Arbe Robotics reports Q4 EPS (25c), consensus (14c)

Reports Q4 revenue $150K, consensus $1.95M. "Throughout the year, our primary focus was on integrating our technology with automakers to highlight the pivotal role of our radar technology in Level 2+ driver assist solutions. We remained committed to developing leading innovations, to forging stronger collaboration with our Tier 1 partners, and to executing on Arbe‘s strategy to enter the commercial stage." said CEO Kobi Marenko. "Our Tier 1 partners are making significant investments to secure a timely path to production. Arbe recently achieved certification of its RF chipset for the Japanese market and have already begun a development project with a leading Japanese automotive company as well as field trials with Tier 1s and automakers in the region, opening a new, important market for our company. We are pleased with the progress we made in 2022, as we have reached an exciting milestone, transitioning from the proof-of-concept phase to the production stage, where we can deliver our advanced solution to the market. As we continue to gain significant momentum and see increased demand from industry leaders, we believe that Arbe is well-positioned for growth in the coming years".