VLDR - VLDR STOCK NEWS

Velodyne Lidar (NASDAQ: VLDR) reported second-quarter results with revenue of $13.6 million, a decrease from the previous quarter's $17.7 million. The company shipped over 3,800 sensor units, achieving its target of 34 multiyear agreements by August 1, 2021. Total cash and short-term investments stood at $353.6 million. Despite a GAAP net loss of $80.7 million, Velodyne projects significant growth with a $1 billion revenue opportunity through 2025 and is raising its agreements target to 38 by year-end 2021.

Velodyne Lidar (Nasdaq: VLDR) has announced a collaboration with ANYbotics to equip its autonomous mobile robots with Velodyne’s Puck™ lidar sensors. This partnership aims to enhance automated robotic inspection solutions for industrial operators, focusing on tasks in challenging environments like mining, oil, and gas. The Puck sensors provide high-resolution, 3D mapping capabilities that enable ANYbotics' robots to navigate complex terrains efficiently, improving safety and equipment uptime.

Velodyne Lidar (NASDAQ: VLDR) has appointed Michael Dee as Chairman of the Board following Dr. Joseph B. Culkin's resignation due to health reasons. Dr. Culkin remains an active director. The company also welcomed Kristin Slanina to the Board, bringing over 30 years of automotive and mobility experience. Dee expressed confidence in Velodyne's leadership and highlighted past achievements, such as manufacturing nearly 12,000 lidar units generating over $95 million in revenue in 2020. The changes are effective immediately, and the company aims to strengthen its market position.

Velodyne Lidar (Nasdaq: VLDR) has launched the Vella Development Kit (VDK), enabling efficient integration of lidar capabilities in autonomous applications. The VDK accelerates development timelines for autonomous vehicles, drones, and industrial robotics by translating raw lidar data into actionable insights. It leverages machine learning for enhanced perception tasks, such as object classification and obstacle detection. Future versions, VDK Lite and VDK Enterprise, will cater to diverse customer needs. This initiative reinforces Velodyne's leadership in lidar technology and aims to advance safer mobility.

Velodyne Lidar, Inc. (NASDAQ: VLDR) announced that Dr. Anand Gopalan will step down as CEO and Board member effective July 30, 2021. The Board has established an Office of the Chief Executive (OCE) with senior leaders, including Jim Barnhart and Drew Hamer, to maintain the growth strategy initiated by Dr. Gopalan. Velodyne continues to deliver strong sales pipeline growth and remains committed to its previously announced 2021 revenue guidance of $77 million to $94 million. The company is also expanding its global footprint and technical support resources.

Velodyne Lidar (Nasdaq: VLDR) has joined the NVIDIA Metropolis program, enhancing its Intelligent Infrastructure Solution for traffic monitoring. This initiative aims to improve road safety, addressing the alarming 7.2% rise in U.S. traffic fatalities in 2020. The solution leverages NVIDIA Jetson AGX Xavier for real-time traffic analytics, capable of detecting vehicles and pedestrians under various conditions. A pilot project will launch in Austin, Texas, to assess traffic and implement safety measures. This partnership opens pathways to collaborations with industry experts and potential clients.

Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW) will release its second quarter financial results for the period ending June 30, 2021, on August 5, 2021, after market close. The announcement will be followed by a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. Investors can join the live call at 877-270-2148 or access the webcast at Velodyne's Investor Relations page. An archived version will be available post-call, and a telephonic replay can be reached until August 12, 2021.

Velodyne Lidar (Nasdaq: VLDR, VLDRW) has launched a new India Design Center in Bangalore, aiming to enhance its lidar solutions and drive innovation. The center will work alongside the San Jose engineering team to develop customer-focused solutions and tap into India's engineering talent. Led by Parthasarathy Narasimhan, the center will focus on automotive-grade products and collaborate with local automotive development centers. Velodyne aims to advance safer mobility through its lidar technology, which supports various industries including autonomous vehicles and smart infrastructure.

Velodyne Lidar (Nasdaq: VLDR) has announced a continued partnership with Mothers Against Drunk Driving (MADD) for the third year, focusing on public education regarding the safety benefits of autonomous vehicle technology. This initiative aims to reduce impaired driving collisions through awareness campaigns and educational programs. MADD reports a reduction in drunk driving deaths by half since its inception, yet more than 10,000 lives are lost annually due to impaired driving. The partnership seeks to leverage autonomous technology to ultimately eliminate these fatalities.