Arbe Robotics Ltd. Q4 FY2024 earnings call

• Focused on driving radar evolution with cutting-edge solutions setting industry standards.
• Top car manufacturers selecting radar suppliers, with one top 10 global auto OEM choosing their chipset for next-gen imaging radar.
• Collaboration with Zenseact on 4D high-resolution imaging radar, collaboration with NVIDIA showcased at CES, and collaboration with HiRain for an ADAS system using their chipset.
• Collaboration with a European truck manufacturer to integrate imaging radar.
• Sensrad signed a $7.3 million framework agreement for 4D imaging radar.
• Successful fundraising initiatives totaling nearly $17 million, including underwritten public offering and convertible bond conversions.

Total revenue in the fourth quarter of 2024 was $0.1 million compared to $0.35 million in Q4 2023. Full year 2024 total revenue was $0.8 million vs $1.5 million in 2023. Backlog as of December 31, 2024 was $0.3 million. Gross margin loss for Q4 2024 was $0.2 million, similar to Q4 2023; full year 2024 gross margin loss was $0.8 million. Operating expenses in Q4 2024 were $12.6 million vs $11.9 million in Q4 2023; full year 2024 operating expenses totaled $48.9 million vs $46.8 million in 2023. R&D expenses in Q4 2024 were $9 million vs $8.4 million in Q4 2023; full year 2024 R&D expenses were $35.1 million vs $34.1 million in 2023. Operating loss in Q4 2024 was $12.8 million vs $12.1 million in Q4 2023; full year 2024 operating loss was $49.7 million vs $46.9 million in 2023. Adjusted EBITDA in Q4 2024 was a loss of $9 million vs $8.2 million in Q4 2023; full year 2024 adjusted EBITDA was a loss of $33.3 million vs $32.5 million in 2023. Net loss in Q4 2024 was $12.2 million vs $9.3 million in Q4 2023; full year 2024 net loss was $49.3 million vs $43.5 million in 2023. As of Dec 31, 2024, cash was $24.6 million; post-fundraising in Jan 2025, cash was above $70 million.

• 2025 revenue expected in the range of $2 million to $5 million, weighted towards the end of the year.
• 2025 adjusted EBITDA projected to be in the range of $29 million to $35 million loss.
• Goal to pursue four design-ins with automakers in 2025.

• Broader economic shifts leading to short-term delays in automakers' rollout of advanced driver assist systems.

Q: About 2025 revenue forecast and programs driving it A: Mentioned Tianyi, trucks in Europe, and HiRain projects as programs driving revenue, expecting to start shipping chips once full production is achieved Q: Current cash balance and share count post-raise A: Cash above $70 million, shares count 85.7 million Q: China EV market opportunity A: Chinese car manufacturers looking for imaging radar for hands-free driving Q: OEM discussions A: Shortlisted in most evaluations, with advantage over competitors in performance/price compared to NXP and Mobileye Q: OpEx glide path A: OpEx guidance $29M-$35M, with additional investments of $5M-$15M over next few years