Cepton, Inc.

Welcome to the SEPTOM Incorporated Q3 2022 Business Update and Earnings Call. At this time, all participants are on a list and owning mode. Later, we will conduct a question and answer session. I'll now turn the call over to your host, Paul Hsu, Chief Financial Officer. Paul, you may begin.

Thank you and welcome everyone to SEPTOM's third quarter 2022 earnings call and business update. With me today is Jun Pei. co-founder and chief executive officer, and Mitch Ortini, senior vice president of business development. During the call, we may refer to our unaudited GAAP financials and non-GAAP measures in our earnings release. The non-GAAP financial measures should not be considered as a substitute or superior to the measures of financial performance prepared in accordance with GAAP. Reconciliations for non-GAAP measures are included in our earnings release. I'd like to remind everyone that comments made in this conference call may include forward-looking statements regarding the company's expected operational and financial performance for the future periods. These statements are based on the company's current expectations and are subject to the safe harbor statements. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of factors. We're not undertaking any commitments to update these statements as a result of future events, except as required by law. As a quick reminder, this call is being recorded, and you can find the earnings release and slides that accompany this call, as well as a webcast replay of this call at investors.septom.com. Now I'd like to turn the call over to Jun.

Thank you, all, and good afternoon, everyone. Thank you for joining SEPTOM's third quarter earnings call. We will provide a business update and review third quarter 2022 financial results with you. I would like to start our business update with an exciting announcement. We recently entered into a binding agreement for a $100 million investment from our long-term automotive tier one partner and current shareholder, Koito Manufacturing of Japan. This transaction marks Koito's third investment in SEPTA. and is a testament to COETO's continued commitment to our company and to the future of LiDAR. We're very appreciative of COETO's support as this will solidify SEPTOM's financial positions and further strengthen our partnership on series production execution as well as collaboration efforts towards winning automotive OEM programs in addition to the General Motors design win we have already captured. We founded the company with a market focus on building LIDARs as a safety device in everyday vehicles, specifically targeting the ADAS market to help save lives. This thesis has been the guiding principle of our development efforts and commercial engagement over the past six years. We aim to create LIDAR sensors that achieve a balance of performance, cost, and reliability for mainstream vehicles. 2017. marked the beginning of a successful long-term relationship between SEPTON and COETO. And in the five years since, our teams have successfully collaborated to be selected as the LiDAR provider for General Motors' Ultra Cruise System. This development journey with General Motors has taken three years. The length and the extent of effort involved cannot be understated. SEPTON found in COETO a partner who not only believed in the prospect of LiDAR, but also stood behind Septon's innovative technology, as well as investing in Septon for the future of automotive safety. Going forward, with this latest investment, Septon and COETO teams are sharply focused on the commercialization and scale manufacturing of our LiDAR products. Septon is proud to support GM's vision of zero crashes, zero emissions, and zero congestion with our intelligent LiDAR solutions being an integral part of the Ultra Cruise program. This quarter, we saw the first public review of SEPTON LiDAR integrated behind the windshield in a production vehicle. This marks a tremendous achievement for the company. SEPTON is proud to be enabling one of the first OEM deployments of in-vehicle LiDAR technology. Looking further ahead, Our series production award is secured up to model year 2027, and we're in advanced discussions to extend this program further beyond. There are a number of other notable achievements for Septon this quarter. Septon's Nova LiDAR has been selected as the Automotive Sensor Hardware Solution of the Year in the third annual Autotech Breakthrough Award program. This shines a light on our emerging products that provide versatility for large-scale deployment in many different short-range LiDAR applications. In addition, Septon announced multiple collaboration partnerships, including with NVIDIA on their DriveSIM platform and LiDAR Swiss for high-fidelity mapping. From industry experts to emerging technology companies, Septon has been the LiDAR provider and collaboration partner of choice for a wide variety of automotive and non-automotive use cases. Looking further ahead, we remain on track to take out our next generation ASIC. This new chip will be complementary with our current ASIC and will enable Septon's next generation product line, targeting both automotive and non-automotive customers while featuring performance benefits and cost efficiencies. Further out, in January 2023, we are expected to unveil our next generation product at CES. Please subscribe to Septon Social Media to watch a short teaser to be released in the coming weeks. On digital media, we launched our new branding video and we invite you to our website to learn more about our company and our vision. Next, I'll turn it over to Mitch.