![]() The weaker guide is not necessarily a cause of concern, given the high-profile deal expansion with Mercedes supporting growth through mid-decade and beyond, along with numerous other commercial deployments and potential for more large-scale deals. Luminar's guidance was a bit thin - the Street had been expecting to see revenues of ~$116 million for the current fiscal, or +183% y/y. However, the nature of the lidar industry raises questions about margin maintenance, especially when combined with an end goal of lowering per-unit lidar costs to anywhere from $100 to $500.įor FY22, Luminar generated $40.7 million in revenues, about +27.5% y/y growth, driven by nearly +83% y/y product revenue growth.įor FY23, Luminar is forecasting revenue growth in excess of +100% y/y, suggesting revenues of at least $82 million - though revenues could be as high as $105 million, depending on how quickly production can scale in Mexico and if the pace of deployments accelerates in the back half of the year. Luminar also offered a bullish forecast for revenue growth - the lidar maker is targeting revenue growth in excess of 100% each year through FY28. However, reports from Nikkei Asia suggest that Luminar "will seek to lower the cost of each sensor to $100" at the new factory - a price point that can and likely will enable lidar-equipped vehicles to enter the mass market at major (millions of units) volume. Mercedes is looking to equip its next generation of vehicles with Luminar's Iris/Iris+ by mid-decade, but to support a deal of this size, Luminar needs another factory, reportedly looking to Asia to establish a plant dedicated solely to Mercedes' supply.īuilding and tooling a new factory from scratch will likely take 12 to 18 months at a cost of a hundred million dollars or so, should it choose to establish the plant itself, rather than utilizing partnerships such as its Mexico facility with Celestica Inc. Prior to Luminar Day, the company announced a multibillion-dollar deal with Mercedes - while exact financial figures were not announced, the deal is Luminar's biggest, with The Verge reporting a tenfold increase in lidar volume in the deal "Luminar says is larger than all of its other OEM partnerships combined." ![]() Bringing the highly automated facility online can help bring lidar production costs lower, a key facet not just in Luminar's projected positive gross margin by Q4 this year, but also in the long run to enable mass-market deployment. ![]() Luminar looks to be positioning itself to accelerate commercial deployment of its lidar in late 20 until the launch of Iris+ slated for 2025. Luminar also announced the acquisition of Seagate's ( STX) lidar assets, and the establishment of Luminar Semiconductor, combining Black Forest Engineering, Optogration, and Freedom Photonics into a singular unit.Īlso among the announcements were a new commercial deal with Pony.ai, an insurance product tie-up with Swiss Re, and the announced that its highly automated facility in Mexico is expected to come online in Q2 this year, ahead of schedule. One of the main highlights from Luminar Day was the unveiling of Iris+, its next-gen lidar sensor allowing for enhanced lidar performance at higher speeds - the foundation for unlocking higher levels of autonomy. Luminar also announced a forecast to record triple-digit revenue growth each year for the next five years, supported by existing and new design wins along with the burgeoning growth of the lidar industry. It incorporated a new semiconductor subsidiary and entered into exclusive agreements in insurance products and its AI Engine. ![]() ( NASDAQ: LAZR) unveiled the creation of a lidar-powered ecosystem at Luminar Day. Following recent expanded partnerships with Polestar Automotive Holding UK PLC ( PSNY) and a multibillion-dollar deal with Mercedes-Benz Group AG ( OTCPK:MBGYY), Luminar Technologies, Inc. ![]()
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