The company continues to report erratic quarterly revenue, peaking at only $104,000 in 2024Q3, while maintaining deeply negative gross margins that reached -99.0% in 2026Q1.
AEye, Inc. (LIDR) annual income statement — 7-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Sales/Revenue | 450K | 233K | 202K | 1.46M | 3.65M | 3.01M | 1.58M | 1.47M |
| Revenue Growth % | 90.68% | 15.35% | -86.2% | -59.86% | 21.28% | 90.44% | 7.71% | - |
| Cost of Goods Sold | 914K | 554K | 778K | 15.32M | 8.73M | 3.64M | 808K | 253K |
| COGS % of Revenue | - | 237.77% | 385.15% | 1046.38% | 239.43% | 120.95% | 51.17% | 17.26% |
| Gross Profit | -464K | -321K | -576K | -13.86M | -5.08M | -630K | 771K | 1.21M |
| Gross Margin % | -103.11% | -137.77% | -285.15% | -946.38% | -139.43% | -20.95% | 48.83% | 82.74% |
| Gross Profit Growth % | - | 44.27% | 95.84% | -172.47% | -707.14% | -181.71% | -36.44% | - |
| Operating Expenses | 35.55M | 31.41M | 35.25M | 73.92M | 93.72M | 62.6M | 27.25M | 548 |
| OpEx % of Revenue | - | 13480.69% | 17451.49% | 5049.25% | 2569.87% | 2081.98% | 1725.97% | 0.04% |
| Selling, General & Admin | 20.26M | 17.47M | 18.86M | 37.76M | 56.08M | 36.06M | 10.12M | 548 |
| SG&A % of Revenue | - | 7499.14% | 9338.12% | 2579.37% | 1537.67% | 1199.27% | 641.1% | 0.04% |
| Research & Development | 15.29M | 13.94M | 16.39M | 26.17M | 37.64M | 26.54M | 17.13M | 18.66M |
| R&D % of Revenue | - | 5981.55% | 8113.37% | 1787.64% | 1032.19% | 882.71% | 1084.86% | 1272.92% |
| Other Operating Expenses | 0 | 0 | 0 | 9.99M | 0 | 0 | 0 | 0 |
| Operating Income | -36.01M | -31.73M | -35.83M | -87.78M | -98.81M | -63.23M | -26.48M | -550 |
| Operating Margin % | -8002.22% | -13618.45% | -17736.63% | -5995.63% | -2709.3% | -2102.93% | -1677.14% | -0.04% |
| Operating Income Growth % | - | 11.44% | 59.18% | 11.17% | -56.26% | -138.78% | -4814809.09% | - |
| EBITDA | -35.8M | -31.58M | -35.7M | -86.23M | -97.39M | -62.22M | -25.56M | 342.45K |
| EBITDA Margin % | -7954.44% | -13551.93% | -17672.77% | -5889.96% | -2670.3% | -2069.21% | -1618.75% | 23.36% |
| EBITDA Growth % | -11.17% | 11.55% | 58.6% | 11.46% | -56.52% | -143.43% | -7563.86% | - |
| D&A (Non-Cash Add-back) | 215K | 155K | 129K | 1.55M | 1.42M | 1.01M | 922K | 343K |
| EBIT | -34.94M | -31.64M | -35.86M | -77.82M | -97.88M | -62.46M | -25.15M | -548 |
| Net Interest Income | 1.24M | -321K | 1.49M | 1.76M | 767K | -4.3M | -1.48M | 0 |
| Interest Income | 1.32M | 1.99M | 1.49M | 1.79M | 1.54M | 561K | 23K | 0 |
| Interest Expense | 89K | 2.31M | 0 | 34K | 778K | 4.86M | 1.5M | 0 |
| Other Income/Expense | 982K | -2.22M | 366K | 707K | 152K | -1.78M | -69K | 2 |
| Pretax Income | -35.03M | -33.95M | -35.46M | -87.07M | -98.66M | -65.01M | -26.55M | -548 |
| Pretax Margin % | -7784% | -14569.53% | -17555.45% | -5947.34% | -2705.13% | -2161.99% | -1681.51% | -0.04% |
| Income Tax | 11K | 11K | -2K | 57K | 58K | 0 | 0 | 0 |
| Effective Tax Rate % | -0.03% | -0.03% | 0.01% | -0.07% | -0.06% | 0% | 0% | 0% |
| Net Income | -35.04M | -33.96M | -35.46M | -87.13M | -98.71M | -65.01M | -26.55M | -548 |
| Net Margin % | -7786.44% | -14574.25% | -17554.46% | -5951.23% | -2706.72% | -2161.99% | -1681.51% | -0.04% |
| Net Income Growth % | -1.44% | 4.24% | 59.3% | 11.74% | -51.84% | -144.85% | -4844972.99% | - |
| Net Income (Continuing) | -35.04M | -33.96M | -35.46M | -87.13M | -98.71M | -65.01M | -26.55M | -548 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.76 | -0.90 | -4.47 | -14.95 | -18.82 | -12.57 | -29.10 | -0.00 |
| EPS Growth % | 69.9% | 79.87% | 70.1% | 20.56% | -49.72% | 56.8% | - | - |
| EPS (Basic) | - | -0.90 | -4.47 | -14.95 | -18.82 | -12.57 | -29.10 | -0.00 |
| Diluted Shares Outstanding | 45.92M | 37.86M | 7.94M | 5.83M | 5.25M | 5.17M | 912.5K | 850K |
| Basic Shares Outstanding | 45.92M | 37.86M | 7.94M | 5.83M | 5.25M | 5.17M | 912.5K | 850K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying LIDR stock.
For fiscal year 2025, AEye, Inc. (LIDR) reported total revenue of $0.2M. This represents a 84.1% decline compared to $1.5M in 2019.
AEye, Inc. (LIDR) reported a net loss of $34.0M for the fiscal year ending 2025.
AEye, Inc. (LIDR) reported an operating income of $-31.7M, resulting in an operating profit margin of -13618.5%. This margin reflects the operational efficiency of the business before interest and taxes.
AEye, Inc. (LIDR) generated $-0.3M in gross profit for the year, representing a gross profit margin of -137.8%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Liquidity and commercialization failure
Metrics are mathematically derived from official filings.
Revenue Volatility Masks Scaling Challenges
As reported in recent financial filings, AEye's quarterly revenue remains highly erratic, fluctuating between $20,000 and $104,000 over the last ten quarters, which suggests that the company has yet to establish a repeatable or predictable commercial sales pipeline for its LiDAR technology.
The lack of consistent sequential growth indicates that current revenue is likely derived from sporadic, non-recurring engineering projects rather than sustained product adoption. Investors should monitor whether the company can transition from these prototype-level engagements to meaningful, volume-based licensing agreements.
Structural Negative Margins Persist
Based on the provided income statement data, AEye continues to report deeply negative gross margins, including a -99.0% margin in 2026Q1, which highlights the company's inability to cover the direct costs associated with its current hardware-centric development and prototype production activities.
These persistent negative margins suggest that the company's current cost of goods sold is disproportionately high relative to its limited revenue base. A fundamental improvement in profitability appears contingent upon the successful execution of an asset-light model that shifts manufacturing burdens to external partners.
Operating Expenses Outpace Revenue Generation
According to the company's historical income statements, operating expenses remain significantly elevated relative to revenue, with quarterly R&D and SG&A costs consistently exceeding $7 million, indicating that the firm has not yet achieved any meaningful operating leverage in its current business model.
The high fixed-cost structure, primarily driven by R&D, suggests that the company is prioritizing technical development over immediate cost discipline. This approach warrants further investigation into whether current spending levels are effectively accelerating the path to commercialization or merely sustaining an unsustainable burn rate.
Sustainability of Current Business Model
Based on the reported figures, the company's reliance on non-recurring engineering fees and the absence of high-volume production contracts raise significant concerns regarding the viability of its long-term financial trajectory and the potential for continued shareholder dilution to fund ongoing operations.
Short-term liquidity risks appear elevated given the consistent quarterly net losses and the absence of a clear path to positive cash flow. Investors should consider the possibility that the current asset-light pivot may be insufficient to offset the structural challenges inherent in the competitive LiDAR market.