Slides
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A.EYE Second Quarter 2026 Earnings TM AUGUST 6 , 2026 Matt Fisch | CEO Conor Tierney | CFO Nasdaq LIDR
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Disclaimer Forward-Looking Statements This presentation of AEye, Inc. (“AEye” or the “Company”) includes statements that are not historical facts, but rather are forward-looking statements within the meaning of the federal securities laws, including safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include, but are not limited to, the size and scope of the market opportunity, projected financial information, projections regarding the accessibility to the various market opportunities, statements regarding relationships with customers and suppliers and the implications of those relationships, and the scalability of the business model. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this presentation. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ because of the underlying assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this presentation, including, but not limited to: the risks that the cash consumption for the full year 2026 may exceed $35 million due to unanticipated expenses associated with the investments required to ramp AEye’s products, or otherwise; the risks that AEye’s agreement with Alive3D may not result in commercial deployments or continued revenue to the extent or in the time frame anticipated, or at all; the risks that AEye’s record levels of commercial engagement, including growth in customers, engagements, and quotes, may not convert into revenue, and that existing customers may not continue to make repeat purchases, to the extent or in the time frame anticipated, or at all; the risks that the validation of Apollo on the NVIDIA DRIVE AGX Thor platform and AEye’s participation in the NVIDIA DRIVE Hyperion ecosystem may not result in design wins or commercial opportunities to the extent or in the time frame anticipated, or at all; the risks that orders from AEye’s lead defense customer may not continue and that evaluations of Apollo for UAV, UGV, and counter-UAS applications may not result in orders to the extent or in the time frame anticipated, or at all; the risks that AEye may not realize the benefits anticipated from the partnership with SynTech, including the continued expansion of Apollo’s international reach and the expansion of AEye’s addressable market to include international defense and aviation markets, to the extent or in the time frame anticipated, or at all; the risks that the multiple OEM Level 3 and Level 4 evaluations underway, and the L3 and L4 roadmaps being reactivated by various OEMs, may not result in the issuance of RFIs or RFQs, commercial agreements, or design wins to the extent or in the time frame anticipated, or at all; the risks that the memorandum of understanding with MoveAWheeL and related evaluations may not result in commercial agreements to the extent or in the time frame anticipated, or at all; the risks that the multiple autonomous trucking company programs underway may not result in successful evaluations nor commercial sales to the extent or in the time frame anticipated, or at all; the risks that OPTIS deployments, including the live smart intersection in the Bay Area and installations in and around Detroit, may not remain operational or be successful and may not result in additional commercial deployments to the extent or in the time frame anticipated, or at all; the risks that the commercial discussions with customers in Australia, Korea, and China may not advance to the extent or in the time frame anticipated, or at all; the risks that AEye’s tenure in the NVIDIA Halos AI Systems Inspection Lab may be shorter than anticipated and not bolster automotive product readiness to the extent or in the time frame anticipated, or at all; the risks that AEye’s manufacturing partnership with LITEON may not create an industry-leading, globally diversified supply chain that is able to navigate geopolitical risk and shifting trade policies to the extent or in the time frame anticipated, or at all; the risks that new technical engagements, inbound RFIs, and POC activity may not continue to the extent or in the time frame anticipated, or at all; the risks that the strong pipeline AEye is building may not result in commercial sales to the extent or in the time frame anticipated, or at all; the risks that the projection by Barclays that the market opportunity for physical AI may reach one trillion dollars by 2035 may not occur to the extent or in the time frame anticipated, or at all; the risk that AEye’s software-defined architecture may not position AEye as core enabling layer of the physical AI ecosystem, and may not meet demand from new lidar applications, to the extent or in the time frame anticipated, or at all; the risks that STRATOS may not achieve its anticipated detection range or other performance specifications, or achieve commercialization or market acceptance, to the extent or in the time frame anticipated, or at all; the risks that Apollo’s best-in-class detection range when operating behind a windshield may not be a decisive differentiator for AEye, even as OEMs reengage and L3 and L4 programs are beginning to expand, to the extent or in the time frame anticipated, or at all; the risks that engagements may not result in deployments to the extent or in the time frame anticipated, or at all; the risks that the transition in how AEye’s revenue is generated, from paid evaluations toward commercial agreements, may not continue, that repeat orders may not remain a feature of AEye’s business, and that contract development engagements may not remain a source of revenue, in each case to the extent or in the time frame anticipated, or at all; the risks that AEye’s revenue growth may not continue and that AEye may be unable to advance deployments to commercial sales or build a durable revenue ramp to the extent or in the time frame anticipated, or at all; the risks that AEye’s cash consumption may increase due to unforeseen circumstances and therefore AEye’s balance sheet may not be able to provide the runway to execute multi-year commercial programs well into 2028 to the extent anticipated, or at all; the size of the market opportunity available to AEye; the ability of AEye to participate and gain market share, regardless of the size or timing of the market opportunity; the market acceptance of the differentiated technology offered by AEye; the ability of customers and strategic partners to effectively implement the technology offered by AEye; the ability of the management team to successfully bring AEye’s technology to market; risks that lidar adoption is slower than anticipated or fails to occur at all; the risks that AEye is unable to establish or maintain a relationship with one or more automotive Tier 1 suppliers; the risk that any or all of AEye’s other current or future strategic partners does not yield the expected results or in the time frame anticipated, or that such relationships terminate sooner than expected; the risks that AEye may not be in a position to adequately or timely address either the near or long-term opportunities that may or may not exist in the evolving autonomous transportation industry; AEye’s limited operating history; AEye’s ability to successfully leverage existing value chains and realize the benefits of AEye’s capital- light business model; AEye’s ability to achieve the benefits expected from its relationships with certain customers and partnerships or that global automotive-grade production at scale can be achieved in the time frame anticipated, or at all; the risks that competitors will displace AEye at various customers, potential or actual; the risks that laws and regulations are adopted impacting the use of lidar that AEye is unable to comply with, in whole or in part; risks of employee retention, especially in the current challenging macroeconomic environment and industry headwinds; the volatility in the price of AEye’s securities; the timing of when AEye’s customers may adopt AEye’s technology into their products on a commercial basis, which could be delayed for issues related to or unrelated to AEye’s technology, including regulatory, safety, or reliability issues; changes in competitive and regulated industries in which AEye operates; variations in operating performance across competitors; changes in laws and regulations affecting AEye’s business; the risks of the ability to implement business plans, forecasts, and other expectations; the ability to identify and realize additional opportunities; undetected or unknown errors, defects, or reliability issues in AEye’s technology, which could negatively impact the market acceptance of AEye’s technology; the potential inability of AEye to scale its manufacturing capacity or to achieve efficiencies regarding its manufacturing processes or other costs; customer cancellations of their contracts with AEye; the inability to successfully retain or recruit officers, key employees, or directors; the enforceability of AEye’s intellectual property rights, including its patents and the potential infringement of the intellectual property rights of others; the risks of macroeconomic downturns and/or industry downturns; the risks of a changing regulatory landscape in the highly competitive and evolving industry in which AEye operates; unanticipated changes in the prices of key materials; the risks of shortages, long lead times, or other disruptions in the supply of key components; the risks that suppliers may discontinue or modify components used in AEye’s products; and the risks of defects in production processes at our facilities or the facilities of our contract manufacturers. These risks and uncertainties may be amplified by current or future global conflicts and current and potential trade restrictions, trade tensions, and tariffs, all of which continue to cause economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” section of the most recent periodic report that AEye has filed with the U.S. Securities and Exchange Commission (the “SEC”), and other documents filed by AEye or that will be filed by AEye from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. There may be additional risks that AEye presently knows or that AEye currently believes are immaterial that could also cause actual results to differ from those contained in any forward-looking statement. 2
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Disclaimer Readers are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. AEye gives no assurance that AEye will achieve any of its expectations. Accordingly, forward-looking statements, including any projections or analyses, should not be viewed as factual and should not be relied upon as an accurate prediction of future results. The forward-looking statements contained in this presentation are based on AEye’s current expectations and beliefs concerning future developments and their potential effects on AEye. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of management’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. AEye does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements. Financial Information Any financial forecasts, operating forecasts, or projections contained in this presentation represent certain estimates of AEye as of the date thereof. AEye’s independent public accountants have not examined, reviewed, or compiled the forecasts or projections and, accordingly, do not express an opinion or other form of assurance with respect thereto. Furthermore, none of AEye or its management team can give any assurance that the forecasts or projections that may be contained herein accurately represents AEye’s future operations or financial condition. Such information is subject to a wide variety of significant business, economic, and competitive risks and uncertainties that could cause actual results to differ materially from those contained in any prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of AEye’s future performance or that actual results will not differ materially from those presented in these materials. Some of the assumptions upon which the projections are based inevitably will not materialize and unanticipated events may occur that could affect results. Therefore, actual results achieved during the periods covered by the projections may vary and could vary materially from the projected results. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information are indicative of future results or will be achieved. Use of Non-GAAP Financial Measures This presentation may include certain forward-looking non-GAAP financial measures with respect to AEye’s expected future performance. These non-GAAP measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income, or any other performance measures derived in accordance with GAAP or as an alternative to cash flows from operating activities as a measure of our liquidity. Not all of the information necessary for a quantitative reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is available without unreasonable efforts at this time. This presentation also includes certain historical non-GAAP financial measures, including non-GAAP net loss and Adjusted EBITDA. A reconciliation of these historical non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the appendix to this presentation. AEye believes that these non-GAAP measures of financial results provide useful supplemental information about AEye. AEye’s management uses these non-GAAP measures to evaluate AEye’s projected financial and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore AEye’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Industry and Market Data This presentation has been prepared by AEye and may include market data and other statistical information from third party sources. Although AEye believes these third-party sources are reliable as of their respective dates, neither AEye nor any of its affiliates has independently verified the accuracy or completeness of this information. Some data is also based on AEye’s good faith estimates, which are derived from both internal sources and the third-party sources described above. None of AEye, its affiliates, nor its respective directors, officers, employees, stockholders, or agents make any representation or warranty with respect to the accuracy of such information. Trademarks and Intellectual Property All trademarks, service marks, and trade names of AEye or their respective affiliates used herein are trademarks, service marks, or registered trade names of AEye, as noted herein. Any other product, company names, or logos mentioned herein are the trademarks and/or intellectual property of their respective owners, and their use is not intended to, and does not alone imply, a relationship with AEye, or an endorsement or sponsorship by or of AEye. Solely for convenience, the trademarks, service marks, and trade names referred to in this presentation may appear without the ®, TM, or SM symbols, but such references are not intended to indicate, in any way, that AEye, or the applicable rights owner, will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. 3
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4 Matt Fisch Chief Executive Officer
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COMMERCIAL MOMENTUM Q2 2026 Commercial Dashboard Selected New Commercial Deal Alive3D 25 Revenue-generating Customers Up 19% vs. Q1 Earnings ~9x YoY Revenue Growth ~2x sequentially 3rd Consecutive Defense Order Defense engagements 2x QoQ First-half 2026 revenue of $303K exceeded full-year 2025 revenue of $233K 5
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New Vertical Proves the Architecture Apollo enters sports analytics, expanding the physical AI opportunity SPORTS ANALYTICS Apollo selected by Alive3D » Powers 3D spatial sports visualization and advanced data analytics » Same platform reconfigured via software for elite sports use case WHY IT MATTERS Same platform, expanding market » Use case was beyond the reach of first- generation lidar » New vertical is served from existing platform, without expanding the product portfolio » Broadens our addressable market with minimal incremental capital weight Barclays sizes the physical AI opportunity at up to $1 trillion by 2035 6
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Industry Vertical Momentum Automotive, Trucking, & OEM » Apollo validated on NVIDIA DRIVE AGX Thor » Active in multiple OEM L3/L4 evaluations sensing » MOU signed with MoveAWheeL on acoustic friction sensing Defense & Aerospace » Now our most active vertical -- engagements doubled QoQ » Lead customer placed third consecutive paid order » SynTech shipping Apollo internationally; new UAV, UGV and counter-UAS evaluations Industrial & Other » Continued POC activity across verticals » Software configurability shortening integration cycles » Partner-led motion keeps capital intensity low Rail & Smart Infrastructure » OPTIS live Bay Area smart intersection remains operational » Showcased with Michigan DOT at ITS America » Multiple rail RFI/POCs nearing commercial maturity 7
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Strategic Priorities for 2026 1 Convert the pipeline into commercial deployments » New commercial deal closed: Alive3D » Third consecutive paid order from our lead defense customer » Partnership-led conversion through NVIDIA, LITEON, MoveAWheeL, and SynTech 2 Extend our software-defined performance lead » Apollo detects at up to 1 km » Stratos extends range to 1.5 km » OPTIS delivers a full-stack sense-to-act platform 3 Maintain capital discipline through the ramp » $71.5M cash, virtually debt-free » $30-$35M full-year 2026 cash consumption target » Operational runway well into 2028 8
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Conor Tierney Chief Financial Officer 9
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Q2’26 Financial Summary (in millions, except per share amounts) Key Financial Metrics(1) Q2 2026 Q1 2026 GAAP Net Loss $(10.0) $(8.3) GAAP EPS $(0.22) $(0.18) Non-GAAP Net Loss(2) $(7.6) $(6.7) Non-GAAP EPS(2) $(0.17) $(0.15) Net Cash Used in Operating Activities $(7.3) $(8.6) Weighted Avg Shares for EPS 45.9 45.2 Cash, Cash Equivalents, and Marketable Securities $71.5 $77.2 (1) This table discloses select financial metrics, for full financial information refer to our second quarter 2026 earnings release (2) Excludes stock-based compensation expense, expenses related to financing arrangements and change in fair value of warrant liabilities. See reconciliation of GAAP to Non-GAAP Financial Measures on Slide 13 Quarterly Results (unaudited) 10
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FY 2026 Cash Consumption Outlook Expected cash consumption for full-year 2026 reaffirmed at $30-$35 million, inclusive of approximately $5 million in working capital requirements Strong balance sheet, with $71.5 million in cash at quarter end and virtually no debt, providing operational runway well into 2028 to support commercialization and customer deployments Sufficient capital resources to execute on multi-year production cycles with leading automotive OEMs and high-performance industrial partners 11
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12 Appendix
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Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except share amounts and per share data) Reconciliation to Non-GAAP Net Loss Q2 2026 Q1 2026 GAAP Net Loss $(10,022) $(8,345) Stock-based compensation 2,419 1,542 Stock issuance and debt issuance costs 97 136 Change in fair value of warrant liabilities (130) (19) Non-GAAP Net Loss $(7,636) $(6,686) Per Share Data: Non-GAAP net loss per common share (basic and diluted) $(0.17) $(0.15) Weighted average common shares outstanding (basic and diluted) 45,915,091 45,214,397 Quarterly Results (unaudited) 13
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LIDR THANK YOU Contact us: AEye, Inc. Investor Relations info@aeye.ai 925-400-4366