Arbe Robotics Ltd. reported revenues of $0.1 million for the third quarter of 2024, a decrease from $0.5 million in Q3 2023. The company recorded a negative gross profit of $0.3 million, compared to a positive gross profit of $0.1 million in the prior year period, primarily due to reduced revenue against fixed costs.
Operating expenses for Q3 2024 increased to $12.2 million from $11.7 million in Q3 2023, driven by investments in outsourced support and internal workforce. This resulted in a net loss of $12.6 million, up from $11.7 million in Q3 2023, and an adjusted EBITDA loss of $8.2 million.
Despite financial losses, Arbe reported significant progress in OEM engagements, with 16 OEMs in active process and 8 in advanced perception projects. The company also highlighted collaborations with HiRain Technologies for ADAS development in China and Sensrad for 4D imaging radars for Tianyi Transportation Technology, alongside a recently completed capital raise of up to $49 million to support 2025 production ramp-up.
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