AEye (LIDR) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached $506K, up ~10x YoY and 2.5x QoQ, marking a fifth consecutive quarter of sequential growth.

• Revenue-generating customers reached 32, up 28% QoQ, with 200+ active technical engagements feeding the commercial pipeline.

• Commercialization is moving from technical evaluations toward Phase 2 contracts; positive margins and scaled deployments remain ahead.

Financial highlights

• Q3 revenue was $506K vs. $50K YoY; 9M revenue was $809K vs. $136K, up 495%.

• Q3 GAAP operating expenses were $11.1M; GAAP net loss was $11.2M, or $0.24/share, vs. $10.0M and $0.22/share in Q2.

• Q3 non-GAAP net loss was $7.2M, or $0.15/share, vs. $7.6M and $0.17/share in Q2.

• Q3 gross loss was $178K and gross margin was negative 35%, improving 45 percentage points QoQ on revenue mix, lower product costs and lower warranty reserves.

• Q3 cash consumption, net of financing costs, was $8.3M; cash and marketable securities were $63.1M at Sept. 30, 2026.

Outlook and guidance

• Q4 revenue is guided at ~$1M, roughly double Q3, with Apollo commercial programs expected to establish a new quarterly baseline.

• FY 2026 cash consumption is expected to be $35M, including ~$5M in working capital; the 2027 target is ~15% below FY26.

• Management expects revenue to build in 2027 on repeat purchases, commercial programs and new opportunities; several POC conversions are expected over the next 6–9 months.

• Current liquidity and virtually no debt are expected to support operations and multi-year programs into 2028.