The following is a summary of the Cepton, Inc. (CPTN) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Cepton reported a record Q4 revenue of $5.0 million, an increase of 214% compared to the prior year period and up 29% from the previous quarter.

• Their FY 2023 revenue stands at $13.1 million, a growth of 76% compared to the previous year.

• Q4 GAAP net loss was $8.3 million or $0.52 loss per share.

• As of December 31, 2023, the company had approximately $56.4 million in cash, cash equivalents, and short-term investments.

Business Progress:

• Cepton launched the LiDAR product, Cepton Ultra, at the CES 2024 event, which is expected to strengthen its market position.

• The company got selected on the 1260H list of global military companies by the U.S. government, marking a major step forward in their business progress.

• Despite the cancellation of an order from their partner, Koito Manufacturing, Cepton has continued to secure project investment cost recovery. They have also made progress with a major autonomous industrial vehicles OEM using their near-range LiDAR product, Nova.

More details: Cepton IR

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