AEVA - LiDAR Quarterly Insights: 2023 Results Summary And 2024 Outlook
2024-04-01 05:48:58 ET
Summary
- 2023 was challenging for LiDAR companies, especially in the Western market. Most faced setbacks and uncertainties in the consumer auto ADAS sector.
- Financially, despite a combined revenue of $200M, operating expenses exceeding $1.1B highlighted the struggle to sustain operations and fund R&D efforts.
- Looking ahead to 2024, only Ouster is showing positive growth, while others face financial constraints and limited revenue prospects.
2023 Update
It has been a tough year for LiDAR companies in 2023. Apart from one, most Western LiDAR companies focused on the consumer auto ADAS market. However, this market brought more uncertainty about their future than secured confidence from investors. Cepton ( CPTN ) and AEye ( LIDR ) faced significant setbacks with canceled production programs, drastically reducing their capabilities. The OEMs switching sensor providers added to the confusion, and despite participating in RFQ and RFIs, nominations were not made, but two trucking deals for Aeva ( AEVA ) and Cepton were finalized. The first deal with Daimler Truck/Torc has been worked on since August; the second was mentioned in November....
LiDAR Quarterly Insights: 2023 Results Summary And 2024 Outlook