Spending growing along with successes
Foresight has recently taken its marketing and R&D efforts up a notch, achieving a cooperation agreement with a top-3 Chinese OEM, an MOU with a leading French auto-parts supplier and successful tests of Rail Vision’s systems at Trenitalia. This was reflected in strong growth in R&D and marketing-related costs in Q3. Anticipating a continuation of this trend, we have increased our EPS loss forecasts for this year and next by 11% and 13%. Nevertheless, we note that a continuation of the marketing successes in recent months should further boost the group’s value proposition. We currently derive a DCF value of NIS3.11 per share.
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