BitNile (NILE)

Ron Parham LHA, IR
Milton Todd Ault III Chairman & CEO
Will Horne CFO
[Call starts abruptly]
Call transcript
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Ron Parham

DPW Holdings Second Quarter Business Update. This is Ron Parham of LHA Investor Relations.

On the call today are Chairman and CEO, Todd Ault III; and CFO, Will Horne. They will provide a business update and touch on the preliminary second quarter results that the company announced earlier today.

You will find that press release in the Investor Relations section of the company's website at ir.dpwholdings.com.

time call this Todd or Exchange within presentation made and time of the be Will, oral XXE the turn DPW Section of from that of of XXXX, XXA Act advised and to Securities meaning I of over forward-looking Securities of and to XXXX. please statements Holdings Section Before contain representatives the statements Act are the other amended, written as

statements similar operate, the that such include, expansion, by reflect outlook. future, and view or may words current assumes, contained statements development, anticipates, marketing negative business, the may their in in the future events, and capital this statements. like terms be of not strategy, are statements nature meaning future projects, sales not are the and these Forward-looking offer are other estimates as limited industry about historical business forward-looking in words and identified for products believe, our they of to forecast to the we Such use timing of be, expects, we and strategy, which presentation the relating we which in services growth, could and statements the

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Milton Todd Ault III

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there trade-off; have a a you a better, you CapEx negative is also got but you've got tough market, So Bitcoin, that's really right. way pricing a

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what's in crypto to really I an the you over large we a as holding should long-term, -- we're a best have we shareholders. that companies Board close be shareholders, and Board space anyways best opportunity is we're and to the are large attention what early we bigger CEO for this evaluating them members for to lot there the trading evaluate, less briefed doing of than XXXX, pay and one there that as would as a on and assets on are place -- and here clearly our and our me to our active so as XXXX company cap; I'm our mining should in in I the bullish shareholders and So you benefit the I'm pretty move of part. the shareholder, crypto next discussions space expect there are the we're multiples our going top make see we are you in the that to do, we for going Bitcoin priorities multiples to that benefit, do sure rest whole on that that this than something got market to space on we're have category. of comfortable the I'm and really we're to is putting

to see it the we're to to go and that amount numbers was the the X,XXX. continue this internally, lower We prudent year. we to difficult in of crypto our half capabilities of saw for and mining we our see we throughout mining X,XXX, update it to thought go miners, invest very and down, adjust the you was up, to -- area second Clearly, the and us add second half and we numbers will repriced continue

we has of cap There now to from this about when at billion, and to all Bitcoin. them As we lowered reminds were you you restoration on a cap $XXX we're here. back X,XXX. think you there, market it -- is to under that me to stay lowering numbers remember, we we if had XX,XXX, Well, X,XXX, market them been what our cap probably move crypto market and have is of of [ph] XX,XXX, now and we lowered numbers of billion, XX,XXX, a in we I'll in look of our started lowered March, our you still and and $XXX strategy to

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Will Horne

Todd. am, I thank you

the Form preliminary is SEC. submission to sharing So financial remind review you with And Slide this figures are XX, we're metrics. today the to of preliminary, report and of to to quick Monday, our expect we're August we final timely and XX-Q key non-financial the a A on results moving X.

statement, we it compared to ended are up $X.X had quarter cost gross business to amount million $X.X and On discussing on and gross significant expected XX.X%, Obviously, margins. million ended, spend between that's operating a real coming and the of the and during preliminary decreased XX.X% maintained, QX of just an actually are second we costs million, that revenues Gross a time impact income QX revenues approximately that overall our in where quarter XXXX. back XXXX. cryptocurrency your Todd negative situation $X.X of in during current with of compares [indiscernible] in had was simple; margins as the mining -- the

in primarily costs are co-location operating Our and costs. costs crypto depreciation

amount this to includes million, net of $X.X approximately prior loss a $X.X loss million $X.X the million charges net $X.X we anticipate significant of to $X.X non-cash $X.X the million, of million. non-cash charges to compared XXXX, between with of Our quarter which to million comes

when it obligations, our just million $X significant verge backlog, order the got balance [indiscernible] of million. the $XX.X increased with Coolisys of significantly A XX indicators; that $XX.X forward June Obviously, that $XX strides, that assets the about in Again, with and you. shareholders of the first Stockholders over delisted. Todd. million $XX.X I by at XXXX. from Thank it goals company we XX, approximately assets expect XXXX. on compared XX, up was March was to turn our equity it On is with upto exchange, Todd stands to made so approximately actually total at one the as at company million really was March the being that's our requirements increase to of back our sheet, has equity, which less, will $XX.X million million to were involved total were million $XX.X one

Milton Todd Ault III

parts want I are the up really continue that covered some the important appreciate I $XX million, in million is sheet. to strengthen important to Will, say Thanks, and that assets, balance $XX for that Will future it. that Obviously,

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the XX,XXX. said, capacity we to we go As have to

transition near and now to year it's that too quarter we're only understand later important from acquisitions the happening. is that in in portion last a second that on million a rate a anticipated quarter as went later $XX rate, our include run and a IM in The revenue, It's Will of Enertec important addition, now, is allowed $XX In to from as so prior than you run revenue closed to rate. million the of as closings -- guidance. million -- to very their a so company that $XX I the us emphasized see pleased run to

of now, As of there lot a right there. changes happening is

unfortunately what it's to exactly thought this pie that strategy, I validating people us the whole see As does, as of them we'd we're like Bitcoin like a our really see doing. company, we know

as for and of a that's of for or We it to were can't as deploy as to well you growth, portfolio, add sold shareholders; monetize a opportunities continue to very key stress the would as to evaluate capital. spun-off, the be look something if strategy that I we part new and us important enough benefit to myself get shareholder

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have question-and-answer on questions so a the of And So we now. lot excited I'm about to section do move and let them. me answering

Milton Todd Ault III

works more for question And why the in will the this in very with our operations first acquisitions works our Will XX-Q? are two require in submission we're England, complex; your is operations is, that completed I till processing crazily, Israel. quarterly With reports came more hard. answer of reporting company in midnight a quarter, time, in pretty he Will. you last the global delayed And now

correctly is As bit X-day we in want done to reviewed make our our filings, integration grace Israeli little manner. we approach that the of new is of heavier a the and a to take sure subsidiary period

the his in take period. Will X-day with with grace that support So mind, audit the decision committee's XXX% decision to along in I

to demonstrated and he's Will has for report us to think issues be able to sense more I makes complex the shareholders this cautious that here. than

factors led of XXXX One were existing The our here, about combination this; that of factors -- with let the -- me trimming positive decline think full of deploying to and your year the Bitcoin, see miners, guidance. of primary of our let's a platform, to they're are. we and is factors less as than I'm worse no sure if Super one in our day because of we're generating that, doing clear you that at look Crypto can existing everyone market deny, market, revenue the it's bleeding competitors

I our I'm took I with in emphasize that to same able quarter; except the second so are for -- disappointed quarter, rate, quarter of a going up for their those factors. quarter will with close I'm apologize But marginally, XXX% those now in one So be revenue of $XX Enertec are the acquisition, so our weren't the we it to numbers done, to I'm happy IM. not really to million in $XX they that. third long integrated run the it's proud fully from way. benefit I'm from that million, want third that's primary the for the

doesn't speak about Well, at use I We if I for trading XX this be great levels? -- don't that other our going don't are See $X.XX. see company. this important as doesn't said in much and way, don't this. should we're we're question is doing we I tapping sold bigger in as Board for the have million questions shares a lot continue grow million just you charges we're and we the raise I $XXX the a know This incur getting purposes. and itself, need that and charges at to we the a to need in so a deploying we'd see capital think that apologize, stock non-cash ATM. is note to we company change to a and of much of right there when December to about company, I get a goal think job think time. them have we capital, ATM I acquisition at a non-cash especially and here; it's potential revenue, stated depressed the to how to the the I

grow you is as If plan roll manufacturer. event, to it's you X-year up continue and ability to to future, for to it's plan grow a it's your the a for in your asset listening a money, continue X-day especially you're make us not become to this if XX-year me, not this the a base event, a for December call X-day

anywhere, company, so with just signed the contract just going believe the I in with and As XX-year my wife, we future a business. I'm you the I'm know, largest shareholder of not the

at affect only And here, that that the R&D not the $X.XX, sales activity they I not on the engineering sell is would thing to -- to and X, from any right on, one below And of if we is pleased Keep come not being for I because we tell see going Power day-to-day ATM in been we're that too. more material. price there team while end little of more the these be to make to, gotten as it to unhappy now. North advanced them can slowdown only here. almost thin has to say know Power's very sell on the that's it, not What Enertec, want sales September number go that go do in mind that's can team adding we while America, unlikely Digital I continue I'm especially initiatives business? -- is of sell too, and levels. of for exploring shares going one when shares to the you you'll there are markets. very these out I it's on to me revived numbers are that be so with is the that that, this -- levels ATM on that the with is Digital the significantly none comment the I'm the I sale in down down going of $X.XX that gave use acquisition -- you anything to new at there anything, below handling with doesn't the that numbers. not the and include going revive me ATM, sell miners to I'm to this of you of sense the to So us our with no shares, unlogical especially forecast with

China, explit We're in So available of there How model and in early XX/XX/XX? mining Bitcoin, a should none from up of decided based minor We financing. value not Initial still we're to and should estimates we we we're included, on modeling model projection our to go are chip. cryptocurrencies X,XXX to remainder that and XX.X goal, using that made of operation is eventually to tear-ash Are the of whatever by with miners, because partner out American, you we dollar. of internally does threshold? to the happens have forward there the that's need business? capacity changed. shared for other dollar stock a the of reverse going the this cryptocurrency they current is should subject price you hedging same X,XXX split ends York hope don't we're on and are was are stock hedging, going for at by are the not specifically your XX,XXX are going New XX,XXX to our portion there goal because have that the NASDAQ being no and the the for we miner and is XX,XXX upside. -- We that it Samsung our to us miners in for Why reversing But get time, just miners that you the having no XXXX. to XXXX forecast rule we them XX,XXX that the [ph]

the there this I do I let changed, said reversing buying this If is and that, something materially know that no is time. would I you times, And so would at with want I've in chance to resist that no point but many stock all there can. buy except current be quite honestly, could. all legally stock levels, I fact, and stock, agreement, be to buy in I stock, have ability I'll and can that I contract my I more I when under these buying will the And

We're they are opportunities to if always independent. Super at be Crypto or a evaluate considering subsidiaries frankly things see in business. we at don't definitely a a at company, that can't of that's I and monetized reverse standalone and are So it better diversified As portfolio want spin-offs, way you assets? all. they divestitures look be to Are operated said earlier, -- looking going we to to holding we're

definitely getting that from I months, be that be important away will -- And next the doing six idea that's expect we're we we so here. over and not that something will

believe that really DPW to into that question; a do don't mistake mistake. getting had is I here this Bitcoin today made stay. in So a you fields? is the believe crypto-related a think we I made

going in a it's just market away. but not think it's I bear

of new and business substantially, Bitcoin and focus growing, some approved honestly, shareholders believe we're mistake do we a contracts to on I we've getting military real attention business the this quite some for pay it's only growing However, operations source. manufacturing to manufacturing contracts, when have been not for and it's cases a in to single

So source secret; of Department single in through companies. cases to and supplier order that that source for the by lot single are top go projects important, or a that be some to approved background need done, are for for you you we're for a get Defense to in of

them Force. of one contracts, the U.S. big with have We Air

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want As defense ramps and grow, should this deliver as budget that we in continues continue. our to the the more and backlog revenue customers contracts

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and continue backlog and to grow grow and So should grow grow and that theoretically grow.

to at look for cycle, it's if cycle an you think the I backlog. XX-month that So -- don't XX-month about a

unless it contracts. So doesn't winning stop away we go

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that ways an of think important Power Power Lending and that have and are the we our business, of and asked to that category, at in Lending, subsidiary financing looking note is is continue part We in at we loans this. one the Digital people various are things make end I'll strategic about level. on that I Digital not

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restarted are it's So it money a not some capital for money it a so example, raising spread, in small California Power in participates at traditional loans. and at a in Power should it's week Digital a different Digital it's paid which next like -- and and lender it for level borrows takes see like works weeks right; lends it coming those information on ahead and more rate, a subsidiary it things Lending that, out, bank, you businesses warrant lends and Lending. on the It

Will, Power on contribution so Lending there, is? give of holding our contributes them permanent Lending and business but -- did Power this it's don't it's Digital which ours do quarter can a way any preliminary think working on big what I -- for still contributed you I there Power what lot people you're for that a as if busy have you're is or know any Digital numbers of a call, know in the guidance on this you to I Digital Lending shared for quarter think contributed Do XXXX, lending recall way total by far? I've you with the contribute I well, something -- the

Will Horne

to originally. DP public was to doubled primarily XXX,XXX it's our with was warrants -- was facilitating because Lending quarter for the the issued topline really Lending loans the just companies, mind, in financing And preliminary it only historically some loans, and from conjunction that were we Yes, these of went in really or important but with keep because current DPW. DP about company, in

Milton Todd Ault III

loans they quarter. So in the making started external just last

to subsidiary as that the loan but external we the then XX% too; goes $X.X our got things to our gets for million, which when equity we back equity $X.X a $X.X million to out One of equity as only paid XX% loan million, back. goes down and that IM made as and is for their and an us XX% pay at started they

a going that's And we're any to Lending, mind, in that originated is there what wrap with contribute it and part of an was line from are going any line, that to it Digital meaningfully so that and start important loan right, to are questions? out to we other top All there questions? -- so see of bottom we're other Otherwise doing. Ron, Joe, Power up.

Ron Parham

don't others. any see I

Milton Todd Ault III

much you to you who me. so for right, better to next All of a thank you get Bitcoin everybody, how listening. Hopefully, being you hold contact quarter a and we quarter shareholders, We want cryptocurrency. me of have know for appreciate those

our we and to to making grow terms this middle appreciate later with new and look update us Super We so in are early any all progress manufacturing on in of Thank much. continue business you We time. quarter for your where September about you Crypto developments. of