AEye, Inc.

Good afternoon, and welcome to the AI Inc. 3rd Quarter 2022 Earnings 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 telephone keypad. 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 Clyde Montevergan, Vice President of IR and Strategic Finance. Please go ahead.

Good afternoon, and thank you for joining AI's third quarter 2022 earnings call. With me are Blair LaCourte, Director and Chief Executive Officer, and Bob Brown, Chief Financial Officer. We will also hear from Louis Desson, AI's co-founder and chief technology officer, to celebrate a significant company milestone with the official launch of our groundbreaking Foresight Adaptive LiDAR platform. Earlier today, we announced our financial results for the third quarter 2022. A copy of our press release can be found on our website at investors.ai.ai. Before we begin, I would like to remind participants that today's discussion may include forward-looking statements as defined by United States securities laws in connection with the future events, future operating results, or financial performance. Forward-looking statements are based on our current expectations and assumptions regarding our business, the industry, and other conditions. These forward-looking statements are subject to inherent risks, uncertainties, and changes in circumstances that are difficult or impossible to predict. Our actual results may differ materially from those contemplated by these forward-looking statements. We caution you, therefore, against placing undue reliance on any of these forward-looking statements. You can find more information about the risks, uncertainties, and other factors in our reports filed from time to time with the Securities and Exchange Commission, including in our quarterly report on Form 10-Q for the period ending September 30, 2022. All information discussed today is as of November 10, 2022, and we do not intend and undertake no obligation to update any forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law. In addition, today's discussion will include references to certain non-GAAP financial measures. These non-GAAP measures are presented for supplemental information purposes only and should not be considered as a substitute for financial information presented in accordance with GAAP. A reconciliation of the measures to the most directly comparable GAAP measures is available in our press release and you should refer to our Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Measures in our earnings release. Let me now pass it over to Louis.

This is a targeting pod that is used on almost every U.S. and NATO aircraft today. It is a multimillion-dollar system that includes advanced state-of-the-art sensing technologies and real-time data analysis software. I helped design it. I also designed this, the AI Foresight M. Almost 10 years ago, I started with a white sheet of paper and the vision to bring some of these cutting edge military spec capabilities of the targeting pod to vehicles of all shapes and sizes to enable safer and more efficient transportation. AI is now bringing that vision for a safer future to life. We took the complexity out of the hardware and moved it to the software. creating an operating system on the sensor. This enables us to create an intelligent sensing platform that delivers incredible flexibility, reliability, and performance. The Foresight M for automated tolling speeds up traffic at what before was a bottleneck, reduces emissions, and maintenance costs. The Foresight M is providing automatic incident detection on freeways. radically improving safety, reducing accidents, and improving highway throughput. The Foresight M is detecting obstacles and wires in the blind spots for helicopter pilots, saving lives. This same technology is also now available in an HRL 131 production intent B sample from Continental. It's currently in pre-development design programs with leading automotive OEM ADAS systems and autonomous trucking platforms. And now we can deliver this technology at scale. AI's Foresight M is being built by our partner, Sammina. And with our products in hand, We can help provide a safer and more efficient future for all of us.