ARBE - Why Arbe Robotics Shares Plunged 21.6% on Thursday
Shares of Arbe Robotics (NASDAQ: ARBE) fell by as much as 22.3% in trading on Thursday after the autonomous driving technology company reported its fourth-quarter financial results. Shares closed the session down by 21.6%
Revenue for the quarter was just $150,000, down from $500,000 a year ago and well short of the $1.95 million that analysts had been expecting.
It's net loss was $11.1 million, an improvement from its $15.8 million loss a year ago. But the loss was $0.17 per share, which was worse than the $0.14 per share loss that analysts expected.
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Why Arbe Robotics Shares Plunged 21.6% on Thursday