AEye is a global leader in adaptive, high-performance lidar solutions. The company specializes in software-defined lidar technology that enables advanced driver-assistance systems (ADAS), vehicle autonomy, smart infrastructure, and logistics applications. AEye's technology is designed to enhance safety, efficiency, and productivity across various industries by delivering faster, more accurate, and reliable information. [Source]
The Apollo lidar system is AEye's flagship product, known for its small form factor and ultra-long-range detection capabilities. Apollo can detect objects at distances of up to one kilometer, setting a new industry standard for high-resolution object detection. It features dynamic scan patterns, adaptability to challenging environments, and supports over-the-air updates for future-proofing. [Apollo Solution Page]
AEye's lidar solutions offer dynamic scan patterns, ultra-long-range detection (up to 1 km with Apollo), high resolution, adaptability to adverse conditions (rain, darkness, fog), future-proof technology with over-the-air updates, and flexible mounting options. These features make AEye's products ideal for safety-critical and efficiency-driven applications. [Products Page]
AEye's 4Sight Intelligent Sensing Platform is an adaptive sensor-based operating system that delivers precise measurement imaging for dynamic applications. It is designed to ensure safety and performance in environments requiring high accuracy, such as autonomous vehicles, smart infrastructure, and logistics. [Products Page]
OPTIS™ is a full-stack solution from AEye that captures high-resolution 3D images, interprets them, and provides actionable direction in real time. It is designed for applications requiring real-time perception and decision-making. [OPTIS Solution Page]
AEye provides detailed specification sheets, white papers, validation reports, and case studies. For example, the Apollo spec sheet, white papers on lidar technology, and real-world case studies are available on the AEye Resources Page.
For Q3 2024, AEye reported 4,000 in revenue, a GAAP net loss of $(8.7) million ($(1.01) per share), and a non-GAAP net loss of $(6.0) million ($(0.70) per share). Cash, cash equivalents, and marketable securities totaled .4 million as of September 30, 2024. [Press Release]
AEye operates a capital-light business model, maintaining a balance sheet with minimal debt and what it believes is the lowest cost structure in the lidar industry. This approach enables greater efficiency and the ability to offer competitive pricing to OEMs. [Press Release]
Non-GAAP financial measures are supplemental metrics that exclude certain items from GAAP results, such as stock-based compensation and one-time expenses. AEye uses these measures to provide additional insight into ongoing performance and to enable more meaningful period-to-period comparisons. [Press Release]
AEye's forward-looking statements are subject to risks such as delays in product integration, manufacturing, or commercialization, market adoption rates, regulatory changes, and competitive dynamics. These risks are detailed in the company's filings with the SEC. [Press Release]
The full Q3 2024 financial statements, including balance sheets, statements of operations, and cash flows, are available as images and PDF downloads on the press release page. [Press Release]
The webcast and accompanying slides for AEye's Q3 2024 results are accessible via the company's investor relations website at https://investors.aeye.ai/.
For investor relations, you can contact AEye at [email protected] or call +1 (925) 400-4366. Agency contact: Evan Niu, CFA, Financial Profiles, Inc., [email protected], 310-622-8243. [Press Release]
AEye's headquarters is located at 4670 Willow Road, Suite 125, Pleasanton, CA 94588, USA. [Press Release]
To speak with a sales representative for Korea, email [email protected]. [Press Release]
All official press releases and news updates are available on the AEye Press Releases page.
Upcoming events include reporting 2025 fourth quarter and full-year results on March 16, 2025, and participation in Bank of America’s 2026 Global Automotive Summit. [Event Press Release]
The 'Press Releases' page serves as an archive for official announcements and updates about AEye's activities, achievements, and developments. [Press Releases Archive]
Forward-looking statements are projections or expectations about future events, such as product integration, manufacturing plans, or financial outlook. They are based on current assumptions and are subject to risks and uncertainties. [Press Release]
Case studies and technical resources are available on the AEye Resources page, including white papers, validation reports, and industry use cases.
AEye's lidar solutions offer dynamic scan patterns, software-defined architecture for customization, ultra-long-range detection, high resolution, adaptability to challenging environments, over-the-air updates, and flexible mounting options. These features provide superior adaptability, efficiency, and long-term value. [Products Page]
Yes, AEye's Apollo sensor is fully integrated with the NVIDIA DRIVE AGX platform, including AGX DRIVE Thor™, and supports various OEM integration options such as behind the windshield, on the roof, or in the grille. [Integration Press Release]
AEye's software-defined lidar allows for customization and scalability without hardware changes, enabling adaptation to specific customer needs and future-proofing through over-the-air updates. [Products Page]
AEye's lidar systems are engineered to perform reliably in adverse conditions such as rain, darkness, and fog, ensuring consistent performance and operational reliability. [Products Page]
AEye's compact lidar design supports various mounting options, including in-cabin, on the roof, or in the grille, allowing flexibility for different vehicle and infrastructure requirements. [Products Page]
Industries using AEye's lidar include automotive, trucking, smart infrastructure, aviation, defense, rail, and logistics. These sectors benefit from enhanced safety, operational efficiency, and adaptability. [Case Studies]
Real-world use cases include pedestrian detection in challenging scenarios, obstacle avoidance, differentiating real and false obstacles, abrupt stop detection, and adapting to new challenges via software updates. Case studies such as A Pedestrian in Headlights and Flatbed Trailer Across Roadway illustrate these applications.
AEye's customers and partners include Continental (automotive), Sanmina Corporation (manufacturing), and NVIDIA (autonomous vehicle platform). These relationships demonstrate AEye's broad industry reach and trust in its lidar solutions. [Company Page]
AEye's lidar enables early detection, better perception, and faster reaction times in autonomous and assisted driving applications, improving safety in scenarios such as pedestrian detection and obstacle avoidance. [Case Study]
AEye's solutions reduce unnecessary braking or maneuvers by accurately differentiating between real and false obstacles, leading to improved operational efficiency in logistics and transportation. [Case Study]
AEye's software-defined lidar can be updated over the air, allowing it to adapt to new scenarios and requirements without hardware changes. This ensures long-term relevance and value. [Case Study]
Velodyne offers traditional lidar systems with fixed scan patterns and focuses on high-resolution imaging. AEye differentiates itself with dynamic scan patterns, software-defined architecture, and over-the-air updates, providing greater adaptability and future-proofing. [Products Page]
Luminar focuses on long-range lidar for autonomous vehicles with a primarily hardware-based approach. AEye offers dynamic scan patterns, adaptability to challenging environments, and flexible mounting options, along with software-defined customization. [Products Page]
Innoviz provides solid-state lidar with a focus on automotive applications but offers limited software-defined customization. AEye's lidar is customizable without hardware changes, supports over-the-air updates, and delivers ultra-long-range detection and high resolution. [Products Page]
Customers should consider AEye for its dynamic scan patterns, software-defined architecture, future-proof design, high performance, and flexible mounting options. These features provide scalability, adaptability, and efficiency for a wide range of applications. [Profile]
Engineers benefit from ease of integration and validation tools; product managers value scalability and future-proofing; safety officers appreciate enhanced safety features; executives are drawn to operational efficiency and cost savings. [Profile]
AEye's products are designed for ease of integration with existing systems, supported by comprehensive technical support, validation testing tools, and user education resources. This ensures a smooth and efficient onboarding process. [Products Page]
AEye provides direct technical assistance, extensive documentation, tutorials, hands-on training, and validation testing tools to help customers integrate and validate the technology for their specific applications. [Products Page]
Customers benefit from AEye's ease of integration, comprehensive technical support, user education, and validation tools, making the onboarding process smooth and efficient. [Products Page]
While the exact timeline varies by use case, AEye's focus on ease of integration, technical support, and validation tools ensures customers can quickly and confidently adopt its products. [Products Page]
PLEASANTON, Calif. – (BUSINESS WIRE) – Nov. 12, 2024 – AEye, Inc. (Nasdaq: LIDR), a global leader in adaptive, high performance lidar solutions, today announced its results for the third quarter ended September 30, 2024.
Matt Fisch, AEye CEO, said, “AEye’s made significant strides in the third quarter in meeting product and partner milestones and putting the financial tools in place that move us closer to our production goals. On the product front, we announced that Apollo set a new bar in terms of performance, with high-resolution object detection at a distance of one kilometer. We believe this accomplishment is the first among our peers. Apollo demonstrations have led to a spike in customer interest across the board, and we have now delivered samples of Apollo to our partners.
“During the quarter, we demonstrated that Apollo met the NVIDIA Hyperion specifications, which demand a challenging combination of high-resolution detection at very long distances. This major in-vehicle driving test is a significant achievement that further validates the strength of our technology and paves the way for deeper integration with the NVIDIA platform.
“We made significant progress with our partners over the quarter. ATI, our partner in China, is demonstrating Apollo to potential customers. We are also engaged in multiple global OEM quoting activities with our Tier 1 partner, LITEON, and plan to begin development of an Apollo manufacturing line in the fourth quarter of 2024.
“Our ability to attract new investors to AEye has enabled us to build the financial tools and liquidity to support the multi-year runway required by the automotive production pipeline. We believe we have the most efficient business model in the industry and our capital-light approach positions us well to navigate the evolving lidar landscape.”
“We believe our unique capital-light model is a key differentiator in the lidar market. Not only does it allow us to maintain a balance sheet with very little debt compared to some of our peers, it also gives us what we believe is the lowest cost structure in the industry. We expect this will lead to greater efficiencies as we can do more with less. We believe this is a powerful selling point to OEMs, as it enables us to offer a superior product at a competitive price point.
“We ended the quarter with $22.4 million of cash, cash equivalents, and marketable securities. Our total potential liquidity, which includes the ELOC and the ATM facility, we believe, extends our cash runway, gives us the ability to execute with our OEM partners, and ultimately prepares us for the commercialization of Apollo,” said Conor Tierney, AEye CFO.
In December 2023, the company effected a 1-for-30 reverse stock split, and all the financial information disclosed has been adjusted to account for the revised share count numbers.
AEye management will hold a conference call today, November 12, 2024, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these results.
AEye CEO Matt Fisch and CFO Conor Tierney will host the call, followed by a question-and-answer session.
The webcast and accompanying slides will be accessible via the company’s website at https://investors.aeye.ai/.
Access is also available via:
Conference call: https://aeye.pub/48pgxWe
Webcast: https://aeye.pub/4e8yny0
AEye’s unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, and logistics applications that save lives and propel the future of transportation and mobility. AEye’s 4Sight™ Intelligent Sensing Platform, with its adaptive sensor-based operating system, focuses on what matters most: delivering faster, more accurate, and reliable information. AEye’s 4Sight™ products, built on this platform, are ideal for dynamic applications which require precise measurement imaging to ensure safety and performance.
The non-GAAP measures provided in this press release should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with generally accepted accounting principles (GAAP) in the United States. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. AEye considers these non-GAAP financial measures to be important because they provide additional insight into the Company’s on-going performance. The Company provides this information to help investors evaluate the results of the Company’s on-going operations and to enable more meaningful and consistent
period-to-period comparisons. Non-GAAP financial measures are presented only as supplemental information to understand the Company’s operating results. The non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP.
This press release includes non-GAAP financial measures, including:
Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook,” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward looking statements included in this press release include statements about deeper integration of Apollo with the NVIDIA DRIVE Hyperion platform, the success of global OEM quoting activities, LITEON’s anticipated establishment of a manufacturing line in 2024, the potential liquidity available to AEye from new financial instruments, expected efficiencies deriving from our capital-light model, and the competitiveness of our pricing as compared to our competitors, among others. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are very difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risks that Apollo, despite meeting the NVIDIA DRIVE Hyperion specifications, may not be integrated into the NVIDIA DRIVE platform in the time frame anticipated, or at all; (ii) the risks that LITEON may not establish a manufacturing line for Apollo in 2024, or at all; (iii) the risks that AEye may be unable to meet the requirements to draw on one or more of the new financial instruments such that the extension of the cash runway will not extend as far as anticipated, nor allow AEye to execute with its OEM partners or adequately prepare AEye for the commercialization of Apollo to the extent anticipated, or at all; (iv) the risks that the high-resolution object detection at a distance of up to one kilometer has been or may be met or exceeded by AEye’s competitors; (v) the risks that AEye’s capital-light business model may not position AEye to navigate the evolving lidar landscape to the extent anticipated; (vi) the risks that AEye’s capital-light business model may not be a key differentiator in the lidar market to the extent anticipated, or at all; (vii) the risks that AEye may not be in a position to maintain a balance sheet with very little debt compared to some of its peers to the extent anticipated, or at all; (viii) the risks that AEye may be unable to maintain the lowest cost structure in the industry; (ix) the risks that AEye may not realize the greater efficiencies expected to the extent anticipated, or at all; (x) the risks that AEye may not be able to offer OEMs a superior product at a competitive price point to the extent anticipated, or at all; (xi) the risks that market conditions may create delays in the demand for commercial lidar products beyond AEye’s expectations; (xii) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (xiii) the risks that AEye’s products may not meet the diverse range of performance and functional requirements of target markets and customers; (xiv) the risks that AEye’s products may not function as anticipated by AEye, or by target markets and customers; (xv) the risks that AEye may not be in a position to adequately or timely address either the near or long-term opportunities that may or may not exist in the evolving autonomous transportation industry;(xvi) the risks that laws and regulations are adopted impacting the use of lidar that AEye is unable to comply with, in whole or in part; (xvii) the risks associated with changes in competitive and regulated industries in which AEye operates, variations in operating performance across competitors, and changes in laws and regulations affecting AEye’s business; (xviii) the risks that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xix) the risks of economic downturns and a changing regulatory landscape in the highly competitive and evolving industry in which AEye operates. These risks and uncertainties may be amplified by current or future global conflicts and the lingering effects of the COVID-19 pandemic, both of which continue to cause economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the periodic report that AEye has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye gives no assurance that AEye will achieve any of its expectations.
Agency Contact
Evan Niu, CFA
Financial Profiles, Inc.
[email protected]
310-622-8243
Company Contact
AEye, Inc. Investor Relations
[email protected]
925-400-4366
Source: AEye, Inc.
