Locust Robotics
+1.74%
closure:0
opening:6.8
High:7.19
low:6.76
cycle:—
Page Quote News Graphs Company Profile Recommendations
More articles on the subject:
(NYSE: ARBE) The Israeli company that trades on Wall Street, and has developed radar solutions for cars, announced revenues of about $ 0.5 million in the fourth quarter, an increase of $ 0.2 million compared to the corresponding quarter last year.
The net loss for the quarter was $ 15.8 million, including $ 1.9 million in financing expenses, compared to a net loss of $ 4.5 million in the same period last year. The net loss for 2021 was $ 58.1 million, mainly due to a revaluation of loans and conversion options, compared to a net loss of $ 15.6 million in 2020.
forecast
Management provides a forecast for 2022. Based on current estimates. Revenue is expected to range from $ 7 million to $ 11 million. Below the analysts’ consensus estimate stands at $ 13 million.
Adjusted EBITDA profit in the range of ($ 34 million) to ($ 38 million), is mainly attributed to the increase in labor costs, mainly in R&D, exchange rate effects, and costs arising from legal, accounting and general expenses added due to the transformation of Locust into a public company.
“2021 was a turning point for Arbe, a year in which we became the radar company for the first car traded on the Nasdaq, and our technological vision became a reality,” Said Labor CEO Kobi Marenko. “In the past year we have achieved our goals earlier than planned, recruited large customers, established strategic relationships with global Tier 1 companies, and sold systems to over 30 customers. Our imaging radar delivers the best performance in the industry, enables free space mapping and safe autonomous driving at 2.5 and 3 without the need for expensive sensors such as LiDAR.
Arbe continues to lead the field of car radar, and we believe that even today our technology exceeds the expected performance for 2025 of our competitors. We continue to work with leading automakers, and moving forward towards manufacturing, the consensus regarding the vital role of radar imaging in the global automotive market is expanding. We believe that Arbe is in a good position to gain significant market share as the market adopts advanced technologies. “
.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment