Transphorm, Inc.

Good day, and thank you for standing by. Welcome to the Transform Second Quarter 2023 Earnings 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 the session, you need to press star 1-1 on your telephone. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jack Perkins, our call moderator. Please go ahead.

Thank you, Operator. Good afternoon and welcome to Transform's second quarter fiscal 2023 earnings conference call. Joining us today from Transform are Mario Rivas, Chief Executive Officer, Pramit 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's a slide presentation associated with today's prepared remarks. which management will be referencing during the conference call. These slides can be assessed through the live webcast linked in the investor section of the Transform website, where they will also be posted and available as a link to a PDF subsequent to today's 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 is 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 the 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's estimates as of today, November 9, 2022. 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 most recent quarterly report on Form 10-Q and other subsequent filings with the SEC. With that said, is now my pleasure to turn the call over to Transform CEO, Mario Rivas. Please go ahead, Mario.

Thanks, Jack, and welcome to everyone on today's call. Thank you for joining us. This quarter, revenue was $3.7 million, up 11% on a year-over-year basis, when excluding one-time licensing revenue in the prior year. Product revenue was up 38% compared to the same period a year ago. We improved supply from Japanepi reactors and completed the acquisition of additional MOCBD reactors. Increased shipments on previously announced Fortune 100 laptop adapter win, a top-three worldwide laptop manufacturer, and secured a new Fortune 100 laptop adapter design win. We strengthened senior operations, sales, and marketing teams with seasoned industry leaders, Secure RFIE program to innovate or transform unique bi-directional GaN technology that replaces two to four silicon devices with a single SQS GaN in applications like microinverters and motor drives. Secure the approval for the wholly foreign-owned enterprise in Shenzhen, China, to enhance the local customer support, sales, field applications, and marketing. We expanded package offerings by adding industry-standard PQFN products, which enable pin-to-pin with multiple sources. This complements our existing high-performance PQFN products, both validated to deliver superior results versus competing Gantt products. With that, it is now my pleasure to turn the call over to Premier Parikh for a more detailed overview of the quarter.