Cepton, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
November 07, 2024 at 04:12 pm EST
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Cepton, Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 0.466 million compared to USD 3.8 million a year ago. Revenue was USD 0.547 million compared to USD 3.83 million a year ago. Net loss was USD 10.64 million compared to USD 11.29 million a year ago. Basic loss per share from continuing operations was USD 0.73 compared to USD 0.78 a year ago. Diluted loss per share from continuing operations was USD 0.73 compared to USD 0.78 a year ago.
For the nine months, sales was USD 1.98 million compared to USD 7.81 million a year ago. Revenue was USD 12.92 million compared to USD 8.11 million a year ago. Net loss was USD 17.29 million compared to USD 40.23 million a year ago. Basic loss per share from continuing operations was USD 1.29 compared to USD 2.74 a year ago. Diluted loss per share from continuing operations was USD 1.29 compared to USD 2.74 a year ago.
Cepton, Inc. is an innovator of light detection and ranging (lidar)-based solutions for automotive (ADAS/AV), smart cities, smart spaces, and smart industrial applications. It offers near-range lidars, long-range lidars and ultra-long-range lidars, automotive software and smart lidar systems that include its perception software. Its solutions include industrial and automotive grade lidars. For mass market automotive advanced driver assistance systems (ADAS) applications, it also sells components and license technologies to tier 1 suppliers to enable them to manufacture lidars in high volume and sell to original equipment manufacturers customers. Its customers can enable safety and autonomy applications across a range of end-markets, including its primary market. It offers a comprehensive lidar solutions platform comprised of both hardware and software. It also offers intelligent, smart lidar perception solutions by combining lidar sensors with its advanced Helius perception software.
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