AEye Has Begun Shipments of Apollo to a Global Defense Contractor for Use in Manned and Unmanned Aerial Vehicles

PLEASANTON, Calif.–(BUSINESS WIRE)–AEye, Inc. (Nasdaq:LIDR), a global leader in software-defined lidar solutions, and the manufacturer of the Apollo lidar sensor, today announced that it has begun shipments of Apollo to a leading U.S. defense contractor. AEye’s software-defined Apollo, an ultra-long-range lidar sensor, can deliver significant risk and safety improvements in difficult flight mission scenarios. These first units are focused on providing enhanced wire detection capabilities for both manned and autonomous aircraft, including drones and helicopters.

The technology that drives Apollo is capable of being configured to address multiple scenarios, including high-resolution detection of small obstacles at distances of up to one kilometer. This capability will ultimately provide for safer navigation in complex environments such as urban areas and mountainous terrain. In addition to the flexibility afforded by Apollo’s software configurability, Apollo’s small form factor enables countless placement options to meet different vehicle requirements.

“We designed and built Apollo with best-in-class physical design and capabilities,” said Matt Fisch, CEO of AEye. “Small object detection at high speeds is one of the most critical challenges in aviation and Apollo’s ability to accurately detect objects at longer distances addresses this need. This deployment highlights Apollo’s versatility and unique ability to rapidly adapt and scale into a broad set of markets from automotive, intelligent transportation, security, and now into UAVs, defense, and commercial aviation.”

“We believe lidar is critical to both the aviation and defense sectors, and this contract expands AEye’s overall market to include both. It also opens a path to significant revenue with this OEM as well as other defense and aviation-related OEMs seeking to deploy a similar system.”

About AEye

AEye offers unique software-defined lidar solutions that enable advanced driver-assistance, vehicle autonomy, smart infrastructure, security, and logistics applications that save lives and propel the future of transportation and mobility. AEye’s flagship product, Apollo, has been widely recognized for its small form factor and its ability to detect objects at up to one kilometer. In addition to Apollo as a stand-alone sensor, AEye also offers a full-stack solution through its OPTIS™ platform. OPTIS™ provides a complete system that captures a high-resolution 3D image of the world, interprets it, and provides direction to act upon what it sees in real-time.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook,” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements in this press release include, without limitation, statements about the ability of Apollo to deliver significant risk and safety improvements for manned and autonomous aircraft, the ability of Apollo to detect small obstacles at long distances, and the market potential for Apollo in the defense and commercial aviation markets, among others. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are very difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risks that Apollo may be unable to deliver the significant risk and safety improvements in difficult flight mission scenarios to the extent anticipated, or at all; (ii) the risks that Apollo may be unable to provide enhanced wire detection capabilities to the extent anticipated, or at all; (iii) the risks that some small obstacles may not be detectable at distances of up to one kilometer due to various environmental or other factors; (iv) the risks that Apollo may not provide for safer navigation, in complex environments or otherwise, to the extent anticipated, or at all; (v) the risks that Apollo may not accurately detect objects at longer distances and therefore not address the need of small object detection at high speeds to the extent anticipated, or at all; (vi) the risks that Apollo may not rapidly adapt nor scale into a broad set of markets to the extent or in the time frame anticipated, or at all; (vii) the risks that the path to significant revenue with this OEM may not materialize to the extent or in the time frame anticipated, or at all; (viii) the risks that other defense and aviation-related OEMs may not be seeking to employ similar systems to the extent or in the time frame anticipated, or at all; (ix) the risks that lidar adoption may occur slower than anticipated or fail to occur at all; (x) the risks that AEye’s products may not meet the diverse range of performance and functional requirements of target markets and customers; (xi) the risks that AEye’s products may not function as anticipated by AEye, or by target markets and customers; (xii) the risks that AEye may not be in a position to adequately or timely address either the near or long-term opportunities that may or may not exist in the evolving autonomous transportation industry; (xiii) the risks that laws and regulations are adopted impacting the use of lidar that AEye is unable to comply with, in whole or in part; (xiv) the risks associated with changes in competitive and regulated industries in which AEye operates, variations in operating performance across competitors, and changes in laws and regulations affecting AEye’s business; (xv) the risks that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xvi) the risks of economic downturns and a changing regulatory landscape in the highly competitive and evolving industry in which AEye operates. These risks and uncertainties may be amplified by current or future global conflicts and current and potential trade restrictions, trade tensions, and tariffs, all of which continue to cause economic uncertainty. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the periodic report that AEye has most recently filed with the U.S. Securities and Exchange Commission, or the SEC, and other documents filed by us or that will be filed by us from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

Investors are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye gives no assurance that AEye will achieve any of its expectations.