“This revised guidance excludes any new major U.S. government awards, and we believe this to be the base case.”

In context

“uivalents and no debt. In July, we expanded our revolving credit facility by adding a $450 million new incremental delayed draw term loan facility, which provides for additional liquidity up to $950 million and remains entirely undrawn. As we highlighted last quarter, our balance sheet leaves us uniquely positioned to take advantage of the opportunities that may arise from the larger macroeconomic environment. Now turning to our outlook, we are presently guiding to the third quarter and full year 2022. For the third quarter, we expect revenue of between $474 million and $475 million and adjusted operating income of $54 million to $55 million. For full year 2022, we now expect revenue of between $1.9 billion and $1.902 billion, and adjusted operating income of $341 million to $343 million. This revised guidance excludes any new major U.S. government awards, and we believe this to be the base case. With that, I'll turn it over to Ana to start the Q&A. A - Unidentified Company Representative: Thanks, Dave. Our first question comes from Martin who asks, when are you expecting to become profitable? Alex Karp: Thank you for your question. Yes, we -- driven by our 5 products and by our ability to control costs mainly because we left Palo Alto, which we left primarily for political reasons, but of course, Palo Alto is somewhat of a inelastic luxury product, meaning you must pay and pay and pay for the comfort of having oddly misaligned with American interest political views and in general, high cost. That combination of radical optionality on expenses and what we perceive to be macro conditions converging with product conditions allow us to kind of see what we think will be a profitable c”