Luminar Technologies Inc (LAZRQ) Financials
Newest figures come from the 10-K for FY2025, filed Mar 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LAZRQ SEC filings page.
Luminar Technologies Inc (LAZRQ) reported $66.0M in revenue for fiscal year 2025, down 12.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Expense reductions narrowed operating losses, but weaker revenue, heavier interest, and balance-sheet contraction shaped Luminar’s 2025 mechanics.
FY2025’s revenue decline coincided with gross margin deteriorating from-34.1% to-118.5% , yet the operating loss narrowed as selling, general, and research costs were reduced. Net income moved the other way: interest expense rose from$27M to$48M , showing that financing costs offset part of the operating improvement.
Operating cash flow improved from
Liquidity became structurally tight: FY2025 liabilities were
Financial Health Signals
Luminar Technologies Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Luminar Technologies Inc scores -34.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.4M) relative to total liabilities ($608.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Luminar Technologies Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Luminar Technologies Inc reported a net loss of $366.3M while operations used $196.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Luminar Technologies Inc reported an operating loss of $296.8M against $48.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Luminar Technologies Inc generated $12.7M in revenue in Q4 2025. This represents a decrease of 43.3% from the same quarter a year earlier. Against the prior quarter it is down 32.0%.
Luminar Technologies Inc's EBITDA was -$104.3M in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 72.2% from the same quarter a year earlier. Against the prior quarter it is down 46.0%.
Luminar Technologies Inc reported -$176.9M in net income in Q4 2025. This represents a decrease of 300.0% from the same quarter a year earlier. Against the prior quarter it is down 106.0%.
Not reported for Q4 2025.
Cash & Balance Sheet
Luminar Technologies Inc recorded an outflow of $51.8M in free cash flow in Q4 2025, representing a cash shortfall after capex. This represents an increase of 17.5% from the same quarter a year earlier. Against the prior quarter it is down 6.7%.
Luminar Technologies Inc held $20.3M in cash against $0 in long-term debt as of Q4 2025, with $137.1M of liabilities due within a year.
Not reported for Q4 2025.
Margins & Returns
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q4 2025.
Capital Allocation
Luminar Technologies Inc invested $24.7M in research and development in Q4 2025. This represents a decrease of 48.0% from the same quarter a year earlier. Against the prior quarter it is down 29.9%.
Luminar Technologies Inc invested $1.3M in capex in Q4 2025, funding long-term assets and infrastructure. This represents an increase of 48.3% from the same quarter a year earlier. Against the prior quarter it is up 132.4%.
Not reported for Q4 2025.
LAZRQ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.7M-43.3% | $18.7M+21.0% | $15.6M-5.0% | $18.9M-9.9% | $22.5M+1.7% | $15.5M-8.6% | $16.5M+1.6% | $21.0M+44.5% |
| Cost of Revenue | $62.4M+523.2% | $26.8M-9.1% | $28.1M-6.9% | $27.0M-14.1% | $10.0M-77.1% | $29.5M-15.9% | $30.1M-12.7% | $31.4M+7.9% |
| Gross Profit | -$49.6M-497.6% | -$8.1M+42.4% | -$12.4M+9.2% | -$8.1M+22.5% | $12.5M+157.8% | -$14.0M+22.7% | -$13.7M+25.4% | -$10.5M+28.5% |
| R&D Expenses | $24.7M-48.0% | $35.3M-30.3% | $39.3M-40.3% | $38.3M-43.5% | $47.5M-24.3% | $50.6M-19.6% | $65.8M-2.4% | $67.8M-1.9% |
| SG&A Expenses | N/A | $14.1M-53.3% | N/A | $20.9M-36.7% | $22.7M-39.3% | $30.2M-14.8% | $29.8M-29.8% | $33.0M-25.7% |
| Operating Income | -$110.4M-68.0% | -$74.7M+35.6% | -$39.5M+69.1% | -$72.3M+42.5% | -$65.7M+55.8% | -$115.9M+10.1% | -$127.7M+11.2% | -$125.8M+11.4% |
| EBITDA | -$104.3M-72.2% | -$71.5M+35.1% | -$36.2M+70.2% | -$67.9M+42.3% | -$60.6M+57.2% | -$110.1M+5.9% | -$121.3M+12.9% | -$117.7M+15.3% |
| Interest Expense | $11.3M-10.6% | $12.3M+38.5% | $12.3M+344.5% | $12.3M+346.9% | $12.6M+136.5% | $8.9M+220.5% | $2.8M+116.6% | $2.8M+65.6% |
| Income Tax | $66K+107.2% | -$25K-115.8% | $150K+126.5% | $147K-75.0% | -$922K-166.3% | $158K-46.6% | -$566K-6388.9% | $587K |
| Net Income | -$176.9M-300.0% | -$85.8M-413.3% | -$22.9M+82.5% | -$80.7M+35.8% | -$44.2M+70.2% | $27.4M+120.4% | -$130.6M+7.9% | -$125.7M+14.3% |
| EPS (Basic) | N/A | -$1.29-250.0% | -$0.62+85.6% | -$1.92+56.8% | N/A | $0.86+352.9% | -$4.32-1067.6% | -$4.44-1010.0% |
| EPS (Diluted) | N/A | -$1.29+64.4% | -$0.62+85.6% | -$1.92+56.8% | N/A | -$3.62-964.7% | -$4.32 | -$4.44 |
| Diluted Shares (Avg) | N/A | 69M+110.4% | 49M+62.3% | 42M+48.7% | N/A | 33M-91.7% | 30M | 28M |
LAZRQ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $131.3M-64.0% | $203.5M-49.6% | $265.5M-30.5% | $319.4M-31.7% | $365.2M-28.7% | $403.4M-27.0% | $381.8M-36.3% | $467.9M-28.9% |
| Current Assets | $56.9M-76.8% | $122.2M-53.7% | $167.3M-27.3% | $206.0M-32.8% | $245.2M-30.1% | $263.9M-32.2% | $230.0M-47.1% | $306.6M-38.0% |
| Cash & Equivalents | $20.3M-75.5% | $54.5M-52.3% | $48.2M-8.0% | $59.3M-45.9% | $82.8M-40.4% | $114.2M+52.8% | $52.3M-41.3% | $109.6M+21.8% |
| Inventory | $6.7M-55.4% | $16.1M-8.7% | $18.0M+28.7% | $13.9M-15.2% | $14.9M+22.2% | $17.6M+5.6% | $14.0M-31.0% | $16.4M+10.0% |
| Accounts Receivable | $6.0M-58.2% | $14.3M-6.1% | $18.5M-6.6% | $28.5M-1.9% | $14.3M+1.0% | $15.2M-19.3% | $19.8M+17.5% | $29.0M+37.9% |
| Goodwill | $1.8M-56.2% | $1.8M-56.2% | $4.0M-46.0% | $4.0M-46.0% | $4.0M-46.0% | $4.0M-79.9% | $7.4M-62.8% | $7.4M-62.8% |
| Total Liabilities | $608.3M+3.8% | $505.1M-23.6% | $513.5M-29.1% | $581.1M-22.3% | $586.0M-20.5% | $661.4M-7.9% | $724.0M-0.7% | $747.8M+1.0% |
| Current Liabilities | $137.1M+126.3% | $62.7M-28.5% | $69.2M-0.1% | $72.7M-20.0% | $60.6M-27.8% | $87.7M+2.3% | $69.3M-26.3% | $90.8M-9.6% |
| Non-Current Liabilities | $471.2M-10.3% | $442.4M-22.9% | $444.3M-32.1% | $508.4M-22.6% | $525.4M-19.6% | $573.7M-9.3% | $654.7M+3.1% | $657.0M+2.6% |
| Long-Term Debt | $0-100.0% | $429.2M | $429.7M | $486.3M | $500.5M-18.7% | N/A | N/A | N/A |
| Total Equity | -$477.0M-116.0% | -$304.9M-18.2% | -$272.2M+20.5% | -$261.7M+6.5% | -$220.8M+1.8% | -$258.0M-55.7% | -$342.1M-164.9% | -$279.8M-240.1% |
| Retained Earnings | -$2.5B-17.3% | -$2.3B-11.3% | -$2.2B-5.7% | -$2.2B-11.6% | -$2.1B-14.8% | -$2.1B-22.3% | -$2.1B-34.6% | -$2.0B-38.9% |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
LAZRQ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$50.5M+18.4% | -$48.0M+14.0% | -$53.7M+30.9% | -$44.2M+45.6% | -$61.9M-17.4% | -$55.8M+1.4% | -$77.7M-6.0% | -$81.2M-25.6% |
| Depreciation & Amortization | $6.1M+19.0% | $3.2M-44.0% | $3.3M-48.4% | $4.4M-45.3% | $5.1M-28.9% | $5.7M-52.1% | $6.4M+40.5% | $8.1M+170.0% |
| Stock-Based Compensation | N/A | $10.5M-68.1% | -$20.7M-153.7% | $19.4M-56.4% | N/A | $32.8M-26.8% | $38.5M-35.0% | $44.5M-20.5% |
| Capital Expenditures | $1.3M+48.3% | $540K-79.7% | $111K-63.2% | $115K-91.0% | $846K+7.6% | $2.7M-38.2% | $302K-94.1% | $1.3M-89.0% |
| Free Cash Flow | -$51.8M+17.5% | -$48.5M+16.9% | -$53.8M+31.0% | -$44.3M+46.3% | -$62.8M-17.2% | -$58.4M+4.0% | -$78.0M+0.6% | -$82.5M-8.1% |
| Investing Cash Flow | $15.1M+196.8% | $40.3M+78.3% | $21.0M+1832.9% | $20.4M-40.6% | -$15.6M-116.1% | $22.6M-2.4% | $1.1M-98.0% | $34.4M-45.0% |
| Financing Cash Flow | -$21K-100.0% | $13.9M-85.4% | $22.4M+15.5% | $284K-98.4% | $46.1M+155.1% | $95.2M+373.8% | $19.4M+2.9% | $17.5M-24.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LAZRQ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -389.3% | -43.1%+47.5pp | -79.5%+3.7pp | -42.9%+7.0pp | 55.5%+153.0pp | -90.6% | -83.2% | -49.9% |
| Operating Margin | -866.1% | -398.2% | -252.5% | -382.7% | -292.2% | -747.8% | -776.4% | -599.8% |
| Net Margin | -1387.7% | -457.9% | -146.5% | -427.3% | -196.7% | 176.9% | -793.9% | -599.5% |
| Return on Assets | -134.7%-122.5pp | -42.2%-49.0pp | -8.6%+25.6pp | -25.3%+1.6pp | -12.1%+16.9pp | 6.8%+31.1pp | -34.2%-10.6pp | -26.9%-4.6pp |
| Current Ratio | 0.42-3.6x | 1.95-1.1x | 2.42-0.9x | 2.83-0.5x | 4.05-0.1x | 3.01-1.5x | 3.32-1.3x | 3.38-1.5x |
| Asset Turnover | 0.100.0x | 0.09+0.1x | 0.060.0x | 0.060.0x | 0.060.0x | 0.040.0x | 0.040.0x | 0.040.0x |
| FCF Margin | -406.3% | -258.8% | -344.3% | -234.8% | -279.3% | -377.0% | -474.2% | -393.5% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$477.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.42), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Luminar Technologies Inc Ranks
Frequently Asked Questions
What is Luminar Technologies Inc's annual revenue?
Luminar Technologies Inc (LAZRQ) reported $66.0M in total revenue for fiscal year 2025. This represents a -12.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Luminar Technologies Inc's revenue growing?
Luminar Technologies Inc (LAZRQ) revenue declined by 12.4% year-over-year, from $75.4M to $66.0M in fiscal year 2025.
Is Luminar Technologies Inc profitable?
No, Luminar Technologies Inc (LAZRQ) reported a net income of -$366.3M in fiscal year 2025.
What is Luminar Technologies Inc's EBITDA?
Luminar Technologies Inc (LAZRQ) had EBITDA of -$279.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Luminar Technologies Inc have?
As of fiscal year 2025, Luminar Technologies Inc (LAZRQ) had $20.3M in cash and equivalents against $0 in long-term debt.
What is Luminar Technologies Inc's free cash flow?
Luminar Technologies Inc (LAZRQ) recorded an outflow of $198.5M in free cash flow during fiscal year 2025. This represents a 29.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Luminar Technologies Inc's operating cash flow?
Luminar Technologies Inc (LAZRQ) recorded an outflow of $196.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Luminar Technologies Inc's total assets?
Luminar Technologies Inc (LAZRQ) had $131.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Luminar Technologies Inc's capital expenditures?
Luminar Technologies Inc (LAZRQ) invested $2.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Luminar Technologies Inc spend on research and development?
Luminar Technologies Inc (LAZRQ) invested $137.6M in research and development during fiscal year 2025.
What is Luminar Technologies Inc's current ratio?
Luminar Technologies Inc (LAZRQ) had a current ratio of 0.42 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Luminar Technologies Inc's return on assets (ROA)?
Luminar Technologies Inc (LAZRQ) had a return on assets of -278.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Luminar Technologies Inc's debt-to-equity ratio negative or not reported?
Luminar Technologies Inc (LAZRQ) has negative shareholder equity of -$477.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Luminar Technologies Inc's Altman Z-Score?
Luminar Technologies Inc (LAZRQ) has an Altman Z-Score of -34.11, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Luminar Technologies Inc's Piotroski F-Score?
Luminar Technologies Inc (LAZRQ) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Luminar Technologies Inc's earnings high quality?
Luminar Technologies Inc (LAZRQ) reported a net loss of $366.3M while operations used $196.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Luminar Technologies Inc cover its interest payments?
Luminar Technologies Inc (LAZRQ) reported an operating loss of $296.8M against $48.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.