Luminar to Announce Quarterly Business Update

Rhea-AI Summary

Luminar (NASDAQ: LAZR) announces its first-quarter 2023 financial results will be released after the market closes on May 9, 2023. CEO Austin Russell expressed strong confidence in the company’s milestones and revenue opportunities supported by solid contracts. He emphasized an intensive focus on execution in 2023, including launching a high-volume factory and advancing technology. The earnings call will include a live Q&A session starting at 2:00 p.m. PDT (5:00 p.m. EDT). Shareholders can submit questions for the call starting on May 1 through a dedicated platform.

Positive

• Strong outlook with a projected growth opportunity exceeding $1 billion.
• Execution focus on high-volume factory and advancement of technology.
• Contracts established with major automotive OEMs supporting revenue growth.

Negative

• None.

Reiterates Strong Outlook Provided at Luminar Day

ORLANDO, Fla.--(BUSINESS WIRE)-- Luminar (Nasdaq: LAZR), a leading global automotive technology company, today announced it will provide its quarterly business update and report financials for the first quarter of 2023 following the close of the market on Tuesday, May 9, 2023.

“We have more conviction than ever in our milestones, strong outlook and planned revenue opportunity per vehicle, which is not just theoretical but supported by our contracts that span the decade. We will outline this in further detail at our upcoming earnings call,” said Austin Russell, Founder and CEO of Luminar. “2023 is a year of intensive focus on execution, including bringing the high volume factory online with our partners, advancing our technology with Iris+, software and beyond, and growing our forward-looking order book by at least one billion dollars."

Russell and CFO Tom Fennimore will host a video webcast that day at 2:00 p.m. PDT (5:00 p.m. EDT) to discuss business and financial results followed by a live Q&A session.

Starting on Monday, May 1 at 1:00 p.m. PDT / 4:00 p.m. EDT, verified shareholders can submit and upvote questions by visiting: https://app.saytechnologies.com/luminar-2023-q1. This Q&A platform will remain open until 1:00 p.m. ET on Monday, May 8. A selection of submitted questions will be answered during the earnings call.

• What: webcast featuring first-quarter 2023 financials, business update and live Q&A
• Date: Tuesday, May 9, 2023
• Time: 2:00 p.m. PDT (5:00 p.m. EDT)
• Location: The webcast will be available live on Luminar’s Investor site at https://www.luminartech.com/quarterlyreview. A replay of the webcast will be available following the presentation.

For additional information or to be added to our investor distribution list, please visit us at https://investors.luminartech.com/ir-resources/email-alerts.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “aims,” “believe,” “may,” “will,” “estimate,” “set,” “continue,” “towards,” “anticipate,” “intend,” “expect,” “should,” “would,” “forward,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the likelihood of reaching high-volume production, developing and launching new hardware and software, and achieving new commercial deals. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Luminar’s management and are not guarantees of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including the risks discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Luminar’s most recently filed periodic reports on Form 10-K and Form 10-Q, and other documents Luminar files with the SEC in the future. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Luminar undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

About Luminar:

Luminar is a global automotive technology company ushering in a new era of vehicle safety and autonomy. For the past decade, Luminar has built an advanced hardware and software platform to enable its more than 50 industry partners, including the majority of global automotive OEMs. From Volvo Cars and Mercedes-Benz for consumer vehicles and Daimler Trucks for commercial trucks, to tech partners NVIDIA and Intel’s Mobileye, Luminar is poised to be the first automotive technology company to enable next-generation safety and autonomous capabilities for production vehicles. For more information please visit www.luminartech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005478/en/

Media Relations:

Press@luminartech.com

Investor Relations:

Investors@luminartech.com

Source: Luminar

FAQ

When will Luminar report its financial results for Q1 2023?

Luminar will report its Q1 2023 financial results on May 9, 2023.

What time is Luminar's earnings call scheduled?

The earnings call is scheduled for 2:00 p.m. PDT (5:00 p.m. EDT) on May 9, 2023.

How can shareholders submit questions for Luminar's earnings call?

Shareholders can submit questions starting May 1, 2023, by visiting a dedicated platform.

What does Luminar's strong outlook entail?

Luminar's strong outlook includes a revenue opportunity exceeding $1 billion supported by long-term contracts.

Who will host the Luminar earnings call?

The earnings call will be hosted by CEO Austin Russell and CFO Tom Fennimore.