There is a lot of confusion around the names of various elevation products, and what they truly mean. Sometimes, a rater Digital Elevation Model (DEM) is incorrectly called LiDAR. In fact, rater DEMs (typically in geoTIFF format) can be created from LiDAR but not always, so using the terms interchangeably is not advised.
Equator allows users to create various elevation products from LiDAR. These products include DEMs, DSMs, contours, and hillshades. To learn more about the difference between each product, and which is right for your project, you can learn more about LiDAR vs. DEM vs. Contous in a recent blog post.