Arbe Robotics (ARBE) POS AM Prospectus update (post-effective amendment)

Exhibit 99.1

Unaudited Financial Information*

Consolidated balance sheets at March 31, 2022 and December 31, 2021	2
Consolidated statements of operations for the three months ended March 31, 2022 and 2021	3
Consolidated statements of cash flows for the three months ended March 31, 2022 and 2021	4

* The unaudited financial information does not meet the requirement of interim financial statements under GAAP.

CONSOLIDATED BALANCE SHEETS

(U.S. dollars in thousands)

	March 31, 2022			December 31, 2021
Current Assets:	(Unaudited)			(Audited)
Cash and cash equivalents		87,255			100,811
Restricted cash		132			125
Short term bank deposits		400			—
Trade Receivable		653			187
Prepaid expenses and other receivables		3,397			3,058
Total current assets		91,837			104,181
Non-Current Assets
Operating lease right-of-use assets		738			—
Property and equipment, net		1,375			1,165
Total non-current assets		2,113			1,165
Total assets		93,950			105,346
Current liabilities:
Short term loan		5,063			4,916
Trade payables		1,412			2,005
Operating lease liabilities		396			—
Employees and payroll accruals		3,467			3,095
Deferred revenues		731			726
Accrued expenses and other payables		1,860			4,725
Total current liabilities		12,929			15,467
Long term liabilities
Operating lease liabilities		326
Warrant Liability		6,774			10,056
Total long-term liabilities		7,100			10,056
SHAREHOLDERS’ EQUITY:
Ordinary Shares		*	)		*	)
Additional paid-in capital		201,423			199,469
Accumulated Deficit		(127,502	)		(119,646	)
Total shareholders’ equity		73,921			79,823
Total liabilities and shareholders’ equity		93,950			105,346

*) Represents less than $1.

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CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except share and per share data)

	3 Months Ended March 31, 2022			3 Months Ended March 31, 2021
	(Unaudited)			(Unaudited)
Revenues		876			580
Cost of revenues		384			323
Gross Profit		492			257
Operating Expenses:
Research and development, net		7,803			3,711
Sales and marketing		1,182			295
General and administrative		2,145			521
Total operating expenses		11,130			4,527
Operating loss		(10,638	)		(4,270	)
Financial expenses (Income), net		(2,782	)		14,106
Net loss		(7,856	)		(18,376	)
Basic and diluted net loss per share attributable to Ordinary Shareholders		(0.12	)		(1.98	)
Weighted-average number of shares used in computing basic and diluted net loss per share attributable to Ordinary Shareholders*		63,034,545			9,300,548

* The number of ordinary shares retroactively reflects the 46.25783-for-one stock split of the ordinary shares which was effective on October 7, 2021.

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CONSOLIDATED STATEMENTS OF CASH FLOWS

(U.S. dollars in thousands)

	3 Months Ended March 31, 2022			3 Months Ended March 31, 2021
Cash flows from operating activities:	(Unaudited)			(Unaudited)
Net Loss		(7,856	)		(18,376	)
Adjustments to reconcile loss to net cash used in operating activities:
Depreciation		105			53
Stock-based compensation		1,790			146
Warrants to service providers		69			19
Revaluation of warrants and accretion		(3,135	)		3,275
Revaluation of convertible loan		—			10,762
Change in operating assets and liabilities:
Increase in trade receivable		(465	)		(271	)
Increase in prepaid expenses and other receivables		(339	)		(219	)
Operating lease ROU assets and liabilities, net		(16	)		—
Increase (decrease) in trade payables		(668	)		66
Increase in employees and payroll accruals		372			105
Increase in deferred revenue		5			34
Increase (decrease) in accrued expenses and other payables		(2,865	)		364
Net cash used in operating activities		(13,003	)		(4,042	)
Cash flows from investing activities:
Change in bank deposits		(400	)		—
Purchase of property and equipment		(242	)		(340	)
Net cash used in investing activities		(642	)		(340	)
Cash flows from financing activities:
Repayment of long-term loan		—			(451	)
Proceeds from exercise of warrants		—			2,440
Proceeds from exercise of options		96			34
Proceeds from convertible loan		—			11,337
Net cash provided by financing activities		96			13,360
Increase (decrease) in cash, cash equivalents and restricted cash		(13,549	)		8,978
Cash, cash equivalents and restricted cash at the beginning of the year		100,936			2,954
Cash, cash equivalents and restricted cash at the end of the period		87,387			11,932

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