TOYO Co., Ltd. (TOYO) Earnings Call Transcript & Summary

I think people are kind of thinking about the overhanging cloud of policy uncertainty in the 232 case and not realizing kind of the way we have structured the company specifically by being nonpeak. And I live in Washington, D.C., we have a very close relationship with the leadership in this administration, and we've been working with them very closely on specifically the 232 case to ensure they understand who TOYO is both as a company, the fact that we're onshoring significant manufacturing here to the United States and that our facility in Ethiopia is completely PIC-compliant. And so I think a lot of people think about it. It's a foreign company, the manufacturer in Ethiopia. This 232 cloud is hanging out there without really looking under the hood to realize how sophisticated we are from a policy perspective and how that really drives markets in the United States.

Another one here. I work upstream in polysilicon manufacturing. Looking 5 to 10 years ahead, where do you expect the greatest gains in solar performance to come from improvements in polysilicon quality, wafer technology cell architecture or manufacturing processes. Also, as your manufacturing scales, what becomes more difficult, maintaining product quality, reducing cost or increasing throughput and how do you balance those trade-offs.

Great question. I mean, it's a little bit of everything, right? Polysilicon quality, cell design, certainly wafer quality. Right now, the wafer is pretty good, but they're all imported. There's no manufacturing of wafers here in the United States. And I think you're going to see that change in the next couple of years. But I think the biggest change is going to be just in the cell type. We're moving to HJT specifically because it's higher efficiency today and all of those other improvements in polysilicon or in wafer design, we will be able to employ but we're also able to add parasites to HJT and maximize the efficiency. So if our cells are 25% efficient today, with HJT. When you add Perovskites and you put them into a solar panel, now you're talking 30% to 32% efficient. So that's really a step gain in the long run. So from our perspective, the biggest gain is going to be in that cell technology, but certainly continuing to improve those other subcomponents.

Great. And we have time for one more. So NMG asked, new to the story, who is your main competitor now and what is the key differential between Tio and them?

Yes. So our main -- it's kind of interesting. We're a little bit different than most of the other companies out there. So I'd say our main competitor, for example, is a T1 in the sense of a new [ niche ] company manufacturing in the United States, but we're already manufacturing our own cells, and they're starting to ramp their own cell facility here in the United States or at least build it. Other competitors that we have directly or other domestic manufacturers of solar panels using either domestic cells or foreign cells. So it would be Q cells cells is a Korean company. They manufacture in Georgia. They're good, but their cell technology is not nearly as efficient as ours. They tend to do mono-PERC. We're doing Topcon today, and we're doing HJT in the future. And so -- and then another company that you probably have heard about is Suniva. Suniva is really doing previous technology. It's called [indiscernible] Perk. They bought a facility from China had brought it over to the United States, and they're making mono-PERC, which is even lower efficiency, but the demand is so high right now in the United States for domestic modules that everybody is doing okay. The truth of the matter is you want to be the highest efficiency cells, so you can get the best price and have the greatest efficiency with respect to manufacturing, and that's something that we've been able to execute on time and time again.

Great. That wraps up for Q&A. Ron, thank you again for your time and presentation. Thank you for having me. For more information on TCT, please visit their Corporate Connect page on the app. Lastly, we will hear from Innovative Eyewear, ticker, LUCY, a developer and manufacturer of cutting-edge ChatGPT enabled smart eyewear under the Lucyd, Lucyd Armor, Reebok, Nautica and Eddie Bauer brands. Now I'd like to introduce President and CEO, Harrison Gross.

Folks. Thanks, everyone, for coming to my presentation today. Looking forward to giving you all the latest information on our company. Our mission is to upgrade the world's eyewear adding useful technology features to comfortable prescription ready glasses and we really see Smart Eyewear as a gateway into the coming AI revolution. Let me get my presentation up, and we'll get started. All right. So a little bit of background on our company. We produce more styles to smart eyewear than any other U.S. company. This is necessary to address the very different needs of different segments of the eyewear market. The overall U.S. market is much bigger than you think. It's a $7 billion market -- a $70 billion market covering eyeglasses, sunglasses and eye care. And we are bringing in its first serious digital transformation of the 21st century by introducing smart glasses that look and feel like normal eyewear but allow you to stay connected to your digital life seamlessly and safely and now also access the world's most powerful LLMs through your glasses to literally make you smarter with your eyewear. A little bit of background. We actually started the company with crowd funding back in 2017, a little bit before the current entity started. We have about 9 years of experience in smart eyewear. Overall, collectively, our team has over 100 years of optical industry experience and 100 years of audio and engineering experience. So we have a lot of different types of design shops that come together to make market-leading smart glasses. It's a very high barrier of entry to the smart glass market. Not only do you need a ton of IP. We have access to a lot of the critical patents necessary to sell Smart Eyewear in the United States. You also do need a very varied and capable team that has a lot of different backgrounds in AI, optics, traditional engineering, audio engineering to come together to make a great pair of smart glasses. And that's a team that we have assembled in Miami, Florida, and we're fully devoted to making the best possible smart eyewear. Just a quick look at the product advantages of our smart eyewear over traditional glasses. Not only do we have the vision correction and protection of traditional eyewear, but we also have access to AI. We have access to music, high-quality speakers. You can take your phone calls, hands free from the glasses. And we also have translation and wake features through the Lucyd app. So really, the glasses are doing a whole lot more from you in the same package as traditional eyewear. And what really makes it disruptive is we're doing it all at the same price as regular eyewear. All of our frames costs between $150 and $250. So we're really price matching the traditional eyewear industry and offering so much more value to the consumer. Imagine you got to get your next pair of glasses and you get a free pair of airpods with it and free access to ChatGPT, Gemini and to Chad GPT, Gemini and Claude, all through your eyewear at the same cost as any regular frame. So we've eliminated essentially all of the cost of switching from traditional eyeweare to smart eyewear. A couple of key features. We introduced the first voice interface with ChatGPT ever. back in 2023, 6 months after GPT came out, we made it voice accessible through not only our glasses, but through all wearables through our customer Serie integration. We also have just recently launched our cloud integration as well. So we're the first multi-AI glasses that really like to tap into the biggest LOMs. This is done through Siri or Google Voice, which we have live for GPT and Cloud and Gemini are through our app, but we're also launching Siri integrations for those in the next few weeks. So really, this is all heading towards what we envision the future of our company, which is offering multi AI glasses, glasses to connect to whatever AI systems you need, quickly, swiftly with the simple voice command. And that's really where we see the smart eyewear market heading. Glasses is a centerpiece of the Internet of Things as an on-ramp into all the systems that you use. And that really describes also how our approach is different from the other company. producing smart glasses. We're not trying to sort of inculcate the user into a walled garden or a specific AI system. We're actually -- we want the user to be able to use our glasses to make it easier to access whatever systems, whatever platforms they're already using. So that sort of ubiquity of our product really does set it apart from other types of smart eyewear that want you kind of in a specific ecosystem. We want to be a Swiss Army knife that really helps the user do whatever they need to do and access whatever system they want to with their voice, hands-free heads up. So that's really what we're doing. It's a little bit different. We're really user-centric and really focused on allowing users to access whatever platform they want more easily. So in a way, I see our glasses is kind of an audio interface layer that sits on top of whatever other systems you like to use, iOS, Android, GPT, we make it all more voice accessible and more mobile-friendly. Another thing that's kind of different about us, we're the first smart eyewear house of brands. We recognize that not everyone wants to wear a tech brand. That's why the Amazon glasses didn't work out. People don't want to wear Microsoft. It's not attractive as an apparel brand. So 1 thing we do is we have these partnerships with authentic brands, and we produced Smart Eyewear under all 5 of these brands to address completely different market segments. Of that USD 70 billion were market is really broken into 4 major categories. Prescription eyeglasses, ready-to-wear sunglasses, safety glasses and sport glasses. We're the only company producing smart glasses in all 4 of those categories and marketing them to the specific user profiles that can really benefit from them. This is our breakout product, Lucyd Armor. It's our most popular product by far right now. It's about 2/3 of the company's revenue. It's the only OSHA compliance Smart safety glass on the market right now. It's really unique and is delivering a huge amount of value to all these industrial workplaces, logistics, warehousing, all these different industries that use safety glasses. This product is really bringing safety eyewear into the 21st century. It's $149 and it's a major tech upgrade for workforces around the world. We're already shipping out thousands of these a month. And it's just a major tech upgrade for anybody that wears safety glasses because now you have translation features, you have AI features, you have hands-free calls in your safety eyewear. And in these safety environments, these ocean environments, looking at the phone can be deadly. Having earbuds then can be deadly because you don't hear something, forklift coming up behind you, right? So you need open year audio you need awareness and unique communication needs to be free flowing, easy to access and ergonomic. And that's what this product is delivering. And that's why we believe it's so successful right now because it's really offering a unique solution for these heavy industries that need power tools to get through their day. And that's really what I compare this to is like going from a screwdriver to a power drill, going from a 3M safety glass that costs $8, does nothing, and it just gets left on your desk, to a major workforce upgrade here, still very affordable, still in line with the pricing of regular eyewear, but allowing you to be more connected with your team and with more connected with intelligence. So this is really our breakout product. and we're expanding it into an entire enterprise platform. So another really interesting thing about this product is it really addresses a couple of distinct markets at once. So we have sort of DIY dads that are at home doing tech projects in their garage. They love it. And then you have these industrial workforces, like where -- DHL is testing it. We've got a major oil and gas company testing out on oil rigs, those kinds of workforce. And then you also have the hardware retail channel like Home Depot and Lowe's that we're working on getting the product into -- so there's a lot of different angles of attack with this product. And we're developing mentioned into this complete platform. We're going to have a camera version and non-camera version. Actually, non-camera is better for a lot of workplaces because of compliance issues. They don't want a lot of cameras around or there's a lot of sensitive information or proprietary information in those environments, you don't want a lot of cameras. And then also the AR glasses can be an issue due to distraction, safety, a lot of other issues with that. So in a way, the audio glasses are actually really the perfect platform for most of these industrial environments. But we do want to introduce a camera version for training purposes and for other environments that can really take advantage of that camera. And then we're going to back up these 2 versions of the safety glass with complete enterprise software platform. Let's the IT managers at the companies they've taken on control exactly what the glasses can do and get a total feed of every photo that's taken on the glasses and really have that fine level of IT control to really deploy it as needed into these different workforces. So we have a lot of potential with this product category. I'm going to move on and almost spend too much time on it. Lucyd Light is our classic flagship Smart Optical Smart eyewear. Great for prescription wear, been the consistent sell-out product since we introduced it in 2021. This is our first collection with Reebok. These are very sporty frames. These are developed with some former Bows engineers. So we have a really strong audio in these frames. They sound better than AirPods because we have a little bit of a thicker temple here, so we're able to put in a much larger driver. So these are really our product for the runners, the cyclers, the pickleball people that want to go out and have fun, be active with Smart Eyewear and even in those scenarios, there's a lot of benefits to the open year audio over your buds. It's safer for your hearing. You have more awareness. So if you're running on the side of the road, you can better hear the traffic around you. And then the fact that you had the vision correction and protection as well, all in 1 device. So it's really convenient and great for sport as well. And we have a completely different type of marketing that we do to the sport consumer. And then here's our new Reebok opticals and wearing one of these now. It's a really cool frame. It has -- it's our first with auto on temples, which is great for accessibility for older users that are have a little bit of a hard time with some of the smaller controls on smart eyewear. So having the auto-on feature just been a major economic upgrade. And then -- what I'm really excited about is coming out in October, which we just unveiled in 1 of our last press releases is Lucyd [indiscernible]. This is a really, really impressive collection. These frames are going to cost $149 the same price, the vast majority of traditional eyewear but they look exactly like normal glasses. They feel exactly like normal glasses. They cost the same as normal glasses, but they give you access to AI. They give you your music, your phone calls, all these additional features at no extra cost. And this is really the inflection point where we see the form factor of smart eyewear can really be exactly like a normal pair of glasses. So we see this frame as highly disruptive. Here's the women's style here and can really be transformative for the optical industry in terms of them bringing on a lot more sport are, specifically our smart eyewear because we're really matching all of the user needs and expectations on glasses form factor here, but it's smart. So this is really the first product of its kind of a smart eyewear product that truly looks like normal eyewear. No one has really done this yet. We're very excited about this product. It weighs 24 grams, which is about the same or less than most regular glasses. And it costs the same as regular glasses. So we really see it as having a lot of disruption potential in optical as well as on the direct-to-consumer side having a lot of potential, too. So really excited about this collection. We're planning on expanding it. This is going to be our new optical flagship. And I really think that this has a lot of potential to bring Lucyd eyewear into a lot more retail doors in the optical side of things. So very excited for this collection. And I really -- there's no telling what it could do. I mean it's just the way that -- it really, really mimics the look and feel of traditional eyewear in a way that no other smart eyewear has ever done. And you can even see the product evolution here just from the Reebok opticals to the arrow. I'm just holding them side by side, hopefully, is visible. You can see how much thinner and lighter the arrow is. And that does come with a trade-off. The audio quality is not as good. But for voice and for AI use, it's fine. And it's really -- and when it comes to the comfort, the ergonomics of smart eyewear, it's our best brand yet. So we're really excited to see what this does in the market. The Lucyd app, we offer for iOS and Android. This is where most of our smart features live. And we also use the Lucyd app to provide upgrades to our glasses without requiring cumbersome firmware updates, we just push new features through the app and all of our users get it immediately. The app is free, and it's also a gateway to non-Lucyd wearers to learn about us and use our products because we have a lot of really useful utilities in the app for every hearable device. It's agnostic. It works with AirPods. It works with any headphones and that allows us to get new software subscribers, even among people that don't wear glasses. So it's really a great entry point to learn about the company and see what features that we provide through the eyewear. And even all of you on the call today can go download it and start using our translate feature on your next trip. Our translation features are amazing. We have some of the best in the game right now. We have 2 major modes of translation. One is hot seat, where you're in the room with the other person, and then we have over-the-air translation through Walki, where the AI actually dubs your voice over into the other person's language automatically and instantly on a phone call. So really cool stuff. And with the hot seat translation, what really makes a killer is it works with no Internet. So I was in China a couple of weeks ago, Internet was super spotty. And I was still translating Mandarin and no problem and navigating -- using our own software. So really cool stuff, and it's totally free as well. We do charge a subscription for the stronger users that are on it all day. But for most users, it's free and offers a ton of value, walkie translate and now multi-AI access, which we actually have a pending patent on multi AI glasses, hopefully will get approved. But we really envision that that's where this is heading. Is your glasses are going to connect you to all of your agents, all of your systems just through simple voice commands. So in a way, it's ironic because -- all the other companies in the Smart Eye are pushing towards augmented reality as quickly as possible. But the need for displays is actually only going to diminish over time as voice agents become more powerful as we can do more through audio interfaces, the need for screen time is only going to go down. That's not to say that AR doesn't have its uses. I actually think AR ultimately would be more ergonomic than the displays of today because it tracks to your natural head and neck position. But for now, for the practical user, for the mass market, it's all about the audio eyewear. And even on the safety glass, for example, like again, there's just a lot of issues with the camera, consumer privacy concerns, industrial privacy concerns, SBS concerns. So when it comes to compliance and all that on the safety glasses, the audio glasses are the ticket. A couple of other things. These are some of the innovations we brought to the smartwear space over the years. When we started, it was just us in Google Glass, and then Meta came in, [indiscernible] came in, everyone else kind of showed up to the party after we did. But along the way, we managed to launch a lot of industry first in smart eyewear, including the first ever prescription smart glass ship direct to a consumer back in 2018, first Marklas collection and [indiscernible] styles, first Spark [indiscernible] style for man in youth. List goes on and on. We've just done a lot to really which is the goal of making smart eyewear more user-friendly for the average consumer. That's really been the motivating factor behind a lot of these innovations. When we started, the products were clunky, you couldn't wear them all day as your main eyeglasses. And we really set out to eliminate all the hurdles to that. And we did so, I believe, successfully. A couple of just quick words on our community initiatives. So we have an 18% discount for students, military and health care workers. It's much beloved discount by those groups. We do need a couple of thousand frames a year of traditional eyewear to local charities in South Florida where we're based and to National Vision charities as well. All of our e-commerce shipments are carbon neutral. It's actually very affordable to do that nowadays, it only cost us around $0.50 per shipment. And then we also use 99% post-consumer recycled packaging, and we're leading the way in trying to introduce bio resins into smart eyewear. Ultimately, we want all of our products to be fully sustainable. It's not something that everyone cares about, but there is a large group of consumers that do care about this. And also, we believe in being stewards of our local environment, especially in South Florida, where the ecological situation is very delicate. So we really believe in ultimately making our glasses fully out of recycled materials. A couple of key awards. We actually just got a Red Dot Award, really proud of my team for bringing that in. on the Smart Safety glass. We also got 2 other awards from the hardware channel on the safety glasses recently also were featured on the Today's Show. I've got a couple of recent buy lines an entrepreneur. We get a lot of coverage because we're really making smart eyewear more accessible for the average consumer than the big tech guys are. And so that gets picked up in the news a lot, and I've been featured in Bloomberg and and a number of other outlets in the last year, just covering the interesting things that we're doing in Smart Eyewear. And a lot of that, I think, really traces back to our origins as a crowd-funded company. We started with 6,000 retail investors coming in and funding that first pair of glasses because they believed in the vision that I had for the future of this category. And that through line has kind of continued today. We're -- today, I really -- me and my company are really thought leaders in the smart eyewear space at Vision Expo, which is the major eyewear industry event in the U.S. I was leading the panel in Smart Eyewear this year. So we're starting to really get the recognition, not just by the media, but by the industry players that want to play in this category. They see the hard work that we've done and normalizing Smart Eyewear making it more accessible and enjoyable and they want to work with us. And that's why A lot of the bigger eyewear companies that were on the radar now. A lot of the bigger retail companies as well and we've got some really exciting things going that we just announced, like FYI doctors, which is the biggest chain of eyewear stores in Canada, it's putting us in 375 doors for holiday this year. And we're also starting a big box store test, which has just been expanded. It's going to be a bit more than 50 stores with 1 of the major big 3 big box stores here in the U.S. can't announce that yet, but who that is yet, but that's coming also for October of this year. So we've got about 550 new retail doors opening just with those 2 partners in the next few months. It will be about 1,000 doors by the end of the year. And all that is pure upside to our current financials, which are all based on the e-commerce revenues of the business. So everything brick-and-mortar, everything enterprise around the safety glass, all of that is pure growth over where we are now, which has been built just completely on the e-commerce funnel. And I think that's going to really strengthen the business and diversify our channel mix and give us more longevity. We don't want to be too centralized on any 1 channel. We think it's the right thing to be balanced. So that's our goal. A couple of key financial highlights, 12 consecutive quarters of growth. We're growing about double year. We're doubling, give or take, every year. We did about $3 million sales last year. We're targeting $6 million this year. And we're expecting that rate of growth to continue and possibly increase as smart eyewear becomes more known. Interesting factoid, only about 17% of U.S. adults have every even tried a smart glass, let alone bought a known one. So we're still in the very early days of this category. Think about it like the iPod 1 just came out and the iPod revolution is around the corner. And what I always bring it back to is the smartwatch revolution, which is the closest analogy for what we're doing. Apple introduced Apple Watch in 2015. 5 years later, the entire watch market worldwide flipped. And as of 2020, more smartwatches are sold worldwide than traditional watches because they offer more functionality in the same form factor. And that same market flip is coming, that same digital transformation is coming for the eyewear industry, the $70 billion a year Goliath industry is going to transform into the smart eyewear industry. And hopefully, we will be leading that charge -- thank you so much for listening to the presentation and glad to take any questions we have.

Yes. Thanks, Edison, very exciting times. I see many questions came in during a presentation that you can answer. You can find out at the bonder screen, the Q&A please read the question allowed before answering.

Yes, sure. Okay. So first question is what customer feedback has surprised you most over the last year? This is really insane because we had no idea this was going to happen. But we did a big marketing campaign on the Reebok opticals around no cameras go anywhere. That was kind of the line. and consumers immediately drew the connection to the Meta glasses and went for it, and they totally loved it. And that campaign was extremely successful. We didn't realize that actually advertising, no cameras by design, which is something you wouldn't really think of, ended up being our most successful marketing campaign of the year. So that was really interesting that consumers do not necessarily want cameras in their glasses. And so we're addressing that market, and there is a huge response to that. And like I said, in Industrial, we're hearing that even more, where they really don't want excess cameras in the workplace. So that was really unexpected and pleasingly here. Next, from Phoebe, as large tech companies have entered smartphone glasses -- I guess, smartglass is what you mean. How has that changed your strategy? And where do you believe innovative iWork can realistically win? Well, I think we've already built a really strong beachhead in the smart safety glasses. We really have the only compliant product right now in the market. So it's very high barrier of entry into that product. Because not only do you need like all the engineering and design that goes into a great smart safety glass, which took us about 2 years. You need many levels of compliance. There's a lot of liability involved. There's a lot of IP involved. There's a lot of software design involved. So it's just a very high barrier of entry. And this is why we've seen -- we haven't seen a lot of the traditional eyewear companies, which many of them are very well healed, very successful, a strong distribution. They're very afraid to get into smart eyewear, a lot of them because they just don't have the engineering chops. They don't have the marketing chops. But it's funny because when I break it down for them, for the optical industry professionals. They're already used to selling lens technologies and lens upsells are a big part of their business. So we really just have to convince them to see it as sort of a frame technology upsell. And when you frame it that way, unattended, they're able to really understand the value of Smart Eyewear and kind of position it within the practice. So yes, I don't see that eyewear is very specific. You've got these 4 major categories within these industries. I don't expect this to win on all 4 long term. I think we're going to have -- we're going to win 1 or 2 of those lanes, and that will be enough to build a huge business because of the size of the market. So just in the same way that the traditional eyewear market today is broken up over many companies. We believe the smart eyewear market will be the same in the future, but we aim to really offer a competitive, open source and flexible solution that we think can potentially lead the pack. So that's our goal is we're not threatened by the major companies. What we care about is offering as much value and utility as possible to our consumers because we know that you can build a great business doing that brick by brick, consumer by consumer. So that's kind of what we're doing now. And there were many times like throw up our hands and say, "Oh, Bose is getting into the space. Oh, google is making another product. Let's give up." That was never the right approach. It was always about just focusing on the user and really delivering the experiences and the tools that they wanted, not what the big tech companies think they want, but actually talking to the 6,000 crowd funders, actually talking to our customers that have ordered 6, 7, 8 pairs and really understanding what they need out of the category. Next, what does product adoption look like after the initial purchase, customers using basis daily, weekly or only occasionally. This is highly variable depending on the user. Many of our users will wear our glasses all day every day as their main glasses. I'd say it's probably about 1/3. The other 2/3s -- maybe 1/3 is using them in the workplace and then taking them off. And then 1/3 is using them as sort of their sunglass. So it's in their car or when they go for a run, so that's sort of just -- we're seeing a lot of variety in terms of how users adopt the glasses. What we need to work more on is getting our users to universally download the app after they get the glasses because that's where really you unlock all these additional features. And even now, many of our customers are not using our app yet, and that's where we see additional opportunities for recurring revenue opportunities to deliver content, entertainment through the glasses and just a lot of different expansions on the basic platform that can be done through the app. Next, what future capability has driven the highest customer engagement? I think it's kind of ironically, it's your standard Bluetooth audio features, your music in your calls, and that's always historically how we marketed the glasses until the AI revolution came and started a couple of years ago. And now we see probably about 1/4 to 1/3 of buying for AI features and then the other -- the remainder are buying for hand-free Bluetooth features. Five years now -- from now, what does success look like for innovative? Is the goal to be a leading consumer brand, a tech platform or something else entirely? Well, I think what we're doing is we're really trying to hedge our bets and play in these different markets. So we've got the direct-to-consumer channel that's been consistently growing. Our customer acquisition cost is half what it was a year ago because of improved awareness of Smart Eyewear. So we're going to keep attacking the direct-to-consumer channel. We're also starting to work with more traditional optical retailers and then the third real angle is the enterprise platform around the safety glasses where we're not only selling a safety glasses on mass to large companies, but also selling a per-seat software platform as well that goes with it, which has a monthly recurring cost. And that's where we see a lot of potential right now is developing this enterprise platform. We're launching our first product with Qualcomm. Lucyd Arrow is going to be our first fully voice accessible frame where you'd have to touch the frame to interact with the AI. And we're going to try to deepen that relationship with Qualcomm expanded and really build out that full enterprise platform and push it out to companies around the world. So the lenses adapt to your vision or do you need a prescription. There's a false claim with a brand like [indiscernible] is another one that the lens is adapt to near-far vision seamlessly, but I try that doesn't work, how do they interact with vision. So all of our glasses come with ready-to-wear lenses, either Blue light transitional or sunglass lenses, depending on the frame and the intended use. That said, we have -- we pioneered custom lenses in smart ir. That's kind of our whole thing. Going back to 2018, we've been shipping custom lenses and smart classes. So the user can get whatever lens they want. You want to progressive you can get aggressive. We also have this new technology called chemistry clips, where you can add a lens month clip to any type of lens and give it -- making a multifunctional frame. So that's something else that's really cool that we're offering. It's a really strong upsell. What you're talking about is basically a plano-progressive lens that was marketed as as adaptive to your vision. It's really just essentially an online by Focal. It's a little bit of a -- it's a marketing trick I've seen around. But yes, there's nothing really special about that. It's just online by Focal. We don't -- next question is, do your translations offer [indiscernible]? We don't. We currently -- in the hot seat translation, we support 17 languages right now. We do have Arabic, Chinese, French, German, Hindi, Italian. But we're going to look to add more sort of like less popular languages like Taglog, Hebrew and [indiscernible], those would be good to add in a future update. So we are planning to continuously add more languages. Right now, we're focused on adding languages to the over-the-air translations because right now we just have English, Spanish, French and Portuguese. So we're looking to add more to those -- like those translated phone calls right now because we're missing a couple of key languages there. Next question, battery life seems to be a bottleneck. What supplier are you using at this time for next-generation battery life? So this is really interesting. So basically, there's a direct correlation between the size of a smart glass temple and battery life usually. So Lucid aero being our latest in thinnest is also going to have the shortest battery life, as you imagine. So this has like a a battery, the size of maybe 2 packs here in the temple. So a very small battery. This is going to give you 6 hours of music or talk time and about 100 hours of standby Bluetooth notifications. Our longest battery life right now is Reebok opticals because we have these distinct battery tips here. So we have much larger batteries about the size of a AAA, a little bit slimmer. But this is going to give you 12 hours of music and talk time per charge and about 150 to 200 hours of standby Bluetooth, meaning you only need to charge the glasses once a week, maybe twice a week at most if you're listening to audio all day. So that's kind of where we are. And we offer these different platforms for different user needs. The safety glass is designed for a work shift, so it has 8 hours of music and talk time really designed and optimized for that 8-hour work shift. So it all kind of depends on the user, and we want to really be very clear in our marketing about what you get with our different frame platforms. And if you prioritize music quality, you should go for the Reebok wraps because they have our best our best music quality. And if you prioritize lightness and thinness and aesthetics then Lucyd Arrow's going to be the ideal frame for you because it looks like normal glass is super discrete. So it all kind of depends on the user and really determining what feature set that that they want to focus on. Is the -- next question is the enterprise platform, the same company? Yes, it's essentially just the software back end for Lucyd Armor that we're developing. Yes.

Okay. That wraps up for Q&A. Harrison, thank you again for your time and presentation.

Yes, this is great. I always love presenting to Webull. I really strongly encourage everyone to to follow the stock, maybe jump in. If you want to connect with me directly, my e-mails's hgross@lucyd.co. I do one-on-one presentations as well. Glad to follow up with any additional questions you have. Thank you so much. I highly encourage you to try the product. You'll see what it's all about in just a couple of minutes. It's very easy to use. All right. Take care.

Great. For more information on ticker LUCY, please visit the corporate Connect page on the app. And that concludes the technology webinar. Please stay tuned for more upcoming corporate Connect service investment webinars featuring a variety of sectors at www.webull.com/ebinar or in the Learn section of the Webull app. Thank you for joining us, and have a great rest of your day.