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Luminar Technologies (LAZR)
NASDAQ:LAZR
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Luminar Technologies
(NASDAQ:LAZR)
42Neutral
Positive Factors
Cost Management and Efficiency
LAZR demonstrated solid cost execution with significant annualized cost savings and plans to extract further cost efficiencies through restructuring efforts and platform unification.
OEM Contracts and Developments
Volvo has elected to add Luminar's LiDAR sensors on an upcoming model as standard equipment, indicating a major endorsement from a renowned automaker.
Partnerships and Collaborations
A new partnership with a major construction highway machinery manufacturer and ongoing engagements with platform partners like NVIDIA enhance LAZR's market positioning.
Negative Factors
Cash Flow and Capital Requirements
Luminar Technologies is expected to need to raise additional capital to reach self-funding status.
Production and Inventory Challenges
Near term, macro headwinds are resulting in inventory digestion impacting the company's production rate for 4Q.
Revenue and Earnings
3Q revenue and gross profit tracked below expectations, with top-line softness attributed to greater than anticipated headwinds.
Luminar Technologies (LAZR) vs. S&P 500 (SPY)
Market Cap
$208.78M
Dividend YieldN/A
Average Volume (3M)1.90M
Price to Earnings (P/E)―
Beta (1Y)1.94
Revenue Growth8.05%
EPS Growth58.44%
CountryUS
Employees580
SectorConsumer Cyclical
Sector Strength67
IndustryAuto - Parts
Share Statistics
EPS (TTM)-1.82
Shares Outstanding40,515,217
10 Day Avg. Volume1,536,758
30 Day Avg. Volume1,899,173
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.66
Price to Sales (P/S)0.00
P/FCF Ratio-0.67
Enterprise Value/Market Cap3.07
Enterprise Value/Revenue2.11
Enterprise Value/Gross Profit-24.94
Enterprise Value/Ebitda-0.42
Forecast
1Y Price Target
$32.17Price Target Upside610.15% Upside
Rating ConsensusHold
Number of Analyst Covering4
Luminar Technologies Business Overview & Revenue Model
Company DescriptionLuminar Technologies, Inc. (LAZR) is a leading company in the field of autonomous vehicle technology, headquartered in Orlando, Florida. It specializes in developing advanced sensor technologies, primarily focusing on LIDAR (Light Detection and Ranging) systems, which are crucial for enabling safe and efficient autonomous driving. Luminar's core products include high-performance LIDAR sensors and related software that enhance vehicle perception capabilities, allowing vehicles to detect and respond to their surroundings with high precision.
How the Company Makes MoneyLuminar Technologies generates revenue primarily through the sale of its LIDAR sensors and software solutions to automotive manufacturers and suppliers. The company collaborates with major automotive OEMs (Original Equipment Manufacturers) and Tier 1 suppliers to integrate its technology into vehicles, contributing to the development and commercial deployment of autonomous driving systems. Luminar also engages in partnerships and strategic alliances, which can include co-development agreements and licensing deals, to expand the adoption and application of its technologies. Revenue streams may also include engineering services and support for integration and optimization of LIDAR systems in vehicles.
Luminar Technologies Financial Statement Overview
Summary
Luminar Technologies is experiencing strong revenue growth but faces significant financial challenges, including negative equity and cash flow issues. The company operates at a loss, with high operational costs and negative net income, indicating financial instability that requires improved management.Income Statement
Luminar Technologies has shown significant revenue growth over the years, with a revenue increase from $13.95M in 2020 to $75.39M in 2024. However, the company is operating at a loss, with negative EBIT and EBITDA margins indicating high operational costs. Net income has also remained negative, reflecting ongoing challenges in achieving profitability.45
Neutral
Balance Sheet
The balance sheet shows high leverage with a negative stockholders' equity of -$220.79M in 2024, indicating financial distress. The debt-to-equity ratio cannot be calculated due to negative equity, highlighting potential solvency issues. The equity ratio is negative, reflecting a high proportion of liabilities relative to assets.30
Negative
Cash Flow
Luminar Technologies has experienced negative free cash flow growth, indicative of cash constraints. The operating cash flow remains negative, though there is a substantial cash inflow from financing activities, suggesting reliance on external funding to manage operations.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 75.39M | 69.78M | 40.70M | 31.94M | 13.95M |
| Gross Profit | ||||
| -25.69M | -72.69M | -60.28M | -14.15M | -11.00M |
| EBIT | ||||
| -435.04M | -563.31M | -442.40M | -214.55M | -86.88M |
| EBITDA | ||||
| -242.80M | -530.39M | -425.57M | -239.85M | -364.90M |
| Net Income Common Stockholders | ||||
| -273.14M | -571.27M | -445.94M | -237.99M | -365.18M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 182.67M | 289.82M | 488.87M | 792.12M | 485.65M |
| Total Assets | ||||
| 365.21M | 512.37M | 687.33M | 883.54M | 510.35M |
| Total Debt | ||||
| 534.65M | 660.66M | 635.13M | 619.46M | 893.00K |
| Net Debt | ||||
| 451.81M | 521.57M | 565.58M | 289.48M | -208.05M |
| Total Liabilities | ||||
| 586.00M | 737.12M | 713.73M | 685.55M | 361.61M |
| Stockholders Equity | ||||
| -220.79M | -224.75M | -26.41M | 197.99M | 148.74M |
| Cash Flow | Free Cash Flow | |||
| -281.72M | -269.22M | -226.30M | -154.85M | -77.84M |
| Operating Cash Flow | ||||
| -276.63M | -247.30M | -208.23M | -148.42M | -75.64M |
| Investing Cash Flow | ||||
| 42.46M | 236.63M | 27.99M | -194.19M | -271.79M |
| Financing Cash Flow | ||||
| 178.26M | 80.20M | -79.35M | 463.59M | 529.85M |
Luminar Technologies Technical Analysis
Neutral
4.53
Price Trends
4.83
Negative
5.44
Negative
9.34
Negative
Market Momentum
-0.14
Negative
54.44
Neutral
85.95
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LAZR, the sentiment is Neutral. The current price of 4.53 is above the 20-day moving average (MA) of 3.90, below the 50-day MA of 4.83, and below the 200-day MA of 9.34, indicating a neutral trend. The MACD of -0.14 indicates Negative momentum. The RSI at 54.44 is Neutral, neither overbought nor oversold. The STOCH value of 85.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for LAZR.
Luminar Technologies Risk Analysis
Luminar Technologies disclosed 72 risk factors in its most recent earnings report. Luminar Technologies reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Luminar Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $6.93B | 11.84 | 2.89% | 3.91% | 2.59% | -21.68% | |
56 Neutral | $2.33B | ― | -2.44% | ― | 9.07% | 79.21% | |
55 Neutral | $716.77M | ― | -92.90% | ― | 110.23% | 12.96% | |
49 Neutral | $182.31M | ― | -81.61% | ― | 16.25% | 32.95% | |
47 Neutral | $12.41M | ― | -170.89% | ― | -70.99% | 69.17% | |
44 Neutral | $672.71M | ― | 102.04% | ― | 21.32% | 17.48% | |
42 Neutral | $208.78M | ― | 146.24% | ― | 8.05% | 58.44% |
* Consumer Cyclical Sector Average
Performance Comparison
LAZR
Luminar Technologies
4.53
-24.27
-84.27%
AEVA
Aeva Technologies
13.54
9.75
257.26%
INVZ
Innoviz Technologies
1.01
-0.26
-20.47%
LIDR
AEye Inc
0.66
-1.80
-73.17%
ECX
ECARX Holdings
1.74
0.09
5.45%
HSAI
Hesai Group Sponsored ADR
18.34
13.02
244.74%
Luminar Technologies Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q4-2024)
| % Change Since: -27.87%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Neutral
The call presented a mixed outlook with strong revenue growth and significant achievements in product launches and cost restructuring. However, the conservative revenue growth forecast, expected negative gross margins in 2025, and geopolitical challenges indicate areas of concern.Q4-2024 Updates
Positive Updates
Strong Revenue Growth
Luminar reported Q4 revenue of $22.5 million, up 45% quarter-over-quarter and 2% year-over-year, driven by higher sensor sales.
LiDAR Production Scale Up
Luminar plans to scale up LiDAR shipments by more than 200% this year, which is a significant step towards achieving economies of scale.
Successful Launch with Volvo
Luminar achieved the start of production for Volvo with the EX90 and was also awarded the Volvo ES90.
Cost Restructuring Achievements
Significant cost savings have been realized from restructuring efforts, with a decline of $72 million in non-GAAP OpEx and $80 million in stock-based compensation on an annualized basis.
Positive Gross Margin
For the quarter, Luminar reported a positive gross profit of $12.5 million on a GAAP basis.
Negative Updates
Lower Revenue Growth Forecast
The full-year revenue growth for 2025 is expected to be in the range of 10% to 20%, which is conservative due to lower assumed volume for series productions.
Negative Gross Margin Expected
Luminar is guiding to be modestly gross margin negative for each quarter in 2025.
Tariff and Geopolitical Challenges
Geopolitical tensions and tariff changes are expected to have a modest impact on gross profit, and Luminar is exploring alternatives to address these challenges.
Order Book Decline
The forward-looking order book for 2024 is lower relative to 2023 due to the transition to Luminar Halo, although this is expected to be temporary.
Company Guidance
During Luminar's Fourth Quarter of 2024 Business Update Call, the company provided robust guidance for 2025, projecting more than 200% growth in LiDAR shipments, with expectations to ship between 30,000 to 33,000 sensors, compared to 9,000 in 2024. Revenue growth is forecasted to be in the range of 10% to 20%, driven primarily by increased sensor sales to Volvo and other series production customers, although tempered by a significant 50% reduction in forecasted volumes compared to IHS estimates. The company also outlined key milestones for 2025, including ramping up Iris sensor production, meeting key requirements for their next-generation LiDAR, Luminar Halo, and streamlining operations by transitioning to a unified product platform. Financially, Luminar achieved a gross profit of $12.5 million in Q4, driven by sensor sales and cost management, although it anticipates modestly negative gross margins throughout 2025. With $233 million in cash and liquidity at the end of 2024, the company plans to utilize its equity financing program to maintain liquidity above $150 million by year-end 2025 while continuing to focus on cost reductions and efficiency improvements.Luminar Technologies Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
Luminar Technologies Reduces Debt with Note Exchange
Neutral
Mar 24, 2025
On March 23, 2025, Luminar Technologies entered into private exchange agreements with certain holders of its 1.25% Convertible Senior Notes due 2026, exchanging $18.2 million of these notes for newly issued Class A common stock and, in some cases, cash for accrued interest. These transactions, which are expected to settle in four daily tranches starting March 25, 2025, will not generate cash proceeds for the company but will reduce its outstanding notes to $184.9 million, potentially impacting its financial structure and market positioning.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.