Aeva Technologies Announces Third Quarter 2024 Results and Strategic Milestones

Aeva Technologies has announced its third quarter 2024 results, highlighting significant milestones and partnerships in the field of LiDAR sensing systems and perception and autonomy support software solutions.

Key Highlights

• Aeva has secured a major production contract with The Indoor Lab for deployment in U.S. airports and other locations.
• The company has been selected as a partner for the autonomous vehicle verification program by a major European OEM and is in the process of RFQ for vehicle programs from the top 10 global OEMs.
• In partnership with Torque Robotics and Daimler Trucks, Aeva is using its 4D LiDAR technology to enable fully driverless operation on highways.
• Aeva has advanced first shipments of the Aeva Atlas to meet growing demand for automotive and industrial applications.
• As of September 30, 2024, the company had cash, cash equivalents, and marketable securities of $134.8 million, with third quarter 2024 revenue of $2.3 million.

About Aeva Technologies

Aeva Technologies is a leading provider of LiDAR sensing systems and related perception and autonomy support software solutions. The company serves a variety of applications, including autonomous driving, industrial robotics, consumer electronics, consumer health, security, and other fields.

Aeva supports the adoption of LiDAR for various applications through its frequency-modulated continuous wave (FMCW) sensing technology.