LIDR - What's Going On With AEye Stock After Earnings? | Benzinga
AEye, Inc. (NASDAQ:LIDR) shares are trading higher Wednesday. The company posted its first-quarter financial results Tuesday after the market close.
The Details:
AEye reported quarterly losses of $1.13 per share which beat the analyst consensus estimate of losses of $1.40 by 19.29%. Quarterly revenue came in at $20,000, missing the analyst consensus estimate of $100,000 by 80% and represents a 96.86% decrease from the same period last year.
The company also announced it will partner with Accelight Technologies, Inc. and LighTekton Co., Ltd. to deliver AEye’s 4Sight lidar solutions to the China market.
“AEye made incredible progress with our capital-light partnership model in the first quarter, including significantly expanding our strategic opportunities and opening the door to the booming lidar market in China. The first product from our 4Sight Flex reference design, Apollo, has passed an important technical performance milestone, which is driving interest among automotive OEMs. Additionally, ...