LAZR Stock Overview
Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East.
Luminar Technologies Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$11.01|
|52 Week High||US$23.90|
|52 Week Low||US$5.61|
|1 Month Change||82.59%|
|3 Month Change||11.21%|
|1 Year Change||-31.74%|
|3 Year Change||9.01%|
|5 Year Change||n/a|
|Change since IPO||12.35%|
Recent News & Updates
Luminar Technologies: Time To Get Serious About Backlog
Luminar reported a solid Q2 with revenues reaching $10 million. Most importantly, the Lidar sensor company hiked the forward-order book growth rate by 60% for a year-end total of $2.73 billion. The stock is a buy trading at a fraction of '23 order book estimates. The case for Luminar Technologies (LAZR) and other Lidar sensor companies is becoming very clear. These stocks should trade more on the surging order books while investors should focus far less on current revenues. My investment thesis is more Bullish on Luminar as the order book surges and the company hints at needing production volumes next year. Surging Order Book Due to some questionable financials presented during SPAC mergers, the market wrongly questions the current backlog numbers of the Lidar sector. Most of the companies don't appear on a path to hit original grand revenue targets, but this doesn't mean that the current order book is flawed, or that Luminar will miss impressive current projections. Along with the Q2'22 earnings report, Luminar forecast the forward-looking order book was now set to grow 60% this year, up from prior expectations of 40% YoY growth. Also, the company reported revenues reached $10 million in the quarter and 2022 revenue guidance was hiked to $40- $45 million from just $40 million. Luminar ended last year with an order book of $2.1 billion, suggesting a surge of $0.63 billion in new orders this year alone. One should value the stock based on the $630 million increase in the order book, not the $40+ million in reported revenue this year. Luminar Tech. Q2'22 Presentation This number is far more important than the Q3'22 guidance for revenue in the $8 to $10 million range. The macro-environment and volatile nature of pre-production orders aren't where investors should focus. As expected, Luminar is burning some $56.5 million in cash per quarter, but the company has a large cash balance to fund the business until auto OEMs launch production use of their Lidar sensors. Luminar ended June with a cash balance of $605 million. Management continues to promote strong auto demand from simply improving safety and the driver experience, with no need to leap forward to driverless cars in order to implement their technology. The company forecasts a new manufacturing facility with Calvary Robotics that will provide a dedicated high-volume facility capable of producing 250,000 units by 2H23. On the Q2'22 earnings call, CEO Austin Russell made some implications that increased demand was pushing this move to quickly ramp up automated production: And I think it's fair to say that this is not a huge surprise totally out of nowhere that the customers are going to want increased volume from this. They've been talking in theory about it for quite some time, but we're seeing more and more of it materialize at the table. That's why we're pulling the trigger to really accelerate this and get that dedicated facility with this. Hitting Bottom The stock finally appears to have reached a bottom following the relentless selling all year. Luminar Technologies originally topped $40 towards the end of 2020 on the hype surrounding the demand for Lidar sensors via self-driving vehicles. As mentioned above, the company is now on pace for 60% order book growth this year, yet the stock is down substantially during this period. The investment story has less risk here, a couple of years closer to production launch while the order book constantly expands.
|LAZR||US Auto Components||US Market|
Return vs Industry: LAZR underperformed the US Auto Components industry which returned -23% over the past year.
Return vs Market: LAZR underperformed the US Market which returned -9.6% over the past year.
|LAZR Average Weekly Movement||13.1%|
|Auto Components Industry Average Movement||8.0%|
|Market Average Movement||7.6%|
|10% most volatile stocks in US Market||16.8%|
|10% least volatile stocks in US Market||3.1%|
Stable Share Price: LAZR is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 13% a week.
Volatility Over Time: LAZR's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
Luminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries.
Luminar Technologies Fundamentals Summary
|LAZR fundamental statistics|
Is LAZR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|LAZR income statement (TTM)|
|Cost of Revenue||US$75.35m|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||-0.86|
|Net Profit Margin||-832.16%|
How did LAZR perform over the long term?See historical performance and comparison
Is LAZR undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 2/6
Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for LAZR?
Other financial metrics that can be useful for relative valuation.
|What is LAZR's n/a Ratio?|
Price to Book Ratio vs Peers
How does LAZR's PB Ratio compare to its peers?
|LAZR PB Ratio vs Peers|
|Company||PB||Estimated Growth||Market Cap|
LCII LCI Industries
FOXF Fox Factory Holding
LAZR Luminar Technologies
Price-To-Book vs Peers: LAZR is expensive based on its Price-To-Book Ratio (44.7x) compared to the peer average (3.9x).
Price to Earnings Ratio vs Industry
How does LAZR's PE Ratio compare vs other companies in the US Auto Components Industry?
Price-To-Book vs Industry: LAZR is expensive based on its Price-To-Book Ratio (44.7x) compared to the US Auto Components industry average (2x)
Price to Book Ratio vs Fair Ratio
What is LAZR's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PB Ratio||44.7x|
|Fair PB Ratio||n/a|
Price-To-Book vs Fair Ratio: Insufficient data to calculate LAZR's Price-To-Book Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of LAZR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: LAZR ($11.01) is trading below our estimate of fair value ($44.3)
Significantly Below Fair Value: LAZR is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.
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How is Luminar Technologies forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
Future Growth Score2/6
Future Growth Score 2/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LAZR is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: LAZR is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: LAZR is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: LAZR's revenue (58.7% per year) is forecast to grow faster than the US market (7.9% per year).
High Growth Revenue: LAZR's revenue (58.7% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if LAZR's Return on Equity is forecast to be high in 3 years time
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How has Luminar Technologies performed over the past 5 years?
Past Performance Score0/6
Past Performance Score 0/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LAZR is currently unprofitable.
Growing Profit Margin: LAZR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: LAZR is unprofitable, and losses have increased over the past 5 years at a rate of 40% per year.
Accelerating Growth: Unable to compare LAZR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: LAZR is unprofitable, making it difficult to compare its past year earnings growth to the Auto Components industry (-6.3%).
Return on Equity
High ROE: LAZR has a negative Return on Equity (-348.69%), as it is currently unprofitable.
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How is Luminar Technologies's financial position?
Financial Health Score4/6
Financial Health Score 4/6
Short Term Liabilities
Long Term Liabilities
Stable Cash Runway
Forecast Cash Runway
Financial Position Analysis
Short Term Liabilities: LAZR's short term assets ($671.1M) exceed its short term liabilities ($57.8M).
Long Term Liabilities: LAZR's short term assets ($671.1M) exceed its long term liabilities ($629.2M).
Debt to Equity History and Analysis
Debt Level: LAZR's net debt to equity ratio (6%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if LAZR's debt to equity ratio has reduced over the past 5 years.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: LAZR has sufficient cash runway for more than 3 years based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if LAZR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
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What is Luminar Technologies's current dividend yield, its reliability and sustainability?
Dividend Score 0/6
Cash Flow Coverage
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate LAZR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate LAZR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if LAZR's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if LAZR's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as LAZR has not reported any payouts.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Austin Russell (26 yo)
Mr. Austin Russell has served as President and Chief Executive Officer and as Chairperson and member of board of directors of Luminar Technologies, Inc. since December 2020 and prior to this, served as Pre...
CEO Compensation Analysis
Compensation vs Market: Austin's total compensation ($USD1.00) is below average for companies of similar size in the US market ($USD6.57M).
Compensation vs Earnings: Austin's compensation has been consistent with company performance over the past year.
Experienced Management: LAZR's management team is not considered experienced ( 1 years average tenure), which suggests a new team.
Experienced Board: LAZR's board of directors are not considered experienced ( 1.5 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: LAZR insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Luminar Technologies, Inc.'s employee growth, exchange listings and data sources
- Name: Luminar Technologies, Inc.
- Ticker: LAZR
- Exchange: NasdaqGS
- Founded: 2012
- Industry: Auto Parts and Equipment
- Sector: Automobiles
- Implied Market Cap: US$3.958b
- Shares outstanding: 359.51m
- Website: https://www.luminartech.com
Number of Employees
- Luminar Technologies, Inc.
- 2603 Discovery Drive
- Suite 100
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/08/16 00:00|
|End of Day Share Price||2022/08/16 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.