NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 11/15/2018 6:49:21 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Posts Q3 2018 Financial Results
Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning reported financial results for the third quarter ended September 30, 2018. Among other highlights, the report noted that the company ended the quarter with $19.3 million in cash and short-term deposits. Foresight also reported GAAP net loss of $3.75 million and non-GAAP net loss of $3.76 million. “During the third quarter, we continued early sales of our QuadSight prototype and expanded our geographic footprint into Asia,” Foresight Autonomous Holdings CEO Haim Siboni stated in the news release. “We are pleased that a leading Chinese electric and autonomous vehicle manufacturer has recently purchased our QuadSight prototype. China is a market leader in electric vehicle sales, so the opportunity to test and potentially integrate our system opens the door to substantial future possibilities for revenue growth. Furthermore, additional customer relationships enable us to modify and improve our system based on market needs, improving our competitive edge.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Automotive technology innovator Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning reported financial results for the third quarter ended September 30, 2018. Among other highlights, the report noted that the company ended the quarter with $19.3 million in cash and short-term deposits. Foresight also reported GAAP net loss of $3.75 million and non-GAAP net loss of $3.76 million. “During the third quarter, we continued early sales of our QuadSight prototype and expanded our geographic footprint into Asia,” Foresight Autonomous Holdings CEO Haim Siboni stated in the news release. “We are pleased that a leading Chinese electric and autonomous vehicle manufacturer has recently purchased our QuadSight prototype. China is a market leader in electric vehicle sales, so the opportunity to test and potentially integrate our system opens the door to substantial future possibilities for revenue growth. Furthermore, additional customer relationships enable us to modify and improve our system based on market needs, improving our competitive edge.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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