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Jun 30, 2022
Luminar Q2 2022 Earnings Report
Reported revenue ahead of expectations with increased guidance.
Key Takeaways
Luminar reported Q2 2022 revenue of $9.9 million, a 57% increase year-over-year. The company raised its full-year guidance for major commercial program wins and order book growth from 40% to 60%. They are also raising full-year 2022 revenue outlook to $40 million to $45 million, up from $40 million.
Q2 revenue was $9.9 million, up 57% year-over-year.
GAAP net loss was $95.2 million, or $(0.27) per share.
Non-GAAP net loss was $65.0 million, or $(0.18) per share.
Cash, cash equivalents, and marketable securities were $605.3 million as of June 30, 2022.
Luminar
Luminar
Forward Guidance
Luminar is raising its full-year 2022 revenue outlook to $40 million to $45 million and expects growth of major commercial program wins and order book from 40% YoY to 60% YoY growth.
Positive Outlook
- On track to meet or beat all four of its key 2022 business milestones.
- Remains on track to achieve series production readiness for Iris lidar and core software by the end of 2022.
- Raising full-year guidance for growth of major commercial program wins from 40% to 60% YoY growth.
- Raising full-year guidance for growth of its forward-looking order book from 40% YoY to 60% YoY growth.
- Planning the build-out of a larger, fully dedicated and automated facility.