On August 5, 2024, AEye, Inc., a leader in adaptive lidar solutions, reported its financial results for the second quarter ending June 30, 2024. The company announced the results via a press release and filed a Current Report on Form 8-K with the SEC. AEye highlighted significant OEM interest in its Apollo product following a launch event in Suzhou, China, and a successful partnership with LITEON, which has led to multiple OEM introductions and a joint product cost reduction initiative. AEye's CEO, Matt Fisch, expressed optimism about the company's trajectory and its capital-light partnership model. CFO Conor Tierney reported a strengthened balance sheet, with $28 million in cash, cash equivalents, and marketable securities, and a reduced net cash burn for the fifth...Show More

On August 5, 2024, AEye, Inc., a leader in adaptive lidar solutions, reported its financial results for the second quarter ending June 30, 2024. The company announced the results via a press release and filed a Current Report on Form 8-K with the SEC. AEye highlighted significant OEM interest in its Apollo product following a launch event in Suzhou, China, and a successful partnership with LITEON, which has led to multiple OEM introductions and a joint product cost reduction initiative. AEye's CEO, Matt Fisch, expressed optimism about the company's trajectory and its capital-light partnership model. CFO Conor Tierney reported a strengthened balance sheet, with $28 million in cash, cash equivalents, and marketable securities, and a reduced net cash burn for the fifth consecutive quarter. The company is on track to outperform its cash burn guidance for 2024 and has secured access to up to $50 million in additional liquidity. AEye also reported a GAAP net loss of $(8.0) million, or $(1.16) per share, and a non-GAAP net loss of $(6.2) million, or $(0.91) per share. The company held a conference call to discuss the results, which was accessible via their website and other platforms.