Foresight Autonomous Hldgs Ltd Stock Price, News & Analysis

Foresight Autonomous Holdings (FRSX) has successfully regained compliance with Nasdaq's minimum bid price requirement. The company, which was notified of non-compliance on September 3, 2024, due to its American Depositary Shares (ADSs) failing to maintain a closing bid price of $1.00 or more for 30 consecutive business days, has now met the compliance criteria.

From December 20, 2024, through January 6, 2025, the company's ADSs maintained a closing bid price of $1.00 or higher for more than the required 10 consecutive trading days. This achievement has resolved the previous non-compliance issue with Nasdaq Listing Rule 5550(a)(2), ensuring continued listing on The Nasdaq Capital Market.

Foresight Autonomous Holdings (Nasdaq: FRSX) has signed a commercial cooperation agreement with KONEC, a leading South Korean Tier-One automotive supplier, to distribute advanced 3D perception solutions in South Korea. The deal, initially announced on December 9, 2024, forecasts commercial sales of $1.5 million by 2027, potentially growing to $7 million by 2029.

KONEC will exclusively distribute Foresight's technology in South Korea, targeting original equipment manufacturers and business partners. The agreement follows a successful co-development project with KONEC, sponsored by Hyundai's Foundation. The companies are considering establishing a 50-50 joint venture in South Korea, including a manufacturing facility for advanced solutions.

Foresight Autonomous Holdings (FRSX) announced that its subsidiary, Eye-Net Mobile, has entered into a multi-phase agreement with SoftBank and a leading Japanese vehicle manufacturer to evaluate Eye-Net's cellular vehicle-to-everything (C-V2X) technology. The collaboration involves a paid proof of concept (POC) project utilizing SoftBank's cellular network infrastructure.

The project will progress through multiple phases: first evaluating the Eye-Net™ Sense demonstration kit in standalone mode, potentially followed by integration into the manufacturer's infotainment systems, and finally possible integration into advanced driver assistance systems for full commercial deployment in vehicles. The initiative focuses on implementing Eye-Net's non-line-of-sight collision avoidance solution to enhance road safety.

Foresight Autonomous Holdings (NASDAQ: FRSX) has signed a commercial cooperation agreement with KONEC, a South Korean Tier-One automotive supplier, to distribute advanced 3D perception solutions in South Korea. The agreement targets integration into various sectors including passenger vehicles, commercial vehicles, autonomous logistics, and heavy machinery.

KONEC forecasts commercial sales of $1.5 million by 2027, with projected revenues growing up to $7 million by 2029. The agreement grants KONEC exclusive distribution rights in South Korea, subject to meeting sales targets. The companies are also considering establishing a 50-50 joint venture in South Korea to facilitate business cooperation and potentially set up a manufacturing facility.

Foresight Autonomous Holdings (FRSX) has signed a multi-phase collaboration agreement with Bumhan Motors, a South Korean electric bus manufacturer, to develop advanced 3D perception solutions for autonomous electric buses. The partnership follows a successful proof-of-concept project demonstrating Foresight's technology effectiveness.

The initial phase focuses on improving operational safety and vision accuracy of Bumhan's electric buses, with plans to expand into semi- and fully autonomous commercial vehicles. The parties aim to finalize a commercial agreement by Q1 2025. Bumhan projects sales of 200 electric buses in 2025, targeting 3,000 units annually by 2029.

Foresight Autonomous Holdings (NASDAQ: FRSX) has signed a three-way strategic cooperation agreement with South Korean companies 7meerkat and KONEC to develop and commercialize AI-powered smart parking solutions. The collaboration follows a successful proof-of-concept project and will integrate Foresight's 3D perception technology with 7meerkat's parking management systems, while KONEC will lead market promotion.

The solutions will feature AI-driven vehicle identification, license plate recognition, and monitoring capabilities for electric vehicles and vehicle conditions. The parties aim to finalize a commercial agreement by the end of Q1 2025. The technology combines visible-light and thermal infrared cameras to enhance urban parking efficiency and user experience, particularly in harsh weather and low-light conditions.

Foresight Autonomous Holdings (Nasdaq: FRSX) announced a three-way collaboration agreement with GINT and KONEC to develop advanced 3D perception solutions for autonomous tractors and construction equipment in South Korea. The initial phase focuses on designing autonomous tractor kits integrating Foresight's 3D perception capabilities, including visible-light and thermal infrared cameras. The parties aim to expand into semi-autonomous and fully autonomous solutions for the automotive industry. A commercial agreement is expected to be finalized by the end of Q1 2025, with KONEC leading market penetration and GINT integrating Foresight's technology into their autonomous control logic units.

Foresight Autonomous Holdings (FRSX) reported Q3 2024 financial results showing a GAAP net loss of $3.33M, down 20.8% from $4.21M in Q3 2023. Revenue decreased to $111,000 from $304,000 year-over-year. The company announced several strategic collaborations, including agreements with SUNWAY-AI for autonomous logistics vehicles, BuilderX Robotics for heavy machinery operations, and China Design Group for smart transportation solutions. Operating expenses decreased across all categories, with R&D expenses down 15.4%, S&M expenses down 48.3%, and G&A expenses down 14.4%. Cash position stood at $8.94M as of September 30, 2024.

Eye-Net Mobile, a subsidiary of Foresight Autonomous Holdings (Nasdaq: FRSX), has signed an agreement with Software République to integrate and test its vehicle-to-everything (V2X) collision avoidance solution in Bordeaux, France. The project involves collaboration with major partners including Allianz IARD, Bordeaux University, and Keolis Bordeaux Métropole Mobilités.

The multi-phase collaboration aims to deploy Eye-Net's solution across dozens of European cities, starting with testing in controlled environments before expanding to larger-scale evaluations. The initiative is part of Bordeaux Metropole's comprehensive mobility plan focusing on sustainable transportation and road safety.