2023-05-09 16:02:17 ET
- Luminar Technologies press release ( NASDAQ: LAZR ): Q1 Non-GAAP EPS of -$0.24 misses by $0.03 .
- Revenue of $14.51M (+111.5% Y/Y) beats by $2.57M .
- Cash, Cash Equivalents and Marketable Securities: maintained strong cash position, including marketable securities, of $422.3 million as of March 31, 2023.
- 2023 Outlook: Revenue Growth: Luminar expects at least 100% revenue growth in 2023.
- Gross Margin: The company expects to reach positive gross margin on a non-GAAP basis by the fourth quarter.
- Cash, Cash Equivalents and Marketable Securities (including liquidity): The company expects to end the year with a balance of greater than $300 million, which is more than required to execute on its current plan for profitability. As Luminar’s business ramps up and launch costs ramp down throughout the year, the company expects to demonstrate solid progress towards its profitability goals with its free cash flow run rate expected to improve approximately 50% by year-end relative to Q1.
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Luminar Technologies Non-GAAP EPS of -$0.24 misses by $0.03, revenue of $14.51M beats by $2.57M