單。最後，我們收到了 2 個大型固定視頻訂單，900 萬美元的醫療保健垂直客戶訂單和 800 萬美元的大型零售客戶訂單。

In the Software and Services segment, revenue was up 11%, with revenue from acquisitions of $20 million and currency headwinds of $25 million during the quarter. Total software revenue was up 25%, driven by strong demand in video and a large deployment in Command Center Software, while in LMR services, revenue was up 5%. Operating earnings in the segment were $309 million or 36.1% of sales, down 110 basis points from last year, driven by a change in year-over-year mix and higher M&A expenses, partially offset by higher sales.

在軟件和服務部門，收入增長了 11%，本季度的收購收入為 2000 萬美元，貨幣逆風為 2500 萬美元。受視頻需求強勁和指揮中心軟件大規模部署的推動，軟件總收入增長了 25%，而 LMR 服務的收入增長了 5%。該部門的營業收入為 3.09 億美元，佔銷售額的 36.1%，比去年下降 110 個基點，原因是同比結構變化和併購費用增加，部分被銷售額增加所抵消。

We continue to expect segment operating margins for Software and Services for the full year to be comparable to last year, inclusive of the additional OpEx spend from our recent acquisitions. Some notable Q2 highlights in this segment include 2 large multiyear LMR service renewals, $43 million with the state of South Australia and $35 million with the state of Mississippi. We also had 3 large Command Center Softwares in the U.S. -- orders in the U.S., $35 million from a large metropolitan city, $14 million from the Los Angeles Police Department and $11 million from Frederick County, Maryland. We were also awarded an $8 million body-worn camera order from the Detroit Police Department.

我們繼續預計全年軟件和服務部門的營業利潤率與去年相當，包括我們最近收購的額外運營支出。該部分中一些值得注意的第二季度亮點包括 2 次大型多年 LMR 服務更新，南澳大利亞州的 4300 萬美元和密西西比州的 3500 萬美元。我們在美國還有 3 個大型指揮中心軟件——在美國的訂單，3500 萬美元來自大都市，1400 萬美元來自洛杉磯警察局，1100 萬美元來自馬里蘭州弗雷德里克縣。我們還獲得了底特律警察局 800 萬美元的隨身相機訂單。

Moving next to our regional results. North America Q2 revenue was $1.5 billion, up 13% on growth in all 3 technologies. International Q2 revenue was $656 million, flat versus last year, with growth in all 3 technologies, offset by unfavorable FX.

接下來是我們的區域結果。北美第二季度收入為 15 億美元，在所有 3 項技術的增長中增長了 13%。國際第二季度收入為 6.56 億美元，與去年持平，所有 3 項技術均實現增長，但被不利的外匯所抵消。

Moving to our backlog. Ending backlog was a record -- Q2 record of $13.4 billion, up 19% or $2.2 billion compared to last year, inclusive of approximately $500 million of unfavorable FX. The growth was driven by the Airwave extension recorded in the fourth quarter of '21 and increased demand across all 3 technologies. Sequentially, backlog was down $21 million, driven primarily by a $397 million movement in unfavorable FX and the quarterly revenue burn related to the Airwave and ESN contracts, partially offset by record Q2 orders in LMR products, video and Command Center Software.

轉到我們的積壓工作。結束積壓是創紀錄的——第二季度創紀錄的 134 億美元，比去年增長 19% 或 22 億美元，其中包括約 5 億美元的不利外匯。增長是由 21 年第四季度記錄的 Airwave 擴展和所有 3 種技術的需求增加推動的。隨後，積壓訂單減少了 2100 萬美元，主要是由於不利的外匯變動 3.97 億美元以及與 Airwave 和 ESN 合同相關的季度收入消耗，部分被 LMR 產品、視頻和指揮中心軟件創紀錄的第二季度訂單所抵消。

In the Products and SI segment, continued robust order demand in both LMR and Video is driving record backlog, which was up $986 million or 30% compared to last year. Sequentially, backlog was up $206 million, which was our eighth consecutive quarter of sequential backlog growth in the products segment. Additionally, our product backlog increasingly reflects new pricing, which we expect to contribute to the profitability ramp for the second half.

在產品和 SI 領域，LMR 和視頻的持續強勁訂單需求推動了創紀錄的積壓，與去年相比增加了 9.86 億美元或 30%。隨後，積壓訂單增加了 2.06 億美元，這是我們連續第八個季度在產品部門連續積壓訂單增長。此外，我們的產品積壓越來越多地反映了新的定價，我們預計這將有助於下半年的盈利能力提升。

In Software and Services, backlog was $1.2 billion compared to last year, driven also by the Airwave extension and a $380 million increase in multiyear services and software backlog in North America. Sequentially, backlog was down $227 million or 2%, driven primarily by unfavorable FX and revenue recognition for the Airwave and ESN contracts, partially offset by record second quarter orders in Command Center Software.

在軟件和服務方面，與去年相比，積壓了 12 億美元，這也受到 Airwave 擴展和北美多年服務和軟件積壓增加 3.8 億美元的推動。隨後，積壓訂單減少了 2.27 億美元或 2%，主要是由於不利的外彙和對 Airwave 和 ESN 合同的收入確認，部分被指揮中心軟件創紀錄的第二季度訂單所抵消。

Turning next to our outlook. We expect Q3 sales to be up approximately 10%, with non-GAAP earnings per share between $2.85 and $2.90 per share. This assumes approximately $60 million of FX headwinds, a weighted average share count of approximately 172 million shares and an effective tax rate of approximately 20%. And for the full year, we are increasing both our revenue and EPS guidance. We now expect revenue growth of approximately 8%, up from our prior guidance of 7%, and we expect non-GAAP earnings per share to be between $10.03 and $10.13 per share up from our prior guide of $9.80 to $9.95 per share. This updated guidance includes FX headwinds of approximately $170 million, a diluted share count of approximately 172 million shares and an effective tax rate of approximately 21% to 21.5%.

轉向我們的前景。我們預計第三季度銷售額將增長約 10%，非公認會計準則每股收益在 2.85 美元至 2.90 美元之間。這假設外匯逆風約為 6000 萬美元，加權平均股數約為 1.72 億股，有效稅率約為 20%。對於全年，我們正在增加我們的收入和每股收益指導。我們現在預計收入增長約 8%，高於我們之前 7% 的指引，我們預計非公認會計準則每股收益將在 10.03 美元至 10.13 美元之間，高於我們之前的指引 9.80 美元至 9.95 美元。更新後的指引包括約 1.7 億美元的外匯逆風、約 1.72 億股的稀釋股本和約 21% 至 21.5% 的有效稅率。

Before I turn the call back to Greg, I would like to highlight some of the priorities we are driving for the remainder of the year. First, we remain focused on supply chain execution, both tactically and strategically, including rapid redesigns by our engineering teams to substitute to available semiconductors, alternatives, strategic inventory investments that we are making, securing high-demand discrete semiconductors from brokers when necessary and entering into long-term supply agreements where possible.

在我將電話轉回格雷格之前，我想強調一下我們在今年剩餘時間裡推動的一些優先事項。首先，我們在戰術上和戰略上仍然專注於供應鏈執行，包括我們的工程團隊快速重新設計以替代可用的半導體、替代品、我們正在進行的戰略庫存投資，在必要時從經紀人那裡獲得高需求的分立半導體並進入在可能的情況下簽訂長期供應協議。

Second, our pricing actions across the portfolio have been effective to date, and we'll continue to look at pricing opportunities and maintain cost discipline as we manage through a higher cost environment. And finally, we are balancing the benefits of higher inventory with cash conversion, and we'll continue to optimize our working capital and balance sheet to drive increased cash flow in the second half.

其次，迄今為止，我們在整個投資組合中的定價行動都是有效的，我們將繼續尋找定價機會並保持成本紀律，因為我們在更高的成本環境中進行管理。最後，我們正在平衡更高庫存與現金轉換的好處，我們將繼續優化我們的營運資金和資產負債表，以推動下半年現金流的增加。

I'll now turn the call back over to Greg.

我現在將電話轉回給 Greg。

Jason, thanks. I'd like to end with a few thoughts as we conclude this call. First, I'm really pleased with what we accomplished during the quarter. We achieved Q2 record sales, including 21% growth in both video and Command Center Software. We strengthened our video portfolio with the acquisitions of Calipsa, which brings us advanced cloud native video analytics, and Videotec, which broadens our ruggedized camera portfolio to serve the critical infrastructure market.

傑森，謝謝。在我們結束這次電話會議時，我想以一些想法結束。首先，我對我們在本季度取得的成就感到非常滿意。我們實現了第二季度創紀錄的銷售額，包括視頻和指揮中心軟件的 21% 增長。我們通過收購 Calipsa 加強了我們的視頻產品組合，它為我們帶來了先進的雲原生視頻分析，以及 Videotec，它擴大了我們堅固耐用的相機產品組合，以服務於關鍵基礎設施市場。

We had record Q2 product orders at higher prices, including our single largest quarter ever for PCR orders, and we ended the quarter with record Q2 ending backlog. The pricing actions we've taken to offset higher input costs position us well for margin expansion for the back half of this year.

我們以更高的價格獲得了創紀錄的第二季度產品訂單，包括我們有史以來最大的單季度 PCR 訂單，並且我們以創紀錄的第二季度結束積壓結束了該季度。我們為抵消較高的投入成本而採取的定價措施使我們能夠很好地擴大今年下半年的利潤率。

Second, our investments in AI and cloud continue to drive robust software growth for the company. Customers like Greenville County schools in South Carolina depend on our video security and access control solution to help keep students safe. And the city of Houston is deploying more than 3,000 body-worn cameras with cloud-based evidence management to help provide greater accountability and transparency.

其次，我們在人工智能和雲計算方面的投資繼續推動公司強勁的軟件增長。南卡羅來納州格林維爾縣學校等客戶依靠我們的視頻安全和訪問控制解決方案來幫助確保學生的安全。休斯頓市正在部署 3,000 多台帶有基於雲的證據管理的隨身攝像頭，以幫助提高問責制和透明度。

And with the acquisitions such as AVA Security and Calipsa, we're well positioned to accelerate the deployment of cloud video software solutions with customers around the world. And finally, as we enter the second half of this year, I am very encouraged by our momentum. The multiyear funding environment for our customers continues to be as strong as it's ever been, our solutions for both public safety and enterprise security have never been more important. Our strong execution has allowed us to effectively navigate this dynamic environment.

通過諸如 AVA Security 和 Calipsa 的收購，我們處於有利位置，可以加速與全球客戶一起部署雲視頻軟件解決方案。最後，隨著我們進入今年下半年，我對我們的勢頭感到非常鼓舞。我們客戶的多年融資環境一如既往地強大，我們的公共安全和企業安全解決方案從未像現在這樣重要。我們強大的執行力使我們能夠有效地駕馭這種動態環境。

And finally, the resilience of our business, our durable cash flows and our strong balance sheet provide us with the flexibility to be opportunistic in our future deployment of capital.

最後，我們業務的彈性、持久的現金流和強大的資產負債表為我們提供了在未來資本配置中投機取巧的靈活性。

And now I'll turn the call back over to Tim and welcome your questions.

現在我將把電話轉回蒂姆，並歡迎您提出問題。

Thank you, Greg. (Operator Instructions) Operator, would you please remind our callers on the line how to ask the question.

謝謝你，格雷格。 （接線員說明）接線員，請您提醒我們的來電者如何提問。

(Operator Instructions) The first question comes from George Notter of Jefferies.

（操作員說明）第一個問題來自 Jefferies 的 George Notter。

Congratulations on the strong results and backlog. I guess I wanted to ask about a comment you made about the funding environment. What's your perspective now on state and local government budgets? Obviously, many of those budgets began on July 1. Many of those budgets were reset looking forward. Just be curious on what your perspective is on the funding environment and how you're seeing those budgets?

祝賀您取得了驕人的成績和積壓。我想我想問一下您對融資環境的評論。您現在對州和地方政府預算有何看法？顯然，其中許多預算是從 7 月 1 日開始的。其中許多預算是在未來重新設定的。只是好奇您對融資環境的看法以及您如何看待這些預算？

And then also related to that is a question of ARPA. I'm wondering if you're seeing ARPA money right now. I think last quarter, you told us you were seeing a 3x improvement in the sales funnel. What does that look like right now? Any more detail you can provide would be great?

與此相關的還有一個 ARPA 問題。我想知道你現在是否看到 ARPA 的錢。我想上個季度，你告訴我們你看到銷售漏斗改善了 3 倍。現在看起來像什麼？您可以提供更多詳細信息嗎？

Sure, George. So when you think about state and local budgets, I mean, I think, first of all, we hear us say it time and time again, what we do, what we provide is a need to have, not a nice to have. But as it relates to the inflationary environment we're dealing in, self-funding alone for states, they're in a very beneficial period of time. Because if you look at it, they derive their budgets from personal income tax, from sales tax and from corporate income tax, all of which stand the benefit to drive more money into their coffers and thereby, improve their general fund situation.

當然，喬治。因此，當您考慮州和地方預算時，我的意思是，我認為，首先，我們聽到我們一次又一次地說，我們所做的，我們提供的，是需要擁有的，而不是美好的擁有。但由於它與我們正在處理的通貨膨脹環境有關，單獨為各州提供資金，它們處於一個非常有利的時期。因為如果你看一下，他們的預算來自個人所得稅、銷售稅和企業所得稅，所有這些都有利於將更多的錢投入他們的金庫，從而改善他們的總體資金狀況。

So it's that piece of it. We also look at the second rail of this, and that's the monies that are being made available through ARPA. And I would just simply say that we've talked about it, it's generally beneficial, and we think it's a general tailwind. But the most important thing is it's not a 2022 phenomenon. It's one that's multiyear.

所以這就是它的一部分。我們還研究了第二條軌道，那就是通過 ARPA 提供的資金。我只想說我們已經討論過它，它通常是有益的，我們認為這是一個普遍的順風。但最重要的是，這不是 2022 年的現象。這是一個多年的。

And in fact, these won't expire until 2024, and all likelihood we know is those will likely be extended. So you've heard Greg said it. I think he said in the script, but we're in a really unique situation because we are in a good funding environment. But I think it also is timely because we're going through product refresh investments. We're seeing that here in the United States with the APX NEXT platform. And later this year, we're going to be announcing the mid-tier APX NEXT devices, which we're really excited about.

事實上，這些要到 2024 年才會到期，而且我們很可能知道這些可能會延長。所以你已經聽過格雷格說過了。我認為他在劇本中說過，但我們處於一個非常獨特的情況，因為我們處於良好的資金環境中。但我認為這也是及時的，因為我們正在進行產品更新投資。我們通過 APX NEXT 平台在美國看到了這一點。今年晚些時候，我們將發布中端 APX NEXT 設備，我們對此感到非常興奮。

The next question comes from Erik Lapinski of Morgan Stanley.

下一個問題來自摩根士丹利的 Erik Lapinski。

Congrats on the quarter. Maybe just following up on the comment you just made on kind of LMR and the APX NEXT. Can you give us any update on just with some of the P25 deals you're seeing? What the uptake is of APX NEXT and some of those upgrades? Is it skewing towards being most? Or I guess, just legs on that cycle and how we should think about that?

祝賀本季度。也許只是跟進您剛剛對 LMR 和 APX NEXT 發表的評論。您能否就您看到的一些 P25 交易向我們提供任何更新？ APX NEXT 和其中一些升級有哪些應用？它是否傾向於成為大多數人？或者我想，只是那個週期的腿，我們應該如何考慮？

Yes. So as I've said before, we're in the early innings of the P25 upgrade cycle. I used the baseball metaphor. And our -- I believe it was our February call in second inning, I think we're largely still in that period of time. But just a couple of updates, $190 million of orders. Interestingly, we're seeing a lot of interest from non-Motorola customers, and it's not only the better basics, the ergonomics and the audio performance of the APX NEXT, but it's really the Smart Connect.

是的。正如我之前所說，我們正處於 P25 升級週期的早期階段。我用了棒球的比喻。而且我們的 - 我相信這是我們二月份在第二局中的電話，我認為我們基本上還處於那個時期。但只是幾次更新，就獲得了 1.9 億美元的訂單。有趣的是，我們看到非摩托羅拉客戶對 APX NEXT 的基本性能、人體工程學和音頻性能表現出了濃厚的興趣，而且它確實是 Smart Connect。

And so what our customers saw during COVID, particularly people like health departments, was the capability to expand their coverage outside of the P25 networks. It's also things like smart mapping. We think about accountability, we think about officer and firefighter safety, location is paramount to that. And then we're also looking at messaging as we have more and more young officers in the field, they need ways, different modalities like text and video and the capability to share those. That type of data and they're using the LTE collaborative aspect of the APX NEXT.

因此，我們的客戶在 COVID 期間看到的，尤其是像衛生部門這樣的人，能夠將他們的覆蓋範圍擴大到 P25 網絡之外。它也是智能地圖之類的東西。我們考慮問責制，我們考慮官員和消防員的安全，位置是最重要的。然後我們也在關註消息傳遞，因為我們在該領域有越來越多的年輕軍官，他們需要方式、不同的方式，比如文本和視頻，以及分享這些的能力。這種類型的數據，他們正在使用 APX NEXT 的 LTE 協作方面。

So again, really excited. But I would note that we've -- the $190 million has all been targeted at the highest tier, which is the original APX NEXT with subsequent releases in the second half of this year with the mid-tier portfolio, which we're starting to engage in customer discussions on.

再說一次，真的很興奮。但我要指出的是，我們已經 - 1.9 億美元都針對最高層，即最初的 APX NEXT，以及今年下半年發布的中層產品組合，我們正在開始參與客戶討論。

And Erik, the $190 million of orders is since the APX NEXT product was introduced, but I'd also add that just, in general, Q2 was a record for P25 public safety devices, which is more broad than APX NEXT as well. So APX NEXT continues to fire away. And just to -- I think the team did a superb job in product introduction. Molloy's team has sold it, but also more broadly beyond APX NEXT, Q2 was a record for 25 public safety orders, which I'm quite happy about as well.

而 Erik，自推出 APX NEXT 產品以來，1.9 億美元的訂單，但我還要補充一點，總的來說，第二季度是 P25 公共安全設備的記錄，它也比 APX NEXT 更廣泛。所以 APX NEXT 繼續開火。只是——我認為團隊在產品介紹方面做得非常出色。 Molloy 的團隊已經賣出了它，但在 APX NEXT 之外的更廣泛的範圍內，Q2 創下了 25 個公共安全訂單的記錄，我對此也感到非常高興。

Awesome. If I could sneak in another one just on Command Center Software. You had a few larger deals there to this quarter. Just in terms of progress and maybe uptake of some of the cloud-based offerings you have there, were any of those upgrades more on cloud-based? And then did any maybe expand beyond the PSAP presence you have into other capabilities?

驚人的。如果我可以在 Command Center Software 上偷偷溜進去。到本季度為止，您在那裡進行了一些較大的交易。僅就進展而言，也許是對您那裡的一些基於雲的產品的採用，這些升級中是否有更多基於雲的升級？然後是否有任何可能超出您擁有的 PSAP 存在擴展到其他功能？

Yes. So maybe just a quick overview. Jason mentioned 2 specific deals, LVMPD, Frederick County. If you look at both of those, LVMPD was on-premises records deal, but really a hybrid element to it, and that was the CommandCentral Responder piece, which is really driven by mobile access to records information. We're seeing more and more of that, and that hybrid element was key to that particular deal.

是的。所以也許只是一個快速的概述。 Jason 提到了 2 個具體的交易，LVMPD，弗雷德里克縣。如果你看這兩個，LVMPD 是本地記錄交易，但實際上是一個混合元素，那就是 CommandCentral Responder 部分，它實際上是由移動訪問記錄信息驅動的。我們看到的越來越多，而這種混合元素是該特定交易的關鍵。

With Frederick, we added CommandCentral Aware in addition to PremierOne CAD. Aware is a cloud hosted a SaaS solution for us. And Aware gives the county a single plane of glass to understand where unit locations are, both from radios and also from incident information. It is as Jack said previously location information being paramount -- accurate location information being paramount in that case. We continue to invest in our hybrid strategy. We're executing on our hybrid strategy.

除了 PremierOne CAD，我們還通過 Frederick 添加了 CommandCentral Aware。 Aware 是一個為我們託管 SaaS 解決方案的雲。 Aware 為該縣提供了一個單一的玻璃平面，可以通過無線電和事件信息了解單位位置的位置。正如傑克之前所說，位置信息是最重要的——在這種情況下，準確的位置信息是最重要的。我們繼續投資於我們的混合戰略。我們正在執行我們的混合戰略。

And a key point there is that our SaaS growth rate is actually faster than the overall Command Center Software growth rate, which itself was quite strong in this quarter. And the last thing that I'll say is we're continuing to innovate and invest in innovations. And we had 2 significant firsts this quarter. One is, we introduced the world's first public safety Carplay application, one that we developed with Western Australia Police and with Apple. And the second is along with Prince Georges County in Maryland, we won the Thomas O'Reilly Innovation Award for being the first in the country to introduce location-based routing -- NENA i3 compliant location-based routing. So together, I think we are executing well on our hybrid strategy.

一個關鍵點是，我們的 SaaS 增長率實際上快於整體指揮中心軟件的增長率，後者在本季度本身就相當強勁。我要說的最後一件事是我們將繼續創新並投資於創新。本季度我們取得了 2 個重要的第一。一個是，我們推出了世界上第一個公共安全 Carplay 應用程序，這是我們與西澳大利亞警方和蘋果公司共同開發的。第二個是與馬里蘭州的喬治王子縣一起，我們贏得了 Thomas O'Reilly 創新獎，因為我們是該國第一個引入基於位置的路由——符合 NENA i3 的基於位置的路由。因此，我認為我們在混合戰略上執行得很好。

The next question comes from Adam Tindle of Raymond James.

下一個問題來自 Raymond James 的 Adam Tindle。

I just wanted to ask about them between calls, so hopefully it hasn't been asked. But Greg, could you maybe give us any updates on ESN and Airwave? In particular, if you could review any financial implications? I think there's significant differences in the different outcomes and probabilities based on what happens and just that might make sense to level set with investors?

我只是想在通話之間詢問他們，所以希望沒有被問到。但是 Greg，您能否給我們提供有關 ESN 和 Airwave 的任何更新？特別是，您是否可以審查任何財務影響？我認為根據發生的情況，不同的結果和概率存在顯著差異，而這可能對投資者的水平設定有意義？

Yes. I think things remain engaged and in progress, Adam, really. We are in close contact with the customer, in this case, the U.K. home office. We've maintained very close contact with the CMA and have regularly provided them with information over the last several weeks and months as we educate them on our role in both Airwave and ESN. As you've seen, the time line has been updated by the CMA panel, and they now expect a provisional decision in September with a final decision in December. And there's really not much more I can add at this point because I just don't know. I think it will play out in the back half of the year, but I think the engagement has been quite strong. And in the meantime, we continue to invest both in Airwave actively and providing that mission-critical service as well as ESN.

是的。我認為事情仍在進行中，亞當，真的。我們與客戶保持密切聯繫，在這種情況下是英國的家庭辦公室。我們與 CMA 保持著非常密切的聯繫，並在過去幾周和幾個月內定期向他們提供信息，因為我們向他們介紹了我們在 Airwave 和 ESN 中的角色。如您所見，CMA 小組已經更新了時間線，他們現在預計 9 月會做出臨時決定，12 月會做出最終決定。在這一點上我真的沒有什麼可以補充的了，因為我只是不知道。我認為這將在今年下半年發揮作用，但我認為參與度相當高。與此同時，我們繼續積極投資 Airwave 並提供關鍵任務服務以及 ESN。

Got it. And maybe just as a follow-up. It looked like at a glance backlog trends remain very, very healthy. What does this say about elasticity in core products? I know you've been implementing some price increases understandably as your costs have increased. If you can maybe recap some of the price increases and talk about the elasticity that you're seeing given backlog trends, that would be helpful?

知道了。也許只是作為後續行動。乍一看，積壓的趨勢看起來仍然非常非常健康。這對核心產品的彈性有何影響？我知道隨著成本的增加，您一直在實施一些價格上漲，這是可以理解的。如果您可以回顧一些價格上漲並談論您在積壓趨勢下看到的彈性，那會有所幫助嗎？

Sure. So when I think about the first half growth for the company, which is about 8%, the price contributions on the actions that Jack's sales team have implemented was less than half of the contributor to growth. And with the actions that Jack can describe, we will continue to do, we think it will be even more of an opportunity in the second half as most of the orders that come to us in the second half were not -- from a more recent backlog as opposed to aged pricing.

當然。因此，當我考慮公司上半年的增長（大約 8%）時，傑克的銷售團隊實施的行動對價格的貢獻還不到增長貢獻的一半。以傑克可以描述的行動，我們將繼續這樣做，我們認為這將在下半年更有機會，因為下半年接到我們的大多數訂單都沒有——來自最近的一次積壓而不是過時的定價。

No, I think you're right. And the other piece of that is just -- it's one thing to raise the price. And I think one of the things that our team has done a really nice job at is actually discount management. And so an example, we've raised prices in all 3 sleeves, all 3 technology groups, but also we've ushered in price increases in our services business as well. And we're seeing net retention increases there as well. So we're really proud and pleased with the services team on that aspect as well.

不，我認為你是對的。另一部分就是——提高價格是一回事。我認為我們團隊做得非常好的一件事實際上是折扣管理。舉個例子，我們提高了所有 3 個袖子、所有 3 個技術組的價格，但我們也迎來了服務業務的價格上漲。我們也看到那裡的淨留存率也在增加。因此，我們對這方面的服務團隊也感到非常自豪和滿意。

The next question comes from Keith Housum of Northcoast Research.

下一個問題來自 Northcoast Research 的 Keith Housum。

Congratulations on a great quarter. I guess I just want to follow up on the supply chain. Much has been talked about the semiconductors and the $120 million will be spent through the end of the year. But can you talk about are there any other issues that have kind of popped up? Or are you guys looking to enter into 2023 is like a clean slate as you sit now?

祝賀一個偉大的季度。我想我只是想跟進供應鏈。關於半導體的討論很多，這 1.2 億美元將花到今年年底。但是你能談談是否還有其他問題出現了？或者你們現在是否希望進入 2023 年就像是一張白紙？

Keith, $120 million you mentioned, which was our year-over-year expected increase largely for finding the semiconductor supply. We remain on target for that. It was a little higher than $100 million in the first half and might be a little higher than the $20 million in the second half. But as you know, with our increased guide, that's supporting a higher volume. So we're pleased with the allocation of that budget, if you will, to find semiconductors, which sometimes come into premium, I should note that that's not our primary method.

基思，你提到的 1.2 億美元，這是我們預計的同比增長，主要是為了尋找半導體供應。我們仍然在這個目標上。上半年略高於1億美元，下半年可能略高於2000萬美元。但如您所知，隨著我們增加的指南，這支持更高的音量。因此，如果您願意的話，我們很高興分配預算來尋找有時會溢價的半導體，我應該指出，這不是我們的主要方法。

Our primary method is the rapid redesigns that our engineering teams are doing, and they're finding available alternatives if the part is constrained. And they're doing an amazing job there. We'll continue to look at that inventory investments and long-term supply agreements. So generally, it remains -- semiconductor is our largest-gated item, particularly in LMR.

我們的主要方法是我們的工程團隊正在進行的快速重新設計，如果零件受到限制，他們正在尋找可用的替代方案。他們在那裡做得非常出色。我們將繼續關注庫存投資和長期供應協議。所以總的來說，它仍然存在——半導體是我們最大的門控項目，特別是在 LMR 中。

Great. Appreciate it. This is a follow-up. In terms of the backlog, backlog has been record numbers for a while now, and this is impressive growth. But are we looking at an apples-to-apples comparison? Or is the backlog getting older in terms of the contracts that you're entering into are getting longer? Is there an apple-to-apples comparison we need to go through?

偉大的。欣賞它。這是一個後續行動。就積壓而言，積壓已經有一段時間了，這是一個令人印象深刻的增長。但我們是否在看蘋果對蘋果的比較？還是就您簽訂的合同而言，積壓的訂單越來越長？我們需要進行蘋果與蘋果之間的比較嗎？

The duration of the backlog, if that's what you're getting at, Keith, is largely consistent with where we've been over time. if anything, the products backlog, which we continue to print sequential increases in, tends to be, as you know, a more quicker turning than the associated software and services. So we're pleased with the backlog growth in both segments. And it continues -- product's backlog increases continues even with some price increases that customers are accepting and value our products.

積壓的持續時間，如果這就是你所得到的，Keith，基本上與我們一直以來的情況一致。如果有的話，我們繼續打印連續增加的產品積壓，如您所知，往往比相關的軟件和服務更快。因此，我們對這兩個領域的積壓增長感到滿意。它還在繼續——即使客戶接受並重視我們的產品的價格有所上漲，產品的積壓仍在繼續增加。

Next question comes from Fahad Najam of Loop Capital.

下一個問題來自 Loop Capital 的 Fahad Najam。

Greg, in the 8 years that I've been listening to you on the earnings call, I think I was -- I feel like you sounded the most confident and positive that I've ever heard us. So am I correct in my understanding? And if it is, can you just walk me through what is driving your confidence and your positive look in terms of your top drivers?

格雷格，在我在財報電話會議上聽你的 8 年裡，我想我是 - 我覺得你聽起來是我聽過的最自信和最積極的人。那麼我的理解正確嗎？如果是的話，你能告訴我是什麼在推動你的信心和你對頂級車手的積極態度嗎？

Yes, Fahad, thanks for the question. I'm smiling because -- and we were talking about it, we have been talking about it. The fact of the matter is this is as good in an environment as I've seen. And I don't mean that just externally, as Jack and Jason have talked about multiyear funding here, particularly in North America, for state and local customers and at the federal level, but it's the position of the firm overall.

是的，法赫德，謝謝你的提問。我微笑是因為——我們一直在談論它，我們一直在談論它。事實是，這在我所見過的環境中是一樣好的。我並不是說只是在外部，正如傑克和傑森在這裡談到的多年資助，特別是在北美，為州和地方客戶以及聯邦一級提供資金，但這是公司整體的立場。

Demand is extremely high for public safety and enterprise security. We also see, at the same time, concerns, which I think are legitimate around deploying Chinese equipment in critical infrastructure or highly confidential or secure areas. Backlog is at record levels. Product backlog, as we talked about in Q2. Orders were 17% against the revenue print of 7%. So we're building it.

對公共安全和企業安全的需求極高。與此同時，我們也看到了一些擔憂，我認為在關鍵基礎設施或高度機密或安全區域部署中國設備是合理的。積壓是創紀錄的水平。正如我們在第二季度所討論的那樣，產品積壓。訂單為 17%，而收入為 7%。所以我們正在建造它。

Jason just mentioned that the backlog comparison is largely apples-to-apples. We're performing and raising the full year from approximately 7% to 8% against continued FX headwinds. We're managing difficult semiconductor supply chain environment. And while it's very modestly better, I think the tip of the hat goes to the supply chain, financial and operational teams here at Motorola that are learning to do product redesign and manage inventory in a way that's constructive and productive to meet demand.

Jason 剛剛提到積壓的比較主要是蘋果對蘋果。面對持續的外匯逆風，我們將全年業績從大約 7% 提高到 8%。我們正在管理困難的半導體供應鏈環境。雖然它稍微好一點，但我認為摩托羅拉的供應鏈、財務和運營團隊正在學習以建設性和高效的方式進行產品重新設計和管理庫存，以滿足需求。

I love the deployment of capital that we've done. Organically, where Jack and Mahesh continue to emphasize innovation and move things to the cloud and do product refresh on devices. We've made, I think, pretty thoughtful and accretive and strategically important acquisitions, and our addressable market continues to grow as well. So when I look at execution, when I look at demand, when I look at R&D, when I look at innovation, when I look at multiyear funding, when I look at the overall factors that I think contribute enable and facilitate demand for our product, it's quite strong.

我喜歡我們所做的資本部署。有機地，Jack 和 Mahesh 繼續強調創新並將事物轉移到雲端並在設備上進行產品更新。我認為，我們已經進行了非常周到、具有增值性和戰略意義的收購，我們的潛在市場也在繼續增長。因此，當我關注執行、需求、研發、創新、多年期資金、我認為促成並促進對我們產品的需求的總體因素時，相當強。

And as a final note, the ability for us to demonstrate multiple price increases and still grow backlog and still drive robust revenue growth speaks to the criticality of what we do and the ability for our customers to absorb that and our ability to pass on higher input costs. So it is a very good environment. It's why we beat both top and bottom in Q2, why we're raising the full year and why I feel very good about the momentum in the back half.

最後一點，我們能夠展示多次價格上漲並仍然增加積壓並仍然推動強勁的收入增長，這說明了我們所做工作的重要性以及我們的客戶吸收這一點的能力以及我們傳遞更高投入的能力費用。所以這是一個非常好的環境。這就是為什麼我們在第二季度擊敗了頂部和底部，為什麼我們要提高全年以及為什麼我對後半段的勢頭感覺非常好。

That's really insightful. So how does that translate into your model? Because last time when you gave up your long-term model, it was 9%, 10%. Clearly, you're exceeding that now. So what are you thinking about your new model?

這真是有見地。那麼這如何轉化為您的模型呢？因為上次你放棄你的長期模型時，是 9%、10%。顯然，你現在已經超過了。那麼你對你的新模型有什麼看法？

No, I -- we were talking about that. I gave 9% and 10% in 2021, obviously, because I believed in it, we had COVID. COVID delayed things for a year, but here we are. We're not going to talk about any long-term model, Fahad, at this point, but we still believe that the product segment will grow mid-single digits, although our increase for the year from 7% to 8% is largely LMR and video. So actually, that increase from a segment standpoint is primarily in the product.

不，我——我們在談論那個。顯然，我在 2021 年給了 9% 和 10%，因為我相信它，我們有 COVID。 COVID將事情推遲了一年，但我們到了。在這一點上，我們不打算談論任何長期模型，Fahad，但我們仍然相信產品部分將增長中個位數，儘管我們今年從 7% 到 8% 的增長主要是 LMR和視頻。所以實際上，從細分市場的角度來看，這種增長主要是在產品中。

So it's maybe mid-single digits, nudging slightly higher. We still believe Software and Services will be approximately 10%. We agree with the -- we still are maintaining the guidance on the 3 technologies: LMR, mid-single digits; video security, approximately 20%; Command Center Software, low double digits as we continue to contribute to backlog and we like the momentum in the back half, I think it positions us well as we head into 2023. As we print more of the year and get more execution behind us, we'll update you accordingly on future thoughts for 2023 and beyond.

所以它可能是中個位數，略高一點。我們仍然相信軟件和服務將佔大約 10%。我們同意——我們仍然維持對 3 種技術的指導：LMR，中個位數；視頻安全，大約 20%；指揮中心軟件，低兩位數，因為我們繼續為積壓做出貢獻，我們喜歡後半部分的勢頭，我認為它使我們在進入 2023 年時處於有利地位。隨著我們在一年中打印更多時間並獲得更多執行，我們將相應地更新您對 2023 年及以後的未來想法。

The next question comes from Sami Badri from Credit Suisse.

下一個問題來自瑞士信貸的 Sami Badri。

First, congrats on the quarter. I'm not sure many people are actually expecting an increase on the top line. But presenting the question that I had for you guys is, I wanted to know within products and systems integration. If we were just to look at radios and radio handsets, have you been prioritizing LMR public safety over PCR? Have you managed to ship and prioritize both essentially at the same level, right? Trying to get an idea on just mix. And then maybe just a clarification. Did you say that PCR is growing mid-single digits to slightly better in 2022? Or if you didn't actually clarify that, maybe you could just clarify it now?

首先，祝賀本季度。我不確定很多人是否真的期望收入增加。但是提出我對你們提出的問題是，我想了解產品和系統集成。如果我們只看收音機和無線電手持設備，您是否將 LMR 公共安全置於 PCR 之上？您是否設法將兩者基本上放在同一級別上，對嗎？試圖得到一個關於只是混合的想法。然後也許只是一個澄清。您是說 PCR 在 2022 年正在增長中個位數到略好一點嗎？或者，如果您實際上沒有澄清這一點，也許您現在可以澄清一下？

Yes, Sami, I'll take the second one first. The product segment color is to continue to grow Product and SI at mid-single digit, maybe a little bit higher than that because the flow-through is in that segment. For PCR, last quarter, we said it would grow mid-single digit. We now expect it to grow at 10% or even slightly higher for the full year, given the strong performance in Q2 that will flow through in the back half.

是的，薩米，我先拿第二個。產品段顏色將繼續以中個位數增長 Product 和 SI，可能會比這高一點，因為流通量在該段中。對於 PCR，上個季度，我們說它將增長中個位數。鑑於後半季度的強勁表現，我們現在預計全年將增長 10% 甚至略高。

And Sami, to answer your question on prioritization and balance, we continue to be focused on public safety. Q1, we have prioritized public safety. In Q2, with some of the breakthroughs the team was able to make around supply, we were able to fulfill more demand for PCR in Q2 and grew at double digits. So in Q2, given the supply environment, we were able to fulfill both public safety and PCR.

薩米，為了回答你關於優先級和平衡的問題，我們將繼續關注公共安全。 Q1，我們優先考慮公共安全。在第二季度，由於團隊能夠在供應方面取得一些突破，我們能夠在第二季度滿足更多對 PCR 的需求，並實現了兩位數的增長。所以在第二季度，鑑於供應環境，我們能夠同時實現公共安全和 PCR。

Got it. And then I was hoping we could hear from Jack a little bit on body-worn camera and dash cam regarding license plate reading and some of the other kind of features that you guys have released. Can you give us an update on market share momentum? What's really going on from that side?

知道了。然後我希望我們能從 Jack 那裡聽到一些關於隨身攝像頭和行車記錄儀的關於車牌讀取和你們發布的其他一些功能的信息。您能給我們介紹一下市場份額動能的最新情況嗎？從那一側到底發生了什麼？

Sure, Sami. So as it relates to Q2, our orders were up 13%. I think when you can textualize that over the fact that 13% over the previous quarter, that was up 80%, 8-0 percent, the previous year. We think we had a relatively strong order. You heard Jason reference the Detroit PD win. And I think that's a test point to what we've been saying is that the market wants an alternative.

當然，薩米。因此，與第二季度有關，我們的訂單增長了 13%。我認為，當您可以將這一事實文本化時，即比上一季度增長 13%，即比上一年增長 80%、8-0%。我們認為我們的訂單相對強勁。你聽說傑森提到了底特律警察局的勝利。我認為這是一個測試點，我們一直在說市場想要一個替代方案。

I think the other piece of it is we're starting to see, late last year, we came out with as a service offer, and we're seeing an acceleration in our customers wanting to choose cloud. We've said before and I said at the end of 2021, we doubled our orders. We knew the market didn't grow that fast. We knew we took share in 2021.

我認為另一部分是我們開始看到，去年年底，我們推出了服務產品，我們看到希望選擇雲的客戶加速。我們之前說過，我說過在 2021 年底，我們的訂單增加了一倍。我們知道市場並沒有那麼快增長。我們知道我們在 2021 年取得了份額。

I'd simply say for the first half of this year, given our performance kind of in the mid-teens growth over 68% and 80% orders growth comps, we think we're performing relatively well. And as I said, we think we're a very viable alternative in the marketplace right now.

我只想說今年上半年，鑑於我們在 10 歲左右的業績增長超過 68% 和 80% 的訂單增長，我們認為我們的表現相對較好。正如我所說，我們認為我們現在是市場上非常可行的選擇。

I have 1 quick one for Jason. Sorry, go ahead.

我有 1 個快速給 Jason。對不起，繼續。

Just on the technology investments side that you also asked about, we continue to invest in a closer integration between our body-warn cameras and our radios as well, specifically with APX and APX NEXT devices. So for example, if you press the emergency button on an APX or an APX NEXT radio, it turns on recording as an option as well. And there are more features there to come as well.

就您還詢問的技術投資方面而言，我們繼續投資於我們的身體警告攝像頭和我們的收音機之間的更緊密集成，特別是與 APX 和 APX NEXT 設備。因此，例如，如果您按下 APX 或 APX NEXT 收音機上的緊急按鈕，它也會打開錄製選項。而且還有更多功能。

This quarter, we also released live streaming capability going from the V300s and our in-car video solution to Aware. And Aware also integrates real-time location information from our APX and APX NEXT radios. So location information coming from both body-worn cameras and our radios together gives accurate information, again, location being a key necessity for our customers.

本季度，我們還發布了從 V300 和我們的車載視頻解決方案到 Aware 的直播功能。 Aware 還集成了來自我們 APX 和 APX NEXT 無線電的實時位置信息。因此，來自隨身攝像頭和我們的收音機的位置信息一起提供了準確的信息，再次，位置對於我們的客戶來說是一個關鍵的必要條件。

And lastly, we also introduced new advanced AI-driven reduction capability to CommandCentral evidence, which is a key capability that our customers have been asking for. And I think we're very proud of what we were able to put in.

最後，我們還向 CommandCentral 證據引入了新的高級 AI 驅動的縮減功能，這是我們的客戶一直要求的一項關鍵功能。我認為我們為我們能夠投入的東西感到非常自豪。

Q2 also was our first shipping quarter for our M500 solution. The M500 started shipping in February of this year. We have seen great growth in the M500.

第二季度也是我們 M500 解決方案的第一個出貨季度。 M500 於今年 2 月開始出貨。我們已經看到 M500 的巨大增長。

And just as a reminder, we released the M500 with 2 key AI capabilities, ALPR being one of them, and backseat passenger analytics being the second. This is a true AI platform, the M500 is, and we're going to be introducing more capabilities we have firmware upgrade into that platform as well. We think there's great potential there.

提醒一下，我們發布了具有 2 個關鍵 AI 功能的 M500，ALPR 是其中之一，後座乘客分析是第二個。這是一個真正的 AI 平台，M500 是，我們將引入更多功能，我們也將固件升級到該平台。我們認為那裡有很大的潛力。

Jason, one quick one on your FX guidance -- your FX headwind guidance for the year. Is that including international currencies improve relative to the U.S. dollar? Or does that assume everything equal from this point forward on FX rates?

傑森，關於你的外匯指導的一個簡短的 - 你今年的外匯逆風指導。包括國際貨幣在內，是否相對於美元有所改善？還是假設從現在開始，外匯匯率一切都一樣？

Current spot rates going forward relative to last year. So the $170 million of headwinds on the year is about consistent with where it was the last quarter we were together. It's certainly been volatile. But today, it's at approximately $170 million of top line degradation related to FX this year.

相對於去年，當前的即期匯率向前發展。因此，今年 1.7 億美元的逆風與我們在一起的最後一個季度的情況大致一致。它肯定是不穩定的。但今天，今年與外匯相關的收入下降約為 1.7 億美元。

Next question comes from Paul Silverstein of Cowen.

下一個問題來自 Cowen 的 Paul Silverstein。

One clarification. What was the level of PCR in the quarter? And can you remind us -- I think it peaked out at $1 billion before the pandemic hit. But can you remind us of where you're at in the recovery of that business?

一澄清。本季度的 PCR 水平是多少？您能否提醒我們——我認為在大流行爆發之前達到了 10 億美元的峰值。但是您能提醒我們您在恢復該業務方面的情況嗎？

For Q2, Paul, PCR revenue growth was 15%.

對於第二季度，保羅，PCR 收入增長了 15%。

And it's base last year, Paul, was $800-and-something million. And so it's on -- as we told you earlier, 10%, maybe slightly higher this year, which will put it still short of the 2019 reference point you just made.

保羅去年的基數是 800 多萬美元。所以它開始了——正如我們之前告訴你的那樣，10%，今年可能會略高，這仍然低於你剛剛提出的 2019 年參考點。

All right. So the real question is -- I'm sorry, go ahead.

好的。所以真正的問題是——對不起，請繼續。

Paul, I was just going to add one other point is that Q2 was a record orders quarter for PCR as well.

保羅，我只想補充一點，第二季度也是 PCR 創紀錄的訂單季度。

Exactly.

確切地。

Okay. And notwithstanding the macro, obviously, it sounds like the business has been given all the different variables that seem to be so positive, where is the greatest opportunity for greatest improvement from here going forward over the next 12 to 36 months? And in connection with that, I saw was not able to pay you cash in respect of the litigation. Where does that -- are they being effectively shut out of the market? Where does that go from here? And finally, where is video penetration and in the public sector?

好的。儘管存在宏觀，但顯然，聽起來業務已經被賦予了似乎如此積極的所有不同變量，那麼在接下來的 12 到 36 個月內，從這裡取得最大改進的最大機會在哪裡？與此相關的是，我看到無法就訴訟向您支付現金。這在哪裡 - 他們是否被有效地排除在市場之外？從這裡開始？最後，視頻滲透率在哪里以及在公共部門中？

Well, let's start with Hytera. I'm kind of not surprised that they missed the deadline, the court order deadline to pay cash into escrow by July 31. They've had a pattern of denied, deflect, distract and no action. They owe us about $680 million all in. By the way, the guidance and color we give you on the full year of 2022 and cash and cash flow assume nothing from Hytera.

好吧，讓我們從海能達開始。他們錯過了截止日期，即法院命令在 7 月 31 日之前將現金存入託管賬戶的最後期限，我對此並不感到驚訝。他們的模式是拒絕、轉移、分散注意力和不採取任何行動。他們欠我們大約 6.8 億美元。順便說一下，我們為您提供的 2022 年全年指導和顏色以及現金流和現金流與海能達無關。

We filed a motion this morning that they are in contempt of court. And we'll see what the judge rules and remedies -- further remedies that they apply, but I can't say I'm particularly surprised.

我們今天早上提出了他們藐視法庭的動議。我們將看到法官的規則和補救措施——他們適用的進一步補救措施，但我不能說我特別驚訝。

Paul, I think you had a question as well on video, and I would just simply say that, our video and access control business is growing approximately 20% this year in 2022. We continue to invest in the portfolio extensively, both by way of our edge devices or camera. But also in the -- on our software and analytics side of the things, cloud and mobile become increasingly important when you think about our 3 big acquisitions: Openpath, who has fundamentally changed the game for us in the access control market; Ava and Calipsa as well.

保羅，我想你對視頻也有疑問，我只想簡單地說，到 2022 年，我們的視頻和門禁控制業務今年將增長約 20%。我們繼續廣泛投資於該產品組合，無論是通過我們的邊緣設備或相機。但在我們的軟件和分析方面，當您考慮我們的三大收購時，雲和移動變得越來越重要：Openpath，它從根本上改變了我們在訪問控制市場的遊戲規則； Ava和Calipsa也是如此。

The AI that Calipsa bring and its ability to proliferate into our Pelco camera line is also a game changer. And I think you asked a question about verticals. But when we think about our top verticals, it's really government, education, health care and commercial. If you remember, when we acquired Avigilon in February of 2018, their government business was nascent. And now it's one of our top ones. And we think that's the benefit of the scale and the revenue synergies that our sales force around the globe has been able to bring.

Calipsa 帶來的 AI 及其擴散到我們的 Pelco 相機系列中的能力也改變了遊戲規則。我想你問了一個關於垂直的問題。但是當我們考慮我們的頂級垂直行業時，它實際上是政府、教育、醫療保健和商業。如果您還記得，當我們在 2018 年 2 月收購 Avigilon 時，他們的政府業務才剛剛起步。現在它是我們的頂級產品之一。我們認為這是我們全球銷售團隊能夠帶來的規模和收入協同效應的好處。

Okay. The real question was, I assume it's still preciously early in the government, public sector in terms of video penetration.

好的。真正的問題是，我認為就視頻普及而言，政府和公共部門還處於早期階段。

Yes. So I think we talked about, first of all, just a baseline and government, it's early days. But to eventualize that business, it's approximately $430 million is our expectation this year. Think of that as 2/3 mobile video, 1/3 fixed video.

是的。所以我認為我們首先討論了基線和政府，現在還處於早期階段。但要最終實現該業務，我們今年的預期約為 4.3 億美元。將其視為 2/3 移動視頻，1/3 固定視頻。

Next question comes from Louie DiPalma of William Blair.

下一個問題來自 William Blair 的 Louie DiPalma。

Greg, on previous calls, you referenced how you are seeing robust demand from the education vertical. Is demand from education customers for your artificial intelligence solutions getting even stronger with this exceptionally strong guidance for this upcoming school year following several different security incidents nationwide?

格雷格，在之前的電話會議中，您提到了您如何看待教育垂直行業的強勁需求。在全國發生幾起不同的安全事件之後，隨著即將到來的學年的這一異常強有力的指導，教育客戶對您的人工智能解決方案的需求是否會變得更加強烈？

Yes, Louie, Education has been a very key vertical, along with government for fixed video and access control. It has been and continues to be because of what you referenced the need for video security, perimeter detection, anomaly detection, access control, automation alerts. And I think that the demand for that broad portfolio continues to be strong and maybe perhaps is even getting stronger. And I don't know if Jack or Mahesh want to complement on that as well.

是的，Louie，教育一直是一個非常關鍵的垂直領域，與政府一起用於固定視頻和訪問控制。由於您提到對視頻安全、周界檢測、異常檢測、訪問控制、自動化警報的需求，它一直是並且將繼續是。而且我認為對這種廣泛的投資組合的需求繼續強勁，甚至可能變得更加強勁。我不知道 Jack 或 Mahesh 是否也想對此進行補充。

Greg, I think you hit it. The other one is we made a significant investment to evolve technologies. And I would say stadiums and schools are the big driver for concealed weapons detection. We know the horrific things that happened at Uvalde just earlier in the summer. And I think that's driving a converged experience to make sure that they've got the video and access control, but they also have a way to temper and test for weapons as they approach campus as well.

格雷格，我想你成功了。另一個是我們為發展技術進行了重大投資。我想說體育場和學校是隱藏武器探測的主要驅動力。我們知道夏天早些時候在烏瓦爾德發生的可怕事情。我認為這推動了一種融合體驗，以確保他們擁有視頻和訪問控制，但他們也有辦法在接近校園時調整和測試武器。

The other point I'd make is that our Q2 results and our increased guide for the year were driven largely by our expectations for LMR, which is about 2/3 of the increase in video and then the other 1/3, both of which are serving education and many other verticals.

我要說的另一點是，我們的第二季度業績和今年增加的指導主要是由我們對 LMR 的預期推動的，這大約是視頻增長的 2/3，然後是另外 1/3，兩者都是服務於教育和許多其他垂直領域。

And for Jack, these past 2 quarters, it appears that you won your 2 largest Command Center Software orders in company history. And I think you mentioned in a prior answer that you are seeing traction with hybrid deployments on-premise and the cloud. Were any of your recent orders for your next-gen 911 solution and your 911 call taking and CAD solution in the cloud? Or are these more for your traditional modules that you're seeing the success?

對於 Jack，在過去的兩個季度中，您似乎贏得了公司歷史上最大的 2 個指揮中心軟件訂單。而且我認為您在之前的回答中提到您正在看到內部部署和雲混合部署的吸引力。您最近訂購了下一代 911 解決方案以及雲中的 911 電話接聽和 CAD 解決方案嗎？還是這些更多是您看到成功的傳統模塊？

This is Mahesh. I'd say that there's still stronger demand for the on-premises solution for 911 and CAD. Availability and reliability being some key factors that are involved there. That said, our call handling solutions combined with our heavy investment in smart transcription, which is a cloud-hosted AI solution; Citizen Input, which is also a cloud-hosted way of allowing citizens to have over-the-top video input and text input into PSAP as well for call handling, we're seeing significant traction in that space.

這是馬赫什。我想說的是，對 911 和 CAD 的本地解決方案的需求仍然更大。可用性和可靠性是其中涉及的一些關鍵因素。也就是說，我們的呼叫處理解決方案與我們對智能轉錄的大量投資相結合，這是一種雲託管的人工智能解決方案； Citizen Input，這也是一種雲託管方式，允許公民在 PSAP 中進行頂級視頻輸入和文本輸入以及呼叫處理，我們在該領域看到了巨大的吸引力。

On CAD, hybrid capabilities become very important. We are seeing Aware -- CommandCentral Aware frequently attached with our CAD sales. And the other thing is emphasis on mobile. For LAPD, I mentioned CommandCentral Responder. The need for smartphone access to information in the field is becoming more and more important. And CommandCentral Responder, along with its many capabilities, really complements both our on-premise CAD and record solutions as well. So we see that hybrid really driving adoption for the key features that are best delivered in the cloud, along with the high available solutions that our 911 and CAD customers want.

在 CAD 上，混合功能變得非常重要。我們看到了 Aware——CommandCentral Aware 經常伴隨我們的 CAD 銷售。另一件事是強調移動。對於 LAPD，我提到了 CommandCentral Responder。智能手機訪問該領域信息的需求變得越來越重要。 CommandCentral Responder 及其眾多功能真正補充了我們的本地 CAD 和記錄解決方案。因此，我們看到混合真正推動了在雲中提供的關鍵功能的採用，以及我們的 911 和 CAD 客戶想要的高可用性解決方案。

The next question comes from Paul Chung of JPMorgan.

下一個問題來自摩根大通的 Paul Chung。

So just on the guide, how do we think about kind of the gross margin ramp in the second half? Do you still expect to be kind of flat for the year? And then same kind of question on OpEx. I may have missed it, but still up kind of $100 million for the year. And then as we think about '23, how much of kind of the gross margin pressure this year do you see as somewhat temporary in your expectations of how those margins rebound and particularly in the first half? You also have some benefits from price increases as well and how that kind of factors in? Just your early thoughts on '23.

因此，僅在指南上，我們如何看待下半年的毛利率增長？你還期望今年會持平嗎？然後是關於 OpEx 的類似問題。我可能錯過了它，但今年仍然增加了 1 億美元。然後，當我們考慮到 23 年時，您認為今年毛利率有多少壓力是暫時的，您對這些利潤率如何反彈的預期，尤其是在上半年？您也從價格上漲中獲得一些好處，以及這些因素是如何影響的？只是你對 23 年的早期想法。

Well, I'll start with the biggest driver of our gross margin trend this year is the higher semiconductor costs year-over-year. We had planned for about $100 million of year-over-year increase, which you're seeing in the P&L through the first half. It was actually a little higher than that. And we had planned for $20 million of incremental year-over-year cost for semiconductors in the second half, it will probably be slightly higher than that, given the higher volumes that we just guided to.

好吧，我將從今年毛利率趨勢的最大推動力開始，即半導體成本同比上漲。我們計劃同比增長約 1 億美元，您可以在上半年的損益表中看到這一點。它實際上比那個高一點。而且我們計劃在下半年增加 2000 萬美元的半導體成本，考慮到我們剛剛指導的更高產量，它可能會略高。

So those items, again, are related to us paying a premium for semiconductors that aren't available from primary sources. So as the semiconductor market stabilizes, normalizes, there's opportunity on that as we continue to get more and more supply into the future directly from the manufacturers, which is something we're working on.

因此，這些項目再次與我們為無法從主要來源獲得的半導體支付溢價有關。因此，隨著半導體市場的穩定和正常化，我們將繼續從製造商那裡直接獲得越來越多的供應，這是我們正在努力的方向。

In terms of gross margin trend, for the year, yes. The second half will be certainly better, and we'll get to approximately similar and OE slightly up for the year, which will cover the $100 million of OpEx, you're right, of increase that we're expecting for the year-over-year, $75 million of which from the OpEx side is related to M&A. So that's how to think about it from a P&L perspective.

就今年的毛利率趨勢而言，是的。下半年肯定會更好，今年我們將達到大致相似，OE 略有上升，這將涵蓋 1 億美元的運營支出，你是對的，我們預計全年的增長-年，其中 7500 萬美元來自運營支出，與併購有關。這就是如何從損益的角度來考慮它。

Okay. Great. And then just a follow-up on video. You're seeing some relative strength in the Software and Services for quite some time. So talk about the demand trends and specific solutions you're kind of most excited about? And how do we think about that relative pace as we look further out?

好的。偉大的。然後只是對視頻的跟進。很長一段時間以來，您在軟件和服務中看到了一些相對優勢。那麼談談您最感興趣的需求趨勢和具體解決方案？當我們看得更遠時，我們如何看待這種相對速度？

Yes. Paul, I think so we've talked about we expect 20% for fixed video and really for the video segment as well, approximately 20% for the full year. We've dimensionalized some of the verticals. We're having some success. I think it's a story about cloud, mobile analytics.

是的。保羅，我認為我們已經討論過我們預計固定視頻和視頻部分的比例為 20%，全年約為 20%。我們已經對一些垂直領域進行了維度化。我們正在取得一些成功。我認為這是一個關於雲、移動分析的故事。

The other piece of it that we probably didn't talk are some of the vertical specific things that we're doing. We acquired a company called Envision. That gives us a space into quick-service retail. And investments like that as well as cloud put us on a path where we're starting to build a recurring revenue business within our video security segment as well, which is exciting.

我們可能沒有談論的另一部分是我們正在做的一些垂直特定的事情。我們收購了一家名為 Envision 的公司。這為我們提供了快速服務零售的空間。像這樣的投資以及雲計算讓我們走上了一條道路，我們也開始在我們的視頻安全領域建立經常性收入業務，這令人興奮。

The next question comes from Jim Suva of Citigroup.

下一個問題來自花旗集團的 Jim Suva。

Congratulations to you and your team. Greg, when we think about strategy, and you mentioned you had your biggest LMR contract ever, which is great. Are you now at a point where the majority of your new wins are including multiple cross-sell Motorola Solutions, product solutions, services, command centers and things like that? Or are we still at the very early part of not much is be connected? That was kind of my strategy question.

祝賀你和你的團隊。 Greg，當我們考慮戰略時，您提到您擁有有史以來最大的 LMR 合同，這很棒。您現在的大部分新勝利是否包括多個交叉銷售摩托羅拉解決方案、產品解決方案、服務、指揮中心等？還是我們還處於沒有太多聯繫的早期階段？那是我的策略問題。

Then for finance -- Chief Financial Officer question. Did you say how much impacted gross margins decommits or go into a broker market was for components? And I assume when you get these big contracts, you're securing the parts right away, so you don't have future price escalation as chip companies have increased pricing?

然後是財務——首席財務官的問題。你有沒有說組件的毛利率取消或進入經紀人市場有多大影響？而且我假設當您獲得這些大合同時，您會立即獲得零件，因此隨著芯片公司提高定價，您不會有未來的價格上漲？

Well, on the first part, Jim, I think we're in the early innings overall. I mean you take a step back and think about this firm and our addressable market now given the industries we play in and the acquisitions we've made, it's just under $50 billion. And the guidance this year for full year informs approximately 9%. So there's a lot of room to run here.

好吧，在第一部分，吉姆，我認為我們總體上處於早期階段。我的意思是你退後一步想想這家公司和我們現在的潛在市場，考慮到我們所從事的行業和我們所做的收購，它不到 500 億美元。今年全年的指導信息大約為 9%。所以這裡有很大的空間可以運行。

While we are growing fixed video and access control at 20%, we are not the leader yet, either globally or in North America. And I think there's every opportunity for us to continue to take share and make up ground given the width and breadth of the portfolio, which I believe from an industry standpoint is unmatched. Our ability to play in fixed video and mobile video, layer on analytics, license plate recognition and all the things that Mahesh and the technical team are doing an artificial intelligence.

雖然我們正在以 20% 的速度增長固定視頻和訪問控制，但我們還不是全球或北美的領導者。而且我認為，鑑於投資組合的廣度和廣度，我們有機會繼續分享和彌補，我相信從行業的角度來看這是無與倫比的。我們在固定視頻和移動視頻中播放的能力、分析層、車牌識別以及 Mahesh 和技術團隊正在做的所有人工智能的事情。

On LMR, the installed base gets larger. You think about roughly 13,000 different LMR networks, by which we fill the footprint of infrastructure, sell devices, monetize services, upsell, refresh the device portfolio, integrate LTE into LMR for network extension and software over-the-air reprogramming and location services. And then all the things Mahesh is doing in Command Center Software, which is premises-based, cloud-based, hybrid and the overall backdrop of more and more criticality around public safety, enterprise security and not having key China vendors in any of that critical infrastructure, I think there's a lot of opportunity in front of us.

在 LMR 上，安裝基數變得更大。您想想大約 13,000 個不同的 LMR 網絡，我們通過這些網絡填充基礎設施、銷售設備、通過服務獲利、追加銷售、更新設備組合、將 LTE 集成到 LMR 中以進行網絡擴展以及軟件無線重新編程和定位服務。然後是 Mahesh 在 Command Center Software 中所做的所有事情，它是基於場所、基於雲的、混合的，以及圍繞公共安全、企業安全越來越重要的整體背景，並且在任何關鍵的中國供應商中都沒有基礎設施，我認為我們面前有很多機會。

The only thing I'd add, Greg, is I think, Jim, I think I heard you ask a question on cross-sell. It's very important. We've attacked that by way of sales specific incentives around Command Center Software around fixed and mobile video as well. Our North America sales leader, Jim, here is, has come up with -- first of all, we have a tool, a 3-dimensional tool by account that gives us kind of the lay of the land where we're doing well and where we're not and where we should focus our time. And we've inserted a sales around specific technology escalators. And that, I think, served us fairly well.

格雷格，我唯一要補充的是，吉姆，我想我聽到你問了一個關於交叉銷售的問題。這很重要。我們已經通過圍繞固定和移動視頻的 Command Center Software 的銷售特定激勵措施來解決這個問題。我們的北美銷售主管，吉姆，這裡是，首先，我們有一個工具，一個 3D 工具，它為我們提供了一種我們做得很好的土地，並且我們不在的地方，我們應該把時間集中在哪裡。我們已經圍繞特定的技術自動扶梯插入了銷售。我認為，這對我們很有幫助。

And Jim, to answer your question on securing semiconductor components, we're doing so in many different ways, directly from the manufacturer through us and purchase orders all the way through long-term supply agreements. And then finally, brokers when necessary, and therefore, have a constant flow of parts. I think it's important to note that Motorola and our engineering abilities, over 40% of our company are engineers. And we continually give them challenges, including if a part we know to be in constraint, they are helping find alternatives. And that alternative, then the supply chain organization can go out and procure. So it's a constant battle, and we're proud of the way the teams are collaborating and working through the environment.

吉姆，為了回答您關於保護半導體組件的問題，我們以多種不同的方式這樣做，直接從製造商通過我們和採購訂單一直到長期供應協議。最後，經紀人在必要時，因此有源源不斷的零件。我認為重要的是要注意摩托羅拉和我們的工程能力，我們公司超過 40% 的人是工程師。我們不斷地給他們挑戰，包括如果我們知道某個部分受到限制，他們正在幫助尋找替代方案。而那個替代方案，那麼供應鏈組織就可以出去採購。所以這是一場持續不斷的戰鬥，我們為團隊在環境中協作和工作的方式感到自豪。

This concludes our question-and-answer session. I will now turn the floor over to Mr. Greg Brown, Chairman and Chief Executive Officer, for any additional comments or closing remarks.

我們的問答環節到此結束。我現在請主席兼首席執行官 Greg Brown 先生髮表任何補充意見或閉幕詞。

Yes. Thank you, everybody. Most especially, thank you for all the Motorolans on the call and listening. Exceptional performance, couldn't be more proud of you. I'm proud of this company, proud of you and proud of the purpose that we serve. I think -- look, I think these results amplify and reinforce the criticality of public safety and enterprise security and the fact that in this environment, quite frankly, it's never been more important.

是的。謝謝大家。尤其要感謝所有摩托羅拉人的電話和聆聽。卓越的表現，不能為你感到驕傲。我為這家公司感到自豪，為您感到自豪，並為我們服務的宗旨感到自豪。我認為 - 看，我認為這些結果放大並強化了公共安全和企業安全的重要性，以及在這種環境下，坦率地說，它從未像現在這樣重要。

I want to add to something Jason just said and tip my hat to everybody involved on supply chain execution and navigating this very dynamic environment. I do think part of the overperformance in Q2 and what we're passing on for the full year is strong execution in supply chain. I think it's largely done by the engineers that Jason referenced and others on product redesign, surgical acquisition of inventory, appropriate purchases in the open market for broker parts and a modestly slightly better environment in Q2.

我想補充一下 Jason 剛才所說的內容，並向參與供應鏈執行和在這個非常動態的環境中導航的每個人致敬。我確實認為第二季度的超額表現以及我們全年傳遞的部分原因是供應鏈的強大執行力。我認為這主要是由 Jason 引用的工程師和其他人在產品重新設計、庫存的外科收購、在公開市場上適當購買經紀人零件以及第二季度稍微好一點的環境方面完成的。

But the supply chain, specifically semiconductor environment remains challenging. Having said all that, there's more work to be done, but I do like our position and I like our momentum for the second half. We have to continue to execute.

但供應鏈，特別是半導體環境仍然充滿挑戰。說了這麼多，還有更多的工作要做，但我確實喜歡我們的位置，我喜歡我們下半場的勢頭。我們必須繼續執行。

I appreciate you listening, and I look forward to talking to you and joining you in a few months. Thanks, everybody.

感謝您的聆聽，我期待在幾個月後與您交談並加入您的行列。謝謝大家。

Ladies and gentlemen, this does conclude today's teleconference. A replay of this call will be available over the Internet within 2 hours. The website address is www.motorolasolutions.com/investor. We thank you for your participation and ask that you please disconnect your lines at this time.

女士們，先生們，今天的電話會議到此結束。該電話的重播將在 2 小時內通過 Internet 提供。網站地址是 www.motorolasolutions.com/investor。我們感謝您的參與，並要求您此時請斷開您的線路。