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Jun 30, 2021
Luminar Q2 2021 Earnings Report
Reported strong Q2 2021 results with increased revenue and solidified position in automotive lidar market.
Key Takeaways
Luminar Technologies reported an 84% year-over-year increase in revenue for Q2 2021, reaching $6.3 million. The company is raising its full-year 2021 revenue guidance to $30 to $33 million. Luminar also achieved significant commercial wins, including standardization with Volvo, and is increasing its forward-looking order book growth target.
Revenue increased by 84% year-over-year to $6.3 million.
Non-GAAP net loss was $27.7 million, or $(0.08) per share.
Increased full-year revenue guidance to $30 to $33 million.
Raised forward-looking order book growth target to 60%.
Luminar
Luminar
Forward Guidance
Luminar raised its full-year 2021 revenue guidance and forward-looking order book growth target, driven by strong year-to-date execution and accelerating OEM adoption.
Positive Outlook
- Increased full-year 2021 revenue guidance to $30 to $33 million.
- Raising its 2021 forward-looking order book growth target to 60%.
- Locked down over 85% of its series production supply chain and tooling for Iris.
- Doubling its major commercial win target this year to six from three.
- Volvo’s decision to make Luminar a standard feature on its next-generation electric SUV.