Iris+ has already begun shipping to its lead customer, and is currently being industrialized to support series production vehicle launches beginning 2025 and beyond. The new product demonstrates Luminar’s engineering velocity is accelerating. It also features an even slimmer profile for seamless integration into the roofline of production vehicle models. Iris+ furthers the mission for enhanced vehicle safety and autonomous capabilities by enabling even greater performance and collision avoidance of small objects at up to autobahn-level speeds. Luminar is revealing a new Iris+ sensor, which adds to its current product portfolio for new and existing customers. To view the livestream now in progress, go to: Unveiling New Iris+ Sensor 300 Meter Ranging Facility Advancing Next Gen Lidar Roadmap Tune in to hear from the CEOs at Volvo Cars, Daimler Truck, Polestar, Swiss Re, Pony.ai, Scale.ai, and eCARX, as well as executives from Mercedes-Benz and NVIDIA on the partnership and vision. View the full release here: īelow is a summary of Luminar Day announcements. Luminar is also unveiling its product roadmap, several new exclusive commercial agreements, the acquisition of Seagate’s lidar-related assets, Luminar Semiconductor subsidiary, and a new insurance initiative in partnership with Swiss Re to reduce insurance cost for vehicles equipped with Luminar. ORLANDO, Fla., February 28, 2023-( BUSINESS WIRE)-Today Luminar (NASDAQ: LAZR), a leading global automotive technology company, is hosting Luminar Day at its headquarters and via live webcast at The company is announcing a flurry of news, which includes the reveal of its new Iris+ sensor and associated software, which Mercedes-Benz is integrating into its next generation vehicle lineup. Luminar now planned into over 20 production vehicle models across automakers expecting at least triple-digit revenue growth every year for the next five yearsĪnnouncing Luminar AI Engine and exclusive partnership with Scale.aiĪnnouncing new commercial deals with Swiss Re and Pony.aiĮstablished Luminar Semiconductor from combination of semi subsidiaries New automated, high-volume Mexico manufacturing facility ahead of guidance Unveiling new Iris+ sensor 300 meter ranging facility Seagate lidar acquisition to accelerate next-gen Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Industry CEOs and Company Execs Discuss Luminar’s Vision, Execution, and The Automotive Revolution for Next-Generation Safety and Autonomy In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the bottom 33% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is -$0.22 on $16.37 million in revenues for the coming quarter and -$0.77 on $42.38 million in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to perform in line with the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Luminar Technologies, Inc. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook.
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