AEye Reports Third Quarter 2026 Results; Revenue Increases Approximately 10x Year-Over-Year and 2.5x Sequentially, Reflecting Accelerating Commercial Momentum

Matt Fisch, CEO of AEye

“Our success with leveraging our software-defined architecture into new commercial agreements across a wider range of addressable markets is reflected in our accelerating revenue growth”

Matt Fisch, CEO of AEye

“A growing number of customers are choosing AEye for demanding applications that require long-range detection, rugged hardware, and the ability to adapt sensing behavior as their requirements evolve.”

Matt Fisch, CEO of AEye

“Our differentiated architecture lets us address these needs across different markets without having to start over for each new application, which also helps us operate more efficiently, and increasingly with less capital required.”

Matt Fisch, CEO of AEye

“This key differentiator for AEye was evident in the third quarter as our product flexibility supported initial revenue contributions from lunar infrastructure development, continued defense orders, and our first revenue from STRATOS™.”

Matt Fisch, CEO of AEye

“We have a growing number of qualified leads entering our pipeline, a record number of customers integrating and validating our software-defined architecture, and we are translating this into a growing number of new commercial engagements.”

Matt Fisch, CEO of AEye

“We expect to continue converting our record pipeline into sustained commercial activity, leading to significant revenue growth anticipated in 2027.”

Matt Fisch, CEO of AEye

“Our visibility into this expected revenue ramp includes a combination of repeat product purchases, commercial programs, and new opportunities, supported by a go-to-market strategy designed to serve a growing number of high-growth markets.”

Conor Tierney, CFO of AEye

“Revenue grew approximately 10x year-over-year and 2.5x sequentially, marking AEye’s fifth consecutive quarter of sequential growth,”

Conor Tierney, CFO of AEye

“With Lunar Outpost ramping alongside repeat sensor orders, we expect the fourth quarter to be our first million dollar revenue quarter driven mainly by Apollo™ commercial programs, establishing a new expected quarterly baseline as we build toward 2027.”

Conor Tierney, CFO of AEye

“Gross margin improved 45 percentage points sequentially, from negative 80% to negative 35%, reflecting a richer revenue mix, lower product costs as our bill of materials comes down, and lower warranty reserves on improved Apollo™ return rates.”

Conor Tierney, CFO of AEye

“We are targeting an approximately 15% reduction in cash consumption in 2027, and with $63.1 million in cash and marketable securities and a virtually debt free balance sheet, we believe we have the capacity to support our customers’ programs through the ramp.”