Oblong Inc (OBLG) 2022 Q2 法說會逐字稿

Welcome to the Oblong, Inc. second-quarter 2022 earnings results conference call. As a reminder, this conference is being recorded. Hosting the call today are Oblong's President and CEO, Peter Holst; and CFO, David Clark. Please be aware some of the comments made during today's call may contain forward-looking statements within the meanings of federal securities laws.

歡迎來到 Oblong, Inc. 2022 年第二季度收益結果電話會議。提醒一下，這次會議正在錄製中。今天主持電話會議的是 Oblong 的總裁兼首席執行官 Peter Holst；和首席財務官大衛克拉克。請注意，在今天的電話會議中發表的一些評論可能包含聯邦證券法含義內的前瞻性陳述。

Statements about our beliefs and expectations containing words such as may, could, would, will, should, believe, expect, anticipate, and similar expressions constitute forward-looking statements. These statements involve risks and uncertainties regarding our operations and our future results that could cause actual results to differ materially from management's current expectations.

關於我們的信念和期望的陳述包含諸如可能、可能、會、將、應該、相信、期望、預期和類似表達的詞語構成前瞻性陳述。這些陳述涉及與我們的運營和未來結果有關的風險和不確定性，這些風險和不確定性可能導致實際結果與管理層當前的預期存在重大差異。

In addition, today's call includes non-GAAP financial measures. A reconciliation of such measures to GAAP measures is contained in the press release issued today. We encourage you to review the Safe Harbor statement and risk factors contained in the company's earnings release and filings with the SEC, including, without limitation, our most recent annual report on Form 10-K and other periodic reports that identify specific risk factors that may also cause actual results or events to differ materially from those described in the forward-looking statements.

此外，今天的電話會議還包括非 GAAP 財務指標。今天發布的新聞稿包含此類措施與 GAAP 措施的協調。我們鼓勵您查看公司收益發布和向美國證券交易委員會提交的文件中包含的安全港聲明和風險因素，包括但不限於我們關於 10-K 表格的最新年度報告和其他定期報告，這些報告確定了可能存在的特定風險因素也導致實際結果或事件與前瞻性陳述中描述的結果或事件存在重大差異。

Copies of the company's most recent reports on Form 10-K and 10-Q may be obtained on the company's website, oblong.com, or the SEC website, sec.gov. The company does not undertake to publicly update or revise any forward-looking statements after the call or date of this call.

公司關於 10-K 和 10-Q 表格的最新報告副本可在公司網站 oblong.com 或 SEC 網站 sec.gov 上獲取。公司不承諾在本次電話會議或本次電話會議日期後公開更新或修改任何前瞻性陳述。

I would also like to remind everyone that this call will be available for replay through August 23. A link to the website replay of the call is also provided in the earnings release and is available on the company's website, oblong.com.

我還想提醒大家，該電話會議將在 8 月 23 日之前進行重播。財報中還提供了電話會議網站重播的鏈接，可在公司網站 oblong.com 上找到。

I will now turn the call over to the CFO of Oblong, David Clark.

我現在將把電話轉給 Oblong 的首席財務官 David Clark。

Thank you, Nate. Good afternoon, everyone. Our revenue for the second quarter of 2022 was $1.3 million compared to $2 million for the second quarter of last year. This decrease in revenue from last year is mainly because of the effects of the ongoing global pandemic, our existing and potential customers as they have deferred IT-buying decisions while evaluating how and when to reopen their commercial office space.

謝謝你，內特。大家下午好。我們 2022 年第二季度的收入為 130 萬美元，而去年第二季度為 200 萬美元。與去年相比收入減少的主要原因是持續的全球大流行病、我們現有和潛在客戶的影響，因為他們在評估如何以及何時重新開放其商業辦公空間時推遲了 IT 購買決策。

Net loss for the second quarter of 2022 was $9 million compared to a net loss of $2.2 million for the second quarter of 2021. Net loss for the second quarter of this year included non-cash impairment charges on goodwill and other assets of $6.4 million. Our adjusted EBITDA loss was $1.5 million in the second quarter of 2022 compared to an adjusted EBITDA loss of $1.6 million for the same period last year.

2022 年第二季度的淨虧損為 900 萬美元，而 2021 年第二季度的淨虧損為 220 萬美元。今年第二季度的淨虧損包括商譽和其他資產的非現金減值費用 640 萬美元。 2022 年第二季度，我們調整後的 EBITDA 虧損為 150 萬美元，而去年同期調整後的 EBITDA 虧損為 160 萬美元。

Turning to our balance sheet. At the end of the second quarter of 2022, we had total cash of $5.1 million, zero debt, and working capital of $5.5 million. Based on our current projections, we believe we have liquidity in Q2 of 2023.

轉向我們的資產負債表。到 2022 年第二季度末，我們的現金總額為 510 萬美元，債務為零，營運資金為 550 萬美元。根據我們目前的預測，我們認為我們在 2023 年第二季度有流動性。

I will now turn the call over to our CEO, Pete Holst.

我現在將把電話轉給我們的首席執行官皮特霍爾斯特。

Thanks, Dave. Good afternoon, and thanks to everyone for joining today's call. As I have acknowledged in recent quarters, our growth objectives remain tempered by the lingering effects of the pandemic, and in particular, buying behaviors of IT and facilities leaders trying to better understand technology needs for a rapidly evolving workforce. Our products have often been purchased by IT leaders looking to push the boundaries of conventional collaboration by exploring spatial and industrial interaction with information.

謝謝，戴夫。下午好，感謝大家參加今天的電話會議。正如我在最近幾個季度所承認的那樣，我們的增長目標仍然受到大流行的揮之不去的影響，特別是 IT 和設施領導者試圖更好地了解快速發展的勞動力的技術需求的購買行為。我們的產品經常被 IT 領導者購買，他們希望通過探索與信息的空間和工業交互來突破傳統協作的界限。

And while we continue to see an array of investments into third-generation web products, it's also clear larger macro influences of inflation, and a lack of a visibility into how and when staff office space opens, remain headwinds for near-term growth.

雖然我們繼續看到對第三代網絡產品的一系列投資，但通貨膨脹的宏觀影響顯然更大，而且缺乏對員工辦公空間開放方式和時間的了解，仍然是近期增長的阻力。

In the spirit of getting to the points and with a goal to provide our shareholders a clearer picture of our objectives for the rest of 2022, I'll highlight three key areas we believe provide the best opportunity for value creation in the near term. Number one, we are, as mentioned in the last call, we are evaluating the sale and/or merger of the company. And the company has undertaken a substantial and thorough review of its operations and intellectual property in that regard.

本著直截了當的精神，並為了讓我們的股東更清楚地了解我們 2022 年剩餘時間的目標，我將強調我們認為在短期內提供最佳價值創造機會的三個關鍵領域。第一，正如上次電話會議中提到的，我們正在評估公司的出售和/或合併。公司在這方面對其運營和知識產權進行了實質性和徹底的審查。

Since our last earnings call, we've explored a number of potential alternatives, received a number of inbound calls, and we'll continue to evaluate transactions that provide long-term value for our shareholders. Of note, we've seen a substantial pickup in activity in the last 30 days.

自我們上次財報電話會議以來，我們已經探索了許多潛在的替代方案，接到了許多來電，我們將繼續評估為我們的股東提供長期價值的交易。值得注意的是，我們在過去 30 天內看到了活動的大幅回升。

The second area is optimizing our product and price combination for our existing channel partners and our end customers. As previously mentioned, our products tend to be purchased and used by early adopters who are looking to amplify traditional interaction and office spaces. We have approached a number of key partners and customers throughout Q2 to better understand how we could better scale within the channel and optimize our current inventory levels.

第二個領域是為我們現有的渠道合作夥伴和最終客戶優化我們的產品和價格組合。如前所述，我們的產品往往被希望擴大傳統互動和辦公空間的早期採用者購買和使用。我們在整個第二季度與許多主要合作夥伴和客戶進行了接觸，以更好地了解我們如何更好地在渠道內擴展並優化我們當前的庫存水平。

And lastly, number three, stay operationally disciplined. As everyone has witnessed in recent months, there have been mass layoffs across the entire technology sector as growth has slowed. In anticipation of looming headwinds across the entire market, the company has taken major steps to extend our liquidity into the second quarter of 2023, as Dave mentioned earlier. Going forward and as Bill Gross once said, execution matters a lot, but timing might matter even more.

最後，第三，保持運營紀律。正如最近幾個月所有人都看到的那樣，隨著增長放緩，整個科技行業都出現了大規模裁員。正如 Dave 先前提到的，由於預計整個市場將出現逆風，公司已採取重大措施將我們的流動性延長至 2023 年第二季度。展望未來，正如 Bill Gross 曾經說過的那樣，執行很重要，但時機可能更重要。

Prior to March 2020, we had a number of positive market signals suggesting Mezzanine was poised to expand its footprint across our entire customer base, and then things changed. So while timing hasn't been great the last couple of years, we have weathered the storm and remain committed to finding new paths for growth and value creation.

在 2020 年 3 月之前，我們收到了許多積極的市場信號，表明 Mezzanine 準備擴大其在我們整個客戶群中的足跡，然後情況發生了變化。因此，雖然過去幾年時機不佳，但我們已經度過了風暴，並繼續致力於尋找新的增長和價值創造途徑。

In short, ultimately, timing will come back towards this sector and whether it's augmented reality or just real spatial interaction, or next-gen Web3 products, we believe Oblong remains poised to take advantage of a very, very large and growing market opportunity in the future.

簡而言之，最終，時機將回到這個領域，無論是增強現實還是真正的空間交互，還是下一代 Web3 產品，我們相信 Oblong 仍然準備好利用這個非常非常大且不斷增長的市場機會未來。

Thanks for joining the call today. And again, I look forward to providing more updates as they arise.

感謝您今天加入電話會議。再一次，我期待在出現更多更新時提供它們。

This concludes today's call. As previously stated, a link to the website replay of the call is also provided in the earnings release and available on the company's website, oblong.com.

今天的電話會議到此結束。如前所述，收益發布中還提供了電話重播網站的鏈接，並可在公司網站 oblong.com 上找到。