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Velodyne Lidar, Inc.NasdaqGS:VLDR Stock Report

Market Cap US$300.2m
Share Price
n/a
US$1.77
n/aintrinsic discount
1Y-70.4%
7D-8.7%
1D
Portfolio Value
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Velodyne Lidar, Inc.

NasdaqGS:VLDR Stock Report

Market Cap: US$300.2m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Velodyne Lidar (VLDR) Stock Overview

Velodyne Lidar, Inc. provides real-time 3D vision for autonomous systems worldwide. More details

VLDR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health5/6
Dividends0/6

Rewards

Trading at 28.7% below our estimate of its fair value

Revenue is forecast to grow 38.99% per year

Risk Analysis

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year

Volatile share price over the past 3 months

Currently unprofitable and not forecast to become profitable over the next 3 years


VLDR Community Fair Values

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Velodyne Lidar, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Velodyne Lidar
Historical stock prices
Current Share PriceUS$1.26
52 Week HighUS$4.44
52 Week LowUS$0.71
Beta1.45
1 Month Change24.75%
3 Month Change21.15%
1 Year Change-70.35%
3 Year Change-87.67%
5 Year Changen/a
Change since IPO-86.76%

Recent News & Updates

Recent updates

Seeking Alpha • Oct 18

Velodyne Lidar signs multi-year agreement with Visimind

Velodyne Lidar (NASDAQ:VLDR) shares gained ~2% Tuesday morning after the lidar technology company signed a multi-year agreement with Swedish company Visimind Group to offer integrated solutions to customers in the EMEIA region. The partnership will provide mapping and vegetation management, powered by Velodyne’s lidar technology. This agreement further strengthens the long-standing partnership between Visimind and Velodyne Lidar (VLDR), including a three-year supply deal for Puck and Ultra Puck lidar sensors, with shipping already underway.
Seeking Alpha • Sep 09

Velodyne Lidar: Not So Horrible

Summary Velodyne Lidar continues to report far better results than inherent in the $1 stock price. The Lidar sensor supplier has a large order book with up to 40 multi-year agreements in place, but the company no longer provides the estimates. The stock is too cheap with a market cap of only $250 million. Velodyne Lidar (VLDR) has had a horrible couple of years or so since going public via a SPAC. The Lidar sensor company has changed the CEO and seen the founding shareholder unload his stock at prices below $1.50, yet the Lidar sensor business could still bloom. My investment thesis remains Bullish on the stock, but investors need high levels of risk tolerance to remain invested here. Limited Projections With Ted Tewksbury taking over the company at the end of last year, Velodyne Lidar quit providing financial projections of the business beyond the next quarter. The company regularly had high financial targets for a few years out and the current lack of details on customer agreements is a prime reason the stock is down to $1 with a market cap of only $250 million. When the new CEO took over, Velodyne provided a list of 35 signed multi-year contracts and a pipeline with over 220 deals in the works. Mr. Tewksbury last said the company would start providing updated info by Q1'22 and the lack of such information is now hurting the stock despite clear progress with additional deals signed since the last disclosure for November 1. In addition, smaller industrial and robotic deals aren't always multi-year agreements making an order book comparison to automotive less meaningful. The founding CEO selling his shares hasn't helped one bit. The market no longer has confidence in Velodyne Lidar despite the ongoing progression with additional business in the industrial and robotic segment along with under the radar work with autonomous vehicles and robotaxi providers. For Q2, the company reported billings (adjusted revenues) of $12.5 million, up sequentially from $11.5 million in the prior quarter. Velodyne Lidar guided to Q3 revenues for $10 to $12 million with billings held back by ongoing supply chain issues. On the Q2'22 earnings call, the CEO let this statement slip indicating a much stronger future than predicted by some mundane figures otherwise provided by the company: Again, the strength is coming from industrial and robotics as well as the intelligent infrastructure with continuing contributions from AVs. And yes, let me just emphasize that we're going into Q3 with enormous demand and enormous backlog. And the only thing that's holding revenue growth back right now is supply. And as I explained earlier, we are well underway in redesigning our Pucks to use new FPGAs, which we expect to get us out of this company specific supply constrained by the end of the year. While founder David Hall clearly isn't happy with Velodyne Lidar, the company still has an important position in the Lidar market with a huge customer backlog mostly unaltered from prior large projections. The company no longer announces the backlog figures, but the Lidar sensor firm clearly has a deal with Amazon (AMZN) and signed contracts with Baidu (BIDU) in the past. Velodyne Lidar doesn't discuss the firms working with test Lidar sensors from the company, but half of the revenues from Q2 were related to the AV segment. The automotive segment is where companies such as Luminar Tech. (LAZR) and Innoviz Tech. (INVZ) report massive backlogs, yet Velodyne is selling vastly more amounts of sensors into those segments now. After all, Innoviz Tech. only reported Q2 revenues of $1.8 million versus a backlog of $6+ billion. In essence, Velodyne Lidar reported over 3x the revenues of Innoviz from the automotive sector, yet Velodyne isn't viewed as a leader in the sector. Even more intriguing is the concept of Velodyne Lidar producing the necessary costing Lidar sensor to supply the AV market at a price point below $500. Per the CEO on the Q2'22 earnings call: With respect to passenger vehicles, as we've talked about in past calls, our discussions with OEMs and Tier 1's in the automotive industry and we've talked to all of them. The feedback has been loud and clear that prices have to come down below $500, preferably in the $300 to $400 range. And we have designs in progress right now that we expect to be ready for production when those markets materialize, which is probably still two or three years away. A one million unit annual deal quickly becomes a $500 million sales opportunity and a backlog of $2+ billion based on typical deals over 4 to 5 years. Big Market The company continues to promote large gains in Lidar markets with the market size reaching $5.7 billion by 2026. A lot of the existing market isn't even controlled by the public Lidar companies where total revenues are only around $100 million while the total revenues are already approaching $3 billion now.
Analysis Article • Sep 02

At US$1.18, Is It Time To Put Velodyne Lidar, Inc. (NASDAQ:VLDR) On Your Watch List?

Velodyne Lidar, Inc. ( NASDAQ:VLDR ), might not be a large cap stock, but it saw a significant share price rise of over...
Seeking Alpha • Jun 30

Velodyne Lidar: Drama Hasn't Helped Stock

Former CEO David Hall continues to unload shares no matter the stock price pressuring the stock lower. The Lidar sensor company reported a far better Q1'22 than viewed via the headlines. The stock now trades below cash with sector-leading bookings forecasts at ~$13 million in Q2'22. From patent lawsuits to a high profile fight with the founder, Velodyne Lidar (VLDR) has seen nothing but drama since going public. The stock couldn't even stay green after announcing a new multi-year agreement with Boston Dynamics. My investment thesis remains Bullish on the stock with this focus on non-automotive Lidar contracts. Not A Complete Disaster Just this week, founding CEO David Hall sold another 1.5 million shares for $1.85 million. Mr. Hall has regularly sold shares this year after disagreements with other executives led to his departure. The founder selling shares so aggressively has now pushed the stock down all the way to $1. Source: FINVIZ Even though the company hired Dr. Ted Tewksbury as the new CEO, Mr. Hall still doesn't appear happy with Velodyne Lidar. The new CEO is making good progress and building up the business functions outside of a firm solely focused on engineering. For Q1'22, the company reported bookings of $11.5 million. The reported revenue figure was only $6.2 million due to an adjustment related to the Amazon (AMZN) warrant agreement. Velodyne Lidar plans to use this bookings number as the sales figure going forward. The company sold 2,350 sensor units compared to 2,684 units last Q1, but the amount was highly impacted by supply chain constraints. Velodyne Lidar ended up hiking ASPs by 48% to account for the higher costs of supplies and the lower inventory. Either way, the picture of the quarterly report was far better than market views. The company now has a substantial amount of the product manufacturing in Thailand and only lacks FPGAs in order to boost sales focused on the industrial and robotic spaces. The reported numbers appear a far more disaster than the reality, as the $6.2 million reported figure painted a dire picture for a company leading the Lidar industry in sales after all of the SPAC deals closed. Velodyne Lidar guided to Q2'22 bookings of $12.0 to $14.0 million for a sequential increase of $0.5 to $2.5 million. The company is now using the bookings metric to better reflect the actual sales during the period due to the Amazon warrant accounting impact. For perspective, industry valuation leader Luminar Technologies (LAZR) only reported Q1'22 revenue of $6.9 million. Velodyne Lidar has a sales book of about double the company with a $2.5 billion market cap. Big Picture The weak quarterly revenues and drama with the founding CEO left investors with the view of a company falling apart. At the end of Q1, Velodyne Lidar still has more revenue than most of the Lidar sensor companies that went public combined. The company just announced a multi-year deal with Boston Dynamics and generated about a third of revenues from automotive deals with the likes of Motional. Velodyne Lidar doesn't get the same attention as other companies due to the lack of focus on automotive sectors with large announced deals on future orders. The new CEO stripped out the previous presentation highlighting a strong order book and backlog leading to more negative investor sentiment that these deals disappeared. In reality, Velodyne Lidar continues to build on this previous customer and project base. The most recent numbers had the company with an order backlog of up to $800 million through 2025 based on 35+ signed and awarded multi-year deals. Velodyne Lidar was forecast to reach $400+ million in revenues by that year based on a project pipeline of 220 deals and $4.2 billion of potential orders. A lot in the industry have pushed out revenue estimates as Covid and now recession fears have delayed projects. As the new CEO discussed, the original projections provided competitors with too much detail on major contracts while the numbers didn't accurately reflect actual contracted orders.
Analysis Article • May 09

Newsflash: Velodyne Lidar, Inc. (NASDAQ:VLDR) Analysts Have Been Trimming Their Revenue Forecasts

Today is shaping up negative for Velodyne Lidar, Inc. ( NASDAQ:VLDR ) shareholders, with the analysts delivering a...
Seeking Alpha • Apr 10

Velodyne Lidar: A Two Buck Soap Opera

Today, we post our first research on a lidar sensor maker named Velodyne Lidar. The company has big growth plans, but litigation involving its founder has been a major headwind for this small cap concern. A full investment analysis follows in the paragraphs below.
Analysis Article • Mar 02

Newsflash: Velodyne Lidar, Inc. (NASDAQ:VLDR) Analysts Have Been Trimming Their Revenue Forecasts

One thing we could say about the analysts on Velodyne Lidar, Inc. ( NASDAQ:VLDR ) - they aren't optimistic, having just...
Seeking Alpha • Jan 25

Velodyne Lidar: Beaten To A Pulp

Velodyne Lidar has fallen all the way to $3 despite the company building a strong pipeline. The Lidar sensor space remains on a path for a huge sales ramp over the next few years. The stock only trades at ~1.5x more conservative '24 sales targets.
Seeking Alpha • Nov 05

Velodyne Will Look To Turnaround In 2022 With New CEO

Velodyne has struggled with production of late and the stock has ultimately faltered nearing 52-week lows. A new CEO will look to turn around production woes and the stock is as cheap as ever offering the potential to double over the long term if revenue growth can rebound. Support near the mid $5 range and a discounted valuation to peers give the impression that downside could be limited making VLDR an enticing opportunity for patient investors.
Seeking Alpha • Aug 10

Velodyne: First Mover Strength But Needs To Master Production

Velodyne has pioneer status in developing LiDAR for vehicle safety and other purposes. However, this remains a highly competitive industry, with COVID impacting both the supply chain and sales. Despite being able to produce and sell more LiDAR sensors in the second quarter on a sequential basis, overall sales are still trailing 2020 figures. Also, gross margins are on the low side due to the production process not being optimized, with changes being brought by the new COO to address the issue. With its lower valuations and significant market potential relative to competitors, Velodyne should be on investors' watch-lists.
Analysis Article • Aug 09

Earnings Update: Velodyne Lidar, Inc. (NASDAQ:VLDR) Just Reported And Analysts Are Trimming Their Forecasts

It's shaping up to be a tough period for Velodyne Lidar, Inc. ( NASDAQ:VLDR ), which a week ago released some...

Shareholder Returns

VLDRUS ElectronicUS Market
7D-8.7%5.2%0.3%
1Y-70.4%104.1%26.2%

Return vs Industry: VLDR underperformed the US Electronic industry which returned -3.3% over the past year.

Return vs Market: VLDR underperformed the US Market which returned -10.3% over the past year.

Price Volatility

Is VLDR's price volatile compared to industry and market?
VLDR volatility
VLDR Average Weekly Movement13.8%
Electronic Industry Average Movement9.5%
Market Average Movement7.2%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.0%

Stable Share Price: VLDR's share price has been volatile over the past 3 months.

Volatility Over Time: VLDR's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
1983407Ted Tewksburywww.velodynelidar.com

Velodyne Lidar, Inc. provides real-time 3D vision for autonomous systems worldwide. It offers surround-view lidar for autonomous vehicles, drones, security, mobile robots, and mapping applications; and solid state lidar for advanced driver assistance systems and autonomous applications. The company also provides Vella Development Kit that provides access to lidar-based perception software paired with sensors; Intelligent Infrastructure Solution for monitoring traffic networks and public spaces to generate real-time data analytics and predictions for enhancing traffic and crowd flow efficiency; and Vella software solution, a data curation software platform.

Velodyne Lidar, Inc. Fundamentals Summary

How do Velodyne Lidar's earnings and revenue compare to its market cap?
VLDR fundamental statistics
Market capUS$300.24m
Earnings (TTM)-US$172.45m
Revenue (TTM)US$44.87m
6.7x
P/S Ratio
-1.7x
P/E Ratio

Is VLDR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
VLDR income statement (TTM)
RevenueUS$44.87m
Cost of RevenueUS$69.44m
Gross Profit-US$24.56m
Other ExpensesUS$147.89m
Earnings-US$172.45m

Last Reported Earnings

Sep 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.72
Gross Margin-54.75%
Net Profit Margin-384.34%
Debt/Equity Ratio0%

How did VLDR perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2023/02/14 18:10
End of Day Share Price 2023/02/10 00:00
Earnings2022/09/30
Annual Earnings2021/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Velodyne Lidar, Inc. is covered by 10 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tristan GerraBaird
Ruben RoyBenchmark Company
Michael FilatovBerenberg