AEye reported Q3 2024 revenue of $104,000, with a GAAP net loss of $8.7 million or $1.01 per share. The company's cash burn was $5.6 million, beating guidance, while ending the quarter with $22.4 million in cash and marketable securities. Apollo, the company's flagship product, achieved a milestone by meeting NVIDIA DRIVE Hyperion specifications and demonstrating high-resolution object detection at 1 kilometer distance.The company made significant progress with partners, as Apollo samples were shipped to OEMs and ATI began demonstrations in China. AEye plans to establish an Apollo manufacturing line with LITEON in Q4 2024, while engaging in multiple global OEM quoting activities. The company's capital-light business model is positioned as a key market differentiator.Management secured new financial instruments to extend cash runway and support automotive production pipeline development. The company maintains a low debt position compared to peers and believes its efficient business model enables competitive pricing while maintaining product superiority.

AEye reported Q3 2024 revenue of $104,000, with a GAAP net loss of $8.7 million or $1.01 per share. The company's cash burn was $5.6 million, beating guidance, while ending the quarter with $22.4 million in cash and marketable securities. Apollo, the company's flagship product, achieved a milestone by meeting NVIDIA DRIVE Hyperion specifications and demonstrating high-resolution object detection at 1 kilometer distance.The company made significant progress with partners, as Apollo samples were shipped to OEMs and ATI began demonstrations in China. AEye plans to establish an Apollo manufacturing line with LITEON in Q4 2024, while engaging in multiple global OEM quoting activities. The company's capital-light business model is positioned as a key market differentiator.Management secured new financial instruments to extend cash runway and support automotive production pipeline development. The company maintains a low debt position compared to peers and believes its efficient business model enables competitive pricing while maintaining product superiority.