Mike Slowik, CEO, X2F

We've seen a strong business outlook within our customer base and are also winning new accounts. Component availability constraints are finally starting to improve but some key components still have availability issues. Extended production planning with customers is still critical due these continued material constraints.

We are cautiously optimistic for 2023. However, we recognize that some of the improvement in material availability is related to drops in demand, predominately in industry segments we aren't serving. We will be watching these trends carefully in 2023.

Our primary focus in 2023 is going to be working with customers to ensure we are appropriately planning for evolving supply chain dynamics. We are also continuing to invest in digitalization of our factories and systems.

Attracting qualified employees remains challenging. We have major initiatives for recruiting, onboarding and retention as well as work force development and training.

All that said, in many ways we have been moving to a return to normal in 2022. Travel has increased and we expect it to continue to pre-pandemic levels in 2023. There will definitely be challenges ahead in the coming year, but I believe we will finally see a more normal market by the end of the year.