Ooma Inc (OOMA) 2026 Q2 法說會逐字稿

Hello, and welcome to Ooma, Inc.'s second-quarter fiscal year 2026 financial results conference call. (Operator Instructions)

您好，歡迎參加 Ooma, Inc. 2026 財年第二季財務業績電話會議。 （操作員指示）

I would now like to turn the conference over to Matt. You may begin.

現在我想把會議交給馬特。你可以開始了。

Thank you, Tawanda. Good day, everyone, and welcome to the fiscal second quarter 2026 earnings call of Ooma, Inc. My name is Matt Robison, Ooma's Director of IR and Corporate Development.

謝謝你，塔萬達。大家好，歡迎參加Ooma公司2026財年第二季財報電話會議。我是Ooma投資者關係和企業發展總監馬特·羅賓遜(Matt Robison)。

On the call with me today are Ooma's CEO, Eric Stang; and CFO, Shig Hamamatsu. After the market closed today, Ooma issued its fiscal second-quarter 2026 earnings press release. This release is also available on the company's website, ooma.com. This call is being webcast live and is accessible from a link on the Events and Presentations page of the Investor Relations section of our website. This link will be active for replay of this call for one year.

今天與我一起參加電話會議的還有 Ooma 執行長 Eric Stang 和財務長 Shig Hamamatsu。今天股市收盤後，Ooma 發布了其 2026 財年第二季獲利新聞稿。此新聞稿亦可在公司網站 ooma.com 上查閱。本次電話會議將進行網路直播，您可以透過我們網站「投資者關係」板塊「活動及簡報」頁面上的連結存取。此連結有效期限為一年，可重播本次電話會議。

During today's presentation, our executives will make forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or future financial or operating performance. Our expectations and beliefs regarding these matters may not materialize, and actual results are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in the press release we issued earlier today, and those risks more fully described in our filings with the Securities and Exchange Commission.

在今天的演示中，我們的高階主管將根據聯邦證券法做出前瞻性陳述。前瞻性陳述通常涉及未來事件或未來財務或營運績效。我們對這些事項的預期和信念可能無法實現，實際結果受風險和不確定性的影響，這些風險和不確定性可能導致實際結果與預期有重大差異。這些風險包括我們今天早些時候發布的新聞稿中所述風險，以及我們提交給美國證券交易委員會的文件中更詳細描述的風險。

The forward-looking statements in this presentation are based on information available to us as of the date hereof, and we disclaim any obligation to update any forward-looking statements except as required by law.

本簡報中的前瞻性陳述是基於我們截至本新聞稿之日所掌握的信息，除法律要求外，我們不承擔更新任何前瞻性陳述的義務。

Please note that other than revenue or as otherwise stated, the financial measures to be disclosed on this call will be on a non-GAAP basis. The non-GAAP financial measures are not intently considered in isolation or as a substitute for results prepared in accordance with GAAP. A discussion of why we present non-GAAP financial measures and a reconciliation of the non-GAAP financial measures discussed in this call to the most directly comparable GAAP financial measures is included in our earnings press release, which is available on our website.

請注意，除收入或另有說明外，本次電話會議中揭露的財務指標將採用非公認會計準則 (non-GAAP)。非公認會計準則 (non-GAAP) 財務指標並非單獨考慮，也不旨在取代根據公認會計準則 (GAAP) 編制的績效。關於我們為何採用非公認會計準則 (non-GAAP) 財務指標的討論，以及本次電話會議中討論的非公認會計準則 (non-GAAP) 財務指標與最直接可比較的公認會計準則 (GAAP) 財務指標的對賬表，已包含在我們網站上發布的收益新聞稿中。

On this call, we will give guidance for third quarter and full year fiscal 2026 on a non-GAAP basis. Also, in addition to our press release and 8-K filing, the overview page and Events and Presentations page in the Investors section of our website, as well as the Quarterly Results page of the Financial Information section of our website includes links to information about costs and expenses not included in our non-GAAP values and key metrics of our core subscription businesses. These are titled Supplemental Financial Disclosure 1 and Supplemental Financial Disclosure 2.

在本次電話會議上，我們將以非公認會計準則 (Non-GAAP) 為基礎，提供 2026 財年第三季及全年業績指引。此外，除了新聞稿和 8-K 文件外，我們網站「投資者」板塊的概覽頁面、「活動及演示」頁面，以及「財務資訊」板塊的「季度業績」頁面，都包含非公認會計準則 (Non-GAAP) 數據中未包含的成本和費用資訊以及核心訂閱業務的關鍵指標連結。這些連結分別名為「補充財務揭露 1」和「補充財務揭露 2」。

Additionally, our investor presentation slides include GAAP to non-GAAP reconciliation that also provides us resolution of GAAP expenses that are excluded from non-GAAP metrics. Now I will hand the call over to Ooma's CEO, Eric Stang.

此外，我們的投資者簡報投影片包含 GAAP 與非 GAAP 的對賬，其中還提供了非 GAAP 指標中未包含的 GAAP 費用的解決方案。現在，我將把電話交給 Ooma 執行長 Eric Stang。

Thank you, Matt. Hi, everyone. Welcome to Ooma's second-quarter fiscal 2026 earnings call. Thank you for joining us. We're pleased to report strong Q2 financial results and to discuss the momentum we have going into the second half of our fiscal year.

謝謝，馬特。大家好。歡迎參加Ooma 2026財年第二季財報電話會議。感謝您的參與。我們很高興地報告強勁的第二季財務業績，並討論我們進入下半年財報季的勢頭。

. Financially, we grew our revenue in Q2 to $66.4 million, while also setting some bottom line records. In Q2, we achieved record non-GAAP net income of $6.5 million and record adjusted EBITDA of $7.2 million. GAAP net income was $1.3 million and cash flow from operations was $6.4 million.

財務方面，我們第二季的營收成長至6,640萬美元，同時創下了一些獲利紀錄。第二季度，我們的非公認會計準則淨利潤達到創紀錄的650萬美元，調整後息稅折舊攤提前利潤（EBITDA）達到創紀錄的720萬美元。公認會計準則淨利為130萬美元，營運現金流為640萬美元。

Currently, we are at 11% adjusted EBITDA as a percent of revenue, our highest to date, and now already at the low end of our midterm target range model of 11% to 14%. I believe these results show the power of our business to grow top line revenue while also driving improved bottom line profitability.

目前，我們的調整後EBITDA佔營收的比重為11%，是迄今為止的最高水平，並且已經達到了我們中期目標區間模型（11%至14%）的低端。我相信這些業績展現了我們業務在提升營收的同時，也推動獲利能力提升的強勁實力。

Regarding our revenue from business users, our metrics strengthened in Q2. User growth net of churn, average revenue per user, annual exit recurring revenue and the take rate of our Pro and Pro Plus higher-tier offerings were all up both sequentially and year over year. We believe we executed well to achieve these results.

就企業用戶收入而言，我們的各項指標在第二季有所提升。扣除流失用戶後的用戶成長、每用戶平均收入、年度退出經常性收入以及 Pro 和 Pro Plus 高級版產品的佣金率均環比和同比均有所增長。我們相信，我們之所以取得這些成績，是因為我們執行得當。

Regarding our communications solutions for smaller-sized businesses, we will be strengthening our ability to provide a double-play offering by introducing the Connect 5000 later this quarter. Connect 5000 is a 5G Internet solution that incorporates WiFi and prioritizes voice traffic over the connection. Sold with Ooma Office, it will allow us to offer a more complete solution for our customers. It also affords us the opportunity to increase our revenue and have a deeper relationship with our customers.

關於我們針對小型企業的通訊解決方案，我們將在本季稍後推出 Connect 5000，以增強我們提供雙網合一服務的能力。 Connect 5000 是一款 5G 網路解決方案，它整合了 WiFi，並優先處理語音流量。它將與 Ooma Office 一起出售，使我們能夠為客戶提供更全面的解決方案。它也為我們提供了增加收入並與客戶建立更深入關係的機會。

In Q3, we will also continue our efforts to develop new AI-driven features. For smaller-sized businesses, we believe AI features need to be not only powerful, but also very easy to use and extremely low cost. We have already developed AI applications that we use internally and are learning from them as we craft new features for our customers. New AI features, along with more advanced contact center functionality and integrations with other vertical solutions will allow us to serve slightly larger-sized businesses, and we are already beginning to see some traction in that regard.

第三季度，我們也將繼續努力開發新的人工智慧驅動功能。對於小型企業，我們認為人工智慧功能不僅需要功能強大，還必須非常易於使用且成本極低。我們已經開發了一些內部使用的人工智慧應用程序，並在為客戶打造新功能的過程中不斷學習。新的人工智慧功能，加上更先進的聯絡中心功能以及與其他垂直解決方案的集成，將使我們能夠服務於規模稍大的企業，而且我們已經開始看到這方面的一些進展。

I'm pleased to report that AirDial ramped well in Q2. We more than doubled new bookings year-over-year and secured our largest customer win today with a large national retailer. We've started the rollout with this retailer and anticipate serving over 3,000 locations. We also closed several other significantly sized customers who placed initial orders. As is our goal every quarter, we expanded the number of partners who will resell AirDial and signed three new partner resellers in the quarter.

我很高興地報告，AirDial 在第二季表現良好。我們的新訂單量年增了一倍多，今天我們與一家大型全國性零售商達成了我們最大的客戶協議。我們已開始與這家零售商合作，預計將服務超過 3,000 個門市。我們也完成了幾筆其他已下單的大型客戶的簽約。秉承每季的目標，我們擴大了 AirDial 轉售合作夥伴的數量，並在本季簽署了三家新的合作經銷商。

We believe two of these new partners have experienced selling competitive solutions and will be able to ramp relatively quickly with AirDial. In total, we are now approaching 35 AirDial partner resellers.

我們相信，其中兩家新合作夥伴擁有銷售競爭性解決方案的經驗，能夠與 AirDial 合作，相對快速地實現業務成長。目前，我們已與 35 家 AirDial 合作經銷商接洽。

Currently, real estate and REITs, colleges and universities, health care and senior living, state and local government and hospitality are very active segments for AirDial. And in general, we believe the POS replacement market is expanding as more businesses come to realize the need to act. We believe AirDial is the leading solution in the market today, and we intend to make it even stronger in the future by introducing further enhancements to our AirDial remote device management portal and by driving down the cost of AirDial hardware.

目前，房地產和房地產投資信託基金 (REIT)、大學、醫療保健和養老院、州和地方政府以及酒店業是 AirDial 非常活躍的領域。總體而言，我們相信，隨著越來越多的企業意識到採取行動的必要性，POS 替代市場正在不斷擴大。我們相信 AirDial 是當今市場上領先的解決方案，我們計劃在未來透過進一步增強 AirDial 遠端設備管理入口網站並降低 AirDial 硬體成本，使其更加強大。

For 2600 Hertz, our wholesale UCaaS, CPaaS and contact center platform, we announced in Q2 the launch of new mobile and desktop applications. More recently, we also introduced video meetings and team chat. We signed 1 new customer in Q2 and expanded with several existing customers. Looking forward, we see continued sales momentum and remain focused on extending Ooma's IP to the 2600 Hertz platform.

對於我們的批發UCaaS、CPaaS和聯絡中心平台2600 Hertz，我們在第二季宣布推出新的行動和桌面應用程式。最近，我們也推出了視訊會議和團隊聊天功能。我們在第二季簽約了一位新客戶，並與幾位現有客戶進行了拓展。展望未來，我們將繼續保持銷售勢頭，並將繼續專注於將Ooma的智慧財產權擴展到2600 Hertz平台。

On the residential front, we had a stronger quarter for new customer acquisition and experienced slightly reduced churn compared to Q1. Subscription and services revenue, though down year-over-year was up slightly sequentially. Retail and direct are our main sales channels, but we also sell to Internet service providers and receive customer referrals from T-Mobile. Currently, we have approximately 85 ISPs selling or referring Telo and we signed 7 new ISPs in Q2. While ISP driven users make up just a small percentage of our Telo user base today, we believe sales to ISPs represent additional opportunity for growth.

在住宅用戶方面，本季我們的新客戶獲取表現強勁，客戶流失率較第一季略有下降。訂閱和服務收入雖然年減，但較上季略有成長。零售和直銷是我們的主要銷售管道，但我們也向網路服務供應商銷售產品，並透過T-Mobile獲得客戶推薦。目前，我們約有85家網路服務供應商（ISP）銷售或推薦Telo產品，第二季我們簽約了7家新的網路服務供應商（ISP）。雖然目前由網路服務供應商驅動的用戶僅占我們Telo用戶群的一小部分，但我們相信，向網路服務供應商銷售產品代表著額外的成長機會。

As we go into the second half of our fiscal year, our focus is on capitalizing fully on AirDial, continuing to enhance Ooma Office to drive higher ARPU and to expand to larger customers, and positioning 26 Hertz as the best wholesale platform. We hope to expand our list of AirDial partners and see our existing partners ramp sales significantly. Most of all, we are focused on executing well. We believe we have built outstanding solutions and have set goals to drive both growth and improved profitability going forward.

隨著財年進入下半年，我們的重點是充分利用 AirDial，繼續增強 Ooma Office 以提升 ARPU 並拓展更大的客戶群，並將 26 Hertz 定位為最佳批發平台。我們希望擴大 AirDial 合作夥伴名單，並看到現有合作夥伴的銷售額大幅成長。最重要的是，我們專注於高效執行。我們相信我們已經建立了卓越的解決方案，並設定了未來推動成長和獲利能力提升的目標。

Now before I turn it over to Shig, I would also like to mention that this past July marked 10 years since Ooma became a public company. We are proud of this milestone. Since we went public, we have more than tripled our revenue, dramatically improved our bottom line, shifted to serving primarily business customers and reinvented ourselves to serve new markets. I'm proud of our accomplishments and excited as I look forward since I believe Ooma has never been stronger than it is today.

在把發言權交給Shig之前，我還想提一下，今年7月是Ooma上市十週年。我們為這一里程碑感到自豪。自上市以來，我們的收入增長了兩倍多，盈利大幅提升，業務轉向主要服務企業客戶，並進行了轉型以服務新市場。我為我們的成就感到自豪，並充滿期待，因為我相信Ooma從未像今天這樣強大。

I'll now turn over the call to Shig, our CFO, to discuss our results and outlook in more detail and then return with some closing remarks.

現在，我將把電話轉給我們的財務長 Shig，更詳細地討論我們的業績和前景，然後再做一些結束語。

Thank you, Eric, and good afternoon, everyone. I'm going to review our second quarter financial results and then provide our outlook for the third quarter and full fiscal year 2026.

謝謝埃里克，大家下午好。我將回顧我們第二季的財務業績，然後展望一下2026年第三季和全年的業績。

Our second quarter revenue was $66.4 million, above our guidance range and was up 3.5% year-over-year, driven by the growth of Ooma business, including AirDial. In Q2, business subscription and services revenue accounted for 62% of total subscription services revenue as compared to 60% in the prior year quarter. Q2 product and other revenue came in at $5.2 million and was up 15% year-over-year due to growth in AirDial installations.

我們第二季的營收為 6,640 萬美元，高於我們的預期範圍，年增 3.5%，這得益於包括 AirDial 在內的 Ooma 業務的成長。第二季度，企業訂閱和服務收入佔總訂閱服務收入的 62%，而去年同期這一比例為 60%。第二季產品及其他營收為 520 萬美元，年增 15%，這得益於 AirDial 安裝量的成長。

On the profitability front, Q2 non-GAAP net income was $6.5 million, above our guidance range of $5.6 million to $5.9 million and grew 59% year-over-year, primarily driven by our improving operating leverage. Q2 non-GAAP net income this year also included a small amount of tax benefit due to the recent changes in the U.S. tax law.

在獲利能力方面，第二季非公認會計準則淨利為650萬美元，高於我們560萬美元至590萬美元的預期區間，較去年同期成長59%，主要得益於我們不斷提升的營運槓桿。由於美國稅法近期變化，今年第二季非公認會計準則淨利潤還包含少量稅收優惠。

Now some details on our Q2 revenue. Business subscription and services revenue grew 6% year-over-year in Q2, driven by user growth and ARPU growth. On the residential side, subscription and services revenue was down 2% year-over-year. For the second quarter, total subscription and services revenue was $61.1 million or 92% of total revenue as compared to $59.6 million or 93% of total revenue in the prior year quarter.

現在來介紹一下我們第二季的營收狀況。受用戶成長和每用戶平均收入 (ARPU) 成長的推動，第二季企業訂閱和服務收入較去年同期成長 6%。住宅訂閱和服務收入較去年同期下降 2%。第二季度，總訂閱和服務收入為 6,110 萬美元，佔總收入的 92%，而去年同期為 5,960 萬美元，佔總收入的 93%。

Now some details on our key customer metrics. We ended the second quarter with 1,230,000 core users, up from 1,225,000 core users at the end of the first quarter. At the end of the second quarter, we had 508,000 business users or 41% of our total core users, an increase of 9,000 from Q1. Our blended average monthly subscription and services revenue per core user or ARPU increased 4% year-over-year to $15.68, driven by an increase in mix of business users, including higher ARPU, Office Pro and Pro Plus users.

現在來詳細了解我們的關鍵客戶指標。第二季末，我們的核心用戶數為123萬，高於第一季末的122.5萬。第二季末，我們擁有50.8萬名企業用戶，佔核心用戶總數的41%，較第一季增加了9,000名。我們的每核心用戶平均每月訂閱及服務收入（ARPU）年增4%，達到15.68美元，這得益於企業用戶群的成長，包括更高的ARPU、Office Pro和Pro Plus用戶。

During the second quarter, we continued to see a healthy Office Pro and Pros Plus take rate with 61% of new office users opting for these higher-tier services, which was up from 58% in the prior year quarter. Overall, 37% of Ooma Office users have now subscribed to these higher-tier services.

第二季度，Office Pro 和 Pros Plus 的使用率持續保持健康，61% 的新辦公室用戶選擇了這些更高等級的服務，高於去年同期的 58%。總體而言，目前有 37% 的 Ooma Office 用戶訂閱了這些更高層級的服務。

Our annual exit recurring revenue was $240 million, up 3% year-over-year. Our net dollar subscription retention rate for the quarter was 100% and as compared to 99% in the first quarter.

我們的年度退出經常性收入為2.4億美元，年增3%。本季我們的淨美元訂閱留存率為100%，而第一季為99%。

Now some details on our gross margin. Our subscription and services gross margin for the second quarter was 71.3%, as compared to 72% in the prior year. Product and other gross margin for the second quarter was negative 47% as compared to negative 69% for the same period last year. The year-over-year improvement in product and other gross margin was primarily due to a fully consuming higher cost components we had procured during the pandemic in the first half of the last fiscal year.

現在來詳細了解我們的毛利率。第二季度，我們的訂閱和服務毛利率為 71.3%，而去年同期為 72%。第二季產品及其他毛利率為-47%，去年同期為-69%。產品及其他毛利率的年增率主要得益於我們在上一財年上半年疫情期間採購的高成本零件的充分消耗。

On an overall basis, the total gross margin for Q2 was 62% as compared to 62% in the prior year quarter. The flat overall gross margin in Q2 this year reflects the heavier mix of product revenue versus prior year due to an increase in AirDial installations, which offset the improvement in product gross margin.

整體而言，第二季總毛利率為62%，去年同期為62%。今年第二季整體毛利率持平，反映出產品收入結構較去年同期有所改善，原因是AirDial安裝量增加，抵銷了產品毛利率的提升。

And now some details on operating expenses. Total operating expenses for the second quarter were $35.1 million and down $0.1 million year-over-year. Sales and marketing expenses for the second quarter were $18 million or 27% of total revenue, up 2% year-over-year, primarily driven by higher marketing and channel development activity for AirDial and 2600 hertz.

現在來看看營運費用的一些細節。第二季總營運費用為3,510萬美元，年減10萬美元。第二季銷售和行銷費用為1800萬美元，佔總營收的27%，年增2%，主要得益於AirDial和2600赫茲的行銷和通路開發活動的增加。

Research and development expenses were $11.5 million or 17% of total revenue, down 6% on a year-over-year basis, primarily driven by head count management as we continue to focus on R&D efficiency and operating leverage.

研發費用為 1,150 萬美元，佔總收入的 17%，年減 6%，主要原因是我們持續專注於研發效率和營運槓桿，導致員工數量管理下降。

G&A expenses were $5.6 million or 8% of total revenue for the second quarter compared to $5.4 million for the prior year quarter. The year-over-year increase in G&A expense was primarily due to an increase in personnel-related costs.

第二季一般及行政管理費用為560萬美元，佔總營收的8%，去年同期為540萬美元。一般及行政管理費用較去年同期成長主要由於人員相關成本的增加。

Non-GAAP net income for the second quarter was $6.5 million or diluted earnings per share of $0.23 as compared to $0.15 in the prior year quarter. Adjusted EBITDA for the quarter was a record $7.2 million or 11% of total revenue and grew 27% over the prior year quarter.

第二季非公認會計準則淨利為650萬美元，即每股攤薄收益0.23美元，去年同期為0.15美元。本季調整後息稅折舊攤提前利潤（EBITDA）創歷史新高，達720萬美元，佔總營收的11%，較去年同期成長27%。

We ended the quarter with total cash and investments of $19.6 million in Q2. We generated $6.4 million of operating cash flow and $5 million of free cash flow. On a trailing 12-month basis, we generated $26 million of operating cash, cash flow and $20 million of free cash flow. With strong free cash flow generation, we spent a total of $14.5 million over the last 4 quarters, including $4.5 million in Q2 to buy back stock through a combination of open market purchase and RSU net share settlement.

截至本季末，我們第二季的現金和投資總額為1,960萬美元。我們產生了640萬美元的營運現金流和500萬美元的自由現金流。過去12個月，我們產生了2,600萬美元的營運現金、現金流和2,000萬美元的自由現金流。憑藉強勁的自由現金流，我們在過去四個季度共支出1,450萬美元，其中包括第二季透過公開市場回購和RSU淨股份結算相結合的方式回購股票的450萬美元。

On the head count front, we ended the quarter with 1195 employees and contractors.

在員工人數方面，本季末我們共有 1195 名員工和承包商。

Now I will provide guidance for the third quarter and full fiscal year 2026. Our guidance is on a non-GAAP basis and has been adjusted for expenses such as stock-based compensation, and amortization of intangibles. We expect total revenue for the third quarter of fiscal '26 to be in the range of $67.2 million to $67.9 million, which includes $5.7 million to $6.2 million of product revenue. We expect the third quarter non-GAAP net income to be in the range of $6 million to $6.4 million. Non-GAAP diluted EPS is expected to be between $0.22 to $0.23.

現在，我將提供2026財年第三季及全年業績指引。我們的指引是基於非公認會計準則 (Non-GAAP)，並已根據股票薪資和無形資產攤銷等費用進行了調整。我們預計2026財年第三季總營收將在6,720萬美元至6,790萬美元之間，其中包括570萬美元至620萬美元的產品收入。我們預計第三季非公認會計準則淨利潤將在600萬美元至640萬美元之間。非公認會計準則稀釋每股收益預計在0.22美元至0.23美元之間。

We have assumed 27.9 million weighted average diluted shares outstanding for the third quarter.

我們假設第三季的加權平均稀釋流通股數為 2,790 萬股。

For full fiscal year 2016, we expect total revenue to be in the range of $267 million to $270 million, which is unchanged from our prior guidance. The full year fiscal '26 revenue guidance assumes business subscription and services revenue growth rate of 5% to 6% over fiscal '25, while residential subscription revenue to decline 1% to 2%. In terms of revenue mix for the year, we expect 91% to 92% of total revenue to come from subscription and services revenue and the remainder from products and other revenue.

我們預計2016財年全年總營收將在2.67億美元至2.7億美元之間，與先前的預期持平。 2026財年全年營收預期假設企業訂閱及服務收入較2025財年成長5%至6%，而住宅訂閱收入則下降1%至2%。就全年收入結構而言，我們預計總收入的91%至92%將來自訂閱和服務收入，其餘部分來自產品及其他收入。

In terms of full year fiscal '26 non-GAAP net income, we are raising the guidance and now expect it to be in the range of $24.5 million to $25 million. Updated non-GAAP net income guidance for fiscal '26 includes the impact of approximately $500,000 of tariffs, which is our current best estimate. Based on this guidance range, we estimate our adjusted EBITDA for fiscal '26 to be in the range of $28.5 million to $29 million. We expect the non-GAAP diluted EPS for fiscal '26 to be in the range of $0.87 to $0.89. We have assumed approximately 28.2 million with average diluted shares outstanding for fiscal '26.

就2026財年全年非公認會計準則淨收入而言，我們上調了預期，目前預計在2,450萬美元至2,500萬美元之間。更新後的2026財年非公認會計準則淨收入預期包含約50萬美元關稅的影響，這是我們目前的最佳估計。基於此預期區間，我們預計2026財年的調整後息稅折舊攤提前利潤（EBITDA）將在2,850萬美元至2,900萬美元之間。我們預計2026財年非公認會計準則稀釋每股收益將介於0.87美元至0.89美元之間。我們假設2026財年平均稀釋流通股數約為2820萬股。

In summary, we are pleased with our solid results for the second quarter with a record adjusted EBITDA of $7.2 million, which grew 27% year-over-year and improved our adjusted EBITDA margin to 11%. Free cash flow remains robust with $20 million generated for the past 12 months, along with $14.5 million of share repurchase for the same period. We're excited about growth opportunities in front of us and remain focused on executing to our long-term strategy to achieve profitable growth.

總而言之，我們對第二季穩健的業績感到滿意。調整後EBITDA達到創紀錄的720萬美元，較去年成長27%，調整後EBITDA利潤率提升至11%。自由現金流保持強勁，過去12個月創造了2,000萬美元的現金流，同期還回購了1,450萬美元的股票。我們對未來的成長機會充滿期待，並將繼續專注於執行我們的長期策略，以實現獲利性成長。

I'll now pass it back to Eric for some closing remarks. Eric?

現在我將把發言權交還給 Eric，請他做最後發言。 Eric？

Thanks, Shig. I'm pleased to say we now have a strong first half of our fiscal year behind us and the momentum that goes with that. We're encouraged by our recent growth with AirDial and by the scope of market opportunity we see across our business. Our focus is on executing well, capturing the opportunities before us and in driving improved top and bottom line results.

謝謝，Shig。我很高興地說，我們上半年的財報表現強勁，並保持著良好的發展勢頭。 AirDial 最近的成長以及我們在整個業務中看到的廣闊市場機會令我們感到鼓舞。我們的重點是高效執行，抓住眼前的機遇，並提升營收和利潤。

Thank you, everyone. We'll now take questions.

謝謝大家。現在我們開始提問。

(Operator Instructions) Josh Nichols, B. Riley.

（操作員指示）Josh Nichols，B. Riley。

Good to see the improvement, particularly on the bottom line and the company buying back some stock. I know you mentioned AirDial bookings more than doubled. And with the second half hardware ramp, I presume a lot of that is related to AirDial well. Is it they're not contributing any meaningful percentage to ARR at this point? Or at what point do you think you'd start giving a little bit more granularity on the breakout as that continues to build?

很高興看到業績有所改善，尤其是在獲利方面，以及公司回購了部分股票。我知道您提到 AirDial 的預訂量增加了一倍以上。隨著下半年硬體業務的成長，我推測這很大程度上與 AirDial 有關。是不是說他們目前對 ARR 的貢獻還不夠大？或者，隨著 ARR 的持續成長，您認為什麼時候應該開始更詳細地描述業績突破？

.

。

Yes. I think -- Yes, AirDial is contributing to the growth of ARR and also the ARR as a whole, starting to contribute meaningfully. And if you also look up on the perspective of user has on the business side, which increased by 9,000 quarter-over-quarter. A good chunk of that came from AirDial. And so from these kind of data points, we think that -- especially if you look at a quarter-over-quarter basis, even on an annual basis, AirDial is starting to contribute more to the ARR itself.

是的。我認為——是的，AirDial 正在為 ARR 的成長以及整體 ARR 的成長做出貢獻，並且開始產生有意義的貢獻。如果你也看一下企業用戶的數據，你會發現該季度較上季成長了 9,000 個用戶。其中很大一部分來自 AirDial。因此，從這些數據來看，我們認為——尤其是按季度甚至按年度來看，AirDial 開始對 ARR 本身做出更大的貢獻。

And also having double the booking year-over-year, as you heard it, Josh, that certainly helps to accelerate the growth further into the second half.

而且正如您所聽到的，喬希，預訂量同比增長了一倍，這肯定有助於加速下半年的成長。

And then just to update, I mean you continue to add new partners on the AirDial front as well, too. When you look -- I think in 1Q, you launched with very large market cap telecom company, an aggregator CLEC and previously announced ILEC. Any updates here that you could give us on just like how that ramp is progressing since like the last quarter call update?

然後更新一下，我的意思是，你們也在繼續在 AirDial 方面增加新的合作夥伴。我記得在第一季度，你們與一家市值非常大的電信公司、一家聚合器 CLEC 以及先前宣布的 ILEC 合作。您能不能透露一下，自上個季度以來，你們的合作進展如何？

Yes. Josh, it's pretty exciting to have nearly 35 partners who are reselling AirDial in the marketplace. I think that a pretty strong vote of the strength of our solution as well to the resellers we brought on or signed, I should say, this last quarter are moving from a competitor's product to ours, which is also quite exciting. These resellers do take time to ramp. We announced a very important relationship with Comcast early this year.

是的。 Josh，有近35家合作夥伴在市場上轉售AirDial，這真是令人興奮。我認為這對我們解決方案的實力以及我們引入或簽約的經銷商來說都是一個非常有力的證明。上個季度，他們正在從競爭對手的產品轉向我們的產品，這也非常令人興奮。這些經銷商確實需要時間來發展。今年年初，我們宣布與康卡斯特建立了非常重要的合作關係。

We have seen orders now from Comcast, but still, it's slowly moving forward as Comcast works deals and trains its sales teams. I think that the back half of this year, we could see acceleration there.

我們現在已經收到了康卡斯特的訂單，但隨著康卡斯特繼續推進交易並培訓銷售團隊，進展仍然緩慢。我認為今年下半年，我們可能會看到業務加速發展。

T-Mobile has never been stronger with us on AirDial. They are doing a fantastic job. And we are also seeing the CLEC that we announced pretty much this time last year, finally start to ramp with AirDial in a meaningful way. So -- and that's just 3 of the close to 35 resellers we have.

T-Mobile 在 AirDial 上與我們合作後，實力空前強大。他們做得非常出色。我們也看到，我們去年這個時候宣布的 CLEC 終於開始與 AirDial 展開有意義的合作。以上只是我們近 35 家經銷商中的 3 家。

I feel well placed with -- I feel we're well placed with the range of companies we're working with. And I think all of them have plans to grow as we go forward. Our goal is to add a couple every quarter. And my expectation at this time is that we'll have more that we're adding in Q3 and a couple of them could be particularly exciting as well. So more to come, but yes, that's working well for us.

我感覺我們與眾多公司合作，處境良好。我認為所有公司都計劃隨著我們的發展而發展。我們的目標是每季增加幾家公司。我目前的預期是，第三季我們會有更多公司加入，其中一些公司可能會特別令人興奮。所以未來還會有更多公司加入，但沒錯，這對我們來說很有效。

Eric Martinuzzi, Lake Street Capital Markets.

Eric Martinuzzi，Lake Street Capital Markets。

Congratulations as well on the improving profitability of the business. I wanted to talk about where you're pointing that incremental cash flow. Obviously, in Q2, with the, what was, $4.5 million or so on share repurchase program. Is that to say that we're not actively pursuing any M&A opportunities? Or is it just to say that your own shares are the better bargain in the market with that cash flow?

也祝賀公司獲利能力的提升。我想談談您提到的增量現金流。顯然，第二季我們進行了約450萬美元的股票回購計畫。這是否意味著我們沒有積極尋求任何併購機會？還是說，有了這些現金流，你們的股票在市場上比較划算？

It really doesn't say either one of those. We do feel some share buybacks at this current share price in the market are sensible for us. So we are -- have started doing that as about 9 or 12 months ago. But we are always looking for M&A opportunities that fit our criteria. And our criteria are fairly specific.

其實並沒有說哪一種情況。我們確實覺得，在目前的市場股價下進行一些股票回購對我們來說是合理的。所以我們大約在9到12個月前就開始這麼做了。但我們一直在尋找符合我們標準的併購機會。而且我們的標準相當具體。

We don't want to overpay. We're looking for a strategic way to acquire users more than technology. And we're looking for businesses that are small enough in size that they can fit into what we're doing without upsetting our major plans as a company.

我們不想支付過高的價格。我們正在尋找一種策略性的方式來獲取用戶，而不是只依靠技術。我們正在尋找規模足夠小的企業，以便它們可以融入我們的業務，而不會影響我們作為公司的主要計劃。

There are opportunities out there. We're -- from time to time, we have discussions. And we would like to do more almost call them tuck-ins like that as we go forward.

機會是存在的。我們時不時會進行討論。我們希望在未來的發展中能做更多類似這樣的事，或者說，可以稱之為「tuckins」（補充）。

Okay. And then the growth on the business side, it's -- you've got 2 quarters in a row here growth in the core subscription service growth rate on the business side. You're talking about 5% to 6% for the year. Is that just conservatism? Or are we looking at maybe some incremental churn that we need to model for in the back half?

好的。然後是業務方面的成長，核心訂閱服務業務的成長率已經連續兩個季度成長。您說的是全年5%到6%的成長率。這只是保守估計嗎？還是說，我們可能正在考慮下半年需要建模的一些增量客戶流失？

Yes, Eric. So it's not so much about incremental churn. But I think you may notice that we've given a little wide range for Q3 on revenue and also still for the whole year. I think the variability there is just the timing of the AirDial installation going into second half. Now we doubled -- more than doubled the booking, and we continue to ramp up the bookings going into second half.

是的，埃里克。所以，這跟增量客戶流失關係不大。但我想你可能注意到，我們對第三季的收入以及全年收入的預測範圍有點大。我認為，這種變化只是因為AirDial的安裝時間與下半年的時間有關。現在我們的預訂量翻了一番——甚至超過了兩倍，而且下半年的預訂量還會繼續增加。

Sometimes the installation timing because of customer timing on their end, not so much about our readiness to install plays into it. So there's a little bit of conservatism from that perspective, but it's not about the churn that we're expecting.

有時安裝時間取決於客戶的時間安排，而與我們的安裝準備無關。所以從這個角度來看，我們採取了一些保守的做法，但這與我們預期的客戶流失無關。

Pat Walravens, Citizens.

帕特·沃爾拉文斯，公民。

This is Kincaid on for Pat. Super excited to hear about that new largest retail customer that you guys landed. I'd love to hear more about how that deal came about. What was the differentiator. What lets you win that?

我是金凱德，為帕特做報道。非常高興聽到你們獲得了最大的零售客戶。我很想了解更多關於這筆交易是如何達成的。你們的優勢是什麼？是什麼讓你們贏得了這筆交易？

And are we going to start seeing that in the back half of the year? Or what's the time line there?

我們會在今年下半年開始看到這一點嗎？或是具體時間是怎樣的？

Yes. It's an exciting win for us. This is a very large national retailer. This is a company we've talked to for a long time. They went through a number of trials with our solution.

是的。這對我們來說是一次激動人心的勝利。這是一家非常大型的全國性零售商。我們和這家公司已經洽談很久了。他們對我們的解決方案進行了多次試驗。

We actually thought they might sign up in Q1 that moved into Q2. This is a customer we've also won with our partner, T-Mobile, which we're very excited about as well. They played a key role in winning this deal, too. We've done a limited amount of installations with them so far, and we are anticipating installations through the back half of this year. I don't know how fast it will move at this point.

我們原本以為他們可能會在第一季簽約，結果卻拖到了第二季。這是我們和合作夥伴T-Mobile一起贏得的客戶，我們也對此感到非常興奮。他們在贏得這筆交易中也發揮了關鍵作用。到目前為止，我們已經和他們完成了少量的安裝，預計安裝量將在今年下半年完成。目前我還不知道進展會有多快。

But yes, a very big validating win.

但確實，這是一場非常大的驗證性勝利。

And frankly, we hope the first of many more. I mean, there are large business opportunities in the market like this. And with the strength of the partners we have and the increased focus on possible replacement by larger businesses now, we have a whole range of sizes of opportunity in our pipeline, and we're obviously working all of that. But yes, a really nice win. I wish I could say who it was.

坦白說，我們希望這只是眾多合作中的第一步。我的意思是，市場上有很多像這樣的大型商機。憑藉著我們合作夥伴的實力，以及我們越來越關注被更大企業取代的可能性，我們擁有各種規模的機會，顯然我們正在努力抓住這些機會。沒錯，這真是一次很棒的勝利。我真希望我能說出是誰贏了誰。

I can't. But it came together after a lot of validation on their part and a lot of testing of our solution.

我不能。但經過他們大量的驗證和對我們的解決方案的大量測試之後，我們終於達成了一致。

Spectacular. If you can give you a little color on how much -- like you said 3,000 locations, how much revenue are you expecting to drive per location with these installations?

太棒了。能稍微解釋一下嗎？例如您說的3000個地點，您預計透過這些安裝，每個地點能帶來多少收入？

We don't -- we can't answer that for a customer. But we've given guidance to you on what to model for AirDial ARPU and that's around $25 a line per month. And that's a blend of -- across our go-to-market channels and the different pricing we have in them. And I think that's a reasonable number to use for AirDial going forward.

我們無法替客戶回答這個問題。但我們已經提供了關於如何為 AirDial 的 ARPU 建模的指導，其價格約為每條線路每月 25 美元。這個價格是我們各個市場通路以及不同定價策略的綜合結果。我認為，對於 AirDial 未來的發展來說，這是一個合理的價格。

Matthew Harrigan, The Benchmark Company.

馬修·哈里根（Matthew Harrigan），基準公司。

I know but to of an afterthought compared to AirDial, but can you talk a little bit about 2600 hertz and what kind of the organic growth rate there is? I know you introduced a number of new open APIs. And I think when you did the deal, there is some discussion they're trying to get better monetization for [Kazu]. And I know it fits well within your business portfolio, but it necessarily doesn't get as much bandwidth as AirDial perhaps understandably.

我知道，與 AirDial 相比，2600 赫茲似乎有些落後，但您能否談談 2600 赫茲以及它的有機增長率是多少？我知道您引入了一些新的開放 API。我記得在你們達成交易時，有人討論過他們試圖為 Kazu 帶來更好的盈利。我知道它很適合你們的業務組合，但它獲得的頻寬不如 AirDial 那麼大，這可以理解。

Yes. So 2600 Hertz is a wholesale platform and we sell it to companies that want to offer their own solutions in the market. And so our ARPU per user, if you look at that way, is pretty low. But obviously, we're not doing any of the rest of the business to get those users.

是的。 2600 Hertz 是一個批發平台，我們把它賣給那些想在市場上提供自主解決方案的公司。所以，從這個角度來看，我們的每用戶 ARPU 相當低。但顯然，我們不會做任何其他業務來獲取這些用戶。

We are working this year to bring Ooma IP onto the 2600 Hertz platform. And I made some important announcements about that actually in my opening script and comments. The reason for that is that the real strength of 2600 Hertz is its flexibility and its API-based design. But it doesn't have as strong a turnkey applications as we'd like it to have. And by bringing Ooma IP onto it, we are making it a very good turnkey solution as well.

我們今年正在努力將 Ooma IP 引入 2600 Hertz 平台。實際上，我在開場白和評論中已經就此發表了一些重要聲明。原因在於，2600 Hertz 的真正優勢在於其靈活性和基於 API 的設計。但它的交鑰匙應用程式功能不如我們所希望的那樣強大。而透過將 Ooma IP 引進到 2600 Hertz 平台，我們也將其打造為非常優秀的交鑰匙解決方案。

For smaller customers in the market, that's important. For the larger customers in the market, they really care about the flexibility and what they can do with it. And our largest win to date on that platform was ServiceTitan, who uses, in particular, 2600 Hertz as contact center capability and was able to build a number of AI-based applications working with our platform to really create something bespoke to their needs. That's powerful. And our vision for 2600 hertz is to win other large customers like that who will use the platform in that way.

對於市場上規模較小的客戶來說，這一點很重要。對於市場上規模較大的客戶來說，他們真正關心的是靈活性以及他們能用它做什麼。迄今為止，我們在該平台上最大的成功案例是ServiceTitan，他們特別使用了2600 Hertz作為聯絡中心的功能，並能夠與我們的平台協同構建一系列基於人工智慧的應用程序，真正根據他們的需求量身定制產品。這非常強大。我們對2600 Hertz的願景是贏得其他類似的大型客戶，讓他們也以這種方式使用該平台。

I would say this year, by the end of the year, we will have also filled out the boxes in terms of the turnkey solutions, and that will put us in a stronger position for next year for going after the smaller players who care more about that. I think we've added about a handful of customers so far this year on to the platform, but it's also a sale where once you win a customer, it can take many months to have them move their users over or grow with the platform. So we view it more as upside opportunity next year than this year. This year, we are really rounding out the solution.

我想說，到今年年底，我們將完成交鑰匙解決方案的準備工作，這將使我們在明年更有優勢，爭取那些更注重解決方案的小型企業。我認為今年到目前為止，我們已經為平台增加了一些客戶，但這也是一個銷售環節，一旦贏得客戶，可能需要數月時間才能讓他們的用戶轉移過來，或與平台共同發展。因此，我們認為明年比今年更有發展潛力。今年，我們正在真正完善解決方案。

We'll continue to give guidance every quarter on it. And we're super excited for the long term because the traditional platforms and use out there today, BroadSoft, BroadWorks, Metaswitch, others. They were built a long time ago. They don't have all the modern features that that a platform like 2600 hertz can enable. And so we feel there's a real opportunity over the next several years to be the platform in the future.

我們將繼續每季提供相關指引。我們對長期前景充滿期待，因為目前市面上的傳統平台和應用，例如 BroadSoft、BroadWorks、Metaswitch 等，都是很久以前建立的，並不具備像 2600 赫茲這樣的平台所能提供的所有現代功能。因此，我們認為未來幾年，2600 赫茲平台有機會成為未來的平台。

And we know that you have enough on your hands with AirDial in North America. But to the extent that you're getting full demand from Europe, I mean that's really a testament to the efficacy of the product relative to limited alternatives. Are you seeing more of that? And again, I know that's not a priority, but I was just curious.

我們知道你們在北美的AirDial業務已經很忙了。但從你們在歐洲市場的需求來看，這確實證明了該產品相對於其他有限替代方案的有效性。你們會不會看到更多類似的情況？再說一次，我知道這不是你們的優先事項，但我只是好奇。

Today, AirDial is being sold in North America, U.S. and Canada. We would move to other parts of the world if or when we have a large carrier or other entity that can be a lead customer in that market. And we don't have any announcements in that regard today. But that's how we would evolve with it.

目前，AirDial 在北美、美國和加拿大均有銷售。如果我們有大型營運商或其他實體可以成為該市場的主要客戶，我們就會進軍世界其他地區。目前我們還沒有這方面的公告。但這就是我們發展的方向。

Now we are able to achieve a customer like that. We already have Ooma services operating in 32 countries around the world as part of our IWG Regis customer relationships. So we already have a pretty good head start towards enabling a service like AirDial in other countries. But honestly, I don't want to make too much of this because our primary focus still is North America because we just see so much opportunity here.

現在我們終於能夠擁有這樣的客戶了。作為 IWG Regis 客戶關係的一部分，我們的 Ooma 服務已在全球 32 個國家/地區運作。因此，我們在其他國家推出 AirDial 等服務方面已經佔據了相當不錯的先機。但說實話，我不想對此做太多說明，因為我們的主要重點仍然是北美，因為我們在這裡看到了太多機會。

Alinda Li, William Blair.

阿琳達李，威廉布萊爾。

Congrats on the solid quarter and also on the 10-year anniversary. A quick question here. NRR was 100%. Can you give us more color in terms of what drove the 1 point uptick there? And what should we expect NRR to be going forward?

恭喜本季業績穩健，也恭喜公司成立十週年。我有個簡短的問題。 NRR 是 100%。能否詳細介紹一下推動這一個百分點上漲的原因？未來 NRR 的預期如何？

Yes. I think the biggest contributor just overall as we had a better churn quarter over last. And so obviously, last quarter, we saw the impact of the -- what we think is last or the large IWG churn. We don't have that this quarter. And just looking across the other service lines, I think we are, generally speaking, the improved churn quarter.

是的。我認為最大的貢獻者是整體而言，因為我們本季的客戶流失率比上一季有所改善。顯然，上一季我們看到了——我們認為是上一季或大規模IWG客戶流失的影響。本季我們沒有出現這種情況。縱觀其他服務線，我認為我們本季的客戶流失率整體有所改善。

So I think that's the biggest contributor to the better retention rate.

所以我認為這是提高保留率的最大因素。

What's the second part of the question, Alinda? Sorry, I missed it.

問題的第二部分是什麼，阿琳達？抱歉，我沒注意到。

Yes, no worries. The second part was what should we expect NRR to be going forward?

是的，不用擔心。第二部分是，我們應該期待NRR未來會如何發展？

Yes. I think we've been very steady between 99% to 100%. sometime rounds up, sometimes round down kind of a situation. So I think that's a good zone to be in. And I think we -- that's what we think it's going to be.

是的。我認為我們的比率一直穩定在99%到100%之間。有時會向上取整，有時會向下取整。所以我認為這是一個很好的區間。而且我認為——我們預計未來會是這樣的。

And the other question is top line guidance was reiterated, but net income guidance is raised again by around 7.6% at the midpoint. So what are the efficiencies that you're looking to implement or to achieve the bottom line guidance? I know you mentioned also the tax benefit that is helping with the bottom line. Any other efficiencies that we should be aware of?

另一個問題是，營收指引被重申了，但淨利指引在中期再次上調了約7.6%。那麼，您希望實施哪些效率提升措施，或者說，為了實現獲利指引？我知道您也提到了有助於提高獲利的稅收優惠。還有其他我們應該注意的效率提升措施嗎？

Yes. Just to kind of get the tax one out there. So part of the raise for net income, I would say, [$700,000] was related to tax law change that I talked about. It's just that our estimate for tax payment is much lower due to the One Big Beautiful Bill that we already heard about. And -- but a remainder, which is still a meaningful portion of the raise is really seeing the R&D efficiency.

是的。只是想提一下稅收方面。我想說，淨收入增加的部分（70萬美元）與我之前提到的稅法變化有關。只是由於我們已經聽說的“一攬子美麗法案”，我們對納稅額的估計要低得多。但剩下的部分，也就是增加的相當一部分，實際上是用來提高研發效率的。

That's a big part because we more or less see flat R&D or maybe slightly less R&D going into second half. So as we said going into this year, we want to see the R&D leverage that we talked about. So I think that's the biggest driver in addition to the tax benefit.

這很重要，因為我們預計下半年研發支出將基本持平，甚至可能略有下降。正如我們之前提到的，我們希望看到我們之前提到的研發槓桿。所以我認為這是除了稅收優惠之外最大的驅動力。

But also, we've been very prudent about the sales and marketing expense. It's hovering around 27% of revenue. And as we said before, we are very disciplined about customer acquisition costs and making sure that we're putting into the right channel to realize that ROI that we can achieve. So both the sales and marketing efficiency, R&D leverage and the tax, those are three pieces.

但同時，我們對銷售和行銷費用也非常謹慎。目前該費用佔收入的27%左右。正如我們之前所說，我們對客戶獲取成本非常嚴格，並確保將資金投入正確的管道，以實現我們能夠實現的投資回報率。因此，銷售和行銷效率、研發槓桿以及稅收是三個關鍵因素。

(Operator Instructions) Brian Kinstlinger, Alliance Global Partners.

（操作員指示）Brian Kinstlinger，Alliance Global Partners。

This is [Kevin] for Brian. Can you give us a sense on the new business line trends you're seeing with your largest UCaaS customer? And should we expect meaningful growth over the next 12 to 18 months?

我是[Kevin]，Brian。能否介紹一下您最大的UCaaS客戶所看到的新業務線趨勢？未來12到18個月我們是否應該期待它能實現有意義的成長？

If you're referring to IWG Regis, we have rolled out to the countries we're planning to roll out to. And so I think we expect them to be essentially stable we look forward in our outlook.

如果您指的是 IWG Regis，我們已經在計劃推廣的國家/地區推出了該服務。因此，我認為我們預計這些國家的業務將基本保持穩定，我們對未來發展充滿期待。

Ladies and gentlemen, I'm showing no further questions in the queue. I would now like to turn the call back over to Eric for closing remarks.

女士們，先生們，現在隊列中沒有其他問題了。現在我想把節目單交還給艾瑞克，請他做最後發言。

Thank you. Thank you, everyone, for joining us today. It's interesting to put our results in a little bit of longer-term perspective. I think it was a couple of years ago, we did mid-teens, upper teens EBITDA. I think last year, we did $23 million.

謝謝大家！感謝大家今天加入我們。從更長遠的角度來看我們的業績很有意思。我記得幾年前，我們的EBITDA（息稅折舊攤提前利潤）大概在15%到18%之間。去年，我們的EBITDA達到了2,300萬美元。

We've guided this year for around $29 million, Shig, if I'm correct. And we intend to drive EBITDA higher next year. I think we have built a business that has a potential to be highly profitable. And our solutions are well developed, and they're leading in the market. And so as we grow, we can get leverage on a lot of our spending.

Shig，如果我沒記錯的話，我們今年的預期收入約為2900萬美元。我們計劃明年提高EBITDA（息稅折舊攤提前利潤）。我認為我們已經建立了一個具有高獲利潛力的業務。我們的解決方案非常成熟，並且在市場上處於領先地位。因此，隨著我們的發展，我們可以充分利用我們的許多支出。

So it is our plan to continue to drive both growth and bottom line performance and we feel that's -- the combination of those two is what's going to build the most valuable company as we look forward.

因此，我們的計劃是繼續推動成長和底線業績，我們認為，這兩者相結合將打造出我們未來最有價值的公司。

We appreciate your time today. We had a strong first half of the year. And as I said in my opening comments, we're glad to have that momentum as we go into the second half of the year. Thank you, everyone.

感謝您今天抽出時間。我們上半年業績表現強勁。正如我在開場致詞中所說，我們很高興在進入下半年時能夠保持這樣的勢頭。謝謝大家。

Ladies and gentlemen, that concludes today's conference call. Thank you for your participation. You may now disconnect.

女士們，先生們，今天的電話會議到此結束。感謝各位的參與。現在可以掛斷電話了。