on us Company file for want and to with this to everybody the And Thank you, more our as would morning. I joining this we what’s disclosure everyone. XX-K the of filed Stan. XX-K certainly I morning. you the welcome, remind appreciate XX-XX-XXXX. going full in-depth Form with you And to and respect I year-ended that a did refer
larger to refer my more issues that. here seeing larger we sit the and that please we’re as I’ll today. comments trends So, to direct
longer I our want it us XX SEC this gave First has an taken to of our fact, And the little days. automatic of extension in did filing -- extension, a XX-K call with typically we and does. an extra think, our realizes I year an everyone all, file conference that than
this we date. due So, met that morning, by filing extended
harm, no the the April we extension occurred the on the refinancing for reason terms for needed no of So, foul and or actually that. need to primary was extension Xrd. The conclude in that closed
to Although this thing by reasons the we for wanted of we wanted get the of unable subsequent file Easter a conclude so reason variety do holiday, that to tried really statement financial We end and financials weren’t event. March, extension. our and darndest time, for on a to really in be in obviously. anyway, could our as we But so the footnotes to that’s including and close able put our that
the million on included a warrants on closed which roughly debenture investors exercise has institutional Xrd. Just in is $X.XX X% is close. with $X.XX refinancing. The on above per the price talking XX% share April that share. on convertible debt of And We The a per conversion is $X market a day share, price warrant that. about coverage convertible $X.XX
December have P&I cash dilution payment four. month in did We institutional premium looking XXXX. was that debt this believe the deal for that group in including we have So, concluded we new that investors from some debt, is that market a impact. and good start maturity alternatives the of and a a the to we And maturing and Company with were investors. XX-month a convertible The we for the the existing best terms date on go was for to it then refinancing And financing. the got it this think Company. investors institutional the various We of at from
fourth month, also we pay payments the of months stocks. four conditions do the got we the equity meet we’ve PIK So, assuming pay of with in can and that after that no interest notes, principal
that So, for and good debt was transaction off. anyway, paid we maturing a our us, it good believe off a folks got financing the and
that was the the reason extension. for really So,
Looking financial to to and this as $X disappointing statements. management by were reasons Revenues the million. let’s probably XXXX they and at the Board And at Obviously, look declined well. investors the decline. the for
did camera the reason number think, competition area the the products, body-worn and one in systems. our price as I we particularly was, face law primary well fierce in-car
of you years one-year in that free of at frankly, participate get And we free kind in that those customers we those shock will of many and competitors. that when another the think, with sticker the promotion. re-upping not offered product have after one I sets about by to cloud crack services quite believe contracts. chose heard our initial We of the
that with commercial. decided forward services away and to not And new price and products systems area. are we we those in in law and participate video product So, away. price believe deep discounts, introducing in fact especially to both -- that’s moving not Also, way giving the in-car some compete for we
somewhat copycat cases and have believe that protect need leapfrog be have our with infringement we technology we will intellectual market, litigation features come what patent technology, out that that patent we actually auto-activation we for already in our try on. patents, on dated. will certain to of we’ve in advances and that as property newer technology. We apply filed And go the with we Our products to are the probably will obviously with do which competitors fresh forward our technology technology
share that will We’ve for in-car market with believe coming that got been to a it should be higher will, you we XXXX have we during revenues deadlines from increase. a Commercial increase base, I this new much technology, really but we if did will high-technology, leapfrog So, introducing be later new but products lower systems. actually somewhat won’t with you year. internal
recording commercial events that contract think, to-date. It capabilities largest contract some our the last get AMR I recorded. some we of some about not because was that year. got or occurred talked did stalled issues with issues That
are Therefore, commercial did We are management have more have are from larger moving to two our primarily issues contract revenues contracts a contract. service generally, commercial through service conclusion commercial through sources revenues. services worked for upfront based that with cloud towards issue. would revenue by driven of those cloud now driven the Also, side. system. hardware revenues been those fleetvu.com, resolution or revenues Otherwise, much increase and our by it not using the But FleetVU product and sales commercial five-year -- was
the did all of So, to accounting in reality, that from service during increase year, have increased more side, but us revenue -- that commercial the service. over products the we the revenue included amortize requires would the the although had period
WatchGuard. declining year XXXX, I we a with of and a what LLC. now are part Axon It with supply VieVu, trend increase November. revenues? of shipments all, is sign have think only right at during it revenues VuLink contract sales in central the It reverse in We auto-activation XXXX. $XX,XXX late it and and did required to was doing last up. the year; Looking this First is was litigation late perking and distribution it signed VuLink patented is of are we technology; our
maintain well $XX,XXX to XXXX us $X.X with. in to required their $X They in VuLinks to exclusivity. from of buy they million as exclusivity, shipments have XXXX million So, maintain it XXXX, in in as only which complied their
agreed about that a to let receptive to new a Generally, units. which roughly will little obviously same revenue in about is What X,XXX XXX you XX replace of be in firmware we SD We month. the for AMR and that revenue we that believe asset me talked purposes, technology So, go very in commercial give ATUs us and will units, and so out sales. we’re of to some some AMR the tracking introduction in-car a going the video ATU about market to the upgrade will I far X,XXX, and features deployed beyond. in and will those. terms improved generate we very that happens, card The bit. hopeful shot products and parameters. that internal that has bucks that at deploy we lead about we’re be memories presenting. XXXX, contract will the new time, service recurring talked that’s think, in units late for XXX have of of XXXX big those units The And I new
math. the do you So,
that And talk process revenue of upgrading obviously And ATUs and in installing commercial for more. NASCAR excited probably this we’re in sponsorship We’re access you at our where there. the Gosh, at runs service And their and The about the XXX size, allude well that the to units. from know that. more sponsorship, will get those cars will sponsors, very Stan But site. about that to. race the And business about that the specifically opportunities much are other well we’re companies NASCAR look buy they generating do as that that excited other we’re might represented very couple to there relationship. down opportunities a I sponsors generate and terms I in fact, other NASCAR very lead it contracts NASCAR. can sponsors. and on by already that kind do very not a in typically it. business the with we’re sponsors the won’t everyone of with companies later. may we’re to tell family to promote road the of business Stan of are large
South international large large opportunities phase. They’re large the we’re in-car commercial. -- Europe, law there body We beyond point, report some on, cameras particularly in well is very in and Central in and and but anything have both involve selection We excited can’t going this at some both systems both really very that Turkey, about. that America stuff
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the time it’s those take a issues about bit surround storage to the stuff. through excited we’re work and So, all little those that opportunities. of going videos But, of to
SG&A. about are to Second our would talk I like is
And again, financials SG&A the progress a not XXXX of a Stan versus did an Board where some and and SG&A initiative the $X that result And XXXX, our SG&A. the you in measures reduction that look reductions and we We’ve in was of seen quarter. reductions just was at first that of If not mid-way substantial containment did for the the figures. I of was XXXX then, XXXX Board burn by implemented fourth did took And some and reduced occur fourth overall a our until headcount to quarter through XXXX. occur million. the headcount quarter primarily implemented lot and approved
full-year reductions. and So, reflect these of savings XXXX the should
these estimates or of Our better be is is that $X.X XXXX by of expectation SG&A million savings based our will deployment versus in on current reduced XXXX.
a very, kind EBITDA the right necessary it’s tell, SG&A do of Obviously, [ph] the can sales on very significant and you more painful cuts but results. step the as SG&A So, that. in direction towards to were positive
breakeven is With really on reduction really the in that per million, substantial is quarter, in gross SG&A, of -- our pinpoint the that EBITDA point low XXXX. X.X exact now Xs the million, that’s margins happen and X.X dependent the in
We either are out So, some the with happened? and we And positive a very the Overall, the us coming started but near We’ve about that with of that EBITDA talked have earlier, catalysts that Competitors the improved contract. towards revenues in XXXX to results our inching we we’ll there hopefully, there cuts. will What patent. was down year the catalysts are XXXX. that VuLink brought happen difficult breakeven about believe now. substantially in VuLink these or monetization the happened future. moving will towards large have talked be or we happen are
in this going asserted courtroom is we’ll some office competitors far. against the are With at all just that five seeing had and and in to can’t WatchGuard has have that and in believe is IPRs but monetization transactions XXXX, been now that the point XXXX. all office Axon competitors, -- that June. our so the denied over There’s, are so the recall, and they patent, Also, us. stick, about the we’ve the resolved one, We’ve won we more coming to successes patent and believe well. walked at progressing patent We our every patent or I should patent quite be litigation one is pretty have
nothing the done in office. courtroom in patent but So, the and we’ve win
to the that point to hope expect high I talked us. and NASCAR well. platform the that continue So, for XXXX. that and need in relationship, but and as management metadata audio and combine we basically the where automatic a a fleetvu.com, it asset That’s way immense monitoring we What cloud-based XXXX, driver as opportunities and recognized commercial lot The is video that monetize VuLink about affiliations there’s information tracking well of capabilities, our to industry. the give do that. that to with with are is software We It’s presents the that have, -- upon very video do a the we the well. as providers we marry does activation few you commercial capabilities especially leader. that and leader providers do the with can that
So, XXXX, we leader our full-year on and XXXX. that home will have a reductions already that for is that believe results huge are early recognized come that Obviously, late SG&A XXXX we catalyst XXXX. the taken as and impact and we’ve in a in really XXXX will a
talked about that be to in we to just and file both have we will the happen will continue talked Here’s later large will shortly. the for The product appealing Hopefully, monetize the reasons. WatchGuard. litigation on protection be patent patent. customers, against patent to believe that be We for in We and very VuLink things that need We to leapfrog Axon that some obvious introduced We new that continuing winning on competitors the we that. about future technology will catalysts. we’ll expect and will XXXX. news platform
big both NASCAR international are close some contracts, just well on generally. related commercial as We as and
commercially good of We event job have FleetVU done and DVM-XXX recorder. a marketing our
out very about opportunities So, large there. we excited that are some are
believe XXXX there’s improve stock into have back in that catapult about But, profitability the the was and So happen happened hopefully Company will catalysts doubt that by it. will difficult large, we term. no year, and near the and a price Stan?