Arbe Robotics Ltd. (NASDAQ:ARBE) Q2 2023 Results Conference Call August 9, 2023 8:30 AM ET
Company Participants
Miri Segal - Chief Executive Officer of MS-IR
Kobi Marenko - Co-Founder and Chief Executive Officer
Karine Pinto-Flomenboim - Chief Financial Officer
Conference Call Participants
Gary Mobley - Wells Fargo
Jaime Perez - RF Lafferty
Matthew Galinko - Maxim Group
Suji Desilva - ROTH Capital
Operator
Good day, and welcome to the Arbe Robotics Second Quarter 2023 Earnings Results Conference Call. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Miri Segal of MS-IR. Please go ahead.
Miri Segal
Thank you, operator and everyone, for joining us today. Welcome to Arbe's Second Quarter 2023 Financial Results Conference Call.
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 press release also pertains to this call. If you have not received a copy of the release, please view it in the Investor Relations section of the company's website.
Today, we are joined by Kobi Marenko our base Co-Founder and CEO, who will begin the call with a business update. Then we will turn the call over to Karine Pinto-Flomenboim, CFO, who will review the financials. Finally, we will open the call up for the question-and-answer session.
With that, I'd like to turn the call over to Kobi Marenko. Kobi, please go ahead.
Kobi Marenko
Thank you, Miri. Good morning, everyone, and thank you for joining us. I will begin by reviewing some of our recent business highlights, then Karine Pinto-Flomenboim, our best CFO, will review the financials in more detail and share our outlook. Finally, we will open the call for the question-and-answer session. We are pleased with the progress we have made in the second quarter.
Our product development is on track and we are poised to achieve a production-ready chipset by the end of this year. Our collaboration with Tier 1 is rapidly evolving, reinforcing our position in the global auto market. Notably, our cutting edge technology plays an increasingly important role in enhancing our customers' next-generation product offering. Weifu high-technology group, a key Tier 1 we've been working with since 2019, placed an $11.6 million preliminary order for radar chipset which will enable our bank to meet we foods projects and sales demand for 2024 for customers across China.