Wrap Technologies Inc (WRAP) 2023 Q2 法說會逐字稿

Good afternoon and welcome to Wrap Technologies' second-quarter 2023 earnings conference call. May name is Nima Parikh and I'm the Chief Marking Officer at Wrap. Joining me today is Wrap Technologies' Chief Executive Officer, Kevin Mullins, and our Chief Financial Officer, Chris DeAlmeida.

下午好，歡迎參加 Wrap Technologies 2023 年第二季財報電話會議。我的名字是 Nima Parikh，我是 Wrap 的首席行銷長。今天加入我的是 Wrap Technologies 執行長 Kevin Mullins 和我們的財務長 Chris DeAlmeida。

Following their prepared remarks, we will address a few questions submitted from shareholders. I would like to remind everyone that this call will be recorded and made available for replay via our link in the Investor Relations section of the company's website at ir.wrap.com. Additionally, the company ask that all interested parties register on the Investor Relations website at ir.wrap.com to continue to receive alerts and stock information.

在他們準備好的發言之後，我們將回答股東提出的一些問題。我想提醒大家，本次電話會議將會被錄音，並可透過公司網站 ir.wrap.com 投資者關係部分的連結重播。此外，該公司要求所有有興趣的各方在投資者關係網站 ir.wrap.com 上註冊，以繼續接收警報和股票資訊。

As a reminder to listeners that certain statements made during the call today constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. These risks and uncertainties are described in our earnings release and more fully in our filings with the SEC.

提醒聽眾，今天電話會議中所做的某些陳述構成根據經修訂的 1995 年《私人證券訴訟法》安全港條款所做的前瞻性陳述。此類前瞻性陳述受到已知和未知的風險和不確定性的影響，可能導致實際結果與此類陳述有重大差異。這些風險和不確定性在我們的收益報告中進行了描述，並在我們向 SEC 提交的文件中進行了更全面的描述。

The forward-looking statements today are made as of the date of this call, and we do not undertake any obligation to update the forward-looking statement.

今天的前瞻性陳述是在本次電話會議之日做出的，我們不承擔更新前瞻性陳述的任何義務。

Now, I'd like to turn the call over to our CEO, Kevin Mullins.

現在，我想將電話轉給我們的執行長凱文馬林斯 (Kevin Mullins)。

Good day, everyone, and welcome to our second-quarter 2023 earnings call. I appreciate your time and interest in our company, and I'm pleased to present our second quarter results as well as some key strategic developments that are paving the way for an exciting and rewarding future for Wrap Technologies.

大家好，歡迎參加我們的 2023 年第二季財報電話會議。感謝您對我們公司的關注和關注，我很高興向您介紹我們第二季的業績以及一些關鍵的策略發展，這些發展為 Wrap Technologies 令人興奮且回報豐厚的未來鋪平了道路。

First, I am thrilled to share a momentous milestone in our journey of continuous innovation and growth, the acquisition of Intrensic, LLC, a leading player in cloud-based evidence management and body-worn camera technology. This transformative endeavor, backed by investment of $500,000 in cash and $1.25 million shares of Wrap common stock, marks a pivotal addition to our solutions portfolio.

首先，我很高興與大家分享我們持續創新和發展歷程中的一個重要里程碑，即收購 Intrensic, LLC，這是基於雲端的證據管理和執法記錄器技術領域的領導者。這項變革性的努力得到了 50 萬美元現金和 125 萬美元 Wrap 普通股投資的支持，標誌著我們解決方案組合的重要補充。

By seamlessly integrating Intrensic into our fold, we solidify our position as a dynamic and comprehensive provider of public safety solutions worldwide. This transformative and strategic move unlocks a horizon of boundless growth opportunities and reinforces our unwavering commitment to driving safer outcomes and empowering law enforcement and communities as we move forward together.

透過將 Intrensic 無縫整合到我們的業務中，我們鞏固了作為全球公共安全解決方案的動態綜合提供者的地位。這項變革性的策略性舉措開啟了無限成長機會的視野，並強化了我們堅定不移的承諾，即在我們共同前進的過程中，推動更安全的結果，並為執法部門和社區提供支持。

Through this landmark acquisition, we not only elevate our service to existing customers, but also expand to a broader clientele seeking cutting-edge, all-encompassing solutions. Intrensic brings to the table a state-of-the-art, cloud-based digital evidence management system and body-worn cameras, which perfectly aligns with our strategic vision to fortify and diversify our offerings in the law enforcement and security market.

透過這項具有里程碑意義的收購，我們不僅提升了對現有客戶的服務，而且還擴展到尋求尖端、全方位解決方案的更廣泛客戶。 Intrensic 帶來了最先進的、基於雲端的數位證據管理系統和隨身攝影機，這與我們在執法和安全市場上加強和多樣化產品的戰略願景完全一致。

With this acquisition, Wrap reaffirms its commitment to empowering law enforcement worldwide with a comprehensive suite of solutions as the demands of modern policing continue to evolve. A relentless drive to be a prominent authority in this domain will be bolstered by integrating Intrensic's capabilities with our own, paving the way for a more cohesive, integrated, and sophisticated technology ecosystem.

透過此次收購，Wrap 重申其致力於隨著現代警務需求的不斷發展，為全球執法部門提供一整套解決方案。透過將 Intrensic 的能力與我們自己的能力相結合，我們將不懈努力成為該領域的傑出權威，從而為更具凝聚力、整合度和複雜性的技術生態系統鋪平道路。

By welcoming Intrensic into our family, Wrap takes a significant step towards becoming the preferred one-stop shop for law enforcement and security in their technology needs. Our expanding portfolio will encompass fully integrated, end-to-end, advanced technology options, making us the indispensable ally for public safety agencies striving to stay ahead in an increasingly complex world.

透過歡迎 Intrensic 加入我們的大家庭，Wrap 朝著成為滿足其技術需求的執法和安全首選一站式商店邁出了重要一步。我們不斷擴大的產品組合將涵蓋完全整合、端到端的先進技術選項，使我們成為公共安全機構在日益複雜的世界中努力保持領先地位的不可或缺的盟友。

As we move forward, our united strengths will propel Wrap's ability to drive impactful change for our global customer base and new partners seeking comprehensive advanced technology solutions.

隨著我們的前進，我們的聯合優勢將推動 Wrap 為我們的全球客戶群和尋求全面先進技術解決方案的新合作夥伴推動有影響力的變革。

Going forward, Wrap will offer three complementary, but distinct solutions in our portfolio. Body-worn cameras and Evidence on Cloud, Wrap Reality, our virtual reality training platform, and our exclusive patented BolaWrap remote restraint device. We look forward to continuing to apply our no-harm approach to public safety, driving safer outcomes, and empowering law enforcement and communities around the world to move together.

展望未來，Wrap 將在我們的產品組合中提供三種互補但獨特的解決方案。穿戴式攝影機和雲端證據、Wrap Reality、我們的虛擬實境訓練平台以及我們獨家專利的 BolaWrap 遠端約束設備。我們期待繼續將我們的無傷害方法應用於公共安全，推動更安全的結果，並授權世界各地的執法部門和社區共同行動。

Now turning to our results. Our second quarter 2023 has been a period of restructuring, setting the stage for our future success. Even as our overall results align with last year's due to the timing of large international orders in 2023, we are delighted to announce record sales of our virtual reality training platform, Wrap Reality, which is witnessing a significant surge in customer demand.

現在轉向我們的結果。 2023 年第二季是我們的重組時期，為我們未來的成功奠定了基礎。儘管由於2023 年大型國際訂單的時間表，我們的整體業績與去年持平，但我們很高興地宣布，我們的虛擬實境培訓平台Wrap Reality 的銷售額創下了紀錄，該平台見證了客戶需求的大幅增長。

As we progress into the second half of the year, we're optimistic and thrilled about our growth trajectory. We recently expanded our sales team to cater to the increasing demand for our solutions in both the domestic and international markets. We see immense potential in the international market and are focusing our efforts to tap into these opportunities. I would like -- also like to extend a warm welcome to our new Board Members whose expertise and insights will significantly contribute to our growth.

隨著下半年的進展，我們對我們的成長軌跡感到樂觀和興奮。我們最近擴大了銷售團隊，以滿足國內和國際市場對我們的解決方案不斷增長的需求。我們看到國際市場的巨大潛力，並正在集中精力抓住這些機會。我還要熱烈歡迎我們的新董事會成員，他們的專業知識和見解將為我們的發展做出重大貢獻。

Our cornerstone solution, BolaWrap, continues to resonate with a growing number of law enforcement agencies worldwide. We see a robust growth in BolaWrap sales for both existing and new departments, and we are in advanced talks for large international orders which underline its global appeal.

我們的基礎解決方案 BolaWrap 繼續引起全球越來越多執法機構的共鳴。我們看到 BolaWrap 現有部門和新部門的銷售額都強勁增長，並且我們正在就大型國際訂單進行深入談判，這突顯了其全球吸引力。

As I mentioned earlier, our Wrap Reality platform has already outperformed last year's sales in just six months. We anticipate a rapidly increase in the number of unique scenarios to enhance officer decision-making skills in high-stress situations. And now we are folding in the Intrensic platform and expect to leverage our global sales force to rapidly expand Intrensic's body camera and Evidence on Cloud solutions worldwide.

正如我之前提到的，我們的 Wrap Reality 平台在短短六個月內就已經超過了去年的銷售額。我們預計獨特場景的數量將迅速增加，以提高官員在高壓力情況下的決策技能。現在，我們正在整合 Intrensic 平台，並期望利用我們的全球銷售團隊在全球快速擴展 Intrensic 的執法記錄器和 Evidence on Cloud 解決方案。

We've taken major strides this year in setting new performance benchmarks and cost disciplines. We remain committed to fortifying our current operations and investing in the future, with a clear vision and relentless drive, we are poised to unlock the full potential of Wrap.

今年，我們在設定新的績效基準和成本紀律方面取得了重大進展。我們仍然致力於加強當前的業務並投資未來，憑藉清晰的願景和不懈的努力，我們準備釋放 Wrap 的全部潛力。

As I mentioned on the last call, we have started to reap the rewards of our long-term investments to marketing, training, and research and development. Wrap has established a robust brand, increased market share of its innovative solutions, and forged relationships with numerous law enforcement agencies worldwide. We are hastening the pace at which we close new sales from our expanding pipeline and increasing adoption rates across our existing customer base.

正如我在上次電話會議中提到的，我們對行銷、培訓和研發的長期投資已經開始獲得回報。 Wrap 建立了強大的品牌，提高了其創新解決方案的市場份額，並與全球眾多執法機構建立了關係。我們正在加快從不斷擴大的管道中完成新銷售的步伐，並提高現有客戶群的採用率。

Having established a well-defined and targeted strategy that aligned with our priorities, we adopted a multifaceted approach that entails enhancing collaboration between our inside and outside sales teams, optimizing our sales territories, and streamlining our operating model to improve efficiency and scalability.

在製定了與我們的優先事項一致的明確且有針對性的策略後，我們採取了多方面的方法，包括加強內部和外部銷售團隊之間的協作，優化我們的銷售區域，並簡化我們的營運模式，以提高效率和可擴展性。

By implementing this leaner operating model, we will be able to quickly expand our operation when large orders materialize later in the year. With these measures in place, we are confident that we can stimulate growth and attain our 2023 targets.

透過實施這種更精簡的營運模式，當今年稍後出現大訂單時，我們將能夠快速擴大我們的業務。有了這些措施，我們有信心能夠刺激成長並實現 2023 年的目標。

As previously mentioned, I've outlined three main priorities as we head into the rest of the year. They are to: one, accelerate the rate at which we close deals; two, expand deployment with existing customers; and three, reduce our non-essential operating expenses. I'm happy to say that we are well underway with this program, and we are already seeing the fruits of our labor.

如前所述，我概述了今年剩餘時間的三個主要優先事項。他們的目標是：第一，加快完成交易的速度；二、擴大現有客戶的部署；第三，減少非必要的營運費用。我很高興地說，這個計劃進展順利，我們已經看到了我們的勞動成果。

Now, I'd like to hand the call over to Chris to discuss our financial results for the quarter. Chris.

現在，我想將電話轉交給克里斯，討論我們本季的財務表現。克里斯。

Good afternoon, everyone, and thank you Kevin for providing a comprehensive overview of our business and strategic developments. I'm now going to present our second-quarter financial results and give you an insight into our outlook for the second half of 2023 and beyond.

大家下午好，感謝凱文對我們的業務和策略發展進行了全面的概述。我現在將介紹我們第二季的財務業績，並讓您深入了解我們對 2023 年下半年及以後的展望。

Despite the timing of certain large international orders, which we now expect to close in the second half of 2023, we were still able to achieve revenues of $1.2 million this quarter, a figure consistent with the same period in the prior year, driven by continued strong domestic sales.

儘管某些大型國際訂單的時間表（我們現在預計將在2023 年下半年完成），但在持續的推動下，本季度我們仍然能夠實現120 萬美元的收入，這一數字與上一年同期一致。國內銷售強勁。

This revenue stability is a testament to our robust business model and solutions appeal, even as we're in the process of executing major strategic changes. In the Americas, our revenues saw a 7% increase from the prior year period, moving up to $1.2 million from $1.1 million.

這種收入穩定性證明了我們強大的業務模式和解決方案的吸引力，即使我們正在執行重大策略變革。在美洲，我們的營收較上年同期成長 7%，從 110 萬美元增至 120 萬美元。

Our international revenues held steady year on year, a reflection of the strong foundation we have built in these markets. Our gross profit for the second quarter increased by 46% from the prior year period, going from $457,000 to $667,000.

我們的國際收入年增穩定，這反映了我們在這些市場上建立的堅實基礎。我們第二季的毛利比去年同期成長了 46%，從 457,000 美元增加到 667,000 美元。

Our efforts to increase production efficiency and manage our costs for our BolaWrap 150 have paid off, and this is clearly reflected in our healthy gross margin of 56%. Operating expenses did increase by 10% from the same period a year ago, mainly due to one-time costs related to the organizational changes we made in April. However, if we exclude these one-time items, our operational expenses for Q2 2023 would have decreased by 17%, reflecting our ongoing commitment to maintain operational efficiency and financial discipline.

我們為提高 BolaWrap 150 的生產效率和管理成本所做的努力已獲得回報，這清楚地反映在我們 56% 的健康毛利率上。營運費用確實比去年同期增加了 10%，主要是由於我們 4 月進行的組織變革相關的一次性成本。然而，如果我們排除這些一次性項目，我們 2023 年第二季的營運費用將減少 17%，這反映了我們對維持營運效率和財務紀律的持續承諾。

Unfortunately, our net loss for Q2 2023 did increase slightly due to these one-time costs. Excluding the one-time items, our net loss would have been $3.7 million, which is a significant 23% improvement on the prior year period.

不幸的是，由於這些一次性成本，我們 2023 年第二季的淨虧損確實略有增加。不包括一次性項目，我們的淨虧損將為 370 萬美元，比去年同期顯著改善 23%。

Looking at our balance sheet, it remains healthy and robust. As of June 30, 2023, we had cash, cash equivalents, and short-term investments totaling $18.2 million, compared to $19.3 million at the end of 2022. This includes part of the initial proceeds from the $10 million preferred stock and warrant offering, which we're still in the process of closing at the end of June.

看看我們的資產負債表，它仍然健康穩健。截至 2023 年 6 月 30 日，我們的現金、現金等價物和短期投資總額為 1,820 萬美元，而 2022 年底為 1,930 萬美元。這包括 1,000 萬美元優先股和認股權證發行的部分初始收益，我們仍在六月底關閉該項目。

On the note of key performance indicators, I'm pleased to share that the total number of trained law enforcement agencies have grown by 18%, and certified officer instructors have increased by 16% from the prior year period. These are promising indicators of our ability to continue to expand our footprint and influence -- and our influence in the public safety market.

關於關鍵績效指標，我很高興地告訴大家，受過訓練的執法機構總數比去年同期增加了 18%，認證警官教官人數增加了 16%。這些都是有希望的指標，顯示我們有能力繼續擴大我們的足跡和影響力，以及我們在公共安全市場的影響力。

In conclusion, our financial health and continued operational improvements, combined with our strategic acquisition we just announced and market expansion, give us confidence and a stronger performance for the second half of 2023. We believe that these strategic initiatives, along with our robust balance sheet, position us well for future success and long-term shareholder value creation.

總而言之，我們的財務狀況和持續的營運改進，加上我們剛剛宣布的策略性收購和市場擴張，給我們帶來了信心，並在2023 年下半年實現了更強勁的業績。我們相信，這些策略舉措以及我們穩健的資產負債表，為我們未來的成功和長期股東價值創造做好準備。

In summary, our Q2 2023 performance, despite appearing flat year on year, demonstrated resilience and ongoing operational improvements amidst strategic organizational changes. We've increased our gross profit by 46%, while continuing to manage costs effectively, resulting in an impressive 56% gross profit margin.

總而言之，儘管我們 2023 年第二季的業績與去年同期持平，但在策略組織變革中展現了韌性和持續的營運改善。我們的毛利增加了 46%，同時繼續有效管理成本，毛利率達到令人印象深刻的 56%。

Even as one-time expenses impacted our operational expenses and net loss, our performance improved significantly when adjusted for these costs. With an increased number of trained law enforcement agencies and certified officer instructors, our market influence is on the rise.

儘管一次性費用影響了我們的營運費用和淨虧損，但在根據這些成本進行調整後，我們的業績顯著提高。隨著訓練有素的執法機構和經過認證的警官教官數量的增加，我們的市場影響力不斷上升。

Our robust balance sheet, including our strong cash position, is complemented by a promising revenue potential for the pending international orders, setting us up well for a positive second half of 2023. All of these elements reinforce our confidence in Wrap Technologies' future success, and creation of long-term shareholder value.

我們穩健的資產負債表，包括強大的現金狀況，加上未決國際訂單的有希望的收入潛力，為我們在2023 年下半年取得積極的業績奠定了良好的基礎。所有這些因素都增強了我們對Wrap Technologies 未來成功的信心，並創造長期股東價值。

With that, I'd like to turn the call back over to Kevin to discuss our outlook for Wrap.

說到這裡，我想把電話轉回給 Kevin，討論我們對 Wrap 的前景。

Thanks, Chris. As we look to the future, I'm thrilled and inspired by the myriad of exciting opportunities ahead. Wrap Technologies is at a very transformative juncture in our journey, poised to soar to new heights, and chart a path of unparalleled growth and success.

謝謝，克里斯。當我們展望未來時，我對未來無數令人興奮的機會感到興奮和鼓舞。 Wrap Technologies 正處於我們旅程中的一個非常變革的時刻，準備飆升到新的高度，並規劃出一條無與倫比的成長和成功之路。

Our flagship solution, BolaWrap, is well positioned to gain further global traction. With Wrap Reality, we are revolutionizing the training experience of law enforcement agencies, bringing them to a new paradigm in immersive and perpetual learning.

我們的旗艦解決方案 BolaWrap 處於有利地位，將進一步獲得全球關注。借助 Wrap Reality，我們正在徹底改變執法機構的培訓體驗，將他們帶入沉浸式和永久學習的新範式。

The addition of Intrensic, with its body-worn cameras and cloud-based digital evidence services, integrated with Evidence on Cloud to streamline and transform how evidence is managed, perfectly complements our portfolio. With these combined capabilities in our comprehensive and integrated suite of offerings, combined with our expanded team and robust balance sheet, we are prepared to seize the significant market opportunities that are before us.

Intrensic 的加入，以其隨身攝影機和基於雲端的數位證據服務，與 Evidence on Cloud 集成，以簡化和轉變證據的管理方式，完美補充了我們的產品組合。憑藉我們全面、整合的產品套件中的這些綜合能力，再加上我們擴大的團隊和穩健的資產負債表，我們已準備好抓住擺在我們面前的重大市場機會。

I'm extremely bullish about our growth and prospects as we aim to be the preeminent technology partner for public safety agencies worldwide, providing them with innovative, effective solutions that drive safer outcomes for safer communities.

我非常看好我們的發展和前景，因為我們的目標是成為全球公共安全機構的卓越技術合作夥伴，為他們提供創新、有效的解決方案，為更安全的社區帶來更安全的成果。

In conclusion, our performance for the first half of the year, coupled with the positive outlook for the second half, has given us confidence in a bright future for Wrap Technologies. Our fortified product line and our dedicated team position us well for success.

總而言之，我們上半年的業績，加上下半年的正面前景，讓我們對 Wrap Technologies 的光明未來充滿信心。我們強化的產品線和敬業的團隊為我們的成功奠定了良好的基礎。

Thank you for your continued belief and vision. We are excited to continue this journey and look forward to driving further growth, delivering strong performance, and creating shareholder value in the coming quarters. The future for Wrap Technologies is indeed promising.

感謝您一直以來的信念與遠見。我們很高興能夠繼續這趟旅程，並期待在未來幾季推動進一步成長、實現強勁業績並創造股東價值。 Wrap Technologies 的未來確實充滿希望。

I now turn the call back over to Nima to facilitate the Q&A and pre-selected questions we received from investors.

我現在將電話轉回尼瑪，以方便我們從投資者那裡收到的問答和預先選定的問題。

Thank you, Kevin. The following questions were submitted from shareholders and interested parties. Kevin, how does the second half of 2023 look compared to the first half of 2023?

謝謝你，凱文。股東和利害關係人提出了以下問題。 Kevin，2023 年下半年與 2023 年上半年相比如何？

Thank you, Nima. The outlook for the second half of 2023 is shaping up to be quite promising, when compared to the first half. Firstly, as we mentioned earlier, the unpredictable nature of international borders means that while the first half may have been subdued, we are seeing a robust pipeline for the second half. Advanced discussions with potential international clients, coupled with a clearer regulatory landscape in some regions, provide us with a positive outlook for the second half of 2023.

謝謝尼瑪。與上半年相比，2023 年下半年的前景相當樂觀。首先，正如我們之前提到的，國際邊界的不可預測性意味著，雖然上半年可能受到抑制，但我們看到下半年的管道強勁。與潛在國際客戶的深入討論，加上一些地區更清晰的監管環境，為我們帶來了 2023 年下半年的積極前景。

On the operational front, efficiencies gained from our continuous improvement initiatives in the first half of 2023, are expected to yield positive results in terms of operational costs and the speed of delivery in the second half of 2023. We also anticipate higher margins, which are due to a more favorable product mix and strategic initiatives.

在營運方面，我們透過 2023 年上半年的持續改善措施提高了效率，預計將在 2023 年下半年的營運成本和交付速度方面產生積極成果。我們也預期利潤率會更高，由於更有利的產品組合和策略舉措。

It's also worth noting that historically, certain markets we serve see a very seasonal uptick in demand in the latter part of the year, and we expect this to hold true in 2023 as well, and this adds to our optimism.

另外值得注意的是，從歷史上看，我們服務的某些市場在今年下半年的需求會出現非常季節性的上升，我們預計 2023 年也會如此，這增加了我們的樂觀情緒。

I'll just say in summary, while the first half of 2023 presented its own set of challenges, it also provided us with many opportunities to find what our strategies were, enhance our offerings, prepare for really a stronger half of 2023. So we're very enthusiastic about the months ahead and we are committed to delivering value to our shareholders and all of our partners.

我只想總結一下，雖然2023 年上半年提出了一系列挑戰，但它也為我們提供了很多機會來找到我們的策略，增強我們的產品，為2023 年真正更強大的一半做好準備。所以我們我們對未來幾個月充滿熱情，我們致力於為我們的股東和所有合作夥伴創造價值。

Thank you, Kevin. This next question I'm going to direct to Chris. Why Intrensic and why now?

謝謝你，凱文。下一個問題我將直接問克里斯。為什麼選擇 Intrensic？為什麼是現在？

Thanks, Nima. There's several different reasons for why Intrensic, why now, and why does it make sense. One of our decisions to acquire Intrensic is rooted in the alignment of our respective core competencies. Wrap has always been on the forefront of innovation and safety and security.

謝謝尼瑪。為什麼選擇 Intrensic、為什麼選擇現在以及為什麼它有意義有幾個不同的原因。我們收購 Intrensic 的決定之一是基於我們各自核心能力的一致性。 Wrap 總是走在創新和安全保障的前端。

Intrensic brings to the table some more advanced digital evidence management solutions, which when combined with our other products, offers a more comprehensive and integrated solution to our clients. Also, with Intrensic under the Wrap umbrella, we anticipate not only expanding our customer base, but also deepening our relationships with existing clients by offering enhanced value through the combined bundled solutions.

Intrensic 帶來了一些更先進的數位證據管理解決方案，這些解決方案與我們的其他產品相結合，為我們的客戶提供了更全面和整合的解決方案。此外，透過 Wrap 旗下的 Intrensic，我們預計不僅可以擴大我們的客戶群，還可以透過組合的捆綁解決方案提供更高的價值來加深我們與現有客戶的關係。

This is a move that helps position us for new revenue streams and fortifies kind of our longstanding relationships in current markets. So to kind of just to sum it up, with the question, why Intrensic, why now? It's strategic. It's a strategic move that holistically serves our market, harnesses current opportunities, and kind of sets the stage for the future of Wrap Technologies to remain as an industry leader in an increasingly digital world. We're excited about this acquisition, and we are confident that we'll drive significant value for our stakeholders.

此舉有助於我們獲得新的收入來源，並加強我們在當前市場的長期關係。總結一下，問題是，為什麼是 Intrensic，為什麼是現在？這是戰略性的。這是一項策略性舉措，旨在全面服務我們的市場，利用當前的機遇，並為 Wrap Technologies 的未來在日益數位化的世界中保持行業領導者地位奠定基礎。我們對此次收購感到興奮，並相信我們將為利害關係人帶來巨大的價值。

Thanks, Chris. And then finally, how does Intrensic help 2023?

謝謝，克里斯。最後，Intrensic 如何幫助 2023 年？

Certainly the integration of Intrensic into our portfolio has some very specific implications for performance. We listened to the agencies that we work with. We listened to our shareholders. We listened to our partners saying, the value, like what's the accretive value. And when you look at what Intrensic brings, and not just a product suite, but also a wealth of expertise, knowledge, these relationships, offerings will immediately enhance our overall value proposition. It's a day one plugin. It allows us to be able to tap into additional revenue streams, marginal improvements. It's expected to add a significant contribution to our accretive earnings, reinforcing our financial health and setting us on a path of increased profitability in 2023.

當然，將 Intrensic 整合到我們的產品組合中會對性能產生一些非常具體的影響。我們聽取了與我們合作的機構的意見。我們聽取了股東的意見。我們聽我們的合作夥伴說，價值，例如增值價值是什麼。當你看到 Intrensic 帶來的不僅僅是產品套件，還有豐富的專業知識、知識、這些關係、產品將立即增強我們的整體價值主張。這是第一天的插件。它使我們能夠利用額外的收入來源和邊際改進。預計這將為我們的獲利成長做出重大貢獻，增強我們的財務健康狀況，並使我們在 2023 年走上獲利能力提高的道路。

Intrensic also gives us multiple expansion opportunities. There are established relationships there. There is market presence, open doors to new markets and new customer segments. It furthermore complements the nature of our products. It means we can offer bundled and integrated solutions, creating opportunities for upselling and cross-selling, reoccurring revenue models built into this. This positions Wrap Technologies favorably to be able to broaden their footprint, both geographically and across different sectors within the industry.

Intrensic 也為我們提供了多種擴展機會。那裡已經建立了關係。有市場存在，為新市場和新客戶群敞開大門。它也補充了我們產品的性質。這意味著我們可以提供捆綁和整合的解決方案，為追加銷售和交叉銷售創造機會，並在此基礎上建立重複的收入模式。這使得 Wrap Technologies 能夠在地理和行業內的不同部門擴大其足跡。

There's also a technology synergy. It's a very fast evolving tech landscape, especially in public safety. Staying ahead not only requires innovation, but also integration. And that's something that is unique, but Intrensic too is being able to integrate into other solutions in the market, such as CAD and RMS.

還有技術協同作用。這是一個快速發展的技術領域，尤其是在公共安全領域。保持領先不僅需要創新，更需要整合。這是獨一無二的，但 Intrensic 也能夠整合到市場上的其他解決方案中，例如 CAD 和 RMS。

When you look at -- comparing this whole suite of products into what our solutions are now, it really enhances our user experience. It drives operational efficiencies, and it allows us to -- really to cater to the more sophisticated needs of our customer base. This alignment is really pivotal for our growth and strategy in 2023 and then in beyond.

當您將整套產品與我們現在的解決方案進行比較時，您會發現它確實增強了我們的使用者體驗。它提高了營運效率，並且使我們能夠真正滿足客戶群更複雜的需求。這種協調對於我們 2023 年及以後的成長和策略至關重要。

So I'll just say finally, Intrensic doesn't just add to our 2023 portfolio, it amplifies it. By integrating those capabilities, we're better equipped to navigate what is a very evolving public safety landscape, both domestically and internationally. We can capitalize on these emerging opportunities. We can deliver enhanced value to our stakeholders. The acquisition, in essence, is a testament to our commitment to growth, to innovation, and excellence at Wrap.

最後我要說的是，Intrensic 不僅增加了我們 2023 年的產品組合，而且還增強了我們的產品組合。透過整合這些能力，我們能夠更好地應對不斷變化的國內和國際公共安全狀況。我們可以利用這些新興機會。我們可以為利害關係人提供更高的價值。從本質上講，此次收購證明了我們對 Wrap 成長、創新和卓越的承諾。

Thank you both, Kevin and Chris. That concludes our Q&A portion of the call. Thank you for joining us today for Wrap Technologies' second-quarter 2023 earnings conference call. If you have any questions, please reach out to us via our website at ir.wrap.com. You may now disconnect.

謝謝你們，凱文和克里斯。我們的電話問答部分到此結束。感謝您今天參加 Wrap Technologies 的 2023 年第二季財報電話會議。如果您有任何疑問，請透過我們的網站 ir.wrap.com 與我們聯繫。您現在可以斷開連線。