AEye (LIDR) investor relations material

Executive summary

• Q1 2026 revenue increased nearly 60% year-over-year to $101,000, with active customer count rising to 21, a 31% increase since Q4 2025, and record commercial engagement across defense, automotive, trucking, rail, infrastructure, and APAC markets.

• Commercial pipeline and issued quotes grew nearly 40% sequentially, with strong technical engagements and proofs of concept across all target markets.

• Strategic partnerships with NVIDIA, LITEON, SynTech, ATI, and LighTekton underpin a diversified supply chain, enable rapid solution deployment, and expand manufacturing and distribution, especially in APAC.

• Software-defined lidar architecture and product tunability drive differentiation, allowing rapid adaptation across use cases without hardware changes.

• Expanded APAC presence with commercial-stage conversions and multi-vertical OEM engagement in Australia, Korea, and China.

Financial highlights

• Q1 2026 revenue was $101,000, up from $64,000 in Q1 2025; gross loss of $100,000 due to low sales volume and high cost of revenue.

• GAAP net loss was $8.3 million ($0.18/share); non-GAAP net loss was $6.7 million ($0.15/share), both flat or slightly higher sequentially.

• Operating expenses rose to $8.9 million, with R&D at $3.8 million, sales and marketing at $986,000, and G&A at $4.2 million.

• Cash burn for Q1 was $9.2 million, up from $7.5 million in Q4 2025; cash used in operating activities was $8.6 million.

• Ended Q1 with $77.2 million in cash, equivalents, and marketable securities, providing operational runway into 2028.

Outlook and guidance

• Reaffirmed full-year 2026 cash burn target of $30–$35 million, including $5 million in working capital, with sufficient capital to support operations and production cycles into 2028.

• Expectation for revenue inflection in the second half of 2026, with more units in the pipeline for Q2 and continued growth into Q3 and Q4.

• Management expects continued operating losses as commercialization and R&D investments persist.