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Embark Technology, Inc.NasdaqGM:EMBK Stock Report

Market Cap US$70.2m
Share Price
n/a
My Fair Value
n/a
1Y-72.8%
7D2.5%
Portfolio Value
​
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Embark Technology, Inc.

NasdaqGM:EMBK Stock Report

Market Cap: US$70.2m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Embark Technology (EMBK) Stock Overview

Embark Technology, Inc. develops autonomous driving software solutions for the truck freight industry in the United States. More details

EMBK fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance0/6
Financial Health4/6
Dividends0/6

Risk Analysis

Earnings have declined by 57.4% per year over past 5 years

Makes less than USD$1m in revenue ($0)

Has less than 1 year of cash runway

Does not have a meaningful market cap ($70M)

+ 1 more risk

EMBK Community Fair Values

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Embark Technology, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Embark Technology
Historical stock prices
Current Share PriceUS$2.88
52 Week HighUS$26.20
52 Week LowUS$2.02
Beta1.58
1 Month Change1.05%
3 Month Change1.05%
1 Year Change-72.81%
3 Year Changen/a
5 Year Changen/a
Change since IPO-98.58%

Recent News & Updates

Recent updates

Seeking Alpha • Sep 12

Embark Trucks appoints new board chair

Autonomous technology developer for the trucking industry, Embark Trucks (NASDAQ:EMBK), appointed Penny Herscher independent board chair and chair of the compensation committee. Herscher has more than 15 years of experience as a CEO in Silicon Valley. Shares were trading +0.29% pre-market. Source: Press Release
Seeking Alpha • Aug 11

Embark Technology GAAP EPS of -$0.03 beats by $0.10

Embark Technology press release (NASDAQ:EMBK): Q2 GAAP EPS of -$0.03 beats by $0.10. Revising full year free cash flow guidance to $100 to $115 million versus prior guidance of $125 to $140 million. Focused hiring allows to revised stock-based compensation expense guidance for the full year to $60 to $65 million from $70 to $75 million. Shares +1.6%.
Seeking Alpha • Jul 11

Embark Tech Faces Uncertainties In Push For Autonomous Truck Operations

Embark Technologies went public in a SPAC merger in November 2021 which valued the deal at $5 billion. The company is developing autonomous truck technologies for use in the U.S. EMBK faces regulatory, technological and economic risks as it seeks to further develop its advanced system. I'm on Hold for EMBK for the near term. A Quick Take On Embark Technology Embark Technology, Inc. (EMBK) reported its Q1 2022 financial results in May, continuing the firm’s pre-revenue status while increasing its operating losses significantly. The company is developing what it calls a "full stack" autonomous truck driving system in the United States. I see significant uncertainties, including regulatory, technological and economic, so I’m on Hold for Embark for the near term. Embark Overview San Francisco-based Embark was founded in 2016 to create autonomous truck driving software and monitoring capabilities for use in the United States. The firm is headed by co-founder and CEO Alex Rodrigues, who was previously co-founder at Varden Labs and a software engineer at Khan Academy and Nuance Communications. The company’s primary offerings include: Embark Driver - driving software Universal Interface - OEM integration Guardian - Dispatch and monitoring system The firm does not yet have paying customers as its system is still in testing and has not been approved for fully commercial operation in California or other U.S. states in which it seeks to operate. In November 2021, Embark merged with SPAC Northern Genesis Acquisition II in a deal valued at around $5 billion at the time. Currently, Embark’s market capitalization is around $246 million. Embark’s Market & Competition According to a 2020 market research report by Fortune Business Insights, the global market for autonomous trucks and related technologies was $1.1 billion in 2019 and is forecast to reach $2.0 billion by 2027. This represents a forecast CAGR of 12.6% from 2020 to 2027. The main drivers for this expected growth are quick progress on sensor technologies and related software processing capabilities as well as improved wireless networks enabling greater truck sector autonomy. Also, below is a chart showing the historical and projected growth trajectory for autonomous trucking in the U.S.: N. America Autonomous Truck Market (Fortune Business Insights) Major competitive or other industry participants include: Google UPS TuSimple Continental AB Volvo Daimler Caterpillar NVIDIA Aptiv Tesla Others Embark’s Recent Financial Performance & Metrics The company has yet to report revenues. Operating losses by quarter have worsened sharply in recent quarters: 5 Quarter Operating Income (Seeking Alpha) Earnings per share (Diluted) have remained negative: 5 Quarter Earnings Per Share (Seeking Alpha) In the past 7 months or so, EMBK’s stock price has fallen 95 percent vs. the U.S. S&P 500 Index’s drop of around 12 percent, as the chart below indicates: 52 Week Stock Price (Seeking Alpha) Below is a table of relevant capitalization and valuation figures for the company: Measure Amount Enterprise Value $8,240,000 Market Capitalization $245,920,000 Enterprise Value / Sales [FWD] 30.91 Price / Sales [FWD] 922.17 Earnings Per Share (Fully Diluted) -$1.10 (Source - Seeking Alpha) Commentary On Embark In its last conference call (Source - Seeking Alpha), covering Q1 2022’s results, management highlighted the receipt of its first trucks from Knight-Swift for its Truck Transfer Program, where "carriers own, operate, and maintain an Embark-equipped autonomous truck." The firm recently started 24-hour daily testing of its technologies on the I-10 interstate freeway in Texas which will enable it to double the testing capacity as well as include the night time driving environment in its testing functions. CEO Rodrigues also reiterated the recent inclusion of US Xpress in its partner development program and plans including preparing US Xpress terminals ‘to receive and launch Embark-equipped autonomous trucks.’ Notably, the firm is making progress toward its 2022 goals for launching the backbone of its system across the Sunbelt states. However, in California, the company, along with numerous other industry participants, has signed a letter to the governor urging the state to lift its ban on autonomous semi trailer trucks on public roads.
Seeking Alpha • Jan 04

Embark: Autonomous Trucking On The Horizon

Embark Technology offers an attractive way to play self-driving trucks after the stock falls below $9 following the de-SPAC transaction. The company only raised approximately half of the intended cash from the SPAC transaction due to nearly 30 million shares redeemed. The stock is cheap with a $4 billion market cap and the promise of AV trucking, but Embark likely needs to raise more cash in the near term.

Shareholder Returns

EMBKUS SoftwareUS Market
7D2.5%1.2%-0.3%
1Y-72.8%-8.9%24.1%

Return vs Industry: EMBK underperformed the US Software industry which returned 44.1% over the past year.

Return vs Market: EMBK underperformed the US Market which returned 14.1% over the past year.

Price Volatility

Is EMBK's price volatile compared to industry and market?
EMBK volatility
EMBK Average Weekly Movement3.8%
Software Industry Average Movement9.7%
Market Average Movement7.2%
10% most volatile stocks in US Market16.2%
10% least volatile stocks in US Market3.2%

Stable Share Price: EMBK has not had significant price volatility in the past 3 months.

Volatility Over Time: EMBK's weekly volatility has decreased from 19% to 4% over the past year.

About the Company

FoundedEmployeesCEOWebsite
2016329Alex Rodriguesembarktrucks.com

Embark Technology, Inc. develops autonomous driving software solutions for the truck freight industry in the United States. Its solutions include Embark Driver, an automated driving system software; Embark Universal Interface, an interoperable self-driving stack that works across truck OEM platforms; and Embark Guardian, a cloud-based autonomous fleet management solution that gives carriers control over dispatching and management of their autonomous fleet operations. Embark Technology, Inc. was incorporated in 2016 and is headquartered in San Francisco, California.

Embark Technology, Inc. Fundamentals Summary

How do Embark Technology's earnings and revenue compare to its market cap?
EMBK fundamental statistics
Market capUS$70.20m
Earnings (TTM)-US$147.78m
Revenue (TTM)n/a
0.0x
P/S Ratio
-0.5x
P/E Ratio

Is EMBK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
EMBK income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
Other ExpensesUS$147.78m
Earnings-US$147.78m

Last Reported Earnings

Mar 31, 2023

Next Earnings Date

n/a

Earnings per share (EPS)-6.06
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio1.3%

How did EMBK perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2023/08/03 01:36
End of Day Share Price 2023/08/01 00:00
Earnings2023/03/31
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Embark Technology, Inc. is covered by 5 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Benjamin KalloBaird
George GianarikasBaird
David VernonBernstein