Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 1126

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1A
Chunk 1126
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, resulting in a write-down of its property and equipment and ROU asset to fair value.
    
   As a result of the implementation of the revised strategic plan and the impairment review of long-lived assets, the Company recorded restructuring charges of $19,153 for the year ended  December 31, 2023 primarily relating to one-time employee termination benefits, inventory and other current asset write-downs, losses on purchase commitments, and impairment and disposal charges on its long-lived assets.  The Company recorded a net gain of $368, primarily relating to the net gain on termination of lease, losses on purchase commitments and one-time termination benefits.  Restructuring-related liabilities are included in accrued expenses and other current liabilities in the consolidated balance sheets.
    
   Restructuring charges were included in the consolidated statements of operations and comprehensive loss during the years ended  December 31, 2024 and 2023 as follows (in thousands):

   Year ended December 31,  
   2024    2023  
 Cost of revenue  $105  $5,721 
 Research and development   —   941 
 Sales and marketing   18   2,079 
 General and administrative   (491)  472 
 Impairment of long-lived assets   —   9,940 
 Total restructuring charges  $(368) $19,153 

   A reconciliation of the beginning and ending balance of cash restructuring charges, including one-time employee termination benefits, losses on purchase commitments, and other restructuring charges, which are included in accounts payable and accrued expenses and other current liabilities in the consolidated balance sheets, is as follows (in thousands):

        One-time 

        employee 

        Losses on 

        Lease 

        termination 

        purchase 

        Termination 

        benefits 

        commitments 

        Liability 

        Other 

        Total 

        Balance as of December 31, 2023 
        
       $
       402

       $
       233

       $
       —

       $
       56

       $
       691

        Charges 

       18

       105

       5,463

       —

       $
       5,586

        Cash payments 

       (420
       )

       (41
       )

       (2,150
       )

       (51
       )
        
       $
       (2,662
       )

        Balance as of December