Joshua Nichols

Joshua Nichols inquired about the implications of the new organizational strategic changes on VPG's growth prospects and whether updated long-term financial targets would be provided. He also asked for details on the new third humanoid development customer, including its size relative to existing customers and potential production timelines, and the company's progress in discussions with other humanoid developers.

Answer

CEO and President Ziv Shoshani detailed that the new COO and CBPO organizations aim to standardize processes, improve operational efficiency, and optimize sales and business development. He noted that a new financial model reflecting these changes would be introduced soon. Regarding the new humanoid customer, Ziv stated it is smaller and in the design configuration stage, with no clear production timeline yet. He confirmed ongoing dialogues with many other humanoid manufacturers globally, awaiting prototype orders.

Joshua Nichols asked about the implications of the new organizational structure (COO and CBPO) on VPG's growth prospects and whether the company plans to update its longer-term financial targets. He also sought details on the third humanoid development customer, including its size and production timeline, and inquired about discussions with other potential humanoid customers.

Answer

CEO and President Ziv Shoshani explained that the new COO and CBPO organizations aim to standardize processes, improve operational efficiency, and optimize business development, supported by new IT platforms. He reiterated the $6 million cost savings target for 2026 and a $45 million business development target, stating that a new financial model reflecting these changes would be introduced soon. Regarding the third humanoid customer, Shoshani noted it is smaller and in the design configuration stage, with VPG's infrastructure ready for future production ramps. He confirmed ongoing dialogues with numerous other humanoid manufacturers globally, hoping for future prototype orders.