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Dec 31, 2022
Luminar Q4 2022 Earnings Report
Announced Q4 and full-year 2022 financial results and provided guidance for near-term and long-term profitability.
Key Takeaways
Luminar reported Q4 2022 revenue of $11.1 million and a GAAP net loss of $144.8 million. The company is focusing on achieving key milestones, including bringing a new high-volume manufacturing facility in Mexico online, executing its product and technology roadmap, and growing its order book.
Achieved start of production with Iris.
Advanced software capabilities.
Exceeded year-over-year growth targets for major commercial wins.
Exceeded year-over-year growth targets for forward-looking order book.
Luminar
Luminar
Forward Guidance
Luminar updated its annual business milestone targets and financial guidance for the full year of 2023. The company expects to reach positive gross margin by the fourth quarter.
Positive Outlook
- Bring new high volume, automated manufacturing facility in Mexico online and validate to Volvo’s series production requirements for global vehicle launches
- Enter Iris+ C-phase
- Build next-gen lidar prototype
- Complete software to support Volvo and Mercedes-Benz series production programs
- Add at least $1 billion to forward-looking Order Book in 2023