Minim, Inc. (NASDAQ:MINM) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET

Company Participants

Graham Chynoweth – Chief Executive Officer

James Carbonara – Hayden, Investor Relations

Nicole Zheng – President and Chief Marketing Officer

Mehul Patel – Chief Financial officer

Conference Call Participants

Operator

Good day and thank you for standing by. Welcome to Minim's Q1, 2022 Earnings Call. At this time, all participants line are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator's instructions]. I'd now like to hand the conference over to your speaker today. Mr. James Carbonara from Hayden IR. Thank you. Please go ahead.

James Carbonara

Once again. Welcome to Minim's Q1 2022 Earnings Call. With me on the call are Gray China Chief Executive Officer, Nicole Zheng, President and Chief Marketing Officer, and Mehul Patel, Chief Financial Officer. As a reminder, all materials for today's live presentation are available on the company's Investor Relations website at ir.minim.com. Before we begin, I want to remind everyone that today's conference call may contain forward-looking statements. Forward-looking statements include statements regarding the future, including expected revenue, operating margins, expenses, and future business outlook. Actual results or trends could materially differ from those contemplated by these forward-looking statements. For a discussion of such risks and uncertainties which could cause actual results to differ from those expressed or implied in the forward-looking statements. Please see Risk Factors detailed in the company's Annual Report on Form 10-K contained in subsequent filed reports on Form 10Q as well as in other reports that the company files from time-to-time with the Securities and Exchange Commission. Please note too, that today's call may include the use of non-GAAP numbers that management utilizes to analyze the company's performance. A reconciliation of such non-GAAP numbers to the most comparable GAAP measures is available in our most recent press release, as well as in our periodic filings with the SEC. Now we'd like to turn the call over to Gray China with CEO of Minim's. Gray, please proceed.

Graham Chynoweth

Thanks, James. Good morning and welcome to Minim's Q1, 2022 conference call. Let's start things off with a look at market dynamics. The world continues to need incredible broadband at home. The experts at ladders say remote work is here to stay, and predictable continue to increase through 2023. SmartHome enlist Parks Associates, just released our estimate for the number of connected devices per use broadband home. In 2021, this number went up by 16 devices, a 23% increase. In its most recent fiscal quarter, Disney added 11.8 million Disney Plus subscribers. And just this Monday, President Biden announced that some 48 million American households will become eligible for $30 monthly 100 megabit plus per second internet plans net. This means our mission to help everyone do more in live better with connectivity has never been more relevant. Amidst this backdrop. We have seen a return to pre -pandemic purchasing levels, and home networking equipment. yes, It appears that there was a rush to upgrade home networks at the height of the pandemic.