HLIO - Earnings call transcript Q1 2024 | Helios Technologies, Inc.

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Operator

Greetings, and welcome to the Helios Technologies First Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.It is now my pleasure to introduce your host, Tania Almond, Vice President of Investor Relations and Corporate Communications For Helios Technologies. Thank you.

You may begin.

Tania Almond

Thank you, operator, and good day, everyone. Technologies XXXX Helios call. results the to First financial Quarter conference Welcome issued our announcing press yesterday We release results a afternoon.

hlio.com. If release, you at it that is available do on our not have website

will along will They our accompany with You XXXX. will are our and review Executive Matosevic, with first for and Josef slides Chief Sean find there Bagan, me our today.On our our the also outlook conversation line Chief Officer; results President quarter that Financial Officer.

to your you call you will turn Safe X, the We then Slide questions.If will Harbor to open statement. our find

As presented to our that forward-looking as risks future to you Q&A XX-K the filed cause factors could events presentation risks may session. from be to during the uncertainties factors subject and are materially XX-Q and other aware, filing Securities we uncertainties in Exchange actual will results upcoming make have and be to that differ statements as provided our some today. These These been well Commission. apply with statements and as other this those well and as

documents are our our find some these we financial discuss will we during today's on out evaluating can website call, will sec.gov.I or non-GAAP which measures, also useful You in point believe at that performance.

consider as not presentation a should in the information with or additional GAAP. You substitute of prepared in isolation this accordance for results

comparable my Please to reconciliations with measures tables pleasure non-GAAP of over the provided GAAP X now.With turn call Slides Josef. reference slides. We and that, accompany to have today's in the X that it's

Josef Matosevic

year, and commitment validate everyone. We to had Tania, solid and plan. thank to deliver our a welcome, results you, the start our ability to and

starting of to the keeping dedication real to to demand continues great there, with our and the see Asia, quarter quarter the our in for not see a you global all we results to stepping opportunity regions. gate. to green trip but Our I out up encouraged Thank and over the meeting growth. just for only completed fourth customers. am Helios the to are improvement shoots our in with our promises we the team We long-term team demonstrate responsibilities

While end in plan. regionally volume, remain and we we conditions higher our there financial of which by the improvement. macroeconomic the this and continue expand to geopolitical we sequential somewhat took our are clearly margins, market.The strength structured business discipline pockets keep protect global and We delivered strong executing to will expect saw as actions nimble,

as continued operating comfortable our guidance great make with headway newly we to scenes, Importantly, affirming a company. previous integrated we are XXXX.Behind for the

couple only commercial We of begun. and have have and enhanced a officially new just we space, service have the subsystem wins food entered

We become years. meaningful expect several this to next us over for market the

Importantly, we created solutions that every application. have add in innovative value ticket

access power provide several position as other and remote unique hydraulics user can enhancing the electronics. continue cost intersection innovations ownership.We of control, consumption, opportunities durability at we of our and end lower with better total Our greater to advance leverage

new ones. and closely continue identify our all are opportunities fact, we've in described In we customers previously to still work with play, to the

our we as and are grow the own and Helios we participating us. with subsystem market strategic internal repeatedly making sales expansion been understand in that with system brought are together validated distributors pieces our to selling of are several customers. we significant announced and their with our received solution have recent from to As exciting, opportunity value They flywheel This have through the to acquisitions starting feedback various direct through has in capacity, today.Just the examples gearing really Many offerings partnered customer also our up resonate already in visits. innovation, with WaterGuru.

know, factor any for having critical water-based and application. a is you clean As water balanced

pool a and market. serve. is leader for the and automated for markets to unique technology and We an in This bringing patented a collaboration their the market. example spa, where worldwide is water sensing OEM how licensed are plunge cold we integrating driving market solution exclusively Helios we plunge innovation the spa industry-leading are This treating of truly another for is

Additionally, this for another model. will opportunity provide our recurring business revenue

You progress, will discipline processes organizations. hear are more instilling of as year our improving about progresses.Finally, all as part financial stronger a this the financial our and the integration and we forecasting across

to than Sean of before.I All more are the call strategy operating our turn the quarter into our we Sean, results. now saw through progress ever this to our tied companies discuss please. will over

Sean Bagan

Slides review to you, Thank first to X Josef, will start results, XX. I quarter and talking through everyone. hello,

earnings a press opportunity these the release. took new we repetitive some streamlined enter year, presentation. the data we slides and our As We between to redesign out

Hydraulics both addition, quarter, expectations due to our fourth we low stronger off APAC increase results. year-over-year on as the first came with the sequentially. serve.Moving insights began positive. operational markets the and at fulfillment incorporated our $XXX really mobile the and our performance Balboa to turn the Sales at In and to new business. base Compared we revenue This have in and market came million, region in the a quarter Electronics above drove order demand

expect normalization inventories, the from through demand We will year that moderate these of provide and patterns order support categories.

strong. respectively. is the market the and impacts as the geopolitical Indiana, last EMEA, X% Center Compared the ramp reflecting Americas and in region.On we Excellence There other all in a with X% Solutions Manifold to slowing APAC we to Hydraulic broader year, negatively new our up continuing basis, improvements had located in X%, up.Geographically, Mishawaka, decline of continues agricultural is impact year-over-year a addition, of as were and quarter-over-quarter. regions In Wellness in well of performing was Health

margin Gross compared profit latter year's average the in expanded fourth and for at the XXX last business drive contracted the the off various have to with XX%. a room margin year to improvement improvement points while a and has their profile is Wellness capacity quarter basis lower lower of SEA helped a compared year-over-year up Marine, profit to which our with points offset years.The structure a spring last likely margin million, with will as cycles segment. very expect moderated level gets basis as volume and further level more own expenses, now Gross half that reminder, normalized markets few XXX in Vehicle and operating remain gross rest similar gross our year season declined progresses. a with gross perspective. utilization of lower in Electronics Health are We the from margin for seasonality so stages a Recreational XX.X%.As the $X.X of solid, Agriculture

plan, short-term mix impact. it have capacity, a to ramping we can it back degree As is our full that to the outperforms

those we low Of improve adjusted actions trailing of deliver profile course, have and continue in taking also the focused to higher will margin we in XX.X% to quarter margins continue above quarter. costs nearly the elevating are productivity, which our XXX is points operating margins.Non-GAAP solutions, basis rationalize

to to work realize we operating investments still are historical encouraged in the positioned along delivered business continue facilities and optimized by get disciplined volumes back are We Our the do pacing quarter, further and financial have inherent improvements were of as to to not our grow, expenses. in returns. leverage acknowledge but yet first with to the

expand capabilities of cost to goods added in investments capacity. have and reflecting both sold operating our We our expenses, and

end $X.X Sales across the improvements you with X% the I and of Sales period down year were will XX.X%. EPS tax our deliver despite of and $X.XX were discrete points healthy million.Sequentially, to mix the yield several sales items.Diluted our balances resulting sequential million quarter million, of non-GAAP X% relatively regional disciplined This find profit the absorption or of million, X%, comparables, $X.X of EBITDA also driven on return rate impact of margin primarily benefit due year impact basis broad-based in foreign enabling markets. in impact in and expect segment investments and unfavorable revisit prior contraction growth profit quarter a percentage in compared million the gross to labor all higher from Hydraulics to $X.X segment. levels.Year-over-year, $X.X historical of impact these have sales, XX.X profitable $X.X gross focused the markets from on volume. and impact and grow spending.Our all up of improved increased to volume into the first $XX.X grew points, the with Slide basis million, by compared trailing points, for and had costs. sales We the We expanded by average against the quarter reflecting points volume XX to period. expanded first year-over-year, year.Briefly increased Sequentially, nearly $X.X effective I adjusted segment, declined over includes interest the is us to basis with Gross a more SEA contracted XXX lower the mentioned. fixed expense the the very exchange unfavorable Encouragingly, quarter despite last year expenses over cost margin tax jurisdictions or of growing $X.XX segment gross challenging revenue. period. XXX the efforts Hydraulics higher-margin sales review different million across was discussed. prior of basis reasons X, XXX the debt reflects mix, or higher in the to improvement rates acquired reflects business, the prior X%, interest It

investments with to helped operating impact labor Our acquisitions while Electronics costs XX, offset we'll to our measures rate R&D.Please in and turn cost discuss containment run segment. the the Slide maintaining and of

segment led Electronics show returns.SEA up year in were really fourth quarter. the fourth January is up May. and The income until to expanded acquisition of gross XX% the and start the as $X.X the growth last compared the the double sales partially profit iX Given with model of the Sequentially, $X.X with $X.X and not with did in profit million quarter year Wellness, gross operating expenses resulting up growth trailing or margin leverage vehicles, in and our points. $X.X expanded margin with end operating This basis from effects XX.X%, gross Schultes XX%, revenue industrial or gross through improving points. We drove by compared markets. or Health segment.Compared million, sales had XXX XXXX, gross the end segment and and incrementals improved volume in XX% of of year-over-year, were acquisition the increase XXX margin the up where end including continued profit digit modestly the PD sequential and or million, basis driven grew from foreign off-road $X.X or by a this concentration, digit Double markets.Higher currently. growth Health nominal X%, in acquisitions. in Electronics to currency Wellness for the $X.X points. basis by industrial expanded Electronics volume positive in contribution weakness revenue in X%, its million, conditions million marine U.S. Year-over-year, offset and XX Sequentially, last along XX%, close and XXX%, until business in million, solid

ago year into review did loaded the of of compare.Please those fully a turn not XX have either for period to So cash flow. Slide our the

cash shorten generated our up $XX.X demonstrated first our quarter conversion in from financial of This $XX.X We operations cycle. million the of cash quarter last priority to from year. million,

ample out million, our measurably The the for inventory our was Slide At had the and our of of executing of is we also for weakest expenditures ability improved of quarters.We net as tooling guidance, sales, X.XXx. equivalents our the the to targeted ending the inventory X.Xx to available so down is This at range, in liquidity. inventory end, year to and last would leverage shown of meaningful ratio end cash processes end cycle more of to we first on $X.X get management million. other focused to prior us Total close contributor further our the we also Xx, EBITDA as we the Xx at X million to closer Ultimately, adjusted $XXX Slides flex debt ratio gate we of quarter, maintenance quarter the steady year.Capital the was cash credit, X on but a first over lines first from we plan $XX.X our on XXXX. or With quarter XXXX midpoint to $XX.X flow through our our quarter XX. the in to the sequential of were for XX balance XX. million encouraging, conversion be decline the historically target our million, cash debt first the of had past and the the to quarterly quarter, revolving improved end optimized reduction free lower coming to Faster was be room and declines cash for quarters. At expect acquisitions $X.X over up X.X% between and improvement. We cash generation, and are investments.Turning think Italy.Turning primarily were has over of this modestly of leaves providing expansion step level quarter have CapEx,

We are XXXX. affirming for outlook our

presenting the fiscal from no metrics in XXXX with changes are and other and We release press materials. can you slides XXXX the communicated items estimates with the supplemental February key our year what find here, to our was modeling earnings

$X.XX million per be in As and non-GAAP diluted of in sales to $X.XX. to in $XXX shown, of $XXX million, EBITDA are XX%m the to range adjusted range expected range earnings XX.X% the of the to share

our in incremental volume, sales expected line bottom year, establish for million the XXXX.As affirming second $XXX sequential solid disciplined improvements for our to improvements. paired year support management, sequential the balance guidance we operational support did of in further with profitability further $XXX order for the XX.X%. are first we coupled fiscal and anticipated the This of sequential sales rate further would million quarter, to cost adjusted range estimates and in EBITDA improvements sequential quarter Given results levels XX.X% full quarter, demand like for confident and expansion. we the to Current of first our margin with

of a the signaled on we continue our provide operational to to XX to we XXXX the segment. As half market new by in year, year-over-year some slide see tougher understanding drivers we where of comparable basis.Slide earlier intended and expect is a be first

I financial priorities Slide remind want to XXXX. for XX, of to Looking you our

As I and this have performance. year about is said before, predictable execution all consistent driving and

underlying Helios. discipline of the strengthening financial structure are and We

for We cash it generation me our resulting Josef expect remarks. let some back improving will to investments.So closing profitability on turn the and provide returns

Josef Matosevic

Sean. you Thank much,

our and as The committed, seeing positive showing grow. are strong returns leverage gaining XXXX traction we financial the is we we our invested we of in executing As priorities the the already foundation improvements on have start elevating and year results. built our on capital is

and strategy.We and of business strong years the and several people We do. suppliers ago, in When voice strategy. an started collaboration continue with we other our journey employees, we will we that incorporate value our this investors with with maintain and have our to as customers, we aligned our service focus augmented ensuring and our customers, reception the completed we all

were give fact, feedback now the us us regional the With of investments levels our we primed from to the markets In gross acquisitions a over having the and place, to conviction across cost make expect improvements product back growth our that deal in margin customers and normalized our and to innovation, has recover. capacity, good as which for integration completed regional get structure time.

the know, the structured up. is As our volume incrementals our you of many way model grows, is show

flow. margins place our a in and and can We redefining top-tier that cash deliver leader Helios have landscape industrial securing the been as global

sets lines coupled Our come.With profitability up and for for please. strong for growth years that, with us the open let's foundation, a continued to methodical up Q&A, investment,

Operator

comes [Operator of Chris Thank Instructions] question from Moore Securities. you. Our with the first CJS line

Christopher Moore

revenue? year. you start nature on to food the when them more Maybe service applications you have talk just start of space. maybe start commercial good impacting Congrats a Can to we might the and the a can little about these expect bit on

Josef Matosevic

and Chris, morning, Good thank you.

been market, just compete needed knew win. we the applications enter where we differentiation In a food market chance now geared a lock service, certain everyone have product, with there we to years. and is target the the terms up also in ours a but the couple as for aware, to of commercial we certainly of has market the And up and technology not

for So very this us. market is a large

We taking a methodical very get steps are to entry. strong

believe or and in have areas systems will beyond we separate lines the play. We in commodity product get a for when but from come be customers X to this looking a commercial do We're years But expand from closed-loop line, dealing now that X service just and into total other play for us on hand, baked space, play. XXXX economy. our is X of play, into a just we headwinds a of food wins beyond guidance. And X significant not the one to the the this, not of then product that still profitable more with

Christopher Moore

it give there Got it. bigger a Very the progressing. expect like to anything you discussing can couple sit helpful. point specifics share you scope? these XXXX, the It some bigger a will you're at sounds OEMs to deals? that looking this where maybe And stage. feel to of system you perhaps still Is for not from part of on in the today deals, is you is, at that better discuss us second be for reasonable else

Josef Matosevic

of Certainly, all keep you our folks to obviously continue expectation updated.

this in area. invested have We

beyond that, have gone We deals larger in the super about is expansion impact capacity to a and launch. continue then And strong up quicker our larger finishing some in of Naturally, the still and with a or little Above has global have support in could getting an those our collaboration type that, on and we we situation a market Europe to communication, All faster. sensitive and obviously play. geopolitical in exclusivity. everyone customers. be true this -- mid leg terms are

still we every once and can time But what accordingly. to intention in the and our communicate to have play, continue question, the communicate So answer your with are to discuss customers, green light. we we get negotiate in at point deals we

Tania Almond

with which smaller think is subsystem And too. in of and just are they're in comments, prepared sales, selling mentioned medium investing more. had it's about wins I his already worth this to capacity OEMs adding, sized Josef Tania. And sale distributors Chris, our some sell we've our win. in subsystem are started how and talked additional already to a lot there we've products

that that but our market really this other seeing we products direction. OEMs, data Everyone a the parts all we feel got of encouraged additional we're can process, So points be lines time we've right of moving from think to knows the in the the long largest just right that of by those strategic the channel. points validating the very all

Josef Matosevic

a the in water just balanced Wellness. clean, having data announcement recent pinch a system an Chris, industry the WaterGuru time, sale for point of Health in been in application. we the maybe additional and one And Wellness point on obviously more terms long did Health and That's

And we at time, treat with gives sense, through you water the look coupling an both an parts strength application us gives so see it us automated And but over when AI and also gets here, that clarity, system, there's then levels. that companies' And it sends established phone needed, leverages any ability or partnership the not automated chemical in. have water low, order -- only to WaterGuru the to and it the the any suppliers. if log on an system can needed you as it the automatically kicks chemicals dispensing your with on

deal pay to certainly years a the dividends. come is will pretty this for So over us that significant

Christopher Moore

it. Very Got helpful.

Operator

Our next question comes Jeff from the line KeyBanc. with Hammond of

Jeffrey Hammond

I'm maybe with mobile to construction wondering think of then just It within fundamentally some rental seasonal like you I seems seems kind certainly XQ. the end seeing you cyclically be are bottom. better I'm There uplift? improving along what seasonality weakening like And kind Health think versus feels trying as you and of what seems actually better, seem ag. getting seasonally. So XQ mobile historically, because sense And really But what be versus to moving is better of markets better a mentioned off Wellness. in get it a and to is than

Josef Matosevic

Yes.

improvement seeing it's quarters So belt, right in under X Jeff, going and the the direction. are improvements and that now clearly the Wellness, Health in has we

ag just market, we on least not We a pace in contracted, do U.S. the as level some starting at has market the other good ag that in So is very Europe. see stable, in America also Europe, have North in the confidence but at everyone industry. to know, APAC product hand, and a offerings. rebound, in our slower

industry On alternative side, energy, we the general has for us. been see stable mining. industrial pretty The

mobile the recovering somewhat is obviously, coming that one in have then longer. the that the still we stable. certain the the take in are There's side, process one will On contracted that's and of The are industry. China, pockets others rebounding. only is European There back that mobile nicely. And

summary this looking were the that for. of kind hopefully you So

Jeffrey Hammond

Yes.

Okay. I'm if single want And commercial in your common time you does in like those more view a kind customers It beyond multiple product product and common Josef, market players are to spent takes market, those that And product that to then, It across portfolio out controls I sounds to food of lines. got seem line like to go that single the broaden you on know what service. wondering there lines. controls. of it of wins

Josef Matosevic

Yes.

It And Jeff, The have of has now desire there going and was years. system have and chain. path in obviously wire a very in in a we field our also different been service So only application variations monitoring a algorithm food a to was that's that have It that challenge but that terms single who AI the belly we kitchen. have over product complicated platform, on commercial also time. the entire for and long, common can with that with switch button offering applications offerings. for control harness supply there series invested long what one coupled not X is not can really became to connect

one you can brands if to one in talk to still numerous And equipment able competitive another. will And be that the brand have application. independent, you kitchen, or use so the

ratio and here is up sure be shortly, coming there, you I'm then will Jeff. So

demonstrate can talking of applications we those we're about. So some

Jeffrey Hammond

sounds Sean, one. pretty last big you cash like capital And think it a conversion. shortening Great. around Okay. opportunity is working just then

working can you of if how over of couple a on take you you the capital think system views wondering out Just initial years. have much any

Sean Bagan

Yes. Jeff, thanks for the question.

able year, into but us We bit for first we a back I year, quarter as last So, given conversion the Historically, of showed back day target of huge it's definitely kind got the levels company get of days And area little but going improvement. not this think in we the those to historical where was we take couple focus to cycle. years. of a XXX, operate year. the to XXX the those the from that's take to reduction quarter, in levels. get did a didn't cash to first the out end XX the over quite time, We're trended this

end So we'll the quarter enter days the second so. here XXX first -- around or of into quarter and

drive to down towards continue that So that XXX target longer term.

Operator

question Nathan comes line from Stifel. next Our the of Jones with

Nathan Jones

to Jeff's the I on question there. up that about you're improvement the wanted mobile markets follow and seeing

when this it's level clear improvement lower think be is the that to fairly OEMs? rather improve, at than more in I there more to that And of on running units equipment the OEMs' thoughts expect production channel to going in going Is mobile going actual a going you from come still itself to the produced. there's is market of be destocking an that a do is the here to at any is destocking end? some down XXXX. machinery reports the And

Sean Bagan

Sean. it's Nathan,

we where slide on our second of coming a net our the the So think that soft our I last we're dynamic trend. of within half pretty showed a I impact. think for lot on quarter-over-quarter of little off felt year bit us a And we sales earnings is first kind slide,

China significantly. South seeing we're Asia strengthening So from a over market, the specific is particularly Pacific Korea in it And strength sequential where perspective, and to think improved. I

coming of some we're feeling And back. that so

just of validated. month highlighted Some his seeing that and shoots some remarks green were was and over there in clearly he Josef prepared as last I there.

side manufacturer, and a that the getting a of on little We think probably I kind I feeling. we're So bit a think and of from the what of through cycle were earlier supply that's we're already.

Nathan Jones

were Obviously, then I'd about that basis there. And a to sustainability rebound my gross improvement? at what from behind bit margin ask of follow-up those to electronics. expectation love for the drivers gross huge kind of a in little quarter, points XXX And question, more fourth to get Okay. the improvement, wanted margins any the levels. I color further

Sean Bagan

Yes.

X down there's last in And year, excellence in headwind some in as of our our significant pretty know, plant. we you some there. last had Tijuana centers margin made investments So we key that And of drivers year. manufacturing

coming big relative that quarter dynamics. of cost was on in went to X on fourth we But as what that the Some quarter finished the is plan. first

wellness was side, our and health on orders and the really the expectations. First outpaced were strength, the Balboa strong

So contracted we were it able specifically. would was of quickly. internal of kind those to our to because of come incrementals that. And that frankly, the half our even upside overdrive on And from on that, the and to attribute year, beat those second incrementals most all year, plans in our of guide I through so last last

our controls at was piece other The business. innovation

from a helps some perspective we the fourth quarter lower certainly line Although year had took cost the that the Tulsa revenue those actions and then integration and by moving to that and some top cost wasn't as and last efforts Tijuana of from strong growth we wasn't well. the all there, production in as

the to drivers main sequential the were those improvement. So

Operator

[Operator comes line from the Dobre Instructions] Baird. Mig of with Our next question

Mircea Dobre

coming of where obviously your production quite that down EMEA for a bit are of assumptions Americas look what EMEA, support as hydraulics and that But to is Trying sense your over-indexed here versus in at sequentially the want in revenue sort to a well. kind how on half. around second versus you think for of up outlook? follow is revenue guide Americas about embedded know we agriculture, what's second And I quarter get when OEMs. to you sort

Sean Bagan

question. it's Mig, Thanks Sean. the for

is business the and So indexed to to of spot Hydraulics growth but top certainly terms Asia. pressure in the yes, to coming the which so more you're line indexed some of agriculture. the more highly our And And on geographic from EMEA be from a also our Sun that's is Faster would mix respect with perspective. business, where felt Americas

pressured, And we run be in contributing of expect, just top strength rates. every Asia in to And of business. we come we're expect that quarterly order similar But the look of that terms from quarter more of seeing Faster line. demand is of that Sun business that. the current I will pretty to earlier the some of mentioned Hydraulics overall, some a look, kind again, the kind growth will the and given From

Mircea Dobre

And of be revenues of Or are a see. specific be management that you're going year here, the to there that component for margins like of what to? net through to segment? QX, are the applying to cost should margins going given sort we the similar I kind the is to sort then think effect similar

Sean Bagan

similar. margins, there No. We're increasing year. in going pricing into is lot that see of being was levels a revenue The to the last at end the despite key play went to of expect Hydraulics actions drivers

And quarter in really play. because uptick get didn't in first already much those so that orders were of we the

you whether with due grown our we're Faster acquisitive in addition, been past know, a still as Daman that's We year. and that, hum movement, That center bit of we've are a going as you Excellence. consolidation Americas we well play in starting excellence is now. there's that the with backlog working as in in know, Manifold NEM. some a through of Europe, through Europe, put In bit a of Center last But similarly of really to or

our to looking Sun to there. really addition leverage footprint in So those existing facilities

And certainly, top So help go. particularly the line support under our growing those pressure. the margins very being disciplined cost, is we where as will areas on we're

Mircea Dobre

it. one, final allow you'll if Okay. One

a I'm like to full seem discussion you back of selling selling it don't better classic sort innovation the for the sense you're something vertical. thinking Are control fit that? Going to I is type I'm like into this they controls high get exactly vertical. here. And commercial things food trying that guess or speed ovens offerings, for that of what when to

So adapted. comes of Balboa your group probably I'm out been is this something that's assuming that

can also you maybe So I'm as what here. clarify is to the that.And curious opportunity

So how in if I business. a to look marine similar in your million at, $XX time? for what, say, opportunity sizes be marine point you commercial business, think I Electronics this investors? in mean, $XX of do worth of that's, food at million frame Can I

Josef Matosevic

Mig, morning. good

than larger that We the mentioned at the opportunity, planning of over $XX to much it or that terms come. bigger. and be In could you larger look years million market

significant As you know, it's market space. a

you capabilities, of are we're the those selling, good/better/best screen Balboa's invested through to as and in products. products different products actually sizes or either in innovation if motherboards place, certainly market had space, terms a it's or we new We it's enter developed and algorithms had we strategy leveraging leveraging hardware. and -- that internally remember, In software or

So our a selling versus commodities system. so not selling much focus was

So and and a subsystem that cases, many replacements. will in include system,

level cold time We the are and expand pretty and over at into of much starting a area. beverage then side, hot

that's where we So kind are. of

Operator

Thank you.

Ms. session. question-and-answer like the turn of end to closing I would the for reached to back floor Almond, comments. have now over the you We

Tania Almond

everyone, you, Thank and support your and in for Technologies. today for joining us Helios of interest

investor We couple months. the conferences attending next of over number will of a be

So to me feel we seeing road. the look Please with free reach forward to follow-up on a of out day. you questions. Have to all any great

Operator

Ladies and teleconference. gentlemen, conclude this today's does

disconnect at you time. your participation, for day. this You wonderful Thank have a may lines your and

Helios (HLIO) 9 May 242024 Q1 Earnings call transcript