Q1 2025 uCloudlink Group Inc Earnings Call
Good day and welcome to the you saw one group, Inc. First quarter 2025 earnings Conference call.
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Speaker Change: I would now like to turn the conference over to Daniel go director of IR for the company. Please go ahead.
Speaker Change: Hello, everyone on a sense here for joining us on the new colleagues as well, it's a quota or to sell them when they fall earnings tell its earnings.
Speaker Change: Earnings release on our earnings presentation are now available.
Our web site.
Speaker Change: I don't know clothing Dot com joining me on today's call are Mr. T. P. GP pump co founder and chairman of the board of the directors meets there's always certain co founder director and Chief Executive Officer.
Mr Emotion: Under Mr Emotion, Chief Financial Officer.
Speaker Change: Mr. Chen will begin with an overview of our recent genius highlights. He says she will discuss our financial and operational highlights for the quarter.
Mr Emotion: They will all be available to take your questions in the Q&A section that follows.
Mr Emotion: Before we foresee based on those that this call may contain forward looking statements made pursuant to the safe Harbor for working as always our previous Secretary Litigation Reform Act of 1990, followed.
Mr Emotion: These forward looking statements are based on management's current installation.
Mr Emotion: Observations that involve known.
Mr Emotion: I'm certain uncertainties and other factors not under the components Kindle.
Mr Emotion: Which may cause actual results performance or achievements over the company to be materially different from the results performance August if potentially implied by these forward looking statements. All forward looking statements are expressly qualified in their as achieved either catching that right.
Mr Emotion: Statements risk factors and these house all of the components feedings wages as a C C.
Mr Emotion: The company does not assume any obligation to reverse or update any forward looking statements.
Mr Emotion: Result of new information future events changes in market conditions or otherwise exist.
Mr Emotion: Except as required by law.
Mr Emotion: Please also note that Youll call Inc's earnings press release, and these Cambridge call include gifts coffee and so on.
Mr Emotion: D C a P financial information and all of them.
Mr Emotion: I'll, let Heath 90, a P financial measures your clothing, perhaps release contains our grief recall saline nisha.
Mr Emotion: Oh jeez non GAA P measures to the most directly comparable unaudited.
Mr Emotion: It's D E P measures.
Mr. Chen: I will now turn the call over to Mr. Chen. Please go ahead.
Mr. Chen: Thank you Danielle and good morning or evening everyone.
Speaker Change: When he called oftentimes.
Mr. Chen: Oftentimes, you're fine with our Saudi.
Speaker Change: And then as our pending girl called me equal.
Speaker Change: Based on continuous to gain traction and build momentum.
Speaker Change: Total revenues during the quarter was.
U S. Dollar 18 7 million in line with our guidance, but it's hunting and increase of Threep on the 4% year over year.
Speaker Change: Despite a significant and increased investments in new product marketing and sales initiatives. We maintained a strong finance position rewording other just net income.
Speaker Change: U S dollar general for many of them.
Speaker Change: I'll just hate operating cash for all U S dollar on the two minions.
Speaker Change: All of that information or data on the table. If somebody sees business continue its north Boston close we used a force be flashy naphtha what coverage now available in 19 countries and regions.
Speaker Change: This is how you shouldn't but that's generally our market share and reinforce our leading position in London market.
Speaker Change: A notable highlight this quarter was the showcasing of our annuities in Norway teeth solutions for Paypal I O T pet.
Speaker Change: Some people see Buffalo, not 2025, including the eastern Shield.
Speaker Change: The same case hurtful Yoko she 15 months.
Speaker Change: And the T 40 pool, these new exciting technologies.
Speaker Change: Has been integrated into our broader a serious of glaucoma and glaucoma insight solutions.
Speaker Change: Driving growth and increasing wage ability and interest among consumers global operators.
Speaker Change: The price pressure.
Speaker Change: Customers in the face of these partners.
Speaker Change: We used to restore Halloween stoffel, starting from the second quarter of this year, our emerging business none.
Speaker Change: So call me thing, but it can be like Brooklyn, Iot all Jackie to achieve I'd keep telling me Oh grows.
Speaker Change: Okay.
Speaker Change: <unk>.
Speaker Change: I mean, it all goes in rate exceeding 100%.
Speaker Change: Significantly contributing to our patient and close call you felt well that's the way.
Speaker Change: Global market, they touch hockey sharing marketplace.
Speaker Change: Also we expect that our glaucoma and more plastics pulp and basically not with that theory gross.
Speaker Change: Processed meat probably 10%.
Speaker Change: Starting in the third quarter.
Speaker Change: Although you talked on your 2025, we are seeking regular disclosure.
Speaker Change: Our key metrics, including user account numbers segmented by six to nine to provide greater transparency and allows investors to carefully check our progress in user growth.
Speaker Change: Following our IPO stage showcase.
Speaker Change: Alrighty capital rising on the high value opportunities by engaging in.
Speaker Change: Otherwise commercial discussions with multiple major operators worldwide, we used to say what a partner you could.
Speaker Change: We expect to be finalized in the coming months.
Speaker Change: At a recent Emily and Oh, well Congress, yet 2020 by the time, you if a patient follow up and Oh industry.
Speaker Change: I fault late Easter solutions are unveil generating widespread recognition.
Speaker Change: Changing innovations.
Speaker Change: This solution is scheduled for commercial launch in May and June.
Speaker Change: Year 2025, we scare.
Speaker Change: With with less gas production expected to begin in the third quarter.
Speaker Change: In parallel we have began deploying AI intelligence to enhance operational efficiency.
Speaker Change: Embedding.
Speaker Change: Into a number of our solutions to all of us.
Tim: Sure Tim race global connectivity.
Speaker Change: Alongside AI.
Speaker Change:
Speaker Change: I'll ask Paul Flaherty.
Speaker Change: Hep C C Tech Hutchison mean technologies continuous food prep area in narcolepsy with heat.
It's a nice thing he's at home theater, this Iot people and pets worldwide.
Speaker Change: That's C F 2020 by our unit call was honored with the best of CES 2020, you fought back to work.
Speaker Change: I enjoy all saw it also lately.
Speaker Change: Underscoring our commitment to innovation. Additionally, one of our subsidiary is a significant milestone as the ones off the first batch of 13 falling in rest of the company is to receive approval from China and my eye for Pilar.
Speaker Change: But how.
Speaker Change: How do you come how do your commutation that somebody says.
Speaker Change: Our inclusion and therefore badge alongside that.
Speaker Change: C H.
Speaker Change: I guess after the Reno market nation.
Speaker Change: Cooperation such as Deutsche Telekom, Siemens Airbus and HSBC.
Speaker Change: The fracs the growing impact.
Speaker Change: We are having in our sector.
Lisa will enable us to provide Chinese consumer with a more let's see.
Speaker Change: Right.
Speaker Change: How do you come said, we see our solutions.
Speaker Change: Too bad Huh met growing digital lifestyle needs.
Nathan Nox: Nathan Nox secretly if he could step into expanding our global food.
Nathan Nox: With the spring and delivering cutting edge connectivity solutions.
Speaker Change: I will now review highlights for each of our key partners.
Speaker Change: I will start with glaucoma life, where we just are aware our first pet connected with your solution.
Speaker Change: Let's say your 2025 pitfall.
Speaker Change: Our Revolutionary addition, taller digital ecosystem hustle.
Speaker Change: Purcell is the war.
Speaker Change: Smartphone for pet offering fun I've had interaction six global petitioning for therapy.
Speaker Change: And my God.
Speaker Change: Kathy and health monitoring pet food is the theory.
Speaker Change: He perception of market validation in the pet care market, indicating that either we attract more users in the future either enable has the owner to call me, okay with their pets, while our global me up.
Speaker Change: I want them to call center was message playing music even inside the.
Speaker Change: Low teens lots of 13 times.
Speaker Change: Plain reminders pet cause even initial initiate court.
Speaker Change: This device.
Speaker Change: Exercise.
Speaker Change: This is.
Speaker Change: Hello are you building.
Speaker Change: And he was he loves us firstly, a healthy lifestyle for a pet pets.
Speaker Change: Oh, Oh, so Joey and create a commute community globally put engage with others like them. They work before this innovative ground breaking devices redefine the bump.
Speaker Change: No Paul between pets, and their owners and the way it has and we Oh and mobile network operators up squad does a quotation and the revenue growth going for a walk alongside headphone our unit call.
Speaker Change: You only called Plaza.
Speaker Change: Process solutions.
Speaker Change: Additionally, secure and reliable connectivity for daily life.
Speaker Change: Free freeing users flown.
Speaker Change: Combo sudden why is why are ensuring a seamless and convenient it's theaters.
Speaker Change: Hunting into law Global Oh call Me I O T P C.
Speaker Change: Ah well were introduced.
Speaker Change: The closing tag.
Speaker Change: And all in one game changing Iot solution.
Speaker Change: Lewis diesel evolutionary plop them slate Iot solution was designed to enable instant global force before she in five key connectivity for Iot and smart devices.
Speaker Change: And the right team solution.
Speaker Change: Can be seamlessly integrated into <unk> 15 devices with the same cost loss.
Speaker Change: Our smartphone C P E.
Speaker Change: And the other Iot enabled hardware.
It is cost effective.
Speaker Change: The price is great and also our superior network quality, ensuring the best apology without the need for any hardware or software module vacations.
Speaker Change: Plug and play nature of our cloud Siem technologies truthful.
Speaker Change: All of the Norway devices into enhance Comanche asset.
Speaker Change: It's also very scalable assess the waste Expo carrier switching and the pumping T T economics.
Speaker Change: Empowering the Iot ecosystem with Cinryze and reliable connectivity.
Speaker Change: We have already achieved significant punish patient in the automotive.
Speaker Change: In Fontana.
Speaker Change: In your supplement and camera market, especially among the mainstream Chinese a weak coke brands.
Speaker Change: The one thing that's true in specialized segments like the securities in basketball terminus.
Speaker Change: Upkeep Iot Tommy look.
Speaker Change: Okay, Temenos increased 12 fold year over year in year, 2005, Q1 with positive user feedback.
Speaker Change: So how come you've seen basically is just the unveil and not that can change.
Speaker Change: As you know the leap in Siem technology, you can chew.
Speaker Change: Position as the best our second theme and you can have it.
Speaker Change: Both domestic and international colleges by providing consumers with a single Siem solution for seamless local and global connectivity.
Speaker Change: Jesse.
Speaker Change: The challenges faced by EM and mobile network operators.
Speaker Change: Pool NASA work up on this and limited information, knowing and empower as tier two and tier three operators and when I'll, let I'll able to independent neither was widely towards delivery superior services and independent market research.
Speaker Change: I'm not get rich east.
Speaker Change: He seemed to offer enterprise grade security Global College and at the best price.
Speaker Change: Emulate cost today international roaming.
Speaker Change: I'll go high speed connectivity across multiple neither works.
Speaker Change: Lastly, our people centric so called me more plastics pulp and basically just unveil the miracle she is not.
Speaker Change: Our high Port Count five T mobile hotspot with a I C will spa Skye two gram connectivity.
Speaker Change: They used to be wise.
Speaker Change: He has this quality issue.
Speaker Change: Our real time congestion detection.
Speaker Change: Ensuring a seamless connection.
Speaker Change: Qatar is off where are you at all.
Speaker Change: The once Hypersound technology.
Speaker Change: There is a very hot hyper local and global information assess ensuring that user have high speed connections and reliable network.
Speaker Change: Oh without limitation of traditional don't mean, all carryout restriction.
Speaker Change: The upgrade kit she fucking model.
Speaker Change: Suppose big three times faster than the traditional fortune device.
Speaker Change: I used the word for enabled in flight Wi Fi connectivity.
Speaker Change: And then integrating Wi Fi network across the Bay area in vitamins such as homes.
Speaker Change: Post office in our cafes.
All for basically some nice I'm now market ready, which will be commercially available in Q2 year 2025.
Speaker Change: And tech is strong interest from our partners, including global Pet starches.
Speaker Change: Signatory.
Speaker Change: If they can market if patients Acacia that's the way engaging in commercial discussions.
Speaker Change: That's the way in a way he basically is nice increasingly diversify our revenue streams to our mix of value added services and mobile data traffic solutions, that's fed into our marketplace.
Speaker Change: Our user base is gradually diversifying and scary.
Speaker Change: With our expanding product profile.
Speaker Change: Depending a partner that's cheap and our integration work.
Speaker Change: I hope it doesn't ensure even grows slowly.
Speaker Change: Neither of the year remainder of the years.
Speaker Change: Actually I'm not sure.
Speaker Change: Okay.
Speaker Change: These coaches of key metrics latter when it began in 2020 by Q3, we have bad debt reflects that direction, our business is heading and to provide investors with a clear understanding of the strategic progress.
Speaker Change: We are making in building comprehension comprehensive global mobile data traffic share in the marketplace yet.
Speaker Change: Yes, 2025 marks our transformation year.
The one in which our business is pending from one six.
Speaker Change: I think from a single not a single partner to four partner.
Speaker Change: And they use a few cars to be released in Q3 will be crucial indicators all these transformation.
Speaker Change: We used the opt in minds with the optimism for the future in the mine.
Speaker Change: I will conclude with our guidance for the next quarter.
Speaker Change: For the second quarter of 2000, and fly 25, we expect total revenue will be between.
Speaker Change: Our U S dollar 23 million 205 million, representing an increasing.
Speaker Change: Two 7% to 11, 6% compared to the same Peoria ill forget 2020 fall I will now turn the call over to Mr. <unk>.
Mr. Chang: Thank you Mr Chang.
Speaker Change: One I wake up over our operational and financial highlights for the first quarter of 2025.
Mr. Chang: However, it is daily active telling me now.
Speaker Change: An important operating metrics for all parties.
Speaker Change: <unk> customer usage trends over that period.
Speaker Change: Reflective of our business performance.
Speaker Change: The first quarter at Tucson 25.
Speaker Change: Average day, a Ts were 300, and a solvent and 863 a.
Speaker Change: Of which 17000 and 803 owned by the company.
Speaker Change: And the 291060.
Speaker Change: 65 or 10, it's upon us.
Speaker Change: Representing a decrease of partner 3%.
Speaker Change: From this 309000 and 906.
Speaker Change: First quarter of Tucson.
Speaker Change: Paul.
Speaker Change: The average daily active terminal and it hurts.
Speaker Change: Quarter comfort.
Speaker Change: From price.
Speaker Change: 296000, and 597 from Columbia.
Speaker Change: Mobile and fixed broadband business.
Speaker Change: And if anyone from Goldman be life Dennis.
Speaker Change: I saw that and 219 from Colombia seems goodness and 6004 hundred 26 from alchemy, Iot thinness compared to 300.
Speaker Change: And 8375.
Speaker Change: 201.
Speaker Change: 829.
Speaker Change: And I found your one respectively in the first quarter to send plentiful.
Speaker Change: During the first quarter, 2025, 76, 2% EBITDA T or from you're calling one point, though in a national data connectivity service.
Speaker Change: And the 43 point, a well attribute that you're calling 2.0 local data connectivity service.
Speaker Change: In March Tucson, 25, the average daily.
Speaker Change: David.
Speaker Change: Data usage per terminal was one point 59 gigabyte.
Speaker Change: As of March 31, two signed 25 the company has.
Speaker Change: Tucson, and 870 <unk> Palmer.
Speaker Change: Three.
Speaker Change: Countries and regions.
Speaker Change: The company had 183 Hudson application with Citi mine.
Speaker Change: Roof and 14 pending.
Speaker Change: Approval.
Speaker Change: Why are the poorest same call was from 391 in Bangalore globally.
At March 31st 2025.
Speaker Change: Total revenue for the first quarter of Tucson, 25 were $18 6 million, representing an increase of three point to 4% from 18 point of 1 million you start up in the same periods of the Tucson plentiful Rev.
Speaker Change: Revenue from service in the first quarter of the Tucson, 25 was $14 2 million you start up with.
Speaker Change: Presenting an increase of four 9% from 13.5 million U S. Dollar in the same period, a Tucson plentiful revenue from service or the percentage of total revenue was 75.7% gearing.
Speaker Change: Uh huh.
Speaker Change: The first quarter of two signed 25.
Speaker Change: Slightly up from 74, 7% during the same period last year.
Speaker Change: Graphically speaking during the fourth quarter of a Tucson twenty-five Japan contributed 44% of our total revenue mainland China contributed 31.2% loss of America contributed <unk>, 9% and all of the regions.
Speaker Change: And the countries contributed the remaining 15.
Speaker Change: 5% compared to 49% 25, 3%.
Speaker Change: Pinpoint, 8% and 17% respectively in the first quarter of two Santana for overall gross profit was $9 7 million you saw that in the first quarter of two signed 25 reps.
Speaker Change: Representing a decrease of 341% from $10 million in the first quarter 2024.
Speaker Change: Gross margin in the first quarter of 275, plus tricky, one 7% compared to 55, 2% and same period Tucson plentiful.
Speaker Change: The gross margins on service was 57, 3%.
Speaker Change: First quarter 2005.
Speaker Change: Pay up to 65% in the same periods of Tucson plentiful.
Speaker Change: Gross margins on sales of product was 34, 3% in the first quarter of a Tucson 25.
Speaker Change: <unk> 226, 2% and same peer is a tucson plentiful.
Speaker Change: Excluding share based compensation total operating expenses were $9 9 million you saw us all 53% of total revenue in the first quarter Tucson 25, compared to eight point a five minute you stumped US all 47 total revenues in the same period in Tucson plentiful.
Speaker Change: We record and adjusted net income non-GAAP.
Speaker Change: Is there a point and a $4 million compared to 1.3 million you start out in the first quarter to the sudden 24 adjusted EBITDA was 1.4 million solar in the first quarter of 2025 compared to 1.7 million start up in the same period, a tucson plentiful.
Speaker Change: First quarter, two starting 25, we're at.
Speaker Change: <unk> and operating cash inflow of zero point $2 million compared to $1 $9 million in the same period, a tucson any false.
Speaker Change: For the first quarter to starting 25, our capital expenditure, what they're a point $3 million compared to 0.6 minutes, though that in the same period in 2024.
Speaker Change: We maintain a solid balance sheet with a cash cash equivalent.
Speaker Change: How do you one point to $1 billion.
Speaker Change: 31st two signed 25.
I'm from 30 point of $1 million at December 31st 2024.
Speaker Change: With that upgrade test.
Up for Q&A.
Speaker Change: Thank you.
Speaker Change: I will begin the question and answer session.
Speaker Change: To ask a question you May press Star then one on your telephone keypad.
Speaker Change: If your question has already been addressed or do you like to remove yourself from two please press Star then two.
Speaker Change: Today's first question will come from Theodore O'neill, with which people whose research. Please go ahead.
Speaker Change: Thank you and congratulations on the results for the quarter and your outlook.
Speaker Change: Mike My first question is about about the pet food product and if you could give us any highlights into the regions or the demographics of the customers you expect will be the.
Speaker Change: Most likely to.
Speaker Change: It would be early adopters of this product.
Speaker Change: Oh, yes.
Speaker Change: I think we are we will launch a week.
Speaker Change: Thinking of Barcelona, excuse me she anyway first you know along the way we allowed for the pet food.
Speaker Change: In each industry. So it caused a lot of the interesting. So it seems that we will launch this product in the end of May.
Speaker Change: For commercial launch.
Speaker Change: We have many products.
Speaker Change: Three men a typo.
Speaker Change: <unk> uses the fourth one is our wireless channel.
Speaker Change: While the channel.
Speaker Change: All our public channel, but I've got pet channel. So we approached a lot of the pet channel that got in Europe and Asia.
Speaker Change: Sure.
Speaker Change: Oh, sorry, you asked that.
Speaker Change: So we are really really good.
Speaker Change: Our commercial progress.
Speaker Change: Progress so it's a it's quite a chunky and I think we would be closer recently so in Q2.
Speaker Change: Let's force channel that second tier I know, it's a wireless carrier.
Speaker Change: While our mobile operator, Oh Oh.
Speaker Change: Well, it's a mobile phone with a whole bunch of operator. So late we have done to promote that you've seen all seem car into Ala pet fall and have the carrier to acquire or pet that uses so it's been a new where hep carry I know the old.
Speaker Change: Just from the traditional people I O T now expand too Pat that uses so we already have cellular carrier.
Speaker Change: Nearly finished the contract with the us about Oh.
Speaker Change: We say it all pet full product than our traditional AD you know Tony a channel. So oh, so it was a interesting to say.
Speaker Change: I'll put out so I've seen so far everything is progressing.
Speaker Change: Testing. So good are now waiting for the L. A.
Speaker Change: Commercial lines commercial wasn't available and.
Speaker Change: A decent chunk.
Speaker Change: Yes.
Speaker Change: That's very helpful.
Speaker Change: My second question is about how about sort of the.
Speaker Change: Tariffs that are being raised and lowered I'm wondering if that changes all these tariffs are having any impact on your business.
Speaker Change: Okay.
Speaker Change:
Yes.
Speaker Change: Yeah.
Speaker Change: So on the question regarding the tariff.
Speaker Change: So far we don't have we don't have a.
Speaker Change: Vacations.
Speaker Change: Got it.
Speaker Change: Tavis various.
Speaker Change: Between U S and China.
Speaker Change: We are we we have we have a stock stopped our product in U S. A U S. S. Ciano. So that's available for our stay out for a while.
Speaker Change: And also we are we have a we have out of sourcing from the manufacturers are in all the others say the line. We created manufacturers are associating that with manufacturers.
Speaker Change: Not a device in REIT land and all the all the countries, where we have half of them have a.
Speaker Change: No our target target SaaS up between the U S. And then just as its countries. So we we we expect we will.
Speaker Change: We spent in the U S market is.
Speaker Change: It's a growing market for our new finish line like what type of phone.
Speaker Change: Like is Oh teas, our Iot solutions, so well, we prepare that will prepare us as the solutions and the place to manufacture a product to to overcome this type of spirits are between U S and China.
Speaker Change: Okay. Thank you very much that.
Speaker Change: It looks my questions.
Thank you and our next question today comes from Vivien Zone with Diamond equity Research. Please go ahead.
Vivien Zone: Oh no. Thank you so much. So firstly can you explain in detail. The reason for the increase in that cost of services and the rather you would take an IRA or Kentucky coffee consumption.
Okay.
Vivien Zone:
Speaker Change: Yeah, you have you have a you have about two relevant and said why are you said regarding the cost of service, that's reflecting a U S. If we discuss that as Klaus said the service gross margins are a little be lower.
Speaker Change: Lower than the same period last year and that's because we are there.
Speaker Change: Yeah a mixture.
Speaker Change: So a different sales categories that across our region and country for instance.
Speaker Change: This is the first quarter of this year and our.
Speaker Change: Are the bundling or the pundits are bound instead of bromine as a service for a Chinese Chinese outbound travelers.
Speaker Change: An increase a significant.
Speaker Change: There's a there's a Chinese outbound travelers.
Speaker Change: Rent rent, our Ala, telling me and us a Wi Fi hotspot 10 minutes before that for their ROE means connections that are traveling all the bonds. So.
Speaker Change: In that in that case, and there's a there's a revenue generated by the Chinese other bound travel not have us to get vacant.
Speaker Change: Weight in the overall our service so that's the that's something.
Speaker Change: Impact our overall as a service margins a little bit lower than I, just didn't hear it a lot yes.
Speaker Change: Is that the first that's the answer to your first question is regarding the cost of the service and the second is regarding the expenditures related to expansion of Dennis Yes.
Speaker Change: As if we just close the first quarter. This year. So we are we we spent.
Speaker Change: More expenditure than.
Speaker Change: The first that first.
Speaker Change: Quarter of last year is that the extra as expeditious, Oh, our sales and marketing for the new business. So we are we attend.
Speaker Change: Quite a lot of mob market its ambitions across our worldwide.
Speaker Change: And we will invest there.
Speaker Change: The more than $1 billion.
Compared with last year as well on this our marketing and promotions. We believe this is the expectation on the market well well.
Speaker Change: We are bringing more volumes.
Speaker Change: <unk> done that to all our futures are curious so I think that that's a the revenue was related to the new new thing nine well come into account.
Speaker Change: This year.
Speaker Change: Yes, so one.
Speaker Change: One other matrix.
Speaker Change: As a way to.
Speaker Change: Close is a daily active tell me not related.
Speaker Change: A three new then it's nine.
Speaker Change: Therefore, our Iot daily after terminal.
Speaker Change: The increased traffic compares.
Speaker Change: Yes same.
Speaker Change: Curious.
Speaker Change: So this year, we expect that three new finish my Iot same and and alive serious they are.
Speaker Change: I determine that number will increase oh, the wound you time compared with last year. So we are we are on the right truck to deploy all of our strategies from one I've been with my M. B B.
Speaker Change: Two four I've been Tonight to grow.
Speaker Change: We believe that I think that we followed our rise strategy is to support growth.
Speaker Change: Okay. Okay. Okay, I see that makes sense. My next two questions that it's about that partnership you mentioned it can you share like can you just provide some information on the areas of collaboration is fantasy.
Speaker Change: In the coming months.
Speaker Change: Yeah.
Speaker Change: Yeah.
Speaker Change: So.
Christian I don't know if you mentioned some partners, but in the past our partnership is more like a intonation that data and the local mobile broadband that's all more partners in there.
Speaker Change: And the airport to airport in that.
Speaker Change: No.
Speaker Change: So we have three new product so all our partner become.
Speaker Change: And upon them to become more and more partner for example, clothes that with our carrier customer interest in our product not quite to unfold.
Speaker Change: Mobile virtual operator, and a tier two tier three carrier operator. They are now what are the interesting Allah same case seem trio.
Speaker Change: Leafy stuff teed up to pick them pulled down because we bring inhalation of lumi to more pad watch operator, let these ne will happen until a police industry called mobile operator.
Speaker Change: And the second with that.
Speaker Change: Tier two tier three carrier.
Speaker Change: In Peru are they are known in backup power and that alone means service quality.
Speaker Change: Normally compared with a tier one carrier tier two tier three carrier they are looming and a quality of naphtha, one patent nice way, where you're weak now are working with us they can.
Speaker Change: Can be kind of superior to the number one off of carrier for the quality of the loans.
Speaker Change: Oh, so that we can have a carrier in tier two and more about what's the upgrade to compromise after that.
Speaker Change: <unk> network of courage and local so normally they need.
Speaker Change: They have a few invest them in the base station they have pool coverage with all solution now although they are courage. They couldn't use they are reaching the same car origin the inflammation.
Speaker Change: Their courage they couldn't use all our you know us empower and data traffic. So that's quite happening to you know improve.
Speaker Change: Our quality you follow me and create a new revenue.
Speaker Change: For all of Us.
Speaker Change: True.
Speaker Change: Oh.
For pet food I think its very popular no matter as tier one or tier two carrier.
Speaker Change: Ball-carrier, they all like the least solution because that will create new revenue for these are these partners. So and that's that's the first product in the industry you know carry a promoter that as much plot.
Speaker Change: Now you know traditional ER other channels. So they can for example, buy data and keep a free you know Archie bison processual, we'd have them to develop.
Speaker Change: That took and the new user thrown a pet market. So oh, so it was a lot the only call.
Speaker Change: All our lives theory of pull that can enhance the loyalty of our customer can command a retention of customer become more loyalty. So.
Speaker Change: Having a customer you know.
Speaker Change: Ah too to get more revenue from the rotation, although it's not a I think the compounding with already assumed in our lifeboat that with a bundled package it hasn't become more loyalty so that the need for all these reasons and that doesn't mean in the last year, we were where we have very few.
What is churn at visa all carrier partner and now <unk> seen since the end, obviously and and and not and last week a M O.
Speaker Change: What Congress so we get the.
Speaker Change: A lot tougher Ah interesting. So recently I think we are close some some deal with is Korea U Penn waiting for all our I O in the in the in the coming months.
Speaker Change: And and refinery. So we also have a we have invested into investing in our traditional multi port then put that in.
Speaker Change: Oh, what a traditional put that major it's useful tiger.
Speaker Change: A follow up people travel outside.
Speaker Change: Our new production once the wife, one hung ER to ER.
Speaker Change: To let our users are not only for Teva ourselves in our home office, even in the S right now.
Speaker Change: Nathan lead towards to each of the account and and and device just one device one account they can enjoy.
Speaker Change: He joined the best natural walk a quality worldwide.
Speaker Change: Faster connection Oh, so they can get the most costly effect. So for example at our home office the way people use the free Wi Fi off with Wifi, All Wi Fi, but once the Wi Fi public is poor.
Speaker Change: Uh Huh, it's bad we can backup pilot fortunate Apache network that means that we can provide the best AR collection and pasta in fact getting to work with one device. One. Okay. So here also is more enterprising user not interesting all travel users interested in working with us So I just.
Speaker Change: These are information about a new partner and done.
Speaker Change: New channel.
Speaker Change: Working with us.
Speaker Change: Yeah.
Okay got it that's very helpful. Thank you that's all my questions.
Speaker Change: Thank you. This concludes the question answer session I would like to turn.
Daniel Golf: Turn the call conference back over to Daniel Golf for any closing remarks.
Speaker Change: Thank you once again for joining US today. If you have further questions. Please feel free to contact you called in Investor relations through their contact information for our views on our websites or speak to our Investor Relations, Paul Kris Simpson otherwise story.
Speaker Change: We look forward to speaking to you all again, our NASA quarterly cool. Thank you.
Speaker Change: Thank you. This concludes today's conference call. We thank you all for attending today's presentation you.
Speaker Change: You may now disconnect your lines and have a wonderful day.
Speaker Change: Yeah.
Speaker Change: [music].