Financial Data and Key Metrics Changes - For Q4 2024, revenue was $5 million, a decrease of approximately 42% from $8.6 million in Q4 2023, but an increase of about $300,000 or 7% compared to Q3 2024 [17] - Total revenue for 2024 was $20.6 million, down 50% from $40.9 million in 2023, primarily due to the conclusion of the Verizon Family Safety Contract and a decline in Safe and Found Family Safety revenue [18] - Gross profit for Q4 2024 was approximately $3.8 million, down from $6.4 million in Q4 2023, while gross margin improved to 76% from 75% [21] - GAAP net loss for Q4 2024 was $4.4 million or $0.25 loss per share, compared to a net loss of $6.7 million or $0.74 loss per share in Q4 2023 [25] Business Line Data and Key Metrics Changes - Family Safety revenues in Q4 2024 were $3.8 million, a decrease of approximately 49% compared to Q4 2023, primarily due to the end of the Verizon Family Safety Contract [18] - CommSuite revenues for Q4 2024 were $1.1 million, an increase of approximately $600,000 compared to Q4 2023, driven by subscriber growth [19] - ViewSpot revenue was nominal in Q4 2024, declining by approximately $500,000 compared to Q4 2023 due to the end of a contract [19] Market Data and Key Metrics Changes - The company is experiencing strong interest in its SafePath offerings, particularly SafePath Kids, which has shown significant appeal to parents seeking safer mobile experiences for their children [14][38] - The senior safety market is identified as a rapidly growing segment, with the population aged 65 and older growing at a rate up to four times faster than younger populations [33] Company Strategy and Development Direction - The company is shifting focus towards three family safety offerings: SafePath Kids, SafePath OS for kids' phones, and SafePath OS for seniors [31] - The strategy includes leveraging existing phone inventory from popular manufacturers to deliver SafePath OS products quickly to market [40] - The company aims to align its innovations with the core business objectives of mobile operators, focusing on adding new subscribers and selling more devices [41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to growth and profitability in the second half of 2025, driven by new customer offerings and market demand [73] - The company is confident in its ability to capitalize on the growing interest in its SafePath products, indicating a strong pipeline of opportunities [41][52] Other Important Information - The company reported cash and cash equivalents of $2.8 million as of December 31, 2024 [28] - There were payment delays from a major customer due to a change in their payment platform, but this issue has been resolved [29] Q&A Session Summary Question: How will success be framed for the TuYo service? - Management noted that Orange Spain's success with TuYo is attracting interest from other carriers, with a significant portion of sign-ups coming from competitors [60] Question: What is the timeline for bringing new carriers on board? - Management indicated that there is strong interest among carriers for a summer launch, with ongoing demos and trials [64] Question: What is the status of the senior safety phone product? - Management confirmed that the core SafePath OS product is ready, and there is strong interest from carriers for launching this offering [70] Question: What are the expectations for sequential growth in 2025? - Management anticipates a return to growth and profitability in the back half of the year, driven by new customer offerings [73]