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Dec 31, 2024
Luminar Q4 2024 Earnings Report
Luminar reported its Q4 2024 results with strong revenue growth and positive gross profit, driven by higher sensor sales and cost-saving initiatives.
Key Takeaways
Luminar exceeded expectations in Q4 2024 with $22.48 million in revenue, a 45% increase quarter-over-quarter. The company achieved a positive gross profit and continued to ramp production for key automotive partners like Volvo. Significant cost reductions and restructuring initiatives improved operational efficiency, although net losses remained.
Revenue grew 45% quarter-over-quarter to $22.48 million.
Achieved positive GAAP gross profit of $12.48 million.
Shipped over 4,000 LiDAR units in Q4 2024.
Ended the quarter with $232.7 million in cash and liquidity.
Forward Guidance
Luminar expects continued growth in FY 2025, projecting total revenue growth of 10% to 20%, with a focus on ramping series production volumes and transitioning customers to the Luminar Halo platform.
Positive Outlook
- Ramp series production volume at least 3x year-over-year.
- Progress on Luminar Halo milestones in customer development contracts.
- Streamlining operations with singular technology platform.
- OpEx improvements driven by cost reduction actions.
- End FY’25 with more than $150 million in cash and liquidity.
Challenges Ahead
- Q1’25 revenue expected to be lower quarter-over-quarter.
- Continued quarterly gross losses anticipated through FY’25.
- Series production volumes not yet sufficient for positive gross margin.
- Growth offset by renegotiated non-series production contracts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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