Business
Aeva Reports Second Quarter 2023 Results
Strategic collaboration agreement with Top-10 OEM to develop perception software stack around Aeva 4D data First win in rail with Railergy to enable
About this update from Aeva Technologies, Inc.
[{"type":"text","content":"\nStrategic collaboration agreement with Top-10 OEM to develop perception software stack around Aeva 4D data\n\n\nFirst win in rail with Railergy to enable automated trains for a major European freight carrier\n\n\nIndustrial on track for 2024 with LiDAR-on-chip module validated for first Nikon product\n\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nAeva® (NYSE: AEVA), a leader in next-generation sensing and perception systems, today announced its second quarter 2023 results.\n\n\nKey Company Highlights\n\n\n\nDeepened integration with Top-10 OEM with a strategic collaboration agreement to use Aeva’s perception stack built around its velocity data to achieve the OEM’s use cases, and expansion of on-road deployment into 2024\n\n\n\nSelected by Railergy to replace conventional 3D LiDAR with Aeva 4D LiDAR to meet use case requirements for automated train operations for Europe’s largest freight carrier\n\n\n\nCompleted development of LiDAR-on-chip module for first Nikon product with all performance specifications validated by Nikon\n\n\n\nContinue to advance on opportunities for large scale deployment in automotive and industrial automation\n\n\n\n“Aeva continues to make in-roads towards commercialization, including in automotive with a Top-10 OEM, and we look forward to deepening our integration by leveraging Aeva’s perception stack to help the OEM achieve key automated driving use cases,” said Soroush Salehian, Co-Founder and CEO at Aeva. “This along with our entrance into rail is further recognition of the differentiated performance of Aeva's FMCW technology and the growing interest for our capabilities to safely enable next-generation automation. Our priority remains on progressing with our partners and converting additional ongoing opportunities to program wins.”\n\n\nSecond Quarter 2023 Financial Highlights\n\n\n\nCash, Cash Equivalents and Marketable Securities\n\n\nCash, cash equivalents and marketable securities of $261.2 million as of June 30, 2023\n\n\n\n\n\n\nRevenue\n\n\nRevenue of $0.7 million in Q2 2023, compared to revenue of $1.5 million in Q2 2022\n\n\n\n\n\n\nGAAP and Non-GAAP Operating Loss*\n\n\nGAAP operating loss of $38.2 million in Q2 2023, compared to GAAP operating loss of $35.7 million in Q2 2022\n\n\n\nNon-GAAP operating loss of $31.1 million in Q2 2023, compared to non-GAAP operating loss of $29.3 millio...