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Luminar stock10/13/2023 ![]() ![]() ![]() “We expect our revenue to continue to grow exponentially both in 2023 and throughout the decade,” a Luminar spokesperson told Benzinga. Luminar will report its fiscal year 2022 revenue and provide guidance for fiscal 2023 at Luminar Day on Feb. “The commercial success exceeded Luminar’s goal of 60 percent year-over-year growth in total program wins and exceeded its target of 60 percent year-over-year forward-looking orderbook growth,” the company said. The company said it saw multiple wins in the fourth quarter from automotive OEMs with more cars adding Luminar technology in 2025. “Our big bet on production consumer vehicles and enhancing, nor replacing, the driver is starting to pay off big time.” “2022 marked an inflection point for Luminar, as the first of its kind to move from R&D to production vehicles,” Russell said. Velodyne Lidar VLDR has a market capitalization of $181 million. Innoviz has a market capitalization of $539 million. Luminar’s market capitalization is $1.6 billion at the time of writing. You know what I am saying! I am long Innoviz and short Luminar.” “Look at Luminar’s market cap and compare it to Innoviz’s and Velodyne’s market caps. “No, Google has the best mapping system,” Left said, explaining Citron Research is short shares of Luminar and is long shares of Innoviz Technologies INVZ, a competing lidar company. Left also criticized comments about Luminar’s mapping technology at CES, which he interpreted as claiming the company’s maps are the best in the world. Russell used “jargon and double-speak” while Luminar presented and shared company updates at CES 2023, Left said, adding, “People want to hear about revenues now, not bulls***.” Austin will not see any meaningful revenue in the near future,” Left told Benzinga. “Austin Russell wants investors to be patient for the ‘back half of the decade.’ What? Are you kidding me. Citron asked if this quote brings confidence to investors.īenzinga reached out to Andrew Left for comment on the tweets.
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