Luminar Expects 2023 Revenue Of Around $75M, Or Roughly 85% Y/Y Growth (Prior View At Least 100% Revenue Growth)
Portfolio Pulse from Benzinga Newsdesk
Luminar Technologies Inc. has revised its 2023 revenue forecast to around $75 million, which represents approximately 85% year-on-year growth. This is a decrease from the company's previous forecast of at least 100% revenue growth. The company also expects to reach gross margin positive on a non-GAAP basis in Q4 2023.
November 08, 2023 | 9:59 pm
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Luminar's revised 2023 revenue forecast could potentially impact investor sentiment and the company's stock price. The lower growth forecast may be seen as a negative signal, while the expectation to reach gross margin positive could be viewed positively.
The revised revenue forecast is a key financial indicator that investors use to assess a company's future performance. A lower than previously expected growth rate could be interpreted negatively, potentially leading to a decrease in the stock price. However, the company's expectation to reach gross margin positive could offset some of this negative impact.
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