Cepton Inc Stock Price, News & Analysis

Cepton, Inc. (NASDAQ: CPTN) announced its next-generation automotive lidar, Vista®-X120 Plus, has been recognized in the CES Innovation Awards 2023 for Vehicle Tech & Advanced Mobility. The product, set to be unveiled at CES in Las Vegas from January 5-8, 2023, offers a compact design with enhanced performance and real-time 3D perception. This innovation aims to support the evolution of intelligent vehicles, aligning with Cepton's vision of making reliable lidar solutions accessible for safe and autonomous transportation.

Cepton, Inc. (CPTN) reported significant developments for Q3 2022, featuring a 171% increase in product revenue, totaling $1.8 million. The company secured a $100 million investment from Koito Manufacturing Co., which is expected to bolster future growth. Despite these positives, Cepton experienced a GAAP net loss of $17.4 million, widening from the prior year. The company anticipates full-year 2022 revenue between $7 million and $9 million, alongside operating expenses of $55 million to $65 million.

Cepton, Inc. (CPTN) has successfully completed a proof-of-concept project named “Periscope” in collaboration with ALP.Lab and TE Connectivity. This project utilizes high-performance lidar technology to extend a driver’s field of view and warn of unseen hazards, such as pedestrians, five seconds in advance. The initiative addresses critical road safety issues, with alarming statistics indicating a pedestrian is killed every 81 minutes in the U.S. The collaboration plans further testing to enhance the functionality of this innovative safety solution.

Cepton, Inc. (Nasdaq: CPTN), a leader in high performance lidar solutions, announced participation in the 13th Craig-Hallum Alpha Select Conference in New York on November 17, 2022. CEO Dr. Jun Pei and CFO Hull Xu will engage in one-on-one or group investor meetings at the event. Cepton focuses on lidar-based solutions for automotive, smart cities, and industrial applications, aiming to drive mainstream adoption of its patented technology. The company has secured crucial partnerships in the automotive sector, including a significant contract with General Motors.

Cepton, Inc. (CPTN) announced a $100 million investment from its long-term partner, Koito Manufacturing Co., to fund growth and scale lidar solutions. The investment, made via convertible preferred stock, is priced at $1,000 per share with a conversion price of $2.585, representing a 10% premium. This marks Koito's third investment since 2020, underlining their strong partnership and commitment to developing automotive sensor technologies. The deal is expected to close in Q1 2023, pending shareholder approvals.

Cepton, Inc. (CPTN) will announce its Q3 2022 financial results on November 8, 2022, after market close. A conference call and webcast will follow at 2:30 p.m. PT (5:30 p.m. ET). This update marks a significant moment for the company, a leader in high performance lidar solutions, which has recently secured a notable ADAS lidar production contract with Koito for General Motors. Cepton is engaging all top 10 global OEMs, highlighting its growing influence in the automotive lidar market.

Cepton, Inc. (Nasdaq: CPTN) has partnered with LidarSwiss Solutions GmbH to deploy drone-based lidar technology for infrastructure management and engineering design. Their integrated solution, featuring the Nano P60 system and Cepton's Sora lidar sensor, provides high-density 3D imaging capabilities. To date, the Nano P60 has been utilized across over twenty cities in Asia, Europe, and Australia for various mapping applications. The technology will be showcased at INTERGEO in Essen, Germany, from October 18 to 20, 2022.

Cepton (NASDAQ: CPTN) has been recognized as a leading innovator in the automotive technology sector by receiving the 'Automotive Sensor Hardware Solution of the Year' award for its Nova Lidar at the AutoTech Breakthrough Awards. The Nova Lidar enhances vehicle safety and supports autonomous driving capabilities with its compact design and low power consumption. This recognition highlights Cepton's contribution to improving near-range sensor technology, positioning the company alongside other industry giants like BMW and TOYOTA.

Cepton, Inc. (CPTN) announced a collaboration with NVIDIA to integrate Cepton lidar models into the NVIDIA DRIVE Sim platform. This collaboration aims to enhance the simulation capabilities for testing and validating autonomous driving technologies. Cepton's lidar extension will allow users to simulate various driving scenarios with high-fidelity models of both near-range and long-range sensors, facilitating design optimization and accelerating the deployment of lidar technologies in automotive applications.