Business
Aeva Reports First Quarter 2023 Results
Progressing with Top-10 OEM: First vehicles built using Aeva 4D LiDAR, in discussion to deepen relationship around perception software development Working
About this update from Aeva Technologies, Inc.
[{"type":"text","content":"\nProgressing with Top-10 OEM: First vehicles built using Aeva 4D LiDAR, in discussion to deepen relationship around perception software development\n\n\nWorking with Fabrinet to expand capacity to support ongoing customer development and increasing opportunities\n\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nAeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced its first quarter 2023 results.\n\n\nKey Company Highlights\n\n\n\nStrong progress with Top-10 OEM, including enabling key safety use case previously unachievable with 3D ToF LiDAR and in discussion for perception software development\n\n\n\nContinued traction in automotive with increasing number of RFQs\n\n\n\nMultiple engagements to implement Aeva’s perception platform for precision distance measurement\n\n\n\nSuccessfully completed bring-up of new final assembly manufacturing line to support ongoing and additional engagements\n\n\n\nWorking with Fabrinet to increase capacity and further automate LiDAR-on-chip module manufacturing\n\n\n\n“We are progressing well on our engagement with a Top-10 OEM and are in discussion to deepen our relationship,” said Soroush Salehian, Co-Founder and CEO at Aeva. “This highlights the growing interest from industry leaders to leverage the unique capabilities and scalability of Aeva’s 4D LiDAR-on-chip technology to bring next-generation perception to market. Our focus in 2023 continues to be on ongoing development with key partners and securing additional wins toward production.”\n\n\nFirst Quarter 2023 Financial Highlights\n\n\n\nCash, Cash Equivalents and Marketable Securities\n\n\nCash, cash equivalents and marketable securities of $288.4 million as of March 31, 2023\n\n\n\n\n\n\nRevenue\n\n\nRevenue of $1.1 million in Q1 2023, compared to revenue of $1.1 million in Q1 2022\n\n\n\n\n\n\nGAAP and Non-GAAP Operating Loss*\n\n\nGAAP operating loss of $37.3 million in Q1 2023, compared to GAAP operating loss of $34.1 million in Q1 2022\n\n\n\nNon-GAAP operating loss of $31.3 million in Q1 2023, compared to non-GAAP operating loss of $28.3 million in Q1 2022\n\n\n\n\n\n\nGAAP and Non-GAAP Net Loss per Share*\n\n\nGAAP net loss per share of $0.16 in Q1 2023, compared to GAAP net loss per share of $0.15 in Q1 2022\n\n\n\nNon-GAAP net loss per share of $0.13 in Q1 2023, compared to non-GAAP net loss...