Transphorm, Inc.

Good day, and thank you for standing by. Welcome to the Transforms Third 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 will need to press star 11 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Hanover. Please go ahead.

Good afternoon, and welcome to Transform's third quarter fiscal 2023 earnings conference call. Joining us today from Transform are Mario Rivas, Chief Executive Officer, Pimit 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 prepared remarks, which management will be referencing during the conference call. These slides can be accessed through the live webcast link in the Investors section of Transform's website, where they will also be posted and available as a link to a PDF self-sequence of today's conference call. Additionally, during the course of this call, management 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's estimates as of today, February 23, 2023. Either the company or 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 Associated and Transform's most recent quarterly report on Form 10-Q and other subsequent filings with the SEC. With that said, it is now my pleasure to turn the call over to Transform CEO, Mario Rivas. Please go ahead, Mario.

Thanks, David, and welcome to everyone in today's call. Our quarterly revenue was $4.5 million compared to revenue of $3.7 million in the prior quarter and $4.6 million in the prior year. Product revenue was up 25% on a sequential basis and 9% compared to the same period in fiscal 2022. Increased total designs means for power adapters and fast chargers, including the shipment of new products and orders for two of the worldwide top five laptop manufacturers. The company's products have exceeded 100 billion hours of field operating reliability. We believe this is one of the industry's best broad power spectrum reliability ratings for gallium nitride power. It is now my pleasure to hand over the call to Preet Parikh, for a detailed review of the quarterly achievements. Go ahead, Prem.