Spok Holdings Inc (SPOK) 2024 Q3 法說會逐字稿

Greetings and welcome to the Spoke Holdings Inc Q3, 2024 earnings results call at this time. All participants are in a listen-only mode, a brief question and answer session will follow the formal presentation.

您好，歡迎此時參加 Spoke Holdings Inc 2024 年第三季財報電話會議。所有參與者均處於僅聽模式，正式演示後將進行簡短的問答環節。

If anyone should require operator assistance during the conference, please press star and then zero on your telephone keypad as a reminder, this conference is being recorded.

如果有人在會議期間需要操作員協助，請按電話鍵盤上的星號，然後按零提醒，本次會議正在錄音。

It is now my pleasure to introduce your host, Al Galgano. Thank you. You may begin.

現在我很高興向大家介紹你們的主持人阿爾·加爾加諾。謝謝。你可以開始了。

Hello, everyone and welcome to Spoke Holdings third quarter, 2024 earnings call. I am joined by Vince Kelly, Chief Executive Officer, Mike Wallace, President of spoke Inc and operating officer, and Calvin Rice, Chief Financial Officer. I want to remind everyone that today's conference call may include forward-looking statements that are subject to risks and uncertainties relating to spokes future financial and business performance. Such statements include estimates of revenue, expenses and income as well as other predictive statements or plans which are dependent upon future events or conditions. These statements represent the company's estimates only on the date of this conference call and are not intended to give any assurance as to actual future results.

大家好，歡迎參加 Spoke Holdings 2024 年第三季財報電話會議。與我一起出席的還有執行長文斯凱利 (Vince Kelly)、史派克公司總裁兼營運長 Mike Wallace 以及財務長卡爾文賴斯 (Calvin Rice)。我想提醒大家，今天的電話會議可能包含前瞻性陳述，這些陳述受到與未來財務和業務績效相關的風險和不確定性的影響。此類報表包括收入、費用和收入的估計以及取決於未來事件或條件的其他預測報表或計劃。這些陳述僅代表公司在本次電話會議當天的估計，並不旨在對未來的實際結果提供任何保證。

Spokes, actual results could differ materially from those anticipated in these forward-looking statements. Although these statements are based upon assumptions that the company believes to be reasonable. They are subject to risks and uncertainties. Please review the risk factors section relating to our operations and the business environment which are contained in our third quarter, 2024 form 10-Q and related documents filed with the securities and exchange commission. Please note that spoke assumes no obligation to update any forward-looking statements from past or present filings and conference calls with that. I'll turn the call over to Vince.

發言人表示，實際結果可能與這些前瞻性聲明的預期有重大差異。儘管這些陳述是基於公司認為合理的假設。它們面臨風險和不確定性。請查看 2024 年第三季 10-Q 表以及向證券交易委員會提交的相關文件中包含的與我們的營運和商業環境相關的風險因素部分。請注意，發言人沒有義務更新過去或現在的文件和電話會議中的任何前瞻性聲明。我會把電話轉給文斯。

Thank you al and good afternoon everyone. Thank you for joining us for our third quarter. 2024 earnings call. I'm proud of the performance that our team was able to deliver in the third quarter as we continue to serve our customers at a high level and position. Spoke for strong performance in the fourth quarter and throughout 2025 we continue to make progress across the organization and believe that our strong operating platform and professional sales organization will result in solid full year software bookings growth.

謝謝大家，大家下午好。感謝您加入我們的第三季。2024 年財報電話會議。我對我們的團隊在第三季取得的業績感到自豪，因為我們繼續以高水準和高水準為客戶提供服務。談到第四季度和整個 2025 年的強勁業績，我們整個組織繼續取得進展，並相信我們強大的營運平台和專業的銷售組織將帶來全年軟體預訂的穩健成長。

As we have previously stated, we expect to achieve low double digit year over year software bookings growth for the full year contributing to our strong level of software operations. Bookings in Q3 where 24 six- figure customer contracts, double the amount generated in the prior quarter. Further, we are positioned strongly for 2025. We have amazing relationships with the top health care systems in the nation who continue to purchase from us on a regular basis.

正如我們之前所說，我們預計全年軟體預訂量將實現兩位數的年低成長，有助於我們強勁的軟體營運水準。第三季的預訂量達 24 個六位數的客戶合同，是上一季的兩倍。此外，我們為 2025 年做好了強有力的準備。

We continue to invest in and enhance our platforms consistent with what our customers are requesting and spokes products and services are viewed as an indispensable utility by our customers leading to strong customer loyalty.

我們繼續根據客戶的要求投資和增強我們的平台，並且輻條產品和服務被客戶視為不可或缺的實用工具，從而增強了客戶忠誠度。

Let me also take this opportunity right up front to remind everyone that our mission remains solidly unchanged. That is to generate cash and return capital to our shareholders over the long term while responsibly investing in and growing our business. That is our primary focus, returning capital to shareholders is a legacy. We feel good about executing a strategy we believe in and one where we have enjoyed a lot of historical success.

我也藉此機會提醒大家，我們的使命始終沒有改變。即長期產生現金並向股東返還資本，同時負責任地投資和發展我們的業務。這是我們的首要關注點，向股東返還資本是一項遺產。我們對執行一項我們所相信的策略感到滿意，並且我們在該策略中取得了許多歷史性的成功。

Today, we will share with you an update on how our strategic business plan is progressing in support of this goal as well as our financial results for the quarter. I'll start by reviewing the agenda for today's call and the order will be as follows. Number one, I'll provide a review of our company performance for the quarter. Number two, Michael Wallace, our President and Chief Operating Officer will review quarterly sales and operational highlights.

今天，我們將與您分享我們的策略業務計劃為支持這一目標而取得的最新進展以及本季度的財務業績。我先回顧一下今天電話會議的議程，順序如下。第一，我將回顧我們公司本季的業績。第二，我們的總裁兼營運長邁克爾華萊士將審查季度銷售和營運亮點。

Number three, Calvin Rice, our Chief Financial Officer will review our third quarter financial highlights and financial guidance for 2024. And number four, I'll come back and wrap up the call and open it up for your questions.

第三，我們的財務長 Calvin Rice 將回顧我們第三季的財務亮點和 2024 年的財務指導。第四，我會回來結束通話並開始回答您的問題。

Again, as I said up front, we're proud of what the spoke team has been able to accomplish in the third quarter. And we believe we're positioned for a strong fourth quarter. Third quarter, highlights included a nearly 65% year over year growth in software operations bookings compared to Q3 last year and increase the software backlog to $63.6 million. Up more than 19% from the prior year quarter continued pipeline growth in terms of the size and quality, continued strength in our professional services business. With year over year growth of 26% continued strong levels of adjusted EBITDA which covered our quarterly dividend and capital expenditure requirements.

再次，正如我之前所說，我們對輻條團隊在第三季的成就感到自豪。我們相信我們已準備好迎接第四季度的強勁表現。第三季的亮點包括與去年第三季相比，軟體營運預訂年增近 65%，軟體積壓金額增加至 6,360 萬美元。與去年同期相比成長超過 19%，管道的規模和品質持續成長，我們的專業服務業務持續強勁。調整後 EBITDA 年成長 26%，持續維持強勁水平，滿足了我們的季度股息和資本支出需求。

A resulting increase in cash balances which grew approximately $4 million during the quarter and will continue to build through the remainder of the year. And lastly continued expansion for wireless average revenue per unit. Further reflecting the impact of prior pricing actions and sales of our encrypted if a compliant numeric gen a pager in short, we were very pleased with our performance in the third quarter and believe that our results in the first nine months of the year provide a strong foundation for a solid fourth quarter in 2025 common when we review the specifics later. But based on our most recent forecast, we are reiterating our previous guidance range for 2024 in the third quarter of 2024.

由此產生的現金餘額在本季增加了約 400 萬美元，並將在今年剩餘時間內繼續增加。最後，每單位無線平均收入持續成長。簡而言之，我們對第三季的業績感到非常滿意，並相信我們在今年前九個月的業績提供了強勁的業績，進一步反映了先前的定價行動和我們的加密數位尋呼機銷售的影響。為2025 年第四季的堅實基礎奠定基礎，當我們稍後回顧具體細節時。但根據我們最近的預測，我們在 2024 年第三季重申了先前對 2024 年的指導範圍。

We generated over $7.5 million of adjusted EBITDA which more than covered the $6.3 million we returned to our stockholders. However, at the same time, we increased our third quarter research and development investment by nearly $0.3 million or 10.5% on a year over year basis. And we believe we're on track to invest approximately $11.5 million in product research and development expenses in 2024 that represents an investment in our future and upside for solutions sales momentum, as I mentioned, spoke as a proud legacy of creating stockholder value through free cash flow generation. And we intend to continue this track record. In fact, over the last 20 years, spoke has returned a total of more than $690 million to our stockholders either through our regular quarterly dividend, special dividends or share repurchases our focus on maximizing cash over the long term supports the four major tenants of our strategy.

我們產生了超過 750 萬美元的調整後 EBITDA，這超過了我們返還給股東的 630 萬美元。然而，同時，我們第三季的研發投資年增了近30萬美元，即10.5%。我們相信，我們預計在2024 年投資約1,150 萬美元的產品研發費用，這代表著對我們未來的投資以及解決方案銷售勢頭的上升，正如我所提到的，這是透過免費創造股東價值的令人自豪的遺產。我們打算繼續保持這項記錄。事實上，在過去20 年裡，Speak 透過定期季度股息、特別股息或股票回購，總共向我們的股東返還了超過6.9 億美元。支持。

Those are number one, continued investment in our wireless and software solutions. Number two, growing our revenue base, number three, continued disciplined expense management and number four, a stockholder friendly capital allocation plan going forward. We believe our extensive experience in selling and operating our established communication solutions and world class customer base will create significant value for stockholders.

這些是我們對無線和軟體解決方案的第一持續投資。第二，擴大我們的收入基礎，第三，繼續嚴格的費用管理，第四，未來股東友善的資本分配計畫。我們相信，我們在銷售和營運現有通訊解決方案方面的豐富經驗以及世界一流的客戶群將為股東創造巨大的價值。

Before I turn the call over to Mike, let me take a moment to review what I believe. Just spoke its competitive advantage. As you can see from the chart today, spoke command is a strong competitive position and there are many methods that point to the strength of our platform. There are multiple factors that have contributed to spokes, industry, leading reputation and best in class product offering. I'd like to take a few moments to review some of our key recent accomplishments in product research and development. We believe our work here will fuel future software revenue growth and that our extensive experience selling and operating our established communication solutions will create significant value for stockholders by maximizing revenue and cash flow generation.

在我把電話轉給麥克之前，讓我花點時間回顧一下我的信念。剛才講了它的競爭優勢。正如您從今天的圖表中看到的，輻射指揮是一個強大的競爭地位，有很多方法可以表明我們平台的優勢。有多種因素促成了輻條、行業、領先聲譽和一流的產品供應。我想花一些時間回顧我們最近在產品研發方面取得的一些主要成就。我們相信，我們在這裡的工作將推動未來軟體收入的成長，並且我們在銷售和營運現有通訊解決方案方面的豐富經驗將透過最大化收入和現金流產生為股東創造巨大價值。

Our product and development teams have been hard at work executing our product road map deliverables. For example, we recently completed and made available upgrades and a new UI to our operator consoles which hospitals used to efficiently process and route calls. We also launched spoke care, connect contact center for universal interoperability. During the fourth quarter, we intend to number one, deploy upgrades to our spoke care, connect enterprise reporting. Number two, provide enhanced dashboard services for clinical and operational alerting.

我們的產品和開發團隊一直在努力執行我們的產品路線圖交付成果。例如，我們最近完成並提供了操作員控制台的升級和新的使用者介面，醫院使用這些控制台來有效地處理和路由呼叫。我們也推出了輻條護理、連接聯絡中心以實現通用互通性。在第四季度，我們打算把升級部署到我們的輻條護理，連接企業報告。第二，為臨床和操作警報提供增強的儀表板服務。

Number three, expand soft phone support and SMS two way service improvements and number four expand [HL seven] standards to support a wider variety of alerting systems. We look forward to future growth opportunities as a result of this work.

第三，擴展軟體電話支援和 SMS 雙向服務改進，第四擴展 [HL 7] 標準以支援更廣泛的警報系統。我們期待這項工作帶來未來的成長機會。

Earlier this month, we hosted our connect 24 users conference. This year we had 233 customers registered for the virtual event. Our conference at the conference, we were able to showcase our product road map on our recent research and development efforts. Customer feedback was very positive and we look forward to the growth opportunities. This conference created for 2025 and beyond.

本月早些時候，我們舉辦了 Connect 24 用戶會議。今年，我們有 233 位客戶註冊參加了虛擬活動。在我們的會議上，我們能夠展示我們最近的研發工作的產品路線圖。客戶的回饋非常積極，我們期待成長機會。本次會議是為 2025 年及以後舉辦的。

With that, I'll turn the call over to Mike. Thanks.

這樣，我會將電話轉給麥克。謝謝。

Vince and thank you everyone for joining us this afternoon.

文斯，感謝大家今天下午加入我們。

As since pointed out, it was a strong quarter and we made tremendous progress in a number of key areas.

正如此後指出的那樣，這是一個強勁的季度，我們在許多關鍵領域取得了巨大進展。

And as we say each quarter, while we continue to progress in building a solid financial platform and shareholder friendly capital allocation strategy, we remain true to our mission of being a global leader in health care communications.

正如我們每季所說的那樣，雖然我們在建立堅實的金融平台和股東友好的資本配置策略方面不斷取得進展，但我們仍然忠於成為醫療保健通訊領域的全球領導者的使命。

At the end of the day, our mission is to deliver clinical information to care teams when and where it matters most to improve patient outcomes. As Spoke enables smarter faster clinical communications for our customers.

歸根結底，我們的使命是在最重要的時間和地點向護理團隊提供臨床訊息，以改善患者的治療結果。As Spoke 為我們的客戶提供更聰明、更快速的臨床通訊。

One of our great assets is our over 2,200 health care facilities as customers representing the who's who of hospitals in the United States.

我們的重要資產之一是我們擁有 2,200 多家醫療保健機構，它們是代表美國醫院名錄的客戶。

We have built our solutions over many years and have cultivated these long standing valuable customer relationships.

我們多年來建立了我們的解決方案，並培養了這些長期寶貴的客戶關係。

This is coupled with the financial strength that more than 80% of our revenue is reoccurring in nature and we are a company with no debt which provides us significant flexibility in the third quarter. Our $10.4 million of software operations bookings included 24 Six figure contracts, doubling our second quarter performance for that metric and sustaining the momentum that we saw last year.

再加上我們 80% 以上的收入本質上是重複發生的財務實力，而且我們是一家沒有債務的公司，這為我們在第三季度提供了巨大的靈活性。我們 1,040 萬美元的軟體營運訂單包括 24 份六位數合同，使我們第二季度的業績翻了一番，並維持了去年的勢頭。

Additionally, 16 of the customer contracts we signed this quarter were multi year engagements. Now let me take a few minutes to highlight a few of the customer engagements that we signed in the third quarter. The first is with a large and prestigious Northeastern health system that spoke has partnered with for over 20 years.

此外，我們本季簽署的 16 份客戶合約是多年合約。現在，讓我花幾分鐘時間重點介紹我們在第三季簽署的一些客戶合作專案。第一個是與著名的東北部大型衛生系統合作，該系統已合作超過 20 年。

The organization operates 14 hospitals with almost 40,000 employees. This is the initial phase of a longer term vision, standardizing five disparate spoke care, connect instances onto spoke smart suite for phase one.

該組織經營 14 家醫院，擁有近 40,000 名員工。這是長期願景的初始階段，標準化五個不同的輻條護理，將實例連接到輻條智慧套件以進行第一階段。

In addition to an upgrade of the core platform, the project includes additional smart suite console test licenses, value added services to ensure successful transitions for those facilities not using smart console along with addressing various technical initiatives and requirements of this customer.

除了核心平台的升級之外，該專案還包括額外的智慧套件控制台測試許可證和增值服務，以確保那些不使用智慧控制台的設施成功過渡，並滿足該客戶的各種技術計劃和要求。

When phase one is completed, this standardized enterprise system will allow each location to maintain current individual facility specific workflows. Future phases include expansion to other hospitals not using spoke software so they too can use spoke for their patient care endeavors.

第一階段完成後，這個標準化的企業系統將允許每個地點維持目前的各個設施特定的工作流程。未來的階段包括擴展到不使用輻條軟體的其他醫院，這樣他們也可以使用輻條來進行病患照護工作。

The second contract is with a health system that has been with spoke for over 24 years. This East coast academic health system operates across seven hospitals with a workforce exceeding 15,000 employees.

第二份合約是與一個已經使用超過 24 年的衛生系統簽訂的。這個東海岸學術醫療系統在七家醫院運營，員工人數超過 15,000 人。

They own the spoke care connect platform on limited enterprise licenses to initiate nearly 400,000 codes annually. Dispatching approximately 1 million messages or pages and oversee nearly 650 on call groups per year.

他們擁有有限企業許可證的輻照護理連接平台，每年可發起近 40 萬個代碼。每年發送約 100 萬條訊息或尋呼，並監督近 650 個待命群組。

This is our second multi year with them, which includes spoke, smart suite console licenses and upgrades, spoke you notify, spoke, messenger and spoke mobile usage for the organization's 6,500 licenses as an existing spoke customer. They also opted for three value added services, data integrity solution, assessment, and workflow analysis, which will help our partner derive maximum value from their spokes.

這是我們與他們合作的第二個多年，其中包括分支、智慧套件控制台許可證和升級、分支您通知、分支、信使和分支移動使用，作為現有分支客戶的組織的 6,500 個許可證。他們還選擇了三項加值服務：資料完整性解決方案、評估和工作流程分析，這將幫助我們的合作夥伴從他們的輻條中獲得最大價值。

Lastly in the quarter, we secured another outstanding multi year engagement with a customer. That's the third largest nonprofit integrated health system in the United States. They have a footprint across six states in the Southeast West and Upper Midwest. They are committed to improving affordability and access to quality care. This multi year engagement was focused on enhancing their consolidated spoke care connect platform that currently supports 21 hospitals across Illinois and Wisconsin.

最後，在本季度，我們與客戶達成了另一項出色的多年合作。這是美國第三大非營利綜合醫療系統。他們的足跡遍及東南西部和中西部北部的六個州。他們致力於提高負擔能力和獲得優質照護的機會。這項多年合作的重點是增強其綜合輻照護理連接平台，該平台目前支援伊利諾伊州和威斯康辛州的 21 家醫院。

The spoke system is relied on for all switchboard operations including the initiation of codes and emergency procedures. Our system is also leveraged as the enterprise directory with access to on call schedules as an existing spoke customer. This project will introduce modernization to the user interface, enhanced architecture and continued support of the PBX strategy and road map.

所有總機操作都依賴輪輻系統，包括啟動代碼和緊急程序。我們的系統也被用作企業目錄，可以作為現有的輻射客戶訪問待命時間表。該專案將引入現代化的使用者介面、增強的架構以及對 PBX 策略和路線圖的持續支援。

On a final note, I'd like to give recognition to our wireless team and their ability to quickly jump into action to mitigate the impact of the recent hurricanes, Helene and Milton.

最後，我要對我們的無線團隊以及他們迅速採取行動減輕最近颶風海倫和米爾頓影響的能力表示認可。

The storms heavily impacted Florida's coastlines as well as into Georgia, South Carolina and North Carolina as it relates to Hurricane Helene. A number of transmitters were down and our team of techs quickly mobilized into action. Our team was able to get transmitters impacted the storm quickly back online and we experienced minimal customer escalations.

風暴嚴重影響了佛羅裡達州的海岸線以及喬治亞州、南卡羅來納州和北卡羅來納州，因為它與颶風海倫有關。許多發射器故障，我們的技術團隊迅速動員採取行動。我們的團隊能夠使受風暴影響的發射機快速恢復在線狀態，並且我們經歷了最小的客戶升級。

It is the responsiveness and customer support that our team demonstrates every day that has gained us the industry leading reputation that then spoke about and makes our wireless business such an incredible franchise. I'd like to thank our team for their efforts and dedication to creating strong customer loyalty for spoke. I will now turn the call over to Calvin Rice, our Chief Financial Officer to briefly review the third quarter financial performance. Calvin.

正是我們團隊每天表現出的響應能力和客戶支援為我們贏得了行業領先的聲譽，並使我們的無線業務成為如此令人難以置信的特許經營權。我要感謝我們的團隊為建立輻條客戶忠誠度而付出的努力和奉獻。我現在將電話轉給我們的財務長卡爾文‧賴斯 (Calvin Rice)，簡要回顧第三季的財務表現。卡爾文.

Thanks Mike and good afternoon.

謝謝邁克，下午好。

I would now like to take a few minutes and provide a recap of our third quarter. 2024 financial performance which we reported today.

現在我想花幾分鐘時間回顧我們的第三季。我們今天報告的 2024 年財務表現。

I encourage you to review our 10-Q one filed as it includes significantly more information about our business operations and financial performance than we will cover on this call. Turning to our income statement in the third quarter of 2024 GAAP net income totaled $3.7 million or 18¢ per diluted share compared to net income of $4.5 million or 22¢ per diluted share in the third quarter of 2023 in the third quarter of 2024 total. GAAP revenue was $34.9 million compared to total revenue of $35.4 million in the prior year period.

我鼓勵您查看我們提交的 10-Q 報告，因為其中包含的有關我們業務營運和財務業績的資訊比我們在本次電話會議中涵蓋的資訊要多得多。轉向我們2024 年第三季的損益表，2024 年第三季的GAAP 淨利總計為370 萬美元，即稀釋後每股收益18 美分，而2023 年第三季淨利為450 萬美元，即稀釋後每股收益22 美分。GAAP 收入為 3,490 萬美元，而去年同期總收入為 3,540 萬美元。

Revenue for the quarter consisted of wireless revenue of $18.3 million in software revenue of $16.6 million compared to $19 million and $16.5 million in the prior year respectively. With respect to wireless revenue, we did see a bump in quarterly net unit churn unit churn can be lumpy from one quarter to the next. So we don't place a significant emphasis on what happens in a single quarter.

該季度的收入包括 1,830 萬美元的無線收入和 1,660 萬美元的軟體收入，而去年同期分別為 1,900 萬美元和 1,650 萬美元。就無線收入而言，我們確實看到季度淨單位流失率上升，單位流失率從一個季度到下一個季度可能會出現波動。因此，我們不會過度強調單一季度發生的情況。

There were several large contracts we had anticipated this quarter that moved into the fourth quarter from a timing perspective had we brought those in net churn rate would have been much lower and we still expect to lock those down by end of year.

我們預計本季度有幾份大型合約從時間角度來看會進入第四季度，如果我們將這些合約的淨流失率降低得多，我們仍然預計在年底前鎖定這些合約。

With that said third quarter churn was slightly higher than anticipated. We now expect full year churn to range from 4.5% to 6% slightly behind the 4.4% to 5% we had previously mentioned and still within the rates, we have seen the last several years, two increased 36¢ or 4.7% from the prior year, primarily driven by the continued impact of pricing action undertaken in late 2023 and again in 2024 while we believe the demand for our wireless services will continue to decline on a secular basis as reflected in declining Pager units and service. We are hopeful that our focus on pricing and new product offerings will continue to further offset revenue lost through pager unit decline. Turning to third quarter software revenue professional services revenue of $4.8 million was up 26.1% from the prior year period. Reflecting the sharp increase in software operations, bookings as previously discussed.

話雖如此，第三季的客戶流失率略高於預期。我們現在預計全年客戶流失率將在4.5% 至6% 之間，略低於我們之前提到的4.4% 至5%，但仍處於我們過去幾年看到的比率範圍內，其中兩年比前一年增長了36 美分或4.7%今年，主要是由於2023 年末和2024 年採取的定價行動的持續影響，而我們相信對我們無線服務的需求將長期持續下降，這反映在尋呼機數量和服務的下降。我們希望，我們對定價和新產品供應的關注將繼續進一步抵消因尋呼機銷售下降而損失的收入。第三季軟體收入專業服務收入為 480 萬美元，比去年同期成長 26.1%。如同前面所討論的，這反映了軟體業務的急劇增加，預訂量。

We have also seen managed services perform very well for the quarter managed services comprise roughly 20% of our professional services revenue and grew by almost 133% from the prior year period.

我們也看到託管服務在本季表現非常出色，託管服務約占我們專業服務收入的 20%，比去年同期成長了近 133%。

As I had mentioned previously, we are excited about the prospects of this growing service offering. As you may remember, this is a service offering within our professional services that is typically bundled with maintenance and sold like a subscription renewal. While managed services are likely to be cost prohibitive to our smaller customers, they have been well received by our medium and large customers who desire more predictability in their annual budgeting and throughout the upgrade life cycle process, we believe that over time this business will generate higher margins in relation to our traditional fixed bid engagements.

正如我之前提到的，我們對這種不斷增長的服務產品的前景感到興奮。您可能還記得，這是我們專業服務中的一項服務，通常與維護捆綁在一起，並像訂閱續訂一樣出售。雖然託管服務對我們的小型客戶來說可能成本過高，但它們受到了我們的中型和大型客戶的好評，他們希望年度預算和整個升級生命週期過程具有更多的可預測性，我們相信隨著時間的推移，這項業務將產生與我們傳統的固定投標業務相比，利潤率更高。

Beyond this, it also provides us with a more predictable and measurable revenue stream license and hardware revenue totaled $2.4 million in the third quarter of 2024 compared to $3.2 million in the same period of 2023 and finally third quarter maintenance revenue of $9.3 million was essentially flat to the prior year adjusted operating expenses which excludes depreciation, accretion and severance and restructuring cost totaled $28.5 million for the third quarter compared to $27.9 million in the prior year period year. Over year cost of revenue increased primarily due to the aforementioned increase in professional service bookings and the related hiring to support those services, research and development costs continue to remain higher to support the ongoing investment in our product platform as we had previously discussed and remain on target to finish the year at approximately $11.5 million. As we have previously mentioned, general and administrative costs reflectively from one time items vary from one quarter to the next.

除此之外，它還為我們提供了更可預測和可衡量的收入流許可證，2024 年第三季的硬體收入總計為240 萬美元，而2023 年同期為320 萬美元，最後第三季度的維護收入為930 萬美元，基本持平與上年同期相比，第三季調整後的營運費用（不包括折舊、增值、遣散費和重組成本）總計為2,850 萬美元，而去年同期為2,790萬美元。同比收入成本的增加主要是由於上述專業服務預訂的增加以及支持這些服務的相關招聘的增加，研發成本繼續保持較高水平，以支持我們之前討論過的對我們產品平台的持續投資，並保持在年底目標約1,150 萬美元。正如我們之前提到的，一般成本和管理成本反映了一次專案在每季的變化。

These were partly offset by lower costs in technology operations as we continue to manage those costs in relation to our declining wireless revenues. Adjusted EBITDA in the third quarter totaled $7.5 million as compared to $8.4 million in the prior year period. Yet up $0.5 million from the prior quarter. We were pleased with our third quarter results and believe our robust pipeline and the momentum that has been building over the course of 2024 has us positioned to end the year strong more on financial guidance. In a minute. We ended the third quarter with $27.8 million in cash which grew from $23.9 million. In the second quarter.

這些成本被技術營運成本降低所部分抵消，因為我們繼續管理與無線收入下降相關的成本。第三季調整後 EBITDA 總額為 750 萬美元，而去年同期為 840 萬美元。但較上一季增加了 50 萬美元。我們對第三季的業績感到滿意，並相信我們強勁的產品線和 2024 年不斷積累的勢頭使我們能夠在今年結束時在財務指導方面更加強勁。一分鐘後。第三季結束時，我們的現金為 2,780 萬美元，高於 2,390 萬美元。在第二季。

Based on our current outlook, we continue to anticipate annual free cash flow in the range of $25 to $27 million and expect to exit 2024 with cash balances between $28 and $30 million. On a final note, as you have probably already seen in today's press release based on our performance in the first nine months of the year and with a confidence in our fourth quarter performance, we are reiterating the guidance ranges for revenue and adjusted a EBITDA for 2024 for the full year. We expect total revenue to range from $136 to $144 million with wireless revenue ranging between $72 to $75 million and software revenue ranging between $64 to $69 million. Finally, we expected just EBITDA to range from $27.5 to $32.5 million. With that said, I will now turn the call back over to.

根據我們目前的展望，我們繼續預計年度自由現金流在 2500 至 2700 萬美元之間，並預計 2024 年結束時現金餘額將在 28 至 3000 萬美元之間。最後一點，正如您可能已經在今天的新聞稿中看到的那樣，基於我們今年前九個月的業績，並對我們第四季度的業績充滿信心，我們重申了收入指導範圍，並調整了 EBITDA 2024 年全年。我們預計總收入為 136 至 1.44 億美元，其中無線收入為 7,200 至 7,500 萬美元，軟體收入為 6,400 至 6,900 萬美元。最後，我們預計 EBITDA 的範圍為 27.5 美元至 3,250 萬美元。話雖如此，我現在將把電話轉回。

Vince. Thank you Calvin and thank you Mike. We believe we're strongly positioned to grow our franchise value while returning capital to our stockholders. We have a long term organic growth engine in our software solutions who spoke Care connect where we continue to invest. We maintain a strong source of reoccurring revenue in our wireless service line.

文斯.謝謝卡爾文，謝謝麥克。我們相信，我們有能力增加我們的特許經營價值，同時向股東返還資本。我們的軟體解決方案擁有長期的有機成長引擎，他們在我們繼續投資的地方談到了 Care connect。我們的無線服務線保持強大的經常性收入來源。

We run the largest ping offering in the world.

我們提供世界上最大的 ping 產品。

It continues to function during natural disasters like hurricanes. When other communications technology fails, our customers appreciate that. We have integrated paging with our software operations. We have enhanced our paging platform and brought new modern secure user devices to market in order to serve our core health care customer base. We believe with these two assets going for us, we can continue to pay our recurring dividend for the foreseeable future and our best financial results are ahead of us. We appreciate your interest and spoke and we look forward to updating everyone again next quarter when we report our fourth quarter results and provide guidance for 2025 in late February. Thank you for joining us this morning and have a great day operator. You may now open the line up to questions.

它在颶風等自然災害期間繼續發揮作用。當其他通訊技術失敗時，我們的客戶會對此表示讚賞。我們已將尋呼與我們的軟體操作整合在一起。我們增強了尋呼平台，並將新的現代安全用戶設備推向市場，以便為我們的核心醫療保健客戶群提供服務。我們相信，有了這兩項資產，我們可以在可預見的未來繼續支付經常性股息，而我們最好的財務表現就在眼前。感謝您的關注和發言，我們期待在下個季度報告第四季度業績並在 2 月下旬提供 2025 年指導時再次向大家通報最新情況。感謝您今天早上加入我們，祝您有個愉快的一天。您現在可以開始提問。

Carl Bauer of B Riley. Please go ahead.

B Riley 的 Carl Bauer。請繼續。

Hi, Vince Mike and Calvin. Thank you for taking my questions and congrats on a really productive quarter here.

嗨，文斯·邁克和卡爾文。感謝您回答我的問題，並祝賀您度過了一個非常富有成效的季度。

Thank you.

謝謝。

So, on the software operations, booking side is really nice step up of 24 six figure contracts. That's, you know, versus 18 last quarter in 19 and Q1. Can you talk a little bit more about the makeup of these bookies? I know Mike talked about a few of these, you know, bigger contracts, which is great, you know, more broadly where they derived from existing clients, new hospitals. You talked about in the past, about breaking out clients by number of beds. So like over under 200 or over 600 just kind of curious if you could provide a little bit more color around some of these big contracts. Yeah, Kyle.

因此，在軟體營運方面，預訂方面確實是 24 份六位數合約的不錯進步。你知道，這一數字與上季的 19 和第一季的 18 相比。您能多談談這些博彩公司的組成嗎？我知道麥克談到了其中的一些，你知道，更大的合同，這很棒，你知道，更廣泛地說，它們來自現有客戶、新醫院。您過去曾談到按床位數量對客戶進行分類。所以，就像超過 200 或超過 600，只是有點好奇你是否可以為這些大合約中的一些提供更多的色彩。是的，凱爾。

Most of these contracts were larger customers that we have existing customers that we have doing upgrades and in those upgrades are buying the manage services along with that not a ton of new logo business this quarter, there was a couple you know, obviously it's going to be a big focus in 25 as we bring some of our new software solutions to market. But it's basically, you know, similar to what you've seen in prior quarters.

這些合約中的大多數都是較大的客戶，我們有現有的客戶，我們正在進行升級，在這些升級中購買管理服務以及本季度沒有大量的新徽標業務，有幾個你知道，顯然它會當我們將一些新的軟體解決方案推向市場時，將成為 25 年的一大焦點。但基本上，你知道，與你在前幾個季度看到的情況類似。

Got it. And, and you've also mentioned having about 26% market share in the US at least. Can you, can you talk about how you see your reach kind of expanding in in the US across? I think you've talked about the 7,000 sites of care.

知道了。而且，您還提到至少在美國擁有約 26% 的市場份額。您能談談您如何看待在美國的影響力擴大嗎？我想您已經談到了 7,000 個護理站點。

Yeah, Kyle, it's Mike you know, we, we've talked about this before. It's, it's kind of bifurcated when you look at the large hospitals. So over 600 beds, we touch about 50% of those customers. Now, not every one of those customers have all of our solutions. If you look and that's about 350 facilities out of the 7,000 or so in the United States, kind of the [mid tier], which is kind of 200 beds to 599 beds. Again, we touch about 30% of those customers, which again, they don't have necessarily all of our products and then the small customers which are under 200 beds, which is the overwhelming number as far as just a nominal number, it's like 5,500 out of the 7,000 or so. We've only got about 5% of that market at the end of the day. So, as we've talked about before, we're heavily skewed towards the larger, more complex. You know, over 600 bed hospitals in the United States.

是的，凱爾，是麥克，你知道，我們，我們之前討論過這個。當你看看大醫院時，情況有點分歧。超過 600 個床位，我們接觸到了其中約 50% 的客戶。現在，並非每位客戶都擁有我們的所有解決方案。如果你看一下，在美國大約 7,000 個設施中，大約有 350 個設施屬於[中層]，即 200 個床位到 599 個床位。同樣，我們接觸到了大約 30% 的客戶，他們不一定擁有我們所有的產品，然後是 200 個床位以下的小客戶，就名義數字而言，這是壓倒性的數字，就像7,000 人左右中的5,500 人。到最後我們只獲得了大約 5% 的市場份額。因此，正如我們之前談到的，我們嚴重偏向更大、更複雜的東西。要知道，美國有超過600個床位的醫院。

Got it. That makes sense. And maybe switching to ARPU so it came up nicely even above Q1 levels. Can you talk about this a little bit more? Maybe remind me what sort of steady state air you're kind of targeting or maybe how you see this trending. Is there seasonality, etcetera.

知道了。這是有道理的。也許切換到 ARPU，因此它的表現甚至高於第一季的水平。你能多談談這個嗎？也許提醒我您的目標是哪種穩態空氣，或者您如何看待這種趨勢。有沒有季節性等等。

Yes, Kyle. Hey, this. Is Calvin. And so from an RP perspective, you know, to be quite frank, we're targeting as, as much as we can, obviously balancing the churn levels and being conscious of, of the macro environment and everything that our customers go go through from that perspective. But really driving the RPO function is it's going to, it's going to be a function of the price increases by and large that we've spoken to for the last several years. And we did another one effective September 1st. So you only see about a month of that being reflected there this year and certainly for the quarter.

是的，凱爾。嘿，這個。是卡爾文.因此，從 RP 的角度來看，坦白說，我們的目標是盡可能平衡客戶流失水平，並意識到宏觀環境以及我們的客戶所經歷的一切。但真正推動 RPO 功能的是，它將是我們過去幾年談到的整體價格上漲的函數。我們又做了一項，從 9 月 1 日起生效。因此，今年你只能看到其中大約一個月的情況，當然還有本季的情況。

And so that will continue to roll through in the fourth quarter and beyond, that's going to be the biggest driver. And then the gena pager is the other component that's really helping support that ARPU and and and comes in at about an average 250 more per units relative to kind of our standard unit. So as we kind of proliferate those units throughout the customer base, that will continue to increase and help out the ARPU function as well. So those are, those are really the two kind of key components of, of ARPU and, and what's been driving that, that performance over the last several years?

因此，這將在第四季度及以後繼續發展，這將成為最大的推動力。gena 尋呼機是另一個真正有助於支援 ARPU 的組件，並且相對於我們的標準設備，每台平均增加 250 左右。因此，當我們在整個客戶群中增加這些單位時，這將繼續增加並有助於提高 ARPU 功能。那麼，這些確實是 ARPU 的兩種關鍵組成部分，以及過去幾年推動這種表現的因素是什麼？

Okay. Thank you. And maybe just a couple quick ones, one on international and the other on October, which sounds like that's a good start. So on international this is kind of a growth opportunity that you talked about. Can can you you know, provide a little bit more color around maybe the size of this market and how we should think about the international contribution, you know, over the next 12 to 24 months.

好的。謝謝。也許只是幾個快速的，一個是國際比賽，另一個是十月，這聽起來像是一個好的開始。因此，在國際上，這是您談到的一種成長機會。您能否就這個市場的規模提供更多信息，以及我們應該如何考慮未來 12 到 24 個月的國際貢獻。

Most of our international effort is focused on the APAC region. You know, I think Australia in particular, we partnered with a company called in technology to penetrate that market. We're working very closely with them. We've gone to a number of trade shows with them, working with the National Health Service over there. So we have aspirations there for 2025. I don't think you'll see anything major happen in 2024 and the balance of the year with that. But that's where our big focus is. You know, with respect to international.

我們大部分的國際努力都集中在亞太地區。你知道，我認為特別是在澳大利亞，我們與一家名為「技術」的公司合作，以滲透該市場。我們正在與他們密切合作。我們與他們一起參加了許多貿易展覽，並與那裡的國家醫療服務體系合作。所以我們對 2025 年抱持著期望。我認為 2024 年及其餘下時間不會發生任何重大事件。但這就是我們的重點。你知道，就國際而言。

Okay. Thank you for that. And then lastly, you mentioned October being off to a great start. Anything you can point to like software bookings or other activity you're seeing would be great.

好的。謝謝你。最後，您提到十月是一個好的開始。您可以指出的任何內容（例如軟體預訂或您看到的其他活動）都會很棒。

I think, you know, it's, it's off to a good start like like most of our courses. You know, we're confident in our guidance. We're, we're hunting a couple whales out there. You know, we have to bring one maybe two of those in by year end. It's those bigger deals. It's always interesting that the gates you have to get through in order to get them all signed off and, and ink, but we're going to get them just a question of when. So stay tuned.

我想，你知道，就像我們的大多數課程一樣，這是一個好的開始。你知道，我們對我們的指導充滿信心。我們正在那裡捕獵幾頭鯨魚。你知道，我們必須在年底前引進其中的一個或兩個。這是那些更大的交易。有趣的是，你必須通過大門才能讓它們全部簽字並簽署，但我們要得到它們只是一個時間問題。所以請繼續關注。

Sounds good. Okay, excellent. Well, thank you for the update and really nice quarter.

聽起來不錯。好的，非常好。嗯，感謝您的更新和非常好的季度。

Thank you, Kyle.

謝謝你，凱爾。

Ladies and gentlemen, just a reminder. If you would like to ask a question, you're welcome to Press Star. And then one, the next question we have is from John Dixon as a private investor. Please go ahead.

女士們先生們，只是提醒一下。如果您想提問，歡迎您來到新聞之星。然後，我們的下一個問題來自私人投資者約翰·迪克森。請繼續。

Hello, everyone. Can you hear me?

大家好。你聽得到我嗎？

You can?

你可以？

Awesome. I just have a quick question. So I've been with you kind of throughout all this restructuring process you've been going through and I have a question about the gen a pager and the page return. The decreases you're seeing in the pagers. What is that related to if it's not being replaced by the gen a pager? Is it related to lower employee counts from from the companies that you're with? Or is there another device that's taking the place in the communication system from the pager itself?

驚人的。我有一個簡單的問題。因此，我一直在您經歷的整個重組過程中與您同在，我有一個關於生成尋呼機和頁面返回的問題。您在尋呼機中看到的減少。如果它沒有被尋呼機取代，那又有什麼關係呢？這是否與您所在公司的員工人數減少有關？或者是否有其他設備在通訊系統中取代尋呼機本身？

Well, you know, over the years, what we've seen John is that, you know, these paging customers in these large hospitals may have, you know, 5,000 pagers and then they go for six months and now it's, you know, 40,750 pagers, you know, it's slowly going down. We're seeing about a 4.5% 5% churn on an annual basis. On the units and what we're doing and we're working hard on this is we're trying to offset that with revenue based initiatives. So we call it average revenue per unit. One is the gen A pager which gets a couple bucks more per month per pager. The other is some technology that we're bringing to bear. And, and that we'll be focusing on in the first quarter of 2025.

嗯，你知道，多年來，我們看到約翰是，你知道，這些大醫院的這些尋呼客戶可能有，你知道，5,000 個尋呼機，然後他們使用了六個月，現在，你知道， 40,750 個尋呼機，你知道，它正在慢慢減少。我們發現每年的流失率約為 4.5% 至 5%。在單位和我們正在做的事情上，我們正​​在努力做到這一點，我們正試圖透過基於收入的舉措來抵消這一點。所以我們稱之為每單位平均收入。一種是 A 代尋呼機，每個尋呼機每個月可以多花幾美元。另一個是我們正在應用的一些技術。我們將在 2025 年第一季重點關注這一點。

That kind of makes the pagers almosARPUt a two way type device when you combine them up with, with some applications that we have on the, on the mobile devices, the iphone and the Android. And the other thing is we've changed the compensation incentives for the wireless sales team to be revenue focused, not unit focused so that they're really focused on maintaining revenue in those large accounts. And there's lots of ways they can do that. We've got, you know, a couple options for them to get higher ARPU or, or kind of have a take or pay type contract.

當您將尋呼機與行動裝置（iPhone 和 Android）上的一些應用程式結合時，這使得尋呼機幾乎成為雙向類型的裝置。另一件事是，我們改變了無線銷售團隊的薪酬激勵措施，使其以收入為中心，而不是以單位為中心，以便他們真正專注於維持這些大客戶的收入。他們有很多方法可以做到這一點。你知道，我們為他們提供了幾種選擇來獲得更高的 ARPU，或者簽訂照付不議類型的合約。

So we're focused on that as well because that impacts their, their commission, their pocketbook. And we found that's been a good driver of performance. So, you know, paging is not going to be a growth business, but it's still very much valued by these emergency service providers and health care. And when the hurricane tore through Florida, most of the cellular telephone systems were down and our paying systems were working just fine, I think out of our 60 or so the transfers we had down there, we had three or four off the air at any given time. And since we simulcast it really has no effect on the quality of the signal on the network. So, you know, page is going to be around for a long time. It's not going to be a growth engine. Our software business is a growth engine and fortunately, software is growing at a faster rate than Ping is declining. So the company net net, our total basis is growing and, and we're very profitable while we, while we do that.

所以我們也關注這一點，因為這會影響他們的佣金和他們的錢包。我們發現這是性能的良好驅動力。所以，你知道，尋呼不會成為一項成長業務，但這些緊急服務提供者和醫療保健部門仍然非常重視它。當颶風席捲佛羅裡達州時，大多數行動電話系統都癱瘓了，我們的付費系統運行得很好，我想在我們在那裡進行的大約 60 個轉接中，有三到四個隨時停止廣播。時間。而且由於我們是聯播，它實際上對網路訊號的品質沒有影響。所以，你知道，頁面將會存在很長一段時間。它不會成為成長引擎。我們的軟體業務是一個成長引擎，幸運的是，軟體的成長速度快於 Ping 的下降速度。因此，公司淨淨額，我們的整體基礎正在成長，而且，當我們這樣做時，我們的利潤非常豐厚。

That sounds good. Vince, thank you for that explanation. And then I just have one last question. Earlier in the year, you guys spoke about a a cloud software solution that you were building out for the smaller hospitals. And can you kind of follow up on that? How is that going?

聽起來很好。文斯，謝謝你的解釋。我還有最後一個問題。今年早些時候，你們談到了為小型醫院建立的雲端軟體解決方案。能跟進一下嗎？進展如何？

Yeah, it's here now, it's available. I think we sold, we haven't sold a ton of, we sold about five of them. The smaller hospitals are still a little bit slow to adopt and what we're finding is it's generally a resource type thing. You go in, you pitch it and it looks great, but they don't have anybody to work on the project and get it going. So we're going to continue helping them, continue working with them. What we don't want to do is go to a small hospital, small health care facility and end up with a big professional services engagement where we gotta put staff there because they a they can't afford it. And b we'd lose money on that. We are very sensitive about our professional services group. It's been increasing its profitability every year under Mike's great leadership. And so we, we don't want to do things that don't make sense for us financially. So we're still learning to be totally blunt about it, about that smaller market and we expect to see improvements there in the coming year.

是的，它現在就在這裡，可用。我想我們賣了，我們還沒有賣掉很多，我們賣了大約五個。較小的醫院採用起來仍然有點慢，我們發現這通常是一個資源類型的事情。你進去，你推銷它，它看起來很棒，但他們沒有任何人來處理這個專案並讓它繼續下去。因此，我們將繼續幫助他們，並​​繼續與他們合作。我們不想做的是去一家小醫院、小型醫療機構，最終需要大量的專業服務，我們必須在那裡安置工作人員，因為他們負擔不起。我們會因此賠錢。我們對我們的專業服務團隊非常敏感。在麥克的卓越領導下，該公司的獲利能力逐年提高。所以我們不想做那些對我們經濟來說沒有意義的事。因此，我們仍在學習如何完全直言不諱地對待這個較小的市場，我們希望在來年看到那裡的改進。

Well, that sounds great, Vince and that's all I got for you. Thank you so much.

嗯，聽起來不錯，文斯，這就是我給你的全部信息。太感謝了。

Thank you John.

謝謝約翰。

The next question we have is from George Miller of MJH Management. Please go ahead.

我們的下一個問題來自 MJH Management 的 George Miller。請繼續。

Thank you. Good afternoon. Thanks for taking my questions.

謝謝。午安.感謝您回答我的問題。

Quick question on the software operations booking. It seems to be higher but also more consistent. This, this year first quarter was eight, then was nine. Now it's over 10, help us understand, not just the fact that it's growing, but the fact that it seems like it's more consistent.

關於軟體操作預訂的快速問題。它似乎更高，但也更一致。今年第一季是八個，然後是九個。現在已經超過 10，幫助我們理解，不僅是它在成長，而且它看起來更一致。

George, I, Think that's part coincidence because the the the thing about the software bookings is if you get like we got two big wells, we got on the table right now, we're trying to bring in and land. If we get one of those, it it's skew, you know, it skews it in a given quarter or sometimes you get two of them in one month and then that, that skews it so it has been consistent. What, what I can tell you is we're very comfortable. We said we'd have double digit, you know, bookings growth this year, I think last year we did like $30.5 million in software operations, bookings. That's, that's going to increase more than 10% for this year. And we'll see something similar to that. We hope maybe better when we do our guidance in at the end of February for, for 2025.

喬治，我，認為這部分是巧合，因為有關軟體預訂的事情是，如果你覺得我們有兩個大井，我們現在就擺在桌面上，我們正​​在嘗試引入並著陸。如果我們得到其中一個，它就會出現偏差，你知道，它會在給定的季度內出現偏差，或者有時你會在一個月內得到其中兩個，然後，這就會出現偏差，因此它是一致的。我可以告訴你的是我們很舒服。我們說過今年的預訂量成長將達到兩位數，我想去年我們的軟體營運和預訂量確實達到了 3,050 萬美元。也就是說，今年的增幅將超過 10%。我們將會看到類似的情況。我們希望，當我們在 2 月底制定 2025 年指導時，情況可能會更好。

Okay, great. Makes sense. And and how does that flow through to maintenance? How long does it take to flow through maintenance? Because you had this nice increase in bookings, but your maintenance, at least it's flat, it's not declining at all. I guess over a year it's up a little bit but it should flow relatively quickly, right? To, to maintenance.

好的，太好了。有道理。以及如何進行維護？維護流程需要多長時間？因為你的預訂量有了很大的成長，但你的維護，至少是持平的，根本沒有下降。我想一年多了它會上漲一點，但它應該會相對較快地流動，對嗎？去，去維護。

Yeah, George, hey, this is Calvin from a, from a [maintenance] flow through perspective, obviously, you know, it depends on what the, what the mix of the operations bookings is in in total, but the maintenance starts flowing through immediately. But we obviously amortize that over over the, the life of the contract. So when you're looking at it on a year-to-date basis, obviously, it's dependent upon when it was sold. There's a big difference if it was sold in January versus December. You know, if you're comparing those from one year to the next. So, you know, give or take, I'd say about 6 to 12 months from the time it's booked, you're probably going to have an apples to apples comparison from one year to the next.

是的，喬治，嘿，這是卡爾文，從[維護]流程的角度來看，顯然，你知道，這取決於操作預訂的總體組合，但維護開始流動立即地。但我們顯然會在合約有效期限內攤銷這筆費用。因此，當您從今年至今的基礎上查看它時，顯然，它取決於它的出售時間。如果一月和十二月出售的話，差別很大。你知道，如果你比較一年與隔年的情況。所以，你知道，無論多少，我想說的是，從預訂之日起大約 6 到 12 個月，你可能會從一年到下一年進行同類比較。

Okay, great. And then just maybe a very broad question from a competitive perspective. Are you seeing any, any changes, any any any, are you strengthening your position now that you're really truly, truly focused on your, on your care connect suite?

好的，太好了。從競爭的角度來看，這可能是一個非常廣泛的問題。您是否看到任何變化，任何任何變化，您是否正在加強自己的地位，因為您真的非常非常專注於您的護理連接套件？

Yeah, I think we're strengthening our position. With respect to our traditional competition and our traditional competitor based storage. We've got, you know, when, when we kind of break out how we look at the business, we've got on call scheduling type competitors and, and we, we hold the on call schedule, we've got clinical alerting, you know, systems out there that we compete with and we do that well as well. And then you have the traditional care coordination and secure messaging competitors.

是的，我認為我們正在加強我們的地位。關於我們的傳統競爭和基於傳統競爭對手的儲存。我們有，你知道，當我們打破我們對業務的看法時，我們有隨叫隨到的競爭對手，而且我們有隨叫隨到的時間表，我們有臨床警報，你知道，我們與之競爭的系統，我們也做得很好。然後你就有傳統的護理協調和安全訊息傳遞的競爭對手。

Not much has changed in that arena, the one place we are seeing some changes in the competitive landscape. And I think it could be a great opportunity for us. We're, we're hard down focused on this right now is a lot of the customer experience. UCaaS, CCaaS type large vendors out there. Looking to replace an incumbent PBX systems and hospitals. I think there's an opportunity to use our operator console with those systems going forward and and put an A I front end on it from a, from an operator standpoint. And I think we could have a really nice package there. So we're, we're talking about partnering there. We're, we're having these conversations now. So I think that's an opportunity for us.

這個領域沒有太大變化，但我們看到競爭格局發生了一些變化。我認為這對我們來說可能是一個很好的機會。我們現在非常關注客戶體驗。UCaaS、CCaaS 類型的大型供應商。尋求更換現有的 PBX 系統和醫院。我認為有機會將我們的操作員控制台與這些系統一起使用，並從操作員的角度來看，在其上放置人工智慧前端。我認為我們可以在那裡有一個非常好的一攬子計劃。所以我們正在談論在那裡的合作。我們現在正在進行這些對話。所以我認為這對我們來說是一個機會。

Okay. That's really interesting.

好的。這真的很有趣。

Thank you very much.

非常感謝。

Thank you George.

謝謝喬治。

At this time, there are no further questions and I would like to turn the floor back over to Vince Kelly for closing comments.

目前，沒有其他問題了，我想將發言權轉回給文斯凱利（Vince Kelly）進行總結評論。

Thank you all very much for your support. We look forward to speaking with you at the end of February when we release our fourth quarter results and issue our 2025 financial guidance. Everyone have a great evening.

非常感謝大家的支持。我們期待在 2 月底與您交談，屆時我們將發布第四季度業績並發布 2025 年財務指引。大家都度過了一個美好的夜晚。

This concludes today's conference. Thank you for joining us. You may now disconnect your lines.

今天的會議到此結束。感謝您加入我們。現在您可以斷開線路。