On November 12, 2024, AEye, Inc., a leader in adaptive lidar solutions, reported its financial results for the third quarter ending September 30, 2024. The company announced significant product milestones with its Apollo lidar technology, including meeting NVIDIA DRIVE Hyperion specifications and setting a new performance standard with high-resolution object detection at a distance of one kilometer. AEye also disclosed plans to establish an Apollo manufacturing line with LITEON in 2024. Financially, AEye reported quarterly revenue of $104 thousand, primarily from non-automotive customer sales, and a GAAP net loss of $(8.7) million, or $(1.01) per share. The non-GAAP net loss was $(6.0) million, or $(0.70) per share, surpassing consensus estimates. The company's cash burn was $5.6 million, better than the guided $5.9 million, and it ended the quarter...Show More

On November 12, 2024, AEye, Inc., a leader in adaptive lidar solutions, reported its financial results for the third quarter ending September 30, 2024. The company announced significant product milestones with its Apollo lidar technology, including meeting NVIDIA DRIVE Hyperion specifications and setting a new performance standard with high-resolution object detection at a distance of one kilometer. AEye also disclosed plans to establish an Apollo manufacturing line with LITEON in 2024. Financially, AEye reported quarterly revenue of $104 thousand, primarily from non-automotive customer sales, and a GAAP net loss of $(8.7) million, or $(1.01) per share. The non-GAAP net loss was $(6.0) million, or $(0.70) per share, surpassing consensus estimates. The company's cash burn was $5.6 million, better than the guided $5.9 million, and it ended the quarter with $22.4 million in cash, cash equivalents, and marketable securities. AEye's CEO and CFO emphasized the company's capital-light business model as a differentiator in the lidar market and a driver for future efficiencies and competitiveness. A conference call and webcast were held to discuss the results, with management expressing confidence in the company's trajectory and financial positioning.