Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, today announced business updates and financial results for the first quarter ended March 31, 2023. Among the business highlights, Cepton reported OEM series production execution and that it is on-track to receive final production validation for salable vehicles and continue to ship pre-production lidar units for multiple vehicle models. In addition, Cepton has completed final implementation of embedded software, including cybersecurity, over-the-air updates, functional safety and multiple custom features for OEMs. As detailed in the announcement, the company will host a live conference call and webcast to discuss the business updates and results at 2:30 p.m. PT on May 10. “We started fiscal year 2023 with strong progress on our commercial activities,” said Jun Pei, Cepton’s co-founder and CEO. “We are hyper-focused on recent RFQ activity with two top global OEMs. Cepton’s recently announced expanded ASIC chipset will further separate us from our peers and drive lidar adoption in consumer vehicles for automotive series production.”
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About Cepton 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 lidar technology, 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 a significant ADAS lidar series production award with Koito on the General Motors business. Cepton is engaged with all 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 automotive customers in the 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, visit the company’s website at 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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