Company: LIDRW
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001437749-25-004906
Chunk: 827

Company: AEye, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 827
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 on its headquarters. In  August 2024, the 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, Leases).

    4.  INVENTORIES 

   Inventory, net of write-downs, as of  December 31, 2024 and 2023 were as follows (in thousands):

       As of December 31,  
   2024    2023  
 Raw materials  $158  $405 
 Work in-process   —   159 
 Finished goods   18   19 
 Total inventory, net  $176  $583 

   The Company also had $209 and $208 of noncurrent inventory (raw materials), net of write-downs, classified within other noncurrent assets on the consolidated balance sheet as of  December 31, 2024 and  December 31, 2023, respectively.

    5.  PREPAID AND OTHER CURRENT ASSETS 

   Prepaid and other current assets as of  December 31, 2024 and 2023 were as follows (in thousands):

       As of December 31,  
   2024    2023  
 Prepaid expenses  $966  $2,386 
 Advances to suppliers   —   79 
 Receivable for issuance of common stock   1,679   — 
 Other   61   52 
 Total prepaid and other current assets  $2,706  $2,517 

   The Company's advances to suppliers as of  December 31, 2024 and 2023 were written down by $1,041 and $1,385, respectively, associated with the winding down of its legacy Non-Automotive product as part of its revised strategic plan in 2023. See Note 18, Restructuring, for further details.

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    6.  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. 
    
   Some of the Company's leases include options to renew, with renewal terms that, if exercised by the Company, extend the lease term from two to five years. The exercise of these