Crown ElectroKinetics (CRKN) 15 May 232023 Q1 Earnings call transcript

Good afternoon, everyone, and welcome to the Crown ElectroKinetics Corporation First Quarter 2023 Conference Call.

At this time, participants are in a listen-only mode. A question-and-answer session will follow the management's remarks. This conference call is being recorded. A replay of today's call will be available on the Investor Relations section of Crown's website.

the reading to statement. of hand introductions, Assad now the and the will call Jason over for I Safe Harbor go ahead. Please

first Krutz, Doug Croxall, Thank welcome Chief Executive us afternoon, Good Chairman; Crown's Officer. on quarter and and Crown's Joel today are you, With Financial XXXX call everyone, the Officer call. Chief operator. to and

of XXXX of projects, the our the Securities remind forward-looking as anticipates, contains certain of and amended. call Act plans, we Before expressions intends, and such management Exchange within hopes, as should, Section identify Act that made you are amended begin, of may, words and I XXE to would variations today's Section of the XXXX such of statements. as meaning statements Securities believes, estimates, Words expects, like similar from XXA to and forward-looking intended

numerous are the with XX-Q the company, first filed of the the subject statements are Risk quarter documents of for which SEC. section These set as the beyond forward-looking no to by those for website available differ The on these from are Actual required many by changes after expressed XXXX Form control quarterly or in statements. report Factors those conditions, revisions this including the of Copies obligation forth undertakes company's such except results law. or of SEC's www.sec.gov. company to call, materially update implied statements may of on at the these date the

pleasure and of Chairman is Now, at CEO this Crown. time, to introduce Croxall, my Doug it Doug?

call. our to for first conference 'XX today like us everyone for I'd Jason. thank Thanks, quarter joining

finance activity, optics with $X million the transactions Crown quarter of the we of first XXXX The raised, was associated for secured. extremely that busy credit numerous that line $XXX with fiber our M&A was million

shape, filing queue review that have Monday, good We'll before to our May be XX. on our extension filing company in file are our the process. can a queue elected we thorough so have an financials and our While auditors next

feet. our a that to to So, weeks shareholder that two It letter I now, to the built ago smart measures to door. to want in prototype window us business the our big team get very able announcement, feet seven electro-kinetic in for couple first frankly, accomplishment, were and announced Oregon. out by turn allows produce the Huge path Corvallis, our a We first-generation it's insert the start. we

We're in to three the targeting somewhere four able next months be to that. to achieve

you as those closer will an update get we to dates. We give

continue which in is remind We smart customers. is to installed our focus able window four that, like the intent be months. with three office next I in buildings. said, a to everybody, to have discussions And to our Again, to create do primary insert, our will to be US

customers, with to in assist of the we're not potentially smart our continue partners the inserts. if can assembly As in, assist only strategic manufacturing to in our of and window talk discussions have we who to continuing necessary, assist film

energy savings product first process definitely three our an to for out and four the a look we need. continue have product push we'll cost forward. forward reduction very door still the getting So, with This their We also customers. buildings. months. product next a them, in that it's There's a for active And is to to

to fiber attention division. optics newly created our Turning our

of into to some new January to in contracts, some move be we picked purchase an may allow who you which of new optic and the some asset this announced year, those And agreement that's a fiber we area. us to other construction. For company in equipment, assets up

interesting an to construction got optic we story. the fiber How really is

system York, US Crown office antenna to from that about potentially a in talk owner While they building mentioned New buying we to like distributed were had they Crown. a meeting with would

data, it position system taking us building, save of a Our and of it smarter, we allowing the Smart to smart that sun, that and the data, in communication sunlight, the money. takes to allows more run them window put through to insert has capability help weather data insert building window that the

conversation into building That about put antenna telecommunication more prospective the distributed deeply system building clearly system, is cell a we to antennas led that of more to order propagate and put one with and optic signal fiber just which throughout really a a within building a building. our customers a cables, in

This this, signed into we to we construction, fiber us has fourth year. the led this acquired this of It's in conversation moment announce since acquisition contract. new world have are at of announced three-year which the we where the led entire is like customer our assets third now of And a January to in region. Northwest us MSA That today. in that we that this I'd our

to we next coming or We have week and that that mean a the should purchase have this again, hopeful or so, a in our announcement we're once once generation order what so. in hand, have revenue to obviously sometime hopefully week and within that, will from contract, to as we'll that that make

believe letter revenue we've division, the significant from pretty point. what we optic we actually, comes gonna contract new on our we're in generate signed, think March, earnings order in had purchase do fiber recasting had end we hold off few any just going have that in our light the that light we at fact the shareholder that and a contract, we're a that of that this and that coming in this of and should call to from of projections our primarily all we announced we had of will talked, In we in weeks what EBITDA, discussed at back, we

think draft revised calendar another two out we to the letter the We weeks, we will be in will what on public EBITDA we'll next doing and ‘XX. give and sometime have have shareholder in will revenue that three for guidance which investing

just country just fiber to efforts deploy the optic also but net XG signals the business, country. remain not The fiber for the around a macro to order across tailwinds not to division in the There's to lot optic the -- rolled strong. network get optic out fiber get -- home, to very of

of pretty we're but strong very public network. data companies other with we're we're with the own a and that efforts pipeline not fiber have working other efforts, the benefactor, voice video. So, our from the that And have optic just in consuming and robust individuals we're -- demand we also frankly building, we with that in

outsize we've business what insert a never of business. size do Frankly thought exciting, And from the we this smart frankly. greatly within pretty opportunities would we it's seen standpoint, window

hand. update contract three-year that takeaway the purchase to executed once we order contract, call will fourth we've shareholders the this announce going is we we're but have and we continue signed, and as the updates, big to that So, from the have in obviously,

an through granted XX have Literally to an email has XXth. an we hour notifying and that about received August NASDAQ been us accepted extension our -- ago, we are that proposal

review, listing. to in were that just those, deal to For there we with maintain our had issues two NASDAQ order to

bid issue have first that a for above to is rule. The trade issue order the the satisfy dollar we to equity ongoing the was second in price, requirement NASDAQ. And listing

a in listing. in million maintain NASDAQ for to balance account have our ongoing equity We $X.X order

one extension, news, XXth it's we order will to filed grant X-K that bid have NASDAQ, in and of have that nice would needed goals. in August minimum we're we good they permission those next have this that will do had an file shareholder's but once both in XX until one thought and reverse the in already hap the to us or accomplish -- to Really week, price. resolved officially frankly, respects, -- the have it, for if this to we the detail. believe issue get achieve a equity to day two sometime the queue We and we more outlines we always $X the we And a with up all

had in this division, and great window to the get both trying customer’s so future to exchanging our we We the the structure to that some later a up it relates and going our first the specifically to very we really also with about We're year. sheet, are repaying optimistic, as retiring breakthroughs company, in as are optic clean out obviously, fiber the and smart insert, excited cap of actively it also debt clean and relates hands have product we've but forward. balance

We don't company cover now. any the right analysts have that

of engaged in have We business. on side the the with conversations infrastructure, telecommunications analysts that are

so hopefully months. up analysts one pick the we'll six from And over coverage of three to the next

to we get email. hard set do what a analyst it's daily on so, info through call, basis, questions And crownekay.com our we if earnings typically for decided our have but at is up to calls

into Jason categorized a so, one And taken of kind those five of of questions different and lot them about looks like has questions.

everybody informed the the the read to answer hopefully provide that will keep and I'm So, then help going company. question about

and the been greater able was standard bit a deliver we announced in need the two calls film width this which have produce at six to past. manufacture about seven able obviously previous insert order releases a press what to The our inches. some we what to a us has to Insert, allowed in than we addressed foot is breakthrough we of by width at our that So, to film than was, have in Gen be width little wider a X earnings

And so, schedule. this will delivery our open up

some the for inserts, We a are customers our of to good feedback but we to first three our Insert. building window X that shipping getting in sprinkle four be next months. Gen enough out sometime the can into get product won't trying to of We so lot smart start

issue be question. next the will resolved been first the by The received Has the and when customers? units technical

resolved. So, issue approaching to has with. paths been that of film technical the many were some There are extent, issue we the

we're Insert. And have two, one the will still worked, by that so foot why the those seven we has challenges by constantly paths to have able overcome. to two-foot seven of build other obviously We that's

you proto there of with. to deal have from lot a issues to that Moving production, other is

are up You path company. know but provide other they wide know you the that have still and never film, they the we come paths you don't we greatest still for know web because are a that which web opportunity will what pursuing necessarily, for

sometime obviously resolved as the in issues. know are reiterating There So we that pretty And we door of some well. yes, that we will out next confident will are we to first the again, come able that resolve have that our three four months. always the don't to we but issues think those have be other product up, we of

so that volume Third question. for do a up? you it Crown too scale It optics opportunities to How handle. be company for much the smaller business may like Fiber to seems keep of almost to is big intend

concern volume pipeline, our legitimate potential revenue the pipeline the billions, One, the it's and up. us measured of in concern question. and look dollar keeps and I incredibly frankly. When in a definitely an a That's that at question the it's

you good is working orders management company a customers of of old do are that, you good and it And handle of our believe necessarily and through you of infrastructure, choose, not find kind through which handle pick a sale grow can with. We projects good we the have a so, means, funding the the you part of team, way purchase off considerable you can that have equity. amount the and traditional

And at business, order purchase so, at one grow we one customer the of a will to look a kind time. time and

the There as a And how there do frankly, the if a quickly. lot work equipment work also do of this, can that learned work How products? they have on of partners out The you with. right own. the challenging, contractors far have smaller the equipment the are bit little field their we more equipment find but we technicians we with As to to pretty is work projects? we find on on a

question. to a bullet and growth silver fund which to to that no on. on your there's customers disciplined funding It's management take just good So, approach good

next respect Question number please the NASDAQ discuss you listening? steps four. to your Can with

really Yeah, either went we'll queue. because able the bid able proxy we good that XXth above one with or the in on believe but a guideline, in we And we to equity trading our just own to price approved we start that, until We'll year. be we once contest either for through we to to last up guideline, our And XX meet be in accomplish actually we're in we our already -- those. file of of December both the shape. got have splits dollar regard, shareholder August meet

best when Do positive? flow you have the may guess Question any achieve company on cash number five.

in lot will back update going about earlier revenue I hand. to talked of as can. don't it what contract have now. once we and on this as kind we a I do accurate guidance providing of be guidance. us give want So, it do to the EBITDA, about purchase to from we ability fourth That'll that order we want to

update point, provide or And provide that shareholder I at through release. guidance. that a again, letter press likely will a possibly through So that we'll

that questions, That the been category actually have all is of questions submitted. the the of

you We didn't the just year distributed lot closer positioned then come was we But ago, revenue long So, where out look back company thought getting earnings we were. the one think first industry. way. the production, about I want to a know we've product optic we've company say industry. a didn't at anything when know um, for were back a growth, in antenna, fiber tremendous for about industry for to a We production. We anything this clearly we

is to that clearly. will that the important can going equity endless up delivery so way have hopefully not we of require get cleaned sheet price. we're raising, think a do the and equity to get which equity some realize holders think We very unique the in I help amounts that growth the balance And fund to stock company growth

and And shareholder letter we road. revenue a in significant updates press put orders down getting help some going will behind have the be once or we once second on bright, NASDAQ the those. hopefully looks successful pretty getting It's provide generating the But have future really contracts year. half to least us, the a of more very we more at position purchase to company this really those,

near communicating future. look I'd all in everyone sticking you patience very in for forward thank like the to to Crown, with and of their we with

the to back Operator, you. I'll call hand

Thank and Thank this you. you participating. today's Ladies concludes call. conference for gentlemen,

Have now day. a may disconnect. pleasant You