MicroVision, Inc.

And welcome to the Microvision First Quarter 2023 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode. And should you need any assistance during today's call, please signal a conference specialist by pressing the star key followed by zero. At the end of today's presentation, there will be an opportunity to ask questions via a chat line. Investors can submit their questions within the meeting webcast by typing them into the View Q&A button on the right side of your viewing screen. Analysts who publish research may ask questions on the phone line. For analysts to ask a question on the phone line, please press star, then one. If you wish to remove your question, you may press star, then two. Please also note that this event is being recorded. I would now like to turn the conference over to Drew Markham. Please go ahead.

Thank you. I'm pleased to be joined today by our Chief Executive Officer, Sumit Sharma, and our Chief Financial Officer, Anubhav Verma. Following their prepared remarks, we will open the call to questions. Please note that some of the information you'll hear in today's discussion will include forward-looking statements, including, but not limited to, statements regarding our product development and performance, comparisons to our competitors, market opportunity, product sales and future demand, business and strategic opportunities, customer and partner engagement, projections of future operations and financial results, availability of funds, as well as statements containing words such as potential, believe, expect, plans, and other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the future results implied or expressed in the forward-looking statement. We encourage you to review our SEC filings, including our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q. These filings describe risk factors that could cause our actual results to differ materially from those implied or expressed in our forward-looking statements. All forward-looking statements are made as of the date of this call, and except as required by law, we undertake no obligation to update this information. In addition, we will present certain financial measures on this call that will be considered non-GAAP under the SEC's Regulation G. For reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure, as well as for all the financial data presented on this call, please refer to the information included in our press release and in our Form 8K dated and submitted to the SEC today, both of which can be found on our corporate website at ir.microvision.com. under the SEC Filings tab. This conference call will be available for audio replay on the Investor Relations section of our website. Now, I'd like to turn the call over to our CEO, Sumit Sharma. Sumit?

Thank you, Drew, and welcome, everyone, to this review of our first quarter 2023 results. We started the quarter with the closing of our transaction of IBO assets and have been working diligently on integration and expanding customer engagements for our new product portfolio. We've made great progress and positioned the company well to achieve the business milestones I presented in our previous investor call. So let's dive into updates on our progress. We remain on target for full year revenues in the range of 10 to 15 million from our expanded product portfolio. Our go-to-market strategy remains unchanged and our team is executing on it. We have restarted the momentum of sales for the combined company with direct sales and royalties from LiDAR hardware from non-automotive OEM sales. With the current Movia sensor in direct sales, we expect to fulfill a market demand of stable sensors to enable development of software applications that deliver safety, security, and smart city management for our potential customers. We remain on track to bring to market an industrialized product based on Movia to address various channels with a more cost-competitive industrial solution. This new product leverages the sensor developed and qualified by IBO team and is optimized for cost and performance for industrial segments. We also expanded sales of our Mosaic validation software suite with a new OEM customer. This product line is just starting its growth cycle, and we're excited about how it will develop deeper engagement with OEMs. OEMs in Tier 1 spend hundreds of millions of dollars annually validating various sensors in their vehicles, and we intend to become the dominant player in this segment. Now, let's talk about strategic sales for automotive OEM and RFI and RFQ in-flight for Maven and Movia. As I recently updated on our investor day in April, we are engaged with OEMs for technology and partnership review for sensors targeted for roofline and behind windshield integration for Maven DynamicView LiDAR and in-body integration for Movia sensors. These are the highest volume RFQs in-flight with top global OEMs, and our technology is well-received. we remain on target for our 2023 milestone of OEM partnerships. As I've mentioned before, the process is long with deep review of technology, manufacturing, integration, safety, and business stability. We remain on target to complete RFQs in the second half of the year, as I've stated before. To support future Maven revenue stream, we look to launching our analog and digital ASIC new contract manufacturing partnership, and completing a B sample design by the end of the year. This B sample design will incorporate all the features required in the smallest form factor and would be the candidate to meet requirements for multiple OEMs. Beyond our current 2023 engagements, we are starting to see RFIs for 2024 RFUs from OEMs as well. As I've stated before, some of the deals announced in the past from our competitors are not for the entire fleet. OEMs are active in sourcing more advanced LiDAR solutions for larger projects. ADAS systems that require small object detection require the highest resolution at all ranges in the lowest profile sensor with an integrated thermal management system. MAVEN meets all these requirements. We are also receiving requests for Maven with full perception one box solution, which proves the acquisition thesis. We have the technology and the talent to enable these partnerships. We are also seeing RFI and RFQ engagement for Movia sensor for high volume now. For a wide field of view, short range LIDAR, the simplicity and the price point Movia can provide will be unparalleled. These RFUs also involve the current generation Movia sensor and proposals for a miniaturized version using the current developed ASIC. With multiple LiDAR required per vehicle, this is a great opportunity for us to expand our LiDAR offerings to OEMs. I wanted to conclude my prepared remarks by reiterating two key points. First, we are focused on generating revenues from software and hardware sales and remain focused on our business goals for 2023. Second, strategic sales of Maven and Movia sensors are the biggest revenue opportunities for Microvision, and I believe we are in great shape for our 2023 objectives of multiple OEM agreements. I want to conclude by thanking our global team and their hard work that has allowed us to be well positioned for an incredible year ahead of us. I would like now to turn the call over to Anubhav to talk about our financials. Anubhav?