AEye Reports Third Quarter 2024 Results

Business Wire11-13

Apollo shines in major in-vehicle driving test with NVIDIA Plan to establish Apollo manufacturing line with LITEON in 2024 PLEASANTON, Calif., November 12, 2024--(BUSINESS WIRE)--AEye, Inc. (Nasdaq: ...

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(Nasdaq: ...</p>\n\n<a href=\"https://finance.yahoo.com/news/aeye-reports-third-quarter-2024-210500560.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AEye Reports Third Quarter 2024 Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAEye Reports Third Quarter 2024 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 05:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/aeye-reports-third-quarter-2024-210500560.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apollo shines in major in-vehicle driving test with NVIDIA\nPlan to establish Apollo manufacturing line with LITEON in 2024\nPLEASANTON, Calif., November 12, 2024--(BUSINESS WIRE)--AEye, Inc. (Nasdaq: ...</p>\n\n<a href=\"https://finance.yahoo.com/news/aeye-reports-third-quarter-2024-210500560.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LIDRW","symbol_name":"AEye, Inc. Warrant","start_time":0,"source_url":"https://finance.yahoo.com/news/aeye-reports-third-quarter-2024-210500560.html","article_id":"2483050815","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/4TU6.s_vRsq0cXOU_bkuSg--~B/aD00NTQ7dz0xNzkzO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/8d33609045a50fce8d9fc36236e78b3b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483050815","pubTimestamp":1731445500,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Apollo shines in major in-vehicle driving test with NVIDIA. Plan to establish Apollo manufacturing line with LITEON in 2024. PLEASANTON, Calif., November 12, 2024----AEye, Inc. , a global leader in adaptive, high performance lidar solutions, today announced its results for the third quarter ended September 30, 2024.Apollo met the NVIDIA DRIVE Hyperion specifications, paving way for platform integration. Apollo samples shipped to OEMs; sets new long-distance performance standard of 1 kilometer. Apollo manufacturing line planned with LITEON in 2024, quoting multiple OEMs. \"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.\". GAAP net loss was $(8.7) million, or $ per share, based on 8.6 million weigh","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LIDRW":"AEye, Inc. Warrant","LIDR":"AEye, Inc."},"translate_title":"AEye报告2024年第三季度业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LIDR":0.9,"LIDRW":0.9},"content_text":"Apollo shines in major in-vehicle driving test with NVIDIA\nPlan to establish Apollo manufacturing line with LITEON in 2024\nPLEASANTON, Calif., November 12, 2024--(BUSINESS WIRE)--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.\nQuarterly Business Highlights\n\nApollo met the NVIDIA DRIVE Hyperion specifications, paving way for platform integration\nApollo samples shipped to OEMs; sets new long-distance performance standard of 1 kilometer\nApollo manufacturing line planned with LITEON in 2024, quoting multiple OEMs\nNew financial instruments extend cash runway; pave way to automotive mass production\n\nManagement Commentary\nMatt 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.\n\"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.\n\"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.\n\"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.\"\nThird Quarter 2024 Financial Highlights\n\nQuarterly revenue of $104 thousand, primarily from sales of inventory to non-automotive customers, meeting consensus estimates\nCash burn of $5.6 million, beating guidance of $5.9 million\nGAAP net loss was $(8.7) million, or $(1.01) per share, based on 8.6 million weighted average common shares outstanding\nNon-GAAP net loss was $(6.0) million, or $(0.70) per share, based on 8.6 million weighted average common shares outstanding, beating consensus estimates\nCash, cash equivalents, and marketable securities were $22.4 million as of September 30, 2024\n\n\"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.\n\"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.\nIn 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.\nConference Call and Webcast Details\nAEye 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.\nThe webcast and accompanying slides will be accessible via the company’s website at https://investors.aeye.ai/.\nAccess is also available via:\nConference call: https://aeye.pub/48pgxWe\nWebcast: https://aeye.pub/4e8yny0\nAbout AEye\nAEye’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.\nNon-GAAP Financial Measures\nThe 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.\nThis press release includes non-GAAP financial measures, including:\n\nNon-GAAP net loss which is defined as GAAP net loss plus stock-based compensation, plus expenses related to registration statements and common stock purchase agreements, less change in fair value of convertible note and warrant liabilities, plus realized loss on instrument-specific credit risk, plus one-time termination benefits and other restructuring costs, plus non-routine write-down of inventory, plus impairment of right-of-use assets, less gain on termination of operating lease, net; and\nAdjusted EBITDA, defined as non-GAAP net loss plus depreciation and amortization expense, less interest income and other, less interest expense and other, plus provision for income tax expense.\n\nForward-Looking Statements\nCertain 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.\nReaders 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.\n\n\n\n \n\n\nAEYE, INC.Consolidated Balance Sheets(In thousands)(Unaudited)\n\n\n\nSeptember 30, 2024\n\nDecember 31, 2023\n\n\nASSETS\n\n\n\n\n\nCurrent Assets:\n\n\n\n\n\nCash and cash equivalents\n$\n5,851\n\n\n$\n16,932\n\n\n\nMarketable securities\n\n16,584\n\n\n\n19,591\n\n\n\nAccounts receivable, net\n\n76\n\n\n\n131\n\n\n\nInventories, net\n\n258\n\n\n\n583\n\n\n\nPrepaid and other current assets\n\n1,482\n\n\n\n2,517\n\n\n\nTotal current assets\n\n24,251\n\n\n\n39,754\n\n\n\nRight-of-use assets\n\n703\n\n\n\n11,226\n\n\n\nProperty and equipment, net\n\n630\n\n\n\n281\n\n\n\nRestricted cash\n\n—\n\n\n\n2,150\n\n\n\nOther noncurrent assets\n\n784\n\n\n\n906\n\n\n\nTotal assets\n$\n26,368\n\n\n$\n54,317\n\n\n\n\n\n\n \n\n\nLIABILITIES AND STOCKHOLDERS’ EQUITY\n\n\n\n\n\nCurrent Liabilities:\n\n\n\n\n\nAccounts payable\n$\n3,717\n\n\n$\n3,442\n\n\n\nAccrued expenses and other current liabilities\n\n6,960\n\n\n\n6,585\n\n\n\nContract liabilities\n\n35\n\n\n\n—\n\n\n\nTotal current liabilities\n\n10,712\n\n\n\n10,027\n\n\n\nOperating lease liabilities, noncurrent\n\n537\n\n\n\n14,858\n\n\n\nConvertible note\n\n146\n\n\n\n—\n\n\n\nOther noncurrent liabilities\n\n67\n\n\n\n409\n\n\n\nTotal liabilities\n\n11,462\n\n\n\n25,294\n\n\n\nStockholders’ Equity:\n\n\n\n\n\nPreferred stock\n\n—\n\n\n\n—\n\n\n\nCommon stock\n\n1\n\n\n\n1\n\n\n\nAdditional paid-in capital\n\n379,425\n\n\n\n366,647\n\n\n\nAccumulated other comprehensive income\n\n27\n\n\n\n10\n\n\n\nAccumulated deficit\n\n(364,547\n)\n\n\n(337,635\n)\n\n\nTotal stockholders’ equity\n\n14,906\n\n\n\n29,023\n\n\n\nTotal liabilities and stockholders’ equity\n$\n26,368\n\n\n$\n54,317\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n \n\n\nAEYE, INC.Consolidated Statements of Operations(In thousands, except share amounts and per share data)(Unaudited)\n\n\n\nThree months ended September 30,\n\nNine months ended September 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nRevenue:\n\n\n\n\n\n\n\n\n\nPrototype sales\n$\n65\n\n\n$\n56\n\n\n$\n91\n\n\n$\n426\n\n\n\nDevelopment contracts\n\n39\n\n\n\n132\n\n\n\n65\n\n\n\n969\n\n\n\nTotal revenue\n\n104\n\n\n\n188\n\n\n\n156\n\n\n\n1,395\n\n\n\nCost of revenue\n\n306\n\n\n\n4,479\n\n\n\n729\n\n\n\n8,651\n\n\n\nGross loss\n\n(202\n)\n\n\n(4,291\n)\n\n\n(573\n)\n\n\n(7,256\n)\n\n\nOperating expenses:\n\n\n\n\n\n\n\n\n\nResearch and development\n\n3,767\n\n\n\n5,654\n\n\n\n12,137\n\n\n\n20,993\n\n\n\nSales and marketing\n\n74\n\n\n\n1,910\n\n\n\n482\n\n\n\n10,782\n\n\n\nGeneral and administrative\n\n3,803\n\n\n\n5,380\n\n\n\n13,641\n\n\n\n20,279\n\n\n\nTotal operating expenses\n\n7,644\n\n\n\n12,944\n\n\n\n26,260\n\n\n\n52,054\n\n\n\nLoss from operations\n\n(7,846\n)\n\n\n(17,235\n)\n\n\n(26,833\n)\n\n\n(59,310\n)\n\n\nOther income (expense):\n\n\n\n\n\n\n\n\n\nChange in fair value of convertible note and warrant liabilities\n\n9\n\n\n\n12\n\n\n\n(4\n)\n\n\n(914\n)\n\n\nInterest income and other\n\n233\n\n\n\n354\n\n\n\n656\n\n\n\n932\n\n\n\nInterest expense and other\n\n(1,102\n)\n\n\n(174\n)\n\n\n(729\n)\n\n\n(9\n)\n\n\nTotal other income (expense), net\n\n(860\n)\n\n\n192\n\n\n\n(77\n)\n\n\n9\n\n\n\nLoss before income tax expense\n\n(8,706\n)\n\n\n(17,043\n)\n\n\n(26,910\n)\n\n\n(59,301\n)\n\n\nProvision for income tax expense\n\n—\n\n\n\n5\n\n\n\n2\n\n\n\n43\n\n\n\nNet loss\n$\n(8,706\n)\n\n$\n(17,048\n)\n\n$\n(26,912\n)\n\n$\n(59,344\n)\n\n\n\n\n\n\n\n\n\n \n\n\nPer Share Data\n\n\n\n\n\n\n\n\n\nNet loss per common share (basic and diluted)\n$\n(1.01\n)\n\n$\n(2.78\n)\n\n$\n(3.90\n)\n\n$\n(10.34\n)\n\n\n\n\n\n\n\n\n\n \n\n\nWeighted average common shares outstanding (basic and diluted)\n\n8,629,683\n\n\n\n6,137,251\n\n\n\n6,892,910\n\n\n\n5,739,425\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\nAEYE, INC.Consolidated Statements of Cash Flows(In thousands)(Unaudited)\n\n\n\nNine months endedSeptember 30,\n\n\n\n\n2024\n\n\n\n2023\n\n\n\nCash flows from operating activities:\n\n\n\n\n\nNet loss\n$\n(26,912\n)\n\n$\n(59,344\n)\n\n\nAdjustments to reconcile net loss to net cash used in operating activities:\n\n\n\n\n\nDepreciation and amortization\n\n80\n\n\n\n998\n\n\n\nLoss (gain) on sale of property and equipment, net\n\n(12\n)\n\n\n53\n\n\n\nNoncash lease expense relating to operating lease right-of-use assets\n\n905\n\n\n\n1,058\n\n\n\nGain on termination of operating lease, net\n\n(680\n)\n\n\n—\n\n\n\nCommon stock purchase agreement costs\n\n1,136\n\n\n\n—\n\n\n\nImpairment of right-of-use assets\n\n—\n\n\n\n47\n\n\n\nInventory write-downs, net of scrapped inventory\n\n167\n\n\n\n3,666\n\n\n\nChange in fair value of convertible note and warrant liabilities\n\n4\n\n\n\n914\n\n\n\nRealized loss on instrument-specific credit risk\n\n—\n\n\n\n46\n\n\n\nStock-based compensation\n\n7,002\n\n\n\n14,707\n\n\n\nAmortization of premiums and accretion of discounts on marketable securities, net of change in accrued interest\n\n(491\n)\n\n\n33\n\n\n\nExpected credit losses, net of write-offs\n\n35\n\n\n\n—\n\n\n\nChanges in operating assets and liabilities:\n\n\n\n\n\nAccounts receivable, net\n\n20\n\n\n\n379\n\n\n\nInventories, current and noncurrent, net\n\n157\n\n\n\n(2,681\n)\n\n\nPrepaid and other current assets\n\n1,035\n\n\n\n1,672\n\n\n\nOther noncurrent assets\n\n123\n\n\n\n133\n\n\n\nAccounts payable\n\n275\n\n\n\n1,494\n\n\n\nAccrued expenses and other current liabilities\n\n(3,411\n)\n\n\n(2,571\n)\n\n\nOperating lease liabilities\n\n(936\n)\n\n\n(1,143\n)\n\n\nContract liabilities\n\n35\n\n\n\n(969\n)\n\n\nOther noncurrent liabilities\n\n(346\n)\n\n\n—\n\n\n\nNet cash used in operating activities\n\n(21,814\n)\n\n\n(41,508\n)\n\n\nCash flows from investing activities:\n\n\n\n\n\nPurchases of property and equipment\n\n(420\n)\n\n\n(1,421\n)\n\n\nProceeds from sale of property and equipment\n\n45\n\n\n\n243\n\n\n\nPurchases of marketable securities\n\n(24,241\n)\n\n\n(8,736\n)\n\n\nProceeds from redemptions and maturities of marketable securities\n\n27,756\n\n\n\n76,350\n\n\n\nNet cash provided by investing activities\n\n3,140\n\n\n\n66,436\n\n\n\nCash flows from financing activities:\n\n\n\n\n\nProceeds from exercise of stock options\n\n134\n\n\n\n450\n\n\n\nProceeds from the issuance of convertible note\n\n146\n\n\n\n—\n\n\n\nPayments for convertible note redemptions\n\n—\n\n\n\n(6,235\n)\n\n\nTaxes paid related to the net share settlement of equity awards\n\n(113\n)\n\n\n(1,312\n)\n\n\nProceeds from issuance of common stock under the Common Stock Purchase Agreements\n\n5,863\n\n\n\n136\n\n\n\nStock issuance costs related to Common Stock Purchase Agreements\n\n(613\n)\n\n\n—\n\n\n\nProceeds from issuance of common stock through the Employee Stock Purchase Plan\n\n26\n\n\n\n118\n\n\n\nNet cash provided by (used in) financing activities\n\n5,443\n\n\n\n(6,843\n)\n\n\nNet (decrease) increase in cash, cash equivalents and restricted cash\n\n(13,231\n)\n\n\n18,085\n\n\n\nCash, cash equivalents and restricted cash at beginning of period\n\n19,082\n\n\n\n21,214\n\n\n\nCash, cash equivalents and restricted cash at end of period\n$\n5,851\n\n\n$\n39,299\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\nAEYE, INC.Reconciliation of GAAP to Non-GAAP Financial Measures(In thousands, except share amounts and per share data)(Unaudited)\n\n\n\nThree months ended September 30,\n\nNine months ended September 30\n\n\n\n\n2024\n\n\n\n2023\n\n\n\n2024\n\n\n\n2023\n\n\n\nGAAP net loss\n$\n(8,706\n)\n\n$\n(17,048\n)\n\n$\n(26,912\n)\n\n$\n(59,344\n)\n\n\nNon-GAAP adjustments:\n\n\n\n\n\n\n\n\n\nStock-based compensation\n\n2,248\n\n\n\n4,084\n\n\n\n7,002\n\n\n\n14,707\n\n\n\nExpenses related to registration statements and common stock purchase agreements\n\n1,136\n\n\n\n233\n\n\n\n1,136\n\n\n\n233\n\n\n\nChange in fair value of convertible note and warrant liabilities\n\n(9\n)\n\n\n(12\n)\n\n\n4\n\n\n\n914\n\n\n\nRealized loss on instrument-specific credit risk\n\n—\n\n\n\n46\n\n\n\n—\n\n\n\n46\n\n\n\nOne-time termination benefits and other restructuring costs\n\n—\n\n\n\n172\n\n\n\n—\n\n\n\n1,470\n\n\n\nNon-routine write-down of inventory\n\n—\n\n\n\n3,007\n\n\n\n—\n\n\n\n3,007\n\n\n\nImpairment of right-of-use assets\n\n—\n\n\n\n—\n\n\n\n—\n\n\n\n47\n\n\n\nGain on termination of operating lease, net\n\n(680\n)\n\n\n—\n\n\n\n(680\n)\n\n\n—\n\n\n\nNon-GAAP net loss\n$\n(6,011\n)\n\n$\n(9,518\n)\n\n$\n(19,450\n)\n\n$\n(38,920\n)\n\n\nDepreciation and amortization expense\n\n24\n\n\n\n332\n\n\n\n80\n\n\n\n998\n\n\n\nInterest income and other\n\n(233\n)\n\n\n(354\n)\n\n\n(656\n)\n\n\n(932\n)\n\n\nInterest expense and other\n\n(34\n)\n\n\n128\n\n\n\n(407\n)\n\n\n(84\n)\n\n\nProvision for income tax expense\n\n—\n\n\n\n5\n\n\n\n2\n\n\n\n43\n\n\n\nAdjusted EBITDA\n$\n(6,254\n)\n\n$\n(9,407\n)\n\n$\n(20,431\n)\n\n$\n(38,895\n)\n\n\n\n\n\n\n\n\n\n \n\n\nGAAP net loss per share attributable to common stockholders:\n\n\n\n\n\n\n\n\n\nBasic and diluted\n$\n(1.01\n)\n\n$\n(2.78\n)\n\n$\n(3.90\n)\n\n$\n(10.34\n)\n\n\nNon-GAAP net loss per share attributable to common stockholders:\n\n\n\n\n\n\n\n\n\nBasic and diluted\n$\n(0.70\n)\n\n$\n(1.55\n)\n\n$\n(2.82\n)\n\n$\n(6.78\n)\n\n\nShares used in computing GAAP net loss per share attributable to common stockholders:\n\n\n\n\n\n\n\n\n\nBasic and diluted\n\n8,629,683\n\n\n\n6,137,251\n\n\n\n6,892,910\n\n\n\n5,739,425\n\n\n\nShares used in computing Non-GAAP net loss per share attributable to common stockholders:\n\n\n\n\n\n\n\n\n\nBasic and diluted\n\n8,629,683\n\n\n\n6,137,251\n\n\n\n6,892,910\n\n\n\n5,739,425\n\n\n\n\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241112782801/en/\nContacts\nInvestor Relations Contacts:\nAgency Contact Evan Niu, CFAFinancial Profiles, Inc.eniu@finprofiles.com 310-622-8243\nCompany Contact AEye, Inc. Investor Relationsinfo@aeye.ai 925-400-4366","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483050815"}