AEye, Inc.

Good day, and thank you for standing by. Welcome to the AI second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising you your hand is raised. To try your question, please press star 1 1 again. please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker, Jeremy Apple. Please go ahead.

Good afternoon, and thank you for joining AI's second quarter 2025 earnings call. With me today are Matt Fish, Chief Executive Officer and Chairman, and Connor Tierney, Chief Financial and Business Officer. Earlier today, AI announced its financial results for the second quarter. A copy of this press release can be found on the investor relations section of the company's website. Before we begin, I would like to remind participants that today's discussion may include forward-looking statements as defined in the securities laws and regulations of the United States with reference to future events, operating results, or financial performance. And such 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 risk uncertainties, and other factors in the report's AI files from time to time with the Securities and Exchange Commission, including in the most recent periodic report. The statements to be made are as of today only, and AI does not intend to update any forward-looking statements regardless of any new information, future developments, or otherwise, except as may be required by law. In addition, we will be discussing non-GAAP financial measures on this call. which we believe are relevant in assessing the financial performance of the business. These measures are presented as supplemental information only and should not be considered a substitute for financial information presented in accordance with GAAP. You can find reconciliations of these metrics to the most directly comparable GAAP measures within the press release. Now, I'll pass the call over to Matt.

Thanks, Jeremy, and thank you all for joining our second quarter 2025 earnings call. It's an exciting time for AI. Over the past few weeks, we've delivered a wave of new wins that signal an inflection point for our company. First, we were certified as an NVIDIA Drive AGX partner and selected for the GM-backed Wintour project, both of which could open the door to major new commercial channels. Second, a top global transportation OEM chose Apollo for a critical autonomous safety program, providing us with a potential $30 million opportunity, which we expect to begin contributing to revenue this year. And third, we launched Optus, our next generation platform that has now been deployed to multiple customers. Optus is a clear proof point of our ability to scale efficiently into a range of high value markets with its open architecture, AI driven analytics, and adaptability across use cases. Our dedicated focus on business development is delivering results. Our sales funnel has grown exponentially, leading to 30 new potentially high value customer engagements, we've signed six revenue generating contracts and have a clear line of sight into additional orders totaling thousands of units. Further, our supply chain is ready today and our manufacturing line with light on is primed to scale production to meet growing customer demand. Now I'd like to take a moment to share how thrilled we are that Apollo is now officially certified as an NVIDIA DRIVE AGX partner. NVIDIA's Drive AGX is positioned to become one of the most widely adopted compute platforms in the automotive industry, and certification is viewed by OEMs as a critical validation of Apollo's performance, as well as its readiness for integration into OEM vehicle programs. This milestone takes our partnership with NVIDIA to the next level. potentially unlocking new OEM engagements and creating a powerful channel to expand our presence across the automotive market. Most importantly, it paves the way for Apollo's integration into Hyperion, NVIDIA's full-stack ADAS platform, which would put AI at the center of next-generation autonomous driving product development. I'm excited to announce that this milestone has also helped us to take a significant step forward in our engagement with a top five global OEM. As a next generation LiDAR sensor, Apollo is also leading the charge to break through one of the toughest barriers to full autonomy, performance in adverse weather. In June, we were selected as the LiDAR partner for WINTOR, a GM-sponsored project led by the University of Toronto that is focused on enabling safe and effective autonomous driving in rain and snow. This is a strong endorsement of AI leadership in expanding the reach of autonomy beyond the Sunbelt region. Our involvement with Wintour supports AI's position as a leader in defining future OEM ADAS specifications creating the potential for a significant sourcing advantage for future OEM programs. As you may recall, we began shipping Apollo B samples last quarter, and since then, we've spent much of the summer showcasing Apollo in live test drives with top automotive OEMs across the US and Europe. The response from OEMs cemented Apollo's clear differentiation and unique ability fit within existing vehicle packaging, which we believe is a key enabler to broader LIDAR adoption across vehicle lines that will in turn unlock industry-leading scale for our company. Beyond the automotive market, we are deploying Apollo with a growing number of customers around the globe, including China, and in markets spanning intelligent transportation systems, security, defense, rail, and aviation. We are winning in these verticals due to Apollo's unparalleled one-kilometer high-resolution detection capability and incredibly competitive product cost. Furthermore, Apollo's SmartScan software-defined architecture enables us to rapidly adapt our single-sensor hardware to many use cases. Our customers and software partners love the resulting speed and low deployment cost, generating scale for AI that we believe will be unmatched in the industry. To keep pace with growing customer demand, we've also opened our platform to third parties. which allows us to collaborate with the global AI developer community. By combining Apollo's advanced sensing with the power of AI analytics and decision making, we are now delivering end-to-end integrated turnkey solutions to our customers, which should enable them to reduce bottlenecks and rapidly unlock new revenue streams. These third-party collaborations have also led to the formation of a global innovation network that culminated in the development of Optus. Optus is a full-stack, flexible LiDAR solution that enables intelligent decision-making in complex and often hazardous environments. Powered by the world's most ubiquitous AI platform, NVIDIA's Jetson Orin, Optus couples open architecture and low-friction integration with a broad set of third-party AI sensing, analytics, and decision-making software to deliver unique solutions that meet our customers' needs. We are proud that we were able to achieve all of this while operating within AI's capital-light financial strategy, which allows us to maintain the lowest-cost envelope in the industry while driving tremendous scale. We recently secured contracts for multiple Optus deployments in the markets I just mentioned, with high confidence path to several more wins this year. AI has definitively transitioned from product development into active sales and deployment. We're seeing strong market validation through a surge in customer engagement, growing product shipments, and a major win with a leading global transportation OEM. Perhaps most importantly, AI is emerging as the clear leader in next-generation LIDAR and is poised for broader customer deployments in the automotive industry, as well as other verticals at the forefront of physical AI. Our leadership is reinforced by elevated relationships with industry giants, such as NVIDIA, as well as through Apollo's selection for the GM-sponsored Wintour project which is forging new frontiers in autonomous driving. And with the launch of Optus, we're extending our reach into physical AI and intelligence systems. The momentum is real, and we look forward to sharing updates on Optus deployments and new customer wins in the quarters ahead. I'll now turn the call over to Connor to review our financial performance.