Disclaimer Radar Revolution. Delivered. Q2 2025 Financial Results This Presentation contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "may," "should," "strategy," "future," "will," "project," "potential" and similar expressions indicate forward-looking statements. Forward-looking state ...

Financial Performance - Revenue for Q1 2025 was $0.04 million, compared to $0.1 million in Q1 2024[7] - Gross Margin Loss remained constant at $(0.3) million in both Q1 2024 and Q1 2025[7] - Total Expenses increased from $9.4 million in Q1 2024 to $9.7 million in Q1 2025[10] - Net Loss increased from $(12.8) million in Q1 2024 to $(13.8) million in Q1 2025, which includes $45K and $457K financial expenses respectively[10] - Adjusted EBITDA improved from $(8.2) million in Q1 2024 to $(7.5) million in Q1 2025[10] Balance Sheet - Cash and cash equivalents & bank deposits totaled $71.9 million as of March 31, 2025[13] 2025 Guidance - The company anticipates 4 OEM Design-ins in 2025[17] - Adjusted EBITDA is projected to be between $(29) million and $(35) million for 2025[18]

Financial Performance (Q4 2024 vs Q4 2023) - Q4 Revenue increased from $0.35 million to $0.1 million[5] - Q4 Gross Margin Loss remained at ($0.2) million[8] - Q4 Operating Expenses increased from $8.4 million to $9 million[11] - Q4 Net Loss increased from ($9.3) million to ($12.2) million[14] Financial Performance (FY 2024 vs FY 2023) - Yearly Revenue increased from $0.8 million to $1.5 million[5] - Yearly Gross Margin Loss decreased from ($0.8) million to ($0.0) million[8] - Operating Expenses increased from $34.1 million to $35.1 million[11] - Operating Loss increased from ($46.9) million to ($49.6) million[11] - Net Loss increased from ($43.5) million to ($49.3) million[14] Balance Sheet & Guidance - Cash and cash equivalents & bank deposits stand at $24.6 million as of December 31, 2024[17] - The company projects Adjusted EBITDA between ($29) million and ($35) million for 2025[22]

Financial Data and Key Metrics Changes - Total revenue in Q4 2024 was $0.1 million, a decrease from $0.35 million in Q4 2023. For the full year 2024, total revenue was $0.8 million compared to $1.5 million in 2023 [17] - Gross margin loss for Q4 2024 was $0.2 million, consistent with Q4 2023. The full year gross margin loss for 2024 was $0.8 million compared to a break-even gross margin in 2023 [18] - Operating loss for Q4 2024 was $12.8 million, compared to a loss of $12.1 million in Q4 2023. The full year operating loss totaled $49.7 million, up from $46.9 million in 2023 [21] - Net loss in Q4 2024 was $12.2 million, compared to a net loss of $9.3 million in Q4 2023. The full year net loss for 2024 was $49.3 million, compared to a loss of $43.5 million in 2023 [21] Business Line Data and Key Metrics Changes - The company reported a backlog of $0.3 million as of December 31, 2024 [18] - R&D expenses for Q4 2024 were $9 million, up from $8.4 million in Q4 2023. For the full year, R&D expenses totaled $35.1 million compared to $34.1 million in 2023 [20] Market Data and Key Metrics Changes - The company highlighted significant opportunities for growth in the non-automotive market, particularly through collaborations with key partners [12] - The company expects to ship around 5 million imaging radar chipsets to customers by 2030 based on current engagements [13] Company Strategy and Development Direction - The company is focused on driving radar technology evolution and enhancing customer relationships, with a commitment to innovation [5][6] - Collaborations with major players like NVIDIA and partnerships with top global auto OEMs are central to the company's strategy [7][8] - The company aims to pursue four design-ins with automakers in 2025, with projected annual revenue between $2 million to $5 million [24] Management's Comments on Operating Environment and Future Outlook - Management noted that while broader economic shifts have led to delays in automakers' rollout of advanced driver assist systems, the total addressable market continues to expand [24] - The company remains optimistic about its market potential, supported by recent fundraising initiatives totaling nearly $17 million [15][23] Other Important Information - The company raised gross proceeds of $54.5 million in January 2025, enhancing its financial stability [23] - The company maintains a strong focus on R&D to ensure continuous innovation and technological advancements [20] Q&A Session Summary Question: What programs are expected to drive $1 million-plus revenue quarters towards the end of 2025? - Management identified three leading projects in final stages: Tianyi (non-automotive), trucks in Europe, and a collaboration with HiRain for a Chinese car manufacturer [31] Question: What is the current cash balance and share count post-fundraising? - The current cash balance is approximately $73 million, with a share count of 85.7 million [35][38] Question: Can you provide an update on the China EV market opportunity? - The company noted that Chinese car manufacturers are focusing on launching self-driving services and are looking for radar solutions to enhance their offerings [39] Question: What is the status of discussions with OEMs? - Management indicated that evaluations with OEMs are in final stages, with the company shortlisted against one or two competitors [44] Question: What is the expected operating expense trajectory over the next few years? - The company expects operating expenses to remain similar over the next few years, with additional investments in next-generation technologies [47]