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LAZR

Luminar Technologies, Inc.

LAZR

Luminar Technologies, Inc. • NASDAQ
$0.91 ▲ 11.07% (+0.09)
Market Cap $66.15 M
52w High $10.40
52w Low $0.78
Dividend Yield 0%
P/E -0.19
Volume 2.60M
Outstanding Shares 72.99M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $18.749M ▲ $66.581M ▲ $-85.845M ▼ -457.864% ▼ $-1.29 ▼ $-69.344M ▼
Q2-2025 $15.634M ▼ $27.052M ▼ $-22.899M ▲ -146.469% ▲ $-0.62 ▲ $-4.607M ▲
Q1-2025 $18.886M ▼ $64.172M ▼ $-80.691M ▼ -427.253% ▼ $-1.92 ▼ $-61.892M ▼
Q4-2024 $22.484M ▲ $78.166M ▼ $-44.222M ▼ -196.682% ▼ $-1.26 ▼ $-25.416M ▼
Q3-2024 $15.493M $101.825M $27.403M 176.873% $0.86 $44.414M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $76.6M ▼ $203.516M ▼ $505.077M ▼ $-301.561M ▼
Q2-2025 $107.631M ▼ $265.487M ▼ $513.456M ▼ $-247.969M ▲
Q1-2025 $138.185M ▼ $319.449M ▼ $581.119M ▼ $-261.67M ▼
Q4-2024 $182.667M ▼ $365.213M ▼ $586.002M ▼ $-220.789M ▲
Q3-2024 $198.618M $403.414M $661.425M $-258.011M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-85.845M ▼ $-47.978M ▲ $40.266M ▲ $13.898M ▼ $6.186M ▲ $-48.518M ▲
Q2-2025 $-22.899M ▲ $-53.725M ▼ $20.972M ▲ $22.437M ▲ $-10.316M ▲ $-53.836M ▼
Q1-2025 $-80.691M ▼ $-44.229M ▲ $20.445M ▲ $284K ▼ $-23.5M ▲ $-44.344M ▲
Q4-2024 $-44.222M ▼ $-61.938M ▼ $-15.636M ▼ $46.15M ▼ $-31.424M ▼ $-62.784M ▼
Q3-2024 $27.403M $-55.756M $22.588M $95.221M $62.053M $-58.414M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $40.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Service
Service
 $0 ▲$10.00M ▲$0 ▼$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Luminar is still very much in the “build” phase: revenue is small but rising steadily, while costs to develop and commercialize its technology are very high. The company has not yet reached positive gross margins, meaning it loses money even before overhead and R&D. Operating and net losses are large and have persisted for years, reflecting heavy spending on engineering, manufacturing scale-up, and go‑to‑market. There are some early signs that losses are no longer worsening, but the business remains far from break-even and earnings per share are deeply negative.

Balance Sheet

Balance Sheet The balance sheet has weakened over time. Total assets have come down from earlier peaks, cash has declined, and debt has grown to the point where liabilities now exceed assets, resulting in negative equity. This is a classic “stressed balance sheet” profile. The referenced need for forbearance agreements with noteholders underlines that the company is working through real financial pressure and lender negotiations, not operating from a position of balance-sheet strength.

Cash Flow

Cash Flow Luminar is consistently burning cash from operations as it funds R&D, production ramp-up, and customer programs. Free cash flow is deeply negative, with only modest capital spending on physical assets, so most of the cash burn is from running and building the business rather than big factories or equipment. This pattern is typical of an early-stage, high-tech industrial company, but it also means the business remains dependent on outside financing or restructuring to sustain its plans until it can generate meaningful customer cash inflows.

Competitive Edge

Competitive Edge On the competitive side, Luminar has carved out a notable position in automotive lidar, particularly for advanced driver assistance and highway autonomy. Its use of a higher-wavelength laser, focus on long-range and high-resolution performance, and integration of hardware with perception software set it apart technologically. Partnerships with prominent automakers give it credibility and potential volume, and its move to automotive-grade manufacturing in Mexico supports scale and cost reduction. At the same time, the lidar and ADAS space is crowded, alternatives like cameras and radar are improving, and carmakers tend to be cost-sensitive and risk-averse. Winning and keeping design slots in production vehicles over the long term will require flawless execution, competitive pricing, and continued technical leadership.

Innovation and R&D

Innovation and R&D Innovation is a clear strength. Luminar’s vertically integrated “chip-up” design, its 1550nm lidar architecture, full-stack Sentinel software, and features such as Proactive Safety all show deep R&D investment and a system-level view of autonomy. The planned Halo platform, with higher performance, smaller form factor, and lower cost, represents a major next step and a potential pivot from niche to broader adoption if executed well. The roadmap also points to a unified product architecture and expansion into trucking and robo‑taxis, which could open additional markets. However, these are forward-looking projects: they demand significant ongoing R&D spending, precise execution on complex hardware and software, and successful industrialization on tight automotive timelines.

Summary

Luminar sits at the intersection of cutting-edge automotive technology and real financial strain. On one hand, it has differentiated lidar technology, meaningful intellectual property, and high-profile partnerships that could translate into substantial long-term revenue if its systems become standard in more vehicles. On the other hand, the company is still at a very early commercial stage, with small revenue, large recurring losses, heavy cash burn, a weakened balance sheet, and signs of creditor tension. The story is highly binary: success hinges on turning design wins and its next-generation products into scaled, profitable production before financial constraints limit its ability to keep investing. Uncertainty is high, and outcomes will largely be determined by execution quality, adoption by automakers, and access to capital over the next several years.

NEWS

November 24, 2025 · 9:00 AM UTC

Luminar Media Group Submits Initial Application to List on Nasdaq Capital Market

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November 20, 2025 · 9:00 AM UTC

Luminar Media Group Reserves Ticker Symbol "FRTU" with Nasdaq

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November 13, 2025 · 4:01 PM UTC

Luminar Reports Q3'25 Financials

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November 10, 2025 · 9:00 AM UTC

Luminar Media Group Delivers Record Results as Fortun Platform Scales Profitably

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October 27, 2025 · 7:22 PM UTC

HALPER SADEH LLC ENCOURAGES LUMINAR TECHNOLOGIES, INC. SHAREHOLDERS TO CONTACT THE FIRM TO DISCUSS THEIR RIGHTS

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