NetworkNewsBreaks – Cepton Inc. (NASDAQ: CPTN) A
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Posted On: 11/08/2024 2:57:22 PM
NetworkNewsBreaks – Cepton Inc. (NASDAQ: CPTN) Advances Lidar Commercialization Amid Acquisition by Koito and Growing OEM Partnerships
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.
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://nnw.fm/CPTN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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.
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://nnw.fm/CPTN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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