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PI 163.84-3.1%Nov 7 9:30 AM EST
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From: Cooters11/10/2022 2:51:40 PM
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PI @ Baird - 11/10/22

Fireside chat with CFO. Mostly review, lasted 30 minutes.

- Cary gave a much more detailed overview of the European retailer's loss prevention deployment. Key points: The goal of this deployment was to replace the hard tag theft tags with RFID tags. This not only replaces an expensive and labor-intensive system, but it also gives visibility if/when a theft does occur. Instead of realizing something left the store, they know exactly what left and can replace it promptly. The retailer started with a smaller brand, then moved to the current deployment at their flagship brand which is 3X the initial deployment. The remaining opportunity for all remaining brands exceeds the 2 initial brands.

- While discussing the authentication chips/system he highlighted performance apparel and footwear in addition to pharma/medical devices. Earlier he listed some retail customers and included Lululemon and Nike. I would guess they are the early adopters or interested parties.

Cooters
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