Cepton (NASDAQ: CPTN) shared updates for Q3 2024, highlighting advancements in its lidar technology commercialization, with a major long-range lidar RFQ in final stages with a Top 10 global automotive OEM. Cepton’s CEO, Jun Pei, noted the company’s solid positioning in the automotive lidar market, strengthened by a pending acquisition by Koito Manufacturing Co. Ltd. and continued development with OEMs for near-range lidar. The acquisition, set at $3.17 per share in an all-cash transaction, is anticipated to close in early 2025, subject to shareholder and regulatory approvals. For Q3, Cepton reported $0.5 million in revenue, with a GAAP net loss of $10.6 million and an adjusted EBITDA of $(8.0) million.
To view the full press release, visit https://ibn.fm/GPnjt
About Cepton Inc.
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D-perception solutions across industries. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass-market commercialization of high-performance, high-quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the metro Detroit metropolitan area. Cepton also has a presence in Germany to serve a fast-growing global customer base. For more information about this company, please visit www.Cepton.com.
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN
About TechMediaWire
TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.TechMediaWire.com
Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer
TechMediaWire
Los Angeles, CA
www.TechMediaWire.com
310.299.1717 Office
Editor@TechMediaWire.com
TechMediaWire is powered by IBN