AEye plunges as loss widens on higher costs

Aeye

12/11/2021 12:26

** Lidar sensor maker AEye Inc's  LIDR.O  shares drop nearly
15% to $5.55 premarket
    ** Late on Thursday, co reported net loss of 15 cents/shr
for Q3, much higher than the 4 cents/shr loss a year earlier
 urn:newsml:reuters.com:*:nBw3tZHffa
    ** Losses driven by a two-fold jump in operating expenses,
as the company spent 345% on sales and marketing - statement
    ** Total revenue also slumped to $127,000, from $1.1 mln a
year earlier
    ** Earlier this year, the company went public through a
merger with a blank-check company backed by Cantor Fitzgerald

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))