Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 726

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 2
Chunk 726
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 of operations. Amortization of premiums and accretion of discounts are included within interest expense and other on the consolidated statements of operations.

   Restricted Cash   Restricted cash of $2,150 as of  December 31, 2023, consisted of funds that were contractually restricted as to usage or withdrawal due to a contractual agreement. The Company had a letter of credit to the amount of $2,150 with Citibank N.A. as of  December 31, 2023 as security for the payment of rent on its headquarters. In  August 2024, the former landlord drew down on the letter of credit and the restricted cash was used to offset the letter of credit draw (see further discussion in Note 6).  The Company had no restricted cash as of  December 31, 2024.

   Concentration of Credit Risk   Financial instruments which potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities, and accounts receivable. The Company places its cash and cash equivalents with major financial institutions, which management assesses to be of high credit quality, to limit the exposure of each investment. The Company’s marketable securities have investment grade ratings when purchased which mitigates risk.   The Company’s accounts receivable are derived from customers located in the U.S. and Europe. The Company mitigates its credit risks by performing ongoing credit evaluations of its customers’ financial conditions. The Company generally does not require collateral.  

        72

       The Company’s concentration of risk related to accounts receivable and accounts payable was determined by evaluating the number of customers and vendors accounting for 10% or more of accounts receivable (“AR”) and accounts payable (“AP”). As of  December 31, 2024, the Company had three customers, each accounting for 10% or more of AR and one vendor accounting for 10% or more of AP. As of  December 31, 2023, the Company had four customers, each accounting for 10% or more of AR and one vendor accounting for 10% or more of AP.   For the years ended  December 31, 2024 and 2023, revenue from the Company’s major customers representing 10% or more of total revenue was as follows:  
    
        Year ended December 31,  
   2024    2023  
 Customer A   50%