Luminar sees achieving quarterly revenue run rate mid-$30M range for 2024

Luminar said, “We expect to achieve a quarterly run rate of revenue in the mid-$30M range following our expected SOP and ramp with Volvo in 2H’24. This would equate o an annualized run rate of ~$140M in revenue. We expect to end the year with greater than$150M in Cash & Liquidity, including our recently obtained credit line. We believe our liquidity profile is sufficient to provide at least two years of runway from today. As we prioritize optimizing our Mexico facility and de-risking the start of series production for Volvo, we expect most of our pre-launch financial metrics in Q1’24 to be roughly similar to Q4’23: In line to slightly lower revenue; some improvement to our Non-GAAP gross loss; higher change in cash & liquidity as we build working capital to support Volvo SOP.”