Transphorm, Inc.

Good afternoon. My name is Sarah and I'll be your conference operator. I would like to welcome everyone to today's 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 like to turn the call over to Brett Perry of Shelton Group Investor Relations. Brett, please go ahead.

Good afternoon, and welcome to Transform's quarterly business update conference call. Joining us today from Transform are Mario Rivas, Chief Executive Officer, Premit Parikh, Co-Founder, President, and Chief Operating Officer, and Cameron McCauley, 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, and they will also be posted and available as a linked PDF subsequent to today's live conference call. 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 end markets, and other areas of discussion. It's not possible for the company or management to predict all risks, nor can the company assess the potential 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 statements discussed during this call may or may not occur, and actual results could differ materially and adversely from those anticipated or implied. Any projections as to the company's future performance represent management estimates as of today, August 16, 2021. Neither the company nor any person assumes responsibility for the accuracy or completeness of the forward-looking statements. The company undertakes no obligation to publicly update these forward-looking statements for any reason after the date of this call to conform such statements to actual results or to changes in the company's expectations. For more detailed information on risks associated with the company's businesses, we refer you to the risk factors described in Transform's S-1, 10-KT, and other subsequent filings with the SEC. With that said, it's now my pleasure to turn the call over to Transform CEO, Mario Rivas, for opening remarks. Mario, please go ahead.

Thank you, Brad. And thank you, everybody, for joining us today. We look forward to the report on our continued progress during the first half of the year. Feminal for the fiscal first quarter of 2022 increased 33% sequentially to $3.2 million, driven by record product sales. operating expenses on a non-GAAP basis in the fiscal first quarter of 2022 were $4.6 million. On a non-GAAP basis, the net loss for the fiscal quarter of 2022 was $5.3 million, or 13 cents per share. Along with the strong operating performance, the company remains committed to its previously communicated ambition to uplift on NASDAQ later in the calendar year. With that target in mind, In July, we were also excited to strengthen our board with the addition of Ms. Kelly Smails as an independent director, and she comes to us with an extensive semiconductor finance background. With that, and for more details, I pass the call to Primet Parikh.