Smith Micro Software Inc (SMSI) 2025 Q1 法說會逐字稿

Good day and welcome to the Smith Micro first quarter 2025 earnings conference call. All participants will be in listen-only mode. [Operator Instructions].

大家好，歡迎參加 Smith Micro 2025 年第一季財報電話會議。所有參與者將處於只聽模式。[操作員指示]。

Please note this event is being recorded. I would now like to turn the conference over to Charles Messman, Vice President of Marketing. Please go ahead.

請注意，此事件正在被記錄。現在我想將會議交給行銷副總裁查爾斯·梅斯曼 (Charles Messman)。請繼續。

Thank you, operator, and good afternoon, everyone. We appreciate you joining us today to discuss Smith Microsoftware financial results for the first quarter ended March 30, 2025.

謝謝接線員，大家下午好。感謝您今天加入我們，討論截至 2025 年 3 月 30 日的第一季 Smith Microsoftware 財務表現。

By now you should have received a copy of the press release with the financial results. If you do not have a copy and would like one, please visit the investor relations section of our website at www.smithmker.com.

現在您應該已經收到了一份包含財務結果的新聞稿副本。如果您沒有副本但想要一份，請訪問我們網站的投資者關係部分：www.smithmker.com。

On today's call we have William Smith, our Chairman of the board, President and Chief Executive Officer. And James Kempton, our Chief Financial Officer.

今天的電話會議由我們的董事會主席、總裁兼執行長威廉史密斯主持。還有我們的財務長詹姆斯肯普頓 (James Kempton)。

Please note that some of the information you will hear today during today's call discussion consists of forward-looking statements. Including without limitations those regarding the company's future revenue and profitability.

請注意，您在今天的電話討論中聽到的一些資訊包括前瞻性陳述。包括但不限於有關公司未來收入和盈利能力的資訊。

Our plans and expectations, new product development and availability, new and expanded market opportunities, future product deployments, growth by new and existing customers, operating expenses and company cash reserves.

我們的計劃和期望、新產品的開發和可用性、新的和擴大的市場機會、未來的產品部署、新舊客戶的成長、營運費用和公司現金儲備。

Forward-looking statements involve risk and uncertainties which could cause actual results or trends to differ materially from those expressed or implied by our forward-looking statements.

前瞻性陳述涉及風險和不確定性，可能導致實際結果或趨勢與我們的前瞻性陳述所表達或暗示的結果或趨勢有重大差異。

For more information, please refer to the risk factors included in our most recent files Form 10K.

欲了解更多信息，請參閱我們最新的 10K 表格中包含的風險因素。

Smith Mer assumes no obligation to update any forward-looking statements which speak to management's beliefs and assumptions only as of the date they are made.

Smith Mer 不承擔更新任何前瞻性陳述的義務，這些前瞻性陳述僅代表管理層截至作出之日的信念和假設。

I want to point out in our forthcoming prepared remarks we will refer to specific non-gap financial measures. Please refer to the press release disseminated earlier today for a reconciliation of these non-gap financial measures. With that said, I'll turn the call over to Will.

我想指出，在我們即將發表的準備好的演講中，我們將提到具體的非差距財務措施。請參閱今天稍早發布的新聞稿，以了解這些非差距財務措施的調節情況。話雖如此，我會把電話轉給威爾。

Thanks, Charlie. Good afternoon and thank you for joining us today for our first quarter, 2025 conference call. We appreciate your interest.

謝謝，查理。下午好，感謝您今天參加我們的 2025 年第一季電話會議。感謝您的關注。

Throughout the first quarter and to date we have been extremely busy on several fronts, most notably, we have been executing on the new initiatives we discussed on our last call with a keen focus on SafePath OS for kids' phones and senior phones and on our SafePath Kids great plan solution.

整個第一季以及迄今為止，我們在多個方面都非常忙碌，最值得注意的是，我們一直在執行上次電話會議上討論的新舉措，重點關注兒童手機和老年人手機的 SafePath OS 以及我們的 SafePath Kids 偉大計劃解決方案。

We have engaged in extensive discussions with current and prospective mobile operator partners regarding these solutions which align with the operator's core business strengths and objectives selling devices and rate plans and adding subscribers.

我們與現有和潛在的行動營運商合作夥伴就這些解決方案進行了廣泛的討論，這些解決方案符合營運商的核心業務優勢和目標，即銷售設備和資費計劃以及增加用戶。

Our focus on SafePath OS for kids and senior phones and on our SafePath Kids great plan solution has also broadened our reach into the carriers' organizations which we believe will position us to be more strategically aligned with their long-term vision.

我們專注於兒童和老年人手機的 SafePath 作業系統以及 SafePath Kids 卓越計畫解決方案，這也擴大了我們在營運商組織的影響力，我們相信這將使我們在策略上與他們的長期願景更加一致。

I remain very confident about where we stand today and I am pleased with the reception we are getting in the market. I am optimistic about closing new customer deals and expanding agreements with our current customer base in the coming weeks and months for our new and expanded offerings.

我對我們目前的狀況仍然充滿信心，並且對我們在市場上受到的歡迎感到滿意。我對在未來幾週和幾個月內與新客戶達成交易以及擴大與現有客戶群的協議並推出新的和擴展的產品感到樂觀。

It is an exciting time for us here at Smith Micro. As we've seen over the years, the process of selling, contracting, and launching new offerings with global operators can take longer than we would like, given the size and complexity of our customer organizations.

對我們 Smith Micro 來說，這是一個令人興奮的時刻。正如我們多年來所看到的，考慮到客戶組織的規模和複雜性，與全球營運商銷售、簽約和推出新產品的過程可能比我們預期的要長。

But we are making good steady progress. I am as confident as ever that we will get them to the finish line, building on the strong global demand for digital family safety solutions that we believe present immense opportunities for Smith Micro and our shareholders.

但我們正在取得穩步進展。我一如既往地有信心，我們將帶領他們到達終點，基於全球對數位家庭安全解決方案的強勁需求，我們相信這為 Smith Micro 和我們的股東帶來了巨大的機會。

As excited as we are about delivering our latest solutions, we also continue to keep an eye on the future with the continual focus on innovation. Our safe path platform product roadmap is aimed at ensuring that we and our operator customers will be able to offer cutting edge solutions that families want.

我們對提供最新解決方案感到非常興奮，同時也將持續專注於未來，並持續專注於創新。我們的安全路徑平台產品路線圖旨在確保我們和我們的營運商客戶能夠提供家庭想要的尖端解決方案。

Our latest round of development efforts will culminate in the release of Safe Path 8, the next generation of our SafeP Path platform.

我們最新一輪的開發工作將最終發布 Safe Path 8，這是我們的下一代 SafeP Path 平台。

This upgrade will introduce an AI centric set of features and capabilities that will enhance our platform to better serve our markets and elevate our core solution to a new level of performance. Later in the call, I will provide more detail on SafePath 8 as well as updates on some of our key customers and opportunities.

此次升級將引入一套以人工智慧為中心的功能和能力，這將增強我們的平台，更好地服務我們的市場，並將我們的核心解決方案提升到一個新的性能水平。在稍後的電話會議中，我將提供有關 SafePath 8 的更多詳細資訊以及一些主要客戶和機會的最新資訊。

But first, let's go ahead and turn the call over to James to discuss our financial results. James.

但首先，讓我們繼續將電話轉給詹姆斯，討論我們的財務結果。詹姆斯。

Thanks Will and good afternoon, everyone. I'll now be covering the financial results for the first quarter of 2025.

謝謝威爾，大家下午好。我現在將介紹 2025 年第一季的財務表現。

During the first quarter, we recognized revenue of 4.6 million compared to 5.8 million for the same quarter of 2024, a decrease of approximately 20%. When compared to the fourth quarter of 2024, revenue decreased by approximately 300,000 or 7%.

第一季度，我們實現營收 460 萬美元，而 2024 年同期為 580 萬美元，下降了約 20%。與 2024 年第四季相比，收入減少了約 30 萬，即 7%。

During the first quarter of 2025, family safety revenues were 3.8 million, which decreased by approximately 700,000 or 15% compared to the first quarter of the prior year, driven in part by the continued decline in legacy, sprint, safe and found revenue as was expected. Family safety revenues were essentially flat compared to the fourth quarter of 2024.

2025 年第一季度，家庭安全收入為 380 萬美元，與去年同期相比減少了約 70 萬，即 15%，部分原因是預期中的 Legacy、Sprint、Safe 和 Find 收入持續下降。與 2024 年第四季相比，家庭安全收入基本上持平。

During the first quarter of 2025, ComSweet revenue was approximately 700,000, which increased by approximately 100,000 compared to the first quarter of 2024.

2025年第一季度，ComSweet營收約為70萬，與2024年第一季相比增加了約10萬。

Revenue from ComSweet decreased by approximately 400,000 compared to the fourth quarter of 2024 due to a favorable adjustment to revenue recognized during the fourth quarter of 2024.

ComSweet 的收入與 2024 年第四季相比減少了約 40 萬，原因是對 2024 年第四季確認的收入進行了有利調整。

Viewspot revenue was approximately 100,000 for the first quarter of 2025 and declined by approximately 600,000 compared to the first quarter of the prior year.

2025 年第一季 Viewspot 營收約為 10 萬，與去年同期第一季相比下降了約 60 萬。

The decline in vSpot revenues compared to the first quarter of 2024 was primarily due to the end of one of our vSpot contracts last year.

與 2024 年第一季相比，vSpot 營收的下降主要是因為我們去年的 vSpot 合約終止。

vSpot revenues increased nominally compared to the fourth quarter of 2024. In the second quarter of 2025, we are expecting consolidated revenues to be in a range of approximately 4.4 million to 4.8 million.

與 2024 年第四季相比，vSpot 營收名義上有所增加。2025 年第二季度，我們預計綜合收入將在約 440 萬至 480 萬美元之間。

For the first quarter of 2025, gross profit was approximately 3.4 million compared to approximately 3.8 million during the same period as the prior year, a decrease of approximately $400,000 due to the period over period decline in revenues.

2025 年第一季度，毛利約為 340 萬美元，而去年同期約為 380 萬美元，由於同期收入下降，毛利減少約 40 萬美元。

Gross margin was at 73% for the quarter compared to the 66% realized in the first quarter of 2024. The gross profit of 3.4 million in the first quarter of 2025 decreased by approximately 400,000 compared to the gross profit produced in the fourth quarter of 2024, driven primarily by the sequential decrease in revenues.

本季毛利率為 73%，而 2024 年第一季為 66%。2025 年第一季的毛利為 340 萬，與 2024 年第四季的毛利相比減少了約 40 萬，主要原因是收入連續下降。

In the second quarter of 2025, we expect gross margin to be in the range of 72% to 75%.

2025年第二季度，我們預計毛利率將在72%至75%之間。

GAAP operating expenses for the first quarter of 2025 were 8.6 million, a decrease of 26.7 million, or 76% compared to the first quarter of 2024, primarily attributable to the goodwill impairment charge of $24 million recorded in the first quarter of 2024, coupled with the cost reduction activities that we executed last year. And the decline in amortization costs associated with our intangible assets.

2025 年第一季的 GAAP 營運費用為 860 萬美元，與 2024 年第一季相比減少 2,670 萬美元，即 76%，主要歸因於 2024 年第一季記錄的 2,400 萬美元商譽減損費用，加上我們去年執行的成本削減活動。以及與我們的無形資產相關的攤銷成本的下降。

Non-gap operating expenses for the first quarter of 2025 were 6.1 million compared to 8.1 million in the first quarter of 2024, a decrease of approximately 2 million or 24%. Sequentially, non-gap operating expenses increased by approximately 300,000 or 5% from the fourth quarter of 2024.

2025 年第一季的非差距營運費用為 610 萬美元，而 2024 年第一季為 810 萬美元，減少約 200 萬美元，即 24%。與 2024 年第四季相比，非差距營運費用增加了約 30 萬英鎊，即 5%。

We expect second quarter 2025 non-gap operating expenses to decrease by 1% to 4% compared to the first quarter of 2025.

我們預計 2025 年第二季的非差距營運費用將與 2025 年第一季相比下降 1% 至 4%。

The the GAAP net loss for the first quarter of 2025 was $5.2 million or $0.28 lost per share compared to a GAAP net loss of $31 million or $3.28 lost per share in the first quarter of 2024.

2025 年第一季的 GAAP 淨虧損為 520 萬美元或每股虧損 0.28 美元，而 2024 年第一季的 GAAP 淨虧損為 3,100 萬美元或每股虧損 3.28 美元。

The non-gap net loss for the first quarter of 2025 was $2.9 million or a $0.16 loss per share compared to a non-gap net loss of approximately $4.2 million or a $0.45 loss per share in the first quarter of 2024.

2025 年第一季的非缺口淨虧損為 290 萬美元，即每股虧損 0.16 美元，而 2024 年第一季的非缺口淨虧損約為 420 萬美元，即每股虧損 0.45 美元。

Within today's press release, we have provided a reconciliation of our non-gap metrics to the most comparable GAAP metric.

在今天的新聞稿中，我們對非差距指標與最具可比性的 GAAP 指標進行了對帳。

To the first quarter of 2025, the reconciliation includes adjustments for intangible asset amortization of 1.3 million, stock compensation expense of $1.1 million and depreciation expense of approximately $100,000. Partially offset by changes in the fair value of warrants of approximately 100,000.

到 2025 年第一季度，對帳包括 130 萬美元的無形資產攤銷調整、110 萬美元的股票薪酬費用調整和約 10 萬美元的折舊費用調整。部分被認股權證公允價值變動約100,000 所抵銷。

Due to our a cumulative net losses over the past few years, our GAAP tax expense is primarily due to certain state and foreign income taxes. For non-gap purposes, we utilize the 0% tax rate for the first quarter of 2025 and 2024.

由於過去幾年的累積淨虧損，我們的 GAAP 稅費主要來自某些州和外國所得稅。為了實現非差距目的，我們對 2025 年第一季和 2024 年採用 0% 的稅率。

The resulting non-gap tax expense reflects the actual income taxes expense during each period. From a balance sheet perspective, we reported 2.3 million of cash and cash equivalents as of March 30th, 2025.

由此產生的非差距稅費用反映了每個期間的實際所得稅費用。從資產負債表的角度來看，截至 2025 年 3 月 30 日，我們報告的現金和現金等價物為 230 萬美元。

I also wanted to note that as our existing shelf registration is expiring next week, earlier this afternoon we filed a new shelf registration to replace it. The expiring shelf registration originally had 75 million of capacity and still has approximately 65 million of unused capacity.

我還想指出，由於我們現有的擱置註冊將於下周到期，今天下午早些時候我們提交了一份新的擱置註冊來替換它。即將到期的貨架登記原本擁有 7,500 萬的容量，目前仍有約 6,500 萬的未使用容量。

The new shelf registration will have substantially the same terms as the expiring shelf, including 75 million of capacity.

新的貨架註冊將具有與到期貨架基本相同的條款，包括 7500 萬的容量。

This concludes my financial review. Now back to Will.

我的財務審查到此結束。現在回到威爾。

Thanks, James.

謝謝，詹姆斯。

So let's begin with Safe Path 8 and some of the new exciting features that will be included in this upgrade to the platform, both at launch and in the future as we roll out our exciting next generation roadmap.

因此，讓我們從 Safe Path 8 開始，了解此次平台升級中將包含的一些令人興奮的新功能，無論是在發佈時還是在未來我們推出令人興奮的下一代路線圖時。

With Safe Path 8, we will bring the power of AI to every member of the family, enhancing the platform to deliver personalized and proactive protection.

透過 Safe Path 8，我們將把人工智慧的力量帶給家庭的每個成員，增強平台提供個人化和主動保護的能力。

Designed with privacy and peace of mind at its core, Safe Path 8 will seamlessly connect and help families safeguard each generation.

Safe Path 8 以隱私和安心為核心設計，將無縫連接並幫助家庭保護每一代人。

At every stage of life. As we evaluate the ways in which AI can safely offer additional protections and benefits to the individuals and families who use our products. We consider its use according to our AI strategy, which is built on three key pillars.

在人生的每個階段。我們評估人工智慧如何安全地為使用我們產品的個人和家庭提供額外的保護和福利。我們根據建立在三大關鍵支柱之上的人工智慧策略來考慮它的使用。

The AI solutions that we use must be safe. Must be carrier grade. It must be in faithful. With these three pillars in mind, let me discuss further. At Smith Micro, artificial intelligence, AI or machine learning has long helped to enable our product innovation.

我們使用的人工智慧解決方案必須是安全的。必須是運營商級別。必須是忠誠的。考慮到這三大支柱，讓我進一步討論。在 Smith Micro，人工智慧、AI 或機器學習長期以來一直幫助我們實現產品創新。

We applied it to our ComSuite visual voicemail solution using AI models to deliver intelligent features like voice to text transcription and scam call detection.

我們將其應用於我們的 ComSuite 視覺語音郵件解決方案，使用 AI 模型來提供語音到文字轉錄和詐騙電話偵測等智慧功能。

We also leverage AI powered capabilities and features of our existing Safepa solution such as SafePath Drive, which uses advanced machine learning models to detect speeding, sharp turns, hard breaking and crash events. Enhancing real-time family safety on the road.

我們也利用現有 Safepa 解決方案的 AI 功能和特性，例如 SafePath Drive，它使用先進的機器學習模型來偵測超速、急轉彎、急煞車和碰撞事件。增強道路上的即時家庭安全。

With SafePath 8, we will introduce a new set of AI powered features and functionalities to the platform that we believe will provide families with powerful actionable insights they can use to keep each other safe.

透過 SafePath 8，我們將在平台上引入一組新的 AI 特性和功能，我們相信這些特性和功能將為家庭提供強大的可操作見解，他們可以利用這些見解來確保彼此的安全。

Along these lines, SafePath 8 will include social media intelligence. This feature set will provide parents with valuable insights regarding their children's social media usage and notify parents of areas of potential concern.

沿著這些思路，SafePath 8 將包括社群媒體智慧。此功能集將為家長提供有關孩子社交媒體使用情況的寶貴見解，並通知家長可能關注的領域。

Including things like cyberbullying, hate speech, profanity, actually in multiple languages and self-harm. When SafePath detects an area of concern with the child's social media activity, it will automatically notify the parent of what has transpired, empowering parents to have valuable conversations with their children.

包括網路霸凌、仇恨言論、褻瀆（其實是多種語言）和自殘等行為。當 SafePath 偵測到孩子的社群媒體活動有問題時，它會自動通知家長發生了什麼，讓家長能夠與孩子進行有價值的對話。

Keep in mind that these notifications will occur only in connection with the areas of concern and not every online activity. This is where we put AI to work to help parents.

請記住，這些通知僅與關注的領域有關，而不是與所有線上活動有關。這就是我們利用人工智慧來幫助父母的地方。

With SafePath 8, we also plan to introduce a dynamic age aware platform that can adapt to the child's age. Once the parent enters the child's initial age group during setup, SafePath will enter a self-configuring mode and establish recommended age-based settings for the child.

透過 SafePath 8，我們也計劃引進一個可以適應孩子年齡的動態年齡感知平台。一旦父母在設定過程中輸入孩子的初始年齡組，SafePath 將進入自我配置模式並為孩子建立建議的年齡為基礎的設定。

Content filters, time limits, usage of apps and app categories, all are guided by the child's age group based on the recommendations of industry-leading experts. These steps will make onboarding frictionless and personalized for the family. Of course, parents will have the ability to override these recommendations at any time and select settings they feel are most appropriate for their children.

內容過濾器、時間限制、應用程式的使用和應用程式類別均根據行業領先專家的建議，根據兒童的年齡組進行指導。這些措施將使家庭入職過程變得順暢且個人化。當然，父母可以隨時推翻這些建議並選擇他們認為最適合孩子的設定。

Another key enhancement that will be part of the SafePath 8 platform will be the ability to block kids from using AI chatbots and tools, empowering parents to establish the limits they feel are most appropriate for their children.

SafePath 8 平台的另一個重要增強功能是能夠阻止孩子使用人工智慧聊天機器人和工具，讓父母能夠設定他們認為最適合孩子的限制。

One example where parents will benefit from this functionality is while their children are doing homework. Studies have shown that using AI for homework can hinder critical thinking. Where kids rely on external tools instead of engaging in deep internal thinking or putting in the steps to solve a math problem.

舉個例子，當孩子做作業時，父母就可以從這個功能中受益。研究表明，使用人工智慧做作業可能會阻礙批判性思考。孩子們依賴外在工具，而不是進行深入的內在思考或採取步驟來解決數學問題。

Another feature that we plan to include in SafePath 8. That we believe is truly unique will be our family AI assistant. This tool set will use large language models to provide parents with valuable insights from the SafePath platform.

我們計劃在 SafePath 8 中包含的另一個功能。我們相信真正獨特的將成為我們家庭的人工智慧助理。該工具集將使用大型語言模型為父母提供來自 SafePath 平台的寶貴見解。

Most importantly, all of the AI elements we will include in Safe Path 8 will be consistent with the three pillars that I shared as the foundation of our AI strategy.

最重要的是，我們在 Safe Path 8 中包含的所有 AI 元素都將與我所分享的三大作為我們 AI 策略基礎的支柱保持一致。

They will be carrier grade, safe and secure, with strong guard rails in place. They will provide parents with valuable insights to help them keep children safer as they navigate the online world.

它們將達到運營商級別，安全可靠，並配有堅固的護欄。他們將為家長提供寶貴的見解，幫助他們在孩子上網時確保他們的安全。

Additionally, SafePath 8 will include our digital wellness resource website. Which users will be able to access directly from our SafePath app. The digital wellness resources site is a curated collection of online resources aimed at helping families and parents obtain helpful information.

此外，SafePath 8 將包括我們的數位健康資源網站。哪些用戶可以直接從我們的 SafePath 應用程式存取。數位健康資源網站是精選的線上資源集合，旨在幫助家庭和父母獲取有用的資訊。

The site is easy to navigate and organize by topic, so parents and families can jump right to the topic they are most interested in and obtain additional expert information and insight.

該網站易於瀏覽和按主題組織，因此父母和家人可以直接跳到他們最感興趣的主題並獲取額外的專家資訊和見解。

We expect the available resources to expand as we launch the initiative in partnership with carrier partners and content providers with relevant expertise. As excited as we are about our product innovations, we are equally excited about some of the activities we're seeing in the market. Now let's talk about our carrier activity.

我們預計，隨著我們與擁有相關專業知識的營運商合作夥伴和內容提供者合作推出該計劃，可用資源將會增加。我們對我們的產品創新感到興奮，同時我們對市場上看到的一些活動也同樣感到興奮。現在我們來談談我們的承運人活動。

In general, during the past several quarters, I believe we have seen a positive shift in our conversations with our current and prospective customers with respect to our latest solutions and our customers' long-term strategies.

總的來說，在過去幾個季度中，我相信我們在與現有和潛在客戶就我們的最新解決方案和客戶的長期策略進行的對話中看到了積極的變化。

I have been pleased with the expanded reach within our customers' organizations. We believe all of this has been driven by the expansion of our portfolio and is very positive.

我很高興看到我們在客戶組織內的影響力不斷擴大。我們相信，所有這些都是由我們產品組合的擴張所推動的，而且是非常積極的。

With Orange Spain, we remain very excited about the path forward for our Safe Path Kids solution that is the technology supporting Orange Spain's unique two year rate plan.

我們對 Orange Spain 的 Safe Path Kids 解決方案的未來發展感到非常興奮，這是支援 Orange Spain 獨特的兩年費率計劃的技術。

We are working closely together with Orange on some new initiatives planned for back to school time frame, and we'll look forward to sharing future announcements around those coming initiatives.

我們正在與 Orange 密切合作，以製定一些在返校期間推出的新舉措，並期待在未來發布有關這些即將推出的舉措的公告。

We also continue to engage productively with other orange properties throughout Europe, building on the momentum of the 2O launch in Spain.

我們也將繼續與歐洲各地的其他橙色產業進行富有成效的合作，以鞏固在西班牙推出 2O 的勢頭。

We have also received interest from other mobile operators throughout Europe, resulting from the success of our appearance at Mobile World Congress earlier this year and will soon launch new trials with a number of these mobile operators as a result.

由於我們在今年早些時候的世界行動通訊大會上取得了成功，我們也引起了歐洲其他行動營運商的關注，因此我們很快就會與其中一些行動營運商開展新的試驗。

Back here in the US, we continue to work closely with AT&T on new marketing activities related to product updates that will be included in an upcoming release which we believe will expand the available audience for AT&T's secure family, allowing for some different and broader marketing campaigns.

回到美國，我們繼續與 AT&T 密切合作，開展與產品更新相關的新行銷活動，這些更新將包含在即將發布的版本中，我們相信這將擴大 AT&T 安全系列的可用受眾，從而開展一些不同且更廣泛的行銷活動。

Without getting ahead of ourselves of what we can share, we are also engaged on ongoing discussions with regard to the expansion of the SafePath platform.

我們不會超出我們可以分享的內容的範圍，我們也在就 SafePath 平台的擴展進行持續的討論。

We continue to have a very solid and collaborative working relationship with AT&T and hope to have more news to share in the coming quarters.

我們繼續與 AT&T 保持非常穩固的合作關係，並希望在未來幾季分享更多新聞。

With Boost, we remain on track on several ongoing initiatives including marketing initiatives for visual voicemail and Boost Family Garden.

借助 Boost，我們幾個正在進行的計劃仍在繼續進行，包括可視語音郵件和 Boost Family Garden 的行銷計劃。

We are engaged in meaningful discussions with regard to different bundling opportunities as well as our expanded SafePath solutions that we see as a great opportunity for boosts going forward. I believe there is a strong upside with this important partner.

我們正在就不同的捆綁機會以及擴展的 SafePath 解決方案進行有意義的討論，我們認為這是未來提升的絕佳機會。我相信與這個重要的合作夥伴將會帶來巨大的優勢。

As I mentioned on our last call, our partnership with T-Mobile continues to broaden, and we continue to engage meaningfully with key stakeholders around our expanded safe path offerings. I remain bullish about our future prospects for this key customer.

正如我在上次電話會議上提到的，我們與 T-Mobile 的合作夥伴關係不斷擴大，並且我們將繼續與主要利害關係人就擴展的安全路徑產品進行有意義的接觸。我仍然對我們這位重要客戶的未來前景充滿信心。

More broadly, I want to note that we are seeing significant interest in Safe Path OS for both kids and senior phones, as well as with our SafePath Kids great plan solution with operators we currently are not doing business with.

更廣泛地說，我想指出的是，我們看到人們對兒童和老年人手機的 Safe Path OS 產生了濃厚的興趣，以及我們與目前尚未合作的運營商合作推出的 SafePath Kids 優質計劃解決方案。

These innovative products have opened doors for our sales team, and the features and functionality associated with SafePath 8 has further piqued their interest.

這些創新產品為我們的銷售團隊打開了大門，SafePath 8 的功能和功能進一步激發了他們的興趣。

We believe the opportunities with these carriers will enhance our growth prospects. I expect to be able to provide additional color for you regarding these opportunities over the coming quarters.

我們相信與這些營運商的合作機會將增強我們的成長前景。我希望能夠在未來幾季為您提供有關這些機會的更多詳情。

As you can see, we are excited about the activity we're seeing in the market, particularly around our product innovations from SafePath OS for kids and senior phones to SafePath Kids great plan solution and our upcoming launch of SafePath 8 and its future roadmap.

正如您所看到的，我們對市場上看到的活動感到非常興奮，特別是圍繞我們的產品創新，從針對兒童和老年人手機的 SafePath OS 到 SafePath Kids 偉大計劃解決方案以及我們即將推出的 SafePath 8 及其未來路線圖。

We believe that this next generation of SafePath will enable parents to ensure that every child gets an experience automatically tailored to their needs.

我們相信，下一代 SafePath 將使父母確保每個孩子都能獲得根據他們的需求自動客製化的體驗。

From youngsters taking their first digital steps to teenagers navigating the complexities of social media. And for seniors seeking to age in place and enjoy their senior years in a safe and secure manner.

從初次接觸數位科技的年輕人到正在探索複雜社群媒體的青少年。對於希望在原地養老並以安全有保障的方式享受晚年的老年人來說。

Given the opportunities ahead and the innovation that drives us forward, I am optimistic about the company's prospect for a return to growth and profitability. With that Let's turn the call over to the operator for questions.

鑑於未來的機會和推動我們前進的創新，我對公司恢復成長和獲利的前景感到樂觀。好了，讓我們把電話轉給接線生來回答問題。

Operator.

操作員。

We will now begin the question and answer session. To ask a question, [Operator Instructions]. At this time, we will pause momentarily to assemble our roster.

我們現在開始問答環節。要問一個問題，[操作員指示]。此時，我們將暫時暫停以整理我們的名冊。

The first question comes from Scott Searle with ROTH Capital. Please go ahead.

第一個問題來自 ROTH Capital 的 Scott Searle。請繼續。

Hey, good afternoon. Thanks for taking my questions. Exciting to hear some of the new features coming along with SafePath 8.

嘿，下午好。感謝您回答我的問題。很高興聽到 SafePath 8 的一些新功能。

Bill, maybe to dive in, starting with Tuyo, I'm wondering if there are any metrics that you're willing to share in terms of how that's been going so far year-to-date. It's been up and running now for a couple of months. I'm also wondering how you think about that in terms of ultimate success and penetration, what kind of penetration can we get into that youth installed base?

比爾，也許我們可以深入探討一下，從 Tuyo 開始，我想知道您是否願意分享一些指標，以了解今年迄今為止的進展。它已經運行了幾個月了。我還想知道，就最終的成功和滲透率而言，您如何看待這一點，我們可以在年輕人群中獲得什麼樣的滲透率？

Yes, Scott, I think the way to think about is it's off to a strong start.

是的，斯科特，我認為這是一個好的開始。

They're getting some pretty good adoption.

它們得到了相當好的採用。

They think that they will get better adoption as we get into the summer and the back to school period.

他們認為，隨著暑假和開學季的到來，這些產品將會得到更好的採用。

So they actually said. Launching in the, in, right after the 1st year was probably one of the more difficult times to to launch a product like like this, yet they they they still are seeing some very meaningful success and growth.

他們確實這麼說。在第一年之後推出這樣的產品可能是最困難的時期之一，但他們仍然看到了一些非常有意義的成功和成長。

The product itself is being received well.

產品本身很受歡迎。

We are working through different issues that, come up with a new product launch, and we're working in the spirit of teamwork and it's been very positive. So all in all, I would say we're very happy with with what's coming and we think it's going to get even more meaningful as as we as we move forward.

我們正在努力解決不同的問題，推出一款新產品，我們本著團隊合作的精神開展工作，並取得了非常積極的成果。總而言之，我想說我們對即將發生的事情感到非常高興，我們認為隨著我們繼續前進，它將變得更加有意義。

So Bill, maybe to follow up then on Safe Path Kids, it sounds like you're engaged with a number of different operators. I'm wondering if there are any sort of metrics that you're willing to share in terms of the number of engagements, the timing of pilots, and I think previously you've talked about the 3rd quarter potentially being an area or a timeline where we could see some inflection as a lot of these operators target back to school as an opportunity to sell something like SafeA kids.

那麼比爾，也許是為了跟進 Safe Path Kids，聽起來你與許多不同的運營商有合作。我想知道您是否願意分享一些指標，例如參與次數、試點時間等，我想您之前曾談到第三季度可能是一個我們可以看到一些轉折點的領域或時間線，因為許多運營商都將返校作為銷售 SafeA kids 等產品的機會。

Yeah, I think that that still holds true. I wouldn't change anything about what you just said because it is what I said last on our last call, and I would fully want to reiterate that on this call.

是的，我認為這仍然是正確的。我不會改變你剛才說的任何話，因為這是我在上次通話中說的話，我完全希望在這次通話中重申這一點。

We do expect that we have some good opportunities for some meaningful, launches in the 3rd quarter and the 3rd quarter could start. To really show some inflection for all the efforts that we're putting you know into, growing our products, staying, current and pushing the envelope as far as, the capabilities. Look.

我們確實預計，我們將在第三季有一些很好的機會進行一些有意義的發布，並且第三季可能會開始。真正展現出我們為開發產品、維持現狀和突破極限所付出的所有努力。看。

I see this whole push for AI as being yet another meaningful driver for growth.

我認為人工智慧的全面推動將成為另一個有意義的成長動力。

It is being very well received by the operators. They view it as a very positive move on our part, and we want to lead this market, and this is what leaders do. They continually move the product forward and that's what we're doing.

它受到了運營商的熱烈歡迎。他們認為這是我們非常積極的舉措，我們希望引領這個市場，這就是領導者所做的。他們不斷推動產品進步，而這正是我們正在做的事情。

And lastly, if I could, on Safe Path seniors, I'm wondering when we'll start to see the first pilots on that front. Are you starting to get some visibility into that? And then just real quick, conceptually from a pricing standpoint of SafePath 8, how should we be thinking about that? I'm assuming it's a premium, but just kind of wondering what the early thoughts are on that front. Thanks.

最後，如果可以的話，關於「安全路徑」項目，我想知道我們什麼時候會開始看到這方面的第一批試點項目。您是否開始對此有所了解？然後簡單來說，從 SafePath 8 的定價角度來看，我們該如何考慮這個問題？我認為它是一種溢價，但只是有點想知道在這方面的早期想法是什麼。謝謝。

Yeah, let me make sure I cover all the parts of that question. So, first off, as far as the senior fund, we've actually already had our first trial and we're well into the conversation around that product with with that particular carrier.

是的，讓我確保涵蓋了該問題的所有部分。首先，就高級基金而言，我們實際上已經進行了首次試驗，我們正在與特定營運商就該產品進行深入討論。

So, there will be more more to follow. We expect that. The senior version of SafePath OOS will be available this fall and so we're looking for launch show, hopefully in the maybe in four, fourth quarter around the holiday selling season by.

因此，還會有更多內容後續更新。我們期待這一點。SafePath OOS 的高級版本將於今年秋季上市，因此我們期待它的發布，希望是在第四季度，也就是假日銷售季節前後。

Might be a good good time to look for for some movement forward on that front as far as on the SafePath 8 offerings, yes, this is a there are a lot of premium offerings that are part of this as well as other things we've had for some period of time and we are looking to launch. This offering as a premium at a premium price, which will be also beneficial to our overall revenues, and that's something you'll just have to stay tuned for, it's a work in process.

就 SafePath 8 產品而言，現在可能是尋找這方面進展的好時機，是的，這其中有很多高級產品，以及我們已經擁有一段時間的其他產品，我們正在考慮推出。此服務以高價提供，也將有利於我們的整體收入，這是您必須繼續關注的事情，這是一項正在進行的工作。

Great. Thanks so much. I'll get back in the queue.

偉大的。非常感謝。我會回到隊列中。

Thanks.

謝謝。

And your next question comes from Matthew Harrigan with benchmark. Please go ahead.

您的下一個問題來自基準的馬修·哈里根 (Matthew Harrigan)。請繼續。

Thank you.

謝謝。

I guess two questions.

我想問兩個問題。

One was with SafePath 8 and AI and you talked about use of AI for homework and all that.

其中一個是 SafePath 8 和 AI，您談到了使用 AI 進行家庭作業等等。

It feels like you're getting a lot more that's germane to devices beyond smartphones and tablets and all that regulating the social media.

感覺你獲得了更多與智慧型手機和平板電腦以外的設備以及所有管理社交媒體的設備相關的資訊。

Activity, how do you see that as an increasingly important extension and then I guess in the nature of whores a vacuum category and probably you know unmet demand for something like family safety hores the vacuum even more how are guys who are not using you who are kind of fumbling around trying to do something in-house or looking at other alternatives, faring and I know you don't want to be too specific on Verizon, but, what are you seeing in terms of capabilities that do not stem from from Smith Micro. Thanks.

活動，您如何看待這是一個日益重要的擴展，然後我猜想在吸塵器類別的性質中，您可能知道對家庭安全等未滿足的需求，吸塵器的需求更大，那些不使用您的人，他們笨手笨腳地試圖在內部做一些事情或尋找其他替代方案，情況如何，我知道您不想在 Verizon 上說得太笨腳地試圖在內部做一些事情或尋找其他替代方案，情況如何，我知道您不想在Verizon 上說得太重要，就不是源自於 Smith 的功能。謝謝。

Historically, we've always had meaningful business with Verizon, so I would welcome the op the opportunity to do business with them, in the future. Clearly, when you see the kind of development that we're working on with SafePath OS for kids, SafeAOS for seniors, bringing out all these AI features, we're moving the envelope. This is, these are big time development efforts.

從歷史上看，我們一直與 Verizon 保持著有意義的業務往來，因此我歡迎營運商未來有機會與他們開展業務。顯然，當你看到我們為兒童開發的 SafePath OS 和為老年人開發的 SafeAOS，以及所有這些 AI 功能時，你就明白我們正在突破極限。這是，這些都是巨大的開發努力。

This is not for the a sideline business. This is something that is core to what we do and I think as carriers look at this, it makes it just that much more daunting and effort for them to say gee, I guess we'll just go build our own, version of this. That, that's a tough swallow and.

這不是副業。這是我們工作的核心，我認為當營運商看到這一點時，他們會覺得更加艱鉅，也更加努力地說，『我想我們只能去建立我們自己的版本了。 ’那，那真是難以接受。

Everything that we're doing is not going to make it any easier. It's going to be, everything we're doing is making it tougher. And the important part though is, well it's making it tough for those who maybe want to save a little bit and try to do it on their own or whatever, the driver is the important part is for their customers, for the families that they want to embrace, that they want to pull into the tent with them.

我們所做的一切都不會讓事情變得更容易。我們所做的一切都會使事情變得更加艱難。但重要的是，這讓那些想要省一點錢並嘗試自己做這件事的人很難，但對於司機來說，重要的是對他們的客戶，對他們想要擁抱的家庭，對他們想要和他們一起進帳篷的家庭。

The families want these features, being a parent in the digital age, I'm a little older and I didn't have to experience it, but I would think it's pretty scary and to be able to use the power of AI as an assistant, as a help, mate, in the whole parenting process.

家庭想要這些功能，身為數位時代的父母，我年紀稍大，沒有經歷過這些，但我認為這相當可怕，能夠利用人工智慧的力量作為助手、助手、夥伴，在整個育兒過程中。

I just think it's what it's all about, and I go back to the premise that I've said a number of calls in the past. There is no more valuable sub that a carrier can attract than a family sub.

我只是認為這就是事情的全部，我回到我過去多次呼籲的前提。對於一家航母來說，沒有比家用潛水艇更有價值的潛水艇了。

Families are willing to, they're much more loyal. They don't churn. They're willing to spend, a little extra money because they have some things in mind that they really want to help with and keeping the family safe is got to be one of the basis of this.

家人願意這樣做，他們也更忠誠。他們不會流失。他們願意多花一點錢，因為他們真心想幫忙做一些事情，而確保家人的安全是他們這樣做的基礎之一。

So if I was a carrier and I knew that the best customers I could get are family subs. I'd be doing business with Smith Micro. I wouldn't be trying to save a few bucks. I wouldn't be trying to, try some startup garage shop or something like that. I'd want to go with somebody who actually knows what they're doing. I want to make sure that the product is safe.

因此，如果我是營運商，我知道我能獲得的最佳客戶是家庭用戶。我會與 Smith Micro 做生意。我不會試著省幾塊錢。我不會嘗試去開辦一些車庫商店或類似的東西。我希望與真正知道自己在做什麼的人一起去。我想確保產品是安全的。

Is carrier grade and it is intuitive and is helpful to the parents. I know I'm preaching a little bit, but you know this is my shot. You ask the question.

屬於運營商級別，直觀且對父母有幫助。我知道我有點說教，但你知道這是我的機會。你問這個問題。

And then what about the increased relevance for tablets and I guess also any kind of, I can't imagine there are too many second order effects if the worst case on iPhone costs and pricing are realized. I think you probably have your niche and obviously you've got the install base and it doesn't matter that muchop people getting new phones, but any thoughts on how the global disruption could could could affect you and that's my last question. Thanks Will.

那麼平板電腦的相關性增加又如何呢？我想任何類型的平板電腦也是如此，如果 iPhone 成本和定價的最壞情況成為現實，我無法想像會有太多的二階效應。我認為您可能有自己的利基市場，顯然您有安裝基礎，而且很多人購買新手機並不重要，但對於全球混亂可能對您產生的影響，您有什麼看法，這是我的最後一個問題。謝謝威爾。

Yeah, okay, I understand where you're going with that. Look we are for our OS solution we're using a the largest device manufacturer, on the the Android side, it is products that every carrier already sells, so they don't have to go out and source new phones or new tablets or, and oh yes, tablets are part of the game too. I think the phone probably is bigger, but nonetheless.

是的，好的，我明白你的意思。你看，我們的作業系統解決方案是與最大的設備製造商合作的，在 Android 方面，它是每個運營商都已經在銷​​售的產品，所以他們不必出去採購新手機或新平板電腦，哦，是的，平板電腦也是遊戲的一部分。我認為這款手機可能更大，但無論如何。

We are looking at the tablet and and our solution will run on a tablet without doing anything else. That's great that answer your question.

我們正在看平板電腦，我們的解決方案將在平板電腦上運行，而無需做任何其他事情。非常好，回答了你的問題。

Absolutely thanks.

非常感謝。

Again, [Operator Instructions]. I would like to turn the conference back over to Charles Messman for any closing remarks.

再次，[操作員指示]。我想將會議交還給查爾斯·梅斯曼 (Charles Messman) 做最後發言。

Thank you, operator and thanks everybody for joining us. We appreciate your interest in the company. Should you have any questions, please feel free to give us a call.

謝謝接線員，也謝謝大家的參與。我們感謝您對我們公司的關注。如果您有任何疑問，請隨時致電我們。

Thanks, and we'll talk to you in a little bit.

謝謝，我們稍後再聊。

This concludes today's conference call.

今天的電話會議到此結束。

Thank you for attending today's presentation. You may now disconnect.

感謝您參加今天的演講。您現在可以斷開連線。