Hello all and a warm welcome to Valens Third Quarter 2021 Earnings Call. My name is Lydia and I'm your operator today. [Operator Instructions] It's my pleasure to now hand you over to our host Daphna Golden, Vice President of Investor Relations. Please go ahead when you're ready.

Thank you and welcome everyone to the Valens third quarter 2021 earnings call. With me today are Gideon Ben-Zvi, Chief Executive Officer; and Dror Heldenberg, Chief Financial Officer. On a personal note, I'm excited to join Valens earlier this week, and I'm looking forward to working with the team and communicating with the investment community, investors and analysts. Earlier today, we issued a press release that is available on the Investor Relations section of our website under investor.valens.com. As a reminder, today's earnings call may include forward-looking statements and projections, which do not guarantee future events or performance. These statements are subject to the Safe Harbor language in today's press release. Please refer to our registration statement on Form F-1 filed on October 20 with the SEC for a discussion of the factors that could cause actual results to differ materially from those expressed or implied. We do not undertake any duty to revise or update such statements to reflect new information, subsequence events or changes in strategy. We will be discussing certain non-GAAP measures on this call, which we believe are relevant in assessing the financial performance of the business. And you can find reconciliations of these metrics within our earnings release. With that, I will now turn the call over to Gideon.

Thanks Daphna and welcome to Valens. You definitely came to the right place. Thank you everyone for joining our first conference call as a public company. I'd like to welcome our new shareholders and research analysts. Becoming a public company, following the completion of our business combination with PTK Acquisition Corporation and the PIPE investment and listing on the New York Stock Exchange on September 30th is an exciting milestone in our corporate journey, that would help us continue to push the boundaries of connectivity. Our team remains focused on execution to address the unfolding near and long-term opportunities in the large and growing automotive and audio-video market that we serve. To that end, we delivered strong results in the third quarter, which demonstrate solid execution and the continued momentum we are seeing across our business. We reported record revenues of more than $19 million, record bookings and ended the quarter with record backlog and with a fortress balance sheet, that will support our continued growth. For those who may be new to Valens, I'd let you take a few minutes to provide a brief overview of our company and the main reason why we believe we are winning position to create value for our shareholders. First, and to put it as simply as possible, Valens is a company that sets industry standards for high-speed connectivity. We did it in the audio-video market, and we're doing it again in the automotive market. Second, we operate in large and fast-growing addressable market. And third, our business model offers a compelling financial model. I'd like to address these three in greater detail, starting with our company's ability to set standards. In our audio-video business, we invented HDBaseT technology, which quickly became the leading industry standard for long-reach, high-speed digital connectivity. We are…

Thanks, Gideon. I'll begin with a summary of our key business developments for the third quarter. Then, I'll discuss our results and our outlook for the fourth quarter. We're continuing to see the automotive ecosystem unite around the MIPI A-PHY standard ahead of our scheduled shipment of this market first A-PHY compliant shipment which is expected next month. We have a long list of more than 15 prospect customers and partners, including OEM and Tier 1s, eagerly waiting for our VA7000 chip for evaluation and integration into their platforms. I'd like to talk about the most recent indication of the growing interest in the MIPI A-PHY standard and the anticipation for our compliant chipsets in the industry. In September, we announced the partnership with Sunny Optical, a leading manufacturer of automotive camera modules. Sunny Optical is integrating our VA7000 transmitter chipset into their camera modules that enable advanced driver assistance systems, known as ADAS, and surround view applications. This partnership also provides us a strong foothold in the vast Asian market. Another example of the growing market interest in A-PHY, comes from our new partnership announced two days ago with LG Innotek for the supply of system-in-package modules for MIPI A-PHY compliant shipment. Clearly, the addition of LG Innotek, reflects the continued expansion of the MIPI A-PHY ecosystem is another measure as declared its intention to provide A-PHY based products. In the audio-video business, our latest addition the Valens Stello product family was released to the market earlier this year, and has already been embedded by leading industry players. We now have over 30 customers in stages of product development and integration, and we expect to see multiple products per customer on the market by year-end. Now, I will share some highlights from our third quarter financial results. Our Q3…

Thank you, Dror. To sum up, at Valens we operate two growing businesses with considerable opportunity to scale up in the future. The new market vertical we serve, the backlog at the end of the third quarter and the momentum reflected in the pace of bookings, all provide us strong visibility with respect to our business. We look forward to continuing to execute on our strategy and business model to create value for all our stakeholders. I would also like to take this opportunity to thank our incredible team of more than 270 employees around the world for their dedication and execution. Operator?

Thank you. [Operator Instructions] Our first question today comes from Suji Desilva of ROTH Capital Partners. Your line is open.

Thank you. [Operator Instructions] Next question today comes from Rick Schafer of Oppenheimer. Rick, your line is open. Please go ahead.

Thank you. [Operator Instructions] We have no further questions in the queue. So, I will turn the call back to Gideon Ben-Zvi for closing remarks.

Thank you very much for attending and for listening to us. And I would like to thank for joining the first and our Q3 2021 call and for your continued support and interest in Valens and see you next time. Thank you.

This concludes today's call. Thank you for joining. You may now disconnect.