Laser Photonics Corporation (LASE) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, Operator. With me today are Wayne Topola, Laser Photonics CEO, and Carlos Sardinas, the company's VP of Finance. Any forward-looking statements made during this conference call, whether general or specific in nature, are subject to risks and uncertainties that may cause the actual results to differ materially from those that the company anticipates. These risks and uncertainties include, but are not limited to, the specific risks and uncertainties discussed in the reports the company periodically files with the SEC. Laser Photonics assumes no obligation to either update any forward-looking statements that it has made or may make or to update the factors that may cause actual results to differ materially from those they forecast. I will now turn the call over to Wayne, Laser Photonics Chief Executive Officer. Good morning ladies and gentlemen. Thank you for joining us. This morning we reported second quarter 2024 results. Regarding the lower revenue, we believe approximately $1 million was deferred into the second half of the year. This deferral was simply a timing issue with several customers whose capital expenditure review and approval processes were delayed. While this was disappointing, we haven't seen any evidence that this is more than a delay in the future quarter. Moving to our growth and operational excellence initiatives, as we mentioned each quarter, sales and marketing remain key areas of focus and investment for us. To this end, we recently announced a partnership with Echelon One to further our efforts to bring cleantech systems to the Department of Defense. More recently, we announced the addition of four new roles to help grow our sales in laser systems, all licensed from Phonon. we believe will help drive sales across our various verticals...