Luminar Technologies Shares Rally After Strong Q4 Report: Details
Luminar Technologies Inc. (NASDAQ:LAZR) released its fourth-quarter results after Thursday's closing bell. Here's a look at the details from the report.
The Details: Luminar Technologies reported quarterly losses of $1.26 per share. Quarterly revenue came in at $22.48 million, which beat the analyst consensus estimate of $17.72 million and is an increase over revenue of $22.11 million from the prior year’s quarter.
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“This past year represents a culmination of a decade’s worth of work with the launch of the Volvo EX90 — the first global production vehicle with leading technologies like Luminar and NVIDIA,” said Austin Russell, CEO of Luminar.
“We delivered a strong finish to 2024, achieving our key business milestones and outperforming our financial expectations in Q4,” Russell added.
Earlier this week, Luminar shares soared after YouTuber Mark Rober tested Tesla’s Autopilot system against Luminar’s lidar technology. The stock has pulled back a bit, but remains up 30% over the past five days.
LAZR Price Action: According to data from Benzinga Pro, Luminar Technologies shares are up 12.58% after-hours at $7.07 on Thursday.
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