ARBE - Arbe Robotics GAAP EPS of -$0.23 beats by $0.18 revenue of $0.29M misses by $0.17M

2023-08-09 07:33:24 ET

• Arbe Robotics press release ( NASDAQ: ARBE ): Q2 GAAP EPS of -$0.23 beats by $0.18 .
• Revenue of $0.29M (-76.6% Y/Y) misses by $0.17M .
• As of June 30, 2023, Arbe had $31.6 million in cash and cash equivalents and $25.6 million in short term bank deposits with no debt.
• 2023 Outlook: Our goal for 2023 is to achieve 4 design-ins with automakers.
• Revenues are expected to be in the range of $5 to $7 million.
• Revenues will be heavily weighted towards the end of the year as Arbe expects to start shipping production chips.
• Adjusted EBITDA is projected to be in the range of ($32 million) and ($35 million).

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