AEye Inc. (LIDR) shares plunged 12.58% in after-hours on Thursday, November 11, 2021, and closed the daily trading at $5.70. However, in the regular trading session, LIDR’s stock gained 5.50%. LIDR shares have moved up 32.25% in the past week. Over the past three months, the stock has lost 26.33%, while over the past six months, it has declined 34.67%. The company has a current market of $1.08 billion and its outstanding shares stood at 29.25 million.
Let’s have a look at its latest news and developments
LIDR latest financial results
On November 11, 2021, AEye, Inc. (LIDR), released its third-quarter 2021 financial results.
Q3 2021 financial highlights
- LIDR reported revenue of $0.1 million for Q3 2021 compared to $1.14 million for Q3 2020.
- The cost of revenue was $0.5 million in Q3 2021 compared to $0.32 million in Q3 2020.
- Total operating expenses were $16.54 million compared to $5.6 million in Q3 2020.
- It suffered a GAAP net loss of $17.4 million, or $0.15 per share in Q3 2021 compared to a net loss of $3.8 million or $0.04 per share in Q3 2020.
- Adjusted EBITDA was $12.5 million for the third quarter of 2021 compared to $4.3 million in Q3 2020.
- As of September 30, 2021, the company had $182.4 million in cash and cash equivalents, and marketable securities and is debt-free.
LIDR new appointment
On November 11, 2021, AEye, Inc. (LIDR), appointed Dr T.R. Ramachandran as chief product officer. Ramachandran has more than two decades of experience delivering complex, market-leading solutions to large global customers. He will report to AEye CEO Blair LaCorte.
LIDR won CES 2022 Innovation Award
On November 11, 2021, AEye (LIDR) high-performance, adaptive LiDAR sensor, the 4Sight™ M, won a CES® 2022 Innovation award. The prestigious CES Innovation Awards honour outstanding design and engineering in consumer technology products and are given in advance of CES 2022.
LIDR and Seoul Robotics technology integration
On October 07, 2021, AEye, Inc. (LIDR), and Seoul Robotics announced the integration of AEye’s 4Sight M™ LiDAR sensor and Intelligent Detection and Ranging (iDAR™) software platform with Seoul Robotics’ SENSR™3D perception software. The integration will deliver a complete solution for long-range object detection, classification, and perception for Intelligent Traffic Systems (ITS) by providing best-in-class 3D perception for vehicles, cyclists, and pedestrians at distances beyond 300 meters.
Conclusion
The recent unimpressive Q3 results were the reason behind its loss in the after-market session on Thursday. let’s see how it perform on the last trading day of the week?
