VLDR - VLDR STOCK NEWS

Velodyne Lidar (Nasdaq: VLDR, VLDRW) announces the second season of its educational series, Velodyne Lidar LIVE!, starting March 25, 2022, at 10 a.m. PDT. This season features a range of topics on lidar technology's applications in transportation and robotics. The inaugural episode includes insights from Velodyne experts on the Velarray M1600 sensor and the Vella Development Kit (VDK), highlighting their contributions to autonomous technology. The series aims to engage industry professionals and improve public policy related to mobility.

David and Marta Hall, former executives and major stakeholders of Velodyne Lidar (NASDAQ: VLDR), issued an open letter urging the removal of Chairman Michael Dee and nominating three new board candidates. They criticized Dee for breaching fiduciary duties, manipulating director classes to evade re-election, and overseeing a 90% stock price drop. They highlighted dismal financial performance, including a $212 million net loss in 2021 and a 35% year-over-year revenue decline. The Halls aim to realign the board towards stockholder interests and foster innovation.

Eric Singer has retired from the Board of Velodyne Lidar, effective March 13, indicating confidence in the management led by CEO Ted Tewksbury. Singer will consult the company under a cooperation agreement to help identify a new independent director. In related news, David and Marta Hall have reduced their ownership from 42.9% to 10.1% after selling 45.8 million shares, which Velodyne believes negatively impacted stock prices. Velodyne is preparing for its upcoming Annual Meeting, where three new director nominations have been submitted.

Velodyne Lidar (NASDAQ: VLDR, VLDRW) has been chosen by Rüsselsheim, Germany, to implement its Intelligent Infrastructure Solution for monitoring truck traffic. This initiative aims to relieve congestion and reduce air and noise pollution by using 16 lidar-based monitoring stations to enforce a city-wide truck ban. The system ensures compliance with GDPR by capturing non-personalized vehicle data, and is expected to ease the burden on local law enforcement. Velodyne's solution combines advanced lidar sensors with AI technology to create a 3D map of urban traffic.

Velodyne Lidar (NASDAQ: VLDR, VLDRW) reported a strong Q4 2021, shipping over 4,900 sensor units, leading to record total shipments of 15,000 sensors for the year. The company achieved revenues of $17.5 million for Q4 and $61.9 million for the full year, marking an increase from Q3. Notably, Velodyne’s cash reserves stood at $294.4 million. However, the company faced a GAAP net loss of $37.5 million in Q4 and a total net loss of $212.2 million for 2021. Looking forward, Q1 2022 revenue is forecasted between $10 million and $12 million, excluding estimates related to Amazon warrant issuances.

Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW) announces its participation in several key conferences in March 2022. The Cowen’s 2nd Annual Mobility Disruption Conference will be on March 2, with a presentation at 12:00pm PT. Following this, Velodyne will attend the Berenberg Industrial Technologies Conference on March 3, and the 34th Annual ROTH Conference on March 15 in Dana Point, CA. Investors can access presentations and webcasts on the company’s investor relations website.

Velodyne Lidar (Nasdaq: VLDR, VLDRW) announced its Automated with Velodyne (AwV) program has reached 100 partner companies. This initiative aims to commercialize advanced autonomous solutions using Velodyne's lidar sensors and software, showcasing the company's ongoing commitment to innovation and growth in the lidar market. Notable partners include NVIDIA and Siemens, enhancing lidar’s role in safety and efficiency across various industries like robotics and smart cities. The partnership reflects Velodyne's strategy for enhancing visibility and opportunity in the lidar ecosystem.

The U.S. Ninth Circuit Court of Appeals has upheld the validity of Velodyne's patent 7,969,558, which pertains to lidar-based 3D point cloud measuring systems. This ruling supports Velodyne's position in a patent challenge from competitor Quanergy. CEO Ted Tewksbury emphasized the significance of the decision for Velodyne, highlighting their foundational patents in surround view lidar technology. Velodyne aims to protect its intellectual property and is assessing enforcement options against competitors. The company's lidar technology facilitates critical 3D vision for diverse autonomous applications, promoting safety and sustainability.