Foresight signs Japan ADAS deal with $10.5M revenue potential

Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) announced a Final Development and Commercialization Agreement with a Japanese in-vehicle AI device manufacturer and Cornes Technologies Limited for integrating its ScaleCam stereoscopic 3D perception software into AI systems.

The agreement includes a design freeze and transfer to production phase, with serial production expected to begin in early 2027. Foresight projects potential revenue of up to $10.5 million between 2027 and 2030 based on a software licensing model, driven by the manufacturer's forecasted demand of approximately 400,000 units under a volume-based recurring licensing arrangement.

Under the agreement, Foresight will supply its ScaleCam 3D perception software package, which provides high-resolution depth maps, dense point clouds, and obstacle detection capabilities. The software will be optimized for the manufacturer's hardware and customized stereo cameras.

The manufacturer's system is a retrofit in-vehicle AI solution offering advanced driver assistance systems (ADAS), navigation, conversational AI, entertainment, and emergency response capabilities. The system targets fleet and consumer markets in Japan and uses deep learning based on real-world driving data.

The parties plan to integrate the joint solution with original equipment manufacturers initially in Japan and later with global vehicle OEMs and Tier 1 suppliers.

"This Agreement marks a significant milestone as we transition Foresight's proven 3D stereo vision software into a serial finished goods production in the Japanese market," said Haim Siboni, CEO of Foresight. The company expects initial revenue to begin at the start of 2027.

Foresight recently entered into a non-binding term sheet with VisionWave Holdings, Inc. (NASDAQ: VWAV) for a strategic investment where VisionWave would acquire up to 51% of Foresight in exchange for approximately $17.5 million in VisionWave common stock.

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