AEye, Inc. Q1 FY2025 earnings call

• Reached a critical milestone with the first units of Apollo lidar solution coming off the manufacturing line of LITEON.
• In the final test and validation stage of integration to NVIDIA DRIVE.
• Gained traction with new customers, entered into technical engagements with over 20 potential customers, and have proof-of-concept contracts in negotiation.
• Established a resilient supply chain with global diversification to navigate geopolitical landscapes.
• Underwent financial transformation including cutting operating expenses by 75%, reducing headcount, and raising $24 million over 14 months.
• Progressed on Apollo's manufacturing with first B-samples completed and set to deliver to customers in coming weeks.
• Apollo's software-defined lidar offers flexibility for various use cases, accelerating customers' development timelines.

No specific detailed financial performance for product segments with absolute terms and revenue contribution % provided in the transcript.

• Full year 2025 cash burn expected in the range of $27 million to $29 million, up from prior estimate, with underlying operational cash burn unchanged.
• NVIDIA integration in final independent testing phase, which will open up NVIDIA's ecosystem and allow scaling of conversations into more OEMs.
• Progress on proof-of-concept contracts in non-automotive sectors, with two contracts already closed in ITS and defense.

• Uncertainties associated with forward-looking statements, as actual results may differ materially.
• Potential impacts from tariffs and geopolitical dynamics on the supply chain.
• Dependencies on OEM and partner timelines for contract milestones and product integration.

Q: Are you talking about the pipeline of roughly in the non-auto business? And can you give appreciation for the scale or the size of the market, auto versus non-auto?

A: Yes, referring to non-auto business. Automotive market is huge with 90 million passenger vehicles sold annually; non-auto has opportunities like ITS with a $20 billion TAM, volumes smaller but price points higher; our model doesn't take much to reach profitability with two contracts closed and 20+ in pipeline.