2023-11-08 16:54:23 ET
- Luminar Technologies press release ( NASDAQ: LAZR ): Q3 Non-GAAP EPS of -$0.21 misses by $0.02 .
- Revenue of $16.96M (+32.7% Y/Y) misses by $2.63M .
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Luminar provided more firm ranges and adjusted certain elements of its 2023 financial guidance as follows.
- Revenue Growth: Luminar expects 2023 revenue of around $75 million, or roughly 85% YoY growth.
- Gross Margin: The company expects to reach gross margin positive on a non-GAAP basis in Q4’23.
- Cash, Cash Equivalents and Marketable Securities (including Liquidity): The company continues to expect to end 2023 with a balance of greater than $300 million, which we believe is sufficient to reach profitability based on our current trajectory.
- Free Cash Flow: Luminar continues to expect to reduce its free cash flow spend by approximately 50% by year-end relative to Q1/Q2 levels. Specifically, Luminar expects Q4 operating cash flow in the range of $(30) million to ($35) million and free cash flow in the range of $(35) million to $(40) million.
For further details see:
Luminar Technologies Non-GAAP EPS of -$0.21 misses by $0.02, revenue of $16.96M misses by $2.63M