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spk_0: greetings and welcome to the galaxy next generations first quarter twenty twenty three earnings results conference call at this time all participants are in a listen only mode a beef question and answer session will follow the formal presentation if anyone should acquire operated assistance during the conference distress stars it on your telephone keypad as a reminder this conference is being recorded it is now my pleasure to introduce to your host megyn mcgahee cfl thank you you may begin
spk_1: thank you and good afternoon everyone power from the galaxy next generations of first quarter of fiscal year two thousand twenty three conference call learning for really for the company today's call a distributed seventy four earlier this morning and are remarked today we want lead statement that are considered or looking within the name of security ball including bored looking the excitement about future adult the operation business strategy than plans or relationship with our customers market and potential growth opportunities in addition management will make additional forward looking statements in response to your question forward looking statements are based on maintenance current knowledge and expectations as of today and are subjected for certain risk and uncertainty that may call the actual results to differ materially materially from the board looking statements a detailed discussion of such risk and uncertainty are contained and our most recent born ten k and other reports of with the fcc the company undertake no obligation to abate any bored looking statements to it that i can now start or call today and again thank you everyone for for joining the morning to discuss our financial operational result of our first quarter ended september thirtieth twenty twenty two that we're making progress towards achieving leadership in a rapidly growing market for interactive caution technology galaxy fleet of pollution is centered around our primary mission which is the increase in engagement and achievement within a secure environment by leveraging are intuitive systems and user friendly technology for teachers and schools are perpetually faking to optimize their learning environments flexibility and safety have become paramount to the modern classroom goldman government organizations have recently increased budget allocation for innovative solutions to enable the bastard would provide the that significant great opportunity for business and particular the school safety and security market is a substantial opportunity and we're receiving isn't a good amount of interest energy to secure solution for both existing and new customers the recent security stimulus which allocated one billion dollars and additional funding to go for student health and safety replied for watford support of addressing these issues and then that the vast majority of the funding has yet to be deployed rg to secure system which strengthens communication between faculty administration an external parties for the first responders is a much needed improvement over legacy solution and the first quarter we continue to expand our network every feller partnership with a focus on highly accredited organization that have national footprint we are pleased that sand on three marquee partnership or laugh earning conference call namely a three communication camp or and most recently blame family known a truck though a three is one of the country fastest growing system been writer that has a massive of national coverage model camp or which has a family year operating history has a strong for hold on many educational technology of security contract at the national state and local levels and then family blame north america's leading education technology solution provider has over a hundred and fifty fell representative that reach over twenty six million students with the technology than earth is that they on weird to work with each of these things as part of our accelerated get a market strategy and we look forward to going our business together a reseller partnership now consists of nearly fifty nationally renowned and regional bachelor which we don't believe will allow galaxy to effectively capture market share among their local school system galaxy growing recognition in the education industry is reflected our ability to security or partnership we're also proud to receive top awards from leading publication the media brands in the education industry including papers are learning and the journal i felt makes have continued to skew towards higher margin products such as the duty communicator or digital intercom platform that offers both flexibility and skill ability thirty integration crawford the shift along with a more robust internal cell function and retailer network position that well for sustainable long term growth i'm also in reference to that i'd like to remind on every one of our are both ip most that we built to protect the underlying value of these technologies which we believe that the critical component of our growth strategy we now have to patent a issued and to patent pending in relation to do to communicator and you to link a a critical path schools and best solution that in a boy more effective save and overall positive working about as the billion dollars a girl federal funding unemployed over the coming years out he could very well prepared to demonstrate the value of our systems the crowbar product wait i will provide an overview of financial an operational results from remote been that that hundred thirty or twenty twenty three momentarily however about the first provide from contact the fourth quarter of fiscal two thousand twenty two with a transitional period for our company and we moved away from always telling our classroom audio solution to our partners and shipped back under the gg brand this resulted in our operating oh i'm sorry this resulted in reporting a very minimal revenues for the fourth quarter however first quarter results reflect our ability to quickly recover our revenue base although we did it for the decline revenue in the first quarter compared the same quarter last year with are tremendous increase from two for into key one i like golf know that in comparison to last year's first quarter and including deferred revenue rolling about four hundred thousand dollars off the mark the privilege reported in the compared to twenty twenty two quarter operationally we are already thing the benefit of the train on trump transition become apparent and we expect it to incrementally benefit are operating result over the remainder of the fiscal year and beyond revenues were approximately six hundred and twenty thousand compared to one point seven million in the prior quarter the phone revenue made up of brought my six hundred fifty and at the end of a quarter the date decrease in revenue during a corner with due to delay the supply chain on issue which resulted in a large increase in the deferred revenue a quarter ram gross profit the product my three hundred and fifty four thousand which compare to go profit of six hundred fifty six thousand and the prior year the resulting gross margin with fifty seven percent for the first quarter an increase from forty percent and the carrier quarter reflecting a shirt and are filled next toward the higher profit margin products general and administrative expenses for one point six million in the first fiscal quarter compared to one point five million and a paleo quarter net loss was on point five million for the first quarter compared to an egg net lot of my to enter a feldman on the prairie a quarter company up and use of non gaap it does that even on numbers to measure the strength of the underlying operations of our business for the first to go quarter we showed a non gaap adjusted even all off of a million compared to other of the david off an upright approximately forty thousand the party a quarter putting to balance sheets we ended the corner with a shareholders that that of the price point three point four million a total assets or four point six million which is flat compared to four point six and a year on million at the end of fiscal year two thousand twenty two cash and cash equivalent total price my two hundred seventy thousand as a fiscal year and compared to my three hundred thousand as the end of the fiscal year twenty twenty two we recorded total ability the eight million which compared to six point eight million for your him and finally on the topic of gotta to expect our annual revenue to be at least six million which represent the or a group of at least fifty percent from two to twenty twenty two if expected increase in revenue reflects art art fainted fill team and reseller partnership network
spk_2: we continue to focus on strengthening our balance sheet in preparation for that short term operational gold and ultimately our long term growth on and with that our open the call out with car to the question and answer session
spk_0: thank you we will now be conducting a question and answer session if you'd like to ask a question please stress star one on your telephone phone keypad a confirmation toned will indicate your line is in the question que you metres star to if you'd like to remove your question from the que or participants using speaker recruitment it may be necessary to pick up your hands said before pressing the starkey one moment please one reports for questions to ask a question keys us distress star one now reminded about such and such a rush to ask a question stress star followed by one on your touchstone for now
spk_1: occupants are wish to ask a question star one i believe if we have an eye opener follow star one yes
spk_0: i believe if we have no follow up question we came move moved to the conclusion of today call i think you all for joining us on our call today as we look ahead we continue to focus on building out our brand and or channel partners to drop it isn't great quarter over quarter or we look forward to the remainder of fiscal year twenty twenty three i've we increasingly demonstrate the
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