Cepton Technologies (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance Micro Motion Technology(RM) (“MMT”) lidar solutions, has reported its financial and business updates for the fourth quarter and full year ending Dec. 31, 2021. Highlights of the report included the company’s public listing in February 2022, which resulted in cash and available liquidity of $175 million. The report also noted that key production milestones have been completed with tier-1 partner Koito Manufacturing; those milestones support CPTN’s General Motors Ultra Cruise program. In addition, the company advanced engagements with four other top-10 automotive OEMs for mass-market vehicle adoption of Cepton lidars as well had discussions with all top-10 automotive OEMs for production vehicle programs. The company also received nine production awards and 126 total engagements with Smart Infrastructure customers. “Since founding Cepton in 2016, we have had the unwavering vision of enabling safe and autonomous transportation for everyone,” said Cepton cofounder and CEO Jun Pei in the press release. “Following many years of hard work, we made tremendous progress towards achieving this vision by securing the largest known ADAS series production award in the industry. We anticipate that 2022 will be a momentous year for Cepton as we accelerate our commercial success driven by industry leading lidar products that achieve the best balance between performance, reliability and cost. We are excited about the long-term opportunity given our competitive advantages and expect to see Cepton lidars in everyday vehicles in the not-too-distant future.”
To view the full press release, visit https://ibn.fm/JA932
About Cepton Technologies Inc.
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented Micro Motion Technology (“MMT”), Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability while enabling scalable and intelligent 3D perception solutions across industries. Cepton has been awarded the largest known ADAS lidar series production award in the industry to date, based on the number of vehicle models awarded, to support General Motors’ Ultra Cruise program. Cepton is also engaged with all other top-10 global OEMs. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high-performance, high-quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to the OEM and Tier 1-studded metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information about the company, visit www.Cepton.com.
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN
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