AEye, Inc. (LIDR) saw a downfall of 12.58% in the aftermarket because the global leader in adaptive, high-performance LiDAR solutions announced the third quarter of 2021 results. However, the last trading session closed at $6.52 with an incline of 5.5%.
Third Quarter 2021 Results – What’s up?
LIDR released third-quarter 2021 results on 11th November 2021. The company reported $0.1 million in sales and a GAAP net loss of $17.4 million. For the quarter, adjusted EBITDA came in at $12.5 million. Moreover, the company’s cash and cash equivalents, as well as marketable securities, totaled $182.4 million at the end of the quarter, and it was debt-free. Not only this but, TuSimple and LIDR have announced a collaboration to use AEye’s long-range, high-performance LiDAR for autonomous trucking applications. Also, the AEye adaptive LiDAR has been integrated with the Nvidia DRIVE Platform for autonomous vehicles. Lastly, LIDR and Seoul Robotics collaborated to combine AEye’s adaptive LiDAR with Seoul Robotics’ SENSR perception software, resulting in a full solution for long-range object detection, categorization, and perception.
Chief Product Officer
On 11 November 2021, LIDR reported that Dr. T.R. Ramachandran has been named as the company’s new chief product officer. Ramachandran will report to the CEO Blair LaCorte and has more than two decades of expertise providing sophisticated, market-leading solutions to huge global clients. His hiring is way more important as LIDR continues to develop worldwide and build out its executive team in order to fulfill increasing market demand for their adaptive LiDAR.
All About Dr. T.R. Ramachandran
Ramachandran has more than 23 years of experience in the technology business, including worldwide product launches and related marketing operations. Prior to joining LIDR, he worked for LiDAR firms Cepton and Velodyne, where he was in charge of marketing and product management.
His extensive knowledge of the LiDAR business includes autonomous vehicles (AV), advanced driver assistance systems (ADAS), intelligent transportation systems (ITS), and security. He formerly worked as a Vice President at LSI Corp., where he assisted in the company’s purchase by Broadcom (Avago) in 2014. Lastly, he graduated from the University of Southern California with a Ph.D. in Materials Science, specializing in InGaAs optoelectronics, scanning probe-based imaging, and nanotechnology.
CES 2022 Innovation Award Winner – What’s Next?
On 11th November 2021, LIDR announced that its 4SightTM M, a high-performance, adaptive LiDAR sensor has been selected as a CES 2022 Innovation Award winner. The renowned CES Innovation Awards are presented in advance of CES 2022 to recognize exceptional design and engineering in consumer technology goods.
For this year’s prizes, an exclusive team of industry expert judges, comprising representatives of the media, designers, engineers, and others, assessed over 1,800 entries. Innovation, engineering and utility, aesthetics, and design were all factors in their judgments.
4SightM – What is it?
4SightM is a solid-state LiDAR that adjusts to application-specific needs through software, based on LIDR’s award-winning iDARTM technology. Its industry-leading performance (range of 1cm to 1,000 meters), integrated intelligence, advanced vision capabilities (10-20x more accurate than camera-only systems), and unmatched consistency facilitate it to satisfy the broad achievement and technical specifications of independent and automatized application areas in markets such as movement, trucking, transportation, construction, rail, intelligent traffic systems, and aerospace and defense.