Company: LIDRW
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025747
Chunk: 107

Company: AEye, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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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. We expect the change in fair value of warrant liability to decrease given that subsequent to June 30, 2025, the warrants associated with the 2022 convertible note were cancelled and the warrants associated with the 2025 convertible note were exercised in full.

       27

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. We expect interest income will increase due to funds raised subsequent to June 30, 2025.

Results of Operations

Comparison of the three months ended June 30, 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 June 30, 2025 and 2024 (in thousands, except for percentages):

      Three months ended June 30, 

      Change 

      Change 

      2025 

      2024 

      $ 

      % 

      Revenue 
      
     $
     22

     $
     32

     $
     (10
     )

     (31
     )%

      Cost of revenue 

     108

     160

     (52
     )

     (33
     )%

      Gross loss 

     (86
     )

     (128
     )

     42

     (33
     )%

      Research and development 

     3,670

     3,838

     (168
     )

     (4
     )%

      Sales and marketing 

     601

     67

     534

     797
     %

      General and administrative 

     4,348

     4,223

     125

     3
     %

      Total operating expenses 

     8,