Financial Data and Key Metrics Changes - Revenue in Q1 2025 was $3.4 million, marking a record product revenue for the quarter and reflecting continued growth in commercial traction from automotive and industrial customers [22] - Non-GAAP operating loss for Q1 was $25.9 million, which is 19% lower year over year, consistent with the plan to reduce non-GAAP operating expenses by 10% to 20% for the full year [22] - Gross cash use was $31.3 million in the quarter, with operating cash use of $30.8 million and capital expenditures of $0.5 million [22] - Total available liquidity at the end of Q1 was $206 million, including $81 million in cash and cash equivalents and $125 million in undrawn facilities [22] Business Line Data and Key Metrics Changes - The company is seeing strong commercial traction with the EVE ONE line of high precision sensors, with over 1,000 sensors booked and plans to ship later this year [8][12] - The EVE ONE sensors are designed for high volume and inline industrial automation applications, representing a breakthrough in the $4 billion laser displacement sensor market [6][11] - Initial orders for EVE ONE sensors have already started shipping, with significant interest from leading industrial automation companies [12] Market Data and Key Metrics Changes - Aeva has entered the Intelligent Transportation System (ITS) market, securing a partnership with Sensus GATSO as its exclusive LiDAR supplier for mobile speed detection products in Australia [8][19] - The overall addressable market for laser displacement sensors is projected to grow significantly, with annual volumes exceeding 2 million sensors [13] Company Strategy and Development Direction - Aeva's mission is to build a core FMCW technology platform to expand applications beyond automotive, with significant progress in industrial automation and ITS [6][10] - Aeva announced a strategic collaboration with a global Fortune 500 technology subsidiary, which plans to invest up to $50 million to expand Aeva's end markets and deliver advanced perception sensing products [9][16] - The company aims to leverage its strategic partner's manufacturing expertise to accelerate product development and market entry [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to accelerate the adoption of its technology platform and enter new markets, citing strong commercial momentum [25] - The company anticipates at least 80% to 100% revenue growth for the full year compared to 2024, driven by increasing commercial traction across automotive and industrial markets [24][51] Other Important Information - Aeva plans to host an AIVA Day on July 31 in New York City to provide deeper insights into its technology and commercial traction [26] - The company is ramping up manufacturing capacity to meet growing demand for its sensors, targeting an installation capacity of 100,000 units per year [41][60] Q&A Session Summary Question: Can you talk about incremental target markets with the new partner? - Management highlighted the partnership's potential to expand into consumer market applications and accelerate industrial applications, leveraging the partner's scale and experience [30] Question: How is the relationship with SICK evolving? - Management noted a long-standing partnership with SICK, which holds about 15% market share, and expressed confidence in transitioning a significant portion of their portfolio to FMCW technology [34] Question: How long does it take to ramp new customers in the laser displacement sensor market? - Management indicated that while initial engagements take time, subsequent customer onboarding is expected to be much quicker, potentially within months [40] Question: Can you discuss momentum with other passenger OEMs? - Management confirmed ongoing engagements with multiple top passenger OEMs and expressed optimism about transitioning from development to production phases [48] Question: What led to the increase in revenue guidance? - Management attributed the increased guidance to strong momentum in both industrial and automotive markets, with record product revenue in Q1 [51] Question: What is the expected timeline for finishing the manufacturing capacity ramp? - Management confirmed that the goal is to install manufacturing capacity of 100,000 units within the current year [60] Question: Can you recap the remaining milestones for the global top 10 passenger OEM? - Management outlined that the next steps involve integration activities to ensure the sensor design fits across multiple vehicle models, with confidence in transitioning to production [66]

Operating Plan, Go-Forward Strategy & Q1'25 Business Update May 14, 2025 Disclaimer & Cautionary Note Forward-looking statements This presentation of Luminar Technologies, Inc. ("Luminar" or the "company") includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private securities litigation reform act of 1995. Forward-looking statements may be identified by the use of words such as "future," "growth," "opportunity," "will," "well-positioned," "forecast," "intend, ...

Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenues of $600,000, primarily driven by sales in the industrial verticals [23] - R&D and SG&A expenses for Q1 2025 were $14.1 million, including $1.9 million in non-cash stock-based compensation and $1.4 million in non-cash depreciation and amortization, resulting in a reduction of 45% year-over-year [24][25] - The company finished the quarter with $69 million in cash and cash equivalents, with additional availability under various financing facilities [26] Business Line Data and Key Metrics Changes - The company is engaged in seven RFQs for automotive programs, but progress has been slow due to OEMs focusing on supply chain issues and global trade rebalancing [7][19] - In the industrial segment, the company has made progress with its Movia sensor integrated with onboard perception software, expecting commercial wins from ongoing evaluations [12][20] - The defense vertical is being expanded with a newly established defense advisory board to explore opportunities with the Department of Defense [14][22] Market Data and Key Metrics Changes - The automotive industry is experiencing delays in advanced ADAS rollout, with LiDAR integration at low volumes [7][19] - The industrial market shows momentum in AGV and AMR sectors, with companies embracing autonomy and AI [20] - The defense market presents multiple avenues for technology application, including drones and unmanned vehicles, which differ significantly from automotive applications [104] Company Strategy and Development Direction - The company aims to focus on custom development opportunities with OEMs in the automotive sector, while also expanding its presence in industrial and defense markets [11][22] - The strategy includes leveraging existing technology for partnerships in the defense sector, emphasizing rapid innovation through public-private partnerships [22] - The company plans to host an Investor Day to showcase technology offerings and engage with potential customers [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the industrial segment and the potential for significant revenue growth, projecting $30 million to $50 million in revenue over the next 12 to 18 months [28] - The company remains cautious about the automotive sector, expecting no substantial projects to be awarded in the near future [11] - Management highlighted the importance of a strong balance sheet and strategic partnerships to navigate the current market challenges [10][22] Other Important Information - The company has secured a production commitment with ZF in France, minimizing exposure to China tariffs and enhancing competitiveness [18] - The company is exploring strategic alliances in the defense sector but is currently focused on commercial agreements [57] Q&A Session Summary Question: Is this the first quarter with commercial sales? - The company confirmed that commercial sales were also present in the fourth quarter, indicating a continued effort in this area [32][33] Question: What is driving the potential revenue range of $30 million to $50 million? - The revenue is primarily driven by industrial automation activities and the deployment of ADAS solutions [35][36] Question: How many unique entities is the company working with? - The company is currently engaging with less than 10 unique customers in the industrial space [42] Question: What is the scope of military opportunities? - The company aims to be a technology partner for prime contractors in the military space, focusing on delivering integrated solutions rather than bidding for large contracts [44][45] Question: How does the company plan to compete with existing players in the industrial vertical? - The company plans to offer a complete solution that includes both hardware and software, aiming for lower price points through economies of scale [78][79] Question: What are the 2025 milestones to track? - Key milestones include signing commercial deals in the industrial space, engaging in pilot programs for new technologies, and establishing partnerships in the defense sector [89][90]

21世纪经济报道记者 邓浩 上海报道 今年以来，随着智能汽车对辅助驾驶安全的重视程度增强，激光雷达或加速渗透。 而在L4及以上，整车厂全责要求下更大安全冗余，或采用前后2颗长距激光雷达，周边4-6颗补盲激光雷 达实现车身视角全覆盖。 事实上，仅在2024年，全球乘用车激光雷达市场就已同比增长68%，市场规模攀升至6.92亿美元。其 中，中国激光雷达品牌占据92%的份额。 因此，短距补盲雷达或成为最大的增量。 "现在一些性价比高的短距补盲雷达在1000多元，甚至1000元以下。L4一般4个以上，L3至少需要3个， 整套方案的售价范围在1千元到2千元。"前述激光雷达头部厂商人士表示。 从渗透率上看，去年中国乘用车L2级及以上辅助驾驶的渗透率达到55.7%，中国电动汽车百人会副理事 长兼秘书长张永伟更是预计到2025年，这一数字可能会接近65%。 某激光雷达头部厂商人士对记者表示，随着L3时代的来临，短距雷达渗透率很可能会有翻倍的增长。 其预计车端市场今年会开始启动，明年会有比较大的爆发。 短距雷达上量或在明年 除了长距主雷达外，短距雷达由于在补盲方面的显著优势，在L3渗透提升下或快速增长。 从安全和成本上看，由于 ...

Financial Data and Key Metrics Changes - The company reported revenue of $32.6 million for the first quarter of 2025, with a gross margin of 41%, which includes a patent royalty of $1.5 million [6][17] - Gross margin increased by 1,200 basis points year over year, reflecting higher revenues and a favorable product mix [17][18] - The balance sheet remains strong, ending the quarter with $171 million in cash and equivalents and zero debt [7][19] Business Line Data and Key Metrics Changes - The industrial vertical was the largest contributor to revenue, followed by automotive, with significant shipments supporting applications in warehouse autonomy and robotaxi [17] - The company secured multimillion-dollar deals across all four verticals, including smart infrastructure, industrial, automotive, and robotics [7][9] Market Data and Key Metrics Changes - The company is experiencing robust customer interest in its products, particularly in the industrial and automotive sectors, with ongoing testing and validation processes leading to new awards [39][40] - The robotaxi market is accelerating, particularly in North America, with partnerships with high-profile customers [46][48] Company Strategy and Development Direction - The company is focused on three strategic priorities for 2025: scaling the software attached business, transforming the product portfolio, and executing towards profitability [10][15] - The introduction of new hardware and software capabilities is expected to double the addressable market, with significant product releases anticipated [14][33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of the physical AI market and the company's ability to meet demand despite geopolitical uncertainties [20][68] - The company remains committed to maintaining gross margins between 35% to 40% and controlling operating expenses [18][22] Other Important Information - The company announced the appointment of Ken Gianella as Chief Financial Officer, effective May 19, 2025 [15] - The company is actively working to mitigate the impact of tariffs on costs and does not expect current tariff levels to hinder long-term growth [20][71] Q&A Session Summary Question: Gross margins and future expectations - The company is pleased with its margin performance, currently trending towards the higher end of its 35% to 40% range, and will provide more clarity on software contributions when significant [26][28] Question: New product impact on total addressable market (TAM) - Upcoming product releases are expected to significantly expand the TAM, with positive signals from conversations with tier one customers [31][33] Question: Testing processes with new customers - Ongoing testing with customers is crucial for building long-term relationships and moving towards production [36][39] Question: Robotaxi market specifics - The company is well-positioned in the North American robotaxi market, with partnerships with notable customers [46][48] Question: Competitive dynamics in the LiDAR market - The company has maintained its focus on diverse verticals while observing competitors' inconsistent efforts to enter these markets [75][78]

Financial Data and Key Metrics Changes - The company reported revenue of $32.6 million for the first quarter of 2025, with a gross margin of 41%, which includes a patent royalty of $1.5 million [5][16] - Gross margin increased by 1,200 basis points year over year, reflecting higher revenues and a favorable product mix [16] - The balance sheet remains strong with $171 million in cash and equivalents and zero debt [6][18] Business Line Data and Key Metrics Changes - The industrial vertical was the largest contributor to revenue, followed by automotive, with significant deals in warehouse autonomy and robotaxi applications [16] - The company shipped approximately 4,700 sensors in the first quarter, indicating robust demand across various sectors [16] Market Data and Key Metrics Changes - The company expanded its relationship with Lazze Pico in the smart infrastructure vertical, signing its largest contract for software attached sales in Europe [6] - In the automotive sector, the company was selected by a global OEM's mobility subsidiary to supply sensors for autonomous vehicle development [7] Company Strategy and Development Direction - The company is focused on three strategic priorities for 2025: scaling the software attached business, transforming the product portfolio, and executing towards profitability [8][13] - The product portfolio is being transformed with new hardware and enhanced software capabilities, aiming to double the addressable market [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of physical AI and the adoption of LiDAR technology, noting that advancements in AI are making systems more capable and affordable [68] - The geopolitical and macroeconomic environment remains fluid, but the company does not expect tariffs to significantly impact its business [19][72] Other Important Information - The company announced the appointment of Ken Gianella as Chief Financial Officer, effective May 19, 2025 [13] - The company achieved a major milestone in collaboration with NVIDIA for its AI model, which has been trained on over 4 million labeled objects [12] Q&A Session Questions and Answers Question: On gross margins and software contribution - The company is pleased with its margin performance, trending towards the higher end of its 35% to 40% range, and will provide more clarity on software contributions when significant [24][27] Question: About new products and TAM expansion - The upcoming product releases are expected to be transformational, potentially doubling the addressable market, with positive signals from key customers [30][31] Question: Testing process with new customers - The company engages in ongoing testing with customers, which helps build long-term relationships and accelerates production orders [35][37] Question: LiDAR adoption speed - The company believes LiDAR adoption is tracking to its long-term model, with positive trends in the field of autonomy and physical AI [68] Question: Impact of tariffs on customers - There has been minimal disruption due to tariffs, and the overall trend towards automation remains strong [71][72] Question: Competitive dynamics in the market - The company has not seen consistent efforts from competitors to develop solutions in non-automotive markets, maintaining its position as a leading player [76][77]

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $8 million or $0.46 per share in Q1 2025, an improvement from a GAAP net loss of $8.5 million or $0.93 per share in Q4 2024, primarily due to a non-cash adjustment related to lease liabilities [27][28] - Non-GAAP net loss was $5.8 million or $0.33 per share in Q1 2025, compared to a non-GAAP net loss of $6.3 million or $0.69 per share in the prior quarter [28] - Cash burn for Q1 2025 was $8 million, which included $3.1 million of one-time payroll expenses, with expectations for a normalized run rate of about $5 million per quarter moving forward [25][29] Business Line Data and Key Metrics Changes - The Apollo LiDAR solution has reached a critical milestone with the first units produced, marking a significant step towards high-volume production [6][13] - The company is in the final testing and validation stage of integration with NVIDIA DRIVE, which is expected to enhance customer engagement and sales opportunities [7][18] Market Data and Key Metrics Changes - The company has successfully raised $24 million over the past fourteen months, including $13 million in Q1 2025, which reflects strong market enthusiasm for its technology [22][12] - The total addressable market (TAM) for intelligent transportation systems (ITS) alone is estimated at $20 billion, indicating substantial growth potential beyond the automotive sector [58] Company Strategy and Development Direction - The company has pivoted its strategy to focus on the automotive sector, developing a single high-quality product for Advanced Driver Assistance Systems (ADAS) while maintaining flexibility for adjacent markets [8][11] - A capital-light model has been adopted, significantly reducing operating expenses by 75% and headcount by nearly 60%, which positions the company for sustainable growth [9][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic uncertainties and adapt to industry changes, emphasizing a culture of operational discipline and innovation [10][19] - The company is optimistic about future growth opportunities, particularly in the automotive and non-automotive sectors, as it continues to engage with OEMs and expand into international markets [12][19] Other Important Information - The company resolved a lease dispute, reducing potential cash liability exposure from $6.4 million to $1.4 million, which is expected to provide a solid foundation for future operations [22][48] - The Apollo sensor's software-defined capabilities allow for rapid modifications, enabling the company to engage with various customers across different markets without significant increases in spending [17][56] Q&A Session Summary Question: Clarification on the real estate litigation timing - The lease liability was adjusted in Q1, with actual cash payout expected in Q2 [35] Question: Cash burn trend for the rest of the year - A normalized run rate is expected to be about $5 million per quarter, with Q2 anticipated to be slightly higher due to lease settlement liabilities [38] Question: Integration with NVIDIA and its impact on manufacturing scaling - The integration process is in the final testing phase, which will open up NVIDIA's ecosystem for scaling conversations with OEMs [42] Question: Inventory levels and manufacturing scaling timing - The company has sufficient inventory for anticipated short-term demand, with some ramp expected this year [45] Question: Market size comparison between automotive and non-automotive sectors - The automotive market is vast with 90 million vehicles sold annually, while non-automotive markets also present significant opportunities, particularly in ITS [58]

Good afternoon and welcome to the MicroVision fourth quarter and full year 2024 financial and operating results conference call. At this time, all participants are in a listen-only mode. At the end of today's presentation, there will be an opportunity to ask questions via a chat line. statements regarding our business, product, and go-to-market strategies, customer and partner engagement, cash, liquidity, and the impacts of our recent financing activities, market landscape, opportunities, and program volume ...

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $1.7 million, up from $500,000 year-over-year, primarily driven by industrial vertical customers [26][27] - The company experienced a cash burn that remains one of the lowest in the marketplace, with a cash balance of $75 million at year-end [24][29] - The company has extended its cash runway into 2026 following two rounds of investments totaling over $90 million [24][30] Business Line Data and Key Metrics Changes - The company is focusing on automotive OEM programs with seven RFQs and several custom development proposals, while also engaging in industrial opportunities such as Automated Guided Vehicles (AGVs) and Autonomous Mobile Robots (AMRs) [6][9] - The total addressable market (TAM) for industrial applications is lower than automotive but offers faster revenue potential from multi-year programs [12][21] Market Data and Key Metrics Changes - The company is actively pursuing opportunities in the defense sector, anticipating increased defense spending under the current administration [15][21] - The competitive landscape includes challenges from Chinese automotive OEMs, which are driving U.S. and European OEMs to expedite their ADAS and EV initiatives [21] Company Strategy and Development Direction - The company aims to expand its near-term revenue opportunities in industrial and defense sectors while adapting to evolving timelines in the automotive industry [21][24] - The new CTO, Glenn De Vos, emphasizes the importance of delivering a complete perception system and advanced features suitable for various markets, including automotive and defense [20][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that automotive OEMs are adjusting their product launch timelines, which has affected revenue expectations [10][21] - The company remains optimistic about its engagements in the industrial sector and expects to see significant revenue from these partnerships in the near future [12][32] Other Important Information - The company has secured production commitments from its manufacturing partner, ZedF, to meet anticipated demand in the industrial vertical [50] - The company plans to maintain a disciplined cost management approach while focusing on operational excellence [23][24] Q&A Session Summary Question: How much of the $1.7 million revenue in Q4 was from commercial shipments versus R&D work? - The revenue was primarily derived from the sale of sensors to multiple customers, with minimal NRE expected to be pushed to 2025 [34][35] Question: Are the defense opportunities related to ground-based or aerial objects? - The focus is on ground-based applications, with the company working with partners in the military space [37][39] Question: What is the competitive nature of the commercial opportunities? - The company competes against various players but emphasizes its unique capabilities and the value of being a domestic supplier [41][43] Question: Can you clarify the $30 million to $50 million demand from ZedF? - This figure represents anticipated demand over the next 12 to 18 months, with secured production commitments to ensure supply [50] Question: What are the realistic timelines for RFQs converting into revenue? - The timelines for RFQs are elongating due to technical evaluations and the complexity of decisions within OEMs [54][56] Question: How does MicroVision plan to compete with FMCW LiDAR technology? - The company believes that while FMCW technology is gaining traction, it faces significant cost barriers and that its time-of-flight technology remains competitive [90][89]

Financial Data and Key Metrics Changes - Revenue for the year 2024 was $9.1 million, driven by increased sensor shipments to automotive and industrial customers, including the Daimler Truck program [36] - Full year non-GAAP operating loss was $123.2 million, consistent with the plan to keep it flat from the prior year [36] - Aeva ended the year with total available liquidity of $237 million, which includes $112 million in cash and cash equivalents and $125 million in undrawn facilities [37][38] - For 2025, the company targets revenue growth to be in the range of $15 million to $18 million, representing an increase of approximately 70% to 100% year-over-year [39] Business Line Data and Key Metrics Changes - Aeva has achieved significant milestones with its products, including the launch of the Atlas Ultra product, which offers three times the resolution and a wider field of view compared to previous models [22] - The company is seeing increased momentum in industrial robotics and factory automation, with a target to increase industrial sensor shipments by nearly 1,000% in 2025 [26][55] Market Data and Key Metrics Changes - Aeva is positioned in a $10 billion-plus market opportunity in industrial robotics and factory automation, with partnerships with industry leaders like Nikon and SICK AG [26][51] - The company has secured a development program with a global top 10 passenger OEM, which is expected to lead to a large-scale production program later this year [15][17] Company Strategy and Development Direction - Aeva aims to drive the adoption and commercialization of FMCW technology while maintaining strong financial discipline [31] - The company plans to complete its automated and automotive-qualified production line with a capacity for over 100,000 units annually [34] - Aeva is focused on expanding its presence in both automotive and industrial sectors, leveraging its unique FMCW technology [33][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute on its objectives and capitalize on the growing momentum around FMCW technology [35] - The company anticipates record revenues for 2025, with a focus on reducing operating expenses by approximately 10% to 20% year-over-year [34][41] Other Important Information - Aeva's Atlas Ultra product is designed to meet OEM requirements for Level 3 and higher speed applications, showcasing the company's commitment to innovation in the LiDAR space [22][23] - The company has made significant progress in its partnership with Daimler Truck, with plans for production to start in 2026 [20][21] Q&A Session Summary Question: Can you talk about initial targets outside of metrology and the cycle time for design wins? - Management highlighted the excitement around opportunities in robotics and factory automation, indicating a significant market potential [50][55] Question: Can you provide an update on manufacturing progress? - Management confirmed that they are focused on increasing manufacturing capacity to meet growing demand, with a target of 100,000 units per year [58][59] Question: How does the operating expense reduction apply to large programs like the Daimler Truck program? - Management indicated that significant development work has been completed, and they are now focused on scaling production while reducing costs [66][69] Question: What is the expected contribution timeline for the OEM program? - Management stated that the target for the Atlas Ultra start of production is 2027, with expectations for production ramp to follow [78] Question: How does the company feel about its current cash position? - Management expressed confidence in their liquidity, stating that they have a multiyear runway to support production and growth [81][82] Question: What is the general area of the top 10 OEM's headquarters and their operational geographies? - Management confirmed that the OEM is a well-known global brand with significant vehicle production, indicating a large opportunity for collaboration [88][90]