Unidentified Analyst: Okay. So pretty consistent with the rest of the year. And then, bullet number four, where you say your AI machine vision revenue more than doubled in 2022. Is your classification of AI machine vision revenue, is that software only or is it recurring revenue only or is it software, hardware and recurring revenue everything related to anything AI?
Shai Lustgarten: Everything and anything related to AI.
Unidentified Analyst: Okay. So it’s the cameras, it’s the software, it’s the recurring revenue component, it’s the installation, it’s everything.
Shai Lustgarten: Yes.
Neev Nissenson: That is correct.
Unidentified Analyst: And one last thing that I just want to clarify. Shai, when you were asked about the recurring revenue component of the 20 fast food locations that could expand to 100s. You said that the recurring revenue was 25% and that you wanted to going forward with new customers make it – get it up to 60% But what are we talking about? 25% and 60% of what?
Shai Lustgarten: So again, it depends on the amount of — it varies every location. Is not the same and depends on the cameras, amount of sensors that we have to deploy and size of the location as well. So that’s kind of very — and you’re looking at —
Unidentified Analyst: Is it 25% of the initial hardware cost? Or is it — I don’t understand it’s a percentage of what number.
Shai Lustgarten: It’s 25% of the total revenue per deployment.
Unidentified Analyst: Okay. Okay. Got it. Okay. So what I really would be interested to hear you talk a little bit more about Shai is you’ve got this enormous list of legacy customers, the Fortune 500 customers, Fortune 100 customers. They’re in all these different verticals, grocery, tire manufacturers, retail, paint companies on and on and on. Talk a little bit about what you’re doing with these companies now that’s generating the tens of millions of dollars of revenue every year and talk about what it is that you want to move them to. You talk about wanting for them to move from what they’re doing now to the AI related products for supply chain and inventory management. Can you talk a little bit about what exactly your vision is for them to move to and what’s the timeframe until we might see one or two of these customers actually do it?
Shai Lustgarten: Yes. So what we do for our customer — existing customers today is we create automation for them. And this automation of the supply chain levels within warehouses, within their distribution centers, within their stores, within the transportation, between each of these levels as well. The automation that we create is creating the efficiencies. And it all is based on what we do for them today is all based on image processing. Now image processing that identifies objects and mostly is done today by either scanning barcodes and that’s how you identify the object and that’s how now you know what’s going on and what’s where and the assets when they reach a location, if there is anything missing and create all that and we aggregate all that data of the objects we identify within the warehouses, within the distribution centers at each of the steps of the way of the workflow, for example.
And we aggregate that data and integrate it into the different ERP systems. And that’s how you start creating the automation and analytics and that’s how they run their operation. And it’s all based like I mentioned on image processing of barcodes and scanning the barcodes and — but it’s still — that’s image processing where what we want to do is continue to do the same thing, but replace the image processing technology, which is today based on scanning of barcode to replace that with our machine vision technology that would not only identify the barcode, but now look at the whole product and create a much higher confidence level in the identification, eliminate many, many millions of dollars of errors, tens of millions of dollars of errors for each of our customers by providing a better identification process and then aggregate that same data into the ERP systems, get the analytics, but it will be in real time.
