Company: LIDRW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001437749-25-015868
Chunk: 99

Company: AEye, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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 expenses include:

      • 
      personnel-related costs, including salaries, benefits, bonuses, one-time termination benefits, and stock-based compensation expense for executive, finance, legal, operations, human resources, technical support, and other administrative personnel; 

      • 
      consulting, accounting, audit, legal, and other professional fees; 

      • 
      insurance premiums, software and computer equipment costs, general office expenses; and 

      • 
      allocated overhead expenses. 

We expect our G&A expenses to decrease slightly with reduced facility costs and professional fees, while continuing to incur expenses to support other departments as we continue to develop and commercialize our Apollo product.

Change in Fair Value of Convertible Note and Warrant Liabilities

The changes in fair value of the 2025 Note and warrant liabilities are the result of the change in fair value at each reporting date. The 2025 Note and warrant liabilities are recorded at fair value for each reporting period, and the changes in fair value are reported within other income (expense), net during the period. We also elected to record interest expense on the 2025 Note as changes in fair value.

       24

Interest Income, Interest Expense and Other 

Interest income and other consists primarily of interest earned on our cash, cash equivalents, and marketable securities. These amounts will vary based on our cash and cash equivalents balances and market rates. Interest income and other also includes gains on sale of property and equipment. Interest expense and other consists primarily of financing costs, and amortization of premiums and accretion of discounts on marketable securities, net.

Results of Operations

Comparison of the three months ended March 31, 2025 and 2024

The results of operations presented below should be reviewed in conjunction with the condensed consolidated financial statements and notes included elsewhere in this report. The following table sets forth our consolidated results of operations data for the three months ended March 31, 2025 and 2024 (in thousands, except for percentages):

      Three months ended March 31, 

      Change 

      Change 

      2025 

      2024 

      $ 

      % 

      Revenue 
      
     $
     64

     $
     20

     $
     44

     220
     %

      Cost of revenue 

     96

     263

     (167
     )

     (63
     )%

      Gross loss 

     (32
     )

     (243
     )

     211