Luminar has several prime reasons to be very confident in a large revenue ramp that could easily be far in excess of the 100% growth now targeted. A leader in the Lidar sensor sector will start reporting quarterly revenues no longer at the peanuts level, likely bringing more attention from investors. must average $24 million in revenues per quarter in the 2H of the year. The importance here is that the targets suggest Luminar Technologies, Inc. The 2023 revenue target was kept at at least 100% revenue growth leading to a target in excess of $80 million. Luminar has altered this view with its Q1 revenue approaching $15 million while guidance for Q2 is $15 to $17 million. The end result was a sector not projecting the future very well to Wall Street despite all of the promises for massive growth. ( OUST ), reported large revenues, but the revenues were declining. Even worse, Velodyne Lidar, now owned by Ouster, Inc. A key aspect of the $2.6 million revenue beat for the quarter is that the Lidar sensor company finally reported a material step up in quarterly sales.Ī big problem for the sector is that a handful of companies came public via SPACs over the last couple of years, but most of the companies reported quarterly revenues in the $1 million or less range. Source: Finviz Rapid Luminar Growth Is Hereįor Q1 2023, Luminar reported revenues of $14.5 million for 112% growth. My investment thesis remains ultra Bullish on the stock, with investors now able to buy alongside insiders. The Lidar sensor company is quickly headed towards production ramps, with multiple vehicles and sales growth set to top 100% for several years ahead, yet the stock won't rally.
( NASDAQ: LAZR) continues to trade near all-time lows around $6. Despite all of the great news, Luminar Technologies, Inc.
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