The partnership offers automakers a complete experience with Luminar’s sensors and Nvidia’s software. The platform will use one long-range Luminar Iris lidar in its highway driving mode.
In other LAZR stock news, the company is being chosen by Nvidia (Nasdaq: NVDA) to power its Drive Hyperion AV platform. Still on track to reach its goal of +60% annual growth in its order book for the year.įurthermore, Luminar is strengthening its balance sheet with more cash ($544.9 million) and less cash spent ($37.5 million) than 2020.This quarter, two leading AV companies, Embark Trucks and Kodiak Robotics, chose to use Luminar’s tech. The company also hit its goal of six major commercial wins in 2021.
Luminar technologies ipo software#
The new software features emergency braking and assisted highway driving.
Luminar technologies ipo full#
Still, LAZR stock total revenue grew 89% year-over-year (YOY) to reach $8 million.Īt the same time, Luminar is still in its growth phase when financial results don’t always show the full picture. Q3 Earningsĭespite beating bottom-line results in Q3, Luminar slightly missed Wall St revenue targets. So far, the move is doing exactly as management hoped by regaining investor confidence. A few things the company can use the funds for. The company plans to use the funds to strengthen its balance sheet and, in turn, boost growth. Since announcing on December 14, directors bought 42,926 shares for a total of $656,129. “Given our current position and our trajectory, we think our stock price has not reflected the wins and successes we’ve had over the past year since our public debut…” He also went on to say, “Today, we’re putting our money where our mouth is by executing this significant purchase of shares as we accelerate our industry leadership.”Īs an investor, that’s what you like to see from leadership. Luminar CEO Austin Russell is leading the charge, saying: Also, several board members are planning to buy LAZR stock. The big news pushing LAZR stock higher is that the company plans to buy more stock. Keep reading to learn why Luminar is trending and what to expect next. Having said that, LAZR stock looks to finally be breaking out of its downtrend with solid momentum going into 2022. For this reason, investing in a supplier like Luminar might present a better long-term opportunity. Yet EV stocks are also taking a hit this year with competition creeping in.
The initial hype pushed share prices over 190% within a few months to reach ATH’s.Īt the same time, growth stocks are having a rough year, with 2020 leaders such as ARK Innovation ETF (NYSE: ARKK) down 25%.Įven more, the auto industry is moving swiftly as electric vehicles gain market share. With this in mind, LAZR stock went public over a year ago via SPAC. Luminar Technologies (Nasdaq: LAZR) is a leader in lidar autonomous driving. But share prices are spiking on company plans to increase buybacks to over $300 million. LAZR stock is down over 55% from its high of $40.98 per share earlier this year.
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