Arbe Robotics Ltd.

The conference will begin momentarily. Please stay on the line. Thank you. Thank you. Hello and welcome to the RBA Robotics fourth quarter and full year 2023 Earnings Results Conference call and webcast. 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 telephone keypad. And to withdraw from the question queue, please press star, then two. I would now like to hand the call over to Miri Segal of MSIR. Please go ahead.

Thank you, everyone, for joining us today. Welcome to our Bay's fourth quarter and full year 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, our base co-founder and CEO, who will begin the call with a business update. Then we will turn the call over to Corinne Pinto-Flommenboim, CFO, who will review the financials. Finally, we will open the call for the question and answer session. With that, I'd like to turn it over to Kobi Marenko. Kobi, please go ahead.

Good morning, everyone, and thank you for joining us. I will begin by reviewing some of our recent business highlights. Dan Karim Pinto Flumenborn, our CFO, will review the financials in more detail and share our outlook. Finally, we will open the call for the question and answer session. Throughout the year, we focused on driving a radar revolution with our industry-leading solutions. We are pleased with the progress we have made as we continue to innovate and develop our offerings in 2023. Although some OEMs pushed their decision timelines into later this year, the anticipation surrounding our offerings is high and we expect to announce significant customer wins in 2024. Industry timelines have been extended as the auto industry realigns its autonomous driving ambitions with a focus on enabling meaningful Level 2 Plus and Level 3 applications to differentiate their offering and meet customers' needs. As a result, OEMs have redirected their engineering resources and adjusted product roadmap. The dream of safe hands-free driving is within reach. According to Evercore analysts, in 2028, around 30% of all new vehicles will offer hands-free driving. The industry is currently selecting the next generation sensor solution to fuel this revolution. We see that the core sensor needed to solve the problem is a high channel count imaging radar like our base. This demand is well reflected in all RFPs we encounter in the market. One of the most exciting developments of Q4 was our announcement of the production version of our radar processor. It supports the processing of a reach point cloud that is 10 times more detailed than any other radar on the market, offering the first radar-based solution that is detailed enough to support OEM's ambition to launch level 3 and higher autonomy applications. Our sophisticated perception radar supports the needs of hands-free driving at an affordable price, providing unmatched safety that we believe can scale the industry to full autonomy. Also, on the product front, we recently announced the availability of our production intent chips which includes the transmitter, receiver, and processor for the manufacturing of perception radars. This is an important step leading to the production and the revenue phase. Now our chipset is in the automotive qualification phase, which is the final step before mass production this year. The production in 10 chips is already in use by August Tier 1, in their rich sample systems and has been delivered to OEMs for data collection and algorithm development. In January, we were proud to announce an important milestone. Hiren, one of our long-time Chinese tier ones, announced that it will begin the mass production of state-of-the-art 4D imaging radars powered by our chipset by the end of this year. In addition, Hiren announced it will start a data collection phase using a vehicle fleet, equipped with ARBE-powered imaging radars, with plans to cover 1 million kilometers. The goal of the data collection project is to optimize the fusion and perception systems to enable key safety and comfort features. On top of HiRACE, five other leading OEMs selected ARBE's chipset for perception projects. Additionally, our Bayer received a second order for evaluation systems from a leading Western RAC company. This level of commitment from Tier 1s and OEMs marks an important final step before moving into the commercial phase. Shifting gears as part of our growth strategy, we are also targeting the non-automotive market, which is moving faster than the traditional auto market. One of our Tier 1 sensors recently announced that it has significant customer orders for its Eugene imaging radar, which is based on our chipset. These orders include an American autonomous transportation global manufacturer, a robotized professional outdoor power equipment manufacturer, as well as a key player in the transportation sector. We view this achievement as a strong validation of our technology. Collaborating with Sensra in the non-automotive market increases our total addressable market and accelerates our time to market. Finally, we are initiating a dual listing on the Tel Aviv Stock Exchange to enhance our trading volume. At the same time, we plan to issue bonds to the public to secure working capital to support the predicted production ramp-ups in 2025. This proactive and strategic approach underscores our commitment to optimizing investor value and fortifying our financial position in a dynamic market landscape. In summary, we are encouraged by our progress during the past year as well as the progress of our Tier 1. Despite selection process and OEM program delays that are out of our control, we see that customers are excited about our solutions and the possibilities we can achieve together. We believe that Arbe remains strongly positioned as a long leading radar supplier in those OEMs and we expect to announce four customers wins in 2025, in 2024. Additionally, our efforts in targeting new areas around the non-automotive industry is providing to be successful and we see faster go to market opportunities in these markets. Arbe continues to innovate and we believe we can lead the safe and smooth evolution. Now I'd like to turn the call over to our CFO, Corinne, to go over the financial.