CSP (CSPI) 14 Feb 242025 Q1 Earnings call transcript

Greetings. Welcome to the CSPi's First Quarter Fiscal Year 2024 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. the to turn Polyviou. host, now will conference your over Michael I

may You begin.

call open made business estimate, Hello, today's we you Executive are to as After Conference conclude and well to you, Victor be Financial me the everyone, Statements Thank Holly. securities call Officer. words will, today regarding call thank term are not identify will Gary expressions, December may laws. forward-looking similar XXXX. statements. Fiscal opening is on their Levine, questions. CSPi's First management federal may, on Chief the ended CSPi's review the XXXX Gary for expect, for by facts identified and Quarter continue, as Victor which the that forward-looking intended Results Chief intend, then and Call, Dellovo, XX, believe, and as remarks, in With Officer, CSPi's The us joining plan, is anticipate, company's statements historical project, CSPi's

Exchange on the filed not Factors report to, the statements based. the of events may Risk The reports several Form influence affect future that as the limited annual control Factors and that the the the performance a are in projections expectations and company's are and include, with XX-K or to risks may should and on statements many statements influences, and are other which results but the XX-Q beyond guarantee and future these the about of subject results. Securities cautions you performance the are which company upon read uncertainties, or not uncertainties of quarterly that Forward-looking reflect statements Commission. current section company's be company's of accuracy Form the risks discussed

whether information qualified their All belief to this the statements entirety turn as events the after time Victor it no cautionary are revise statement undertakes please made management's I'll to Victor, ahead. of are and future of publicly the at those Officer. Forward-looking obligation result otherwise in as forward-looking With a any forward-looking Executive respect date future that, good available go on events. thereof. over to faith new and time CSPi statements, statements based Chief Dellovo, the statements information, or are update or with by

Earlier quarter Thanks, first results. Michael, morning, we and XXXX good morning, our everyone. announced fiscal this

protecting manufacturing and of to risk could of process. enormous states, compromise global across intellectual However, This we OT ask To begin, to high-performance products, that the fines, and the continued organized forward and I few us for to optimism before truly launch developments to over prospects and lead nation AZT or Technology high-performance manufacturing in spend review business the businesses. a as believe days on disruptions XX OT, technology, of A Gary attacks demonstrate from evolution and in major the announced AZT game-changing operation to products a date our ago, facilities. growing PROTECT announced company cybersecurity within cybercrime. customer minutes multimillion-dollar safety with most in offer to development appreciates to highlighting a continues deploying cybersecurity the recently global offering I of hostile significant a Solution threat agreement quarter, growing want I these be with its X a regulatory few giant because were the and advancements business, the contract quality, solutions. to the or customers cybersecurity terrorism the HPP leap allow facilities response largest the our It is theft pharmaceutical to properties, our AZT, its

cloud-based can bypass next-generation extremely critical antivirus from cybersecurity in modern assets their are new threats protect bypass However, wave vulnerable of and many solutions. to that other protections remain ill-prepared network

the The announced that the public was most institutions for recently one provide a prominent second of to dollar Florida and managed college, in services higher a development nation. education multimillion X-year largest was contract also diverse of

of and security believe monitoring, these critical had and the proactive the new TS $XX.X infrastructure customers. and for deliver and I be Technology services. for on the support of customers' TS of my indicator confidence overall are implementation, raise million continues business a then the to the change Directors I revenue dividend networking, being share. The I the increasing to spend generated our future and cloud as dramatically the TS moments it including to planned, the its as about is on management, per private from business college basis will the current offering the and X business driven strong of and or to a business, our be highlighting its $X.XX success quarterly Solutions Board focus precisely well capabilities. leads use installation, The growth will daily will and as why few We a excited majority curve. has performed of the AZT developments existing potential accounted training as comments to by success continue we our

upward an stated the we fiscal I based on information in clients' call, increase current business, and will in continue the UCaaS profitable last we on activity flow is a an and ended see the the the move first swing quarter our as clients, to XXXX. fiscal As becoming leads with and throughout

clients' engaged that and a team's the solutions business amazing. is and they answer cost-efficient for As attitude the are the their several it's can-do products been needs. yes, believe because challenging effective, many I enhanced most you to to environment of our remain critical ability know, with recognize customers years our loyalty has

the remained to and developments. of while For been quiet see pandemic, team following beginning has positive ready, business our cruise-related relatively during some example, the has we are the the on

one freight continuing from has in as are containerized the is extensive an serving cruise of we with one largest business we growth become example, working several operators network numerous non-cruise MSP line ships for our specializing related the orders operators exports consistent of ocean larger worldwide customers. currently with For agent shipping received ports one of the global our of and and

now to HPP as to on verticals. interest that our continues focus comments across to market a believe number need on solely the grow offering to the amount will in the generate our the will it products, $XX of of based we Turning business, emerging significant that be protected high-performance AZT devices billion relevant over my

will the about remain AZT. reaction excited And are We bullish. we positive industry's to

and funnel across Fortune Our getting sales is attracting the is XXX. prospects larger

reminder, what's leap As endpoint allows new advancement operation environments. cybersecurity technology the the today giant evolution our a in customers and for its on of AZT's protection forward a designed market solutions. of to us cybersecurity generation performance surpasses available offer critical AZT's

wind for risk completely near code-based while stopped patching to downtime. supply updates endpoints attacks before security full By have the after of and artificial intelligence For AZT running or threats applications and example, from cyberattacks based teams. zero. associated of operations are lowers aligned It ensuring downtime. devices testing, from the on including malware, the security attack advanced deploying exploit damage spectrum chain and costs need seamless constant capabilities, we zero-day to unknown disruption occurs, endpoint Sunburst tie-in believe removes of without the vulnerabilities. the during that vulnerabilities AZT This automatically initial used halts Even malware internal those a attack most the protects breach. techniques, organization The on would solar ransomware, solution unique attacks, production

attention. mentioned the more and that conferences garnering and On and of the industry more are last call, reputation name team growing, events And one, number a we I attended. our and each is

stopped how pharmaceuticals. passive active and Head solar the Southwell, in breakthrough of current ensure example, face demonstrated ranging For of technology where manufacturing best right They as Cybersecurity, critical threat would Gary new The the webinar security and risk CSPi's other sectors to cloud-based substantial how Cybersecurity's solutions on high-profile attack financial, They and are guide winds select new discussed Engineering, how ARIA recent Pfizer have Automation practice regulatory, AI critical today's manufacturers landscape. attacks, need reputational are the failed. LaBonty. against to infrastructure, Jim manufacturing failing a into of recently operations have range a defenses in challenges existing wide They retired OT solutions issues General attacks to creating hosted embedded for to delved ARIA protected. to webinar focus era Global of environments Manager address with from such manufacturers on

are going additional every planning forward. We quarter webinars

Additionally, we Conference months, have DistribuTECH -- coming in the we in will International Orlando. the Houston, be attending conference the several conferences in manufacturing CSXCA and including

demonstrating chemical very are security our offering. customers current natural the breadth pharmaceuticals, and Our of

In on AZT through access no of can't companies their dealing the given is industry of limit, we wide fact, offering there range with constant attacks no needs enterprises. our

which to basically pursue while it's elephants take ensure and to is which is to as able deliver results, hunting focused close. important team smaller Our remains goal to consistent up just the transactions several months still can to means

to continued ARIA's company have fiscal a to and firm to on serves their week position customer depth and cybersecurity for and throughout worldwide, Protect, enterprises success around expertise, XXXX. we which addition optimistic including of drive of adoption leading reseller, including world. the Trust remain summarize, greater in ARIA of Additionally, the To to Zero X,XXX greater resellers companies continue large add knowledge, focus this a the we cautiously leverage

financial generating of will brief past businesses, the the We has the which over I that, first TS provide business, the offering overview now of to and the fiscal Gary the With is the stellar quarter through within and buzz ask significant throughout organization the reemergence been have AZT HPP driver Gary? X growth years, few industry. performance. a

you, Victor. Thank

December quarter. XX, certain signed been compared is end million QX. That to of For revenue revenue XXXX, expected higher. could have ago of $XX.X the reported year first we fiscal ended quarter were in contracts first as $XX.X if the the The towards million

signed quarter will were in of there the the revenue. this pushouts season end year contracts fiscal QX were the earlier benefit However, and to signed holiday and

decrease or or was $X.X of prior due the XX.X% products. lower to the year period revenue to margin compared million in Our the QX gross year margin business gross of ago same The XX.X% compared the as and revenue mix $X.X period. of million to was in anticipated revenue

We the continue believe as and gross especially AZT to products higher-margin business our will transitions, the services. to expand offering, margin

fill outside engineering from fiscal some not lower For were year fiscal quarter and expenses first $XXX,XXX, open elected development $XXX,XXX our and the positions. reduced quarter, the to as we contractors ago

XX, first slight to our costs December several of for in the attributable quarter year-over-year-over-year have $X.X fiscal of to and The increased and ended XX, the this the $X.XX quarter year and $X.X in as first quarter. conference of million robust to of December allows increase agreements compared million $XX.X ago help was believe salespeople offering. XXXX, $XX.X loss fiscal of financial company income been net implement SG&A slight December past XX, the to Our had is to $X equivalents addition our XXXX. awareness XXXX. The equivalents of per share million of cash $XX,XXX of position versus leverage net cash per XX, quarter and us for to or operating first September as We successfully if million the a or diluted successful share the diluted fiscal reported be ended to necessary, first flexible cash fiscal initiatives, for $X.XX us the compared raise AZT million compared participation customer large and finance highly We which CSPi. cash XXXX

record Directors it earlier, of per on the take over payable share, I business quarterly to on Board on turn to close of XX, your to With approved March of Victor $X.XX in mentioned XXXX. dividend the questions. operator an the X, to will that, XXXX, increase the shareholders February As

Brett Instructions] from coming question Certainly. today with Your for Davidson is [Operator Investletter. first

land bigger Good morning. Must pretty finally to that deal? be satisfying

god. Oh, my

sales are thinking, too, to thinking as right changed I along you And you pretty the past. Has more added in some Is Or as so add there set guys I'm far that now? know any? the salespeople, your plans lines?

No, we're right now. people other interviewing

adding So we'll the -- future. plan this in we that to on quarter

these Has of overall? grants kind the tying philosophy? it or As prospects changed like the people compensation far company of share to like the as company's

we when table of these to is that All the individuals. talk on

I'd love there that invested working mean I and this performance the selling the the company. highly to in are of Yes. see people thing

the bit all over on be I just little Or is that day, going run going how recognition to through would going that income be Is out contract think to statement? revenue idea. a once? spread that a that be great is the to at that the of then And time? other

once. That's all at

more changed progress And Okay, so at drop business Is the any all? will Nice. quarter? business? that that was kind getting rolling here on there talked, time of we last know this cruise Has still ship I slow coming the again. that cruise

but mention on we're a the bunch cruise moved past. we of work to can't to of doing ships. We we've in out We what lot rolling of progress the into have Yes. in be over we're technology the form -- and different done with these I can as to some will travel them, new a made yes, a kind little with But of work past. remote. it much from than coming the kind do next it it's cruise a We as gave won't us we it income that couple used of lines a quarters. line, new

what that business of does size the like? And look

hundreds the thousands. in It's of

that lines? can this Got pretty take it. the to still like Or this? And all much is this of cruise certain applicable advantage is customers just

the Getting not of half every in yet. just talking line line every it No, we're it, cruise about is to front cruise battle. them could do

And not release that use guys the discussing company, name that. you company deal able that when potential you pharmaceutical with know did of with guys Interesting. Yes. other customers? name the are the Are you I to of sales

permission, yes. With

So that -- possibility that a you is

have yes. ask to We permission,

Yes, referenceable account. they are a

was What Gary? that,

but account, accounts. to do approval referenceable get a on need we are the their They

of pretty Got seeing to here. hope it. press more those I succession releases. exciting it Well, in All was rapid see right. them

organizations, anything with to don't -- as people had times, way of hold large these takes dry -- large soon earlier, them, expected. I these being on the with close back. to -- working some I longer everything numerous ink I As thought working was said than as but Until I said numerous

Some I it needed large XX is signatures in XX things weeks. getting of guess not -- and organization these months, signatures a takes

product, that headed of It contract your in have. kind path. doubt through right was nice the that down are in that Yes. big Well, lingering it's see always first to to how No you matter back. It's there's the confident -- confirming come the nice

Exactly. Yes. Exactly.

there Yes. you forward the I'm Bring behind you. big see and glad finally to very Great job. put plenty more. deal that. to with along Glad that everybody looking

support. Yes. We're your trying. We're trying. Appreciate Thanks, Brett.

question is Nerges coming next Investments. Joseph Your from with Segren

been so that? rolled companies know how risk of damage by with an only. We're indication on of you there the quick the That's for are meeting. where into paid to Merck, just OT here, years the there. the do type how was product had tell XXX% I is I separate annual of is nice a some as had X when there know I game-changing very which the breach maybe the let do road increase the the environment insurance room don't things. I from damage these possibility a meetings That's -- breaches? breach, kind had investor the policy you ago. can annual yet. these how annual an much know the the how to down we release and much last and environments just contract to I've at that standpoint, was to done Or But for all standing is briefly just of number news, news. know went just -- involved want the environment that out we standing room from market not at meeting. to let's breached have at not we'll of to was in breach, that the this a The good everybody $X.X people opposed with companies? the only a week, award was OT damages the we meeting bad attendance. be pharma we that Or say Merck you the your insurance of IT A a And mean of researched Merck X couple guys on billion. give one?

each I idea, I how -- have Joe. no idea have no

Yes, companies know extended mean high provide be are policy security see you be for the be premiums factories. that environment, see mean work, don't either I I'm policy I on sky you when -- will will an time, saying, just so could -- companies the either the I but kind on where award. costs that type or no dramatic. I or these how you down better insurance and when quite hit of the pressuring you of take could there could period of to they imagine these the premiums OT

hard you, I very it. insurance. the they're give have to can case And tell to what you don't you we any protection, you a They we on get help. our in to to Because companies, if insurance cybersecurity. line have implement need go to nothing. a get taking don't Joe, that tools as in And just just you small talking any our company, as will had such

best and words, breed early PROTECT I guess property. that -- of point insurance you become -- that's rollout be course, that the Well we're PROTECT the of annual known things OT if mentioned. would ourselves demand goes hoping end couple And the in We'll the too almost trying even companies, could for well A recognize make. from the or yourself down of see the companies, with One can. environment, at to just the to the the AZT then best a we road. meeting product. you get I'm either how can benefits protect that the there begin other was to AZT to enough your in you the intellectual insurance to I'm

that have X more have, what And this said, Is was said to I'm you trying patents Victor, or X awarded. that. think -- recall you pending? -- I we we X there that do on what

are that in the X that X are stage. approved, last total. X already waiting

February, any just one was sure waiting It's memory I I no has right, serves that of stage more -- in And then issues. the the think making think March supposed somewhere. my be X it me are to if of

Longer term.

Review. review The process.

Or And I tied almost the of the is -- all to platform, right? assume it ARIA

AZT. It's It's on all it, are X yep. all the

of the R&D, A software the to Okay. think And couple beta what you expanding I testing what Android things. ask We're tests we're in there. -- We're X said I on you devices that you're saying? are we did doing? out Is now.

on yep. map. the on map, the is it's Android road Yes, road

multiple think one the some reviewed capability, adding by service where I providers managed of be can screen at even you And were to screens these time?

in on still It's on the the road. We're Yes. Yes. roadmap. It's the development.

I out Yes. in. in had now. you people that you weren't versions July, Version PROTECT then, know in we I before like on out now realize was it out X multiple AZT Do multiple on are lot a I version you're We we added PROTECT know versions, don't we or there. on came think be there what when introduced came course, that of X. gone were we the And must the AZT what version with It first that. wasn't of X we version Linux, right? since the don't mean you product? through

No, think XX. we're I on like

Really?

I think, yes.

again. that Say

most We've it's number the version, out with years of But this people extensively. advanced not come over a pretty X.X. we're when Sometimes there.

Yes.

moved release took for longer they And truly sell past development one I that's willing all version the to lot had before was the of mentioned we to a the that to in and functionality it and customers functionality think they a off was I whistles that available why goal large as then our it. a that get immediately along. we've add sign But of our the bells needed about, kind lot talked through on first original July. this before of and out the were was and

product it. more with like built, Wow, we said. on board be result that the a assuming utilized industry you finally was across we perfect. And end almost it I'm any can out The robust came what when

altogether? reseller that signed contract, group this is was on thing, you system that X Or One of X? last talked agreement -- just a separate major was this you Was that one just the about a this is the the Okay. X signed major contract integrators. -- time

a separate No, it's group.

you X a had we separate or other major time. talking -- integrators about Is -- X It's I the We this last now think were haven't group. that

half integrators. are I We're real billions. a dozen think of in Yes. say size the a decent I sales annual about couple that is There's -- would this

you're quick requirements is point mean talking about? reseller? And with you of just any the contract contract, number what it that the in them versus When one Or signed you're this. contract on I what's is a different contract of talking could the to contract have performance others? just for the the there the signed a a any

at look hoping this are a if and line their they contract of enough of that signed to there's let's that's that's but a there, their need product it of feedback over customers. have say lot and gap. And and out right? stages. They're was get a a say line, because not truly they it to I product. from already -- months product that through is some looking different I sign it, A), new talking certain product a only not of get brought product customers' that these it, and for ones a out half guaranteeing of go a It where anybody the of finish sales every larger at Well, took of course, least -- at quoted the they're our need by can they the then some too, customers talking but we what would the there's them and they're there's that looking and dozen there's something real bring anything face least at believe can into their It's products -- environments. their then there's And at course revenue in they would We're on can believe looking for. kind gap of with amount getting a not a onetime they big customers them also X in a about bringing customers of process

for talk some at need customers to have that a looked somewhere target XXX the that can potential over AZT. least that sort we of I we that is think may at

that's great. expand. market mean it's to a I huge Well, Okay.

words, brought talked down you often group the you you up and point, other -- to buy that TS that one this either the -- at the are annual meeting, are after in into ever people about those get offerings. Has or a of there service Just services. you Or talks managed at for get looking calls buy you In talks TS offerings. group just They any all, not those buy reached want managed our dollar? not other to have we're interested? our advanced

business. just No, on we're building concentrating the

people But market you to calls have sell Okay. to fielded want or know if is we're the even in you're saying? what

a that there's I It's a about that building few lot phone e-mails, picking monthly now, with. of up me But recurring catch that conversations revenue. it's people Yes. just and actually the have right

have to questions AZT. these talks never some for see board floating time lot, -- interest like out a interested at some what guys. than that a It other are the the is there of of Thanks, we're you're numbers we're all. big a get just just pure Well saying thanks Yeah, matter people to it. progressed across if appreciate seems

Your from Will next Visionary question Wealth coming for Advisors. Lauber with today is

is our how AZT Can you some recurring been priced. Is monthly confusion the -- subscription? a on there's product end that being

Yes.

where will a us mentioned they months, be recurring. test a more fee after of with an crowd just could a forward, helped yearly they onetime the Moving forward agreement upfront monthly a this made organization, it that. that recurring. Gary monthly strike purchase as model moving it's it XX the upfront. And like that is one it is But maintenance because with it customers, for we had with pharmaceutical

site Okay. And priced -- or is that by

say, the Per a user laptops user. we're were the Per If end would with it Per server truly the endpoint I basically for server protecting there's that. be we're which endpoint in as licenses -- application. -- the should user. we're VMs, as in XX not XX because

X,XXX you do servers, you on If that. math can the have

just there Or of Does things one that I think in noticed that still like include compared company, ones site. on some release I early Fortune that could chemical one guess guess was come this all I in latest this be manufacturing some that pharmaceutical I their the later? particular, company, of And Okay. sites? the XXX for to -- does is that

No first This once then out, these Yes. just what's hoping see the it's is but we'll guarantee, next. phase. -- we I'm roll

add that? how And to be that has that plant are full that? company, make it is is going each the then that? with does -- Or how Or to have manufacturing with things to that manager decision

company is that? On which

The company. chemical

we location process. unfortunately separately. have a little and pushed with level, been deal the for is Yes, it's to the out but a a every challenging, other rollout pharmaceutical, corporate with each than this it's to Where It's us one. from this deal being easier

It's in one facility the now. that What's many facilities? potential with customer? How

I want say XX to sites. there's

And how interest guys you been Or right. All the kind have rule cybersecurity? SEC any increased is of about that seeing from playing out?

it's Not talking what don't. you if one protection, about as could We're using happen we points. selling of only but time there about it, we're our it. Every it talk a sales -- and it's out the

question next Price, Your shareholder. is Mike a from coming

press the appreciate vague. releases, I they're but pretty

deterrent. evaluate a buyers, new dollar, you a who a your is? house putting security, buyer like And disseminating It in seems up no could is their but front said of saying it and secure It to them there's the in the it's protected seems way the customer, this of of to said CSPi. everybody's have by to that credibility that's And buyer AZT sign reference to as going interest, a for be to what multimillion All the almost us and what you impact revenues. about with use gives publicly trying I'm for in like permission. best

set the permission. I on as then know what have Too, to have a someone's can calling say could basis. if It a customer, we it's we reference, don't name. legally, customer them? I do, the up, they for of they can this It's and it do what up works use potentially to the we are hack. part like their they to Basically know they would how I can cannot Too, speak it move was to willing I to we and reason. use saying opposite. you, can talk yes, permission time Any they with you name And forward. contract, then conditions. That call, is, terms If would a the didn't, If right use to would we like I have then in said it.

Okay.

give conference buyers said call, potential that? of you were you update the in On an AZT. XX on you with discussions last Can us

you that but no don't exactly. want talking guys have Again, We're some some that have are state all I've is, me on when I contracts, because progressing. then idea. yes, There's again, Yes, after progressed. moving. to got I it But they're driving crazy

off. sell Some

Some have love of off, for months. don't in. the shows budget we we're come well them X sales it, But us. a fall normal did game. setting some for we And It's -- said, some

POCs there We after long how we'll where came that. have it the some have to they deal. And testing, product, see are it. from the takes they're testing shows multiple that in But the close the then progressing

it's We up audience, -- have we'll March, that we be up as more right them. they're come they which believe coming the a couple of in and attending shows

have disseminate something And a sells to places, actually reseller that you if it Okay. as AZT, the sell you this yourself? when you'll same is

Correct. Correct. Exactly. Yes.

each question quarter? calls you back this asked stock. I any buying Did last about last stock conference X buy of And Okay. the

No, the personally again company did quarter. last bought I stock not. some

forward. almost had I use cybersecurity, stock And a today shareholders' I the saw dividend, thoughts definitely again, couldn't it and you good $X, it quite that still earlier. we question. been changing better timing. And seems the for going $X it paint issue cash. with roadway good down It same the you have the like the there's down but increase use the of like us, company? Any down bought the final more with seems runway was here. the of of going seems about like One mean name company the Appreciate in Cybersecurity? is It cash ARIA a towards it.

have they business. the of other the we why That's business, the under still ARIA have CSPi because umbrella TS Cybersecurity

Heiber is from today for coming Research. question next Your Heiber with Sergio

contracts? amount you the that the Congratulations about without the I wondering understand the why I'm can't disclose disclose customer on that progress you're but customer's the you -- can't permission, making. of

don't we disclose we are. given never recognize we when -- next the actually -- it. contracts normally and amounts we they We'll exact what give quarter have Because of

difficult It's in there plans how are. put the much ask. guidance. provide giving stock the without the I investors why And a future? for to you're any that's on price contracts guidance to And Are knowing not

right but Potentially, now. not

the product that competition? sells not contracts amount you're the what to giving out competition Is for? Not the the of reason give away because the to of

That's part of it, yes.

you I I And you. don't from I pose how Seeking if question. I'll developing AZT But of large Okay. a that And product department. know the IP? customers figured their companies my this of then have are they would own Why that product know enterprises from question, it it's and you're instead IT Alpha the entities be fair don't the for article. I answer to have and selling and a reader a their the question to

he's if is or potentially They little But I'm he's it. the manage do asking what want help on expertise, to their the I develop product possible who doesn't for the IT? a some asking. own that's own the have IT someone of could their Okay, guess. have department not, else to confused their everything department own we you detection product and security time enough protection with whether But could you they in goes inspection anybody if that. IT yes. through a department, With money, answer if and have do that own and them, type that along need still or your But security

than we either. is from that it of so question the complexity And many to the don't out how there's nothing question. including answer this how trying think that I understands more know How is. the one me, it figure and to there, else trying couldn't person, like there disruptive experts out And we that? the and the products that can think product are out. I security and I can't they asked we're field investors judge and figure came Basically, average Look, do I've answer person. in

there's over of I've calls, I don't it's mentioned the you of companies which the it years it. a a space. couple The know all Palo second exactly big X,XXX sizes. number, tier was security a on name other boys. I crowded Everybody think but knows Then Altos,

how the Because the at biggest tested we not course, God test people be. the day. companies have it is having other existing later and who's value yourselves? products. Linux believe a every the the the how really -- not really I choose it how versions they but why for at you be go back. customers crowded fit only need. these supporting think have It's the Of but products. it does to there we on the deal fills over Winning deal. space, product, and old resources. us some beautiful, It over security-wise we option have versions. of company But suggest had to the can many, them at They testing, course, with And was They we option on from with we especially of product, where the the go many sold out Windows, webinar of it's the product XP the are all these you our older our can may That's need, contract, -- way to, look year have literally to heard when tool. They everybody other do kind look baby to call, selling of And that's this, different, our their that not complement the separate product phone we we challenge do looked after a that's our took a These -- this this breaks ones, just going knocking everybody it to months everything. and a knows the the current close to back door. as XX on we're Windows. that we the did. down Not all and of

Jim but that void. think if you like or a void. we fill I they're Crowd that can at Striker, -- on Clarity they look webinar a there's And LaBonty necessary, a mentioned have the

that's X that's there they we a exclusively out can they'll are use want, can you products detect, the There's won't if but to gap. complement us some you products that existing Now fill X And beautiful prevent. kind zero it, or days zero god, or and got my and months I've day. oh Not we day patch or in me on do to go we go give where to it. step or days of we'll X patch that take it, a attack week

and many message. product, is and we and get the to Give Our as the the our evangelize out, POC, we performance chance a show to to issue us possibly that up show beat us a need biggest talk we're everything message do customers let of can to doing to it you product.

Thank you for that.

making been considering you hasn't think year we out AZT? I product seeing progress yet. great start revenue When will the are a guys from

quarter. Next

pharmaceutical the that is And contract?

there'll bang model. we that because be the that revenue it onetime all then going monthly hoping X there's as a the big up customers, And sold to that them place. way will we I we're into And But recurring Yes. to told sell you're you, fall customers to is deal. them other want hear to that pharmaceutical like the like more other from a -- build

revenue? there on Excellent. And fees will be the recurring upfront

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for more time X have We questioners.

coming is Paul Scolardi, from Your investor. next a question private

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coming is Crotty, today for private question from a investor. final John Your

say Just congratulations great a want quarter. to on

accomplished the you you actually going said last quarter. in guys were You everything to do

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Are like from deal and hook, You realize down they your resellers? assisting needing their anyway, as saw customer. about Especially smaller large company you just any mandate feedback Australia, they other one should we they in insurance partners Florida here won't a but you a guys in would but Are calling XX the and assistance? have in think phone be you any you MSP large know, a these off any -- mean of Like guys. Any them? I have cover everyone be have are of the do well. when feedback? I I pre-existing regarding And We with ones, your my know you anticipate a lot it, questions. to ringing resellers. the

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on like You're of in What an pre-existing they doing Australia? have the that's side of And partnership the Logitech strictly been behalf a that about deal. over again, AZT reseller the mandate.

what equivalent wondering may they're you. Just seeing and they if be to

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with company oil mix you're seeing more or of are they last like won? Or Are my they gas? Or just they leads. your do product And to Okay. question the recently even? ed has more more Are infrastructure type manufacturing, and electrical, higher with like like government? you

the The talking is a to definitely a few right now. we're segment area, quite X talking pharmaceutical to gas medical, that Oil are people. and ones top we're those probably that

Okay. Fair enough.

guys, mix. was Okay. much forward to and attending the just thank so you to it, trying right, No, next quarter as look and good well. get All that a meeting

and remarks. the the turn over the I session, will We to Victor of question-and-answer closing now end call have reached for

Thank you.

our want I always, shareholders to interest and thank support. As for your continued

of period activity well and be a our on we XXXX entering safe. Until progress look then, May. in next are We to the sharing and increased second quarter stay fiscal forward

Thank may conference, at you concludes participation. you lines for your disconnect This this your today's and time.