One Stop Systems Inc (OSS) 2023 Q3 法說會逐字稿

Good day and thank you for joining us today to discuss one-stop Systems' financial results for the third quarter ended September 30, 2023. With us today are the company's President and Chief Executive Officer, Mike Knowles, and its financial Chief Financial Officer, John Morrison. Following their remarks, we will open the call to your questions.

美好的一天，感謝您今天加入我們討論一站式系統公司截至2023 年9 月30 日的第三季度財務業績。今天與我們在一起的是公司總裁兼首席執行官Mike Knowles 及其財務首席財務官，約翰·莫里森。在他們發表講話後，我們將開始電話詢問您的問題。

Before we conclude this call, I will provide some important information regarding the forward-looking statements made by management. During this call, I would like to remind everyone that the call will be recorded and made available for replay in the Investors section of the company's website.

在結束本次電話會議之前，我將提供一些有關管理層所做的前瞻性聲明的重要資訊。在這次電話會議中，我想提醒大家，電話會議將會被錄音，並可在公司網站的投資人部分重播。

Now I would like to turn the call over to OSS, President and CEO, Mike Knowles. Sir, please go ahead.

現在我想將電話轉給 OSS 總裁兼執行長 Mike Knowles。先生，請繼續。

Thank you, Morgan and good afternoon. Everyone. I successfully completed my first full quarter as CEO, and I'm pleased with the building momentum and confidence in the rugged edge processing market. We're well positioned for future growth at OSS. My engagement with customers and participation in global trade shows over this past quarter reaffirmed our unique position in the robust growth markets driven by artificial intelligence and sensor fusion, particularly in rugged, high-performance compute demand at the edge.

謝謝摩根，下午好。每個人。我成功地完成了作為執行長的第一個完整季度的工作，我對堅固耐用的邊緣處理市場的勢頭和信心感到高興。我們為 OSS 的未來發展做好了充分準備。我在上個季度與客戶的接觸以及對全球貿易展覽的參與再次證實了我們在人工智慧和感測器融合驅動的強勁成長市場中的獨特地位，特別是在邊緣的堅固、高效能運算需求方面。

In many instances OSS is recognized and an expert in the market. And in fact, in October, I participated on a panel at the Aerospace back in Washington, DC, regarding the technical demand for high-performance compute for artificial intelligence application in commercial and defense market.

在許多情況下，OSS 是公認的市場專家。事實上，十月份，我參加了華盛頓特區航空航天中心的一個小組討論，該小組討論了商業和國防市場中人工智慧應用對高效能運算的技術需求。

In Q3, we secured several significant wins across commercial and defense markets. These successes align with our strategy to broaden the number of prime and customer contracts, increase our presence on more platform and pursue multiyear contracts that can boost our pipeline and future revenue.

在第三季度，我們在商業和國防市場取得了幾項重大勝利。這些成功與我們的策略一致，即擴大主要合約和客戶合約的數量，增加我們在更多平台上的影響力，並尋求可以增加我們的管道和未來收入的多年期合約。

These key wins include a liquid-cooled service solution for sonar processing for a foreign Navy submarine class, a follow-on wind and hardware buy for an additional storage system product for the PA, a new contract with an existing defense prime contractor for a new classified platform, a commercial order and win in the dynamic racing industry encompassing our product at this new OSS customer.

這些關鍵勝利包括為外國海軍潛艇級聲納處理提供液冷服務解決方案、為 PA 額外存儲系統產品購買後續風和硬件、與現有國防主承包商簽訂新合同，購買新的分類平台、商業訂單以及在充滿活力的賽車產業中的勝利，包括我們在這個新OSS 客戶處的產品。

The award from the foreign Navy submarine program is especially noteworthy and how it exemplifies the key objectives. We have successfully established a new military customer, a new defense prime and a new international customer while securing a position on a new platform.

外國海軍潛艇計畫的獲獎尤其值得注意，它體現了關鍵目標。我們成功建立了一個新的軍事客戶、一個新的國防主要客戶和一個新的國際客戶，同時在新平台上佔有了一席之地。

We believe this will lead to a multiyear product and support contract, a contract commencing as early as 2024. The sale of cultivated captured includes by our Bressner sales team with support from our OSS team validating Bressner as a channel to market for our SaaS product.

我們相信這將導致一份多年期的產品和支持合同，該合同最早將於2024 年開始。我們的Bressner 銷售團隊將在我們的OSS 團隊的支持下銷售捕獲的養殖產品，從而驗證Bressner 作為我們SaaS產品的市場通路。

In addition to the keywords noted, our teams are actively engaged in multiple proposal and program pursuit. For currently responding to an exclusive opportunity to design, develop, produce and support a ragged edge compute solution for the commercial aerospace market.

除了提到的關鍵字之外，我們的團隊還積極參與多項提案和專案追求。目前獲得了商業航空航太市場設計、開發、生產和支援邊緣運算解決方案的獨家機會。

This effort would add a new product through an existing customer and establish a multiyear contract, so it doesn't engage in two potential exclusive opportunities in the commercial data center market with our latest TCI Express gen five for UP and internally developed UBM software.

這項工作將透過現有客戶添加新產品並建立多年合約，因此它不會利用我們最新的 UP 第五代 TCI Express 和內部開發的 UBM 軟體在商業資料中心市場中獲得兩個潛在的獨家機會。

These efforts would broaden our customer base and provide for a multiyear hardware and software demand opportunity. The team is working to close a large competitive opportunity for design development, production and support for a rugged compute and storage system in autonomous trucking market that would expand our platform's, position in the market and lead to another multiyear demand opportunity.

這些努力將擴大我們的客戶群，並提供多年的硬體和軟體需求機會。該團隊正在努力在自動卡車運輸市場中為堅固的運算和儲存系統提供設計開發、生產和支援方面的巨大競爭機會，這將擴大我們平台的市場地位，並帶來另一個多年的需求機會。

For responding to a competitive opportunity for a ragged edge processing solution for our military classified program. This capture involves a new prime, a new platform and provides a multiyear production and support opportunity.

為了響應我們的軍事機密專案的粗糙邊緣處理解決方案的競爭機會。此次收購涉及新的主要產品、新平台，並提供多年的生產和支援機會。

Also on the defense side, we are well engaged with the potential sole source opportunity for ragged edge processing and storage for a multi vehicle platform support activity. This opportunity would be of the new organization within a branch of the US Armed Forces. Fees represent a sample of the increased activity in pursuit our teams are diligently working for competitive reasons. I haven't provided specific technical information or contract value.

同樣在防禦方面，我們正在充分利用潛在的唯一來源機會，為多車輛平台支援活動提供粗糙邊緣處理和儲存。這個機會將來自美國武裝部隊一個分支內的新組織。費用代表了我們的團隊出於競爭原因而努力增加的活動的一個例子。我沒有提供具體的技術資訊或合約價值。

Looking ahead, we remain committed to expanding our efforts to secure new prime time, their new prime contractor, vehicle platforms and multiyear contracts, both domestically and internationally. Our broad market activity is already increasing the number of customer engagements and requests for information and proposals, bolstering our confidence in our strategy and our ability to grow a robust multi-year pipeline.

展望未來，我們仍致力於擴大努力，以確保國內和國際的新黃金時段、新主承包商、車輛平台和多年合約。我們廣泛的市場活動已經增加了客戶參與度以及資訊和建議請求的數量，增強了我們對我們的策略和發展強大的多年管道的能力的信心。

Financially, our results in Q3 reflect the continuing transition we embarked upon last year to focus more on rugged edge and defense market opportunity. We successfully shifted away from our former low margin media customer.

從財務角度來看，我們第三季的業績反映了我們去年開始的持續轉型，更專注於堅固耐用的邊緣和國防市場機會。我們成功地擺脫了以前的低利潤媒體客戶。

And we're concentrating resources on growth opportunities in edge computing, driven by sensor processing, sensor fusion, artificial intelligence and machine learning. Despite the expected challenges we achieved $13.7 billion in revenue in Q3, while effectively executing our cost containment plan, there's more to discuss. But before I go further, I'd like to turn the call over to our CFO, John Morrison, to provide the financial details for the quarter. John?

在感測器處理、感測器融合、人工智慧和機器學習的推動下，我們正在將資源集中在邊緣運算的成長機會上。儘管面臨預期的挑戰，我們在第三季實現了 137 億美元的收入，同時有效執行了我們的成本控制計劃，但還有更多需要討論的內容。但在進一步討論之前，我想將電話轉給我們的財務長約翰·莫里森 (John Morrison)，以提供本季度的財務詳細資訊。約翰？

Good afternoon, everyone. Thank you for joining us today. Earlier today, we issued a press release with our results for the third quarter ended September 30, 2023. A copy of the release is available in the Investor Relations section of our website at OneStopSystems.com. For the third quarter, we reported consolidated revenue of $13.7 million of the hours that contributed $5.5 million, and Bressner contributed $8.2 million, inclusive of $377,000 of OSS products.

大家下午好。感謝您今天加入我們。今天早些時候，我們發布了一份新聞稿，介紹了截至 2023 年 9 月 30 日的第三季業績。新聞稿的副本可在我們網站 OneStopSystems.com 的投資者關係部分取得。第三季度，我們報告的綜合收入為 1370 萬美元，貢獻了 550 萬美元的小時數，布雷斯納貢獻了 820 萬美元，其中包括 377,000 美元的 OSS 產品。

Quarterly revenue reflects a reduction of $5.1 million or 26.9% compared to the same period in 2022. Approximately $4.3 millions of such reduction was attributable for the loss of our former media customer from who we do not expect for the revenue. The balance of the revenue reduction was associated with delays in certain customer orders for defense applications, lack of revenue from a bankrupt autonomous truck customer as well as a slowdown and general malaise in commercial markets.

與 2022 年同期相比，季度收入減少了 510 萬美元，即 26.9%。其中約 430 萬美元的減少是由於我們失去了前媒體客戶，我們預計不會從該客戶那裡獲得收入。收入減少的其餘部分與某些國防應用客戶訂單的延遲、破產的自動卡車客戶缺乏收入以及商業市場的放緩和普遍萎靡有關。

As most of you are aware (technical difficulty) two segments, OSS, which is located and Brescia, which is located in Munich, Germany. OSS is involved in the design, make and manufacture of high-performance, ruggedized edge processing and storage system and connectivity. Bressner operates as a system integrator for standard and custom all-in-one hardware systems and component. Sales will serve as a channel for OSS products to the European and Middle Eastern markets.

正如你們大多數人都知道的（技術難度）兩個部分，位於德國慕尼黑的 OSS 和位於德國慕尼黑的布雷西亞。 OSS 從事高性能、堅固耐用的邊緣處理和儲存系統以及連接的設計、製造和製造。 Bressner 是一家標準和客製化一體化硬體系統和組件的系統整合商。銷售將作為 OSS 產品進入歐洲和中東市場的管道。

Gross profit in the third quarter decreased to $3.7 million with overall gross margin percentage decreasing 40 basis points to 26.6% due to a higher mix of regional revenues. The gross margin for OSS business improved 1.7%-points to 32.4, which was attributable to the absence of lower margin sales to the customer's former media customer and a higher mix of its rugged edge processing cryo products.

由於區域收入組合增加，第三季毛利下降至 370 萬美元，整體毛利率下降 40 個基點至 26.6%。 OSS 業務的毛利率提高了 1.7 個百分點，達到 32.4，這是由於沒有向客戶的前媒體客戶進行利潤率較低的銷售，以及其堅固耐用的邊緣處理低溫產品的組合增加。

However, the improvements in margin were offset by underutilization and absorption of production fixed costs due to excess capacity resulting from lower revenue. Record gross margin percentage improved 40 basis points to 22.6%, largely due to product mix, selling higher margin, OSS product and having sought after product readily available and sold at a premium.

然而，由於收入下降導致產能過剩，生產固定成本的利用不足和吸收抵消了利潤率的提高。創紀錄的毛利率提高了 40 個基點，達到 22.6%，這主要是由於產品組合、銷售利潤率更高、OSS 產品以及受歡迎的產品易於獲得和溢價銷售。

The company reduced operating expenses by 4.3% to $44.7 million through cost containment efforts implemented in the quarter. This is exclusive of a $2.9 million write-down attributed attributable to an impairment of goodwill resulting from the overall financial performance as compared to plan, our increased focus on the defense industry and revised timing for our forecast of certain revenue opportunities.

透過本季實施的成本控制措施，該公司將營運費用減少了 4.3%，達到 4,470 萬美元。這不包括由於整體財務業績與計劃相比、我們對國防工業的更加關注以及對某些收入機會的預測的修改時間而造成的商譽減值而導致的 290 萬美元減記。

Loss from operations totaled $4 million, compared to income from operations of $163,000 in the same period in 2022. First reduction was predominantly attributable to lower revenue and the write-down associated with the impairment of goodwill.

營運損失總計 400 萬美元，而 2022 年同期營運收入為 163,000 美元。首次減少主要歸因於收入下降以及與商譽減損相關的減記。

Loss before income taxes in Q3 also included a one-time benefit of $418,000, a true attributable to the receipt of funds under the government employee retention credit program. Net loss on a GAAP basis was [zero point] was $3.6 million or $0.18 per share as compared to net income of $133,000 or $0.01 per share in the same period in 2020 to non-GAAP net loss was $597 or a loss of $0.03 per share as compared to non-GAAP net income of $691,000 or $0.03 in the same period of 2022.

第三季的所得稅前虧損還包括 418,000 美元的一次性福利，這確實歸因於政府員工保留信貸計畫下收到的資金。以 GAAP 計算的淨虧損[零點]為 360 萬美元或每股 0.18 美元，而 2020 年同期淨利潤為 133,000 美元或每股 0.01 美元，非 GAAP 淨虧損為 597 美元或每股虧損 0.03 美元相比之下，2022 年同期的非GAAP 淨利為691,000 美元，即0.03 美元。

Adjusted Ebitda , a non-GAAP metric was negative $248,000, a decrease from prior positive adjusted Ebitda of $1 million in the year ago quarter. Each of the non-GAAP metrics to exclude the $2.9 million impairment of goodwill and the $418,000 for the employee retention credit.

調整後 Ebitda（非 GAAP 指標）為負 248,000 美元，比去年同期調整後 Ebitda 為正值 100 萬美元有所下降。每個非 GAAP 指標均排除了 290 萬美元的商譽減損和 418,000 美元的員工保留信貸。

Now moving to our year-to-date metrics, Our highlights is compare, these highlights as compared to the same period in 2022. They include consolidating breadth. Noting consolidated revenue was down 11.9% from $54.2 million to $47.7 million, predominantly due to a decrease of $10.5 million in the revenue.

現在轉向我們今年迄今為止的指標，我們的亮點是比較，這些亮點與 2022 年同期相比。它們包括鞏固廣度。注意到綜合收入從 5,420 萬美元下降 11.9% 至 4,770 萬美元，主要是因為收入減少了 1,050 萬美元。

Gross margin were 28.3% compared to the prior year of 28.5%. Operating expenses, including the charge for goodwill impairment, is up $1.3 million, inclusive of approximately $1.5 million attributable to 2023 CEO transition costs, other income and expense includes $1.7 million for employee retention credits resulted in net other income of profit of $322,000.

毛利率為 28.3%，上年度為 28.5%。包括商譽減損費用在內的營運費用增加了130 萬美元，其中包括2023 年CEO 過渡成本的約150 萬美元，其他收入和費用包括170 萬美元的員工保留積分，導致其他淨利潤收入為322,000美元。

This is compared to net other expense of $106,000 from the prior year. Loss before taxes, excluding the goodwill impairment charge and the employee retention credit benefit was $1.6 million. In contrast to income before taxes of $1.3 million in the prior year. Non-GAAP net loss was $592,000 or $0.03 per share. Adjusted Ebitda , a non-GAAP metric was $768,000.

相比之下，上一年的其他淨支出為 106,000 美元。稅前虧損（不包括商譽減損費用及員工保留信貸福利）為 160 萬美元。相比之下，上一年的稅前收入為 130 萬美元。非 GAAP 淨虧損為 592,000 美元，即每股 0.03 美元。調整後的 Ebitda（非 GAAP 指標）為 768,000 美元。

Now I look at the balance sheet. On October 30, 2023, cash and short-term investments equaled $13.2 million. This combined total represents a decrease of $2.2 million as compared to Q2 2023. This increase is primarily due to an increase in working capital requirements for inventory.

現在我看一下資產負債表。截至 2023 年 10 月 30 日，現金及短期投資總額為 1,320 萬美元。與 2023 年第二季相比，這一合計總額減少了 220 萬美元。這一增長主要是由於庫存營運資金需求的增加。

Inventory continues to increase due to noncancellable nonreturnable or inventory orders placed in previous periods, which are now being delivered. We expect this inventory increase to be released in 2024. As the Company continues to transition and have it can evolve its business from being largely dependent on maybe derive revenue. The company will operationally focus on maximizing growth, gross profit contribution. In the near term this may include accepting lower margin business that incrementally could contribute gross profit but may be inconsistent with our long-term objective of a decrease in consolidated gross margin percentage.

由於以前期間下的不可取消、不可退貨或庫存訂單現在正在交付，庫存持續增加。我們預計庫存增加將於 2024 年釋放。隨著公司繼續轉型，其業務可以從很大程度上依賴收入來發展。公司在營運上將專注於最大化成長、毛利貢獻。在短期內，這可能包括接受利潤率較低的業務，這些業務可以逐漸貢獻毛利，但可能與我們降低綜合毛利率百分比的長期目標不一致。

The objective of this effort is to have sustainable cash flow as the Company bridges our revenue model. Now looking forward to the fourth quarter of 2023, we expect revenue of approximately $13 million. We are witnessing some impact from the defense budget continuing resolution manifests in place funding and awards on a pull forward on sole-source opportunity.

這項努力的目標是在公司建立收入模式的過程中擁有可持續的現金流。現在展望 2023 年第四季度，我們預計營收約為 1,300 萬美元。我們看到國防預算持續決議的一些影響體現在資金和獎勵對單一來源機會的推動。

We could experience further impact going forward as the budget approval continues to be delayed. We also continue to see a commercial slowness for general malaise that has manifested in delayed and or reduced awards. We have not seen signs of overall improvement and do not know when we may be able to see them. We have net will continue to lead our financial overview for the quarter. I would now like to turn the call back over to Mike. Mike?

隨著預算批准繼續推遲，我們可能會受到進一步的影響。我們也繼續看到普遍不適的商業緩慢，這體現在延遲和/或減少的獎勵上。我們還沒有看到整體改善的跡象，也不知道什麼時候才能看到。我們的淨值將繼續引領我們本季的財務概覽。我現在想把電話轉回給麥克。麥克風？

Thank you, John. First quarter we announced the departure of two of those directors have all of the appointment of Debra, like -- and myself and the Board of Directors. We also reconfirmed our commitment to continue the profiling of the board to align with the strategic path and desired skill sets of directors.

謝謝你，約翰。第一季度，我們宣布其中兩名董事離職，其中包括黛布拉（Debra）的所有任命，以及我本人和董事會。我們也重申了我們的承諾，繼續對董事會進行分析，以符合策略路徑和董事所需的技能組合。

As noted in the 8K and earnings release, Domanico, managing member and senior principal Investment capital management has been selected and appointed to serve on the Board effective November 10, 2023. \

正如 8K 和收益發布中所指出的，管理成員兼投資資本管理高級負責人 Domanico 已被選拔並任命為董事會成員，自 2023 年 11 月 10 日起生效。

Mr. Manko has been serving as the managing member and senior principal important capital management and investment funds since 2013. This prior asset management investment banking experience, having served in executive positions at DC fund management, Deutsch Bank and Merrill Lynch and also legal experience having served as Corporate Finance attorney at Skadden, Arps Slate, Meagher & plum.

Manko 先生自2013 年起擔任重要資本管理和投資基金的管理成員和高級負責人。在此之前，Manko 先生曾在DC 基金管理公司、德意志銀行和美林證券擔任高階主管職位，並擁有資產管理投資銀行經驗，並擁有以下法律經驗：曾擔任世達律師事務所 (Skadden)、Arps Slate、Meagher & Plum 律師事務所的企業財務律師。

Mr. Manko also serves as a Director on the Board of Safeguard Scientific and corporate medical system and has previously served as a Director on the Board of creative reality and Wireless Telecom Group. So one subsystem Board has unanimously voted to temporarily increase the size of the board from seven to eight at this time and appoint Mr. Manko to fill the vacancy created by the increase.

Manko 先生還擔任 Safeguard Scientific 和企業醫療系統董事會的董事，此前曾擔任 Creative Reality 和 Wireless Telecom Group 的董事會董事。因此，一個子系統董事會一致投票決定暫時將董事會規模從七人增加到八人，並任命 Manko 先生填補因增加而產生的空缺。

The Board intends to further temporarily increased the size of the Board to no more than nine and had one additional board member with relevant defense experience during the Q4 timeframe. There are candidates actively reviewed in review to fill this position. The director slate to presented for election by the company's shareholders at its 2024 Annual Shareholder Meeting in May will be a seven person slate.

董事會打算在第四季進一步暫時將董事會規模增加至不超過九人，並增加一名具有相關國防經驗的董事會成員。正在積極審查候選人來填補該職位。在 5 月舉行的 2024 年年度股東大會上，公司股東將提交選舉的董事名單為七人。

This director slate will be chosen by the Board prior to filing the 2024 annual meeting proxy. We are adding the additional Board members at this time to take advantage of the unique skill expertise and fresh perspective that these individuals will bring. Aligned with our pursuit of greater defense revenues, which many times include classified programs. I am pleased to announce that we recently received our site facility clearance. This is key to our strategy and now clears the way for us to address additional market opportunities in the classified space.

該董事名單將由董事會在提交 2024 年年度會議委託書之前選出。我們目前正在增加額外的董事會成員，以利用這些人帶來的獨特技能專業知識和新鮮視角。與我們追求更大的國防收入一致，其中很多時候包括機密項目。我很高興地宣布，我們最近收到了現場設施許可。這是我們策略的關鍵，現在為我們解決機密領域的額外市場機會掃清了道路。

In addition to all the opportunities and engagements I shared earlier on the call, we continue to increase our market engagement exposure through participation in several industry events for both commercial and defense markets as we broadly disseminate OSS unique messaging and moving to identify opportunities and expand our pipeline.

除了我之前在電話會議上分享的所有機會和參與之外，我們還透過參與商業和國防市場的多項行業活動，繼續增加我們的市場參與曝光度，因為我們廣泛傳播OSS 獨特的信息，並努力尋找機會並擴大我們的業務範圍。管道。

In mid-September, we showcased our specialized high-performance AI computing solution at defense and security equipment International, also known as DSCI. The tradeshow held in London is the world's largest land sea and air biannual Defense and Security acquisition.

9 月中旬，我們在國際國防安全設備展（也稱為 DSCI）上展示了我們專業的高效能 AI 運算解決方案。在倫敦舉行的貿易展是世界上最大的陸地、海洋和空中一年兩次的國防與安全採購展。

The team and I attended the event at the XL London Exhibition Center, where we display our full line of rugged edge processing products for AI. sensor processing and sensor fusion applications. For IGO, our flagship drug in supercomputing edge processor won Best in Show for our three USDS server.

我和我的團隊參加了在 XL 倫敦展覽中心舉行的活動，我們在那裡展示了用於 AI 的全系列堅固耐用的邊緣處理產品。感測器處理和感測器融合應用。對於 IGO，我們的超級運算邊緣處理器旗艦藥物為我們的三台 USDS 伺服器贏得了最佳展示獎。

Certainly, the minority products received the vast amount of NGLs with the largest dependents to show a team. We are able to engage with military prime contractors and serve customers from multiple countries around the world, expanding from our primarily focused US market.

當然，少數產品獲得了大量的 NGL，並擁有最大的依賴者來展示團隊。我們能夠與軍事主承包商合作，並為來自世界多個國家的客戶提供服務，從我們主要關注的美國市場擴展。

In addition to solidifying relationships with current customers, we were able to expand our engagement within countries in Asia and Europe and the Middle East We were able to leverage our breadth, our team in these engagements to strengthen our channel to market for our SaaS products and Europe and the Middle East.

除了鞏固與現有客戶的關係外，我們還能夠擴大與亞洲、歐洲和中東國家的合作。我們能夠利用我們的廣度和團隊在這些合作中加強我們的 SaaS 產品和市場管道。歐洲和中東。

Presence continued to do a better job of promoting a higher margin product. Also, it's a temporary we exhibited at A desk. The autonomous vehicle Technology Expo and Conference at the Santa Clara Convention Center, California.

Presence 繼續在推廣更高利潤的產品方面做得更好。另外，這是我們在A桌臨時展出的。自動駕駛汽車技術博覽會和會議在加州聖克拉拉會議中心舉行。

We showcased our latest solutions in autonomous vehicle technology, including radio, as well as ragged edge storage and compute solutions such as EV 4400 and three USDS. We did notice an increased level of interest and activity in the autonomous driving space and received some additional requests for information and proposals. We remain vigilant in this market space and continue to monitor it.

我們展示了自動駕駛汽車技術的最新解決方案，包括無線電，以及 EV 4400 和三個 USDS 等邊緣儲存和運算解決方案。我們確實注意到人們對自動駕駛領域的興趣和活動有所增加，並收到了一些額外的資訊和建議請求。我們對這個市場空間保持警惕並繼續監控。

In October, we showcased our specialized high-performance ruggedized products and solutions at the Association of the United States Army Annual Meeting AUSA show it considers the largest land power, excellent acquisition in North America and had in excess of 40,000 people in attendance.

10 月，我們在美國陸軍協會年會 AUSA 上展示了我們的專業高性能加固產品和解決方案，該年會被認為是北美最大的陸地力量，出色的採購，出席人數超過 40,000 人。

The event was held at the Walter E. Washington Convention Center in Arlington, Virginia. It was clear across all venues of the show that sensor fusion in artificial intelligence for driving the future of Army weapon systems, our display of a rugged line of high-performance compute product from rivals discerning bentonite resonated in relation to the theme the demand presented at the show. As with DSDI, we were able to advance existing efforts and establish new perceived opportunity with new prime and new divisions within the U.S. Army.

該活動在弗吉尼亞州阿靈頓的沃爾特·E·華盛頓會議中心舉行。展會的所有場館都清楚地表明，人工智慧中的感測器融合將推動陸軍武器系統的未來，我們展示的競爭對手的膨潤土堅固耐用的高性能計算產品系列與展會提出的需求主題產生了共鳴。演出。與 DSDI 一樣，我們能夠推進現有工作，並透過美國陸軍內的新主力師和新師建立新的感知機會。

For example, we were able to establish a meeting with the new prime into their business unit PT. and three directors. Outcome of these efforts has led to receipt of our first RFP and a multi-business unit engagement at the customer site in November.

例如，我們能夠在他們的業務部門 PT 中與新的 prime 建立一個會議。和三名董事。這些努力的成果使我們於 11 月收到了第一份 RFP，並在客戶現場進行了多業務部門的參與。

In addition, we established connection with a new major defense prime with key product offerings for the U.S. Army and the armored vehicle market. Building off our success uncertainties in denial, while the DC region we also held an off-site meeting with our important service unit operating classified mission, we're focused on high-performance compute at the rugged edge.

此外，我們還與一家新的主要國防公司建立了聯繫，為美國陸軍和裝甲車市場提供關鍵產品。克服否認中成功的不確定性，在華盛頓地區，我們還與執行機密任務的重要服務單位舉行了場外會議，我們專注於崎嶇邊緣的高效能運算。

We're looking forward to attending the Supercomputing 23 Conference being held in Denver next week. It's the world's largest international conference for high-performance compute. We will be showcasing our latest and greatest with advanced cooling solutions that are ideal for bringing data center class performance to the mobile edge.

我們期待參加下週在丹佛舉行的 Supercomputing 23 Conference。這是世界上最大的高效能運算國際會議。我們將展示我們最新、最出色的先進冷卻解決方案，這些解決方案是將資料中心級效能帶入行動邊緣的理想選擇。

It will incur a lineup of rugged servers, storage accelerated and innovative flash storage rate, some of which use disruptive, technologies such as cold plate directed chip liquid cooling and liquid immersion cooling technology.

它將推出一系列堅固耐用的伺服器、儲存加速和創新的快閃儲存速率，其中一些使用顛覆性技術，例如冷板定向晶片液體冷卻和液體浸沒冷卻技術。

We expect to release more information about this in our new product released in a press release. We're planning to issue next week. Last quarter, we introduced Robert Campbell as our new VP of Sales and Business Development and focus our efforts to increase our market engagement across commercial and defense markets.

我們希望在我們發布的新產品新聞稿中發布更多相關資訊。我們計劃下週發行。上季度，我們任命羅伯特·坎貝爾 (Robert Campbell) 為新任銷售和業務開發副總裁，並專注於提高我們在商業和國防市場的參與度。

We also highlighted the efforts to reimage our pipeline to address probability weighting and tidy up their application of sales force to align with sales and capture execution. Our efforts have proceeded to date as planned.

我們還強調了重新塑造我們的管道以解決機率加權問題並整理銷售人員的應用以與銷售保持一致並捕獲執行的努力。迄今為止，我們的努力已按計劃進行。

We are in the final stages of testing and validating salesforce updates to enhance operations and reporting. We also have been able to complete an initial instantiation of a five year pipeline. So there's still more work to do to mature our pipeline model. We are pleased to see that we have a robust and growing set of opportunities.

我們正處於測試和驗證銷售人員更新以增強營運和報告的最後階段。我們也能夠完成五年管道的初始實例化。因此，要使我們的管道模型成熟，還有更多工作要做。我們很高興看到我們擁有大量且不斷增長的機會。

At this point, we supported unfactored five year pipeline in excess of $900 million efforts, continued to utilize our resources to not only expand our pipeline, but to transition opportunity to achievable high-probability awards with accurate time, we expect, we will continue to see longer time lines characteristic of this market.

至此，我們支持了超過9 億美元的未分解五年管道，繼續利用我們的資源不僅擴大我們的管道，而且以準確的時間將機會轉變為可實現的高機率獎項，我們預計，我們將繼續查看該市場較長時間線的特徵。

So we are seeing near term opportunities where we can intersect platform architecture upgrade. We believe there is continued room for expansion more broadly internationally. We also will be looking to identify and address opportunity in the classified space, leveraging our recently granted facility clearance.

因此，我們看到了可以交叉平台架構升級的近期機會。我們相信，在國際​​上還有更廣泛的擴張空間。我們還將利用我們最近授予的設施許可，尋找並解決機密領域的機會。

We are encouraged that the pipeline opportunities across commercial defense market will go a long way to replace low margin media business deposit growth. Knowing that we'd like to open the call to your questions. Morgan.

我們感到鼓舞的是，商業防務市場的管道機會將在很大程度上取代低利潤的媒體業務存款成長。我們知道我們願意打開電話詢問您的問題。摩根。

(Operator Instructions)

（操作員說明）

Brian Kinstlinger, Alliance Global Partners.

Brian Kinstlinger，聯盟全球合作夥伴。

Hi guys, Thanks for taking my questions on. Is there any way, Mike, to quantify the pipeline and make sure if I heard it in defense today compared to either when you join which I think was a little bit depleted or versus a year ago. I'm just trying to gauge how well you're building pipeline since you've joined?

大家好，感謝您回答我的問題。麥克，有什麼辦法可以量化渠道，並確保我今天是否在防守中聽到了它，與你加入時（我認為有點耗盡）或一年前相比。我只是想評估一下自從您加入以來，您的管道建設情況如何？

Yes, prior announcements have the pipeline structure as of opportunities around $800 million, that's about $850 million. So with some of the additional work in the last quarter with validation and going through, but each of those efforts line-by-line, we're comfortable now that our five plus, five year unfactored pipeline is in excess of $900 million.

是的，先前發布的公告中的機會結構約為 8 億美元，約 8.5 億美元。因此，透過上個季度的一些額外工作進行驗證和完成，但每項工作都是逐行進行的，現在我們對五年多、五年未分解的管道超過 9 億美元感到滿意。

How much of it it's such a big number and as such, it's so far away. How much of that do you think is addressable or biddable, say, through next year?

它有多少，它是一個如此大的數字，因此，它是如此遙遠。您認為到明年，其中有多少是可以解決或可投標的？

Yes, Brian, that when identified when I say a five year plan. So what we do is we build out five years of pipeline opportunity broken out by year. So the sum of those five years is the $900 million. So there are elements of that that are visible in as early as 2023, growing through 2024. So that five years I discussed was really 24 through 28.

是的，布萊恩，當我說五年計劃時確定了這一點。因此，我們所做的就是建立按年細分的五年管道機會。所以這五年的總和就是 9 億美元。因此，其中的一些因素最早在 2023 年就可見，並一直持續到 2024 年。因此，我討論的五年實際上是 24 到 28 年。

And then maybe talk pipeline within defense. But what about for your AI transportable in commercial? And I know you talked about maybe some slower decisions right now on the commercial side, but how do you see that opportunity there in the near term?

然後也許會討論國防內部的管道。但是你的人工智慧在商業領域的可移植性又如何呢？我知道您談到了目前在商業方面可能會做出一些較慢的決定，但您如何看待近期的機會？

So the pipeline that I discussed was across both our commercial and defense markets. So it's all of the AI, transportable, ragged edge processing capabilities and products that we're doing. I don't have the percentage mix between commercial and defense side here with me, it's probably fairly close to 50-50, based on the last time I scan through.

因此，我討論的管道涵蓋了我們的商業和國防市場。所以這就是我們正在做的所有人工智慧、可移動、邊緣處理能力和產品。我這裡沒有商業和國防方面的百分比組合，根據我上次瀏覽的情況，它可能相當接近 50-50。

And then the second part of your question again, Brian,

然後你問題的第二部分又來了，布萊恩，

You know that we was it was going to be just on, I guess now you've been there a full quarter as you evaluated your business. Is there any investments you think are necessary to vet to fill visible holes that you think are necessary to help you return to growth?

您知道我們即將開始，我想現在您在評估您的業務時已經待了整整一個季​​度了。您是否認為有必要審查哪些投資來填補您認為有助於恢復成長的明顯漏洞？

Yeah. So as I mentioned earlier, with the of the engagements, the number increase engagements are going. And I also mentioned the need to mark a broad opportunity internationally, one of the areas we'll be looking to augment and invest, though will be to kind of continue to build out our sales team.

是的。正如我之前提到的，隨著業務量的增加，業務量正在增加。我還提到需要在國際上尋找廣泛的機會，這是我們將尋求擴大和投資的領域之一，儘管這將是繼續建立我們的銷售團隊。

So we can get to capturing and executing against that resources against that $900 billion pipeline. So we need the resources to help execute and convert that from pipeline into actionable, capable programs and elements that we can get. And then our product lines, as I mentioned, we released riser recently starting to do now is just kind of So three USDS. has been strong. So from a product perspective, we're in a good place right now.

因此，我們可以針對 9000 億美元的管道捕獲並執行這些資源。因此，我們需要資源來幫助執行並將其從管道轉換為我們可以獲得的可操作的、有能力的程序和元素。然後我們的產品線，正如我所提到的，我們最近發布了立管，現在開始做的就是三美元。一直很強。所以從產品的角度來看，我們現在處於一個很好的位置。

We will be making investments in 2024 as we look to the next generation of our product lines. So we continue to stay at the front end of the market in general in terms of technology. And then as I had mentioned, I think it was last earnings call. We'll be looking to augment the team.

我們將在 2024 年進行投資，並著眼於下一代產品線。所以我們在技術方面整體上繼續保持在市場的前端。正如我所提到的，我認為這是最後一次財報電話會議。我們將尋求擴充團隊。

We're starting to get more discrete defense contract now. So we'll look to augment the team with some contract support, probably part-time start. And then also we will you'll hear us talk about adding some additional program management support, to support running the programs as we as we win them and also to support our capture of these bigger broader s

我們現在開始獲得更多離散的國防合約。因此，我們將尋求透過一些合約支援（可能是兼職開始）來增強團隊實力。然後，您還會聽到我們談論添加一些額外的項目管理支持，以支持在我們贏得項目時運行這些項目，並支持我們捕獲這些更大更廣泛的目標

Okay. Last one for me. This one is probably for John, but the core OSS gross margin recovered nicely I assume the T&L Italia Media customer was the major driver there. Today I also heard your comments on potentially taking on some lower-priced or lower-margin business.

好的。最後一張給我。這可能是針對 John 的，但核心 OSS 毛利率恢復得很好，我認為 T&L Italia Media 客戶是那裡的主要驅動力。今天我也聽到了您關於可能承接一些價格較低或利潤率較低的業務的評論。

It can improve the cash flow, even if it's just a little bit show, how should we think about where you are today or just reported in the core OSS gross margin? Should we expect it will be softer in the coming quarters, given your comments or given the mix it's indicative or even stronger as you book new business. Just help us from this new point without that medium customer?

它可以改善現金流，即使只是一點點表演，我們應該如何考慮你今天的位置或只是報告在核心OSS毛利率中？考慮到您的評論或考慮到您預訂新業務時的混合情況，我們是否應該預計未來幾季的情況會更加疲軟，甚至會更加強勁。只是在沒有那個中等客戶的情況下從這個新點幫助我們嗎？

I would at this point, we're thinking it's one we are projecting it's going to be flat and largely because we are dealing with underutilization in our production facility on revenue. We need to get back to more of that in mind of doing about $9 million a quarter from our test site to be have fully utilized and many of these resources are that are involved in the planning, purchasing and management of inventory, as well as, obviously the production for people.

我認為在這一點上，我們認為這是我們預期的成長將持平的情況，很大程度上是因為我們正在處理生產設施收入利用率不足的問題。我們需要更多地考慮到每個季度從我們的測試站點投入約 900 萬美元才能充分利用，其中許多資源涉及庫存的規劃、採購和管理，以及，顯然是為人而生產。

But we have already gone through our reduction in force back in April of 2023. We believe that as we recover these resources will be fully utilized. But until then, and so weighing down on the overall margin for All Access. And obviously then the proportion to the Russian revenue that's increasing is having a significant impact on the consolidated margin percentage.

但我們早在 2023 年 4 月就已經完成了兵力裁減。我們相信，隨著我們的恢復，這些資源將得到充分利用。但在那之前，All Access 的整體利潤率將會受到影響。顯然，俄羅斯收入中不斷增長的比例對綜合利潤率產生了重大影響。

Sorry, I should I be done the one more, call it, $9 million fully utilized and just core OSS SaaS, is that gets you back to approaching 40% gross margin for that segment? Or is that a little too optimistic.

抱歉，我應該再做一次，稱之為，900 萬美元得到充分利用，只是核心 OSS SaaS，這能讓你回到該細分市場接近 40% 的毛利率嗎？或者說這有點過於樂觀了。

Its more of the 35% to 40% range.

更多的是 35% 到 40% 的範圍。

Right. Thank you, guys.

正確的。感謝你們。

Thank you, Brian,

謝謝你，布萊恩，

Thanks Brian

謝謝布萊恩

David Williams, Benchmark.

大衛威廉斯，基準。

Hey, good afternoon. Thanks for letting me ask a question. I guess maybe Mike, on just thinking about the defense industry and it seems to have held up well during this down cycle and seem to suggest spending still remains favorable. I know you touched on this in the in the script, but how does the timing of the budgets in some of the approvals, it feels like you're gaining some really good momentum.

嘿，下午好。謝謝你讓我問一個問題。我想也許是麥克，僅考慮國防工業，它在這個下行週期中似乎表現良好，並且似乎表明支出仍然有利。我知道您在劇本中談到了這一點，但是某些批准中的預算時間安排如何，感覺您正在獲得一些非常好的動力。

But could you just talk maybe a little bit about the hurdles, the difference between here and going into production and just where that timing reflects, we have a better understanding on how we should think these progress through the channel here. Thank you.

但是，您能否談談其中的障礙、這裡與投入生產之間的差異以及時間反映的情況，我們對如何透過這裡的管道思考這些進展有了更好的理解。謝謝。

Yes, sure, David. I think if you're in one part, you're referencing the continuing resolution or the CRF, I have a couple of sole source awards we've been looking to get and to be able to provide the proposals on that have been held up for the CR. So we expect the near term to come across as soon as the CR is a resolved issue. It seems every year now that the defense companies have to deal with.

是的，當然，大衛。我認為，如果您參與其中，您將參考持續決議或 CRF，我有幾個我們一直在尋求獲得的唯一來源獎項，並且能夠提供有關已被擱置的提案對於CR。因此，我們預期一旦 CR 問題解決，近期就會出現。現在似乎每年都有國防公司必須應付。

I think if you look at how is the defense element come alive as we as we build out a lot of the efforts and all we're doing now, we'll see we'll find a home that new procurements in late 2024, 2025 and 2026. However, there are opportunities in there. We're finding where if you can intercept a platform upgrade for a tech refresh cycle, you have opportunity to make that happen a little bit faster and example is the -- for Navy submarine program that I talked about.

我認為，如果你看看國防元素是如何活躍起來的，因為我們付出了很多努力以及我們現在所做的一切，我們會看到我們將在 2024 年末、2025 年找到新採購的家到2026年。然而，其中也蘊含著機會。我們發現，如果你可以攔截技術更新周期的平台升級，你就有機會讓這個過程更快一點，例子就是我談到的海軍潛艦計畫。

They happened to be in a tech refresh cycles that we caught early and we were able to get in there with our technology. And from the time we identify that opportunity through our Bressner unit to contract award with less than a year.

他們恰好處於我們很早就抓住的技術更新周期，並且我們能夠利用我們的技術進入其中。從我們透過我們的 Bressner 部門發現這個機會到合約授予的時間不到一年。

That's probably, you know, a lot of times unheard of in the defense market, but it is doable when you can catch those timeframes. There are a number of prime contractors and vehicles and platforms that we're talking to and the defense services, both in the US and globally, where we have in those discussions and seeing where their technology refresh upgrades are.

你知道，這在國防市場上很多時候可能是聞所未聞的，但當你能趕上這些時間框架時，這是可行的。我們正在與美國和全球的許多主要承包商、車輛和平台以及國防部門進行討論，並了解他們的技術更新升級。

And we've positioned ourselves to be in those competitions and then those discussions for the architecture upgrade and those start to span the years from 24 through 26 and beyond. And then we buy those are ones we would have identified put into our pipeline and now we have assigned a resource into the capture those going forward.

我們已經將自己定​​位為參與這些競賽，然後是架構升級的討論，這些討論開始跨越從 24 到 26 甚至更長的時間。然後我們購買那些我們已經確定放入管道中的產品，現在我們已經分配了資源來捕獲這些產品。

Great. Thanks for that, and continue to say congrats earlier, but just on the extent on the success and acceleration, it seems like you're gaining a lot of interest here and it's great to hear the enthusiasm and see the progress. I guess on that, Mike, given your time in the seat now you've had some time to settle in and look through things.

偉大的。謝謝你，並繼續早些時候表示祝賀，但就成功和加速的程度而言，似乎您在這裡獲得了很多興趣，很高興聽到熱情並看到進展。我想，麥克，考慮到你在座位上的時間，你現在已經有一些時間安頓下來並審視事情了。

Is there anything today that you see that's different than previously either more positive or things that are just different than you had thought. Anything that gives you, I guess, more optimism today than you might have had as you came into the role. Thank you.

今天您看到的有什麼與以前不同的事情嗎？或者是更積極的事情，或者是與您想像的不同的事情。我想，任何能讓你今天比剛入職時更樂觀的事。謝謝。

Yeah, great David. So probably two things first is that we call it a little bit of a new norm around here. As I mentioned, the number of proposals we're working on, I would say there's a heightened level of energy, excitement, activity and sense of urgency in the business to grow and address the opportunities. We're seeing them come in the defense market as we had expected the with the addition of Robert Calvo myself, as we increased focus in doing so.

是的，偉大的大衛。因此，首先可能有兩件事是我們稱之為這裡的一種新規範。正如我所提到的，我們正在處理的提案數量很多，我想說的是，企業發展和抓住機會的活力、興奮、活動和緊迫感都很高。正如我們所預期的那樣，隨著羅伯特·卡爾沃本人的加入，我們看到它們進入了國防市場，因為我們更加關注這樣做。

But we're seeing ample elements inside the commercial market to, that are raising some interest and some activity for us. So I'm excited about the new normal, the pace that we're working at here too, to get after growth, which is why I mentioned the augmenting the team to continue to build upon that momentum.

但我們在商業市場中看到了充足的因素，這引起了我們的一些興趣和一些活動。因此，我對新常態感到興奮，對我們在這裡努力實現成長的步伐感到興奮，這就是為什麼我提到要擴大團隊規模，繼續鞏固這一勢頭。

And I guess maybe another example from the defense side, I had the opportunity to spend a week on the capital and DC interfacing with the Congress, the House Appropriations Committee, the House Armed Services Committee and be able to tell the OSS story. And I was a it was quite enthused to find the how well our story resonated with the opportunity to bring advanced high-performance compute, artificial intelligence, machine learning to the battlefield.

我想也許是國防方面的另一個例子，我有機會在首都和華盛頓特區與國會、眾議院撥款委員會、眾議院軍事委員會接觸一周，並能夠講述 OSS 的故事。我非常熱衷於發現我們的故事與將先進的高效能運算、人工智慧、機器學習帶入戰場的機會產生了多麼好的共鳴。

I mean, you can see given the given what's going on in the world today, the opportunity to build our war fighters, right? Is something that the that resonates in services is resonating through the through the happy and ask and be able to tell our story there and see it resonate so well, again, gives me gives me optimism that we're on a good track and we're going to have support not only from our customers, but our but our government also.

我的意思是，考慮到當今世界正在發生的事情，你可以看到培養我們的戰士的機會，對吧？在服務中引起共鳴的東西是透過快樂和詢問來產生共鳴，能夠在那裡講述我們的故事並看到它產生如此好的共鳴，再次給我帶來樂觀，我們正走在良好的軌道上，我們「我們不僅會得到我們客戶的支持，還會得到我們政府的支持。

Thanks much for the color.

非常感謝你的顏色。

Joe Gomes with NOBLE Capital.

喬·戈麥斯 (Joe Gomes) 與 NOBLE Capital 合作。

Good evening and thanks for taking my questions.

晚上好，感謝您提出我的問題。

Hi Joe Gomes.

嗨喬·戈麥斯。

In your press release, you talk about an overall delay in deployment of the technology as whenever you get some more color on that statement. Is that more just due to the economy or is that potential customers just having you know, concern about applying a leading edge technology? Is there something else going on there? Just wondering if you could add a little more color to that.

在您的新聞稿中，您談到了技術部署的整體延遲，每當您對該聲明有更多的了解時。這更多是由於經濟原因還是潛在客戶只是讓您知道、擔心應用程式領先的技術？還有其他事情發生嗎？只是想知道你是否可以為此添加更多顏色。

Yes, Joanne, I think you know, we've talked earlier that in the statements about the kind of the general malaise in the commercial market, the foreseen the defense market move out short of the continuing resolution effect. On the commercial market side, I would say absolutely not the slow adoption of the technology.

是的，喬安妮，我想你知道，我們之前已經討論過，在關於商業市場普遍不適的聲明中，預計的國防市場將達不到持續解決效應。在商業市場方面，我想說絕對不是技術的緩慢採用。

There is a from the technical engineers and the applications there. Plenty of interesting discussion going on about how to move forward and utilize the benefits of the compute and artificial intelligence, machine learning, get it out to the edge.

有來自技術工程師和應用程式的資訊。關於如何向前發展並利用計算和人工智慧、機器學習的優勢，將其發揮到極致，正在進行大量有趣的討論。

The blade really comes along when you're trying to convert into getting a request for proposal and a funded program out the door to make a purchase in a buy. And what we've seen there is the kind of just general tendency to not have a sense of urgency to make it happen this month.

當您試圖轉變為獲得提案請求和資助計劃以進行購買時，刀片確實會出現。我們所看到的是，人們普遍沒有緊迫感來實現這個月的目標。

It's okay. If it happens next month and next quarter, we don't see people or companies or effort kind of looking to push things out by years, but there's just been kind of a malaise and general ability to wait or delay another month or quarter to for things to align that that makes sense.

沒關係。如果這種情況發生在下個月和下個季度，我們不會看到人們或公司或努力將事情推遲數年，但只是存在某種不適和普遍的能力，等待或推遲一個月或一個季度才能完成使有意義的事物保持一致。

Okay. And then last quarter, you talked about you thought somewhere in the nature of $5 million to $6 millions of defense work have been pushed out to 2024 has that number grown since then?

好的。上個季度，您談到您認為 500 萬至 600 萬美元的國防工程已被推遲到 2024 年，此後這個數字是否有所增長？

It will be about that number. We'll see how Q4 ends but will be in that it won't be that the general range.

大約是這個數字。我們將看到第四季度如何結束，但不會是一般範圍。

Okay. Thank you for that and congrats on getting the security clearance for the facility, again, one of the issues that seems to be a repeating is the difficulty in finding and hiring people with security clearances, just there's a big demand and limited supply it appears. I'm just wondering how you guys are finding that and if that is an issue at all

好的。謝謝您，並祝賀您獲得該設施的安全許可，再次，似乎重複出現的問題之一是很難找到和僱用具有安全許可的人員，只是需求很大，但供應似乎有限。我只是想知道你們是如何發現這一點的，以及這是否是一個問題

Yeah, Joe, thanks for the question. So I think one of the benefits we have today is the kind of work we're doing right now doesn't require us to have the cleared individuals that would say you might align with the market you're talking about. People with IT staff or SCI clearances of where we're operating here in the near term.

是的，喬，謝謝你的提問。因此，我認為我們今天擁有的好處之一是我們現在正在做的工作不需要我們擁有經過許可的個人，他們會說您可能與您所談論的市場保持一致。擁有 IT 人員或 SCI 許可的人員，了解我們近期在此運作的地點。

\We can get our own people in place of unclear and or the workforce, especially in San Diego or Remo, you buy the remote, you can find that we can find individuals to fill that. And the reason is for right now, the product and the work we're doing, the use of the clearance for us is really more about being able to get inside the understanding of the mission and the application of the technology.

我們可以讓我們自己的人來代替不清楚的和/或勞動力，特別是在聖地亞哥或雷莫，你買了遙控器，你會發現我們可以找到個人來填補這個空缺。原因是現在，我們正在做的產品和工作，對我們來說，使用許可實際上更多的是能夠深入了解任務和技術的應用。

And that allows us to explore the ability to broaden our scope on an effort. We've had two such actually more than two meeting probably in the last few months where myself, Robert, both have clearances, where we've been able to explore more broadly what a platform does and in doing so we were able to come back and identify broader scope of work or effort that OSS could do and could bring with our technology.

這使我們能夠探索擴大我們努力範圍的能力。在過去的幾個月裡，我們已經舉行了兩次這樣的會議，實際上超過兩次，我本人、羅伯特都獲得了許可，我們能夠更廣泛地探索平台的用途，這樣我們就能夠回來並確定OSS 可以做的以及可以利用我們的技術帶來的更廣泛的工作或努力範圍。

And that's where we're going to see the benefit here in the near term over the next couple of quarters. As we build out into the years and established position, use of a of a gift but skip your classified information facility and people declares as I discussed, and they would come up, they would come along, but we'll have some runway to be able to identify that.

這就是我們在接下來的幾個季度中短期內將看到的好處。當我們建立多年並建立地位時，使用一份禮物但跳過您的機密資訊設施，人們如我所討論的那樣聲明，他們會出現，他們會出現，但我們會有一些跑道能夠識別出這一點。

Okay, great. And one more for me, if I may. It historically, you guys have given the quarter and pipeline in terms of the number of opportunities for those million dollars plus and I think at the end of last quarter there were 33 opportunities. Do you have that same number for the end of the third quarter?

好的，太好了。如果可以的話，再給我一份。從歷史上看，你們已經給出了季度和管道中百萬美元以上的機會數量，我認為在上個季度末有 33 個機會。第三季末的數字是否相同？

Joe, we don't have that number in part, we're transitioning from the kind of those prior definitions. We're going to involve our evolve our pipeline information data here to start to give you insight into awards and that will be aligning along some of the themes I mentioned earlier in the earnings call, where we're really two key strategic for us is adding new customers, new primes and then getting on additional platforms and getting multi-year contracts.

喬，我們部分沒有這個數字，我們正在從那些先前的定義過渡。我們將在這裡涉及我們不斷發展的管道資訊數據，以便開始讓您深入了解獎項，這將與我之前在財報電話會議中提到的一些主題保持一致，對我們來說，我們真正的兩個關鍵策略是增加新客戶、新客戶，然後進入更多平台並獲得多年合約。

So we'll look to engage across all those elements the way to be able to provide enough information to give you a maybe even a more in-depth sense of how we're doing on the securing, of course.

因此，我們將尋求參與所有這些元素，以便能夠提供足夠的信息，讓您更深入地了解我們在安全方面的工作。

Okay, great. Thank you.

好的，太好了。謝謝。

Thank you, Joe.

謝謝你，喬。

Max Michaels, Lake Street Capital.

馬克斯·邁克爾斯，湖街資本。

Hey, guys. Thanks for taking my questions. And just looking at the slowing and the slowing economy and the churn in Germany, how has this impacted your Outlook on the (inaudible) business.

大家好。感謝您回答我的問題。只要看看德國經濟放緩和客戶流失，這對您對（聽不清楚）業務的展望有何影響。

So to date, we haven't seen a major impact of a slowing the business we were at the end of the quarter and the move, we're seeing some timing or alignments, but we haven't seen cancellation of orders or down tick or booking. There continues to be generally online quarter to quarter. So at this point, we're still seeing them be able to work through. We're through any slowness in Germany.

因此，到目前為止，我們還沒有看到季度末業務放緩的重大影響，我們看到了一些時間表或調整，但我們還沒有看到訂單取消或下降或預訂。每個季度仍然普遍在線。所以在這一點上，我們仍然看到他們能夠解決問題。我們經歷了德國的任何緩慢。

And then last one for me, just given the pushout orders in the economist trucking space or OSS commercial market, maybe what are some areas you can highlight on that that you talked about in the Operating industry buy may be some area, other area in the commercial area owning your sales force (inaudible). Thanks

最後一個對我來說，只是考慮到經濟卡車運輸領域或 OSS 商業市場的推出訂單，也許您可以強調您在運營行業購買中談到的某些領域，可能是某些領域，其他領域擁有您的銷售人員的商業區域（聽不清楚）。謝謝

Yes, Max, As I mentioned two of them in the earnings release there on the commercial side that we're quite excited about, a tumor in the data center space using our four UP expansion chassis. With the with the onslaught of the hyperscale's and others buying large, massive, massive GPUs, GPUs need to go somewhere, in areas where from some niche areas in the data centers where they're looking to manage the utilization of those GPUs and amend them into servers.

是的，Max，正如我在商業方面的收益發布中提到的那樣，我們對此感到非常興奮，這是使用我們的四個 UP 擴展機箱的數據中心空間中的腫瘤。隨著超大規模和其他公司購買大型 GPU 的衝擊，GPU 需要去某個地方，在資料中心的一些利基區域中，他們希望管理這些 GPU 的利用率並對其進行修改進入伺服器。

There's inertia, which in a couple of companies were finding some and some good traction with. So we see that as a nice area for us to go and work through.

其中存在惰性，在一些公司中發現了一些良好的吸引力。所以我們認為這是一個值得我們去探索和研究的好領域。

In addition, I mentioned the multi-year contract that we're working to finalize here in the commercial aerospace market where we may be able to bring some edge processing into that market. So we'll be looking to provide more insight on both of those efforts. We see those as potentially good wins on the commercial side.

此外，我還提到了我們正在努力在商業航空航太市場敲定的多年期合同，我們也許能夠將一些邊緣處理帶入該市場。因此，我們將尋求對這兩項工作提供更多見解。我們認為這些在商業方面可能是良好的勝利。

And then as I mentioned, we are working on RFP now for at times trucking. We're staying vigilant that market. You know, it's had a lot of promise has had some slowing. So I use that cautious optimism as we continue to refine. We work through these.

正如我所提到的，我們現在正在為卡車運輸制定 RFP。我們對該市場保持警惕。你知道，它曾經有很多希望，但現在卻有些放緩。因此，當我們繼續完善時，我會保持謹慎的樂觀態度。我們透過這些工作。

Luckily for us, the design and efforts and solutions we use for autonomous trucking are the same ones we use them and a lot of the defense work. So we're not having to invest special product development or anything that market.

對我們來說幸運的是，我們用於自動卡車運輸的設計、努力和解決方案與我們使用的設計、努力和解決方案以及許多防禦工作相同。因此，我們不必投資特殊產品開發或任何行銷。

So we can be quick to respond. And if anything, we're finding a lot of the work we're doing in defense market, creates a more flexibility in our offerings for their autonomous truck market. So we'll continue to monitor them. But we are cautious optimism on that right.

這樣我們就可以快速做出反應。如果有什麼不同的話，那就是我們在國防市場所做的大量工作，為我們為自動卡車市場提供的產品創造了更大的靈活性。所以我們會繼續關注他們。但我們對此持謹慎樂觀態度。

Alright Thanks Guys.

好的，謝謝大家。

At this time, we have no further questions. I'd like to turn the conference back to our speakers for any closing remarks.

目前，我們沒有其他問題了。我想請我們的發言人發表閉幕詞。

Morgan, thanks, thanks for that and the We look forward to speaking with you again when we report in March, and we hope everybody has a great day.

摩根，謝謝，謝謝您的發言，我們期待在三月的報導中再次與您交談，我們希望每個人都有美好的一天。

Thank you.

謝謝。

Now before we conclude today's call, I would like to provide the company's safe harbor statement that includes important cautions regarding forward-looking statements made during today's call. One Stop Systems cautions you that statements in the presentation that are not a description of historical facts are forward-looking statements.

在我們結束今天的電話會議之前，我想提供該公司的安全港聲明，其中包括有關今天電話會議期間做出的前瞻性陳述的重要警告。一站式系統公司提醒您，簡報中非歷史事實描述的陳述屬於前瞻性陳述。

These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, for example, those regarding the Company's expectations for revenue growth generated by new products, future changes to its business objectives and members of management and the board, design wins and M&A activity amongst other things.

這些陳述是基於公司當前的信念和期望。例如，此類前瞻性陳述包括有關公司對新產品產生的收入成長的預期、其業務目標以及管理層和董事會成員的未來變化、設計獲勝和併購活動等的前瞻性陳述。

The inclusion of such forward-looking statements and others should not be regarded as a representation by OSS that any of its plans will be achieved. Actual results may differ from those set forth in the presentation.

包含此類前瞻性陳述和其他陳述不應被視為 OSS 表示其任何計劃將會實現。實際結果可能與演示中提出的結果有所不同。

Due to the risks and uncertainties inherent in our business, including without limitation, the market for our products is developing and may not develop as we expect. Military conflicts, global pandemics or other disasters or public health concerns and economic instability in regions of the world where we have operations, customers or source material or sell products may affect such market.

由於我們業務固有的風險和不確定性（包括但不限於），我們產品的市場正在發展，但可能不會按我們的預期發展。我們有業務、客戶或採購材料或銷售產品的世界地區的軍事衝突、全球流行病或其他災難或公共衛生問題和經濟不穩定可能會影響該市場。

Our operating results could be negatively impacted by inflationary pressures, supply chain constraints, increased interest rates, US government, continuing resolution CR or other economic conditions. Our operating results may fluctuate significantly, which would make our future operating results difficult to predict and could cause operating results to fall below expectations or guidance.

我們的經營績效可能會受到通膨壓力、供應鏈限制、利率上升、美國政府、持續解決企業責任或其他經濟狀況的負面影響。我們的經營業績可能會大幅波動，這將使我們未來的經營業績難以預測，並可能導致經營業績低於預期或指引。

If we are unable to offset anticipated future decreases in revenue in our media and entertainment space with other business, our operating financial results may be adversely affected. Our ability to successfully integrate the operation systems, technologies, product offerings and personnel with acquired companies. If any may prove difficult and adversely affect our financial results.

如果我們無法透過其他業務抵銷媒體和娛樂領域未來收入的預期下降，我們的經營財務表現可能會受到不利影響。我們有能力成功整合被收購公司的作業系統、技術、產品和人員。如果有的話可能會很困難並對我們的財務表現產生不利影響。

Our products are subject to competition, including competition from the customers to whom we may sell and competitive pressures from new and existing companies, may harm our business sales, growth rates and market share.

我們的產品面臨競爭，包括我們可能銷售的客戶的競爭以及來自新公司和現有公司的競爭壓力，可能會損害我們的業務銷售、成長率和市場份額。

Our future success depends on our abilities to develop and successfully introduce new and enhanced products that meet the needs of our customers. The likelihood of our design proposals becoming design wins is uncertain and revenue may never be realized.

我們未來的成功取決於我們開發和成功推出滿足客戶需求的新產品和增強型產品的能力。我們的設計方案成為設計勝利的可能性是不確定的，收入可能永遠不會實現。

Our products fulfill specialized needs and functions within the technology industry. And such needs or functions may become unnecessary or the characteristics of such needs and functions may shift in such a way as to cause our products to no longer fulfill such needs or functions.

我們的產品滿足科技產業內的特殊需求和功能。而此類需求或功能可能變得不必要，或此類需求和功能的特徵可能會發生變化，導致我們的產品不再滿足此類需求或功能。

New entrants into our market may harm our competitive position. We rely on the limited number of suppliers to support a manufacture design process. And if we cannot protect our proprietary design rights and intellectual property rights. Our competitive position could be harmed or we could incur significant expenses to enforce our rights.

新進入我們市場的人可能會損害我們的競爭地位。我們依賴有限數量的供應商來支援製造設計流程。如果我們不能保護我們的專有設計權和智慧財產權。我們的競爭地位可能會受到損害，或者我們可能會花費大量費用來維護我們的權利。

Our international sales and operations subject us to additional risks that can adversely affect our operating results and financial condition. We may not be able to accurately report our financial results and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission, SEC, including under the heading Risk Factors in our annual report on Form 10K and any subsequent filings with the SEC.

我們的國際銷售和營運使我們面臨額外的風險，可能對我們的經營業績和財務狀況產生不利影響。我們可能無法準確報告我們的財務表現以及我們先前的新聞稿和向美國證券交易委員會(SEC) 提交的文件中所述的其他風險，包括我們10K 表格年度報告和任何後續文件中的風險因素標題下的情況與美國證券交易委員會。

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this conference call, and we undertake no obligation to revise or update this information to reflect events or circumstances after this date hereof.

請注意，不要過度依賴這些前瞻性陳述，這些陳述僅代表本次電話會議之日的情況，我們不承擔修改或更新此資訊以反映此日期之後發生的事件或情況的義務。

All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995.

所有前瞻性陳述均受此警告性聲明的約束，該聲明是根據 1995 年《私人證券訴訟改革法》的安全港條款作出的。

Before we end today's conference, I would like to remind everyone that this call will be available for replay starting later this evening through November 23, please refer to the Company's press release for dial-in and replay instructions available via the company's website at, ir.one,stopsystems.com. Thank you for joining us today. This concludes our conference. You may now disconnect.

在今天的會議結束之前，我想提醒大家，本次電話會議將於今晚晚些時候至11 月23 日期間進行重播，請參閱公司新聞稿，了解可透過公司網站取得的撥入和重播說明，網址為：ir .one，stopsystems.com。感謝您今天加入我們。我們的會議到此結束。您現在可以斷開連線。