Ladies and gentlemen, thank you for standing by. The conference will begin shortly. Ladies and gentlemen, thank you for standing by. Welcome to the Arbe Robotics Second Quarter 2025 Results Conference Call. All participants are present in listen-only mode. Following management's formal presentation, instructions will be given for the question- and- answer session. As a reminder, this conference is being recorded. You should have all received by now the company's press release. If you have not received it, please contact Arbe's investor relations team at EK Global Investor Relations at 1-212-378-8040 or view it in the investor section of the company's website, arbrobotics.com. I would now like to hand over the call to Mr. Ehud Helft of EK Global Investor Relations. Mr. Helft, would you like to begin, please? Yeah, thank you, operator. Good day to all of you and welcome to our conference call to discuss the results of the second quarter of 2023. Before we begin, I would like to remind our listeners that certain information provided on this call may contain forward-looking statements and the safe harbor statement outlined in today's earnings release also pertains to this call. Today, we are joined by Kobi Marenko, Arbe' Co-Founder and CEO, who will begin the call with a business update. We'll then turn the call over to Karine Pinto-Flomenboim. We'll open the call up to our listeners for the question and answer session. Before that, I'd like to turn over the call to Kobi. Thank you, Ehud. Good morning to everyone and thank you for joining us today to discuss our report and recent business developments. I will begin by reviewing some of our current business highlights. We are pleased with the strategic progress we made in the quarter. Our main target is to win bids with the large OEMs of the world, and as each month passes, we are making progress. Arbe received a strategic order for the use of its chipsets in large-scale data collection projects. These chipsets were shipped and will be deployed on fleets of more than 100 vehicles operated by leading automotive manufacturers. In general, there is a growing industry-wide recognition among OEMs that high-end imaging radar is a requirement for a safe and free driving capability. It is true that imaging radar delivers superior performance in complex and challenging conditions, filling critical perception gaps and enabling safer, more reliable autonomy. The market is moving forward, solutions based on growth, sensor fusion, signaling a departure from reliance on vision-only approaches. As a result, we are now in an imaging radar selection program with several of the world's leading OEMs. Magna and HiRain are our main tier 1 s, competing with our chips on all of those opportunities. Furthermore, our collaboration with NVIDIA is enabling us to move strongly forward with our customer engagement. Not less important is our solid progress in non-automotive applications. We are scaling up chips delivering to Sensrad as they grow their customer base and increase deployment volume across a broad range of applications. We are very pleased to say that for the first time, Sensrad is delivering radars for different applications, a growing radar applications market. This demonstrates the versatility of our technology for broader industrial and mobility markets beyond the passenger automotive market. We also announced we've signed a new comprehensive support and maintenance agreement with Sensrad, under which we will receive a recurring fee to support their 4G imaging radar program built on our advanced chips and technology. We continue to move ahead with the various bid processes with our target OEMs. Some of these have progressed and we've successfully advanced to the final stages of the process. At this point, we are no longer competing against a large group of suppliers. We are now one of the final few radar technologies remaining in this stage. While the timing of these selection processes is not under our control, we are pleased with the progress we have made in recent months, and it remains our goal to achieve four OEM bid wins within the coming years. Our initiatives are aligning with the path to OEM selection, and we anticipate that Arbe's radar technology will serve as a key enabler for 2028's passenger vehicle platform, and we expect our revenues to begin in 2027 and ramp up in 2028 as our chipsets are used in high-volume production. While 2027 may still seem some time away for us, 2027 is around the corner, and we are already preparing accordingly. Thanks to our compliance chip, we have the runway to support our program as our revenues reach the ramp-up stage. Other business highlights. HiRain Technology, our leading Tier 1 supplier in China, launched the LRR615, a long-range imaging radar system powered by our chipset. Their system offers ultra-high resolution and reliable performance in all weather and lighting conditions, presenting a cost-effective and scalable sensor that complements cameras and offers a cost-effective alternative to LiDAR, especially in China. HiRain is preparing to ramp production capacity to deliver tens of thousands of units annually. China's State Administration for Market Regulation proposed a new regulation that mandates highly advanced standard setting for all new Level 1 and Level 2 vehicle models. These requirements exceed the capabilities of the radar systems, which are currently generally available in the Chinese market. We believe Arbe's high-definition radar technology can enable OEMs to enhance ADAS performance to meet these new standards once adopted, creating a significant market opportunity for us in China, even in 2026. In closing, Arbe is very well positioned to take advantage of the industry transition to high-resolution radar. The progress we've made over the past year across OEM partnerships, Tier 1 integration, and cross-sector adoption demonstrates the maturity of our execution and the strength of our ecosystem. We have a number of catalysts coming up over the next year as we expect that the OEMs we are targeting to conclude the radar selection process for the 2028 models. Today, by a solid financial foundation, we are positioned to lead the industry in the adoption of ultra-high-resolution radar, and we remain focused on unlocking long-term value for our shareholders. We expect our technology to be a key enabler in high-volume 2028 passenger vehicle platforms with revenue growth beginning in 2027. We look forward to sharing more as we continue to move forward. Now, I'd like to turn it over to our CFO, Karine, to go over the financials. Thank you, Kobi, and hello, everyone. Let me review our financial results for the second quarter of 2025 in more detail. Revenue for the second quarter of 2025 totals $0.3 million compared to $0.4 million in Q2 of 2024. As of June 30th, 2025, that works to $0.5 million. Gross profit for Q2 2025 was - $0.2 million compared to -$0.04 million, reflecting the impact of fixed cost components given reduced revenue year- over- year and revenue mixed costs. Turning to operating expenses, total operating expenses for Q2 2025 were $11.3 million, down from $11.6 million in Q2 2024. The decrease in operating expenses was primarily attributable to lower share-based compensation expenses resulting from the full vesting of prior grants and to a reduced volume of new grants. This decrease was partially offset by increased bonus liability grants accrued, labor costs, and unfavorable foreign exchange effects. Operating loss for the second quarter of 2025 was $11.5 million compared to $11.6 million loss in the second quarter of 2024. Adjusted EBITDA, a non-GAAP measurement which excludes expenses for non-cash share-based compensation and for non-recurring items, was a loss of $8.9 million in Q2 of 2025 compared to a loss of $7.5 million in the second quarter of 2024. We believe that this non-GAAP measurement is important in management's evaluation of our use of cash and planning and evaluating our cash requirements for the coming periods. Net loss in the second quarter of 2025 was $10.2 million compared to a net loss of $11.7 million in the second quarter of 2024. As of June 30, 2025, Arbe held $26.3 million in cash and cash equivalents and short-term bank deposits, as well as $35.7 million in long-term bank deposits. Turning to our outlook, we would like to reiterate what we previously said. Arbe's leading radar technology remains a top priority for key decision-makers in the automotive industry. While broader economic shifts have led to delays in automakers' rollout of advanced driver-assist systems, decision timelines have been extended. Arbe continues to engage closely with industry leaders, advancing through our SKU status and strengthening its position for adoption. We continue with our goal to pursue forward-looking dynamics with automakers in the coming year. Arbe maintains its overall financial expectations for 2025. We expect annual revenue to be weighted toward the end of the year in the range of $2 million- $5 million. Continued expectations for adjusted EBITDA for 2025 to be in the range of $29 million loss and $35 million loss. Now, we will be happy to take your questions. Operator? Thank you. Ladies and gentlemen, at this time, we will begin the question and answer session. If you have a question, please press star one. If you wish to cancel your request, please press star two. If you are using speaker equipment, kindly lift your hands up before pressing the numbers. Please stand by while we poll for your questions. The first question is from George Gianarikas. Please go ahead. Hi, everyone. Thank you for taking my questions. I'd like to ask, of course, about the four design wins that you expect in the coming year. Curious as to how that number has changed at all over the last few months since we last spoke and what the competitive set looks like. It sounds like you feel like that has tightened a little bit, and if you can share any details around how you feel that that set has changed as well. Thank you. Yeah, so I think that overall, the amount of OEMs that we are working towards with them towards winning didn't change. What really changed is the environment and the understanding of every OEM that's basically starting to develop a real, let's call it, Level 3, hands-free eyes-off driving, that they understand this current imaging radar, low-end imaging radar, cannot solve the problem. The multi-high level of channels radar that has at least more than 1,000 channels, which basically is our chipset corpus and the chipset of the mobilizer corpus, are the only candidates that can really solve the problem for Level 3. Basically, what we saw is that even in programs that they were considering to take an off-the-shelf imaging radar as an option, they decided to focus and narrow the competition to this, I would say, two hallways between the two companies. The only two companies today that have a real imaging radar, high-end imaging radar that can solve the problem for Level 3, as I mentioned, is both. The other thing that we are seeing is that when OEMs begin the data collection with our radar, so with Magna's radar based on our chipset or with HiRain's radar based on our chipset, they see that for a bit of a lower-end application, what is called Level 2+, Level 2++, which is only hands-free driving, imaging radar can actually solve the problem. They are looking to expand the selection also to those kinds of applications. I think overall, I don't see today a customer in the market that will say that high-end imaging radar is not a must for hands-free eyes-off application. The fact is there is a very few amounts of competitors in the market. I think we start in a very good position to be leading in this market. Is it possible for one OEM to pick multiple vendors for their imaging radar? I think that first of all, the data collection, because we are today in a world of full AI stack, you need to have a data collection. In order to have an effective data collection, we are talking about millions, not even millions, millions of kilometers of driving, even miles, not just kilometers. You need 10 or even 100 cars driving for a year to collect the data and to train the algorithms. To go with two radars on the same application makes no sense. It's possible to select a different radar for the L3 stack and a different radar for L2++ stack. I don't think an OEM selects two radars for L3. Got it. Maybe this is a final follow-up. You mentioned in your release a potential for non-automotive growth. You list a couple of applications, including defense sector and smart infrastructure. Can you kind of expand upon that a little bit if possible? What other non-automotive applications are you seeing potential traction with over the next few years? Thank you. Yeah. First of all, defense, I think, is a growing sector in the last two or three years. Of course, it comes from the defense side of it, from detection, from border protection, to autonomous trucks that move the supply to the troop or so on. Detection of drones that are attacking and so on. I think there is a strong demand on the defense side for a low-price radar. It's not the monsters of, let's say, the big industries are building today, radars that cost millions of dollars. There is a need for radar in $1,000, $2,000, $3,000. Of course, it's not in the volume of automotive, but the margins are better. Small infrastructure, as you mentioned, is good. There are a few other verticals that we already see the traction that we cannot yet announce. We believe that we will have, or also we will be able to announce things that are growing in September or October, after the summer vacation. We feel that the non-automotive market is growing right now better than we expected. We will be able to see their nice revenue shorter than in automotive. Of course, it's not in the volume of automotive, but still we see it now as a strategic leg to the company. Thank you. If there are any additional questions, please press star one. If you wish to cancel your request, please press star two. Please stand by while we poll for more questions. This concludes the question- and- answer session. Before I ask Mr. Kobi Marenko to go ahead with his closing statement, I would like to remind participants that a replay of this call will be available by tomorrow on Arbe's website, arbrobotics.com. Mr. Marenko, would you like to make your concluding statement? Yeah. On behalf of the management of Arbe, I would like to thank you, our shareholders, for your continued interest and long-term support of our business. To our employees and partners, your continued dedication is deeply appreciated. In the coming months, we will be meeting with investors. You got cut off in the last sentence. Kobi? To contact us at investors@arberobotics.com to schedule a meeting. With that, we end our call. Have a good day. Thank you. This concludes Arbe Robotics' Second Quarter 2025 Results Conference Call. Thank you for your participation. You may go ahead.