Arbe Robotics ( (ARBE) ) has issued an update.
Arbe Robotics released its unaudited condensed interim consolidated financial statements as of September 30, 2024. The report indicates a net loss of $37.1 million for the nine months ended September 30, 2024, compared to a $34.2 million net loss in the same period the previous year. Despite an increase in total assets from $50.5 million to $55.5 million, revenues declined from $1.1 million to $669,000. The financial results reflect ongoing challenges in scaling revenue amid high research and development expenses, which were over $26 million.
More about Arbe Robotics
Arbe Robotics is a company operating in the robotics industry, focusing primarily on developing advanced radar systems for autonomous vehicles. The company is dedicated to enhancing the safety and efficiency of transportation through its cutting-edge technology.
YTD Price Performance: 96.08%
Average Trading Volume: 2,492,356
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $340.3M
For an in-depth examination of ARBE stock, go to TipRanks’ Stock Analysis page.