Transphorm, Inc.

Good afternoon. My name is Mike and I'll be your conference operator today. At this time, I would like to welcome everyone to the Transform Inc Business Update conference call. All lines have been placed on mute to prevent any background noise. After the speaker's prepared remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press the pound key. Please be advised that today's conference is being recorded. I would now like to turn the call over to Brett Perry of Shelton Group Investor Relations. Brett, please go ahead.

Brett Perry Good afternoon, and welcome to Transform's third quarter business update conference call. Joining us today from Transform are Mario Rivas, Chief Executive Officer, Premit Parikh, Co-Founder and Chief Operating Officer, Cameron McClay, Chief Financial Officer. Before we begin, I'd like to point out that there is a slide presentation associated with today's call. which management will be referencing during the conference call. These slides can be accessed through the webcast link in the investor relations section of Transform's website, where they're also posted and available as a linked PDF. Additionally, during the course of this call, the company may make forward-looking statements regarding the company's financial position, strategy and plans, future operations specific into markets, and other areas of discussion. It's not possible for the company's management to predict all risks, nor can the company assess the impact of all factors on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed during this call may not occur, and actual results could differ materially and adversely from those anticipated or implied. Any projections as of the company's future performance represent management's estimates as of today, November 10th, 2020. Neither the company nor any person assumes responsibility for the accuracy or completeness of the forward-looking statements. The company also undertakes no obligation to publicly update forward-looking statements for any reason after the date of this call to conform such statements to actual results or to the changes in the company's expectations. For more detailed information on risks associated with the company's business, we refer you to the risk factors described in Transform's S-1 filing on June 2nd, 2020, as well as the company's other subsequent filings with the SEC. With that, it's now my pleasure to turn the call over to Transform CEO, Mario Rivas. Mario, please go ahead.

Thank you, Brett. Welcome, everybody, to today's call, and thank you for joining us. We are excited to be hosting today's call and to have the opportunity to provide a business update to our existing shareholders as well as new prospective investors. Despite a challenging environment, we saw steady progress in several areas in the first three quarters of 2020, and we are able to maintain our upward outlook. Our underlying business remains stable And we saw good customer activity resulting in stable revenue driven by licensing, government, and product areas. We continue to support our customers during the coronavirus crisis. And with our strong intellectual property and supply chain, we are in a good position to continue to do so. Transform enables next generation power conversion solutions in rapidly growing markets. Next slide, Brett. No, no. the one before. Sorry, my connection must be slow. Transform CAN solutions will enable the future of electric vehicles and fast charging for 5G smartphones. Our technology is validated by our blue-chip partners and customers, as well as by the U.S. Department of Defense through the Office of Naval Research. We continue to ramp up commercially with enough capacity to support 50 to 80 percent compound growth rate. Our technology is also supported by the strongest GAN IP portfolio and the most qualified GAN team with a collective experience of over 300 years. We are also happy to announce that we recently expanded the leadership and expertise of our board with the appointment of Dr. Julian Humphries as an independent director. Next slide, Brad. Some of the mega trends driving the growth for GAN include the appearance of over 30 million electric vehicles in 2025, which will contain onboard chargers, power converters, and power inverters. 100 million 5G handsets in the year 2021. That will be smartphones, laptops and tablets, and gaming consoles, all needing fast chargers. And a market of over $800 million from Gunner S for 5G RF devices, even infrastructure, high-frequency broadband in the Department of Defense, which we will support via our IP sales. With this, I'll pass the call to Translocal founder and CEO, Pramod Parikh, to walk through the developments over the past few months.