AEye Inc. (NASDAQ: LIDR ) stock fell Wednesday as investors took profits after the stock surged more than 30% on Tuesday . The rally followed AEye’s announcement of a multimillion-dollar contract with Lunar Outpost.
Lunar Outpost selected AEye’s Apollo long-range lidar for its Pegasus Lunar Terrain Vehicle. The vehicle is designed to transport NASA Artemis astronauts across the moon’s surface.
The agreement expands AEye’s business beyond its core automotive, defense and industrial markets. It also marks the company’s entry into the growing space mobility sector.
Apollo To Support Lunar Navigation
Lunar Outpost plans to use Apollo for terrain perception, obstacle detection and autonomous navigation. These features aim to help Pegasus safely cross the moon’s difficult terrain.
Apollo uses a solid-state design built to handle extreme temperatures, constant vibration and the lunar vacuum. Its compact size also limits its effect on the vehicle’s weight and available space.
TrendingIn addition, Apollo’s software-defined architecture allows operators to adjust scan patterns and performance through software. That flexibility lets Lunar Outpost tailor the sensor to specific mission needs.
“This multimillion-dollar contract award is a testament to our technology and its ability to address this significant market opportunity,” AEye CEO Matt Fisch said.
AEye Expands Beyond Earth
AEye develops software-defined lidar systems for driver assistance, autonomous vehicles, infrastructure, security, defense and logistics. The company says Apollo can detect objects from as far as one kilometer.
Lunar Outpost develops robotic systems and infrastructure for extreme environments. The company plans 10 lunar missions before 2030 as it works to support a long-term human presence on the moon.
LIDR Price Action: AEye shares were down 6.12% at $1.38 during premarket trading on Wednesday, according to Benzinga Pro data .
Image by JHVEPhoto via Shutterstock
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