Company: LIDRW
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025747
Chunk: 80

Company: AEye, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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Presentation of Financial Statements - Going Concern. In each reporting period, including interim periods, an entity is required to assess conditions known and reasonably knowable as of the financial statement issuance date to determine whether it is probable an entity will not meet its financial obligations within one year from the financial statement issuance date. These condensed consolidated financial statements have been prepared on a going concern basis.
    
   As is common in early-stage companies with limited operating histories, the Company is subject to risks and uncertainties such as its ability to develop and commercialize its products; produce and deliver lidar and software products meeting acceptable performance metrics; attract new and retain existing customers; develop, obtain, or progress strategic partnerships; secure an automotive OEM design win; secure additional capital to support the business plan; and other risks and uncertainties.
    
   Since its inception, the Company has incurred net losses and negative cash flows from operations. As of  June 30, 2025, the Company had an accumulated deficit of $390,381. As the Company is still in its early stages, management expects to incur additional operating losses and negative operating cash flows as management continues to focus on achieving commercialization of its lidar solutions and execute on its strategic initiatives. As the Company incurs additional losses in the future, management  may need to raise additional capital through issuances of equity and debt.
    
   The Company has funded its operations primarily through the business combination and issuances of stock. As of  June 30, 2025, the Company's existing sources of liquidity included cash, cash equivalents, and marketable securities of $19,210. Subsequent to  June 30, 2025, the Company successfully raised additional capital of $68,844 through its common stock purchase agreements and an exercise of warrants (see Note 18). As such, management believes that with total cash, cash equivalents and marketable securities at  June 30, 2025, together with the additional net proceeds raised subsequent to quarter-end, the Company currently has sufficient financial resources to fund operations and meet its capital requirements and anticipated obligations as they come due in the next twelve months from the date of issuance of these condensed consolidated financial statements. 
    
   As such, management has concluded that the conditions and events that previously raised substantial doubt no longer exist.
    
   Emerging Growth Company
    
   The Company is an “emerging growth company,” as defined in Section 2(a