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Apollo shines in major in-vehicle driving test with NVIDIA
Plan to establish Apollo manufacturing line with LITEON in 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.
Quarterly Business Highlights
Management Commentary
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.”
Third Quarter 2024 Financial Highlights
“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.
Conference Call and Webcast Details
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/.
LIDR: In passing, Bro, I got MARRIED (again) this past Sunday!!! (See film-clip, below, of a portion of the ceremony --- at San Diego's, "Church-of-Latter-Day-Atheists"!!)
"She's a veritable DOLL, ain't she??!!"
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LIDR: All joking aside, Homeboy, what a CLEVER & WITTY name this Firm has for itself --- i.e., "AEye"!!! (I'm-thinking-like, maybe a SPOOF of the ubiquitous "AI" acronym???)
LIDR: O.K., I copy that, Capt.!! (Some very ROUGH 'waters' at sea today, Sir!! But DAMN the 'torpedoes' --- full speed ahead!!)
LIDR 10Q due AUGUST5
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LIDR (Warrants): Good question!! I myself mistakenly guessed that I could score big off this Firm's Warrants, since I had seen them soar in the Post-M last Thursday to 360%; but they did not run any higher when the Markets opened Friday. But in ANSWER to your Warrants question generally, there simply is NO (predictable) ANSWER TO ANYTHING THAT TRANSPIRES ON WALL STREET!!! The price-moving "VARIABLES" behind any stock or firm are nearly infinite and --- as with ANY area of Human knowledge, inquiry, industry, commerce, or science --- the more the UNANTICIPATED, and otherwise potentially CONFOUNDING variables there are, well, the more UN-likely any attempts at PREDICTING good (or bad) outcomes become. (But then, you can always get one of those Market SCANNERS, or become a stock market CHARTEST --- if you get a sense of satisfaction out of a mere, shall we say, Wall Street PLACEBO EFFECT, that is!!!)
"Hold-on, Invest-in-America!! I'm workin' on the LIDR Warrants for MONDAY, right now!!"
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LIDR: Nope!! NOT on the LIDR-Warrants, Capt. Tim!! NOR on that disappointing @NVAX routine --- notwithstanding my stupid pumping about NVAX's glorious news with that French Big Pharma. But I did score some petty green behind the LIDR parent firm --- having gotten in LATE after the Open Friday, when LIDR was already up by circa 46%; but even from there, it continued to rocket anyway!! (ME & Orion's T-F-CD had been exchanging posts about the LIDR parent firm's questionable "news" about their new alleged partner/collaborator, that "LITEON" company.) Overall, a DEPRESSING day for me, last Friday --- barely having made it our alive!! Might as well been workin' at Denny's that day, flippin' BURGERS vs. gambling-chip "stocks" on Wall Street!!!
"Heck, whatever happened to those easy, one day, 10-bagger scores on Wall Street!!?? Before the OTC & SEC cleaned it all up!!?? DAMN-IT!! Heck, maybe we do need TRUMP back in Office!! He likes HOOKERS, & grabbin' chicks by the PUSSY!! Get that Al Capone-like spirit back on Wall Street, FOR GOD'S SAKE!!"
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