If you’re chasing outsized gains by searching for stocks to turn $1,000 into $1 million, it may be a good time to look at stocks trading at bargain-basement levels. These beaten-down companies could deliver significant returns once they finally recover. I’ve been watching many businesses where the fundamentals are improving, yet Wall Street has failed to reward them. However, analysts see major growth potential in these stocks, and with interest rate cuts potentially on the way, we could see an impressive p ...

Luminar Technologies, Inc. (LAZR) has been on a downward spiral lately with significant selling pressure. After declining 24.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting w ...

The price trend for Luminar Technologies, Inc. (LAZR) has been bearish lately and the stock has lost 8.8% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only fa ...

Luminar Technologies, Inc. (NASDAQ:LAZR) Q4 2023 Earnings Conference Call February 27, 2024 5:00 PM ET Company Participants Aileen Smith - Head of Investor Relations Austin Russell - Founder and Chief Executive Officer Tom Fenimore - Chief Financial Officer Conference Call Participants John Babcock - Bank of America Joshua Buchalter - TD Cowen Itay Michaeli - Citibank Kevin Cassidy - Rosenblatt Kevin Garrigan - WestPark Mark Delaney - Goldman Sachs Winnie Dong - Deutsche Bank Jaime Perez - RF Lafferty Ailee ...

Luminar Technologies, Inc. (LAZR) came out with a quarterly loss of $0.20 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.26%. A quarter ago, it was expected that this company would post a loss of $0.25 per share when it actually produced a loss of $0.21, delivering a surprise of 16%.Over the last four quarters, the company has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38791 LUMINAR TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 83-1804317 (State or other jurisdict ...

Financial Performance - Luminar achieved nearly $70 million in revenue for FY'23, representing a 71% year-over-year growth, with Q4'23 revenue growing almost 100% year-over-year and 30% quarter-over-quarter[35]. - Q4 2023 revenue reached $22.1 million, representing a 99% year-over-year increase and a 30% quarter-over-quarter increase, but fell short of the guidance of approximately $75 million due to lower adjacent market sensor sales and slower revenue recognition[45]. - Total revenue for Q4 2023 reached $22,114,000, a 99% increase compared to $11,126,000 in Q4 2022[57]. - Product revenue was $17,001,000, up 103% from $8,357,000 in the same quarter last year[57]. - The net loss for Q4 2023 was $(148.4) million, or $(0.36) per share, which was within the guidance range of $(0.17) to $(0.21) provided in the previous quarter[47]. - Net loss for the year ended December 31, 2023, was $(571,269,000), compared to $(445,939,000) for the previous year[59]. - Non-GAAP net loss for Q4 2023 was $(83,634,000), compared to $(94,878,000) in Q4 2022[63]. - Cash flows from operating activities resulted in a net cash used of $(247,304,000) for the year 2023[59]. Order Book and Future Revenue - The company has a multi-billion dollar Order Book, which is expected to begin converting into material revenue in 2024, particularly with the launch of the Volvo EX90[9][12]. - The updated Order Book stands at approximately $3.8 billion, an increase of $800 million from 2023 awards, but adjusted down by $400 million due to more conservative volume and take rate assumptions[51][52]. - The Order Book serves as a forward-looking cumulative billings estimate for Luminar's hardware and software products, reflecting anticipated adoption rates by OEMs[78]. - Luminar expects significant revenue growth in 2024 driven by series production sensor sales as it reaches Volvo's start of production in Q2'24[39]. - The company expects a quarterly run rate of revenue in the mid-$30 million range in 2H'24, equating to an annualized run rate of approximately $140 million[43]. Operational Efficiency and Costs - The company incurred approximately $11 million in additional costs in Q4'23, impacting financials due to the industrialization of Iris and Iris+[34]. - The company incurred approximately $11 million in fixed cost burden impact and yield losses during Q4 2023, contributing to higher industrialization costs[46]. - The company is prioritizing operational and financial efficiency in 2024, leveraging a $1 billion investment in technology and manufacturing to drive down costs[30]. - The company plans to industrialize its next-gen LiDAR technology and improve operational efficiency in 2024, marking a transformational year[42]. - The company expects launch costs to decline as products are successfully industrialized, which may positively impact future financial performance[69]. Cash and Liquidity - The company ended 2023 with nearly $290 million in cash and marketable securities, and with a recently executed $50 million credit facility, it has $340 million in cash and liquidity, sufficient for at least two years[37]. - Cash and liquidity at the end of Q4 2023 was $290 million, with a $31 million quarter-over-quarter change and a new $50 million credit facility obtained[45][49]. - The company expects to end FY'24 with over $150 million in cash and liquidity, providing at least two years of runway from the current date[43]. - Ending cash, cash equivalents, and restricted cash increased to $140,624,000 from $71,105,000 year-over-year[59]. Research and Development - The company is focusing on enhancing its LiDAR ecosystem, having launched the Luminar AI Engine and produced six new types of chips to improve performance and reduce costs[23][24]. - Various software capabilities are still in development and have not yet achieved 'technological feasibility' or 'production ready' status, indicating ongoing R&D efforts[70]. - The company is focused on achieving key milestones for FY 2024, including manufacturing scale-up and next-gen LIDAR prototype development[72]. - Research and development expenses were $62,745,000 for Q4 2023, slightly down from $64,925,000 in Q4 2022[57]. - Research and development expenses for Q4 2023 were $14.942 million, up from $12.886 million in Q3 2023, and $13.756 million in Q4 2022[66]. Partnerships and Product Development - Luminar's partnerships with automakers like Mercedes-Benz and Polestar have expanded, with new vehicle models being integrated into their next-generation lineups[19][21]. - Luminar's Iris sensor has passed Volvo Cars' initial production audit, and the company has begun delivering products to customers from its high-volume manufacturing facility in Mexico[15][16]. - The company aims to achieve global start of production (SOP) and ramp with Volvo in 2H'24, alongside launching a new TPK facility for additional capacity[44]. - Luminar plans to showcase next-generation LiDAR technology at the upcoming Luminar Day, highlighting improvements in performance, safety, and cost[27]. Financial Metrics - The gross loss for Q4 2023 was $(21.6) million on a GAAP basis, which was below the target for a positive non-GAAP gross margin[46]. - Gross loss for Q4 2023 was $(21,571,000), compared to $(16,600,000) in Q4 2022, reflecting a decline in gross margin[61]. - Operating expenses totaled $127,021,000 in Q4 2023, an increase from $124,077,000 in Q4 2022[62]. - The total cost of sales for the twelve months ended December 31, 2023, was $207.132 million, compared to $162.405 million for the same period in 2022, reflecting a year-over-year increase of 27.5%[66]. - The company incurred $4.323 million in intangible amortization for the twelve months ended December 31, 2023, compared to $2.237 million in 2022, indicating a significant increase[66]. - Total stock-based compensation for Q4 2023 was $47.101 million, an increase from $44.882 million in Q3 2023, and $44.531 million in Q4 2022[66].

ORLANDO, Fla.--(BUSINESS WIRE)--Luminar (Nasdaq: LAZR), a leading global automotive technology company, announced today it will host a Luminar Day event on April 23, 2024 for its broader community, including customers, investors, suppliers, regulators, and media. The event will be held virtually, spanning from the factory in Monterrey, Mexico to its AI and software center in Silicon Valley. In this pivotal moment for the industry, the Luminar Day event will cover Luminar’s Start of Production (SOP) for Vol ...

CreativaImages/iStock via Getty Images Luminar Technologies (NASDAQ:LAZR) is trading at the all-time lows, but the company recently highlighted a strong lineup at CES 2024. The Lidar company has several large contracts in place with large auto manufacturers, set to ramp in 2024. My investment thesis is ultra Bullish on the stock, with investors abandoning ship while the prospects are the most positive. Source: Finviz Focus On Big CES While the Volvo delay of the EX90 launch has caused some short-term ...

After a brutal couple of years, signs are emerging that high-growth small-cap growth stocks may finally get their chance to rally. While mega-cap tech and blue chips soaked up most of the spotlight during the recent rally, many promising yet unprofitable startups were left behind. However, with rates appearing likely to fall and economic storm clouds parting, these long-term innovators could thrive once more.Though not suited for all investors, adding a small percentage of one’s portfolio to a few visionary ...