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NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Releases Financial Report for Q4 and FY 2020

Company: Foresight Autonomous Holdings Ltd. (FRSX)
Category: News

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.”

To view the full press release, visit https://nnw.fm/sjDdx

About Foresight Autonomous Holdings Ltd.

Foresight is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the company’s wholly owned subsidiaries, Foresight 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’s vision solutions include modules of automatic calibration, sensor fusion and dense 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 pre-collision 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://nnw.fm/FRSX

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