Arbe Robotics falls after lower Q1 results

Arbe Robotics

17/05/2023 13:53

** U.S.-listed shares of Israel-based ARBE Robotics  ARBE.O 
down 2.87% at $2.03 premarket
    ** Co reports Q1 rev $0.4 mln vs $0.9 mln in prior year
    ** Q1 net loss increased to $9.9 mln from $7.9 mln yr-ago
    ** Forecasts FY rev in range of $5 mln - $7 mln, vs est. of
$6.1 mln - Refinitiv 
    ** Says revenues will be heavily weighted towards end of the
year as Arbe expects to start shipping production chips
    ** Up to last close, ARBE down 38.7% YTD

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))