The company only has 211 million shares outstanding, placing the market value at $2.1 billion.

For Q2'21, Ouster generated revenues of $7.4 million and the 2024 revenue target was $818 million, nearly tripling the 2024 revenue target of Aeva. Aeva didn't provide any indication the revenue picture was altered by the collaboration with Nikon, but the market should expect the company has some ability to move revenues forward as precision automation products will reach the market quicker.įor this reason, a company like Ouster ( OUST) in the lidar sensor market has predicted a quicker ramp in revenues due to this focus on the non-automotive market. The big question is how the revenue picture expands with the move beyond automotive. These numbers are conducive with the previous focus on the automotive sector where sales weren't going to ramp until auto manufacturers released Level 4/5 autonomous cars in 2024/25. The company forecast a revenue target of $75 million for 2023 jumping to $286 million in 2024 and eventually $880 million by 2025. Aeva forecasted a strong revenue ramp from now through 2025, but the very small base will make for a bumpy ride in the years ahead.Īnalysts don't even have the company reaching $100 million in sales by 2023, so shareholders have at least two more years before even discussing meaningful revenue totals. The company reported Q2'21 revenues grew 63% YoY to $2.6 million.

As part of this, TuSimple is also incorporating Aeva's unique instantaneous velocity data into its perception stack, which helps classify hazardous objects instantly with greater confidence and at long ranges, enabling a critical factor of safety needed for autonomous trucks. We have expanded collaboration with TuSimple over the past quarter, and are now taking another step forward with the implementation of Aeva's 4D LiDAR as the only long range LiDAR on TuSample's currently operating on the road. The autonomous truck company has been mentioned as testing multiple lidar sensors and Aeva suggests the company is only collaborating with their chips now per CEO Soroush Salehian on the Q2'21 earnings call as follows: The technology is expected to see quicker implementation plans, though Aeva is only targeting products with Nikon in 2025.Īeva is still making great progress in automotive with further signs of strong collaboration with TuSimple ( TSP). The major question is whether the lidar tools from Aeva improve precision measurements enabling improved manufacturing and faster production timelines. Industrial automation applications in manufacturing airplanes or machine tooling don't face any real same safety precautions. In a lot of cases, these other categories allow humans to safely transition out of dangerous situations encouraging quicker implementation of lidar technologies.

These segments aren't reliant on human safety in order to launch those markets. The company signed a strategic collaboration with Nikon to bring the perception technology into the industrial space.Ī prime reason to focus beyond automotive is a more immediate market opportunity in the industrial, robotic, and smart infrastructure. In the last quarter, Aeva moved into the industrial automation sector with an estimated TAM of $10 billion. A lot of the companies have some cross focus, but the total market opportunity is massive. The lidar sector has very distinctive end markets with related companies focusing either on the automotive sector or non-automotive sectors. My investment thesis remains Bullish on the lidar sensor stock knowing the road will be bumpy in the years ahead. A company like Aeva ( NYSE: AEVA) remains on track to the financial goals outlined with the SPAC deal, but the company is still years away from generating meaningful revenues. The lidar stocks continue to trade weak following the closure of SPAC deals in the last year.

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