Velodyne Lidar: Pipeline Builds, Execution Wanes
- Velodyne Lidar reported another disaster quarter with Q3'21 revenues missing analyst targets by a wide margin.
- The company guided to ongoing weakness in Q4'21, but the contract pipeline continues to build.
- The stock only trades at ~3x conservative '23 revenue targets, but the turnaround will be volatile.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
In just a year as a public company, Velodyne Lidar (VLDR) has gone from lidar sensor market leader to a dysfunctional company. The market opportunity remains as impressive as prior, but the company has to improve execution in the competitive market. My investment thesis remains Bullish on the stock due to the strong contract pipeline and reduced market cap.
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Update - Jan. 11
Nice contract, but the market isn't impressed with deals with unheard of robotic companies.
- Velodyne Lidar (NASDAQ:VLDR) has signed a five-year sales pact for its lidar sensors with QinetiQ Inc.
- QinetiQ offers a full range of unmanned ground systems ranging from 5 pounds to 50,000 pounds and has been a leading provider of UGVs for defense and first response users for over 20 years.
- QinetiQ has chosen Velodyne’s sensors that provide mapping and autonomy capabilities to robotic defense vehicles.
Update - Nov. 11
The stock has held up well after missing Q3'21 targets and cutting full-year numbers. Always a bullish sign.