Q4 2021 Vislink Technologies Inc Earnings Call
This is on a mission to provide reliable connectivity to capture live video.
Technological innovation deliver simplicity and creating content ecosystems for numerous uses in the most challenging environments.
Automation news and sports production gets a boost with viewpoint, our live streaming solution powered by bonded cellular <unk> and AI.
The elite and coding gets news sports and outdoor activity content to production use them for remote production and mobile surveillance.
Our smart solution with a range of deployment options, including support for multi camera or EMI H Tuesday, five and Starlink engaging audiences is critical for any immersive image capture digital microwave and video technology create this intensity with high quality feeds and low latency.
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I'd like to remind everyone of the safe Harbor statement referenced in the SEC filings. The private Securities Litigation Reform Act of 1095 provides a safe harbor for certain forward looking statements.
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 27, a of the Securities Act of 1933 and section 21 E of the Securities and Exchange Act of 1034.
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.
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Hello, everyone and welcome to the visit Lincoln 'twenty, 'twenty, one and full year earnings call I'm, Tyler Kern and I will be your moderator here today, it's a pleasure having you all of you along with his joining me here today is in.
Mickey Miller, CEO and my bonds CFO gentlemen, welcome. Good morning, Good morning, and thanks, everyone for joining us really happy you're here with US today in this new format, absolutely a new format for us it's a great way to communicate with our shareholders who are really looking forward to continuing this in the future. Yes. We're really excited to have you guys here today and to be able to to present.
In this way we have a lot of exciting things coming up here on the broadcast for everyone, but we know that it's already been a big 2022 year per visit link with you guys being involved in some of the biggest events that have happened worldwide. The Olympics Super Bowl. So many big things have happened already here in 2022 before we dive into 2021, guys give us a little bit of an update on what has already been in <unk>.
<unk> 2022 for our long term investors. They know we've been in a restructuring from 2020, when we joined the company and we're so excited in 2021 was all about innovation, we introduced some exciting new products. We've got some great products coming up this year that we're going to talk about.
So from our customer standpoint from our markets that we serve we believe that we have a very fundamental platform, where we can have success with both on innovation and delivering to our customers needs.
From a financial side, where we don't have COVID-19 to deal with as much as we did last year. So this first quarter's going to be very different than last first quarter. We.
We feel very confident that we'll do better than last year in the first quarter and just operationally. We think we've worked out a lot of the Kinks and bugs that we have been encountering over the last two years and where we think we're well positioned to have a great 2022, well. We are really excited to talk more about that but let's dive into 2021, because I know you guys have a presence.
Patients that we're going to show and so let's run through that and give some people. Some details yes again. So many of you know our mission remains the same to make the capture and distribution of live video more immediate immersive and intelligence.
So we play in two primary markets.
Sports News and entertainment, which is about 48% of our market in 2021 on the sports side as you know I always say, it's easier to say what sporting events were not involved in and the ones. We are involved in.
Everything from as Tyler said the Olympics the World Cup, the Super Bowl, but also Premier League Theres, a shadow Ronaldo their news big opportunity for us.
Many of the journalists throughout the world use our products to take their stories and bring them back to the studio for distribution throughout the world today and the Ukraine journalists are using that as a way to tell their story and then finally in entertainment.
On the entertainment side, the Grammys the Emmys the Oscars.
Classic <unk>.
This will Smith's slab.
It was due to our capabilities to bring that back to the studio so.
Sports News and entertainment has been a stronghold for visiting for many years and we've introduced products to form our position there and grow as that.
Demand for content grows right now today on the Internet.
Less than 15% of the Internet videos live video and it's the fastest growing sector within the Internet video space. So we're excited to introduce products, both our AI generated products as well as our traditional does link products to be able to serve that market military government is a big market for us last year represented 33%.
In that market, we basically serve both the department of defense and NATO military as well as first responders sheriffs and police departments fire and rescue.
Last year because of the fund the police efforts.
You know a lot of first responder business was down but it was offset by a large presence we did a lot of business with the U S. Army again and this is for communications video communication throughout.
The theater of Operation and then lastly satellites is a product line that that transcends both of the major markets that we serve as part of our overall portfolio and we Opportunistically go after opportunities in that area.
I'm going to give you some of the highlights of 2021, so our revenues increased 48%.
We ended the year at $33 $9 million and that's up from last year of $22 million, our bookings increased dramatically up a 100% 107% to be precise.
Very exciting last year.
Came out of Covid slowly from a sales perspective, but actually we booked more twice as much businesses.
Twice as much bookings as we did revenue in the first half of last year and that that trend is continuing we're seeing strong bookings throughout.
We had two consecutive quarters of cash flow positive. If you take away. The one time items that we experienced that are either noncash or nonrecurring and we had three of those we had a write off the goodwill that's necessitated by accounting policy that says if your market capital goes below your <unk>.
The value of the company you take the difference and to the extent possible you write that off against your goodwill we did that.
We also took a charge for the vesting of.
Of our issues in options associated with our long term employee incentive plan and we also had a onetime payment of a tail from a contractual obligation related to the MVP acquisition for advisory services and again. It was a tail was a contract that predated Mickey and I coming to the.
<unk>.
We had $36 million of cash at the end of the quarter and we might've had even more than that but we did.
A ship a substantial amount of of.
Goods out the door and we had higher than average receivables and we also did invest in inventory and we will continue to do so in light of the.
Supply chain issues that everyone is aware of we are taking steps to build finished product and put it on the shelf. We're building modules that go into finished products and putting those on the shelf to be prepared to be more responsive to our customer base and we're also going out and we're purchasing and procuring.
Strategic parts and components and putting those on the shelf. So we can mitigate some of the supply chain issues.
So we successfully acquired and integrated mobile viewpoint this year.
If you think about what a successful acquisition is you.
Typically say, it's people product channel and technology, we feel like we got all four of those <unk> are very excited.
By the prospects of integrating mobile viewpoint, not only into our product portfolio, but introducing their products into our channels. We think they have a stellar group of people that we love to work with.
And the best part of it is they are profitable and they started they were profitable from day one.
So we've we've delivered some really as Mickey had mentioned in his preamble, we delivered some really interesting technology to key events around the world. So we do a substantial amount of business with the department of defense.
And we did so last year, we had a very good year with the department of Defense a week, we hoped and continue we will continue to do that we did deliver technology to this the Tokyo Summer Olympics.
Super Bowl.
We did a revamp of the Alabama public television network that utilized our point to point systems.
And we also were.
Embedded in the what's called the extreme E racing circuit, which is.
E electric electrified cars that race off road and travel the world and a new kind of exciting racing circuit. So those are the highlights of 2021.
So for Q4 I'll run you through a couple of highlight highlights there for Q4, we had $11 million and that compares to 11 million for the prior quarter and for the first quarter, we did $4 million for the second quarter, we did $7 million. So we substantially picked up the pace as the year progressed.
We had 64% growth over the prior year and revenue we had strong sales in both live production and Mil Gov. Our two principal product areas, we did $5 $6 million in live production and we did $4 $5 million in military.
Military government both of those by the way are above our Q3 totals. So we continue to rollout new products with strong related sales were really encouraged by the customer reaction to our new products. Mickey is going to take you through some of those those new products in a later slide.
You had made strategic inventory investments like I mentioned, and we will continue to do that we do feel that the strong effect of headwinds related to supply chain and making I have made a decision that where possible we will.
Go out and aggressively procure.
And by inventory such that we don't we can mitigate some of those those issues with the supply chain.
We integrated mobile viewpoint like I said, we're very excited by that our colleagues in the Netherlands have spanned out across the world with us in both sales and product development.
And we're very excited by the prospect of offering their new technology, which is principally bonded cellular and this new technology around AI. We think that's really exciting for our our customer base and drives a lot of future sales.
So maybe he's going to take you through the highlights of our products as Mike said, 23% of our revenue last year was due to new products or quantum receivable, which we announced in March has been the most successful product launch we've had in the history of the company is an all IP based native receiver for K that the.
Industry has been Super excited about and has been deployed at many of the events that we've talked about the DVD 6100 is a microwave solution for those new get news gathering operations that we talked about and that has had success along with our IP links our IP link allows.
Broadcasters like Alabama, public television and others to upgrade to an Ats three <unk>, which is the new standard for broadcasters to move to the IP World and then lastly, the basically <unk> is our mobile viewpoint product.
Six combined modems at five <unk> that you can bond together have massive capacity and capability. So all of those products were announced last year that were having great great success with coming into this year in the latter part of last year. We expect this year to have over half of our revenue generated by new products that were.
<unk> introduced last year or this year.
One of the key things we want to do is always stay at the forefront of technology. So we worked together with BT sport.
Moto GP.
University of Strathclyde too.
To create the first ever.
Private <unk> network live production at the British Grand Prix of Moto GP at Silverstone. It was incredible event that we were able to show that <unk> does have its not there yet but that it does have the capabilities to be able to do both live production and then ultimately someday to be able to get to where we are.
With our capabilities, where we have four cameras on every bike and ultimately a fifth camera on the driver.
We have new products coming this year that were.
Very encouraged about the <unk>.
One of the things we want to do is to be able to have all our products, whether they are historically MVP products or visiting classic products to be able to be operated and managed an interoperable with each other so we're taking the quantum and allowing the quantum to now accept input from all of the mobile viewpoint products. So a customer now has the only.
One receiver to work with as opposed to two independent types of receivers also it's all managed by our linked matrix product, which is a mobile viewpoint OS essentially that allows our customers to manage their entire network just with one software platform the mobile viewpoint Terrell link encoder.
Coming out with with four K R V pilot, which is a studio AI generated product allows you to create a studio situations on the fly our IQ sports producer, which we're doing trials around the world with today allows you to have high quality broadcast level sports production.
Without a director or a camera folks and then lastly, our airlink, we introduced our air link in March at the helicopter show healthy International show, which is the largest healthy and drilling show in the world and we had an incredible reception we have many many customers that want to.
Have a demonstration of that product to show what it can do it's the world's first ever for G.
I'm sorry <unk>.
<unk>, which is our own proprietary and mesh network. So you have three types of interfaces and one device completely for K, that's a super exciting product because it addresses not only first responders and military but also the broadcast customer as well.
And then.
We have other products that we plan that will be evolved from those products, but we're super excited about the innovation that our teams our development teams. Our production teams have done over the last year.
Mike and I are really pleased with the efforts of all our global employees throughout the world.
As he indicated our mobile viewpoint acquisition has been an incredible team that now has worked together with our team to create these products bring them to market and we continue to do that through through our focus on innovation and investing in R&D, even though overall as Mike showed we're able to bring our cost of operation down we increase.
Our investment in R&D. It is important for us to innovate and important for us to lead with the latest technologies and we're really excited about that.
So I'll take you through some of the 2021 highlights of operations, there's been a lot of big changes there and we're pretty excited by it.
Rationalized our product line, we're making I first got to the business.
We were trying to be all things to all people, we had a massive product line some of it overlapping due to the fact that we had.
Multiple acquisitions over time, and we had they had rationalize the product line. So we've reduced that product line by 58% and we've streamlined it we've simplified it we've gone to a common set of components that makes it easier to manufacture easier to procure for an <unk>.
Just a lot more streamlining in that respect we've established a platform based technology like I said and methodologies that helps us in our buying and are procuring.
We reduced our worldwide facility footprint substantially we've reduced it by 73% we had a multitude of offices and facilities both from an R&D and manufacturing perspective, when we first got here we've changed a lot of that we now center around two main manufacturing facilities, one in the U K and one in the United States and we.
Do have a branch in <unk> the Netherlands. It also produces the MVP.
<unk>, but we have like I said, we reduce that footprint substantially.
And we've also reduced our worldwide head count by about 32%.
We do that but we think we've gotten greater productivity from the team that we have today than we did yesterday and we're looking forward to continuing that trend.
But we will build back selectively like Mickey said, we are going to make some selective investments in R&D and potentially in the go to market model as well. So we increased our R&D by 13% year over year. So our productivity increased 59%, that's just measured simply by revenue over the APA.
<unk> head count and we feel pretty good about that we really have streamlined a lot of that has come from streamlining the product line and making just those things that we sell and do well and by virtue of doing that we've reached some real benefits operationally.
So we still have a relatively complicated supply chain and supply chain situation as everyone knows the.
The headwinds are there, it's more difficult to procure than it ever has been we've taken a couple steps like I mentioned, we are going out and procuring more key componentry and putting it on the shelf and we are making.
Certain of our key products ahead of time.
And putting those on the shelf. So we can be more responsive to customer orders and customer needs.
And so the supply chain environment continues to be a challenge we deal with it every day, making I have production calls.
At least once a week if not more often and we're the biggest issue the biggest.
Impediment that we deal with in terms of getting our products out on time is in fact, the supply chain and getting key components in on time. It's it can be one component that can hold you up for an entire production run for one particular item, so where we're focusing on that it's one of the things that we're going to invest more heavily in to the extent that we can.
And bring in more key components, we can find supply we're actually procuring mulch.
Multiple of months, if not a year's worth of supply.
We continue to have strong customer activity.
We participated in the Beijing, a winter Olympics and NFL Super Bowl most recently.
<unk> World Congress, we worked together with Motogp to demonstrate our capabilities and as I mentioned, we introduce Darrell link.
One thing that's interesting one of the reasons, we acquired mobile viewpoint is they were very strong technically but they have a limited sales force. They had very few salespeople, we thought by taking that capability and technology through our sales channels are 150 global partners that we could do a lot with it we've had over 45 customer demonstrations.
In Q1, showing both AI and <unk> solutions developed by mobile.
Viewpoint and demonstrations are what get customers interested to give us purchase orders to acquire themselves. So that's a great trend for US and then of course, we are preparing for the World Cup coming up this year in Qatar.
Growth opportunities number one we see a growing demand.
Though the broadcast World is consolidated we see an opportunity at tier two tier three events.
For our AI products, because it allows them to produce them at a much lower cost and bring those to market and then we see opportunities in our traditional live.
Production market. So for instance, when you look at the world today.
U S came back strong so we had over 200% in bookings last year.
Middle East is a growth market for us, we're seeing great opportunity there Europe still with Covid is coming out of Covid, we've seen about 30% growth in our orders, but in Asia things are flat to down because of Covid and so we still see that market as a great opportunity to come back along with Europe , and our traditional live production.
Tier one market.
Big opportunity, we see that we're working through it's an emerging opportunity for us is taking our capture capability, our delivery capability and our AI to reconnaissance and surveillance, we live in a world of uncertainty.
In that type of world, having the capability to bring video, which essentially is data to command to be able to make decisions on how to utilize best your assets in the field is super important for the military and for first responders and we see a great opportunity to bring this technology combined.
With our existing portfolio to be able to produce solutions that meet those needs.
New new products and innovation on what will drive our growth, we're very close to our customers to understand their problems. What we go we go to them and say tell us your biggest problems, we have the technology capability solve them.
Now I think we're going to go to a Q&A session. Yeah. Now. This is the portion of the show we're going to be taking Q and H. So if you have any questions for our experts here from Mickey and Mike feel free to put them in the chat we've already seen a lot of questions rolling through some of you have some excellent questions here and we're going to start off with a question from Keith now this kind of.
Hit that what you were wrapping up there with making just a moment ago, but he asked does it looked like the company maybe coming out of the Covid restriction issues that it has experienced over the last two years, obviously COVID-19 is still a massive topic of conversation touch on.
What youre seeing right now as we kind of exit hopefully the COVID-19 years, a good question for Keith I think from the beginning of Covid. We would approach. It if something is something we have to live with so our operating teams have been operating in the factories.
From the early days and we will continue to do that from a employee we were still optional work from home. We do have a lot of our engineering teams need to collaborate or any teams need to collaborate.
As that translates to customers, we do see certainly here in the U S things things have come back strong with live events.
We're seeing that to some degree in Europe , and ultimately we see it in a large degree in the middle East as I mentioned Asia is really tough still depending on the country and where they are.
The ability for large live events is still limited so I think that's a growth opportunity when it comes around but we think with what's happening in the areas that we're serving that theres plenty of opportunity for 2022.
Yeah, and I'll just add that we took some pretty extreme measures to keep ourselves insulated from the pandemic.
Micky said we.
I think we did a pretty good job of that and I don't think we lost a single day of production.
Due to Covid, which is nice and the kind of the spin off of that or the fallout is also that our workforce kind of went home and work remotely and the interesting thing now is the people who have gotten used to it they are excited by it they like it.
So we're allowing most of our sale of our.
Our workforce to stay.
First if they'd like to do so so that gives us the opportunity to cut our footprint, our real estate footprint, even further which we've started to do and started to look at and it gives us more options in terms of how we operate.
Excellent.
The next one is a bit of a fastball for you Mike Here's the question we know.
It said that you have a large retail base of investors right and we've seen on social media is theres been some chatter of some conversation about a reverse split are you planning a reverse split.
To make this pretty clear we are not contemplating a reverse stock split a reverse stock split can be used for it for our purposes.
We were compelled to do so if our share price were to go below a dollar and we were running the risk of being delisted by the NASDAQ none of our shareholders I think want to see that that come to fruition, but at this point, we're very confident we're building value with this company. We think Theres link is on a path in that trajectory to continue.
To provide value, we think our share price will stay much above a dollar and we continue to hope it will continue to gain scale ground and so at this point, we have no no plans to contemplate a reverse stock split yes, just to add to that it's just it has to go below a dollar for more than 30 days and then after that you have six month cure period.
<unk> and potentially another six months. So it takes a long time, but our view is that we are.
Where we are today, we think there's plenty of upside so.
We're not.
We said on previous calls we are not contemplating a reverse split at all.
Excellent stuff now Mickey let me come back over to you. How are you integrating mobile viewpoint and its products into your sales channels and organization, obviously, you talked a little bit about that during the presentation about mobile viewpoint needing a little bit more sales firepower. How are you integrating them into your sales and organization. We've done a lot in terms of cross training of both our solutions engineer.
Bring teams and our sales teams so that they can both understand.
Each company's products, so that now they become one product and as I mentioned now we're working on the integration of the software of mobile viewpoint to manage all of the products and then interoperability between the products because at the end of the day, we're solving solutions, we're solving problems with our solutions and customers are looking for how we can help them.
Either grow the revenue reduce our costs or create something unique and different and we can do that with a combination of the products. So that's one thing secondly on the on the leadership team three of the leaders from mobile viewpoint or on our senior leadership team of course, Michel who was.
The mobile viewpoint, managing director, Charlotte, who runs our marketing now and <unk>, who runs our EMEA sales. So the team has been phenomenal and it's working together with the traditional visiting team. So we see ourselves as one visiting team at this point.
Excellent excellent stuff. We also have a great question here from Craig from the audience and again remember to continue to submit your questions. If you have questions for Micky or for Mike you can do that theyre in the chat in fact, it may even get a little bit of visiting swag. If we answered your question here on the broadcast so make sure to keep those questions Rolling and Craig Congrats on another awesome quarter. So.
Alright, Thanks, Craig Hey, Thanks, Greg We appreciate you get two heads for that.
Two visits.
But he has any other acquisitions that you can speak of our plans to acquire more companies great question.
As you know we did the MVP acquisition last August we have been out very aggressively looking for other acquisitions hard to top MVP like I said it it hit on all cylinders in terms of what it provided us it was cash flow positive in.
Profitable and had a great team great technology, we're still looking we're scouring.
All ends of the Earth to find interesting potential acquisition targets and opportunities and we continue to do so so that's a it's going to be a big part of our.
Our growth strategy, both from an inorganic point of view and it's going to be.
We think something will take up a lot of our time in that in the near future.
Excellent excellent so.
Let's see here one of the other major questions that we're getting quite a bit of is about the global supply chain has been a huge topic of conversation probably something that the average person wasn't discussing at all two years ago and now it's worked its way into some pretty common lexicon is everyone is talking about the shipping delays and things of that nature.
Difficulties are you experiencing regarding the supply chain right now, yes, I think.
<unk> been in this business for a long time I've seen a lot of supply chains and challenging supply chain, we've never seen anything like this before and it all comes down you can have all the components for your solution, but if you're missing one component youre in trouble right and so we've had.
Suppliers at the last minute one of their most valued suppliers and this is a component or it's a counterfeit component there.
Theres just a lot of irregularities that are happening in.
In the supply chain globally for a variety of reasons, particularly around semiconductors and capacity for semiconductors. So as Mike said earlier in the earlier comments, we've made a strategic investment we've invested cash to.
To buy inventory for those key components that we know.
Or maybe in limited supply to make sure that we have those on the shelf because if we don't have that one component then.
We miss not only selling that product, but all the ancillary equipment that goes with that product. So it's very important for us to have the key semiconductor components that allows us to complete the solutions in sense of our customers.
Just to add to that.
Dan here kind of at the very end of our first quarter for this year.
And we're still counting up what we shipped out the door yesterday in three locations around the world.
Interestingly as Micky said, we felt the effects of those headwinds I mean, it did impact our ability to get some product out the door. This quarter now we believe that we're gonna be in far better shape than we were last quarter last first quarter of last year. When we were coming out of the pandemic, but we do feel significant impact from from headwinds.
From the supply chain issue.
And then the question that we're getting is about shows and exhibits and that sort of thing any upcoming shows or exhibits that youre looking forward to as it relates to.
Being able to show off products and that sort of thing, yes, absolutely we're going to be a NAV, which is the largest broadcast show in the world that will be at the end of April in Las Vegas in 2019 and add over 100000 people. So it's a very large show and a key driver will have all our new products.
In our booth for demonstration.
We will have our vars are our value added resellers there to receive training on a lot of the new products. So we're very excited about that and then following onto that we have a whole host of both military government shows apps con among.
Among others and then in September we have <unk>, which is the second largest media show, which is in the Netherlands. So we have a very busy season around these shows and for US. It's a chance for people to see the products live feel and touch them and get to know them.
Excellent stuff Yeah, we we love a good trade show, we love those opportunities to get together as an industry and really see what's new and what's exciting. So NAV is certainly going to be a fun time and fun to get the whole group back together in Las Vegas, a fun time, most definitely so what are the last slides that you had there were growth opportunities and where you see this thing go.
But making it one of the other questions were getting is where you see some of the biggest opportunities moving forward I know, we talked a little bit about it during the presentation, but just wanted to give you an opportunity to share more about maybe where you see things going in the future.
As I said on the sports Entertainment side, we think.
As more countries to come out of Covid there'll be opportunities as well as as the opportunity goes below the tier one events where were super strong into those tier two and tier three events, where you can leverage bonded cellular coupled with our AI capability.
What I would say for the long term, what we see around first responder military and government.
<unk> and reconnaissance capability.
Involving some interesting programs right now that are in the early stages, but have come to fruition are pretty pretty.
Interesting and exciting for our investors and for our customers. So the.
The combination of mobile viewpoint, and what they worked on AI for close to four years.
That combination with what we've been doing is a pretty powerful solution to bring that video.
Slash data back from the field to make decisions ahead of time and proactively.
Excellent excellent so one of the other questions.
It's just about new products, obviously, and we covered a little bit of that but.
What are you most excited about what they tell us a little bit more about the new products from the past year and what excites you about those.
Yes, so I think.
I look at it in a couple of ways, we have introduced quantum receiver which was basically.
Upgrade to our previous receiver that was over 10 years old.
So as you would expect with the new product.
A lot of interest and it was all IP base. The broadcast World go into IP finally, and so there was certainly a lot of energy around that.
Errol link, which I announced.
In may or in March at the helm show.
That is the first combined mesh <unk> and cost and proprietary solution in the world and so military and first responders around the world are really excited about having that as part of their solution. So that's what I would say just new introductions replace an existing products. So it's a low risk play for us because.
We have a product that we know it's replacing so we know what the demand likely will be for that with kind of the exciting upside is around the AI products. The V pilot, which is our studio base production solution as well as our IQ sports producer, which is effectively taking a multi camera for K capability you actually have in one box you have four.
<unk>.
<unk> and cameras and it's all combined to create a solution. The AI understands is the support that you are following whether its soccer, whether it's baseball basketball whatever it is understand the rules. The game follows the ball and allows you to basically produce it at a fraction of the cost. So we're doing trials of that today.
And we'll be able to announce some pretty pretty big trials that we will have completed by next next next earnings call, but we think that product could have a lot of upside when you think of what's happening in the world with <unk>.
Within <unk>.
The ability to take that.
Imagine image Youre at a sporting event in the second you leave youre going to see either.
Three second highlight film of an individual of.
Certain team immediately and you could sell that NFL team meant that entity and sell it right. After the game. So incredible yes, theres a lot of there's a lot of excitement and possibility behind it is still early gains early stages, but our team is is getting heavy into the blockchain to understand how we can participate in that and we think it might be very interesting.
I understand the rules of football it's already way ahead of most of the referees.
We're good we're good there.
So Pablo asked aside from the AI video production solutions aspects, what other products do you see high growth opportunities for us. It's a great question Pablo Thank you again and thanks Pablo.
Amazingly seen but we think the AI driven capability not only in the sports side.
Just talked about but on the first responder military side.
As you can imagine think about today when you are when you are.
Securing a typical security you see these cameras that you can barely see the images of traditional <unk> cameras 30 frames per second now you put a 60 frame per second for K camera on there and then instead of walking back and you have <unk>.
For people in front of screens that are trying to find out what's going on you have a machine that's much more reliable to be able to really ascertain what's happening who's there what they're doing and then take resources in the field to go deal with that issue.
I think I think provides a tremendous opportunity for us and the world is exploding in video content and video capture the issue is what do you do with it. So if you have that AI capability behind the collection of that data that video you can tag things you can identify things you can monetize things much more usefully much more.
Quicker and in a much more efficient way in terms of.
Utilizing all of that video otherwise, it's just it's a massive data you can't deal with.
Speaking of AI. Obviously this is something that transcends really every industry that you work in and integrate with whether it's news or sports or even military right and making one of the things that we wanted to do was really illustrate the power of these capabilities here today do you want to sure.
I'm really excited about this.
We eat our own dog food. So this was produced by our V pilot I want to introduce Michelle buys. So Michele was the leader of mobile viewpoint created mobile viewpoint, and it's still leading that effort in driving innovation across visiting so I want to introduce Michele let him introduce RV pilot yesterday, you saw <unk> intonation Mickey.
So we're using AI technology to recognize people in the studio actually to find your head politically control robotic hit game, whereas to Omega ride shirts and immigrated on combination with Audi or triggers can also vary and I think we hope you enjoyed it and this is actually will be off with our AI technology and it's one of the first things you are working on a much more as <unk> already explained during the conference.
It basically looks at your voice it is able to identify the bodies, whose talking adjust for heights that got so it's incredible but this is just a subset of the AI capability. We have there is a lot more to this that can be used in a lot of different applications for our customers. Thanks Michelle.
So we'd like to enter their we thank you for attending we thank you for supporting this link please give us feedback do you like this format. We want to do this format more but if you wanted to go back to the all what we will do that.
I just want to underscore we are very optimistic about the possibilities for this company Theres, obviously challenges we had challenges with Covid and now we have challenges with the supply chain, but I can guarantee all employees throughout the world are 100% focus on driving value for our customers, which in turn will drive value for our investors.
Thank you for being a viz link Investor. This is your company. We are working for you and we're really excited about what we have to offer in the future. So thanks for joining today.