The AI startup reported a wider-than-expected GAAP loss and minimal revenue for the quarter ended March 31.
Arrive AI Inc. reported a first-quarter GAAP loss of $0.18 per share, missing estimates by $0.06. Revenue reached just $0.01 million for the period.
The company held approximately $5.7 million in cash and $2.8 million in short-term investments at quarter-end. Operating cash outflow totaled $3 million, driven by team expansion and infrastructure costs.
No immediate market reaction was disclosed in the release.