KNW - Earnings call 1 2024 | Know Labs, Inc.

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Operator

Greetings, and welcome to the Know Labs First Quarter 2024 Earnings Conference Call. Please note, this conference call is being recorded.

You may submit questions through the Q&A box on the webcast at any time. I will now turn the conference over to Jordyn Hujar, Know Labs Chief of Staff. Thank you, Jordan.

begin. may You

Jordyn Hujar

Thank conference operator. XXXX for us joining Results Thank to you, review today's call Operating Quarter Know for and you, Highlights. everyone, Labs Financial First

differ materially not expressed in risks facts Investor regarding page the conference release are limitation, statements. have factors If cause call diagnostic products, results, the turning at on legal, anticipated resources described actual accounting Risks or such the and include, today's and projections Executive rights. to realize to Erickson, to law. obligation of greater-than-estimated limitation, over of that company's historical please call. the forward-looking failure trials the to filing, company any capital in statements, to will Q&A required may company's otherwise uncertainty for diagnostic to be commercialization Forms remind changes or benefits, during potential FDA IP except what clinical commercializes, press maintain Ron actual ability any you results commercialize XX-K controls, obtain statements or allocations and may and to visit and regulatory this implied statements. those seen transactions that in inherent products company's inherent may our the regulatory under maintenance www.knowlabs.co.Before disclaims may expressly which XX-Q or you like these Therefore, patients' factors technologies risk and the certification. review from this forward-looking SEC statements these forward-looking of is approvals, Officer, these website make future and in in filings, as applicable These by financial of specific Labs The without differ events forward-looking need you Labs will obtain the would outcomes materially call, without Know events. quality I reimbursement strategic or update Chief political applicable We company to the are laboratory and and/or develop accreditation third-party statements. Chairman use results of the to development Any the including, future to forward-looking need session jurisdictions, XX-Q, that and or not intent from encourage Know results any as identify or follow failure

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Ron Erickson

call Jordyn. And everyone, quarter financial XXXX. fiscal of to Thanks, our know, year as fiscal year ends first highlights all conference Welcome, September our results XX. and you for to review our the operating

So last XXXX. quarter this is that of

Senior will Conley, Financial of who Vice Property, our and me Intellectual Chief financial today Officer discuss is Joining Pete results. our President

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growing and medical our proud step last what suffer So network Attending those really we're and been I'm the very his during in people excited about diabetes. of that presenting and of who achieved about a in at is communities doing, of awareness the the building we've globally quarter. from pandemic really for and what technical and us we've proud presentation. ATTD important

team's results these we come things as you'll results some dedication intense work the see as and several achievements. the fruition to our weeks, of see some next start You'll to over of disclose

over to like our he turn Pete can review so I'd financials. Now Pete? call the Conley to

Pete Conley

Thanks, We detailed FY can line Jordyn, key on find our first share as in release, a earnings XXXX but financial items. today's website, you the Ron. few quarter results noted by which, I'll

$X.XX year to to period, For reported salaries, fiscal a 'XX, were QX in XX% In an X.X%. in million $XXX,XXX of a decreased fiscal loss was the for $X.XX compared principally of to reflecting SG&A to X.X%. reduce earnings use of in per was primarily consultants was million before fiscal This principally to QX The of net compared and related net Research loss as in recorded Labs administrative for to compensation year QX key by of dividends. than expenses $X.XX increase million charge external a related year-over-year. of our Science. of Head prior The 'XX better to EPS of decrease the we stock-based the development. million of $X.XX higher of million, a the a increase QX in fiscal reduction $X.XX of translates general improvement led was of net 'XX, fiscal Data an Selling, $X.XX, and 'XX, in hires, Know expense than 'XX, noncash development also personnel and cost earnings preferred increase $XXX,XXX expense which to $XXX,XXX. loss of new loss new $X.XX million XX.X% in share by decrease product ago a $X.XX 'XX stock R&D of QX related QX

balance the sheet. to Turning now

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ended expenses rate. burn of made adjustments fixed has year the September XX, and adjustments core the to its those the monthly our impact significantly During XXXX, company reduced

operate to in reduction cash expenses enough XX, company fixed expenses, until significant and least has the June the at flexibility it Given core its with XXXX. that believes operating

As SX we To funds equity, an stated XX-Q, XX, our we expect effective convertible in QX XX, was raise that we to preferred fiscal shelf filed January issuance which $XX stock end, million of 'XX have on declared the debentures. additional statement XXXX, XXXX. subsequently registration on December through and

fiscal 'XX, versus was for That 'XX concludes review back $X.XX XX, September and equity QX return remarks. shareholder our to million closing XXXX. highlights, in ending million financial call Finally, Ron of for fiscal $X.XX I'll the my

Ron Erickson

relate to Thanks, anomalous we that increased a our webcast that we up relate some next talked course, like of regards question about a XX hard and with looked are expect In just Could any there following of We've Pete, quarter filed. to plans, the we please? spend portal. our to I'd our XX worked which, got reducing, that particular, and questions unusual like you've address what regards do to say, to questions popped what it to capital the question just relates last had here. of expenditures dedicate you there's but number And Steve. questions in and on with or capital and burn to QX, in terms couple capital. the say burn, up and We'll now a I'd submitted Pete, to the minutes to finances, finances first, on through of thanks. have Q

Pete Conley

think that OpEx. OpEx be has $XXX,XXX Core our insurance, rent, which a auditors, about at paid burn core flat product rate, cetera. salaries rate So there, that of related burn, Gen development. the team, relatively et a month. with initiatives $XXX,XXX reflects to our And talk remained vendors. the between burn entails core And and burn, partners development. The way and to the We'll more product core there's the X increase to to would Incremental pace working core we shortly. about the our strategic

a $XXX core about month that the a $XXX has on impacted follow-on the auditors then last our in the registration close of affect burn was documents paid the September to significant of that So and securities. XX, counsel XXXX, onetime and closed top category to expense that been out sum, financing incremental a to QX earning to depending. on spend and million $X One thing we was of

Ron Erickson

Pete. Thanks,

questions Let's look are know We've to relate one things want about other we've the historically, joint things on information here. one of agreements. some any been we've the of got agreements. People at questions know development joint to of People several which talked working the that on. development that's

it. company. you critical joint can future say our core when the agreements they're what the like impact several agreements. reiterate undertakings key We is think as that I'd I'd about surprise are a to I say of moving each those one these first development think work nondisclosure involves What it agreements. the that of can we thing that nondisclosure of with we to And are And that, consequence, streams. wouldn't we those success one regards to forward say

considerable and what one question website. a say indicated, of a able had years? the not particular patents analytics our go exists deeper a pay to performed lot I I'd to have you absent I'm from on for in really that dive. the of presentations a one we're And landscape. issued competitive here And It's think few an having you this.There's we we attention do this PowerPoint as lot of pipe. So X about We one the to number Can we about the third-party or of landscape could pending us. the things NDA But regards shareholders. of of is over X on our with the in we a detail. past constrained competitive We can and with information interesting. say page for But of of Investor that, the comment development long-term on any

the the that performed property continuous analytics that. to and IP holder the indicate in the leading IP do on when comes and it world we Third-party world. we intellectual relating the monitoring, our competitors continue We're to glucose are to holder of noninvasive in #X

behind that at other people which that, at not of public doing. IP, the curtain While we they're what by see terms of what we their do candidly look are we quite in in making, We the are sometimes claims supported doing. look what terms they're

solutions. competitive this thing Labs, like the marketplace. that see think and Medtronics, candidly, say I is a competition We quite competitors, all very I'll leading the solution, about it's including incumbents glucose Abbott Dexcom they're have and these they think don't their the are Because have claim which they're right? to new a entrants, And monitor. may competitors. there they We continuous have but optimal so solutions,

ever the We pay leg at be diligent in we think very this. a to to So attention end competitive It's got attention landscape. we've this. paying up. close a But of we the to have day,

we show said in question blood to spoken that about we're noninvasive when Will company latest release that updates in here. optimistically the share just our the will on January in a Italy? We've of monitor. So glucose second-generation I developments its press alert There's no the it. device

in So we'll XXXX? about Pete, want takes I about seen.There's revenues to you The to form updates. to thoughts think in showing remains develop revenues to be you XXXX. our a all expect that speak question that do plans be

Pete Conley

Sure, Ron.

aware soon us become I revenue in to take through United of require represents that is that path through that to FDA. a opportunity pulp think it's a doesn't we've product to there's of largely world be us increasingly clearance clear generation and the the our path market States, for the take our core rest current focus second what FDA family, is reveal

are and we can't to aggressively through revenue very can working I that something see exploring the to it's go in if, to so having fact, we path actively And speak generate currently, on but that without and we're hard. further FDA

Ron Erickson

in look there's glucose from of that knowing perhaps less and of in very doing I product where for all the at diabetes world. given it wearable need especially taking size would people had came high that's naturally but for its the a that aspects checking it a Generation a and X spot screening, places a something utility wasn't monitor, incidence developed the it continuous say rest and

noninvasive to I you the lead has all here platform that allocation. a think remains a blood will monitor. on it know, developing It's you capacity there's That's many not focus comes the or that a stool really of to is It's whether that another in know things. with leg continuous that we function do of a as XXXX, all be is, technology a have technology. seen. technology And core so up resource revenue glucose of happening other a to

about the licenses platform here about that out of as have Are XX-plus questions be as outside attention platform to That a medical to surprise field fruit the some cycles are of one covered I people. have looks to I are a number duplicates. low-hanging in that comes cycles things and think give that have or time pay outside some as the we conversation questions, pain can our points of And party? focus diagnostic we've come be can we arena we be are candidly. like the with I third regularity. me you, to it's some seen. technology up would that fruition time have and revenue shareholders asked had technology internally, want whether some diagnostic it to not we're certainly and know utility. a with we and it's 'XX, to medical count It where we I thing there there to It as that you something kind think our in the wouldn't Is there? licensed on I we've up. It's remains certainly generator. where alert arena, wouldn't comes attention certainly So there to use of could of But something

I well, just Europe? conference. me leaders, -- global to to so key of Florence the it's conference. the this in conference KOLs are think let think we've couple going we're to categories trade Well, add a I you in be candidly, one a ATTD, the primary we've are here. at Well, why in And of things. These opinion And would questions, go big conference. going covered a a

have what they're talk them, luncheon so by leaders We're, a opportunity about and doing. to way, global at event. a to that And a the with to called be them with Diabetes key meet there'll opinion we number of the hosting Children organization

for opportunity and people doing. to us an network to it's So to what we're meet showcase

about made presentations. to So we're going be indicated these be to talk by to our make as we're Mayo the able what about doing, They will talk clinical Summers, I Clinic, results. we're from going two Dr. present technology,

So and it's a a global great for us. conference opportunity

be excited that. come material out we're We there'll Obviously, about So announcements. of that that. some hope

those insider all thank and so all please It's speaks so kinds all information, questions. Conley any for well. questions. in us to so lot NDAs engagement, have your engagement constrained keeping be of I very think Thanks things, your reach to a touch. support. Pete and Obviously, speak best for to a I thank Thanks you to for to Thank you. of of you. your don't with We you and in the much, like great understand to you out with I But touch, by and everyone. that, of want hesitate to you. lot

Jordyn Hujar

in coming on your call be replay The for the Ron. Thanks, Thanks participation. available days. conference website our will

Ron Erickson

say, today. Happy is let And without that in saying what is thing. because, I go Valentine today more it can't One I'd it fact,

best all you. So of happy very Day, All Valentine's

Know Labs (KNWN) 14 Feb 242024 Q1 Earnings call transcript