Reported Earnings • Nov 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.73 loss per share (further deteriorated from US$0.71 loss in 3Q 2023). Revenue: US$547.0k (down 86% from 3Q 2023). Net loss: US$11.8m (loss widened 4.2% from 3Q 2023). Revenue missed analyst estimates by 78%. Earnings per share (EPS) also missed analyst estimates by 43%. Revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electronic industry in the US. Major Estimate Revision • Aug 20
Consensus EPS estimates upgraded to US$1.14 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$21.0m to US$19.3m. 2024 losses expected to reduce from -US$1.61 to -US$1.14 per share. Electronic industry in the US expected to see average net income growth of 19% next year. Consensus price target of US$3.17 unchanged from last update. Share price was steady at US$3.07 over the past week. Reported Earnings • Aug 13
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: US$0.011 (up from US$0.90 loss in 2Q 2023). Revenue: US$10.4m (up 274% from 2Q 2023). Net income: US$181.0k (up US$14.4m from 2Q 2023). Profit margin: 1.7% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 62% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electronic industry in the US. Announcement • Jul 29
Koito Manufacturing Co., Ltd. (TSE:7276) entered into a definitive agreement to acquire Cepton, Inc. (NasdaqCM:CPTN) from Koito Manufacturing Co., Ltd. (TSE:7276) and others for $55.3 million. Koito Manufacturing Co., Ltd. (TSE:7276) entered into a definitive agreement to acquire Cepton, Inc. (NasdaqCM:CPTN) from Koito Manufacturing Co., Ltd. (TSE:7276) and others for $55.3 million on July 29, 2024. The shareholders will receive $3.17 per share. Cepton will be required to pay a termination fee to Parent equal to $1,250,000. Koito will be required to pay a reverse termination fee to the Company equal to $5,000,000. The transaction was approved by Koito's board and shall cause shall cause Holdco, in its capacity as the sole stockholder of Merger Sub, to approve the adoption of this Agreement. The transaction was approved unanimously by Cepton's board or directors on the recommendation of Special Committee. The transaction is subject to the approval of Cepton's shareholders. The transaction is subject to the CFIUS Approval. Price Target Changed • Jul 24
Price target decreased by 28% to US$6.59 Down from US$9.13, the current price target is an average from 2 analysts. New target price is 168% above last closing price of US$2.46. Stock is down 64% over the past year. The company is forecast to post a net loss per share of US$1.61 next year compared to a net loss per share of US$3.08 last year. New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$10m net loss in 3 years). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (US$40.1m market cap). Major Estimate Revision • May 20
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$19.0m to US$21.0m. Forecast losses expected to reduce from -US$2.50 to -US$1.61 per share. Electronic industry in the US expected to see average net income growth of 16% next year. Consensus price target of US$9.06 unchanged from last update. Share price fell 7.0% to US$2.81 over the past week. Reported Earnings • May 15
First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2024 results: US$0.43 loss per share (improved from US$0.94 loss in 1Q 2023). Revenue: US$1.95m (up 31% from 1Q 2023). Net loss: US$6.83m (loss narrowed 54% from 1Q 2023). Revenue missed analyst estimates by 52%. Earnings per share (EPS) exceeded analyst estimates by 36%. Revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electronic industry in the US. Announcement • May 15
Cepton, Inc. Provides Earnings Guidance for the Full Year 2024 Cepton, Inc. provided earnings guidance for the full year 2024. For the year, the company expects Full year revenue is expected to be between $15 to $25 million. New Risk • May 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$49m Forecast net loss in 3 years: US$5.1m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$5.1m net loss in 3 years). Market cap is less than US$100m (US$48.2m market cap). Announcement • May 08
Cepton Unveils Proprietary End-To-End Lidar Simulator, Studioviz™ Cepton, Inc. announced the unveiling of its proprietary lidar simulation platform, StudioViz™. Developed by Cepton’s in-house software teams, StudioViz aims to streamline lidar adoption processes from productization to deployment, helping automotive Original Equipment Manufacturers (OEMs) expedite lidar-based advanced driver assistance systems (ADAS) and autonomous vehicle (AV) development at minimized implementation costs. StudioViz also offers a powerful tool to facilitate a broad spectrum of cutting-edge R&D initiatives in ADAS and AV by researchers and universities. StudioViz is designed and built to offer an array of functionalities, including: Virtual environment creation: StudioViz enables the creation of customized virtual elements to simulate real-world scenarios for testing lidar-based ADAS and AV use cases across urban and highway environments. High-fidelity lidar data visualization: The platform simulates data from Cepton’s comprehensive portfolio of lidar sensor models, including the long-range Ultra, medium-range Vista-X series and near-range Nova, to generate realistic 3D point clouds, facilitating insights into sensor behavior and system performance under various conditions. Placement optimization: Utilizing StudioViz, OEMs will be able to explore different placement options of Cepton’s lidar hardware, virtually integrating a single or multiple lidar sensors into different locations around a vehicle, supported by physics-based studies modeling sensor behavior at these locations. Sensor fusion assessment: Simulated lidar data from StudioViz can be integrated with other sensor simulations (such as camera) to evaluate sensor fusion results and assess the effectiveness of perception algorithms such as object detection, labeling and localization. Perception solution development: StudioViz generates accurate lidar data that can be annotated with ground truth information, such as object type and bounding boxes, to train, validate and refine perception algorithms for accurate vehicle and pedestrian detection, tracking and classification, lane and curb detection, path planning and ego-motion estimation. Manufacturing validation and scaling: StudioViz can utilize real-world sensor modeling, taking data from sensors at critical stages of manufacturing and calibration processes to enable comprehensive validation of sensor performance before reaching the customer, furthering Cepton's commitment to sustainable and scalable manufacturing for mass-market adoption.Utilizing StudioViz’s powerful simulation tools, OEMs and research entities will be able to accurately gauge the suitability of Cepton’s lidar solutions for their needs, custom integration plans and develop perception capabilities without substantial investments in hardware, installation and data acquisition, while reducing the need to build real-life testing scenarios that are sometimes challenging to reproduce due to constraints such as road infrastructure and weather conditions. Announcement • May 03
Cepton, Inc. to Report Q1, 2024 Results on May 13, 2024 Cepton, Inc. announced that they will report Q1, 2024 results After-Market on May 13, 2024 Major Estimate Revision • Apr 08
Consensus revenue estimates fall by 44% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$33.6m to US$19.0m. Forecast losses increased from -US$2.29 to -US$2.50 per share. Electronic industry in the US expected to see average net income growth of 12% next year. Consensus price target of US$9.06 unchanged from last update. Share price fell 3.5% to US$3.27 over the past week. Reported Earnings • Mar 31
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: US$3.08 loss per share (down from US$0.64 profit in FY 2022). Revenue: US$13.1m (up 76% from FY 2022). Net loss: US$48.5m (down US$57.9m from profit in FY 2022). Revenue exceeded analyst estimates by 24%. Earnings per share (EPS) also surpassed analyst estimates by 2.6%. Revenue is forecast to grow 45% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electronic industry in the US. Announcement • Mar 29
Cepton, Inc. Reports Loss on Impairment of Property and Equipment for the Three Months Ended December 31, 2023 Cepton, Inc. reported loss on impairment of property and equipment for the Three Months Ended December 31, 2023. For the period, the company reported loss on impairment of property and equipment of USD 387,000. Announcement • Mar 13
Cepton, Inc. to Report Q4, 2023 Results on Mar 28, 2024 Cepton, Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 28, 2024 Announcement • Jan 09
Cepton, Inc. Unveils of Its New Automotive Lidar, Ultra Cepton, Inc. announced the unveiling of its new automotive lidar, Ultra. Ultra is the world’s slimmest adaptive, long-range lidar, designed based on real OEM requirements for next-generation consumer vehicle ADAS and automated driving capabilities. It boasts Cepton’s latest innovation – MagnoSteer™ – to enable an unmatched combination of performance, power efficiency, and compactness: Maximum detection range: 300 m at 10% reflectivity; Angular resolution: 0.05° x 0.05° within regions of interest (ROI); Field of view: 120° (H) x 25° (V) maximum, software definable; Typical Power consumption: 12 W; Data rate: up to 3.8 million points per second; Size: 150 (W) x 24 (H) x 90 (D) mm. Ultra is by far the smallest, slimmest high-performance automotive lidar on the market today. Similar performing lidar systems are typically triple the volume and double the height. With its extremely compact form factor and power efficiency, Ultra is designed for seamless integration into various locations on a vehicle without the need for an additional cooling system. It can be embedded behind the windshield and into the roofline, the headlamps and the fascia, enabling high-precision perception for various automotive use cases. Ultra’s software definable field of view and ROIs enable adaptive perception capabilities to help the vehicle stay focused on high-priority objects. The ROIs are dynamically tunable, creating real-time zones around key objects, such as vehicles and pedestrians, making them stand out against background objects that do not require as many data points. This increases the overall energy efficiency of the automotive perception system without compromising precision. The MagnoSteer architecture also enables more advanced perception capabilities within a single-sensor architecture in the future. Major Estimate Revision • Nov 16
Consensus revenue estimates decrease by 34%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$17.1m to US$11.3m. EPS estimate increased from -US$3.58 to -US$2.93 per share. Electronic industry in the US expected to see average net income growth of 9.7% next year. Consensus price target down from US$20.80 to US$16.40. Share price fell 19% to US$3.08 over the past week. Announcement • Nov 12
Cepton, Inc. Provides Earnings Guidance for the Year 2023 Cepton, Inc. provided earnings guidance for the year 2023. Full year 2023 revenue is expected to be between $9 million and $11 million. Reported Earnings • Nov 12
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: US$0.71 loss per share (improved from US$1.12 loss in 3Q 2022). Revenue: US$3.83m (up 113% from 3Q 2022). Net loss: US$11.3m (loss narrowed 35% from 3Q 2022). Revenue missed analyst estimates by 25%. Earnings per share (EPS) exceeded analyst estimates by 20%. Revenue is forecast to grow 57% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Electronic industry in the US. Announcement • Oct 20
Cepton, Inc. to Report Q3, 2023 Results on Nov 09, 2023 Cepton, Inc. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Price Target Changed • Sep 28
Price target decreased by 7.6% to US$20.80 Down from US$22.50, the current price target is an average from 5 analysts. New target price is 437% above last closing price of US$3.87. Stock is down 79% over the past year. The company is forecast to post a net loss per share of US$3.58 compared to earnings per share of US$0.64 last year. Announcement • Sep 20
Cepton, Inc. Announces the Appointment of Mitch Hourtienne to Chief Commercial Officer Cepton, Inc. announced the appointment of Mitch Hourtienne to Chief Commercial Officer, overseeing the Company’s business growth and market success. In the newly created role, Mr. Hourtienne will continue to lead Cepton’s business development, product management and marketing teams to solidify the Company’s leadership in automotive and smart infrastructure markets and strengthen strategic partnerships with world-class industry leaders. Mr. Hourtienne joined Cepton in 2018 and played a pivotal role in establishing the Company’s center of excellence in Detroit, serving the automotive heartland with multi-decade expertise in OEM integration and sensor technology. Mr. Hourtienne’s contributions were also instrumental in securing Cepton’s ADAS lidar series production award with General Motors and in strengthening its partnership with Tier 1 supplier, Koito Manufacturing Co. Ltd. Prior to joining Cepton, Mr. Hourtienne amassed twenty years of experience winning and launching sensor product businesses in the automotive and semiconductor industries, having held positions in engineering, product management and business development at global leaders such as Sensata Technologies, Freescale Semiconductor, Infineon and Continental. Recent Insider Transactions • Aug 13
Co-Founder recently sold US$195k worth of stock On the 10th of August, Jun Pei sold around 250k shares on-market at roughly US$0.78 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jun has been a net seller over the last 12 months, reducing personal holdings by US$745k. Reported Earnings • Aug 08
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: US$0.09 loss per share (down from US$0.005 profit in 2Q 2022). Revenue: US$2.79m (up 8.9% from 2Q 2022). Net loss: US$14.2m (down US$15.0m from profit in 2Q 2022). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%. Revenue is forecast to grow 73% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electronic industry in the US. New Risk • Jul 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Announcement • Jul 14
Cepton, Inc. to Report Q2, 2023 Results on Aug 07, 2023 Cepton, Inc. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Aug 07, 2023 New Risk • Jul 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Major Estimate Revision • May 16
Consensus EPS estimates upgraded to US$0.34 loss, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$17.6m to US$16.9m. 2023 losses expected to reduce from -US$0.407 to -US$0.34 per share. Electronic industry in the US expected to see average net income growth of 3.8% next year. Consensus price target up from US$2.25 to US$2.35. Share price was steady at US$0.40 over the past week. Reported Earnings • May 11
First quarter 2023 earnings released: US$0.094 loss per share (vs US$0.36 profit in 1Q 2022) First quarter 2023 results: US$0.094 loss per share (down from US$0.36 profit in 1Q 2022). Net loss: US$14.7m (down 136% from profit in 1Q 2022). Revenue is forecast to grow 74% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electronic industry in the US. Announcement • May 05
Cepton, Inc. Announces Appointment of Luis Gonçalves as Director of Customer Programs Cepton, Inc. announced the addition of Luis Gonçalves to its Detroit team as Director of Customer Programs. In his new role at Cepton, Gonçalves will lead the Company’s Detroit automotive customer programs, enabling volume production ramp through Cepton’ s ADAS lidar program with lead OEM customer as well as future production awards from other automotive customers. He will oversee onsite support to ensure technical success, facilitate engineering change requests and implementation and drive cross-department collaboration to meet project execution goals. Gonçalves has 14 years of engineering experience in the automotive industry. Before joining Cepton, he spent 9 years at General Motors working as a Senior Lidar Development Engineer, Lidar Performance Engineer for Ultra Cruise, and most recently Engineering Leader of User Experience and Connectivity within GM’s Autonomous Vehicle Technology Program. Prior to GM, Gonçalves was a Quality Engineering Coordinator at Honda North America. Gonçalves has a B.S. in Mechanical Engineering from Michigan State University and a M.S. in Automotive Manufacturing Engineering from the University of Michigan. Major Estimate Revision • Apr 19
Consensus revenue estimates decrease by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$20.3m to US$17.5m. EPS estimate unchanged from -US$0.39 per share at last update. Electronic industry in the US expected to see average net income growth of 3.0% next year. Consensus price target of US$2.35 unchanged from last update. Share price fell 3.5% to US$0.41 over the past week. Major Estimate Revision • Mar 21
Consensus revenue estimates decrease by 26%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$27.5m to US$20.3m. EPS estimate increased from -US$0.457 to -US$0.387 per share. Electronic industry in the US expected to see average net income growth of 4.0% next year. Consensus price target down from US$3.44 to US$2.35. Share price fell 9.1% to US$0.46 over the past week. Recent Insider Transactions • Mar 19
Co-Founder recently sold US$270k worth of stock On the 16th of March, Jun Pei sold around 500k shares on-market at roughly US$0.54 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jun has been a net seller over the last 12 months, reducing personal holdings by US$550k. Reported Earnings • Mar 15
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$0.064 (up from US$1.36 loss in FY 2021). Net income: US$9.38m (up US$46.6m from FY 2021). Revenue missed analyst estimates by 9.8%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 61% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Electronic industry in the US. Recent Insider Transactions Derivative • Feb 26
Co-Founder & CTO notifies of intention to sell stock Mark McCord intends to sell 260k shares in the next 90 days after lodging an Intent To Sell Form on the 22nd of February. If the sale is conducted around the recent share price of US$1.16, it would amount to US$302k. Since March 2022, Mark has owned 10.41m shares directly. There has only been one transaction (US$280k sale) from insiders over the last 12 months. Recent Insider Transactions Derivative • Feb 19
Co-Founder notifies of intention to sell stock Jun Pei intends to sell 2m shares in the next 90 days after lodging an Intent To Sell Form on the 15th of February. If the sale is conducted around the recent share price of US$1.20, it would amount to US$1.8m. Since March 2022, Jun's direct individual holding has decreased from 30.17m shares to 29.18m. There has only been one transaction (US$280k sale) from insiders over the last 12 months. Announcement • Feb 15
Cepton, Inc. to Report Q4, 2022 Results on Mar 14, 2023 Cepton, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 14, 2023 Announcement • Jan 21
Cepton, Inc. announced that it has received $100 million in funding from Koito Manufacturing Co., Ltd. On January 19, 2023, Cepton, Inc. closed the transaction. Announcement • Jan 04
Cepton, Inc. Unveils New Lidar, Vista®-X120 Plus Cepton, Inc. announced the unveiling of its groundbreaking new lidar, the Vista®-X120 Plus. The Vista-X120 Plus is the slim software definable, top-end automotive lidar for real-time adaptive 3D perception. Embodying the automotive industry’s biggest trends – safety, autonomy, software definability and electrification – it packs Cepton’s next-generation innovations, enhancing lidar performance without compromising reliability, size, power efficiency and cost. This game-changing lidar has been recognized in the CES 2023 Innovation Award program in the Vehicle Tech & Advanced Mobility category and will be showcased at booth No. 5553, LVCC – West Hall during CES in Las Vegas, NV, from January 5, 2022 to January 8, 2023. The Vista-X120 Plus advances Cepton’s vision for mass-market lidar adoption. Expanding on Cepton’s commercially scalable Vista-X90 lidar, which will be deployed in the Company’s ADAS lidar series production program, the Vista-X120 Plus offers significantly higher performance and embeddability: a 500% increase in data rate, 30° wider field of view, over 20% reduction in size and 50% reduction in height. Featuring a software definable region of interest (ROI), the Vista-X120 Plus enables higher dynamic perception capabilities. Its tunable central field of view with increased angular resolution enables higher accuracy in the detection and classification of key objects in a given driving scenario. The ROI is configurable in real time in both horizonal and vertical directions, unlocking a higher level of intelligence and efficiency, while making the lidar sensor versatile and adaptive to various use cases – same hardware, flexible adoption. With a production size of 140 (W) x 30 (H) x 150 (D) mm, the Vista-X120 Plus offers an unparalleled combination of slimness, compactness and embeddability. Its footprint is ~50% slimmer and smaller than the competition, enabling greater OEM integration and placement options without disrupting vehicle appearance. At its <18 W power consumption, Vista-X120 Plus offers a 200 m range at 10% reflectivity, angular resolutions of 0.05° (ROI) and 0.1° (non-ROI), a 120° x 25° field of view and a data rate of over 6 million points per second. With a target price point below $500 for volume production, the automotive-grade Vista-X120 Plus is positioned for mass-market deployment. Building upon Cepton’s patented MMT® technology, it features an elegant precision opto-mechanical architecture with infinite mechanical life to maximize durability and reliability for automotive use. Its modular design and off-the-shelf components make it easily manufacturable in large volumes at low costs. Announcement • Dec 09
Cepton, Inc. to Unveil New Lidar and Showcase Automotive Integration At CES 2023 Cepton, Inc. announced additional details around its plans for the upcoming CES 2023, held in Las Vegas, NV, from January 5-8, 2023. Cepton’s booth (No. 5553, LVCC – West Hall) will feature a Chevy Silverado and a Ford F-150 equipped with the company’s latest vehicle integration solutions. Both of Cepton’s near-range and long-range automotive lidars will be seamlessly embedded into multiple locations around the vehicles, including the headlamps, fog lamps, side mirrors, front grille and tailgate. Booth visitors can expect to see one of the industry’s first full, in-vehicle integrations of lidar technology in automotive lighting systems. This solution features a combination of Cepton’s automotive lidars embedded within a vehicle’s headlamps and fog lamps to simultaneously enable near-range blind spot elimination and long-range obstacle detection. Combined with a fully integrated cleaning system from Koito Manufacturing Co. Ltd. During CES, Cepton will also unveil its next-generation automotive lidar, Vista®-X120 Plus. With an unprecedented combination of ultra slim and compact design, top-end performance and real-time adaptive 3D perception, Vista-X120 Plus is designed for both today’s consumer vehicles as well as the next generation – intelligent, electrified and software-defined. Cepton has been recognized by the CES 2023 Innovation Award program in the Vehicle Tech & Advanced Mobility category for this product. Cepton representatives will be available at CES 2023 to share additional details about Vista-X120 Plus, with product demonstrations available upon request. Cepton’s 3,000 sq ft booth will feature live demonstrations of its full suite of automotive lidar solutions as well as its collaborations with leading automotive partners. Two conference rooms are available to host meetings with Cepton CEO Dr. Pei, other members of the company’s leadership team, and a Koito delegation led by Mr. Takayuki Katsuda, Managing Corporate Officer of Koito. Mr. Katsuda is leading Koito's automotive technology solutions and previously served as the Chief Engineer at Toyota /Lexus. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 19% share price decline to US$1.36, the stock trades at a trailing P/E ratio of 15.4x. Average forward P/E is 15x in the Electronic industry in the US. Total loss to shareholders of 86% over the past year. Announcement • Nov 17
Cepton, Inc. to unveil Vista-X120 Plus at CES 2023 in Las Vegas, NV Cepton, Inc. announced that it has been recognized for its next-generation automotive lidar product, Vista®-X120 Plus, in the CES Innovation Award program as a 2023 honoree in the Vehicle Tech & Advanced Mobility category. Cepton will unveil Vista-X120 Plus at CES 2023 in Las Vegas, NV. The product will be showcased at Cepton’s booth (No. 5553, LVCC – West Hall) January 5-8, 2023. Customers can expect to learn more from a full product reveal shortly prior to the event. Vista-X120 Plus features an unprecedented combination of ultra slim and small form factor, top-end performance and real-time adaptive 3D perception. While unlocking the next level of perception capabilities to “see” finer objects, further away, Vista-X120 Plus continues to embody Cepton’s core competencies in achieving the right balance between automotive-grade reliability, seamless embeddability and cost efficiency to achieve mass-market scalability. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Vice Chairman of the Board & Secretary Winston Fu is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 09
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.11 loss per share. Net loss: US$17.4m (loss widened 122% from 3Q 2021). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 4.8%. Revenue is forecast to grow 94% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electronic industry in the US. Announcement • Nov 09
Cepton, Inc. Provides Earnings Guidance for the Year 2022 Cepton, Inc. provided earnings guidance for the year 2022. Full year 2022 revenue is still expected to be between $7 million to $9 million. Announcement • Oct 19
Cepton, Inc. to Report Q3, 2022 Results on Nov 08, 2022 Cepton, Inc. announced that they will report Q3, 2022 results After-Market on Nov 08, 2022 Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 44% share price gain to US$2.68, the stock trades at a trailing P/E ratio of 17.9x. Average forward P/E is 14x in the Electronic industry in the US. Total loss to shareholders of 73% over the past year. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 28% share price gain to US$2.09, the stock trades at a trailing P/E ratio of 13.9x. Average forward P/E is 14x in the Electronic industry in the US. Total loss to shareholders of 79% over the past year. Announcement • Aug 24
Cepton, Inc. to Showcase Lidar in Automotive Headlamp in Collaboration with ZKW at IAA Transportation 2022 Cepton, Inc. announced it will showcase a lidar integration solution for automotive headlamps at the upcoming IAA Transportation 2022 conference. The demonstration will be conducted in collaboration with ZKW Group GmbH, a specialist for premium lighting systems and electronics. From September 20th to 25th, 2022, at Booth B58 in Hall 12, Cepton will exhibit its Nova lidar integrated into a heavy-duty truck headlamp provided by ZKW. Visitors to the Cepton booth can also expect to see live demonstrations of Nova’s near-range 3D sensing capabilities, which are designed to help eliminate perception blind spots around automobiles. Cepton’s near-range lidar Nova features an unprecedented combination of miniature size, high resolution and superior field of view coverage in both vertical and horizontal directions. Its extremely compact form factor unlocks flexible, seamless integration options around the vehicle to provide 360° perception. This helps the vehicle accurately detect close-proximity objects such as pedestrians, bicycles and obstacles on the road surface. Powered by Cepton’s patented lidar technology and proprietary ASIC, Nova achieves unparalleled system and energy efficiency, making it suitable for everyday consumer and commercial vehicles, including electrical vehicles. With blind spot detection becoming a mandated vehicle safety feature, Nova offers an ideal solution for an expanding range of automotive applications. It can be deployed across Advance Driver Assistance Systems and Autonomous Vehicles to enhance the protection of vulnerable road users while enabling autonomous driving and parking capabilities. By working with ZKW, Cepton is able to demonstrate how Nova can be easily fitted into headlamps, a compelling location for lidar integration. The headlamp integration solution features discrete embedment, cleaning mechanism and sensor protection in a single package to offer maximized elegance and ease of maintenance. It also enables a dual sensor design for cut-in detection. Cepton’s patented lidar technology enables an optimal balance between performance, reliability and cost efficiency. Cepton offers a comprehensive portfolio of lidar solutions, including lidar sensors for near range to ultra-long range and intelligent perception solutions for automotive and smart infrastructure applications. Reported Earnings • Aug 10
Second quarter 2022 earnings released: EPS: US$0.005 (vs US$0.15 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.005 (up from US$0.15 loss in 2Q 2021). Net income: US$843.0k (up US$11.0m from 2Q 2021). Over the next year, revenue is forecast to grow 204%, compared to a 10.0% growth forecast for the industry in the US. Announcement • Aug 10
Cepton, Inc. Provides Earnings Guidance for the Full Year 2022 Cepton, Inc. provided earnings guidance for the Full Year 2022. For the period, the company expects revenue expected to be between $7 million to $9 million. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 20% share price gain to US$1.64, the stock trades at a trailing P/E ratio of 20.5x. Average forward P/E is 15x in the Electronic industry in the US. Total loss to shareholders of 83% over the past year. Announcement • Aug 02
Cepton, Inc. Appoints Dr. Liqun Han as Chief Operating Officer On July 27, 2022, the board of directors of Cepton, Inc. appointed Dr. Liqun Han as Chief Operating Officer of the Company, with such appointment to be effective on August 1, 2022. In this role, Dr. Han will serve as the principal operating officer of the Company. Dr. Han, age 53, previously served as the Company’s Senior Vice President of Operations from February 2022 until August 1, 2022, and served in such role for Cepton Technologies, Inc. from October 2016 to September 2020. Prior to joining Cepton Technologies, Inc., Dr. Han was Director of Engineering & Technology at KLA-Tencor, responsible for core technology innovation and new product introduction. Dr. Han received a Ph.D. in Applied Physics and a M.S. in Electrical Engineering from Stanford University, with a specialty in solid-state electronics and optics. Announcement • Jul 28
Cepton, Inc. to Report Q2, 2022 Results on Aug 08, 2022 Cepton, Inc. announced that they will report Q2, 2022 results After-Market on Aug 08, 2022 Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improved over the past week After last week's 17% share price gain to US$1.80, the stock trades at a trailing P/E ratio of 22.5x. Average forward P/E is 14x in the Electronic industry in the US. Total loss to shareholders of 82% over the past year. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 20% share price gain to US$1.54, the stock trades at a trailing P/E ratio of 19.3x. Average forward P/E is 14x in the Electronic industry in the US. Total loss to shareholders of 84% over the past year. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$1.92, the stock trades at a trailing P/E ratio of 24x. Average forward P/E is 16x in the Electronic industry in the US. Total loss to shareholders of 80% over the past year. Breakeven Date Change • May 14
No longer forecast to breakeven The 4 analysts covering Cepton no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$150.0k in 2024. New consensus forecast suggests the company will make a loss of US$150.0k in 2024. Board Change • May 14
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Vice Chairman of the Board & Secretary Winston Fu is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • May 02
Cepton, Inc. to Report Q1, 2022 Results on May 11, 2022 Cepton, Inc. announced that they will report Q1, 2022 results After-Market on May 11, 2022 Announcement • Apr 06
Cepton, Inc. Announces Executive Changes Cepton, Inc. announced the appointment of Hull Xu, the Company’s Vice President of Finance and Strategy, to the position of Chief Financial Officer, effective April 5, 2022. Mr. Xu will succeed Dr. Winston Fu, Ph.D., who will remain with the Company as an advisor on strategic projects. Dr. Fu will also remain on the board of directors and become Vice Chairman. Mr. Xu is a seasoned investment banker and electrical engineer by training. He has advised many public and private technology companies on capital markets and strategic transactions during his 13-year tenure at the Royal Bank of Canada and at Barclays Investment Bank. Announcement • Mar 07
Cepton Inc. Delivers Comprehensive Lidar Solution Portfolio Cepton Inc. announced the availability of a broadcast titled, “Lidar Leading the Way to Safe Self-Driving Cars.” Lidar is a technology for determining distances by targeting an object with a laser, bouncing the light off it, and measuring the time for the reflected light beam to return to the receiver. The data is then processed to create three-dimensional representations of the surrounding area. It’s like radar only using light waves that produce crisper scans. Many believe the approach to be integral to the future of autonomous vehicles because its qualities overcome shortcomings of cameras and radar used in AVs today. The combination of highly effective lidar and the geometric growth in the AV market has sparked an inferno of interest in lidar technology companies. A pioneer in the industry, Cepton Inc. has differentiated itself from peers with its innovative MMT (micro-motion) technology that overcomes challenges which have plagued the Advanced Driver Assistance Systems (ADAS) and AV markets related to performance, cost, reliability and vehicle integration. Cepton delivers a comprehensive lidar solution portfolio covering hardware and software, inclusive of proprietary state-of-the-art ASICs and key optoelectronic components. Announcement • Feb 15
Cepton, Inc. announced delayed 10-Q filing On 02/14/2022, Cepton, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Feb 12
Cepton, Inc. announced that it has received $58.5 million in funding from Koito Manufacturing Co., Ltd. On February 11, 2022, Cepton, Inc. closed the transaction. 