TOMI Environmental Solutions Inc (TOMZ) 2022 Q4 法說會逐字稿

Good afternoon, and welcome to the TOMI Environmental fourth-quarter and year-end 2022 earnings conference call. (Operator Instructions) It is now my pleasure to turn the floor over to your host, John Nesbett from IMS Investor Relations. John, the floor is yours.

下午好，歡迎來到 TOMI Environmental 2022 年第四季度和年底收益電話會議。 （操作員說明）現在我很高興將發言權交給主持人 IMS Investor Relations 的 John Nesbett。約翰，地板是你的。

Good afternoon. Thank you for joining us today for the TOMI Environmental Solutions investor update conference call. On today's call is TOMI's CEO and Chairman of the Board, Dr. Halden Shane; TOMI's Chief Operating Officer, E.J. Shane; and TOMI's Chief Financial Officer, Nick Jennings.

下午好。感謝您今天加入我們的 TOMI 環境解決方案投資者更新電話會議。參加今天電話會議的是 TOMI 的首席執行官兼董事會主席 Halden Shane 博士； TOMI 的首席運營官 E.J.肖恩；和 TOMI 的首席財務官 Nick Jennings。

Dr. Shane will provide an overview of recent business highlights. E.J. will report on the company's growth and latest trends, and Nick will review the financial performance for the most recent quarter before addressing any questions you may have.

Shane 博士將概述近期的業務亮點。 E.J.將報告公司的發展和最新趨勢，Nick 將回顧最近一個季度的財務業績，然後再回答您可能提出的任何問題。

A telephone replay of today's call will be available through March 30, 2023, the details of which are included in the company's press release dated March 13, 2023. A webcast replay will also be available at TOMI's website, www.tomimist.com.

今天電話會議的電話重播將在 2023 年 3 月 30 日之前提供，其詳細信息包含在公司日期為 2023 年 3 月 13 日的新聞稿中。網絡直播重播也將在 TOMI 的網站 www.tomimist.com 上提供。

Please note that information contained within this presentation is relevant only to the day of which it was recorded, March 16, 2023. And we're, therefore, advised that time-sensitive information may no longer be accurate at the time of any replay.

請注意，本演示文稿中包含的信息僅與其記錄之日 2023 年 3 月 16 日相關。因此，我們被告知，時間敏感的信息在重播時可能不再準確。

Certain written and oral statements made by management of TOMI may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements should be evaluated in light of important risk factors that could cause any actual results to differ materially from our anticipated results.

TOMI 管理層作出的某些書面和口頭陳述可能構成 1995 年《私人證券訴訟改革法案》中定義的前瞻性陳述。應根據可能導致任何實際結果不同的重要風險因素對這些前瞻性陳述進行評估實質上來自我們的預期結果。

The information provided in this conference call is based upon the facts and circumstances known at this time. The company undertakes no obligation to update these forward-looking statements after the date of this call.

本次電話會議中提供的信息基於目前已知的事實和情況。公司不承擔在本次電話會議之後更新這些前瞻性陳述的義務。

In addition, TOMI will discuss certain non-GAAP financial measures during this call. The company uses non-GAAP measures because it believes they provide useful information about the operating performance that could be considered by investors in conjunction with the GAAP measures. A reconciliation of these non-GAAP measures to comparable GAAP measures is included in the earnings release dated March 16, 2023.

此外，TOMI 將在本次電話會議期間討論某些非 GAAP 財務措施。該公司使用非 GAAP 指標，因為它認為它們提供了有關經營業績的有用信息，投資者可以結合 GAAP 指標來考慮這些信息。日期為 2023 年 3 月 16 日的收益發布中包含了這些非 GAAP 措施與可比較的 GAAP 措施的對賬。

I will now turn the call over to TOMI's Chairman and Chief Executive Officer, Dr. Halden Shane. Please go ahead.

我現在將電話轉交給 TOMI 的董事長兼首席執行官 Halden Shane 博士。請繼續。

Good afternoon, everyone. Thank you for joining the TOMI Environmental earnings call. Today, we will provide operating and financial results for Q4 and full year 2022, along with a favorable update on a few key current focuses of the company. This was a good quarter for us, capping off a very important year for TOMI Environmental.

大家下午好。感謝您加入 TOMI 環境收益電話會議。今天，我們將提供第四季度和 2022 年全年的經營和財務業績，以及對公司當前幾個關鍵重點的有利更新。這對我們來說是一個很好的季度，結束了 TOMI Environmental 非常重要的一年。

GAAP revenue grew 40% for the quarter and 8% for the year. We realized efficiencies in the business and in the fourth quarter significantly reduced our losses and reported a very small adjusted EBITDA loss of only $268,000, as we continue to make substantial progress to achieve a breakeven in our financial results. Let me provide a snapshot of a few key takeaways of why I think this quarter is very exciting.

本季度 GAAP 收入增長 40%，全年增長 8%。我們實現了業務效率的提高，並且在第四季度顯著減少了我們的損失，並報告了非常小的調整後 EBITDA 損失，僅為 268,000 美元，因為我們繼續取得實質性進展以實現財務業績的盈虧平衡。讓我簡要介紹一下為什麼我認為本季度非常令人興奮。

First, our business has improved, with more revenue coming from large custom systems, which we refer to as CES. These are larger longer-term orders which give us improved visibility to our growth, also growth in our CES customer base.

首先，我們的業務有所改善，更多收入來自大型定制系統，我們稱之為 CES。這些是更大的長期訂單，使我們能夠更好地了解我們的增長，以及我們 CES 客戶群的增長。

And to an extent, our new mobility customers accelerate the growth of our higher-margin BIT solution sales, as we continue to see positive signs in the marketplace, as our fourth-quarter solution sales grew by 31% compared to our prior-year fourth quarter. Facilities that install custom permanent units generally don't make such large investments unless they plan to use the system as required.

在某種程度上，我們的新移動客戶加速了我們利潤率更高的 BIT 解決方案銷售的增長，因為我們繼續在市場上看到積極的跡象，因為我們第四季度的解決方案銷售額與去年第四季度相比增長了 31%四分之一。安裝定制永久單元的設施通常不會進行如此大的投資，除非他們計劃根據需要使用該系統。

Second, as our initial CES was installed a while ago, interest in our fully automated decontamination system is the request of many today. We are just really starting to lift off. As they say, there's no substitute for hard work, and there's no such thing as an overnight success.

其次，由於我們最初的 CES 是在不久前安裝的，因此今天許多人都希望對我們的全自動淨化系統感興趣。我們才真正開始起飛。正如他們所說，沒有什麼可以替代努力工作，也沒有一夜成名這回事。

We are at the point where the bigger life science companies know us and trust us, and our referral customers are some of the top 25 companies in the life science world. We have worked extremely hard to get accepted by these companies. On today's call, I have asked E.J., TOMI's COO to join and explain in detail the process the team undergoes to win these accounts and excitement that surrounds them for the company's future growth.

我們正處在更大的生命科學公司了解我們並信任我們的地步，我們的推薦客戶是生命科學界排名前 25 位的公司中的一些。為了被這些公司接受，我們付出了極大的努力。在今天的電話會議上，我已邀請 TOMI 的首席運營官 E.J. 加入並詳細解釋團隊為贏得這些客戶所經歷的過程以及圍繞他們對公司未來發展的興奮。

Third, in the fourth quarter, you can see the strength of the economic engine we are creating. You can begin to see how we are on the cusp of sustained profitability. Why? Well, we have better long-term visibility, better than we have ever had. Two, gross margins are ticking up a bit, given revenue mix.

第三，在第四季度，你可以看到我們正在創造的經濟引擎的力量。您可以開始看到我們如何處於持續盈利的風口浪尖。為什麼？嗯，我們有更好的長期能見度，比以往任何時候都好。第二，考慮到收入組合，毛利率略有上升。

Three, our SGA (sic - "SG&A") came down substantially, even with increase in hiring. We have really focused on cutting expenses and ensure efficiencies. For example, we have utilized more engineering in-house rather than using outside firms. We believe our SG&A will grow much slower than revenue.

第三，我們的 SGA（原文如此 - “SG＆A”）大幅下降，即使招聘人數增加。我們真正專注於削減開支和確保效率。例如，我們更多地使用內部工程而不是使用外部公司。我們相信我們的 SG&A 增長將比收入增長慢得多。

Finally, our adjusted EBITDA was just below breakeven, and it won't take much to move to sustained EBITDA and net income profitability. We are truly on the cusp, assuming that active pipeline stays robust.

最後，我們調整後的 EBITDA 剛好低於盈虧平衡點，不需要太多時間就能實現持續的 EBITDA 和淨收入盈利能力。假設活躍的管道保持穩健，我們真的處於風口浪尖。

The CES product line is a long sales cycle and becomes more of a partnership with the end-user company. Company's growth has now expanded to the management of not only current mobile unit sales, but a backlog of orders, and the management of this business aspects allows revenue to be recognized in future quarters.

CES產品線銷售週期長，更多的是與終端用戶公司的合作關係。公司的增長現已擴展到不僅管理當前的移動設備銷售，還管理積壓的訂單，並且該業務方面的管理允許在未來幾個季度確認收入。

Our customer orders or contracts for mobile equipment, CES systems, and iHP services are subject to the delivery timelines demanded by our customers, which in turn affect the timing of the related revenue recognition. Our recognized revenue, when combined with our sales orders backlog for the year ended December 31, 2022, together, was approximately $10.4 million, which represents one of the best years we have had to date. The $10.4 million was comprised of recognized revenue of $8,338,000 and our customer sales backlog of $2,024,000 as of December 31, 2022.

我們的移動設備、CES 系統和 iHP 服務的客戶訂單或合同受我們客戶要求的交付時間表的約束，這反過來會影響相關收入確認的時間。我們確認的收入，加上我們截至 2022 年 12 月 31 日止年度的積壓銷售訂單，總計約為 1040 萬美元，這是我們迄今為止最好的年份之一。截至 2022 年 12 月 31 日，這 1,040 萬美元包括已確認收入 8,338,000 美元和我們的客戶銷售積壓訂單 2,024,000 美元。

During our 2022 calendar year, we received over $10 million in customer sales orders, some of which were received from key global Fortune 500 customers. This represents 22% growth when compared to our calendar 2021. Increase in sales orders is largely attributable to increased demand for our CES and mobile equipment orders primarily from our life sciences, commercial, and food safety sectors.

在我們的 2022 日曆年，我們收到了超過 1000 萬美元的客戶銷售訂單，其中一些來自全球財富 500 強的主要客戶。與我們的日曆 2021 年相比，這代表了 22% 的增長。銷售訂單的增加主要歸因於對我們的 CES 和移動設備訂單的需求增加，主要來自我們的生命科學、商業和食品安全部門。

Our 2022 fourth-quarter revenue was $2,812,000, up 40% compared to our reported fourth-quarter sales in 2021. Our revenue for the fourth quarter of 2022 grew 60% sequentially over what we reported in the third quarter of 2022. From a sales volume perspective, this was the best stand-alone quarter resulting that we have achieved since 2020. Increase in sales is largely attributable to increased demand from our CES systems and our internal tech team's ability to execute and deliver the systems in the fourth quarter of 2022.

我們 2022 年第四季度的收入為 2,812,000 美元，與我們報告的 2021 年第四季度銷售額相比增長了 40%。我們 2022 年第四季度的收入比我們在 2022 年第三季度報告的收入環比增長了 60%。從銷量來看從角度來看，這是我們自 2020 年以來取得的最好的獨立季度業績。銷售額的增長主要歸因於我們的 CES 系統需求增加以及我們的內部技術團隊在 2022 年第四季度執行和交付系統的能力。

In 2022, we also saw a growth in our sales results of our mobile equipment orders due to our expanded product line. Last quarter, we installed two systems and the applicator portion of the other CES order, recognizing revenue and maintaining timeline as reported.

2022 年，由於我們擴大了產品線，我們的移動設備訂單的銷售業績也有所增長。上個季度，我們安裝了兩個系統和另一個 CES 訂單的塗抹器部分，確認收入並維護報告的時間表。

The building contractors are delayed on their end for two of the three systems referenced. Thus, the full amount of BIT solution previously reported to be projected for the year has been delayed by a quarter -- due to reasons outside of TOMI's control and commissioning to the systems are now slightly delayed.

所引用的三個系統中的兩個系統的建築承包商被推遲了。因此，之前報告的今年預計的 BIT 解決方案總量已經推遲了四分之一——由於 TOMI 無法控制的原因，系統的調試現在略有延遲。

Winning additional bids for the CES has remained high priority, and we will soon announce these wins as they come in throughout the years. Approximately 400,000 in bookings were received at the end of last year for an ongoing project that automates the entire cell therapy manufacturing process from start to finish.

贏得 CES 的額外投標仍然是重中之重，我們將很快宣布這些年來的中標情況。去年年底，一個正在進行的項目收到了大約 400,000 筆預訂，該項目使整個細胞療法製造過程從頭到尾自動化。

This integration of iHP will automate decontamination throughout all stages of the cell therapy process, ensuring a full-coverage 6-log kill. We are on schedule for delivery this summer with multiple prototype systems and hope to, soon, publicly announce the partnership as the sole decontamination method for this cell therapy system.

iHP 的這種集成將在細胞治療過程的所有階段自動進行去污，確保全覆蓋 6-log 殺滅。我們按計劃於今年夏天交付多個原型系統，並希望很快公開宣布合作夥伴關係作為該細胞治療系統的唯一去污方法。

In addition, we are streamlining our superior product for life science industry by providing a simplified solution for decontamination chambers, cage washers, and modular clean rooms, in which we will be in production shortly. SteraMist disinfection decontamination is needed for laboratories to adhere to strict regulations and guidelines within the industry.

此外，我們正在通過為淨化室、籠式清洗機和模塊化潔淨室提供簡化的解決方案來簡化我們用於生命科學行業的優質產品，我們將很快投入生產。實驗室需要 SteraMist 消毒去污，以遵守行業內嚴格的法規和準則。

As we have learned from COVID-19 pandemic, our product can reduce and eliminate the spread of infectious diseases. Our TOMI service network providers continue to combat outbreaks in their local areas against this latest pandemic, as well as bird flu, norovirus, monkeypox, E. coli, and Listeria.

正如我們從 COVID-19 大流行中了解到的那樣，我們的產品可以減少和消除傳染病的傳播。我們的 TOMI 服務網絡提供商繼續在當地抗擊這一最新流行病的爆發，以及禽流感、諾如病毒、猴痘、大腸桿菌和李斯特菌。

TOMI was alerted that one of its TSN providers were providing support for the Ohio train derailment, using SteraMist to disinfect local residential homes and surrounding commercial buildings. Yet another TSN member provided service to a large hospital system, providing them routine disinfection services combating COVID in 2020. And today, this servicing contract remains in effect, combating other pathogens daily.

TOMI 獲悉，其 TSN 供應商之一正在為俄亥俄州的火車脫軌提供支持，使用 SteraMist 對當地住宅和周圍的商業建築進行消毒。另一名 TSN 成員為大型醫院系統提供服務，在 2020 年為他們提供抗擊 COVID 的常規消毒服務。今天，該服務合同仍然有效，每天都在抗擊其他病原體。

As we look to the future, we are advancing business development strategies, with the start of a new growth strategy in domestic distributions. Many agreements are in process and close to being executed and announced, expanding across multiple divisions.

展望未來，我們正在推進業務發展戰略，並開始在國內分銷領域實施新的增長戰略。許多協議正在處理中，即將執行和宣布，擴展到多個部門。

TOMI is establishing partners with well-known distributors in the animal science, life sciences, and further, the commercial divisions, entering into distribution agreements with aligned SteraMist equipment. This domestic distribution strategy will penetrate the domestic market and further SteraMist mobile equipment sales.

TOMI 正在與動物科學、生命科學以及商業部門的知名分銷商建立合作夥伴關係，並與一致的 SteraMist 設備簽訂分銷協議。這一國內分銷戰略將滲透到國內市場並進一步推動 SteraMist 移動設備的銷售。

International market, although a long sales cycle, is expanding and progressing nicely. National Health Services or NHS in Wales was a great win for the company last quarter, as they routinely promote us publicly. In addition, our novel partners in Australia and Germany have made a footprint in their country as well as the surrounding countries.

國際市場雖然銷售週期較長，但正在不斷擴大，進展順利。上個季度，威爾士的國民健康服務 (National Health Services) 或 NHS 對公司來說是一個巨大的勝利，因為他們經常公開宣傳我們。此外，我們在澳大利亞和德國的新合作夥伴已經在他們的國家以及周邊國家留下了足跡。

Ongoing studies remain a focus as we continue to grow internationally and domestically. In Germany, we are undergoing studies to further showcase our efficacy on materials that adhere to strict life science regulations and guidelines. In the United States, we are working with government and contractors to prove effective against ricin and [sentinel] which is critically needed in this country.

隨著我們在國際和國內的不斷發展，正在進行的研究仍然是一個重點。在德國，我們正在進行研究，以進一步展示我們對遵守嚴格的生命科學法規和準則的材料的功效。在美國，我們正在與政府和承包商合作，以證明對蓖麻毒素和 [哨兵] 有效，這是該國急需的。

Other studies include direct spray on cannabis flowers to combat common and fungi, proving no effects on the oil and plant itself. At this moment, SteraMist is reporting successful results, and we hope to finalize these studies and soon share publicly.

其他研究包括直接噴灑在大麻花上以對抗普通真菌和真菌，證明對大麻油和植物本身沒有影響。目前，SteraMist 正在報告成功的結果，我們希望完成這些研究並儘快公開分享。

Food safety use has grown over 653% when comparing 2022 to 2021. New challenges to food safety will continue to emerge largely because of changes in our food production, food supply, storage complexities, transportation delays, including more imported foods.

與 2022 年和 2021 年相比，食品安全使用率增長了 653% 以上。食品安全面臨的新挑戰將繼續出現，這主要是因為我們的食品生產、食品供應、儲存複雜性、運輸延誤（包括更多進口食品）發生了變化。

Changes in environment leads to food contamination, new and emerging bacteria, toxins, and antimicrobial resistance. Food safety presents an opportunity for significant growth for TOMI, with continued product research and compliance testing.

環境變化導致食品污染、新出現的細菌、毒素和抗菌素耐藥性。通過持續的產品研究和合規性測試，食品安全為 TOMI 提供了顯著增長的機會。

Food safety industry in North America is under close scrutiny with the implementation and enforcement of new and established guidelines. SteraMist aerosolizing cold plasma technology is an effective decontaminant in the food safety industry.

北美的食品安全行業正在密切關注新的和既定準則的實施和執行。 SteraMist 霧化冷等離子體技術是食品安全行業的一種有效去污劑。

SteraMist can assist in compliance with the newly established Food Safety Modernization Act guidelines set in place by the FDA, as well as the Safe Food for Canadian Act (sic - see Form 10-K, "Safe Food for Canadians Act") and Safe Food for Canadian Regulations in Canada (sic - see Form 10-K, "Safe Food for Canadians Regulations"). Today's geopolitical aspects of farming and ranching has created an extra layer of concern for the protection of our global limited food supply including food transportation.

SteraMist 可以協助遵守由 FDA 制定的新制定的食品安全現代化法案指南，以及加拿大食品安全法案（原文如此 - 參見表格 10-K，“加拿大人安全食品法案”）和安全食品加拿大的加拿大法規（原文如此 - 請參閱表格 10-K，“加拿大人安全食品法規”）。當今農業和牧場的地緣政治方面對保護我們全球有限的食品供應（包括食品運輸）造成了額外的關注。

TOMI continues to work with premium companies in testing and validating SteraMist technology in the food safety and seed industries. In 2022, we made progress in enhancing brand awareness in food safety industry by promoting and marketing this division. We are receiving an increase in inquiries within the food safety division directly from these efforts.

TOMI 繼續與優質公司合作，在食品安全和種子行業測試和驗證 SteraMist 技術。 2022年，我們通過推廣和營銷該事業部，在提升食品安全行業品牌知名度方面取得了進展。我們直接從這些努力中收到了食品安全部門內部查詢的增加。

Every day, there are news articles around the world pertaining to the contamination of food supply. With the global population explosion, severe worldwide avian flu pandemics resulting in unnecessary choline in bird flocks, unusually high accidents resulting in destruction of over 30 storage facilities, packing and processing plants -- and that's in the US alone -- we anticipate an increase in demand for a mechanical way to disinfect our food supply.

世界各地每天都有關於食品供應污染的新聞報導。隨著全球人口爆炸、嚴重的全球禽流感大流行導致鳥群中產生不必要的膽鹼、異常高的事故導致 30 多個儲存設施、包裝和加工廠被毀——這僅在美國——我們預計會增加需要一種機械方式來對我們的食品供應進行消毒。

TOMI has, in cooperation with the USDA, demonstrated that our technology offers a consistent, quick, and effective alternative to the transition -- traditional decade-old chemical disinfection process. SteraMist will deliver more consistent and quicker results in all areas of our food supply from farm to market, processing to packaging, and storage to delivery.

TOMI 與 USDA 合作，證明我們的技術提供了一種一致、快速和有效的替代方案，可以替代傳統的已有十年之久的化學消毒工藝。 SteraMist 將在從農場到市場、加工到包裝、儲存到交付的所有食品供應領域提供更一致和更快的結果。

We are currently pursuing all these avenues. Continued testing and market demand, coupled with our new BIT 0.35% hydrogen peroxide label, will make pursuing these opportunities successful. In addition, our solution and processes are environmentally friendly in that the by-product of SteraMist is only oxygen and water in the form of humidity. We have our solution listed on OMRI and labeled as organic.

我們目前正在探索所有這些途徑。持續的測試和市場需求，加上我們新的 BIT 0.35% 過氧化氫標籤，將使這些機會獲得成功。此外，我們的解決方案和工藝對環境無害，因為 SteraMist 的副產品只是濕氣形式的氧氣和水。我們在 OMRI 上列出了我們的解決方案並標記為有機。

Most disinfectants leave residues on equipment, furniture, objects, and foods. SteraMist does not leave any chemical residue on any surface. We have a very low carbon footprint, if any, just oxygen and humidity. SteraMist is the perfect product for the global current issues in food safety.

大多數消毒劑會在設備、家具、物品和食物上留下殘留物。 SteraMist 不會在任何表面留下任何化學殘留物。我們的碳足跡非常低，如果有的話，只有氧氣和濕度。 SteraMist 是解決全球當前食品安全問題的完美產品。

We are told we consume too much food, we produce too little food, and our farming screws up the environment. SteraMist is ready to assist in the defense of our food industry from wherever their needs are.

我們被告知我們消耗的食物太多，我們生產的食物太少，我們的農業破壞了環境。 SteraMist 隨時準備根據他們的需求協助保衛我們的食品行業。

I am now turning the call over to TOMI's COO to give additional overview on the CES sales and installation process and TOMI's pipeline. E.J.?

我現在將電話轉給 TOMI 的首席運營官，以提供有關 CES 銷售和安裝流程以及 TOMI 管道的更多概述。 E.J.？

Thank you, Dr. Shane, and good afternoon, everyone. I appreciate the opportunity to report some of TOMI's growth and future trends on today's call. I personally join weekly calls for SteraMist projects for partially or fully automated installs that we have won or plan on closing in the near future, attend trade shows and answer general inquiries for our mobile units across all divisions both domestically and internationally. And there has been a strong transformation in these conversations.

謝謝您，Shane 博士，大家下午好。我很高興有機會在今天的電話會議上報告 TOMI 的一些增長和未來趨勢。我個人每週都會參加我們已經贏得或計劃在不久的將來關閉的部分或全自動安裝的 SteraMist 項目電話會議，參加貿易展覽會並回答我們在國內和國際所有部門的移動設備的一般查詢。這些對話發生了很大的轉變。

I used to have to introduce the science of our technology and the many competitive advantages ionized hydrogen peroxide or iHP has in comparison to new and old products alike. Today, many come to us already knowing our brand SteraMist.

我曾經不得不介紹我們的技術科學，以及與新舊產品相比，電離過氧化氫或 iHP 具有的許多競爭優勢。今天，許多來找我們的人已經知道我們的品牌 SteraMist。

Therefore, conversations now begin: I know your technology is superior and understand the science behind it, so what applications can you offer for a facility that fits our budget? Basically, it becomes a pitch on the equipment and the product line of SteraMist. This makes maintaining interest for SteraMist easier, as we know the versatility of the technology and what our legacy units offer. And now with our experienced team, regarding our custom engineered systems or CES, TOMI is set to offer solutions to these potential opportunities with ease and a knowledge of the process.

因此，現在開始對話：我知道你們的技術很先進，也了解其背後的科學原理，那麼你們可以為符合我們預算的設施提供哪些應用？基本上，它成為了對 SteraMist 設備和產品線的推介。這使得保持對 SteraMist 的興趣變得更容易，因為我們知道該技術的多功能性以及我們的舊設備提供的功能。現在，憑藉我們經驗豐富的團隊，關於我們的定制工程系統或 CES，TOMI 將輕鬆為這些潛在機會提供解決方案，並了解流程。

Earlier this year, we received news of being the global disinfection standard and acceptance for another premier company, which we had already established a strong partnership with in prior years. There have been proposals and purchase orders from significant companies looking to expand their usage of SteraMist throughout multiple facilities globally.

今年早些時候，我們收到了成為全球消毒標準並被另一家一流公司接受的消息，我們在前幾年已經與這家公司建立了牢固的合作夥伴關係。一些重要公司提出了建議和採購訂單，希望在全球多個設施中擴大對 SteraMist 的使用。

To fully win a project for our CES, we must undergo a series of steps. This can be as simple as entering an NDA to share blueprints, and a minimal amount of engineering documents are exchanged, to as complicated as a series of meetings with contractors, engineers, electricians, building and safety management executives, and so forth. Once won, these mini meetings continue weekly and the timing of our delivery or install or even commissioning varies.

為了完全贏得我們 CES 的項目，我們必須經過一系列步驟。這可以像輸入 NDA 以共享藍圖和交換最少量的工程文件一樣簡單，也可以像與承包商、工程師、電工、建築和安全管理主管等舉行一系列會議一樣複雜。一旦獲勝，這些小型會議每週都會繼續，我們交付或安裝甚至調試的時間會有所不同。

The TOMI team was accelerated on a one-applicator SteraMist system to maintain project goals made by the customer, and I'm happy to report that TOMI has met these goals. And by the 27th of this month, the full SteraMist process will be completed, and that's fully recognized into revenue in the first quarter. To date, TOMI has successfully stayed on schedule and budget for implementation of this product line, whether it be the custom design, manufacturing, installation, commissioning, or qualification part of the process.

TOMI 團隊在單點施放器 SteraMist 系統上得到了加速，以保持客戶制定的項目目標，我很高興地報告 TOMI 已經實現了這些目標。到本月 27 日，完整的 SteraMist 流程將完成，這將完全計入第一季度的收入。迄今為止，無論是定制設計、製造、安裝、調試還是流程的鑑定部分，TOMI 都成功地保持了實施該產品線的時間表和預算。

That said, there are forces beyond our control that, at times, make it difficult to specifically predict when we will recognize revenue. As a point of information, the Avid installation has now been delayed until June because the electrical utilities have not been completed by their contractors because they are waiting for building permits to be approved. We are currently working with Avid's marketing team on the case study of their iHP system, which will be released this year, providing the TOMI sales team yet another referral report to use with their open opportunities.

也就是說，有時我們無法控制的力量使我們難以具體預測何時確認收入。作為一個信息點，Avid 安裝現在已推遲到 6 月，因為他們的承包商尚未完成電力設施，因為他們正在等待建築許可的批准。我們目前正在與 Avid 的營銷團隊合作，研究他們的 iHP 系統，該系統將於今年發布，為 TOMI 銷售團隊提供另一份推薦報告，以利用他們的開放機會。

With our custom engineered systems, we deliver the physical system, but we also complete the last steps of commissioning and qualification to the system, which includes supplying the BIT solution. These last steps are critical to our razor-razorblade business model.

通過我們的定制工程系統，我們交付了物理系統，但我們也完成了系統調試和鑑定的最後步驟，其中包括提供 BIT 解決方案。最後這些步驟對我們的剃須刀業務模式至關重要。

For example, and as reported during our last two of our CES systems, we're installed at the end of last year, and we'll produce $250,000 in revenue of BIT solution a year. This holds true that these two systems are delayed for the iHP qualification part of the process until early next year. So full BIT solution reoccurring revenue attributed to these systems will begin to take place early 2024 rather than late this year.

例如，正如我們在最近兩個 CES 系統中所報導的那樣，我們是在去年年底安裝的，我們每年將產生 250,000 美元的 BIT 解決方案收入。確實，這兩個系統的 iHP 資格認證部分被推遲到明年年初。因此，歸因於這些系統的完整 BIT 解決方案的經常性收入將在 2024 年初而不是今年年底開始產生。

Our pipeline is very healthy. We are in ongoing conversations for approximately 25 custom builds, ranging anywhere from $100,000 to $2.5 million in revenue. A simple custom install can equate to $5,000 a year in BIT solution to a multi-applicator system continuous use of $250,000 or more a year in BIT solution. But it all depends on the end user's production facility and, unfortunately, with the many stages to the process and parties involved, timing is out of our control.

我們的管道非常健康。我們正在就大約 25 個定制構建進行持續對話，收入從 100,000 美元到 250 萬美元不等。一個簡單的定制安裝相當於每年 5,000 美元的 BIT 解決方案，而一個多應用系統每年持續使用 250,000 美元或更多的 BIT 解決方案。但這完全取決於最終用戶的生產設施，不幸的是，由於流程的許多階段和涉及的各方，時間是我們無法控制的。

In the life sciences, we are a global standard decontamination solution to many. This is not a statement to take lightly. The interest does not just lie with our custom builds. Becoming accepted by the global leadership of such companies, TOMI's SteraMist becomes easier to be approved by quality and safety alike, meeting new guidelines and keeping to old guidelines.

在生命科學領域，我們是許多人的全球標準去污解決方案。這不是一個可以掉以輕心的聲明。興趣不僅僅在於我們的定制構建。被此類公司的全球領導層所接受，TOMI 的 SteraMist 變得更容易獲得質量和安全方面的認可，既符合新準則又遵守舊準則。

At this time, I believe our fourth-generation environment system just released to our SteraPak model will move faster in this market than we have seen prior years, both domestically and internationally. This will be reflected in year-end revenue and open bookings for 2023, specifically with the parties we are pursuing to become distributors to our SteraMist brand.

此時，我相信我們剛剛發佈到我們的 SteraPak 模型的第四代環境系統將在這個市場上比我們在國內和國際上看到的前幾年更快地移動。這將反映在 2023 年的年終收入和開放預訂中，特別是與我們尋求成為我們的 SteraMist 品牌經銷商的各方。

I would like to take the time to thank all the TOMI employees. We really have grown into an incredible efficient team. And I look forward to the success we will be part of this year and beyond, with the foundation we have set together.

我想花時間感謝所有 TOMI 員工。我們真的已經成長為一支令人難以置信的高效團隊。我期待著我們將憑藉我們共同建立的基礎，在今年及以後取得成功。

Now I'll turn the call over to our CFO, Nick Jennings.

現在我將把電話轉給我們的首席財務官尼克詹寧斯。

Thank you, E.J., and good afternoon, everyone. I'll provide a brief overview of our financial results for the full year 2022 and the fourth quarter of 2022 compared to the prior-year periods.

謝謝你，E.J.，大家下午好。我將簡要概述我們 2022 年全年和 2022 年第四季度與去年同期相比的財務業績。

For the year ended December 31, 2022, compared to December 31, 2021, our consolidated net revenue was $8,338,000 compared to $7,754,000, representing an increase of $584,000 or 8%. Consolidated gross profit was 60.7% compared to 59.2%, representing an increase of 1.5%. The increase in our gross profit was due to our product mix and sales.

截至 2022 年 12 月 31 日止年度，與 2021 年 12 月 31 日相比，我們的綜合淨收入為 8,338,000 美元，高於 7,754,000 美元，增加了 584,000 美元或 8%。綜合毛利為 60.7%，較 59.2% 增加 1.5%。我們的毛利增加是由於我們的產品組合和銷售。

The consolidated operating loss was $2,882,000 compared to $4,924,000, representing a 41% year-over-year decline. The improved operating loss was attributable to higher sales, increased gross profit, and lower operating expenses. Our consolidated net loss was $2,880,000 or $0.15 per basic and diluted share, compared to $4,435,000 or $0.25 per basic share.

綜合運營虧損為 2,882,000 美元，而同期為 4,924,000 美元，同比下降 41%。經營虧損的改善歸因於銷售額增加、毛利增加和經營費用減少。我們的綜合淨虧損為 2,880,000 美元或每股基本股和稀釋後淨虧損 0.15 美元，相比之下為 4,435,000 美元或每股基本股 0.25 美元。

Adjusted EBITDA was a loss of $1,899,000 compared to $4,123,000, representing a year-over-year improvement of 54%. A table reconciling the adjusted EBITDA to the appropriate GAAP financial measure is included with today's press release.

調整後的 EBITDA 為虧損 1,899,000 美元，相比之下為 4,123,000 美元，同比增長 54%。今天的新聞稿中包含一張將調整後的 EBITDA 與適當的 GAAP 財務指標進行核對的表格。

For the year ended December 31, 2022, and 2021, cash used in operations was $1,234,000 and $3,824,000, respectively, representing an improvement of $2,590,000. The improved cash flow from operations was primarily due to our low reportable loss for the year, which declined 35% when compared to the same prior-year period, as well as an increase of our deferred revenue, which is up $700,000.

截至 2022 年 12 月 31 日和 2021 年 12 月 31 日止年度，運營中使用的現金分別為 1,234,000 美元和 3,824,000 美元，增加了 2,590,000 美元。運營現金流的改善主要是由於我們今年的可報告虧損較低，與去年同期相比下降了 35%，以及我們的遞延收入增加了 700,000 美元。

For the three months ended December 31, 2022, compared to December 31, 2021, our consolidated net revenue was $2,812,000 compared to $2,010,000, representing an increase of $802,000 or 40%. Consolidated gross profit was 58.6% compared to 54.5%, representing an increase of 4.1%. The increase in our gross profit was due to our product mix and sales.

截至 2022 年 12 月 31 日的三個月，與 2021 年 12 月 31 日相比，我們的綜合淨收入為 2,812,000 美元，而 2,010,000 美元增加了 802,000 美元，增幅為 40%。綜合毛利由 54.5% 增加 4.1% 至 58.6%。我們的毛利增加是由於我們的產品組合和銷售。

The consolidated operating loss was $706,000 compared to $1,734,000, representing a 59% year-over-year decline. The improved operating loss was due to higher sales, increased gross profit, and lower operating expenses.

綜合運營虧損為 706,000 美元，而同期為 1,734,000 美元，同比下降 59%。營業虧損改善是由於銷售額增加、毛利增加和營業費用減少。

Our consolidated net loss was $705,000 or $0.04 per basic and diluted share compared to $1,735,000 (sic - see press release, "$1,660,000") or $0.10 per basic share. Adjusted EBITDA was a loss of $268,000 compared to $1,573,000, representing a year-over-year improvement of 83%. A table reconciling the adjusted EBITDA to the appropriate GAAP financial measure is included with today's press release.

我們的綜合淨虧損為 705,000 美元，即每股基本股和稀釋後的淨虧損為 0.04 美元，而每股虧損為 1,735,000 美元（原文為“1,660,000 美元”）或每股基本股為 0.10 美元。調整後的 EBITDA 為虧損 268,000 美元，而虧損為 1,573,000 美元，同比增長 83%。今天的新聞稿中包含一張將調整後的 EBITDA 與適當的 GAAP 財務指標進行核對的表格。

Now to move on to the balance sheet. As of December 31, 2022, our cash and cash equivalents were approximately $3.9 million. Deferred revenue was $700,000. Working capital was $8.8 million, and shareholders' equity was $11.4 million.

現在轉到資產負債表。截至 2022 年 12 月 31 日，我們的現金和現金等價物約為 390 萬美元。遞延收入為 700,000 美元。營運資金為 880 萬美元，股東權益為 1140 萬美元。

Now I'd like to turn the call back over to Dr. Halden Shane.

現在我想把電話轉回 Halden Shane 博士。

Thank you, Nick. 2022 was a year of establishing and preparing for considerable future growth of the company.

謝謝你，尼克。 2022年是建立和準備公司未來可觀增長的一年。

We continued growing internal departments with new position and hires, applied and received additional intellectual property, streamlined internal controls, and entered into new agreements for more studies. We continued to undergo a website redesign to provide enhanced user experience and finalize new products to meet the needs of our divisions.

我們通過新職位和新員工繼續發展內部部門，應用和接收額外的知識產權，簡化內部控制，並為更多研究簽訂新協議。我們繼續對網站進行重新設計，以提供增強的用戶體驗並最終確定新產品以滿足我們部門的需求。

As mentioned before, we continue to grow and need more space for new hires and product development. TOMI is currently under negotiations for an office expansion. We look forward to 2023 with new products and partnerships as we advance our company forward.

如前所述，我們不斷發展壯大，需要更多空間來招聘新員工和開發產品。 TOMI 目前正在就辦公室擴建進行談判。我們期待在 2023 年推出新產品和建立合作夥伴關係，推動公司向前發展。

Operator, let's open the call to questions.

接線員，讓我們開始提問。

(Operator Instructions) Sameer Joshi, H.C. Wainwright.

（操作員說明）Sameer Joshi，H.C.溫賴特。

Thanks. Good afternoon, everyone. Doc, E.J., Nick, congratulations on the progress that you have made over the last several quarters and, certainly, this quarter.

謝謝。大家下午好。 Doc、E.J.、Nick，祝賀你們在過去幾個季度，當然還有本季度取得的進展。

On the OpEx front, good to see year-over-year reductions. But I do understand that, given your expected growth, you're making investments in office space, certain personnel hires. How should we look at OpEx going for the next 12 months?

在運營支出方面，很高興看到同比下降。但我確實理解，鑑於您的預期增長，您正在投資辦公空間和某些人員。我們應該如何看待未來 12 個月的運營支出？

I think you will see an increase in operating expenses, as we are looking to continue to grow revenue. And the two go hand in hand to some extent. So as we ramp up more, there could be an increase there in the operating expenses.

我認為您會看到運營費用增加，因為我們希望繼續增加收入。並且兩者在某種程度上是齊頭並進的。因此，隨著我們增加更多，運營費用可能會增加。

Okay. And the expected (multiple speakers) -- yeah, go ahead.

好的。預期的（多位發言者）-- 是的，請繼續。

Our revenue from it is going to greatly outpace the expenses.

我們從中獲得的收入將大大超過支出。

Yeah, yeah. I mean, I had [presumed] there would be leverage there. Just a little bit specific on that. I think during the last quarter, you had mentioned you've had hired a new salesperson for the life sciences industry, and you outlined a lot of outreach for food and various verticals within that industry on this call. Are there any hires expected for sales in the food industry?

是啊是啊。我的意思是，我曾 [假定] 那裡會有影響力。只是一點點具體。我想在上個季度，你提到你已經為生命科學行業聘請了一名新的銷售人員，並且你在這次電話會議上概述了該行業內食品和各種垂直領域的大量外展活動。是否有食品行業的銷售人員？

We have hired people that are considered specialist in the area and that have moved -- allowed us to move our percentages up significantly in the food safety. And we're all very excited about food safety, as you can tell from the report. I can only see that this product becomes a natural in food safety. And we'll be fighting with life sciences of which division is the best in the company.

我們聘請了被認為是該領域專家的人員，他們已經搬家——使我們能夠顯著提高我們在食品安全方面的百分比。正如您從報告中可以看出的那樣，我們都對食品安全感到非常興奮。我只能看到這種產品在食品安全方面成為自然。我們將與生命科學部門進行較量，以確定哪個部門是公司中最好的。

Understood. And E.J., thanks for explaining the sales process. But would you just explain a little bit as to when you consider a particular project or order in pipeline as against in backlog -- meaning, of course, backlog would be in order, but what is the specific time for -- considering something to be in the pipeline?

明白了。 E.J.，感謝您解釋銷售流程。但是你能不能解釋一下當你考慮一個特定的項目或訂單在管道中而不是在積壓中——意思是，當然，積壓是有序的，但具體的時間是什麼——考慮一些事情是在管線中？

Certainly. So it comes into the pipeline once we start towards the end of our conversations with these companies, and then we sign into contracts with them to win the bid. The recognized revenue of each of these build-ins are scattered throughout the project from the beginning of design to the equipment to the end of installation and commissioning.

當然。因此，一旦我們開始與這些公司的對話即將結束，它就會進入管道，然後我們與他們簽訂合同以贏得投標。這些內置設備中的每一個的確認收入分散在從設計開始到設備到安裝調試結束的整個項目中。

Okay. Okay. Thanks for that color. And then I had a specific question I think in -- while discussing life sciences applications. In the commentary, I think, Doc, you mentioned modular clean room development. Is this something that we should consider a product maybe with a strategic partner going forward? Or is this something that you are supplying to modular clean room manufacturer as a solution for them?

好的。好的。謝謝你的顏色。然後我在討論生命科學應用時想到了一個具體問題。在評論中，我認為 Doc，您提到了模塊化潔淨室開發。這是我們應該考慮與戰略合作夥伴一起開發的產品嗎？或者這是您向模塊化潔淨室製造商提供的解決方案？

So it's a specific customer, but it's a design that can apply to many customers that produce and design modular clean rooms around the world. E.J., do you want to comment a little further on the advancements in that?

所以它是一個特定的客戶，但它是一種設計，可以適用於世界各地生產和設計模塊化潔淨室的許多客戶。 E.J.，你想進一步評論這方面的進步嗎？

Of course. Yeah. So we're actually working with manufacturing companies of cage washers, decon chambers, and these module build-ins. There's about four companies that are really well known globally in which we're creating a turnkey solution of our iHP system to integrate nicely with them, in which they would manufacture and assist in the sales process of those deliverables.

當然。是的。因此，我們實際上正在與籠式清洗機、淨化室和這些模塊內置件的製造公司合作。大約有四家在全球非常知名的公司，我們正在為我們的 iHP 系統創建交鑰匙解決方案以與他們很好地集成，他們將在其中製造並協助這些可交付成果的銷售過程。

Got it. And last one from me. In the food vertical, are you seeing more interest in one vertical rather than other than -- for example, the controlled environment agriculture industry? It's growing, and it's open to new technology. Is that the field that you're seeing more a spill from?

知道了。最後一個來自我。在食品垂直領域，您是否看到對一個垂直領域比對其他垂直領域更感興趣——例如，受控環境農業？它正在成長，並且對新技術持開放態度。那是你看到更多洩漏的領域嗎？

Yes, we're -- all aspects of it. I think the -- I think everybody's a little frustrated. I mean, I know all of the -- most people are about the cost of food today. And a lot of it is a result of what's going on in the safety and the delivery and the storage of food.

是的，我們 - 它的所有方面。我認為 - 我認為每個人都有點沮喪。我的意思是，我知道所有——大多數人都關心今天的食物成本。其中很大一部分是食品安全、運輸和儲存方面發生的事情的結果。

It used to be that nobody wanted in the industry to spend any extra money in protecting that, but it became such a viable expensive commodity today that we're getting lots of interest from food manufacturers from -- whether they package seeds -- which we're dealing with the world's largest seed producer to go ahead and disinfect the seed packages before they put them in the package -- to storage facilities and organic farming, vertical farming. So I see this going all over the place and all over the world in relationship to just food safety, and our products are natural for it now.

過去，業內沒有人願意花任何額外的錢來保護它，但今天它已成為一種可行的昂貴商品，以至於我們從食品製造商那裡獲得了很多興趣——無論他們是否包裝種子——我們'與世界上最大的種子生產商打交道，在將種子放入包裝之前對種子包裝進行消毒 - 儲存設施和有機農業，垂直農業。所以我看到這在整個地方和全世界都與食品安全有關，我們的產品現在是天然的。

Great. Thanks for that color, and thanks for taking my questions. Good luck.

偉大的。謝謝你的顏色，也謝謝你提出我的問題。祝你好運。

Thank you. Thanks so much. Thank you.

謝謝。非常感謝。謝謝。

(Operator Instructions) John Nelson.

（操作員說明）約翰·納爾遜。

Thank you. Hi, Halden. Good job on the quarter. One question - and the opportunity sounds very exceptional for the future.

謝謝。嗨，哈爾登。本季度表現出色。一個問題——這個機會聽起來對未來來說非常特別。

But one question on -- do you have any goals for profitability timing? I know you are very close on an adjusted EBITDA basis this quarter, but how about for in the coming year? Do you see a profitability anytime soon?

但有一個問題——您對獲利時機有任何目標嗎？我知道你本季度的調整後 EBITDA 非常接近，但明年呢？你會很快看到盈利嗎？

Definitely, in the coming year. And very likely, it could be in the next quarter or next two quarters.

肯定的，在來年。很有可能是在下一個季度或接下來的兩個季度。

Okay, great. The -- I was -- I wondered about whether your product could be used because there's going to be a significant amount of construction done in new semiconductor plants throughout the country, and they have a substantial amount of space dedicated to clean rooms. Would SteraMist be applicable for use in such a facility's clean rooms?

好的，太好了。 - 我是 - 我想知道您的產品是否可以使用，因為全國各地的新半導體工廠將進行大量建設，並且他們有大量空間專門用於潔淨室。 SteraMist 是否適用於此類設施的潔淨室？

Most definitely. In fact, we've done the studies on them already, and it's something that every clean room in the semiconductor industry should be using SteraMist just like Pfizers and Mercks do in their clean rooms. So most definitely. Good question, John.

明確地。事實上，我們已經對它們進行了研究，半導體行業的每個潔淨室都應該使用 SteraMist，就像輝瑞和默克在其潔淨室中所做的那樣。所以絕對是。好問題，約翰。

Are you dedicating or directing a number of salespeople to investigate that -- those opportunities with the companies involved?

您是否專門或指示一些銷售人員調查相關公司的機會？

Since you asked the question, we're definitely going to do it.

既然你問了這個問題，我們肯定會去做。

Okay. All right. Great.

好的。好的。偉大的。

(multiple speakers) John, with all these other stuff, but it makes all the sense [for us then]. And that's the person we should be looking for somebody that handles clean rooms. Thank you.

（多位發言者）約翰，還有所有這些其他的東西，但這對我們來說都是有意義的。那就是我們應該尋找處理潔淨室的人。謝謝。

Yeah. Also, any information on -- I know at one time, you had done some work with one of the ServPro franchisees. And I wondered if there was any information you could give us on potential penetration of ServPro.

是的。此外，任何信息——我知道你曾與 ServPro 特許經營商之一合作過。我想知道您是否可以向我們提供有關 ServPro 潛在滲透的任何信息。

I can't -- we've been focused really on these life sciences and food safety and TSN members. We're still looking for that magical person to go out and pursue them. But --

我不能——我們一直專注於這些生命科學和食品安全以及 TSN 成員。我們還在尋找那個神奇的人出去追求他們。但 -

Okay.

好的。

I'll keep that in mind. And we do have a lot of other larger facilities bigger than ServPro that are very interested in using our technology for their application and their toolbox.

我會記住這一點。我們確實有很多其他比 ServPro 更大的設施，它們對將我們的技術用於他們的應用程序和工具箱非常感興趣。

Okay. Good. And has there been any -- I know this is a question I ask every quarter, and I know there are some administrative and bureaucratic issues involved. But anything further on the UCLA hospital cleaning study versus manual and publication timetable?

好的。好的。有沒有——我知道這是我每個季度都會問的一個問題，我知道這涉及到一些行政和官僚問題。但是關於加州大學洛杉磯分校醫院清潔研究與手冊和出版時間表還有什麼進一步的區別嗎？

Yeah. They're still working on this publication. It's hard for me to get them down as timetable, but the results are fantastic.

是的。他們仍在致力於此出版物。我很難把它們作為時間表寫下來，但結果非常好。

And I believe we'll have an announcement from UCLA soon about further application use, but it's hard to push them. They've put out so many papers, and it's kind of in a holding pattern like landing at LAX right now. When our time is there, it will happen.

我相信我們很快就會從加州大學洛杉磯分校獲得關於進一步使用應用程序的公告，但很難推動它們。他們已經發表了很多論文，現在有點像在洛杉磯國際機場著陸一樣的等待模式。當我們的時間在那裡時，它就會發生。

Okay. That would be great. My brother -- I have a couple of brothers who are doctors, and they say this makes so much sense as far as the utilization of SteraMist in the hospital cleaning setting.

好的。那太好了。我的兄弟——我有幾個兄弟是醫生，他們說這對在醫院清潔環境中使用 SteraMist 非常有意義。

It absolutely does, and we've proven to UCLA that in their ICUs, we can clean their ICUs in less time than they currently do manually with unbelievable results. So it's getting them -- it's getting the industry -- not so much UCLA -- but getting the industry to wake up after the COVID pandemic and have an interest in furthering other infectious disease protocols and put them in place. Right now, I think everybody is recovering and exhausted from it. But yes, we are working on that.

確實如此，我們已經向加州大學洛杉磯分校證明，在他們的 ICU 中，我們可以比他們目前手動清潔 ICU 的時間更短，而且效果令人難以置信。因此，它正在吸引他們——它正在吸引整個行業——與其說是加州大學洛杉磯分校——而是讓這個行業在 COVID 大流行之後醒來，並有興趣進一步推進其他傳染病協議並將其落實到位。現在，我認為每個人都在從中恢復過來並且筋疲力盡。但是，是的，我們正在努力。

Okay. Understood. And I might have missed this on the call, but was there any discussion on progress on the ambulance project?

好的。明白了。我可能在電話會議上錯過了這個，但是否討論了救護車項目的進展情況？

Yeah. We didn't mention it on the call, but there is. E.J., do you want to talk a little bit about the ambulance project?

是的。我們沒有在電話中提到它，但確實如此。 E.J.，你想談談救護車項目嗎？

Yes. So we continue to work with the hospital and their team in developing our transport, which the final touches on the design are being made. And we should be in production within the next month or so.

是的。因此，我們繼續與醫院及其團隊合作開發我們的交通工具，目前正在進行設計的最後潤色。我們應該會在下個月左右投入生產。

Oh, good. And have you -- are you waiting for actual production of units, or are you going out and marketing the product at this time?

哦，很好。你有沒有 - 你是在等待單位的實際生產，還是你在這個時候出去營銷產品？

We are quietly marketing with our current customer base, and then we'll mass market once production is planned out in terms of real deadlines on procurement process and support.

我們正在悄悄地與我們當前的客戶群進行營銷，然後一旦根據採購流程和支持的實際截止日期計劃生產，我們將進行大規模營銷。

Excellent. That's all I have for questions. Thank you very much.

出色的。這就是我所有的問題。非常感謝。

Thanks, John.

謝謝，約翰。

[Carl Wright], OakTree Partners.

[卡爾·賴特]，橡樹資本合夥人。

Hi, thank you for taking my question. So it sounds like you have a great operating leverage in your business. It could happen over the next few years, particularly given the CES growth. And just to make sure I understand, how should we think about the gross margins on your solution versus your hardware?

你好，謝謝你接受我的問題。所以聽起來你在你的業務中有很大的經營槓桿。它可能會在未來幾年內發生，特別是考慮到 CES 的增長。為了確保我理解，我們應該如何考慮您的解決方案與硬件的毛利率？

So the CES growth is tremendous, and it's a natural for the company -- we -- our razor-razorblade model is the technology. Let's say, the CES is the razor, but the solution is the razorblade.

因此，CES 的增長是巨大的，這對公司來說是很自然的——我們——我們的剃須刀刀片模型就是技術。比方說，CES 是剃刀，但解決方案是剃須刀片。

Like we said on the call, that can be anywhere from $5,000 to $250,000 a year per unit, depending upon usage. So the natural is to -- our margins are extremely high as most chemicals are in the industry. And it's getting enough equipment out there to utilize as much solution as possible, and our margins should theoretically grow because our margin on the solution is much greater than the technology.

就像我們在電話會議上所說的那樣，根據使用情況，每台設備每年的費用可能在 5,000 美元到 250,000 美元之間。所以很自然——我們的利潤率非常高，因為大多數化學品都在這個行業。它正在獲得足夠的設備來盡可能多地利用解決方案，理論上我們的利潤率應該會增長，因為我們在解決方案上的利潤率遠遠大於技術。

Okay, got it. Thank you. That's it from me. Thanks for taking my question.

好，知道了。謝謝。我就是這樣。感謝您提出我的問題。

Thanks so much. Thanks for your question.

非常感謝。謝謝你的問題。

Thank you. And there are no further questions in queue at this time. I would now like to turn the floor back to management for closing remarks.

謝謝。目前隊列中沒有其他問題。我現在想把發言權轉回管理層，聽取結束語。

I just want to thank everybody for listening to our year-end, and I look forward to reporting on our first quarter and the coming months. Thank you, all. Have a wonderful day or evening or morning, wherever you might be located. Thank you, operator.

我只想感謝大家收聽我們的年終報告，我期待著報告我們的第一季度和未來幾個月。謝謝你們。祝您度過美好的一天、傍晚或早晨，無論您身在何處。謝謝你，運營商。

Certainly. Thank you. This does conclude today's conference call. You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation.

當然。謝謝。這確實結束了今天的電話會議。此時您可以斷開電話線，度過美好的一天。感謝您的參與。