For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Q: You've talked in the past about a pipeline of 4 to 5 RFQs where you are active. How have these potential end customers reacted to the advances both with NVIDIA as well as the high resolution at this long range? What should investors expect as the next data points on some of these procurements? A: Matt Fish, CEO: The response has been very positive. The engagements continue to be strong, and we expect them to come to a head as we get into 2025. One key challenge is integrating a new sensor into an autonomy system, which Apollo addresses by making the interface more seamless and reducing friction for OEMs. This is due to Apollo's wide field of view and high resolution, which makes it easier for OEM software to digest our data.

Q: Can you talk about the competitive landscape for these RFQs that you're facing this year? A: Matt Fish, CEO: The automotive industry leans toward having choices, and we aim to be the best choice in terms of performance, size, and cost. We have a distinct cost advantage due to our partnership with a tier-one supplier with expertise in optics, which gives us a competitive edge in the sourcing process.