Luminar Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 02:41 am IST
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Luminar Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 16.96 million compared to USD 12.79 million a year ago. Net loss was USD 134.34 million compared to USD 117.55 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to USD 0.33 a year ago.
For the nine months, revenue was USD 47.67 million compared to USD 29.57 million a year ago. Net loss was USD 422.87 million compared to USD 301.12 million a year ago. Basic loss per share from continuing operations was USD 1.11 compared to USD 0.85 a year ago.
Luminar Technologies, Inc. is a global automotive technology company, which is engaged in vehicle safety and autonomy. The Company enables safety and autonomous capabilities for passenger and commercial vehicles as well as other adjacent markets. The Company operates through two segments: Autonomy Solutions and Advanced Technologies and Services (ATS). The Autonomy Solutions segment is engaged in design, manufacturing, and sale of lidar sensors catering mainly to the original equipment manufacturers (OEMs) in the automobile, commercial vehicle, robo-taxi, and adjacent industries. The ATS segment provides advanced semiconductors and related components, as well as design, test, and consulting services to the Autonomy Solutions segment and to various third-party customers, including government agencies and defense contractors, in markets generally unrelated to autonomous vehicles. The Company's products include Iris lidar, Core Sensor Software, Driving Functions Software, and Sentinel.