Welcome to our dedicated page for Foresight Autonomous Hldgs news (Ticker: FRSX), a resource for investors and traders seeking the latest updates and insights on Foresight Autonomous Hldgs stock.
Foresight Autonomous Holdings Ltd (FRSX) develops advanced vision systems for automotive safety through stereoscopic imaging and sensor fusion technologies. This news hub provides investors and industry professionals with timely updates on the company's strategic developments, product milestones, and market positioning.
Access consolidated updates on FRSX's patented collision avoidance systems, partnership announcements, and financial disclosures. Our repository includes press releases covering technological advancements in 3D video analysis, licensing agreements with automotive manufacturers, and operational developments within the intelligent transportation sector.
Key content categories include earnings reports, sensor fusion innovations, strategic collaborations, and regulatory updates. Bookmark this page for streamlined tracking of FRSX's progress in delivering reliable automotive-grade vision solutions that minimize false alerts across diverse driving conditions.
Foresight Autonomous Holdings Ltd. (FRSX) reported a GAAP net loss of $4.4 million and a non-GAAP net loss of $3.2 million for Q1 2021, reflecting increased share-based compensation expenses. The company's cash and short-term deposits stood at $56.5 million, up from $43.9 million at 2020 year-end, with shareholders' equity at $58 million. Key advancements included the sale of a QuadSight system, successful pilot projects, and partnerships aimed at commercialization in mobility tech. Despite minor impacts from COVID-19, Foresight is positioned for growth post-pandemic.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced that its affiliate, Rail Vision Ltd., signed an agreement with Hitachi Rail STS Australia to supply equipment to Rio Tinto Railway Network. The project, which aims to enhance collision detection, includes a prototype demonstration estimated at $265,000, with an option for additional services worth $133,000. Successful outcomes could lead to outfitting Rio Tinto’s fleet of 220 locomotives. The project duration is expected to be nine months, with equipment installation anticipated in Q3 2021.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced that its affiliate, Rail Vision Ltd., has filed a nonpublic draft prospectus for an initial public offering on the Tel Aviv Stock Exchange. Foresight holds a 19.36% stake in Rail Vision. The draft prospectus was submitted on April 25, 2021, with the intention of testing market conditions for a potential offering. However, no final decision on the offering has been made, and it is subject to regulatory approval. The offering will be limited to Israel and will not involve U.S. stock exchanges.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced a distribution agreement between its subsidiary, Eye-Net Mobile Ltd., and Brazilian company WebSIA. WebSIA will exclusively promote the Eye-Net™ Protect solution in Sao Paulo, aiming to enhance road safety. The agreement may expand to other territories following successful integration. The Eye-Net™ Protect app provides real-time pre-collision alerts, leveraging AI technology. This partnership aligns with Sao Paulo's smart city initiatives and could significantly increase Eye-Net's user base and market impact in Latin America.
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) has sold a prototype of its QuadSight® four-camera vision system to a major Japanese manufacturer of stereo vision systems for use in the automotive industry. This Tier One supplier will assess the prototype's thermal stereo capabilities to enhance their visible-light systems. CEO Haim Siboni emphasized the sale's significance in validating the market need for advanced stereo technology, which is crucial for ADAS and autonomous driving. The automotive stereo camera market is projected to grow significantly, with North America driving much of this growth.
Foresight Autonomous Holdings Ltd. (Nasdaq: FRSX) announced a commercial partnership between its subsidiary, Eye-Net Mobile Ltd., and SaverOne 2014 Ltd. to integrate Eye-Net’s Protect solution into SaverOne’s cell phone distraction prevention system. This collaboration aims to reduce road accidents caused by texting while driving, which accounts for 1.6 million crashes annually in the U.S. The partnership also opens potential revenue streams through license fees and mutual introductions to business relationships in Japan.
Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) announced that its subsidiary, Eye-Net Mobile Ltd., completed the first phase of a pilot project with a major Japanese vehicle manufacturer. The project evaluated the Eye-Net™ Protect solution for its smart city initiative and deemed it a valid option. Technical discussions will follow for potential integration into the smart city project. This pilot builds on a previous successful trial conducted in March 2021, highlighting Foresight's role in advancing urban safety technologies.
Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) announced the successful completion of a controlled trial for its Eye-Net™ Protect system, designed to prevent vehicle collisions. Conducted with a major Japanese vehicle manufacturer and supervised by Blue and White Robotics, the trial achieved a 95.54% success rate in simulating accidents. All alerts were issued approximately 2.4 seconds before collisions, allowing participants to brake safely. The results indicate Eye-Net Protect is ready for commercial deployment, promising significant safety benefits for the automotive industry.
Foresight Autonomous Holdings reported a successful year in 2020 despite pandemic challenges. Key milestones included prototype sales of the QuadSight® vision system to leading automotive and defense companies globally. Collaborations with FLIR Systems enhanced product offerings. The company also secured multiple patents and raised $40.4 million in capital, strengthening its financial position. Moreover, its subsidiaries, Eye-Net Mobile and Rail Vision, made significant progress, including launching pilot programs and securing commercial orders. Foresight enters 2021 with a robust balance sheet for future expansion.
Foresight Autonomous Holdings Ltd. (FRSX) reported its 2020 financial results, ending with $43.9 million in cash and short-term deposits. The company posted a GAAP operating loss of $12.84 million, a reduction from $15.03 million in 2019. Fourth-quarter GAAP net loss was $3.96 million, improved from $4.37 million year-over-year. Key developments included a $26 million capital raise and successful partnerships, including a significant investment in its affiliate Rail Vision. R&D expenses decreased, reflecting cost-cutting measures during the pandemic.
