Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 920

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 6
Chunk 920
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 of customers and vendors accounting for 10% or more of accounts receivable (“AR”) and accounts payable (“AP”). As of  December 31, 2024, the Company had three customers, each accounting for 10% or more of AR and one vendor accounting for 10% or more of AP. As of  December 31, 2023, the Company had four customers, each accounting for 10% or more of AR and one vendor accounting for 10% or more of AP.   For the years ended  December 31, 2024 and 2023, revenue from the Company’s major customers representing 10% or more of total revenue was as follows:  
    
        Year ended December 31,  
   2024    2023  
 Customer A   50%  * 
 Customer B   32%  * 
 Customer C   *   70%

        *Customer accounted for less than 10% of total revenue in the period.

   Fair Value of Financial Instruments   The Company defines fair value as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. For additional discussion on fair value of financial instruments, see Note 2.

   Derivatives   The Company accounts for derivative instruments in accordance with Financial Accounting Standards Board's (FASB) Accounting Standards Codification (ASC) Topic 815, Derivatives and Hedging (“ASC 815”). The Company’s objectives and strategies for using derivative instruments, and how the derivative instruments and related hedged items are accounted for affect the financial statements.   The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risk. Terms of convertible debt instruments are reviewed to determine whether they contain embedded derivative instruments that are required under ASC 815 to be accounted for separately from the host contract and recorded on the consolidated balance sheets at fair value.   An evaluation of specifically identified conditions is made to determine whether the fair value of the derivative issued is required to be classified as equity or as a derivative liability. The fair value of derivative liabilities is required to be revalued at each reporting date, with corresponding changes in fair value recorded in current period operating results. For additional discussion