Aeva Technologies, Inc. Q2 FY2024 earnings call

Partnership with Daimler Truck

• On track with Daimler Truck's program milestones, including continued center shipments for on-road vehicle fleet build-out. Daimler Truck unveiled an autonomous Freightliner vehicle using Aeva's 4D LiDAR as exclusive long-range and ultra-long-range LiDAR.

Automotive

• Made significant progress with multiple global top 10 passenger vehicle OEMs: one expects award decision later this year; another began new collaboration on 4D LiDAR vehicle integration.

Industrial

• Completed final validation of LiDAR-on-Chip in Nikon's product ahead of Q4 Industrial launch; scaled up dedicated LiDAR chip manufacturing line at Fabrinet; collaboration with Nikon for industrial metrology applications.

Security

• Selected by top U.S. National Defense Security organization for critical energy infrastructure protection, expecting first sensor deliveries later this year; 4D LiDAR chosen for faster, more reliable detection.

Rail

• Selected for Germany's automated train program, leveraging 4D LiDAR for hazard detection and GPS-independent positioning in tunnels and urban areas.

Revenue in Q2 was $2 million, driven by sensor shipments to multiple customers and NRE from Daimler Trucks. No detailed breakdown by product segments provided in the transcript.

• Continues to be in final stages of key opportunities and advancing on engagements across automotive and beyond.
• Believes in a strong position to convert portions of these opportunities to wins this year and further Aeva's mission to bring next-wave perception to various applications.

• Forward-looking statements subject to risks and uncertainties where actual results may differ materially from expectations.
• Risks discussed in SEC filings, including Form 10-Q and 10-K, which should be referred to for material risks affecting financial results.

Q: Colin Rusch asks about leverageability of security opportunity.

A: Soroush Salehian states security is first expansion in the space, higher ASPs than automotive, engaged in other defense/security opportunities with potential for expansion.

Q: Colin Rusch asks about Nikon production scale-up.

A: Dedicated manufacturing line at Fabrinet up and running ahead of schedule, supports production programs, ISO 27001 certification achieved for automotive Tier 1 readiness.

Q: Joe Moore asks about top 10 passenger OEM.

A: Progress with OEM, technical collaboration, commercial discussions ongoing; new engagement with another top 10 OEM for 4D LiDAR vehicle integration.

Q: Richard Shannon asks about Nikon forecast and top 10 OEM decision delays.

A: Multi-year program with Nikon, higher ASPs, top 10 OEM award decision still expected this year, increasing activities despite industry trends showing some delays in others