VLDR - VLDR STOCK NEWS

Velodyne Lidar (NASDAQ: VLDR) reported its Q4 and full-year 2020 financial results, highlighting a total revenue of $17.8 million for Q4, down from $19.0 million in Q4 2019. The company shipped a record 4,237 lidar units in Q4. GAAP net loss was $111.5 million, reflecting significant stock-based compensation. For the full year, revenue decreased to $95.4 million from $101.4 million in 2019. However, Velodyne's project pipeline increased to 194 projects as of February 2021, and it estimates potential revenues exceeding $1 billion from signed projects through 2025.

Velodyne Lidar has appointed Hamid Zarringhalam, Corporate VP of Nikon, to its Board of Directors, effective immediately. Zarringhalam brings 35 years of expertise in technology and business development, having previously served as an observer on Velodyne's Board since 2018. Chairman Dr. Joseph Culkin highlighted Zarringhalam's experience in crafting strategies for competitive markets. Additionally, Christopher Thomas has transitioned to a Class II director seat. This move aims to strengthen Velodyne's relationship with Nikon and enhance its growth trajectory in the lidar market.

David Hall and Marta Thoma Hall, who control approximately 58.4% of Velodyne Lidar's outstanding stock, addressed recent changes to the Board of Directors following a February 19 ambush. They criticized the Board's decision to censure them based on a secret investigation, labeling it as an attack on corporate democracy. They expressed concerns that their removal seemed more like a power grab than pro-stockholder action. Hall emphasized their commitment to restoring integrity and plans to provide further updates soon.

Velodyne Lidar, Inc. (NASDAQ: VLDR) announces its participation in four key conferences this March. CEO Dr. Anand Gopalan and CFO Drew Hamer will lead presentations and investor meetings. The conferences include:

• Berenberg: Industrial Technologies Conference on March 2, 2021
• Berenberg: American Innovation Seminar on March 4, 2021, at 12:00 PM ET
• Truist Technology, Internet & Services Conference on March 9, 2021
• Baird 2021 Vehicle, Technology & Mobility Conference on March 10, 2021, at 11:30 AM ET

Investors can access the live webcast of the March 4 presentation on Velodyne’s investor relations website.

Velodyne Lidar has appointed Dr. Joseph B. Culkin as Chairman of the Board, following an investigation into the conduct of former Chairman David Hall and former employee Marta Thoma Hall, who both behaved inappropriately. Sally Frykman has been named Chief Marketing Officer, in addition to her role as Chief Communications Officer. The Board has expressed concerns regarding a nomination for a director candidate related to the Halls. Dr. Culkin, with a strong background in technology and business strategy, aims to advance Velodyne’s growth in the autonomous technology sector.

Velodyne Lidar, Inc. (NASDAQ: VLDR) will announce its fourth quarter and FY 2020 financial results on February 25, 2021, after market close. Management will hold a conference call at 1:30 p.m. PST (4:30 p.m. EST) to discuss the findings. Interested parties can join via a live call or webcast, with an archived version accessible later. Velodyne is known as the first pure-play lidar company, providing innovative sensor solutions for various industries, including autonomous vehicles and smart cities.

Velodyne Lidar (NASDAQ: VLDR) has secured a five-year sales agreement to supply Ultra Puck™ sensors to ThorDrive for their autonomous cargo and baggage tractors at Cincinnati / Northern Kentucky International Airport (CVG). This partnership aims to enhance safety and efficiency in airport operations, leveraging Velodyne's lidar technology for real-time object detection. ThorDrive's AVs, utilizing these sensors, have been operating in complex environments and are designed to function under various weather conditions. The deal underscores both companies' commitment to innovation in autonomous logistics.

Velodyne Lidar (Nasdaq: VLDR) announced the launch of a new digital learning series, Velodyne Lidar LIVE!, starting January 28, 2021. The series features industry experts discussing advancements in lidar technology and its applications in improving safety and mobility. Upcoming episodes include topics on smart city traffic monitoring and autonomous vehicle testing. This initiative aims to highlight the transformative potential of lidar in diverse sectors, enhancing community safety and operational efficiency.

Velodyne Lidar (Nasdaq: VLDR) has announced a strategic partnership with Beijing Trunk Technology Co., Ltd. to develop next-generation autonomous heavy trucks and accelerate driverless truck commercialization in China. The collaboration focuses on enhancing the object awareness and detection capabilities of unmanned trucks using Velodyne’s lidar technology. Trunk.Tech is recognized for its expertise in building SAE Level 4 driverless trucks. This partnership aims to improve logistics efficiency, enhance safety, and support the mass production of autonomous vehicles in compliance with safety regulations.