AEye, Inc. (NASDAQ:LIDR) Q3 2023 Earnings Call Transcript

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Kevin Garrigan: Yes. Hey, good afternoon, Matt and Connor, and thanks for taking my question. I was wondering if you can give us a little more color on the timeline for the 4Sight Flex. I think you noted in the press release it’s going to be available in 2024. So, just wondering on the timeline for shipment of samples and any other color you can kind of give?

Matt Fisch: Great. We get cut right to the chase on that, and good to hear from you, Kevin. Eight samples next year.

Kevin Garrigan: Okay, perfect. Can you give us any details on the manufacturing of the 4Sight Flex? Are you going to be using a Tier 1 partner such as Continental?

Matt Fisch: We plan to continue to use that model, Kevin. And look, I think one of the things that’s incredibly important to continue to scale in the automotive industry is to leverage existing supply chains. This is a really important point for us and our potential customers and our Tier 1 partner. It keeps the risk manageable and also allows us to leverage economy and scale through volumes. So very much think about reuse, high degree of reuse, but we’ve got some engineering improvements and whatnot going into this next generation of the [indiscernible].

Kevin Garrigan: Yep, got it. Okay. Yes, that makes a ton of sense. And then just lastly, are you guys seeing a lot of OEMs looking to integrate LiDAR systems behind the windshield instead of putting it on the grill of the roofline? And any specific reasons for that? I mean, is it just cheaper because you don’t have to redesign the car?

Matt Fisch: Yes, look, I think – I can tell you a bit of anecdotal data from my own trips and meetings with OEMs over the summer. Look, it’s kind of a mixed bag, and this is actually one of the reasons why we announced the 4Sight Flex here today, because we are seeing the need. Different OEMs, different vehicle lines make different design choices. Some are okay with the bump on the roof. Others want to tuck it behind the grill, and you can do that, say, with cars that are higher up off the ground. And there are a number of technical advantages to have something behind the windshield. It’s easier to manage thermally in a number of ways, but it really depends. This is one of the beauties of the automotive industry. There’s so much variety, and this is what drove us to build a product that’s a lot more flexible and being able to integrate into windshield and other places as well.

Kevin Garrigan: Okay, perfect. That’s all from me. Thanks guys and congrats on the progress.

Conor Tierney: Thanks.

Operator: Thank you. I’m showing no further questions at this time. I’d now like to turn it back to Matt Fisch for closing remarks.

Matt Fisch: Thank you for joining us today, and we look forward to updating you in the coming months. And please do not to hesitate to reach out to us with any questions. Take care.

Operator: Thank you for your participation in today’s conference. This concludes the program. You may now disconnect.

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