AEye Named by Fast Company as One of World’s Most Innovative Companies

March 8, 2022

Intelligent Sensing Pioneer Recognized for Accelerating Innovation Throughout the Automotive and Transportation Ecosystem

DUBLIN, Calif.--(BUSINESS WIRE)--Mar. 8, 2022-- AEye, Inc. (NASDAQ: LIDR), the global leader in adaptive, high-performance lidar solutions, today announced it has been named to Fast Company’s 2022 list of the World’s Most Innovative Companies. Fast Company recognized AEye in the transportation category for its groundbreaking advancements in software-driven intelligent sensing.

AEye’s 4Sight™ Adaptive Lidar platform utilizes lasers to focus on what matters most in an environment, complementing existing sensors such as cameras and radar to increase speed and accuracy of decision-making. This laser-based sensing system is designed to allow cars and other vehicles to perceive the world as a human would, and serves as a foundation for advancements in the creation of software-definable cars. This should allow consumers to download feature upgrades that extend the safety and performance of their vehicles. By working closely with its world-class innovation partners, AEye and its 4Sight sensing platform is enabling a cycle of innovation designed to propel the future of transportation and mobility for many years to come.

Chosen by Fast Company’s editors and writers, the Most Innovative Companies list recognizes the organizations that are transforming industries and shaping society with some of the most inspiring accomplishments of the 21st century.

“AEye is truly honored to take our place among the world’s greatest innovators on Fast Company’s 2022 list,” said Blair LaCorte, CEO of AEye. “Receiving this award, especially after accepting the Innovation Award at the 2022 Consumer Electronics Show in January, further validates our potential to transform the technological and business dynamics in the markets we serve. AEye and our partners will soon enable vehicles to dynamically download and update sensing modes optimized for any vehicle, driving scenario or location – on road or off road – ensuring safe autonomy anywhere.”

AEye has developed an innovative business model that is designed to accelerate technology adoption. The company’s modular system design and software programmability uniquely enable a single lidar system to be optimized for multiple markets, driving innovation that optimizes both performance and cost. In automotive, AEye’s tier one automotive partners design, manufacture, and market their own unique products based on AEye’s patented 4Sight sensor design and software. AEye’s contract manufacturing partners leverage the same automotive grade components to build and configure AEye sensors for system integration customers in the industrial and mobility markets.

Over the past year, AEye has positioned itself for an upward trajectory of growth through technology and product innovation, performance validation, and company expansion to advance its mission to drive the future of safe autonomy. The company became the first and only lidar company to validate its sensor’s performance through a leading third-party testing service and reached the milestone of more than 100 patents filed globally, spanning four continents and more than 10 countries. In addition, AEye became a publicly traded company listed on the Nasdaq stock exchange, doubled in size, and opened offices in Korea and Japan.

AEye will be participating in the 34^th annual Roth Conference on March 14 and 15. To learn more and to register for the webcast, please visit b2idigital.com/aeye-roth.

Fast Company’s Most Innovative Companies issue (March/April 2022) is available online and, beginning March 15, on iTunes and at newsstands.

About AEye

AEye’s software-defined LiDAR enables advanced driver-assistance, vehicle autonomy and industrial applications that save lives and propel the future of transportation and mobility. The company's 4Sight™ Intelligent Sensing Platform uses adaptive LiDAR to focus on what matters most: enabling faster, more accurate and reliable perception for dynamic applications ranging from autonomous driving to intelligent infrastructure, which require precise measurement imaging to ensure safety and performance. The company was founded in 2013 and is based in the San Francisco Bay Area.

About Fast Company

Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation and design, engaging the most influential leaders, companies and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc. and can be found online at www.fastcompany.com.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements within the meaning of the federal securities laws, including the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “continue,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “predict,” “plan,” “may,” “should,” “will,” “would,” “potential,” “seem,” “seek,” “outlook,” and similar expressions that predict or indicate future events or trends, or that are not statements of historical matters. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements included in this press release include statements about AEye’s products and business plan, the innovation of AEye and its products, the ability of these products to meet the requirements for multiple applications, the adoption rate of AEye’s products, and AEye’s market position, among others. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are very difficult or impossible to predict and will differ from the assumptions. Many actual events and circumstances are beyond the control of AEye. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risks that the AEye sensing system will not be a foundation for advancing software-definable cars, or that software-definable cars will exist in the marketplace; (ii) the risks that AEye’s products will not sufficiently complement existing sensors, such as cameras or radar, such that AEye’s products gain acceptance in the marketplace; (iii) the risks that AEye and its innovation partners will be able to innovate sufficient to propel transportation or mobility in the future, or at all; (iv) the risks that AEye’s products will contain sufficient innovation which is recognized in the marketplace; (v) the risks that AEye may be able to sufficiently transform the technological or business dynamics in the markets it serves; (vi) the risks that AEye may not be able to successfully implement dynamic downloads; (vii) the risks that AEye may not be able to successfully update sensing modes that are optimized, or at all; (viii) the risks that AEye’s products may not sufficiently ensure autonomy considered to be safe by the marketplace in every scenario, or at all; (ix) the risks that AEye’s products may not be able to deliver real autonomy on demand, or at all; (x) the risks that AEye’s products may not sufficiently increase speed or accuracy of decision-making; (xi) the risks that AEye’s business model will not be viewed as innovative or accelerate technology adoption; (xii) the risks that AEye’s modular system may not be sufficient to drive innovation in the marketplace, nor be able to optimize both performance and cost; (xiii) the risks that AEye has not sufficiently positioned itself for an upward trajectory of growth; (xiv) the risks that lidar will not be ubiquitous in the timeframe anticipated by AEye, or at all; (xv) the risks that AEye’s products will not be viewed as truly innovative in the marketplace; (xvi) the risks that AEye’s business model and technology will be viewed in the marketplace as highly differentiated or compelling; (xvii) the risks that AEye’s products will be adopted on a widespread basis, or at all, and the timing associated with such adoption being longer than anticipated by AEye; (xviii) the risks that AEye’s unique approach to lidar sensing will not result in a commercial product or, if a commercial product is launched, that it is accepted by the market; (xix) the risks that AEye’s product is not found by the marketplace to uniquely drive innovation expected by customers; (xx) the risks that lidar adoption occurs slower than anticipated or fails to occur at all; (xxi) the risks that AEye’s products will not meet the diverse range of performance and functional requirements of AEye’s target markets and customers; (xxii) the risks that AEye’s products will not function as anticipated by AEye or by AEye’s target markets and customers; (xxiii) the risks that laws and regulations are adopted impacting the use of lidar that AEye is unable to comply with, in whole or in part; (xxiv) changes in competitive and regulated industries in which AEye operates, variations in operating performance across competitors, and changes in laws and regulations affecting AEye’s business; (xxv) the risks that AEye is unable to adequately implement its business plans, forecasts, and other expectations, and identify and realize additional opportunities; and (xxvi) the risks of downturns and a changing regulatory landscape in the highly competitive and evolving industry in which AEye operates. These risks and uncertainties may be amplified by the COVID-19 pandemic, including the Delta, Omicron and future variants, which has caused significant economic uncertainty. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Quarterly Report on Form 10-Q that AEye filed with the U.S. Securities and Exchange Commission (the “SEC”) and other documents filed by AEye or that will be filed by AEye from time-to-time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made.

Readers are cautioned not to put undue reliance on forward-looking statements; AEye assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye gives no assurance that AEye will achieve any of its expectations.