Luminar Technologies, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 04:04 pm
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Luminar Technologies, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 22.11 million compared to USD 11.13 million a year ago. Net loss was USD 148.4 million compared to USD 144.82 million a year ago. Basic loss per share from continuing operations was USD 0.36 compared to USD 0.4 a year ago.
For the full year, revenue was USD 69.78 million compared to USD 40.7 million a year ago. Net loss was USD 571.27 million compared to USD 445.94 million a year ago. Basic loss per share from continuing operations was USD 1.47 compared to USD 1.25 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.