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Mar 31, 2022
Luminar Q1 2022 Earnings Report
Reported a 29% year-over-year revenue increase and is on track for all four key 2022 milestones and financial guidance.
Key Takeaways
Luminar Technologies announced its Q1 2022 financial results, reporting $6.9 million in revenue, a 29% increase year-over-year, and is on track to meet or beat its prior $40 million full-year 2022 revenue guidance. The company also established a partnership with Nissan and acquired Freedom Photonics to advance its chip-level technology roadmap.
Revenue of $6.9 million, up 29% year-over-year and ahead of internal expectations.
On track to meet or beat its prior $40 million full-year 2022 revenue guidance.
Established Nissan Partnership for their next-generation ADAS and safety system.
Acquired Freedom Photonics to advance chip-level technology roadmap and lower costs.
Luminar
Luminar
Forward Guidance
Luminar maintains its full-year 2022 revenue and cash spend guidance.
Positive Outlook
- On track to achieving series production readiness for Iris lidar and core software in 2022.
- Expecting positive results from independent study validating Proactive Safety™ capability.
- Achieved two additional major commercial wins year-to-date (Mercedes and Nissan).
- Expects to meet or beat the 40% growth target for major commercial wins for the full year.
- Company expects to achieve its forward-looking order book growth target of at least 40% YoY in 2022.