Financial Data and Key Metrics Changes - Revenue for Q2 2025 increased by 20.3% year over year to $278.2 million, and by 62.6% compared to 2023 [5][24] - Same restaurant sales grew by 2.1%, primarily driven by menu price and product mix, with guest traffic remaining approximately flat [24] - Adjusted EBITDA for the quarter was $42.1 million, reflecting a 22.6% increase compared to 2024 [29] - Net income for the quarter was $18.4 million, compared to $16.8 million in 2024, with diluted EPS at $0.16 [30] Business Line Data and Key Metrics Changes - The company opened 16 net new restaurants, bringing the total to 398 locations across 27 states and the District of Columbia [5][24] - Restaurant level profit margin was 26.3%, slightly down from 26.5% in 2024, but reflecting a 19.6% increase in dollar terms [26] - New restaurant productivity was approximately 109%, exceeding the target of $2.3 million in average unit volumes [26] Market Data and Key Metrics Changes - The Mediterranean cuisine category continues to show strength, with a three-year traffic growth of 19.7% and increasing market share [32] - The company is expanding into new markets, including Pittsburgh and Michigan, with positive reception from customers [8][9] Company Strategy and Development Direction - The company aims to reach at least 1,000 restaurants by February 2032, focusing on expanding its Mediterranean concept [9][32] - The "Project Soul" initiative is designed to enhance the guest experience through inviting restaurant designs [9] - The company is committed to culinary innovation, with new menu items like chicken shawarma and cinnamon sugar pita chips being tested and rolled out [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic pressures but expressed confidence in the long-term trajectory and structural strength of the business [5][32] - The company is seeing a reacceleration in same restaurant sales as it moves into Q3, driven by strong demand for Mediterranean cuisine [25][32] - Management emphasized the importance of maintaining operational excellence and enhancing guest experiences as the company scales [15][18] Other Important Information - The company has zero debt and $385.8 million in investments, with access to a $75 million undrawn revolver [31] - The effective tax rate for Q2 was 22.5%, with expectations for the full year to be between 12-15% [30] Q&A Session Summary Question: Could you elaborate on the same store sales side? - Management noted that macro pressures are present but emphasized the strong performance of the 2024 restaurant class, which exceeded expectations [35][38] Question: Can you help level set where you're trending in the third quarter? - Management indicated that the trend is continuing to improve, with acceleration in same restaurant sales [42] Question: Has the company evaluated its marketing media mix? - Management acknowledged the opportunity to increase marketing spend as awareness grows in new markets, while maintaining a long-term strategic focus [44][46] Question: Does the honeymoon period mean first year comps are negative? - Management confirmed that while some restaurants in the 2024 class are delivering strong results, they are impacting same restaurant sales due to the honeymoon effect [48][53] Question: What do you attribute to the July improvement? - Management attributed the improvement to the end of the steak launch lap and enhancements in guest experience [67][69] Question: Can you talk about the assistant manager edition? - Management explained that the rollout will begin in November, aimed at strengthening leadership and operational support in high-volume restaurants [72][75] Question: Can you talk about the 2Q mix? - Management stated that there were no significant changes in mix, and chicken shawarma will be priced at a premium compared to other chicken items [78][79] Question: What marketing opportunities could open now that you've crossed $1 billion in sales? - Management indicated that achieving this milestone allows for more effective marketing strategies and leveraging investments across scaled markets [82][85]

Financial Data and Key Metrics Changes - Consolidated revenues increased by 82% year-over-year and 18% sequentially, reaching $6,600,000 for the quarter, driven by the acquisition of Camarillo and higher revenues from existing campuses [5][6] - Cash flow used in operating activities improved significantly to less than $1,000,000 for the quarter, compared to $5,000,000 used in Q1 [6] - The company expects to reach cash flow breakeven on a consolidated basis by the end of the year [6] Business Line Data and Key Metrics Changes - Revenues from wholly owned subsidiaries increased by 20% sequentially from the first quarter, with expectations for a significant increase in Q3 and Q4 as new campuses are leased [7] - Operating expenses increased due to onboarding personnel in anticipation of campus openings, but cash flow from operations generated a positive $2,200,000 in the quarter [8] Market Data and Key Metrics Changes - The revenue capture potential is currently at about $140,000,000, with expectations to approach $200,000,000 by the end of the year [9] - Miami has proven to be a strong market, with lease rates increasing from $32 per square foot to around $46 [44][46] Company Strategy and Development Direction - The company is focusing on Tier one airports for site acquisitions, aiming to maximize revenue capture [27] - A pilot project for preleasing hangars at campuses not yet under construction has been initiated, showing promising initial results [14][29] - The company is vertically integrating construction efforts to improve quality, accelerate construction pace, and lower costs [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability expectations in the near term due to projected revenues from new campuses [6][57] - The company is optimistic about the impact of preleasing on credit profiles and future debt offerings [93] Other Important Information - The company is pursuing a $200,000,000 warehouse bank debt facility to finance upcoming capital developments, which is expected to close soon [22][24] - The SH-37 hangar prototype is now fully standardized, aiming to increase speed, decrease costs, and improve quality [95][96] Q&A Session Summary Question: Can you provide details on actual revenues as compared to forecasted revenues? - The company is tracking to exceed projections for various campuses, with Miami showing strong market performance [41][43] Question: Can you provide details on the preleasing hangar space at Bradley and Dallas Airports? - Initial results from preleasing are positive, with advantageous introductory pricing for first residents [47][48] Question: Do you feel like you are seeing scale gains in line with expectations? - The company expects to see operating leverage as new campuses start cash flowing, with fixed SG&A expenses benefiting from increased revenues [50][51] Question: What are the drivers for higher than forecasted revenue at campuses? - Key drivers include higher rents due to scarcity, fuel margin revenues, and the ability to achieve occupancy levels above 100% [56][58] Question: Are you seeing any changes to the electric aviation industry? - The company is prewiring campuses for electric aviation and believes regulatory hurdles have been reduced [66][67] Question: What aspects differentiate Sky Harbor from FBOs? - The company emphasizes its service offerings and training programs that enhance safety and efficiency, differentiating it from traditional FBOs [73][78]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was approximately $9.1 million, a 0.4% increase compared to the same quarter in 2024, excluding $800,000 from divested operations [4][5] - Managed services revenue increased by 12.9% when excluding the divested Hozu operations [5] - Net income for Q2 2025 was $1.2 million or $0.07 per share, compared to a net loss of $2.2 million or negative $0.13 per share in Q2 2024 [9][10] - Adjusted EBITDA for Q2 2025 was $1.3 million, a significant improvement from a negative $2.2 million in the prior year [9][10] Business Line Data and Key Metrics Changes - Managed services bookings for Q2 2025 totaled $5.6 million, bringing total bookings for the year to date to $13.1 million, compared to $9.6 million in the same period of 2024 [5][6] - The decline in bookings was attributed to timing differences, a strategic shift towards larger accounts, and macroeconomic pressures affecting marketing budgets [6] Market Data and Key Metrics Changes - As of June 30, 2025, managed services backlog was $11.5 million, representing unrecognized revenue from ongoing contracts [7] - Total cost of revenue was $4.4 million, or 48% of revenue, down from 57% in the prior year [8] Company Strategy and Development Direction - The company has committed to a business model focused on higher growth and profitability, reducing international exposure and emphasizing larger, recurring accounts [14][15] - New business was secured from notable clients such as Jeep, Nestle, and Kellogg's, indicating a strong sales pipeline [15] - A new technology initiative was launched to enhance campaign management and integrate more AI into business processes [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a strong pipeline and the addition of large customers as key growth drivers [16][33] - The company is strategically preparing for M&A opportunities while ensuring integration readiness [21][22] Other Important Information - The company has no debt and maintains a cash and investment balance of $50.6 million, positioning it well for organic growth and acquisitions [11] - Operating cash flow is positive, covering approximately half of the stock repurchase program investments [10][11] Q&A Session Summary Question: Can you elaborate on M&A activity? - Management confirmed they are actively engaging in discussions for potential M&A, emphasizing a strategic and responsible approach to capital use [21][22] Question: What about valuations in the private markets? - Management stated they will be reasonable and not overpay for acquisitions, aiming for mutually beneficial deals [24] Question: Can you discuss the decline in bookings and future revenue growth? - Management explained the decline was due to timing issues, a shift towards more profitable accounts, and macroeconomic factors, but expressed confidence in the long-term success of the new model [26][27] Question: What are the expectations for operating expenses going forward? - Management indicated that operating expenses are expected to remain flat, with some efficiencies allowing for growth without proportional cost increases [29][30] Question: Is there any revenue guidance for the remainder of the year? - Management refrained from providing specific revenue guidance but noted a strong pipeline and relationships with large customers [32][33] Question: Is the new VP of Talent Acquisition a full-time position? - Management confirmed that the new VP is full-time and will focus on attracting talent across various areas, not just marketing [34]

Financial Data and Key Metrics Changes - The company reported net sales for YUPELRI of approximately $66 million for the quarter, representing a 22% year-over-year increase, marking the highest Q2 results since launch [4][8] - Collaboration revenue grew by 31% year-over-year, driven by YUPELRI's net sales growth, leading to improved brand-level profit margins [22][24] - Non-GAAP losses improved to $4.2 million compared to $6.3 million in the prior year, excluding one-time items [25] Business Line Data and Key Metrics Changes - YUPELRI's hospital channel volume increased by 31% compared to 2024, with a long-acting nebulized market share in hospitals reaching approximately 20% [10][11] - The company completed the $225 million sale of its remaining royalty interest in Trelegy to GSK, significantly strengthening its balance sheet [4][22] - Ampreloxetine's Phase 3 Cyprus trial is nearing completion of enrollment, with expectations to report top-line data approximately six months after [5][28] Market Data and Key Metrics Changes - YUPELRI received approval in China, triggering a $7.5 million milestone payment, with plans for commercialization led by Beatrice [4][11] - GSK reported an all-time high of $1.1 billion in Trelegy sales for Q2, contributing to a year-to-date sales total of approximately $2 billion, an 8% increase year-over-year [22] Company Strategy and Development Direction - The company is focused on enhancing shareholder value through strategic reviews and disciplined capital management [6][28] - Ampreloxetine is positioned as a potential transformative therapy for patients with multiple system atrophy (MSA), with a targeted addressable population of approximately 40,000 patients in the U.S. [21][28] - The company aims to maintain a strong financial position while preparing for the upcoming data readout from the Cyprus study [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $250 million sales threshold for YUPELRI, which would trigger a $25 million milestone payment [9][10] - The company anticipates a stronger second half of the year compared to previous expectations, creating a solid financial foundation as it approaches the Cyprus data readout [26][28] - Management highlighted the importance of the upcoming Cyprus trial results, which could redefine the standard of care for patients with MSA [28] Other Important Information - The company ended the quarter with approximately $340 million in cash and no debt, indicating strong cash management [6][25] - The company is preparing for NDA readiness in parallel with the Cyprus study, with modules already in advanced stages of drafting [19] Q&A Session Summary Question: What contributed to the improved pull-through for YUPELRI this quarter? - Management attributed the improved pull-through to the shift of volume to specialty pharmacy, which enhances patient support and fulfillment [32][35] Question: What is the outlook for YUPELRI in China and the enrollment trends for Cyprus? - Management noted that Beatrice will lead the commercialization in China, and the enrollment profile for Cyprus is expected to be similar to previous studies [41][42] Question: How will pricing for Ampreloxetine be determined? - Management indicated that while it is early to finalize pricing, analysis of recent rare neuro drug launches suggests an average price around $380,000 per year [47] Question: What are the expectations for SG&A increases associated with Ampreloxetine? - Management expects SG&A to remain stable through the second half of the year, with potential increases post-data readout if results are positive [54][56]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 grew 207% year over year to $1,200,000,000, marking the first quarter with both $1,000,000,000 in revenue and $200,000,000 in adjusted operating income [5][21] - Adjusted operating income for Q2 was $200,000,000, with an adjusted operating income margin of 16% [22] - Net loss for the quarter was $291,000,000, an improvement from a net loss of $323,000,000 in Q2 2024 [23] - Adjusted EBITDA for Q2 was $753,000,000, scaling more than 3x year over year, with an adjusted EBITDA margin of 62% [24] - Capital expenditures (CapEx) in Q2 totaled $2,900,000,000, up over $1,000,000,000 quarter over quarter [25] Business Line Data and Key Metrics Changes - The company ended Q2 with $30,100,000,000 in contracted backlog, up $4,000,000,000 from Q1 and doubling year to date [6][21] - Significant growth was noted in the VFX cloud service product, with a fourfold increase in usage [7] - Expansion contracts were signed with both hyperscale customers, indicating strong demand across various sectors [20] Market Data and Key Metrics Changes - The company is experiencing unprecedented demand for AI cloud services, with a structurally undersupplied market [5][20] - Increased adoption in sectors such as healthcare, finance, and media is driving demand for specialized cloud infrastructure [9][10] - The company is expanding its footprint to meet intensifying demand signals from customers [6] Company Strategy and Development Direction - CoreWeave is focused on vertical integration to enhance operational efficiencies and reduce costs, exemplified by the proposed acquisition of Core Scientific [16][18] - The company aims to scale its infrastructure rapidly to meet customer demand, with plans to deliver over 900 megawatts of active power by year-end [6][31] - Investments in data center infrastructure are being prioritized to support growth and meet the evolving needs of customers [15][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strong demand for AI services, despite a structurally supply-constrained environment [20][29] - The company anticipates Q3 revenue in the range of $1,260,000,000 to $1,300,000,000, with adjusted operating income between $160,000,000 to $190,000,000 [29][30] - Full-year revenue guidance has been raised to a range of $5,150,000,000 to $5,350,000, driven by ongoing strong customer demand [31] Other Important Information - The company has successfully raised $6,400,000,000 in the capital markets, reducing its cost of capital [20][27] - A new flexible capacity product is being introduced to help customers manage demand more effectively [12] Q&A Session Summary Question: Renewal of hyperscaler contracts and achieving better return on assets - Management focuses on expansion rather than renewals, indicating confidence in continued business with hyperscaler clients [40][41] - Cost savings and operational efficiencies are being pursued through acquisitions and disciplined scaling [42][43] Question: Demand and supply dynamics - The company is experiencing significant demand for both training and inference workloads, with supply constraints primarily at the power level [47][51] - Management maintains that the market is structurally supply constrained, impacting the ability to meet demand [68] Question: Government interest in AI data centers - Various governments are exploring partnerships for AI infrastructure, with differing levels of openness to US-based providers [56][57] Question: Backlog figures and future expectations - The $30,100,000,000 backlog reflects significant demand, with large contracts expected to move the needle in the future [84][85] Question: Repurposing older GPU clusters - Older GPU clusters are being successfully recontracted for additional terms, primarily for inference workloads [88] Question: CapEx timing and cost implications - CapEx is expected to ramp up in Q4, with costs incurred ahead of revenue generation due to infrastructure deployment [96][98]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $11.7 million, an increase from $11.4 million in Q1 2025, driven by new sales and upsells despite some offsets due to migration activities to the new Marchex Engage platform [9] - Cash increased to $10.5 million from $10 million at the end of Q1 2025, with expectations for stable to favorable cash balances in Q3 2025 [10] - The company reported positive net income of approximately $100,000 for Q2 2025 [10] Business Line Data and Key Metrics Changes - The company launched the Marchex Engage platform, which is expected to drive future growth through new user interfaces and AI solutions [4][5] - The Engage platform integrates AI-driven conversation intelligence, focusing on vertical markets such as automotive, healthcare, and home services [5][6] Market Data and Key Metrics Changes - The company noted that new federal tariffs on imports have adversely impacted various industries, including automotive and auto services, creating increased uncertainty in the market [11] - The current macroeconomic environment has also introduced challenges, affecting customer behavior and revenue predictability [11] Company Strategy and Development Direction - Marchex is focused on expanding its market opportunities through partnerships with Fortune 500 companies and launching innovative products [4][6] - The company aims to leverage first-party data and AI insights to enhance customer engagement and drive measurable outcomes [6][7] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by migration activities and macroeconomic factors, which may delay achieving annual revenue and adjusted EBITDA goals for 2025 [11][12] - Despite these challenges, the leadership team remains optimistic about executing their strategic plan and believes they are well-positioned for future growth [13] Other Important Information - The company anticipates that both revenue and adjusted EBITDA will sequentially increase in Q3 2025 compared to Q2 2025, with adjusted EBITDA potentially increasing by more than 50% [10] - The migration to the new Engage platform is mostly completed, but it has short-term revenue impacts due to timing and product utilization [11] Q&A Session Summary Question: Did bookings improve sequentially in the second quarter? - Management confirmed that sales or ACV was sequentially higher [18] Question: Any comments on the pipeline? - Management highlighted the progress with the Engage platform and upcoming product launches, which are expected to drive growth [19][20] Question: How is the demand for your service use case versus sales? - Management noted increasing average revenue per sale associated with the Engage platform and expressed excitement about expanding channel opportunities [23][24]

Financial Data and Key Metrics Changes - Fourth quarter revenue was $480.7 million, exceeding the high end of revised guidance, with non-GAAP EPS of $0.88 [16] - Fiscal year 2025 net revenue was $1.65 billion, up 21% from fiscal year 2024 [19] - Non-GAAP gross margin for the fourth quarter was 37.8%, up 260 basis points sequentially and 1,000 basis points year over year [17] - Non-GAAP operating margin for the fourth quarter was 15%, up 420 basis points sequentially and over 2,000 basis points year on year [17] Business Line Data and Key Metrics Changes - Cloud and networking segment revenue for Q4 was $424.1 million, increasing 16% sequentially and 67% year over year [20] - Industrial tech segment revenue was $56.6 million, down 6% sequentially but up 6% year over year [21] - Cloud and networking segment profit was 23.6%, up 360 basis points sequentially and 1,350 basis points year over year [21] Market Data and Key Metrics Changes - The company expects to surpass $600 million in quarterly revenue by June 2026 or earlier, driven by strong demand in cloud and AI applications [6][7] - Cloud revenue is growing over 20% annually, with expectations for continued strength in components and cloud modules [6][37] Company Strategy and Development Direction - The company is focusing on three significant growth areas: cloud modules, optical circuit switching (OCS), and co-packaged optics (CPO) [10] - The company is positioned to capture significant value from the AI infrastructure market, with technologies projected to become multibillion-dollar markets within five years [6] - The company is expanding its manufacturing capacity to meet high demand, particularly in the cloud and networking segment [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained growth driven by the rapid adoption of AI, highlighting the effectiveness of their strategy and operational resilience [14] - The company anticipates a breakout year for laser chip sales in 2026, with demand expected to outpace supply [9] - Management noted that the tariff situation is fluid but does not expect material changes to business operations due to tariffs [53][56] Other Important Information - The company invested $59 million in CapEx during Q4, primarily focused on manufacturing capacity to support cloud customers [20] - The company is transitioning from three-inch to four-inch wafers to increase capacity [102] Q&A Session Summary Question: Update on OCS award and revenue trajectory - Management indicated that the OCS revenue is ramping better than expected, with significant revenue anticipated in early 2026 and a more meaningful inflection point in the second half of 2026 [29][30] Question: CPO opportunity and competitive landscape - Management feels confident in maintaining a competitive edge in the CPO market due to unique power levels and reliability of their lasers [32] Question: Contributions to the $600 million revenue target - Management expects continued strength in components, significant contributions from cloud modules, and revenue from OCS to help achieve the target [37] Question: Semiconductor tariffs impact - Management believes their products are exempt from new tariffs and does not expect material impacts on operations [53][56] Question: EML wafer fab capacity and pricing dynamics - Management confirmed they are transitioning to larger wafers to increase capacity and anticipate pricing discussions to become more significant due to limited supply and high demand [102][104] Question: Profitability of OCS product offering - Management stated that OCS will be significantly above corporate margin averages and will be accretive to margins as volume ramps up [110]

KinderCare Learning Companies (KLC) Q2 2025 Earnings Call August 12, 2025 05:00 PM ET Speaker0Good afternoon, ladies and gentlemen, and welcome to the KinderCare Second Quarter twenty twenty five Earnings Conference Call. At this time, all lines are in a listen only mode. Following the presentation, we will conduct a question and answer session. This call is being recorded on Tuesday, 08/12/2025. I would now like to turn the conference over to Ms.Olivia Keer, Vice President of Investor Relations. Please go ...

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $8.3 million, compared to $7.1 million in Q1 2025 and $8.5 million in Q2 2024, indicating a sequential increase driven by product shipments in the home and enterprise market [26] - Non-GAAP gross profit margin for Q2 2025 was 46%, down from 49.9% in Q1 2025 and 51% in Q2 2024, reflecting a unique product mix [26] - Non-GAAP operating expenses decreased to $9.7 million in Q2 2025 from $10.4 million in Q1 2025 and $12.8 million in Q2 2024, showing effective cost reduction measures [27] - The net loss for Q2 2025 was $5.3 million, or a loss of $1 per share, compared to a net loss of $6.5 million in Q1 2025 and $7.7 million in Q2 2024 [28] - Cash and cash equivalents at the end of Q2 2025 were $14.3 million, down from $18.5 million at the end of Q1 2025 [28] Business Line Data and Key Metrics Changes - Home and enterprise revenue was approximately $7.1 million in Q2 2025, while mobile revenue was approximately $1.2 million [26] - The mobile business saw a similar revenue profile to the prior quarter, with shipments supporting residual demand from previously launched smartphone models [14] - Revenue from the home and enterprise market increased over 20% sequentially, driven by a combination of seasonal demand recovery and ramping shipments of new SOCs [18] Market Data and Key Metrics Changes - The TrueCut Motion platform has been credited with three new theatrical releases, indicating growing acceptance and demand in the market [10] - Titles utilizing TrueCut Motion have achieved over $4 billion at the box office, demonstrating the format's value to studio partners [12] - The mobile market is expected to remain flat, with Chinese OEMs focusing on differentiation to expand globally [33] Company Strategy and Development Direction - The company is focusing on two defined approaches in the mobile segment: expanding the target market with a low-cost mobile graphics accelerator and pursuing premium gaming experiences [15] - The strategic review process for the Pixelworks Shanghai subsidiary is nearing closure, with potential new ownership structures being evaluated [23] - The company aims to reach profitability for its Shanghai subsidiary by Q4 2025, despite delays in mobile revenue recovery [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the TrueCut Motion format, anticipating it to become a standard for premium large format cinemas [12] - The company is better positioned to drive bottom-line results from a small uplift in revenue due to previous cost structure reductions [22] - Management noted that the overall market for projectors is expected to remain similar to 2024, with no significant impacts from global trade dynamics observed so far [18] Other Important Information - The company received approximately $1.6 million in cash subsidies as part of China's Little Giant program, aiding in R&D expenses [27] - The company completed all scheduled end-of-life shipments of transcoding products in Q4 2024, with potential one-time orders from prior customers being evaluated [19] Q&A Session Summary Question: Why are mobile customers in China emphasizing custom ASIC? - Management indicated that differentiation is key for Chinese OEMs in a flat market, as they seek to expand globally and compete against established brands [33][38] Question: Will the transcoding one-time customer revenue hit in Q3 or Q4? - Management confirmed that the revenue from the transcoding order would be recognized in Q4 [42] Question: How will Pixelworks be different post-transaction regarding the Shanghai division? - Management stated it is too early to provide details on the strategic direction post-transaction [44] Question: How broad is the ASIC design and IP application? - Management clarified that the IP is not limited to smartphones and can be applied in tablets, AR/VR markets, and other display technologies [48] Question: What is driving the strength in the home and enterprise market? - Management noted that the strength is partly due to a higher ASP of new SOCs and stocking needs from customers [52]

CXApp (CXAI) Q2 2025 Earnings Call August 12, 2025 05:00 PM ET Speaker0Greetings. Welcome to the CXAI second quarter two thousand twenty five earnings call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference call is being recorded.Now I would like to turn the call over to your host, Karam Sheikh, chairman and CEO of CXAI. Please go ahead.Speaker1Thank you, operator. Good afternoon, everybody. I'm joined ...