Aeva Technologies, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 06, 2024 at 02:35 am IST
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Aeva Technologies, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1.61 million compared to USD 0.188 million a year ago. Net loss was USD 44.97 million compared to USD 42.67 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to USD 1 a year ago.
For the full year, sales was USD 4.31 million compared to USD 4.19 million a year ago. Net loss was USD 149.33 million compared to USD 147.31 million a year ago. Basic loss per share from continuing operations was USD 3.3 compared to USD 3.4 a year ago.
Aeva Technologies, Inc. is engaged in the design, manufacturing and sale of LiDAR sensing systems and related perception and autonomy-enabling software solutions serving customers in automotive, industrial, and other markets. The Companyâs sensing and perception technology integrates all key LiDAR components onto a silicon photonics chip in a compact module. Its 4D LiDAR sensors detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions. The Company, through its frequency modulated continuous wave (FMCW) sensing technology, enables the adoption of LiDAR across broad applications. Its product, Aeries II is a 4D LiDAR solution, consisting of its 4D LiDAR sensing system with embedded software designed for automotive grade production across passenger car, trucking, and mobility applications. Atlas is its FMCW 4D LiDAR with simultaneous velocity and range detection targeted for the automotive market.