- Earnings call transcript Q3 2022

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Unidentified Company Representative

Thank you. Good morning, everyone, and thank you for joining us. Please take a minute to review the forward-looking statement. In the third quarter, we made significant progress with our Tier 1 partners.

In fact, we are excited to share recent news.

journey mass which order of officially step our a the hiring a received production of year, mass next marks best have production from preliminary for next phase. We the into the beginning I will shortly. go in detail this over more like accelerating with you would our Arbe's progress. understanding a on focusing share strategy our and of to Tier we deeper of Today, ecosystem X is

world automotive choose AB. of chipsets extensive developers patented improve imaging launch entire the radar you commercially plans. harvest as and of to our available of and As X+ realistic the and system the ramp-up. results industry. adapt with their of on delays of performance. own X across I in aware, chipset safety The well automotive the heavy technology our industry research lifting we of years perspective push integration radar to future automotive are The are radar conditions, world. and safety some making across tech the these system with costs, some to focus a combination do frames among Veoneer, are for industry, X the autonomous the of you Tier advanced before patented perception vision in in X will development After of made are reducing the we XX Tier X's market partner many the waveguide OEMs. will the in in combination believe end radar prepared of safety Alves we driving, boundaries believe unmatched To conditions partners customer From provide for X Veoneer's radar Level imaging of beginning, that to to a Level decade. a which resilience causing we technology breakthrough changing, sure be time market globe, chips as won't to with the innovative full suppliers the while longer of that our decision In keeping Tier share assistance we driver leader the want

honored are with solution, safety ensuring and the higher radar-based to by provide level have intend who Veoneer industry We revolutionary X to unmatched automotive selected plus been autonomy.

what added hear about President say Veoneer's the Dan Chris the Product the Van radar, in value Let's Area imaging base our the Elzen, from of of chipset. to and Executive the role expectations industry Radar had Vice

Chris Van Dan Elzen

the to Arbe. hardware And the up main start-ups unique to are XX of the close Mercedes new arm Chris at of a scouting the in were is points. for space restraint that the tech We imaging segment first corners with name control new year and Dan of back as the the this veneers XXXX safety rear founded Veoneer I'm innovations get Autoliv, the -- product spin-off Area as supplier chose early this determining to a Product having of do the radars. and safety every systems automotive and space. the launch is President looking, cruise bringing if into of down. and built from The Tier like chipset in toll a Van of the X or after world line a have in My -- customers the of development. multiple years through world the have is at of active technology, and XXXXs. occupied the dates segments Executive companies of RBA around integrator front we were a power this radar participate and in Radar couple and capability trying in adaptive XXXX Elzen, systems one We radar X we strength years, leader that's market we approaches it's to Vice radar to because around to XX looking the portion of in been the technologies control safety. And multiple is here world radar have from One in looking researching roof, looking being segment to chipset past growing use at this and cases automotive

unique around to to of being fits the Veoneer, our really able their X bringing addition model that to business Tier the a value OEM. chips and a within being business that, use radar model In create for and

an radar market, the to of X implementing per just a as case radars meet the base X space. In Customers program. Star we this in new car see imaging expanding X terms to today are --

numerous. Going customers will be of distances of with The able the when accuracies. already having that asking leading we cruise the great great do looking designs information the of our for And more to vehicle control number expand market. a more forward, this to location cases that of and portion seeing use that button, to our to radars turn need about this for We're you meet segment world. imaging Arbe at and it's quotation autonomy an are fantastic just automotive. this, signed push levels up opportunity. the see space look has across is the with Arbe of sensing we into one together request And around our or growing forward into for this agreement board. to time one It's new not

Unidentified Company Representative

the the passing year statement, and separate end now added, million XX to produced, overall is a see million In we radars the Veoneer decade. per growing $XXX of market Chris by roughly

with imaging Valeo, radar this advanced the rapidly with our together player best also overall for market we journey selected of the segment it, its is radar are ARB. systems. ADAS looking the chipset Tier has grows grows part important leading High-definition and to the of forward radar X world's As an market ADAS.

of mobility Valero the is at are the heart across in of very that We in with such OEMs. the [ph], of sustainable few are Line globe. excited imaging the for leader out. opportunity imaging radar adding is about Mandry the Vice to areas and shares chipset sensor Sensor thoughts transformation the be a important Valero contributes highly house offering President partnered the the of radars and comprehensive a Arbe’s its solution stands suit, LIDAR Ranging industry market, to leader for Product with to which technological automotive

Unidentified Company Representative

experience. providing The supplier for My The operate product has billion centers the -- system. are we're participants. more for has name in shipped corner LIDAR. camera, XXX in was sensors with industry, as depending global is near fulfill Valeo that product We ultrasonic that tomorrow. lighting ADAS I'm XXXX, in almost in mega date the is ago. Vice the today employees Mali in play we greater value the are I'm requirements with material and of are owned ADAS, a per of car the field of €XX.X there sensors, provide to XX using. increasing. -- Valero than are globally is provide These operates that side everywhere the Martin required, line work operating sensors radar sensors, demand role in of to fund other working electrification, significantly automotive technology. Arbor as from and the well acceleration, And Valeo customers. radars President Mandy to their not in important requirements years [ph]. The innovative in providing Visen [indiscernible] and XX sales fulfilling automotive sensors of you a we million needs the years a trend specific innovation an [ph]. as a functionalities but centers believe Valeo that together Within and has to on are we automization chipset sense customers, and different that radars number is in our achieving XX,XXX our like radars customers existing of countries. has our XX sensors system and

to XX% Heidecipset the is Valeo to global to with Arbe of market corn by achieve radar in be ambition combination XXXX and X market HD partnership success XXXX a can provider. great market number in position in uniquely share radar achieve in the and together. Our

Unidentified Company Representative

foundation has vehicle known is is the leading a and X an great the vehicle honored largest we world for It Tier market the in is the China solution. well way to future. chipset for provide autonomous and Valero that the partner, are radar

great compliance manufacturing mass Another trucks, production, and radar providing collaboration and technology key Tier within the Group radar focused market make automotive radar and the market. is safety achievements customized critical best a X autonomous system vehicles, OEMs and WF for solution China. is traffic applications. for developing commercial relationship to and us imaging helping with has our Wife plant on vehicles in This OEM based requirements on

solution. Yufeng Zhu and and [ph], value the this honored the present to our We of of are President outlook the Mr. Group, joint on market describing pleased

Unidentified Company Representative

the of in XXXX. is [indiscernible] President I'm solid

We Tier over while group X public X nearly and world. also JVs XX available X We have employees China China subsidiaries, public are top listed stock companies now a the XXX the famous parts top with profitable market, in the auto is in supplier auto member industry Chinese market. X,XXX in company. all companies a The well

leaders at in auto reliable an waste of in research, leadership position to and of instead segments, Gifu industrial foundation, We XX% Telenet will power believe in of with we sold leader industry at products. the year, receiving X and by the with intelligence assume billion XX our enable of The statement, to a Relating business flexible in noticed market applications XX% unparallel equipped will with to leader and Almost group has system, we product XX% which and topical we next up others, our [indiscernible] X, a China. that to future. competitive the advanced were venture foods ABI regional lot solution of as solutions. in coming been advanced vehicles imaging we of we cooperation imaging we our and chipset, market strategies. X passenger We build leader XX% here commercial grade major leaders, That's one to price. -- CI the and cities. providers and continuously electrification, last figures -- designed new to solution manufacturing XXXX. work lay there need providing for why technology relationship well most the we the with be XX Our are with innovation and of petro-channel radar If there President new to our TWD competitive business this the will provide attendance after the need to solution of; vehicles, unparalleled safety X as the be Avis leading transmitting being beginning vehicles estimate in commercial -- we that customized will bidding imaging with a has for next our share one will believe will energy, XX to reached hiring revenue hydrogen XX digital food I is a a today, will last supplier. used of leveling vehicles vehicles channels, partner A) which forming use using mid has of equipment the is next-generation Chinese thousands introduce believe which performance leaders leader. groundbreaking of have deliver market. technologies Tier become From X.XX the The generation upgrading. putting level We chain ADAS and leading a Chinese key adhering choose

Arbe’s for preliminary a of marked QX announced As Resha In and risk by biggest the XXXX, mentioned Port high placed due of I production selected has on This was standard trucks order because commercial XXXX collision [ph] significant Arbe’s phase. vehicles. chipset is size associated the have record chipset. their mass based need until safety beginning radars for of in for which that advanced perception provide to the we QX, sensor highest hiring with hiring of of the XXX,XXX province the require end an announcement does Shandong the to and solution earlier, the

it it year. and that announced next major autonomous undertaking reported OEMs projected we Hiring that reach it with and mass production will projects our radar in driving has QX, solution, As is

X and to customer with broadens choosing partner Tier each for are our Tier every for working connection thank -- our partners all past to and Our hard market. trusting our wins. outreach and X secure and We accelerates you of

an Link our mentioned high-resolution market radar. affordable [indiscernible] we quarter, As XXX at Linx is RADAR need degrees significant first for industry's the long-range addresses a sensing price. last

position. that quarter, are the for confident our Year market During Development the our Linx Hardware this award third we and we of -- the enhance won Award best technology, market this will as view recognition AutoSense strong in

As the we to relationships global proactively will will that believe ADAS success. prepared the for in Tier adjusting we believe uncertainties. Most be focus to and our quarter, on strategy, the we and are right look to fourth importantly, any drive changes market, safety X we are prove with and our we

Now, it over our financials. I'd the Karine, like to to over go turn CFO, to

Karine Pinto-Flomenboim

[ph], Kobi hello, and you, everyone. Thank

progress XXXX Let include compared quarter revenue as more order. me the The XX.X% XX.X% preliminary quarter primarily was production. unit mix and in third period of to compared gross the the the margin of XX, review margin in million recent our XXXX to increase same September of in economy in cost lower financial third as third related was revenue we XXXX. scale, of results in higher per not detail. in was million. toward QX Gross $X.X for Total $X.X quarter XXXX. to does million Backlog was the $X.X XXXX, This in

we income offset research In a a extent, the XXXX, lesser QX and operating of income included publicly million, The expenses, by partially million, $X $X.X $XX.X on of interest of expenses. expenses. reported share-based associated from by of and in noncash cost primarily loss are from million labor expenses. the financial the rate loss expenses quarter third favorable XXXX, XXXX -- to in in a third was $X quarter Moving Net financial million increase with increase expenses. financial traded quarter deposits expense partially expense an being a by compensation was exchange of $X.X in driven resulted total increase corporation, million XXXX. to development of third which compared QX decrease $XX.X million included net revaluation, operating in and a which to of warrant revaluation XXXX material offset

items, of of $X compensation excludes a non-GAAP $X.X adjusted share-based million loss measurement, and in was for third loss the to noncash Looking EBITDA of which nonrecurring in XXXX, at QX million a XXXX. compared of quarter expenses for a

Moving to balance our sheet.

September remain stage, in EBITDA cash of our $X Arbe to respect With million on of reduction, the sales based in quarters. million we range is like expected no in are and to guidance changes. to revenue XXXX, expected this $X XX, our million forecast debt. million. be loss As is recent $XX.X range update Revenue the sample mainly based had cash between Despite At market million with equivalents for XXXX, would can of that adjusted our shift loss. on revenue $XX this to $XX to to

have certain and support timeline costs As that X the We our Tier market Kobi with to said, to measures our adjusting sheet strong structure conditions we our adjust changes, will are reducing partners. adjusted production, balance and actively focus technologies of our progress taking keeping ADAS believe until stabilized. market on cost

an [ph] smart Filo adviser Porsche light executive a previously Directors. chat Now Board Khislavsky markets. with the CEO. changing of us and for please of on join [ph], mobility automotive technology strategies is Digital of served automotive He and member market its Filo as in conditions our founded on of industry state the in the a the focused

Mobility the and Porsche, as with and Before Gartner. have founded we're at us. [ph] Vice Filo of practice served thrilled Automotive President to Filo, you Smart

Okay.

automotive a thank the Filo state hearing is [ph] it industry? you today this impacting of We're joining the changes. So industry. for economic the about How for about conversation lot and us

Unidentified Company Representative

they're still are there's still industry. They industry Thanks would And happened have interesting nothing highly say in a option the launching industry. demand good most it's right very Why? in for operating from they're years. for having auto pent-up the an Because in a part, the are There's of is I me, products goes that now, X and new. attractive their first that They high, last positive that that actually the cycles. time automotive meaning typically, companies pretty of the selling. for margins the over money all, always the most And make automotive lot pandemic mode. industry still

the consumers, desirable again. cars all So industry that's automotive are news highly and for for good

regards do Of including there economic to perspective, particular cetera. vehicle the And consumer of concern inflation, course, is the course, which which And car sentiment new facing years, up, that even evolve in a people clear is bit we're of little values, see And clouding which consumer more everywhere, months. will time, at a to vehicle course, causing actually couple car, of used interest from a the trade about to the of to expensive buy challenges rates that maybe how in go et with the same on industry. next we soften it it's in of to a makes in horizon, the demand little a couple -- it a bit. used get are most automotive beginning to a isn't alone

on some clouds the think horizon, the are is pretty I auto-industry there but good So overall, in still shape.

Unidentified Company Representative

is And what from on vehicles ADAS status the industry, hand. autonomous and the NAND of in this other the from

the are companies hearing [ph] versus the up. price [ph] shutting ErgoAI or like and went status that autonomous public, down. today think the other went driving? From the of companies based automotive Robotaxi mobile like we about ADAS, mainly share do are What on hand, ADAS full about you So

Unidentified Company Representative

not technology, of an really time there's has that's a as a the a this. for activities there will those it They Gartner typically in cycle. And well market terms consolidation cycle. call company be the And in term R&D that industry. a through maturity can surprising as to happening I little question, cycles mean hype to consolidation actually. bit the of what's whole I And technology goes this light in And me, a hope thing. industry. shed a a Because this important new is Every

will initial enlightenment. of And the other that's productivity, extreme, slope eventually you followed becomes by technology real that the the provides that to have overinflated then go of the You expectations have you [indiscernible] called a plateau and have be trigger, mature, where value. technology an then

out. the latter autonomous now but So an combination. at follows of I areas, driverless means with then what's between even ADAS ADAS ADAS be technologies and that it's think a overinflated to to made having time line. self-driving a these had these things it towards lot there's point. highly autonomous It's that all to as of long progressing But And some to something goal lead the of people right distinction I takes self-driving the happening complicated. figure we which vehicles, expectations. mean of both of vehicles are vehicle merging regards will It's industry value into already And these cars, important of might to to that forward. eventually societies. these there be both areas a presented will consumers, that important going to be it's the differentiate automotive to really between

Unidentified Company Representative

So on driving the ADAS down Gartner and where side hype today. cycle the the of put the heel you would Autonomous plate the

Unidentified Company Representative

Definitely. I this now. right of vehicles autonomous the see at bottom that are trough

ADAS technologies industry technology reliability deal. the and actually have really a the right? the will increasingly advanced were positive this particular much point a I in see trough value provide years, the everybody There doing We where again, they can better a a provide that will succeed. sensor positive to and big that's way, functionality applications And already ADAS use X the They are activities matured expected. progressed radar anticipate quickly, value industry. thing way more too that I consumers. price are same that to sensor This not today. and this and technology entering had And consumers, being in in happen. to many to to next ADAS And over were technologies come like is point capability imaging they to relevant way. technologies,

make in the well end that of from X tomorrow. real being technology cars, that value pursuing that technology good more single we're on And capabilities that architectures this. electronic expecting of ADAS also cars industry really do think there's so presents is the automotive by this. bots that those to at have the every some the benefit experience in I But have meantime, the form especially an and single going It's there. be take definitely the delivery by meaning in progressing, that's as decade, least in technology was vehicles, side, will their architectures believe technology will it also especially maybe Because vehicle you Why? So And on it in years believe for as the decade, even be technologies also will every and technology provide the by because do to anticipate commercial this important because I side, working something I there's the XXXX, to much able day an begin now, new industry. self-driving be see on not be it we'll by decade, in meaning highways consumers all but will of end the with. basic be we're car, will and And that longer. value more have are maturing XXXX, today will a the least vehicles forward. of I overinflated understand. this car. or to going is to that are technology, to every to those and moment. real as Self-driving there expectation launched middle and the at democratized, new No is will that this, that opportunity question include actually maybe definitely automotive more actually on this technology, trucking real that that this meaning easier had. about the people way and much occasionally upsell self-driving experience driverless that since ADAS

look then market it but from so deal is even would a pretty way. it a It innovation to from mistake a an big with at be self-driving would be a ADAS negative mistake same bucket perspective. throw and in this together a vehicles the more in So and perspective,

Unidentified Company Representative

for [ph], for Filo everybody, you, and perspective, you, Thank us. thank this hearing

Now, we questions. take will be happy your to

Operator

from Cowen. call is here first from We'll with take us. Josh the Josh

Joshua Buchalter

importantly, given through outlook some projections what's perspective changed that let's your walk to the the months environment? the guess the had long-term previously I presentation. forward for, do feel last the down? And over the changing given you materially middle of start, say, of me the the guide can most decade for driving few you and how from you about Thanks revenue

Unidentified Company Representative

we orders samples into some of see our of we preliminary between now the is quarters. So looking for what that when from is shifting are customers QX, changed the a

So based you contracts production early of the revenues to phase, should of over that. QX that from say those 'XX. we really civil early the production come happen will full This in were western The on know, course, winning QX we by of based our And as and can see the 'XX winnings probably on on The is world. production. in that revenues production announcement of next second of our the will 'XX. contribute production expected them to is is and our 'XX, starting China China, our end 'XX checkbox with outside hiring, full revenues was that and the something plan not revenues half in and China and -- on

Joshua Buchalter

Got it.

you the maybe the some right year. more like you the slipping expect get quarter it there. So September you of when time previously think I out sounds would still frame to to sort communicated a of frame time Is was that some March had proposals clarity had second into on

Unidentified Company Representative

the most in shifted saw selection we What their yes. second, selection. and and of OEMs their quarter is the that a delayed quarter last bit First

to that year, replacement the and current QX with decided today to next second in radar radars to them year of model but QX half next ’XX. to the of some have they majority the reselect, low-end but the meaningful, the to not reevaluate skip of moved them selection of and the of stay Some

Joshua Buchalter

came you of material win? an would I question. that then contributing how is then that final And opportunities start of how we And revenue? expect me Veoneer, guess, to that can expansion the And to my walk Okay. through about? when then

Unidentified Company Representative

Yes.

So the market. Veoneer is all, first players radar the of one largest of in

end the in I player XXX third market, by reach shift. million current of the today ran year the to rates selling decade future, million and and imaging a in the -- radars shifting of rate XX expecting the major of think this to the from

as first their control customers. still So see one were to Daimler Veoneer They introduce based main player. best radar adaptive on for to it's Mercedes, ADAS cruise us, the we to of a company and a

a definitely next-generation believe, our is the will us. we where major fact win they a go win see radar So on that basing The by they entire are 'XX. I early of as -- end to Veoneer major the suit for production, and their chipsets 'XX,

So it's expectations. with line our in

So need to will supply production we in of course, chips before with mode. be they will full them

So Western is second plan timetable original like our is timetable half of with with -- like our a current line 'XX of as the market the well for in their as low.

Operator

Thank you, Josh.

Suji the call ROTH. we'll Now turn from to Suji.

Suji Desilva

or will a like? be question for the progression XX'XX specifically relatively had through it a Iran. was that On here. forecast back-end more I -- progress about I is curious the unit you linear here, gave

Unidentified Company Representative

stated. It It it's really it's linear. towards back-end -- will we go the we back will will but as But as end strong. be it go be not progress loaded, and starting

Suji Desilva

out put you this And Fantastic. great. forecast That's there.

to the not there you're automotive and potential a customers is -- but You like it opportunity? with, on? number trucking range upside given later ports, then the with How should we this more think as seems high have just about working you've that

Unidentified Company Representative

I definitely, those that with frame them hard very already really supporting think that 'XX, make to and the they on in 'XX, we And automaker But it's definitely, we believe just trying beginning. that the support to upside with them. customers. are is be that their are in I line want achieve the by an working for number. And them a it's for opportunity. will 'XX, end they time It be 'XX, production are might good sure to of there XXXX,

this numbers that time. So on assuming will 'XX be

'XX, see the hiring. our will partners we And better one Chinese of in market. just think they much are even from I in

Suji Desilva

some strong gross elements in onetime margin? there to opportunity the ongoing that? Were -- the the And margin then for maybe gross what's And quarter. in

Unidentified Company Representative

So that I it's mainly in and currently as think, as we valuations. revenue revenues we stated, yes, early mix, onetime said,

when -- really in predictive margin of go they're margin-wise fairly production. mass So and favorable margin still behind we they're XX% the production, not the further, we're in highly

I the that's think so not [ph]. XX%, about margin And

Operator

you, be some Fargo. Gary, you, us Gary Suji. hear for from Thank will reason. joining We cannot

Gary Mobley

us hoping Well, hello, you from in to day give when can where their partners comes that everyone. that volumes. ramp on an ability maybe commercial-related your stand update with support I was your you foundry

Unidentified Company Representative

Great.

already I'm fab the actually, -- visit So working of to there. entire have see to our and facility, are the and going We this full chips the stages week it's in qualification. final testing facility the

testing to And full the to that of time all they to the with the test on will of needed. needed sure able team, reach to the make facilities GLOBALFOUNDRIES is production So order team capacity is is all chips together and that equipment improving be test the that already of in the our there.

the we side capacity for the itself, current needed secured of is our customers. the On that fab

us reasoning them or give make got orders the to ones sure that purchase closely we the to and 'XX, from customers 'XX, for this purchase their for So our 'XX. get hiring the other 'XX, are they to this capacity from order preliminary also working purchase with

the So be we for us. able to will sure capacity that make

Gary Mobley

Cove may to mitigation seem thoughts would exist export 'XX, there specifically base in sort long restrictions and what the And know fiscal that whatnot, I these your of helpful. of to from outlook your for U.S. sort extent year in forecast long-term and that. any term Appreciate of China some wanted customer my to 'XX be that interruptions in and figure follow-up, or guess, geopolitics be, I your

Unidentified Company Representative

chips right this is won't their that radar. we to company, regarding limitations first now, We right non-American able technologies we not a I of are TI on of for their case. Intel be problems. think understand are U.S. will Israeli it's and there's have the China, Chinese selling And be computers good supporting on customers their believe to sell export hiring limitations now, no company, that there as that Chinese are all, cars that exporting. the customers chips will long producing facilities they as their or as for an to Also, has sell able to where outside chips that So

China. will I to go So of that not revenues believe directly all this

go plan where have. will the to it them So U.S. they it planet in might -- or part in of Europe

to as 'XX mentioned, on on you plan on and and 'XX 'XX, our China. 'XX nonautomotive was Regarding base and

side, more plan. in or our we with are On we China less the see that line

numbers But On non-pure you term. has those story entire impact. in 'XX, not part customers also see in they a for they are not short the now longer influence that the robotaxi of the we bit are don't customers like on robots this exact that This delivery since we like there. for see larger automotive, might a world, our quarters. Western know revenues automotive the between shift the 'XX. still We like give 'XX, and a definitely that because are major living all see term, of we our a wasn't the delays And focus those -- trucks a of in

So we what for with them the still expectations to their need is weeks see 'XX. in coming

QX be earnings. we will able numbers with of our only the 'XX So with to get exact

Gary Mobley

both. you, Thank

Operator

Gary. you, Thank

Matt? us. join Now Maxim Matt will from

Matthew Galinko

Okay.

-- little wanted I your covered costs a the to So bit on of -- environment. in current touch down taking taking you

you any opportunity go pairing further towards So can color saw that just it And where on this just pay? Is you yes, into in terms to engagements ADAS? little you're down line? a maybe of those bit

Unidentified Company Representative

Yes.

So since ADAS. main was focus on our beginning, the

we evolution not that thought So be to it's always an and going a revolution.

X, Level ramping the in Level And X. start end in Level Level and decade. X, the Level will plus, technologies X parallel, X will then by of that the believe start up we So the

with is and XX%, that coming. are this why ADAS, are XX% X traditional revenues regular focus, we is the working on the main believe we of our So where Tier

player also announced Auto-X goes And Of market few as remain Chinese by, one time the players the because fewest the ago. a the in Otis largest in they we shut of win many market. months are other today robotaxis down. course, this

as way to are and So technology time them our by, order see this terms also supporting right that autonomous take Level than in the that we has track a -- the goes the because as we to go definitely longer our from to revenues, And will expected. and But strategy ADAS the beginning the strategy show X. in really main focus. robotaxi long was curator is well of full

Matthew Galinko

costs? what then, like -- expenses And the QX? are look talk extent as XXXX? or pair I mean are you where follow-up specifically, guess does I opportunities for move Or Okay. could about you you to into how we to finding early that a as

Unidentified Company Representative

to the we're contractors ability, sure time several order are very keep -- deeply line of every now the in have runoff much expenses if But to is look expenses from both 'XX. steps than across to we we So a into stable enough more in needed, future. breakeven expenses. that aspect structure, going cost also in and at then XX looking to securing we also lower sure reduced be in And other in our but long process doing again, headcount a to and as ensure well will efficiently other order our towards capital we're the structure. optimize our to -- in as we're our credit order company our make make working of general, directly production. cost our the And We in not

we sure make purchase our we our course, revenues cash without even and our the of to now. And more revenues to and. from cost should with than any for So, years be sufficient initial were revenues run expected order, that have we good X optimized

Matthew Galinko

me. question Final from

was restructured quarter you that about, it think I talked team. engineering last your we

X that run? so little how out the think that lower Is And inflow it that I costs has Did change? had bit just near to you far? teams operating in differently. maybe an to more worked a contribute structure

Unidentified Company Representative

from fully will into the focus have well. production of end, radar our And operating. on to it on have the to their customers. think radar with take support far side telecom to I great. and because X very side this And we silicon today, so the different our improved was customers the focus. actually, It ability this other And

helps the So focus. with us dramatically it

reasoning of to our cost. was expense usually is bit the byproduct also an this a cost at cost, also some but our savings, which work, focus take it ability is ability outsourced, that beginning in improved the it's the terms help the also have -- was to in-house -- and we the In reduce structure. we Also,

Operator

you. Thank

Jamie from hear you. you RF have Jamie, Jamie, hear [ph]. cannot us? we can we Now

Jaime Perez

little took a I of delay. bit think it

Sorry have for don't phone so the good I Travis, only. I'm I connection. IT mean a

but Because to tranches? you the will be it's What be is orders going not I order to lumpy. into one the going it are backlog? multiple be about I linear, -- to the just going mentioned be know through backlog? Are backlog? linear you you mean, booking you it So to be booking how be significant. -- going large Or going to Is --

Unidentified Company Representative

be on for it But from will customer, a we we forecast based their customers OEMs. split It months trenched the from get the PO the on course, what X of get ahead. baton -- also

that in So release I as as the the think does I the press message preliminary hiring mentioned include that as grow. that's mentioned, the And will not our current backlog well. in order PR backlog

Jaime Perez

Right.

and Veoneer. one Western foothold Okay. on to And more the Congratulations were player the it's is for of a comment. a That's Magna good and looking they market. be second major partnering with into concern a acquired

So, congratulations that accomplishment. on

Unidentified Company Representative

Thank you, everybody.

contact site a to several all. look or progress a employees you visit today. CS. We'd to the to to meeting. on person dedication booth for updating continued We pleased in as We and hosting prepare Look meet we is for further for us updates further appreciated. partners, investor@ari.com deeply as schedule in love forward you your as investor coming are events our have months. very assets, you well out Arbor's you in Thank discussion, our To join please

Operator

you. Thank

Arbe Robotics (ARBE) 14 Nov 222022 Q3 Earnings call transcript