## Aeva Technologies Inc. Reports Triple-Digit Revenue Growth and Customer Wins Fueled by 4D LiDAR Demand
The world is becoming more automated, and LiDAR technology is playing a key role in this shift. Aeva Technologies Inc. (AEVA) is at the forefront of this revolution, experiencing significant growth as more customers adopt its next-generation FMCW 4D LiDAR technology.
This momentum is reflected in Aeva’s recently reported third-quarter results. The company delivered triple-digit year-over-year revenue growth, reaching $2.3 million, and secured several key customer wins. This growth is attributed to Aeva’s unique approach to LiDAR, offering advanced features that distinguish it from traditional 3D time-of-flight solutions.
Aeva’s 4D LiDAR technology utilizes a low-power continuous laser beam to simultaneously measure range and velocity.
This capability unlocks new levels of safety and automation, enabling the technology to instantly differentiate between moving and stationary objects while determining the precise velocity of moving objects. This edge has attracted significant interest and customer wins for Aeva.New Contracts Fueling Demand
During the third quarter, Aeva inked a multi-year sensor supply deal with The Indoor Lab, a LiDAR perception and analytics solutions company. This deal marks a significant milestone for Aeva, securing their first industrial customer production win for Atlas, their next-generation 4D LiDAR. The Indoor Lab platform will use Aeva’s technology to enhance safety, security, and operational efficiency at major U.S. airports, mass transit railways, agriculture, theme parks, and other large venues. The agreement offers significant revenue potential, with multiple tens of millions of dollars projected over the next few years alone.
Furthermore, Aeva secured a win with a major European passenger vehicle original equipment manufacturer (OEM). This unnamed OEM selected Aeva’s 4D LiDARs due to their ability to collect velocity data, which is crucial for validating next-generation vehicle automation systems. This win further solidifies Aeva’s position in the automotive market, where they are actively working on securing additional contracts.
Aeva is also making significant strides in the trucking industry.
The company has partnered with Daimler Truck AG and Torc Robotics to develop self-driving trucks. Through a $1 billion deal, Aeva’s 4D LiDAR is the exclusive long-range and ultra-long-range LiDAR for Daimler Truck’s Class 8 Freightliner Cascadia autonomous truck platform. This partnership, combined with Torc’s autonomous driving stack, will enable highway speed autonomy for these heavy-duty trucks, addressing the critical driver shortage in the trucking industry. Notably, Torc successfully validated fully driverless operations at highway speeds up to 65 miles per hour using Aeva’s LiDAR technology, marking a key milestone in the commercialization plan for Daimler Truck’s autonomous truck production program by 2027.Scaling Production to Meet Demand
To meet the growing demand, Aeva has pulled forward the first shipments of Aeva Atlas, its production-intent product, by approximately two quarters. The company is currently implementing plans to scale production for next year, further strengthening their position as a leader in the LiDAR market.
Aeva’s commitment to innovation and their ability to meet the increasing demand for 4D LiDAR technology positions the company for continued success. As the world embraces automation, Aeva’s technology will be at the forefront of this transformation, delivering safer, more efficient, and intelligent solutions across various industries.
