Foresight(FRSX)
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Foresight Announces Plan for Reverse Share Split
Globenewswire· 2025-08-15 20:45
Core Viewpoint - Foresight Autonomous Holdings Ltd. plans to conduct a reverse share split at a ratio of 1-for-7, effective on August 24, 2025, on the Tel-Aviv Stock Exchange and August 25, 2025, on the Nasdaq Capital Market [1][2]. Company Overview - Foresight Autonomous Holdings Ltd. is a technology company focused on developing advanced 3D perception systems and cellular-based applications [5]. - The company operates through subsidiaries including Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd., and Eye-Net Mobile Ltd., which develop both "in-line-of-sight" vision systems and "beyond-line-of-sight" accident-prevention solutions [5]. Reverse Share Split Details - The reverse share split will not change the existing ratio of ordinary shares represented by the Company's American Depositary Shares (ADSs) [2]. - Following the reverse share split, the ADS price is expected to increase proportionally, although there is no assurance that the post-split price will match the expected proportionate increase [2]. - The reverse share split aims to help the company maintain compliance with Nasdaq listing requirements, though success in this goal is not guaranteed [2]. Shareholder Impact - The reverse share split will not affect any shareholder's percentage ownership or voting power [4]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [4]. Product and Market Applications - Foresight's 3D perception systems include automatic calibration modules and dense 3D point clouds applicable in various markets such as automotive, defense, autonomous driving, agriculture, heavy industrial equipment, and unmanned aerial vehicles (UAVs) [6]. - Eye-Net Mobile focuses on developing next-generation vehicle-to-everything (V2X) collision prevention solutions, enhancing road safety and situational awareness through AI technology and existing cellular networks [7].
Foresight Reports Second Quarter 2025 and First Half 2025 Financial Results
Globenewswire· 2025-08-15 20:05
Core Insights - Foresight Autonomous Holdings Ltd. reported financial results for Q2 and the first half of 2025, highlighting progress in commercial agreements and technological advancements in 3D perception systems [1][4][6]. Second Quarter Corporate Highlights - Revenues for Q2 2025 were $128,000, a slight increase from $123,000 in Q2 2024, primarily driven by agreements with Elbit Systems and successful testing with Software République [6]. - The company signed a $12 million commercialization agreement with Zhejiang StreamRail for urban rail transit integration, with expected deployment in 2026 [7]. - A collaboration with a Tier-One automotive supplier aims to enhance bus safety using Foresight's technology, with proof-of-concept testing ongoing in H2 2025 [7]. First Half 2025 Corporate Highlights - Total revenues for the first half of 2025 reached $240,000, compared to $224,000 in the same period of 2024 [9]. - Research and development expenses decreased by 2.2% to $4,426,000, while sales and marketing expenses increased by 9.2% to $629,000 [9]. - General and administrative expenses rose by 11.6% to $1,296,000, mainly due to increased share-based compensation [9]. Financial Performance - GAAP net loss for Q2 2025 was $2,815,000, improving from a loss of $3,172,000 in Q2 2024 [9]. - Non-GAAP net loss for Q2 2025 was $2,598,000, compared to $3,030,000 in Q2 2024 [10]. - For the first half of 2025, GAAP net loss was $6,095,000, compared to $4,708,000 in the first half of 2024 [10]. Balance Sheet Highlights - As of June 30, 2025, cash and cash equivalents totaled $6,392,000, down from $7,182,000 at the end of 2024 [18]. - Total equity decreased by 16.4% to $5,625,000, primarily due to the net loss for the period [18]. Technological Developments - Foresight enhanced its perception systems by integrating NVIDIA Jetson Orin platforms, significantly improving AI processing capabilities for automotive and drone applications [7]. - Eye-Net Mobile made significant strides in V2X safety, completing a paid proof-of-concept with a major European OEM and achieving successful trial results in France [5].
Foresight, KONEC and GINT Collaborate on Prototype Development for Autonomous Tractors Toward Mass Production
Globenewswire· 2025-08-11 12:53
Core Insights - Foresight Autonomous Holdings Ltd. has signed a three-way agreement with KONEC Ltd. and GINT Ltd. to develop an autonomous control system for tractors, leveraging Foresight's 3D perception technology [1][2] - The collaboration aims to generate up to $35 million in revenue by 2030, with initial sales expected as early as 2026 [2][3] - The first phase will focus on developing a prototype of Foresight's ScaleCam system integrated with GINT's autonomous tractor kit "Pluva Auto," followed by validation and mass production [3][4] Company Overview - Foresight Autonomous Holdings Ltd. specializes in advanced 3D perception systems and cellular-based applications, with subsidiaries focused on various automotive and safety technologies [7][8] - KONEC Ltd. is a leading Tier-One automotive supplier known for manufacturing parts for eco-friendly vehicles and has major clients including Tesla, Hyundai, and Kia [5] - GINT Ltd. develops technologies for enhancing efficiency in transportation and production equipment, offering South Korea's top-selling autonomous driving tractor kit [6]
Foresight and Indian Drone Manufacturer Win Grant for $5 Million Project to Commercialize Autonomous Industrial Drones
Globenewswire· 2025-08-04 12:25
Core Insights - The global drone inspection and monitoring market is projected to reach $21.3 billion by 2027, driven by demand in various industries including oil and gas, mining, critical infrastructure, and manufacturing [1][3] - Foresight Autonomous Holdings Ltd. has announced a joint development and commercialization project with Big Bang Boom Solutions Pvt. Ltd., with a budget of $5 million, set to begin in September 2025 and lasting for 24 months [1][2][5] - The project aims to develop rugged, autonomous industrial inspection drones equipped with advanced sensors and AI-based algorithms for operation in challenging environments [4][5] Industry and Market Potential - The commercialization of the jointly developed technology could generate up to $32 million in revenue by 2031, indicating significant commercial potential for both Foresight and Big Bang [3] - The funding approval from the India-Israel Industrial R&D and Technological Innovation Fund (I4F) covers 50% of the project's budget, supporting the development of drone solutions tailored for industries such as oil and gas, mining, and power generation [5][6] - The drones are expected to improve safety, reduce operational costs, and enhance efficiency by performing inspections in hazardous and hard-to-reach environments [5]
Foresight: Toyota, SoftBank and Eye-Net Collaborate on Published Hazard Avoidance Brake Control System Study
Globenewswire· 2025-07-18 11:56
Core Insights - The research paper presented by Toyota at the 2025 JSAE Annual Spring Congress discusses the potential of vehicle-to-network (V2N) technology to enhance Advanced Driver Assistance Systems (ADAS) by overcoming limitations of in-vehicle sensors [1][2][3] Group 1: V2N Technology and ADAS - The study explores how V2N technology can improve ADAS by addressing the inability of in-vehicle sensors to detect hazards in non-line-of-sight scenarios [2][3] - Smartphones are proposed as external sensors to enhance hazard detection through V2N communication, focusing on factors like communication latency, tracking accuracy, and positioning precision in urban environments [2][3] Group 2: Safety and Market Opportunities - The research highlights the strong potential of V2N technology to enhance vehicle safety and unlock new market opportunities, while emphasizing the need for advancements in positioning accuracy and viable business models for commercial adoption [3][4] - Eye-Net's V2X technology is crucial in this study, allowing smartphones to communicate hazard information to vehicles, thereby extending detection capabilities beyond in-vehicle sensors [4][5] Group 3: Company Background - Eye-Net develops next-generation V2X collision prevention solutions and smart automotive systems aimed at enhancing road safety and situational awareness for all road users [5][7] - Foresight Autonomous Holdings Ltd. focuses on advanced 3D perception systems and cellular-based applications, developing both in-line-of-sight and beyond-line-of-sight accident-prevention solutions [7][8]
Foresight: Eye-Net, in Collaboration with Orange’s Mobile Application, Achieves 99% Detection Rate in French Urban Mobility Trials
Globenewswire· 2025-07-09 12:09
Core Insights - Eye-Net Mobile Ltd., a subsidiary of Foresight Autonomous Holdings Ltd., has completed the first phase of a significant mobility trial in Bordeaux, France, focusing on enhancing urban road safety through its V2X collision prevention technology [1][2][3] - The second phase of the trial is scheduled for the fourth quarter of 2025, involving up to 10,000 participants and testing the alert system in live urban environments [4][5] Company Overview - Foresight Autonomous Holdings Ltd. specializes in advanced 3D perception systems and has developed a V2X platform that integrates with mobile applications to provide real-time collision alerts [1][7] - Eye-Net's technology achieved a detection rate of over 99% for interactions between road users, demonstrating its effectiveness in urban settings [5][6] Collaboration and Ecosystem - The Bordeaux trial is conducted in collaboration with several partners, including Renault Group and Orange S.A., as part of the Software République initiative aimed at intelligent and sustainable mobility solutions [2][9] - The Software République is an open innovation ecosystem that combines expertise from various sectors to address challenges in connected vehicles and smart cities [10][11] Future Developments - The trial's success is seen as a testament to the scalability and reliability of Eye-Net's platform, with plans for further advancements to meet the complex demands of modern urban environments [6][12]
Foresight: Eye-Net, in Collaboration with Orange's Mobile Application, Achieves 99% Detection Rate in French Urban Mobility Trials
GlobeNewswire News Room· 2025-07-09 12:09
Core Viewpoint - Eye-Net Mobile Ltd., a subsidiary of Foresight Autonomous Holdings Ltd., is advancing urban mobility safety through its V2X collision prevention technology, with a significant trial in Bordeaux, France, and plans for a larger trial in late 2025 [1][2][4]. Group 1: Trial Details - The first phase of the Bordeaux trial involved collaboration with major partners including Renault Group and Orange S.A., focusing on enhancing road safety for urban users [2][3]. - The second phase, scheduled for the fourth quarter of 2025, will include up to 10,000 participants using a public transportation app to test Eye-Net's alert system in live urban environments [4]. Group 2: Technology Performance - Eye-Net's V2X platform achieved a detection rate of over 99% for interactions among road users, demonstrating robust interoperability with existing applications [5]. - The technology utilizes smartphones and connected vehicles to create a real-time communication network that alerts users to potential collisions, even in low visibility conditions [3][5]. Group 3: Company Commitment and Vision - The CEO of Eye-Net emphasized the trial's success as a testament to the platform's flexibility and reliability, indicating the technology's maturity and scalability for urban mobility solutions [6]. - Eye-Net aims to support the evolving demands of modern urban environments by advancing its collision prevention solutions [6][7].
Foresight: Eye-Net and Leading European Vehicle Manufacturer Successfully Advance Vehicle Safety with First-Phase Testing
Globenewswire· 2025-07-07 12:07
Core Insights - The POC project aims to integrate Eye-Net's V2X technology into the safety systems of a leading European vehicle manufacturer, enhancing situational awareness for vehicles and vulnerable road users [1][2] - The first phase of the POC successfully validated the performance and compatibility of Eye-Net's technology, demonstrating seamless communication between the vehicle and nearby road users [2][3] - Future phases will focus on customizing Eye-Net's technology for specific needs of the vehicle manufacturer and integrating it into the vehicle's display system [3] Company Overview - Foresight Autonomous Holdings Ltd. is a technology company specializing in advanced 3D perception systems and cellular-based applications, with a focus on automotive safety and situational awareness [6][7] - Eye-Net Mobile Ltd., a wholly-owned subsidiary of Foresight, develops next-generation V2X collision prevention solutions leveraging AI technology and existing cellular networks [4][6] - Foresight's 3D perception systems are applicable across various markets, including automotive, defense, and autonomous driving [7]
Foresight Signs Commercialization Agreement with Global Rail Tech Provider for up to $12 Million in Revenue Starting in 2026
Globenewswire· 2025-05-19 12:10
Core Viewpoint - The collaboration between Foresight Autonomous Holdings Ltd. and StreamRail aims to enhance safety and operational efficiency in urban rail transit systems through the integration of advanced 3D perception technology [1][5]. Company Overview - Foresight Autonomous Holdings Ltd. specializes in developing advanced three-dimensional perception systems and cellular-based applications, targeting various markets including automotive and rail transit [7][8]. - StreamRail is a leader in rail transit technologies, focusing on intelligent control, detection, and maintenance solutions for rail systems, and has implemented its technologies in over 30 cities globally [6]. Collaboration Details - The initial phase of the collaboration will focus on developing an innovative obstacle detection system that utilizes advanced sensors and AI to reduce collision risks on rail tracks [2]. - The revenue potential from this project is estimated to reach up to $12 million by 2029, with commercialization expected to start in 2026 [2]. - StreamRail has secured exclusive distribution rights for the new solution in China, contingent upon achieving sales of at least $1.5 million during 2026 and 2027 [2]. Market Insights - The global market for Rail Transit Obstacle Detection Systems is projected to grow from $1.97 billion in 2024 to $3.2 billion by 2032, with the metro segment expected to lead this growth due to urbanization and the need for advanced safety solutions [4]. - The rising adoption of AI-powered and cloud-based monitoring technologies is a significant driver of this market growth [4]. Strategic Importance - The partnership signifies a shift from first-generation 2D to second-generation 3D technology in train safety systems, addressing key challenges in railway transportation [3]. - The collaboration is expected to deliver innovative, safe, and reliable onboard intelligent products, enhancing the overall value for global customers and passengers [3].
Foresight Collaborates with a Leading Global Tier-One Automotive Supplier to Enhance Bus Safety with Advanced 3D Perception Technology
Globenewswire· 2025-05-14 12:37
Core Insights - Foresight Autonomous Holdings Ltd. has signed an agreement for a proof of concept (POC) project with a global Tier One automotive supplier to evaluate its 3D perception system for urban transit safety [1][2] - The POC project aims to assess the system's ability to accurately detect and measure curb heights and distances, enhancing situational awareness for drivers and potentially reducing accidents [2][4] - The commercial vehicle ADAS market is projected to grow from $17.66 billion in 2023 to $43.24 billion by 2030, with a compound annual growth rate (CAGR) of 13.64%, highlighting significant opportunities for technology innovators like Foresight [3] Company Overview - Foresight Autonomous Holdings Ltd. specializes in advanced 3D perception systems and cellular-based applications, with subsidiaries focused on various automotive and safety solutions [5][6] - The company's technology includes automatic calibration and dense 3D point cloud modules applicable across multiple sectors, including automotive and defense [6] Market Context - The commercial vehicle ADAS market is expanding rapidly, driven by smart city initiatives and advancements in AI and sensor integration, creating substantial opportunities for OEMs and fleet operators [3] - ADAS for buses is a key segment within this market, as public transportation providers prioritize safety, efficiency, and regulatory compliance [3]