Arbe Robotics Ltd.

Good day and welcome to the RBA Robotics second quarter 2023 earnings results conference call. All participants will be in a listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch tone phone. To withdraw your question, please press star then two Please note this event is being recorded. I would now like to turn the conference over to Mary Sagal of MSIR. Please go ahead.

Thank you, operator, and everyone for joining us today. Welcome to RBA's second quarter 2023 financial results conference call. Before we begin, I would like to remind our listeners that certain information provided on this call may contain forward-looking statements and the safe harbor statement outlined in today's press release also pertains to this call. If you have not received a copy of the release, please view it in the investor relations section of the company's website. Today, we are joined by Kobi Marenko, Arbe's co-founder and CEO, who will begin the call with a business update. Then, we will turn the call over to Karin Pinto-Flommenboim, CFO, who will review the financials. Finally, we will open the call up for the question and answer session. With that, I'd like to turn the call over to Kobi Marenko. Kobi, please go ahead.

Thank you, Marie. Good morning, everyone, and thank you for joining us. I will begin by reviewing some of our recent business highlights. Then, Karin Pinto-Flumenbaum, Arbez CFO, We'll review the financials in more detail and share our outlook. Finally, we will open the call for the question and answer session. We are pleased with the progress we have made in the second quarter. Our product development is on track, and we are poised to achieve a production-ready chipset by the end of this year. Our collaboration with Tier 1s is rapidly evolving, reinforcing our position in the global auto market. Notably, our cutting-edge technology plays an increasingly important role in enhancing our customers' next-generation product offering. WIFU High Technology Group, a key Tier 1 we've been working with since 2019, placed an $11.6 million preliminary order for Radar Chipset, which will enable our bank to meet WIFU's project and sales demand for 2024 for customers across China. As many of you are aware, China is one of the fastest growing automotive industries in the world, and this preliminary order represents a large opportunity for us going forward. We know there is a strong demand for perception radar coming from the region, and we are committed to providing key players such as WIFU with the most advanced perception radar solutions that can provide comprehensive free space mapping of a vehicle's surroundings. Additionally, WIFU placed a $1 million order for professional services, including engineering services, setup of a testing lab, and advanced support from ARBE. As we mentioned in Key 1, WIFU has already successfully established a production line and has a functional B sample in operation, which represents the production configuration. Other T1s are actively constructing their production lines and are in the final stages of B sample development as well. This achievement represents one more milestone for our expansion strategy, starting revenues from China in 2024. In parallel, radars based on Arbe's chipset are in final stages of selection with 11 major premium OEMs in Europe and in China. we see momentum for our radar, mainly for level 2++ and level 3 applications in both of those markets, and we have confidence that we will meet our targets for four selections this year. In Q2, we were very happy to have successfully raised $23 million with special situations funds, as well as with some of our current investors who are related to our directors. In case you are not familiar with special situation funds, they are a collection of value-driven funds that invest in growth-oriented small and micro-cap public equities preliminary in the United States, Israel, and Canada. The fund states that its mission is to identify complex technology trends likely to materialize in the not-too-distant future and then invest in small companies with state-of-the-art solutions that critically enable those trends. We expect to use the proceeds to further enhance our penetration in the Chinese automotive market, expedite our R&D efforts, increase our chipset line capacity, capitalize on recently proposed safety regulations, and strengthen our balance sheet. Just recently, during Q2, we participated participated at the International Wireless Industry Consortium Automotive Sensor Architecture Conference, hosted by BMW, where we showcased our latest breakthrough in radar-camera fusion. ARBA's advanced AI algorithms enable real-time fusion of radar and camera data, empowering vehicles, with enhanced object detection and tracking capabilities at high speed and long ranges. This innovative solution is designed to excel in detecting multiple objects to provide clear pathways on highways and in urban environments, ultimately making it truly safe for drivers and pedestrians alike. As we look to the second half of the year, we are confident in our position and we remain committed to adding four customers' wins by the end of 2023. Now, I'd like now to turn it over to our CFO, Corinne, to go over the financials.