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Arbe Announces Q4 and Full Year 2022 Financial Results
TEL AVIV, Israel, March 2, 2023 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ: ARBE) ("Arbe"), a global leader in Perception Radar Solutions, today announced
About this update from Arbe Robotics Ltd.
[{"type":"text","content":"TEL AVIV, Israel, March 2, 2023 /PRNewswire/ -- Arbe Robotics Ltd. (NASDAQ: ARBE) (\"Arbe\"), a global leader in Perception Radar Solutions, today announced financial results for its fourth quarter and full year, that ended on December 31, 2022.\nKey Q4 and 2022 Company Highlights:\nOver the past year, Arbe has made significant progress in the development of its next generation Perception Radar technology, which has been validated for its leading performance. This technology will play an integral role in the sensor suite of Level 2+ driving systems, which are projected to be the next mass market.\nIn 2022, Arbe actively worked with 12 out of the 15 leading automakers across the globe. This involved conducting field trials, participating in RFI and RFQ (request for proposal and quote) bids, and demonstrating the crucial significance of our Perception Radar for Level 2+ driver assist.Veoneer, a world leader in automotive safety, selected Arbe for their next generation radars. Veoneer is a leading Tier 1 supplier to global automakers, producing more than 50 million radars today, and it has forecasted its growth to roughly 250 million per year by the end of the decade.HiRain Technologies, a leading Chinese ADAS Tier 1 supplier, issued a preliminary order for 340,000 radar chipsets, a first mass production for Arbe.In Q4, Arbe reached an important milestone, completing the chipset mass production line with Global Foundries in Vermont USA. Arbe's three chips are now going through the AEC-Q100 qualification process, on schedule to commence mass production in Q4 2023.Arbe's Tier 1 partners, including Valeo, Veoneer, HiRain and Weifu, who work with leading automakers, have made considerable financial investments, and deployed dedicated sizable teams to develop radar systems based on the cutting-edge Arbe chipset.Arbe has successfully obtained the Japanese Telecommunication and Radio Certification for its mass production RF chipset which will enable Arbe to leverage significant new market opportunities.Arbe has joined a development project with a leading automotive company and is conducting pilot programs with leading automakers and Tier 1s in Japan.Arbe launched its 360° Perception Solution, offering first-to-market, AI-based, integrated analysis of vehicle surroundings leveraging radar-based data only. The solution provides the highest ...