AEye, Inc. reported its financial results for the second quarter of 2025, revealing a revenue of $22,000, a decrease of 31% from $32,000 in the same period last year. For the first half of 2025, total revenue reached $86,000, marking a 65% increase compared to $52,000 in the first half of 2024. Despite the revenue growth over six months, the company experienced a net loss of $9,270, or $0.48 per share, for the second quarter, which is a 16% increase from the net loss of $7,987 in the prior year. The accumulated deficit as of June 30, 2025, stood at $390,381, reflecting ongoing challenges in achieving profitability.

The company’s operating expenses for the second quarter totaled $8,619, a slight increase from $8,128 in the same quarter of 2024. Research and development expenses decreased by 4% to $3,670, while sales and marketing expenses surged by 797% to $601, driven by increased efforts to pursue non-automotive opportunities. General and administrative expenses rose by 3% to $4,348, primarily due to higher accounting and consulting fees. The overall gross loss for the second quarter was $86, a significant improvement from a gross loss of $128 in the same quarter last year.

In terms of strategic developments, AEye has made significant strides in its partnerships and product offerings. The company launched its new product, Apollo, in 2024, which has garnered interest from non-automotive customers. AEye has also engaged LITEON as a Tier 1 automotive supplier, successfully producing the first Apollo units, which is expected to enhance its market presence. Additionally, AEye announced the launch of OPTISTM, a physical AI solution aimed at modernizing legacy infrastructure, which is anticipated to open new market opportunities.

Operationally, AEye's cash, cash equivalents, and marketable securities totaled $19,210 as of June 30, 2025. The company raised $68,844 in gross proceeds through common stock purchase agreements and the exercise of warrants after the quarter-end, which is expected to provide sufficient liquidity for at least the next 12 months. The company continues to face challenges in securing design wins with automotive OEMs, which are critical for future revenue growth. AEye's management remains focused on capitalizing on market opportunities while navigating the complexities of the automotive and non-automotive sectors.

Looking ahead, AEye anticipates continued investment in research and development to maintain its competitive edge in lidar technology. The company expects to incur additional losses as it works towards commercialization and aims to secure partnerships that will facilitate growth. The management's outlook emphasizes the importance of strategic partnerships and product innovation in driving future performance, while acknowledging the inherent risks associated with the evolving market landscape.

About AEye, Inc.

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