Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 140

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 140
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   The Company recognized the following revenues by geographic area based on the primary billing address of the customer and by the timing of the transfer of goods or services to customers (point in time or over time), as it believes such criteria best depict how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue based on the disaggregation criteria described above is as follows (in thousands):

       Year ended December 31,  
   2024    2023  
 Revenue by primary geographical market:         
 United States  $154  $1,223 
 Europe   48   184 
 Asia-Pacific   —   57 
 Total  $202  $1,464 
         
 Revenue by timing of recognition:         
 Recognized at a point in time  $97  $477 
 Recognized over time   105   987 
 Total  $202  $1,464 

   Contract Liabilities
    
   The Company had no contract liabilities as of  December 31, 2024 and 2023. The following table shows the significant changes in contract liabilities balance as of  December 31, 2024 and 2023 (in thousands):

       Year ended December 31,  
   2024    2023  
 Beginning balance  $—  $987 
 Revenue recognized that was included in the contract liabilities beginning balance   —   (987)
 Ending balance  $—  $— 

   Remaining Performance Obligations
    
   Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied. It includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods and does not include contracts where the customer is not committed. The customer is not considered committed where they are able to terminate for convenience without payment of a substantive penalty under the contract. Additionally, as a practical expedient, the Company has not disclosed the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The contract liabilities balance represents the remaining performance obligations for contracts with an original duration of greater than one year.

       93

       18. 
       RESTRUCTURING 

   In 2023, the Company implemented a revised strategic plan, which focused on key products and critical customer