![]() 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. Why It’s Important: Luminar shared company updates and new commercial wins at CES 2023. Related Link: Why This Short Seller Is Doubling Down Against Cryptocurrency, Says 'US Government Should Be Embarrassed' About FTX Debacle The very next day, on July 2nd, he closed on an $83 million Los Angeles estate.” “He wants investors to be patient for the ‘back half of the decade’ yet according to the LA Times, Russell’s $220 million stock sale closed on July 1, 2021. Left also highlighted the wealth of Russell, one of the youngest billionaires in 2022 according to Forbes. 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. Furthermore, the company has better financials, forward growth rates, and options market sentiment.Citron asked if this quote brings confidence to investors.īenzinga reached out to Andrew Left for comment on the tweets. LAZR's partnership with Mercedes-Benz could potentially bring a lot of long-term benefits, thus improving its operating metrics. I believe LAZR is currently a better investment than VLDR. When it comes to VLDR, the open calls/open puts ratio at the $5.00 strike price is 1.26x, indicating a relatively weaker bullish options market sentiment. In LAZR's case, the open calls/open puts ratio at the $15.00 strike price comes in at 1.48x, implying a bullish options market sentiment. ![]() Looking at the March 18th, 2022 option chain for both LAZR and VLDR, we can determine options market sentiment by analyzing the calls/puts ratio. Furthermore, analysts forecast that its 4Q2021 revenue will remain flat YoY at $17.84 million. So, its liquidity position remained strong, considering a nine-month cash burn rate of $90.24 million.įor the next quarter, analysts expect VLDR's bottom line to decelerate 45.47% YoY, standing at ($0.17) per share. Velodyne ended the quarter with cash, cash equivalents, and short-term investments of $324.5 million. The company delivered 4,400 LiDAR sensors during the third quarter. Its Non-GAAP EPS stood at ($0.19), missing estimates by $0.04. Not unexpectedly, the company missed the revenue consensus by $7.7 million. This decrease was due to the absence of a non-recurring stocking fee and a lower average selling price in Q3. In the third quarter of 2021, Velodyne Lidar's revenue decreased 59.3% on a year-over-year basis, coming in at $13.06 million. ![]() Moreover, its revenues should lift 384.35% to $11.78 million in the current quarter. Besides, LAZR maintained its FY2021 guidance, planning to recognize revenue in the range between $30 and $33 million.įor the fourth quarter, Wall Street expects Luminar's EPS to grow 5.85% year-over-year to ($0.11). However, LAZR slightly missed Wall Street estimates by $0.92 million.Īlthough Luminar's net loss grew 64% year-over-year to $51.34 million, its Non-GAAP EPS was ($0.10), in line with analysts' consensus. In Q3, the company's revenue increased by 89.1% year-over-year to $7.98 million, driven by increased sales from its Autonomy Solutions segment. Luminar Technologies last issued its earnings report on Thursday, November 11th. ![]()
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