# EDGAR Filing Document

**Accession Number:** 0001818644
**File Stem:** 0001213900-26-028340
**Filing Date:** 2026-3
**Character Count:** 30104
**Document Hash:** 195b1b50603766930ce97cb432562345
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-028340.hdr.sgml**: 20260316

**ACCESSION NUMBER**: 0001213900-26-028340

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260316

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260316

**DATE AS OF CHANGE**: 20260316

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AEye, Inc.
- **CENTRAL INDEX KEY:** 0001818644
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 371827430
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39699
- **FILM NUMBER:** 26757340

**BUSINESS ADDRESS:**
- **STREET 1:** 4670 WILLOW ROAD, SUITE 125
- **CITY:** PLEASANTON
- **STATE:** CA
- **ZIP:** 94588
- **BUSINESS PHONE:** 925-400-4366

**MAIL ADDRESS:**
- **STREET 1:** 4670 WILLOW ROAD, SUITE 125
- **CITY:** PLEASANTON
- **STATE:** CA
- **ZIP:** 94588

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CF Finance Acquisition Corp. III
- **DATE OF NAME CHANGE:** 20200717

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **March 16, 2026**

**AEYE, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-39699** | **37-1827430** |
| (State or other jurisdiction | (Commission File Number) | (IRS Employer |
| of incorporation) |  | Identification No.) |

---

---

| | |
|:---|:---|
| **4670 Willow Road, Suite 125, Pleasanton, California** | **94588** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(925) 400-4366**

  <br> (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.0001 per share | LIDR | The Nasdaq Stock Market LLC |
| Warrants to receive one share of Common Stock | LIDRW | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 **Item 2.02 Results of Operations and Financial Condition.**

On March 16, 2026, AEye, Inc. (the "Company") issued a press release announcing its financial results for the year and quarter ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information provided in Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

 **Item 9.01. Financial Statement and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

<u>Exhibit Number</u> <u>Description</u> <br> 99.1 [Press release dated March 16, 2026.](ea028166301ex99-1.htm) <br> 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **AEye, Inc.** | **AEye, Inc.** |
| Dated: March 16, 2026 |  |  |
|  | By: | /s/ Andrew S. Hughes |
|  |  | Andrew S. Hughes |
|  |  | Executive Vice President, General Counsel & <br> Corporate Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

**AEye Reports Fourth Quarter and Full-Year 2025 Results; Strengthened Foundation for Commercial Growth**

 

*Revenue Doubled in Q4 over Q3; 40% Commercial Pipeline Expansion; 33% Increase in Customer Count*

 

*Joining NVIDIA Halos AI Systems Inspection Lab; Demonstrated Apollo™ Lidar with NVIDIA DRIVE AGX Thor™*

 

*Operational Runway Into 2028*

**PLEASANTON, Calif. – March 16, 2026** – AEye, Inc. (Nasdaq: LIDR) (the "Company"), a global leader in software-defined, high-performance lidar solutions, today announced financial results for the fourth quarter and full year ended December 31, 2025.

**<u>Business Highlights</u>**

● **NVIDIA Ecosystem Maturity:** Joining NVIDIA Halos AI Systems Inspection Lab to bolster automotive product readiness and demonstrated Apollo™ lidar with the NVIDIA DRIVE AGX Thor™ platform, the future centralized brain of NVIDIA-equipped autonomous vehicles.

● **Commercial Inflection**: AEye increased its commercial momentum, with 16 active customers that have taken revenue-generating shipments -- a 33% increase since the Company reported Q3 results in November 2025.

● **Aerospace & Defense Traction:** Repeat business with an existing customer, multiple new requests for quotations ("RFQs"), and a new distribution partnership that expands AEye's reach in this sector.

● **ITS & APAC Expansion:** Completed a successful proof of concept ("POC") in Australia that has progressed into the next phase of commercial discussions, while formalizing multiple intersection deployments across the U.S.; also signed a letter of intent ("LOI") with a regional partner focused on unlocking opportunities in Korea and the broader APAC region.

● **Partner Ecosystem:** The Company expanded its OPTIS™ ecosystem, turning technological opportunities into actionable revenue pipelines through strategic partnerships, most recently adding Vueron for dynamic perception required by moving vehicles such as rail and trucks -- complementing existing partners Flasheye, Blue-Band, and Black Sesame Technologies.

● **Technological Leadership:** At CES 2026, introduced STRATOS™, a third-generation sensor featuring a 1.5-kilometer detection range and resolution greater than twice that of AEye's flagship Apollo™ sensor, packaged in a smartphone-sized form factor which, like Apollo™, can fit behind a windshield.

**<u>Management Commentary</u>**

"Throughout 2025 we made consistent progress towards industrial scaling and active commercial execution," said Matt Fisch, CEO of AEye. "We are now shipping products to global defense leaders, securing significant opportunities in high-speed rail, and strengthening our commercial pipeline across automotive, including commercial vehicles, smart infrastructure, mobility, and intelligent transportation systems. We believe our technology and product capabilities provide AEye with unique optionality, as we can offer best-in-industry long-range performance while also addressing the passenger vehicle market by meeting highway-speed requirements through the windshield. At the same time, we expect our capital-light manufacturing approach paired with our software-defined architecture will prove to offer the most viable path to sustainable commercialization."

Fisch continued, "We ended 2025 with consistent momentum in our technology development, strong partnerships, and a commercial pipeline that is converting at an accelerated pace. With the launch of STRATOS™, our 1.5-kilometer ultra-long-range sensor, and our demonstrations on next-generation platforms like NVIDIA DRIVE AGX Thor™, we are delivering on our vision for the future of physical AI, which is estimated to represent a $5 billion market today and, according to a recent analysis by Barclays, a potential trillion-dollar opportunity by 2035. Moving into 2026, we are beginning to accelerate execution on our growth strategy, as we expect our technology lead will continue to translate into firm volume commitments and a durable revenue ramp."

**<u>Financial Highlights</u>**

● Q4 2025 revenue was approximately $100,000, a 94% quarterly sequential increase. Full-year 2025 revenue totaled approximately $230,000, up 15% year over year.

● Cash burn excluding net financing proceeds in Q4 2025 was $7.5 million, and the cash burn for the 2025 full year period was $29.0 million.

● GAAP net loss for Q4 2025 was $(7.3) million, or $(0.17) per share. GAAP net loss for the 2025 full year period was $(34.0) million, or $(1.47) per share.

● Non-GAAP net loss for Q4 2025 was $(6.8) million, or $(0.15) per share. Non-GAAP net loss for the 2025 full year period was $(24.4) million, or $(1.05) per share.

● Ended 2025 with $86.5 million in cash, cash equivalents, and marketable securities, providing operational runway into 2028, based on our 2026 cash burn outlook and assuming comparable cash burn in subsequent years.

"We have an attractive level of resources that positions us to execute on the multi-year production cycles demanded by leading automotive OEMs and high-performance industrial partners," said Conor Tierney, CFO of AEye. "Today, AEye stands as a resilient leader in a lidar industry that is undergoing intense consolidation. Our capital-light model is a key point of differentiation in the industry, as it optimizes our available capital while still providing us with significant unit production capabilities to meet an uptick in expected demand later this year."

**<u>2026 Cash Burn Outlook</u>**

The Company expects its cash burn rate for the 2026 full year period to be in a range of $30 million to $35 million, inclusive of approximately $5 million in working capital.

**<u>Conference Call and Webcast Details</u>**

AEye management will webcast its investor conference call today, March 16, 2026, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these results. AEye CEO Matt Fisch and CFO Conor Tierney will host the call, followed by a question-and-answer session.

The webcast and accompanying slides will be accessible via the company's website at https://investors.aeye.ai/.

**<u>Access is also available via:</u>**

Webcast: https://edge.media-server.com/mmc/p/zzk8sudu/

**<u>About AEye</u>**

AEye offers a suite of unique software-defined lidar solutions that address a wide range of real-world needs including advanced driver-assistance, vehicle autonomy, smart infrastructure, security, defense, and logistics applications. AEye's flagship product, Apollo™, has been widely recognized for its small form factor and its ability to detect objects at up to one kilometer. In addition to Apollo™, AEye also offers STRATOS™ with the ability to detect objects at up to one-and-a-half kilometers as well as a full-stack solution through its OPTIS™ platform. OPTIS™ provides a complete system that captures a high-resolution 3D image of the world, interprets it, and provides direction to act upon what it sees in real-time.

**Non-GAAP Financial Measures**

The non-GAAP measures provided in this press release should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with generally accepted accounting principles (GAAP) in the United States. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. AEye considers these non-GAAP financial measures to be important because they provide additional insight into the Company's on-going performance. The Company provides this information to help investors evaluate the results of the Company's on-going operations and to enable more meaningful and consistent period-to-period comparisons. Non-GAAP financial measures are presented only as supplemental information to understand the Company's operating results. The non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP.

This press release includes non-GAAP financial measures, including:

● Non-GAAP net loss which is defined as GAAP net loss plus stock-based compensation, plus stock issuance and debt issuance costs, less change in fair value of convertible note and warrant liabilities, plus expenses related to contested proxy, plus loss (gain) on termination of operating lease, net; and

● Adjusted EBITDA, defined as non-GAAP net loss plus depreciation and amortization expense, less interest income and other, less interest expense and other, plus provision (benefit) for income tax.

**Forward-Looking Statements**

Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "continue," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "predict," "plan," "may," "should," "will," "would," "potential," "seem," "seek," "outlook," and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward looking statements included in this press release include, without limitation, statements about AEye's operational runway into 2028, the translation of commercial momentum into revenue, and the benefits and advantages of AEye's products and technologies, among others. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are very difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risks that AEye's operational runway may not extend into 2028 due to unforeseen expenses or otherwise; (ii) the risks that AEye's tenure in the NVIDIA Halos AI Systems Inspection Lab may be shorter than anticipated and not bolster automotive product readiness to the extent or in the time frame anticipated, or at all; (iii) the risks that existing customers may not continue to make repeat purchases nor may new RFQs, completed POCs, nor signed LOIs result in revenue to the extent or in the time frame anticipated, or at all; (iv) the risks that the opportunities that may be created through strategic partnerships may not result in actionable revenue pipelines to the extent or in the time frame anticipated, or at all; (v) the risks that AEye's technology and product capabilities may not provide AEye with unique optionality to the extent or in the time frame anticipated, or at all; (vi) the risks that AEye's capital-light manufacturing approach and software-defined architecture may not result in sustainable commercialization to the extent or in the time frame anticipated, or at all; (vii) the risks that AEye's commercial pipeline may not covert at an accelerated pace to the extent or in the time frame anticipated, or at all; (viii) the risks that AEye may be unable to deliver on its vision for the future of physical AI to the extent or in the time frame anticipated, or at all; (ix) the risks that the physical AI market may not be at $5 billion today nor reach a trillion dollar market size by 2035, or at all; (x) the risks that AEye's technology lead may not continue nor translate into firm volume commitments nor a durable revenue ramp to the extent or in the time frame anticipated, or at all; (xi) the risks that AEye's level of resources may not position the company to execute on multi-year production cycles to the extent or in the time frame anticipated, or at all; (xii) the risks that our capital-light model may not remain a point of differentiation to the extent or for the time frame anticipated, or at all; (xiii) the risks that the uptick in expected demand later this year may not occur to the extent or in the time frame anticipated, or at all; (xiv) the risks that the cash burn for the full year of 2026 may exceed $35 million due to unanticipated expenses associated with the investments required to ramp AEye's products, or otherwise; (xv) the risks that market conditions may create delays in the demand for commercial lidar products beyond AEye's expectations, if at all; (xvi) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (xvii) the risks that AEye's products may not meet the diverse range of performance and functional requirements of target markets and customers; (xviii) the risks that AEye's products may not function as anticipated by AEye, or by target markets and customers; (xix) the risks that AEye may not be in a position to adequately or timely address either the near or long-term opportunities that may or may not exist in the evolving autonomous transportation industry; (xx) the risks that laws and regulations are adopted impacting the use of lidar that AEye is unable to comply with, in whole or in part; (xxi) the risks associated with changes in competitive and regulated industries in which AEye operates, variations in operating performance across competitors, and changes in laws and regulations affecting AEye's business; (xxii) the risks that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xxiii) the risks of economic downturns and a changing regulatory landscape in the highly competitive and evolving industry in which AEye operates. These risks and uncertainties may be amplified by current or future global conflicts and current and potential trade restrictions, trade tensions, and tariffs, all of which continue to cause economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the periodic report that AEye has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

Investors are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye gives no assurance that AEye will achieve any of its expectations.

**AEYE, INC.<br> Consolidated Balance Sheets<br> (In thousands)<br> (Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **As of <br> December 31,** | **As of <br> December 31,** |
|  | **2025** | **2024** |
| **ASSETS** |  |  |
| **Current Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $43356 | $10266 |
| &nbsp;&nbsp;&nbsp;Marketable securities | 43104 | 12012 |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | 77 | 11 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 1015 | 176 |
| &nbsp;&nbsp;&nbsp;Prepaid and other current assets | 2081 | 2706 |
| Total current assets | 89633 | 25171 |
| Right-of-use assets | 441 | 652 |
| Property and equipment, net | 577 | 605 |
| Other noncurrent assets | 242 | 692 |
| **Total assets** | $90893 | $27120 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **Current Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $3615 | $3598 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 4957 | 7709 |
| Total current liabilities | 8572 | 11307 |
| Operating lease liabilities, noncurrent | 235 | 479 |
| Convertible note, noncurrent | 146 | 146 |
| Other noncurrent liabilities | 598 | 64 |
| **Total liabilities** | 9551 | 11996 |
| **Stockholders' Equity:** |  |  |
| Preferred stock |  |  |
| Common stock | 4 | 1 |
| Additional paid-in capital | 488361 | 388213 |
| Accumulated other comprehensive income | 30 | 5 |
| Accumulated deficit | (407053) | (373095) |
| **Total stockholders' equity** | 81342 | 15124 |
| **Total liabilities and stockholders' equity** | $90893 | $27120 |

---

**AEYE, INC.<br> Consolidated Statements of Operations<br> (In thousands, except share amounts and per share data)<br> (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended December 31,** | **Three months ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Revenue | $97 | $46 | $233 | $202 |
| Cost of revenue | 247 | 49 | 554 | 778 |
| Gross loss | (150) | (3) | (321) | (576) |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | 3716 | 4252 | 13937 | 16389 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 931 | 69 | 2546 | 551 |
| &nbsp;&nbsp;&nbsp;General and administrative | 3604 | 4671 | 14927 | 18312 |
| Total operating expenses | 8251 | 8992 | 31410 | 35252 |
| Loss from operations | (8401) | (8995) | (31731) | (35828) |
| Other income (expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Change in fair value of convertible note and warrant liabilities | 228 | 4 | (1895) |  |
| &nbsp;&nbsp;&nbsp;Interest income and other | 734 | 143 | 1991 | 799 |
| &nbsp;&nbsp;&nbsp;Interest expense and other | 106 | 296 | (2312) | (433) |
| Total other income (expense), net | 1068 | 443 | (2216) | 366 |
| Loss before income tax | (7333) | (8552) | (33947) | (35462) |
| Provision (benefit) for income tax | 9 | (4) | 11 | (2) |
| Net loss | $(7342) | $(8548) | $(33958) | $(35460) |
| Per Share Data: |  |  |  |  |
| Net loss per common share (basic and diluted) | $(0.17) | $(0.93) | $(1.47) | $(4.89) |
| Weighted average common shares outstanding (basic and diluted) | 44454223 | 9144094 | 23128082 | 7253683 |

---

**AEYE, INC.<br> Consolidated Statements of Cash Flows<br> (In thousands)<br> (Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2024** |
| **Cash flows from operating activities:** |  |  |
| Net loss | $(33958) | $(35460) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization | 155 | 129 |
| &nbsp;&nbsp;&nbsp;Gain on sale of property and equipment, net |  | (12) |
| &nbsp;&nbsp;&nbsp;Noncash lease expense relating to operating lease right-of-use assets | 211 | 956 |
| &nbsp;&nbsp;&nbsp;Gain on termination of operating lease, net | (1014) | (491) |
| &nbsp;&nbsp;&nbsp;Common stock purchase agreement costs | 337 | 1124 |
| &nbsp;&nbsp;&nbsp;Debt issuance costs | 2020 |  |
| &nbsp;&nbsp;&nbsp;Gain on extinguishment of warrant | (64) |  |
| &nbsp;&nbsp;&nbsp;Inventory write-downs, net of scrapped inventory | 48 | 161 |
| &nbsp;&nbsp;&nbsp;Change in fair value of convertible note and warrant liabilities | 1895 |  |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 5522 | 9047 |
| &nbsp;&nbsp;&nbsp;Amortization of premiums and accretion of discounts on marketable securities, net of change in accrued interest | (378) | (611) |
| &nbsp;&nbsp;&nbsp;Expected credit losses, net of write-off | 2 | 35 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable, net | (68) | 85 |
| &nbsp;&nbsp;&nbsp;Inventories, current and noncurrent, net | (678) | 245 |
| &nbsp;&nbsp;&nbsp;Prepaid and other current assets | (1054) | 1490 |
| &nbsp;&nbsp;&nbsp;Other noncurrent assets | 241 | 215 |
| &nbsp;&nbsp;&nbsp;Accounts payable | 9 | 156 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | (767) | (2389) |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities | (236) | (955) |
| &nbsp;&nbsp;&nbsp;Other noncurrent liabilities | - | (345) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (27777) | (26620) |
| **Cash flows from investing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Purchases of property and equipment | (109) | (486) |
| &nbsp;&nbsp;&nbsp;Proceeds from sale of property and equipment |  | 45 |
| &nbsp;&nbsp;&nbsp;Purchases of marketable securities | (53768) | (24241) |
| &nbsp;&nbsp;&nbsp;Proceeds from redemptions and maturities of marketable securities | 23079 | 32426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | (30798) | 7744 |
| **Cash flows from financing activities:** |  |  |
| &nbsp;&nbsp;&nbsp;Proceeds from exercise of stock options |  | 134 |
| &nbsp;&nbsp;&nbsp;Proceeds from the issuance of convertible notes | 2950 | 146 |
| &nbsp;&nbsp;&nbsp;Payments for convertible note redemptions | (989) |  |
| &nbsp;&nbsp;&nbsp;Transaction costs related to issuance of convertible note | (658) |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock under the Common Stock Purchase Agreements | 90961 | 11080 |
| &nbsp;&nbsp;&nbsp;Stock issuance costs related to the Common Stock Purchase Agreements | (1835) | (1232) |
| &nbsp;&nbsp;&nbsp;Taxes paid related to the net share settlement of equity awards | (643) | (161) |
| &nbsp;&nbsp;&nbsp;Proceeds from exercise of warrant | 1788 |  |
| &nbsp;&nbsp;&nbsp;Proceeds from issuance of common stock through the Employee Stock Purchase Plan | 91 | 93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 91665 | 10060 |
| **Net increase (decrease) in cash, cash equivalents and restricted cash** | 33090 | (8816) |
| Cash, cash equivalents and restricted cash at beginning of period | 10266 | 19082 |
| **Cash and cash equivalents at end of period** | $43356 | $10266 |

---

**AEYE, INC.<br> Reconciliation of GAAP to Non-GAAP Financial Measures<br> (In thousands, except share amounts and per share data)<br> (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended December 31,** | **Three months ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **GAAP net loss** | $(7342) | $(8548) | $(33958) | $(35460) |
| Non-GAAP adjustments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 790 | 2045 | 5522 | 9047 |
| &nbsp;&nbsp;&nbsp;Stock issuance and debt issuance costs | 12 | (12) | 2357 | 1124 |
| &nbsp;&nbsp;&nbsp;Change in fair value of convertible note and warrant liabilities | (228) | (4) | 1895 |  |
| &nbsp;&nbsp;&nbsp;Expenses related to contested proxy |  |  | 839 |  |
| &nbsp;&nbsp;&nbsp;Loss (gain) on termination of operating lease, net | - | 189 | (1014) | (491) |
| Non-GAAP net loss | (6768) | (6330) | (24359) | (25780) |
| &nbsp;&nbsp;&nbsp;Depreciation and amortization expense | 42 | 49 | 155 | 129 |
| &nbsp;&nbsp;&nbsp;Interest income and other | (734) | (143) | (1991) | (799) |
| &nbsp;&nbsp;&nbsp;Interest expense and other | (118) | (284) | (45) | (691) |
| &nbsp;&nbsp;&nbsp;Provision (benefit) for income tax | 9 | (4) | 11 | (2) |
| **Adjusted EBITDA** | $(7569) | $(6712) | $(26229) | $(27143) |
| **GAAP net loss per share attributable to common stockholders:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic and diluted | $(0.17) | $(0.93) | $(1.47) | $(4.89) |
| **Non-GAAP net loss per share attributable to common stockholders:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic and diluted | $(0.15) | $(0.69) | $(1.05) | $(3.55) |
| **Shares used in computing GAAP net loss per share attributable to common stockholders:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic and diluted | 44454223 | 9144094 | 23128082 | 7253683 |
| **Shares used in computing Non-GAAP net loss per share attributable to common stockholders:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic and diluted | 44454223 | 9144094 | 23128082 | 7253683 |

---

**<u>Contacts</u>**

**Investor Relations** 

AEye, Inc. Investor Relations

info@aeye.ai

925-400-4366

Keaton Olsen

lidr@allianceadvisors.com

**Media Relations**

Alliance Advisors IR

Fatema Bhabrawala

fbhabrawala@allianceadvisors.com

647-620-5002