NASDAQ$LAZRQ
Luminar Technologies Inc. · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced Q2 2024 financial results, bolstered balance sheet, and restructured debt.
Luminar announced a restructuring of $422 million in debt, raised $100 million in new capital, and reported Q2 2024 revenue of $16.5 million. The company is revising its FY 2024 revenue guidance due to slower anticipated series production ramp.
- Reduced convertible debt principal amount by approximately $148 million through exchange of Convertible Senior Notes.
- Received $100 million in new non-convertible Senior Secured Notes due 2028.
- Successfully ramped production for the first global production vehicle with standardized LiDAR.
- Launched Sentinel software solution, with first shipments to automakers expected by the end of Q3 2024.
Headline financials
Revenue & EPS history
Luminar · Revenue · Quarterly
$16.5M
Forward guidance
Luminar is revising elements of its FY 2024 financial guidance to reflect updated expectations of vehicle production ramps in 2H’24, the renegotiation of a non-series production customer contract, as well as the announced capital structure actions.
Tailwinds
- YE’24 Cash & Liquidity increased from >$150 million to >$240 million, which still includes the $50 million line of credit obtained in Q1’24 that remains undrawn.
Headwinds
- Shifting its outlook for a revenue run-rate in the mid-$30 million range from 2H’24 to now in FY’25 due to slower anticipated series production ramp.
- Luminar expects Q3’24 revenue to be in line with to modestly higher versus Q2’24, as a QoQ increase in series production volume is offset by a QoQ decrease in revenue from a non-series production customer for a contract expected to be renegotiated.
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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