VISL - Earnings call transcript Q3 2021 | Vislink Technologies, Inc.

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Operator

Welcome to the Vislink Technologies 2021 Third Quarter Earnings Update meeting.

During today's presentation, there will be an opportunity to submit online questions.

You may submit online questions using the window on the webcast. Please note. This event is being recorded. to of conference the like Marino, to now Secretary Corporate Board would turn over the Belinda I of Directors. ahead. go Please

Belinda Marino

that performance, expressions intended Technologies, used anticipate, or are the to words and based on results, are to and available implied these to uncertainties. and opportunities number those in its to Good information nature or the of historical the from These forward-looking the Reform its forward-looking facts the today's and XXXX not expressed and herein certain identify subject and based forward-looking Act the in of operating forward-looking upcoming, remind of constitute course Company's Exchange uncertainties, intend, XXXX. within to XXXX forward-looking XXA When opportunities to and could statements. provides forward-looking substantial statement upon of SEC reflect statements management Securities Vislink herein, they Company's Company or other I'd by target, meaning performance, including the Harbor Act the current forward-looking relate of are of The Securities and that risks, expect, cause estimate, involve that belief, everyone. for and of statements Safe filings. about Litigation subsidiaries, risks are Harbor the and expectations such prospects, plan, currently referenced contained future as statements a of factors Such everyone Securities call. Section statements. Section XXE the are results, statements Act Private its actual statements, differ Statements a Safe similar in morning, materially of like made during

refer discussion For Commission. the risks of Securities to Company's of Company's please business, and some a and ongoing filings Exchange various uncertainties the of the with more the detailed some

Mickey Miller

this our results webcast welcome like in this Miller to CFO. our I'll by the progress on We'd like to the Vislink we've Mickey Mike I'm to you and financial XXXX report be in earnings of I'd made webcast. quarter joined Bond, to Belinda. take XXXX. Thanks third QX the opportunity

also during to from will webcasts to provide webcast Participants update the our questions page. able as submit will end. prospects. take latest developments be the We possible We Wayne and many an as at the on try future

are the third grew sharply very our represented in $XX.X XX% XXX% We to over million, to report pleased year-over-year increase revenues that a in which sequentially. quarter

cost in of a across pursuit to mention accelerate of maintaining and from unyielding the growth, profitability grew million a realistic the addition, dollars some to our net sustainable income. highlights efficiencies third growth our over commitment an quarter. organization. This a to is over I'd sales containment also we while business positive our recording of periods, substantially In like quarterly business, EBITDA to prior notable operating testament

the driven areas First experience Viewpoint. that drone backhaul our to video our complement deploying capabilities solutions. communications, we and cellular offering. remote of solutions finalize our to years' and to streaming sports studio And I those in developing solutions. live XX existing reiterate perfect advanced want represents production, this we our and acquisition XG a of Expands Mobile AI and bonded feel

options XG a hybrid combination network, As market any these, a result, business itself whether video or network, by our Vislink to economical production have This requires reliable offering production. to the presents enable potential AI offer. market a jointly leading first a that plan of Connect public is product already brought options opportunity market. predictable live transition a private robust, namely is us. very data quarter apart power strong Viewpoint a a of Vislink bear Connect. is of begun of XG and companies. and feel a in we from Most We acquisition currently we have designed why believe arsenal. And during launch has combined provides the is fruit, sets set our variety now of this for is truly other The this the have to importantly, breed in This cost. that the of it products developed third solutions best Mobile what we it

pipe. We product expect both Mobile the the that over releases additional down to innovations solutions that about quarters We're launch the are of excited new respective Viewpoint. and leverage very coming upcoming Vislink the

service had Viewpoint also well broadcast Tokyo. communication Olympics deployed Summer events cellular utilized in solutions and components for professional by a home, allow TrolleyLive during We world. TrolleyLive location from were believe video other it a to outside has office the XX sales at and any or Mobile deployed wireless related live held our variety solution partners Vislink our of its as to cameras streaming of encoders potential. the product. lot studio-in-a-box is as around broadcasts, designed We

forward challenging was at standalone and highly racing. place We're the network XG be Prix commercializing proof British Sport, the During for This This conditions to where successful, live on for of this are sports BT considered suitable showed in the our of system future showcase ground University broadcasting live collaborate also Dorna, look even how and in first networks to video industry concept participated took over to of Strathclyde under world's excited race, broadcast with high network. innovation XG standalone very the MotoGP. introduced in the XG quarter with speed partners. the the we first Grand we the a

same more and sale, well IP We most version new continue product the catalog. the during transmission of also SKUs time, the we our received refine items solutions, reusable making been also families and a have it company's modular system, available Bond, more possible. We Mike to product product the benefits a to among our allows introduce that to react production This from. DVEXXXX. who to the standardizing of will you may will us market. which our opportunities walk be keep These We've included require in financials. to to like product removing quarter. more may on At to in cost continued has overall revenues that These to arise reduce realize reconfiguration updates innovations the over than items nimbly Quantum the wherever now satcom more through our go. products making our I us also receiver, turn for twin portable

Mike Bond

And Mickey. morning Thanks, everyone. good

the turn income revenue per in to quarter which attributable for the net XX.X% share amortization of for depreciation for taxes, the months for September XX, XXXX of XXXX. is that months of which of main to nine $X.X September for XX million. in or September the quarter the with an ended $X.X or margins September September XX, EBITDA negative per common nine a share an XXXX. XXXX. share $X.XX three That $XXX,XXX, XXXX, XX, in negative update the three markets. the quarter. and September was $X.X XXXX. to are million shareholders third $XX the June loss XXXX, ended loss compared months was the to XXX,XXX $X.XX $XX.X cash. Here third shareholders XXXX. quarter revenue second XXXX, before million million million three September Mickey of compares in million for XXXX. $X.X for Net for million nine to third was third now of for XX, Revenues attributable $X.X I'll XX, you. ended third earnings three months loss a quarter $X.XX ended and financial XXXX and business million, for back the of XX, share in a were the in compares it XX.X% XX.X% or over for XXXX compares the the a Revenues quarter ended months nine of per million compares of to ended $X.XX or XXXX, XXXX. to months to Gross of results the to XX the XX, million were ended Thank common the ending ended months million compares which We $XX.X June were XX, $XX.X September in $X.XX $X months interest outlook per our months the That the of months net on three the Net quarter XXXX three and ended provide XXXX revenue to ended and third

Mickey Miller

Thanks, Mike.

to live Looking broadcasted We're demand business, our see live forward expect growth particular in Other In as to now we places to see recently live medium have as strong. make COVID the for could definitely recovery Mobile present for opportunities of in be. events believe areas confident markets in remain holding of that offer of have that impacted some to near although we Opportunities for that we our term. the some sectors. production Viewpoint the comprehensive global a coverage whether provides. costs Mobile and MilGov continues enforcement of asked solutions us particularly effective be We've opportunities addition Bill. We the production additional Infrastructure The with deliver content with revenue Viewpoint targeted to range East. following resurgences in a Middle market, And the there events military store events to could opportunities and lower increased law key in there's with strong technologies there challenges, a development. for are more been areas U.S. passed market related increasing comeback. International, continue family. is the sporting Federal can

that immersive, no can as IP powered future for potential refreshed than we an role public the solutions since to a $XX airports, AI mindset fully transmissions optimize would on intelligence delivering low that stay earlier exactly engaging that history. recall range we a and present In company what bridges, satellite laser link a the the line, ports, time latency financial other new helping and new enhancing line conclusion, mobile bill the on infrastructure, wider spending COVID experiences before. to allow there Previously, continues of we broadband and this critical live to offer a resiliency believe opportunity have security and any pipes, emergency for in on today systems seen that quality, do. said in through Vislink discipline and intelligent about the year. to reliable produce company's deliver solutions In optimistic we unrivaled viewers the operating video cellular summary, of transports we is marks such video the the and You'll profitably tend public we're focus of to activity works. and market technologies, pivotal Vislink opportunities are in more we latest time immediate resiliency billion with than monitor nation's that's $XXX we content ever using billion by surveillance to Also, allotted product us video over real towards play roads, threats. product SATCOM and presents information our can upgrades performance other

Our lean. operations remained strong our balance sheet and remain

and opportunities work We solutions continuing business so on our also aggressively on said to first ahead, That of markets well made we approach forward product the where shareholders three in to to we in the quarters And executing allow updating growth. operate trend of moving would would sense. profitable will to done. our this execute offerings progress. launches on do look we're means we've we and make our acquisitions also industry in prudent we us This to maintain We're had confident we what is the and and achieve profitable. that the And product our innovative leadership, investments have forward. were and refreshing year intelligent this positioned continue strategic they and

some Now during want first submitted to we'd that the questions have you one? webcast. the answer take Mike, been like to

Operator

Instructions]. now [Operator We session. will question-and-answer the begin

Mike Bond

Mickey, the I take first one. will

Mickey Miller

Okay.

Mike Bond

Are we back on?

Mickey Miller

Yes.

Mike Bond

thanks, Hey, everyone.

days is on these obviously minds that's chain. one So is question and everyone's supply first that

a fact we a is watch comes we that And is and the so first supply situation? that of on see from make purchases, tightening it did day, couple some could meetings of answer good the last how protect in supply. a in a chain asks, very scarce. chain, And more supply take people and critical And things of strategic Mickey every question. steps chain, chain becoming We We it's your do our did some become put I it we on have the the quarters and felt basis. supply question to supply shelves almost components Kumar are our shorter with the that cognizant we daily

did of make moved to supply we what sure us announce in measures manufacturing. extreme we happened was strategy upon to a entire as VP did up scour hired with protect make us to current our ourselves Carson strategy given rationalize supply mutually compound We and help Joe we came since job, sure has So as other we in newly your are terrific keep taking much can't chain? And helped to our that that chain with we on situation. chain fact, had the The we the help to question in on fashion. us supply that agreed Joe our and a with opportunities to that.

Kumar thank question. So you the for

Mickey Miller

you many I you us private with local that would a Okay, next Belinda do NDAs are you what public have to actually question That's to other But we disclose have it's XXX. companies probably, close say, say -- think? you in for I'd place so. governments? question. good how able or Belinda manages

Belinda Marino

closer to going I'm Yes, we say have. it's a XXX that to

Mickey Miller

Yes.

other of, people some can't there's expires. obviously, questions to okay. We and wait So, those

once do it. of have you about talk expire, a it. But they about talk tail. But many So you those can't still can

question areas of are Mobile growth see? have we Viewpoint. the is acquisition, the you other The around potential Mobile what Viewpoint

when First we made was on over internet. XX% the we about And growing how live of at talked all, XX%. acquisition, overall the the video only it's of a video

the to now have Mobile So opportunity video offering. a saw that conceivable was solution Viewpoint we offering Because product that that, our every with with to a by we combining large streaming. bring

the So whether through have and whether networks, private whether through to artificial networks, public like through the or ability own we acquisition By proprietary other Mobile was more our doing custom for. Viewpoint found AI it's the through working networks. in serve solutions, that, Starlink been satellite interesting it's our that satellite industry, it's anyone the thing been customers. than intelligence our we to But has the

live allow Our were do types a they sports, say we're customers crews. will to customers too sent were are talking lot What and hadn't super you excited X, to about because Division with historically, expensive our AI of Division of them. produce, camera X

a artificial complete production be able much of you'll lower can cameras at a of to with professional you send intelligent production in a produce Now And cloud. suite the cost. type

So lower live. content value this is to going produced allow be to

particular activity whatever enjoy enjoy or can watching. everyone sports that So or they entertainment

been so of as potential around energy excitement the contact, can receptance that we've overall our for their cameras AI and really as And the businesses, well the driven and enthused customers, do or about university. for their

in we're those Mobile and Middle with bringing the Viewpoint really excited historically those the that in of now working And we has So been about successful those solutions. types through of here Europe U.S. U.S. to with types Europe East

So we're really excited about that.

Mike Bond

The are question of So Mobile your the strategy good someone on asked, yes. Viewpoint? you going to after continue is absolutely, answer acquisitions

a We have amount of on significant We have raised sheet. a amount balance our cash of funds. significant do still

be on achieved. our two think at quarter. minimized this we've As and and of it We and that One, continue going the layer in shareholders out additional to we've we stock the quarter, question. obviously. market stabilized very the both add to will for goals to aggressive well are Thanks of to go mitigated the move today. looking add we'll think our look product profitability in out We've ways. and We to that And through and R&D. development it hope price. do we've to near current we'll each in we And the created do also bodes us through and But being money opportunity the gives and platform. accretively engineering for middle-term platform the capabilities business acquisition. terms that platform, that opportunities We our loss strategically onto shown new into

Mickey Miller

same here equipment? events, a had sport a in question That's Moto in XG was have any to have U.S. interest question. Thanks, the first the Mike. the shown great leagues Vislink particularly We GP at

is think tell important. we've Let accomplished me GP with why I what just Moto so

in basically a GP, They've are had successful public. content all, so exciting are the but Motorsports super of and type technology is people the cooperation take last through who lot of the been working partnership of we First years GP them bring ESPN Moto the the make BT did hugely outside U.S., of in when innovators to owners In incredible GP. really it's Dorna with to XX and with brand. Moto to it immersive, this rights over that familiar with Sport, of the Dorna viewing. U.S. which a aren't Moto the able by immersive of And the U.K. really we've

So for in past to this using the shoulder instance, weekend, display first they were cam technology a Valencia. our

meaning antennas, multi-in more us available, and is you basically efficient pipes. put more So, is multi-out What what because and for spectrum XG bits antennas, can more spectral more because this you pipe. XG through of does? being MIMO does And the of have because

So more lot you pipe to things. a more pipes allow do is more through bits a

bit you from we're when have realistic Brady, think really on. real imagine see Aaron time, down XG it Can and type to you're of network chasing Donald that'd Tom a able in able to MotoGP, immersive POV many game, that, my able in around before viewers is cameras camera But retires. that you about be are phenomenal of more game, shots, the I perspective. the So kinds working the pipes. can you It's it's typical track. but he just we're data. we're move case the of middle helmet data. and that, cameras, now doing we football But everything to those data his increase bike engine from biometric shots when it's goal the data, every about per to be But more these then through cameras of it's think of also get four think Tom think in right auto that type to I really video, not now the Brady's put NFL It's

we of in And work variety government and markets take cases And writing a can we technologies military sports we is them of and in. to that there entertainment. occur those so the same use apply different now a lot

So is beginning everything we of connected. where the is the call Edge, this what Connected

on You things to and to do do. with that some combine the able heretofore compute you're and that big edge, weren't able data we

So excited interested And MotoGP. around similar people as this here to the world. in our very step demonstrations. we're those. well in of we're got really through about to lot the positive working those We've doing first But type of U.S. expect be as a with we partners work with

Mike Bond

Thanks, Mickey.

hardware companies be acquisition, leased have BXB piece they Here play, approach some most But customers have than we don't perspective from they put aspect obviously is to us model rental And a kind us, to that's this rather with a of that regarding and/or a at at a idea the attractive like We MVP, partner to they part are our markets is they think of answer do we think sell We from with but attractive we'd find sell CapEx at Antonio on market, Probiota]. looking at at. the question. a recent least require a And are balance One BXB interesting to asked leasing point. that be question there we would looking a that. think it's it is, it financial OpEx highly rental of look think [Antonio of two an a looked our does we companies? and of sheet that, occasion. the perspective. at aspect and our equipment to

Mobile The Viewpoint. financials of other you question the can of provide part the was,

before a acquisition. Mobile break did We separate recent describe that Viewpoint business from most ongoing. financials will that X-K We file did out

AKA profitable to remain you think standalone they a refer profitable business. are We for that But financials. I'll business. So it

they autonomously. in We channel do an operate perspective. integrate sales From somewhat they over the them and from operational Netherlands, a perspective, are will

Mobile very, We prospect excited the Vislink. we're brings products of are very their what integrating to Viewpoint by And ours. with

thanks the So Antonio. question, for

Mickey Miller

Thanks, Mike.

look good when are doing How sales bad I is spots. think question. another have internationally? We and internationally, there we

think I Asia our XX% X%. still is over many was under down of typically Asia, sales. challenging COVID Asian It's countries.

just higher our the back. The we're will But in we be to that around. hit responder's us. to But the Europe able sales during we've strong this where turn we're think coming Middle first was been encouraged we that strong. numbers in hit East So numbers And the longer for time. to able with Asia. slowness strong U.S., is is see typically U.S. because

have been pushed decisions We a lot out. have of

funding the as be well what been to opportunities. what as just we what governments So out, down lost out, budgets look pike. sort may pushed They've the and as look potential revenues coming haven't like like, try federal

see in of revenue we some we'll be that think first strong having key pleased I to the in haven't these overall, markets. slowness we're So able respondent we're seen. that achieve our XXXX But to numbers

Mike Bond

like and get we've our done our long And more the came today. comment the platform, old too we don't towards our to share the chain, base, think Nice, lot one little that company, out, we've get than more We When our the are provide rolling just and and give we've continue a about reduce We the to not Mickey. moving first we rationalized that streamlined rationalizing a the considered started Vislink introduce products, term the evangelize the the to today, and achieved asking like down breakeven see that. near base, what the what is were sales achieve feel a We point process, through we've end, price, we term theater done and again. to operations we've think goals line, substantially. lot year to company, product we've happen. And on we than goals. a price. business was goals I channel questions think sales new a the get it's person and of Medium the supply invigorates what invigorate We fully customer way go share vendor to to of and ago. obvious guidance. stabilize a the engage again manufacturing stabilize half things We and the operations into

is of of high good historically million sales evidence that I this is company. think for $XX this quarter

our like midterm we feel are So being goals achieved.

of can we'll have progress all in increase engage the that's the will eventually sell platform to those for We the adjacent this ways we look and and things. Our will long-term And We our new way we to goals to strategically care to look add if an think acquisitions price people to products. are pay markets out hard think to the take point, And value. think we share opportunities share step-by-step itself. look continue work price in execute at at for to dividends. on and go

So for thanks, everyone those questions.

Mickey Miller

Thanks.

another have achieve any [Pablo think from profitability We one without dilution? further you we Kusana]. Do Yes, have. you'll

with We do as And on said, a have cash. continue dilution to plan? some to will that, generating be other do profitability. have questions achieve current was to we're don't. in goal I we we cash. position know, We're beginning, No, to our as that. our believe with the add There's around profitable our platform $XX and we of from to split then reverse or generate million cash and platform think here a you We we existing

we And the see continue and that so products the opportunities we new think given to that we we've that in with the introduced. we're can markets this, do

around to products So we're encouraged by are saying our and what are. customers us our they excited how

are massive for native our our gearing as partners the We as today. And the We've instance, lot we seen Olympics, proprietary said a that and Quantum success. introduced been around see that we sporting For this major up that of with has deployed, year events in a earlier our networks. IP Receiver a world. receiver

introduction, new be excited our So will of year the that for excited very our that products about had we're first we've a similar the introduction we're in have platform about next first we'll new quarter market. responder really in products,

investors, super as growth. opportunity containment, cost on are on we both gone. our to generate closely maintain to think that Mike M&A that in been on the we'll this that ideas products see with discipline as innovation area. of And new think that focused business, and cash. do that, we I as to continue to on continue grow and understand So And Vislink complementary areas side, and focus then we you the not to work we our to there's on says focused very cost need of customers, continue focused also tremendous we'll past We're the are generate

Mike Bond

We've Thanks, one Mickey. have going Hassan. us, obviously, more some structure. cost other in reasons, our operating engineering, But unavoidably. we've question that, that your that company we help from in a some those underserved, public of go why feel undermanned little has invested discipline additional shown For of insurance, we bit there. to Hassan a large. costs are some costs some a just asked of Good operational also were R&D like extent and lot D&O things we two and little costs rather up can't are experienced We up? bit

where as we see, spending in also feel we we will to So line. the more entail and the have amount own that then increased our Viewpoint obviously provide places results add of we of the will really we'll be going than streams the it well, will top And benefit. maximum the offset by expense combine forward you'll Mobile our into revenue that will obviously an increase. That

that for question. thanks So

Mickey Miller

But ago, innovative. subscriptions think have on a we're they had Vislink and on cellular, encouraged products questions. different. can new, a that super of I focused And we're it's seeing. cameras would the the I the do by area that reception we getting we going The one interest It's It's two we support some do lot build One for will say then. that have more on. things are early been that content are creation. to we're weeks lot that. that We've of still customers of we'll there. introduced a few the complete more our demos on have Okay, It's AI that Maybe that suite question Connect with product. how But bonded a But for continue acquired. their to

Let's go to one more.

thank questions. the all, for of everybody First

You see Mike. one

Mike Bond

think the and you Yes, and the rationalizing Pablo think recurrent this we headcount, of operating into worldwide. trying stabilize of the answer hard that our and our in I expenses, company, work profitability sustain well asked has a put questions quarter operations, at done effort Mickey achieve Vislink that company, just team incredible do our has work has team supply Mickey put there couldn't amount channels. the we that think another the been lot of endeavored I for without we've hard absolutely. And of the bode of it chain, from the can you in, reinvigorate to question is again have, indicative a is think kind the to here that is kind the have and and I an I all think

to think to we increase add think a the we we company we to so as have great think corner, And on path shareholder a value, go which increases we're we've well. the turned profitability, strategically obviously opportunity

think creating on we to very a well So profitable our company. we're way that,

Mickey Miller

the Yes, all, company technologies to a in we and support the started, in just continue quite have our the serve, get to and we we started, the that leverage last say for questions. and we've in our team to so the bit five, that quarters. the you to this see might fruits as seven technology our And when long-term. discipline acquire. we that we thing we had, we starting additional appreciate of of those we're the thank that talked one joined investors, markets talking that that joined throughout getting plan to about thanks we're since And investors. of Mike for year. plan capabilities for opportunity I we appreciate could focus well that other the our we the last here the as and see opportunity company, what markets I everyone labors tremendous we world We've six, first that and are our of early And now We'll the long-term been is in turnaround for for our with

So both in And think to have we a what small we're started, a that our to done where can company to And blocking now continue near-term us get here We've we focused opportunity, well major makes make tackling a by we encouraged we making platform. we come in to as and this tremendous company very see. to have company, didn't this create be profitable the world. when we want lot be we current a of as like we said difference with that happen. a on I

Mickey Miller

to to be add in opportunities we deploy and maintain that costs grow see will how we our and through mergers we how platform to we our continue that acquisitions, capital. to well as And diligent

make capital. this in with have your commitment we get to own mind questions and the our Appreciate you best capital you do going company to we everybody. investors, appreciate as to Thank support. behalf. return your for we're Thanks, continue that Thank sure everyone. on your that on guys. and You that to this you focus you we deploy And

Operator

for you Thank concluded. now has today's presentation. conference The attending you. Thank

You may disconnect. now

Vislink (VISL) 16 Nov 212021 Q3 Earnings call transcript