On May 14, 2024, AEye, Inc., a leader in adaptive lidar solutions, reported its financial results for the first quarter ending March 31, 2024. The company announced a GAAP net loss of $10.2 million, or $1.61 per share, and a non-GAAP net loss of $7.2 million, or $1.13 per share. Despite the losses, AEye highlighted its fourth consecutive quarter of reduced cash burn and a strong cash position of $28.9 million, which they believe extends their operational runway into 2025. The company also noted significant progress in its capital-light partnership model, including a strategic partnership aimed at entering the booming lidar market in China and a new Tier 1 partnership with LITEON. AEye's CEO, Matt Fisch, expressed excitement for the future, citing the Apollo product from their 4Sight Flex...Show More

On May 14, 2024, AEye, Inc., a leader in adaptive lidar solutions, reported its financial results for the first quarter ending March 31, 2024. The company announced a GAAP net loss of $10.2 million, or $1.61 per share, and a non-GAAP net loss of $7.2 million, or $1.13 per share. Despite the losses, AEye highlighted its fourth consecutive quarter of reduced cash burn and a strong cash position of $28.9 million, which they believe extends their operational runway into 2025. The company also noted significant progress in its capital-light partnership model, including a strategic partnership aimed at entering the booming lidar market in China and a new Tier 1 partnership with LITEON. AEye's CEO, Matt Fisch, expressed excitement for the future, citing the Apollo product from their 4Sight Flex reference design passing a key technical milestone and generating interest among automotive OEMs. The company's financial information has been adjusted to reflect a 1-for-30 reverse stock split effected in December 2023. AEye held a conference call on the same day to discuss the results, with a webcast available on their investor relations website.