Vislink Technologies Inc (VISL) 2024 Q1 法說會逐字稿

Gooding morning.

早安.

Welcome to Vislink first quarter 2024 earnings conference call.

歡迎參加 Vislink 2024 年第一季財報電話會議。

My name is Marlis, and I will be your operator for today's call.

我叫馬利斯，我將擔任您今天通話的接線生。

Joining us today for today's presentation are the company's CEO, Mickey Miller, and CFO, Mike Bond, who will report results for the first quarter ended March 31, 2024.

今天與我們一起參加今天的演講的是公司首席執行官米奇·米勒(Mickey Miller) 和首席財務官邁克·邦德(Mike Bond)，他們將報告截至2024 年3 月31 日的第一季業績。

A copy of the press release is available on the company's website.

該新聞稿的副本可在該公司網站上取得。

Before we begin the call, I would like to provide this link Safe Harbor statement, which includes cautions regarding forward-looking statements made during this call.

在我們開始通話之前，我想提供此連結安全港聲明，其中包括有關本次通話期間做出的前瞻性聲明的警告。

Management will make statements during the call that include forward-looking statements within the meaning of the federal securities laws, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

管理層將在電話會議期間發表聲明，其中包括聯邦證券法含義內的前瞻性聲明，這些聲明是根據 1995 年《私人證券訴訟改革法案》的安全港條款制定的。

Statements contained in this call that are not statements of historical fact should be deemed to be forward-looking statements.

本次電話會議中所包含的非歷史事實陳述的陳述應被視為前瞻性陳述。

All forward-looking statements, including, without limitation, our examination of operating trends and financial expectations are based upon the company's current estimates and various assumptions.

所有前瞻性陳述，包括但不限於我們對營運趨勢和財務預期的審查，均基於公司當前的估計和各種假設。

These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements.

這些陳述涉及重大風險和不確定性，可能導致實際結果或事件與這些前瞻性陳述預期或暗示的結果或事件有重大差異。

Accordingly, you should not rely on this statement for a list of the risks and uncertainties associated with the Company's business please see the Company's filings with the Securities and Exchange Commission.

因此，您不應依賴本聲明來取得與本公司業務相關的風險和不確定性列表，請參閱本公司向美國證券交易委員會提交的文件。

This link disclaims any intention, our obligation, except as required by law to update or revise any financial projections or forward-looking statements, whether because of new information, future events or otherwise conference call contains time-sensitive information that accurate only as of the live broadcast this morning May 15, 2024.

此連結不承擔任何意圖，我們沒有義務，除非法律要求更新或修改任何財務預測或前瞻性陳述，無論是因為新資訊、未來事件或其他電話會議包含僅截至當前準確的時間敏感資訊。月15日今天上午直播。

And now I would like to turn the call over to Vislink's CEO, Mr. Mickey Miller.

現在我想將電話轉給 Vislink 的執行長 Mickey Miller 先生。

Sir, please go ahead.

先生，請繼續。

Thank you, operator, and thank you, everyone, for joining us today. this morning.

謝謝運營商，也謝謝大家今天加入我們。今天早上。

We filed our 10-K with the SEC and issued a press release that provided our financial results for the first quarter ended March 31, 2024, along with key business accomplishments.

我們向 SEC 提交了 10-K 並發布了新聞稿，提供了截至 2024 年 3 月 31 日的第一季財務業績以及主要業務成就。

As a brief overview for today's call, I'll start by discussing our first quarter performance and highlighting our progress towards our three-year financial goals and then pass the call to Mike to discuss our financial results.

作為今天電話會議的簡要概述，我將首先討論我們第一季的業績並強調我們在實現三年財務目標方面取得的進展，然後將電話轉給麥克討論我們的財務業績。

Afterward, I'll come back to discuss recent updates within our key target markets, type developments and updates on our go-to-market strategies.

之後，我將回來討論我們的主要目標市場的最新更新、類型開發以及我們的上市策略的更新。

With that, let me begin by expressing our enthusiasm about the strides we've made and our optimism for visits first quarter of 2024 has further solidified Vislink's foundation, demonstrating substantial financial and operational gains directly resulting from the strategic initiatives that we implemented two years ago to increase operating leverage.

首先，請允許我表達我們對我們所取得的進步的熱情，以及我們對2024 年第一季訪問的樂觀態度，這進一步鞏固了Vislink 的基礎，展示了我們兩年前實施的戰略舉措直接帶來的巨大財務和營運收益以提高經營槓桿。

In Q1, we achieved a 20% year over year revenue increase, reaching $8.6 million.

第一季度，我們的營收年增 20%，達到 860 萬美元。

This growth was primarily driven by robust sales of Milgard customers fueled by the adoption of our AirLink platform and opportunities opened by the BMS asset acquisition.

這一成長主要是由於採用我們的 AirLink 平台以及 BMS 資產收購帶來的機會所推動的 Milgard 客戶的強勁銷售。

These factors combined with increased governmental investment.

這些因素與政府投資的增加相結合。

Given the current geopolitical landscape have reinforced our market presence.

鑑於當前的地緣政治格局加強了我們的市場影響力。

Our continuous focus on innovation has led to recent product rollouts like click and lively.

我們對創新的持續關注導致了最近推出的產品，例如 Click 和 Live。

These links newer products are strategically designed to serve the military, government, sports and media sectors.

這些連結的新產品經過戰略設計，旨在服務軍事、政府、體育和媒體部門。

Both click and Livelink have been met with strong early interest, and we expect that these higher margin products will enhance both our top and bottom-line financial results as sales ramp up.

Click 和 Livelink 都在早期引起了強烈的興趣，我們預計，隨著銷售額的增加，這些利潤率較高的產品將提高我們的營收和利潤財務表現。

We are demonstrating continued progress in developing link matrix to fit the needs and preferences of customers in our target markets.

我們正在展示在開發連結矩陣方面的持續進展，以滿足目標市場客戶的需求和偏好。

Our efforts to promote services and integrate our linked matrix software and our hardware offerings are proving successful as demonstrated by services and software revenue grown to represent 16% of total revenue in the first quarter, up from 13% in 2023.

事實證明，我們推廣服務以及整合連結矩陣軟體和硬體產品的努力是成功的，第一季服務和軟體收入佔總收入的 16%，高於 2023 年的 13%。

Additionally, our air to anywhere AVDS platform and the introduction of Dragonfly five are poised to drive further growth.

此外，我們的空運到任何地方 AVDS 平台和 Dragonfly 5 的推出有望推動進一步成長。

We are intensifying our sales and marketing initiatives, which are showing traction as evidenced by our newer products, becoming an increasing part of our total revenue and we anticipate that the products we introduced over the last few years will approach nearly 70% of total revenue this year.

我們正在加強我們的銷售和行銷計劃，這些計劃正在顯示出吸引力，我們的新產品證明了這一點，它們在我們總收入中所佔的比例越來越大，我們預計過去幾年推出的產品將接近今年總收入的近70%。

This strategy not only enhances our value proposition across various use cases.

該策略不僅增強了我們在各種用例中的價值主張。

It also unlocks higher margin revenue channels through our device management ecosystem linked matrix.

它還透過我們的設備管理生態系統連結矩陣解鎖更高利潤的收入管道。

Looking ahead, we are optimistic about our trajectory as we are working with our largest weighted sales pipeline since the pandemic valued at $48 million entering the second quarter.

展望未來，我們對自己的發展軌跡感到樂觀，因為我們正在開發自疫情以來最大的加權銷售管道，進入第二季價值達 4,800 萬美元。

Additionally, we are actively engaging in opportunities to leverage our existing solutions to expand our involvement in new markets such as drone command and control or drone sea two, we are invigorated by the momentum we've built and are continuing to ramp up our sales and marketing efforts to support our recent product launches.

此外，我們正在積極抓住機會，利用我們現有的解決方案來擴大我們在無人機指揮和控製或無人機海二等新市場的參與，我們對我們已經建立的勢頭感到鼓舞，並繼續提高我們的銷售和行銷工作以支援我們最近的產品發布。

As we proceed, we are on track to achieve cash flow neutrality by the end of 2024 and our aim to be cash flow positive by 2025.

隨著我們的推進，我們預計在 2024 年底實現現金流中性，並目標到 2025 年實現正現金流。

We are continuously evolving our operations, but we are proactively identifying areas for operational enhancements and cost saving measures.

我們不斷發展我們的運營，但我們正在積極確定營運增強和成本節約措施的領域。

These ongoing efforts are crucial as we work to drive further revenue growth and enhanced profitability.

這些持續的努力對於我們努力推動收入進一步成長和提高獲利能力至關重要。

Before I go further, I'll pass the call over to our CFO, Mike Bond, to provide a detailed overview of financial results for the first quarter.

在進一步討論之前，我將把電話轉給我們的財務長 Mike Bond，以提供第一季度財務業績的詳細概述。

Mike?

麥克風？

Thank you, Mickey, and good morning, everyone.

謝謝米奇，大家早安。

Looking in our financial results for the first quarter, our total revenue increased to $8.6 million, up from $7.2 million in the prior year period and a sequential increase from $8.1 million in Q4 2023.

從我們第一季的財務表現來看，我們的總營收從去年同期的 720 萬美元增至 860 萬美元，與 2023 年第四季的 810 萬美元相比季增。

The increase in revenue was primarily driven by a jump in sales to military and government markets.

收入的成長主要是由於對軍事和政府市場的銷售激增所致。

Gross profit increased to $4.8 million, up from $3.7 million in the prior year period.

毛利從去年同期的 370 萬美元增至 480 萬美元。

Gross profit margin for the quarter was 59%, up from 54% in the prior year period year over year.

本季毛利率為 59%，高於去年同期的 54%。

Improvement in gross margin reflects greater operating efficiency and a higher mix of software and services revenue.

毛利率的提高反映了更高的營運效率以及更高的軟體和服務收入組合。

Total expenses were $10.2 million compared to $9.5 million in the prior year period.

總支出為 1,020 萬美元，而去年同期為 950 萬美元。

This change is due to our increased focus on sales and marketing as we push to expand our reach and support our new product line.

這項變更是由於我們在努力擴大業務範圍和支援新產品線的過程中更加重視銷售和行銷。

Turning now to our profitability measures.

現在轉向我們的獲利能力指標。

Operating loss improved to $1.6 million down from a loss of $2.3 million in the prior year period.

營業虧損從去年同期的虧損 230 萬美元減少至 160 萬美元。

This improvement is a direct result of our increased revenue and higher margins, demonstrating the effectiveness of our strategic focus on more profitable product categories.

這項改進是我們收入增加和利潤率提高的直接結果，證明了我們對利潤更高的產品類別的策略重點的有效性。

Net loss attributable to common shareholders improved to $1 million or $0.39 per share from a loss of $1.8 million or $0.8 per share in the prior year period.

普通股股東應佔淨虧損從去年同期的虧損 180 萬美元或每股 0.8 美元增至 100 萬美元或每股 0.39 美元。

This improvement underscores our strategic cost management and ongoing efforts to enhance our operational efficiency.

這項改進凸顯了我們的策略成本管理以及為提高營運效率而不斷做出的努力。

Moving now to our balance sheet as of March 31, 2024, our cash and short-term investments stood at $13.8 million compared to $14.2 million at December 31, 2023 improving cash performance remains a top priority for us, and we have shown clear improvements in cash usage in Q1.

現在看看截至 2024 年 3 月 31 日的資產負債表，我們的現金和短期投資為 1,380 萬美元，而 2023 年 12 月 31 日為 1,420 萬美元，改善現金績效仍然是我們的首要任務，我們在第一季的現金使用情況。

We maintained a robust working capital of $31.2 million at the end of the first quarter compared to $31.8 million at December 31, 2023.

截至第一季末，我們維持了 3,120 萬美元的強勁營運資本，而截至 2023 年 12 月 31 日為 3,180 萬美元。

We expect to see continued improvements in our working capital turns in the coming quarters.

我們預計未來幾季我們的營運資金周轉率將持續改善。

Our strong balance sheet supports our operational flexibility, enabling us to actively pursue strategic acquisitions and partnerships, especially in the defense and public safety sectors.

我們強大的資產負債表支持我們的營運靈活性，使我們能夠積極尋求策略性收購和合作夥伴關係，特別是在國防和公共安全領域。

These moves aimed to expand our capabilities and market reach within the Milgard market.

這些措施旨在擴大我們在 Milgard 市場的能力和市場覆蓋範圍。

In summary, our efforts over the past two years to restructure our cost base, redesign our product lines, integrate two key acquisitions and rejuvenate our sales channels have begun to bear fruit, making a significant improvement in our profitability results as we progress into 2024.

總而言之，過去兩年我們在重組成本基礎、重新設計產品線、整合兩項關鍵收購以及振興銷售管道方面所做的努力已開始取得成果，隨著我們進入2024 年，我們的盈利能力將顯著改善。

These initiatives are expected to further solidify our positive growth trajectory.

這些舉措預計將進一步鞏固我們的正面成長軌跡。

This concludes my prepared remarks.

我準備好的發言到此結束。

I'll now turn it back to Mickey.

我現在把它轉回給米奇。

Thank you, Mike.

謝謝你，麥克。

Returning to operational updates in our Milgard markets, we continue to show impressive growth driven largely by the sales momentum of our early platform solutions.

回到 Milgard 市場的營運更新，我們繼續表現出令人印象深刻的成長，這主要是由我們早期平台解決方案的銷售勢頭推動的。

This growth is further propelled by the successful integration of the BMS assets.

BMS 資產的成功整合進一步推動了這一成長。

This quarter our focus on developing long-term relationships with OEMs is helping to build more predictable revenue streams for the future.

本季我們將重點放在與原始設備製造商建立長期關係，這有助於為未來建立更可預測的收入來源。

Notably, we successfully achieved approved supplier status with three new OEM partners in addition to our AirLink platform, our AnyWare offering and Livelink introduction are driving new revenue with Milgard customers.

值得注意的是，除了我們的 AirLink 平台之外，我們還成功獲得了三個新 OEM 合作夥伴的批准供應商地位，我們的 AnyWare 產品和 Livelink 的推出正在為 Milgard 客戶帶來新的收入。

These included a prominent European police department, deploying live link to bring live video from the field to help drive more proactive decisions and allocate resources more efficiently.

其中包括一個著名的歐洲警察部門，部署實時鏈接以從現場獲取實時視頻，以幫助推動更積極主動的決策並更有效地分配資源。

In the live production markets, we maintained a solid performance with revenue contributions consistent with the prior year period.

在現場製作市場，我們保持了穩健的業績，收入貢獻與去年同期一致。

This stability reflects the continued demand for our products with events like the Olympics on the horizon, we expect this trend to continue.

這種穩定性反映了隨著奧運等活動的臨近，對我們產品的持續需求，我們預計這種趨勢將持續下去。

Our involvement in significant industry events like the A2RL race series, which attracted 30,000 fans underscores the potential for future enhancements and broader applications in VR and AR experiences.

我們參與了 A2RL 競賽系列等重大行業活動，吸引了 30,000 名粉絲，這突顯了 VR 和 AR 體驗未來增強和更廣泛應用的潛力。

Turning to product updates, we anticipate that our new products will contribute almost all of our sales in 2026.

談到產品更新，我們預期新產品將貢獻 2026 年幾乎所有的銷售量。

A key driver of this growth is our ABTS air to AnyWare platform.

這一成長的關鍵驅動力是我們的 ABTS Air to AnyWare 平台。

This platform will significantly accelerate our software and service sales in the coming years by incorporating advanced analytics capabilities that augment our existing Visual Solutions.

該平台將透過整合增強我們現有視覺解決方案的高級分析功能，在未來幾年顯著加速我們的軟體和服務銷售。

This strategic focus is not just about increasing sales volumes.

這一策略重點不僅僅是增加銷量。

It's about enriching the quality and functionality of our solutions, ensuring that our technology anticipates market demands.

這是為了豐富我們解決方案的品質和功能，確保我們的技術能夠滿足市場需求。

The introduction of Dragonfly five and NAB 2024 represents a key strategic advancement in our product line as the Vislink smallest ever transmitter, specifically designed for dynamic environments where mobility and compact size are critical.

Dragonfly 5 和 NAB 2024 的推出代表了我們產品線的關鍵策略進步，作為 Vislink 有史以來最小的發射器，專為移動性和緊湊尺寸至關重要的動態環境而設計。

Dragonfly five excels in live video capture from POV cameras UAVs and body-worn devices, delivering high quality, real-time video transmission in a miniature package.

Dragonfly 5 擅長從 POV 攝影機、無人機和隨身設備進行即時視訊捕獲，以微型封裝提供高品質的即時視訊傳輸。

Moving forward, our strategy is to harness this technology to enhance sports and media broadcast experiences and integrate into broader applications such as emergency response surveillance and more in line with our strategic expansion, we are enhancing our solutions to AI video processing.

展望未來，我們的策略是利用這項技術來增強體育和媒體廣播體驗，並融入更廣泛的應用，例如緊急應變監控，並且更符合我們的策略擴張，我們正在增強人工智慧視訊處理解決方案。

This advancement aims to improve the detection and analysis of activities such as crowd control, drug trafficking and border surveillance.

這項進步旨在改善對人群控制、販毒和邊境監視等活動的檢測和分析。

Additionally, in 2023, we secured cloud distribution and storage of footage for our ABDS services, ensuring data accessibility and protection.

此外，到 2023 年，我們確保了 ABDS 服務的視訊片段的雲端分發和存儲，確保資料的可存取性和保護。

We continue to prioritize the protection of our customers' data.

我們繼續優先考慮保護客戶資料。

We're also improving our systems remote management capabilities, including integrated eSIM provisioning services.

我們也正在改進系統遠端管理功能，包括整合的 eSIM 設定服務。

These developments leverage our common circuit architecture and component base to enhance system scalability and quality while reducing costs, simplifying the management of our technologies and boosting their efficiency and effectiveness in our operations.

這些開發利用我們的通用電路架構和組件庫來增強系統的可擴展性和質量，同時降低成本，簡化我們的技術管理並提高其營運效率和有效性。

As for our go-to market strategies.

至於我們的市場進入策略。

We continue to see growth potential across our four focus areas live video, connectivity, video data, transport, ABTS and drone control and communications.

我們繼續看到直播視訊、連接、視訊資料、傳輸、ABTS 以及無人機控制和通訊四個重點領域的成長潛力。

In Q1, our efforts have gained considerable traction with new product introductions, driving increased market interest and trial usage.

在第一季度，我們的努力透過新產品的推出獲得了相當大的吸引力，推動了市場興趣和試用使用的增加。

We are heavily focused on demonstrations and trials in Q2 can to convert this interest into firm orders.

我們在第二季重點關注演示和試驗，可以將這種興趣轉化為確定的訂單。

We gain revenue traction in live connectivity and video data transport.

我們在即時連接和視訊資料傳輸方面獲得了收入成長。

Our bonded cellular technology plays a key role in a growing market where connected cameras from various venues and vehicles are essential.

我們的綁定蜂窩技術在不斷增長的市場中發揮關鍵作用，在這個市場中，來自不同場所和車輛的聯網攝影機至關重要。

We are advancing discussions with key OEM participants to understand their future requirements and align with this links technology roadmap, ensuring that our innovations to meet the evolving needs of our markets.

我們正在推進與主要 OEM 參與者的討論，以了解他們的未來需求並與此連結技術路線圖保持一致，確保我們的創新能夠滿足市場不斷變化的需求。

As I mentioned, we are seeing traction in drone C. two.

正如我所提到的，我們看到了無人機 C.2 的吸引力。

While this is an emerging market, we expect it to be fast growing in the years ahead.

雖然這是一個新興市場，但我們預計它將在未來幾年快速成長。

We are having meaningful conversations with key industry leaders and the feedback from the market and our OEM partners has been overwhelmingly positive, confirming the strong demand and expanding the reach of our technology suite.

我們正在與主要行業領導者進行有意義的對話，來自市場和我們的 OEM 合作夥伴的反饋非常積極，證實了強勁的需求並擴大了我們技術套件的覆蓋範圍。

As we move forward in 2024, our strategy is finely tuned to support the recent advancements and launches in our product lines.

隨著 2024 年的前進，我們的策略進行了微調，以支持我們產品線的最新進展和發布。

The significant role of our ABTS anywhere platform growth accelerate the growth of our software and service-based revenue streams.

我們的 ABTS Anywhere 平台成長發揮著重要作用，加速了我們基於軟體和服務的收入流的成長。

This transition aims to improve the functionality and quality of our Visual Solutions and align with our goal to increase sales volumes across targeted markets.

此次轉變旨在提高我們視覺解決方案的功能和質量，並與我們增加目標市場銷售的目標保持一致。

We remain focused on extending our reach and influence in the milk of markets.

我們仍然致力於擴大我們在市場中的影響力和影響力。

Our strategic efforts are bolstered by a strong sales pipeline.

我們的策略努力得到了強大的銷售管道的支持。

The largest post pandemic backlog, leisure experience and continuous improvements in operational efficiency.

疫情後最大的積壓、休閒體驗和營運效率持續提升。

These elements are key as we work to achieve cash flow neutrality by the end of 2024 and aim for positive cash flow in 2025.

這些因素對於我們努力在 2024 年底實現現金流中性並在 2025 年實現正現金流的目標至關重要。

Looking ahead, we are energized by the positive start to the year are dedicated to maintaining this momentum with our solid foundation from Q1 and the ongoing strategic initiatives are poised to drive us toward meeting our ambitious targets for this year and beyond.

展望未來，我們對今年的積極開局充滿活力，致力於憑藉第一季的堅實基礎來保持這一勢頭，持續的戰略舉措將推動我們實現今年及以後的宏偉目標。

As we progress, we are consistently refining our business model and are confident we will continue to reduce our cost base with a clear focus on operational excellence and market expansion, we are well positioned to capitalize on the opportunities ahead and continue driving innovation and value for our stakeholders.

隨著我們的進步，我們不斷完善我們的業務模式，並有信心我們將繼續降低成本基礎，明確關注卓越營運和市場擴張，我們已做好充分準備，充分利用未來的機遇，繼續推動創新和價值我們的利害關係人。

Operator, please provide the appropriate instructions.

操作員，請提供適當的說明。

(Operator Instructions) Brian Kinstlinger, Alliance Global Partners.

（操作員說明）Brian Kinstlinger，Alliance Global Partners。

Good morning.

早安.

Nice results.

不錯的結果。

I have a lot of questions.

我有很多問題。

The first a financial-related question.

第一個是與財務相關的問題。

You look at the makeup of your pipeline and backlog.

您查看管道和待辦事項的組成。

Do you think the gross margin is sustainable or I guess depending on the mix of products and customer set, what is the range of gross margin investors should come to expect over the next year, year-and-a-half?

您認為毛利率是可持續的嗎？ 或者我猜，根據產品和客戶群的組合，投資者在未來一年、一年半的毛利率範圍應該是多少？

Brian, Good morning.

布萊恩，早安。

Out of I'll hit on that and then turn it over to Mike for the numbers.

我會想到這一點，然後把它交給麥克來獲取數字。

But I think when we look at our pipeline, there's two key themes.

但我認為，當我們審視我們的管道時，有兩個關鍵主題。

One are the tailwinds that we see one is and the insatiable demand for live events.

一是我們看到的順風車，二是對現場活動永不滿足的需求。

I think in the US, 93 of the top 100 rated shows were live sporting or entertainment events.

我認為在美國，收視率最高的 100 場節目中有 93 場是現場體育或娛樂賽事。

So that's strong.

所以這很強大。

But then the no-go piece is an area given the political landscape, geopolitical landscape that we all live in the need for safety and security.

但考慮到我們所有人都生活在需要安全和保障的政治格局和地緣政治格局中，禁區是一個領域。

So we see a large driver there.

所以我們在那裡看到一個大司機。

So as we see more opportunities in that area, that typically is a little bit higher margin area for us.

因此，當我們在該領域看到更多機會時，這對我們來說通常是利潤率較高的領域。

So Mike, maybe you can give some color to that.

麥克，也許你可以給它一些色彩。

Brian, as we kind of move forward, we're seeing a higher mix of our newer products, as Mickey mentioned, and as we kind of exit some of the older products.

布萊恩，正如米奇所提到的那樣，隨著我們的前進，我們看到了新產品的更高組合，並且我們退出了一些舊產品。

We're seeing some pretty drastic increases in our margin.

我們看到我們的利潤率出現了相當大的成長。

So it whereas the old days, some of our older things head, we are a high 40s low 50s margin.

因此，在過去，我們的一些舊事物的頭，我們是 40 多歲低 50 多歲的利潤。

Now we're seeing more in the upper 50s to low 60s.

現在我們看到更多的是 50 多歲到 60 多歲的人。

So as we can continue to put more of the more of the new products into the mix we're going to start seeing high 50s, low 60s margins.

因此，當我們繼續將更多的新產品放入組合中時，我們將開始看到 50 年代的高利潤率，60 年代的低利潤率。

Great.

偉大的。

That's super helpful.

這非常有幫助。

And then can you talk about the upgrade cycle for the DMS customer base, which I think you talked about last quarter has some older technology.

然後您能否談談 DMS 客戶群的升級週期，我認為您在上個季度談到的升級週期有一些較舊的技術。

Can you size the opportunity just looking at customer sites?

您能否僅透過查看客戶網站來衡量機會？

Yes.

是的。

When we look at that the customer base, given the challenges of the Amazon was going through.

當我們審視客戶群時，考慮到亞馬遜正在經歷的挑戰。

They were in a position to help those customers that upgrade.

他們能夠幫助那些升級的客戶。

So what we've done with a lot of the customers is work with them on a transition period.

因此，我們對許多客戶所做的就是在過渡期與他們合作。

Many of these are designed into platforms.

其中許多被設計成平台。

So we are working with the customers to make sure they have the BMS product line to support their needs in the 12 to 18 month period and then work with them on a transition to a newer product, which will be higher compression, higher throughputs, better video quality and therefore, they're able to maintain their needs now and then migrate to newer technology along their product lifecycle.

因此，我們正在與客戶合作，確保他們擁有BMS 產品線來支援他們在12 到18 個月內的需求，然後與他們一起過渡到更新的產品，這將是更高的壓縮、更高的吞吐量、更好的性能。

So in the context of that opportunity for us, it's basically that customer base, which was pre-COVID, we've mentioned, was in the $20 million range, every single one of those customers, and we'll be needing upgrades at some point in time.

因此，就我們而言，就這一機會而言，我們已經提到過，在新冠疫情之前，客戶群的每一位客戶都在 2000 萬美元左右，我們需要在某些方面進行升級時間點。

Great.

偉大的。

And you've highlighted three new products.

您重點介紹了三種新產品。

Obviously, you announced the Dragonfly in a press release recently.

顯然，您最近在新聞稿中宣布了蜻蜓。

Can you quantify the addressable market these for the initial target customers?

您能否量化初始目標客戶的潛在市場？

Are they in your existing customers?

他們是您現有的客戶嗎？

Are they a brand new customer?

他們是全新客戶嗎？

And then lastly, I know it's a three-part question.

最後，我知道這是一個由三個部分組成的問題。

How do we think about average unit selling price?

我們如何看待平均單位售價？

Or are they recurring pieces?

還是它們是重複出現的片段？

Maybe take us through the model there?

也許帶我們來了解那裡的模型？

Yes.

是的。

So in terms of the that the new products and that would include click, live link and Dragonfly five.

因此，就新產品而言，將包括 Click、Live Link 和 Dragonfly 5。

Those have been all introductions that we've had in the last nine months.

這些是我們在過去九個月所做的所有介紹。

Those are for both existing customers and new customers.

這些適用於現有客戶和新客戶。

So from an existing customer base, what that basically is that it gives our customers the options to have either proprietary custom solution over a public or private 5G solution all connected through link matrix.

因此，從現有的客戶群來看，基本上，它為我們的客戶提供了選擇，讓他們可以選擇擁有專有的客製化解決方案，而不是透過鏈路矩陣連接的公共或私人 5G 解決方案。

So we the way we look at those products are basically a Trojan horse to drive software and services recurring sales.

因此，我們看待這些產品的方式基本上是驅動軟體和服務經常性銷售的特洛伊木馬。

So that number one exists with our current customers, but it opens up a lot of new markets and opportunities for its effect on the live link.

因此，第一名存在於我們目前的客戶中，但它為即時連結的影響開闢了許多新的市場和機會。

Our first opportunity that we delivered on or around bringing live video from belts, attach live links to the cloud for a large police group in Europe.

我們的第一個機會是在從傳送帶上傳送即時視訊時或周圍提供的，為歐洲的一個大型警察集團附加到雲端的即時連結。

And so it now opens up that type of market for us with a very sleek, slim, high density of package size that allows it to be very mobile.

因此，它現在為我們打開了此類市場，其封裝尺寸非常時尚、纖薄、高密度，使其非常便於移動。

Similarly, with slick and Livelink, we'll see the same type of thing.

同樣，對於 slick 和 Livelink，我們會看到相同類型的東西。

So it not only supports our existing customers, but also broadens the opportunity for our overall plan to drive more software service sales through our UEY.'s.

因此，它不僅支持我們現有的客戶，而且還拓寬了我們整體計劃的機會，透過我們的 UEY 推動更多的軟體服務銷售。

Is there a way to think about either average selling price, total contract value for some of these products?

有沒有辦法考慮其中一些產品的平均售價、合約總價值？

Are they relatively small of a relatively large?

它們是相對較小還是相對較大？

How do I think about that?

我對此有何看法？

Yes, I think the best way to think about it.

是的，我認為最好的思考方式是。

Typically, our order size will include one or multiple types of those price as they meet the different demands for their use case.

通常，我們的訂單規模將包括這些價格中的一種或多種類型，因為它們滿足其用例的不同需求。

So in the case of a live broadcast.

那麼在直播的情況下。

They may have a lively they may have gotten quicker than they may have on a our Dragonfly or several sets is highly dependent upon what the use cases and what they're trying to achieve.

他們的活躍程度可能比我們的 Dragonfly 或幾組更快，這在很大程度上取決於用例和他們想要實現的目標。

And then in on public safety, typically you see some uniformity around what they want to deploy because they're basically integrating into their current workflows and operations.

然後在公共安全方面，通常您會看到他們想要部署的內容存在一些一致性，因為他們基本上正在整合到當前的工作流程和操作中。

So we're trying to standardize around a certain package size.

因此，我們正在嘗試圍繞特定的封裝尺寸進行標準化。

And then you talked about increasing investment in sales and marketing that people that advertising maybe break down what those investments are?

然後您談到增加對銷售和行銷的投資，廣告可能會分解這些投資是什麼？

Yes, that's the number one is people we've added we've had additional sales capability.

是的，第一是我們增加的人員，我們擁有額外的銷售能力。

We are kicking off a arm and SEO effort, which will be incremental and will go at that slow, but largely it's people.

我們正在啟動一項手臂和搜尋引擎優化工作，這將是漸進的，並且進展緩慢，但主要是人類。

And we've integrated the overall sales force instance, that BMS has had into the overall Salesforce instance of vigilant.

我們已將 BMS 的整體銷售團隊實例整合到警惕的整體 Salesforce 實例中。

And so that increase as well.

所以這個數字也會增加。

Great.

偉大的。

Last question I've got is you mentioned three OEMs.

我的最後一個問題是你提到了三個原始設備製造商。

I think if I heard you right, approved you as a supplier, are you able to identify who those OEMs are?

我想如果我沒聽錯，批准你作為供應商，你能確定那些原始設備製造商是誰嗎？

We have, but we've got it.

我們有，但我們已經得到了。

I can say that two of them are man aircraft and the others are and one is unmanned.

我可以說其中兩架是載人飛機，其他是一架無人駕駛飛機。

And I think that's the area that we see a huge potential for us and his direct drone command and control.

我認為這對我們和他的直接無人機指揮和控制來說是一個巨大潛力的領域。

It's an emerging market for us.

對我們來說這是一個新興市場。

We see tremendous potential there globally, and it's really taking the technologies that we have around beamforming bonding, channel bonding and resilient radios, software defined radios that allow us to address that particular need in a very efficient way.

我們在全球範圍內看到了巨大的潛力，並且它確實利用了我們在波束成形綁定、通道綁定和彈性無線電、軟體定義無線電方面擁有的技術，使我們能夠以非常有效的方式滿足特定需求。

So we're really excited about that.

所以我們對此感到非常興奮。

It's still early in that market.

該市場仍處於早期階段。

We do have revenues in that market currently today, but we think that could be a really huge upside for us in the future.

目前我們在該市場確實有收入，但我們認為這對我們未來來說可能是一個巨大的優勢。

Great.

偉大的。

Thank you so much.

太感謝了。

Thanks, Brain.

謝謝，大腦。

Thanks, Brain.

謝謝，大腦。

And this concludes our question-and-answer session.

我們的問答環節到此結束。

I'd like to turn the call back over to Mickey for some closing remarks.

我想將電話轉回給米奇，讓他做一些結束語。

Please go ahead.

請繼續。

Thank you for joining us today, everyone.

感謝大家今天加入我們。

This quarter marks a significant stride forward in our journey, a testament to the hard work of our team and the strong support from our investors.

本季標誌著我們的旅程向前邁出了一大步，證明了我們團隊的辛勤工作和投資者的大力支持。

Our mission to revolutionize video capture and delivery and advance new golf markets through innovative technology continues to drive our strategic direction as we reflect on a successful start to the year.

我們的使命是透過創新技術徹底改變視訊捕捉和傳輸並推進新的高爾夫市場，這將繼續推動我們的策略方向，因為我們回顧了今年的成功開局。

We are energized by the opportunities that lie ahead with a solid financial foundation and a clear strategic direction.

憑藉著堅實的財務基礎和明確的策略方向，我們對未來的機會充滿活力。

We are confident that we can maintain this momentum and reach new heights.

我們有信心能夠保持這一勢頭並達到新的高度。

Thank you for your continued trust and support.

感謝您一直以來的信任與支持。

Operator?

操作員？

Thank you very much for joining us today for this Lynx First Quarter 2024 conference call.

非常感謝您今天參加我們的 Lynx 2024 年第一季電話會議。

You may now disconnect and have a great day.

您現在可以斷開連接並度過愉快的一天。