XTI Aerospace Inc (XTIA) 2022 Q4 法說會逐字稿

Good afternoon, and welcome to Inpixon's Business Update Call. (Operator Instructions). Participants of this call are advised that the audio of this conference is being broadcast live over the Internet and is also being recorded for playback purposes. A telephone replay of the call will be available approximately 1 hour after the end of the call through April 6, 2023. I would now like to turn the call over to Alexandra Schilt, Vice President of Crescendo Communications, LLC, the company's Investor Relations firm. Please go ahead.

下午好，歡迎來到 Inpixon 的業務更新電話會議。 （操作員說明）。本次電話會議的與會者請注意，本次會議的音頻將通過 Internet 進行現場直播，並且還會被錄製下來以供回放。通話結束後約 1 小時將提供電話重播，直至 2023 年 4 月 6 日。我現在想將電話轉給公司投資者關係公司 Crescendo Communications, LLC 的副總裁 Alexandra Schilt .請繼續。

Good afternoon, and thank you for joining today's conference call to discuss Inpixon's corporate developments and financial results for its 2022 fiscal year ended December 31, 2022. With us today are Nadir Ali, the company's Chief Executive Officer; and Wendy Loundermon, the company's Chief Financial Officer.

下午好，感謝您參加今天的電話會議，討論 Inpixon 截至 2022 年 12 月 31 日的 2022 財年的企業發展和財務業績。今天與我們在一起的是公司首席執行官 Nadir Ali；和公司首席財務官 Wendy Loundermon。

Today, Inpixon released financial results for 2022 fiscal year ended December 31, 2022. If you have not received Inpixon's earnings release, please visit the company's Investor Relations page at ir.inpixon.com.

今天，Inpixon 發布了截至 2022 年 12 月 31 日的 2022 財年財務業績。如果您還沒有收到 Inpixon 的收益發布，請訪問公司的投資者關係頁面 ir.inpixon.com。

During the course of this conference call, the company will be making forward-looking statements. The company cautions you that any statement that is not a statement of historical fact is a forward-looking statement. This includes any projection of earnings, revenues or cash or other statements relating to the company's future financial results, any statements about plans, strategies or objectives of management for future operations, any statements regarding completed or planned acquisitions or strategic partnerships and the anticipated impact of those transactions on the company's business, any statements concerning proposed new products or solutions, any statements regarding anticipated new customers, relationships or agreements, any statements regarding expectations for the success of the company's products in the U.S. and international markets, any statements regarding future economic conditions or performance, including, but not limited to, the impact of COVID-19 on the company's operations, any statements regarding the valuation attributed to any of our securities instruments, any statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations and assumptions as of the date of this conference call and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

在本次電話會議期間，公司將作出前瞻性陳述。公司提醒您，任何不是歷史事實陳述的陳述都是前瞻性陳述。這包括任何收益、收入或現金預測或與公司未來財務業績相關的其他報表，任何關於未來運營計劃、戰略或管理目標的報表，任何關於已完成或計劃中的收購或戰略合作夥伴關係的報表以及預期影響關於公司業務的那些交易，關於擬議的新產品或解決方案的任何聲明，關於預期的新客戶、關係或協議的任何聲明，關於公司產品在美國和國際市場取得成功的任何聲明，關於未來經濟的任何聲明條件或業績，包括但不限於 COVID-19 對公司運營的影響、關於我們任何證券工具的估值的任何聲明、任何信念聲明和任何上述任何假設的聲明。這些陳述基於截至本次電話會議之日的預期和假設，並受眾多風險和不確定性的影響，這些風險和不確定性可能導致實際結果與前瞻性陳述中描述的結果存在重大差異。

Some of these risks are described in the safe harbor section of today's press release and in the public periodic reports the company filed with the Securities and Exchange Commission. We also encourage you to read the public filings made with the SEC related to the recent spin-off of our enterprise apps business to KINS Technology Group, including the registration statement on Form S-4 and registration statement on Form S-1, and in particular to the section or sections titled Risk Factors for a discussion of the risks related to the transaction, the company's enterprise app business and the outlook of the combined company. Investors or potential investors should read all of these risks.

其中一些風險在今天新聞稿的安全港部分和公司向美國證券交易委員會提交的公開定期報告中有所描述。我們還鼓勵您閱讀向美國證券交易委員會提交的與最近將我們的企業應用程序業務分拆給 KINS Technology Group 相關的公開文件，包括表格 S-4 上的註冊聲明和表格 S-1 上的註冊聲明，以及特別是標題為“風險因素”的章節，討論了與交易相關的風險、公司的企業應用程序業務和合併後公司的前景。投資者或潛在投資者應閱讀所有這些風險。

Inpixon assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so. In addition to supplement the GAAP numbers, the company has provided non-GAAP adjusted net loss and net loss per share information in addition to non-GAAP adjusted EBITDA information. The company believes that these non-GAAP numbers provide meaningful supplemental information and are helpful in assessing our historical and future performance. A table reconciling the GAAP information to the non-GAAP information is included in the company's financial release.

Inpixon 不承擔更新這些前瞻性陳述以反映未來事件或實際結果的義務，也不打算這樣做。除了補充 GAAP 數據外，公司還提供了非 GAAP 調整後的淨虧損和每股淨虧損信息以及非 GAAP 調整後的 EBITDA 信息。公司認為，這些非 GAAP 數據提供了有意義的補充信息，有助於評估我們的歷史和未來業績。公司的財務報告中包含一張將 GAAP 信息與非 GAAP 信息進行核對的表格。

I will now turn the call over to Nadir Ali, Inpixon's CEO. Please go ahead.

我現在將把電話轉給 Inpixon 的首席執行官 Nadir Ali。請繼續。

Thanks, Ale, and good afternoon, everyone, and thank you for joining our call today as we discuss our 2022 fiscal year accomplishments and financial results. To begin, I'd like to highlight a significant progress we made throughout 2022. Despite macroeconomic headwinds globally, we executed on our growth strategy, which resulted in a 21% increase in year-over-year revenue. Additionally, we maintained a solid balance sheet with over $20 million in cash and cash equivalents, allowing us to pursue growth opportunities to maximize value for our shareholders.

謝謝，Ale，大家下午好，感謝您今天加入我們的電話會議，討論我們 2022 財年的成就和財務業績。首先，我想強調一下我們在整個 2022 年取得的重大進展。儘管全球宏觀經濟逆風，但我們執行了我們的增長戰略，導致收入同比增長 21%。此外，我們保持著穩健的資產負債表，擁有超過 2000 萬美元的現金和現金等價物，使我們能夠尋求增長機會，為股東創造最大價值。

Towards this end, we recently announced completing the business combination of CXApp Holding Corp. with KINS Technology Group. With this transaction, we successfully sold our CXApp workplace experience business line, which includes (inaudible) technologies, indoor mapping, events platform and related business solutions. We worked very hard on this strategic transaction for many months with the goal of unlocking additional value for our shareholders, which we do not believe was being fairly reflected in our market cap. As a result of this transaction, which closed on March 14, our shareholders received the benefit of potential upside in 2 rather than 1 publicly traded companies.

為此，我們最近宣布完成 CXApp Holding Corp. 與 KINS Technology Group 的業務合併。通過此次交易，我們成功出售了我們的 CXApp 工作場所體驗業務線，其中包括（聽不清）技術、室內地圖、活動平台和相關業務解決方案。我們為這項戰略交易努力了好幾個月，目的是為我們的股東釋放額外價值，我們認為這沒有公平地反映在我們的市值中。由於這項於 3 月 14 日結束的交易，我們的股東從 2 家而非 1 家上市公司中獲得了潛在的上漲收益。

Inpixon shareholders as of the March 6 record date received over 7 million shares of CXApp common stock, representing just over 50% of the outstanding shares of CXApp common stock. Shareholders were able to maintain the same number of Inpixon shares that they held before the transaction, plus they received net new CXApp shares. There are now 2 separate businesses, each with its own distinct customers and product lines. We see this as a major accomplishment for both Inpixon and CXApp. We believe each company can better leverage the unique opportunities of each specific market with dedicated resources and management teams while also continuing to work together as partners and/or resellers to offer comprehensive solution sets for our respective customers.

截至 3 月 6 日記錄日，Inpixon 股東收到了超過 700 萬股 CXApp 普通股，佔 CXApp 普通股已發行股份的 50% 以上。股東能夠維持與交易前相同數量的 Inpixon 股票，此外他們還獲得了新的 CXApp 股票淨額。現在有 2 個獨立的業務，每個業務都有自己不同的客戶和產品線。我們認為這是 Inpixon 和 CXApp 的一項重大成就。我們相信，每家公司都可以通過專門的資源和管理團隊更好地利用每個特定市場的獨特機會，同時繼續作為合作夥伴和/或經銷商共同努力，為我們各自的客戶提供全面的解決方案。

In addition to completing this transaction, we also implemented additional initiatives over the last few months to reduce operating expenses and overhead for both businesses after the closing of the transaction. For Inpixon, we expect to see a reduction in our annual operating expenses from the initiatives we implemented in Q4 and reduction in operating expenses resulting from the sale of the CXApp business. We believe these combined efforts could decrease our operating expenses and potentially are burned by approximately 50% over the coming quarters.

除了完成這項交易外，我們還在過去幾個月實施了額外的舉措，以減少交易完成後兩家公司的運營費用和管理費用。對於 Inpixon，我們預計我們在第四季度實施的舉措將減少我們的年度運營費用，並且由於出售 CXApp 業務而減少運營費用。我們相信，這些共同努力可以減少我們的運營費用，並有可能在未來幾個季度減少約 50%。

We also remain committed to pursuing beneficial strategic opportunities that we believe will increase the company's total enterprise value for the benefit of our shareholders. In that regard, we previously announced that we have entered into a nonbinding letter of intent with a third party. If this transaction advances to fruition, we expect the resulting combined enterprise value to exceed the value of the KINS transaction. Again, we believe the market cap is not capturing the true enterprise value of the Inpixon business that remains, therefore, we are hopeful that this transaction or any transaction that we ultimately pursue will help capture that value for our shareholders. As a result, we remain aggressively engaged in the due diligence review and negotiation process and look forward to announcing further developments in the near term.

我們還繼續致力於尋求有利的戰略機會，我們認為這些機會會增加公司的總體企業價值，從而造福於我們的股東。在這方面，我們之前宣布我們已經與第三方簽訂了一份不具約束力的意向書。如果此交易取得成果，我們預計由此產生的合併企業價值將超過 KINS 交易的價值。同樣，我們認為市值並未體現 Inpixon 業務的真實企業價值，因此，我們希望此次交易或我們最終進行的任何交易將有助於為我們的股東獲取該價值。因此，我們繼續積極參與盡職調查審查和談判過程，並期待在近期宣布進一步的發展。

Concurrently, we are continuing to focus on accelerating the growth of our RTLS product line. Real-time location systems are changing the way industries operate. In today's data-driven world, businesses that leverage these technologies can gain a competitive edge by optimizing their operations and capitalizing on the benefits of smart factories, smart warehouses, automated mining operations and digital supply chains. We can help organizations create a connected, visible and automated industrial workflow with our platform by integrating location-aware sensors, digital twins and advanced applications.

同時，我們將繼續專注於加速 RTLS 產品線的發展。實時定位系統正在改變行業的運作方式。在當今數據驅動的世界中，利用這些技術的企業可以通過優化運營並利用智能工廠、智能倉庫、自動化採礦作業和數字供應鏈的優勢來獲得競爭優勢。通過集成位置感知傳感器、數字孿生和高級應用程序，我們可以幫助組織使用我們的平台創建連接、可見和自動化的工業工作流程。

Our platform is scalable, flexible and intelligent. Users can reduce their operational costs and deliver more products faster to their customers by utilizing asset tracking, automated operations, collision avoidance and more, all available via our platform. The RTLS market is experiencing increased demand from a wide range of industries, including manufacturing, logistics, health care and others. This demand is driven by the growing need for efficient supply chain management and the increasing need for real-time operational visibility.

我們的平台具有可擴展性、靈活性和智能性。用戶可以通過我們的平台利用資產跟踪、自動化操作、避免碰撞等功能，降低運營成本並更快地向客戶交付更多產品。 RTLS 市場正在經歷來自廣泛行業的不斷增長的需求，包括製造、物流、醫療保健等。這種需求是由對高效供應鏈管理的需求不斷增長以及對實時運營可見性的需求不斷增長所推動的。

However, one of the challenges is that the market is characterized by complex technology, significant investment requirements for new players and the need to develop meaningful ecosystem partnerships. These barriers can make it very challenging for new entrants to compete with established players like Inpixon. We have the expertise and the experience to navigate these challenges in a way that we believe we can create opportunities for Inpixon to drive growth and capture a larger share of the market. Our full stack industrial RTLS allows customers to locate, learn and leverage data and intelligence to reduce costs, grow revenue and increase productivity.

然而，挑戰之一是市場的特點是技術複雜、對新參與者的大量投資要求以及發展有意義的生態系統合作夥伴關係的需要。這些障礙使新進入者很難與像 Inpixon 這樣的老牌玩家競爭。我們擁有應對這些挑戰的專業知識和經驗，我們相信我們可以為 Inpixon 創造機會，推動增長並佔據更大的市場份額。我們的全堆棧工業 RTLS 允許客戶定位、學習和利用數據和智能來降低成本、增加收入和提高生產力。

Let's start with locate, which is at the core of Inpixon's Indoor Intelligence and what we have been building over the past several years. RTLS technologies enable our customers to locate or find and track the real-time movement of their raw materials, finished goods, vehicles, forklifts, equipment, tools, personnel and more. We do this by using a comprehensive lineup of location technologies and form factors. Few competitors can integrate the wide variety of technologies that we can, including ultra-wideband, Chirp, RFID, GPS, BLE, QR codes, Wirepas Massive, NFC, LiDAR and WiFi, which enable us to solve more use cases and provide greater accuracy than most competitors in the market.

讓我們從定位開始，它是 Inpixon 室內智能的核心，也是我們在過去幾年中一直在構建的東西。 RTLS 技術使我們的客戶能夠定位或查找並跟踪其原材料、成品、車輛、叉車、設備、工具、人員等的實時移動。我們通過使用全面的定位技術和外形因素來做到這一點。很少有競爭對手可以集成我們可以集成的各種技術，包括超寬帶、Chirp、RFID、GPS、BLE、QR 碼、Wirepas Massive、NFC、LiDAR 和 WiFi，這使我們能夠解決更多用例並提供更高的準確性比市場上的大多數競爭對手。

Our customers then learn or gain insights and intelligence, if you will, about their space and operations. By identifying assets and their locations, customers are able to learn more and have greater visibility into and control of their operations. For example, big companies have an ERP, enterprise resource planning systems, such as SAP or a WMS or a warehouse management system; or an MES, manufacturing execution system. And these systems typically have a lot of information about the assets in the building, but they often don't know the real-time location of a particular asset. Inpixon RTLS knows that location and can push it to the ERP, WMS or MES, so that, that system can become more intelligent.

然後，如果您願意，我們的客戶將了解或獲得有關其空間和運營的見解和情報。通過識別資產及其位置，客戶能夠了解更多信息並更好地了解和控制其運營。例如，大公司有 ERP、企業資源規劃系統，如 SAP 或 WMS 或倉庫管理系統；或 MES，製造執行系統。而這些系統通常有很多關於建築物中資產的信息，但它們往往不知道特定資產的實時位置。 Inpixon RTLS 知道該位置並可以將其推送到 ERP、WMS 或 MES，以便該系統變得更加智能。

The customer can see where their assets and products are being used, they can trigger advanced automations to deliver products to right place at the right time and so forth. They can identify how much time is spent in each step of the production process and where there might be inconsistencies or errors in the manufacturing process. And Inpixon can pull data such as item number, et cetera, from those or other systems into ours and display that data on the RTLS dashboard, increasing the visibility of key data.

客戶可以看到他們的資產和產品在哪裡使用，他們可以觸發高級自動化以在正確的時間將產品交付到正確的位置等等。他們可以確定在生產過程的每個步驟中花費了多少時間，以及製造過程中可能存在不一致或錯誤的地方。 Inpixon 可以從那些或其他系統中提取項目編號等數據到我們的系統中，並在 RTLS 儀表板上顯示該數據，從而提高關鍵數據的可見性。

With implementation of our technology-agnostic open platform, which integrates the complete technology stack and communicates with their other systems, our customers can learn more about their day-to-day operations and processes and are able to better manage their assets and inventory, pinpoint the ETA of shipments, ensure just-in-time delivery of parts to the assembly line and overall address inefficiencies, bottlenecks and danger zones.

通過實施我們與技術無關的開放平台，該平台集成了完整的技術堆棧並與他們的其他系統通信，我們的客戶可以更多地了解他們的日常運營和流程，並能夠更好地管理他們的資產和庫存，精確定位出貨的預計到達時間，確保將零件及時交付到裝配線，並全面解決效率低下、瓶頸和危險區域的問題。

And finally, the way in which this information can be leveraged and put into action is where organizations can experience breakthroughs that will truly optimize their operations by increasing productivity and cutting costs by eliminating search times and reducing errors, increasing efficiency by streamlining operations and automating workflows and enhancing safety with collision avoidance and geofencing within dangerous areas.

最後，利用這些信息並將其付諸行動的方式是組織可以體驗突破，通過消除搜索時間和減少錯誤來提高生產力和削減成本，通過簡化操作和自動化工作流程來提高效率，從而真正優化他們的操作通過在危險區域內避免碰撞和地理圍欄來提高安全性。

Leveraging this data and analytics allows for smarter decisions around changing and enhancing processes and procedures. With deeper automations and more integration, organizations can address even more use cases by taking full advantage of their initial RTLS investment. This is how the power of Indoor Intelligence can be extended and fully realized. Our single full stack platform enables these integrations and automation to address a multitude of key customer challenges. And as we integrate the artificial intelligence capabilities we've been exploring, we expect to further increase locational precision and will unlock advanced capabilities never before possible.

利用這些數據和分析可以圍繞更改和增強流程和程序做出更明智的決策。通過更深入的自動化和更多的集成，組織可以通過充分利用其最初的 RTLS 投資來處理更多的用例。這就是如何擴展和充分發揮室內智能的力量。我們的單一全棧平台支持這些集成和自動化，以應對眾多關鍵的客戶挑戰。隨著我們整合我們一直在探索的人工智能功能，我們希望進一步提高定位精度，並將解鎖前所未有的高級功能。

Given our ability to address many common obstacles industries face, we have entered into a variety of verticals and secured new customers and numerous purchase orders. As for some of our accomplishments, we recently secured a new contract with one of the world's largest telecommunication companies that will be reselling our RTLS solutions through their global sales force, which we understand is over 1,000 sales reps, including a focused team of IoT sales specialists, selling to their customers around the world for use to improve their operational efficiencies and further automate factories in warehouse. We feel this deal has major potential, and we already have pilots at multiple end user companies underway.

鑑於我們有能力解決行業面臨的許多常見障礙，我們已經進入了各種垂直領域並獲得了新客戶和大量採購訂單。至於我們的一些成就，我們最近與世界上最大的電信公司之一簽訂了一份新合同，該公司將通過他們的全球銷售團隊轉售我們的 RTLS 解決方案，據我們了解，他們有超過 1,000 名銷售代表，其中包括一個專注於物聯網銷售的團隊專家，向世界各地的客戶銷售產品，以提高他們的運營效率並進一步使倉庫工廠實現自動化。我們認為這筆交易具有巨大的潛力，我們已經在多家終端用戶公司進行了試點。

We secured a new approved supplier partnership status with one of the world's leading electric vehicle manufacturers, an important first step for them to be able to purchase our solutions for their manufacturing and warehousing facilities. We already have several automotive manufacturers as customers and this validates our account-based marketing and sales strategy to go in strategic verticals and accounts. We also signed a collaboration agreement with one of the leading providers in the mining market whereby we are providing our full stack RTLS solution to them for resale. By full stack, I mean everything from the front-end software and location engine down to the radio frequency anchors and transmitter tag modules. This arrangement is already bearing fruit, and in fact, we recently secured another purchase order from them, a 6-figure deal, and we're now evaluating solutions for additional verticals besides the mining industry with them.

我們與世界領先的電動汽車製造商之一獲得了新的認可供應商合作夥伴地位，這是他們能夠為他們的製造和倉儲設施購買我們的解決方案的重要的第一步。我們已經有幾家汽車製造商作為客戶，這驗證了我們基於客戶的營銷和銷售策略進入戰略垂直領域和客戶。我們還與採礦市場的領先供應商之一簽署了合作協議，據此我們將向他們提供我們的全棧 RTLS 解決方案以供轉售。全棧是指從前端軟件和定位引擎到射頻錨點和發射器標籤模塊的所有內容。這種安排已經取得成果，事實上，我們最近從他們那裡獲得了另一筆採購訂單，一筆 6 位數的交易，我們現在正在與他們一起評估採礦業以外的其他垂直領域的解決方案。

We are also accepted as a member of SAP's partner program. This has the potential to significantly expand our reach into new markets and secure additional customers as we can market our RTLS solutions to SAP's 440,000 customers worldwide. We have a number of prebuilt integrations to the SAP modules already available, which make it possible to easily inject location information into an exchange information with SAP applications, unlocking advanced automation and intelligence capabilities for SAP customers.

我們也被接納為 SAP 合作夥伴計劃的成員。這有可能顯著擴大我們進入新市場的範圍並獲得更多客戶，因為我們可以向 SAP 全球 440,000 名客戶推銷我們的 RTLS 解決方案。我們有許多與現有 SAP 模塊的預構建集成，這使得可以輕鬆地將位置信息注入到與 SAP 應用程序的交換信息中，從而為 SAP 客戶解鎖高級自動化和智能功能。

And we were also recognized for the fifth consecutive year in the 2023 Gartner Magic Quadrant for indoor location services, which marks the second consecutive year that we were named as a leader in the space. I encourage you to access their report on our website at inpixon.com and to read why Gartner identifies Inpixon as a leader for real-time location technologies.

我們還連續第五年在 2023 年 Gartner 室內定位服務魔力像限中獲得認可，這標誌著我們連續第二年被評為該領域的領導者。我鼓勵您在我們的網站 inpixon.com 上訪問他們的報告，並了解 Gartner 為什麼將 Inpixon 確定為實時定位技術的領導者。

And despite the headwinds in the global electronic supply chain, we have worked strategically with global component suppliers to ensure continued chip and module availability with adequate lead times. This has helped our key OEM partners to meet their customer order fulfillment requirements as well as ours. The current momentum is strong, and we anticipate that it will continue in 2023. We believe with the initiatives we put in place, including reducing costs and streamlining our operations, we can firmly secure our leadership position in the RTLS market as well as accelerate our path to profitability.

儘管全球電子供應鏈存在逆風，但我們與全球組件供應商進行了戰略合作，以確保芯片和模塊的持續可用性以及足夠的交貨時間。這幫助我們的主要 OEM 合作夥伴滿足了他們和我們的客戶訂單履行要求。目前的勢頭強勁，我們預計這種勢頭將在 2023 年繼續。我們相信，通過我們實施的舉措，包括降低成本和簡化我們的運營，我們可以穩固我們在 RTLS 市場的領導地位，並加速我們的盈利路徑。

With that, Wendy, I'll turn it to you to discuss our financials.

有了這個，溫迪，我會把它交給你來討論我們的財務狀況。

Thank you, Nadir. Revenues for the year ended December 31, 2022, were $19.4 million compared to $16 million for the comparable period in the prior year or an increase of approximately $3.4 million or approximately 21%. This increase is primarily attributable to an increase in Indoor Intelligence sales, including $2.6 million from our smart office app and $900,000 from our real-time location-based technologies.

謝謝你，納迪爾。截至 2022 年 12 月 31 日止年度的收入為 1940 萬美元，上年同期為 1600 萬美元，增加約 340 萬美元或約 21%。這一增長主要歸因於室內智能銷售額的增長，包括來自我們智能辦公應用程序的 260 萬美元和來自我們基於實時位置的技術的 900,000 美元。

Gross profit for the year ended December 31, 2022, was $13.9 million compared to a gross profit of $11.6 million for the 2021 fiscal year, representing an increase of 20%. The gross profit margin for the year ended December 31, 2022, was 72% compared to 73% for the year ended December 31, 2021. This lower margin is primarily due to the sales mix during the year. Net loss attributable to stockholders for the year ended December 31, 2022, was $63.4 million compared to $69.2 million for the comparable period in the prior year. This decrease in loss of approximately $5.8 million was primarily attributable to the decrease in operating expenses of $13.7 million and the higher gross margin of $2.3 million, offset by an increase in other loss of $10.9 million.

截至 2022 年 12 月 31 日止年度的毛利為 1390 萬美元，而 2021 財年的毛利為 1160 萬美元，增長 20%。截至 2022 年 12 月 31 日止年度的毛利率為 72%，而截至 2021 年 12 月 31 日止年度的毛利率為 73%。毛利率較低主要是由於年內的銷售組合所致。截至 2022 年 12 月 31 日止年度，股東應占淨虧損為 6340 萬美元，上年同期為 6920 萬美元。虧損減少約 580 萬美元主要是由於運營費用減少 1370 萬美元和毛利率增加 230 萬美元，被其他虧損增加 1090 萬美元所抵消。

Non-GAAP adjusted EBITDA for the year ended December 31, 2022, was a loss of $26.6 million compared to a loss of $29.6 million for the prior year period. Non-GAAP adjusted EBITDA is defined as net income or loss before interest, provision for income taxes, depreciation and amortization, plus adjustments for other income or expense items, nonrecurring items and noncash items, including stock-based compensation. Pro forma non-GAAP net loss per basic and diluted common share for the year ended December 31, 2022, was a loss of $12.25 per share compared to a loss of $18.77 per share for the prior year period. Non-GAAP net loss per share is defined as net loss per basic and diluted share adjusted for noncash items, including stock-based compensation, amortization of intangibles and onetime charges and other adjustments, including impairment of goodwill and intangibles, provision for unrealized loss on equity securities and acquisition costs.

截至 2022 年 12 月 31 日止年度，經非美國通用會計準則調整後的 EBITDA 虧損 2660 萬美元，而去年同期為虧損 2960 萬美元。非 GAAP 調整後的 EBITDA 定義為扣除利息、所得稅準備金、折舊和攤銷前的淨收入或虧損，加上對其他收入或支出項目、非經常性項目和非現金項目（包括基於股票的薪酬）的調整。截至 2022 年 12 月 31 日止年度，每股基本和稀釋普通股的預估非 GAAP 淨虧損為每股虧損 12.25 美元，而去年同期為每股虧損 18.77 美元。非 GAAP 每股淨虧損定義為根據非現金項目調整後的每股基本和攤薄淨虧損，包括基於股票的補償、無形資產攤銷和一次性費用以及其他調整，包括商譽和無形資產減值、未實現虧損準備金股本證券和購置成本。

As of December 31, 2022, we had approximately $20.2 million in cash and cash equivalents. This concludes my comments, and I now would like to turn the call back over to Nadir.

截至 2022 年 12 月 31 日，我們擁有大約 2020 萬美元的現金和現金等價物。我的評論到此結束，我現在想把電話轉回 Nadir。

Thanks, Wendy. Ale, could you please lead us through the Q&A session?

謝謝，溫迪。 Ale，你能帶領我們完成問答環節嗎？

Yes. Thanks, Nadir. Like last quarter in our conference call announcement press release, we suggested interested parties submit their questions in advance. We'd like to address those questions for you now. Some of them were duplicative, so we did our best to reconcile those where possible. If you have any further questions after the call, please feel free to follow up with Investor Relations, and we'll be sure to respond as quickly as possible.

是的。謝謝，納迪爾。就像我們在電話會議公告新聞稿中的上個季度一樣，我們建議感興趣的各方提前提交他們的問題。我們現在想為您解答這些問題。其中一些是重複的，因此我們盡最大努力在可能的情況下協調這些內容。如果您在通話後有任何其他問題，請隨時與投資者關係部聯繫，我們一定會盡快回复。

Our first question is, why did new shareholders that bought Inpixon a few weeks ago have the same dividend right as the long-time investors?

我們的第一個問題是，為什麼幾週前購買 Inpixon 的新股東與長期投資者擁有相同的分紅權？

Good question. So yes, for the transaction agreement, shareholders as of the March 6 record date were entitled to the share distribution for the CXApp transaction. Keep in mind, we have tens of thousands of shareholders with trades happening every day. It would be difficult not only to assess how long any one individual has held our stock as of any particular day, but then to implement special entitlements based on length of ownership. So the normal practice for a transaction of this nature is to inform shareholders of a specific record date to determine who would be entitled to participate in the distribution. And that's the process we followed.

好問題。所以是的，對於交易協議，截至 3 月 6 日記錄日的股東有權獲得 CXApp 交易的股份分配。請記住，我們有成千上萬的股東每天都在進行交易。不僅難以評估任何人在任何特定日期持有我們股票的時間，而且難以根據所有權期限實施特殊權利。因此，對於這種性質的交易，通常的做法是通知股東具體的記錄日期，以確定誰有權參與分配。這就是我們遵循的過程。

Great. Thanks, Nadir. Our second question is investors have been waiting on an update on the letter of intent. When do you expect to provide further updates?

偉大的。謝謝，納迪爾。我們的第二個問題是投資者一直在等待意向書的更新。您預計什麼時候提供進一步的更新？

Yes. So I'm assuming this is about the second transaction, which we have put out there that we were negotiating a letter of intent. And as I mentioned during my remarks, we are working aggressively on this. Admittedly, the last few weeks, we've had to allocate more time and resources to closing the CXApp transaction. But we are continuing to work through the process. We are evaluating our options to ensure that we are doing what we can to maximize value for the company and our shareholders, and we'll only enter into an agreement which we feel does that. So we'll update -- we'll share updates as soon as we can, but we are working towards that second transaction as we speak.

是的。所以我假設這是關於第二筆交易，我們已經在那裡發布了我們正在談判一份意向書。正如我在發言中提到的，我們正在為此積極努力。誠然，過去幾週，我們不得不分配更多時間和資源來完成 CXApp 交易。但我們正在繼續完成這個過程。我們正在評估我們的選擇，以確保我們正在盡我們所能為公司和我們的股東實現價值最大化，我們只會簽訂我們認為這樣做的協議。所以我們會更新——我們會盡快分享更新，但我們正在努力進行第二筆交易。

Great. Thank you, Nadir. Our next question, given the sale of CXApp, can you comment on what you would expect for a normalized level of operating expenses going forward?

偉大的。謝謝你，納迪爾。我們的下一個問題，考慮到 CXApp 的銷售，您能否評論一下您對未來正常運營支出水平的期望？

Sure. Yes. Sorry, I touched on this a little bit earlier, but I believe we're seeing at least a 50% reduction in operating expenses going forward over the next several quarters with the sale of the CXApp business, which just happened in mid-March and as a result of the cost-cutting measures that the company implemented starting in Q4 last year into some adjustments this year.

當然。是的。抱歉，我稍早談到了這一點，但我相信隨著 3 月中旬和由於公司從去年第四季度開始實施的成本削減措施今年進行了一些調整。

So -- this will -- we expect will significantly impact our burn and allow us to get to positive cash flow faster as well.

所以——這將——我們預計將顯著影響我們的燃燒，並讓我們更快地獲得正現金流。

Thank you. Our next question, what actions are the -- is the company taking to restore shareholder confidence on their investment? And why is the company not fighting against the shorting of the stock and liquidity?

謝謝。我們的下一個問題是——公司正在採取什麼行動來恢復股東對其投資的信心？而公司為什麼不對抗做空股票和流動性呢？

Yes. Good question. Look, we are working diligently on various opportunities that we believe will provide value for our shareholders. We believe this has been apparent with the CXApp transaction. And as I just talked about, we have a second LOI in place with respect to our RTLS business. So we are looking at ways to create shareholder value through these transactions and executing on our business.

是的。好問題。看，我們正在努力尋找我們認為將為我們的股東提供價值的各種機會。我們相信這在 CXApp 交易中已經很明顯了。正如我剛才所說，我們有第二份關於我們的 RTLS 業務的意向書。因此，我們正在尋找通過這些交易和執行我們的業務來創造股東價值的方法。

And as far as shorting our stock, I've reached out to counsel, advisers and a couple of CEOs who've commented on this issue publicly to better understand what they're doing to address this challenge. So we're thinking through and working on that. Keep in mind, there are limited options to combat illegal and naked shorting, and this is an area that regulators are also challenged with, but we are looking at it and talking to folks.

至於做空我們的股票，我已經聯繫了律師、顧問和幾位公開評論過這個問題的首席執行官，以更好地了解他們為應對這一挑戰所做的工作。所以我們正在考慮並努力解決這個問題。請記住，打擊非法和裸賣空的選擇有限，這也是監管機構面臨挑戰的領域，但我們正在研究並與人們交談。

Thank you. Our next question, do any senior management team members intend to resign as a result of the transaction?

謝謝。我們的下一個問題，是否有任何高級管理團隊成員打算因交易而辭職？

Yes. I feel it's important to keep the management team intact as we progress through this major inflection point in the company following the CXApp transaction and in pursuing other opportunities for the remainder of our business. So to the extent we are able to come to definitive terms and close on a second transaction for the remainder of our business, we don't expect that all of our senior management team will be staying. But for now, our core senior management is essential to ensure successful execution and completion of our business plan on these transactions.

是的。我認為，在 CXApp 交易之後公司經歷這一重大轉折點並為我們的其餘業務尋求其他機會時，保持管理團隊完整非常重要。因此，就我們能夠達成最終條款並完成剩餘業務的第二筆交易而言，我們預計我們的所有高級管理團隊都不會留下來。但就目前而言，我們的核心高級管理層對於確保成功執行和完成我們對這些交易的業務計劃至關重要。

All right. Thank you, Nadir. That does conclude the Q&A. I'll turn it back to you for the close.

好的。謝謝你，納迪爾。這確實結束了問答。我會把它還給你的關閉。

All right. Thanks, Ale. And thank you all for joining today. As always, we appreciate the support of all of our shareholders and look forward to providing more updates in the near future. Thank you, and take care, everyone.

好的。謝謝，艾爾。感謝大家今天的加入。一如既往，我們感謝所有股東的支持，並期待在不久的將來提供更多更新。謝謝大家，保重。

Thank you. This does conclude today's conference, and you may disconnect your lines at this time, and we thank you for your participation.

謝謝。今天的會議到此結束，此時您可以掛斷電話，我們感謝您的參與。