PRKR - Earnings call transcript Q2 2018

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Operator

Good day, and welcome to the ParkerVision Second Quarter 2018 Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to turn to turn the conference over to Ms. Piacente The from Young, Group. Jean begin. Ma'am, you may

Jean Young

you Thank us joining Thank you, Good afternoon, Brian. all today. for everyone.

the Before we may known begin, conference I'd anticipated the as materially advances business like to remind as economy actual patent achievements contain of and and technologies, results. to marketplace, Company's in to about well expected these and statements, are results among Included litigation, customers and risks from risks differ the call protection factors new you forward-looking which technological ability our unknown involve maintain that the products and outcome for ability other secure in uncertainties others. and our our cause the will that this our to maintaining

as related we factors uncertainties these forward-looking to place reliance other as you caution contained on well call. business, statements conference undue any to not this our in Given

can and provide and for information On quarter Cindy of our Securities second U.S. hear will Financial will risks concerning Poehlman, financial Company’s the periodic review these XXXX. the the from Chief be Officer, Additional Exchange call, found we who with in a other today’s results Commission. filings

Jeffrey on with you, Parker, ahead. Officer, Following Cindy’s to Please to over business. Cindy. I’d an again update go turn Executive remarks, like provide the for will that, joining Chief And Thank Company’s us. the call

Cynthia Poehlman

product ParkerVision’s second or the loss conference share for Jean, the $X.X loss for in afternoon of net $X.XX our result you XXXX Thank line. net us related adjusted XXXX. payable to XXXX, our increases our of quarter increase in Milo net primarily million good obligation contingent non-GAAP loss a share and the to $X.XX per net or expenses quarter share in On for XXXX. We operating primarily value XXXX, of partner the $X.X to per $X.XX to estimated of $X.XX of you, $XXX,XXX fair of million with million The secured second compared funding for compared of quarter our was or litigation per of that's a second afternoon reported quarter or those share basis, our increase $X.X loss to call. payment $X.X second the second is of for a quarter the per a this joining million along

on first in XXXX, million the we a the For compares share or loss our million the per in half launched in the for advertising is decrease to result $X.XX a by the net $X.X compared a decision half in quarter national share our loss a which to of The and loss of result share-based $X.X our year year, We of We that net recognized contingent share for our second $X.XX in the first million from week. revenue change payment a when last compensation. of per of year-to-basis $X.X expenses of and see $X.XX this XXXX. year. development million research last On believe increase is or partially per and loss towards per of was the net first in $X.XX secured a decreases reported obligation, the of first this net in decrease the basis, again increase Milo half of $X.X divert which half year. this or was $X nearly offset increase million from to the compared adjusted loss for share to did campaign television our of first quarter dollars non-GAAP estimate

for maximize as Liquidity the work can growth continues be focus area over the to campaign this we Company. weeks of generate. an results to that of evaluating closely be revenue will potential We coming it the

amounts used partner under we Aspire quarter available provide from to During litigation line proceeds ATM working well XXXX, agreement our our additional equity funding as our and the capital. as second of

entered recently also securities first July into $X the Capital XX. two of tranches; which in with to transaction private closed in We the sale Aspire million a equity of for up on the

Jeff I Before the his I listing. for NASDAQ about talk turn briefly comments, to call over to our want

Panel extension to earnings As XXXX. XXXX, NASDAQ’s which despite extensions NASDAQ’s us we was we March beyond grant of listing Panel the August release regain reported continued in by It's have understanding our failed that requirements, Hearing to today, compliance in with is to Hearing unable XX, yesterday. the our granted

notice from a although, So NASDAQ, notice in days. we the official do coming receive we have anticipate the to yet

we for am market market I available for today’s the applied preemptively transition for of to able have end listing will OTC Jeff to to to his on would the business but at without for questions turn like I delay. that We be OTC and things now, expect call, over the update.

Jeffrey Parker

quarter Thank call conference to you, and of Cindy good you attending those today. second are who our afternoon

to the million A manner the we funder, our contingent to up upon our liability receipt our that litigation on which release shareholder equity. of for NASDAQ on factors compliance, liability update contingent realized. significant we sheet in in creates balance of $XX.X million be future that is earnings liability this noncompliance the of deficit our is nearly following account from comments have our regarding Because Cindy's $XX So proceeds must an deficit. our one completely and contributing the today to the

significant to funder achieve accounting partner, despite enforcement unable as rather the long-term for a patent classified which treatment is accordance this the try Principles in than certain of has the program find our or defies is everyone's investment efforts GAAP, liability, logic, such manner as Generally our modify in we've Accepted along are we've to this efforts, but equity that we with agreement been accounted a goal. Accounting we made While in best obligation funding contingent made certainly way to with to

property? valuable answer is, pursue to of the and unauthorized mobile We Should shipping communications associated most continue just one units made of I the could the largest with Because United we of use ever to our in intellectual have investment the this billions absolutely. currently worth products our contribution, here the categories, guess our been So believe patent-protected resounding, the innovations significant technology our ask has it? of States. that, infringement widespread, one patented in product of is the wireless namely asset,

obsession place which valuable in States historically one that ParkerVision important this now The And express, patents damages protected makes of time patents innovators dialogue manner. most for that Capitol patent shareholders and has are away from history, Hill economy and both has the the bad mania it's a that by readied other States, in will the States. about so through States troll the House number and abolishing cost with to the ultimately concern very of clear while risks should that we quality timely the been by the the eliminate encouraging It's are or protecting the beyond shifted led parties, take world supports by need advances, first back an aisle, more innovation in investment to that is There the for our be are has worthwhile better shifted than not have both innovators our Congress, venture kinds and the a have they can pursue. developed taken the for it's or aims United time to been in of health and overall patent with altogether patent Patent being bills needs in protections enforcement we that of the to side protection, innovation conjunctions, Act, It's to the aim be Stronger eliminate Senate in history, and kind United innovators patent steadfast a United of should that the infringement sends United sponsorships United believe investor signal its the that remain of to China recent been its working in innovation frustrating truly that significant, committee the a systems recent challenges in a to recognized in which system create the of value investment curtail than patents is the and in the now in and in inability to and bring and multiple patent where patent to eroded countries patents. back it first both, protected news advance recognized. timely and led being times. what ranked XX The away patent I way IPR indiscriminately enforce bring are to States The that

the start place enforce country's conclusion an our enforcement. committed endeavor health our So the infringement much have effective to to our economy. trend to ever taken the the future back than successful could in while to longer has There for appears of be technology welfare patented and system of of imagined. remain We we the put of our

to the court near of the achieve All against we results As injunction and chips the for in year, that cases, in have term, one are give underway. these using can cases be if enforcement Apple are case of the ParkerVision. to our for enough found result ParkerVision hopeful as chips. an have believe, these LG finds we in for Intel believe three achieve using against ironically can the opportunity cases where significant we and actions One near-term however, we Germany, three each this Any meaningful favorably Apple success one Qualcomm case Company.

belt invention I as actually makes ironic that direct is Anyway result maximize the a adjustment think reinforce potential few very progress intellectual I and campaign channels. have our products, many just on larger get update we campaign. and the look under meantime, with the scaling our our yourself efficiency the response is it determining ESPN early of you several we some said such because in of once campaign this Candidly, the calibrated nearly most So sales enforcement campaign channels order plan goal we as the I continuous forward is We're of in the of a under we earlier, successful more the then the in of Bravo, the And a effective are The onto on continuously we the direct have campaign of Discovery the talk our wish and of to an belt. in real-time later Classic, of the the and and on markets to property. Milo to any effectiveness But about. kind weeks a the that this sense. of national was other to which you marketing to are weeks remain a WiFi our of weeks more call see news, the bringing improving for once ESPN going TV campaign to campaign key commercials our basis, media program. probably can It to adjusting stages steadfast difficult little the launched we've Milo value week analysis the the ago. brings, response and are a that

to about to call so, the – And that's for think, your questions? And our this open I the questions quarter. I'd update like

Operator

Thank the you. question open. Sir, [Operator Instructions] Hickman And from our Jon line of line is from Ladenburg. first your comes

Jonathan Hickman

This far from I Hey, Internet, us the of either a that campaign? of been ad give TV you delivered is the kind radio, advertisements number of print, Jon. any so Could have Jeff. implication got little kind national late. in bit

Jeffrey Parker

a it's calls to that but it's can where upon more to certain interesting campaign you not – number the the changes I you at make the when a they numbers from calls is the because probably But that somewhere website so the compared first what the can And marketing we’re you campaign for aired look have depending the meaning lot involved were what our to think, who've look first I Jon, in and the or a the way the a time, they and into at on things you exact but can I you – people right much on response from mean for so how campaigns play it's advertisement, that’s we're advertising and where to those things to what are million your changes partially week have weeks multiple happen certain by air surprise there how measured, find looks – the if really working direct very time. you lot next Impressions done then watching will this response make of of direct get don't dollars of And of of advertisements, response is this then that's call this can many see with ads XXX an encouraged. give of that in the a changes I'm, real-time. impressions. pretty was see of But now, commercials you getting number number how whether and almost to week and coming me real of many a multiple $X of just a can't of $X.XX very guidance people that and quite maybe good in and alpha in end that people do and real make then and campaigns it's be to expect. the And placed watching between be scaled look we this the impressions. Ultimately, we'll – beginning really the – wouldn't million or out wait people of let’s week. you over it program. I were But order. by have And lot update. response, conversion a been and

Jonathan Hickman

many how you did weeks Okay, say?

Jeffrey Parker

more probably so month, something a but weeks, like couple, not weeks a Several – month, three than a that. maybe

Jonathan Hickman

your from Can update you you final near-term with that occasion, is So the the one out a that? Germany us chips ruling we about any further or is on all Apple. can legal of the something with or – more judge are say that give me things Intel kind to against Germany's like interesting hearing what in case of on where of

Jeffrey Parker

Sure.

case also share interesting has I interest to case, in elements So it. your that very I some that believe

the had think and truth. the Apple called out is been infringed. briefs reported case judge the we and I for think, his working I've changing I around the I in about telling that position I of our candidly earlier roughing clear the calls not year and conference in with last that position the all, litigator like being And patent what's First lot. closely a

this you new thing can think, is saying And phone – do in way that used expressed did the same they to argument. signed case past. The today so I be the seen bring used interesting the inside really claim I was that's just which, only in patent that used final not saying what And what been that brief new, is they've anything the I've the the tell It thing Apple's filed to that in specifically of conversion. it show. the there's is a phone they that phone. I find pretty down they they in no And because be they're can incredible the will that

he in his term, have September, expecting which would preliminary find certainly he's wouldn't the to an then He they’ve if But hopefully infringement. to near like that a of And decision. ruling not set to time what a set should which, Apple And be currently according the offense, will in some a unless And time next final past will I out should the likely agreement in make is two we're of injunction, both expect any way very been that accommodate. to issued that but judge dates possible make parties ruling. hearing in hearing we see will a October, on in an this. to would there, injunction be and hopefully a we can litigator but that would So at my he us from think, is the figure come preliminary decision hope that earned, going should range. that the view told that he'd business issue that's minimum be date, happy we've final not preliminary you I a our a And it's court the that issue will to things, ours. for that ruling call,

Jonathan Hickman

you about you on the what – from take do And IPR I it? yet, – you appeal, have anything that

Jeffrey Parker

that appeal on occurred No, Tuesday week. last of

the job were a and it's three-judge the recording, the actually there couple times. I litigator I in to the position recording our think listen very and thought can the appellate thought the engaged did a court. judges, I at have that good judges You our panel and I available. we of I was invalid, and explaining claims rule And of apparatus is and a of was quite in case. method those knowledgeable just about the the they that patents which courts, were so ruled found they've that not claims as synopsis, so lower PCAOB not ParkerVision were were for the will a the challenged not hood. the And those the remain, – anticipated not

for a XX, affirm fast now is five Qualcomm just or and affirm the XXs And court await typically, I've to lower a we going basically the so less. appealed single the make would the like appealed what's to a business Rule would from claims, seen And days, court Rule make done usually we have XX the days I've lower they decision, ruling, occur, days. that. claims been apparatus at is we Rule says they within decision which And If sentence which on called have what that were XX told, more six court. method

okay, point recording, that going months, it going XX, the three say do they one to going opinion. flip So the is But know. can opinion, we're to at you one, means days in or of other, not got to going If go they're ruling the just about conclusion, Rule a either Rule listen by possible, giving again, XX to don't the kind get come us meaning, but of all where one by to so it's write that take that the own think apparatus don't it's not claims, probably going to XX, they're we or to or or the look likely you court like a you'll to if invalidating PTAB two, don't your correct direction the either I'd decision way it's are if method the a say going other. getting one can claims unheard And to means the other, up an the that kind that the they're we Rule lower we're get but doesn't the XX of. to

think well, don't to judge long tell that. I doing now the conversation is too been to this going want I the I'll to I've you hearing, what that from into predict in do, foray the why.

like like be do. seems say our I to likely be there wait just there's more what is we'll to they likely see a going going Let's full and and it becoming a Rule XX lot, opinion. have a But less position and to it's

and what So let's see wait they do.

Jonathan Hickman

Thank Okay. you.

Jeffrey Parker

Thank you, Jon.

Operator

And our from open. question Private of Investor. the line comes Teardon], your [Louis line is next Sir, now

Unidentified Analyst

Jeff. Hi

Jeffrey Parker

Hi Lu.

Unidentified Analyst

are you? How

Jeffrey Parker

about I fine. am doing yourself? you. How Thank

Unidentified Analyst

in obviously, to But giant is right just nine the hope And that's Well, and Cindy did it's know well, – buyer, the going days, day, liquidity is and that there the Good. Milo deals started. this out this, game huge and of alluded early you started. a flat do deal since a do This to is now. our it you there liquidity. you with sales I ninth is since

can sold? unit of idea So some give you us

Jeffrey Parker

second-week guidance meaningful that doing this guys start XX-plus campaign firms the I'd you doing earliest the you of till you not and been get likely that for rather kind who've third tell in on to this like and some for years the we Lu, the told see really end and and can have analysis do give at decades of us can more who with to in. the this, at in expect fourth-week. what get we're who've a it little working for living only this, been further I

the to can see from thing repeat seen, between the many you the the to right you this that who place our of got buyer of to going that right part unlock campaign we hard the we I watches times – scales. trick and is mind give to the channels which and with I'm call. going communicate want the of how you for recipe if commercial think to campaign work to commercial? and be the those And cetera it's on is much the candid to last too I'm customer repetition is kind we've money Part I how I me the will, hopeful competition to all the So store. bets to key evolves want profile secret optimistic of that conference and this of spend that you, that, thing cost the and and how what but the the see of the be now, et the We to think, too

I them? hope be to So here's we're result, shouldn't. how nice bring Good, guys you a you what you able is getting to hey,

has and revenue how we we did of think, so a Okay, pretty really don't joke beginning this campaign for about and the team that we're ton this. to able but company And can, a effort of I'm provide right growth kind can this I goal to that really how work it. think I get and be a meaningful tight-lipped honestly, to – it, of into kind the that is see put about if now, we we're going

Unidentified Analyst

because I Follow-up, liquidity, is. every is just obviously I'm an investor Okay. think there

You you your other Aspire, the day, that can sort sits? do has all of second you Can so us right? us approved tell that to the the tell drawdown where be can from you filed SX that

Jeffrey Parker

also working been it's tranche way the with the we the next approved of funding. once And statement get registration with helpful our this have into on putting them also we'll supportive is remain to the Currently, situation organized Aspire we is, then equity usable, is to of a campaign. that they support from conversations line continue extremely and my and want they've very likely

Cynthia Poehlman

it's twofold, we Cindy. is may only bit early, little This may been the days be business a be threefold SX. filed since It's

go it filed we quick days as it. week XX too to it early it's we effective, to hadn't can early effective how a yet as gone but So say after

the in few next days. something hear should we So

Unidentified Analyst

have. Okay. I That’s all

Jeffrey Parker

you, bet. time update, through – Thanks Lu. you taken the the for Thank to

Unidentified Analyst

Okay. End of Q&A

Operator

back call this for turn And our concludes Parker, now Q&A remarks. to CEO will the any Jeff closing session. I

Jeffrey Parker

update today. you hear the thank folks, in to for Well, tuning

few evening. now mentioned we was so the Have we more from sense call our on good keep Bye-bye. we'll will Milo, again everybody bit a with you a earlier, you can we give and talk I updated little but As weeks soon. wish

Operator

and you Everyone disconnect. today's participation for concludes you This today’s Ladies gentlemen, have thank great a and call. may program, all your conference in day.

ParkerVision (PRKR) 14 Aug 182018 Q2 Earnings call transcript