- Proven technology executive, Dr. Theodore L. Tewksbury, to join
Velodyne as Chief Executive Officer on November 10, 2021
- 35 total active multi-year agreements as of November 1,
2021
- More than 4,400 sensor units shipped
- Pipeline of 220 projects at November 1, 2021
- $324.5 million of cash and short-term investments on the
balance sheet at September 30, 2021
Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW), the leading lidar
company, known worldwide for its broad portfolio of breakthrough
lidar technologies, today announced financial results for its third
quarter ended September 30, 2021.
Business and Financial Metrics
- Units: Velodyne shipped a market leading more than 4,400 sensor
units in the third quarter of 2021. The company also continued its
leadership position in solid state sensor sales with more than 630
sensors sold.
- Agreements: 35 total active multi-year agreements as of
November 1, 2021.
- Pipeline Strength: Velodyne’s multi-year agreement pipeline of
projects grew to 220 at November 1, 2021.
- Third quarter 2021 revenue of $13.1 million.
- Revised full year 2021 revenue guidance to range between $60
and $63 million.
- $324.5 million of cash and short-term investments on the
balance sheet at September 30, 2021.
Drew Hamer, CFO of Velodyne Lidar, commented, “We are very
excited that Dr. Theodore L. Tewksbury, a proven technology
executive, will be joining Velodyne on November 10th as our Chief
Executive Officer. We believe his extensive leadership experience
in addition to his engineering expertise will be instrumental in
extending our technology and manufacturing leadership and
geographic footprint in the lidar industry.
“The use of lidar today in our served markets and emerging
target markets continues to gain momentum. We are moving into the
first wave of mass commercialization, in certain markets such as
Industrial and Robotics, as demonstrated by the larger volumes of
product ordered by our customers, who are now expecting consistency
of performance across and within our various product lines. This is
a natural evolution from the R&D purchases our customers have
done with us historically, where test samples were acceptable. As
we prepare for large scale volume purchases to satisfy customer
demands predicting linearity of shipping orders is uncertain but
not indicative of our view of the growing market opportunity. With
a robust balance sheet, we are focused on accelerating roadmap
improvements in commercial and engineering execution to provide for
our customers at the level and consistency of quality we, as the
global lidar leader, can deliver. We expect to ship approximately
4,000 sensors in the fourth quarter, for a full year total of over
15,000, which would be up approximately 28% as compared to the full
year 2020.
“At Velodyne, we are demonstrating how lidar-based autonomous
technology is changing and shaping automotive and industrial
sectors and helping create sustainable and efficient
infrastructure. We believe we are the only lidar company today,
through our hardware and software solutions, that can provide a
full circle of autonomy and safety. We continue to work toward
long-term stakeholder value through our mission to democratize
lidar-based safety and autonomy.”
Since the company’s earnings call in August, Velodyne announced
multiple key business developments and operational developments
which affirm the company’s ongoing success and support its
long-term outlook:
Operational
- Dr. Theodore L. Tewksbury will join Velodyne as its Chief
Executive Office on November 10, 2021. Tewksbury is a proven
technology executive with more than 30 years of leadership
experience across a series of public and private companies.
- Virginia Boulet was appointed to Velodyne’s Board of Directors.
A corporate governance expert, Boulet brings to the company more
than 30 years of experience in corporate and securities law at New
Orleans’ three largest firms, more than 22 years of experience
serving on public boards and many years of experience teaching
corporate and securities law at Loyola Law School.
Business
- The University of California, Irvine selected Velodyne’s
Intelligent Infrastructure Solution, or IIS, for its Smart Cities
Initiative. IIS will be used at 25 intersections as part of a $6
million road network project in Irvine, California.
- TOPODRONE, which is based in Switzerland and develops
affordable, high-precision solutions for aerial surveys, signed a
multiyear agreement for Velodyne’s sensors to be used for
high-precision mapping and 3D modeling in demanding environments
including farms, forests, infrastructure and more to support
development that advances economic and sustainability goals.
- AGM Systems has deployed the Alpha Prime lidar sensor on the
AGM-MS5.Prime, AGM’s latest high-performance mobile scanning
solution. This is the second sensor type AGM Systems has purchased
from Velodyne.
- MOV.AI is collaborating with Velodyne to provide robot
manufacturers with enterprise-grade automation solutions, including
mapping, navigation, obstacle avoidance and risk avoidance.
- Announced Renu Robotics signed a multiyear agreement for
Velodyne’s Puck™ Sensors to revolutionizing vegetation management
for solar energy facilities.
Financial Highlights
- Third Quarter Revenue: Total revenue of $13.1 million
compared to $13.6 million in the second quarter of 2021. Product
revenue was $11.8 million compared to $12.0 million in the second
quarter of 2021. The overall product revenue was slightly down due
to a combination of lower weighted average ASP than the prior
quarter reflecting the ongoing evolution of the company’s product
mix toward consumer affordable solid-state sensors and the
company’s decision to standardize quality across and within its
product lines, crucial for its customers as they ramp toward mass
commercialization. License and services revenue of $1.3 million
compared to $1.6 million in the second quarter of 2021.
- Third Quarter Gross Loss: GAAP gross loss was $4.7
million and non-GAAP gross loss was $4.2 million, compared to a
second quarter 2021 GAAP gross loss of $5.8 million and non-GAAP
gross loss of $5.3 million. Both the third and second quarter’s
GAAP gross loss included $0.5 million of stock-based compensation
expense, including employer taxes.
- Third Quarter Operating Expenses: GAAP operating
expenses of $50.0 million and non-GAAP operating expenses of $33.4
million. Second quarter 2021 GAAP operating expenses were $83.3
million and non-GAAP operating expenses were $28.8 million. GAAP
operating expenses included $16.3 million of stock-based
compensation expense, including employer taxes, compared to second
quarter 2021 GAAP operating expenses that included $53.6 million of
stock-based compensation expense.
- Third Quarter Net Loss and EPS: GAAP net loss was $54.7
million and non-GAAP net loss was $37.5 million. GAAP net loss per
share was $0.28 and non-GAAP net loss per share was $0.19. This
compared to a second quarter of 2021 GAAP net loss of $79.2 million
and non-GAAP net loss of $34.4 million. Second quarter of 2021 GAAP
net loss per share was $0.41 and non-GAAP net loss per share was
$0.18.
- Shares Outstanding: EPS for the third quarter of 2021 is
calculated using weighted average shares outstanding of 196.2
million. As of September 30, 2021, actual shares outstanding were
195.9 million.
- Liquidity: Velodyne completed the quarter with $324.5
million in cash and short-term investments on its balance
sheet.
- Nine Months Revenue: Total revenue for the nine-month
period ended September 30, 2021, was $44.4 million, comprised of
$34.3 million in product revenue and $10.0 million in license and
services revenue. This compares to $77.5 million in the nine-month
period ended September 30, 2020, of which $53.9 million was product
revenue, including a one-time $11 million stocking fee, and $23.6
million was license and services revenue.
- Nine Months Net Loss: GAAP net loss for the nine-month
period ended September 30, 2021, was $174.8 million and non-GAAP
net loss was $98.0 million. This compares to a GAAP net loss of
$38.4 million for the nine-month period ended September 30, 2020,
and $45.0 million in non-GAAP net loss.
A reconciliation between historical GAAP and non-GAAP
information is provided in the tables below.
Business Outlook and 2021 Guidance
“As we are refining our engineering and production processes to
meet customer expectations for consistency of performance, in the
third quarter we shifted approximately $4.3 million of product
sales out to the fourth quarter of 2021 and first quarter of 2022.
We now expect our full year 2021 revenue guidance to range between
$60 million and $63 million, which does not include any
contribution in the fourth quarter from non-recurring engineering
fees,” concluded Hamer.
For the full year of 2021,
- Revenue is now expected to range between $60 and $63 million,
driven by shipments of product to the company’s global customer
base. There are no non-recurring engineering (NRE) fees included in
the forecast, and contribution from these efforts would be upside
to the guidance range.
- The company expects to produce and ship more than 15,000
sensors, up approximately 28% compared to 2020.
- Non-GAAP Gross margins are expected to range between negative
8% and 10%. This reflects weighted ASP and volume mix, and the
delay in moving manufacturing offshore. On a GAAP basis, gross
margins will include approximately $2.3 million of stock-based
compensation expense.
- On a non-GAAP basis, operating expenses are expected to range
between $125 and $129 million. General and administrative expenses
are expected to increase by approximately 55% in 2021 due to
increased public company and legal expenses. On a GAAP basis,
operating expense will include approximately $89 million of
stock-based compensation expense.
- On a GAAP basis, income tax expense is anticipated to be
approximately $800,000.
- Weighted average shares outstanding for the year are estimated
to be 193.9 million.
The company remains on track to sign three more multiyear
agreements by December 31, 2021, bringing its total to 38 multiyear
agreements.
As of the end of the third quarter, Velodyne estimates that it
could have the opportunity for approximately $800 million of
revenue from signed and awarded projects through 2025. The company
estimates a pipeline of projects that are not yet signed and
awarded of $4.2 billion through 2025.
Conference Call Information
Velodyne will host a conference call and live webcast for
analysts and investors at 4:30 p.m. Eastern Time on November 4,
2021. Parties in the United States and Canada can access the call
by dialing 877-270-2148. The webcast will be accessible on
Velodyne’s investor relations website at
https://investors.velodynelidar.com. A telephonic replay of the
conference call will be available through November 11, 2021. To
access the replay, parties in the United States and Canada should
call 877-344-7529 and enter conference code 10161061.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding our financial outlook and market
positioning. Forward-looking statements give our current
expectations and projections relating to our financial condition,
results of operations, plans, objectives, future performance and
business. You can identify forward-looking statements by the fact
that they do not relate strictly to historical or current facts.
These statements may include words such as "anticipate",
"estimate", "expect", "project", "plan", "intend", "believe",
"may", "will", "should", "can have", "likely" and other words and
terms of similar meaning in connection with any discussion of the
timing or nature of future operating or financial performance or
other events. All forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ
materially from those that we expected, including: the impact on
our operations and financial condition from the effects of the
current COVID-19 pandemic both on Velodyne’s business and those of
its customers and suppliers; Velodyne’s ability to execute its
business plan; the timing of revenue from existing customers,
including uncertainties related to the ability of Velodyne’s
customers to commercialize their products and the ultimate market
acceptance of these products; uncertainties related to Velodyne
Lidar’s estimates of the size of the markets for its products and
future revenue opportunities, including projects that are not yet
signed or awarded; the rate and degree of market acceptance of
Velodyne Lidar’s products; the success of other competing lidar and
sensor-related products and services that exist or may become
available; rising costs adversely affecting Velodyne’s
profitability; uncertainties related to Velodyne Lidar’s current
litigation and potential litigation involving Velodyne Lidar or the
validity or enforceability of Velodyne Lidar’s intellectual
property; Velodyne Lidar’s ability to partner with and rely on
third party manufacturers; general economic and market conditions
impacting demand for Velodyne Lidar’s products and services; and
changes in applicable laws or regulations.
Given these factors, as well as other variables that may affect
Velodyne Lidar’s operating results, you should not rely on
forward-looking statements, assume that past financial performance
will be a reliable indicator of future performance, or use
historical trends to anticipate results or trends in future
periods. The forward-looking statements included in this press
release relate only to events as of the date hereof. Velodyne Lidar
undertakes no obligation to update or revise any forward-looking
statement as a result of new information, future events or
otherwise, except as otherwise required by law.
Non-GAAP Financial Measures
In addition to our results determined in accordance with
generally accepted accounting principles in the United States
(“GAAP”), we believe the non‑GAAP measures of non-GAAP gross profit
(loss), non-GAAP gross margin, non-GAAP operating expenses,
non‑GAAP operating loss, non-GAAP other income (expenses), non-GAAP
provision for (benefit from) income taxes, non-GAAP net loss,
non‑GAAP net loss per share, and Adjusted EBITDA are useful in
evaluating our operating performance. Certain of these non-GAAP
measures exclude stock-based compensation and related employer
payroll taxes, litigation settlements, gain from sale of
held-for-sale assets, write-off of deferred IPO costs, gain from
forgiveness of PPP loan, amortization of acquisition-related
intangibles assets, restructuring, and discrete tax items. We
believe that non‑GAAP financial information, when taken
collectively, may be helpful to investors because it provides
consistency and comparability with past financial performance and
assists in comparisons with other companies, some of which use
similar non‑GAAP information to supplement their GAAP results. The
non‑GAAP financial information is presented for supplemental
informational purposes only, and should not be considered a
substitute for financial information presented in accordance with
GAAP, and may be different from similarly‑titled non‑GAAP measures
used by other companies. Reconciliation tables of the most
comparable GAAP financial measures to the non-GAAP financial
measures are used in this press release. The impact of these items
in future periods is uncertain and depends on various factors.
Accordingly, a reconciliation for forward-looking non-GAAP
operating income is not available without unreasonable effort.
About Velodyne Lidar, Inc.
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of
autonomous technology with the invention of real-time surround view
lidar sensors. Velodyne, the global leader in lidar, is known for
its broad portfolio of breakthrough lidar technologies. Velodyne’s
revolutionary sensor and software solutions provide flexibility,
quality and performance to meet the needs of a wide range of
industries, including autonomous vehicles, advanced driver
assistance systems (ADAS), robotics, unmanned aerial vehicles
(UAV), smart cities and security. Through continuous innovation,
Velodyne strives to transform lives and communities by advancing
safer mobility for all. For more information, visit
www.velodynelidar.com.
VELODYNE LIDAR, INC. AND
SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands)
September 30,
December 31,
2021
2020
(Unaudited)
Assets
Current assets:
Cash and cash equivalents
$
57,144
$
204,648
Short-term investments
267,395
145,636
Accounts receivable, net
9,576
13,979
Inventories, net
11,860
18,132
Prepaid and other current assets
10,862
22,319
Total current assets
356,837
404,714
Property, plant and equipment, net
14,088
16,805
Goodwill
1,189
1,189
Intangible assets, net
338
627
Contract assets
10,148
8,440
Other assets
19,274
937
Total assets
$
401,874
$
432,712
Liabilities and Stockholders’
Equity
Current liabilities:
Accounts payable
$
4,325
$
7,721
Accrued expense and other current
liabilities
32,793
50,349
Contract liabilities
7,609
7,323
Total current liabilities
44,727
65,393
Long-term tax liabilities
563
569
Other long-term liabilities
28,950
25,927
Total liabilities
74,240
91,889
Commitments and contingencies
Stockholders’ equity:
Preferred stock
—
—
Common stock
20
18
Additional paid-in capital
816,710
656,717
Accumulated other comprehensive loss
(233
)
(230
)
Accumulated deficit
(488,863
)
(315,682
)
Total stockholders’ equity
327,634
340,823
Total liabilities and stockholders’
equity
$
401,874
$
432,712
VELODYNE LIDAR, INC. AND
SUBSIDIARIES
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS
(In thousands, except share
and per share data)
(Unaudited)
Three Months Ended
Nine Months Ended
September 30, 2021
June 30, 2021
September 30, 2020
September 30, 2021
September 30, 2020
Revenue:
Product
$
11,782
$
11,970
$
26,099
$
34,345
$
53,948
License and services
1,278
1,626
6,000
10,037
23,568
Total revenue
13,060
13,596
32,099
44,382
77,516
Cost of revenue:
Product
17,716
19,210
16,482
52,555
46,027
License and services
84
170
648
433
1,032
Total cost of revenue
17,800
19,380
17,130
52,988
47,059
Gross profit (loss)
(4,740
)
(5,784
)
14,969
(8,606
)
30,457
Operating expenses:
Research and development
20,221
17,009
10,535
55,608
39,653
Sales and marketing
6,547
47,176
4,126
60,798
12,798
General and administrative
23,271
19,133
10,579
59,440
26,942
Gain on sale of assets held-for-sale
—
—
(7,529
)
—
(7,529
)
Restructuring
—
—
—
—
1,043
Total operating expenses
50,039
83,318
17,711
175,846
72,907
Operating loss
(54,779
)
(89,102
)
(2,742
)
(184,452
)
(42,450
)
Interest income
109
109
2
321
119
Interest expense
(6
)
(41
)
(31
)
(83
)
(69
)
Other income (expense), net
(22
)
10,136
38
10,097
(105
)
Loss before income taxes
(54,698
)
(78,898
)
(2,733
)
(174,117
)
(42,505
)
Provision for (benefit from) income
taxes
14
339
2,562
649
(4,098
)
Net loss
$
(54,712
)
$
(79,237
)
$
(5,295
)
$
(174,766
)
$
(38,407
)
Net loss per share:
Basic and diluted
$
(0.28
)
$
(0.41
)
$
(0.04
)
$
(0.91
)
$
(0.28
)
Weighted-average shares used in computing
net loss per share:
Basic and diluted
196,204,671
193,002,807
140,490,370
192,835,674
139,425,745
VELODYNE LIDAR, INC. AND
SUBSIDIARIES
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Three Months Ended
Nine Months Ended
September 30, 2021
September 30, 2020
September 30, 2021
September 30, 2020
Cash flows from operating
activities:
Net loss
$
(54,712
)
$
(5,295
)
$
(174,766
)
$
(38,407
)
Adjustments to reconcile net loss to cash
used in operating activities:
Depreciation and amortization
2,094
2,091
6,208
6,342
Reduction in carrying amount of ROU
assets
755
—
2,288
—
Write-off of deferred IPO costs
—
3,548
—
3,548
Stock-based compensation
16,645
85
81,370
241
Gain on sale of assets held-for-sale
—
(7,529
)
—
(7,529
)
Provision for doubtful accounts
(355
)
16
2,070
525
Gain from forgiveness of PPP loan
—
—
(10,124
)
—
Accretion on short-term investments
1,075
—
1,075
—
Other
(577
)
4
(27
)
74
Changes in operating assets and
liabilities:
Accounts receivable, net
(10
)
15,847
2,072
(8,067
)
Inventories, net
4,816
1,134
6,273
3,329
Prepaid and other current assets
(630
)
(429
)
2,882
2,510
Contract assets
229
—
(2,209
)
(8,439
)
Other assets
61
94
67
358
Accounts payable
(1,672
)
2,543
(3,352
)
3,188
Accrued expenses and other liabilities
6,838
(306
)
(2,323
)
(9,812
)
Contract liabilities
(2,004
)
(8,885
)
(1,740
)
2,512
Net cash provided by (used in) operating
activities
(27,447
)
2,918
(90,236
)
(49,627
)
Cash flows from investing
activities:
Purchase of property, plant and
equipment
(1,434
)
(474
)
(3,213
)
(2,197
)
Proceeds from sale of assets
held-for-sale
—
12,275
—
12,275
Proceeds from sales of short-term
investments
10,207
—
12,207
—
Proceeds from maturities of short-term
investments
59,280
—
115,223
2,200
Purchase of short-term investments
(59,581
)
—
(249,957
)
—
Investment in notes receivable
—
—
(750
)
—
Net cash provided by (used in) investing
activities
8,472
11,801
(126,490
)
12,278
Cash flows from financing
activities:
Proceeds from issuance of preferred stock,
net of issuance costs
—
—
—
19,919
Payment of transaction costs related to
Business Combination
—
248,303
(20,005
)
248,303
Repurchase of common stock
—
(1,801
)
—
(1,801
)
Proceeds from warrant exercises, net of
$52 issuance costs paid
26
—
89,270
—
Tax withholding payment for vested equity
awards
—
—
(37
)
—
Cash paid for IPO costs
—
52
—
(1,144
)
Proceeds from notes payable
—
—
—
10,000
Net cash provided by financing
activities
26
246,554
69,228
275,277
Effect of exchange rate fluctuations on
cash and cash equivalents
9
(49
)
(6
)
(79
)
Net increase (decrease) in cash and
cash equivalents
(18,940
)
261,224
(147,504
)
237,849
Beginning cash and cash
equivalents
76,084
36,629
204,648
60,004
Ending cash and cash
equivalents
$
57,144
$
297,853
$
57,144
$
297,853
VELODYNE LIDAR, INC. AND
SUBSIDIARIES
RECONCILIATION OF GAAP TO
NON-GAAP FINANCIAL MEASURES
(In thousands, except share
and per share data)
(Unaudited)
Three Months Ended
Nine Months Ended
September 30, 2021
June 30, 2021
September 30, 2020
September 30, 2021
September 30, 2020
Gross profit (loss) on GAAP
basis
$
(4,740
)
$
(5,784
)
$
14,969
$
(8,606
)
$
30,457
Gross margin on GAAP basis
(36
)%
(43
)%
47
%
(19
)%
39
%
Stock-based compensation and related
employer payroll taxes
545
451
2
1,807
2
Gross profit (loss) on non-GAAP
basis
$
(4,195
)
$
(5,333
)
$
14,971
$
(6,799
)
$
30,459
Gross margin on non-GAAP basis
(32
)%
(39
)%
47
%
(15
)%
39
%
Operating expenses on GAAP
basis
$
50,039
$
83,318
$
17,711
$
175,846
$
72,907
Stock-based compensation and related
employer payroll taxes
(16,262
)
(53,625
)
(83
)
(83,233
)
(239
)
Legal settlements
(275
)
(795
)
—
(1,520
)
(2,479
)
Write-off of deferred IPO costs
—
—
(3,548
)
—
(3,548
)
Amortization of acquisition-related
intangible assets
(96
)
(96
)
(96
)
(288
)
(288
)
Restructuring charges
—
—
—
—
(1,043
)
Operating expenses on non-GAAP
basis
$
33,406
$
28,802
$
13,984
$
90,805
$
65,310
Operating loss on GAAP basis
$
(54,779
)
$
(89,102
)
$
(2,742
)
$
(184,452
)
$
(42,450
)
Stock-based compensation and related
employer payroll taxes
16,807
54,076
85
85,040
241
Legal settlements
275
795
—
1,520
2,479
Gain from sale of held-for-sale assets
—
—
(7,529
)
—
(7,529
)
Write-off of deferred IPO costs
—
—
3,548
—
3,548
Amortization of acquisition-related
intangible assets
96
96
96
288
288
Restructuring charges
—
—
—
—
1,043
Operating loss on non-GAAP
basis
$
(37,601
)
$
(34,135
)
$
(6,542
)
$
(97,604
)
$
(42,380
)
Other income (expense), net
$
(22
)
$
10,136
$
22
$
10,097
$
(105
)
Gain from forgiveness of PPP loan
—
(10,124
)
—
(10,124
)
—
Other income (expense), net on non-GAAP
basis
$
(22
)
$
12
$
22
$
(27
)
$
(105
)
Provision for (benefit from) income
taxes on GAAP basis
$
14
$
339
$
17
$
649
$
(4,098
)
Non-GAAP tax reconciling adjustments
—
—
—
—
6,679
Provision for income taxes on non-GAAP
basis
$
14
$
339
$
17
$
649
$
2,581
Net loss on GAAP basis
$
(54,712
)
$
(79,237
)
$
(5,295
)
$
(174,766
)
$
(38,407
)
Stock-based compensation and related
employer payroll taxes
16,807
54,076
85
85,040
241
Legal settlements
275
795
—
1,520
2,479
Gain from sale of held-for-sale assets
—
—
(7,529
)
—
(7,529
)
Write-off of deferred IPO costs
—
—
3,548
—
3,548
Amortization of acquisition-related
intangible assets
96
96
96
288
288
Restructuring charges
—
—
—
—
1,043
Gain from forgiveness of PPP loan
—
(10,124
)
—
(10,124
)
—
Non-GAAP tax reconciling adjustments
—
—
—
—
(6,679
)
Net loss on non-GAAP basis
$
(37,534
)
$
(34,394
)
$
(9,095
)
$
(98,042
)
$
(45,016
)
Net loss per share on GAAP
basis
Basic and diluted
$
(0.28
)
$
(0.41
)
$
(0.04
)
$
(0.91
)
$
(0.28
)
Weighted-average shares on GAAP
basis
Basic and diluted
196,204,671
193,002,807
140,490,370
192,835,674
139,425,745
Net loss per share on non-GAAP
basis
Basic and diluted
$
(0.19
)
$
(0.18
)
$
(0.06
)
$
(0.51
)
$
(0.32
)
Weighted-average shares on non-GAAP
basis
Basic and diluted
196,204,671
193,002,807
140,490,370
192,835,674
139,425,745
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211104006227/en/
Investor Contact: Andrew Chan Head of Investor Relations
InvestorRelations@velodyne.com
Media Contact: Codeword Liv Allen
velodyne@codeword.com
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