VELODYNE LIDAR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) (Unaudited)
|
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|
Three Months Ended |
|
Nine Months Ended |
||||||||||||||||
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
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Revenue: |
|
|
|
|
|
|
|
|
|
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Product |
$ |
7,442 |
|
|
$ |
9,652 |
|
|
$ |
11,782 |
|
|
$ |
21,456 |
|
|
$ |
34,345 |
|
License and services |
|
2,199 |
|
|
|
1,855 |
|
|
|
1,278 |
|
|
|
5,872 |
|
|
|
10,037 |
|
Total revenue |
|
9,641 |
|
|
|
11,507 |
|
|
|
13,060 |
|
|
|
27,328 |
|
|
|
44,382 |
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
||||||||||
| Product |
|
20,353 |
|
|
|
18,347 |
|
|
|
17,716 |
|
|
|
53,896 |
|
|
|
52,555 |
|
| License and services |
|
165 |
|
|
|
257 |
|
|
|
84 |
|
|
|
689 |
|
|
|
433 |
|
| Total cost of revenue |
|
20,518 |
|
|
|
18,604 |
|
|
|
17,800 |
|
|
|
54,585 |
|
|
|
52,988 |
|
| Gross loss |
|
(10,877 |
) |
|
|
(7,097 |
) |
|
|
(4,740 |
) |
|
|
(27,257 |
) |
|
|
(8,606 |
) |
| Operating expenses: |
|
|
|
|
|
|
|
|
|
||||||||||
| Research and development |
|
16,918 |
|
|
|
18,757 |
|
|
|
20,221 |
|
|
|
56,972 |
|
|
|
55,608 |
|
| Sales and marketing |
|
4,878 |
|
|
|
5,340 |
|
|
|
6,547 |
|
|
|
16,223 |
|
|
|
60,798 |
|
| General and administrative |
|
9,583 |
|
|
|
13,430 |
|
|
|
23,271 |
|
|
|
35,330 |
|
|
|
59,440 |
|
| Total operating expenses |
|
31,379 |
|
|
|
37,527 |
|
|
|
50,039 |
|
|
|
108,525 |
|
|
|
175,846 |
|
| Operating loss |
|
(42,256 |
) |
|
|
(44,624 |
) |
|
|
(54,779 |
) |
|
|
(135,782 |
) |
|
|
(184,452 |
) |
| Interest income |
|
732 |
|
|
|
294 |
|
|
|
109 |
|
|
|
1,253 |
|
|
|
321 |
|
| Interest expense |
|
— |
|
|
|
— |
|
|
|
(6 |
) |
|
|
(3 |
) |
|
|
(83 |
) |
| Other income (expense), net |
|
2 |
|
|
|
(110 |
) |
|
|
(22 |
) |
|
|
(104 |
) |
|
|
10,097 |
|
| Loss before income taxes |
|
(41,522 |
) |
|
|
(44,440 |
) |
|
|
(54,698 |
) |
|
|
(134,636 |
) |
|
|
(174,117 |
) |
| Provision for (benefit from) income taxes |
|
41 |
|
|
|
(141 |
) |
|
|
14 |
|
|
|
347 |
|
|
|
649 |
|
| Net loss |
$ |
(41,563 |
) |
|
$ |
(44,299 |
) |
|
$ |
(54,712 |
) |
|
$ |
(134,983 |
) |
|
$ |
(174,766 |
) |
| Net loss per share: |
|
|
|
|
|
|
|
|
|
||||||||||
| Basic and diluted |
$ |
(0.19 |
) |
|
$ |
(0.22 |
) |
|
$ |
(0.28 |
) |
|
$ |
(0.66 |
) |
|
$ |
(0.91 |
) |
| Weighted-average shares used in computing net loss per share: |
|
|
|
|
|
|
|
|
|
||||||||||
| Basic and diluted |
|
213,518,699 |
|
|
|
198,947,058 |
|
|
|
196,204,671 |
|
|
|
203,504,556 |
|
|
|
192,835,674 |
|
