Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 103

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 103
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278.   ASC 205-40, Presentation of Financial Statements - Going Concern, requires management to assess an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. In each reporting period, including interim periods, an entity is required to assess conditions known and reasonably knowable as of the financial statement issuance date to determine whether it is probable an entity will not meet its financial obligations within one year from the financial statement issuance date.   As is common in early-stage companies with limited operating histories, the Company is subject to risks and uncertainties such as its ability to develop and commercialize its products; produce and deliver lidar and software products meeting acceptable performance metrics; attract new and retain existing customers; develop, obtain, or progress strategic partnerships; secure an automotive OEM design win; secure additional capital to support the business plan; and other risks and uncertainties related to liquidity.   Since its inception, the Company has incurred net losses and negative cash flows from operations. As of  December 31, 2024, the Company had an accumulated deficit of $373,095. For the years ended  December 31, 2024 and 2023, the Company incurred a net loss of $35,460 and $87,126, respectively, and the Company had net cash outflows from operating activities of $26,620 and $50,725, respectively. As of  December 31, 2024, the Company had $22,278 of cash, cash equivalents, and marketable securities. As the Company is still in its early stages, it is expected to incur additional operating losses and negative cash flows as it continues to focus on achieving commercialization of its lidar solutions. It remains critical for the Company to preserve cash and manage spending to extend its liquidity.    

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     [ The Company is dependent upon raising additional capital to provide the cash necessary to continue its ongoing operations and execute against its strategic objectives. During the twelve months ended  December 31, 2024, the Company issued shares through stock purchase agreements and a convertible note totaling $12,905. Subsequent to year-end, the Company raised an additional $11,055 in gross proceeds through financing activities (see Note 23, Subsequent Events.) However, successfully raising capital is outside of management's control and there can be no assurance that the Company will be able to obtain additional financing on terms acceptable to the Company, on a timely basis,