ECARX Holdings Inc.

Good day and thank you for standing by. Welcome to the ECARCS Q4 and full year 2025 earnings conference call. At this time all participants are in a listener only mode. After the speaker's presentation there will be a question and answer session. To ask a question during the session you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question please press star 1 and 1 again. Alternatively, you may submit your questions via the webcast. Please be advised that today's conference is being recorded. I'd now like to hand the conference over to your first speaker today, Gillian Tiltman. Please go ahead.

Thank you, operator. Good morning, and welcome to eCARx's fourth quarter full year 2025 earnings conference call. Joining me today from eCARx are Chairman and Chief Executive Officer Ziyu Shen, Chief Operating Officer Peter Cerrito, and Chief Financial Officer Phil Zhu. Following their prepared remarks, they will all be available to answer your questions. Before we start, I would like to refer to our forward-looking statements at the bottom of our earnings press release, which also applies to this call. Further information on specific risk factors that could cause actual results to differ materially can be found in our filings with the SEC. In addition, this call will include discussions of certain non-GAAP financial measures. A reconciliation of the non-GAAP to the GAAP financial measures can be found at the bottom of our earnings release. With that, I'd like to hand the call over to Ziu. Please go ahead.

Thank you, Gillian. Hello, everyone, and thank you for joining us today. eCARX is transforming vehicles into seamlessly integrated information, communication, and transportation devices. To realize this vision of becoming a leading AI technology provider, in the automotive industry. We must proactively navigate today's dynamic regulatory and market environment, ensuring we remain compliant and maintain growth while pushing the boundaries of automotive intelligence globally. By diversifying both our geographic revenue base and our solution portfolio, we are building e-commerce into a robust, compliant, and most important truly global business. The fourth quarter was a critical influence point and marks the start of our next phase of sustainable profitable growth. We delivered net income of $2.8 million, adjusted EBITDA of $22 million, and operating income of $7 million, marking our second constructive quarter of positive results as revenue hit a historical high of $305 million. up 13% year-over-year. Growth profit was $64 million, up 11% year-over-year with a growth margin of 21%. These results are a direct reflection of the execution of our lean operating strategy, which continues to deliver a resilient recovery in growth margin, enhance R&D efficiency, and optimize the operating expenses despite the several challenges posed by tenant policy in the global semiconductor supply chain, we remain firmly on track to sustain this strong and profitable momentum into 2026. Our momentum is being fueled by two distinct engines that are allowing us to unlock growth opportunities from existing and new partnerships. First, Our computing platform continues to drive strong sales growth for best-selling models, allowing us to deepen the penetration rate of our solutions across our partner vehicle lineups and anchor the stability of our core business. Notably, shipments of our Antola series reached a one-million-unit milestone in 2025, underscoring the platform's market leadership. With the concentration of Antola shipments increasing within our total shipments, our vertical integration capability allows us to capture great value and structurally enhance our long-term profitable growth trajectory. Secondly, our globalization strategy continues to amplify our unique value proposition as a core technology partner worldwide. demonstrating the global applicability and scalability of our solutions to potential and existing partners. Our deepened partnership with Volkswagen Group in Latin America is a key milestone in this journey, demonstrating how the Antola platform is setting a global standard for intelligent copies and driving our international expansion. This agreement utilizes our platform to meet diverse market needs with the high performance and total 1,000 for online brands that integrates our Cloud Peak software stack and Google Automotive Service and cost effective and total 500 for entry-level segments. This highlights how our core technology already proving the popular launch of GDGalaxy EX5 and Volvo EX30. can seamlessly scale across diverse brands and international markets. This flexibility showcases how we eventually address the evolving needs of leading automakers on a global scale. Looking ahead to 2026 and beyond, we are fully prepared for this next phase of growth. Our future strategic priorities as we progress will focus on three key pillars. First, we will continue to drive our globalization strategy and develop broader global strategic partnerships, continuing to leverage our cutting-edge, cost-effective solutions. These existing partnerships are blueprint to demonstrate the capability and scalability of our physical AI architecture, and will allow us to further stronger partnerships with significant commercial value and drive an increase in overseas revenue. We are on the path to transforming our business into even more of a truly global technology leader. Well, we have set targets to meaningfully increase our share to total revenue from international markets by the end of the decade. Second, we will continue to invest in our R&D roadmap and development of next-generation computing platforms. intelligent driving solutions like skyline pro to drive high performance ai computing power and in vehicle ai large models by driving the industry transition from features central to intelligence central experiences we will maintain our leadership position and pupil and proper our business towards high value software and ai service not only for automotive applications but also adjacent sectors like robotics. Third, we will continue to strengthen our lean operating strategy and strategic execution to sustain profitability. Our transition to an automotive AI technology provider allows for great platform modularity, which drives R&D efficiency and sustains profitability. Our target for 2026 is continue to generate meaningful annual revenue growth and maintain positive operating income throughout 2026. Moreover, we raised nearly $200 million in recent months from partners, including GD and ATW partners, a powerful inducement of our global growth strategy, technology leadership, and proven ability to capitalize on accelerating demand. This additional capital will support the build-out of our R&D and engineering hub in Germany and infrastructure across key growth markets in South America and Southeast Asia, providing us with R&D deliver and supply chain capabilities to fuel our global expansion. With a strong finish to 2025 and accelerating global expansion, a growing suite of innovative solutions and the first two quarters of profitable growth. We are confident in our ability to capture the opportunities ahead as the automotive industry continues its transformation. I will now pass the call over to Peter Serino, who will go through the operating results of the quarter in more detail.