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Luminar tech3/20/2023 ![]() ![]() Luminar ended June with a cash balance of $605 million. The macro-environment and volatile nature of pre-production orders aren't where investors should focus.Īs expected, Luminar is burning some $56.5 million in cash per quarter, but the company has a large cash balance to fund the business until auto OEMs launch production use of their Lidar sensors. This number is far more important than the Q3'22 guidance for revenue in the $8 to $10 million range. One should value the stock based on the $630 million increase in the order book, not the $40+ million in reported revenue this year. Luminar ended last year with an order book of $2.1 billion, suggesting a surge of $0.63 billion in new orders this year alone. Also, the company reported revenues reached $10 million in the quarter and 2022 revenue guidance was hiked to $40- $45 million from just $40 million. ![]() Most of the companies don't appear on a path to hit original grand revenue targets, but this doesn't mean that the current order book is flawed, or that Luminar will miss impressive current projections.Īlong with the Q2'22 earnings report, Luminar forecast the forward-looking order book was now set to grow 60% this year, up from prior expectations of 40% YoY growth. Surging Order Bookĭue to some questionable financials presented during SPAC mergers, the market wrongly questions the current backlog numbers of the Lidar sector. My investment thesis is more Bullish on Luminar as the order book surges and the company hints at needing production volumes next year. These stocks should trade more on the surging order books while investors should focus far less on current revenues. The case for Luminar Technologies ( NASDAQ: LAZR) and other Lidar sensor companies is becoming very clear. ![]()
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