Arbe Robotics reports Q3 EPS (18c), consensus (16c)

Reports Q3 revenue $500,000, consensus $740,000. As of September 30, Arbe had $23.5M in cash and cash equivalents and $25.6M in short term bank deposits with no debt. “We’re very pleased with the progress by our team and Tier-1s during the Q3, including the significant milestones we’ve surpassed with leading OEMs,” stated Kobi Marenko, CEO. “Arbe is now in the concluding stages of various OEM selection processes. The market is signaling the rising significance of Imaging Radars as a backbone of the automotive sensor suite, and Arbe’s cutting-edge technology is uniquely positioned to meet this demand. I’d like to extend my gratitude to our team, whether they are currently serving in Israel’s armed forces or fully dedicated to ensuring Arbe continues to execute our business priorities as planned.”