Luminar Technologies Inc - LAZR STOCK NEWS

Luminar (LAZR) has announced a strategic collaboration with Caterpillar to integrate LiDAR technology into Caterpillar's next generation autonomous solution. The partnership will feature two Iris LiDARs in Cat® off-highway trucks, specifically designed for Caterpillar's Command hauling operations in quarry and aggregate sites.

Caterpillar's autonomous trucks have demonstrated significant success, operating across three continents with over 334 million kilometers traveled and moving more than 9.3 billion tonnes. The LiDAR technology will enhance navigation and obstacle detection capabilities in autonomous machines through pulsed laser scanning for precise environmental measurements.

Luminar (NASDAQ: LAZR) reported strong Q4 2024 results with revenue increasing 45% quarter-over-quarter, surpassing forecasts. The company achieved key 2024 milestones including: start of production with Volvo EX90, launching a facility with TPK Group for improved capacity and costs, unveiling next-generation LiDAR (Luminar Halo), and expanding its ecosystem.

For 2025, Luminar aims to:

• Increase series production volume by at least 3x year-over-year
• Progress on Luminar Halo development contracts
• Streamline operations by transitioning to a singular technology platform

The company secured new contracts with an Industrial OEM and a leading auto OEM for Luminar Halo development. Additionally, Volvo ES90 was announced as the second model to feature Luminar's technology in Q3'24.

Luminar (LAZR) has announced its technology will be featured in the new Volvo ES90, marking the second Volvo model to incorporate their technology following the EX90 SUV. The ES90, scheduled for production this year, will integrate Luminar's Iris LiDAR technology into its roofline.

The LiDAR system, working alongside radars, cameras, and ultrasonic sensors, offers superior safety features including the ability to detect pedestrians at up to 250-meter distances and small objects like tires at 120 meters, even in low-light conditions. The technology performs exceptionally well at night, when accidents are more likely to occur.

The ES90 will utilize Volvo's latest SPA2 platform, also used in the EX90. This implementation represents an expansion of the partnership between Luminar and Volvo Cars, introducing advanced driver assistance features to a new category of premium electric vehicles.

Luminar (LAZR), a leading global automotive technology company, has announced its upcoming quarterly business update scheduled for March 20, 2025. The company will release its full-year 2024 milestones, financials, and other relevant commentary after market close at 4:00 p.m. EST.

A webcast featuring prepared remarks and a live Q&A session will follow at 5:00 p.m. EST. Shareholders can participate by submitting questions via email to investors@luminartech.com. The webcast will be accessible through Luminar's Investor site, with a recording available afterward.

Luminar (NASDAQ: LAZR) announced key executive appointments to drive growth and efficiency in 2025. The company welcomed Alex Fishkin as Chief Legal Officer, Michael Southard as Vice President of Engineering, and promoted Marc Losiewicz to Chief Business Officer and General Manager.

Southard, formerly with Block and Meta, will lead LiDAR engineering activities as the company transitions from Iris to Halo products. Fishkin returns to Luminar after previously serving as Chief Legal Officer, bringing extensive legal and technology experience. Losiewicz, a four-year Luminar veteran with automotive industry expertise from ZF, will oversee business operations.

CEO Austin Russell emphasized these appointments align with Luminar's goals of strong growth and increased efficiency, reinforcing the company's position in enabling improved assisted and autonomous capabilities for global automakers.

Luminar (LAZR) announced key business developments in Q3 2024, including an additional model win with Volvo Cars and a new advanced development contract with a major Japanese automaker. The company reported increased production for the Volvo EX90, shipping more products in Q3 than the past three quarters combined. Luminar achieved a significant milestone with its Halo product, successfully demonstrating long-range LiDAR capabilities. The company's financial efficiency improved with Q3'24 Non-GAAP free cash flow showing substantial improvement (~$20M) compared to Q2, supported by recent cost-cutting actions including headcount reduction in non-technical roles.

Luminar (Nasdaq: LAZR), a leading global automotive technology company, has announced its upcoming quarterly business update for Q3 2024. The update will be released on November 11th, 2024, after market close. A webcast featuring financials, business updates, and a live Q&A session is scheduled for 5:00 p.m. EDT on the same day.

Additionally, Luminar reminds investors of a virtual Special Meeting of Stockholders on October 30th, 2024 at 11:00 a.m. EDT. Shareholders will vote on a proposal for a reverse stock split. The company aims to comply with NASDAQ's trading requirements, improve liquidity, and attract institutional investors through this action. Luminar expects the reverse split to address the stock's current trading below $1 and enhance its ability to execute business plans.

Luminar (NASDAQ: LAZR) has announced a significant restructuring of its debt and capital raise, bolstering its balance sheet. Key highlights include:

1. Exchange of $422 million in Convertible Senior Notes due 2026 for $274 million of Convertible Senior Secured Notes due 2030, reducing debt by $148 million.
2. $100 million raised in new non-convertible Senior Secured Notes due 2028.
3. Q2 2024 revenue of $16.5 million, up 2% YoY but down 22% QoQ.
4. Q2 GAAP Net Loss of $(130.6) million, or $(0.29) per share.
5. Ended Q2 with $211.3 million in Cash & Liquidity.
6. Revised FY 2024 guidance, expecting revenue run-rate in mid-$30 million range in FY'25.
7. Increased YE'24 Cash & Liquidity guidance to >$240 million.

Luminar (Nasdaq: LAZR) will provide a quarterly business update for Q2 2024 on August 6, 2024, after market close. The company will release detailed materials at 4:00 p.m. EDT (1:00 p.m. PDT) and host a live webcast with a Q&A session at 5:00 p.m. EDT (2:00 p.m. PDT). Institutional shareholders can submit questions via email, while retail shareholders can use the Say Technologies platform from July 29, 2024. Both question submission methods will remain open during the webcast. The live event will be accessible on Luminar’s Investor site, with a recording available afterward.