Velodyne Lidar’s Revenue by Region (2020-2022)

This statistic highlights Velodyne Lidar’s Revenue by Region, split between the United States and the rest of the world, reported on a quarterly basis from Q1 2020 onwards.

Velodyne Lidar’s Revenue by Region

Velodyne Lidar revenue is bifurcated into the following regions:

(All figures are in millions)

North America

A majority of Velodyne Lidar’s revenue comes from North America, which contributed about 42% of total revenue in Q3 2021. North American revenue witnessed a decrease from $22.08 million in Q3 2020 to $5.53 million in Q3 2021, indicating a decline of almost 75% on a yearly basis. It also shows an incline of almost 5% compared to $5.27 million in Q2 2021 on a quarterly basis. 

The Asia Pacific

After North America, Asia Pacific is the second-biggest revenue contributor of the company in recent quarters. the Asia Pacific region’s revenue observed a decrease from $4.91 million in Q3 2020 to $3.81 million in Q3 2021, marking a decline of 22%, on a yearly basis. On a quarterly basis, it decreased by 27% as compared to $5.26 million in Q2 2021. In June 2020, the Company entered into a patent cross-license agreement related to its litigation settlement with a customer in the Asia Pacific.

Europe, the Middle East and Africa (EMEA)

EMEA contributed 28.5% of the revenue in Q3 2021. EMEA revenue amounted to $3.72 million in Q3 2021, which was a decrease of nearly 27% from the previous year’s quarter; i.e., $5.11 million. Also, it increased by 21% as compared to $3.07 million in Q2 2021, on a quarterly basis. 

The total revenue of the company has declined by 60% from $32 million in Q3 2020 to $13.06 million in Q3 2021, on a yearly basis. The reason for the decline in revenue is That the company reduced production capabilities at its manufacturing sites late in the fourth quarter of 2020 due to COVID-19, which impaired the company’s ability to fulfill certain customers’ orders in December and the ongoing evolution of product mix. 

About the company

Velodyne Lidar is a lidar technology company based in Silicon Valley. It provides Lidar technology solutions which are used in several automotive and non-automotive applications ranging across devices like UAV (Unmanned Aerial Vehicles), drones, advanced security systems, etc. It is the world’s first pure-play lidar company. The company’s stock is traded on the Nasdaq Global Select Market under the ticker symbol “VLDR”. As robotic programs like robots disinfecting air and surfaces, and touchless robotic deliveries were introduced during the pandemic, which increased demand for the company’s products.

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