AEye, Inc. (Nasdaq: LIDR) issued a letter to stockholders on September 9, 2026, from Chairman and Chief Executive Officer Matt Fisch. The letter details significant commercial progress and organizational changes, emphasizing the company's transition toward recurring revenue and its expansion into new markets.
The filing reports that the company has secured a multi-million-dollar financial commitment from Lunar Outpost to deploy Apollo lidar on its Pegasus Lunar Terrain Vehicle, a project backed by NASA funding. Additionally, AEye announced a development contract with Alive3D for next-generation sports analytics and appointed Laura Wrisley as Chief Revenue Officer to scale its go-to-market execution.
Commercial activity reached a record level in Company history, with 25 customers taking revenue-generating shipments, a 19% increase since the first quarter of 2026. The company stated that revenue grew approximately nine-fold year-over-year and doubled sequentially, marking its fourth consecutive quarter of growth. AEye noted that its first-half 2026 revenue already exceeded full-year 2025 figures.
The company highlighted progress across multiple verticals, including aerospace and defense, automotive, trucking, and Intelligent Transportation Systems (ITS). Defense remains a key focus, with engagements doubling quarter-over-quarter. AEye also announced a memorandum of understanding with MoveAWheeL to combine lidar detection with acoustic road-surface friction sensing.
On the technology front, AEye’s Apollo platform was validated on NVIDIA DRIVE AGX Thor, positioning the company within the NVIDIA DRIVE Hyperion Ecosystem. The company also noted that its OPTIS platform is moving into deployment, with live smart intersections operational in the Bay Area and Detroit.
AEye stated that it maintains a substantial cash position and a virtually debt-free balance sheet. The company identified its priorities for the future as converting its record pipeline into revenue-generating relationships and extending its Apollo, STRATOS, and OPTIS platforms into additional high-value verticals.
