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Investor Relations14 Oct 2025
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Cepton (CPTN) investor relations material
Cepton Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary7 Nov, 2024
Executive summary
Revenue for Q3 2024 was $0.5 million, down 86% year-over-year, mainly due to the GM series production award cancellation; net loss attributable to common stockholders was $11.8 million, a 5% improvement from Q3 2023.
Development revenue surged to $10.9 million for the nine months ended September 30, 2024, driven by a new engineering services contract with Koito.
Cepton entered into a merger agreement with Koito, expected to close in Q1 2025, with shareholders to receive $3.17 per share in cash.
Entered final stages of RFQ with a Top 10 global automotive OEM for long-range lidar and advanced near-range lidar development opportunities.
Cash and cash equivalents stood at $47.7 million as of September 30, 2024, with management expecting sufficient liquidity for at least the next twelve months.
Financial highlights
Total revenue for Q3 2024 was $0.5 million, down from $3.8 million in Q3 2023; nine-month revenue was $12.9 million, up 59% year-over-year due to higher development revenue.
Gross loss for Q3 2024 was $0.08 million, compared to a gross profit of $0.49 million in Q3 2023; nine-month gross profit was $6.7 million, up from $0.9 million.
Operating loss for Q3 2024 was $10.9 million, an 11% improvement year-over-year; nine-month operating loss was $23.0 million, a 45% improvement.
Non-GAAP net loss for Q3 2024 was $7.5 million; non-GAAP net loss attributable to common stockholders was $8.6 million ($0.53 per share).
Cash used in operations for the nine months ended September 30, 2024 was $8.7 million, a significant improvement from $30.5 million in the prior year period.
Outlook and guidance
Management expects the Koito merger to close in Q1 2025, subject to regulatory and shareholder approvals.
Current cash position is expected to cover liquidity needs and capital expenditures for at least the next twelve months.
Future revenue growth is anticipated from new series production awards and increased adoption of lidar in automotive and smart infrastructure markets.
Focus remains on executing strategy, deepening OEM partnerships, and driving lidar adoption across industries.
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Frequently asked questions
Cepton Inc. is a technology company specializing in the development of lidar-based solutions for various industries, including automotive, smart cities, and industrial applications. The company’s lidar technology enables precise 3D sensing, used for applications such as autonomous driving, advanced driver assistance systems (ADAS), and traffic monitoring. Cepton focuses on providing scalable and energy-efficient lidar systems to support the advancement of autonomous and connected technologies. The company is headquartered in San Jose, California, and its shares are listed on the NASDAQ.
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