Luminar Technologies (LAZRQ) AI Stock Analysis

• Market Cap: $5.85M
• Dividend Yield: N/A
• Average Volume (3M): 37.24M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.18
• Revenue Growth: 0.97%
• EPS Growth: 61.79%
• Country: US
• Employees: 580
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): -0.94
• Shares Outstanding: 72,986,496
• 10 Day Avg. Volume: 792,841
• 30 Day Avg. Volume: 37,244,587
• PEG Ratio: 0.01
• Price to Book (P/B): -0.77
• Price to Sales (P/S): 2.24
• P/FCF Ratio: -0.60
• Enterprise Value/Market Cap: 68.14
• Enterprise Value/Revenue: 5.26
• Enterprise Value/Gross Profit: -24.72
• Enterprise Value/Ebitda: -2.47
• 1Y Price Target: $32.00
• Price Target Upside: 39900.00% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $0.07 ▼(-13.75% Downside)

The score is driven down primarily by severe losses, negative equity, and ongoing cash burn, reinforced by suspended guidance and restructuring/liquidation actions in Chapter 11. Technicals also reflect a pronounced downtrend, while valuation signals provide little support given a non-meaningful negative P/E and no dividend data.

Positive Factors

Established OEM partnerships

Long-term OEM partnerships with Volvo and Daimler provide durable demand channels and validate Luminar's technology for vehicle integration. Such design wins can generate multi-year revenue streams, support scale in manufacturing, and create barriers for competitors seeking the same program slots.

Consistent revenue growth & sensor ramp

Sequential and year-over-year revenue growth driven by rising Iris sensor shipments shows product traction and adoption. A steady ramp in unit shipments supports potential operating leverage as fixed costs are spread, improving the odds of moving toward sustainable margins if volumes continue to scale.

Diversification into aerospace & defense

Expanding into aerospace and defense offers new addressable markets less tied to auto OEM cycles, diversifying revenue and reducing reliance on a few car programs. Defense/aerospace contracts can provide higher margin, recurring LSI revenue and longer contract durations, improving long-term cash visibility.

Negative Factors

Chapter 11 and asset sale process

Formal Chapter 11 proceedings and a court-supervised asset sale constitute a structural disruption to the going-concern business model, likely terminating existing contracts and reorganizing ownership. This process creates uncertainty about long-term operational continuity and the company's ability to execute strategy.

Severely negative profitability and cash flow

Deeply negative margins and persistently negative operating and free cash flow indicate the core business is not generating surplus cash to fund growth or obligations. Over months, this undermines sustainability, forces costly external financing or asset sales, and impairs reinvestment in R&D or production capacity.

Balance sheet stress and capital-structure risk

Negative equity and distorted leverage metrics signal capital impairment and limited financial flexibility. For creditors and partners this raises counterparty risk and can restrict access to financing, complicating recovery or growth plans and often forcing restructuring, asset sales, or creditor-driven outcomes.

Luminar Technologies Business Overview & Revenue Model

Company Description

Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Advanced Technologies and Services. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors or lidars, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries. The Advanced Technologies and Services segment develops application-specific integrated circuits, pixel-based sensors, and advanced lasers. This segment also designs, tests, and provides consulting services for non-standard integrated circuits for use in automobile and aeronautics sector, as well as government spending in military and defense activities. The company was founded in 2012 and is headquartered in Orlando, Florida.

How the Company Makes Money

Luminar Technologies generates revenue primarily through the sale of its LiDAR sensors and associated software solutions to automotive manufacturers and suppliers. The company operates a business model that includes both direct sales and long-term contracts with major automotive partners, allowing it to secure recurring revenue streams as customers integrate its technology into their vehicles. Key revenue streams include the sale of hardware (LiDAR units) and software licenses, with additional income potentially derived from partnerships with major automotive companies that may involve joint development agreements or equity stakes. Significant partnerships with leading automotive manufacturers, such as Volvo and Daimler, bolster Luminar's market position and contribute to its earnings by facilitating large-scale deployments of its technology in new vehicle models.

Luminar Technologies Financial Statement Overview

Summary

Revenue is growing (TTM +4.49%), but profitability is severely negative (TTM net margin -313.31%, gross margin -10.41%) with negative operating/free cash flow. Negative stockholders’ equity and distorted leverage/ROE metrics signal elevated balance-sheet risk.

Income Statement

Luminar Technologies shows a consistent increase in revenue over the years, with a TTM growth rate of 4.49%. However, the company struggles with negative profit margins, including a TTM net profit margin of -313.31% and a gross profit margin of -10.41%. The EBIT and EBITDA margins are also significantly negative, indicating ongoing operational challenges.

Balance Sheet

The balance sheet reveals a concerning financial structure with negative stockholders' equity and a high debt-to-equity ratio of -1.49 in the TTM period. The return on equity is positive at 91.99%, but this is due to negative equity, which distorts the metric. The equity ratio is negative, reflecting financial instability.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a slight improvement in free cash flow growth at -4.51% in the TTM period. The operating cash flow to net income ratio is -3.32, indicating cash flow challenges relative to net income. The free cash flow to net income ratio is slightly positive at 1.01, suggesting some alignment between free cash flow and net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	75.75M	75.39M	69.78M	40.70M	31.94M	13.95M
Gross Profit	-16.13M	-25.69M	-72.69M	-60.28M	-14.15M	-11.00M
EBITDA	-161.26M	-380.47M	-524.91M	-422.37M	-229.35M	-356.62M
Net Income	-233.66M	-273.14M	-571.27M	-445.94M	-237.99M	-362.30M
Balance Sheet
Total Assets	203.52M	365.21M	512.37M	687.33M	883.54M	510.35M
Cash, Cash Equivalents and Short-Term Investments	76.60M	182.67M	289.82M	488.87M	792.12M	485.65M
Total Debt	449.59M	534.65M	660.66M	635.13M	624.29M	1.18M
Total Liabilities	505.08M	586.00M	737.12M	713.73M	685.55M	361.61M
Stockholders Equity	-301.56M	-220.79M	-224.75M	-26.41M	197.99M	148.74M
Cash Flow
Free Cash Flow	-209.48M	-281.72M	-269.22M	-226.30M	-154.85M	-77.84M
Operating Cash Flow	-207.87M	-276.63M	-247.30M	-208.23M	-148.42M	-75.64M
Investing Cash Flow	66.05M	42.46M	236.63M	27.99M	-194.19M	-271.79M
Financing Cash Flow	82.77M	178.26M	80.20M	-79.35M	463.59M	529.85M

Luminar Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LAZRQ, the sentiment is Negative. The current price of 0.08 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.40, and below the 200-day MA of 2.12, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 35.08 is Neutral, neither overbought nor oversold. The STOCH value of 19.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LAZRQ.

Luminar Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HSAI	62 Neutral	$4.09B	55.11	6.61%	―	43.16%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
AEVA	50 Neutral	$865.15M	-2.49	-192.35%	―	89.90%	5.13%
QS	48 Neutral	$5.97B	-12.15	-38.65%	―	―	15.04%
INVZ	48 Neutral	$216.88M	-2.81	-71.46%	―	46.09%	46.01%
LIDR	46 Neutral	$82.45M	-0.81	-75.54%	―	-19.11%	73.51%
LAZRQ	40 Underperform	$5.85M	-0.01	―	―	0.97%	61.79%

Luminar Technologies Corporate Events

Luminar Advances Chapter 11 Liquidation Plan Amid Risks

On December 15 and December 31, 2025, Luminar Technologies, Inc. and certain subsidiaries filed for Chapter 11 bankruptcy in the Southern District of Texas, and on January 29, 2026, the debtors submitted an amended Chapter 11 plan of liquidation and related disclosure statement that contemplate selling off the remaining assets and distributing proceeds to creditors, though court approval and ultimate consummation of the plan remain uncertain. On January 30, 2026, the company filed monthly operating reports covering the period from the petition dates through December 31, 2025, while cautioning that these unaudited, non‑GAAP reports are limited, subject to change, and not a reliable basis for investment decisions, and further warned that trading in its securities during the ongoing Chapter 11 process is highly speculative and could result in significant or total losses for existing shareholders and other securityholders.

The most recent analyst rating on (LAZRQ) stock is a Sell with a $0.07 price target. To see the full list of analyst forecasts on Luminar Technologies stock, see the LAZRQ Stock Forecast page.

Luminar Technologies Sells Key LiDAR Assets in Bankruptcy

Luminar Technologies, which filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas on December 15, 2025, has agreed to sell key LiDAR business assets to MicroVision, Inc. after a court-supervised auction held on January 26, 2026. MicroVision emerged as the successful bidder with a $33 million cash offer, surpassing a prior $22 million stalking-horse agreement with Quantum Computing Inc., and entered into a purchase agreement that includes customary representations, warranties and closing conditions, including bankruptcy court approval, which was granted on January 27, 2026. Quantum has been designated as the backup bidder and will receive a breakup fee of $660,000 plus reimbursement of up to $500,000 in expenses if the MicroVision deal closes, while Luminar warns that trading in its securities during the Chapter 11 process is highly speculative and that shareholders may suffer substantial or complete losses depending on the case’s outcome.

The most recent analyst rating on (LAZRQ) stock is a Sell with a $0.09 price target. To see the full list of analyst forecasts on Luminar Technologies stock, see the LAZRQ Stock Forecast page.

Luminar Technologies Enters Asset Sale Amid Bankruptcy Proceedings

Luminar Technologies, Inc., which filed voluntary Chapter 11 bankruptcy petitions on December 15, 2025 in the Southern District of Texas, has agreed to sell specified assets related to its LiDAR business and certain associated liabilities to Quantum Computing Inc. for $22 million in cash, subject to court approval and a competitive auction process under section 363 of the U.S. Bankruptcy Code. Under the agreement signed on January 11, 2026, Quantum Computing Inc. is expected to serve as the stalking-horse bidder, with the deal contingent on various closing conditions, including bankruptcy court approval and antitrust clearance, and providing for a potential break-up fee and expense reimbursement if it is outbid, while Luminar also faces imminent delisting of its common stock from Nasdaq following a January 8, 2026 notice, with trading already suspended since December 24, 2025 and shares now quoted on the OTC Market under the symbol “LAZRQ”.

The most recent analyst rating on (LAZRQ) stock is a Sell with a $0.08 price target. To see the full list of analyst forecasts on Luminar Technologies stock, see the LAZRQ Stock Forecast page.

Luminar Technologies Advances Chapter 11 Liquidation and Sale Process

On December 15, 2025, Luminar Technologies and certain subsidiaries filed voluntary Chapter 11 bankruptcy petitions in the Southern District of Texas, and on December 31, 2025 two additional subsidiaries, Condor Acquisition Sub I, Inc. and Condor Acquisition Sub II, Inc., also commenced Chapter 11 proceedings with an intent to seek joint administration of all related cases. The debtors continue to run the business as debtors-in-possession, and on December 30, 2025 obtained court approval of global bidding procedures that set a January 9, 2026 bid deadline for offers on all or part of their assets and a January 20, 2026 objection deadline for proposed sale transactions and related indenture actions. Also on December 30, 2025, the company filed a proposed Chapter 11 Plan of Liquidation and accompanying disclosure statement outlining the planned liquidation of remaining assets and distribution of proceeds to stakeholders, though confirmation of the plan and ultimate consummation of any liquidation or sale transactions remain uncertain and subject to further Bankruptcy Court approval and potential amendments.

The most recent analyst rating on (LAZRQ) stock is a Hold with a $0.09 price target. To see the full list of analyst forecasts on Luminar Technologies stock, see the LAZRQ Stock Forecast page.

Luminar Technologies Announces Major Workforce Reduction Plan

On December 18, 2025, Luminar Technologies, Inc. approved a plan to cut about 30% of its workforce as part of an effort to reduce operating expenses, with the layoffs beginning immediately and expected to be largely completed by the first quarter of 2026. The company expects to incur approximately $2.5 million to $3.0 million in cash charges tied to severance and related employee costs, mostly in the first quarter of 2026, and indicated that actual costs could differ and additional charges may arise as a result of the workforce reduction.

The most recent analyst rating on (LAZRQ) stock is a Sell with a $0.18 price target. To see the full list of analyst forecasts on Luminar Technologies stock, see the LAZRQ Stock Forecast page.