Revenue (Q1 2024 vs Q1 2023)

+51% ( " " " )

Q1 2024 revenue increased from $17.2M to $25.9M primarily due to the successful launch and adoption of the REV7 sensor, full-quarter Velodyne product results, and sizable orders in the robotics and automotive verticals, building on previous period performance. " " "

Revenue (Q1 2025 vs Q1 2024)

+26% ( " " " )

Q1 2025 revenue rose to $33M driven by higher average selling prices, a 6% increase in sensor shipments (4,700 sensors shipped), and additional revenue from patent royalties ($2M), marking a progression from the strong revenue base of Q1 2024. " " "

GAAP Gross Margin (Q1 2024 vs Q1 2023)

Improved from (2%) to 29% ( " " " )

Gross margins improved markedly in Q1 2024 due to increased revenue, a favorable product mix, lower manufacturing costs, and the elimination of certain inventory and purchase commitment costs that had previously depressed margins.

GAAP Gross Margin (Q1 2025 vs Q1 2024)

Increased from 29% to 41% ( " " " )

Further margin improvement in Q1 2025 to 41% was driven by the sustained revenue growth, the boost of approximately 300 basis points from patent royalties, and continued benefits from an enhanced product mix and operational improvements compared to Q1 2024.

Operating Expenses (Q1 2024 vs Q1 2023)

Declined from $176.7M to $33.2M ( " " " )

A drastic reduction in operating expenses in Q1 2024 came from the removal of a $99.4M goodwill impairment charge and significant cuts in R&D, sales & marketing, and G&A costs, marking a significant operational efficiency improvement over the prior period. " " "

Adjusted EBITDA Loss (Q1 2025 vs Q1 2024)

Reduced from $12M to $8M ( " " )

Q1 2025 demonstrated better cost management, with the adjusted EBITDA loss improving from $12M to $8M despite slightly higher operating expenses, reflecting effective execution and tighter cost controls relative to the previous period. " "

Sensor Shipments (Q1 2025 vs Q1 2024)

4,700 sensors shipped; +6% increase ( " " " )

Q1 2025 saw a 6% growth in sensor volumes, with 4,700 sensors shipped, underscoring rising customer demand across industrial and automotive verticals and building on the strong volume performance from the previous period. " " "