Arbe Robotics Ltd. (NASDAQ:ARBE) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET
Company Participants
Alexis Pascal - MS-IR
Kobi Marenko - Co-Founder & CEO
Karine Pinto-Flomenboim - CFO
Conference Call Participants
Gary Mobley - Wells Fargo
Suji Desilva - ROTH MKM
Jaime Perez - RF Lafferty
Matthew Galinko - Maxim Group
Operator
Good morning, and welcome to the Arbe Robotics Third Quarter 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Alexis Pascal of MS-IR. Please go ahead.
Unidentified Company Representative
Thank you, and thank you, everyone for joining us today. Welcome to Arbe's third 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 earnings 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, Arbe's 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 up the call for the Q&A session.
With that, I'd like to turn it over to Kobi Marenko, Arbe's CEO. Kobi, please go ahead.
Kobi Marenko
Thank you, Alexis. Good morning, everyone and thank you for joining us. I will begin by reviewing some of our recent business highlights. In the third quarter, Arbe and our Tier 1 made significant progress, several commercial production, supporting our goal to become a leader in perception radar solutions for the automotive industry.
The selection process by vehicle manufacturers involves multiple steps. During the quarter, Arbitrum One (ph) delivered B samples of radar systems based on our chipset to leading OEMs. These samples facilitate the evaluation of production functionality and mark a crucial milestone in the OEM selection process. Additionally, they enable OEM perception team to gather data for their L2+ and L3 applications within ongoing development projects using our cutting-edge technology.
Our advanced technology plays an increasingly pivotal role in enhancing the next-generation product offering of our Tier 1 partners. Tests performed on radar systems using the Arbe chipset have consistently demonstrated performance that meets or exceeds target benchmarks where affirming the superior quality of our technology. Arbe's currently engaged with four top Tier 1 companies, Magna, HiRain, Weifu and Sensrad. In Q3, all four advanced to the production of radar systems based on our chipsets and are now in the final stages of selection with prominent European, American and Asian OEMs.