Arbe Robotics Ltd (ARBE) 2026 Q2 法說會逐字稿

Good day and welcome to the Arbe Robotics second quarter 2026 earnings results. (Operator Instructions) Please note the event has been recorded. I would now like to turn the conference over to Mr. Kenny Green. Please go ahead.

大家好，歡迎參加 Arbe Robotics 2026 年第二季財報結果電話會議。（接線員指示）請注意，本次活動將被錄音。我現在想把電話會議交給 Kenny Green 先生。請開始。

Thank you. Good day to all of you and welcome to our Arbe 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 Arbe website.

謝謝。各位大家好，歡迎參加我們的 Arbe 電話會議，討論 2026 年第二季的業績結果。在開始之前，我想提醒各位聽眾，本次電話會議中提供的某些資訊可能包含前瞻性陳述，而今日財報新聞稿中所載的安全港聲明同樣適用於本次電話會議。若您尚未收到該新聞稿，請至 Arbe 官網的投資人關係（Investor Relations）專區查閱。

Today, we are joined by Ram Machness, Arbe CEO, Kobi Marenko, President and Co-Founder; and Karine Pinto-Flomenboim, Chief Financial Officer.

今天與會者包括 Arbe 執行長 Ram Machness、總裁暨共同創辦人 Kobi Marenko，以及財務長 Karine Pinto-Flomenboim。

Following management's formal remarks, we will open the call for the question-and-answer session.

在管理層的正式發言結束後，我們將開放問答環節。

And with that, I'd now like to hand the call over to Ram Machness. Ram, please go ahead.

接下來，我想把電話交給 Ram Machness。Ram，請開始。

Good morning, everyone, and thank you for joining us to review Arbe second quarter 2026 results.

各位早安，感謝各位參加，一同回顧 Arbe 2026 年第二季的業績結果。

I am pleased with the solid progress we made in the second quarter. Our strategy of focusing on broader markets for our radar technology with high demand and more immediate revenue potential is clearly delivering results. We grew our revenue like meeting our customers' demand for immediate solutions using our technology, and we started to see the positive impact of our reduced expenses and 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 for our own production line for their immediate operational needs. Our radars are used to part of defense and homeland security markets in many unique ways. They are used in fixed insulation and vehicle-mounted systems at both short and long ranges. These multiple use cases demonstrate how our versatile radar platform technology can support different needs.

我對我們在第二季取得的穩健進展感到滿意。我們的策略是將雷達技術聚焦於需求強勁、且更具即時營收潛力的更廣泛市場，這項策略顯然正在帶來成果。我們的營收成長，源於以我們的技術滿足客戶對即時解決方案的需求，同時我們也開始看到費用降低對損益底線帶來的正面影響。今天我將說明本季的主要進展。本季我們最大的突破是在國防與國土安全市場。一家全球領先的國防與國土安全系統整合商，選擇我們的技術用於三個專案。我們已簽署框架協議，隨著合作推進，我們預期未來將逐步增加更多專案。在很短的交付週期內，我們從自有產線出貨完整雷達系統，以滿足其即時的作業需求。我們的雷達以多種獨特方式應用於國防與國土安全市場。它們可用於固定式設施與車載系統，涵蓋短距與長距應用。這些多元使用情境展現了我們具高度彈性的雷達平台技術，能支援不同需求。

The project of Oterra, a supplier of autonomous systems with the U.S. Department of Work, continues to progress. Our Tier 1, Sense1, supplies Oterra with high definition imaging radar built on our chipset, and that radar is integrated into Proterra's auto-life perception suite. It helps the vehicle recognize its surroundings, detect obstacles, and navigate unstructured, contested environments where GTX do not work. More broadly, we see further strong demands for our radar technology, with multiple defense and homeless security channels for various applications we have shipped out systems for further evaluation. Many of these opportunities have significant business potential. 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 Tier 1 supplying imaging radar based on our chipsets for defense and commercial applications, announced a new collaboration with VirtuRail.

Proterra（美國勞工部的自主系統供應商）的專案持續推進。我們的 Tier 1 夥伴 Sense1 向 Proterra 供應以我們晶片組為基礎的高解析度成像雷達，該雷達已整合至 Proterra 的 Auto-Life 感知套件中。它可協助車輛辨識周遭環境、偵測障礙物，並在 GPS 無法運作的非結構化、具對抗性的環境中導航。更廣泛而言，我們看到對雷達技術的需求依然強勁，透過多個國防與國土安全通路，針對各種應用，我們已出貨系統供進一步評估。其中許多機會具有可觀的商業潛力。此外，由於我們的產品明確能滿足多項迫切的作業需求，我們看到潛在客戶正努力縮短從評估到全面整合並在現場部署的週期時間。除國防之外，我們在其他更廣泛的雷達應用也持續取得進展。Sensrad（Tier 1，供應以我們晶片組為基礎、用於國防與商用的成像雷達）宣布與 VirtuRail 展開新的合作。

SensRad announced that VirtuRail is now integrating the radar into its automated service vehicles for underground tunnel construction. We continue to supply chipset to Centra, supporting its customers for Terra, Tiani, and Watchet. Our base 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 data fully on the radar output. With regards to our activities in the automotive market, last quarter we founded follow-on orders from a global robotactive player for our Phoenix radar systems. Phoenix scaled to give full 360-degree 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 on most trials.

SensRad 宣布 VirtuRail 現正將該雷達整合至其用於地下隧道施工的自動化服務車輛中。我們持續向 Centra 供應晶片組，以支援其客戶 Terra、Tiani 與 Watchet。我們也直接參與其他非車用專案，這些專案處於不同的評估階段，包括多項與無人地面載具及其他應用相關的潛在機會。在無人地面載具的這些應用中，我們高解析度成像雷達所輸出的影像資訊非常豐富，以至於可以完全依據雷達輸出來進行資料驅動的行駛。關於我們在車用市場的活動，上季我們收到一家全球機器人計程車（robotaxi）業者對 Phoenix 雷達系統的追加訂單。Phoenix 可擴展以提供完整 360 度感知，支援不同自動化等級。在第二季，我們取得進一步進展，我們的雷達系統已整合至其車輛中。我很高興地表示，這些車輛目前已開始進行大多數測試。

We continue to engage in active bid processors with additional robot plastic layers with very positive feedback. Turning to China. HiRain, our T1 in China, is leading supplier in this market and offers a portfolio of radar systems built on our chipset. In December, we announced that HiRain 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. HiRain 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, High-End 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 the largest and fastest moving market for level 2 plus and level 3 vehicles. HiRain is also competing and undergoing due diligence in other meaningful RFIs and RSKUs for the radar product portfolio based on our technology. This involves evaluation and free price. We are closely supporting HiRain with all these evaluations as they progress through various stages of selection.

我們也持續與其他機器人計程車業者進行積極的投標流程，並獲得非常正面的回饋。接著談中國市場。我們在中國的 Tier 1 夥伴 HiRain 是該市場的領先供應商，並提供以我們晶片組打造的雷達系統產品組合。去年 12 月，我們宣布 HiRain 以我們晶片組打造的雷達，已被一家大型中國車廠選用於 Level 4 專案。本季我們持續出貨晶片組以支援該客戶。HiRain 告知我們，他們目前正推進至量產（start of production），預計在未來幾個月內開始。除高階 48x48 系統外，HiRain 正在開發第二個規格較低、同樣基於我們晶片組的平台。該平台具備 24x12 通道，以較低成本對應更廣泛的車款。這兩個平台為我們切入中國市場提供了直接路徑；中國是 Level 2+ 與 Level 3 車輛規模最大、且推進速度最快的市場。HiRain 也正針對其他重要的 RFI 與 RFQ（針對其基於我們技術的雷達產品組合）參與競標並接受盡職調查。這包括評估與價格報價。隨著這些案子在不同的遴選階段推進，我們正密切支援 HiRain 完成所有評估工作。

We also continue to make steady progress with global OEM. OEM is 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 Arbe is regarded as the leading ultra-high resolution data provider for level 3 autonomy and above at a lower enough cost that will allow for a proliferation of our technology to high-volume programs at various OEMs. Let me take a few words on our revenue growth this quarter before we go into the numbers. While still modeled, this trend is in the right direction, and our sales this quarter grew on three points. We sold more ships to our Tier 1, we sold radar systems into defense and civilian programs, and we earned revenue from engineering and development work for our customers. This revenue Shows that our new strategy of end-market diversification is gaining fraction.

我們與全球 OEM 的合作也持續穩健推進。該 OEM 正積極測試先進雷達解決方案，目標是更新其感測套件，以支援更高等級的自動化。我們認為自身處於有利位置，因為 Arbe 被視為 Level 3 及以上自動化所需的超高解析度資料提供者領導者，且成本足夠低，可讓我們的技術在多家 OEM 的高量產專案中廣泛導入。在進入數字之前，我先簡要談談本季的營收成長。雖然規模仍然不大，但趨勢方向正確，而我們本季的銷售成長來自三個面向。我們向 Tier 1 客戶銷售了更多晶片組；我們將雷達系統銷售至國防與民用專案；以及我們從為客戶提供的工程與開發工作中取得營收。這些營收顯示，我們推動終端市場多元化的新策略正逐步獲得動能。

Some of the systems that we saw 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. Today, we are the acquirer of both two-step as well as complete end-to-end meta systems with much shorter cycles. With our focus on driving and market with urgent needs, we sell directly to customers who need our product now. This lets us generate revenue in the near and medium term while still competing for the automotive OEM programs with their long-term significant revenue potential.

我們看到的一些系統正被我們的系統整合商合作夥伴用於競標各類專案。他們的任何得標都可能在未來轉化為可觀的營收。過去，Arbe 只是汽車晶片組供應商，從設計導入（design win）到專案成熟並進入全面量產往往需要多年時間。如今，我們已成為同時具備兩步驟（two-step）以及完整端到端（end-to-end）元系統（meta systems）的收購方，週期也短得多。基於我們聚焦於自動駕駛與具迫切需求的市場，我們直接向現在就需要我們產品的客戶銷售。這使我們能在短期與中期創造營收，同時仍持續競逐汽車 OEM 專案，該等專案具備長期且可觀的營收潛力。

At the end of 2025, 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 levels and we expect to see the full effect by the third quarter. Where our cash brand 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 brand rate, 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. Karine will share our detailed outlook shortly.

在 2025 年底，我們也宣布了降低費用並提升營運效率的措施；事實上，我們已運用 AI 自動化許多流程並降低成本。相較第一季水準，我們已將成本基礎降低約 15%，並預期在第三季看到完整效果。由於預期費用下降與營收成長，我們的現金消耗（cash burn）目標將降至每季低於 700 萬美元。本季結束時，資產負債表上的現金約為 4,200 萬美元；考量我們預期降低的季度消耗率，我們相信擁有足夠的資金跑道以完整執行我們的策略。回顧而言，2026 年上半年反映了此轉型的早期階段，我們預期在今年下半年延伸至 2027 年將出現顯著成長。Karine 稍後將分享我們的詳細展望。

With that, I'll hand over the call to our President and co-founder, Kobi Marenko. Kobi, please go ahead.

接下來，我把電話會議交給我們的總裁兼共同創辦人 Kobi Marenko。Kobi，請開始。

Thank you, Ram and good morning, everyone.

謝謝你，Ram，各位早安。

As we announced, this is the last quarter we took for Karine, our Chief Financial Officer. Karine 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 Karine for all that she has done for the company and to wish her much success in the next role. Karine last day with Albert is today. During the transition period, I will temporarily oversee our financial functions together with the team. I am also pleased to share that Assaf Pereg will join Arbe as our incoming Chief Financial Officer effective August 30, 2026. Assaf 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 Ltd, Aquarius Engine, Become Technological Solutions and Cyberint Technologies. We look forward to welcoming him on the team.

如我們所宣布的，這是 Karine（我們的財務長）在任的最後一個季度。Karine 擔任該職務將近五年。在此期間，她建立了我們的財務組織、主導了我們多數的募資，並管理我們作為在兩個交易所上市公司的對外申報。我謹代表董事會、管理團隊以及 Arbe 全體同仁，感謝 Karine 為公司所做的一切，並祝福她在下一個職務一切順利。Karine 在 Arbe 的最後一天就是今天。在交接期間，我將與團隊一起暫時負責我們的財務職能。我也很高興分享，Assaf Pereg 將加入 Arbe，並自 2026 年 8 月 30 日起擔任我們的新任財務長。Assaf 擁有近二十年的財務領導經驗，曾在以色列及國際間的 NASDAQ 上市公司與私人科技公司任職。他加入我們之前任職於 Ibex Medical Analytics Ltd，並曾在 Nano Dimension Ltd、Aquarius Engine、Become Technological Solutions 以及 Cyberint Technologies 擔任財務相關職務。我們期待歡迎他加入團隊。

With that, let me turn the call over to Corinne to review her last financial.

接下來，讓我把電話會議交給 Corinne，請她回顧她最後一次的財務報告。

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 breakeven 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.

謝謝你，Kobi，大家好。我將更詳細地回顧我們 2026 年第二季的財務結果。2026 年第二季營收合計為 70 萬美元，較 2025 年第二季的 30 萬美元增加。這是我們連續第三個季度營收成長。截至 2026 年 6 月 30 日的在手訂單（backlog）為 100 萬美元。2026 年第二季毛利損失約為損益兩平，相較 2025 年第二季毛利損失 20 萬美元。2026 年第二季總營運費用為 980 萬美元，低於 2025 年第二季的 1,130 萬美元。

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 upset 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.

費用下降主要來自較低的股份基礎給付（share-based compensation）費用，反映本期發放之股權獎酬在授予日的公允價值較低，以及先前授予獎酬的持續歸屬，其中部分目前已完全歸屬。由於不利匯率影響而增加的費用，已被本季成本削減措施所帶來的人力編制下降所完全抵銷；該等措施預期將在下季完整反映。即使我們審慎控管成本，我們仍致力於投資並推進我們的 AI 能力。

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. Compared to a loss of $8.9 million in the second quarter of 2025. We believe that this non-GAAP measurement is important in management's evaluation of our use of cash and in planning and evaluating our cash requirements for the coming period. Net loss for the second quarter of 2026 was $9.1 million, reduced from a net loss of $10.2 million in the second quarter of 2025. Net loss in Q2 2026 included $0.7 million of financial income, compared to $1.3 million of financial income in Q2 2025. As of June 30, 2026, our debt held $41.9 million in 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. Arbe continues to accept 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.

2026 年第二季營運損失為 980 萬美元，較 2025 年第二季的 1,150 萬美元營運損失縮小。經調整 EBITDA（Adjusted EBITDA）為一項非 GAAP 衡量指標，排除非現金的股份基礎給付費用及非經常性項目費用；2026 年第二季該指標為虧損 870 萬美元。相較之下，2025 年第二季為虧損 890 萬美元。我們認為此非 GAAP 衡量指標對管理階層評估現金使用情況，以及規劃與評估未來期間的現金需求具有重要性。2026 年第二季淨損為 910 萬美元，較 2025 年第二季的 1,020 萬美元淨損減少。2026 年第二季淨損包含 70 萬美元的財務收益，相較 2025 年第二季的財務收益為 130 萬美元。截至 2026 年 6 月 30 日，我們持有 4,190 萬美元的約當現金及短期銀行存款。股東權益為 4,050 萬美元。關於展望，管理階層重申我們在 2026 年 2 月提供的 2026 全年展望。Arbe 仍預期全年營收介於 400 萬至 600 萬美元之間，經調整 EBITDA 介於虧損 2,800 萬至虧損 3,100 萬美元之間。

Finally, as I conclude nearly five years at Arbe, 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 Arbe next step towards full productization. I have great confidence in Arbe continued success. Under the strong leadership of Ram and the talented team here.

最後，在我即將結束於 Arbe 近五年的任期之際，我想表達這段旅程對我而言是多麼有意義。我們共同強化了公司的資產負債表，並透過多輪成功募資為研發提供資金；也精簡了成本結構以提升效率，並建立了作為上市公司所需的報告與治理基礎設施，同時為 Arbe 邁向全面產品化的下一步奠定基礎。我對 Arbe 持續成功充滿信心。在 Ram 的強力領導以及這裡優秀團隊的帶領下。

I would like to thank Kobi, Ram, our Board, and the entire Arbe 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've had over the years.

我要感謝 Kobi、Ram、我們的董事會以及整個 Arbe 團隊，與我一同走過這段旅程，讓我們的成就得以實現；也感謝我們的投資人與分析師，感謝多年來我們之間保持的開放對話。

I leave Arbe moving 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.

我離開時，Arbe 正朝著正確方向前進，擁有穩健的財務狀況、更低的成本基礎以及持續成長的營收趨勢。我也將公司交到非常可靠的人手中，並期待在遠方持續關注公司的進展。

Now we will be happy to take your questions. Operator.

現在我們很樂意回答各位的提問。接線員。

Thank you. We will now begin the question-and-answer session. (Operator Instructions)

謝謝。我們現在開始問答環節。(接線員指示)

Matthew Pacuelli, Canaccord Genuity.

Matthew Pacuelli，Canaccord Genuity。

Hi, everyone.

各位好。

Thank you for taking my questions, and Karine, best of luck in your next role.

謝謝讓我提問，Karine，也祝你在下一個職務一切順利。

Maybe just to start off. On the recent defense selection, 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?

也許先從這裡開始。關於近期的國防領域選定案，我相信你提到這裡大概有三個獨立的專案。你能否再提供一些額外的見解，說明這些量體大概會是什麼樣子，以及這項合作關係如何隨時間推進而擴大？

Yes, so the partnership agreement is a long-term agreement and right now to begin with, three specific projects were defined. But the agreement is a framework agreement that will be extended to several applications as well. On this specific one, we were requested not to mention the exact application, but I can say in general that we see on the defense sector several applications that are very relevant on radars. That are not necessarily specific to this agreement when we talk about defense application, 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 surroundings 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 vehicle. This is one example of a very common use case in the defense application. Another one would be some perimeter security. That's another application that is very common in the defense sector and there are actually several more applications that are very relevant.

是的，這份合作協議是一項長期協議，而目前一開始先定義了三個具體專案。但該協議是一份框架協議，未來也會延伸到多項應用。就這個特定案子而言，我們被要求不要提及確切的應用，但我可以概括地說，在國防領域我們看到有多種與雷達高度相關的應用。當我們談到國防應用時，這些不一定都特指本協議，例如無人地面載具與任務車輛，這是非常常見的情境；使用成像雷達非常合理，因為它對周遭環境的感知能力很強，且不會有攝影機的缺點，例如灰塵影響，當然還有夜間與天候問題。因此，許多無人地面載具的應用都會使用雷達與成像雷達。這是國防應用中非常常見的一個使用案例。另一個則是周界安全。這也是國防領域非常常見的應用，而且實際上還有更多非常相關的應用。

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

很好。感謝補充說明。另外在 robotaxi 方面，同樣地，看起來你們也取得了不錯的進展。你是否可以再深入說明一下這些遴選流程大概是什麼樣子、你們還需要達成哪些里程碑，以及從時程角度來看，我們應該如何預期？

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. That's with one of the Robotaxi providers that are more coming and that are right now in earlier stages.

好的，我們目前已有多輛車配備了我們的雷達。這是由我們雷達提供的 360 度視野，而基於我們雷達的感知堆疊（perception stack）開發現在正要開始啟動，我們預期會逐步推出。大約在今年年底到明年年初。這是與其中一家 Robotaxi 供應商合作；另外還有更多合作正在進行中，目前仍處於較早期階段。

Great, thank you.

很好，謝謝。

(Operator Instructions)

(接線員指示)

And this will conclude our question-and-answer session. I would like to turn the conference back over to Ram Machness for any closing remarks. Please go ahead.

問答環節到此結束。我想把電話會議交回給 Ram Machness 作結語。請開始。

Thank you. On behalf of the entire management team at Arbe, I would like to thank you, our shareholders, for the continued interest, the long-term support for our business. I believe that Arbe is now very well situated for the future, having planted the seeds beyond passenger automotive, which, as you saw today, are beginning to sprout. Finally, I would like to thank Karine 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 our new CFO. 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.

謝謝。我謹代表 Arbe 全體管理團隊，感謝各位股東持續關注並長期支持我們的業務。我相信 Arbe 現在已為未來做好非常充分的布局；我們在乘用車以外領域播下的種子，正如各位今天所見，已開始萌芽。最後，我要感謝 Karine 在過去五年中的辛勤付出、領導力與合作夥伴精神，並祝福她在未來的職務一切順利。我也要歡迎我們的新任財務長。我們都非常期待與他合作，帶領 Arbe 邁向下一階段；也對投資人與分析師，我們期待在下個季度向各位更新我們的進展。

And with that, we end our call. Have a great day.

至此，我們結束本次電話會議。祝各位有美好的一天。

The conference is now concluded.

本次電話會議現已結束。

Thank you for attending today's presentation. You may now disconnect.

感謝各位參加今天的簡報。您現在可以掛線。