LIDR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-11-06

• generating revenue from early-stage Non-Automotive markets, which represent substantially all of our near-term revenue and are characterized by small orders, lengthy evaluation cycles, and customer concentration that can cause significant quarterly fluctuations;

• maintaining our relationships with Tier 1 suppliers, including LITEON as our manufacturing partner, and, over the longer term, supporting their pursuit of Automotive design wins;

• performing under our Lunar Outpost subcontract for NASA’s Lunar Terrain Vehicle Services program, which includes demanding space-qualification requirements, NASA-dependent milestone payments, termination-for-convenience rights, and exclusivity restrictions;

• We anticipate growing demand for our ApolloTM platform, led in the near-term by Non-Automotive markets such as aerospace and defense, intelligent transportation systems, or ITS, railway, airport safety and security, perimeter monitoring, space mobility, transportation logistics, and sports analytics…

• Automotive programs typically require long durations for development, testing, and validation. If we fail to remain engaged with one or more Tier 1 automotive suppliers, whose scale, mass-production capabilities, and existing OEM relationships, which may include licensing arrangements, are important…

Text removed vs the prior filing · source: 10-Q · 2026-08-06

• maintaining and expanding our relationships with Tier 1 automotive suppliers to facilitate design wins with automotive OEMs;

• We anticipate growing demand for our ApolloTM platform across our two major markets, Automotive and Non-Automotive, and we believe this expected growth will enable us to capture market share across both the Automotive and Non-Automotive markets. We plan to pursue opportunities in advanced driver-ass…

• In the Automotive market for example, our growth and financial performance will be heavily influenced by our ability to successfully integrate into OEM programs that require years of development, testing, and validation. Because of the size and complexity of these OEM programs, having Tier 1 partner…

• During the first half of 2026, we experienced increased commercial traction that we believe marks an inflection point in our transition from development toward commercialization. Revenue was $303 for the six months ended June 30, 2026, up 252% from $86 in the six months ended June 30, 2025.

• In early 2024, we engaged LITEON as our Tier 1 automotive supplier and are actively working with LITEON to bring our product to market. We recently announced an expansion of this relationship and the creation of a dedicated production line for ApolloTM, with capacity to produce up to 60,000 units an…

Text added vs the prior filing · source: 10-Q · 2026-11-06

• Substantially all of our current revenue, and the revenue we expect to generate for at least the next several years, is derived from Non-Automotive markets, which are at an early stage of lidar adoption and are characterized by small initial orders, lengthy evaluation cycles, customer and program co…

• Our common stock has recently traded below the $1.00 per share minimum bid price required for continued listing on The Nasdaq Capital Market. If we are unable to maintain compliance with Nasdaq’s continued listing requirements, our common stock could be delisted, which would adversely affect its liq…

• Our subcontract with Lunar Outpost to supply lidar for the NASA Lunar Terrain Vehicle Services program exposes us to risks that are new to us, including demanding space-qualification requirements and extended timelines, milestones tied to NASA certification events that we do not control, dependence …

• Substantially all of our current revenue, and the revenue we expect to generate for at least the next several years, is derived from Non-Automotive markets, which are at an early stage of lidar adoption and are characterized by small initial orders, lengthy evaluation cycles, customer and program co…

• Although our Automotive strategy, including our relationships with LITEON and NVIDIA, remains an important part of our long-term plans, the Automotive market is characterized by extended development cycles, and we do not expect meaningful revenue from the Automotive market for the foreseeable future…

Text removed vs the prior filing · source: 10-Q · 2026-08-06

• We substantially rely on relationships with Tier 1 automotive suppliers and our business could be materially and adversely affected if we cannot establish or maintain relationships with one or more Tier 1 partners, or if we, through our relationship with various Tier 1 partners, are unable to obtain…

• Our business model for the Automotive market substantially relies on us maintaining a relationship with one or more Tier 1 automotive suppliers; our business could be materially and adversely affected if we are unable to establish or maintain a relationship with one or more Tier 1 automotive supplie…

• Our existing shelf registration statement expires in September 2026, and if our replacement shelf registration statement is not declared effective in a timely manner, or if we become subject to “baby shelf” limitations, our ability to access the capital markets and fund our operations could be mater…

• Our ability to raise capital efficiently depends substantially on maintaining an effective shelf registration statement on Form S-3. Our existing shelf registration statement is scheduled to expire on September 26, 2026, upon the third anniversary of its effective date. On May 19, 2026, we filed a r…

• Although we expect to request acceleration of the effective date of the replacement registration statement before our ability to use the existing registration statement lapses, we cannot assure you that the replacement registration statement will be declared effective on the timeline we anticipate, …