Mitek Bridging

[Kenneth Melniczek]

Mitekis an Italian manufacturer of cutting-edge electric motors. We redefine boating comfort with zero emissions. Experience the power of electric mobility, it is the best thing you can do to your boat.

From the cutting edge of engineering and technology comes revolve, the 100% electric one of a kind sterndrive. The only sterndrive able to rotate on its own axis to switch from ON to OFF mode, making its footprint almost zero. Inspired by a simple intuition, that of bridging the gap between what technology can do and what it should do to simplify and improve life on board.

In addition as optional, each motor can be connected to the Mitek App so you can monitor battery status, speed in knots, RPM, temperature and more from the comfort of your cell phone wherever you are.

Mitek is driven by a mission to advance the field of hybrid and electric drives in Italy and Europe. The impact of the transport sector on energy consumption and environmental protection is enormous. Mitek develops suitable solutions at a good price-performance ratio, so that in the long term all boat owners can rely on renewable energy.

I tried to hire you years ago but couldn't talk you out of the repubilic of VT! Too late to change now: The bottoms are 28ft 2x12's because it's a living space truss. To get R38, I need 11 inchs over the outside wall. Right now its 9 & 5/6". I'll have him build something inbetween the rafters leaving some vent space or change the truss design. Thoughts?

Stephen, ask the supplier. They will know what you want. I would go there with your builder if it is close by and work out the amount of lift you desire. 12" bottom chords are used for "room in the attic" style trusses. I like them and have used them when provided to me by Lincoln Logs Ltd. a kit home company.

Robert Riversong prefers what he calls natural building. If you want to do any of that, like cellulose or straw bale, he is very knowledgeable. You may also get a lesson on what he thinks sustainable means. We all can learn about things we don't know if you can get through all that he posts on the subject.

Stephen, you need to block off the area that you are trying to gain greater depth to hold back the cellulose right? Block with foam sheeting cut to fit and installed as you roll up your trusses. Foam them in place and done. You kill two birds with one stone and and have a tasty pigeon meal to boot.

Talked to the builder. He thinks that by upping the bottom chord to a 2 x 12, having the 2x8 rafter end at the top of the 2 x 12, buiding tails rather than having the 2x8 rafters cut through the 2 x 12, and extending out two feet as previously discussed, that it would buy me the 11 inches of desired insulation depth at the outside wall with enough room for a vent.. I sketched it out and I just don't see it. By the way, it's a 9/12 pitch, not a 10/12.

Don't talk to the builder, since he doesn't have a clue about energy trusses. Either go yourself or take the builder with you to the truss supplier and have them reconfigure the trusses to your satisfaction.

Robert, where did you get that pic? It's too small for me to see the details but it's what I'm looking for.. New Hampshire came out with a residentail energy code application(EC-1 Form) that I had to sign when getting the building permit. In it shows that in zone 6, they only require R38 if you maintain R38 over the outside plates. I will still go for R49 > R60 as funds come in.

I too am building an attic truss and am trying -in vain- to have my builder install raised heel trusses. How do I get him to understand? So frustrated. 12' bottom chord because it's living space, 8/12 pitch and I need more center height to add additional 7' doors.

Please help.

Trusses are rarely site-built these days; they come from a truss manufacturer. The truss manufacturer can build the truss any way you want, but the truss manufacturer needs plans and specifications to proceed.

There is an architect and plans. Currently the plans do not call for raised heel trusses. They are preliminary plans and this is the one item keeping her from creating the blueprints so we can break ground. Both the architect and the builder are basing their figures on the truss company standard. Do I just go straight to the truss manufacturer and ask for the specifications I want or do I need the plans for the garage for them to work off of?

Rebecca,

If I understand you correctly, you are the boss. You're the one who hired the architect, right? You need to direct your architect to specify raised-heel trusses -- and if you know the type of insulation you want on the attic floor, and you know your target R-value, you can specify the number of clear vertical inches between the top plate of your exterior wall and the underside of the roof sheathing. (Don't forget to add about 2.5 inches for the ventilation gap and the baffle.)

If you feel that you need to educate your architect, you can contact a few truss manufacturers if you want, and ask their technical help people to provide you an example of what a raised-heel truss looks like. (Or you can just use Google Images to find lots of examples.)

Just for my own knowledge, is the depth of an energy heel measured from the outside top edge of your stud wall top plate to the baffle or the inside edge to the baffle? I would assume it's the smaller of the two measurements? Is there a dramatic energy penalty from thermal bridging if the two measurements are substantially different? I think double stud wall and a high pitched roof might lead to substantially different measurements.

To me, the important measurement is the vertical measurement from the top plate (measured at the exterior plane of the most exterior stud) to the underside of the roof sheathing. I suggested that this measurement should be depth of insulation + 2.5 inches.

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Good day, and welcome to Mitek's third quarter 2022 earnings Conference call. All participants will be in a listen-only mode. [Operator instructions] Please note that this event is being recorded. I would now like to turn the conference over to Todd Kehrli of MKR Investor Relations.

Thank you, operator. Good afternoon, and welcome to Mitek's third quarter fiscal 2022 earnings conference call. With me on today's call are Mitek CEO Max Carnecchia and CFO Frank Teruel. Before I turn the call over to Max and Frank, I would like to cover a few quick items.

This afternoon, Mitek issued a press release announcing its third quarter fiscal 2022 financial results. That release is available on the company's website at miteksystems.com. This call is being broadcast live over the Internet for all interested parties, and the webcast will be archived on the Investor Relations page of the company's website. I want to remind everyone that on today's call, management will discuss certain factors that are likely to influence the business going forward.

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Any factors discussed today that are not historical facts, particularly comments regarding our long-term prospects and market opportunities should be considered forward-looking statements. These forward-looking statements may include comments about the company's plans and expectations of future performance. Forward-looking statements are subject to a number of risks and uncertainties, which could cause actual results to differ materially. We encourage all of our listeners to review our SEC filings, including our most recent 10-K and 10-Q, for a complete description of these risks.

Our statements on this call are made as of today, July 28, 2022, and the company undertakes no obligation to revise or update publicly any of the forward-looking statements contained herein whether as a result of new information, future events, changes in expectations or otherwise. Additionally, throughout this call, we will be discussing certain non-GAAP financial measures. Today's earnings release and the related current report on Form 8-K describe the differences between our non-GAAP and GAAP reporting and present the reconciliation between the two for the periods reported in the release. With that said, I will now turn the call over to Mitek's CEO, Max.

Thanks, Todd. Good afternoon, everyone, and thanks for joining us today. Once again, I'm happy to report that we delivered record revenue for the quarter with revenue growth of 24% year over year. Congratulations to all Mitek teams for their standout work and thank you for your ongoing commitment to this important mission and our customers all over the world.

Before Frank reviews the financials in more detail, I want to focus on our significant market opportunity we are addressing. As consumers transact more business online than ever, identity verification has become essential to safe digital access. In 2021, traditional identity fraud and identity fraud scams affected 42 million consumers and cost companies a staggering $52 billion. While this is a very large number, the number of people online today is growing rapidly and is in the billions.

And identity fraud and the cost of this fraud is only going to get bigger. Mitek's identity solutions have been developed to address these growing challenges by providing organizations with the insights, technology and solutions needed to determine if the individual accessing their digital account is verified, authenticated or in fact real. With growing digital usage, verifying the identity of consumers before they can make a transaction or access to service enables organizations to prevent identity fraud keep their consumer information safe and meet the rising pressure of global regulation. Two notable use cases, driven by increased regulation are right-to-work and right-to-rent laws in the U.K.

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