Company: LIDRW
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025747
Chunk: 87

Company: AEye, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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s, classified within other noncurrent assets on the condensed consolidated balance sheet as of  June 30, 2025 and  December 31, 2024, respectively.
    
   The Company’s current and noncurrent inventory as of  June 30, 2025 and  December 31, 2024 was written down by $4,648 and $4,659, respectively, in order to reduce inventory to the lower of cost or net realizable value.

    4.   PREPAID AND OTHER CURRENT ASSETS 

   Prepaid and other current assets as of  June 30, 2025 and  December 31, 2024 were as follows (in thousands):

       June 30, 2025    December 31, 2024  
   (unaudited)      
 Prepaid expenses  $886  $966 
 Receivable for issuance of common stock   —   1,679 
 Other   57   61 
 Total prepaid and other current assets  $943  $2,706 

   The Company’s advances to suppliers as of  June 30, 2025 and  December 31, 2024 were written down by $1,041 and $1,041, respectively, associated with the winding down of its legacy Non-Automotive product as part of its revised strategic plan. See Note 15, Restructuring, for further details.

       14

    5.   LEASES 

   The Company leases office facilities in Northern California under non-cancelable operating leases. In  July 2024, the Company entered into two new long-term leases, one of which the Company uses as its headquarters. 
    
   In  August 2024, one of the Company's existing leases, originally set to expire on  November 30, 2026 was terminated early. In conjunction with the early termination, the Company recorded a net gain of $491 on termination of the operating lease during the year ended  December 31, 2024. The net gain included a gain of $5,954, comprised of a $16,325 net liability reduction, partially offset by a $10,371 decrease in its remaining right of use asset.  Additionally, in accordance with terms in the lease agreement and based on certain assumptions, the Company