Good day and welcome to the Arbe Robotics second quarter 2026 earnings results. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your touchtone phone. And to withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Mr. Kenny Green. Please go ahead.

Thank you. Good day to all of you and welcome to our base conference call to discuss the results of the second quarter of 2026. Before we begin, I'd like to remind all our listeners that certain information provided on this call may contain forward-looking statements, and the safe harbor statement outlined in today's earnings 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 RFA's website. Today, we are joined by Ron Marfness, RFA's CEO, Tosin Maranko, President and Co-Founder, and Karim Pinter Flomenbaum, Chief Financial Officer. Following management's formal remarks, we will open the call for the question and answer session. And with that, I'd now like to hand the call over to Ram Mathnas. Ram, please go ahead.

Thank you, Kenny. Good morning, everyone, and thank you for joining us to review Harvard's second quarter 2026 results. I am pleased with the sort of progress we made in the second quarter. Our strategy was focusing on broader markets for our regular technology with high demand and more immediate revenue potential is clearly delivering results. We grew our revenue by meeting our customers' demands for immediate solutions using our technology, and we started to see the positive impact of our reduced expenses on our bottom line. Today, I will go through the main development of the quarter. Our biggest step forward in this quarter was in the defense and homeland security market. a leading global defense and homeland security integrator selected our technology for three projects. We signed a framework agreement and as we progress we expect to add more projects over time. In a short turnaround time we shipped complete radar systems from our own production line for the immediate operational needs. Our radars are used to Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye supplies FORTERRA with high definition imaging radar built on our chipset and that radar is integrated into FORTERRA's auto-drive perception suite. It helps the vehicle recognize its surroundings, detect obstacles, and navigate unstructured, contested environments where GPS do not work. More broadly, we see further strong demands for our radar technology with multiple defense and home security channels for various applications and We have shipped out systems for further evaluation. Many of these opportunities have significant business potential. And furthermore, since our product is clearly addressing multiple urgent operational needs, we see an effort by our potential customers to reduce cycle times towards full integration and deployment in the field. Beyond defense, we also continue to make progress in other broader radar applications. SENSRAD, a T1 supplying imaging radar vehicle knowledge chipset for defense and commercial applications, announced a new collaboration with VirtuRAID. SENSRAD announced that VirtuRAID is now integrating the radar into its automated service vehicles for underground tunnel construction. We continue to supply chipsets to SENSRAD supporting its customers, Fortera, Tiani, and Watchit. Arbe is also directly engaged in other non-automotive programs at various stages of evaluation, including a number of potential applications with unmanned ground vehicles and other applications. In those applications of unmanned ground vehicles, the image coming from our high-definition imaging radar is so rich that it is possible to drive based solely on the radar output. With regard to our activities in the automotive market, Last quarter, we followed on orders from a global robotics player for our Phoenix radar systems. Phoenix scaled to give full 360 degrees sensing to support levels of autonomy. During the second quarter, we showed further progress and our radar systems were integrated into their vehicles. I am pleased to say that these vehicles have now started onboard trials. We continue to engage in active bid processes with additional robo-tactics players with very positive feedback. Turning to China. Hiren, our T1 in China, is a leading supplier in this market and offers a portfolio of radar systems built on our chipset. In December, we announced that Hiren's radar built on our chipset was selected for a level 4 program with a large Chinese automaker. During the quarter, we continued to ship chipsets to support this customer. Hiren advised us that they are now progressing towards the start of production, which is planned in the next few months. Alongside the high-end 48x48 system, Hiren is developing a second, lower spec platform based on our chipset. This platform has 24x12 channels at a lower cost point for a wider range of vehicles. These two platforms give us a direct path into the Chinese market, which is Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye Petersen Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye Petersen Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye Petersen We also continue to make steady progress with global OEMs. OEMs are actively testing advanced radar solutions with the goal to update their sensing suite to support higher level of autonomy. We feel that we are in good position as RBA is regarded as the leading ultra-high resolution radar provider for level 3 autonomy and above at a lower enough cost that will allow for proliferation of our technology through high volume programs Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye Petersen showed that our new strategy of end-market diversification is gaining traction. Some of the systems that we sold are being used by our integrator partners to compete on various projects. Any wins by them will potentially translate to significant revenue down the road. Previously, Arbe was just an automotive chipset supplier with many years between a design win and a program maturing to full production. Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye Petersen Daniel Schildt, Gianni Del Signore, Mads Rosenberg Boye Petersen We also announced steps to lower expenses and enhance operational efficiencies, and indeed, we have leveraged AI to automate many processes and lower our costs. We have reduced our cost base by about 15% for first quarter level, and we expect to see the full effect by the third quarter, where our cash burn is targeted to fall to below $7 million per quarter due to the expected lower expenses and revenue growth. We ended the quarter with around $42 million in cash on the balance sheet, and given our expected reduced quarterly runway, we believe we have a sufficient runway to fully execute on our strategy. Looking back, our first half of 2026 reflects the early stages of this transition, and we expect meaningful growth in the second half of the year into 2027. Karim will share our detailed outlook shortly. With that, I'll hand over the call to our president and co-founder, Kobi Marenko. Kobi, please go ahead.

Thank you, Ram, and good morning, everyone. As we announced, this is the last quarter we to obey for Corrine, our chief financial officer. Corrine has served in that role for close to five years. During that time, she built our finance organization, led much of our fundraising, and managed our reporting as a public company on two exchanges. On behalf of the board, the management team, and everyone at Arbe, I would like to thank Karin for all that she has done for the company and to wish her much success in the next road. Karin's last day with Arbe is today. During the transition period, I will temporarily oversee our financial functions together with the team. I am also pleased to share that Asaf Pereg will join Arbe as our incoming Chief Financial Officer Effective August 30, 2026. Asaf brings close to two decades of financial leadership experience with both Nasdaq-listed public and private technology companies in Israel and internationally. He joined us from IBEX Medical Analytics Ltd. and previously held finance role at Nano Dimension, Aquarius Engine, Become Technological Solutions and Cyberint Technologies. We look forward to welcoming him on the team. With that, let me turn the call over to Corinne to review her last financial.

Thank you, Kobi, and hello, everyone. Let me review our financial results for the second quarter of 2026 in more detail. Revenue for the second quarter of 2026 totaled $0.7 million compared to $0.3 million in Q2 2025. This was our third consecutive quarter of revenue growth. Backlog as of June 30, 2026 was $1 million. Gross loss for Q2 2026 was around break-even compared to a gross loss of $0.2 million in Q2 2025. Total operating expenses for Q2 2026 were $9.8 million down from $11.3 million in Q2 2025. The lower expenses were primarily driven by lower share-based compensation expenses, reflecting both the lower grant date fair value of equity award issued during the period and the ongoing vesting of previously granted awards, some of which have now fully vested. Increased expenses due to the unfavorable exchange rate impact were fully offset by the decrease in headcount as part of the cost reduction measures taken this quarter, which are expected to be fully reflected by next quarter. Even as we manage costs carefully, we remain committed to investing in and advancing our AI capabilities. Operating loss for the second quarter of 2026 was $9.8 million compared to an operating loss of $11.5 million in the second quarter of 2025. Adjusted EBITDA, a non-GAAP measurement which excludes expenses for non-cash share-based compensation and for non-recurring items, was a loss of $8.7 million in Q2 of 2026. Daniel Schildt, Daniel Schildt, Net loss in Q2-26 included $0.7 million of financial income compared to $1.3 million of financial income in Q2-2025. As of June 30, 2026, ARBEH held $41.9 million in cash, cash equivalents, and short-term bank deposits. Shareholders' equity was $40.5 million. Turning to our outlook. Management reaffirms the full-year 2026 outlook, which we provided in February 2026. Our VET continues to expect full-year revenue in the range of $4 million to $6 million and an adjusted EBITDA in the range of $28 million loss to $31 million loss. As I conclude nearly five years at Harvey, I wanted to express how meaningful this journey has been for me. Together, we strengthened the company's balance sheet and funded development through rounds of successful fundraising, streamlined our cost structure for greater efficiency, and built the reporting and governance infrastructure required of a public company. all by laying the groundwork of Arbez's next step towards full productization. I have great confidence in Arbez's continued success under the strong leadership of Ram and the talented team here. I would like to thank Kobi, Ram, our board, and the entire Arbez team for going through this journey together with me, which made our achievements possible, and also our investors and analysts, for the open dialogue we had over the years. I leave our building in the right direction with a strong financial position, a lower cost base, and a growing revenue trend. I'm also leaving it in very good hands and I look forward to continue following the company's progress from afar. Now, we will be happy to take your questions. Operator,

Thank you. We will now begin the question and answer session. To ask a question, you may press star then 1 on your touchtone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star then 2. And our first question for today will come from Matthew Pacquely with Canaccord Genuity. Please go ahead.

Hi, everyone. Thank you for taking my questions, and Karine, best of luck in your next role. Maybe just to start off, on the recent defense election, I believe you mentioned there's kind of three separate projects here. Could you just provide us some additional insights as to what these volumes should look like and how the partnership could expand over time?

The partnership agreement is a long-term agreement. Right now, to begin with, three specific projects were defined. The framework agreement will be extended to several applications as well. On this specific one, we were requested not to mention the exact application. I can say in general that we see on the defense sector several applications that are very relevant on radar that are not necessarily specific to this agreement. When we talk about defense applications, for example, the unmanned ground vehicles and mission vehicles, that's something very common. and makes a lot of sense to use an imaging radar since it has a very good perception of the surrounding and it doesn't have the disadvantages of cameras like dust, of course, night issues and weather issues. So many applications that are using radar and imaging radar for unmanned ground vehicles. This is one example of a very common use case in the defense applications. Another one would be some perimeter security. Another application that is very common in the defense sector. And there are actually several more applications that are very relevant.

Great. Appreciate the color. And maybe just on the robo taxi front, similarly, it seems like you're making some nice progress here. You know, if you can perhaps just dive into, you know, some detail around what these selection processes look like, what milestones you still need to achieve, and, you know, maybe just from a timing perspective, what we should anticipate there.

Yeah, so we have our radars right now, several vehicles equipped with our radars. This is a 360-degree view coming from our radar, and the launch of the development of the perception stack based on our radar is now beginning, and we expect to roll out So end of the year and the beginning of next year. And that's with one of the Robotaxi providers. There are more coming that are right now in earlier stages.

Great. Thank you.

Again, if you have a question, please press star, then 1. And this will conclude our question and answer session. I would like to turn the conference back over to Ram Makhnes for any closing remarks. Please go ahead.

Thank you. On behalf of the entire management team at Abe, I would like to thank you, our shareholders, for the continued interest, the long-term support for our business. I believe that Abe is now very well situated for the future, having planted the seed beyond passenger automotive, which as you saw today are beginning to sprout. Finally, I would like to thank Corinne for her hard work, leadership, and partnership over the past five years and wish her much luck in her future roles. I would also like to welcome Asaf, our new CFO, and we are all very much looking forward to working with him to bring Arbe to the next stage. And to our investors and analysts, We look forward to updating you on our progress next quarter and with that we end our call. Have a great day.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.