Vislink Technologies Inc (VISL) 2022 Q4 法說會逐字稿

Good day, and welcome to the Vislink Technologies Full Year 2022 Financial Results. (Operator Instructions) Please note this event is being recorded.

美好的一天，歡迎閱讀 Vislink Technologies 2022 年全年財務業績。 （操作員說明）請注意正在記錄此事件。

Before we begin, I would like to remind everyone of the safe harbor statement referenced in the SEC filings. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for certain forward-looking statements, including statements made during the course of today's call. Statements contained herein that are not based upon current or historical facts are forward-looking statements in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, these words: anticipate, believe, estimate, upcoming, plan, target, intend and expect and similar expressions as it relate to Vislink Technologies and its subsidiaries or its management, are intended to identify such forward-looking statements.

在我們開始之前，我想提醒大家注意 SEC 文件中引用的安全港聲明。 1995 年的《私人證券訴訟改革法案》為某些前瞻性陳述提供了安全港，包括在今天電話會議期間作出的陳述。此處包含的不基於當前或歷史事實的陳述本質上是前瞻性陳述，構成 1933 年證券法第 27A 條和 1934 年證券交易法第 21E 條含義內的前瞻性陳述。此類前瞻性陳述- 前瞻性陳述反映了公司對其未來經營業績、業績和機會的預期，涉及重大風險和不確定性。當在本文中使用時，這些詞語：預期、相信、估計、即將到來、計劃、目標、打算和期望以及與 Vislink Technologies 及其子公司或其管理層相關的類似表達，旨在識別此類前瞻性陳述。

These forward-looking statements are based on information currently available to the company and are subject to a number of risks, uncertainties and other factors that could cause the company's actual results, performance, prospects and opportunities to differ materially from those expressed in or implied by these forward-looking statements. For a more detailed discussion of some of the ongoing risks and uncertainties of the company's business, please refer to the company's various filings with the Securities and Exchange Commission.

這些前瞻性陳述基於公司目前可獲得的信息，並受到許多風險、不確定性和其他因素的影響，這些風險、不確定性和其他因素可能導致公司的實際結果、業績、前景和機會與明示或暗示的內容存在重大差異。這些前瞻性陳述。有關公司業務的一些持續風險和不確定性的更詳細討論，請參閱公司向美國證券交易委員會提交的各種文件。

I would now like to turn the conference over to Mr. Mickey Miller, CEO of Vislink. Please go ahead, sir.

我現在想將會議轉交給 Vislink 首席執行官 Mickey Miller 先生。請繼續，先生。

Thank you very much. Welcome, everyone, and we're very excited to talk about our results for 2022 and about the future of Vislink in 2023. If you could go to the -- yes.

非常感謝。歡迎大家，我們很高興談論我們 2022 年的成果和 2023 年 Vislink 的未來。如果你能去——是的。

Our mission remains the same: to enable content owners to deliver and distribute immersive compelling live content and allow those in uniform to protect and serve, and we'll do this through our vision of digitalizing and (inaudible) every live video network in the world. When you look at the areas that we participate, whether it's broadcast, sports entertainment, public safety, these particular pictures all include customers or our product in action, whether it was Tom Brady at the end of a Super Bowl a few years ago, the Wolf Blitzer Studio or the Miami-Dade Fire & Rescue. These are all areas that our technology impacts on a daily basis, things that happen in our world.

我們的使命保持不變：讓內容所有者能夠交付和分發身臨其境的引人入勝的直播內容，並讓那些穿著制服的人能夠保護和服務，我們將通過數字化和（聽不清）世界上每個直播視頻網絡的願景來實現這一目標.當你看我們參與的領域時，無論是廣播、體育娛樂、公共安全，這些特定的圖片都包括客戶或我們的產品在行動，無論是幾年前超級碗結束時的湯姆布拉迪， Wolf Blitzer Studio 或 Miami-Dade Fire & Rescue。這些都是我們的技術每天影響的所有領域，我們世界上發生的事情。

Next slide, please. We look at 2022 as a year of transformation. We had a large Army order in 2021, which represent a large percentage of our business, and that went away. It was deployed in Afghanistan. And once the U.S. (inaudible) Afghan, the need for that product and technology was no longer necessary. So we went (inaudible) through with that. (inaudible) through our public (inaudible) from '21 and our sports entertainment business by 40%.

請換下一張幻燈片。我們將 2022 年視為轉型之年。我們在 2021 年接到了一筆大的陸軍訂單，占我們業務的很大一部分，然後就消失了。它部署在阿富汗。一旦美國（聽不清）阿富汗，就不再需要該產品和技術。所以我們（聽不清）完成了那個。 （聽不清）通過我們的公眾（聽不清）從 21 年開始，我們的體育娛樂業務增長了 40%。

The reason why that's important is because that's the area that we've been focused on with our new products that we've developed over the last 3 years. So whether it's our Quantum product or our new transmitter products, AeroLink, these are focused on those markets. So this underscores that our strategy -- our technology strategy and our products meet the market, and we're growing quite well in those markets when we anticipate continued growth in those markets.

這之所以重要，是因為這是我們在過去 3 年中開發的新產品一直關注的領域。因此，無論是我們的 Quantum 產品還是我們的新發射器產品 AeroLink，它們都專注於這些市場。因此，這強調了我們的戰略——我們的技術戰略和我們的產品符合市場需求，並且當我們預計這些市場將持續增長時，我們在這些市場中的增長非常好。

In addition to growth on the top line in those areas, we reduced our breakeven point by another $3 million through ongoing cost reduction. We implemented a new go-to-market strategy. We took the opportunity in last year to focus on those products that are nonstrategic legacy products like the satellite (technical difficulty) those products. And now through our new products, we view our hardware products as a gateway to sell softwares (technical difficulty). And we were now able to deploy that strategy through the combination of (inaudible) point and their LinkMatrix products and their bonded cellular products with the traditional Vislink COFDM products.

除了這些領域的收入增長外，我們還通過持續降低成本將盈虧平衡點再降低了 300 萬美元。我們實施了新的上市戰略。去年我們藉此機會專注於那些非戰略性遺留產品，如衛星（技術難度）的那些產品。現在通過我們的新產品，我們將我們的硬件產品視為銷售軟件（技術難度）的門戶。我們現在能夠通過將（聽不清）點和他們的 LinkMatrix 產品以及他們的綁定蜂窩產品與傳統的 Vislink COFDM 產品相結合來部署該策略。

So I think you'll see, as we show you our strategy around products, we're leveraging the assets that we acquired through the Mobile Viewpoint acquisition to position ourselves better in the marketplace. And through that, we're able to drive a software services strategy on an ongoing basis.

所以我想你會看到，當我們向你展示我們圍繞產品的戰略時，我們正在利用通過收購 Mobile Viewpoint 獲得的資產來更好地定位自己在市場中的地位。通過這種方式，我們能夠持續推動軟件服務戰略。

We target a 90%, 10% hardware to software in this first year, but we expect that to increase in the coming years, as we focus on growing our revenue through software and services via our LinkMatrix management platform.

我們的目標是在第一年實現 90%、10% 的硬件與軟件的比例，但我們預計未來幾年這一比例會增加，因為我們專注於通過我們的 LinkMatrix 管理平台通過軟件和服務來增加收入。

One thing we're most excited about is we have the highest weighted sales funnel that we've had post-COVID. It's weighted at $52 million. That includes all the different -- it's a 10% opportunity, then only 10% of the potential revenue is included. If it's 80%, then 80%. So it's a weighted funnel that we feel really comfortable with focused in those targeted areas of sports entertainment, part of live production, which is probably over 90% of live production; and then public safety, which today is over 90% of our MilGov product -- or segment.

我們最興奮的一件事是我們擁有 COVID 後權重最高的銷售渠道。它的權重為5200萬美元。這包括所有不同的——這是一個 10% 的機會，那麼只有 10% 的潛在收入被包括在內。如果它是 80%，那麼 80%。因此，這是一個加權漏斗，我們非常願意專注於體育娛樂的目標領域，即現場製作的一部分，這可能佔現場製作的 90% 以上；然後是公共安全，如今已占我們 MilGov 產品或細分市場的 90% 以上。

Next slide, please. When you look at our strategy, it's the same whether we're in the MilGov market or whether we're in the live production segment. Whether it's sports and entertainment or public safety, the guts of our product offering and our software offering are the same. And that comes everything from content capture, like in the case of IT sports producer, where we have 4, 4K cameras that we now stitch together to create an automated capture capability to our contribution. We're the only player in our market that can do bonded cellular, can do COFDM, can do private 5G, and now we're doing bonded COFDM and public 5G, 4G bonding, first one in the industry to do that and really the only one who has those 2 technologies with the capability of doing that. And we see that as a massive opportunity as things change over time. And then the applications that run on top of that in the software platform, whether it's camera control, video return or IFP.

請換下一張幻燈片。當你看我們的戰略時，無論我們是在 MilGov 市場還是在現場製作領域，都是一樣的。無論是體育和娛樂還是公共安全，我們提供的產品和提供的軟件的核心都是一樣的。這來自於內容捕獲的一切，就像 IT 體育製作人的情況一樣，我們有 4 個 4K 攝像機，我們現在將它們拼接在一起，以創建自動捕獲功能來實現我們的貢獻。我們是市場上唯一可以做綁定蜂窩、可以做 COFDM、可以做私有 5G 的參與者，現在我們正在做綁定 COFDM 和公共 5G、4G 綁定，這是業內第一個這樣做的，而且真的是只有擁有這兩種技術的人才有能力做到這一點。隨著時間的推移，我們認為這是一個巨大的機會。然後是在軟件平台上運行於其之上的應用程序，無論是攝像機控制、視頻返回還是 IFP。

Cloud production, we're able to offer -- whatever the customer wants to use from a cloud production standpoint, we don't have our phone app, (inaudible) we allow our customers to use what their preferences are.

雲生產，我們能夠提供——從雲生產的角度來看，無論客戶想要使用什麼，我們都沒有我們的電話應用程序，（聽不清）我們允許我們的客戶使用他們的偏好。

On the playout side, whether it's transcode or decode of any sort, we're able to do it, and then we can transport that through our IP link our Terralink products. But again, this is all managed through our LinkMatrix management platform, which will allow us to both automate and control. So as automation becomes more favorable and more desired in the marketplace, we'll be in a great position with our LinkMatrix product line.

在播出方面，無論是轉碼還是任何類型的解碼，我們都能夠做到，然後我們可以通過我們的 IP 鏈接傳輸我們的 Terralink 產品。但同樣，這一切都通過我們的 LinkMatrix 管理平台進行管理，這將使我們能夠實現自動化和控制。因此，隨著自動化在市場上變得越來越受歡迎和受歡迎，我們的 LinkMatrix 產品線將處於有利地位。

Next slide, please. So just looking at the public safety market, which is part of the MilGov segment and, as I said, in '22 was the lion's share, given our Afghanistan order didn't continue into 2022. But we grew this by 31%. And we expect to double this in this year, which we're really excited. There's a couple of reasons for that.

請換下一張幻燈片。所以只看公共安全市場，這是 MilGov 部分的一部分，正如我所說，22 年是最大的份額，因為我們的阿富汗訂單沒有持續到 2022 年。但我們增長了 31%。我們希望今年能翻一番，我們真的很興奮。有幾個原因。

One is we introduced our AeroLink transmitter last year, and it's got an incredible reception by our (inaudible). It allows our customers to have 4K from the air to ground, and that brings a lot of capabilities and a lot of visibility. In addition, this is an area where we're offering now our own VMS, where they can go directly to their own PDA and see what's happening from a bird's eye view.

一是我們去年推出了我們的 AeroLink 發射器，我們的（聽不清）對它的反響令人難以置信。它允許我們的客戶從空中到地面擁有 4K，這帶來了很多功能和很多可見性。此外，這是我們現在提供我們自己的 VMS 的區域，他們可以在其中直接進入他們自己的 PDA，並從鳥瞰圖中查看正在發生的事情。

We achieved $2 million in downlink orders around our AeroLink product line in the fourth quarter of last year. We've seen a great reception around AeroLink. And now our Quantum receiver is a part of the solution. And we're just beginning to build our international sales pipeline in the Middle East, Asia and even parts of Western Europe. So we're really excited about the possibilities that we have for this product line. We have the visibility to commit that we can double the revenue in this area in this year.

去年第四季度，我們圍繞 AeroLink 產品線獲得了 200 萬美元的下行鏈路訂單。我們看到 AeroLink 受到了熱烈歡迎。現在我們的 Quantum 接收器是解決方案的一部分。我們剛剛開始在中東、亞洲甚至西歐部分地區建立我們的國際銷售渠道。因此，我們對該產品線的可能性感到非常興奮。我們承諾今年可以將這一領域的收入翻一番。

We're continuing to do that through our trade show activity and digital marketing efforts to bring both old customers that used to use HDX product line and then new customers that are interested in our AeroLink, because not only does it do a proprietary COFDM link, but it also brings bonded 4G, 5G to areas where they don't want to deploy receive stations. So that's a great opportunity for our customers to leverage whatever wireless capabilities are available.

我們將繼續通過我們的貿易展覽活動和數字營銷努力來做到這一點，以吸引過去使用 HDX 產品線的老客戶和對我們的 AeroLink 感興趣的新客戶，因為它不僅有專有的 COFDM 鏈接，但它也將綁定的 4G、5G 帶到他們不想部署接收站的區域。因此，這對我們的客戶來說是利用任何可用無線功能的絕佳機會。

On the defense side, we're in the middle of initiatives to identify opportunities to grow in those areas, developing sales channels, partnerships and joint ventures while also reviewing quite a view of M&A activity. What we do from a wireless FPGA capability, coupled with our encoding capabilities and decoding capabilities, is much desired. The world is going wireless. And certainly on the defense side, wire capability is very critical.

在國防方面，我們正在採取措施尋找在這些領域發展的機會，開發銷售渠道、合作夥伴關係和合資企業，同時也在審查併購活動的相當一部分觀點。我們從無線 FPGA 功能中所做的，再加上我們的編碼能力和解碼能力，是非常需要的。世界正在無線化。當然，在防禦方面，有線能力非常關鍵。

Next slide, please. So when you look at the public safety market, as I said, when we show what's happening in sports entertainment, these products are effectively the same. But the markets that we play in is AVDS, Aerial Video Downlink Systems, which brings from the air, whether it be a rotary helicopter or a fixed wing or a drone to the ground, we're able to take that capability, send it to the cloud and distribute it to field agents as well as command so that proactive decisions can be made in better control situations.

請換下一張幻燈片。因此，當你審視公共安全市場時，正如我所說，當我們展示體育娛樂領域正在發生的事情時，這些產品實際上是相同的。但我們參與的市場是 AVDS，空中視頻下行鏈路系統，它從空中帶來，無論是旋翼直升機還是固定翼或無人機到地面，我們能夠利用這種能力，將其發送到雲並將其分發給現場代理和指揮，以便在更好的控制情況下做出主動決策。

We also take drone backhaul right out of the controllers into the cloud for distribution. Remote surveillance is an opportunity that we've been able to grow in, and that's ability to take videos from, whether it be oil sites or other production facilities and transmit those back to headquarters. And then automated surveillance. This is an opportunity where we're using our IQ sports producer and our automated capability to manage drawbridges, such that you don't draw the bridge in -- when someone's on the bridge or if there's some animal or some type of danger. And so that allows -- again, an automated way to support the automated surveillance folks in parts of the world.

我們還將無人機回程直接從控制器中提取到雲端進行分發。遠程監控是我們能夠成長的機會，並且能夠從中獲取視頻，無論是石油現場還是其他生產設施，並將其傳輸回總部。然後自動監視。這是一個機會，我們可以利用我們的 IQ 體育製作人和我們的自動化能力來管理吊橋，這樣你就不會把橋拉進去——當有人在橋上或者有動物或某種危險時。因此，這再次允許以一種自動化的方式來支持世界部分地區的自動監控人員。

So the products that we have here, our Quantum product that we've talked about many times, we introduced this 18 months ago. It's been well received, probably our most successful product in the history of the company; coupled with our COFDM transmitters, that's our HCAM there; our bonded WCS products, which is our bonded 4G, 5G products; and then our new hybrid-bonded COFDM. That's our click. It's a very small body-worn capability that allows you to take 2 feeds of video and 2 feeds of audio; our IQ SP, which is our IQ sports producer, which is our AI automated camera; and then the AeroLink, which I talked about. But the key piece of this, this is all bound together through our LinkMatrix software offering.

所以我們在這裡擁有的產品，我們已經多次談論過的 Quantum 產品，我們在 18 個月前推出了這個。它很受歡迎，可能是我們公司歷史上最成功的產品；再加上我們的 COFDM 發射器，就是我們的 HCAM；我們的保稅WCS產品，就是我們的保稅4G、5G產品；然後是我們新的混合鍵合 COFDM。那是我們的點擊。這是一個非常小的可穿戴設備，允許您接收 2 路視頻和 2 路音頻；我們的 IQ SP，這是我們的 IQ 體育製作人，這是我們的 AI 自動相機；然後是我談到的 AeroLink。但關鍵的一點是，這一切都通過我們的 LinkMatrix 軟件產品綁定在一起。

Next slide, please. On the public safety side, the use case here is pretty simple. What you see on the right is 10,000 pills of fentanyl. Fentanyl kills 300 people a day in the U.S. So there's obviously an intense focus on this. And what we allow public safety organizations across the U.S. to do is able to see what's happening from a bird's eye view. We have our AeroLink transmitter in the helicopters and fixed wings. We have receivers at the receive station, and we're able to connect all the hardware systems and distribute a low latency, highly reliable 4K bird's eye view to the command center or field personnel, so they can make proactive decisions.

請換下一張幻燈片。在公共安全方面，這裡的用例非常簡單。你在右邊看到的是 10,000 粒芬太尼藥丸。芬太尼在美國每天殺死 300 人。因此，顯然人們非常關注這一點。我們允許美國各地的公共安全組織做的是能夠從鳥瞰圖中看到正在發生的事情。我們在直升機和固定翼上安裝了 AeroLink 發射機。我們在接收站有接收器，我們可以連接所有的硬件系統，將低延遲、高可靠的4K鳥瞰圖分發給指揮中心或現場人員，以便他們做出主動決策。

We're also using this for border control monitoring, of course, of illicit activity as well as just general surveillance. So this is a key part of the public safety solution to solving the challenges that we have in our society today.

我們也將其用於邊境控制監控，當然，非法活動以及一般監控。因此，這是解決我們當今社會面臨的挑戰的公共安全解決方案的關鍵部分。

Next slide, please. On the live production markets, grew 27% overall with an underlying growth of 40%. That means if you take the legacy products and focus on the new products that we've introduced that are focused largely on sports and entertainment. We've got strong industry tailwinds in the sports and entertainment side, continued technology and equipment upgrades as well as growing demand for cost-effective live event production.

請換下一張幻燈片。在現場生產市場，整體增長 27%，基礎增長 40%。這意味著如果你採用傳統產品並專注於我們推出的主要專注於體育和娛樂的新產品。我們在體育和娛樂方面擁有強勁的行業順風，持續的技術和設備升級以及對具有成本效益的現場活動製作的需求不斷增長。

Post-COVID, there is an (inaudible) demand for high-value live content and more content. And so we continue to work with our partners and with content owners to be able to find creative ways, because it's not only about the event itself but also the story behind the story as we've been able to see in so many different events that we've seen through sporting teams or brands now taking to Netflix and other venues to be able to show what's happening behind the scenes.

後 COVID，對高價值直播內容和更多內容有（聽不清）需求。因此，我們繼續與我們的合作夥伴和內容所有者合作，以找到創造性的方式，因為這不僅與活動本身有關，而且與我們在許多不同的活動中看到的故事背後的故事有關我們已經看到運動隊或品牌現在正在 Netflix 和其他場所展示幕後發生的事情。

And of course, there's continued interest in REMI, which is remote production capability. Our new products all drive and support those key initiatives, whether it's our Quantum receiver, our Cliq OFDM mobile transmitter or our AI-based technology. As I said, our vision is the ability to bring automation and digitization to all video-centric networks in the world. We'll be showcasing new products at industry conferences. We have our NAB conference coming up here in April, which is the largest broadcast conference in the U.S. We recently announced our SPORTEL partnership with Stream Viral, which has continued to bring opportunities. Because when you look at IQ sports producer, [DePalo] Charter Live, they're all planting seeds of new products to bring new capabilities to customers, and we're seeing good traction behind those.

當然，人們對遠程生產能力 REMI 的持續興趣。我們的新產品都在推動和支持這些關鍵舉措，無論是我們的 Quantum 接收器、我們的 Cliq OFDM 移動發射器還是我們基於 AI 的技術。正如我所說，我們的願景是能夠為世界上所有以視頻為中心的網絡帶來自動化和數字化。我們將在行業會議上展示新產品。我們將於 4 月在這裡舉行 NAB 會議，這是美國最大的廣播會議。我們最近宣布了與 Stream Viral 的 SPORTEL 合作夥伴關係，這繼續帶來了機會。因為當你看看 IQ 體育製作人 [DePalo] Charter Live 時，他們都在播下新產品的種子，為客戶帶來新的功能，我們看到了這些產品背後的良好牽引力。

Next slide, please. So again, the products that fit in the live production markets are effectively the same products that we're positioned in the public safety markets, just wrapped a little bit differently. But again, all managed through our LinkMatrix software. So kind of the use cases we see are studios. Whenever you see a content owner or a broadcaster create a new studio, they're using wireless 4K, high-reliability, low-latency equipment like ours. So we've been able to see a good opportunity in traditional studios that are being rebuilt. Automated capture, the ability to take multi-camera automated capture and create a live event, just like you have cameraman on site. We're able to do that through our IQ sports producer, and that's been really well received.

請換下一張幻燈片。因此，適合現場製作市場的產品實際上與我們在公共安全市場定位的產品相同，只是包裝方式略有不同。但同樣，所有這些都通過我們的 LinkMatrix 軟件進行管理。我們看到的這類用例是工作室。每當您看到內容所有者或廣播公司創建新工作室時，他們都會使用像我們這樣的無線 4K、高可靠性、低延遲設備。因此，我們已經能夠在正在重建的傳統工作室中看到一個很好的機會。自動捕捉，能夠進行多攝像機自動捕捉並創建現場活動，就像現場有攝影師一樣。我們可以通過我們的 IQ 體育製作人來做到這一點，而且這非常受歡迎。

AVDS, as I mentioned, Aerial Video Downlink Systems, are used in broadcast, quite commonly. We're at the Goodyear Blimp in other places. Remote production. As I mentioned, that's the ability to have fewer people on site. This was accelerated through COVID and have more people back at the studio, so you're needing to bring signals back to have production done remotely. That's an area that has had tremendous growth. We continue to see the growth there. And that's where we see our (inaudible) product being a key product in that area.

AVDS，正如我提到的，航拍視頻下行鏈路系統，在廣播中使用非常普遍。我們在其他地方的 Goodyear Blimp。遠程生產。正如我所提到的，這就是現場人數減少的能力。這是通過 COVID 加速的，並且有更多的人回到工作室，所以你需要帶回信號以遠程完成製作。這是一個取得了巨大增長的領域。我們繼續看到那裡的增長。這就是我們看到我們的（聽不清）產品是該領域的關鍵產品的地方。

In venue is typically done through our proprietary costume systems. That's where you'll see the HCAM and our Quantum receiver being used.

在場地通常是通過我們專有的服裝系統完成的。這就是您將看到使用 HCAM 和我們的 Quantum 接收器的地方。

And then on location is more mobile, and that's where you use the mobile networks and our bonded 4G, 5G. As I said, when you look forward to planting seeds, a 5G product offering that we introduced and did a lot of testing with BT Sport and others that we announced, we won quite a few awards around that. That's an area that we see developing over time. We're one of the leaders there. That will largely take time because it's a function of regulation of spectrum and also customers moving there. But what we allow them to do is have a platform that allows them to get to that, a point when they desire because we have a COFDM solution; we have a bonded solution; and then ultimately, a 5G private solution. So we're the only one in our industry that has the capability to do all those 3 different technologies.

然後在位置上移動性更強，這就是您使用移動網絡和我們綁定的 4G、5G 的地方。正如我所說，當你期待播種時，我們推出了 5G 產品，並與 BT Sport 和我們宣布的其他產品進行了大量測試，我們為此贏得了很多獎項。這是我們看到隨著時間的推移而發展的領域。我們是那裡的領導者之一。這在很大程度上需要時間，因為它是頻譜監管的一個功能，也是移動到那裡的客戶的功能。但我們允許他們做的是擁有一個平台，讓他們能夠實現這一點，因為我們有 COFDM 解決方案，所以他們希望達到這一點；我們有保稅解決方案；最後是 5G 專用解決方案。所以我們是我們行業中唯一有能力做所有這 3 種不同技術的人。

Next slide, please. So the typical use case of a COFDM transmitter is our Cliq, which we'll be introducing -- we introduced last year at IBC. This year at NAB, we'll have live units, and this will be -- start being shipped in the April, May time frame. It's a very small OFDM mobile transmitter. It can go on the back of one of these riders on the ride. We're able to take in the feed from a camera on the helmet and a feed from the camera on the shoulder, as well as 2 microphones that you have on the bikes. So it's got incredible capability.

請換下一張幻燈片。因此，COFDM 發射機的典型用例是我們將在去年 IBC 上介紹的 Cliq。今年在 NAB，我們將有現場裝置，這將是——在四月、五月的時間框架內開始發貨。這是一個非常小的 OFDM 移動發射器。它可以騎在這些騎手之一的背上。我們能夠從頭盔上的攝像頭和肩膀上的攝像頭以及自行車上的 2 個麥克風接收信號。所以它具有不可思議的能力。

And as you know, in the past, MotoGP, as you know, we have 4 cameras on every one of those bikes, so those 20 bikes, now adding 2 additional cameras. That's a kind of capability, not just with MotoGP or Extreme E., it's down the picture down here on the right. But it brings so much capability of immersive content and unique content that you can achieve in other places by having that very intimate look from the individual's body. So we see a tremendous opportunity of growth not only in motor sports with the Cliq, but in a lot of different areas. And so far, the response that we're seeing from customers about that introduction are very positive.

如你所知，在過去，MotoGP，如你所知，我們在每輛自行車上都有 4 個攝像頭，所以那 20 輛自行車，現在增加了 2 個額外的攝像頭。這是一種能力，不僅僅是 MotoGP 或 Extreme E.，它在右下方的圖片下方。但它帶來瞭如此多的沉浸式內容和獨特內容的能力，您可以在其他地方通過從個人身體獲得非常親密的外觀來實現。因此，我們不僅在 Cliq 的賽車運動中，而且在許多不同領域都看到了巨大的增長機會。到目前為止，我們從客戶那裡看到的關於該介紹的反應非常積極。

Next slide, please. So Mike, do you want to go through the financials?

請換下一張幻燈片。邁克，你想看一下財務嗎？

Sure. Thanks, Mickey. As Mickey mentioned, 2022 was a transformative year. Revenues were at $28.4 million, and that's down slightly from last year. And that's, as Mickey mentioned, due to loss of some pieces of business of legacy products like the U.S. Army Afghan contract and a few legacy satellite product sales. But we did see strong growth, as Mickey mentioned, in 2 key segments for us, public safety and sports and entertainment. And there, we saw about a 31% growth in public safety and about a 40% growth in sports and entertainment. And getting increased sales in those areas and it allows us to start selling more of our higher-margin products like Quantum and AeroLink and allows us to start putting more of a service wrapper around our equipment sales. And as Mickey mentioned, we're endeavoring to move to about a 90-10 split in 2023, and we think that's going to increase, and that's a conservative amount.

當然。謝謝，米奇。正如米奇所說，2022 年是變革的一年。收入為 2840 萬美元，比去年略有下降。正如米奇提到的那樣，這是由於美國陸軍阿富汗合同和一些遺留衛星產品銷售等遺留產品業務的損失。但正如 Mickey 所提到的，我們確實在兩個關鍵領域看到了強勁的增長，即公共安全以及體育和娛樂。在那裡，我們看到公共安全增長了約 31%，體育和娛樂增長了約 40%。在這些領域增加銷售額，這使我們能夠開始銷售更多利潤率更高的產品，如 Quantum 和 AeroLink，並使我們能夠開始為我們的設備銷售提供更多服務包裝。正如米奇提到的那樣，我們正在努力在 2023 年達到 90-10 左右的比例，我們認為這會增加，這是一個保守的數字。

So we reduced our breakeven by $3 million. And by that, we mean that we reduced our cost and expenses such that, given a certain amount of revenue, we've now taken that amount of revenue necessary to breakeven, down by $3 million. That gives us some flexibility. And we think we're going to continue with the cost and expense optimization through 2023. We're not finished.

因此，我們將收支平衡減少了 300 萬美元。我們的意思是說，我們減少了成本和支出，因此，考慮到一定數量的收入，我們現在已經將收支平衡所需的收入減少了 300 萬美元。這給了我們一些靈活性。我們認為我們將在 2023 年之前繼續進行成本和費用優化。我們還沒有完成。

So we've streamlined our product line substantially. We say it's been streamlined by 60%, and that allows us again to go up margin, sell higher-margin products, newer products; increase and include a greater amount of services. So we think that, that obviously gives us a greater opportunity for better profitability. So that -- the newest product line has gotten extremely good reception and has been evidenced by some interesting awards. We got the IABM award for our 5G 4Live remote production solution, and we got the broadcast Tech Innovation Award for a premium low-latency wireless camera technology this year.

因此，我們大幅簡化了我們的產品線。我們說它已經精簡了 60%，這使我們能夠再次提高利潤率，銷售利潤率更高的產品，更新的產品；增加並包括更多的服務。所以我們認為，這顯然為我們提供了更好的盈利機會。因此——最新的產品線獲得了極好的反響，並獲得了一些有趣的獎項。今年，我們的 5G 4Live 遠程製作解決方案獲得了 IABM 獎，我們的優質低延遲無線攝像頭技術獲得了廣播技術創新獎。

So our gross margins were 47% of revenue, again, down slightly from last year due to volume issues and some mix, but we expect that to go back up into the mid- to lower 50s by next year. We had a strong balance sheet at the end of the year. We had $0.6 million in cash, and we had no debt.

因此，由於銷量問題和一些混合因素，我們的毛利率再次佔收入的 47%，與去年相比略有下降，但我們預計到明年將回升至 50 年代中期至較低水平。我們在年底擁有強勁的資產負債表。我們有 60 萬美元現金，沒有債務。

Now I'll turn it back over to Mickey.

現在我會把它轉回給米奇。

Thanks, Mike. So as we look into 2023, we think we're incredibly well positioned for organic profitable growth. We've done some changes in the leadership team. Last year, the Mobile Viewpoint team, Michel Bais, is leading our product and engineering teams; JD, the Head of Sales, is leading our sales; and Charlotte, our marketing. So we've made a lot of changes, and we've just announced a new change. Paul Norridge will be the CFO effective April 1. Mike Bond has done incredible work since he's been here. He came here with me in the early days of turning this around, getting us through the pandemic and get us into the growth position. And we think that now is a great time to make this change as we position this company for growth in the future.

謝謝，邁克。因此，當我們展望 2023 年時，我們認為我們在實現有機盈利增長方面處於非常有利的地位。我們對領導團隊進行了一些調整。去年，Mobile Viewpoint 團隊 Michel Bais 領導我們的產品和工程團隊； JD，銷售主管，領導我們的銷售；和夏洛特，我們的營銷人員。所以我們做了很多改變，我們剛剛宣布了一個新的改變。 Paul Norridge 將從 4 月 1 日起擔任首席財務官。Mike Bond 自從來到這里以來所做的工作令人難以置信。在扭轉局面的早期，他和我一起來到這裡，幫助我們度過了大流行病，讓我們進入了增長階段。我們認為現在是做出這一改變的好時機，因為我們將這家公司定位為未來的增長。

So it's the transformation that we started in 2022, we're starting to see yield benefits already in '23. The cost reductions will help continued bottom line improvement, and we're continuing on further cost reductions in '23. We'll also increase traction with newer higher-margin product (inaudible) that leverage the latest technology of AI, cloud and 5G. And then LinkMatrix will be integrated to all our hardware platforms. And that's probably 80% along the way, and we'll be completely integrated. But that really is the ability for us to drive the service and software recurring revenues over time.

所以這是我們在 2022 年開始的轉型，我們在 23 年就已經開始看到收益。成本降低將有助於持續改善底線，我們將在 23 年繼續進一步降低成本。我們還將通過利用人工智能、雲和 5G 最新技術的更新的高利潤產品（聽不清）來增加吸引力。然後 LinkMatrix 將集成到我們所有的硬件平台。這可能是整個過程的 80%，我們將完全整合。但這確實是我們隨著時間的推移推動服務和軟件經常性收入的能力。

We expect to have a 2/3 live production, 1/3 public safety revenue mix, which is a favorable mix for us. And we're targeting, as we said, 90-10 hardware, software services mix in 2023. As Mike mentioned, we had a strong award-winning product portfolio that was announced last year. That same innovation is increasing, and you're going to see a lot of new exciting things happened this year from a product standpoint.

我們預計會有 2/3 的現場製作，1/3 的公共安全收入組合，這對我們來說是一個有利的組合。正如我們所說，我們的目標是在 2023 年實現 90-10 種硬件、軟件服務組合。正如邁克所提到的，我們去年宣布了一個強大的獲獎產品組合。同樣的創新正在增加，從產品的角度來看，你會看到今年發生了很多令人興奮的新事情。

As I mentioned, we plan to double our public safety revenues in 2023. The opportunities are there. It's not only our new products, but the activities from the local and state level have increased. That is not only with that funding from local and state, but also federal funding into the area is increasing spend by many of our customers. So we see a great opportunity to increase that.

正如我提到的，我們計劃在 2023 年將公共安全收入翻一番。機會就在那裡。不僅是我們的新產品，地方和州一級的活動也有所增加。這不僅來自地方和州的資金，而且聯邦對該地區的資金正在增加我們許多客戶的支出。所以我們看到了一個很好的機會來增加它。

Drones bring a large opportunity to the table as those get deployed in various areas throughout the country. So we see a growth opportunity there as well. And things like the Cliq, things like our bonded cellular backhaul capability, all positioned well from a drone standpoint.

隨著無人機在全國各個地區的部署，無人機帶來了巨大的機遇。因此，我們也看到了那裡的增長機會。諸如 Cliq 之類的東西，諸如我們的綁定蜂窩回程能力之類的東西，從無人機的角度來看都定位得很好。

We still see continued growth in live production. We've got a great list of (inaudible) the high-quality 4K wireless systems. And it's not only content owners and broadcasters but every large enterprise is a media company. They have to communicate with their constituents, with their employees and with their investors and customers, and having the capabilities that we have allows them to do that in a much more efficient and high-quality way. So we've had some really good growth around the enterprise as well.

我們仍然看到現場製作的持續增長。我們有一份很棒的（聽不清）高質量 4K 無線系統列表。不僅是內容所有者和廣播公司，每個大型企業都是媒體公司。他們必須與他們的選民、員工、投資者和客戶進行溝通，而我們擁有的能力使他們能夠以更高效、更優質的方式做到這一點。因此，我們在企業方面也取得了一些非常好的增長。

And as I mentioned, finally, it all comes down to opportunity, how do we identify those opportunities to bring those qualified leads in and then close on them. So we have a very strong pipeline of qualified opportunities that the sales teams are bringing in and working to close. So our focus is on increasing that pipeline as well as closing the opportunities that are in front of us. And so we're very focused on that. We're very excited about that. We've reenergized the product line, the footprint that we have, the team and our customer base and our focus around providing innovative solutions to those customers.

正如我提到的，最後，這一切都歸結為機會，我們如何識別那些機會，將那些合格的潛在客戶帶入，然後關閉它們。因此，我們擁有非常強大的合格機會渠道，銷售團隊正在引入並努力關閉這些機會。因此，我們的重點是增加管道以及關閉擺在我們面前的機會。所以我們非常專注於此。我們對此感到非常興奮。我們重新激活了產品線、我們擁有的足跡、團隊和我們的客戶群，以及我們為這些客戶提供創新解決方案的重點。

So we're really excited about 2023. We looked as 2022 a transition year for us, where we cleaned up a lot of things, a lot of legacy things we're able to transition away from a large Army U.S. Army order, and now we're in a position, which a more diversified customer set, but also the opportunity to grow in defense opportunities as we see those through our initiatives to grow that area as well.

所以我們對 2023 年感到非常興奮。我們認為 2022 年對我們來說是一個過渡年，在那裡我們清理了很多東西，很多遺留的東西我們能夠從美國陸軍的大型訂單中過渡出來，現在我們處於一個更多元化的客戶群的位置，但也有機會在國防機會中成長，因為我們也通過我們在該領域發展的舉措看到了這些機會。

Next slide, please. So now we're at the Q&A. So we'd like to open up, please. We have a list of questions on the website. (Operator Instructions).

請換下一張幻燈片。現在我們進入問答環節。所以我們想開放，拜託。我們在網站上有一個問題列表。 （操作員說明）。

I think the first one is, are you going to do a reverse split?

我認為第一個是，你要進行反向拆分嗎？

So as you know, in January, our stockholders authorized us to effect a reverse split so that we could regain compliance with NASDAQ minimum bid price of $1 per share for 10 trading days. So that's been voted and it's been approved. And we appreciate everyone who took the time to vote for that. We're monitoring our stock price and the various factors to when we think it would be appropriate to implement a reverse split and at what ratio if our stock does not regain compliance on its own.

如您所知，在 1 月份，我們的股東授權我們進行反向拆分，以便我們可以在 10 個交易日內重新遵守納斯達克每股 1 美元的最低出價。所以它已經投票並獲得批准。我們感謝所有花時間為此投票的人。我們正在監控我們的股價和各種因素，以確定何時我們認為實施反向拆分是合適的，以及如果我們的股票不能自行恢復合規，則以什麼比例進行。

Obviously, we'd love for it to regain compliance on its own. We're (inaudible) May 15. If we have not regained compliance by then, (inaudible) to appeal any delisting notice to a NASDAQ hearing's panel, pending which we fully expect our stock, we'll continue to trade on NASDAQ.

顯然，我們希望它能夠自行恢復合規性。我們是（聽不清）5 月 15 日。如果到那時我們還沒有恢復合規，（聽不清）向納斯達克聽證會小組提出任何退市通知上訴，等待我們完全期待我們的股票，我們將繼續在納斯達克交易。

As part of that hearing process, we expect to commit to a time line entering (inaudible) to regain (inaudible) requirement. So those are our requirements that we have. As you know, Mike and I have not been a big proponents of reverse splits. However, NASDAQ does have a requirement that you'd be above $1, and we've had now 2 extensions. So as I said, we're going to see how the stock performs. We're very encouraged about the future of our company and the future of our results, and we'll implement a split if it's needed. But as I said, we'll continue to monitor the situation. So I think (inaudible).

作為該聽證會流程的一部分，我們希望承諾進入（聽不清）重新獲得（聽不清）要求的時間線。所以這些就是我們的要求。如你所知，邁克和我並不是反向拆分的大力支持者。但是，納斯達克確實要求您的股票價格高於 1 美元，我們現在有 2 次延期。所以正如我所說，我們將看看股票的表現。我們對公司的未來和業績的未來感到非常鼓舞，如果需要，我們將實施拆分。但正如我所說，我們將繼續監測情況。所以我認為（聽不清）。

Yes. I think I see a number of questions regarding our outreach to our investors and how we intend to communicate in the future.

是的。我想我看到了很多關於我們與投資者的聯繫以及我們打算如何在未來進行溝通的問題。

And let's just say that we endeavor to obviously keep a full line of communication open with our investors and keep you apprised as much as possible about what we are doing within the company. We have recently taken steps to kind of increase our outreach to our investors. We're actually engaging a new Investor Relations PR firm to help us in that regard, and we do expect to continue to have increased communications with our investors and our constituencies.

我們只想說，我們顯然努力與我們的投資者保持全面的溝通渠道，並讓您盡可能多地了解我們在公司內部所做的事情。我們最近採取了一些措施來增加我們與投資者的聯繫。實際上，我們正在聘請一家新的投資者關係公關公司來幫助我們解決這方面的問題，我們確實希望繼續加強與投資者和選民的溝通。

Yes. Good point, Mike. We -- as Mike said, we just retained Gateway IR to help us on the IR side. We know we have an opportunity to improve there, and they're going to help us. This is the first earnings call that they've been a part of and have been on for a very short time. So we're very optimistic that we'll be able to increase the communications with our investor community and keep you apprised of how we're developing to the goals that we've set.

是的。好點，邁克。我們——正如 Mike 所說，我們只是保留了 Gateway IR 來幫助我們在 IR 方面。我們知道我們有機會在那裡改進，他們會幫助我們。這是他們參加並持續很短時間的第一次財報電話會議。因此，我們非常樂觀地認為，我們將能夠增加與投資者社區的溝通，並讓您了解我們如何實現我們設定的目標。

Another question I see, do you have outstanding quotations with any military foreign or domestic that may help replace your former Afghan income?

我看到的另一個問題是，您是否有任何可能有助於取代您以前在阿富汗收入的外國或國內軍事人員的優秀報價？

Within -- it was a large program with the U.S. Army over 1 product with 1 customer. So we don't have any of that size with 1 customer, but we do have with foreign and public safety here in the U.S., but for militaries outside NATO militaries, outside around our AVDS product line. As I said, that's a product line that brings a lot of capabilities around surveillance and control, and we've got a great reception. And historically, Vislink has been a provider in those areas over years. So we're a known entity in that area, and we're considered a trusted source for that solution. So we're very excited about the opportunity we're seeing there.

在內部——這是一個與美國陸軍合作的大型項目，涉及 1 個客戶的 1 種產品。因此，我們沒有 1 個客戶的任何規模，但我們在美國確實有外國和公共安全，但對於北約軍隊以外的軍隊，在我們的 AVDS 產品線之外。正如我所說，這是一個產品線，帶來了很多圍繞監視和控制的功能，我們受到了很好的歡迎。從歷史上看，Vislink 多年來一直是這些領域的供應商。因此，我們是該領域的知名實體，我們被認為是該解決方案的可靠來源。因此，我們對在那裡看到的機會感到非常興奮。

Here's a question from Peter. He's asked what's our cash position?

這是彼得的問題。他問我們的現金頭寸是多少？

And I think we had mentioned that we ended the year 2022 with $25.6 million of cash. We expect to continue to manage our cash very carefully. We did invest in some increased R&D last year to bring out some of our new products. And we do also invest in our go-to-market model to make sure we're enhancing that so we can reach out to these new and more exciting customers that Mickey mentioned. But we do expect to be somewhat cash neutral throughout the rest of the year, unless we make an investment in an acquisition or something like that.

我想我們已經提到我們在 2022 年結束時擁有 2560 萬美元的現金。我們希望繼續非常謹慎地管理我們的現金。去年我們確實投資了一些增加的研發以推出我們的一些新產品。我們也確實投資於我們的上市模式，以確保我們正在加強這種模式，以便我們能夠接觸到 Mickey 提到的這些新的和更令人興奮的客戶。但我們確實希望在今年餘下的時間裡在某種程度上保持現金中性，除非我們對收購或類似的事情進行投資。

Okay. We have a question from Brian Kintslinger, that's Alliance Global Partners analyst. Can you quantify total revenue from public safety and sports entertainment in 2022? And adjusting for inventory charge, why was the gross margin abnormally low compared to your recent trends?

好的。 Alliance Global Partners 分析師 Brian Kintslinger 提出了一個問題。您能否量化 2022 年公共安全和體育娛樂的總收入？調整庫存費用後，為什麼毛利率與你們最近的趨勢相比異常低？

On the first one, Brian, sports entertainment is a lion's share, 90% plus of live production and public safety in '22, was 90% plus of the MilGov segment as we report.

在第一個，布萊恩，體育娛樂是最大的份額，22 年 90% 以上的現場製作和公共安全，正如我們報告的那樣，是 MilGov 部分的 90% 以上。

On the inventory charge around the gross margins of 47%, as Mike mentioned, it was largely due to volume and some mix, but largely volume that impacted that down from our traditional. I think we were at 55% or so in the prior year.

正如 Mike 提到的那樣，在 47% 左右的庫存費用中，這主要是由於數量和一些組合，但主要是數量影響了我們的傳統。我認為我們在前一年的比例為 55% 左右。

That's right. And to Brian's point, there was a small amount of the total write-off related to inventory that did go above the line. It did go against our gross margin. But as Mickey mentioned, most of it was purely volume related this year. And we expect next year, as I said, for that -- those margins to go back up to where they normally have been.

這是正確的。就 Brian 的觀點而言，與庫存相關的總註銷中有一小部分確實超出了這條線。它確實違背了我們的毛利率。但正如 Mickey 所提到的，今年大部分都與銷量有關。正如我所說，我們預計明年 - 這些利潤率將回到正常水平。

Okay. I'm just continuing to look at the recent. Yes. I do you see current developments on AI as it -- go ahead. Go ahead.

好的。我只是繼續看最近的。是的。我看到你看到人工智能的當前發展——繼續吧。前進。

I'm sorry, Brian asked, you'd probably answer this better than I. What's been our ROI? And what's been our experience in the trade shows?

對不起，布賴恩問道，你可能會比我回答得更好。我們的投資回報率是多少？我們在貿易展上的經驗是什麼？

Yes. I can just speak for this year, (inaudible) security (inaudible) in U.K. Those are very targeted. So it's not like you see a lot of potential customers, but the ones that you see are highly qualified and there for a reason, typically to acquire systems. So our strategy is from a trade show is twofold. One, we'll do the 2 large broadcast trade shows, 1 being IBC in September and April for NAB, that's in the U.S. And then we're very targeted with the public safety and the sports and entertainment shows that we do during the year.

是的。我只能說今年，英國的（聽不清）安全（聽不清）這些非常有針對性。所以這並不是說你看到很多潛在客戶，而是你看到的那些都是高素質的，而且是有原因的，通常是為了獲得系統。所以我們的策略來自貿易展是雙重的。第一，我們將舉辦 2 場大型廣播貿易展，其中 1 場是 9 月的 IBC 和 4 月的 NAB，那是在美國。 .

So for instance, Milipol or security policing and their Heli-Expo are all big shows where they're not large shows, but the quality of the participants and allow us to get -- to walk away with many qualified reads. Whereas it's the largest show, you get a lot of names and a lot of people walking through, but the percentage of true potential buyers is a smaller percentage. Whereas the smaller shows, it's a much higher percentage because it's a much more qualified, smaller growth.

因此，例如，Milipol 或安全警務和他們的 Heli-Expo 都是大型節目，它們不是大型節目，而是參與者的質量，讓我們能夠 - 離開許多合格的閱讀。雖然這是最大的展會，但你會看到很多名字和很多人，但真正的潛在買家所佔的比例較小。而較小的節目，它的百分比要高得多，因為它的質量更高，增長更小。

Question from Byron asked, since Q1 is almost complete, can we give guidance?

Byron的問題問到，Q1快完成了，能給個指導嗎？

And Byron, we don't give guidance as a rule. But we are, as Mickey mentioned, very encouraged by the uptick in interest for our new products, our new services. We think this is a prelude to what we think 2023 will look like, which we think is going to be very positive. But again, we don't give guidance. We have not given guidance in the past. We're not giving guidance for this quarter.

拜倫，我們通常不提供指導。但是，正如 Mickey 所提到的，人們對我們的新產品和新服務的興趣上升讓我們感到非常鼓舞。我們認為這是我們認為 2023 年會是什麼樣子的前奏，我們認為這將是非常積極的。但同樣，我們不提供指導。我們過去沒有給出指導。我們沒有為本季度提供指導。

Okay. So I'm just scrolling to the bonds, if we have any additional new questions. I think do you see current developments on AI as an opportunity for the company?

好的。所以我只是滾動到債券，如果我們有任何其他新問題。我認為你認為人工智能的當前發展對公司來說是一個機會嗎？

I think everybody has heard about ChatGPT 4 and the capabilities that can bring. Certainly that capability, LLM or other AI, like the AI that we're doing in our current products, ultimately, video-centric networks and all networks will be automated. The first part of that is digitizing. So when you look at the journey that we've been on in the video world, SDI was the standard not so long ago. And that was effectively an analog standard digitized, but not IP-based. Now everything is moving to IP-based. And once you're at an IP-based solution, it's very easy to digitize things and automate things. So that's what we're working on. We're working on IP-based COFDM. Obviously, our bonded solutions are IP-based, our 5G 4Live solutions are IP-based and our AI solutions are IP-based.

我想每個人都聽說過 ChatGPT 4 及其帶來的功能。當然，這種能力，LLM 或其他 AI，就像我們在當前產品中所做的 AI 一樣，最終以視頻為中心的網絡和所有網絡都將實現自動化。第一部分是數字化。所以當你回顧我們在視頻世界的旅程時，SDI 是不久前的標準。這實際上是一種數字化的模擬標準，但不是基於 IP 的。現在一切都在向基於 IP 的方向發展。一旦您採用了基於 IP 的解決方案，就可以非常輕鬆地將事物數字化和自動化。這就是我們正在努力的。我們正在研究基於 IP 的 COFDM。很明顯，我們的綁定方案是IP化的，我們的5G 4Live方案是IP化的，我們的AI方案是IP化的。

So as everything converges on Internet protocol, we'll be able to automate and digitize. And that's really where the magic of what we bring in terms of the software that's delivered over our hardware solutions brings opportunities for our customers to do so much more efficiently. So it's either about creating amazing content, but doing it at a lower price point, so that efficiencies in the system are there, creating automation to be able to identify what the ideal highlights are. There are so many ways that AI is going to impact our industry, both on the public safety side as well as on the sports entertainment side, live production side. And we're going to be at the forefront of it.

因此，隨著一切都匯聚在互聯網協議上，我們將能夠實現自動化和數字化。而這正是我們在通過硬件解決方案交付的軟件方面所帶來的魔力，為我們的客戶帶來了更高效地做事的機會。因此，它要么是關於創建令人驚嘆的內容，但要以較低的價格進行，以便提高系統的效率，創建自動化以能夠識別理想的亮點是什麼。人工智能將以多種方式影響我們的行業，無論是在公共安全方面，還是在體育娛樂方面，現場製作方面。我們將站在它的最前沿。

So I think that's all the questions we have. Again, we will be connecting with our investor base more consistently now with Matt Glover and Tom Coulton from Gateway Group leading us on the IR side. If you have any questions, please shoot it to our VISL@gatewayir.com, and we'll continue to focus on the basics of taking this opportunity, a funnel that we have, increasing that funnel as well as converting that funnel to orders and targeting our software services business and our growth engine around public safety and sports entertainment. Thanks, everyone.

所以我認為這就是我們的所有問題。同樣，我們現在將與 Gateway Group 的 Matt Glover 和 Tom Coulton 在 IR 方面領導我們的投資者群保持更一致的聯繫。如果您有任何問題，請發送至我們的 VISL@gatewayir.com，我們將繼續關注利用這個機會的基礎知識，我們擁有的漏斗，增加該漏斗以及將該漏斗轉換為訂單和針對我們的軟件服務業務和我們圍繞公共安全和體育娛樂的增長引擎。感謝大家。

Thank you.

謝謝。

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

會議現已結束。感謝您參加今天的演講。您現在可以斷開連接。