NASDAQ$LAZRQ
Luminar Technologies Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Luminar achieved global SOP with Volvo Cars and kicked off conversion of multi-billion dollar order book to revenue.
Luminar's Q1 2024 revenue was $21.0M, a 45% increase year-over-year but a 5% decrease quarter-over-quarter. The company's gross loss improved quarter-over-quarter due to lower launch-related costs. They ended the quarter with $268.3M in cash and liquidity.
- Global SOP with Volvo Cars was achieved, starting with the EX90.
- The Volvo EX90 launch will mark the first time Luminar's multi-billion dollar Order Book will begin to materially convert into revenue.
- Luminar is planned into 25+ commercial programs and is powertrain agnostic.
- NHTSA's new rule mandating advanced, higher-speed automatic emergency braking (AEB) is a tailwind for Luminar.
Headline financials
Revenue & EPS history
Luminar · Revenue · Quarterly
$21M
Forward guidance
The company continues to expect to achieve a quarterly run rate of revenue in the mid-$30M range reflecting the production ramp with Volvo in 2H’24 and expects to end FY’24 with >$150M in Cash & Liquidity.
Tailwinds
- Strong growth in sensor sales and revenue in 2H’24 as production ramps up.
- Expect Q2’24 Change in Cash to improve versus Q1’24, due to reduced working capital investment and early returns on cost saving actions.
- Quarterly Revenue Run Rate of Mid-$30M in 2H’24
- Cash & Liquidity >$150M at YE’24
Headwinds
- Q2’24 Revenue to potentially be lower versus Q1’24 as the current work-phase for two non-series production customer contracts was successfully completed recently and terms for the next phase are being finalized.
- Series production revenue for Volvo in Q2 is expected to be modest as they begin their ramp.
- Will begin recording contra revenue for Volvo related to warrants issued in 2020.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
-2.1%
Avg return
Earnings day
-15.7%
Avg return
5 days after
-10.0%
Avg return
30 days after
33%
9 / 27 earnings
Positive
+33.0%
Q4 2024
Best reaction
-34.3%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | -5.7% | -15.7% | -10.0% | |
| Q2 2025 | -16.1% | — | — | |
| Q1 2025 | -17.0% | — | — | |
| Q4 2024 | +33.0% | — | — | |
| Q3 2024 | +28.6% | — | — | |
| Q2 2024 | -34.3% | — | — | |
| Q1 2024 | -2.7% | — | — | |
| Q4 2023 | +6.3% | — | — | |
| Q3 2023 | -12.1% | — | — | |
| Q2 2023 | -7.0% | — | — | |
| Q1 2023 | -7.9% | — | — | |
| Q4 2022 | +2.1% | — | — | |
| Q3 2022 | -9.9% | — | — | |
| Q2 2022 | +13.3% | — | — | |
| Q1 2022 | -9.4% | — | — | |
| Q4 2021 | +8.3% | — | — | |
| Q3 2021 | +3.9% | — | — | |
| Q2 2021 | -6.6% | — | — | |
| Q1 2021 | +6.2% | — | — | |
| Q4 2020 | -9.9% | — | — | |
| Q2 2020 | -9.9% | — | — | |
| Q4 2019 | -9.9% | — | — | |
| Q3 2020 | -0.8% | — | — | |
| Q1 2020 | +0.2% | — | — | |
| Q3 2019 | +0.0% | — | — | |
| Q2 2019 | +0.0% | — | — | |
| Q1 2019 | +0.0% | — | — |
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