Okay, let’s get started. So, hi everyone and thank you for joining Maris-Tech Investor Webinar. I’m Shelly Groisman, the Marketing Manager of Maris-Tech. Today, our CEO Israel Bar and our CFO Nir Bussy will present the latest updates for Maris-Tech’s. So Israel, the stage is yours.

Hello everybody, and thank you for your time. We'll go through a presentation showing the Maris business and technologies and after that, Nir our CFO will continue with the financial information. Please take a few seconds to review the legal disclaimer. So a few words about the company overview. Maris was founded in 2008 and started its operation in 2010. We took the company public in 2022. And we have offices in Israel and the USA. In Israel, of course, we have the headquarters, the R&D, manufacturing, and we employ 16 employees. We can say that we are about 20 people working consistently in the company. We have a few freelancers. So everything I'm going to tell you about and all the achievements and the technology development was created by these 16 up to 20 people. What we are doing in Maris, we are dealing with age computing solutions. We develop hardware and software OEM solutions or final products, which are integrated in remote platforms. And when I'm talking about remote platforms, I'm talking about drones, robots, armored vehicles, any platform, which is carrying sensors, video, audio and telemetry. And the platforms that we are providing are dealing with the capture of the information, the transfer, the stream of the information to the operators and integrating AI capabilities on the platforms, although we are not developing AI algorithms by ourselves, but we are providing, I would call it a miniature low power light computers, either on OEM level or within enclosures, which are serving both pipelines. Everything related to the video is done by our firmware and we provide a platform, which enables our customers to develop their own AI algorithms. Although in certain cases, we're using off the shelf tools as I'm going to describe later on. In terms…

Hi everyone, my name is Nir and I am the CFO of the company. In the following slide I will show you some highlights from our financials focusing on what we can disclose as a public company. Our revenues continue to grow increasing from $1 million in 2020 to approximately $6.1 million in 2024, representing a growth of more than 50% in our revenues, compared to 2023. Our backlog as of the end of March this year was approximately $9.9 million, which we expect to recognize as revenue in the coming years. Alongside with the growth of our revenues, our net loss continued to decrease from $3.7 million in 2022 to $2.7 million net loss in 2023 and to $1.2 million in 2024. It's representing a decrease in our net loss of more than 54%, compared to 2023. Our cash and cash equivalent as of the end of December last year was approximately $2.3 million. We believe that our cash flow together with proceeds from our customers and using our line of credit will be sufficient for us for support our growth and operation in the coming 12-months. Thank you.

Okay, thank you, Nir. And just to summarize what has been discussed, we have discussed our leadership in the defense and homeland security market. We have discussed the expanding market opportunity, our core business strategy, our position as a supplier of video and edge computing solutions and the financial highlights described by Nir. And we are now open to any question from the attendees.

Just a second, please. Okay, I'm going to answer a question, which is related to our agreement with the Indian distributor. The question is that there is limited information available about Thrikasa Technology, which probably contribute to the drop in Maris stock yesterday? I can tell you that we have signed an agreement with the distributor, which is dealing a lot with the defense market. We believe that this distributor will open us some opportunities in the market. And we have just started and I don't see any relation between this agreement and the share price.

We have another question regarding the decreasing in revenues between the second-half in 2023, compared to the first-half in 2024? At this stage, we are still a project company with a set of different orders from our customers. Our revenues are not linear through the year. We want it to be linear, but this stage is not linear. And for this reason, there will be sometimes a decrease in revenues between different periods. This is the answer for this. And regarding future expectations, there is another question about it, our forecast. This is not public information that we can share at this stage.

Okay. Okay, since I don't see any more questions, and then I would like to thank you all for participating our webinar. And we will be happy to update you more in the future. Thank you.

Thank you very much.