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Luminar Technologies(LAZR) - 2025 Q2 - Quarterly Results
2025-08-12 20:13
[Q2 2025 Earnings Overview](index=1&type=section&id=Q2%202025%20Earnings%20Overview) [Company Highlights and Strategic Focus](index=1&type=section&id=Company%20Highlights%20and%20Strategic%20Focus) Luminar advanced key auto milestones, streamlined operations, and exited non-core businesses to focus on Halo - Luminar advanced key auto customer milestones in Q2 and is pursuing growth opportunities in commercial markets[2](index=2&type=chunk) - The company is exiting non-core data and insurance businesses to drive cost reductions and operational discipline[2](index=2&type=chunk)[3](index=3&type=chunk) - CEO Paul Ricci emphasized delivering on customer commitments, advancing Halo as the foundation, and sharpening focus on near-term revenue and profit opportunities beyond automotive[3](index=3&type=chunk) [About Luminar](index=2&type=section&id=About%20Luminar) Luminar develops proprietary LiDAR hardware and software for automotive, commercial, and defense sectors - Luminar is a global technology company advancing safety, security, and autonomy across automotive, commercial, and defense sectors[13](index=13&type=chunk) - The company develops proprietary LiDAR hardware, software, semiconductor, and photonics technologies in-house to meet demanding performance and scalability requirements[13](index=13&type=chunk) - With series production underway and commercial traction, Luminar is positioned to deliver next-generation advanced, mission-critical LiDAR and photonics solutions[13](index=13&type=chunk) [Q2 2025 Financial Performance](index=1&type=section&id=Q2%202025%20Financial%20Performance) [Key Q2 2025 Financials](index=1&type=section&id=Key%20Q2%202025%20Financials) Q2 2025 revenue was $15.6 million (down 5% YoY), GAAP net loss $(30.5) million, and $107.6 million cash Q2 2025 Key Financials | Metric | Q2 2025 (Millions) | Change YoY (vs Q2'24) | Change QoQ (vs Q1'25) | | :-------------------------- | :----------------- | :-------------------- | :-------------------- | | Revenue | $15.6 | -5% | -17% | | GAAP Gross Loss | $(12.4) | N/A | N/A | | Non-GAAP Gross Loss | $(10.8) | N/A | N/A | | GAAP Net Loss | $(30.5) | N/A | N/A | | GAAP Net Loss per Share | $(0.62) | N/A | N/A | | Non-GAAP Net Loss | $(73.1) | N/A | N/A | | Non-GAAP Net Loss per Share | $(1.49) | N/A | N/A | | GAAP Operating Expenses | $(27.1) | N/A | N/A | | Non-GAAP Operating Expenses | $47.0 | N/A | N/A | | Cash & Marketable Securities (End of Q2'25) | $107.6 | N/A | N/A | - Q2 Revenue was **$15.6 million**, down **5%** compared to Q2'24, and **17%** compared to Q1'25, consistent with guidance for revenue to be lower QoQ[8](index=8&type=chunk) - Ended Q2'25 with **$107.6 million** in Cash & Marketable Securities, excluding an undrawn **$50 million** line of credit, **$180 million** remaining under the equity financing program, and **$165 million** of convertible preferred facility[8](index=8&type=chunk) [Business Milestones and Outlook](index=1&type=section&id=Business%20Milestones%20and%20Outlook) [Operational Milestones](index=1&type=section&id=Operational%20Milestones) Luminar outlined Halo milestones: ASIC tape-out, Thailand production by Q4'25, prototype Q1'26, B-sample Q2'26 - ASIC tape-out for Halo is expected by the end of **Q4'25**[8](index=8&type=chunk) - High-volume production line in Thailand is expected to be live by the end of **Q4'25**[8](index=8&type=chunk) - Low-volume Halo prototype line launch is planned by the end of **Q1'26**, with Halo B-sample delivery by the end of **Q2'26**[8](index=8&type=chunk) [Revised FY 2025 Financial Guidance](index=1&type=section&id=Revised%20FY%202025%20Financial%20Guidance) Luminar revised FY25 guidance, reducing sensor shipments and total revenue forecasts, with non-GAAP losses consistent - Luminar is revising elements of its FY 2025 financial guidance to reflect updated expectations of vehicle production ramps in 2H'25 and the winding down of non-core business, including a data contract and insurance initiative[6](index=6&type=chunk) Revised FY 2025 Financial Guidance | Metric | Previous Guidance | Revised Guidance | Change | | :------------------------------------ | :---------------- | :--------------- | :----- | | Sensor Shipments | 30 thousands to 33 thousands | 20 thousands to 23 thousands | Down | | Total Revenue | $82 million to $90 million (implied) | $67 million to $74 million | Down | | Non-GAAP Gross Loss (per quarter, average) | $(5) million to $(10) million | $(5) million to $(10) million (likely towards higher-end) | Unchanged | | Non-GAAP Quarterly Operating Expenses (by YE'25) | Low ~$30 million range | Low ~$30 million range | Unchanged | | YE'25 Cash & Marketable Securities | > $100 million (excluding LOC) | $80 million to $100 million (excluding LOC) | Down | [Q3 2025 Revenue Expectation](index=1&type=section&id=Q3%202025%20Revenue%20Expectation) Luminar anticipates Q3 2025 revenue to be in the range of $17 million to $19 million Q3 2025 Revenue Expectation | Metric | Q3 2025 Expectation | | :----- | :------------------ | | Revenue | $17 million to $19 million | [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets $265.5 million (down), liabilities $513.5 million (down), stockholders' deficit $(272.2) million (up) Condensed Consolidated Balance Sheets (in thousands) | Metric | June 30, 2025 (Unaudited) | December 31, 2024 | | :-------------------------------- | :------------------------ | :---------------- | | **ASSETS** | | | | Total current assets | $167,328 | $245,227 | | Total assets | $265,487 | $365,213 | | **LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' DEFICIT** | | | | Total current liabilities | $69,187 | $60,588 | | Debt | $429,679 | $500,516 | | Total liabilities | $513,456 | $586,002 | | Total stockholders' deficit | $(272,179) | $(220,789) | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 revenue was $15.6 million (down YoY), with GAAP gross loss $(12.4) million and net loss $(30.5) million Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | Total revenue | $15,634 | $16,451 | $34,520 | $37,419 | | Total cost of sales | $28,061 | $30,131 | $55,047 | $61,554 | | Gross loss | $(12,427) | $(13,680) | $(20,527) | $(24,135) | | Total operating expenses | $27,052 | $114,042 | $91,224 | $229,356 | | Loss from operations | $(39,479) | $(127,722) | $(111,751) | $(253,491) | | Net loss attributable to common stockholders | $(30,501) | $(130,607) | $(111,192) | $(256,321) | | Basic and diluted net loss per share | $(0.62) | $(4.32) | $(2.44) | $(8.76) | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities decreased to $(97.9) million, with investing activities providing $41.4 million Condensed Consolidated Statements of Cash Flows (in thousands) | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | | Net cash used in operating activities | $(97,954) | $(158,936) | | Net cash provided by investing activities | $41,417 | $35,511 | | Net cash provided by financing activities | $22,721 | $36,894 | | Net decrease in cash, cash equivalents and restricted cash | $(33,816) | $(86,531) | | Ending cash, cash equivalents and restricted cash | $50,906 | $54,093 | [Non-GAAP Reconciliations](index=2&type=section&id=Non-GAAP%20Reconciliations) [Non-GAAP Financial Measures Disclosure](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20Disclosure) Non-GAAP measures enhance comparability but are not GAAP alternatives; forward-looking reconciliation is unavailable - Non-GAAP measures are used to enhance investors' and analysts' ability to meaningfully compare results from period to period and to forward-looking guidance, and to identify operating trends[10](index=10&type=chunk) - These non-GAAP measures are not in accordance with, or an alternative for, GAAP, and should not be considered in isolation or as a substitute for GAAP financial information[10](index=10&type=chunk) - A forward-looking reconciliation of non-GAAP gross loss and non-GAAP operating expenses for fiscal 2025 is not available due to the inability to present various reconciling cash and non-cash items without unreasonable effort, particularly stock-based compensation expense[11](index=11&type=chunk) [Reconciliation of GAAP Cost of Sales to Non-GAAP Cost of Sales](index=6&type=section&id=Reconciliation%20of%20GAAP%20Cost%20of%20Sales%20to%20Non-GAAP%20Cost%20of%20Sales) GAAP cost of sales was $28.1 million, adjusted to non-GAAP cost of sales of $26.4 million after various adjustments Reconciliation of GAAP Cost of Sales to Non-GAAP Cost of Sales (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | GAAP cost of sales | $28,061 | $30,131 | $55,047 | $61,554 | | Stock-based compensation | $(1,361) | $(298) | $(2,652) | $(3,693) | | Amortization of intangible assets | $(165) | $(166) | $(394) | $(332) | | Accelerated depreciation | $(143) | $(1,295) | $(286) | $(3,430) | | Non-GAAP cost of sales | $26,392 | $28,372 | $51,715 | $54,099 | [Reconciliation of GAAP Gross Loss to Non-GAAP Gross Loss](index=6&type=section&id=Reconciliation%20of%20GAAP%20Gross%20Loss%20to%20Non-GAAP%20Gross%20Loss) Q2 2025 GAAP gross loss was $(12.4) million, adjusted to non-GAAP gross loss of $(10.8) million after add-backs Reconciliation of GAAP Gross Loss to Non-GAAP Gross Loss (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | GAAP gross loss | $(12,427) | $(13,680) | $(20,527) | $(24,135) | | Stock-based compensation | $1,361 | $298 | $2,652 | $3,693 | | Amortization of intangible assets | $165 | $166 | $394 | $332 | | Accelerated depreciation | $143 | $1,295 | $286 | $3,430 | | Non-GAAP gross loss | $(10,758) | $(11,921) | $(17,195) | $(16,680) | [Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses](index=6&type=section&id=Reconciliation%20of%20GAAP%20Operating%20Expenses%20to%20Non-GAAP%20Operating%20Expenses) Q2 2025 GAAP operating expenses were $27.1 million, adjusted to non-GAAP operating expenses of $47.0 million Reconciliation of GAAP Operating Expenses to Non-GAAP Operating Expenses (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | GAAP operating expenses | $27,052 | $114,042 | $91,224 | $229,356 | | Stock-based compensation | $22,007 | $(36,781) | $3,870 | $(77,851) | | Impairment of investments | — | $(4,000) | — | $(4,000) | | Restructuring costs | $(1,180) | $(6,262) | $(1,244) | $(6,262) | | Amortization of intangible assets | $(866) | $(834) | $(1,669) | $(1,668) | | Non-GAAP operating expenses | $47,013 | $66,164 | $92,181 | $139,343 | [Reconciliation of GAAP Net Loss to Non-GAAP Net Loss](index=7&type=section&id=Reconciliation%20of%20GAAP%20Net%20Loss%20to%20Non-GAAP%20Net%20Loss) Q2 2025 GAAP net loss was $(30.5) million, adjusted to non-GAAP net loss of $(73.1) million after adjustments Reconciliation of GAAP Net Loss to Non-GAAP Net Loss (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | GAAP net loss attributable to common stockholders | $(30,501) | $(130,607) | $(111,192) | $(256,321) | | Stock-based compensation, excluding restructuring | $(20,646) | $37,079 | $(1,218) | $81,544 | | Amortization of intangible assets | $1,031 | $1,000 | $2,063 | $2,000 | | Gain on extinguishment of debt | $(15,281) | — | $(22,056) | — | | Change in the fair value of derivative liabilities | $(8,991) | — | $(5,320) | — | | Non-GAAP net loss attributable to common stockholders | $(73,065) | $(81,133) | $(136,145) | $(161,590) | | Non-GAAP net loss per share attributable to common stockholders | $(1.49) | $(2.68) | $(2.99) | $(5.52) | [Reconciliation of GAAP Operating Cash Flow to Non-GAAP Free Cash Flow](index=8&type=section&id=Reconciliation%20of%20GAAP%20Operating%20Cash%20Flow%20to%20Non-GAAP%20Free%20Cash%20Flow) Q2 2025 GAAP operating cash flow was $(53.7) million, adjusted to non-GAAP free cash flow of $(53.8) million Reconciliation of GAAP Operating Cash Flow to Non-GAAP Free Cash Flow (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | :------------------------------- | | GAAP operating cash flow | $(53,725) | $(77,707) | $(97,954) | $(158,936) | | Purchases of property and equipment | $(111) | $(302) | $(226) | $(1,586) | | Non-GAAP free cash flow | $(53,836) | $(78,009) | $(98,180) | $(160,522) | [Summary of Stock-Based Compensation and Intangibles Amortization](index=8&type=section&id=Summary%20of%20Stock-Based%20Compensation%20and%20Intangibles%20Amortization) Q2 2025 total stock-based compensation was $(20.7) million and intangibles amortization was $1.0 million Summary of Stock-Based Compensation and Intangibles Amortization (in thousands) | Category | Three Months Ended June 30, 2025 (Stock-Based Compensation) | Three Months Ended June 30, 2025 (Intangibles Amortization) | Six Months Ended June 30, 2025 (Stock-Based Compensation) | Six Months Ended June 30, 2025 (Intangibles Amortization) | | :-------------------------- | :---------------------------------------------------------- | :---------------------------------------------------------- | :---------------------------------------------------------- | :---------------------------------------------------------- | | Cost of Sales | $1,361 | $165 | $2,652 | $394 | | Research and development | $4,792 | $600 | $11,129 | $1,199 | | Sales and marketing | $2,109 | $266 | $3,275 | $470 | | General and administrative | $(28,908) | — | $(18,274) | — | | Restructuring costs | $(11) | — | $(59) | — | | **Total** | **$(20,657)** | **$1,031** | **$(1,277)** | **$2,063** | [Additional Information](index=1&type=section&id=Additional%20Information) [Webcast Details](index=1&type=section&id=Webcast%20Details) Luminar hosted a webcast on August 12, 2025, discussing Q2 financials and business updates, with a recording available - A webcast featuring second quarter 2025 financials, business update, and live Q&A was held on **August 12, 2025, at 5:00 p.m. EDT**[8](index=8&type=chunk) - The webcast was available live on Luminar's Investor site at https://www.luminartech.com/quarterlyreview, with a recording available following its conclusion[8](index=8&type=chunk)[9](index=9&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) Press release contains forward-looking statements for 2025 outlook, liquidity, and Halo development, subject to risks - The press release contains forward-looking statements regarding the outlook for **2025**, including revenue, liquidity resources, sensor shipments, gross loss, operating expense, and expectations for Luminar Halo[12](index=12&type=chunk) - These statements are based on management expectations and assumptions and involve risks, uncertainties, and other factors that could cause actual results to differ materially[12](index=12&type=chunk) - Luminar assumes no obligation to update any forward-looking statements, which speak only as of the date they are made[12](index=12&type=chunk) [Contact Information](index=9&type=section&id=Contact%20Information) Contact information for Luminar's Investor Relations and Media Relations departments is provided - Investor Relations contact: **Yarden Amsalem** at Investors@luminartech.com[31](index=31&type=chunk) - Media Relations contact: **Milin Mehta** at Press@luminartech.com[31](index=31&type=chunk)
ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Luminar Technologies, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - LAZR
GlobeNewswire News Room· 2025-08-10 21:08
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Luminar Technologies, Inc. securities during the specified class period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by September 22, 2025 [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [4]. Group 2: Case Allegations - The lawsuit alleges that Luminar's executives made false and misleading statements and failed to disclose critical information regarding the conduct of Austin Russell, the company's President, CEO, and Chairman [5]. - It is claimed that Russell's undisclosed conduct posed a material risk to his position and, consequently, to Luminar's business operations and competitive standing [5]. - The lawsuit asserts that Luminar lacked a reasonable basis for its financial guidance due to these undisclosed risks, leading to materially false public statements [5].
ROSEN, A RANKED AND LEADING LAW FIRM, Encourages Luminar Technologies, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - LAZR
GlobeNewswire News Room· 2025-08-07 19:19
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Luminar Technologies, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline on September 22, 2025 [1]. Group 1: Class Action Details - Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting the law firm or visiting their website [3][6]. - The lawsuit claims that Luminar's executives made false and misleading statements, which led to investor damages when the truth was revealed [5]. Group 2: Legal Representation - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting their own success in recovering significant amounts for investors [4]. - The firm has been recognized for its achievements in securities class action settlements, including a notable settlement of over $438 million in 2019 [4]. Group 3: Case Specifics - The lawsuit alleges that Luminar's President, CEO, and Chairman, Austin Russell, was involved in undisclosed conduct that posed risks to his position and the company's business operations [5]. - The negative implications of Russell's potential departure could adversely affect Luminar's competitive standing, R&D management, and customer relationships [5].
ROSEN, LEADING INVESTOR COUNSEL, Encourages Luminar Technologies, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - LAZR
GlobeNewswire News Room· 2025-08-04 20:25
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Luminar Technologies, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by September 22, 2025 [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [4]. Group 2: Case Allegations - The lawsuit alleges that Luminar's executives made false and misleading statements and failed to disclose critical information regarding CEO Austin Russell's undisclosed conduct, which could lead to his removal [5]. - The potential loss of Russell is claimed to pose a material risk to Luminar's business operations, including competition, R&D management, and customer relationships [5]. - The lawsuit asserts that Luminar lacked a reasonable basis for its financial guidance, rendering public statements materially false and misleading [5].
ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Luminar Technologies, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - LAZR
GlobeNewswire News Room· 2025-08-02 01:16
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Luminar Technologies, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by September 22, 2025 [3][5]. - The lawsuit alleges that Luminar's executives made false and misleading statements, which created material risks affecting the company's business and financial guidance [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time [4]. - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its effectiveness in representing clients [4].
LAZR Class Action Alert: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in the Luminar Technologies, Inc. Class Action
Prnewswire· 2025-07-30 12:12
Core Viewpoint - A class action lawsuit has been filed against Luminar Technologies, Inc. for failing to disclose misconduct by its President and CEO, which led to a significant drop in stock price following his resignation [1][2][3]. Group 1: Allegations and Impact - The lawsuit alleges that Luminar's management failed to disclose that CEO Russell was under inquiry by the Audit Committee, which posed a material risk to the company [2]. - The misconduct created risks that could adversely affect Luminar's business operations, including competition, R&D management, and customer relationships [2]. - Following the announcement of Russell's resignation on May 14, 2025, Luminar's stock price fell by $0.80, or 16.80%, closing at $3.96 per share on May 15, 2025 [3]. Group 2: Legal Proceedings - Shareholders may be eligible to participate in the class action and can contact Robbins LLP to serve as lead plaintiff [4]. - The representation in the lawsuit is on a contingency fee basis, meaning shareholders incur no fees or expenses [5].
LAZR Investor Notice: Robbins LLP Reminds Stockholders of the Class Action Lawsuit Against Luminar Technologies, Inc.
GlobeNewswire News Room· 2025-07-28 12:00
The Allegations: Robbins LLP is Investigating Allegations that Luminar Technologies, Inc. (LAZR) Failed to Disclose that its President and CEO was Engaged in Misconduct According to the complaint, during the class period defendants failed to disclose that: (1) defendant Russell was engaged in undisclosed conduct that would make him the subject of an inquiry by the Audit Committee of the Board of Directors; (2) this conduct created material risk that defendant Russell would be released from his positions at ...
ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Luminar Technologies, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - LAZR
GlobeNewswire News Room· 2025-07-26 14:58
Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Luminar Technologies, Inc. securities during the specified Class Period, highlighting potential misconduct by the company's leadership that may have adversely affected investors [1][5]. Group 1: Lawsuit Details - The class action lawsuit is filed for securities purchased between March 20, 2025, and May 14, 2025, inclusive [1]. - Investors who purchased Luminar securities during this period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A lead plaintiff must move the Court by September 22, 2025, to represent other class members in the litigation [3]. Group 2: Allegations Against Luminar - The lawsuit alleges that Luminar's President, CEO, and Chairman, Austin Russell, engaged in undisclosed conduct that led to an inquiry by the Audit Committee [5]. - This conduct posed a material risk of Russell being removed from his positions, which could adversely affect Luminar's business operations and competitive standing [5]. - The lawsuit claims that Luminar lacked a reasonable basis for its financial guidance due to these undisclosed risks, leading to materially false and misleading public statements [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements, recovering hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its effectiveness in representing investor rights [4].
LAZR Investors Have Opportunity to Lead Luminar Technologies, Inc. Securities Fraud Lawsuit
Prnewswire· 2025-07-25 23:13
NEW YORK, July 25, 2025 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Luminar Technologies, Inc. (NASDAQ: LAZR) between March 20, 2025 and May 14, 2025, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 22, 2025.So What: If you purchased Luminar securities during the Cla ...
Luminar Technologies, Inc. Investors: Company Investigated by the Portnoy Law Firm
GlobeNewswire News Room· 2025-07-25 21:08
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, July 25, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Luminar Technologies, Inc. (“Luminar” or “the Company”) (NASDAQ: LAZR) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Luminar investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact ...