Luminar Technologies Inc Stock Price, News & Analysis

Luminar (NASDAQ: LAZR) has achieved a significant milestone with the start of production for SAIC's RISING AUTO, marking a pivotal moment in the transition of autonomous technology from R&D to consumer vehicles. The R7 vehicle will utilize Luminar's lidar technology, enhancing safety and automated driving. In Q3 2022, Luminar reported strong revenue and earnings growth, with an optimistic outlook following major partnerships, including the Polestar 3 and upcoming Volvo EX90. This progress positions Luminar as a key player in the automotive technology industry.

Luminar (NASDAQ: LAZR) will provide its third-quarter 2022 financial update on November 2, 2022, post-market. CEO Austin Russell and CFO Tom Fennimore will host a video webcast at 2:00 p.m. PDT (5:00 p.m. EDT) to discuss results and engage in a live Q&A. Shareholders can submit questions from October 26 to November 1 via an online platform. The event will be streamed live on Luminar’s Investor site, and a replay will be available afterward.

Luminar (NASDAQ: LAZR) reported impressive Q2 2022 results with revenue of $9.9 million, a 57% increase year-over-year. The demand from leading automakers is rising as the company works towards the series production launch of its Iris lidar technology. Luminar is building a new automated facility to accommodate accelerated growth, raising its full-year guidance for major commercial program wins to 60% YoY growth. The company remains on track to achieve its 2022 milestones, including the beta release of its Sentinel software and the launch of Iris by the end of the year.

FreeWire Technologies, a leader in ultrafast electric vehicle charging, has announced the appointment of Alex Fishkin as Chief Legal Officer, Elaine Wu as Vice President of Strategic Sourcing & Logistics, and Mark Marosz as Vice President of Quality & Compliance. These strategic hires come amidst growing demand for EV charging solutions and aim to enhance operations amidst supply chain challenges. FreeWire is also expanding its U.S. operations, driven by the Bipartisan Infrastructure Law, and recently launched a new global headquarters in Newark, CA to accelerate innovation in EV charging.

Luminar (NASDAQ: LAZR) announced the release of its second-quarter 2022 financial results on August 8, 2022, after market close. A video webcast will be held at 2:00 p.m. PT (5:00 p.m. ET) featuring a business update and financial discussion, followed by a Q&A session. Shareholders can submit questions starting July 29 until August 5 via a designated platform. Luminar aims to improve vehicle safety and autonomy through its advanced technology, partnering with major automotive OEMs and tech companies. More details are available on their investor site.

Luminar (Nasdaq: LAZR) has officially joined the US Russell 2000 Index, effective immediately. This inclusion is significant as it positions Luminar towards the top of the index, leading to an anticipated purchase of approximately 30 million shares by associated indices. The Russell indexes, which manage about $12 trillion in assets, are crucial for investment managers and institutional investors. Membership is based on market capitalization and style attributes, affecting Luminar's visibility and investment appeal.

Luminar (NASDAQ: LAZR) is partnering with ECARX to develop automotive-grade technologies aimed at enhancing safety and automation in consumer vehicles and commercial trucks. This collaboration strengthens Luminar's market presence in China, the largest automotive market, and facilitates the deployment of its long-range lidar and software. Luminar is also making a strategic stock-based investment in ECARX, which aims to accelerate the integration of their technologies.

Luminar announces new leadership appointments to enhance its technical capabilities in automotive lidar technology. Taner Ozcelik, former founder of Nvidia's automotive division, joins as executive VP and GM, overseeing product development and R&D. CJ Moore, previously of Tesla and Apple, will lead Luminar's software program. These additions come as Luminar aims to accelerate execution following almost a dozen commercial wins. The firm is focused on advanced safety and autonomous solutions, leveraging its partnerships with major automotive OEMs.

Luminar (NASDAQ: LAZR) reported a successful Q1 2022, achieving $6.9 million in revenue, up 29% YoY, surpassing internal expectations. The company is on track to meet or exceed its $40 million revenue guidance for the year. Key highlights include a partnership with Nissan for their next-gen ADAS, a production deal with Mercedes-Benz, and the acquisition of Freedom Photonics to enhance chip-level technology. Luminar aims for series production readiness of its Iris lidar and software by 2022, with additional commercial wins bolstering its growth strategy.