everyone. Welcome, Matt. Thanks,
to AEye on despite allows like recent production Continental established remains that I keep success great believe us manufacturing of to infrastructure the to Tier technology. with firmly would X that for partnership recipe this the and to Xs. leverage in partners announcement, capital-light Tier its to costs low, is We reiterate scale which designing focus committed established the model industry
to in have The to be working, by with worsen components. fatalities to Established LiDAR done to nearly other to which Xs Association. capabilities increased road and the radar, alone, to quickly Tier from worldwide. Safety and why XX-year safety Governors be appear past this ADAS a have the scale. continues needs current at cameras the this In is deployed XXXX do technology does to XXXX the Highway not high pedestrian reach The crisis XX% U.S. according and
repeat in an highly In X LiDAR terms technology at we size, scale is software-defined and believe at AEye's performance of differentiated technology. Tier requires turn, again, reliability, competitive ultra-long I'll AEye's range price established point. plus a commercializing
us model current to tough weather capital-light the high the with cost positions AEye's In storm. of macro environment capital,
date, peers be their production. still than there, time development ramped the of amounts awards no will industrialize bridge Our to we XXx to The commercialization. the is tremendous have aware The of X to challenging of phase. X require to LiDAR has expected This who industry research AEye all cash be to burn are next advantage. a obligations. warranty resources product is is and up the given years that cover the will the and program bluster our products needed arguably capital industry to for lower and mass to in high-volume out capital scarcity to where Despite
all to be been split in to share Before numbers. account count adjusted we address for presented financial that our December the the a and company the highlight to information has that results, would like effected I XXXX, reverse financial revised stock
to Now turning our results. quarter financial fourth
report of reduced This consecutive First our additional our that and net $XX.X cash cash $X.X by to is million $X.X quarter's an am importantly, burn third to quarter cash million. most prior I burn from million reductions. burn we pleased of the
our primarily million last call. Fourth quarter Quarter-over-quarter, inventory reduction compared well as the the revenue on down decreased our The on was over their key $XX,XXX discussed as continues gross were revenues focus current automotive earnings automotive to to efforts lower of industrial to prior of $X.X prior write-downs due line margins milestones noncash expected product $XXX,XXX as quarter's team of the quarter, first strategy. in have wind as our increased quarter. because under
related improvements $XX.X due impairment prior to are property these charges leasehold the right-of-use were to assets on our Fourth related charges up and from for The operating the long-lived and resulting $X.X headquarters cash primarily Dublin noncash million, our million reduction equipment. of GAAP expenses XX% assets. of million quarter, and this majority in quarter from quarter's of our restructuring and force $X.X
Non-GAAP share or last primarily reported our net cost initiatives was loss a sequentially net previously. long-lived $X.X loss fourth net in quarter the The initiatives. force assets, $XX.X or a We and due per quarter. from in write-downs reduction operating GAAP of mainly associated last share expenses down $XX loss reduction GAAP quarter, million, were of due discussed increase million of impairment million per continued $X.X versus to inventory $X.XX to million GAAP $X.XX
loss was made million expense in basis, fourth per net share or non-GAAP per a The net in $X.XX $X.XX loss prior $X.X or compared quarter our non-GAAP of the On the to quarter. a $X.X share million EPS guidance non-GAAP for the fourth the and quarter quarter up quarter in the beat third last in we have success set in $X.XX. us our further why provided reductions realized future, we by which is
assets Despite quarter impairment our provided this, meeting GAAP to of we previously. fall the discussed of EPS did $X short long-lived due of guidance primarily last
third our $X.X in million continue fourth operating in decreased cash quarter $XX.X million and carefully to quarter. activities for used manage to cash from net the the We
securities marketable of We cash debt. closed quarter $XX.X and the million cash, fourth and no with equivalents
up line facility equity additional access allows source liquidity, to our over which of have to next us the of our statement, shelf $XXX an years. X.X to we raise million and As registration credit
Thanks guidance in rate million $XX XXXX. to XXXX. cash us expect we of the various our XX% on range be million cash $XX cost in to to our the This for puts track to QX for reduction year when turning to Now our XXXX. full a burn reduction initiatives, compared burn to
intent In excited upcoming signed nominations. a I'm letter path which sensor ADAS on front global particular, Tier of opportunities to the with RFQ us. supplier, in automotive stay of X competitive the about opens a
also the which delivers market, ultra-long-range but As continue Apollo, Matt believe products we sensor is only performance, innovative most the compact mentioned, to we to available. bring such not as
continued I will with operating to which cash discipline, including reductions XXXX. we well costs, our extend expect am our pleased financial into further fixed runway
about our optimize partners. well with We the we bullish OEM significant future to positioned are opportunity are see and the
pass I'll wrap it to that, up. back With Matt to things
