Single-Photon Light Detection and Ranging (SP-LiDAR) is emerging as a leading technology for long-range,
high-precision 3D vision tasks. In SP-LiDAR, timestamps encode two complementary pieces of information:
pulse travel time (depth) and the number of photons reflected by the object (reflectivity). Existing SP-LiDAR reconstruction methods typically
recover depth and reflectivity separately or sequentially use one modality to estimate the other. Moreover, the conventional 3D histogram construction is effective
mainly for slow-moving or stationary scenes. In dynamic scenes, however, it is more efficient and effective to directly process
the timestamps. In this paper, we introduce an estimation method to simultaneously recover both depth and reflectivity
in fast-moving scenes. We offer two contributions (1) A theoretical analysis demonstrating the mutual correlation between depth and
reflectivity and the conditions under which joint estimation becomes beneficial. (2) A novel reconstruction method, ``SPLiDeR'',
which exploits the shared information to enhance signal recovery.