Today, Luminar updated its annual business milestone targets and financial guidance for the full year of 2023. Major 2023 Milestone Targets and Financial Guidance: Net cash used in operating activities was higher and Free Cash Flow was lower sequentially from Q3 primarily due to operating loss from industrialization & software investments. Free Cash Flow (operating cash flow less capital expenditures) was $(79.5) million in Q4 and $(226.3) million for the full year. Net cash used in operating activities was $(74.7) million in Q4 and $(208.2) million for the full year. Cash, Cash Equivalents and Marketable Securities: Cash position, including marketable securities, of $488.9 million as of December 31, 2022, compared to $792.1 million as of December 31, 2021.For the full year, GAAP net loss was $445.9 million, or $(1.25) per share Non-GAAP net loss was $279.3 million, or $(0.78) per share. GAAP and Non-GAAP net loss: Q4 GAAP net loss was $144.8 million, or $(0.40) per share Q4 Non-GAAP net loss was $94.9 million, or $(0.26) per share, slightly higher than expectations as we invested in industrialization and ongoing software development.Both are at the lower end of guidance range primarily due to timing of program and service revenue recognition. Revenue: Q4 revenue of $11.1 million and full-year revenue of $40.7 million.Key financial highlights for the fourth-quarter and full-year ended December 31, 2022: A replay of Luminar Day presentations is available at Key Q4 & Full-Year 2022 Financials: Today, the company also hosted Luminar Day at its headquarters, where it announced several new commercial agreements, revealed its new Iris+ sensor and reported positive industrialization progress, ahead of prior guidance, to meet the strong, forecasted customer demand. Existing customers are expanding their business with us, our dialogue with new customers is increasing, and the team is doing a great job executing our industrialization and scaling plans to support upcoming vehicle launches.” “This year is already off to a strong start. The company is also providing insight into its long-term forecast and guidance, which is being webcast live at “In 2022, we achieved or exceeded all four key company-level milestones including: achieving the start of production with Iris, advancing our software, and exceeding our previously raised sixty percent year-over-year growth targets for both major commercial wins and our forward-looking order book,” said Tom Fennimore, CFO of Luminar. Luminar (NASDAQ: LAZR), a leading global automotive technology company, announced at Luminar Day its quarterly business update and financial results for the fourth quarter and full year of 2022, ended December 31, 2022. Providing Guidance for Near-term and Long-term Profitability Įxponential Revenue Acceleration Anticipated with Triple-Digit Percentage Growth for Coming Years
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