Company: LIDRW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033677
Chunk: 93

Company: AEye, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 93
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 convenience without payment of a substantive penalty under the contract. The Company has not disclosed the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The contract liabilities balance represents the remaining performance obligations for contracts with an original duration of greater than one year.

       15. 
       RESTRUCTURING 

   In 2023, the Company implemented a revised strategic plan, which focused on reducing fixed operating activities by simplifying business operations and focusing development and commercial activities on a single unifying product for both the Automotive and Non-Automotive markets. As part of its effort to reduce fixed operating costs, focus operations, simplify supply chains, and streamline manufacturing, the Company wound down support for its legacy Non-Automotive product. In  August 2024, the Company further reduced fixed operating costs and terminated its headquarters lease and in 2025, settled the amount of the lease termination liability.  See discussion in Note 5, Leases and Note 17, Commitment and Contingencies for further discussion regarding the settlement of the lease termination liability. 

       21

   Restructuring charges are summarized as follows for the nine months ended  September 30, 2025 (in thousands):

        Losses on purchase commitments 

        Lease Termination Liability 

        Other 

        Total 

        Balance as of December 31, 2024 
        
       $
       297

       $
       3,313

       $
       5

       $
       3,615

        Adjustments 

       —

       (1,014
       )

       —

       (1,014
       )

        Cash payments 

       (30
       )

       (1,400
       )

       —

       (1,430
       )

        Issuance of warrants 

       —

       (899
       )

       —

       (899
       )

        Balance as of September 30, 2025 
        
       $
       267

       $
       —

       $
       5

       $
       272

    16.  INCOME TAXES 

   For the nine months ended  September 30, 2025 and 2024, the Company recognized $2 and $2 provision for income taxes, respectively. The income tax rates vary from the federal and state statutory rates due to the valuation allowances on the Company’s net operating losses and foreign tax rate differences. The Company computes its