Company: LIDRW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033677
Chunk: 103

Company: AEye, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 103
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 months ended September 30, 2024 related to certain legacy Non-Automotive components.

Operating Expenses

Research and Development

Research and development expenses decreased by $706, or 19%, to $3,061 for the three months ended September 30, 2025, from $3,767 for the three months ended September 30, 2024. This decrease was primarily driven by decreases in stock-based compensation expense of $715 and allocated information technology and facilities expense of $225. The decreases were partially offset by an increase in personnel costs, net of allocations, of $262. 

Sales and Marketing

Sales and marketing expenses increased by $557, to $631 for the three months ended September 30, 2025, from $74 for the three months ended September 30, 2024. This increase was primarily driven by increases in personnel costs, including allocations, of $484 and marketing spend of $86.  

General and Administrative

General and administrative expenses increased by $277, or 7%, to $4,080 for the three months ended September 30, 2025, from $3,803 for the three months ended September 30, 2024. This increase was primarily driven by an increase in rent expense of $1,061, primarily resulting from the lease settlement expense of $598, attributable to an increase in the liability related to the fair value of the warrant issued in connection with the settlement, compared to a gain recorded in the three months ended September 30, 2024. This increase was partially offset by decreases in stock-based compensation and personnel costs, net of allocations, of $814.

Change in Fair Value of Convertible Note and Warrant Liabilities 

Change in fair value of convertible note and warrant liabilities increased by $2,219 to an expense of $2,210 for the three months ended September 30, 2025, from a gain of $9 for the three months ended September 30, 2024. This increase was primarily due to the change in fair value of the 2025 Note and related warrants, which were newly issued in 2025, and also due to higher stock prices in the current quarter, resulting in a higher valuation of the warrant associated with the 2022 Note through the cancellation date in the current quarter.    

Interest Income and Other

Interest income and other increased by $417, or 179%, to