The patented technology is highly beneficial to Foresight's key markets, particularly the heavy equipment industry, as the integration of thermal cameras ensures precise obstacle detection in challenging weather and dust-filled environments Ness Ziona, Israel, April 17, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that it has received a notice of allowance from the Japan Patent Office for its patent applicatio ...

Foresight Announces Fourth Quarter and Full Year 2023 Financial Results NESS ZIONA, Israel — March 27, 2024 — Foresight Autonomous Holdings Ltd., an innovator in automotive vision systems (Nasdaq and TASE: FRSX) ("Foresight" or the "Company"), today reported financial results for the fourth quarter and full year ended December 31, 2023. Foresight ended the full year 2023 with revenues of $497,000 and with $15.7 million in cash, cash equivalent and restricted cash. The Company reported a U.S. generally accep ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 WASHINGTON, DC 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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR (Name, Tel ...

As a result of the successful completion of the POC, the parties will initiate sales efforts with SoftBank's key business partners for commercial validation Ness Ziona, Israel, March 22, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision solution, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd. ("Eye-Net"), announced today that SoftBank Corp. (TYO:9434) ("SoftBank") will collaborate with its business partners to initia ...

Eye-Net targets integration into the vehicle manufacturer's existing ADAS systems Ness Ziona, Israel, March 19, 2024 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly-owned subsidiary, Eye-Net Mobile Ltd. ("Eye-Net"), has received an additional order for a paid development project from a leading global Japanese vehicle manufacturer, following the successful completion of the first two phases of a paid pr ...

Financial Performance - The operating loss for the year ended December 31, 2022, was approximately $17,455,000, an increase of $1,510,000 or 9.5% from the operating loss of $15,945,000 in 2021[360] - The net loss for the year ended December 31, 2022, was approximately $21,676,000, compared to a net loss of $15,036,000 in 2021, marking an increase of $6,640,000[363] Expenses - Research and development expenses for the year ended December 31, 2022, amounted to $11,534,000, an increase of $1,364,000 or 13.4% compared to $10,170,000 in 2021[349] - Sales and marketing expenses for the year ended December 31, 2022, were approximately $2,230,000, representing an increase of $382,000 or 20.7% compared to $1,848,000 in 2021[358] - General and administrative expenses for the year ended December 31, 2022, were approximately $3,989,000, slightly up from $3,980,000 in 2021[359] Cash Flow - Cash and cash equivalents, including restricted cash and short-term bank deposits, were approximately $26.5 million as of December 31, 2022[366] - Net cash used in operating activities for the year ended December 31, 2022, was approximately $17,057,000, compared to $12,125,000 in 2021[368] - Net cash provided by investing activities for the year ended December 31, 2022, was approximately $8,983,000, primarily from changes in short-term deposits[370] - The company expects existing cash and equivalents to fund operations through the second quarter of 2024[376] Losses and Revenue - The company has incurred losses and generated negative cash flows from operations since January 2011, with no significant revenue from product sales expected in the near term[375] Share Options - The company granted options to purchase 13,075,000 Ordinary Shares during 2022, subject to specific terms and conditions[387] - The fair value of share options is estimated using a Black-Scholes Merton options pricing model, which relies on several key assumptions[387] - The expected volatility for share options is calculated based on historical Ordinary Shares price movements[387] Currency and Market Risks - Changes of 5% and 10% in the U.S. dollar/NIS exchange rate would increase/decrease operating expenses for 2022 by 0.65% and 1.3%, respectively[607] - The majority of the company's liquid assets are held in NIS, with a portion of expenses denominated in U.S. dollars[607] - The company does not currently hedge its foreign currency exchange risk but may consider formal currency hedging transactions in the future[608] - The company is exposed to market risks primarily due to changes in foreign currency exchange rates and interest rates[606] - The percentage of NIS denominated expenses is expected to materially decrease in the near future, reducing exposure to exchange rate fluctuations[607] Investment Policy - The company's investment policy involves holding cash in bank deposits with banks rated at least A-minus, with most cash and cash equivalents bearing interest[606] Dividends - The company has historically not paid dividends and has no foreseeable plans to issue dividends[387]

[Overview](index=1&type=section&id=Overview) Foresight's 2022 full-year revenue surged 358% to $550,000, driven by POC projects, alongside widening GAAP losses and a strategic commercialization push Full Year 2022 Key Financial Metrics | Metric | FY 2022 | FY 2021 | Change | | :--- | :--- | :--- | :--- | | Revenues | $550,000 | $120,000 | +358% | | GAAP Operating Loss | ($17.5 million) | ($15.9 million) | +10% | | GAAP Net Loss | ($21.7 million) | ($15.0 million) | +44% | | Cash, cash equivalent, restricted cash and short-term deposits | $26.5 million | $45.7 million | -42% | - The company's strategic focus in 2022 was on achieving commercialization with early adopters, resulting in three commercial agreements with industry leaders[1](index=1&type=chunk) - A key achievement was the commercial agreement with SUNWAY-AI, which validates the company's long-term strategy of building partnerships in key geographies like China, Japan, Europe, and North America[4](index=4&type=chunk) [Fourth Quarter Corporate Highlights](index=1&type=section&id=Fourth%20Quarter%20Corporate%20Highlights) Q4 2022 highlights include a $51 million potential agreement with SUNWAY-AI and Eye-Net Mobile's successful Japan roadshow, generating strong OEM interest - Signed a joint development and supply agreement with SUNWAY-AI Technology Co., Ltd., which could yield up to **$51 million in revenue** over four years. SUNWAY-AI will commercialize the ADAS systems in mainland China, Hong Kong, Taiwan, and Macao[3](index=3&type=chunk) - Wholly-owned subsidiary Eye-Net Mobile completed a successful technological roadshow in Japan, demonstrating its solution to **20 automotive-related companies**, including **five leading Japanese OEMs**, which generated significant interest[3](index=3&type=chunk) - Hosted a virtual investor webinar in December to showcase progress in developing and distributing new automotive technologies and to provide updates on relationships with customers like Hitachi Astemo Americas and SUNWAY-AI[3](index=3&type=chunk) [Financial Results](index=2&type=section&id=Financial%20Results) The company's financial performance in Q4 and full-year 2022 reflects significant revenue growth from POC projects, offset by increased operating expenses and net losses [Fourth Quarter 2022 Financial Results](index=2&type=section&id=Fourth%20Quarter%202022%20Financial%20Results) Q4 2022 revenues grew **23.8%** to **$99,000** from POC projects, while GAAP net loss remained stable at **$3.8 million** due to higher expenses Q4 2022 vs. Q4 2021 Financials (in thousands) | Metric | Q4 2022 | Q4 2021 | Change | | :--- | :--- | :--- | :--- | | Revenues | $99 | $80 | +23.8% | | R&D Expenses, net | $3,035 | $2,647 | +14.7% | | G&A Expenses | $1,087 | $987 | +10.1% | | GAAP Net Loss | ($3,820) | ($3,726) | +2.5% | | Non-GAAP Net Loss | ($3,377) | ($3,304) | +2.2% | | GAAP EPS | ($0.012) | ($0.012) | 0% | - Q4 revenue was primarily generated from the successful completion of a POC project with a leading American EV manufacturer (**$70,000**) and a POC project with a leading global tractor manufacturer (**$15,000**)[6](index=6&type=chunk) [Full Year 2022 Financial Results](index=3&type=section&id=Full%20Year%202022%20Financial%20Results) Full-year 2022 revenues surged **358%** to **$550,000** from POC projects, but GAAP net loss widened to **$21.7 million** due to increased expenses and finance costs Full Year 2022 vs. 2021 Financials (in thousands) | Metric | FY 2022 | FY 2021 | Change | | :--- | :--- | :--- | :--- | | Revenues | $550 | $120 | +358% | | R&D Expenses, net | $11,534 | $10,170 | +13.4% | | Sales & Marketing Exp. | $2,230 | $1,848 | +20.7% | | GAAP Net Loss | ($21,676) | ($15,036) | +44.2% | | Non-GAAP Net Loss | ($19,850) | ($12,572) | +57.9% | | GAAP EPS | ($0.067) | ($0.047) | +42.6% | - Full-year revenue was generated from projects with Elbit Systems (**$220k**), Hitachi Astemo (**$150k**), ZF North America (**$90k**), an American EV manufacturer (**$70k**), and a global tractor manufacturer (**$15k**)[8](index=8&type=chunk) - Net finance expenses for 2022 were **$4.2 million**, a significant shift from a net finance income of **$0.9 million** in 2021. This was mainly driven by a **$2.2 million** revaluation of the company's investment in Rail Vision Ltd. and **$2.2 million** in exchange rate differences[11](index=11&type=chunk) [Balance Sheet Highlights](index=4&type=section&id=Balance%20Sheet%20Highlights) As of December 31, 2022, Foresight's liquidity and equity decreased, with cash and deposits at **$26.5 million** and total equity at **$28.8 million** Balance Sheet Comparison (as of Dec 31, in thousands) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Cash, restricted cash, and short-term deposits | $26,491 | $45,701 | | Total Assets | $32,893 | $53,481 | | Total Liabilities | $4,110 | $4,848 | | Total Equity | $28,783 | $48,633 | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements provide detailed insights into the company's balance sheet, comprehensive loss, and cash flow for 2022 [Consolidated Balance Sheets](index=6&type=section&id=FORESIGHT%20AUTONOMOUS%20HOLDINGS%20LTD.%20INTERIM%20CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of December 31, 2022, total assets were **$32.9 million** and total equity **$28.8 million**, reflecting a reduction from 2021 due to cash utilization Consolidated Balance Sheets (U.S. dollars in thousands) | | As of Dec 31, 2022 | As of Dec 31, 2021 | | :--- | :--- | :--- | | **ASSETS** | | | | Total current assets | $27,335 | $46,373 | | Total non-current assets | $5,558 | $7,108 | | **Total assets** | **$32,893** | **$53,481** | | **LIABILITIES AND SHAREHOLDERS' EQUITY** | | | | Total current liabilities | $2,634 | $2,705 | | Total non-current liabilities | $1,476 | $2,143 | | **Total liabilities** | **$4,110** | **$4,848** | | **Total equity** | **$28,783** | **$48,633** | | **Total liabilities and shareholders' equity** | **$32,893** | **$53,481** | [Consolidated Statements of Comprehensive Loss](index=7&type=section&id=FORESIGHT%20AUTONOMOUS%20HOLDINGS%20LTD.%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20LOSS) For FY2022, the company reported a net loss of **$21.7 million** on **$550,000** revenue, with Q4 2022 showing a **$3.8 million** net loss on **$99,000** revenue Consolidated Statements of Comprehensive Loss (U.S. dollars in thousands) | | Year ended Dec 31, 2022 | Year ended Dec 31, 2021 | Three months ended Dec 31, 2022 | Three months ended Dec 31, 2021 | | :--- | :--- | :--- | :--- | :--- | | Revenues | 550 | 120 | 99 | 80 | | Gross profit | 298 | 53 | 55 | 48 | | Operating loss | (17,455) | (15,945) | (4,538) | (4,116) | | Net loss | (21,676) | (15,036) | (3,820) | (3,726) | [Consolidated Statements of Cash Flow](index=8&type=section&id=FORESIGHT%20AUTONOMOUS%20HOLDINGS%20LTD.%20INTERIM%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOW) In FY2022, net cash used in operations was **$17.1 million**, offset by **$9.0 million** from investing, resulting in a **$8.9 million** decrease in cash to **$19.3 million** Consolidated Statements of Cash Flow Highlights (U.S. dollars in thousands) | | Year ended Dec 31, 2022 | Year ended Dec 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | (17,057) | (12,125) | | Net cash provided by (used in) investing activities | 8,983 | (12,582) | | Net cash provided by financing activities | - | 14,160 | | Decrease in cash and cash equivalents and Restricted cash | (8,913) | (10,584) | | Cash and cash equivalents and Restricted cash at end of period | 19,275 | 28,188 | [Reconciliation of GAAP to Non-GAAP Results](index=10&type=section&id=SUPPLEMENTAL%20RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20RESULTS) The reconciliation adjusts GAAP net loss by excluding non-cash share-based compensation, resulting in a FY2022 non-GAAP net loss of **$19.9 million** GAAP to Non-GAAP Reconciliation (U.S. dollars in thousands) | | Year ended Dec 31, 2022 | Year ended Dec 31, 2021 | Three months ended Dec 31, 2022 | Three months ended Dec 31, 2021 | | :--- | :--- | :--- | :--- | :--- | | **GAAP net loss** | **(21,676)** | **(15,036)** | **(3,820)** | **(3,726)** | | Share-based compensation expenses | 1,826 | 2,464 | 443 | 422 | | **Non-GAAP net loss** | **(19,850)** | **(12,572)** | **(3,377)** | **(3,304)** | - Management believes non-GAAP financial information is useful for investors to understand and assess the company's ongoing operations, as it excludes non-cash expenses like stock-based compensation[9](index=9&type=chunk)

Exhibit 99.1 Foresight Announces First Quarter 2022 Financial Results NESS ZIONA, Israel — May 26, 2022 — Foresight Autonomous Holdings Ltd., an innovator in automotive vision systems (Nasdaq and TASE: FRSX) ("Foresight or the "Company"), today reported financial results for the first quarter of 2022. Foresight ended the first quarter of 2022 with $40.4 million in cash, cash equivalent, restricted cash and short-term deposits. The Company reported a GAAP net loss of $2.02 million for the first quarter of 20 ...

Exhibit 99.1 Foresight Announces Fourth Quarter and Full Year 2021 Financial Results NESS ZIONA, Israel — March 31, 2022 — Foresight Autonomous Holdings Ltd., an innovator in automotive vision systems (Nasdaq and TASE: FRSX) ("Foresight"), today reported financial results for the fourth quarter and full year 2021. Foresight ended the fourth quarter of 2021 with $45.7 million in cash, cash equivalent and short-term deposits. Foresight reported a U.S. generally accepted accounting principles (GAAP) net loss o ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No.: 001-38094 For the fiscal year ended December 31, 2021 FORESIGHT AUTONOMOUS HOLDINGS LTD. OR (Exact name of registrant as specified ...