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I noticed that some people use the following sentence as a closing statement.

Thank you all for joining us. Until the next time.

What does "until the next time" mean? To me it seems like an incomplete sentence.

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It is a closing expression, used with or instead of "goodbye" or "see you later". It's not a complete sentence.

Many parting expressions hope that the other person will be well. We say "farewell" (literally travel well) or "goodbye" (literally God be with ye). So saying "until next time" means "fare well until next time we meet".

But of course, nobody thinks of what the literal meaning is. It's just a friendly way to part from someone. It's particularly common in situations like broadcasts, in which the listener is not expected to respond.

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