NEW YORK, July 25, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Luminar Technologies, Inc. (“Luminar” or “the Company”) (NASDAQ: LAZR) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired L ...

Group 1 - A securities class action lawsuit has been filed against Luminar Technologies, Inc. for alleged misleading statements and undisclosed conduct by a key executive [1][2] - The lawsuit claims that the conduct of Defendant Russell posed a material risk to Luminar's business operations, including competition, R&D management, and customer relationships [2] - The complaint asserts that Luminar lacked a reasonable basis for its financial guidance due to the risks associated with Russell's potential departure [2] Group 2 - Investors who acquired Luminar shares during the specified class period are encouraged to contact the law firm for representation in the class action [3] - The lead plaintiff motion deadline is set for September 22, 2025, indicating a timeline for potential participants in the lawsuit [3]

Group 1 - The Schall Law Firm has initiated a class action lawsuit against Luminar Technologies, Inc. for violations of the Securities Exchange Act of 1934 [1] - The class period for the lawsuit is defined as between March 20, 2025, and May 14, 2025 [2] - Investors who suffered losses during the class period are encouraged to contact the Schall Law Firm before September 22, 2025 [2] Group 2 - The complaint alleges that Luminar made false and misleading statements, particularly involving CEO Austin Russell, which led to an investigation by the Board of Directors' Audit Committee [4] - The potential removal of CEO Austin Russell poses risks to Luminar's business practices, customer retention, and overall brand reputation [4] - The public statements made by Luminar were deemed false and materially misleading, resulting in investor damages once the truth was revealed [4]

Luminar Technologies, Inc. (LAZR) ended the recent trading session at $3.39, demonstrating a -10.32% change from the preceding day's closing price. This change lagged the S&P 500's 0.07% gain on the day. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.18%. Shares of the company have appreciated by 40.52% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 2.96%, and the S&P 500's gain of 5.71%.The investment communit ...

Core Viewpoint - A class action lawsuit has been filed against Luminar Technologies, Inc. for alleged securities fraud, claiming that the company failed to disclose material adverse facts regarding its operations and compliance, particularly concerning CEO Austin Russell's undisclosed conduct [1][5]. Company Overview - Luminar Technologies specializes in advanced LiDAR hardware and software solutions for vehicles [4]. - The company issued its quarterly business update and financial results for Q4 2024 and the full year 2024 on March 20, 2025, and reiterated its guidance for the full year 2025 in its Q1 2025 update on May 14, 2025 [4]. Legal Proceedings - The class action lawsuit, Yskollari v. Luminar Technologies, Inc., was initiated in the United States District Court for the Middle District of Florida [1]. - Investors who purchased Luminar securities between March 20, 2025, and May 14, 2025, are eligible to participate in the lawsuit [1][7]. Allegations - The complaint alleges that Luminar's executives made false or misleading statements and failed to disclose significant risks related to CEO Austin Russell's conduct, which could jeopardize his position and the company's business [5]. - The lawsuit claims that the lack of transparency regarding Russell's situation undermined the company's financial guidance and misled investors [5]. Market Reaction - Following the announcement of Russell's resignation on May 14, 2025, Luminar's stock price dropped by $0.80, or 16.80%, closing at $3.96 per share on May 15, 2025 [6].

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Industry Overview - Global electric vehicle (EV) sales are projected to reach nearly 22 million in 2025, marking a 25% increase from the previous year, with one in four cars sold being fully electric or plug-in hybrids [2] - China is expected to account for nearly two-thirds of all EV sales, while Europe and the United States are increasing their offerings of affordable models as battery prices decline [2][3] - The autonomous vehicle (AV) market is anticipated to grow from approximately $36 billion in 2025 to over $83 billion by 2035, reflecting an 8.7% compound annual growth rate (CAGR) [4] Company Insights: Luminar Technologies - Luminar Technologies focuses on LiDAR technology, transitioning from its older Iris system to a new unified platform called Halo, which promises faster deployment and lower costs [7][10] - The company has secured partnerships with several original equipment manufacturers (OEMs) for testing Halo prototypes, with a full launch expected by late 2026 or early 2027 [8][10] - Luminar's LiDAR technology is already featured in Volvo vehicles and is expanding into industrial markets through a partnership with Caterpillar [9][10] Company Insights: Li Auto - Li Auto has gained traction in China's EV market with its extended-range electric vehicles (EREVs), selling over 200,000 units of each L-series model [12][13] - The company is expanding into pure battery electric vehicles (BEVs) and plans to increase its retail presence and supercharging stations significantly by the end of 2025 [14] - Li Auto is advancing in autonomous driving technology, utilizing NVIDIA chips and training AI models on extensive video data [15][16] Company Insights: Rivian Automotive - Rivian is set to launch a more affordable electric SUV, the R2, priced around $45,000, which aims to broaden its market reach [17] - The company achieved a positive gross margin in Q1 2025, unlocking a $1 billion investment from Volkswagen, which plans to invest up to $5.8 billion by 2027 [18] - Rivian is enhancing its operational efficiency through engineering improvements and supply chain fixes, while expanding its production capacity with new facilities [20][21]

Company Performance - Luminar Technologies, Inc. closed at $3.27, reflecting a -5.49% change from the previous session, which is less than the S&P 500's daily loss of 0.27% [1] - The company's shares have decreased by 23.62% over the past month, underperforming the Auto-Tires-Trucks sector, which gained 5.86%, and the S&P 500, which gained 6.9% [1] Earnings Projections - For the upcoming earnings disclosure, Luminar is projected to report earnings of -$1.19 per share, indicating a year-over-year growth of 55.93% [2] - The consensus estimate for revenue is $16.72 million, representing a 1.64% increase from the prior-year quarter [2] Full Year Estimates - For the full year, Zacks Consensus Estimates project earnings of -$4.29 per share and revenue of $86.64 million, reflecting changes of +53.57% and +14.91% respectively from the prior year [3] - Recent revisions in analyst estimates are important as they often indicate near-term business trends, with positive revisions suggesting optimism about the business outlook [3] Zacks Rank and Industry Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with stocks rated 1 producing an average annual return of +25% since 1988 [5] - Luminar Technologies currently holds a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate having increased by 21.36% in the past month [5] Industry Context - The Automotive - Original Equipment industry, part of the Auto-Tires-Trucks sector, has a Zacks Industry Rank of 131, placing it in the bottom 47% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]

Core Viewpoint - Luminar Technologies, Inc. (LAZR) has shown a downtrend recently, with a 7.8% loss over the past week, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, suggesting that selling pressure may be subsiding [2][5]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that despite a downtrend, buyers are starting to push the price up towards the opening price [4][5]. - The occurrence of a hammer pattern at the bottom of a downtrend signals that bears may be losing control, indicating a potential trend reversal [5]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for LAZR, which is a bullish indicator [7]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 21.4%, indicating that analysts expect better earnings than previously predicted [8]. - LAZR holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9].

Business Highlights - Luminar's Order Book consists of $3.4 billion in contracts with automakers, with expectations to add up to another $1 billion this year[5] - Luminar successfully passed the Run at Rate production audit for Volvo Cars, a milestone for the upcoming Volvo EX90 launch, with a capacity of up to 250k units a year[7, 17] - Gatik partnered with Luminar, making Luminar the exclusive LiDAR provider for Gatik's next-generation autonomous trucks[24, 25] Financial Performance - Q3 revenue was $17.0 million, a 33% year-over-year increase, but below the guidance range of $18 million-$21 million[34, 35] - Q3 non-GAAP gross loss was $(9.1) million, including $17 million of launch-related expenses, an improvement from Q2[36] - Q3 GAAP net loss was $(134.3) million, or EPS of $(0.34), and non-GAAP net loss was $(84.1) million, or EPS of $(0.21)[37] - Q3 Free cash flow was $(60.8) million, showing improvement from Q2[38] - Luminar ended Q3 with $321.0 million in cash and liquidity[34, 39] Guidance - The company expects 2023 revenue to be around $75 million, representing approximately 85% year-over-year growth[40] - Luminar anticipates Q4 Free cash flow to be in the range of $(35) million to $(40) million[15, 43]