Luminar: Navigating Around The Difficult Near Term Headwinds
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Luminar's Q3 2024 results show an 8.6% revenue decline due to a re-negotiated non-automotive contract. However, sensor sales increased, driven by Volvo's EX 90 production. Despite near-term challenges, Luminar's long-term prospects are promising with expected growth from LiDAR system adoption.
November 26, 2024 | 9:00 am
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Luminar's Q3 2024 results show an 8.6% revenue decline due to a re-negotiated non-automotive contract. However, sensor sales increased, driven by Volvo's EX 90 production. Despite near-term challenges, Luminar's long-term prospects are promising with expected growth from LiDAR system adoption.
The revenue decline is due to a specific contract renegotiation, not a systemic issue, and sensor sales are increasing. The long-term outlook is positive due to expected growth from LiDAR adoption, particularly with Volvo's EX 90 production ramping up.
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