- 2020 annual revenue of $95.4 million
- Fourth quarter shipments were a record 4,237 units, including 718 solid state units
- $350.3 million of cash and short-term investments on the balance sheet at December 31, 2020
- Strong future outlook supported by pipeline of 194 projects at February 19, 2021
SAN JOSE, Calif. — (BUSINESS WIRE) — February 25, 2021 — Velodyne Lidar, Inc. (NASDAQ: VLDR, VLDRW), the first pure-play public lidar company, today announced financial results for its fourth quarter and year ended December 31, 2020.
Dr. Anand Gopalan, CEO of Velodyne Lidar, commented, “Velodyne has continued to demonstrate its market leadership with a strong track record of consistent execution. Our fourth quarter and full year 2020 results demonstrate that we continue to innovate, expand our market opportunity, and show our leadership in broadly diversified end markets for lidar. In 2020, we achieved an industry first with the award winning Velabit lidar, our smallest sensor, which we believe will democratize lidar and lidar-based safety.
“We believe our pipeline is the most robust in the industry, as demonstrated by a 46% increase in projects across more than 25 industries from the end of 2019. We are leading the industry in providing lidar units to customers, manufacturing and shipping 11,710 units in...