Cepton, Inc. (NASDAQ:CPTN) Q2 2023 Earnings Conference Call August 7, 2023 5:30 PM ET

Company Participants

Hull Xu - CFO

Jun Pei - Co-Founder and CEO

Mitch Hourtienne - SVP, Business Development

Conference Call Participants

Matthew Galinko - Maxim Group

Richard Shannon - Craig-Hallum

Gus Richard - Northland

Operator

Greetings, and welcome to the Q2 2023 Cepton, Inc. Business Update and Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host Hull Xu, CFO. Thank you, Hull, you may begin.

Hull Xu

Thank you, and welcome to Cepton's second quarter 2023 earnings call and business update. With me today are Jun Pei, Co-Founder and Chief Executive Officer; and Mitch Hourtienne, Senior Vice President of Business Development.

During the call, we may refer to our unaudited GAAP and non-GAAP measures in our earnings release. The non-GAAP financial measures should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. Reconciliations for non-GAAP measures are included in our earnings release.

I would like to remind everyone that comments made in this conference call may include forward-looking statements regarding the Company's expected operational and financial performance for future periods. These statements are based on the Company's current expectation and are subject to the Safe Harbor statements, relating to the forward-looking statements contained in our earnings release and the slides that accompany this call.

Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks, uncertainties or other factors, including those discussed in the earnings release or during today's call, and those described in our filings with the U.S SEC. We are not undertaking any commitment to update these statements as a result of future events except as required by law.

As a quick reminder, this call is being recorded, and you can find the earnings release and slides that accompany this call as well as a Webcast replay of this call at investors.cepton.com.

Now I'd like to turn the call over to Jun.

Jun Pei

Thank you, Hull, and good afternoon, everyone. Thank you for joining Cepton's second quarter 2023 earnings call. We will provide a business update and review our second quarter financial results with you.

Starting off, I'm proud to announce that we have delivered a new company record for the quarterly product revenue and gross margin. This quarter, we shipped the highest number of LiDAR units to both of our automotive and the smart infrastructure end customers since our inception.