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Arbe Robotics .(ARBE) - 2023 Q3 - Earnings Call Presentation
2023-11-08 23:06
Radar Revolution. Delivered. Q3 2023 Financial Results v Disclaimer This presentation and any statements made at the conference call and webcast referred to in this presentation, contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "may," "should," "strategy," "future," "will," "project," ...
Arbe Robotics .(ARBE) - 2023 Q3 - Earnings Call Transcript
2023-11-08 23:06
Financial Data and Key Metrics - Total revenue in Q3 2023 was $0.5 million, a decrease from $1.3 million in Q3 2022, in line with longer OEM implementation timelines [11] - Gross margin for Q3 2023 was 24%, compared to 72.5% in Q3 2022, due to reduced quarterly revenue with a fixed cost portion in cost of goods sold [11] - Operating expenses in Q3 2023 were $11.7 million, slightly down from $11.8 million in Q3 2022, driven by lower R&D and G&A expenses [12] - Adjusted EBITDA loss in Q3 2023 was $7.5 million, outperforming expectations, compared to a loss of $8.4 million in Q3 2022 [13] - Net loss in Q3 2023 was $11.7 million, compared to a net loss of $9.9 million in Q3 2022 [13] - Cash and cash equivalents as of September 30, 2023, were $23.5 million, with $25.6 million in short-term bank deposits and no debt [14] Business Line Data and Key Metrics - Arbe is engaged with four top Tier 1 companies: Magna, HiRain, Weifu, and Sensrad, all of which advanced to the production of radar systems based on Arbe's chipsets in Q3 [5][6] - Preliminary chipset orders from China for 2024 and 2025 include an $11.6 million order from Weifu and a 340,000-unit order from HiRain [7] - The company is awaiting final confirmation for two prominent truck projects, which, along with passenger vehicle OEMs, represent 31% of the global passenger vehicle market [6] Market Data and Key Metrics - Arbe's technology is in the final stages of selection with prominent European, American, and Asian OEMs, representing 31% of the global passenger vehicle market [6][14] - The company expects revenue to be in the lower range of $5 million to $7 million for the year, with adjusted EBITDA loss projected between $32 million and $35 million [14] Company Strategy and Industry Competition - Arbe aims to become a leader in perception radar solutions for the automotive industry, with its imaging radar technology expected to become the standard for most passenger vehicles by the end of the decade [6] - The company is ahead of competitors in terms of production readiness, with a 1.5 to 2-year lead in imaging radar technology [25] - Arbe's imaging radar is priced competitively at around $150-$160 for a front-facing radar, making it a cost-effective alternative to LiDAR [35] Management Commentary on Operating Environment and Future Outlook - The company's operations in Israel remain unaffected by the ongoing conflict, with manufacturing and production carried out in Germany by GlobalFoundries [9] - Arbe's cash balance ensures sufficient funding until the second half of 2025, with preliminary orders from China expected to help the company reach breakeven [8] - The company anticipates revenue ramping up from the second half of 2024, mainly in 2025, 2026, and 2027, driven by final decisions from OEMs [23] Other Important Information - Arbe welcomed Professor Yonina Eldar to its Board of Directors, bringing expertise in electrical engineering and radar theory [8] - Around 20% of the team was called for military duty, primarily affecting long-term projects, but immediate client support capabilities remain intact [9] Q&A Session Summary Question: Operational challenges due to the conflict in Israel - The company has prioritized tasks, with next-generation chipset development delayed, but current customer activities remain unaffected [17][18] - Feedback from prospective customers has been supportive, and the company continues to operate with a remote and hybrid work model [17][18] Question: Conversion of preliminary orders into shipments - Finalization of contracts between Tier 1 partners and OEMs is expected by the end of 2023 or early 2024, turning preliminary orders into actual orders [20] Question: Revenue ramp in Q4 2023 - The company expects decisions from 5-6 OEMs by year-end or early next year, with revenue ramping up from the second half of 2024 [23] Question: Competitive landscape in imaging radar - Arbe is ahead of competitors like Continental and NXP, with a 1.5 to 2-year lead in production readiness [25] Question: Timeline for OEMs to integrate imaging radar data - Data collection and algorithm training typically take 6-12 months, with initial data collection already underway [29] Question: HiRain's 340,000-unit order shipment timeline - The majority of shipments are expected in 2024, with potential for some shipments by the end of 2023 [31] Question: Truck projects and market dynamics - Arbe is engaged with two prominent truck manufacturers, focusing on ADAS functionalities for trucks [33] Question: Imaging radar adoption and pricing - Imaging radar is expected to become standard on all cars by the end of the decade, with pricing competitive against LiDAR [35][37] Question: Market penetration beyond 31% of global passenger vehicles - Early adopters, particularly premium car manufacturers, are the primary focus, with broader adoption expected over time [37]
Arbe Robotics .(ARBE) - 2023 Q3 - Quarterly Report
2023-11-07 16:00
Exhibit 99.1 Arbe Announces Q3 2023 Financial Results Key Q3 and Recent Company Highlights: TEL AVIV, Israel, Nov. 8, 2023 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ: ARBE) ("Arbe"), a global leader in perception radar solutions, today announced financial results for its third quarter, ended September 30, 2023. ● Magna, HiRain, Weifu and Sensrad, Arbe's Tier 1s, keep progressing towards radar system production based on the Arbe chipset. ● The Tier 1 radar "B Samples" (production intent systems) utilizing Ar ...
Arbe Robotics .(ARBE) - 2023 Q2 - Earnings Call Transcript
2023-08-09 20:06
Arbe Robotics Ltd. (NASDAQ:ARBE) Q2 2023 Results Conference Call August 9, 2023 8:30 AM ET Company Participants Miri Segal - Chief Executive Officer of MS-IR Kobi Marenko - Co-Founder and Chief Executive Officer Karine Pinto-Flomenboim - Chief Financial Officer Conference Call Participants Gary Mobley - Wells Fargo Jaime Perez - RF Lafferty Matthew Galinko - Maxim Group Suji Desilva - ROTH Capital Operator Good day, and welcome to the Arbe Robotics Second Quarter 2023 Earnings Results Conference Call. [Oper ...
Arbe Robotics .(ARBE) - 2023 Q2 - Quarterly Report
2023-08-08 16:00
Exhibit 99.1 Arbe Announces Q2 2023 Financial Results TEL AVIV, Israel, Aug. 9, 2023 -- Arbe Robotics Ltd. (NASDAQ: ARBE) ("Arbe"), a global leader in perception radar solutions, today announced financial results for its second quarter ended June 30, 2023. Key Q2 and Recent Company Highlights: ● Weifu High-Technology Group placed an $11.6 million preliminary order for radar chipsets which will enable Arbe to meet Weifu's estimated requirements for 2024, for customers across China. Additionally, Weifu placed ...
Arbe Robotics .(ARBE) - 2023 Q1 - Earnings Call Transcript
2023-05-17 15:10
Arbe Robotics Ltd. (NASDAQ:ARBE) Q1 2023 Earnings Conference Call May 17, 2023 8:30 AM ET Company Participants Miri Segal - Chief Executive Officer of MS-IR Kobi Marenko - Co-Founder and Chief Executive Officer Karine Pinto-Flomenboim - Chief Financial Officer Conference Call Participants Gary Mobley - Wells Fargo Securities Joshua Buchalter - TD Cowen Suji Desilva - ROTH MKM Jaime Perez - RFL Matthew Galinko - Maxim Group Operator Good day, and welcome to the Arbe Robotics First Quarter 2023 Conference Cal ...
Arbe Robotics .(ARBE) - 2023 Q1 - Earnings Call Presentation
2023-05-17 12:18
Radar Revolution. Delivered. Q1 2023 Financial Results Disclaimer v v v This presentation and any statements made at the conference call and webcast referred to in this presentation, contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "may," "should," "strategy," "future," "will," "proje ...
Arbe Robotics .(ARBE) - 2023 Q1 - Quarterly Report
2023-05-16 16:00
Exhibit 99.1 Arbe Announces Q1 2023 Financial Results TEL AVIV, Israel, May 17, 2023 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ: ARBE) ("Arbe"), a global leader in perception radar solutions, today announced financial results for its first quarter, which ended March 31, 2023. Key Q1 and Recent Company Highlights: This quarter, significant steps have been taken towards production and revenue growth through collaboration with Tier 1s and leading car manufacturers aiming to adopt Arbe's technology for enhancin ...
Arbe Robotics .(ARBE) - 2022 Q4 - Annual Report
2023-03-21 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _____________. OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION ...
Arbe Robotics .(ARBE) - 2022 Q4 - Earnings Call Presentation
2023-03-02 19:01
Radar Revolution. Delivered. Business Update Kobi Marenko Co-Founder and CEO, Arbe Investor Presentation 1 Disclaimer v This press release and the earnings call contain "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "may," "should," "strategy," "future," "will," "project," "potential" and si ...