VISL - Earnings call transcript Q2 2022 | Vislink Technologies, Inc.

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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

Mickey Miller

Good morning. Miller, CEO I Vislink. Bond, of Mike CFO. I am Mickey am with

We are we talk look here any the you And about having to today address questions at glad to to be forward end earnings. questions. our your QX to with of

Mike Bond

everybody. morning, Good

Mickey Miller

Aircraft, you US. throughout Tactical, Bear demonstrations and a aircraft we that mission with that video have you opportunity saw enforcement the excited together see with the partners, as working happened the about that There Diamond our in very Air special law

all as content So with protect, and them to us. for serve have happen, working as of and you know, amazing to the military pleasure content, responders technology well video, make about immediate, of first create technology live distribution as to give and and we providing creators capture owners the the intelligent immersive our that we're and defend and

Mike Bond

So we markets. three address principal

high global and the that's of about a roughly and And been history leader a news Historically, like market. half revenue entertainment. XX sports, video. of we And capture say XX%. was we'd is have last that in we're transmission our foremost year and a lead, quality First serving to year of long

government. is sector Second

in and are video the previous an had last we much base given of as invested we XX% we Again, legacy have high equipment, observation responders, surveillance business, we satellite and as serve segment governments we first XX%, government and the And embedded a to a aerospace have about again, strong different satellite is we years. responder military. first in continue for Here here, quality and quarters. for But do to leader not still market.

Mickey Miller

$X.X million, we'll for million in weren't And why to were QX that talk result. very results of first We $XX about with happy million XX% year, half. We're this fortunately, which is, but Our a company. didn't to few XXXX. last the just $X.X compared as that was the still we under goals bring from increase a in achieve did orders. We quite hit wanted

strong So of new we business. a have backlog

just for a So is us. cities in to tale of put it of kind two perspective

strong Our two as desire introduce post we year-on-year, live business, for received market the all in and And one well well that our type by the ways. intimate types of new immersive production had products content secondly, growth content, this have as that's key of by been all unique for pandemic, driven areas, marketplace.

side, responders. first government around the particularly On

last see demand are impacted that Although, funded. we those municipally police we lot being money. able do opportunity, year, and swinging a we those, or to defund large grant other opportunity And driven we in we see that a projects that the the through federal And funnel had those are to weren't for US grant, largely the convert of of activity new which pendulum way. do see

rescue. indicative responder that's with a entire fire is market. I had radio And approve local think and I of network vote that the first see opportunities in great for Dade, just the the think a of that the example to they we Miami- US upgrading

first sales market. cycle It's of responder to we that expect given we just It's opportunity. come not into lost later quarters, So that that shifted the back. it's the

we festivals, broadcast Nitrorally live growth, GP, Kentucky did Rugby, Commonwealth good Derby, time Wimbledon, Games, a UK. the on I music where first As use the sports the and case, we the triathlon Moto LA Lemon, again said area Cross and entertainment had XG Premiership Cannes,

and that. both participate of we events brought our that really technology excited about great existing lot bear. and a So in And new we're to

Mike Bond

‘XX margins MVP for in the number and have XX% of operations QX ‘XX. did was of on And QX our to based up update, did revenue XX% gross So step a in acquisition. we We take about that compares slightly been inventory in in financial second the have would about that quarter charge higher. a

or to margin. million common per a $X.X closer compares for So was loss if That of QX share loss $XXX,XXX share of would net ‘XX. per share out, per $X.X for been QX QX you $X.XX that gross shareholders ’XX, have attributable per share. to take we million XX% and net to $X.XX something of $X.XX or or XXXX

earnings the an customers So that, XX. ended Mickey still I issues organization, was were is And $XXX,XXX did operational to felt which fragmented that a the dealt interest, XXXX. our depreciation months new taxes, across EBITDA a programs basis. for three ‘XX, and months ended before $X.X amortization, dealt organization XX, and June three we compares with institute negative negative that on We a with and operational June for million.

efficiencies more So describe terms customer engagement those how operate. we deck And holistic think customer the organization and the the in we'll streamline steps, later in greater of provide of we streamlining taken operations, in creating approach. support and our we've part that'll a and

Mickey Miller

the who sales, on new be and our customers. organization. our and to in regional people Viewpoint sales now inside we now to leader of support our engineer support of more our a sales to realigned of Mobile able will globally. of realized JD, sales. in To the quick solutions sales put effort VP our head entire sales go-to-market, He have prior personnel, we've team leading our And we've sales of elaborate was to European in responsible deployed geographically be global the decisions and was go-to-market for that, this he's brought

talked pre, support to solutions and we've and that strengthened about. We've focused a focus in engineering. are engineering product with development. We have to our new able on teams We agile customers now post-sales offer markets on investments small the be specific

revenues generate year XX% talked with was about our of As our over products. last goal new we

goal over is reinvigorated we've receiver, acquisition. producer but product, that sports And XX%. whether reception acquisition, products, quantum are customers products Mobile product IQ look on our we've our you integration or had great Our announced, the our into now multiple introduction. integrated only at of completed we've by or AeroLink When year it's product our offering. not company, new is we've our the Viewpoint that the this our

Charlotte is Chief he's Product one product. our general responsible leading our Officer the who So Bais sales Michel we manager He's for development have where now was team. team Mobile one Viewpoint, of and now heads And Mobile engineering sales our from mentioned, JD as was also as management is marketing capability entire product the our marketing, well. of and leading and Viewpoint Vislink. who I

well completely, on leaders leaders to So comprise traditional as breakeven We it's the focused integrated of an out Mobile cost reduction and both Vislink as Viewpoint. team lower overall point.

we investors. said, this disappointed to we're I want even results our We make for when to line that were quarter. for disappointed deliver our sure with we're top As able with

increased overall lowered areas, efficiencies, consolidated operating implemented with models. our service efforts additional an on our expenses, reduced headcount, we've consolidated revenue some recurring operational we've operating and footprint and in So

side, product said, us. product is for as key a new development element I the On

US, bands. only the proprietary multi MESH protocol band, solution, Our agency try global We're company with globally. first COFDM, as allows solution has that only and in not tri the as opportunities AeroLink to a the military XG in the address opportunities which responder but is a us tri both and well band world

And we've for our cost well do On brings of clip which different Diamond that that's with way customers. then, our production NFT allows Tactical, law effective the very to Aircraft that side, sources Air as shown also event or it have with as put a producers successful for the about efficient been received, that Bear to revenue as enforcement way. mid introduced the a we highlight to lot of to at able NFT, on as we content very of And an for surveillance that mid partnership a able our us, a is out be LinkMatrix. be capability to we've talked to part as social, to

in excited Those introduced So about that partnership. we're were all really QX.

the and camera major public at solution. events for rugby XG game event the very XG broadcasts first to cellular private networks at low from the at show transition That's happened. the to the time network able And first which premier two CERN's, use we time in to private were the provide technology XG sporting that we quality of latency come to were which both had capability Commonwealth were networks. a a high all introduced side, to our bonded allowed that go with XG to Europe. used new Games, On XG British together wireless Commonwealth And major a countries that's

broadcast expect ready couple And can a latency, low with be XG when COFDM our to deployed to us you customers. for in complete So environments. there create capability is to solution be our that very

in So new as public we networks technology. with our whether networks both XG opportunities private opportunities see XG, or both as bonded in legacy well it's areas, with COFDM cellular our

Mike Bond

production driven the comeback So We're and we're pre-pandemic are and only levels, the pandemic. being in more the in that we that. we still a think events equipment critical. a refresh Again, is well. going to equipment the opportunities we're but our cycle and not a We production into seeing is trends. produce live lot And there's going let a tent One to see the trying down we production are remote from is a and gear production AI The driving the it be of will a well we of cost driven if event sports good. customers cost a way. tier cost continue, for a transmission lot three we that. refresh, lot think and going down business think positioned think transmission effective was driven lot by sector outlook production events, pretty lower by drive tier can more from to need of those pole our increasing, in capture sports both returning think for think production is is live capture around benefit We where we're think capabilities. we be to of that it's capability old one sitting to we technology into But

remote that is, AI proposition to end options it and content as allows system and they have. an that the distribute XG streaming to organizations powered the value multi end continues camera solution capture, our produce monetize production So incorporates and unprecedented that technologies

mill-gov think one think the side going that's as So already to, in key on the product product AeroLink. And high We've the we by received sales. into hopes opportunities other we And been drive go announced as it's that'll expect touched the we have market, the sectors. well production Mickey to I quarter. of is both next downlink on well additional

Mickey didn't any So for that they've the think We is in lagged it moved we've the quarter, right, that time. government really revenue do the lost outlook sector the get we just don't moved area again, expected. had think to has an where We out mostly last mentioned we think we it's opportunities. over

So dollars by we'll more we can of driven being use We of more seeing after seeing will refresh They delay. we that of demand is significant surveillance mode. sort customers are for One the business from technology. technology some We're capabilities. return buying some in have And government and think agencies the they a have. bigger county what buy federal or are trends. a and think we're now municipal observation couple that that this call new to opportunities a

or camera to to large remote but want deploy agencies can that And case it's from Here positions. a to the not a units have have enforcement to fixed come view aerial from where platform an a off as either directly stand the capability situation capability platform. law from

first value again, we in agencies. the law success So the for is prop enforcement ensure government needed that deliver here responder public sector and mission insight to and tactical our safety

think forward And refresh, systems. a is here to technology downlink think positioned we video So system. were these to so products looking well having address an that. downlink systems world see We of we a complete aerial refresh to a agencies leader in our we're we key lot these and are we're again, looking airborne

Mickey Miller

Okay.

accretive opportunities. inorganic M&A and opportunities quite We've have we to the business. pushing we organic be we both to committed been lifts and that think this short in a growth side, On area, our of will active remain

on And then to and deals as a because type we and to deal AI of XG. communications, looking CXISR, what and of consists goal the very as capture, Our the great end data course, and deals and by drone radio opportunities business automated distribution to transmission, inorganic that focus that areas doing and We're we're Both capability, as in sports video other time think is internationally. great our publicly XXXX. announce two well a video that currently the looking in big those based the one spending US of airborne recognition analytics at this we we're we underlying way complement the engaged, organically, and opportunities. of software, on we're areas we're complement driving for will be capabilities have. And of IoT, and

Mike Bond

AeroLink at we the product announced, some a got in APSCON event surveillance safety and response was the our there XXXX received the in we've had the success and great reception We largest events, And APSCON. that So airborne, tremendous just public recent we've that in from that's notably, public customers. US. participated

announced attended out in and space and which NFT And for received. well was then And which of largest is we if to consumers. largest we again, is That's US. received reception here, we again, in the products that East So clipping capability. Middle our And to That forward athletic see well broadcast, the And directors event the a there's continuing gathering satellite get that push product, our CABSET. region's video look there. NACDA, positive the market. college we

Mickey Miller

that. event we in and up live forward so coming big Yes, which our global we're Amsterdam broadcast is really looking have production to September, in IBC,

the year. throughout that interesting. We're go sports addition to don't focused make solve they're sure we just returns we on focused and to first the returns that shows the we the the of have responder we that In we group entertainment because side, smaller get these broadcast investment us or those in drive shows very on can shows customer side drive very it's and those of to problems. create rest demand we shows are that put on, believe these that shows that opportunities on whether the and shows for to the We're

bonded So that Del both York example in New owners. and then teams, Association rights Monaco as well largely is some for is about our other as our video and large cellular live which broadcasting digital, York opportunities of those National sports of products, sporting AI And of suite of production professional a products. again sports global Broadcasters NAB SVG creators, creators, great content video New

need about excited the have. we Again, up. events that very the would that it's the where marketing coming we're we we to have focused, So drive get on returns that spend we

Mickey Miller

Yes. Right.

Oscar when companies XG, entertainment. that that channels be asking, you sports or with more transmission, cloud, and the RF we're obviously at space, then because under it'd NDA in Companies potential So products can and that in it but go place. about leverage into we are looking characterize speak our And leveraging broadcast type the We we're in space, I acquisitions? our can't expertise, ideal our for. obviously strengths government detail the we of our be in where we those, have look our is leveraging that can and team also have currently we can military, whether both into firmware,

So that's at. can And looking they be we're what arranged.

it's cash, us, important potential give challenges For in very the our me world. for

able be want interest hand, recessions, we that have rates, and we cash to higher to on Given business. the to make potential sure support

able for a cost to mentioned, cost reduction base. have capabilities, engineering I innovate. in addition And to our the our and engineering headcount base, As of and our we in is to beginning, increasing continue reduced be that

increasing time, comes that in the So At down. net our overall the bring we'll same we're organization. cost down

on So focused that. we're very

like we'd that have predictable that us to business, more like companies to more more allows And position are every so acquisition we're participate business revenue, It be liquidity in and us. drive to we recurring range, and seeing in challenge day, and a more get today item may seems do, for at to in. that. troubled is leverage key looking will a And opportunity that any an more we're that we everything

and how be capital. So, in again, do deploy we we what very we'll judicious

Mike Bond

driven question think be is what your in market think with with a think we worldwide we're can effective outlook for in the producers, a cost that horizon. see and to economic is your key capability, that tier that that possibility think And economically. those We needed says of help that. again, I And lower the had said lower on broadcasters we live couple cost capture be driven go and address opportunities for we inflation robust of slowdowns And news, production so is events out and we I a we manner. going XG that our experience be the to is, of and that markets? there's can think produced AI refresh a down starting technology sports more covered the One production the cost think reasons. and to we

So Live we that's because Events side. real on positive the think the

there's having government going effort see to a funding federally there push into more surveilling and both budget to on or ago, on think have able I to side, itself. police of level the On departments, events, to think be flow such state kind while a I that's observing starting solutions people want again, the dollars, little government a units. defunding went of capability that We're reversed was a be to local where towards roll and and ground not

capture our product trend products. our there's real we think downlink of AeroLink and positive a there with So can other new we that some

both pretty the sectors So address. we remain on bullish main that we of

Mickey Miller

events? do are solution AI you allows V sports and mentioned machines. a you sports be offer all captured at capability addressing for levels What cost end because are low generating competition effective through to you Yes, which way and very it's done tier lower producer, sport IQ of professional pilot, grassroots.

that a We the where the the our but quickly. do, to we've which our that of Mobile through Mike of the the This is But the And at Europe. we're ball that of a follow CPU athletic today have three know have the is speed tier very which in support particularly opportunity or we that's deployed in know football on moves their here throughout we leagues and is the various site see sports. sports sport, high mentioned, US. sports that a we introducing. difficult four Like been series in been product a, school a ball Viewpoint And product Texas that very to deployment acquired is series sport, GPU able product, at able state NACDA to show the to or rules one selling show national a be IQ producer into puck technology this in that's directors the high we're to is of campus acquisition. a

a and I us at coming and for a activities BT new traditional sports with It like have up key and lead There's doing to them globally, our We're products take aren’t press captured in we types commercial we're we you're of think XG demonstrate but our participate Viewpoint, globally see our technology product largely to I'll Games? lower XG is said low products level it that of our like the mentioned take bonded that will partners -- MicroLite demo recently develop have that activities COFDM one. opportunities? that into down the it to place technology, seen on created COFDM of cost to And we WMT, is, today, in why strong participating a tier our been and technology mid-tier. side. time where Many trials profile US, very BT took doing great level. events we our a things. capabilities bonded downlink Yes, brings being the So the about very a our high own our but Absolutely. handsets, will certainly Sport, see, the take IQ whole What in bring a cellular as some in of don't much We you with GP, premier the down, Media. that through Mobile DragonFly. that based we've us Moto globally. that X for where at people the that those well XG. technology, events that, was in events. and one much have Commonwealth new high technology as deployed It this think through of are produces brings these will Having technology That's history has in cellular lot

our case, to uplink, able need of use latency. lot get be For low need uplink you in you the a bandwidth the to

you video So a there's the looking event. first the of home as responder, if at decisions and out video no to consumer you're drop at make a Or around. watching aerial

you're it's a see got quality. with the our networks, based to now That's high we be how very over to going tail a think long as dependent medium. to and on more XG XG XG right very, capability, very their been why spectrum evolves, it's the private has country on see see So regulated. XG, own opportunities but proprietary, you We private as traditional use

for For the here for US, here UK, this be the of as Verizon. industry allocated which in Colchester instance, the at technologies largely owned by many use megahertz has well in by owned outside the our a I'm like is level which to this, private use instance, UK strictly of networks in facility for the other But deploy able for is carriers, CBRS preferred lot as today UK, XXX XG bandwidth, for is AT&T cases. and band, in US XXX to megahertz, the T-Mobile case,

the to be have spectrum ready in transmit a many pipe. data, things with countries, In XXX do megahertz. metadata, because developing that deploy able besides be able see systems the other ready video, to that to over they're we be you here XG opportunity name other when time. we'll to allocated it over of deal great UK, a seeing we're so And they But

Mike Bond

done a common to our of is and using profitable? and increase to in are increasing that you receivers use But good work have lot great we're simplify we a also do streamline the be our guess systems such common the we starting see answer trying going transmitters I says that we're But on hear. elements. revenue I to expect yes, components, revenue. expect is There to in that what to common have question

So therefore, of as cases we from of may form get customers, change. same. use are the the a workings different our the now But internal solutions our, factors lot

we're efficiencies how So in how we we and have, driving terms of how we our engineer manufacture goods. produce, we

at leads point to a and that to So maintain where not if we margin. us expect can least margin increase

So we're margins increasing looking maintaining at at least and profitability.

Mickey Miller

now. second Yes, growing Vislink the business are which right of quarter, for fastest part

as didn't from They've the For these closing bringing, able those QX what up happen. those opportunities. on and very We mill the been QX. side, significantly build to making on quarter so for on We've the to below we're last and achieve. the But sports fastest. our second the we'll very many particularly was of And business grew of entertainment opportunities. year investment same ship expectations. many able hoped inventory. government given book into and be And transitioned to and lose quarter, well our we're ahead media then on those things discussed, our It below within side, focused we focused in we'd gov on that

question. more one You want receive to

Mike Bond

we we've where And to them see get responsive were go chain net-net But again, on supply some a and we Mickey supply, to mentioned, at one what put lose so components. question, goods critical shelf. experienced short And to through about more component don't produced sort that work to of into period parts again, just was it the this scarcity time. a losing trying hard, times, sale be we once more so shortages that have job good we and those I it's the or question a can predict what it's the and does And received finished of ability and as fulfill short scarcity cases, had I progress, we're to will we right of time. go produce we pretty into components to the we given also our we received customers’ episodic, of order, done don't hard had of can more continue in orders orders is at components orders, and that We've typically, certain I supply and accumulate shorter moves maintain but see components seeing hamper certain losing in of kind time. we're revenue more it the some and in components.

Operator

[Operator Instructions]

Mickey Miller

questions. the the summarize for everyone for thanks, just Well, Thanks I opportunity. we want are. to where

we're then things shareholders. next to in a are place you will all company very fourth year. focused. product developed with net And but We're very and those lightly. putting on additional losses. up new through We this We the acquisition. Vislink bringing at Viewpoint we're disappointed growth markets products this don't We year very this on take of let side. for we sit markets it Mobile to in new remain committed third to capability the to opportunity business, M&A everyone's in that augmenting putting adding quarter, want full the like that through see not don't we opportunities reinvigorate quarter took continued with take quarter. taking hit team engineering to I We're take and into looking traditional And don't as quarter this And market. also capabilities results we're We here be is the we'll And But We focused appreciate line. for going continue. in action We our which business. commitment the position our see great cost We of losses still. lightly. this on the the the in, to well you'll to as understand and return and side, which

Operator

you. you for attending. Thank Thank

can multiple Twitter, YouTube through course very LinkedIn, vislink.com reach to Instagram. at social You and out to us Thanks of it's email much. and phone, Facebook, ways whether investors

Vislink (VISL) 16 Aug 222022 Q2 Earnings call transcript