TinyGemsBreaks – Cepton Inc. (NASDAQ: CPTN) Announces Q3 2023 Results

Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, has announced business updates and financial results for the third quarter ended Sept. 30, 2023. Among the highlights, the company reported $3.8 million in total revenue for the third quarter of 2023, an increase of 112% compared to the prior year comparable period and 38% sequentially. The company attributed revenue growth to record shipment volumes. “For the second consecutive quarter, we set new company records for shipment volumes for the automotive end market,” said Jun Pei, Cepton’s co-founder and CEO. “Our continued dedication to executing our milestones and increasing adoption in targeted smart application markets demonstrates our technology leadership in lidar.”

To view the full press release, visit https://ibn.fm/ZMePK

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 also 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

About TinyGems

TinyGems is a specialized communications platform with a focus on innovative small-cap and mid-cap companies with bright futures and huge potential. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TinyGems is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, TinyGems brings its clients unparalleled recognition and brand awareness. TinyGems is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TinyGems, text “Gems” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TinyGems.com

Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published: https://www.TinyGems.com/Disclaimer

TinyGems
Los Angeles, CA
www.TinyGems.com
310.299.1717 Office
Editor@TinyGems.com

TinyGems is powered by IBN