NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 02/26/2021 4:26:10 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Releases Financial Report for Q4 and FY 2020
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision, has shared its financial numbers for the fourth quarter and full year 2020. For Q4, the company reports $43.9 million in cash and short-term deposits; for the full year, Foresight reported a GAAP operating loss of $12.84 million, which is approximately 15% less than the GAAP operating loss of $15.03 million reported for 2019. Foresight reported a GAAP net loss of $3.96 million for Q4 2020 and $15.32 million for the full year; the company noted a non-GAAP net loss of $3.71 million for the fourth quarter and $14.16 million for the full year 2020. “We achieved important key milestones during the fourth quarter of 2020 and maintained solid progress throughout the year in spite of the COVID-19 pandemic,” said Foresight CEO Haim Siboni in the press release. “We are entering 2021 with a strong balance sheet, following successful capital raises including $26 million raised in our registered direct offering announced on December 28, 2020. We will continue to build on our innovative product portfolio, which has been validated through key prototype orders and partnerships in Europe, Asia and North America.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX), an innovator in automotive vision, has shared its financial numbers for the fourth quarter and full year 2020. For Q4, the company reports $43.9 million in cash and short-term deposits; for the full year, Foresight reported a GAAP operating loss of $12.84 million, which is approximately 15% less than the GAAP operating loss of $15.03 million reported for 2019. Foresight reported a GAAP net loss of $3.96 million for Q4 2020 and $15.32 million for the full year; the company noted a non-GAAP net loss of $3.71 million for the fourth quarter and $14.16 million for the full year 2020. “We achieved important key milestones during the fourth quarter of 2020 and maintained solid progress throughout the year in spite of the COVID-19 pandemic,” said Foresight CEO Haim Siboni in the press release. “We are entering 2021 with a strong balance sheet, following successful capital raises including $26 million raised in our registered direct offering announced on December 28, 2020. We will continue to build on our innovative product portfolio, which has been validated through key prototype orders and partnerships in Europe, Asia and North America.”
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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