Arbe Robotics Ltd.

Good morning and welcome to the RBAE Robotics third quarter 2023 financial results conference call. All participants will be in 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 your touchtone phone. To withdraw from the question queue, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Alexis Pascal of MSIR. Please go ahead.

Thank you. And thank you everyone for joining us today. Welcome to ARBE's third 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 earnings 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, Arby's co-founder and CEO, who will begin the call with a business update. Then we will turn the call over to Karine Pentil-Flomanboim, CFO, who will review the financials. Finally, we will open up the call for the Q&A session. With that, I'd like to turn it over to Kobi Marenko, RBCEO. Kobi, please go ahead.

Thank you, Alexis. Good morning, everyone, and thank you for joining us. I will begin by reviewing some of our recent business highlights. In the third quarter, our BAE and our Tier 1s made significant progress towards commercial production, supporting our goal to become a leader in perception radar solutions for the automotive industry. The selection process by vehicle manufacturers involves multiple steps. During the quarter, Arbetium once delivered pre-samples of radar systems based on our chipset to leading OEM. These samples facilitate the evaluation of production functionality and mark a crucial milestone in the OEM selection process. Additionally, they enable OEM perception teams to gather data for their L2 plus and L3 applications within ongoing development projects using always cutting edge technology. Our advanced technology plays an increasingly pivotal role in enhancing the next generation product offering of our tier one partners. Tests performed on radar systems using the ARBE chipset have consistently demonstrated performance that meets or exceeds target benchmarks, reaffirming the superior quality of our technology. ARBE is currently engaged with four top Tier 1 companies, Magna, Hiren, Wifu, and Sensrat. In Q3, all four advanced to the production of radar systems based on our chipset and are now in the final stages of selection with prominent European, American, and Asian OEMs. Additionally, we are awaiting the final confirmation of success in securing two prominent truck projects. Collectively, the OEMs that are in the final selection stages for our technology represent 31% of the global passenger vehicle market. The fact that they are currently opting for imaging radar shows a strong preference for imaging radar technology, and it will likely become the standard technology of choice for most passenger vehicles by the end of the decade. We are sizing this opportunity and are fully committed to realizing it. As previously announced, we have received preliminary chipset orders from China for 2024 and 2025. WIFU High Technology Group, a key Tier 1, we've been working with since 2019, has placed an 11.6 million preliminary order for Aube radar chipsets, meeting their projected sales demand for customers in China. In addition, Hiren Technologies, a leading Chinese ADAS tier one supplier, has placed a preliminary order for 340,000 radar chipsets to serve the customers throughout China. Aube's current cash balance ensures sufficient funds until the second half of 2025. The current funds and the preliminary orders from China will allow the company to reach breakeven with its existing cash. On the corporate front, we are delighted to welcome Professor Yonina Eldar to our Board of Directors. Professor Eldar is a known expert in electrical engineering and radar theory at the Weizmann Institute of Science. She is known for a groundbreaking role in sub-Nike West sampling. Her addition to our board is of great significance, and we are proud she chose to join ARBE. Regarding the current situation in Israel, we want to emphasize that our operations and ability to conduct business activities are not affected. We continue to monitor the situation and will adjust as needed to ensure the continuity of our business while prioritizing the safety and the well-being of our employees. I would also like to highlight that Arbeil is a fabless company. The manufacturing and production of our chipsets are carried out in Germany by Global Foundries, a multinational semiconductor manufacturing and design company. As a result, we do not anticipate any changes in product availability. While around 20% of our team were called for military duty, this primary affects long-term projects that we are involved with, with no impact on our immediate client support capabilities. Arbe has successfully continued to operate as Blend, thanks to the commitment and dedication of our employees. Now, I'd like to turn it over to our CFO, Corinne, to review the financial results in more details.