1life Healthcare (ONEM) 18 Mar 202019 Q4 Earnings call transcript

Good afternoon ladies and gentlemen, and welcome to the One Medical Fourth Quarter and Full Year 2019 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to turn conference over to Rose Salzwedel, Director of Investor Relations at One Medical.

begin. may You

and Good XXXX Carmen. the welcome One Officer and to today, Bjorn Medical; Thank Chief Thaler, quarter afternoon earnings fiscal Financial CEO Chair Rubin, fourth Amir on of call. Medical One our and you, are of Dan and Form our all President With One call earlier as well today, of be on X-K to in SEC, results available related the furnished A which at Medical. disclosure our website found of as in can complete investor.onemedical.com. press issued our our release me

As the call. a website available reminder, following today's will our call is being recorded on the replay and the of conclusion be

of uncertainties. found is provided note, reiterate nor guidance the through to it policy call, understanding be public on such our through results. done neither today's can any statements press filed to are is A unless most financial differ in assumptions part the or Of forward-looking and any be release comments financial or to FX on update Actual Please Form a X-K. make adjust to disclaim today's And materially Form the to and in One factors aid GAAP it expectations, we’ll disclosure, also recent the also will Medical forward-looking we risk statements. to our weeks. as discuss coming are risks various metrics refer results certain of believe in and with As subject These may SEC statements and historical non-GAAP the today, XX-K metrics management's earnings that the we our we the comparable Form release. based reconciliation current obligation outlook. and views, in

time dynamic the greater metrics provide nature call, in may not updates in may of one and future. we be into the During incremental to may we may business. These details or our the provide offer insight

your to prepared questions. for And I'll to Amir Bjorn and and over that, remarks with call take their turn the

to you Thank you, during you with speak extraordinary for Rose, everyone, so times. us and thank joining today. and welcome particularly, pleased these We're

IPO happy we One are we those reconnect Medical, met for during our new For today; road to welcome. those show, to

As Medical of and earnings strategy first let’s opportunity. brief One our our this begin call overview model, the with is together,

We then our regards to comments XXXX results review will also share then we'll and COVID-XX. with

One Medical is and based health powered care with inviting convenient digital technology a to click. an office membership work, people care primary and where live seamless and shop, platform,

members reducing better vision is care millions of better and Our to health with delight while costs.

constrained state offices, powered all, medical the and through providers, We personal lack of across and healthcare Consumers Our mission believe models. healthcare consumers, include technology that experience, uninviting clinical studies. dissatisfied are in stakeholders networks. health centered our These the is transform is coordination visits, key clinical for human employers, short a to frustrated. current of stakeholders we with healthcare accessibility,

interactions Employers on services offerings, many health looking Yet, underperforming primary misaligned in often improving engaging develop lives. deliver nationally excessive despite have to compensation tasks attributable records health align from avoidable find on electronic which administrative networks, systems health approaches, are with coordinated Providers networks symptoms driven large their inclusive health benefit short offerings to objectives. with and fee these better referrals and productivity plans part and have struggled more care health of to specialty their their better been service and investments, to integrate a and health costs. benefit and burnout, for by showing incentivized managing of employees, attracting and

we One positioned we stakeholder At results groups. all key for deliver Medical, are of to uniquely believe, these

care commercial routinely elevated we and delighting see percentile inviting and as we high services insurance XX health best-in-class our score office in with evidenced model combined promoter under XXth our covered by are that consumers quality membership clinical scores. with net Accordingly, Our digital health accessible care, seamless continued programs. XX/X experience highly and

employee One who is employers memberships, Medical productivity cost employee sponsor supporting and engagement while delivering For savings.

rates total driving or savings X% For example, more. increasing employer room reducing by by emergency XX%, of generic and visits prescription

we with And their by reduces and commercially providing for many to own by administrative duplication technology own approach alignment for root faced burnout hassles in a based cumbersome testing care providers, digitally developing burdens health a clinically better their the by without to member developing health fee with causes of desktop costs platform, addressing practices salary were of and the coordination faced electronic and opposed accounts their longitudinal and For relationships networks team leveraging compensation of and health own. as across helping of medicine integrated for patients and records. proprietary and insured service on care which our settings networks, we reduce incurring and employer primary build are specialty them risks many

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with to In County, expand an alone the been to commercial and estimated billion model us Together markets XXXX markets addressable the announced, and of to our as overview United we've care. Georgia. XX billion market markets XXX to across considering all Oregon, and primary and of and into XXXX considering perform, With results that how grow. population we opportunity, brief $XX our commercial States XXX highlights Atlanta, three just let we've when California, which able addressable in strategy from Portland, represent innovate entire when billion the these Orange previously population include expanding the to total new for plan turn

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adjusted expect the given end improve adjusted break to forward, leverage model, to in around year EBITDA even anticipate reach Going the our XXXX. EBITDA and we we

were list to innovation. financial the centric widely In In delivering Forbes recognized named as innovative companies. one we of last as we companies, ranked addition were one and healthcare most place year, on their consumer performance their for is number a Bernstein Alliance to XXXX disruptive most their of private us us work. most company. great named healthcare our company us named That

reach our care impacts new and patients complex in heights We for last chronic also year.

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digital our growth continued last clinical States. and We also with we year, as Health United our Network across integrations partnerships, the further built including

our partnership under Master of partnerships now members as Brigham, As a forma in In Boston basis, with announced are from partnerships. these base XX% Reynolds also covered year-end, the known new member year. XX% HealthCare. XX% of prior up we a XXXX, Partners January covered On of pro in

plan into As Orange County, noted, Atlanta, Georgia on we've California, expanding Oregon, and this Portland, we year. already

as we total outstanding prior grow over opportunity and have grown markets With the info end by enrollment enterprise announce Texas new This Austin, these consumers. new Center. to Seton partners. These provide XXXX, market three us our be partnership today, the further with and extend Ascension markets with XXth an to we're Medical enter partnership markets addition will to will of plan premier our in our pleased to year an and XX% And with additional companies our reach line we of months. next and XX market the consumer by national

enterprise with members whole offerings, new care for to of into us clients. In delve both In just the growing extended to which continue kids network than goods, clients We One services we family and extend the consumer QX, addition example partnerships now outstanding who services, to industries Pediatrics health technology, with across and existing one is began grow. our we've across also includes wellbeing plus services, relationships an expanding sports with lab behavioral health, health, and care new including further also QX, care specifically, relationships mental and clients. enterprise array ended professional health we continued care, retail, for women's of Medical and launched markets, consumer more multiple enterprise and in digital immunizations to allowing lifestyle X,XXX education. in office services, XXXX build and LGBTQ health, In programs. medicine, markets, and health our

for coronavirus, turn outbreaks during we're business. to how this demonstrating the of Let me power now our implications model and our

members, our They that this for clients, which services acceptable and with our entire COVID-XX. enterprise latest and combines care frontline employers in time. and acknowledge during this seeing digital care insights, office members clinical been been communities time me highly so have has given the communities to colleagues with nation. for and outstanding along support health been model the across lab XX/X have of the our of let First, delivering during in valuable We're care, guided the our team incredible bundled affected our health, often

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locations health deemed Additionally, to able testing and clinical criteria, COVID-XX when the Medical we support One nations. designated our line have been providers and at services have in with public across inappropriate

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and workplace team have at resource clinical clients, For been as enterprise key leadership these approaches. a their our as work employers we serving through

a more just had example, our than clinical for existing and consideration insights further XXX COVID-XX areas last their potential For leadership organization. week, providing we and call conference for in on clients, between enterprise

service significant that impact these our only our well. of and know employers digital model times membership-based it's delivered relationship but in delivering and to seamless in XXXX, along combination We office not as care health during extraordinary with

and We the they see new are recognize continuing us our sign employers power with as further consumers of to up model.

party business above in we tailwinds from accelerated While the expectations our long-term our our for and initial membership it's expanding to XXXX, early base. expect growth still see membership seen

we adopt and place officials Now, health to in being serve public we seeing by sheltering communities are distancing practices. social directed

for and them differ services in-office prior if anticipate potentially infections, returning chronic diabetes visits visits from for related of possible. reproductive in we continue, public Accordingly, such needs. heart we behavioral visits and in some defer as anticipated when As patient those sheltering pronouncements, in-office revenues fees are to of such only many sexually disease, and management the but membership as time guided for distancing of being other partnership disease revenues revenues visits, cancer screenings, and services our visits seen short-term not needs from surpassing policies. health, are under wellness place official to period transmitted policies, relaxation revenues decline and in to elective while patients After our levels such, as health, office

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Thaler. to it CFO, turn Bjorn over me our let Now,

you, everyone to Thank call. Amir, on hello and today's

be pleased our XXXX in are We previewed FX. with very which can our strong result,

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members, XXX,XXX have In the We membership will members. I as majority base our XXXX, XX% we drive a grew economics. driven the year with discuss, of model; ending our membership And

been have since our We founding past began our a strategy building focus and consumer the companies over several enterprise years.

of XXXX, was XX% and year-end base direct consumer members. As membership XX% approximately our enterprise to

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associations onsite or enterprise partnership capitation medical fixed that from IPA. physician revenue clients includes payments note independent payments Please and services also for from

revenue. recurring membership and revenue and in or by partnership visits or revenue total together are QX office $XX.X contractual number independent in digital of and net members. million of XX% totaled revenue These encounters nature of streams Taken in our general the

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this revenue where markets we other Some generated have contact in health is stream of health system markets directly this in while we partners, plans.

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During total XXXX, and new in those a in opened of X of we QX. offices, QX, X XX

growth investing new for Additionally, into we in began XXXX, half the office XXXX. of second

in of revenue, of represented XX% terms $XX.X As is net care $X.X increase a in margin dollar just QX result, million. or million, year-over-year was

XX% revenue percentage in revenue, and with the we year-over-year primarily capacity margin care QX demonstrated deliver slightly XXXX. net decreased by pleased in offices. during these care XXXX, a Even QX, in investments to our of new our compared ability derive year to with of margin improvements As efficiency driven strong were

or year, margin the care net was care XX% net in annual of percent highest from For and XXXX. or revenue total percentage history $XXX.X in up million million XX.X XX% revenue, their margin our of

of the made below terms company. continue care a public expenses year, fuel to growth and past to cost investments In line, prepare of operating to be to this we

for to new as we into expect investments integration as team majority platform them with see Specifically, our QX In and partners. our Overall, fixed technology grow were headquarters. overtime. move we build these further also as our and of health additional engagement we well network we do costs, out member corporate into XXXX, to efficiencies

Lastly, in member sales and we member and engagement. within brand growth awareness, new marketing invest

of EBITDA XXXX adjusted compared revenue or As was a revenue of X% a of XXXX. net loss XX% of $X.X in of $X.X million, XX% in X% a $XX.X also compared QX total total revenue a EBITDA or or million million, adjusted a XXXX revenue. total $XX of QX net result, loss net XXXX net to was of loss loss million of to

expect we leverage the over derive years. our operating expenses, several to particularly As we mentioned, next G&A meaningful in within

yearend $X.X complete which and ended short on in balance. cash sheet million strong cash -term additional of net $XXX.X XXst, were IPO balance only securities We we our in proceeds, marketable January as million debt. providing $XXX.X to and addition XXXX our generated with Our remains million to of liquidity pleased

million approximately of new progress let In early XX headquarters. color was open primarily for million, office. our XX approximately in Lastly, in remaining in open $XX.X me XXXX, XXXX. in of on a average $XX was million up additional offices The of which to XXXX, CapEx $X.X $XX.X XXXX in CapEx for XXXX corporate investments cash $XX.X brief on related an flows, to our to our was CapEx provide million million from statement used offices with an of

modestly Going even of new forward, rooms two average having we have on with the increase offices exam and one footprints some begun to more. our office additional size to

expect these up into such, heading to modestly to we be As flat XXXX. rates

early an impact Now, high power the turning seen as XXXX, as our is still have demonstrate in model continue mentioned and our QX we Amir unprecedented to membership we to during XXXX it growth guidance, of times. while these acceleration

we to As membership a quarter total expect result, XXX,XXX XXX,XXX members. end between the with and

For revenue, while we we accelerated a seeing January had and are strong and growth. membership February,

to self-isolation. think decrease to communities and in increasingly March did a we promoting you If see quarantine utilization as began office are

require earlier example, For Bay other so shelter like commend in Francisco the similar homes or area residents and required this X, has we’re self-isolation that all San practices until seeing their week, April early April. generally communities

perspective, revenue weekly revenue. $XX result to and public the XX revenue and assumes instructions a We patient approximately fluid This to and between currently service quarantine net million approximately $X net guidance service QX situation is measures. deliver $X generate million a with From often. patient of revenue million million these government involving it's reduction $X in expect million of net health as we in a financial

impacted and between We million of adjusted I $XX million by care same a XX just dynamics deliver mentioned. and of also are Both margin million of expect the to which loss EBITDA the XX QX million. and between QX loss $XX

Turning seeing by strong is growing consumers to office service employers heightened and offerings and our pipeline. which in combined and are virtual focus member in XXXX, interest we

it We importance on fiscal enterprise report to the nine out term light sets members over that we long the in higher is model. which members, membership to high year us that caring with believe and are consumer between and care. combining pleased our time well even on to members impact a that term on incremental XXX,XXX clients really for this our year given we remain the focused during drive virtual and shining and of at of year delivering we revenue, long accelerate Over think we end office for demand particularly up with now which expect XX levels. XXX,XXX us XXXX Based

Turning we million. in to guidance performance million range adjusted and loss four year expected of to provide to the a and of million off on to February, revenue, in EBITDA million guidance had $XX $XX the January our $XXX $XXX based loss revenue

However, dynamics, QX impacted aforementioned in negatively full million Any believe $X least based communities and self-isolation taxes into thereafter duration we depend in will on impact we serve. results by the to the $X year level million at expected on of reduction XXXX.

we not provide do at a formal the just beyond As discussed XXXX numbers result, time. membership guidance this I

member of encounters and of office pointed strength office generate independent service out to nature continued enrollment. in XX% At earlier in distancing. same and $X was revenue directly related contractual of count revenue seeing to As reduction typically visits patient members in utilization, our social total of due increasing by I net office are we in the notwithstanding XXXX, million in approximately the our and utilization the recurring generally in new or number we in digital time, weekly net

visits mentioned, current significant higher previously demand testing and we positioned and we the increased environment, see I are for well in for the due up potential to than service to the to membership. opportunities examination anticipated believe COVID-XX pent care services, including person demand in As

believe business strong these near we some term such, us related momentum have COVID-XX As that mitigate will we of help headwinds.

take margins, road within revenue generated in you the strong which rotation shared sheets also XX% also our advantage to marketplace, to financial will we net show, believe committed new year. XX% targets allowing the reach journey of G&A to term mid around margins. care more responsible year balance Overall, their adjusted offices our targets. long with EBITDA we including remain to opening And include XXXX leverage grow end significant than XX% and We to our this growth, the allow accelerate XX we us EBITDA committed breakeven us in of reaching to remain that conscious adjusted

and year for remain members us XXXX. us on one time. way focused financial team to of support To member opportunity we ahead results beyond our our work and power strong further I'd improve on of we the today. model. to thank our executing a in and the is of their against taking And proving close the engagement in you XXXX like shareholders as healthcare join for partners, employers, continued time at call and we a members, the to delivered Thank delivered

we'd And be to any at your this with take of that, happy questions time.

Thank Instructions] JP question And is from you. [Operator go our Lisa Please with ahead. Gill Morgan. first

Great. that, Is Thanks somebody or so patient much. you think how have honest, we say but throat you might visits. And those they think I visits as strep appreciate that, is, many feel weekly as your go, understand there acute and how to about meaning something. everything way I that fluid revenue, I'll be comments. net about could I self-isolating, of visits like or so breakdown if we I

virtual I'm just visit. and to what a going So, to go do going care so I'm

for year, to going et I'm I to come to need the for get my kids, whether to the wellness versus cetera. checkups, what visit me it's or my therefore, need so I visit my never And have,

we This you both had Hi, question. office. always high Thank for and Lisa. in engagement members, digitally very with Amir, your is our and have

So, digitally member extraordinary engagements year, had seven and per in we these two person. about before times, per five

of lot to able were things require care, office didn't always a handle that in we so, digitally. And

things in. deferred we typically being have visits, more that currently until extended office longer, they seen fundamentally see seen haven't more change in we time. as would a And that We can for the an come this at back thus

the is novo? about that So should Amir is of more deferral, a service that you that, versus we that, think went believe this not of digital way this if de a a replacement

I That entire us. our Moreover, as membership mentioned, with correct. this XX% is population, during seek care had of personal we've time,

sexually that in be their their Now, will about the to continue of reproductive of blood concerns there. a people lot with the transmitted infections, But has their long-acting COPD, preoccupation sugar concerned COVID-XX care. their been around everybody levels,

we're defer these will until an to those to time. but them, So, we turn we believe appropriate need to back trying conditions

because then talk, EBITDA I you that out And fourth If quarter Is correctly talked previously you just follow-up, when about that when Bjorn that that pushing COVID-XX to a you're XXXX. was XXXX fourth breakeven. quarter remember of timeline?

I going the X, out always No, said think X, be we to breakeven IPO. about quarters EBITDA XX we’re of

change no here. there's So,

Thank you.

Our Morgan comes Stanley. next Goldwasser question from Ricky with

have follow-up impact. on your commentary questions some I on COVID

context if about think, to million. you that $X $X we us a more when give million just bit So, little

this about, this think it just we seen the across isolation the is about San the impact far. all if think is Francisco fact paid the mainly to to perfect for partnership service, net the and where seen related that are up fee impact, is the revenues your regions most an the paid extreme, that front so of as given is membership So, And visit. already kind social your for we we've we've regardless market, PMPM activity

seeing lastly, maybe that from if percent have revenues? members the think of a the So, fee for we're benefit the marketplace? new us situation any you that And of the you've help in in more us can then like, And you result you a seen think as service? much to how partnership about should we as that quarter seen quantify membership

absolutely. Yes,

color and and can membership I'll maybe on additional then So, start share efforts. Amir sales

related March, on weeks March, in we and that million And that's when one million $X of volume of think think impacts third volumes, $X probably impact. declines first right, what we in of $X different in happens to saw total. two estimate total really, markets, the million about variety it's the worth about As is a obviously to to our you COVID of $X about our the

an whether it's then Francisco And the and across or see weeks isolate. X.X that remaining requests San or country, the New we it's for socially whether given in whether demand it's York, so of March, for really increase

acute box, impacts, many last the of And you that you potential that the of see how for and two visits So, we impact. do many weeks versus about helps also think how can roughly I third have X.X March, visits defer.

just And on your Bjorn, to questions. add to

seeing increased enterprise is strong, terms that also Ricky. revenue. We've the interest these we're extraordinary enrollment service patient the kind during market we’re and oriented the through of of And seeing then interest side. on impacting but beginning the for the consumer both times. increased increased of been So it and where fee seeing XXXX, in services opportunities

level some proving our it's this model. of So COVID is XX time the further power

might thing we'd think people's in these pretty significantly of care in be think testing I just this recognize United the be that even the all testing some percentage a the services also of up And, visits, needed. is also dramatic is markets. most across volumes level pent days. mentioned States new One so, Medical I health our and shows and large primary up, how facilitating care a minds testing might in of I not but adding on potential of what already office it that the

of are those of so, the kind on side. demand tailwinds And the some

Understood.

follow million. just service we think market, think to one were our where around about to for the estimates I fee clarify, if modeling were for we So up $XX in $XX million DC

that So contract in XX% the $X $X two million within million weeks. decline to is around

half model Is should about other into we cost? That's And then start this thinking make sure with second expenses is XXXX additional type the about Austin? Maybe the kind or correctly. associated just, how updated? when more to like should that of the flop those, think one. through entering our incremental Just as this we I'm filling we costs of

probably not full so So probably half full right? Yes, about what projecting $X X.X are really the $X is a of the all third a the two to $X for million $X million million is and we where just March, the saw weeks. of is to weeks. to of XX% for question, first that of first see This a XX% it's we what two your impact. impact we that and month, impact the million in part about is the Again, impact weeks

So, I good gives think a that you that pretty sense.

we certainly comments, point But do heard is again, expansion more offices do as and that out early and open second in of going our relative out And build plan of the overall then this Amir in probably costs just of or across some is Austin XX our open plan of you to Austin. this related to for to markets year back that. service the fees incurring about predominantly in to all We general specific to expect new to the Austin now We the contemplated offices half build XXXX, markets, start year. into say. here

you. Thank

Ralph question next Citigroup. with from Our Giacobbe comes

visits. guess I telehealth to out you hoping sort your interested of little staff. of Obviously, serve delve your what ability threw telehealth of and the some in I terms and into numbers a existing continue side bit sort on with afternoon, big can you to Good guess more Thanks. is in the base there your capacity

on point? the So are this of just of sort that, at of end, and positions your side need other do the where capacity that sort you build wondering staff out you to on on what

leveraging to which feel large you, handle Thank well communication demand have is of volume tax. we handled a synchronous that our positioned own and video, asynchronous technology, already inclusive structured

so. to So, we these that's care us handle we virtual very influxes. platform continue do multimodal to a well to allowing feel positioned tremendous And have tremendous,

just And million of the is if against sort the helpful. discussion back that more. XX% maybe million million to, you the numbers service and net of of $X on not weekly that's impact million on patient $XX or I a $XX if is, patient service Okay, call revenue you sort month implied. and sort to The in it revenue net $X $XX land, you guess million million just you the question take the I $X and want impact did go

some revenue of full to patient So, like mean, as sounds it that your I fair a to think go based a claim reduction? it the is does weeks of to for the Again, quarter you're guidance last this for on is are March? for XX% on two service piece? just it's going quarter. of way net that that of Obviously, back third fair kind what it's it even just get last because those of of couple

in? we saying if I obviously do Yes, is you for opposite. COVID-XX, And you of fee $X coming we up for our what fee frankly, coming ramping is then revenue. is sort million That also Amir’s always effectively to which you think is the revenue the testing math service fee think Do for see generate for feel amount to of million are coming will I now fair capabilities service $X service there in. revenue you're of increasingly in. point, impact And no

up not point wellness that And that we But it guest of generally right at do if our signing while times ready demand demand. last. in today folks pent times, ready be in to We that to elects have huge the a that a confidence going to once this serve be everybody's visits extraordinary top degree high are do there's will up extraordinary through now. services in have a believe will is of up these long we pent how incremental to we be are to these membership are on we

our we prospects. feel long term So, good about very

If COVID-XX could is one like it new to enough. in individuals. on. Fair just sounds like, the drive more, headlines in memberships and helping I sounds squeeze maybe right. it’s all It Okay accelerating

based seeing from So, challenges seeing a of sort initial around that's And of little it on of the in that everything it side? sort Is individual out those context that being around sort maybe incremental there's sort of of there. membership you're you're the hearing going or given what's of where bit and up primary just seeing more what XX-XX? effects? on Or is happening signing driven on enterprise care, terms is individuals or that of

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time, And our please limit and next yourself Piper from Thank ladies you. question. Wieland in interest to question one Sandler. with And gentlemen, Sean is of the Please ahead. go

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Wells our you. with from next question And Thank Fargo. Stockton is Jamie

telehealth, reimbursed. I reimbursement Medicare very you much you that's have conversations of about XXXX big Obviously, not expand -- you're member encounters the maybe strong seeing had inflection for. which to your any just getting those with guess obviously talk telehealth a of a around seen base. a but piece this Can insurers isn't flipping event, on just as we've

or thoughts great? any Just around would be that color

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you. is our from Thank question next Daniels Ryan with William And Blair.

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Thanks you. Baird. from our And next question Gillmor comes with Matthew

state. their where the term? on announced that long know the lines. an but Jamie's have to I had which relaxation curious bearing you're business telehealth that Administration either if on yet on, fluid And was of near a allow any in Does I office follow location access practicing very could state employers situation, question just have telehealth. from across up Trump to telehealth more telehealth one any doesn't regulations, a a medical seeing I term, it's interest pay specifically for some

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next Draper Sandy SunTrust. with is question from Our

And you but much. Thank Good obviously very and again, well wishes to your times. afternoon. you families. And challenging

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the how So just implications? your opening trying you. thoughts to are around think flexibility much what office Thank

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who can teams back results. result, have call end We

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for Thank you. Amir to And back call sir, this the Dan will final his session. concludes Rubin Q&A remarks. I the pass

a wash Well, your care here to also guidance organization, through we really together, want as us hands, with And to joining thank today. this. let health us leave everybody will stay healthy, work we positive for to but be

get the role anxiety. their hopefully to incredibly are healed, our playing not we're reducing but that certainly only We communities, of proud

of merits and with phase membership on providers group and our with every tremendous our their with frontlines a our have communities. employers and proving who day are We technologists are the

so much everyone. being and Thanks you today here you thank So we'll for to talk soon.

disconnect. many we now ladies you call. gentlemen. that, Thank for And you with thank you This today's concludes participating and and conference