Nuburu, Inc.

Good afternoon. Thank you for attending Nibiru Inc's second quarter 2023 financial results call. All lines will be muted during the presentation portion of the call with an opportunity for question and answers at the end. I would now like to turn the conference over to your host, Ralph Esper, External Director of Investor Relations at Gateway Group. Thank you. You may proceed, Mr. Esper.

Thank you, operator, and thanks to everyone for joining us on NBUR's second quarter 2023 earnings conference call. Joining the call today are Mark Zetiker, NBUR's chief executive officer and co-founder, and Brian Canale, chief financial officer, to discuss our second quarter results. During this call, certain statements we make will be forward-looking. These statements are subject to risk and uncertainty. including those set forth in our Safe Harbor provision for forward-looking statements that can be found at the end of our earnings press release and also in our Form 10-Q that will be filed today and provide further detail about the risks related to our business. Additionally, except as required by law, we undertake no obligation to update any forward-looking statements. We will also provide non-GAAP information regarding certain of our historical and targeted results to supplement the results provided in accordance with GAAP. This information should not be considered superior to or as a substitute for the comparable GAAP measures. A reconciliation of historical non-GAAP measures can be found in our second quarter earnings release published this afternoon and posted on the investor relations section of our website at ir.nuburu.net. I will now turn the call over to Mark.

Mark? Thank you, Ralph, and thanks to everyone for joining us today for our second quarter 2023 earnings call. As some of you might be new to our story, I'd like to kick off today's discussion with a brief introduction to Newbrew, highlighting our core technologies and the comprehensive range of solutions we offer to our customers across various industries, Thereafter, I will proceed with the review of our financial performance during the second quarter and elaborate on significant corporate milestones before I provide a financial outlook for our third quarter and full year 2023 results. At Newbrew, we pioneer the ever-evolving landscape of manufacturing solutions and have positioned ourselves to meet the surging market demand for sustainable and energy-efficient, cutting-edge production processes. Our transformational core technology, the blue laser, embodies the principles of performance and efficiency. Through our groundbreaking blue laser technology, which is protected with a plethora of patents, we've paved the way for transformative shift, displacing conventional laser metal machining and additive manufacturing methods by delivering unprecedented advancements in speed and quality. Our products address various market challenges as we leverage the capabilities of the blue laser for welding, 3D printing, and a growing list of further applications. At its core, our blue laser technology remains one of the best solutions to generate cost and performance benefits in manufacturing across multiple large high growth markets with several serviceable addressable markets growing to a total of approximately $33 billion in the next 10 years. And on top of that, we enable countless new applications that previously were thought of as impossible. More on that in a bit. Our systems give manufacturers the flexibility and performance necessary to produce more sustainable and durable end products. With our current BL250 that is in production, we continue to target customers using the outgoing AO systems while also targeting new applications that demand even higher brightness and performance. The AO production line phase out is the planned evolution of NUBRU's blue laser technology to increase power and performance. But our innovation doesn't stop here. As announced in June, we introduced our latest next generation BL one kilowatt system, enabling even higher speed deep penetration, spatter-free, and repeatable high-quality welds, all of which are critical attributes for the needs of large commercial applications, including EV battery welding and 3D printing. The BL1000F's ability to harness the higher absorption of metals to blue light, combined with its compatibility with a scanner, provides crucial benefits that improve the overall manufacturing capabilities for our customers. We look forward to further developing our product portfolio, including the new brew single mode laser, which we are aiming to deploy commercially by 2025. Market opportunities for this technology are countless due to its unmatched product characteristics. Transitioning now to our recent highlights. A little over a month ago, we announced that we have secured private placement of $9.2 million from existing and new investors. The additional capital will help us execute our product development roadmap and continue our commercialization. And we have already made significant progress in converting our technology development efforts into contract awards with multiple blue chip customers across welding and additive manufacturing, and we continue to execute against our long-term growth strategy. As such, we are pleased to report another period of strong financial growth with total sales of $1.1 million a total top-line improvement of over 2,000% on a year-over-year basis. Let me dive a little deeper. During the second quarter, we continued to deliver units to Essentium as part of a multi-year partnership. This strategic collaboration aims to further enhance Newbrew's product deliveries by integrating our cutting-edge BlueLazer technology into their high-speed extrusion additive manufacturing platform. The integration of our technology into their platform aims to expand use of additive manufacturing of metal parts for automotive, aerospace, and defense applications, unlocking new possibilities in these industries. Furthermore, we've entered into a joint development agreement with GE Additives to explore commercial opportunities using Nubra's proprietary blue laser technology and GE Additives' machine and system expertise. with the goal of continuing to improve speed and accuracy for laser-based additive manufacturing. This joint development agreement is in addition to our previously announced agreement with GE Additive to support our AFWERX Small Business Innovative Research Contract awarded to NUBRU in 2022. And I'm pleased to inform you that we delivered the first blue area printing head as part of that contract to GE Additive for testing. And most recently, we've just this week announced the contract with NASA. We are incredibly excited about this opportunity as it is for an application only enabled for our blue laser technology. Together with NASA, we are seeking to demonstrate the feasibility of power beaming using a blue laser suitable for deployment on the moon or Mars for upcoming missions. The need for our system is driven by the high cost of lifting wire and necessary equipment into space and transporting it to the moon or Mars. A power beaming system provides a unique solution that dramatically reduces the size and weight of the equipment needed. As the system will be deployed within minutes to bring power to critical areas, we expect other government entities like the DOD or FEMA to be interested in this application of our blue laser as well. In addition, NUBER's visible laser would provide visual guidance to the inhabitants due to the scatter of the fine regolith powder suspended above the moon's surface or the Raleigh scattering off the Martian atmosphere, thus creating a guided highway across these surfaces. Our contract with NASA, as well as our selection by the U.S. Department of Defense for the fabrication and delivery of prototypes and equipment in support of solid-state high-energy laser weapons, which we announced at the beginning of the quarter, are testimonials to the potential of our blue laser technology and its wide range of applications. As we look forward to the remainder of the year, we are cognizant of supply chain conditions that present bottlenecks in the procurement process for scanner components, in particular the scanner and lens-related components, respectively, associated with our BL product line. However, with alternative sourcing initiatives in place, we believe such material constraints will abate toward the end of the second half of this year. As part of our top-down approach to boost gross margins and revenue expansion, our team consistently assesses opportunities for implementing operational efficiencies and cost-saving measures where possible. We will provide updates on the success of these initiatives as they are implemented across our operational strategy. Given this difficult supply chain backdrop, we anticipate third quarter sales to compress, but rebound toward the end of the second half of the year. with the majority of revenue recognition pulling through during the fourth quarter of 2023. Our confidence in this cadence is supported by the additional time in the market for our new BL250 product and additional contract awards we continue to develop as commercial activities across all our target markets evolve. In summary, due to our execution product deliveries to our commercial customers in conjunction with the strong market adoption of our Blue Laser technology, We remain confident in achieving our full-year sales target in excess of $3 million. I will now turn the call over to Brian to discuss the financial details of the second quarter of 2023. Thanks, Mark.