Arbe Robotics Ltd. (NASDAQ:ARBE) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET

Company Participants

Miri Segal-Scharia - Chief Executive Officer, MS-IR
Kobi Marenko - Chief Executive Officer & Co-Founder
Karine Pinto-Flomenboim - Chief Financial Officer

Conference Call Participants

Joshua Buchalter - TD Cowen
Suji Desilva - ROTH Capital
Matthew Galinko - Maxim Group

Operator

Good day, and welcome to the Arbe Robotics Second Quarter 2024 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 Miri Segal, CEO of MS-IR. Please go ahead.

Miri Segal-Scharia

Thank you, operator, and everyone, for joining us today. Welcome to Arbe's Second Quarter 2024 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 applies 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 who will review the financials in more detail. Finally, we will open the call for the question-and-answer session.

With that, I'd like to turn it over to Kobi Marenko, Arbe's CEO. Kobi, please go ahead.

Kobi Marenko

Thank you, Miri. Good morning, everyone, and thank you for joining us. On this conference call, we are happy to share significant progress and market endorsement from major industry players. We've hit a major milestone by securing two key customers for the development of our imaging radar for production. We see these selections a strong endorsement of Arbe technological superiority and evidence that we are strategically positioned and on track to capture additional OEMs this year.

Let me elaborate on the two important announcements. First, one of the top 10 OEMs in the world selected Arbe's chipset for the development of its next-gen imaging radar gears for serial production. This leading OEM has confirmed that preparation for serial production will begin immediately. The decision came after a deep competitive evaluation and careful field testing of our chipset providing just how reliable and high-performing our technology is. The adoption of Arbe's technology by this major automotive OEM not only validates our innovative solutions but also opens a significant commercial opportunity.