Arbe Robotics (ARBE) has released an update.
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Arbe Robotics reported a challenging Q3 2024 with a net loss of $12.6 million, amid decreasing revenues and negative gross profit. Despite financial setbacks, the company made strides in OEM collaborations, enhancing radar technology adoption with major automotive partners and securing a $49 million capital raise to support future growth. Arbe remains optimistic about increasing demand for its innovative radar solutions beyond the automotive industry.
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