Arbe Robotics reports Q4 EPS (15c), consensus (13c)

Reports Q4 revenue $350K, consensus $3.97M. “We are proud of our accomplishments in 2023, as our production intent chipset has been successfully delivered, and is currently undergoing rigorous automotive qualification processes towards mass production. Our industry-leading radar solutions are not only redefining road safety but also driving the hands-free revolution,” said CEO Kobi Marenko. “Despite market delays resulting in extended decision times, OEMs have expressed enthusiasm for our solutions. The anticipation surrounding our offerings is high, and we expect to announce substantial customer wins in 2024. In 2023, Arbe‘s Tier-1s achieved substantial progress in system development, positioning the Tier-1s to enter the production and commercial phases in 2024. Additionally, our strategic focus on expanding our Total Addressable Market by targeting non-automotive sectors is proving successful. We foresee accelerated technology adoption by several non-automotive players.”