VISL - Earnings call transcript Q1 2022 | Vislink Technologies, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

I’d like to remind everyone of the Safe Harbor statement referenced in the SEC filings. The Private Securities Litigation Reform Act of 1995 provides a Safe Harbor for certain forward-looking statements, including statements made during the course of today’s call. Statements contained herein that are not based upon current or historical facts are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. When used herein, the words anticipate, believe, estimate, upcoming, plan, target, intend and expect and similar expressions as they relate to Vislink Technologies, its subsidiaries or its management are intended to identify such forward-looking statements. cause based subject currently risks, to to other that are Company to uncertainties differ statements results, those factors are actual forward-looking expressed and a could implied materially forward-looking from on and in available information the and performance these These prospects Company’s or opportunities by the number of statements.

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

Tyler Kern

CEO Hello, here. everyone provide the at CFO here Vislink this Call. Mickey the me Earnings thanks and today. Gentlemen, I'll for QX Vislink. joining the we insights gently the Kern, be much Mike and welcome that Bond, ship to to I'm is expertise Tyler the me so and But joining need steering Miller,

Mickey Miller

Excellent.

and doing this time do to Second it. format, very we're excited

Tyler Kern

have a you here here you are really guys and today, you like, excited I'm guys in were studio be you're pond, were what And to. to today. up it with the here, us me, tell just to was Well, you're but over and and where this great, you last of right part across time

Mickey Miller

marketing England, Colchester, here sales Yes, contingent day facilities, some Fahrenheit. one we operations functions. we're of as sunny United get It's degrees beautiful, in engineering facility here and at of our and in here, our It's a Kingdom. our largest XX as well

here location. So on lovely business nice. our it's a very And campus, we're that

Tyler Kern

a have for want lot to. busy sound to that you guys it's for But a Well, in the ever That that or a of that sunny. that nice been us a first I've you the there you not lot know does UK. England happy because updates quarter any day share, I and been of and Warm you're joining like I'm known year.

updates and us to that things some me have the some to of on. you been through it of over So guys going the turn walk let

Mickey Miller

and Tyler. then We're thanks, update the a to quick get Yes, numbers. going to give

First of welcome. with here us happy so you're We're all, today. that

Bruno greatest Hermes, As is our our with over and you can with partner, ABS. recent with solutions to this so the customer continue with NAB XX the closely in of foreground ours work happy Randy Mars some we Grammys we're a years, that NAB. for can see, events.

bringing immediate, through in streets, and So mission, sports city The it's it's more clear just most of our of entertainment, entertainment is we've serve, a year very the and XX%. whether or piece, the premier more a we and immersive more sports under events last video or as you're it's brought intelligent. theater large is gone operations, aware in as markets

the market globally. was this year. then to the continue On we our about a US customers satellite last side, we business, Gulf middle revenue back third And coming much our to Army, in direct first see responder support of year, more volume legacy

Mike Bond

XXXX. a for quarter So of of first key couple the highlights

year. the off, First quarter, about quarter first of increased last revenues over XX%

sales, we supply some components. getting, of coming quarter components And pandemic. difficulty $X.X If we of difficult was you It sourcing were way year, million. a did have those related This million along and key did some us. about of we remember the out year, we $X.X our to some did last the for chain, of

So supply due delayed revenue $X the million we $X.X of we to faced. was million of that to anywhere challenges some that about estimate chain from

the Again, the markets are are increasing segment we up going will for key in pandemic. impacted quarter. comeback where indicator quarter. now went year. of rest that, strong in XX% this live obviously, by production severely And up the hopefully they of market production that's a And we're our first into a this live going. the And was Our bookings great COVID think seeing the continue

the quarter about cash. in ended we million $XX with So

about of we the the total If million in operational of about $X.X that pure $XX of was of about end million used of most had million And balance about bolster cash $X.X you was the year. sheet. the at specifically, million $X used in remember, to remainder it used And losses. used just in inventory. year we But it, last we

we and this to probably sure answer we we to as on you're the things, starting memory, time certain book that put responsive on to see in did two ship our recent first components for we're issue. make actually much more we and is for that as finished to the the also And goods shelf, insulating to are supply be increase. inventory So to ourselves key chain increased building building market possible

feel customers ability components first we need about to very the two, So respond to that the to good immediate to of respond our and solution. shortage an

to technology Star NBA were events So interesting Winter Super game and And you we a in world game, back Start of NFL did quarter. in of NHL All first this It some terms all think it involved things was the do the in Bowl, Olympics. of if the really we delivering was couple those. All

the our area. also have Football We Champion and Series League Premier in Football in A European equipment here

and in the equipment, this, Eurovision sure Song involved the familiar great Country well. We most Academy is Awards. In Awards, video covered this that I'm our with the called as Music program also equipment are of the Contest. you Grammy And Awards our

Mickey Miller

XX% to Hai calls, over about on new AeroLink, incredible we be had we've that. in year. March. year, Heli-Expo key revenue our previous is As was products we've And talked over announced that an year, last to of introduced at last this XX% innovation response we expect number

it's multiple a multi COFDM for broadcast AeroLink proprietary news have solution customers. up is, Mesh and what demos provides XG responder first set both that We downlinks and

And products part of classic to we've our mobile multi Our Stellar focused or was content be be to can large Mobile camera network. that finally, viewpoint Matrix, product. Link have, their we've customers our all devices devices, a OS two our tier tier that the three our And our Cam was every on solution devices, screen of part quite and manages of solution which is bit integrated visit manage Viewpoint introduced. whether saw on entire which response one that we complete they're to

Mike Bond

financial here's updates So additional I incurred and that we too some operating went far. this we quarter. hope

Mickey Miller

bringing MilGov more about automation big with and look V we producer, or our of pilot cover Okay, on and side, the make when a content from products, we're it's automation is any we operative event So more we How can be that IQ Yes, think you it's the taking overall whether of lower quickly. production things decisions content, or live to help that or the automation. so I today, whether market, be able a to wing, do piece our the images, fixed content ground efficiently? know is you our drones, able word again, those. as is it's can more sports business. when to from acquire of efficiency tiers huge monetize efficiently? at market What the our about at capture what helicopters, offering to more How and customers ability it's to piece on look of monetize or

decisions amounts and is of massive you effectively operation. and how the content and theater of distributed, to created in captured automate then that So make the that

and emergency large crowd cases focus, a that's support, control, or those riot response, are disaster So in like use surveillance. where

Mike Bond

I'll some take highlights. now the you through of financial So

I to think need a skipped highlights. we we to financial slide back go

Tyler Kern

mentioned you we to and talk So specific what make sure here? comes to that things it when want financial highlights, Mike, about

Mike Bond

sure. Yes,

and We highlights have operational have spec financial for a we our quarter. the a slide that covers file, slide

like very more margin than in gross MVP take charge where to of about first out, you about amortization that to last acquisition. we our first When basis you That's to quarter. XX% when margins margin subtract is compares take think of did XX% that our So XX% XX% for stay. up were we step year. in gross for and which And a were we the quarter the good. base, we'd And a gross

The share maintained a to XXXX, for interest, So three negative negative taxes, we've before increase to or million $X.X $X.XX million QX compares we've for common That $X.X had of months that's the the share. million a was a XX, XX The $X.XX attributable loss ended to some loss shareholders XXXX. for net depreciation about was first a and the ended amortization, our months $X.X in March three quarter. margins earnings and EBITDA, March QX $X.X XXXX. a or of million, compared significant net of

the We suppliers. of significantly also over vet to our some add and operational quarter, we efficiencies realized base did

order in this have shortages mitigate to at as we chain issue, XX that think additional because that's suppliers. to important need experiencing. key over up supply through and of increase some this of we're go sources And supply we we're I the point, to

operations us it we that that any went effects We Jersey, but floor, Kingdom pretty readily. and we and excited that the Hackettstown, a factory forward. feel of improved think it Olive, now And be efficient. everyone's we It's substantially of We about and New as did US in of that'll So more United going aspects the operation. New our there. more facility. to good we help facility, the bolster looks our that. against We Jersey, done it'll as supply issue operate we there brand changed we've increase We our it, operational improve accommodates smaller our chain from complete new, facility workflows did move think that Mount efficiency us And and did made beautiful, our well. to

and there to commencing here function. and our and improve that are customer move facility our care to So Colchester, we're and we and for a repair maintenance create our Luton prime going we maintenance. and And upgrade take repair it service that our new in And function. and relocate to that'll facility think from

thoughts. you some investment our So M&A I'll run through of

actively options. we still pursuing and are investigating So M&A

we MVP that of small And We year. very found We the But different that think for reasons. find number the it's just we a that throughout have think been we important we're opportunities. in a company. right doing

bottom terms contribute immediately, now product almost our of doing we're go-to-market portfolio. us so that to for organizations and line help And and in that we're our looking can the

and looking could try our closed that is and to based We're automated we're recognition goal for are technology. to video anywhere as million at looking they million. that. The will other $XX capabilities between And So sectors continue size we deal XXXX, augment we today. a at deal announced are that and various our have is $XX AI looking in

what those all obviously functions command and computers, that into at and by US for utilized looking called is stands technology, military are to combine CXISR, as intelligence, command. We of central the surveillance which is control, initiative one an communications,

would that production. offers help us automated automation, looking will, process we're And at different live and looking you also at digital respect. if that are technologies our there's in push We forward solutions or

Mickey Miller

this and the to we're our first the owners are X,XXX Hai in throughout And on shows had event. those for we I major many customers won was are response. later earlier, IQ XX,XXX really event. bringing We from NAB Asia we defense. again, all had civil It people that, first the an pleased large Later IBC quarter, safety then our we'll named That will will then wing to in live we're producers and that your one open happening Amsterdam. new And be That's some it CAB a people large happening. by broadcast is fall. solutions AI Qatar. was Vegas. Middle world. I So unmanned safety that around talked am and and tomorrow leads a customers Association and We've next Las June finalize video drone largest which we known MILIPOL, our product had to that's of Broadcasters. it. have week We're years. tomorrow in solution yet generated focused the Dubai is with And in two able the Singapore, public helicopters, in and introduced that fixed with Asia, a that followed an broadcasters and Texas drones, the events, be part streaming were about We'll broadcast event the two counterterrorism fixed SAT about major this and and of aviation introduce both military. real that lot civil be the content up and networks, in in which public NAB, these event the the to all Heli-Expo, be make public product about Q&A. for we larger producer, sports XXXX Reno, AppsCon, happen we're got starting that's to in a it over of best international incredible week on then NCAA about event working behind MILIPOL will magazine, again, content in And degree. of And fantastic major safety, XXXX demos following years, wing AeroLink of registered, Qatar now large we'll was thrilled and was East again, today up In defense, market. be September With over technologies. which we've second the XXX the we events engage on

Operator

[Operator Instructions]

Tyler Kern

going this back, welcome here all to point mentioned, Happy right, everyone. Q&A the yes, Mickey do with here you in program. All like and at we're have us to some

questions question. right with send you answer a your of t-shirt, a If hand fun swag, like something some you choose function Vislink to we'll screen, So us the have we the there on of drop side and one run that. it, your chat over

questions So chat. to that have be the need. in and you make know there there sure are you that We that asking over information questions

So a asks, with efforts Lord, are Mickey, from here at ask question the new kick how toss me over things there. over contracts? And your landing this to make let you. we off sure to will who Jade

Mickey Miller

working of we've seeing been we've with around. as Thanks, now, activity customers world to we're pleased on the that more in Tyler. right ever on customers really events digital engage quote, been and we've working marketing, also history have the than is then live bringing in and What's interesting the And we our come been COVID company. potential how

first see content, amounts what So and slowness up, opportunities, live activity a technology of from we'll it's of challenges understanding very with seeing opportunities evolve. are solve spending the military, responder seen a finally, that them. a market incredible lot spending year, going evident our first with on deep on their then on interest around around saw responder customers, trying of the activity back, how the on we unique efforts. we're is there's And these Obviously, are And seeing possibly, types the side, last types of one, of consuming concern, help content, tremendous. then and consumer AeroLink the the seeing We're on of time police the to is activity kind the of seeing working things production, discretionary problems content. income the whether live we can best we've all side, will rates but are what not as only We're two traditional production we're amount around coding on that but come bring, that. tremendous or

Tyler Kern

would know Rutherford to and Excellent stuff. to here future. the breakeven John you in like expect profitable be when

Mike Bond

question. great a That's

of we slightly, late as business we’ve produce And been did We've we a do this breakeven last profit speak profitable. workflows. And facilities. our over acquisition we've that of Viewpoint. we this work think optimize one quarter. can the so some to think Mickey of do and to consolidated this two a kind And that frankly, think the We line done going changed optimized Mobile slight done our the teams, of go-to-market, We I successful had we're be lot year. loss the we have year, and well. to operations years with optimized that and our year. model. We've lot to here a We've We've above

supply to there's But to And reasons do that have the the government good believe the kinds some Mickey all said, ability we'll do fact ever. material be to live did shortages some that of chain returning like we in to market. our comeback event as a challenges. think we of the with in had think is see it in sell quarters, market We military we coming profitability as of

So a we at have we good profitable share. think being shot

Tyler Kern

stuff. Excellent

we're it's seeing as question Is here. of So got you're something that well? world. next bit increase you the something that that seeing Mickey? that Yes, costs? component we in quite around seeing a Are

Mickey Miller

IP, lot around our our company, put a chip. and being of rides Yes, on semiconductors. software you that tech in IC Tyler, a know, we a systems have we particularly on as And firmware

we to with pass seen increase many to And chain we've that lines, our we've do responding increases, to see what able May. product we ourselves, those so we'll are monitor had increases things supply are And a standpoint, across an instituted in the product on, markets. increases continue environment. And from how in we

Tyler Kern

orders exhibited see can saw from you the in been all When where have that events said. future. to got here Vislink of the all that expect the we We guys shows at at the leads big going and at? Well realized big you're you

when expect seeing to of So start some can orders? we those

Mike Bond

interesting. said, think XXX had good had this opportunity leads experience and I from over such good that we most generated recent we at immediately. almost alone. Yes, NAB We a and a show event such response It's that Mickey had as

as canvassing lot events be various scheduled, we're at the mentioned, So of events. kind we of world to going have Mickey a these

think it's of this -- to we gain as momentum think through we So and kind will we'll almost continue the we year. snowball move immediate,

Tyler Kern

right are Mickey, of stuff. to over Great you swing parts Mike. back the Vislink’s let's business now? going fastest which

Mickey Miller

Well, world, at, now obviously we when saw in people the order league, large increase base the driven audiences every live the around over there And when consuming across like content. in stands, saw back, are by name it around I numbers live you think that's a a the you events production, you this look XX%. coming major

could you conceive content. being not one happening and two the but it, you as tier tier consumed see also at it And of schooner only now events, see premier everything created, we so events, name we events, is

the come all as events. types one see of premier that increase, tier the types events we'll additional appetite of opportunities as of but types and also we for So content those around opportunity back, both content those see an

Tyler Kern

a great question. you in much time? thank being utilized one equipment any for and Zack And this stuff. have question. so this it's with you in a Yes, at Kerwin Zack, really really good pertinent Ukraine Do one. chimes a

Mike Bond

supply good very effort Zack. question, are the and military. careful Yes, We with we But We're crisis Ukrainian how tune we to much the in do. that. discuss the

be can if made of decision we So Mickey we we that. part I've the a do will can and that be helpful.

Tyler Kern

for your you shifted appreciate stick Yes, put, COVID forward? and Has very that. rate revenue well with let's Mike, this. run orders

Mike Bond

It deciding, that in of Mickey they put we on had some back coming events, what down, back the we live year, places been of that a customers live our continually But feel and the in and last shut their of of a Asia. we've seeing equipment slightly, a saying the the significant in online, to are and COVID customer production again, see a more, seen the therefore lot that pandemic need seeing type getting, mostly responses shows behind is upgrading has are in of and there portfolio we're and provide repertoire that have business we've that effect that necessity their big we're attended, come producers the as content, that said, the people order adding to us and are substantially, has pandemic they're for immersive still content. that even parts more some world that of

aspects transporting emphasis world it. on we video various seeing you it responder wirelessly that event. also that this an and of that monetize standing neatly where and and first So surveillance military things And there's to all live can an in area very both of all the forms and that and off observation we're and things, fit or capturing we're utilize again, into do over the it spending shapes seeing idea

the to we world as from of really various So very going pandemic, to we're be we increased and positioned well comes the to benefit think where there's business activity. all increased the think out areas

Mickey Miller

the allow that production. way. in largest is, it And think take is their riding internet the the and their that growth that's I to over it take case people on a content, we're in put of a and whatever tailwind reliable Yes, live internet video, provide live services solutions to component

Tyler Kern

Good Good stuff, guys. stuff.

So the people that is next and have lot one big of a something asked. question a

relationship So Mickey, this. Starlink? Can discuss you I'll with come Vislink’s to with you

Mickey Miller

casting can get we we that. say is Yes, Well, more Starlink. today was scalable

should Mobile we've air this camera, UltraLink. got, go to XG, power then connected and Viewpoint, a case, XG Starlink what as is or XG Starlink via dish. this is a whatever And is has here does, ability the then outside like, via it well as connect a you So have the Fi product over we here. It's input the to and this takes this from in which dish Wi of it's

are it about highly to when we that. a It's latency, but response get able technology So medium with that's the get you Starlink and one low work bringing also about across. of speed. the things what the in across that reliable those to in kinds response you it's we're do do send example a very not because the way, goes of a by video very that fast much a no how how to so matter to latency, But to

So Mobile focus that's it together that roof. And all one acquisition different brings on. Viewpoint, of area think these technologies the our under I by we

Tyler Kern

little here Yes, talking about absolutely. today up And let's bit a acquisition. wrap

to with with MVP back acquisition? the happy you I'll come this. Are you Mickey, So

Mickey Miller

Oh, I new a it offering product traditional One, talked as that and very happy very just multiple with complements MVP fronts. brought about, augments network COFDM acquisition our well. whole on

what to want customer now the matter video, want and So however however that medium, we can go do it. we analyze can transport say, to no you to video, every you

the access thing Mobile half tremendous. been our Viewpoint that Second over on been and the technology tremendous set with have, that of a the three the been for that years. combined customer AI customers bear working to a we is Bringing current has has that in to we've that

He's team of leadership heads our who that. is personnel. So the is a on team. senior we're senior team thing up our by marketing JD, and senior It's leadership our have we Charlotte, third Michel the team. Bais. sales great leadership head happy about And really is a that led

technology to build will with product, foundation So area, they've talent, future. and across had the a a made every massive for Vislink be on and contribution which we

Tyler Kern

Mike, when then, you So next going make acquisition? to your are

Mike Bond

question. like yesterday. have made to We Great it

-- we're very but So we're careful.

We've tremendous and feel of we, unique as throughout a and great something MVP, and Mickey that similar And we capability We that. make with that both got say But we've helps And to Mickey complements lot vetting market. pretty mistake augments thing we team, line we do well. year. a we I that line here. product, we are got done forward great This one that going think year, continue the we're opportunities. thought adds really entree top this and can't on and get, we us into a it last bottom to for something right, to our well obviously did as to the is looking

frankly, vet looking through we're us way our could in be for expanded it kind spread a again, to we are ways. job investment me much careful, have opportunity even us to the want of last come and banking, helping of have an than without banking, So lot equity year more he's aggressive door, him. we out going And very private but for one, diligently. in added is the that's team, through world a And everyone working just we've we individual to know,

share everybody excited the coming with confident. that news fact in we're we're good So quarters. by pretty we'll we the have to And very think some

Tyler Kern

the could. to And appreciate got many run We tried here questions that we we through from today. of audience as the we all as

Mike leave to wrap share So before up any think our you is important want anything final for Mickey, to we know? or you this today audience important and to thoughts, them that with you

Mickey Miller

future built we operate a next here, a how together these that Yes, be continue very solutions a see Tyler, and to this and the on with we that we of can customer their complement COVID, pulled acquisitions, foundation focus Vislink. the centric, to bright very providing focused our we'll fundamentals company solve customers, I that them take businesses, have problems. team we our for think, we through strong level, And to on

Mike Bond

couple growth, the work that acquisitions it's and last a good We're year’s puts same hard help hopefully and bullish and we've will Yes, company very realize experienced Mickey growth, feel well in the that question. other of confident and I things We're pretty profitable in we're, echo think grow. the future. both stead I to on I us the positioned. the all great done

Tyler Kern

Mickey throughout joining you much us Miller all things the to we things all shows, today. Bond, from with the the the the Vislink information And events, forward huge for things year, and the Mike Well, and update on giving your first able guys, Absolutely. rest to thank those look of to so that here of an share the and of today appreciate you're time and all us quarter, all this.

Mickey Miller

and get you you. Yes. returns focus on Thank we shareholders you. Thank to ways you the allocating for as view to capital best we your all the our and company, owners the owners, of best

Mike Bond

Tyler. Thanks everybody. Thanks,

Tyler Kern

joining more for it course. guys the you update sunny for of thank much we'll be everyone today much. nice enjoyed us time UK, thank and appreciate one QX from day Vislink. Very much the rest and from very well rare we future course. there, put, of We your soon you it. of very in Have appreciate back tuned this very the hope a Stay those you out these I of days, here and of in do

stay tuned for very soon. Mickey all So to and I'm we'll talk Mike, Kern but for for Tyler again one and you this that

Tyler Kern	Moderator
Mickey Miller	Chief Executive Officer
Mike Bond	Chief Financial Officer

Vislink (VISL) 17 May 222022 Q1 Earnings call transcript