Aeva Technologies, Inc. Q2 FY2024 earnings call

• Achieved key milestones with Daimler Truck, including center shipments and Daimler Truck unveiling autonomous Freightliner with Aeva's 4D LiDAR.
• Made significant progress with multiple global top 10 passenger vehicle OEMs, expecting award decision later this year with one and new collaboration with another.
• Completed final validation of LiDAR-on-Chip in Nikon's product for Q4 Industrial launch.
• Expanded into security with top U.S. National Defense Security organization selecting Aeva 4D LiDAR for critical energy infrastructure protection.
• Selected for Germany's automated train program, leveraging 4D LiDAR for hazard detection and precise positioning without GPS.

Revenue in Q2 was $2 million, driven by sensor shipments to multiple customers and NRE from Daimler Trucks. No specific product segments with revenue contribution percentages detailed.

• In final stages of key opportunities and advancing on other engagements across automotive and beyond.
• Expect to convert portion of opportunities to wins this year and continue mission to bring next wave of perception to various applications.

• Forward-looking statements subject to risks and uncertainties; refer to SEC filings for material risks affecting financial results.

Q: Curious how leverageable the security opportunity is, scope and cadence?

A: Soroush mentioned it's first expansion in security, higher ASPs than automotive, excited about growth, and engaged in other defense/security opportunities.

Q: Talk about scale-up of dedicated line for Nikon products, performance, efficiency?

A: Dedicated line for LiDAR-on-Chip module was completed ahead of schedule, supports production programs, scaling shipments for Daimler Truck and Nikon starting Q4, and achieved ISO 27001 certification.

Q: Delay in decision-making for top 10 OEMs, risk of moving into 2025?

A: Industry transitioning to FMCW, current programs on track, new engagement with another top 10 passenger OEM, expecting award decision this year.