Velodyne Reports Q3 2020 Results

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BusinessWire: As a public company, Velodyne reports its quarterly results, giving a good food for thought about LiDAR market as a whole:

  • Revenue: Total revenue of $32.1M represents a 137% increase year-over-year.
  • Units and ASPs: We shipped 2,235 sensor units with a ASP of approximately $5,600.
  • Gross Profit: GAAP and non-GAAP gross profit totaled $15.0M. Previous public guidance reflected a third quarter benefit from a one-time $11M stocking fee, which positively impacted gross profit.
  • Net Loss: GAAP net loss was $5.3M and non-GAAP net loss was $9.1M.
  • Liquidity: Cash of $298M was on the balance sheet at the end of the third quarter.
  • For the full year 2020, we expect total revenue of approximately $101M, as previously forecasted.
  • For the full year, GAAP operating loss is expected to total between $208M and $205M.

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