Luminar Technologies' shares slide on missed Q2 results, lowered FY25 outlook

[3D render of 2 smart vehicles in an Urban scene with pedestrians]
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Shares of Luminar Technologies (NASDAQ:LAZR [https://seekingalpha.com/symbol/LAZR]) have fallen by as much as 18% in Tuesday’s after-hours trading after the company reported disappointing results for the second quarter [https://seekingalpha.com/news/4484130-luminar-technologies-non-gaap-eps-of-1_49-misses-by-0_31-revenue-of-15_63m-misses-by-1_64m] and lowered FY25 guidance due to vehicle production expectations in the second half of the year, and to reflect the winding down of non-core businesses.

The company now expects revenue for the year to be between $67M and $74M from the prior range of $82M to $90M, and less than the consensus estimate of $86.3M.

Gross loss for the year remains unchanged at $(5M) to $(10M), though likely towards the higher end of the range due to the wind-down of high-margin data contract.

For the third quarter, Luminar (NASDAQ:LAZR [https://seekingalpha.com/symbol/LAZR]) expects revenue in the range of $17M to $19M, which is also less than the $22.3M estimate.

Regarding the disappointing performance last quarter and downbeat outlook, CEO Paul Ricci offered assurances that the company is taking measures to streamline the business by exiting non-core areas, and focus on operational milestones.

“We believe these actions set the stage for a stronger, leaner Luminar better positioned to deliver sustainable growth and long-term value.”

For the reported quarter, the sensor and software provider for passenger cars and commercial trucks reported an adjusted loss of $1.49 per share, narrowing from a loss of $2.68 per share a year ago but $0.31 wider than expected.

Total revenue fell 5% to $15.63M, $1.6M below estimates.

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* Luminar: Dilution Risk Outweighs Potential Upside For Now [https://seekingalpha.com/article/4796730-luminar-stock-dilution-risk-outweighs-potential-upside-now]
* Luminar: Sell As CEO Out, Dilution Soars [https://seekingalpha.com/article/4787582-luminar-sell-as-ceo-out-dilution-soars]
* Luminar Q1 2025 Earnings: Austin Russell's Exit Shakes Outlook [https://seekingalpha.com/article/4787043-luminar-q1-2025-earnings-austin-russell-exit-shakes-outlook]
* Luminar Technologies Non-GAAP EPS of -$1.49 misses by $0.31, revenue of $15.63M misses by $1.64M [https://seekingalpha.com/news/4484130-luminar-technologies-non-gaap-eps-of-1_49-misses-by-0_31-revenue-of-15_63m-misses-by-1_64m]
* Luminar Technologies Q2 2025 Earnings Preview [https://seekingalpha.com/news/4483282-luminar-technologies-q2-2025-earnings-preview]