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Monica Webb - Senior Director, Investor Relations
Monica Webb - Senior Director, Investor Relations
Welcome to Tucows' question & answer dialogue for Q4 2023. Elliot Noss, President and Chief Executive Officer, will be responding to your questions. For your convenience, this audio file is also available as a transcript in the Investors section of our website along with our Q4 2023 financial results and updated reports. I would also like to remind investors that if you would like to receive our quarterly reports and Q&A via e-mail, please make the request to IR@tucows.com.
歡迎來到 Tucows 2023 年第四季的問答對話。總裁兼執行長 Elliot Noss 將回答您的問題。為了您的方便，我們網站的投資者部分也提供了此音訊檔案的文字以及我們的 2023 年第四季財務業績和更新報告。我還想提醒投資者，如果您希望透過電子郵件接收我們的季度報告和問答，請向IR@tucows.com提出請求。
Please note that the following discussion may include forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially. These risk factors are described in detail in the company's documents filed with the SEC, specifically the most recent reports on Forms 10-Q and 10-K. The company urges you to read its security filings for a full description of the risk factors applicable to its business.
請注意，以下討論可能包含前瞻性陳述，這些陳述存在可能導致實際結果有重大差異的風險和不確定性。這些風險因素在公司向 SEC 提交的文件中進行了詳細描述，特別是最新的 10-Q 和 10-K 表格報告。該公司敦促您閱讀其安全文件，以獲取適用於其業務的風險因素的完整描述。
Today's commentary includes responses to questions submitted to us following the prerecorded management remarks regarding the quarter and outlook for the company. We are grouping similar questions into categories that we feel are addressing common queries. If your questions reach a certain threshold or volume, we may ask you to schedule a call instead to ensure we can address the full body of your questions. And if you feel that the recorded questions and/or any direct e-mail you may receive do not address the full meat of your questions, please let us know. Go ahead, Elliot.
今天的評論包括對在預先錄製的有關公司季度和前景的管理層評論之後提交給我們的問題的答复。我們將類似的問題分為我們認為可以解決常見問題的類別。如果您的問題達到一定的閾值或數量，我們可能會要求您安排一次通話，以確保我們能夠解決您的全部問題。如果您認為記錄的問題和/或您可能收到的任何直接電子郵件無法解決您的全部問題，請告訴我們。繼續吧，艾利歐特。
Elliot Noss - President, Chief Executive Officer, Director
Elliot Noss - President, Chief Executive Officer, Director
Thank you, Monica, and welcome to our Q&A for our fourth quarter 2023 financial results. First, I wanted to talk a bit about the recent announcement of our partnership in Orange Domains. Orange Domains is a joint venture with Trust Machines and Hiro Systems that hopes to seamlessly connect domain names, identity, and Web3. I've been looking at the intersection between the Open Internet and Web3 for some years, and our partners here see the same future we do: one where elements of identity and functionality related to it rest on both sides and need to work together seamlessly.
謝謝您，莫妮卡，歡迎來到我們關於 2023 年第四季財務業績的問答。首先，我想談談我們最近宣布的與 Orange Domains 的合作關係。Orange Domains 是 Trust Machines 和 Hiro Systems 的合資企業，希望無縫連接網域、身分和 Web3。多年來，我一直在研究開放網路和 Web3 之間的交叉點，我們的合作夥伴看到了與我們相同的未來：與之相關的身份和功能元素位於雙方，並且需要無縫協作。
In this venture, we're providing our expertise in DNS and web registry and our reseller channel. Trust Machines and Hiro are bringing their phenomenal expertise in Web3. It's also worth noting that Don Ruiz, a seven-plus-year Tucows alum is the GM at Orange Domains. This is a long-term initiative, and we're a minority partner.
在這個專案中，我們將提供 DNS 和網路註冊以及經銷商通路的專業知識。Trust Machines 和 Hiro 正在帶來他們在 Web3 方面非凡的專業知識。另外值得注意的是，在 Tucows 工作了七年多的 Don Ruiz 是 Orange Domains 的總經理。這是一項長期舉措，我們是少數合作夥伴。
We had a few questions about Ting on partner economics and a recurring question on our go-to-market strategy. In our investor communications last year, we talked about long-term margins in this business for a mature, loaded footprint at being in the 60% to 70% range. Each partner deal is different and depends on the level of guarantee, whether the fee is per address or per customer, who pays for the drop and install, and other nuances.
我們對 Ting 提出了一些關於合作夥伴經濟學的問題，以及關於我們的市場進入策略的反覆出現的問題。在去年的投資者溝通中，我們談到了該業務成熟、負載足跡的長期利潤率在 60% 至 70% 範圍內。每個合作夥伴的交易都是不同的，並且取決於保證等級、費用是按地址收費還是按客戶收費、誰支付下降和安裝費用以及其他細微差別。
At the very highest level, with a gross oversimplification, you can think of the partner and the ISP splitting revenue 50/50. One could apply that to the above, and based on our current contracts and existing experience, see long-term margins on mature partner networks in the 30% to 35% range. This will generally be before the real overhead component of national costs, which we cannot turn into a relative number without making a bunch of assumptions. I hope this helps.
在最高層級上，如果過於簡單化，您可以認為合作夥伴和 ISP 按 50/50 分配收入。人們可以將這一點應用於上述情況，並根據我們目前的合約和現有經驗，成熟合作夥伴網路的長期利潤率在 30% 到 35% 範圍內。這通常是在國家成本的實際間接費用部分之前，如果不做出一系列假設，我們就無法將其轉化為相對數字。我希望這有幫助。
We also had the recurring question around our go-to-market strategy. It reads, initially, it seemed the goal was to target rural locations where Ting would have no direct fiber competition. Now it seems we are running towards more competitive market. I've answered this question regularly and will again. There are two elements, rural and competition.
我們也經常遇到有關我們的上市策略的問題。最初的目標似乎是針對農村地區，因為那裡的光纖沒有直接的競爭。現在看來我們正走向競爭更加激烈的市場。我已經定期回答這個問題，也會再回答。有兩個要素：鄉村和競爭。
We've never pursued rural markets. We are mostly in suburban areas, but our filter, whether urban or suburban, is density. Rural fiber will generally need to be subsidized and we are unlikely to be terribly active there.
我們從來沒有開拓過農村市場。我們大部分都在郊區，但我們的過濾器，無論是城市還是郊區，都是密度。農村光纖通常需要補貼，我們不太可能在那裡非常活躍。
In terms of competition, again, nothing has changed. We have the same view of fiber competition we always have had. One network makes sense. Multiple networks are much more difficult. We avoid them in all ways possible.
就競爭而言，一切都沒有改變。我們對纖維競爭有著一致的看法。一個網路是有意義的。多個網路要困難得多。我們以一切可能的方式來避免它們。
I refer the questioner back to our recent decision to pull out of Mesa. We wonder if the questioner is referring to Colorado Springs and note that the first deal announced there was ours in partnership with the local utility. Accordingly, the question is more appropriately put to those who made follow-up announcements, but we note that in our experience, virtually every rational provider use Ting similarly and usually saner heads prevail. Thank you for listening to our Q&A, and a reminder that if you feel that the recorded answers or any direct e-mail you receive do not address your question, please follow up with us at IR@tucows.com.
我請提問者回顧我們最近退出梅薩的決定。我們想知道提問者是否指的是科羅拉多斯普林斯，並注意到宣布的第一筆交易是我們與當地公用事業公司合作的。因此，這個問題更適合向那些做出後續公告的人提出，但我們注意到，根據我們的經驗，幾乎每個理性的提供者都類似地使用 Ting，並且通常理智的人佔上風。感謝您收聽我們的問答，並提醒您，如果您認為錄製的答案或收到的任何直接電子郵件無法解決您的問題，請透過 IR@tucows.com 與我們聯繫。