From GlobeNewswire: 2024-12-18 07:30:00

LeddarTech, an automotive software company, announced its fiscal year 2024 financial results, ending on September 30, 2024. LeddarVision™ for ADAS, AD, and parking applications. President and CEO Frantz Saintellemy highlighted the groundbreaking agreement with Texas Instruments. LeddarTech introduced LeddarNavigator demonstration vehicles in Europe and China, showcasing their technology at AutoSens Europe 2024 and Reuters Automotive.

LeddarTech collaborated with Texas Instruments for an integrated platform solution for ADAS and AD markets. TI agreed to make advanced royalty payments totaling approximately US$10 million. The collaboration will offer a bundled solution featuring LeddarVision software pre-integrated on TI’s processors. LeddarTech received positive feedback from OEMs and Tier 1 suppliers for potential market success.

LeddarTech reported revenue of $0.5 million for fiscal year 2024, compared to $0.2 million in 2023. Net loss from continuing operations was $167.3 million in 2024, with an adjusted EBITDA loss of $30.4 million. LeddarTech’s cash balance was $5.3 million on September 30, 2024, later increasing to $20.8 million with funding from Texas Instruments and other sources.

LeddarTech, founded in 2007, is headquartered in Quebec City, offering AI-based sensor fusion software for ADAS, AD, and parking applications. With over 170 patent applications, LeddarTech aims to enhance global mobility safety and efficiency. The company focuses on becoming a widely adopted sensor fusion and perception software solution for vehicles.



Read more at GlobeNewswire:: LeddarTech Reports FY24 Results