Business Developments - Cepton has received a significant ADAS lidar series production award from General Motors, initially covering four vehicle models and later expanded to nine models, with production expected to start at the end of 2023[12][22]. - The company is engaged with all of the top 10 global automotive OEMs, indicating strong market interest and potential for future series production awards[23][29]. - Cepton's lidar solutions are positioned for mass-market adoption, focusing on high performance, reliability, and competitive pricing to meet automotive industry standards[10][11]. Financial Performance - Total revenue for the three months ended June 30, 2023, was $2.8 million, reflecting a $228,000 increase, or 9%, from $2.6 million in the same period of 2022[49]. - Lidar sensor and prototype revenue increased by $1.3 million, or 92%, to $2.8 million for the three months ended June 30, 2023, compared to $1.4 million for the same period in 2022[51]. - Gross profit for the three months ended June 30, 2023, was $434,000, a significant improvement of $957,000 compared to a loss of $523,000 in the same period of 2022[49]. - Net loss for the three months ended June 30, 2023, was $14.2 million, a decrease of $15.0 million compared to a net income of $843,000 in the same period of 2022[49]. - The company reported a net loss of $28.9 million for the six months ended June 30, 2023, compared to a net income of $42.0 million for the same period in 2022[86][87]. - Cash used in operating activities was $21.2 million for the six months ended June 30, 2023, an improvement from $32.3 million used in the same period in 2022[85][86]. Expenses and Costs - Total operating expenses for the three months ended June 30, 2023, were $15.6 million, a slight decrease of $25,000 compared to $15.6 million in the same period of 2022[49]. - Research and development expenses increased by $0.5 million, or 3%, to $16.6 million for the six months ended June 30, 2023, from $16.1 million for the same period in 2022[57]. - Selling, general, and administrative expenses decreased by $2.3 million, or 15%, to $12.9 million for the six months ended June 30, 2023, from $15.2 million for the same period in 2022[65]. - Lidar sensor and prototype cost of revenue decreased by $0.2 million, or 7%, to $2.3 million for the three months ended June 30, 2023, from $2.5 million for the same period in 2022[54]. - Development revenue decreased by $0.9 million, or 78%, to $0.3 million for the six months ended June 30, 2023, from $1.2 million for the same period in 2022[53]. Cash Flow and Financing - The company had cash, cash equivalents, and short-term investments totaling $69.6 million as of June 30, 2023, which is expected to meet liquidity needs for at least the next twelve months[76]. - Financing activities provided $54.6 million of cash during the six months ended June 30, 2023, primarily from the issuance of Preferred Stock to Koito[90]. - The issuance of 100,000 shares of Series A Convertible Preferred Stock to Koito raised $100.0 million, with conversion rights starting January 19, 2024[79]. - Interest income turned into a net interest income of $1.2 million for the six months ended June 30, 2023, compared to a net interest expense of $1.3 million for the same period in 2022[73]. - Investing activities used $33.8 million of cash during the six months ended June 30, 2023, primarily for short-term investments[88]. Market Conditions and Future Outlook - Supply chain shortages have led to increased lead times for products, potentially causing mismatches between supply and demand[27]. - The global economic environment remains volatile, impacting consumer confidence and economic growth, which could affect Cepton's business operations[18]. - The company expects to continue investing in research and development, which may lead to further operating losses in the future[80]. - Gross margins are expected to initially decrease as series production begins but are projected to improve as production volumes increase and material costs decrease[31][38]. - The company aims to drive down product costs to facilitate mass-market adoption of lidar in automotive applications[26].

Financial Data and Key Metrics Changes - Total revenue for Q2 2023 was $2.8 million, representing a 9% increase year-over-year and an 88% increase compared to the previous quarter, marking a new record for the company [7][40] - The company achieved a record gross margin of 15.6% on a GAAP basis, primarily driven by a favorable revenue mix and fixed cost leverage [46][64] Business Line Data and Key Metrics Changes - The company reported a significant increase in shipments to both automotive and smart infrastructure customers, with automotive shipments expected to double each sequential quarter for the remainder of the year [58][61] - The revenue mix was approximately two-thirds from automotive and one-third from smart infrastructure [74] Market Data and Key Metrics Changes - The U.S. market remains the largest for Level 2 plus and Level 3 ADAS features, with increasing interest from major automotive OEMs in integrating LiDAR technology [61][62] - The company is in final discussions for what is believed to be the largest automotive OEM series production award this year [5][24] Company Strategy and Development Direction - The company is focused on scaling production capabilities and enhancing manufacturing efficiency to meet increasing demand from automotive OEMs [58][90] - There is a strong emphasis on developing automotive perception software to complement LiDAR technology, positioning the company favorably in the market [42][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting production milestones and highlighted the importance of partnerships with OEMs like General Motors and Koito [3][19] - The company anticipates a rebound in gross margins as unit volumes grow and economies of scale are achieved [21][23] Other Important Information - The second quarter GAAP net loss was $14.2 million, with available liquidity of approximately $168 million as of June 30, 2023 [64] - The company has received its first production order for LiDAR installations across multiple airports in the U.S., indicating expansion into new markets [45][58] Q&A Session Summary Question: What are the expectations for gross margin dynamics as automotive volumes ramp up? - Management indicated that gross margins are expected to scale back initially but should rebound as production volumes increase, with a target of mid-40s gross margin at maturity [9][23] Question: How many outstanding decisions are expected to be made this year, and what is the company's position? - The company is in final rounds with multiple OEMs and believes it holds a leading position due to its experience and partnerships [10][24] Question: Can you provide insights on the potential for expanding the smart tolling contract? - Management noted that there are opportunities for expanded scope within the smart tolling contract, with significant potential for growth in the coming years [50][80] Question: How does the company view the integration challenges faced by General Motors? - Management highlighted that General Motors handles sensor fusion and perception software in-house, which allows for better control and fewer integration issues compared to competitors [72][81]

《《EPTON Q2'23 August 7, 2023 2 This presentation of Cepton, Inc. ("Cepton" or the "Company") includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this presentation are forward-looking statements. The statements included in this presentation that refer to projections, forecasts or other characterizations of future events or c ...

Cepton, Inc. (NASDAQ:CPTN) Q1 2023 Results Conference Call May 9, 2023 5:30 PM ET Company Participants Hull Xu - CFO Jun Pei - Co-Founder and CEO Mitch Hourtienne - SVP, Business Development Conference Call Participants Richard Shannon - Craig-Hallum Gus Richard - Northland Matthew Galinko - Maxim Group Operator Good day, and welcome to Ceptons' First Quarter 2013 Earnings Call and Business Update. At this time, all lines in a listen-only mode. Following the presentation, we will conduct a question-and-answ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Cepton, Inc. (Exact name of registrant as specified in its charter) | Delaware | 001-39959 | 27-2447291 | | --- | --- | --- | | (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K __________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Cepton, Inc. (Exact name of registrant as specified in its charter) | Delaware | 001-39959 | 27-2447291 | | --- | --- | --- | ...

Cepton, Inc. (NASDAQ:CPTN) Q4 2022 Results Conference Call March 14, 2023 5:30 PM ET Company Participants Hull Xu - CFO Jun Pei - Co-Founder and CEO Mitch Hourtienne - SVP, Business Development Conference Call Participants Tom Narayan - RBC Samik Chatterjee - JP Morgan Richard Shannon - Craig Hallum Matthew Galinko - Maxim Richard Shannon - Craig Hallum Gus Richard - Northland Operator Good day everyone and welcome to the Q4 2022 Cepton, Inc. Business Update and Earnings Conference Call. All participants wi ...

Cepton, Inc. (NASDAQ:CPTN) Q3 2022 Earnings Conference Call November 8, 2022 5:30 PM ET Company Participants Hull Xu - Chief Financial Officer Jun Pei - Co-Founder and Chief Executive Officer Mitch Hourtienne - Senior Vice President, Business Development Conference Call Participants Joe Cardoso - J.P. Morgan Chase Joseph Spak - RBC Capital Markets Gus Richard - Northland Securities Matthew Galinko - Maxim Group Richard Shannon - Craig Hallum Capital Group Operator Welcome to the Cepton Incorporated Q3 2022 ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-----------------------|------------------|-------|-------|-------|-------|-------|-------| | | | | Q3'22 Business Update | November 8, 2022 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | © Cepton, Inc. All rights reserved. 22 Disclaimer and Cautionary Note Forward-Looking Statements This presentation of Cepton, Inc. ("Cepton" or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Cepton, Inc. (Exact name of registrant as specified in its charter) | --- | --- | --- | |-----------------------------------------|-------------------- ...