Given these factors, as well as other variables that may affect Velodyne Lidar’s operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this press release relate only to events as of the date hereof. Velodyne Lidar undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
About Velodyne Lidar, Inc.
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne, a global leader in lidar, is known for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including robotics, industrial, intelligent infrastructure, autonomous vehicles and advanced driver assistance systems (ADAS). Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all.
VELODYNE LIDAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)
|
|||||||
|
September 30, |
|
December 31, |
||||
|
|
2022 |
|
|
|
2021 |
|
Assets |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
51,487 |
|
|
$ |
24,064 |
|
Short-term investments |
|
168,570 |
|
|
|
270,357 |
|
Accounts receivable, net |
|
6,129 |
|
|
|
8,881 |
|
Inventories, net |
|
11,498 |
|
|
|
9,299 |
|
Prepaid and other current assets |
|
8,201 |
|
|
|
14,822 |
|
Total current assets |
|
245,885 |
|
|
|
327,423 |
|
Property, plant and equipment, net |
|
11,684 |
|
|
|
14,710 |
|
| Operating lease right-of-use (ROU) assets |
|
16,727 |
|
|
|
16,891 |
|
| Goodwill |
|
1,189 |
|
|
|
1,189 |
|
| Intangible assets, net |
|
402 |
|
|
|
724 |
|
| Contract assets |
|
9,182 |
|
|
|
12,962 |
|
| Other assets |
|
851 |
|
|
|
1,522 |
|
| Total assets |
$ |
285,920 |
|
|
$ |
375,421 |
|
| Liabilities and Stockholders’ Equity |
|
|
|
||||
| Current liabilities: |
|
|
|
||||
| Accounts payable |
$ |
5,001 |
|
|
$ |
5,105 |
|
| Accrued expense and other current liabilities |
|
31,074 |
|
|
|
33,028 |
|
| Operating lease liabilities, current |
|
3,062 |
|
|
|
2,623 |
|
| Contract liabilities, current |
|
5,456 |
|
|
|
6,348 |
|
| Total current liabilities |
|
44,593 |
|
|
|
47,104 |
|
| Operating lease liabilities, non-current |
|
14,674 |
|
|
|
15,210 |
|
| Contract liabilities, non-current |
|
9,841 |
|
|
|
12,740 |
|
| Long-term tax liabilities |
|
459 |
|
|
|
443 |
|
| Other long-term liabilities |
|
814 |
|
|
|
661 |
|
| Total liabilities |
|
70,381 |
|
|
|
76,158 |
|
| Commitments and contingencies |
|
|
|
||||
| Stockholders’ equity: |
|
|
|
||||
| Preferred stock |
|
— |
|
|
|
— |
|
| Common stock |
|
23 |
|
|
|
20 |
|
| Additional paid-in capital |
|
877,935 |
|
|
|
825,988 |
|
| Accumulated other comprehensive loss |
|
(1,103 |
) |
|
|
(412 |
) |
| Accumulated deficit |
|
(661,316 |
) |
|
|
(526,333 |
) |
| Total stockholders’ equity |
|
215,539 |
|
|
|
299,263 |
|
| Total liabilities and stockholders’ equity |
$ |
285,920 |
|
|
$ |
375,421 |
|
