Q3 2021 Otonomo Technologies Ltd Earnings Call

Welcome to the conference call. Please continue to stand by your conference will begin just sugarcane.

[music].

Good day and thank you for standing by welcome to the Ultra now my business update for the nine months ending September 30th 2021 conference call. At this time all participants are in listen only mode. After the speaker's presentation. There will be the question and answer session to ask a question during the session you're going to need to press star one on your tongue.

From Keybanc. Please be advised that today's conference is being recorded if you require any further.

He says over the phone piece per stop Seattle, I would now like to hand, the conference over to affect speaker today, Mr. Golf feel of S. IR. Please go ahead.

Thank you operator, and thank you all for joining US today welcome to autonomous nine month, 2021 business update call before we begin I would like to remind our listeners that certain information provided on this call may contain forward looking statements.

And the Safe Harbor statement outlined in today's earnings release.

So pertains to this call. If you have not received a copy of the press release. Please download one from the Investor Relations section of the company's website.

Today's call is accompanied by a Powerpoint Powerpoint presentation, you're welcome to view the presentation Autonomous Investor Relations website change.

Changes in business, such as competitive technological regulatory and other factors could cause actual results to differ materially from those expressed by the forward looking statements made today.

Our historical results are not necessarily indicative of future performance. Therefore, we gave we can give no assurance as to the accuracy of our look forward looking statements and assume no obligation to update them, except as required by law.

Today, we're joined by Ben Volk, co CEO and co founder of a ton of them.

He will start off with an update of the business. Following his prepared remarks, we will open the call for the question and answer session and then Ben will be joined by Bunny Mobs, Chief Financial Officer, and Ron Simon Executive Vice President strategy, and corporate development with that I'd like to.

Has the call over to Ben focal Ben Please go ahead.

Hi, everyone and thank you for joining or to a normal third quarter business update conference call.

Today, the presentation will focus on recent developments and then elaborate on our unique technology in Australia.

We will also discuss <unk>.

Market trends.

Sure.

Please go to slide three.

So normally it's building the worlds largest mobility ecosystem powered by data and intelligence.

Data and need to appreciate that insight.

This foundation for the future.

Oh wait.

It took her normal to make sure that data intelligence.

Sure.

More commoditized.

To support you.

Chip.

So I know data is no burden.

It cannot be denied Theres no drug.

The value of data.

Lori when you Sherry your deep understanding because I.

The power and expect those data.

Got it.

And can be felt across the transportation and automotive industries and enterprises Israel.

The future automotive and mobility in the ecosystem is fueled by data.

We'd say Grand vision.

He is already our reality.

So normally <unk> mission to bring it to the global skin.

Moving to slide four.

I'd like to quickly explain what do we do that.

Our first quarterly conference call and I assume that we have new investors.

The guide we've got.

Well, it's a novel fuse that data ecosystem Oh, yeah.

And more than 100 service provider.

Spendings transportation mobility and automotive industry.

In Q3.

That's really tied to a new OEM agreement.

Bringing our total number of contracts up to 'twenty one.

These represent on grid guide still stay touch with you.

The total non do connected cars.

You agree.

Over 40 million vehicles.

These tours today.

Two more than 4 billion that's employees.

Being generated.

Right.

Which I went through that for us is to support our revenue segment.

And more than three.

Also referred to as B to B aggregate data used by Mark.

And marketing companies and personalize data for payroll services.

Services like.

Houston based insurance.

At the moment.

Nonetheless, who granted patents.

And then not to gain the new equity issue.

There are a total of 28 patents pending.

So from what's the number and pull more from Iraq.

With the new acquisition.

We added not only amazing technology.

I see and then talk notes take because he.

But also access to data and insights from who already 30 million mobility devices.

This opens up a number of drugs for to last mile devices.

Do they need to open areas activity, such as micro mobility, and a deeper understanding of the automotive and mobility intersection.

As you can see we are moving in big steps.

Realizing our vision.

I will move to slide five.

I'm sure that most of you are familiar with the 10-K.

I know they see the future of mobility within the school segment more of them.

K stands for connected autonomous shared in that exercise.

There are clearly those normal should an extra five areas.

Well, it's a normal.

And that's been the leader in clinical.

Okay.

We have neighbors Oems to show data and intelligence from their connected vehicles.

And they all the equities didn't benefit from the resulting diverse morbidity related or morbidity based services.

The rider.

50 sites.

All benefit.

I'm delighted to share this with a number of these discussions with these companies mentioned on this right now.

This is another proof point showing.

The value, we I look for the different segments of mobility.

Slide six.

We are well positioned for what is to come.

What's the normal is the very strong technological base salary our data platform.

Our data.

He said he there amongst the industry, we need to switch that we built the team and he is a box it.

As we mentioned before.

Data.

If your phase III.

Our business and the foundation for our growth.

We have built a truly comparative people for me I'm.

And part of the body.

We have an extensive and growing cooperation.

Oh yeah.

But I think that data.

Our ecosystem of data, you'll mill in Charlotte and proud of the sheets.

It's still growing.

We have a strong balance sheet that fit both our business plan for the years to come.

Oh deep really puts us in a position to push their mobility industry forward, we call it data and mobility intelligence.

I'm moving to slide seven.

So it is profitable policies sheets, a top priority for us.

And then integral part of our go to market.

These relationships are a reasonably.

Providing value for.

The quotes here on the slide.

I think some of our current partnerships.

We have shared information need to touch it.

They both AWS and Salesforce.

Sure.

And some of the others.

All of which we are very excited about.

There's a lot more to come here.

We look forward to sharing the news about the upcoming new proposition.

The near future.

Slide eight.

We are seeing traction in these areas for our data and intelligence.

The first one is the infrastructure and small.

We see more and more cities and each which are infrastructure support organization such as D O Ts.

Using data to reduce costs and optimize his father their infrastructure and open traffic.

Well the reason I did announcement, we expect even more disruption more budget coming in.

It's amazing to see how the private real estate.

The power of connected cars.

Reading showed cycle and bring so much value in this domain.

We feel so more and more request.

Iran traffic optimization and CRO.

Flotation flattening.

One of the rising game.

I mean is everything around that.

<unk> in Egypt.

For example, understanding cowboy footprint in the area or you think the Oems to understand their carbon footprint.

Using cloud data.

This is almost a segment that was known existed until couple of months ago.

Now it takes more and more of the central States.

Ebay adoption is one of our fastest growing segment.

I actually view it because on one side, creating a lot of data.

Was that based upon new architecture, but data was thinking it was both from the from the beginning.

And at the same time, there could be things that you'd be ecosystem requires a lot of data for optimization.

Understand for example, the Qs and the charging station.

I understand in the air.

You couldn't charging station.

It's been that way to deploy new charging stations.

Based on the solid greed, etc.

We really see a booming amounts of pre placed in this segment.

<unk> data and intelligence.

The last but not least is the fleet management pixel.

We talked to you that answer in the past about how using the data we really revolutionize the switch system.

The suite settle.

Based on the kidney prediction is expected to grow 60% by 'twenty five.

Cause of the solicitation because normally because of not built for a reason.

This is a huge blue ocean.

And we are coming with the new offerings that these new awards is available until today.

Thanks Lee.

These medicines companies.

The roof to assess model towards software model.

Using the embedded modem in the car instead of an aftermarket device.

Moving on to slide nine.

I wanted to share with you some of the main growth trend.

This is we see to.

To give you a bit more visibility into.

Into some of the changes we've seen in the market.

We see also make hill's shifting towards personalized services.

It was always.

And it shows a choice the summer.

Also make us differently.

Our local makers prefer to jump into the data what's the aggregate data.

Dave <unk> to jump into those waters with pets a lifestyle.

We definitely see the peso I services, taking more and more of.

At this stage, we see more and more automakers more and more Oems.

This does with specialized services there.

There are a number of reasons for that and we would be happy to elaborate.

We see also rising demand.

<unk> diversified data types.

You can deal with the day's work.

The industry was expecting from connected cars.

Who else he called data once you're done.

Also research with SPD.

Very base because there you can make there that's the stage.

Good day.

The demands are much higher.

The traffic side.

Friction.

Sorry, ultrasonic data, but to rebate a few related data are all on the table at the old requested.

It's great to see that they need to understand the power of the data the diversity and how much things that you can nabors.

And we see D C, resulting in growing demand to reach to that state.

But it's one that there's such a guard data for him and he says.

It's great to see.

This is Anthony.

The third point multi brand offering for b to B and B to C.

B to B and because fees of course personal data use cases.

And we see there.

This ecosystem coming in demanding multi brand offering.

Because if you took the insurance company to talk to a degree that would tell you that that they have many many oems in their fleet, so I do with their insurance.

Coverage they have the gms and so you'll see therefore, just stayed on pizza out he's excited about they need their multi brand they.

They don't want to go OEM by OEM contract close out ACI by ACI does that she addiction, everybody does it make sure that.

They want multi brand support.

And again.

This is part of the value that we bring masquerading the defense OEM complexities offering as one unified deficit one unified dictionary.

I will move to talk about some intelligence range that we see and with the new acquisition.

Now able to offer their intelligence noticed data.

The ecosystem.

The first dimension, you said demand for aggregates based intelligence.

We are facing growing amount of private sequences.

God. This before it is their number one priority.

We'll make sure that it's never jeopardize that is being respected in the Ed.

We are all drivers and we want to treat our customers to stay way, we want to be treated.

I think the ability to offer intelligent.

These sites analytics next to devote data.

There are many places to overcome.

And then you can try this feature.

The biggest need to provide the dashboard and military raw data.

It may be as many of our ecosystem partners to get that you say they want.

Without having to deal with conflicts drive to see challenges.

I mentioned before that we see also make is shifting towards personalized services.

It's part of the feed we see also yeah.

I asked people data intelligence out there.

Ideally they'd be surface sure, sometimes instead of just instead of Pearl data with the South East.

Oh, they want the ability to understand the data better.

Oems are generating huge amounts of data.

Not an innovation project anymore.

It's something that is a big part of their business has a huge potential I know.

So a huge cost.

They want to understand better the data so they can utilize embedded peacefully.

And again, we tell them our biggest intelligence.

Probabilities.

We are able to offer them.

More insights and understanding of their data.

Absolutely.

I am moving to slide 10.

As recently announced.

And your acquisition.

In Q4.

But I think the other capabilities and intelligence offering.

I'm just kidding.

We've doubled our total addressable market.

Two about Hudson this $40 billion.

The intelligence offering.

And in a REIT because you cite today are in value solar customers.

He says I would look for novel.

So if they weren't so so solution for it.

Connected car data and.

Hey, I based on anything.

This value.

Glad to materialize.

You now have two revenue streams.

The data market, great and that was just too portfolio.

As we gain more and more market share.

And the market and OEM contracts.

Not sure.

Yeah.

Please join me on slide 11.

I'd like to discuss.

Some of the added mobility.

Diligent solution.

We have to be the hedging we did your acquisition.

We empower transportation printer with insights into morbidity need and multimodal demand.

Which is necessary for the pending in building.

It's Steve.

These current quotation nickel.

But there isn't anything up to date external mobility side, we can support they could leave and decisions that create accurate miserable and EPS low Cogs network design.

We also boost EV charging station.

This is going through a process of certification by optimizing the location selection and utilization.

Housing station deployment.

So of course as maximizes our ROI.

Services.

This capability.

It's at its most loans or.

Does he think morbidity event.

Well, we have active discussions with permanent nekoosa patient privacy.

Data driven and it's with vacation fitness gain access to accurate measurement of demand for EV charging and every point of the season with precise mapping are thrilled batteries zone.

The primary corridor and better understanding of easily mobility pocket.

In addition, we have suite.

And must provide to increase their operational efficiency and our ROI right.

I'm, just really clusters of demand.

Which leads provided to make the supply and demand to optimization location reallocating the resources they.

A rebalancing the fleet.

In addition, I want to highlight that Europe.

In Europe, much more sort of normal.

It's amazing technology.

There are assisting who the strong as trust growing order book.

Accelerating business engagement and talk know Chi engineering and data science teams.

We already April we ended this customers for the newer technology.

Utilities and public companies as customers the newest technology.

And smart cities and mass providers that are using that.

Mobility in fact technology. So we are very excited from the traction we see it.

What is coming.

We've been really getting great feedback from the market.

We did the acquisition of the normal provides the data privacy consent management to real application ready data and analytical work bench delivering actionable intelligence.

Okay.

Looking at slide 12.

We can see the strong momentum.

Signing key OEM contract continues.

We have 21 OEM contract.

Five of them with side in Q2 Q3.

We also added three data extension.

This thing OEM agreements.

To support why does data partnerships.

We are very proud of those new agreements five newly and agreements in six months is not.

They walk in the park and the extension is assigned it a weird pauses.

From the collaboration.

See the value, we bring and send it back potentially for their business and they keep supporting.

Farther and farther.

They joined season.

Our pipeline is growing also in Colorado to the days of supply.

This represents 60% growth.

Aggregate data visit new facilities, and the 70% increase is switched activation opportunities.

This is moving in the guide we thought would be great.

Those are some of the Kpis, we are using to track the business progression.

This is clearly indication.

The maturity of the market increases.

Water over the quarter.

And that our business plan is on target.

Now onto slide 13.

Here are a few more metrics on the business that we wanted to share.

The sales team is growing costs to meet market demand.

Go Rockies and industries.

We would be happy to move faster.

But we strive to maintain quality and not compromise on COVID-19.

He said that we recently made its upi is with vast experience industry experience.

For example, our new CFO.

Join us for some time recently.

During Q3, we have made some significant additions to ourselves and go to market team.

Adding key tenants with vast industry experience.

The tide to choose the best setting we continue to expand and grow these teams putting us on a direct path.

<unk> future growth.

Our product team has more than doubled itself to support our product roadmap.

We are bringing to market a growing set of comparisons these tools.

You can see the increase the reason engagement.

It's really going through the roof.

This is a result of our effective and extensive thought leadership activities.

However, broad activity.

Generating an increasing the reach and engagement.

Most all social media channels.

I'm moving to slide 14.

He reason addition, I look at.

F Q3.

To give you some more visibility to the progress being made.

Okay.

Strong engagements for our unique offering with user base engagement growth.

Which is more than 20%.

We showed in the last few months.

Partnership for example.

Right.

I can tell you is I've been key king with Cogs.

These data in June.

And this is one example.

This baseball sponsorship.

We are delighted that.

We are forming strong collaboration we are running multiple titles.

And I think some very exciting industry changing and discussions.

We hope to share more news.

In the future.

Strong OEM growth.

We've shared with you that we signed five agreements in the last six months.

So three extensions to existing construct.

We have number of addition of OEM contract in the vehicle ready to die down.

But we hope to sign and announce soon.

Mitsubishi Motors Corporation.

We are discussions with Mitsubishi.

Guarding entry into a new commercial arrangement.

It was designed with the technological and market needs both of policies.

In the meantime, I want it because it's a market based agreement.

So that's just the agreement.

Both unique in their contract structure I know that.

Longer in place.

While we work on the bigger vision and collaborations.

I'm moving to slide 15.

Here on slide 16.

We started full CRO.

Guiding our Nielsen activities.

Those are things that we're doing every day.

We are working on increasing our channel.

There are some suitable charge I would go to market plan.

Well we have relationships.

But as I said, both the crowd and we work hard to maintain our spouses truck and due to the extra sheets with you also make is when you go gracias.

Kevin.

And as they ship in the right way.

It has to meet market demand.

Launching a new features and additional mobility intelligence to ensure.

Sure as we continue to be on the cutting edge and provide.

Book value.

It could be.

Thank you very much.

Operator, we are ready for the Q&A session.

Thank you Gabe participants we will now begin the question and answer session and you'll find that if you wish to ask a question. Please press star and one on your telephone keypad and makes her name to be announced.

The first question comes from the line of Josh Nichols. Please ask the question.

Yeah, Hey, thanks for taking my question.

I wanted to ask a little bit about the integration with neuro I know, it's been only a little over a month, but when do you think the company is going to be releasing some of its AI solutions to your existing OEM and channel partner base.

I know, it's not going to be a major revenue contributor this year, but could you elaborate on some of the opportunities and expectations for 'twenty, two and potentially beyond.

So I, Josh and thank you for the question.

So really we announced.

The acquisition of neurons involved too.

Five weeks ago.

But of course, we've been walking the trenches and you'd take a chance both this for many weeks before.

It's going with <unk>.

It's a bit of almost no no Knoxville game you know.

Basically these rats and mice from what we all see.

We've been working together and having discussion before.

So there arent many surprises.

We see.

Strong demand in the market.

Even more than we anticipated, we really were planning to take baby steps.

And we see push and pull from the market and the sales team.

We.

Yeah lots of excitement from our ecosystem from the ability to offer not just the raw data, but also to help intelligence an adult.

Even though our ecosystem the biggest theme really we take a lot of the walk away.

Most of that the fact that they are under one roof, we have both the data and intelligence.

But as we get deeper inside the.

No.

I think that you can get when you get those two from different places.

Oh, it must give us almost a unique positioning in the market.

I hope it turns to the question at least the pull up a pizza elaborate in more detail.

Yeah no. Thanks, the that provides some good clarity and I was going to ask you talked a lot about end markets and a lot of big opportunities that you guys are starting to touch on there.

What one or two end markets are you seeing the most early stage traction in today that you think are going to have the quickest adoption and potential to kind of scale. The early revenue model over the next year or so.

Yeah.

So I would try to pre crunch from the personal data side and one from the aggregate you know, they're all my son.

And I think that's on the personal use defensively suites.

It's a strong offering.

The values.

Use of the fleet or the fleet management companies to move from hardware to software.

And pay only for the date that you consume you'd have no downtime you don't need to install anything there are no surprises.

The more they can speak to stopping that moves forward nicely. We mentioned that it can play an exhausted, which is I think is the biggest leasing company on the planet about Toby on Cogs.

The Newsweek, there and growing very nicely.

There are many other fleets that we ought to be able to show names in the near future. That's one segment.

If I need to think and not just the main tablet talk about everything around.

Policy fees and transportation management.

We've seen robust budget smooth again.

And boom in Rfps in the other side.

And I believe that that's the number for this are quite unique and.

<unk> positioning on one side, we have very diversified data that goes behind the royalty called data and support new use cases.

And on the other side, we saw where mobility instead of James we're able.

To provide not just the data but also it's a.

Dash Board.

That does a lot of the digestion that needs to be done on the on the street.

You'll see side.

The fact that we can really take the lead there I'll just say I think for them.

So those are two examples of I O.

So the question.

Yeah. Thanks for clarifying that and then if you could kind of elaborate a little bit I, just so you're in discussions with Mitsubishi right. The previously you had an agreement in place.

And they're now as you work to kind of expand that to a potentially broader vision. As you mentioned did that have any like revenue impact to the quarter for the first nine months of the year or expectations for for Q I didn't notice that obviously your guidance for the year is kind of heavily.

Fourth quarter weighted I'm, just curious if you could elaborate on that.

Impacted also what's kind of implied to get to the four key revenue jump of 700 to 800000 or so.

Yeah.

So the the mid C Studies 40 day agreement Mitsubishi our SaaS model customer.

We provide them the our Iot.

Which enabled them to work.

Enjoy the benefits of data and the value of data before there is a police force structure in place.

Now did that putting the infrastructure in place.

They ask us to open the construct.

And discuss if we can help them with different auditions, that's our model.

Adjust to the new architecture.

So to add additional markets to the collaboration.

In the meantime.

We've increased our existing core and so that's why we work with a new one.

There's going to be.

A revenue impact, but this revenue impact is already baked into the focus that we ship.

So the numbers that we shared the updated numbers for the year.

The associated number that you can make.

And the central did for Q4 already take into account that Mitsubishi.

Changes in contract.

We view it as something positive.

They see additional value.

Wants to work with us in order to adjust.

Benefits from this value and.

And we open sharing their coffee a few weeks.

Based on the status of their calls hopefully maybe.

And what we're doing is going to get us towards bigger and why we shouldn't forget that.

Okay.

Thanks, I'll hop back in the queue.

Thank you.

If you wish to ask a question please press star and Bonnie on the telephone keypad.

The next question comes from the line of Jack Andrews from Needham and company. Please ask your question.

Okay.

Good morning, and thanks for taking my question, but I was wondering if you could talk a little bit more about your IP you talked about you've got the two patents that are granted and I think you said you have 28 that are pending could you help us think about the significance of these pending patents are there some that represent a potential <unk>.

<unk> for you in terms of ability to monetize your platform.

Yeah.

The hijacking in Texas, It's a very good question you know I mean, you nailed so questions about technology is always there.

Something I'm waiting for.

And so from day, one we invested a lot in technology and we understand that.

Being a new company you know starting a business being a startup one of the only advantages when you can bring to the game in initially.

The technology.

And we invested in building, there's algae tech team in bidding a lot of technology and protecting dollars right.

And then I'll take say, who we we have granted.

The patents pending.

In core areas of the business.

By the way could be found on the web something formation.

In areas for example, about Iran, Dave Anonymize the data.

Dynamic mandate was to adjust the difficult conditions drove up these though densities.

And there is around managing the consent.

Given the flexibility to adjust as you said the data privacy regulation.

And then in areas they'll say, how we normalize the data.

It's not an easy task.

Think about you know 10 so.

New York Cogs, sending data every couple of seconds that you'll need in no time to translate.

People want to watch the game, which was API.

So I hope you take the question I can also as we said before is that we added some more IP within Europe acquisition around the way they use AI and machine learning.

In order to create the mobility intelligent.

They are able to create conviction into the future and.

Not only into using data to understand what is happening now, but also production into the future. The last maybe two mentioned which is important in a jumpstart the Iraq privacy.

Yes.

It's strong the patent deal with where we ended the authentication of.

The drivers to make sure that's really when we start with safety data because we have ways to vary side that is really the first for them to call us.

Who they are.

I hope it answers the question Jack.

Yes, thanks, Thanks for sort of Flushing out the areas of your of your portfolio I appreciate that maybe just as a follow up question.

You know just given the slowdown in global auto production in general could you just update us on.

Insurance based opportunities.

Trying to think of whether that's a use case that would seem to be.

You know a potential demand for that independent of what's happening with with auto production.

So I've seen in the markets, where you'll be.

So there'll be eating out over.

Over the last two years.

And I believe that.

Coffee is a L P to accelerate further.

<unk> people werent driving at La India.

Do you want to pay the full premium.

And when the car is in the box being so you'd be a usage based insurance was a good path forward.

We are moving in this stuff.

We have number of pilots running on both sides of the pond.

I cannot.

I don't see an impact because of the shortage of vehicles.

Comes to mind on this segment in particular.

I can then choose to tell you that it's not helping the businesses they owed but we don't see any tremendous other sticks at this stage progress Cogs being shipped out.

I think that we are.

Such a big Blue Ocean.

They crush the growth opportunities.

And it's not something that I can say at this moment of the impact on the business today.

I Hope you take the question.

It does yes. Thank you very much for taking my questions.

Thank you. The next question comes from the line of Josh Nichols from B Riley. Please ask a question.

Yeah. Thanks, just had a follow up I know you've been working are providing some updated financials. You gave some info for the first nine months and more detailed info, but I think the first half of the year.

<unk> recently is there going to be a Q out or is there can be a more comprehensive released probably not till after the year with the annual report and just wanted to clarify because I know you've made some updates to the guidance is there any changes to the company's like 22 to 25 model that you've previously discussed or is that still.

Unchanged.

So as I said, Bonnie our Chief Financial Officer, who I suppose this hi, Thank you so with respect to the first part of your question.

And so we are in the early stages of our revenue generation and also this is the first quarter for us being a public company. Our focus is long term without creating a clear.

Tactical plan, which to date has already paid.

So we measure our growth and.

And we know growth can be quantified we've got several different kpis other than just revenues, especially for a company like I've seen a new market.

And Hum.

And we will not share more than walk with Sharon.

They did that with respect to Q3, a number of you.

Lately, we are legally.

It required to share hours once he asked on that side, it's going to be the first time, where we keep our full blown financial statement.

So let's go for the first part of your question and for the second part.

We are.

Second part you asked about the targets, we put for 2021 'twenty two 'twenty 25. So are we are we are really focused on ramping up all aspects of the company are definitely built into Reits out.

Our society are already reach data offering expanding our team and a similar talent.

Of course, boosting our traction across the direct and indirect sales channels.

These airports are already ramped.

Results with increased number of Mexican plc with enterprises like the leased land Ben mentioned market leaders channel partner like a salesforce in AWS and we do anticipate these Tyler.

Turning to significant pain customers going forward.

And in addition that we continue to explore opportunities for Nonorganic Cogs growth.

And we think that's all these points are in line with our plan to scale up our revenue having said that we are now using our targets for 2020 to consider even got legs or slower movement into the ecosystem, we encountered in 2021.

As was discussed.

This capped a earlier by then.

Thanks, that's all for me.

Yes.

Thank you no further questions I would like to hand off the call.

To call, what's going on with T O. He for closing remarks. Please go ahead.

Thank you all for joining today.

Going forward to seeing you on the next earnings call.

Thank you very much.

Yeah.

That does conclude our conference for today. Thank you for participating in the disconnect have a nice day speakers. Please standby.

Yeah.

[music].

Yeah.

Okay.

Yeah.

Yeah.

Yeah.

[music].

Okay.

[music].

[music].

[music].

Thank you operator, and thank you all for joining US today welcome to autonomous nine month, 2021 business update call before we begin I would like to remind our listeners that certain information provided on this call may contain forward looking statements.

And the Safe Harbor statement outlined in today's earnings release also pertains to this call. If you have not received a copy of the press release. Please download one from the Investor Relations section of the company's website.

Today's call is accompanied by a Powerpoint Powerpoint presentation, you're welcome to view the presentation Autonomous Investor Relations website.

In business, such as competitive technological regulatory and other factors could cause actual results to differ materially from those expressed by the forward looking statements made today.

Historical results are not necessarily indicative of future performance. Therefore, we gave we can give no assurance as to the accuracy of our forward looking statements and assume no obligation to update them, except as required by law.

Today, we're joined by Ben Volk co CEO and co founder of autonomy. He will start off with an update of the business. Following his prepared remarks, we will open the call for the question and answer session and then Ben will be joined by Bunny mobs Chief Financial Officer.

I'm, an executive Vice President strategy and corporate development.

With that I'd like to pass the call over to Ben Fogle Ben. Please go ahead.

Hi, everyone and thank you for joining us for the normal third quarter business update conference call.

Today, the presentation will focus on recent developments and then elaborate on our unique technology and offerings.

We will also discuss market trends and our.

Sure.

Please go to slide three.

So normally these being the world's largest mobility ecosystem powered by data and you can tell.

Correct.

Data.

Okay.

Hi.

The foundation for the future of mobility.

I'll, let Scott take or normal.

Make sure the data intelligence.

Sure.

More quick tie in here.

Uhm.

Siloed data, there's no drug.

Data that cannot be denied.

What's driving.

The value of data.

As always when you Sherry.

Sandeep you got because I.

The power in the daytime demo.

Based on it.

And can be felt across the transportation and automotive industries and enterprises Israel.

The future automotive and mobility in Europe by data.

Let me say Grand vision.

But he is already our reality.

So normal mission to bring it to a global scale.

Moving to slide four.

I'd like to quickly explain what we do.

Our first quarterly conference call.

We have newly bestowed on design we've got.

Although novel fuse that data ecosystem.

Great and more than 100 service provider.

Sandy.

Patient morbidity and mortality.

In Q3.

That's pretty soon.

So the new OEM agreement.

Bringing our total number of contracts up to 'twenty one.

These represent on grid guide data.

Data attributes.

The total non do connected car.

So you agree.

Over 40 acre.

These two.

Voting for video and data points being generated till date.

With our platform.

Therefore, our revenue segment.

And more than three.

Also referred to as B to B aggregate data used by Peter.

Peter and Rafi companies.

Data.

Services.

User based insurance.

At the moment.

Number two granted patents.

And then not again and you're right Nishu.

A total of 28 patents pending.

Paul from what's the number and call more from Europe.

With the new acquisition.

We added not only amazing technology.

And then talk notes technical team.

But also access to data.

Syed from who already 30 million mobility devices.

This opens up a number of grasp or two that might be devices.

Ability to find areas of activity, such as micro mobility, and a deeper understanding of the automotive and mobility intersection.

As you can see we are moving in big step to realizing our vision.

I will move to slide five.

I'm sure. Most of you also need to we did okay.

I know you see the future of mobility within the segment model.

Okay. Thanks for connected ultra no more share in the next two slides.

They are clearly dosing up to normal should an extra five data yet.

Well, it's a nominal.

And that's been a key leader in the clinic.

Okay.

We enable the Oems to show data and intelligence from their connected vehicle.

And they all the equity and benefit from the resulting morbidity related or morbidity based services.

Right.

<unk> 55.

All benefit.

I'm delighted to share that broker normally think discussions with these companies mentioned on the right.

This is another proof point showing.

The value, we unlocked for the different segments.

Slide six.

We are well positioned for what is to come.

Although normalized very strong technological base salary our data platform.

Our data.

Is there a need there amongst the industry reached it.

And he is a proxy.

As we mentioned before.

Data, if Europe Asia III.

Our business and the foundation for our growth.

We have built a truly comparative people for me with unparalleled value.

We have an extensive and growing quality <expletive> of OEM, providing that data.

Our ecosystem of data, you'll merit and channel partnerships.

We're growing.

We have a strong balance sheet that fit both our business plan for the years to come.

Oh deep clearly.

We'll put these shares to boost their mobility industry forward with our data and mobility intelligence.

I'm moving to slide seven.

So it is profitable partnerships are top priority for us.

And then you can grow with our go to market.

These relationships are a week.

Providing value for.

The quotes here on the slide <unk>.

Okay I'll follow up.

Current partnership.

We have shared information in the past.

They both AWS and sells both products.

And some of the others.

All of which we are very excited about.

There's a lot more to come here.

We look forward to sharing the news about upcoming new partnership.

The near future.

Slide eight.

We are seeing traction in these areas.

And these data.

The first one is the infrastructure and smart.

We see more and more cities and.

<unk> lease restructure support organizations such as <unk>.

Using data to reduce costs.

Optimized spa yeah, there is.

Cost structure <unk> traffic.

We the reason I did announcements.

We expect even more traction and more budget coming in.

Amazing to see how the private real estate.

Connected cars.

Can't really show.

It brings so much value in this domain.

We feel more and more requests.

Iran traffic optimization and transportation planning.

One is the right thing.

I mean is everything around EBITDA.

In Egypt.

For example, understanding carbon footprint in areas or P. J Oems.

Their carbon footprint.

Using cloud data.

This is almost a segment that was non existent capital some months ago.

I know you take more and more of the central States.

Equally adoption is one of our fastest growing segment.

Yes exactly.

On one side, creating a lot of data.

Cause that based upon new architecture. The data, we're taking on both from the from the beginning.

And at the same time, there could be there.

It requires a lot of data optimization.

I understand for example, the Q&A the charging station.

Understand.

There are four different charging station.

It's been that way to deploy new charging stations.

Based on the power grid.

Thank you Rob.

We really see a boom in the amount of Prepays.

The segment.

<unk> data and intelligence.

Did I say not really.

Management pixel.

We talked to you that answer in the past about how using the data we really revolutionize the sweet pickle.

The Threep Tectal database based on Mackenzie prediction is expected to grow 60% by 'twenty five.

Because of electrification because normally because of the recent.

This is a huge blue ocean.

And we are coming with the new altering rewards is available until today.

Sweet and fleet management companies to move.

More than two a software model.

Youre seeing the embedded more than meet the car instead of the NAFTA market.

Moving on to slide nine.

I wanted to share with you some of the main growth train.

That said we see.

To give you a bit more visibility into some of the changes we've seen in the market.

We see auto make hill's shifting towards personalized services.

It was always.

A choice the choice of the summer.

To make a difference.

Local makers prefer to jump into the data what the aggregate data.

Dave <unk> to jump into those waters with the likes of that.

We definitely see the peso I services, taking more and more.

At this stage, we see more and more automakers more and more Oems.

This does with specialized services.

The reasons for that and we would be happy to elaborate.

We see also rising demand for diversified data types.

You can deal with the days.

The industry was expecting from connected cars.

Who else he called data is also research with SPD.

Very base, because they really make their deficit.

Good day.

The demands are much higher.

Traffic side.

Good reaction.

Sorry, ultrasonic data, but the rebate.

Date, the data are all on the table at the old requested.

It's great to see that they need to understand the power of the data diversity and.

And how much things they.

They build.

And we see the rebuilding and growing demand to reach to that state.

But I wonder if there's such a body of data there.

Great.

This is Anthony.

The third point multi brand offering for B to B C.

B to B and B piece of Cogs personal data use cases.

And we see there.

This ecosystem coming and demanding a beauty brand in North Korea.

Because if you took the insurance company to talk to it.

It will tell you that they have many many Oems see their fleet, though I do with their insurance.

Coverage.

Yes.

Before he is excited about this.

Need a multi Brad.

They don't want to go OEM by OEM contract close out ACI by API.

She had a dictionary by debit dictionary.

<unk> multi brand support.

And again.

This is part of the value that we bring masquerading the defense OEM complexities.

So really it's one unified.

One unified dictionary.

I will move to talk about some intelligence that.

We see and with the new acquisition.

We are now able to walk there instead of just they're not just data.

Yeah.

The first dimension is the demand for aggregates based intelligence.

We are facing growing amount of privacy consent.

Thank God this before us is their number one priority.

We will make sure that never jeopardize being respected indeed.

We are all drivers and we want to treat our customers the same way we want to be treated.

I think the ability to offer intelligent.

E site analytics.

The low data.

There are many places to overcome.

Thank God this feature.

The biggest need to provide the dashboard and not the raw data.

Enable many of our ecosystem partners to get the insights they want without having to deal with complex drive to see challenges.

I mentioned before that we see also make is shifting towards personalized services.

As part of feet, we see also in <unk>.

As people data intelligent thought there.

P 50 shell, sometimes intelligent instead of Pearl data was the southeast.

What would the ability to understand their data better.

Oems are generating huge amounts of data.

It's not an innovation project anymore.

I think that is a big part of their business has a huge potential.

Per unit cost there.

Yeah.

To understand better the data to see how they can utilize embedded petroleum.

And again with our mobility vintages.

Probabilities.

We are able to offer them.

More insight and understanding of their data.

Absolutely.

I am moving to slide 10.

As recently announced our.

Our new acquisition <unk>.

Q4.

But I think the other capabilities and intelligence offering to anticipated.

We doubled our total addressable market.

Two about Hudson this $40 billion.

The intelligence offering.

The REIT because inside there and value for our customers.

He says I would look for novel.

Is there one folks so solution for connected car data and.

Based on the meetings.

This value.

Glad to materialize.

In our two revenue streams.

The data market, great and now with SaaS to portfolio.

As we gain more and more market share.

And the market and the OEM contract.

I'm not sure.

Yeah.

Please join me on slide 11.

I'd like to discuss.

Some extended mobility.

Diligent solution.

We have been adding we did your acquisition.

We empower transportation plan than we do inside into mobility need and multimodal demand.

Which is necessary for the pending in building.

Thanks Keith.

Thanks, Steve.

<unk> Nikko.

But there isn't anything up to date external mobility side, we can support data driven decisions that create.

Accurate measurable and eco low Cogs network design.

We also boost EV charging station.

This is going through a process of electrification by optimizing the location selection and utilization or charging station deployment.

So of course, it's maximizes our ROI and services.

This capability or.

It's mostly <unk>.

You think morbidity event.

Well, we have active discussions with permanent nekoosa patient care.

Data driven electrification panels.

Accurate measurement of demand for EV charging in every part of the week.

We precise mopping robot to rezone across primary corridor and better understanding of easily mobility pocket.

In addition.

We have three and.

In March provided increased their operational efficiency and ROI.

Really in clusters of demand.

Today's provided to make the supply and demand to optimization location, we have a pacing their resources.

Rebalancing the street.

In addition, I worked right.

Europe much more towards the normal.

Amazing technology.

This included strong as trust growing order book.

Accelerating business engagement.

And talk notes engineering and data science teams.

We already April we ended this customers for the newer technology.

Utilities and power companies as customers the newest technology.

And smart cities and mass providers that are using the new mobility and in fact technology. So we are very excited from the traction we see it.

What is coming.

We've been getting great feedback from the market.

We did the acquisition of the normal provide the data privacy consent management to real application ready data and then at least to cut walk page delivering actionable intelligence.

Okay.

Looking at slide 12.

We can see the strong momentum.

Assigning key OEM contract continues.

We have 21 OEM contract size.

Five of them with side in Q2 Q3.

We also added three data extension to the existing OEM agreement.

Why does data partnerships.

We are very proud of the new agreement five newly and agreements in six months.

They walk in the park and the extension is assigned to tell their partners I E from the collaboration.

See the value we bring then turned it back potentially for their business and they keep supporting <unk>.

Father, and proud Theyre building the join fees.

Our pipeline is growing also in parallel to the data right.

This represents a 60% growth.

Data visit their facilities, and then 70% increase in street activation opportunities.

This is moving in the guide we tell everybody that's great.

Those are some of the Kpis, we are using to track the business progression.

This is clear indication that the maturity of the market increase this quarter.

Quarter over quarter.

And that our business plan is on target.

Now onto slide 13.

Here are a few more metrics on the business that we wanted to share.

The sales team is growing spot to meet market demand.

Across geographies and industries.

We would be happy to move faster, but.

Strive to maintain quality and not compromise on Kevin.

Having said that we recently made this year.

With vast experience and industry experience.

For example, our new CFO joined.

Join US please don't come recently.

During Q3, we have made some significant additions to our sales and go to market team.

Adding key tenants with vast industry experience.

The tie to choose the best setting we continue to expand and grow these teams putting us on a direct path.

<unk> future growth.

Our product team has more than doubled the sales to support our product roadmap.

We are bringing to market a growing set of comparative Steve too.

You can see the increase the reason engagement.

It's really going through the roof.

This is a result of our effective and extensive thought leadership activities. However, broad activity is generating.

<unk> generating an increase in the lead and engagements.

All such Joe media channels.

I'm moving to slide 14.

He reason addition, I look.

F Q3.

To give you some more visibility to the progress being made.

Great.

Strong engagements for our unique offering with youth debate engagement growth.

Which is more than 20%.

We shared in the last few months.

Partnership for example.

I can tell you because ive been key king with Cogs.

Data engineering revenues and this is one example.

The Salesforce partnership.

We are delighted about this we are forming strong collaboration we are running multiple pilots and adding some very exciting industry changing in discussions with.

We hope to share more news indeed.

<unk> future.

Strong OEM growth.

<unk> shared with you that we signed five agreements in the last six months.

So three extensions to existing contracts.

We have number of additional OEM contract in the Nikkei Red line factor.

We hope to sign and announce soon.

Yes.

Mitsubishi Motor Corporation.

We are discussions with Mitsubishi.

Guarding entry into a new commercial arrangement.

It was designed with the technological and market lead vocal policies.

In the meantime, our it could take a market based agreement.

Yeah, So that's disagreement.

Both unique in their contract structure or not.

Great.

While we work on the bigger vision and collaborations.

I am moving to slide 15.

Here on slide 16.

We fight for CRO.

A guy thank our near term activities.

Those are things that we're doing every day.

We are working on increasing our channel.

Really enabled us to supercharge, our go to market plan.

Well we have relationships.

But as I said, both the crowd and we work hard to maintain our positive to us and did cause extra sheets with new automakers.

Go Gracias.

Kevin.

And then as they should.

I agree.

It has to meet market demand.

Launching a new features and additional morbidity intelligence to ensure.

Sure as we continue to be on the cutting edge.

Bye.

Value.

Our ecosystem.

Thank you very much.

Operator, we are ready for the Q&A session.

Thank you Gabe participants we will now begin the question and answer session and you will find that if you wish to ask a question. Please press star and one on your telephone keypad and makes her name to be announced.

The first question comes from the line of Josh Nichols. Please ask the question.

[noise].

Yeah, Hey, thanks for taking my question.

I wanted to ask a little bit about the integration with neuro I know, it's been only a little over a month, but when do you think the company is going to be releasing some of its AI solutions to your existing OEM and channel partner base.

I know, it's not going to be a major revenue contributor this year, but could you elaborate on some of the opportunities and expectations for 'twenty, two and potentially beyond.

Yeah.

So Josh and thank you for the question.

So really we announced.

The acquisition of Euro it's out there.

Five weeks ago.

But of course, we've been walking the trenches and the new data is both it's for many weeks before.

And.

It's going with <unk>.

It's a bit of almost no no Knoxville game, you know that they are based in Israel is a milestone that we all see.

We've been working together and having discussion before.

So there aren't many surprises.

We see.

Strong demand in the market.

Even more than we anticipated, we really were planning to take baby steps.

And with the push and pull from the market and the sales team.

We.

Yeah, a lot of excitement from our ecosystem from the ability to offer not just the raw data, but also to help intelligence an adult.

Even though our ecosystem the biggest be really we've taken a lot of the walk away.

The fact that under one roof, we have both the data and intelligence.

But as we get deeper inside the.

He said no.

I think that you could get when you get those two from different places.

Oh, it must be about Soma.

Unique positioning in the market.

I hope it turns to the question at least the pull up a pizza elaborate in more detail.

Yeah no. Thanks that provides some good clarity and I was going to ask you talked a lot about end markets and a lot of big opportunities that you guys are starting to touch on there.

What one or two end markets are you seeing the most early stage traction in today that you think are going to have the quickest adoption and potential to kind of scale. The early revenue model over the next year or so.

Yes.

So I will try to pick one from the personal data side and one from the aggregate.

They're all my son.

And I think that's on the personal it's definitely suites.

And it's a strong offering.

In the values.

Values of the fleet or the fleet management companies to move from hardware to software.

And pay only for the date that you could assume you'd have no downtime you don't need to install anything they are not surprising.

And the more they can switch of stopping that moves forward nicely. We mentioned that it can play an exhausted, which is I think is the biggest leasing company on the planet about Silvio Cogs generate you read the news weekday and growing very nicely that many other sleep.

We hope to be able to show names in the near future. That's one segment.

If I need to pick another segment that we talk about everything around.

The fees and transportation management.

We've seen robust budget smooth again.

And boom in Rfps in the other side.

And I believe it was the number for this is quite unique.

And positioning on one side, we have very diversified data.

Yeah.

Protocol data.

New use cases.

No no.

We.

Instead of James we're able.

To provide not just the data but also.

Dash Board.

That does a lot of the digestion.

To be done on the on the CTO side and they love. The fact that we can really take the lead it out of the iceberg for them.

Those are two examples I hope we answered the question.

Yeah. Thanks for clarifying that and then if you could kind of elaborate a little bit I guess.

So you're in discussions with Mitsubishi right.

But previously you had an agreement in place that is not in there now as you work to kind of expand that to potentially broader vision. As you mentioned does that have any like revenue impact to the quarter for the first nine months of the year or expectations for for Q I didn't notice that obviously are you.

Guidance for the year is kind of heavily fourth quarter weighted I'm. Just curious if you could elaborate on that impacted also what's kind of implied to get to the four key revenue jump.

700 to 800000 herself.

Yeah.

So the.

Studies 40 day agreement Mitsubishi our SaaS model customer.

And we provide them day our Iot.

Which enable them to work.

Enjoy the benefits of data and the value of data before they're fully infrastructure in place.

Now did that putting the infrastructure in place.

I ask us to open the contract.

And discuss if we can help them with different auditioners, that's our model.

Just to the new architecture.

So to add additional markets to their cooperation.

In the meantime.

We used our existing contract why we work with the new one.

They are going to be.

A revenue impact, but this revenue impact is already baked into the focus that we ship.

So the numbers that we shared the updated numbers for the year and of course the associated number that you can.

And the central dead for Q4 already take into account that Mitsubishi.

Changes in contract reviews, it something positive.

They see additional value and want to work with us in order to adjust.

Benefits from this value.

And we hope to sharing their coffee a few weeks.

Date on the status of the account hopefully really.

We are doing going together towards bigger and wide open.

Okay.

Thanks, I'll hop back in the queue.

Thank you.

If you wish to ask a question please press star and Bonnie on the telephone keypad.

The next question comes from the line of Jack Andrews from Needham and company. Please ask your question.

Okay.

Good morning, and thanks for taking my question.

But I was wondering if you could talk a little bit more about your IP you talked about you've got the two patents that are granted and I think you said you have 28 that are pending could you help us think about the significance of these pending patents or are there some that represent a potential <unk>.

Catalyst for you in terms of ability to monetize your your platform.

Hi, Jake and then Texas, It's a very good question you know I mean.

So a question about technology is always there.

Something I'm waiting for.

And so from day, one we invested a lot in technology and we understand that.

Being a new company, you know starting that business being a startup one of the only advantages.

Bring to the game initially is the technology.

And we invested in building, there's algae tech team in bidding a lot of technology and protecting dollars right.

And then I'll take say, who we we have granted and the patents pending.

And core areas of the business some.

Some of it by the way could be found on the web inflammation.

Inflammation.

We've seen areas for example, about Iran. Anonymize the data in dynamic mandate was to adjust to different drought conditions drove up CFO density.

In areas around managing the concern.

Really giving the flexibility to adjust to be said there.

Data privacy regulation.

And then in areas they'll say, how we normalize the data.

It's not an easy task.

Think about you know 10 so.

New York Cogs, sending data every couple of seconds that you'll need in no time to let it go to widen was angry Jawad API.

<unk>.

So I O P 10. So the question I can also as we said before is that are we.

We added some more IP and we didn't.

Acquisition around the way they use AI and machine learning.

In order to create the morbidity intelligent.

They are able to create conviction.

Into the future.

Not only into using data to understand what is that.

Can you do now, but no prediction of the future at the last maybe two mentioned which is important in a jumpstart.

Iraq privacy.

We have it.

So on the patent there or where are we ended the authentication.

Why does it make sure that's really when we sell and service. These data because we have ways to vary side that is really the person in the car.

Uh huh.

I hope it answers the question Jack.

Yes, thanks, Thanks for sort of Flushing out the areas of your of your portfolio I appreciate that maybe just as a follow up question.

Just given the <unk>.

Slowdown in global auto production in General could you just update us on.

Insurance based opportunities.

Trying to think of whether that's a use case that would seem to be.

You know a potential demand for that independent of what's happening with with auto production.

Okay.

So I've seen in the markets for UBI.

There'll be eating up.

Over the last two years.

And I believe that.

Coffee is the AFC to accelerate if other people were driving at la.

And do you want to pay the full premium.

And when the colleagues in the parking so Upi usage based insurance was a good path forward.

We are moving in this stuff.

We have a number of pilots running on both sides of the pond.

I cannot.

I don't see an impact because of the shortage of vehicles.

Comes to mind on this segment in particular.

I can name two to tell you that it's not helping the businesses they owed but we don't see any instrument that is fixed at this stage, so Greg Cogs being shipped out.

I think that we are.

In such a big Blue Ocean.

But for us the growth opportunities.

And it's not something that I can say at this moment.

The impact on the business today.

I Hope you take the question.

It does yes. Thank you very much for taking my questions.

Thank you. The next question comes from the line of Josh Nichols from B Riley. Please ask a question.

Yeah. Thanks, just had a follow up I know you've been working are providing some updated financials. You gave some info for the first nine months and more detailed info, but I think the first half of the year.

<unk> recently is there going to be a Q out or is there can be a more comprehensive released probably not until after the year with the annual reports and just wanted to clarify because I know you've made some updates to guidance is there any changes to the company's like 22 to 25 model that you've previously discussed or is that still.

Unchanged.

So as I say, Bonnie our Chief Financial Officer, who I suppose this hi, thank you.

So with respect to the first part of your question.

And we are in the early stages of our revenue generation and also this is the first quarter for us being a public company. Our focus is long term without creating a clear.

Tactical plan, which to date have already right.

So we measure our growth and we know growth can be quantified we've got several different kpis other than just revenue.

Especially for a company like I've seen now in your market.

Hum.

We will not share more than walk with share buyback.

By that I mean, they did.

That with me.

We expect Q3 numbers, obviously, we are legally required.

Required to share our 20th that it's going to be the first time, where people are full blown up.

Financial statements.

Going forward. The first part of your question and for the second part.

We are for the second part you asked about the targets, we put for 2022 and 'twenty till 2025. So we are we are really focused on ramping up all aspects of the company.

Building the right product.

We're supplying our already reach data offerings, expanding our team in the center.

Where our talent and of course, boosting our traction across the direct and indirect sales channel.

These efforts are already.

Reaping results with increased number of significant plc with enterprises like the leased land Ben mentioned, a market leader channel partner like a salesforce in AWS and we do anticipate these Tyler will turn into significant paying customers going forward.

In addition, though we continue to explore opportunities for Nonorganic growth.

And we think that all these points are in line with our plan to scale up our revenue having said that we are now using our targets for 2022, considering got legs or slower movement into the ecosystem, we encountered in 2021.

As was discussed.

This capped out by.

Hi, Ben.

Thanks, that's all for me.

Okay.

Thank you there are no further questions I would like to hand over.

To kind of I'll call, what's going on with C. L. King for closing remarks. Please go ahead.

Thank you all for joining today.

Going forward to seeing you on the next earnings call.

Thank you very much.