Cepton Q1 2024 revenue $1.9M, up 31% YoY; secures new series production award with global OEM

Cepton, Inc.

2024-Q1 EPS reported -$0.43 revenue$1,946,000

Revenue $1.9M (+31% YoY); GAAP net loss $6.8M ($0.43/share); Non-GAAP net loss $8.3M ($0.52/share).
Secured new series production award for near-range lidar with global OEM via Koito; signed ~$10M engineering contract.
Recorded $4.0M gain from OEM project cancellation cost recovery; cash payment received.
FY2024 revenue outlook $15-25M; operating expenses expected below $50M.
Achieved B sample for Cepton Ultra lidar with smallest form factor; launched StudioViz simulation platform.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cepton, Inc. reported the first quarter 2024 ended March 31, 2024 results: revenue $1.9 million, net income $(6.8) million, or $(0.43) per share, basic and diluted, EPS $(0.43) per share, basic and diluted. Guidance reaffirmed.

Period: the first quarter 2024 ended March 31, 2024
Revenue: $1.9 million
Net income: $(6.8) million, or $(0.43) per share, basic and diluted
EPS: $(0.43) per share, basic and diluted
Guidance: reaffirmed
Result: reported results

Exact text from the filing

cloud simulation to expedite lidar-based ADAS and AV development at minimized physical implementation costs. Financial Highlights Revenue • First quarter 2024 total revenue was $1.9 million, consisting of $1.1 million product revenue and $0.8 million development revenue • First quarter 2024 total revenue increase by 31% compared to $1.5 million in the prior year

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Source: SEC EDGAR

accession 0001498233-24-000026

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