Cepton reports Q3 EPS (53c), consensus (36c)

Reports Q3 revenue $0.5M vs. $3.8M last year. “As we enter the fourth and final quarter of 2024, we are making significant strides in the commercialization of our lidar technology,” said Jun Pei, Cepton’s (CPTN) Co-Founder and CEO. “With an RFQ with a Top 10 global automotive OEM for our long-range lidar in its final stages and a growing pipeline of opportunities, we are well-positioned to further strengthen our leadership in the automotive lidar market. Additionally, the recently announced acquisition by Koito underscores our shared vision for long-term growth and innovation. As we work toward completing this transaction, our focus remains on executing our strategy, deepening OEM partnerships, and driving the adoption of our advanced lidar solutions across key industries.”