Arbe Robotics Ltd.

Good day and welcome to the RB Robotics Second Quarter 2024 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 your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Miri Segal, CEO of MSIR. Please go ahead.

Thank you, Operator, and everyone for joining us today. Welcome to ARBEI's second quarter 2024 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 applies 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, RBA's co-founder and CEO, who will begin the call with the business updates. Then we will turn the call over to Karim Pinto Flomenboim, CFO, who will review the financials in more detail. Finally, we will open the call for the question and answer session. With that, I'd like to turn it over to Kobi Marenko, Arbe's CEO. Kobi, please go ahead.

Thank you, Mary. Good morning, everyone, and thank you for joining us. On this conference call, we are happy to share significant progress and market endorsement from major industry players. We've hit a major milestone by securing two key customers for the development of our imaging radar for production. We see these selections as strong endorsement of Albert's technological superiority and evidence that we are strategically positioned and on track to capture additional OEMs this year. Let me elaborate on two important announcements. First, one of the top 10 OEMs in the world selected Arbe's chipset for the development of its next-gen imaging radar geared for serial production. This leading OEM has confirmed that preparations for serial production will begin immediately. The decision came after a deep competitive evaluation and careful field testing of our chipset, providing just how reliable and high-performing our technology is. The adoption of our best technology by this major automotive OEM not only validates our innovative solutions, but also opens a significant commercial opportunity. Our versatile chipset can be used across a wide range of vehicle classes, boosting market appeal and potential for broad adoption. Secondly, we are proud to be teaming up with a well-known European truck manufacturer who will revolutionize truck safety using our imaging radar. They are gearing up to include our radar in their next-generation sensor suits a big step forward in their move to more advanced technology. The trucking industry faces distinctive challenges that our imaging radar technology is designed to tackle, including larger vehicle sizes, longer braking distances, and greater collision potential. These factors make it essential for trucks to operate safely in all weather and lighting conditions. As with the OEM selection, our imaging radar went through rigorous testing and evaluation before being selected and was compared directly against other front-end sensors like LiDAR and conventional radar. We view these selections as an acknowledgement of our best technological edge, highlighting the confidence that leading manufacturers have in our technology. These approvals not only validate our innovative solutions, but also demonstrate that our technology stands out in a competitive market. Further, they serve as a clear indicator that we are well positioned to increase our market share and appeal to other key OEMs. The auto industry continues to constantly evolve with new safety standards and regulatory changes driving widespread demand for high-channel count solutions. Since our solution is widely recognized by leading OEMs as the radar with the largest channel array at the best price per channel, we believe that the opportunities are only beginning to emerge. In fact, in Q2, we supported the final stages of OEM RFQs processes in collaboration with our T1s, Magna, Hi-Rain, WIFO, and Sensuad, and we look forward to sharing more updates very soon. We are actively engaged in obtaining full design-ins with leading global automakers, and we expect those decisions in the coming months. Finally, we are happy to report that we have successfully begun trading on the Tel Aviv Stock Exchange. In June, we raised approximately $30 million through a convertible bond offering, and we expect it will help increase our cash reserves in anticipation of upcoming OEM selection. The proceeds from the bond offering are reheld in ESCO and will be released upon meeting certain conditions by March 21, 2025. We are progressing in fulfilling the conditions for the release of the fund, and we will be sharing updates along the way. Now I'd like to turn it over to our CFO, Corinne, to go over our financials.