Luminar Reports Fourth Quarter & Full Year 2023 Business Update and Financials

Today, Luminar (NASDAQ: LAZR), a leading global automotive technology company, provided its quarterly business update and financial results for the fourth quarter and full year of 2023. These results and updates were published in a Shareholder Letter that was issued via an 8-K SEC filing and published on its Investor Relations website at https://investors.luminartech.com.

Key highlights include:

• Luminar achieved the majority of its key company-level business milestones in FY’23 across Industrialization, Product & Technology, and Business Growth with new automotive programs.
• Luminar is leading the final stretch to the industry’s first global production vehicle launch, featuring Luminar as standard. All eyes are on Volvo SOP as a defining moment to be covered at Luminar Day.
• This launch kicks off a host of additional production vehicles from automakers across the globe over the coming 36 months.
• As doubt rises about autonomous robo-taxis, Luminar’s approach of enhancing drivers and on production vehicles, rather than attempting to replace them, has started to pay off.
• 2024 will mark the first time Luminar’s multi-billion dollar Order Book will begin materially converting into revenue, validating our economic thesis and resulting in exponential growth.
• Despite the main fiscal headwind of FY’23 as the push-out of the EX90 launch to 2024 and incremental industrialization cost, Luminar drove substantial growth and realized significant cost efficiencies in 2023.
• Despite industry-wide EV growth headwinds, Luminar remains “powertrain agnostic” including a variety of combustion engine vehicle wins.

At 5:00 p.m. EDT (2:00 p.m. PDT) today, Luminar Founder & CEO Austin Russell and CFO Tom Fennimore will host a webcast consisting of a live Q&A session on the Luminar IR site at https://www.luminartech.com/quarterlyreview.

Institutional shareholders can submit questions to be addressed on the call by emailing [e-mail]. Verified retail shareholders can submit and upvote questions by visiting https://app.saytechnologies.com/luminar-2023-q4. Both means of submitting questions will remain open through the duration of the webcast, and a broader selection of submitted questions will be answered during the call.

A replay will be available following the conclusion of the webcast. For additional information or to be added to Luminar's investor distribution list, please visit us at https://investors.luminartech.com/ir-resources/email-alerts.