Financial Data and Key Metrics Changes - Revenue for Q4 was $22.5 million, up 45% quarter-over-quarter and 2% year-over-year, primarily driven by higher sensor sales [31][32] - Gross profit for the quarter was $12.5 million on a GAAP basis and $14 million on a non-GAAP basis, with positive gross margin achieved due to several factors including reversal of prior contract losses [33][34] - The company ended the year with $233 million in cash and liquidity, including $183 million in cash and marketable securities [36][37] Business Line Data and Key Metrics Changes - Over 4,000 Iris sensors were shipped in Q4, totaling over 9,000 for the calendar year, with the majority shipped to Volvo [32] - The transition from Iris to Luminar Halo is expected to streamline operations and enhance efficiency, focusing on a unified product platform [21][22] Market Data and Key Metrics Changes - The automotive industry is experiencing a shift towards integrating lidar and advanced technologies, with more automakers planning to adopt these technologies by the end of the decade [9][10] - The Western automotive market is projected to account for 90% of global lidar volume, positioning Luminar as a leader in this segment [15][58] Company Strategy and Development Direction - Luminar is focusing on a unified product platform with Luminar Halo, moving away from multiple product developments to streamline operations and reduce costs [21][22] - The company aims to capitalize on the growing demand for high-performance lidar solutions as the industry shifts towards level three autonomous driving capabilities [30][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term expansion of the lidar market despite near-term challenges, emphasizing the importance of safety and performance in vehicle technology [29][30] - The company is guiding for modestly negative gross margins in 2025, driven by lower sensor sales and production challenges, but expects to improve free cash flow through cost reduction efforts [41][43] Other Important Information - Luminar has invested nearly $2 billion over the past decade to develop its technology platform, which positions the company for future growth [24] - The company is actively exploring alternatives to mitigate tariff impacts on its products shipped from Mexico to the U.S. [45][82] Q&A Session Summary Question: Update on NVIDIA's Hyperion platform and Luminar's role - Management confirmed ongoing collaboration with NVIDIA and expects to continue as the reference lidar sensor for the Hyperion platform, highlighting the advantages of Luminar Halo [51][52] Question: Competitive dynamics in the lidar market, especially regarding Chinese suppliers - Management acknowledged rapid development in the Chinese lidar market but emphasized the differences in product requirements between Western and Eastern ecosystems, positioning Luminar as a premium player [55][58] Question: Specific customer development milestones for 2025 - Management indicated that detailed milestones are in place for key OEM customers, focusing on transitioning to Luminar Halo and maturing component subassemblies [66] Question: Impact of operational streamlining on Volvo series production - Management assured that the transition to a unified product focus would not materially impact current series production with Volvo [70] Question: Cash burn and profitability timeline - Management confirmed that cash burn might be around $200 million in 2025, with profitability expected shortly after 2026, contingent on successful market introduction of Luminar Halo [75][76] Question: Tariff risks and mitigation strategies - Management discussed ongoing evaluations of the tariff landscape and potential impacts on gross profit, emphasizing the company's global footprint as a strategic advantage [81][84]

Core Insights - Hesai Technology is the global leader in lidar technology for automotive mobility and robotics applications, holding the largest number of published patent applications for lidar globally [1][2] - As of December 2024, Hesai has nearly 1,800 patents and patent applications worldwide, with over 1,500 published patent applications specifically for the lidar industry and more than 600 granted global patents [2] - The company has strategically acquired Swiss digital lidar patents, enhancing its intellectual property portfolio and solidifying its position as an innovation powerhouse in the lidar market [1][2] Patent and Technology Development - SPAD (Single Photon Avalanche Diode) technology is a core component of digital lidar, and Hesai began research in this area in 2016, making it one of the first companies to do so [3] - The acquisition of Fastree3D, a pioneer in SPAD technology, allows Hesai to integrate advanced SPAD core patented technology into its proprietary fourth-generation platform, set to enter production in 2025 [3][4] - This new platform aims to produce high-quality, high-performance, and affordable lidar products, accelerating the large-scale development of the lidar industry [4] Product Features and Capabilities - Hesai's next-generation solid-state FTX lidar features an industry-leading field of view (FOV) of 180° x 140°, with a range of 30 m at 10% reflectivity and a point rate of 492,000 points per second, which is 2.5 times higher than the previous generation [5] - The FTX lidar is designed to be compact, weighing 66% less than its predecessor, and has a reduced exposed window area by 40% [5] - Hesai's solid-state FTX lidar, along with mini JT128 and JT16 domed lidars, can be integrated into various intelligent robots, providing a cost-effective alternative to traditional 2D lidars or cameras [6] Market Performance and Expectations - In December 2024, Hesai delivered over 20,000 lidar units to robotics customers and expects to ship over 1 million lidar units in 2025, supported by its in-house mass production capabilities and ongoing innovation [7]

Table of Contents As filed with the Securities and Exchange Commission on August 5, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 __________________________ AEYE, INC. (Exact name of registrant as specified in its charter) __________________________ Delaware 3714 37-1827430 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) ...

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