Release Date: November 13, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide an update on the expected launch of the European carrier and any developments with SafePath Global? A: William Smith, CEO: We fully expect the European carrier to launch before the end of the year. We are also seeing good traction with SafePath OS through the Competitive Carrier Association (CCA) and expect more member carriers to follow. Overall, we are optimistic about the growth of our sales and customer relationships.
Q: What is contributing to the projected $500,000 sequential revenue increase for December? A: William Smith, CEO: The increase comes from a combination of activities with current and new customers. We are also focusing on reducing expenses, which will help narrow losses and lead us to profitability in 2025.
Q: Could you elaborate on the SafePath OS business model and its potential in Europe? A: William Smith, CEO: SafePath OS operates on a subscription model, providing recurring monthly fees. It aligns with carriers' strengths in selling devices and rate plans. Europe presents a significant opportunity as it is largely a Greenfield market for family safety solutions.
Q: How were the additional cost savings achieved, and is there potential for more reductions? A: James Kempton, CFO: We achieved more savings than initially targeted through our third-quarter activities. We do not currently plan additional reductions, but we will continue to manage costs effectively.
Q: What is the cash runway following the recent capital raise? A: James Kempton, CFO: We ended the third quarter with $1.5 million in cash and raised an additional $6.4 million. This, combined with our efforts to reduce losses, provides a clearer path to profitability.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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