Velodyne Lidar Reports First Quarter 2021 Financial Results
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May 11, 2021 7:15 AM EDT
Needham & Company analyst Rajvindra Gill lowered the price target on Velodyne Lidar, Inc. (NASDAQ: VLDR) to $15.00 (from $20.00) while maintaining a Buy rating.
The analyst commented, "Velodyne reported sales slightly ahead of our expectations, but came in well below on 1Q Non-GAAP gross... More
May 10, 2021 4:35 PM EDT
Velodyne Lidar, Inc. (NASDAQ: VLDR) reported Q1 EPS of ($0.14), $0.02 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $17.7 million versus the consensus estimate of $15.81 million.
First Quarter 2021 Financial Highlights
Revenue: Total revenue of $17.7 million compared to $17.8 million in the fourth quarter of 2020. Product revenue was $10.6 million compared to $14.4 million in the fourth quarter of 2020. The overall product revenue reduction reflects a previously discussed decline in unit sales due to Covid-19 and ongoing evolution of product mix. License and Services revenue of $7.1 million included a $5.5 million licensing fee. Total...
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