Sign In  |  Register  |  About Pleasanton  |  Contact Us

Pleasanton, CA
September 01, 2020 1:32pm
7-Day Forecast | Traffic
  • Search Hotels in Pleasanton

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

ChineseNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Releases Q2 2024 Financial

Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision systems, is reporting its financial results and company update for the second quarter of 2024. Highlights of the report include a collaboration agreement with Korean Tier-One KONEC, a contract to supply advanced systems for SUNWAY-AI autonomous logistics vehicles, and a follow-up order from a leading Japanese manufacturer, to name a few.

The report also showed that the company reported a U.S. generally accepted accounting principles (“GAAP”) operating loss of $3,200,000 for the quarter, a 25.6% decrease from the same quarter in 2023. In addition, Foresight saw a GAAP net loss of $3,200,000 and a non-GAAP net loss of $3,000,000 for the quarter, compared to a non-GAAP loss of $5,700,000 for the same period in 2023. The report noted that the financial results reflect the company’s efficiency that has been achieved primarily through a renewed focus on enhancing client-facing initiatives and the strategic reallocation of resources.

“Foresight’s innovative technologies continue to gain momentum in the automotive and defense industries, particularly in Europe and Asia,” said Foresight CEO Haim Siboni in the press release. “In the second quarter, we also had exciting updates regarding Eye-Net, Foresight’s wholly owned subsidiary. Eye-Net will work together with insurance and technology companies in Japan to assess the integration benefits of Eye-Net’s solutions in the technology company’s dashboard cameras. This proof of concept project follows Eye-Net’s progress in Japan based on the company’s relationship with SoftBank. We expect to see new commercial opportunities for both Eye-Net and Foresight during the second half of 2024.”

To view the full press release, visit https://ibn.fm/TMR6l

About Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings is a technology company developing smart multispectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries — Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. — Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight vision solutions include modules of automatic calibration and dense three-dimensional (“3D”) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time, precollision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information, visit the company’s website at www.ForesightAuto.com.

NOTE TO INVESTORS: The latest news and updates relating to FRSX are available in the company’s newsroom at http://ibn.fm/FRSX

About ChineseWire

ChineseWire (“CW”) is a specialized communications platform with a focus on promising China-based companies that are listed in North America. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CW brings its clients unparalleled recognition and brand awareness. CW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.ChineseWire.com

Please see full terms of use and disclaimers on the ChineseWire website applicable to all content provided by CW, wherever published or re-published: https://www.ChineseWire.com/Disclaimer

ChineseWire
Los Angeles, CA
www.ChineseWire.com
310.299.1717 Office
Editor@ChineseWire.com

ChineseWire is powered by IBN

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photography by Christophe Tomatis
Copyright © 2010-2020 Pleasanton.com & California Media Partners, LLC. All rights reserved.