Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 1195

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1B
Chunk 1195
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     366

     707

     (341
     )

     (48
     )%

      Loss before income tax 

     (35,462
     )

     (87,069
     )

     51,607

     (59
     )%

      (Benefit) provision for income tax 

     (2
     )

     57

     (59
     )

     (104
     )%

      Net loss 
      
     $
     (35,460
     )
      
     $
     (87,126
     )
      
     $
     51,666

     (59
     )%

Revenue

Prototype Sales

Prototype sales decreased by $380, or 80%, to $97 for the year ended December 31, 2024 from $477 for the year ended December 31, 2023. This was primarily due to a decrease in units sold of our 4Sight™-based Non-Automotive product due to our focus in 2024 on executing key automotive product development milestones.

Development Contracts 

Development contracts decreased by $882, or 89%, to $105 for the year ended December 31, 2024, from $987 for the year ended December 31, 2023. The decrease was primarily due to lower development contract revenue as we fulfilled our obligations under a Tier 1 automotive supplier contract in the fourth quarter of 2023.

       56

Cost of Revenue

Cost of revenue decreased by $14,541, or 95%, to $778 for the year ended December 31, 2024, from $15,319 for the year ended December 31, 2023. This decrease was primarily due to fewer Non-Automotive product units sold in the current year, and also due to lower development contract costs as we completed our obligations under a Tier 1 automotive supplier contract in the fourth quarter of 2023. The decrease was also due to non-routine inventory write-downs associated with transitioning to certain higher-grade components in our automotive products as well as the implementation of our revised strategic plan which resulted in further inventory write-downs and losses related to purchase commitments. 

Operating Expenses

Research and Development

Research and development expenses decreased by $9,782, or 37%, to $16,389 for the year ended December 31